Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Jul. 31, 2015 | Sep. 14, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | Wishbone Pet Products Inc. | |
Entity Central Index Key | 1,557,668 | |
Document Type | 10-Q | |
Document Period End Date | Jul. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 3,750,000 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 |
Balance Sheets
Balance Sheets - USD ($) | Jul. 31, 2015 | Apr. 30, 2015 |
ASSETS | ||
Cash | $ 681 | $ 1,011 |
TOTAL ASSETS | 681 | 1,011 |
LIABILITIES | ||
Accounts payable & Accrued liabilities | 25,286 | 23,067 |
Loans payable | 58,000 | 48,000 |
Total Liabilities | 83,286 | 71,067 |
SHAREHOLDER'S EQUITY | ||
Capital stock authorized: 200,000,000 common shares with a par value $0.001 Issued and outstanding: 3,750,000 sh (3,500,000 - Apr 2015) Capital stock | $ 3,750 | 3,500 |
Shares Subscribed | 5,000 | |
Additional paid-in capital | $ 18,250 | 13,500 |
Deficit accumulated during the developmental stage | (104,605) | (92,056) |
TOTAL SHAREHOLDER'S EQUITY | (82,605) | (70,056) |
TOTAL LIABILITIES & SHAREHOLDER'S EQUITY | $ 681 | $ 1,011 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jul. 31, 2015 | Apr. 30, 2015 |
Statement of Financial Position [Abstract] | ||
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares issued | 3,750,000 | 3,500,000 |
Common stock, shares outstanding | 3,750,000 | 3,500,000 |
Income Statements
Income Statements - USD ($) | 3 Months Ended | |
Jul. 31, 2015 | Jul. 31, 2014 | |
OPERATING EXPENSES | ||
Professional fees | $ 4,875 | $ 2,675 |
General & administrative expenses | 6,116 | 59 |
TOTAL EXPENSES | 10,991 | 2,734 |
OPERATING LOSS | (10,991) | (2,734) |
OTHER EXPENSES | ||
Interest on loans | $ 1,557 | 1,110 |
OTHER INCOME | ||
Interest income | 1 | |
NET INCOME/(LOSS) | $ (12,548) | $ (3,843) |
Net loss per share, basic and diluted | $ (0.003) | $ (0.001) |
Weighted average common shares outstanding basic and diluted | 3,644,022 | 3,500,000 |
Statement of Changes in Stockho
Statement of Changes in Stockholder's Equity - USD ($) | Common Stock [Member] | Shares Subscribed [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Apr. 30, 2013 | $ 3,500 | $ 13,500 | $ (43,176) | $ (26,176) | |
Balance, shares at Apr. 30, 2013 | 3,500,000 | ||||
Net income/loss | (24,346) | (24,346) | |||
Balance at Apr. 30, 2014 | $ 3,500 | 13,500 | (67,522) | (50,522) | |
Balance, shares at Apr. 30, 2014 | 3,500,000 | ||||
Shares subscribed a $0.02 | $ 5,000 | 5,000 | |||
Net income/loss | (24,534) | (24,534) | |||
Balance at Apr. 30, 2015 | $ 3,500 | 5,000 | 13,500 | $ (92,056) | $ (70,056) |
Balance, shares at Apr. 30, 2015 | 3,500,000 | ||||
Shares issued at $0.02 | $ 250 | $ (5,000) | 4,750 | ||
Shares issued at $0.02, shares | 250,000 | ||||
Net income/loss | $ (12,548) | $ (12,548) | |||
Balance at Jul. 31, 2015 | $ 3,750 | $ 18,250 | $ (104,605) | $ (82,605) | |
Balance, shares at Jul. 31, 2015 | 3,750,000 |
Statement of Changes in Stockh6
Statement of Changes in Stockholder's Equity (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended |
Jul. 31, 2015 | Apr. 30, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock issued, price per share | $ 0.02 | |
Common stock subscribed, price per share | $ 0.02 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 3 Months Ended | |
Jul. 31, 2015 | Jul. 31, 2014 | |
Statement of Cash Flows [Abstract] | ||
Net income/(loss) | $ (12,548) | $ (3,843) |
Changes in current assets and liabilities: | ||
Accounts payable | 2,218 | 685 |
Net cash used in operating activities | $ (10,330) | $ (3,158) |
Cash Flows from Investing Activities | ||
Net cash used in investing activities | ||
Cash Flows from Financing Activities | ||
Proceeds from the issuance of common stock | $ 5,000 | |
Shares subscribed | (5,000) | |
Proceeds from loans payable | 10,000 | |
Net cash provided by financing activities | 10,000 | |
Net cash flows from operations | (330) | $ (3,158) |
Cash and cash equivalents, beginning of period | 1,011 | 4,240 |
Cash and cash equivalents, end of period | $ 681 | $ 1,082 |
Nature and Continuance of Opera
Nature and Continuance of Operations | 3 Months Ended |
Jul. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature and Continuance of Operations | Note 1 Nature and Continuance of Operations Wishbone Pet Products Inc. was incorporated in the State of Nevada on July 30, 2009. The Company has been in the development stage since its formation and has not realized any revenues from its planned operations. The Company is primarily engaged in the business of developing, manufacturing, marketing and selling dog waste removal devices. The Company has chosen an April 30 fiscal year end. |
Basis of Presentation - Going C
Basis of Presentation - Going Concern Uncertainties | 3 Months Ended |
Jul. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation - Going Concern Uncertainties | Note 2 Basis of Presentation Going Concern Uncertainties These financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern. The Company is at its early stages of development and has limited operations, and has sustained operating losses resulting in a deficit. The Company has accumulated a deficit of $104,605 since inception, has yet to achieve profitable operations and further losses are anticipated in the development of its business. The Companys ability to continue as a going concern is in substantial doubt and is dependent upon obtaining financing and/or achieving a sustainable profitable level of operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company may seek additional equity as necessary and it expects to raise funds through private or public equity investment or loans from directors of the Company in order to support existing operations. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all. |
Interim Reporting and Significa
Interim Reporting and Significant Accounting Policies | 3 Months Ended |
