Duesenberg (DUSYF) 10-Q 17 Mar 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jan. 31, 2015
Document and Entity Information:
Entity Registrant Name	VGRAB COMMUNICATIONS INC.
Document Type	10-Q
Document Period End Date	31-Jan-15
Amendment Flag	FALSE
Entity Central Index Key	1551887
Current Fiscal Year End Date	-21
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 Common Stock, Shares Outstanding	8,306,661

Balance_Sheets

Balance Sheets (USD $)	Jan. 31, 2015	Oct. 31, 2014
Current Assets
Cash	$80,453	$21,512
GST recoverable	2,236	230
Total Current Assets	82,689	21,742
Unproved mineral property		11,697
Total Assets	82,689	33,439
Current Liabilities
Accounts payable	78,832	73,561
Accrued liabilities	16,670	29,002
Advances payable	62	70
Due to related parties	7,653	8,632
Total Current Liabilities	103,217	111,265
Total Liabilities	103,217	111,265
Stockholders' Deficit
Common stock value	676,375	576,375
Additional paid-in capital	-26,180	-26,180
Accumulated other comprehensive income (loss)	10,867	6,552
Deficit	-681,590	-634,573
Total Stockholders' Deficit	-20,528	-77,826
Total Liabilities and Stockholders' Deficit	$82,689	$33,439

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical)	Jan. 31, 2015	Oct. 31, 2014
Balance Sheet
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	8,306,661	7,806,661
Common stock, shares outstanding	8,306,661	7,806,661

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Operating expenses
Administration	$25,734	$18,692
Accounting	2,573	1,869
Bank charges	342	127
Consulting	1,064	3,738
Corporate communications	492	1,548
Management fees		10,281
Mineral exploration	2,573
Office	388	2,658
Professional fees	7,395	16,911
Regulatory and filing	2,984	7,266
Research and development		1,122
Travel and entertainment		935
Foreign exchange	-8,225	334
Total operating expenses	35,320	65,481
Operating income (loss)	-35,320	-65,481
Other items
Write-down of unproved property	-11,697
Net loss	-47,017	-65,481
Translation to reporting currency	4,315	5,563
Comprehensive loss	($42,702)	($59,918)
Loss per common share - basic and diluted	$0.01	$0.01
Weighted common shares outstanding - basic and diluted	7,931,661	7,083,694

Statements_of_Stockholders_Def

Statements of Stockholders' Deficit (USD $)	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Beginning 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
Translation to reporting currency			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
Common stock issued, shares	590,000
Common stock issued, value	77,375				77,375
Translation to reporting currency			1,052		1,052
Net loss for the period				-67,805	-67,805
Ending Balance, amount at Oct. 31, 2014	576,375	-26,180	6,552	-634,573	-77,826
Ending Balance, shares at Oct. 31, 2014	7,806,661
Common stock issued, shares	500,000
Common stock issued, value	100,000				100,000
Translation to reporting currency			4,315		4,315
Net loss for the period				-47,017	-47,017
Ending Balance, amount at Jan. 31, 2015	$676,375	($26,180)	$10,867	($681,590)	($20,528)
Ending Balance, shares at Jan. 31, 2015	8,306,661

Statement_of_Cash_Flows

Statement of Cash Flows (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Cash Flows used in Operating Activities
Net loss	($47,017)	($65,481)
Adjustment to reconcile net loss to net cash used in operating activities:
Property write-down	11,697
Changes in operating assets and liabilities:
GST recoverable	-2,006	-483
Prepaids		-1,000
Accounts payable	5,263	23,489
Accrued liabilities	-12,332	4,837
Due to related parties	-979	3,067
Net cash used in operating activities	-45,374	-35,571
Cash Flows from Financing Activities
Shares issued	100,000	27,000
Net cash provided by financing activities	100,000	27,000
Translation gain	4,315	5,563
Net increase (decrease) in cash during the period	58,941	-3,008
Cash, beginning of period	21,512	4,266
Cash, end of period	80,453	1,258
Supplemental Disclosure of Cash Flow Information:
Taxes
Interest

