Puget (PUGE) 10-Q 23 Mar 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended	12 Months Ended
	Jan. 31, 2015	Oct. 31, 2014	Mar. 16, 2015
Document and Entity Information:
Entity Registrant Name	PUGET TECHNOLOGIES, INC.
Document Type	10-Q
Document Period End Date	31-Jan-15
Amendment Flag	FALSE
Entity Central Index Key	1540615
Current Fiscal Year End Date	-21
Entity Common Stock, Shares Outstanding	44,620,000
Entity Public Float			$525,000
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Incorporation, State Country Name	Nevada	Nevada
Entity Incorporation, Date of Incorporation	17-Mar-10	17-Mar-10

STATEMENT_OF_FINANCIAL_POSITIO

STATEMENT OF FINANCIAL POSITION (USD $)	Jan. 31, 2015	Oct. 31, 2014
ASSETS
Cash	$17,396	$7,879
Total Current Assets	17,396	7,879
Travel Software Platform	280,000	0
Computer Hardware	19,800	0
Total Fixed Assets	299,800	0
Total Assets	317,196	7,879
Accounts payable and accrued expenses	58,129	108,129
Accrued Interest	101,944	68,100
Advance from Officer	50,000	0
Current portion of long term debt	949,000	775,000
Total Current Liabilities	1,159,073	951,229
Common Stock, shares authorized	110,000,000	110,000,000
Common Stock, par value	0.001	0.001
Common Stock, shares issued and outstanding	44,620,000	42,620,000
Additional Paid in Capital - Common Stock	44,620	42,620
Paid in Capital at Par - Common Stock	204,209	6,409
Deficit Accumulated During the Development Stage	-1,090,706	-992,379
Total Stockholders' (Deficit)	-841,877	-943,350
Total Liabilities and Stockholders' (Deficit)	$317,196	$7,879

STATEMENTS_OF_OPERATIONS

STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Income Statements
Sales	$0	$0
Cost of Sales	0	0
Gross Profit	0	0
Consulting expenses	91,879	66,300
Interest expense	33,844	5,482
Professional fees	19,000	52,984
Marketing and advertising	0	26,957
Research & development	0	160
Other	3,604	37,919
Total Operating Expenses	148,327	189,802
Income From Operations	-148,327	-189,802
Debt Settlement	-50,000	0
Loss Before Taxes	-98,327	-189,802
Provision (credit) for taxes on income	0	0
Net Loss	-98,327	-189,802
Weighted average number of shares outstanding	42,663,478	42,500,000
Basic loss per common share	$0	$0

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Statement of Cash Flows
Net Income (Loss)	($98,327)	($189,802)
Share based - compensation	0	21,300
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities	0	21,300
Inventory	0	-46,200
Accounts payable and accrued liabilities	-50,000	92,672
Interest Accrued	33,844	5,482
Increase (Decrease) in Operating Liabilities	-16,156	51,954
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities	-16,156	73,254
Net Cash Provided by (Used in) Operating Activities	-114,483	-116,548
Purchase of Asset	-25,000	0
Net Cash Provided by (Used in) Investing Activities	-25,000	0
Advances from shareholders and related parties	50,000	-476
Proceeds from Short-term Debt	99,000	150,000
Net Cash Provided by (Used in) Financing Activities	149,000	149,524
Net Increase in Cash	9,517	32,976
Cash, Beginning of Period	7,879	13,572
Cash, End of Period	$17,396	$46,548

STATEMENT_OF_CASH_FLOWS_SUPPLE

STATEMENT OF CASH FLOWS, SUPPLEMENTAL DISCLOSURES (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS
Cash paid for interest	$0	$0
Cash paid for taxes	0	0
Shares issued for acquisition	197,595	0
Assets Purchased with Shares	-197,595	0
Debt Settlement	($50,000)	$0

Note_1_Organization_and_Busine

Note 1. Organization and Business Operations	3 Months Ended
	Jan. 31, 2015
Notes
Note 1. Organization and Business Operations	NOTE 1.         ORGANIZATION AND BUSINESS OPERATIONS
	PUGET TECHNOLOGIES, INC. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on March 17, 2010. Our business has been developing and selling leading edge consumer oriented products ready for rapid commercialization however in January 2015 we acquired the assets of a travel technology company and now include that business in our business plan. Much of our resources are dedicated to research and development in order to provide consumers with quality options while meeting the expectations of its investors. The Company is in the development stage as defined under Accounting Codification Standard, Development Stage Entities (“ASC-915”). The Company has generated limited  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 March 17, 2010 through January 31, 2015 the Company has an accumulated deficit of $1,090,706.

