My City Builders (MYCB) 10-K 29 Oct 13 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Jul. 31, 2013	Oct. 20, 2013	Feb. 28, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	OCONN INDUSTRIES CORP
Entity Central Index Key	1556801
Trading Symbol	ocoo
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	-24
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		11,700,000
Entity Public Float			$0
Document Type	10-K
Document Period End Date	31-Jul-13
Amendment Flag	FALSE
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY

Balance_Sheets

Balance Sheets (USD $)	Jul. 31, 2013	Jul. 31, 2012
Current Assets
Cash and cash equivalents	$3,566	$38,127
Total Current Assets	3,566	38,127
TOTAL ASSETS	3,566	38,127
Current Liabilities
Accounts payable	300
Due to related party	990	990
Total Current Liabilities	1,290	990
TOTAL LIABILITIES	1,290	990
STOCKHOLDERS' EQUITY
Common Stock, par value $0.001, 75,000,000 shares authorized, 11,700,000 shares issued and outstanding	11,700	11,700
Additional paid-in capital	27,300	27,300
Deficit accumulated during the development stage	-36,724	-1,863
Total Stockholders' Equity	2,276	37,137
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$3,566	$38,127

Balance_Sheets_Parentheticals

Balance Sheets (Parentheticals) (USD $)	Jul. 31, 2013	Jul. 31, 2012
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares, issued	11,700,000	11,700,000
Common stock, shares, outstanding	11,700,000	11,700,000

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended		33 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013
Income Statement [Abstract]
REVENUES:
OPERATING EXPENSES:
General and administrative	992	873	2,855
Professional fees	33,869		33,869
Total Operating Expenses	34,861	873	36,724
OTHER INCOME AND EXPENSE
NET LOSS	($34,861)	($873)	($36,724)
Basic and Diluted Loss per Common Share (in dollars per share)	$0	$0
Basic and Diluted Weighted Average Common Shares Outstanding (in shares)	11,700,000	2,869,945

Statement_of_Changes_in_Stockh

Statement of Changes in Stockholders' Equity (USD $)	Common Stock	Additional Paid in Capital	Deficit Accumulated During the Development Stage	Total
Balance at Oct. 26, 2010
Balance (in shares) at Oct. 26, 2010
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			-990	-990
Balance at Jul. 31, 2011			-990	-990
Balance (in shares) at Jul. 31, 2011
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for cash to founders at $0.002 per share	6,500	6,500		13,000
Common stock issued for cash to founders at $0.002 per share (in shares)	6,500,000
Common stock issued for cash at $0.005 per share	5,200	20,800		26,000
Common stock issued for cash at $0.005 per share (in shares)	5,200,000
Net loss			-873	-873
Balance at Jul. 31, 2012	11,700	27,300	-1,863	37,137
Balance (in shares) at Jul. 31, 2012	11,700,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			-34,861	-34,861
Balance at Jul. 31, 2013	$11,700	$27,300	($36,724)	$2,276
Balance (in shares) at Jul. 31, 2013	11,700,000

Statement_of_Changes_in_Stockh1

Statement of Changes in Stockholders' Equity (Parentheticals) (USD $)	12 Months Ended
	Jul. 31, 2012
Statement of Stockholders' Equity [Abstract]
Common stock issued for cash to founders per share (in dollars per share)	$0.00
Common stock issued for cash per share (in dollars per share)	$0.01

Statement_of_Cash_Flows

Statement of Cash Flows (USD $)	12 Months Ended		33 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	($34,861)	($873)	($36,724)
Changes in operating assets and liabilities:
Accounts payable	300		300
Net cash used in operating activities	-34,561	-873	-36,424
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash provided by (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party			990
Issuance of common stock for cash		39,000	39,000
Net cash provided by financing activities		39,000	39,990
Net increase (decrease) in cash and cash equivalents	-34,561	38,127	3,566
Cash and cash equivalents - beginning of period	38,127
Cash and cash equivalents - end of period	3,566	38,127	3,566
Supplemental Cash Flow Disclosure:
Cash paid for interest
Cash paid for income taxes

