Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Sep. 30, 2013 | Nov. 14, 2013 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'PN Med Group Inc | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'true | ' |
Amendment Description | ' | ' |
Explanatory Note | ||
This Amendment No. 1 to the Quarterly Report (the “Report”) on Form 10-Q for PN Med Inc. (the "Company") for the quarterly period ended September 30, 2013 is being filed to disclose that the financial statements included in the Report filed with the Securities and Exchange Commission on November 14, 2013 have not been reviewed by the Company's independent registered public accounting firm. This Amendment does not change any previously reported financial results, update disclosures or reflect events occurring after the date of the filing of the Report, or except for changes described above, modify disclosures in the previously filed Report. Upon completion of a review of the financial statements included in the Report by the Company's independent registered public accounting firm, the Company will further amend this filing to include the financial statements reviewed by the Company's independent registered public accounting firm. The Company expects to file the further amendment by November 19, 2013. | ||
Entity Central Index Key | '0001549084 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 6,350,000 |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Balance_Sheets
Balance Sheets (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
ASSETS | ' | ' |
Cash and cash equivalents | $438 | $29,175 |
Total current assets | 438 | 29,175 |
Total Assets | 438 | 29,175 |
Liabilities | ' | ' |
Accrued Expenses | 750 | 4,800 |
Loan from shareholder | 9,324 | 9,324 |
Total Liabilities | 10,074 | 14,124 |
Stockholders' Equity (Deficit) | ' | ' |
Common stock, par value $0.001; 75,000,000 shares authorized, 6,350,000 shares issued and outstanding | 6,350 | 6,350 |
Additional paid-in capital | 25,650 | 25,650 |
Deficit accumulated during the development stage | 41,636 | 16,949 |
Total Stockholders' Equity (Deficit) | -9,636 | 15,051 |
Total Liabilities and Stockholders' Equity (Deficit) | $438 | $29,175 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 6,350,000 | 6,350,000 |
Common stock, shares outstanding | 6,350,000 | 6,350,000 |
Statements_Of_Operations
Statements Of Operations (USD $) | 3 Months Ended | 6 Months Ended | 20 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' | ' |
REVENUES | ' | ' | ' | ' | ' |
OPERATING EXPENSES | ' | ' | ' | ' | ' |
Professional fees | 1,433 | 1,175 | 24,559 | 6,021 | 40,000 |
Website expenses | ' | ' | ' | ' | 500 |
Bank fees | 60 | 52 | 91 | 89 | 1,099 |
Miscellaneous expenses | ' | 25 | 37 | 37 | 37 |
TOTAL OPERATING EXPENSES | 1,493 | 1,252 | 24,687 | 6,147 | 41,636 |
LOSS FROM OPERATIONS | -1,493 | -1,252 | -24,687 | -6,147 | -41,636 |
PROVISION FOR INCOME TAXES | ' | ' | ' | ' | ' |
NET INCOME (LOSS) | ($1,493) | ($1,252) | ($24,687) | ($6,147) | ($41,636) |
BASIC AND DILUTED LOSS PER SHARE | $0 | $0 | $0 | $0 | ' |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 6,350,000 | 5,000,000 | 6,350,000 | 5,000,000 | ' |
Statement_Of_Stockholders_Equi
Statement Of Stockholder's Equity (Deficit) (USD $) | Common Stock | Additional Paid-In Capital | Deficit Accumulated During The Development Stage | Total |
Balance, value at Jan. 29, 2012 | ' | ' | ' | ' |
Common stock shares issued for cash at $0.001 per share, shares | 5,000,000 | ' | ' | ' |
Common stock shares issued for cash at $0.001 per share, value | $5,000 | ' | ' | $5,000 |
Net loss for the year ended | ' | ' | -4,657 | -4,657 |
Balance, value at Mar. 31, 2012 | 5,000 | ' | -4,657 | 343 |
Balance, shares at Mar. 31, 2012 | 5,000,000 | ' | ' | ' |
Common stock shares issued for cash at $0.02 per share, shares | 1,350,000 | ' | ' | ' |
Common stock shares issued for cash at $0.02 per share, shares | 1,350 | 25,650 | ' | 27,000 |
Net loss for the year ended | ' | ' | -12,292 | -12,292 |
Balance, value at Mar. 31, 2013 | 6,350 | 25,650 | -16,949 | 15,051 |
Balance, shares at Mar. 31, 2013 | 6,350,000 | ' | ' | 6,350,000 |
Net loss for the year ended | ' | ' | -24,687 | -24,687 |
Balance, value at Sep. 30, 2013 | $6,350 | $25,650 | ($41,636) | ($9,636) |
Balance, shares at Sep. 30, 2013 | 6,350,000 | ' | ' | 6,350,000 |
Statement_Of_Stockholders_Equi1
Statement Of Stockholder's Equity (Deficit) (Parenthetical) (USD $) | Mar. 31, 2013 | Mar. 29, 2012 |
Statement of Stockholders' Equity [Abstract] | ' | ' |
Sale of stock price per share | $0.02 | $0.00 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 6 Months Ended | 20 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Net income (loss) | ($24,687) | ($6,147) | ($41,636) |
Changes in operating assets and liabilities: | ' | ' | ' |
Increase (decrease) in accrued expenses | -4,050 | -3,750 | 750 |
Net cash used in operating activities | -28,737 | -9,897 | -40,886 |
Cash flow used in investing activities | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from sale of common stock | ' | ' | 32,000 |
Loans from shareholder | ' | 14,181 | 9,324 |
Net cash provided by financing activities | ' | 14,181 | 41,324 |