Note_2_Summary_of_Significant_

Note 2. Summary of Significant Accounting Policies	3 Months Ended
	Jan. 31, 2015
Notes
Note 2. Summary of Significant Accounting Policies	NOTE 2.         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	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.
	Principles of Consolidation
	The accompanying consolidated financial statements represent the consolidated financial position and results of operations of the Company and include the accounts and results of operations of the Company and its subsidiaries. The accompanying consolidated financial statements include the active entity of Puget Technologies, Inc. and its wholly owned subsidiaries, Weistek USA and Puget Travel Subsidiary Corporation. The Company has relied upon the guidance provided by ASC Topic NO.810-10-15-3.
	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 $1,090,706 as of January 31, 2015 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 or third parties and or private placement of common stock.
	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. The Company had $17,396 and $7,879 cash and cash equivalents as of January 31, 2015 and October 31, 2014.
	Use of Estimates and Assumptions
	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 as well as the reported amount of revenues and expenses during the reporting period.
	The Company’s significant estimates and assumptions include the fair value of financial instruments; revenue recognized or recognizable; sales returns and allowances; income tax rate, income tax provision; and the assumption that the Company will be a going concern.  Those significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.
	Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.
	Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.
	Actual results could differ from those estimates.
	Foreign Currency Translation
	The Company's functional currency and its reporting currency is the United States dollar.
	Fair Value of Financial Instruments
	The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels.  The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:
	Level 1	Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
	Level 2	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
	Level 3	Pricing inputs that are generally observable inputs and not corroborated by market data.
	Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable.
	The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.
	The carrying amounts of the Company’s financial assets and liabilities, such as cash, income tax payable and accrued expenses, approximate their fair values because of the short maturity of these instruments.
	Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.
	It is not, however, practical to determine the fair value of advances from stockholder, if any, due to their related party nature.
	Related Parties
	The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions.
	Pursuant to Section 850-10-20 the related parties include: a. affiliates of the Company; b. entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; c. trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d. principal owners of the Company; e. management of the Company; f. other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.
	The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved; b. description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.
	Stock-based Compensation
	Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
	Income Taxes
	The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.  Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.  Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date.
	The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements.
	Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.  The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.  Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.
	Uncertain Tax Positions
	The Company did not take any uncertain tax positions and had no adjustments to the unrecognized tax liabilities or benefits pursuant to the provisions of Section 740-10-25 for the quarter ended January 31, 2015.
	Inventories
	Inventories are stated at the lower of cost or market. The cost for inventories is determined using the first-in, first-out method. The cost includes all expenditures incurred in bringing the goods to the point of sale and putting them in a sellable condition. In assessing the ultimate realization of inventories, the management makes judgments as to future demand requirements compared to current or committed inventory levels. The Company estimates the demand requirements based on market conditions, forecasts prepared by its customers, sales contracts and orders in hand. In addition, the Company estimates net realizable value based on intended use, current market value and inventory aging analyses. The Company writes down inventories for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventories and their estimated market value based upon assumptions about future demand and market conditions.  There was zero recorded value for inventory at January 31, 2015 and zero at October 31, 2014.
	Basic and Diluted Loss Per Share
	The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.
	The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal.
	Fiscal Periods
	The Company's fiscal year end is October 31.
	Recent accounting pronouncements
	The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. The Company has reviewed the recently issued pronouncements.  During this review the Company decided to early adopt ASU 2014-10 which eliminates the definition of a development stage entity, eliminates the development stage presentation and disclosure requirements under ASC 915, and amends provisions of existing variable interest entity guidance under ASC 810.
	Advertising
	The Company follows the policy of charging the costs of advertising to expenses incurred. The Company incurred $0 and$26,957 in  advertising costs during the periods ended January 31, 2015 and 2014, respectively.

