Document and Entity Information
Document and Entity Information - USD ($) | Jul. 24, 2017 | Jun. 30, 2016 | Dec. 31, 2015 |
Details | |||
Registrant Name | Homie Recipes, Inc. | ||
Registrant CIK | 1,555,571 | ||
SEC Form | 10-K | ||
Period End date | Jun. 30, 2016 | ||
Fiscal Year End | --06-30 | ||
Trading Symbol | homr | ||
Tax Identification Number (TIN) | 455,589,664 | ||
Number of common stock shares outstanding | 69,819,980 | ||
Public Float | $ 0 | ||
Filer Category | Smaller Reporting Company | ||
Current with reporting | Yes | ||
Voluntary filer | No | ||
Well-known Seasoned Issuer | No | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Incorporation, State Country Name | Nevada | ||
Entity Address, Address Line One | 112 North Curry Street, | ||
Entity Address, City or Town | Carson City, | ||
Entity Address, State or Province | Nevada | ||
Entity Address, Postal Zip Code | 89,703 | ||
City Area Code | (775) | ||
Local Phone Number | 321-8225 | ||
Entity Listing, Par Value Per Share | $ 0.001 |
Balance Sheets As of June 30, 2
Balance Sheets As of June 30, 2016 and 2015 - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 |
Assets, Current | ||
Cash and Cash Equivalents, at Carrying Value | $ 0 | $ 0 |
Assets | 0 | 0 |
Liabilities, Current | ||
Accounts Payable and Accrued Liabilities, Current | 12,481 | 5,225 |
Due to Related Parties, Current | 169,507 | 154,684 |
Liabilities, Current | 181,988 | 159,909 |
Stockholders' Equity Attributable to Parent | ||
Common Stock, Value, Issued | 69,820 | 69,820 |
Additional Paid in Capital | (57,080) | (57,080) |
Retained Earnings (Accumulated Deficit) | (194,728) | (172,649) |
Stockholders' Equity Attributable to Parent | (181,988) | (159,909) |
Liabilities and Equity | $ 0 | $ 0 |
Balance Sheets As of June 30, 3
Balance Sheets As of June 30, 2016 and 2015 - Parenthetical - $ / shares | Jun. 30, 2016 | Jun. 30, 2015 |
Details | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued | 69,819,980 | 69,819,980 |
Common Stock, Shares, Outstanding | 69,819,980 | 69,819,980 |
Statements of Operations For th
Statements of Operations For the Years Ended June 30, 2016 and 2015 - USD ($) | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Operating Expenses | ||
General and Administrative Expense | $ 22,079 | $ 40,343 |
Operating Expenses | 22,079 | 40,343 |
Net Income (Loss) Attributable to Parent | $ (22,079) | $ (40,343) |
Earnings Per Share, Basic and Diluted | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 69,819,980 | 69,819,980 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2014 | $ (119,566) | $ 69,820 | $ (57,080) | $ (132,306) |
Shares, Outstanding, Beginning Balance at Jun. 30, 2014 | 69,819,980 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (40,343) | $ 0 | 0 | (40,343) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2015 | (159,909) | $ 69,820 | (57,080) | (172,649) |
Shares, Outstanding, Ending Balance at Jun. 30, 2015 | 69,819,980 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (22,079) | $ 0 | 0 | (22,079) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2016 | $ (181,988) | $ 69,820 | $ (57,080) | $ (194,728) |
Shares, Outstanding, Ending Balance at Jun. 30, 2016 | 69,819,980 |
Statements of Cash Flows For th
Statements of Cash Flows For the Years Ended June 30, 2016 and 2015 - USD ($) | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Net Cash Provided by (Used in) Operating Activities | ||
Net Income (Loss) Attributable to Parent | $ (22,079) | $ (40,343) |
Increase (Decrease) in Operating Capital | ||
Increase (Decrease) in Accounts Payable and Accrued Liabilities | 7,256 | (16,717) |
Net Cash Provided by (Used in) Operating Activities | (14,823) | (57,060) |
Net Cash Provided by (Used in) Financing Activities | ||
Proceeds from Related Party Debt | 14,823 | 57,060 |
Net Cash Provided by (Used in) Financing Activities | 14,823 | 57,060 |
Cash and Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | 0 | 0 |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 0 | 0 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 0 | 0 |
Supplemental Cash Flow Information | ||
Interest Paid | 0 | 0 |
Income Taxes Paid | $ 0 | $ 0 |
NOTE 1 - Organization and Natur
NOTE 1 - Organization and Nature of Operations | 12 Months Ended |
Jun. 30, 2016 | |
Notes | |
NOTE 1 - Organization and Nature of Operations | 1. Organization and Nature of Operations Homie Recipes, Inc. (the "Company") was incorporated in the State of Nevada on June 22, 2012 and established a fiscal year-end of June 30. It is a start-up company that intends to stream videos and written recipes through a yet-to-be developed website. Our goal is to stream free recipes for special homemade food. The Company intends to have recipes with a special personal meaning on our website. The has not yet commenced any significant operations. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | Summary of Significant Accounting Policies a) Basis of Presentation The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (US GAAP) and are expressed in U.S. dollars. The Companys fiscal year end is June 30. b) Use of Estimates The preparation of the financial statements in conformity with US GAAP 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 and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. c) Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As of June 30, 2016 and 2015, there were no cash equivalents. d) Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. e) Net Loss per Share Basic earnings per share (EPS) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. There were no potentially dilutive securities as of June 30, 2016 and 2015. f) Subsequent Events The Company evaluated subsequent events through the date when financial statements were issued for disclosure consideration. g) Recent Accounting