Duesenberg (DUSYF) 10-Q 17 Mar 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jan. 31, 2014
Document and Entity Information:	'
Entity Registrant Name	'CORECOMM SOLUTIONS INC.
Document Type	'10-Q
Document Period End Date	31-Jan-14
Amendment Flag	'false
Entity Central Index Key	'0001551887
Current Fiscal Year End Date	'--10-31
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	'2014
Document Fiscal Period Focus	'Q1
Entity Common Stock, Shares Outstanding	7,216,661

Balance_Sheets

Balance Sheets (USD $)	Jan. 31, 2014	Oct. 31, 2013
Current Assets	'	'
Cash	$1,258	$4,266
GST recoverable	2,443	1,960
Prepaids	1,000	'
Total Current Assets	4,701	6,226
Unproved mineral property	11,697	11,697
Total Assets	16,398	17,923
Current Liabilities	'	'
Accounts payable	80,112	56,623
Accrued liabilities	13,851	9,014
Due to related parties	10,883	7,816
Total Current Liabilities	104,846	73,453
Total Liabilities	104,846	73,453
Stockholders' Deficit	'	'
Common stock value	499,000	472,000
Additional paid-in capital	-26,180	-26,180
Comprehensive loss	5,500	-63
Deficit	-566,768	-501,287
Total Stockholders' Deficit	-88,448	-55,530
Total Liabilities and Stockholders' Deficit	$16,398	$17,923

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Jan. 31, 2014	Oct. 31, 2013
Balance Sheet	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	'	'
Common stock, shares issued	7,216,661	6,916,661
Common stock, shares outstanding	7,216,661	6,916,661

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended		42 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014
Operating expenses	'	'	'
Administration	$18,692	$2,500	$46,043
Accounting	1,869	1,110	47,256
Bank charges	127	76	1,642
Consulting	3,738	2,500	96,662
Corporate communications	1,548	'	2,590
Management fees	10,281	6,000	199,801
Mineral exploration	'	1,000	24,220
Office	2,658	5,432	30,181
Professional fees	16,911	1,066	105,300
Regulatory and filing	7,266	3,112	46,374
Research and development	1,122	'	1,122
Travel and entertainment	935	'	4,964
Foreign exchange	334	'	1,191
Loss before other items	-65,481	-22,796	-607,346
Other items	'	'	'
Exploration tax credit	'	'	1,960
Interest income	'	'	42,218
Write-down of unproved mineral properties	'	'	-3,600
Net loss	($65,481)	($22,796)	($566,768)
Loss per common share - basic and diluted	$0.01	$0	'
Weighted common shares outstanding - basic and diluted	7,083,694	6,919,661	'

Statements_of_Stockholders_Def

Statements of Stockholders' Deficit (USD $)	Common Stock	Additional Paid-in Capital	Comprehensive Loss	Accumulated Deficit	Total
Beginning Balance, amount at Oct. 31, 2012	$472,000	($27,180)	'	($348,123)	$96,697
Beginning Balance, shares at Oct. 31, 2012	6,916,661	'	'	'	'
Net loss for the period	'	'	'	-22,796	-22,796
Ending Balance, amount at Jan. 31, 2013	472,000	-27,180	'	-370,919	73,901
Ending Balance, shares at Jan. 31, 2013	6,916,661	'	'	'	'
Donated services	'	1,000	'	'	1,000
Effect of exchange rate changes on cash	'	'	-63	'	-63
Net loss for the period	'	'	'	-130,368	-130,368
Ending Balance, amount at Oct. 31, 2013	472,000	-26,180	-63	-501,287	-55,530
Beginning Balance, shares at Oct. 31, 2013	6,916,661	'	'	'	'
Common stock issued, shares	300,000	'	'	'	'
Common stock issued, value	27,000	'	'	'	27,000
Effect of exchange rate changes on cash	'	'	5,563	'	5,563
Net loss for the period	'	'	'	-65,481	-65,481
Ending Balance, amount at Jan. 31, 2014	$499,000	($26,180)	$5,500	($566,768)	($88,448)
Ending Balance, shares at Jan. 31, 2014	7,216,661	'	'	'	'