Note_3_Notes_Payable

Note 3. Notes Payable	3 Months Ended
	Jan. 31, 2015
Notes
Note 3. Notes Payable	NOTE 3.         NOTES PAYABLE
	In 2013, the Company entered into a Master Credit Agreement, the Shield Note, under which $775,000 was advanced to the Company. Funds advanced under the terms of that note bear interest at 12% for the first year from advancement and 18% thereafter. The notes was acquired by an unaffiliated party at the time of the change of control. In February 2015, the note was amended to allow for conversion of balances from time to time into common shares of the Company. The note converts as follows:
	The conversion price (the “Conversion Price”) shall equal the Variable Conversion Price (as defined herein) (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower’s securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The "Variable Conversion Price" shall mean 58% multiplied by the Market Price (as defined herein) (representing a discount rate of 42%). “Market Price” means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the price at which trades occurred on the Over-the-Counter Bulletin Board, Pink Sheets electronic quotation system or applicable trading market (the “OTC”) as reported by OTC Markets on their website or, if the OTC is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets”. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTC, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. In all cases, the Conversion Price  cannot be below a floor price of $.0005 per share.
	In connection with the acquisition of the travel company assets, a portion of the total purchase price is to be paid as follows:
	TRAVEL COMPANY ASSET PURCHASE PAYABLE
	DUE AND PAID FEBRUARY 23, 2015	$ 25,000
	DUE APRIL 13, 2015	50,000
	TOTAL	$ 75,000
	On December 19, 2014, Puget Technologies, Inc (the "Company") finalized a Convertible Promissory Note with KBM Worldwide, Inc. in the amount of $49,000, which is due September 18, 2015 with interest on  the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.  The note was paid off in full with cash on February 3, 2015.
	On January 28, 2015, the Company issued an unsecured 6 month, non-interest bearing Convertible Promissory Note (CPN#1), due on July 28, 2015 for $50,000. The principal and any accrued interest is convertible into shares of common stock at the discretion of the note holder. The conversion price (the “Conversion Price”) shall equal 55% multiplied by the Market Price (as defined therein) (representing a discount rate of 45%). The Company may prepay the amounts outstanding hereunder pursuant to the terms and conditions however after the expiration of one hundred eighty (180) following the date of the note, the Company shall have no right of prepayment. As of January 31, 2015, the Company had accrued interest of $0.0 for this note. A beneficial conversion feature was valued however the amounts of this feature were not considered material to the financial statements taken as a whole.
	A summary of notes payable for the quarter is as follows:
			ADDITIONAL
		BALANCE	BORROWING		BALANCE
		OCTOBER 31,	DURING		JANUARY 31,
		2014	QUARTER	PAYMENTS	2015
	NOTES PAYABLE
	SHIELD NOTE PAYABLE	$           775,000	$                    -	$                -	$          775,000
	ACQUISITION PAYABLE	-	75,000	-	75,000
	NOTE PAYABLE 1	-	49,000	-	49,000
	NOTE PAYABLE 2	-	50,000	-	50,000
	TOTAL	$           775,000	$          174,000	$                -	$          949,000
			ADDITIONAL
		BALANCE	ACCRUAL		BALANCE
		OCTOBER 31,	DURING		JANUARY 31,
		2014	QUARTER	PAYMENTS	2015
	ACCRUED INTEREST
	SHIELD NOTE PAYABLE	$            68,100	$            26,011	$                -	$           94,111
	ACQUISITION PAYABLE	-	-	-	-
	NOTE PAYABLE 1	-	7,833	-	7,833
	NOTE PAYABLE 2	-	-	-	-
	TOTAL	$            68,100	$            33,844	$                -	$          101,944

Note_4_Common_Stock

Note 4. Common Stock	3 Months Ended
	Jan. 31, 2015
Notes
Note 4. Common Stock	NOTE 4.         COMMON STOCK
	The authorized capital of the Company is 110,000,000 common shares; par value $0.001 per share.
	In January 2015, the Company issued 2,000,000 common shares as consideration for part of the purchase price of the travel entity assets.

