Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jan. 31, 2016 | Mar. 08, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | BRK, INC. | |
Entity Central Index Key | 1,532,926 | |
Document Type | 10-Q | |
Document Period End Date | Jan. 31, 2016 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-30 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 43,083,200 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,016 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jan. 31, 2016 | Apr. 30, 2015 |
Current assets | ||
Cash and cash equivalents | $ 1,460 | $ 1,047 |
Inventory | 808 | 808 |
Total current assets | 2,268 | 1,855 |
Fixed assets | ||
Production equipment, net of accumulated depreciation of $18,835 and $15,804, respectively | 5,055 | 8,086 |
Total assets | 7,323 | 9,941 |
Current liabilities | ||
Accounts payable and accrued expense | 10,627 | 8,262 |
Accrued compensation - related party | 92,850 | 72,190 |
Convertible notes - related party | 7,089 | 7,089 |
Convertible notes payable | 115,500 | 115,500 |
Short term debt - related party | 77,540 | 50,540 |
Short term debt | 46,900 | 46,900 |
Total current liabilities | $ 350,506 | $ 300,481 |
Stockholders' deficit | ||
Preferred shares, par value $0.001, 1,000,000 shares authorized; none issued and outstanding as of January 31, 2016 and April 30, 2015 | ||
Common stock, par value $0.001, 100,000,000 shares authorized; 43,083,200 issued and outstanding as of January 31, 2016 and April 30, 2015 | $ 43,083 | $ 43,083 |
Additional paid-in capital | (9,033) | (9,033) |
Accumulated deficit | (377,233) | (324,590) |
Total stockholders' deficit | (343,183) | (290,540) |
Total liabilities and stockholders' deficit | $ 7,323 | $ 9,941 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - USD ($) | Jan. 31, 2016 | Apr. 30, 2015 |
Balance Sheets Parenthetical | ||
Production equipment, net of accumulated depreciation | $ 18,835 | $ 15,804 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 43,083,200 | 43,083,200 |
Common stock, shares outstanding | 43,083,200 | 43,083,200 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2016 | Jan. 31, 2015 | Jan. 31, 2016 | Jan. 31, 2015 | |
Statements Of Operations | ||||
Revenue | $ 161 | |||
Operating expenses: | ||||
Selling, general and administrative expenses | $ 12,720 | $ 13,867 | $ 46,552 | 41,939 |
Depreciation | 1,009 | 1,317 | 3,031 | 3,951 |
Loss from operations | (13,729) | $ (15,184) | (49,583) | $ (45,729) |
Other expense | ||||
Interest expense | (1,020) | (3,060) | ||
Other expense | (1,020) | (3,060) | ||
Net loss | $ (14,749) | $ (15,184) | $ (52,643) | $ (45,729) |
Net loss per common share basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding: basic and diluted | 43,083,200 | 43,083,200 | 43,083,200 | 43,083,200 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Jan. 31, 2016 | Jan. 31, 2015 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (52,643) | $ (45,729) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 3,031 | 3,951 |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued expense | 2,365 | (734) |
Accrued compensation - related party | 20,660 | 21,355 |
Net cash used in operating activities | $ (26,587) | (21,157) |
Cash Flows From Financing Activities: | ||
Proceeds from notes payable | 5,000 | |
Proceeds from notes payable - related party | $ 27,000 | 10,000 |
Principal payments on debt - related party | (150) | |
Net cash provided by financing activities | $ 27,000 | 14,850 |
Net change in cash | 413 | (6,307) |
Cash at beginning of period | 1,047 | 10,196 |
Cash at end of period | $ 1,460 | $ 3,889 |
SUPPLEMENT DISCLOSURE | ||
Interest paid | ||
Income taxes paid |
BASIS OF PRESENTATION AND ORGAN
BASIS OF PRESENTATION AND ORGANIZATION | 9 Months Ended |
Jan. 31, 2016 | |
Notes to Financial Statements | |
NOTE 1 - BASIS OF PRESENTATION AND ORGANIZATION | BRK, Inc. ("BRK" or the "Company") was incorporated on May 22, 2008 as a Nevada corporation. The Company has developed a product for the repair of hanging venetian blinds. As part of this development the Company has completed the development and is building a machine to make the parts for blind repair that it is selling. The development and testing of the machine is near completion with production and marketing of the product to begin in the very near future. BASIS OF PRESENTATION The accompanying unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information required to be included in a complete set of financial statements in accordance with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended January 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2016. The accompanying unaudited financial statements should be read in conjunction with the financial statements and related notes included in the Company's 2015 Annual Report filed with the SEC on July 29, 2015. FORWARD STOCK SPLIT On December 21, 2015, the Company filed, with the Secretary of State of the State of Nevada, a Certificate of Change, effecting a ten-for-one (10:1) forward split of the Company's issued and outstanding shares of common. The forward split took effect on the over-the-counter markets on January 12, 2016. The number of shares, issued and outstanding and the weighted average for both 2015 and 2014, have been adjusted to reflect the forward stock split. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Jan. 31, 2016 | |
Notes to Financial Statements | |
NOTE 2 - GOING CONCERN | As shown in the accompanying financial statements, BRK has an accumulated deficit of $377,233 and negative working capital of $348,238 as of January 31, 2016. Unless profitability and increases in stockholders' equity continues, these conditions raise substantial doubt as to BRK's ability to continue as a going concern. The January 31, 2016 financial statements do not include any adjustments that might be necessary if BRK is unable to continue as a going concern. BRK continues to review its expense structure reviewing costs and their reduction to move towards profitability. The Company's expenses are planned to decrease resulting in profitability and increased shareholders' equity. |
RELATED PARTY
RELATED PARTY | 9 Months Ended |
Jan. 31, 2016 | |
Notes to Financial Statements | |
NOTE 3 - RELATED PARTY | During the nine months ended January 31, 2016, the Company recorded $22,500 in compensation payable to the President. As of January 31, 2016, $92,850 was due to the President. As of January 31, 2016, the balance of notes payable due to related party was $77,540 and convertible notes payable was $7,089. $27,000 was borrowed under notes payable to related party during the nine months ended January 31, 2016. $18,000 is unsecured, due on demand and bears interest at 12% per annum and $9,000 is unsecured and due on demand with no interest rate. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Jan. 31, 2016 | |
Notes to Financial Statements | |
NOTE 4 - SUBSEQUENT EVENTS | On February 21, 2016 the Company signed a worldwide license agreement to manufacture and distribute the O2Trainer. The product is used by individuals in physical training. The Company will pay a 10% royalty on all sales through February 21, 2026. |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jan. 31, 2016 | Apr. 30, 2015 |
Going Concern Details Narrative | ||
Accumulated deficit | $ (377,233) | $ (324,590) |
Working capital | $ (348,238) |
RELATED PARTY (Details Narrativ
RELATED PARTY (Details Narrative) - USD ($) | 9 Months Ended | ||
Jan. 31, 2016 | Jan. 31, 2015 | Apr. 30, 2015 | |
Accrued compensation - related party | $ 92,850 | $ 72,190 | |
Short term debt - related party | 77,540 | 50,540 | |
Convertible notes - related party | 7,089 | $ 7,089 | |
Proceeds from notes payable - related party | $ 27,000 | $ 10,000 | |
Interest rate | 12.00% | ||
President [Member] | |||
Accrued compensation - related party | $ 22,500 |