Organization, Consolidation and Presentation of Financial Statements | 12 Months Ended |
Aug. 31, 2013 |
Organization, Consolidation and Presentation of Financial Statements: | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies | ORGANIZATION AND BUSINESS OPERATIONS |
Divio Holdings, Corp. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on February 27, 2012. The Company is in the development stage as defined under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915, “Development Stage Entities”. We sell used motorcycles. We intend to buy used motorcycles from motorcycle auctions and dealers in the United States and resell them in Russia. We plan to specialize in the Western part of Russia. The Company has generated $6,500 in revenue as of August 31, 2013. |
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of Presentation |
The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. |
Going Concern |
The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $38,062 as of August 31, 2013 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and or private placement of common stock. |
|
Cash and Cash Equivalents |
The Company considers all highly liquid instruments with an original maturity of three months or less at the time of issuance to be cash equivalents. |
Use of Estimates and Assumptions |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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. Actual results could differ from those estimates. In management’s opinion, all adjustments necessary for a fair statement of the results for the period have been made, and all adjustments are of a normal recurring nature. |
|
Recent accounting pronouncements |
We have reviewed all the recent and not yet effective accounting pronouncements issued through the date of these financial statements, and we do not believe any of these pronouncements will have a material impact on the Company. |
|
Fiscal Periods |
|
The Company's fiscal year end is August 31. |
|
Advertising |
|
The Company follows the policy of charging the costs of advertising to expense as incurred. The Company incurred $-0- in advertising costs during the period February 27, 2012 (inception) to August 31, 2013 |
|
Revenue Recognition |
The Company will recognize revenue in accordance with FASB ASC Topic 605, “Revenue Recognition”. FASB ASC 605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. |
|
|
COMMON STOCK |
|
On August 23, 2012, the Company sold 3,000,000 shares of common stock at a price of $0.001 per share to a Director for the total proceeds of $3,000. |
|
On September 18, 2012 the Company issued 500,000 of the Company’s common shares to an officer at par value for $500. |
|
For the period from March 2013 through April 2013, the Company sold 820,000 shares of common stock at a price of $0.03 per share for the total proceeds of $24,600. |
|
As of August 31, 2013 there were 4,320,000 shares issued and outstanding. |