ORGANIZATION_AND_BUSINESS_OPER

ORGANIZATION AND BUSINESS OPERATIONS	12 Months Ended
	Jul. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS
	OCONN INDUSTRIES CORP. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on October 26, 2010.  The Company is in the development stage as defined under ASC 915, Development Stage Enterprises and it intends to provide web-based dating services.
	The Company has not generated any revenue to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise.  For the period from inception, October 26, 2010 through July 31, 2013 the Company has accumulated losses of $36,724.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jul. 31, 2013
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Development Stage Company
	The Company is considered to be in the development stage as defined in Accounting Standards Codification (ASC) 915 “Development Stage Entities.”  The Company is devoting substantially all of its efforts to development of business plans.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.
	Fiscal Period
	The Company’s fiscal year end is July 31.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.  The Company had $3,566 and $38,127 in cash and cash equivalents at July 31, 2013 and 2012, respectively.
	Fair value of financial instruments
	The carrying amounts reported in the balance sheet for accounts payable approximate fair value because of their immediate or short term maturity.
	Start-Up Costs
	In accordance with ASC 720, “Start-up Activities”, the Company expenses all costs incurred in connection with the start-up and organization of the Company.
	Net Loss Per Share of Common Stock
	The Company has adopted ASC 260, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation.  In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period.
	The following table sets forth the computation of basic and diluted earnings per share, for the periods specified:
	Year Ended
	July 31,
		2013	2012
	Net loss	-34,861	-873
	Weighted average common shares
	outstanding (Basic)	11,700,000	2,869,945
	Weighted average common shares
	outstanding (Diluted)	11,700,000	2,869,945
	Net loss per share (Basic and Diluted)
		0	0
	Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. The Company has no potentially dilutive shares, such as options or warrants, currently issued and outstanding.
	Concentrations of Credit Risk
	The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future.  The Company places its cash and cash equivalents with financial institutions of high credit worthiness.  At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits.  The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.
	Revenue Recognition
	The Company recognizes revenue from the sale of services in accordance with ASC 605, “Revenue Recognition.”  Revenue will consist of monthly and annual membership fees and the sale banner advertising on our website and will be recognized only when all of the following criteria have been met:
	i)         Persuasive evidence for an agreement exists;
	ii)        Service has been provided;
	iii)       The fee is fixed or determinable; and
	iv)       Collection is reasonably assured.
	Recent Accounting Pronouncements
	Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ (“ASC”) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company.  Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company's present or future consolidated financial statements.

CAPITAL_STOCK

CAPITAL STOCK	12 Months Ended
	Jul. 31, 2013
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	NOTE 3 -   CAPITAL STOCK
	Authorized Stock
	The Company has authorized 75,000,000 common shares, with a par value of $0.001 per share.  Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought.
	Share Issuance
	Since inception (October 26, 2010) to July 31, 2013, the Company has issued 6,500,000 common shares at $0.002 per share for $13,000 in cash, being $6,500 for par value shares and $6,500 for capital in excess of par value and 5,200,000 common shares at $0.005 per share for $26,000 in cash, being $5,200 for par value shares and $20,800 for capital in excess of par value.  There were 11,700,000 common shares issued and outstanding at July 31, 2013 and 2012, respectively.  Of these shares, 6,500,000 were issued to officers and a director of the Company.
	The Company has no stock option plan, warrants or other dilutive securities.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Jul. 31, 2013
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 4 - INCOME TAXES
	The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.
	ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.
	The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 39 percent to net the loss before provision for income taxes for the following reasons:
		31-Jul-13		31-Jul-12
	Income tax expense at statutory rate	$	-13,596	$	-708
	Valuation allowance		13,596		708
	Income tax expense per books	$	-	$	-
	Net deferred tax assets consist of the following components as of:
		31-Jul-13		31-Jul-12
	NOL carryover	$	14,322	$	708
	Valuation allowance		-14,322		-708
	Net deferred tax asset	$	-	$	-
	Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of $36,724 for federal income tax reporting purposes are subject to annual limitations. When a change in ownership occurs, net operating loss carry forwards may be limited as to use in future years.

