Homie Recipes (HOMR) 10-Q 31 Jul 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	Jul. 24, 2017	Sep. 30, 2016
Details
Registrant Name		Homie Recipes, Inc.
Registrant CIK		1,555,571
SEC Form		10-Q
Period End date		Sep. 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
Filer Category		Smaller Reporting Company
Current with reporting		Yes
Voluntary filer		No
Well-known Seasoned Issuer		No
Amendment Flag		false
Document Fiscal Year Focus		2,017
Document Fiscal Period Focus		Q1
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 (unaudited)

Balance Sheets (unaudited) - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Assets, Current
Cash and Cash Equivalents, at Carrying Value	$ 0	$ 0
Assets	0	0
Liabilities, Current
Accounts Payable and Accrued Liabilities, Current	13,553	12,481
Due to Related Parties, Current	170,585	169,507
Liabilities, Current	184,138	181,988
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)	(196,878)	(194,728)
Stockholders' Equity Attributable to Parent	(184,138)	(181,988)
Liabilities and Equity	$ 0	$ 0

Balance Sheets (unaudited) - Pa

Balance Sheets (unaudited) - Parenthetical - $ / shares	Sep. 30, 2016	Jun. 30, 2016
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 (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Expenses
General and Administrative Expense	$ 2,150	$ 6,823
Operating Expenses	2,150	6,823
Net Income (Loss) Attributable to Parent	$ (2,150)	$ (6,823)
Earnings Per Share, Basic and Diluted	$ 0	$ 0
Weighted Average Number of Shares Outstanding, Basic and Diluted	69,819,980	69,819,980

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Net Cash Provided by (Used in) Operating Activities
Net Income (Loss) Attributable to Parent	$ (2,150)	$ (6,823)
Increase (Decrease) in Operating Capital
Increase (Decrease) in Accounts Payable and Accrued Liabilities	1,072	0
Net Cash Provided by (Used in) Operating Activities	(1,078)	(6,823)
Net Cash Provided by (Used in) Financing Activities
Proceeds from Related Party Debt	1,078	6,823
Net Cash Provided by (Used in) Financing Activities	1,078	6,823
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	3 Months Ended
	Sep. 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 Company has not yet commenced any significant operations.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2016
Notes
Note 2 - Summary of Significant Accounting Policies	2. 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 Company’s fiscal year end is June 30. b) Interim Financial Statements The accompanying unaudited financial statements of the Company have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ended June 30, 2017. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended June 30, 2016 included in our Form 10-K filed with the SEC. c) Use of Estimates The preparation of 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 Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. d) Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. e) 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. f) 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 September 30, 2016 and 2015. g) Subsequent Events The Company evaluated subsequent events through the date when financial statements were issued for disclosure consideration. h) Recent Accounting Pronouncements The Company’s management does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying financial statements.

Note 3 - Going Concern

Note 3 - Going Concern	3 Months Ended
	Sep. 30, 2016
Notes
Note 3 - Going Concern	3. Going Concern These Company’s 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 deficit. The Company has an accumulated deficit of $196,878 as of September 30, 2016. 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 Company’s 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 Company’s ability to continue as a going concern. The Company is currently seeking additional funding though equity offerings or debt financing to support the Company’s business.

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	3 Months Ended
	Sep. 30, 2016
Notes
Note 4 - Related Party Transactions	4. Related Party Transactions As of September 30, 2016 and June 30, 2016, the Company owed $170,585 and $169,507, 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	3 Months Ended
	Sep. 30, 2016
Notes
Note 5 - Income Taxes	5. Income Taxes As of September 30, 2016 and June 30, 2016, the Company has a net deferred tax asset comprised primarily of net operating loss carry forwards of $68,907 and $68,155, respectively. The Company provided a full valuation allowance on the net deferred tax asset because management has determined that it is more likely than not that the Company will not earn income sufficient to realize the deferred tax assets during the carryforward period. The net federal operating loss carryforward will expire between 2032 and 2036.

Note 2 - Summary of Significa11

Note 2 - Summary of Significant Accounting Policies: Basis of Presentation (Policies)	3 Months Ended
	Sep. 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 Company’s fiscal year end is June 30.

Note 2 - Summary of Significa12

Note 2 - Summary of Significant Accounting Policies: Interim Financial Statements (Policies)	3 Months Ended
	Sep. 30, 2016
Policies
Interim Financial Statements	b) Interim Financial Statements The accompanying unaudited financial statements of the Company have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ended June 30, 2017. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended June 30, 2016 included in our Form 10-K filed with the SEC.

Note 2 - Summary of Significa13

Note 2 - Summary of Significant Accounting Policies: Use of Estimates (Policies)	3 Months Ended
	Sep. 30, 2016
Policies
Use of Estimates	c) Use of Estimates The preparation of 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 Company’s 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)	3 Months Ended
	Sep. 30, 2016
Policies
Cash and Cash Equivalents	d) Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.

Note 2 - Summary of Significa15

Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies)	3 Months Ended
	Sep. 30, 2016
Policies
Income Taxes	e) 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)	3 Months Ended
	Sep. 30, 2016
Policies
Net Loss per Share	f) 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 September 30, 2016 and 2015.

Note 2 - Summary of Significa17

Note 2 - Summary of Significant Accounting Policies: Subsequent Events (Policies)	3 Months Ended
	Sep. 30, 2016
Policies
Subsequent Events	g) 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)	3 Months Ended
	Sep. 30, 2016
Policies
Recent Accounting Pronouncements	h) Recent Accounting Pronouncements The Company’s management does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying financial statements.

NOTE 1 - Organization and Nat19

NOTE 1 - Organization and Nature of Operations (Details)	3 Months Ended
	Sep. 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 ($)	Sep. 30, 2016	Jun. 30, 2016
Details
Retained Earnings (Accumulated Deficit)	$ (196,878)	$ (194,728)

Note 4 - Related Party Transa21

Note 4 - Related Party Transactions (Details) - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Details
Due to Related Parties, Current	$ 170,585	$ 169,507

Note 5 - Income Taxes (Details)

Note 5 - Income Taxes (Details) - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Details
Deferred Tax Assets, Net of Valuation Allowance	$ 68,907	$ 68,155