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	3 Months Ended
	Jan. 31, 2015
Notes
Organization and Basis of Presentation	NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION
	Nature of Operations
	VGrab Communications Inc. (formerly Corecomm Solutions Inc.) (the “Company”) is a development stage company.
	On January 8, 2015, the Company entered into a software purchase agreement with Hampshire Capital Limited (the “Vendor”) to acquire the Vgrab software application (“Vgrab”). Vgrab is developed for use with smartphones using the Android and Apple iOS operating systems allowing users to redeem vouchers on their smartphones at a number of retailers and merchants. On February 10, 2015, the Company completed the acquisition of VGrab (Note 2). As a result of the agreement, the Company changed its principal business focus from the acquisition and exploration of mineral resources to the software application and changed its name to VGrab Communications Inc. on February 13, 2015.
	Basis of presentation
	The unaudited interim financial statements of the Company are presented in United States dollars and 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, 2014, 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, 2014 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 ended January 31, 2015, are not necessarily indicative of the results that may be expected for the year ending October 31, 2015.
	Reclassifications
	Certain prior period amounts in the accompanying unaudited interim financial statements have been reclassified to conform to the current period’s presentation. These reclassifications had no effect on the results of operations or financial position for any period presented.
	Going Concern
	The accompanying unaudited interim financial statements have been prepared assuming the Company will continue as a going concern. Continuation as a going concern is dependent upon the ability of the Company to obtain the necessary financing to meet its obligations and pay its liabilities arising from normal business operations when they come due and ultimately upon its ability to achieve profitable operations.  The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern.  These unaudited interim financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.  Management intends to obtain additional funding by borrowing funds from its directors and officers, issuing promissory notes and/or a private placement of common stock.

Software_Purchase_Agreement_Di

Software Purchase Agreement Disclosure	3 Months Ended
	Jan. 31, 2015
Notes
Software Purchase Agreement Disclosure	NOTE 2 - SOFTWARE PURCHASE AGREEMENT
	On February 10, 2015, the Company completed the acquisition of VGrab. In consideration, the Company issued 22,500,000 shares of its common stock to the Vendor.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Jan. 31, 2015
Notes
Related Party Transactions	NOTE 3 - RELATED PARTY TRANSACTIONS
	During the three months ended January 31, 2015 and 2014, the Company incurred the following transactions with related parties:
		Three Months Ended January 31,
		2015		2014
	Mineral exploration and management fees incurred to a former director	$	--	$	2,337
	Management fees incurred to a former Chief Executive Officer		--		5,608
	Management fees incurred to a former Chief Financial Officer		--		2,337
	Total transactions with related parties	$	--	$	10,282
	At January 31, 2015, the Company owed $7,653 (October 31, 2014 - $8,632) to related parties. The amounts bear no interest, are unsecured and due on demand.

Unproved_Mineral_Properties

Unproved Mineral Properties	3 Months Ended
	Jan. 31, 2015
Notes
Unproved Mineral Properties	NOTE 4 - UNPROVED MINERAL PROPERTIES
	The Company holds interest in three mineral exploration claims located in the 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 year and $5,540 per year thereafter.
	Subsequent to the three months ended January 31, 2015, the Company closed the acquisition of the VGrab software (Note 2) and is no longer in the business of the acquisition and exploration of mineral resources. Management assessed that the carrying value of the property is not recoverable and as a result, the property is fully impaired as at January 31, 2015.

