Duesenberg (DUSYF) 10-Q 14 Sep 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jul. 31, 2015 - shares	Total
Document and Entity Information:
Entity Registrant Name	VGRAB COMMUNICATIONS INC.
Document Type	10-Q
Document Period End Date	Jul. 31, 2015
Amendment Flag	false
Entity Central Index Key	1,551,887
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	2,015
Document Fiscal Period Focus	Q3
Entity Common Stock, Shares Outstanding	30,806,661
Trading Symbol	vgrbf

Balance Sheets

Balance Sheets - USD ($)	Jul. 31, 2015	Oct. 31, 2014
Current Assets
Cash	$ 4,978	$ 21,512
GST recoverable	750	230
Prepaids	3,521
Total Current Assets	9,249	21,742
Intangibles, net	3,464,080
Unproved mineral property		11,697
Total Assets	3,473,329	33,439
Current Liabilities
Accounts payable	76,487	74,419
Accrued liabilities	3,954	29,002
Due to related parties	66,780	7,844
Total Current Liabilities	147,221	111,265
Total Liabilities	147,221	111,265
Stockholders' Deficit
Common stock value	4,951,375	576,375
Additional paid-in capital	(26,180)	(26,180)
Accumulated other comprehensive income	(107,263)	6,552
Deficit	(1,491,824)	(634,573)
Total Stockholders' Equity (Deficit)	3,326,108	(77,826)
Total Liabilities and Stockholders' Equity (Deficit)	$ 3,473,329	$ 33,439

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - shares	Jul. 31, 2015	Oct. 31, 2014
Balance Sheet
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	30,806,661	7,806,661
Common stock, shares outstanding	30,806,661	7,806,661

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2015	Jul. 31, 2014
Operating expenses
Administration	$ 11,884	$ 6,978	$ 49,164	$ 46,065
Accounting	1,988	1,853	7,514	7,960
Amortization	365,215		685,323
Bank charges	93	86	805	509
Consulting	778		20,369	3,738
Corporate communications			1,933	1,676
Management fees				12,876
Office	339	790	728	3,448
Professional fees	2,092	4,532	11,391	18,949
Regulatory and filing	8,595	1,470	22,401	11,382
Software development			46,362	1,122
Travel and entertainment				935
Foreign exchange	4,290	(15)	(3,009)	273
Total operating expenses	395,274	15,694	842,981	108,933
Other items
Mineral exploration		1,843	2,573	1,843
Write-down of unproved mineral property			11,697
Net loss	(395,274)	(17,537)	(857,251)	(110,776)
Translation to reporting currency	(262,169)	671	(113,815)	2,611
Comprehensive loss	$ (657,443)	$ (16,866)	$ (971,066)	$ (108,165)
Loss per common share - basic and diluted	$ (0.01)	$ 0	$ (0.04)	$ (0.02)
Weighted common shares outstanding - basic and diluted	30,806,661	7,236,441	22,273,694	7,178,793

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, shares at Oct. 31, 2013	6,916,661
Beginning Balance, amount at Oct. 31, 2013	$ 472,000	$ (26,180)	$ (63)	$ (501,287)	$ (55,530)
Common stock issued for cash, shares	625,000
Common stock issued for cash, value	$ 51,375				51,375
Translation to reporting currency			2,611		2,611
Net loss for the period				(110,776)	(110,776)
Ending Balance, shares at Jul. 31, 2014	7,541,661
Ending Balance, amount at Jul. 31, 2014	$ 523,375	(26,180)	2,548	(612,063)	(112,320)
Common stock issued for cash, shares	265,000
Common stock issued for cash, value	$ 53,000				53,000
Translation to reporting currency			4,004		4,004
Net loss for the period				(22,510)	(22,510)
Ending Balance, shares at Oct. 31, 2014	7,806,661
Ending Balance, amount at Oct. 31, 2014	$ 576,375	(26,180)	6,552	(634,573)	(77,826)
Common stock issued for cash, shares	500,000
Common stock issued for cash, value	$ 100,000				$ 100,000
Common stock issued for software, shares	22,500,000				22,500,000
Common stock issued for software, value	$ 4,275,000				$ 4,275,000
Translation to reporting currency			(113,815)		(113,815)
Net loss for the period				(857,251)	(857,251)
Ending Balance, shares at Jul. 31, 2015	30,806,661
Ending Balance, amount at Jul. 31, 2015	$ 4,951,375	$ (26,180)	$ (107,263)	$ (1,491,824)	$ 3,326,108

Statement of Cash Flows

Statement of Cash Flows - USD ($)	9 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Cash Flows used in Operating Activities
Net loss	$ (857,251)	$ (110,776)
Adjustment to reconcile net loss to net cash used in operating activities:
Amortization	685,323
Write-down of unproved mineral property	11,697
Changes in operating assets and liabilities:
GST recoverable	(590)	1,467
Prepaids	(3,750)
Accounts payable	(5,987)	45,132
Accrued liabilities	(4,131)	7,515
Due to related parties	60,000	2,913
Net cash used in operating activities	(114,689)	(53,749)
Cash Flows from Financing Activities
Shares issued	100,000	51,375
Advances received		2,367
Net cash provided by financing activities	100,000	53,742
Effect of exchange rate changes on cash	(1,845)	1,016
Net increase (decrease) in cash during the period	(16,534)	1,009
Cash, beginning of period	21,512	4,266
Cash, end of period	$ 4,978	$ 5,275
Supplemental Disclosure of Cash Flow Information:
Taxes
Interest
Non-cash investing transactions:
Shares issued for software	$ 4,275,000

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Jul. 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 Application”). VGrab Application is developed to allow 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 Application (Note 2). As a result of the transaction, the Company changed its principal business focus from the acquisition and exploration of mineral resources to the software development and changed its name to VGrab Communications Inc. on February 11, 2015. On June 24, 2015, the Company formed a subsidiary, VGrab International Ltd., (the “Subsidiary”) under the Labuan Companies Act 1990 in Federal Territory of Labuan, Malaysia.