Note_5_Related_Party_Transacti

Note 5. Related Party Transactions	3 Months Ended
	Jan. 31, 2015
Notes
Note 5. Related Party Transactions	NOTE 5.         RELATED PARTY TRANSACTIONS
	During the first quarter of fiscal 2015, an officer of the Company advanced $50,000 with no specified repayment terms. The note is classified as a current liability in the accompanying financial statements.

Note_6_Acquisition_of_Travel_C

Note 6. Acquisition of Travel Company Assets	3 Months Ended
	Jan. 31, 2015
Notes
Note 6. Acquisition of Travel Company Assets	NOTE 6.         ACQUISITION OF TRAVEL COMPANY ASSETS
	On January 30, 2014, the Company finalized an Asset Purchase Agreement with Travel Time Technologies Inc and Leisure Logic Systems Inc.. The assets consist primarily of a travel software platform and related hardware. There was no prior relationship between the Company and the sellers.
	As consideration, sellers will be paid $100,000 in cash in three payments and 2,000,000 shares of the Company's common stock. $25,000 was paid in cash at closing and $75,000 has been recorded as a note payable in the accompanying financial statements. There is no stated interest rate and no interest has been imputed due to the short term nature of the debt. The shares given in consideration were valued at the closing price per share of $.0999 on the date of closing for a total of $199,800; consequently the total value of the consideration was $299,800.
	The Company allocated the purchase price of the assets to Software Platform - $280,000 and Computer hardware - $19,800 in the accompanying financial statements. The Company has relied upon the guidance provided by ASC Topic NO.350.40.30.

Note_7_Debt_Settlement

Note 7. Debt Settlement	3 Months Ended
	Jan. 31, 2015
Notes
Note 7. Debt Settlement	NOTE 7.         DEBT SETTLEMENT
	As of October 31, 2014, the Company had an account payable to a vendor in the amount of $50,000. During the first quarter of fiscal 2015, the Company reached a settlement with that vendor which requires no payment on the account payable, therefore the Company has recorded a debt settlement gain.

Note_8_Subsequent_Events

Note 8. Subsequent Events	3 Months Ended
	Jan. 31, 2015
Notes
Note 8. Subsequent Events	NOTE 8.         SUBSEQUENT EVENTS
	The Company has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. The following material events have occurred up to March 23, 2015:
	On February 2, 2015, Puget Technologies, Inc (the "Company") finalized a Securities Exchange and Settlement Agreement with Rock Bay LLC (an unaffiliated Colorado entity), the holder of the Master Credit Agreement with Shield Investments Inc. dated August 9, 2013 in the principal amount of $775,000, which provides for the exchange the Debt from time to time for equity securities in the form of unrestricted shares of Issuer Common Stock.
	On February 2, 2015, Puget Technologies, Inc (the "Company") finalized a Convertible Redeemable Note with ADAR BAYS, LLC in the amount of $75,000, which is due January 30, 2016 with interest on  the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
	On February 2, 2015, Puget Technologies, Inc (the "Company") finalized a Convertible Redeemable Note with LG CAPITAL FUNDING, LLC in the amount of $53,500, which is due January 28, 2016 with interest on  the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
	On February 2, 2015, Puget Technologies, Inc (the "Company") finalized a Convertible Promissory Note with Maccallan Partners, LLC in the amount of $50,000, which is due February 5, 2016 with interest on  the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
	On February 2, 2015, Puget Technologies, Inc (the "Company") finalized a Convertible Redeemable Note with UNION CAPITAL, LLC in the amount of $75,000, which is due January 30, 2016 with interest on  the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
	On December 19, 2014, Puget Technologies, Inc (the "Company") finalized a Convertible Promissory Note with KBM Worldwide, Inc. in the amount of $49,000, which is due September 18, 2015 with interest on  the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.  The note was paid off in full in cash on February 3, 2015.
	On February 27, 2015, Puget Technologies, Inc (the "Company") finalized a Convertible Promissory  Note with Vis Vires Group, Inc. in the amount of $50,000, which is due December 3, 2015 with interest on  the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
	Effective March 1, 2015, Puget Technologies, Inc (the "Company") finalized a sub-lease for office space in Englewood Colorado. The sub-lease extends for six months at a rate of $3,000 per month.