Pronouncements In August 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-15, Disclosure of Uncertainties about an Entitys Ability to Continue as a Going Concern |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 3 - Going Concern | Going Concern The Companys financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have material assets, nor does it have operations or a source of revenue sufficient to cover its operating costs and allow it to continue as a going concern. The Company also has suffered recurring losses from operations and has a working capital deficiency. The Company has an accumulated deficit of $194,728. The Company will be dependent upon raising additional capital through placement of our common stock in order to implement its business plan, additional borrowings from related parties, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its current operations from advances from related parties. There is no assurance that these related parties will continue to fund the Companys operating requirements. Currently, the Company has no arrangements for other sources of funds. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. Accordingly, these factors raise substantial doubt as to the Companys ability to continue as a going concern. The CEO has committed to advancing certain operating costs of the Company, including legal, audit, transfer agency and filing costs. The Company is currently seeking additional funding though equity offerings or debt financing to support the Companys business. |
Note 4 - Related Party Transact
Note 4 - Related Party Transactions | 12 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 4 - Related Party Transactions | Related Party Transactions As at June 30, 2016 and 2015, the Company had payable of $169,507 and $154,684, respectively, to the Chief Executive Officer of the Company for advances. The advances are unsecured, non-interest bearing, and due on demand. |
Note 5 - Income Taxes
Note 5 - Income Taxes | 12 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 5 - Income Taxes | Income Taxes As of June 30, 2016 and 2015, the Company has a net deferred tax asset comprised primarily of net operating loss carry forward of $68, and $60,427 , respectively. The components of the Companys deferred tax assets and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of June 30, 2016 and 2015 are as follows: June 30, 2016 June 30, 2015 Deferred tax assets $ 68,155 $ 60,427 Less: Valuation allowance (68,155) (60,427) Net deferred tax asset $ - $ - |
Note 2 - Summary of Significa12
Note 2 - Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Policies | |
Basis of Presentation | a) Basis of Presentation The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (US GAAP) and are expressed in U.S. dollars. The Companys fiscal year end is June 30. |
Note 2 - Summary of Significa13
Note 2 - Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Policies | |
Use of Estimates | b) Use of Estimates The preparation of the financial statements in conformity with US GAAP 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 and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Note 2 - Summary of Significa14
Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Policies | |
Cash and Cash Equivalents | c) Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As of June 30, 2016 and 2015, there were no cash equivalents. |
Note 2 - Summary of Significa15
Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Policies | |
Income Taxes | d) Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. |
Note 2 - Summary of Significa16
Note 2 - Summary of Significant Accounting Policies: Net Loss per Share (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Policies | |
Net Loss per Share | e) Net Loss per Share Basic earnings per share (EPS) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. There were no potentially dilutive securities as of June 30, 2016 and 2015. |
Note 2 - Summary of Significa17
Note 2 - Summary of Significant Accounting Policies: Subsequent Events (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Policies | |
Subsequent Events | f) Subsequent Events The Company evaluated subsequent events through the date when financial statements were issued for disclosure consideration. |
Note 2 - Summary of Significa18
Note 2 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Policies | |
Recent Accounting Pronouncements | g) Recent Accounting Pronouncements In August 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-15, Disclosure of Uncertainties about an Entitys Ability to Continue as a Going Concern |
Note 5 - Income Taxes_ Schedule
Note 5 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | June 30, 2016 June 30, 2015 Deferred tax assets $ 68,155 $ 60,427 Less: Valuation allowance (68,155) (60,427) Net deferred tax asset $ - $ - |
NOTE 1 - Organization and Nat20
NOTE 1 - Organization and Nature of Operations (Details) | 12 Months Ended |
Jun. 30, 2016 | |
Details | |
Entity Incorporation, State Country Name | Nevada |
Entity Incorporation, Date of Incorporation | Jun. 22, 2012 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 |
Details | ||
Retained Earnings (Accumulated Deficit) | $ (194,728) | $ (172,649) |
Note 4 - Related Party Transa22
Note 4 - Related Party Transactions (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 |
Details | ||
Due to Related Parties, Current | $ 169,507 | $ 154,684 |
Note 5 - Income Taxes (Details)
Note 5 - Income Taxes (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 |
Details | ||
Deferred Tax Assets, Gross | $ 68,155 | $ 60,427 |
Note 5 - Income Taxes_ Schedu24
Note 5 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 |
Details | ||
Deferred Tax Assets, Gross | $ 68,155 | $ 60,427 |
Less: Valuation allowance | (68,155) | (60,427) |
Net deferred tax asset | $ 0 | $ 0 |