Net increase (decrease) in cash and cash equivalents | -28,737 | 4,284 | 438 |
Cash and cash equivalents at beginning of period | 29,175 | 8,443 | ' |
Cash and cash equivalents at end of period | 438 | 12,727 | 438 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Cash paid for interest | ' | ' | ' |
Cash paid for income taxes | ' | ' | ' |
Organization_And_Nature_Of_Bus
Organization And Nature Of Business | 6 Months Ended |
Sep. 30, 2013 | |
Organization And Nature Of Business | ' |
Organization and nature of business | ' |
NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS | |
PN Med Group Inc. (the "Company" or “PN Med”) was incorporated under the laws of the State of Nevada on January 30, 2012. The Company planned to distribute medical supplies and equipment to municipalities, hospitals, pharmacies, care centers, and clinics throughout the country of Chile. The Company recently decided to discontinue operations in this area and is presently looking for a new business opportunity. |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 6 Months Ended |
Sep. 30, 2013 | |
Summary Of Significant Accounting Policies | ' |
Summary of significant accounting policies | ' |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Development Stage Company | |
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from. | |
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. | |
Accounting Basis | |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a March 31 fiscal year end. | |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $438 and $29,175 of cash as of September 30, 2013 and March 31, 2013, respectively. | |
Fair Value of Financial Instruments | |
The Company’s financial instruments consist of cash and cash equivalents, accrued expenses and amounts due to a shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. | |
Income Taxes | |
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Revenue Recognition | |
The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |
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. | |
Basic Income (Loss) Per Share | |
Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of September 30, 2013. | |
Comprehensive Income | |
The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income. | |
Recent Accounting Pronouncements | |
PN Med does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. | |
Accrued_Expenses
Accrued Expenses | 6 Months Ended |
Sep. 30, 2013 | |
DisclosureAccruedExpensesAbstract | ' |
Accrued expenses | ' |
NOTE 3 – ACCRUED EXPENSES | |
Accrued expenses at September 30, 2013 and March 31, 2013 consisted of amounts owed to the Company’s outside independent auditors for services rendered for period reported on in these financial statements. | |
Loan_From_Shareholder
Loan From Shareholder | 6 Months Ended |
Sep. 30, 2013 | |
Loan From Shareholder | ' |
Loan from shareholder | ' |
NOTE 4 – LOAN FROM SHAREHOLDER | |
During the period ended March 31, 2012, a shareholder and officer loaned $3,600 to the Company to open the bank account and help fund operations. The shareholder/officer loaned another $5,724 during the year ended March 31, 2013. The loans are unsecured, non-interest bearing and due on demand. The balance due to the shareholder and officer was $9,324 as of September 30, 2013 and March 31, 2013, respectively. |
Capital_Stock
Capital Stock | 6 Months Ended |
Sep. 30, 2013 | |
Capital Stock | ' |
Capital stock | ' |
NOTE 5 – CAPITAL STOCK | |
The Company has 75,000,000, $0.001 par value shares of common stock authorized. On March 29, 2012, the Company issued 5,000,000 shares of common stock for cash proceeds of $5,000 at $0.001 per share. The Company sold 1,350,000 common shares at $0.02 per share for total cash proceeds of $27,000 during the year ended March 31, 2013. There were 6,350,000 shares of common stock issued and outstanding as of September 30, 2013. |
Commitments_And_Contingencies
Commitments And Contingencies | 6 Months Ended |
Sep. 30, 2013 | |
Commitments And Contingencies | ' |
Commitments and contingencies | ' |
NOTE 6 – COMMITMENTS AND CONTINGENCIES | |
The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. |
Income_Taxes
Income Taxes | 6 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Taxes | ' | ||||||||
Income taxes | ' | ||||||||
NOTE 7 – INCOME TAXES | |||||||||
As of September 30, 2013, the Company had net operating loss carry forwards of approximately $41,636 that may be available to reduce future years’ taxable income in varying amounts through 2032. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. | |||||||||
The provision for Federal income tax consists of the following for the six months ended September 30, 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Federal income tax benefit attributable to: | |||||||||
Current operations | $ | 8,394 | $ | 2,090 | |||||
Less: valuation allowance | (8,394 | ) | (2,090 | ) | |||||
Net provision for Federal income taxes | $ | 0 | $ | 0 | |||||
The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows: | |||||||||
30-Sep-13 | 31-Mar-13 | ||||||||
Deferred tax asset attributable to: | |||||||||
Net operating loss carryover | $ | 14,156 | $ | 5,762 | |||||
Less: valuation allowance | (14,156 | ) | (5,762 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 | |||||
Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $41,636 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years. |
Going_Concern
Going Concern | 6 Months Ended |
Sep. 30, 2013 | |
Going Concern | ' |
Going Concern | ' |
NOTE 8 – GOING CONCERN | |
The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern. However, the Company had no revenues as of September 30, 2013. The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. | |
Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the company will be successful in this or any of its endeavors or become financially viable and continue as a going concern |
Subsequent_Events
Subsequent Events | 6 Months Ended |
Sep. 30, 2013 | |
Subsequent Events | ' |
Subsequent Events | ' |
NOTE 9 – SUBSEQUENT EVENTS | |
In accordance with ASC 855-10, the Company has analyzed its operations subsequent to September 30, 2013 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policies) | 6 Months Ended |
Sep. 30, 2013 | |
Summary Of Significant Accounting Policies Policies | ' |
Development stage company | ' |
Development Stage Company | |
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from. | |
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. | |
Accounting basis | ' |
Accounting Basis | |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a March 31 fiscal year end. | |
Cash and cash equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $438 and $29,175 of cash as of September 30, 2013 and March 31, 2013, respectively. | |
Fair value of financial instruments | ' |
Fair Value of Financial Instruments | |
The Company’s financial instruments consist of cash and cash equivalents, accrued expenses and amounts due to a shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. | |
Income taxes | ' |
Income Taxes | |
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |
Use of estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Revenue recognition | ' |
Revenue Recognition | |
The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |
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. | |
Basic-income (loss) per share | ' |
Basic Income (Loss) Per Share | |
Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of September 30, 2013. | |
Comprehensive income | ' |
Comprehensive Income | |
The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income. | |
Recent accounting pronouncements | ' |
Recent Accounting Pronouncements | |
PN Med does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Income_Taxes_Tables
Income Taxes (Tables) | 6 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Taxes Tables | ' | ||||||||
Schedule of provision for federal income tax | ' | ||||||||
The provision for Federal income tax consists of the following for the six months ended September 30, 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Federal income tax benefit attributable to: | |||||||||
Current operations | $ | 8,394 | $ | 2,090 | |||||
Less: valuation allowance | (8,394 | ) | (2,090 | ) | |||||
Net provision for Federal income taxes | $ | 0 | $ | 0 | |||||
Schedule of deferred tax assets | ' | ||||||||
The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows: | |||||||||
30-Sep-13 | 31-Mar-13 | ||||||||
Deferred tax asset attributable to: | |||||||||
Net operating loss carryover | $ | 14,156 | $ | 5,762 | |||||
Less: valuation allowance | (14,156 | ) | (5,762 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 |
Income_Taxes_Schedule_Of_Provi
Income Taxes (Schedule Of Provision For Federal Income Tax) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 20 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Income Taxes Schedule Of Provision For Federal Income Tax Details | ' | ' | ' | ' | ' |
Federal income tax benefit attributable to current operations | ' | ' | $8,394 | $2,090 | ' |
Less: valuation allowance | ' | ' | -8,394 | -2,090 | ' |
Net provision for federal income taxes | ' | ' | ' | ' | ' |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
Deferred tax assets attributable to: | ' | ' |
Net operating loss carryover | $14,156 | $5,762 |
Less: valuation allowance | 14,156 | 5,762 |
Net deferred tax asset | $0 | $0 |
Loan_From_Shareholder_Narrativ
Loan From Shareholder (Narrative) (Details) (Loans Payable, Shareholder and Officer, USD $) | 12 Months Ended | |
Mar. 31, 2013 | Mar. 31, 2012 | |
Loans Payable | Shareholder and Officer | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Proceeds from loan | $5,724 | $3,600 |
Debt instrument description | 'The loans are unsecured, non-interest bearing and due on demand | 'The loans are unsecured, non-interest bearing and due on demand |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 0 Months Ended | 2 Months Ended |
Mar. 29, 2012 | Mar. 31, 2012 | |
Common stock shares issued for cash, value | ' | $5,000 |
Common Stock | ' | ' |
Common stock shares issued for cash, shares | 5,000,000 | 5,000,000 |
Common stock shares issued for cash, value | $5,000 | $5,000 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 6 Months Ended |
Sep. 30, 2013 | |
Income Taxes Narrative Details | ' |
Net operating loss carry-forward | $41,636 |
Operation loss carryforwards terms | 'Available through 2032 |
Tax effect at the expected rate | 34.00% |