Note_2_Summary_of_Significant_1

Note 2. Summary of Significant Accounting Policies: Basis of Presentation (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Basis of Presentation	Basis of Presentation
	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.

Note_2_Summary_of_Significant_2

Note 2. Summary of Significant Accounting Policies: Principles of Consolidation (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Principles of Consolidation	Principles of Consolidation
	The accompanying consolidated financial statements represent the consolidated financial position and results of operations of the Company and include the accounts and results of operations of the Company and its subsidiaries. The accompanying consolidated financial statements include the active entity of Puget Technologies, Inc. and its wholly owned subsidiaries, Weistek USA and Puget Travel Subsidiary Corporation. The Company has relied upon the guidance provided by ASC Topic NO.810-10-15-3.

Note_2_Summary_of_Significant_3

Note 2. Summary of Significant Accounting Policies: Going Concern (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Going Concern	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 $1,090,706 as of January 31, 2015 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 or third parties and or private placement of common stock.

Note_2_Summary_of_Significant_4

Note 2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Cash and Cash Equivalents	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. The Company had $17,396 and $7,879 cash and cash equivalents as of January 31, 2015 and October 31, 2014.

Note_2_Summary_of_Significant_5

Note 2. Summary of Significant Accounting Policies: Use of Estimates and Assumptions (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Use of Estimates and Assumptions	Use of Estimates and Assumptions
	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 as well as the reported amount of revenues and expenses during the reporting period.
	The Company’s significant estimates and assumptions include the fair value of financial instruments; revenue recognized or recognizable; sales returns and allowances; income tax rate, income tax provision; and the assumption that the Company will be a going concern.  Those significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.
	Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.
	Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.
	Actual results could differ from those estimates.

Note_2_Summary_of_Significant_6

Note 2. Summary of Significant Accounting Policies: Foreign Currency Translation (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Foreign Currency Translation	Foreign Currency Translation
	The Company's functional currency and its reporting currency is the United States dollar.

Note_2_Summary_of_Significant_7

Note 2. Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels.  The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:
	Level 1	Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
	Level 2	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
	Level 3	Pricing inputs that are generally observable inputs and not corroborated by market data.
	Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable.
	The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.
	The carrying amounts of the Company’s financial assets and liabilities, such as cash, income tax payable and accrued expenses, approximate their fair values because of the short maturity of these instruments.
	Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.
	It is not, however, practical to determine the fair value of advances from stockholder, if any, due to their related party nature.

Note_2_Summary_of_Significant_8

Note 2. Summary of Significant Accounting Policies: Related Parties (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Related Parties	Related Parties
	The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions.
	Pursuant to Section 850-10-20 the related parties include: a. affiliates of the Company; b. entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; c. trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d. principal owners of the Company; e. management of the Company; f. other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.
	The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved; b. description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

Note_2_Summary_of_Significant_9

Note 2. Summary of Significant Accounting Policies: Stock-based Compensation (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Stock-based Compensation	Stock-based Compensation
	Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

Recovered_Sheet1

Note 2. Summary of Significant Accounting Policies: Income Taxes (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Income Taxes	Income Taxes
	The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.  Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.  Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date.
	The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements.
	Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.  The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.  Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.

Recovered_Sheet2

Note 2. Summary of Significant Accounting Policies: Uncertain Tax Positions (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Uncertain Tax Positions	Uncertain Tax Positions
	The Company did not take any uncertain tax positions and had no adjustments to the unrecognized tax liabilities or benefits pursuant to the provisions of Section 740-10-25 for the quarter ended January 31, 2015.