Software Purchase Agreement Dis

Software Purchase Agreement Disclosure	9 Months Ended
	Jul. 31, 2015
Notes
Software Purchase Agreement Disclosure	NOTE 2 - SOFTWARE PURCHASE AGREEMENT On January 8, 2015, the Company entered into a software purchase agreement to acquire the VGrab Software Application. The transaction was completed on February 10, 2015. In consideration for the acquisition, the Company issued 22,500,000 shares of its common stock with a fair value of $0.19 per share for a total value of $4,275,000 . The VGrab Application is amortized over three years on a straight line basis. The table below summarizes the value of the VGrab Application: July 31, 2015 Acquisition cost $ 4,275,000 Amortization (685,323) Effect of foreign currency translation (125,597) Total $ 3,464,080

Related Party Transactions

Related Party Transactions	9 Months Ended
	Jul. 31, 2015
Notes
Related Party Transactions	NOTE 3 - RELATED PARTY TRANSACTIONS During the nine months ended July 31, 2015 and 2014, the Company incurred the following transactions with related parties: Nine Months Ended July 31, 2015 2014 Management fees incurred to a former director $ -- $ 4,142 Management fees incurred to a former Chief Executive Officer -- 8,278 Management fees incurred to a former Chief Financial Officer -- 2,299 Consulting and software development costs incurred to a company controlled by a significant shareholder 61,141 -- Total transactions with related parties $ 61,141 $ 14,719 At July 31, 2015, the Company owed $66,780 (October 31, 2014 - $7,844 ) to related parties. The amounts bear no interest, are unsecured and due on demand.

Common Stock Disclosure

Common Stock Disclosure	9 Months Ended
	Jul. 31, 2015
Notes
Common Stock Disclosure	NOTE 4 - COMMON STOCK On January 8, 2014, the Company completed a private placement and issued 300,000 common 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 common shares at $0.20 per share for gross proceeds of $100,000 . On February 10, 2015, the Company issued 22,500,000 common shares at $0.19 per share (Note 3) to the Vendor of the VGrab Application.

Software Purchase Agreement D11

Software Purchase Agreement Disclosure: Summary of VGrab Application (Tables)	9 Months Ended
	Jul. 31, 2015
Tables/Schedules
Summary of VGrab Application	July 31, 2015 Acquisition cost $ 4,275,000 Amortization (685,323) Effect of foreign currency translation (125,597) Total $ 3,464,080

Related Party Transactions_ Sch

Related Party Transactions: Schedule of Related Party Transactions (Tables)	9 Months Ended
	Jul. 31, 2015
Tables/Schedules
Schedule of Related Party Transactions	Nine Months Ended July 31, 2015 2014 Management fees incurred to a former director $ -- $ 4,142 Management fees incurred to a former Chief Executive Officer -- 8,278 Management fees incurred to a former Chief Financial Officer -- 2,299 Consulting and software development costs incurred to a company controlled by a significant shareholder 61,141 -- Total transactions with related parties $ 61,141 $ 14,719

Software Purchase Agreement D13

Software Purchase Agreement Disclosure (Details) - 9 months ended Jul. 31, 2015 - USD ($)	Total
Details
Common stock issued for software acquisition	22,500,000
Total value of shares issued for software	$ 4,275,000

Software Purchase Agreement D14

Software Purchase Agreement Disclosure: Summary of VGrab Application (Details) - Jul. 31, 2015 - USD ($)	Total
Details
Software acquisition cost	$ 4,275,000
Amortization of software costs	(685,323)
Effect of foreign currency translation on software acquisition	(125,597)
Total value of VGrab Application	$ 3,464,080

Related Party Transactions_ S15

Related Party Transactions: Schedule of Related Party Transactions (Details) - USD ($)	9 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Related party expenses	$ 61,141	$ 14,719
Management fees, former director
Related party expenses		4,142
Management fees incurred, former CEO
Related party expenses		8,278
Management fees incurred, former CFO
Related party expenses		$ 2,299
Consulting and software development costs, shareholder
Related party expenses	$ 61,141

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Jul. 31, 2015	Oct. 31, 2014
Details
Due to related parties	$ 66,780	$ 7,844

Common Stock Disclosure (Detail

Common Stock Disclosure (Details) - USD ($)	3 Months Ended	9 Months Ended
	Oct. 31, 2014	Jul. 31, 2015	Jul. 31, 2014
Gross proceeds from common stock issued in private placement	$ 53,000	$ 100,000	$ 51,375
Common stock issued for software acquisition		22,500,000
January 8, 2014
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
July 31, 2014
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			$ 0.075
October 31, 2014
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
January 8, 2015
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
Software acquisition
Common stock issued for software acquisition		22,500,000
February 10, 2015
Price per common share		$ 0.19

Uncategorized Items - vgrbf-201

Label	Element	Value
Net loss	us-gaap_NetIncomeLoss	$ (17,537)
Net loss	us-gaap_NetIncomeLoss	(395,274)
Amortization {1}	us-gaap_AmortizationOfIntangibleAssets	$ 365,215