Jul. 31, 2015 | |
Accounting Policies [Abstract] | |
Interim Reporting and Significant Accounting Policies | Note 3 Interim Reporting and Significant Accounting Policies The interim financial statements are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. While the information presented is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, result of operation and cash flows for the interim periods presented in accordance with accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature. It is suggested that the interim financial statements be read in conjunction with the Companys April 30, 2015 annual financial statements. Operating results for the three month period ended July 31, 2015 are not necessarily indicative of the results that can be expected for the year ended April 30, 2016. There have been no changes in accounting policies from those disclosed in the notes to the audited financial statements for the year ended April 30, 2015. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 3 Months Ended |
Jul. 31, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Note 4 Recently issued accounting pronouncements In June 2014, the Financial Accounting Standards Board (FASB ) issued Accounting Standards Update (ASU) No. 2014-10 Development Stage Entities. (Topic 915), Elimination of Certain Financial Reporting Requirements. The amendments in ASU 2014-10 remove the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from accounting principles generally accepted in the United States of America (U.S. GAAP). In addition, the amendments eliminate the requirements for development stage entities to: (i) present inception-to-date information in the statements of income, cash flows, and shareholder equity; (ii) label the financial statements as those of a development stage entity; (iii) disclose a description of the development stage activities in which the entity is engaged; and (iv) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The presentation and disclosure requirements in ASC Topic 915, Development Stage Entities are no longer required for interim and annual reporting periods beginning after December 15, 2014. The revised consolidation standards will take effect in annual periods beginning after December 15, 2015, however, early adoption is permitted. The Company has adopted the provisions of ASU 2014-10 for these financial statements. The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any pronouncement not yet effective but recently issued by the FASB (including its Emerging Issues Task Force), the AICPA or the SEC would, if adopted, have a material effect on the accompanying financial statements. |
Notes Payable
Notes Payable | 3 Months Ended |
Jul. 31, 2015 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 5 Notes payable On December 31, 2012, the Company entered into a note payable in the amount of $17,000. This note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum) commencing January 1, 2013. As at July 31, 2015, the total principal and interest accrued was $22,270. On August 13, 2013, the Company entered into a note payable in the amount of $20,000. This note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). As at July 31, 2015, the total principal and interest accrued was $24,700. On December 12, 2014, the Company entered into a note payable in the amount of $11,000. This note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum) commencing December 04, 2014. As at July 31, 2015, the total principal and interest accrued was $11,868. On June 26, 2015, the Company entered into a note payable in the amount of $10,000. This note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). As at July 31, 2015, the total principal and interest accrued was $10,117. |
Common Shares
Common Shares | 3 Months Ended |
Jul. 31, 2015 | |
Equity [Abstract] | |
Common Shares | Note 6 Common Shares During the period ended July 31, 2015, the Company issued 250,000 common shares to investors valued at $0.02 per share. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Jul. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 7 Subsequent events The Company evaluated all events or transaction that occurred after July 31, 2015 up through date the Company issued these financial statements and found no subsequent events that needed to be reported. |
Basis of Presentation - Going15
Basis of Presentation - Going Concern Uncertainties (Details Narrative) - USD ($) | Jul. 31, 2015 | Apr. 30, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit since inception | $ 104,605 | $ 92,056 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | Jun. 26, 2015 | Dec. 12, 2014 | Aug. 13, 2013 | Dec. 31, 2012 | Jul. 31, 2015 |
Note One [Member] | |||||
Notes payable | $ 17,000 | ||||
Note due period | 30 days | ||||
Notes payable interest rate per month | 1.00% | ||||
Interest rate per annum | 12.00% | ||||
Notes payable, principal and accrued interest | $ 22,270 | ||||
Note Two [Member] | |||||
Notes payable | $ 20,000 | ||||
Note due period | 30 days | ||||
Notes payable interest rate per month | 1.00% | ||||
Interest rate per annum | 12.00% | ||||
Notes payable, principal and accrued interest | 24,700 | ||||
Note Three [Member] | |||||
Notes payable | $ 11,000 | ||||
Note due period | 30 days | ||||
Notes payable interest rate per month | 1.00% | ||||
Interest rate per annum | 12.00% | ||||
Notes payable, principal and accrued interest | 11,868 | ||||
Note Four [Member] | |||||
Notes payable | $ 10,000 | ||||
Note due period | 30 days | ||||
Notes payable interest rate per month | 1.00% | ||||
Interest rate per annum | 12.00% | ||||
Notes payable, principal and accrued interest | $ 10,117 |
Common Shares (Details Narrativ
Common Shares (Details Narrative) - Jul. 31, 2015 - Investor [Member] - $ / shares | Total |
Shares issued during period | 250,000 |
Per share value | $ 0.02 |