Recovered_Sheet3

Note 2. Summary of Significant Accounting Policies: Inventories (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Inventories	Inventories
	Inventories are stated at the lower of cost or market. The cost for inventories is determined using the first-in, first-out method. The cost includes all expenditures incurred in bringing the goods to the point of sale and putting them in a sellable condition. In assessing the ultimate realization of inventories, the management makes judgments as to future demand requirements compared to current or committed inventory levels. The Company estimates the demand requirements based on market conditions, forecasts prepared by its customers, sales contracts and orders in hand. In addition, the Company estimates net realizable value based on intended use, current market value and inventory aging analyses. The Company writes down inventories for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventories and their estimated market value based upon assumptions about future demand and market conditions.  There was zero recorded value for inventory at January 31, 2015 and zero at October 31, 2014.

Recovered_Sheet4

Note 2. Summary of Significant Accounting Policies: Basic and Diluted Loss Per Share (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share
	The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.
	The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal.

Recovered_Sheet5

Note 2. Summary of Significant Accounting Policies: Fiscal Periods (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Fiscal Periods	Fiscal Periods
	The Company's fiscal year end is October 31.

Recovered_Sheet6

Note 2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Recent Accounting Pronouncements	Recent accounting pronouncements
	The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. The Company has reviewed the recently issued pronouncements.  During this review the Company decided to early adopt ASU 2014-10 which eliminates the definition of a development stage entity, eliminates the development stage presentation and disclosure requirements under ASC 915, and amends provisions of existing variable interest entity guidance under ASC 810.

Recovered_Sheet7

Note 2. Summary of Significant Accounting Policies: Advertising (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Advertising	Advertising
	The Company follows the policy of charging the costs of advertising to expenses incurred. The Company incurred $0 and$26,957 in  advertising costs during the periods ended January 31, 2015 and 2014, respectively.

Note_3_Notes_Payable_Summary_o

Note 3. Notes Payable: Summary of notes payable for the quarter (Tables)	3 Months Ended
	Jan. 31, 2015
Tables/Schedules
Summary of notes payable for the quarter
			ADDITIONAL
		BALANCE	BORROWING		BALANCE
		OCTOBER 31,	DURING		JANUARY 31,
		2014	QUARTER	PAYMENTS	2015
	NOTES PAYABLE
	SHIELD NOTE PAYABLE	$           775,000	$                    -	$                -	$          775,000
	ACQUISITION PAYABLE	-	75,000	-	75,000
	NOTE PAYABLE 1	-	49,000	-	49,000
	NOTE PAYABLE 2	-	50,000	-	50,000
	TOTAL	$           775,000	$          174,000	$                -	$          949,000
			ADDITIONAL
		BALANCE	ACCRUAL		BALANCE
		OCTOBER 31,	DURING		JANUARY 31,
		2014	QUARTER	PAYMENTS	2015
	ACCRUED INTEREST
	SHIELD NOTE PAYABLE	$            68,100	$            26,011	$                -	$           94,111
	ACQUISITION PAYABLE	-	-	-	-
	NOTE PAYABLE 1	-	7,833	-	7,833
	NOTE PAYABLE 2	-	-	-	-
	TOTAL	$            68,100	$            33,844	$                -	$          101,944

Note_1_Organization_and_Busine1

Note 1. Organization and Business Operations (Details) (USD $)	3 Months Ended	12 Months Ended	59 Months Ended
	Jan. 31, 2015	Oct. 31, 2014	Jan. 31, 2015
Details
Entity Incorporation, State Country Name	Nevada	Nevada
Entity Incorporation, Date of Incorporation	17-Mar-10	17-Mar-10
Accumulated deficit			$1,090,706

Recovered_Sheet8

Note 2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
Details
Cash	$17,396	$7,879

Recovered_Sheet9

Note 2. Summary of Significant Accounting Policies: Inventories (Details) (USD $)	Jan. 31, 2015	Oct. 31, 2014
Details
Inventory	$0	$0

Recovered_Sheet10

Note 2. Summary of Significant Accounting Policies: Advertising (Details) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Details
Advertising costs	$0	$26,957