Statement_of_Cash_Flows

Statement of Cash Flows (USD $)	3 Months Ended		42 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014
Cash Flows used in Operating Activities	'	'	'
Net loss	($65,481)	($22,796)	($566,768)
Adjustment to reconcile net loss to net cash used in operating activities:	'	'	'
Consulting fees	'	'	26,250
Donated services	'	'	1,000
Property write-off	'	'	3,600
Changes in operating assets and liabilities:	'	'	'
GST recoverable	-483	-3,982	-2,443
Prepaids	-1,000	'	-1,000
Accounts payable and accrued liabilities	28,326	-13,782	132,612
Due to related parties	3,067	'	142,734
Net cash used in operating activities	-35,571	-40,560	-264,015
Cash Flows from Investing Activities	'	'	'
Notes receivable, net of allowance	'	'	27,180
Property acquisition costs	'	'	297
Net cash provided by investing activities	'	'	-27,477
Cash Flows from Financing Activities	'	'	'
Shares issued	27,000	'	287,250
Net cash provided by financing activities	27,000	'	287,250
Effect of exchange rate changes on cash	5,563	'	5,500
Net increase (decrease) in cash during the period	-3,008	-40,560	1,258
Cash, beginning of period	4,266	117,120	'
Cash, end of period	1,258	76,560	1,258
Supplemental Disclosure of Cash Flow Information:	'	'	'
Taxes	'	'	'
Interest	'	'	'
Non-cash transactions:	'	'	'
Shares issued for mineral properties	'	'	15,000
Shares issued for settlement of debt	$170,500	'	$170,500

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	3 Months Ended
	Jan. 31, 2014
Notes	'
Organization and Basis of Presentation	'
	NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION
	Nature of Operations
	CoreComm Solutions Inc. (the “Company”) entered into a license agreement (the “License Agreement”) on December 2, 2013 allowing the Company to commercialize a web-based technology used for performing complex search queries on the internet in the education market for English and Spanish users (the “Technology”) (Note 3). As a result of the agreement, the Company changed its principal business focus from the acquisition and exploration of mineral resources to technology and changed its name to CoreComm Solutions Inc. on January 6, 2014.
	The unaudited interim financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). They do not include all information and footnotes required by GAAP for complete financial statements. Except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended October 31, 2013, included in the Company’s annual report on Form 10-K, filed with the SEC. The interim unaudited financial statements should be read in conjunction with those financial statements for the year ended October 31, 2013 included in the Company’s annual report on Form 10-K. In the opinion of management, all adjustments considered necessary for fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months period ended January 31, 2014, are not necessarily indicative of the results that may be expected for the year ending October 31, 2014.
	Recent Accounting Pronouncements
	The Company has reviewed recently issued accounting pronouncements and plans to adopt those that are applicable to it. It does not expect the adoption of these pronouncements to have a material impact on its financial position, results of operations or cash flows.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Jan. 31, 2014
Notes	'
Related Party Transactions	'
	NOTE 2 – RELATED PARTY TRANSACTIONS
	The Company incurred the following transactions with related parties that are not disclosed elsewhere in the financial statements:
		Three Months ended January 31,
		2014	2013
	Management fees incurred to a former director	$ --	$3,000
	Consulting and management fees incurred to a former officer	--	3,360
	Management fees incurred to a director	2,337	--
	Management fees incurred to a Chief Executive Officer of the Company	5,608	--
	Management fees incurred to a Chief Financial Officer of the Company	2,337	--
	Total transactions with related parties	10,282	6,360
	At January 31, 2014, the Company owed $10,883 (2013 - $7,816) to related parties. The amount bears no interest, is due on demand and is unsecured.

License_Agreement_Note

License Agreement, Note	3 Months Ended
	Jan. 31, 2014
Notes	'
License Agreement, Note	'
	NOTE 3 - LICENSE AGREEMENT
	On December 2, 2013, the Company entered into the License Agreement with an arms-length party (the “Vendor”) for the Technology (Note 1).
	In consideration of the License Agreement, the Company is required to make cash payments totaling $500,000 and issue a total of 2,857,142 common shares of the Company according to the following schedule:
	·      $100,000 no later than April 1, 2014;
	·      $200,000 no later than August 1, 2014; and
	·      $200,000 no later than January 1, 2015.
	·      2,857,142 common shares no later than the day following the closing of the proposed private placement for 5,000,000 common shares of the Company at $0.10 per share (Note 5).
	In addition, if, while using the Technology, the number of daily queries the Company receives exceeds 125,000, the Company will be required to pay a gross revenue share to the Vendor of 45% for each additional query.
	The initial term of the License Agreement is 50 years. The Company has the right to terminate the License Agreement at any time if the Company is unsuccessful in raising minimum financing of $500,000.