DUE_TO_RELATED_PARTY

DUE TO RELATED PARTY	12 Months Ended
	Jul. 31, 2013
Related Party Transactions [Abstract]
DUE TO RELATED PARTY	NOTE 5 – DUE TO RELATED PARTY
	As at July 31, 2013 and 2012, the Company was obligated to an officer, who is also a stockholder, for expenses paid for on behalf of and amounts advanced to the Company in exchange for a non-interest bearing demand loan with a balance of $990.

GOING_CONCERN_AND_LIQUIDITY_CO

GOING CONCERN AND LIQUIDITY CONSIDERATIONS	12 Months Ended
	Jul. 31, 2013
Going Concern and Liquidity Considerations [Abstract]
GOING CONCERN AND LIQUIDITY CONSIDERATIONS	NOTE 6 -  GOING CONCERN AND LIQUIDITY CONSIDERATIONS
	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business.  As at July 31, 2013, the Company has a loss from operations of $34,861 an accumulated deficit of $36,724 and has earned no revenues since inception.  The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending July 31, 2014.
	The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan.  In response to these problems, management intends to raise additional funds through public or private placement offerings.
	These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.  The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jul. 31, 2013
Accounting Policies [Abstract]
Development Stage Company	Development Stage Company
	The Company is considered to be in the development stage as defined in Accounting Standards Codification (ASC) 915 “Development Stage Entities.”  The Company is devoting substantially all of its efforts to development of business plans.
Use of Estimates
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.
Fiscal Period	Fiscal Period
	The Company’s fiscal year end is July 31.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.  The Company had $3,566 and $38,127 in cash and cash equivalents at July 31, 2013 and 2012, respectively.
Fair value of financial instruments	Fair value of financial instruments
	The carrying amounts reported in the balance sheet for accounts payable approximate fair value because of their immediate or short term maturity.
Start-Up Costs	Start-Up Costs
	In accordance with ASC 720, “Start-up Activities”, the Company expenses all costs incurred in connection with the start-up and organization of the Company.
Net Loss Per Share of Common Stock	Net Loss Per Share of Common Stock
	The Company has adopted ASC 260, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation.  In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period.
	The following table sets forth the computation of basic and diluted earnings per share, for the periods specified:
	Year Ended
	July 31,
		2013	2012
	Net loss	-34,861	-873
	Weighted average common shares
	outstanding (Basic)	11,700,000	2,869,945
	Weighted average common shares
	outstanding (Diluted)	11,700,000	2,869,945
	Net loss per share (Basic and Diluted)
		0	0
	Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. The Company has no potentially dilutive shares, such as options or warrants, currently issued and outstanding.
Concentrations of Credit Risk	Concentrations of Credit Risk
	The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future.  The Company places its cash and cash equivalents with financial institutions of high credit worthiness.  At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits.  The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.
Revenue Recognition	Revenue Recognition
	The Company recognizes revenue from the sale of services in accordance with ASC 605, “Revenue Recognition.”  Revenue will consist of monthly and annual membership fees and the sale banner advertising on our website and will be recognized only when all of the following criteria have been met:
	i)         Persuasive evidence for an agreement exists;
	ii)        Service has been provided;
	iii)       The fee is fixed or determinable; and
	iv)       Collection is reasonably assured.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ (“ASC”) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company.  Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company's present or future consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jul. 31, 2013
Accounting Policies [Abstract]
Schedule of basic and diluted earnings per share
		Year Ended
		July 31,
		2013	2012
	Net loss	-34,861	-873
	Weighted average common shares
	outstanding (Basic)	11,700,000	2,869,945
	Weighted average common shares
	outstanding (Diluted)	11,700,000	2,869,945
	Net loss per share (Basic and Diluted)
		0	0