Common_Stock_Disclosure

Common Stock Disclosure	3 Months Ended
	Jan. 31, 2015
Notes
Common Stock Disclosure	NOTE 5 - COMMON STOCK
	On January 8, 2014, the Company completed a private placement and issued 300,000 shares for gross proceeds of $30,000 and paid finders a cash commission totalling $3,000 associated with this offering.
	On July 31, 2014, the Company completed a private placement and issued 325,000 common shares at a price of $0.075 per share for gross proceeds of $24,375.
	On October 31, 2014, the Company completed a private placement and issued 265,000 common shares at a price of $0.20 per share for gross proceeds of $53,000.
	On January 8, 2015, the Company completed a private placement of 500,000 shares at $0.20 per share for gross proceeds of $100,000.
	Subsequent to the quarter end, the Company issued 22,500,000 shares of its common stock to the Vendor of the VGrab software.

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation: Basis of Presentation (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Basis of Presentation	Basis of presentation
	The unaudited interim financial statements of the Company are presented in United States dollars and 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, 2014, 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, 2014 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 ended January 31, 2015, are not necessarily indicative of the results that may be expected for the year ending October 31, 2015.

Organization_and_Basis_of_Pres2

Organization and Basis of Presentation: Reclassifications (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Reclassifications	Reclassifications
	Certain prior period amounts in the accompanying unaudited interim financial statements have been reclassified to conform to the current period’s presentation. These reclassifications had no effect on the results of operations or financial position for any period presented.

Organization_and_Basis_of_Pres3

Organization and Basis of Presentation: Going Concern (Policies)	3 Months Ended
	Jan. 31, 2015
Policies
Going Concern	Going Concern
	The accompanying unaudited interim financial statements have been prepared assuming the Company will continue as a going concern. Continuation as a going concern is dependent upon the ability of the Company to obtain the necessary financing to meet its obligations and pay its liabilities arising from normal business operations when they come due and ultimately upon its ability to achieve profitable operations.  The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern.  These unaudited interim financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.  Management intends to obtain additional funding by borrowing funds from its directors and officers, issuing promissory notes and/or a private placement of common stock.

Related_Party_Transactions_Sch

Related Party Transactions: Schedule of Related Party Transactions (Tables)	3 Months Ended
	Jan. 31, 2015
Tables/Schedules
Schedule of Related Party Transactions
		Three Months Ended January 31,
		2015		2014
	Mineral exploration and management fees incurred to a former director	$	--	$	2,337
	Management fees incurred to a former Chief Executive Officer		--		5,608
	Management fees incurred to a former Chief Financial Officer		--		2,337
	Total transactions with related parties	$	--	$	10,282

Software_Purchase_Agreement_Di1

Software Purchase Agreement Disclosure (Details)	0 Months Ended
	Feb. 10, 2015
Details
Shares of common stock issued for acquisition	22,500,000

Related_Party_Transactions_Sch1

Related Party Transactions: Schedule of Related Party Transactions (Details) (USD $)	3 Months Ended
	Jan. 31, 2014
Related party expenses	$10,282
Exploration and Management fees, 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, 2015	Oct. 31, 2014
Details
Due to related parties	$7,653	$8,632

Unproved_Mineral_Properties_De

Unproved Mineral Properties (Details)	3 Months Ended	12 Months Ended
	Jan. 31, 2015	Oct. 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 year and $5,540 per year thereafter

Common_Stock_Disclosure_Detail

Common Stock Disclosure (Details) (USD $)	0 Months Ended	3 Months Ended	9 Months Ended	3 Months Ended
	Feb. 10, 2015	Jan. 31, 2014	Oct. 31, 2014	Jan. 31, 2015
Shares of common stock issued for acquisition	22,500,000
8-Jan-14
Shares of common stock issued in private placement		300,000
Gross proceeds from common stock issued in private placement		$30,000
Cash commission paid to finders		3,000
31-Jul-14
Shares of common stock issued in private placement			325,000
Gross proceeds from common stock issued in private placement			24,375
Price per common share			$0.08
31-Oct-14
Shares of common stock issued in private placement			265,000
Gross proceeds from common stock issued in private placement			53,000
Price per common share			$0.20
8-Jan-15
Shares of common stock issued in private placement				500,000
Gross proceeds from common stock issued in private placement				$100,000
Price per common share				$0.20