Unproved_Mineral_Properties

Unproved Mineral Properties	3 Months Ended
	Jan. 31, 2014
Notes	'
Unproved Mineral Properties	'
	NOTE 4 - UNPROVED MINERAL PROPERTIES
	At January 31, 2014, the Company held interest in three mineral exploration claims located in vicinity of Osoyoos, British Columbia.
	To keep the claims in good standing, the Company is required to incur exploration expenses of approximately $678 per year for the next two years and $5,540 per year thereafter.

Common_Stock_Note

Common Stock, Note	3 Months Ended
	Jan. 31, 2014
Notes	'
Common Stock, Note	'
	NOTE 5 - COMMON STOCK
	On December 2, 2013, the Company announced a private offering of up to 5,000,000 common shares of the Company at a price of $0.10 per share.
	On January 8, 2014, the Company closed the first tranche and issued 300,000 shares for gross proceeds of $30,000. The Company paid finders a cash commission totalling $3,000 associated with the first tranche.
	Subsequent to January 31, 2014, the Company received a subscription for 60,000 shares for gross proceeds of $6,000.

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation: Recent Accounting Pronouncements (Policies)	3 Months Ended
	Jan. 31, 2014
Policies	'
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	The Company has reviewed recently issued accounting pronouncements and plans to adopt those that are applicable to it. It does not expect the adoption of these pronouncements to have a material impact on its financial position, results of operations or cash flows.

Related_Party_Transactions_Sch

Related Party Transactions: Schedule of Related Party Transactions (Tables)	3 Months Ended
	Jan. 31, 2014
Tables/Schedules	'
Schedule of Related Party Transactions	'
		Three Months ended January 31,
		2014	2013
	Management fees incurred to a former director	$ --	$3,000
	Consulting and management fees incurred to a former officer	--	3,360
	Management fees incurred to a director	2,337	--
	Management fees incurred to a Chief Executive Officer of the Company	5,608	--
	Management fees incurred to a Chief Financial Officer of the Company	2,337	--
	Total transactions with related parties	10,282	6,360

Related_Party_Transactions_Sch1

Related Party Transactions: Schedule of Related Party Transactions (Details) (USD $)	3 Months Ended
	Jan. 31, 2014	Jan. 31, 2013
Related party expenses	$10,282	$6,360
Management fees, former director	'	'
Related party expenses	'	3,000
Consulting and management fees, former officer	'	'
Related party expenses	'	3,360
Management fees incurred, director	'	'
Related party expenses	2,337	'
Management fees incurred, CEO	'	'
Related party expenses	5,608	'
Management fees incurred, CFO	'	'
Related party expenses	$2,337	'

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	Jan. 31, 2014	Jan. 31, 2013
Details	'	'
Payable to related parties	$10,883	$7,816

License_Agreement_Note_Details

License Agreement, Note (Details) (USD $)	3 Months Ended
	Jan. 31, 2014	Dec. 02, 2013
Cash payments required to be made	'	$500,000
Total common shares required to be issued	'	2,857,142
Additional commitment description	'if, while using the Technology, the number of daily queries the Company receives exceeds 125,000, the Company will be required to pay a gross revenue share to the Vendor of 45% for each additional query	'
Initial term of the agreement	'	50
Minimum financing amount	'	500,000
1-Apr-14	'	'
Cash payments required to be made	'	100,000
1-Aug-14	'	'
Cash payments required to be made	'	200,000
1-Jan-15	'	'
Cash payments required to be made	'	$200,000

Unproved_Mineral_Properties_De

Unproved Mineral Properties (Details)	3 Months Ended
	Jan. 31, 2014
Details	'
Number of mineral claims held interest in	'three
Mineral claims, good standing	'To keep the claims in good standing, the Company is required to incur exploration expenses of approximately $678 per year for the next two years and $5,540 per year thereafter.

Common_Stock_Note_Details

Common Stock, Note (Details) (USD $)	3 Months Ended	1 Months Ended
	Jan. 31, 2014	Mar. 17, 2014
	8-Jan-14	Subsequent to January 31, 2014
Shares of common stock issued in private placement	300,000	60,000
Gross proceeds from common stock issued in private placement	$30,000	$6,000
Cash commission paid to finders	$3,000	'