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2013
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense
		31-Jul-13		31-Jul-12
	Income tax expense at statutory rate	$	-13,596	$	-708
	Valuation allowance		13,596		708
	Income tax expense per books	$	-	$	-
Schedule of net deferred tax assets
		31-Jul-13		31-Jul-12
	NOL carryover	$	14,322	$	708
	Valuation allowance		-14,322		-708
	Net deferred tax asset	$	-	$	-

ORGANIZATION_AND_BUSINESS_OPER1

ORGANIZATION AND BUSINESS OPERATIONS (Detail Textuals) (USD $)	Jul. 31, 2013	Jul. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated losses during the development stage	$36,724	$1,863

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of basic and diluted earnings per share (Details) (USD $)	9 Months Ended	12 Months Ended		33 Months Ended
	Jul. 31, 2011	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013
Accounting Policies [Abstract]
Net loss	($990)	($34,861)	($873)	($36,724)
Weighted average common shares outstanding (Basic) (in shares)		11,700,000	2,869,945
Weighted average common shares outstanding (Diluted) (in shares)		11,700,000	2,869,945
Net loss per share (Basic and Diluted) (in dollars per share)		$0	$0

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) (USD $)	Jul. 31, 2013	Jul. 31, 2012
Accounting Policies [Abstract]
Cash and cash equivalents	$3,566	$38,127

CAPITAL_STOCK_Detail_Textuals

CAPITAL STOCK (Detail Textuals) (USD $)	12 Months Ended			33 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2013	Jul. 31, 2013
	Vote		Common Stock	Common Stock	Common Stock	Common Stock
					Equity Issuance One	Equity Issuance Two
Schedule Of Capital Stock [Line Items]
Common shares, authorized (in shares)	75,000,000	75,000,000
Common shares, par value (in dollars per share)	$0.00	$0.00
Number of common shares issued for cash (in shares)			5,200,000		6,500,000	5,200,000
Issue price of stock issued for cash (in dollars per share)		$0.01			$0.00	$0.01
Value of common shares issued in cash		$26,000	$5,200		$13,000	$26,000
Amount of shares issued for par value shares					6,500	5,200
Amount of shares issued for capital in excess of par value	$27,300	$27,300			$6,500	$20,800
Common stock, shares, issued	11,700,000	11,700,000
Common stock, shares, outstanding	11,700,000	11,700,000
Shares issued to officers and a director				6,500,000
Number of vote each common stock holder entitles to provide	1

INCOME_TAXES_Summary_of_income

INCOME TAXES - Summary of income tax expense (Details) (USD $)	12 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Income Tax Disclosure [Abstract]
Income tax expense at statutory rate	($13,596)	($708)
Valuation allowance	13,596	708
Income tax expense per books

INCOME_TAXES_Summary_of_net_de

INCOME TAXES - Summary of net deferred tax assets (Details 1) (USD $)	Jul. 31, 2013	Jul. 31, 2012
Income Tax Disclosure [Abstract]
NOL carryover	$14,322	$708
Valuation allowance	-14,322	-708
Net deferred tax asset

INCOME_TAXES_Detail_Textuals

INCOME TAXES (Detail Textuals) (USD $)	12 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	39.00%	39.00%
Net operating loss carry forwards	$36,724

DUE_TO_RELATED_PARTY_Detail_Te

DUE TO RELATED PARTY (Detail Textuals) (USD $)	Jul. 31, 2013	Jul. 31, 2012
Related Party Transactions [Abstract]
Amount obligated to an officer for expenses paid and advanced in exchange for a non-interest bearing demand loan	$990	$990

GOING_CONCERN_AND_LIQUIDITY_CO1

GOING CONCERN AND LIQUIDITY CONSIDERATIONS (Detail Textuals) (USD $)	9 Months Ended	12 Months Ended		33 Months Ended
	Jul. 31, 2011	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013
Going Concern and Liquidity Considerations [Abstract]
Loss from operations	($990)	($34,861)	($873)	($36,724)
Accumulated losses during the development stage		$36,724	$1,863	$36,724