Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended | |
Aug. 31, 2013 | Nov. 30, 2012 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'Avalanche International, Corp. | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Aug-13 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001537169 | ' |
Current Fiscal Year End Date | '--11-30 | ' |
Entity Common Stock, Shares Outstanding | 2,535,000 | ' |
Entity Public Float | ' | $126,750 |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Current Reporting Status | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Balance_sheet
Balance sheet (USD $) | Aug. 31, 2013 | Nov. 30, 2012 |
Assets, Current | ' | ' |
Prepaid Expense, Current | ' | $3,333 |
Assets | 0 | 3,333 |
Liabilities, Current | ' | ' |
Accounts Payable and Accrued Expenses, Current | 4,218 | 609 |
Liabilities, Noncurrent | ' | ' |
Loans from Related Parties, Noncurrent | 9,608 | ' |
Liabilities | 13,826 | 609 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ' | ' |
Common Stock, value | 2,535 | 2,535 |
Additional Paid in Capital, Preferred Stock | 20,865 | 20,865 |
Retained Earnings (Accumulated Deficit) | -37,226 | -20,676 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -13,826 | 2,724 |
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures | ' | ' |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 2,535,000 | 2,535,000 |
Common Stock, Shares Outstanding | 2,535,000 | 2,535,000 |
Liabilities and Equity | $0 | $3,333 |
Unaudited_Statement_of_Operati
Unaudited Statement of Operations (USD $) | 3 Months Ended | 9 Months Ended | 29 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | |
Revenues | ' | ' | ' | ' | ' |
Revenues | $0 | $0 | $0 | $0 | $0 |
Operating Expenses | ' | ' | ' | ' | ' |
Legal and accounting fees | 2,293 | 1,250 | 11,415 | 8,132 | 20,797 |
Consulting | ' | ' | ' | ' | 2,855 |
Operation and administration | 426 | 2,606 | 5,135 | 5,431 | 13,574 |
Total Operating Expenses | 2,719 | 3,856 | 16,550 | 13,563 | 37,226 |
Net loss from operations | -2,719 | -3,856 | -16,550 | -13,563 | -37,226 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' |
Provision for Income Taxes (Benefit) | 0 | 0 | 0 | ' | ' |
Net Income (Loss) | ($2,719) | ($3,856) | ($16,550) | ($13,563) | ($37,226) |
Earnings Per Share | ' | ' | ' | ' | ' |
Earnings Per Share, Basic and Diluted | $0 | $0 | $0.01 | $0 | ' |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 2,535,000 | 2,535,000 | 2,535,000 | 2,535,000 | 2,535,000 |
Unaudited_Statements_of_Cash_F
Unaudited Statements of Cash Flows (USD $) | 9 Months Ended | 29 Months Ended | |
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' |
Net loss for the period | ($16,550) | ($13,563) | ($37,226) |
Increase (Decrease) in Operating Assets | ' | ' | ' |
Increase (Decrease) in Prepaid Expense and Other Assets | 3,333 | -5,333 | ' |
Increase (Decrease) in Operating Liabilities | ' | ' | ' |
Increase (Decrease) in Accounts payable and accrued expense | 3,609 | ' | 4,218 |
Net Cash Provided by (Used in) Operating Activities | -9,608 | -18,896 | -33,008 |
Net Cash Provided by (Used in) Financing Activities | ' | ' | ' |
Proceeds from Issuance of Common Stock | ' | 21,400 | 23,400 |
Origination of Notes Receivable from Related Parties | 9,608 | 800 | 14,008 |
Repayment of Notes Receivable from Related Parties | ' | ' | -4,400 |
Net Cash Provided by (Used in) Financing Activities | 9,608 | 22,200 | 33,008 |
Cash and Cash Equivalents, Period Increase (Decrease) | ' | 3,304 | ' |
Cash and Cash Equivalents, at Carrying Value | ' | 6,000 | ' |
Cash and Cash Equivalents, at Carrying Value | ' | $9,304 | ' |
Note_1_Nature_and_Continuance_
Note 1. Nature and Continuance of Operations | 9 Months Ended |
Aug. 31, 2013 | |
Notes | ' |
Note 1. Nature and Continuance of Operations | ' |
Note 1. NATURE AND CONTINUANCE OF OPERATIONS | |
Organization and business operations | |
AVALANCHE INTERNATIONAL, CORP. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on April 14, 2011. The company plans to distribute crystallized glass tile in the North American markets to wholesale customers. The Company is in the development stage as defined under Accounting Codification Standard, Development Stage Entities (“ASC-915”). The Company has not generated any revenue to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise. For the period from inception on April 14, 2011 through August 31, 2013 the Company has accumulated losses of $37,226. | |
Going concern | |
The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $37,226 as of August 31, 2013 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and or private placement of common stock. |
Note_2_Basis_of_Preparation
Note 2. Basis of Preparation | 9 Months Ended |
Aug. 31, 2013 | |
Notes | ' |
Note 2. Basis of Preparation | ' |
Note 2. BASIS OF PREPARATION | |
Generally accepted accounting principles | |
The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. | |
Cash and Cash Equivalents | |
The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In management’s opinion, all adjustments necessary for a fair statement of the results for the interim periods have been made, and all adjustments are of a normal recurring nature. | |
Note_3_Significant_Accounting_
Note 3. Significant Accounting Policies | 9 Months Ended | ||||||
Aug. 31, 2013 | |||||||
Notes | ' | ||||||
Note 3. Significant Accounting Policies | ' | ||||||
Note 3. SIGNIFICANT ACCOUNTING POLICIES | |||||||
a. Basis of presentation | |||||||
The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America applicable to exploration stage enterprises, and, unless otherwise stated, are expressed in U.S. dollars. The Company’s fiscal year end is November 30. | |||||||
b. Cash and cash equivalents | |||||||
Cash and cash equivalents include highly liquid investments with original maturities of three months or less. | |||||||
c. Fair Value of Financial instruments | |||||||
The Company adopted FASB ASC 820-10-50, “Fair Value Measurements. This guidance defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: | |||||||
· | Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | ||||||
· | Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that | ||||||
are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. | |||||||
· | Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement. | ||||||
The carrying amounts reported in the balance sheet for the cash and cash equivalents, and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. | |||||||
d. Income taxes | |||||||
The Financial Accounting Standards Board (FASB) has issued FASB ASC 740-10 (Prior authoritative literature: Financial Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - An Interpretation of FASB Statement No. 109 (FIN 48)). FASB ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance with prior literature FASB Statement No. 109, Accounting for Income Taxes. This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by FASB ASC 740-10. | |||||||
Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. | |||||||
e. Basic and diluted net loss per share | |||||||
The Company computes net loss per share of common stock in accordance with ASC 260, Earnings per Share (“ASC 260”). Under the provisions of ASC 260, basic net income (loss) per share is computed using the weighted average number | |||||||
of common shares outstanding during the period. Diluted net loss per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants and the conversion of convertible promissory notes. | |||||||
The Company’s calculation of basic and diluted loss per share is as follows: | |||||||
For the Nine Months Ended | |||||||
31-Aug-13 | 31-Aug-12 | ||||||
Basic Earnings per share: | |||||||
Income (Loss) (numerator) | $ | -16,550 | $ | -13,563 | |||
Shares (denominator) | 2,535,000 | 2,262,582 | |||||
Per Share Amount | $ | -0.01 | $ | -0.01 | |||
For the Nine Months Ended | |||||||
31-Aug-13 | 31-Aug-12 | ||||||
Fully Diluted Earnings per share: | |||||||
Income (Loss) (numerator) | $ | -16,550 | $ | -13,563 | |||
Shares (denominator) | 2,535,000 | 2,262,582 | |||||
Per Share Amount | $ | -0.01 | $ | -0.01 | |||
f. Use of estimates and assumptions | |||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. In these financial statements, assets, liabilities and earnings involve extensive reliance on management’s estimates. Actual results could differ from those estimates. The Company’s periodic filing with the Securities and Exchange Commission (“SEC”) include, where applicable, disclosures of estimates, assumptions, uncertainties, and market that could affect the financial statements and future operations of the Company. | |||||||
g. Concentrations of credit risk | |||||||
The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management also routinely assesses the financial strength and credit worthiness of any parties to which it extends funds and as such, it believes that any associated credit risk exposures are limited. | |||||||
h. Risks and uncertainties | |||||||
The Company operates in the resource exploration industry that is subject to significant risks and uncertainties, including financial, operational, and other risks associated with operating a resource exploration business, including the potential risk of business failure. |
Note_4_New_Technical_Pronounce
Note 4. New Technical Pronouncements | 9 Months Ended |
Aug. 31, 2013 | |
Notes | ' |
Note 4. New Technical Pronouncements | ' |
Note 4. NEW TECHNICAL PRONOUNCEMENTS | |
The Company has reviewed accounting pronouncements issued during the past two years and has assessed the adoption of any that are applicable to the Company. Management has determined that none had a material impact on the financial position, results of operations, or cash flows for the period ended August 31, 2013 and August 31, 2012 |
Note_5_Related_Party_Transacti
Note 5. Related Party Transactions | 9 Months Ended |
Aug. 31, 2013 | |
Notes | ' |
Note 5. Related Party Transactions | ' |
Note 5. RELATED PARTY TRANSACTIONS | |
On April 14, 2011 a Director had loaned the Company $400. | |
On May 27, 2011 a Director had loaned the Company $4,000. | |
As of November 30, 2011 total loan amount was $4,400. The loan is non-interest bearing, due upon demand and unsecured. | |
On October 15, 2012 the Director was repaid $4,400. | |
As of August 31, 2013, the Director loaned the Company a total of $9,608. The loan is non-interest bearing, due upon demand and unsecured. |
Note_6_Common_Stock_and_Additi
Note 6. Common Stock and Additional Paid-in-capital | 9 Months Ended |
Aug. 31, 2013 | |
Notes | ' |
Note 6. Common Stock and Additional Paid-in-capital | ' |
Note 6. COMMON STOCK AND ADDITIONAL PAID-IN-CAPITAL | |
The authorized capital of the Company is 75,000,000 common shares with a par value of $ 0.001 per share. | |
On May 27, 2011, the Company issued 2,000,000 shares of common stock at a price of $0.001 per share for total cash proceeds of $2,000. | |
During the fiscal year ending November 30, 2012, the Company issued 535,000 shares at a price of $0.04 per shares for a total cash proceeds of $21,400. | |
As of period ending August 31, 2013, no common stock were issued. | |
Note_7_Income_Taxes
Note 7. Income Taxes | 9 Months Ended |
Aug. 31, 2013 | |
Notes | ' |
Note 7. Income Taxes | ' |
Note 7. INCOME TAXES | |
Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. | |
As of August 31, 2013, the Company had net operating loss carry forwards of $37,226 that may be available to reduce future years’ taxable income through 2031. | |
Note_8_Subsequent_Events
Note 8. Subsequent Events | 9 Months Ended |
Aug. 31, 2013 | |
Notes | ' |
Note 8. Subsequent Events | ' |
Note 8. SUBSEQUENT EVENTS | |
Avalanche International, Corp. has evaluated subsequent events for the period August 31, 2013 through the date the financial statements were issued, and concluded, aside from the foregoing, there were no other events or transactions occurring during this period that required recognition or disclosure in its financial statements. | |