Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Oct. 31, 2017 | Dec. 14, 2017 | |
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 | Oct. 31, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 3,750,000 | |
Trading Symbol | WSBP | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,018 |
Balance Sheets
Balance Sheets - USD ($) | Oct. 31, 2017 | Apr. 30, 2017 |
Current Assets | ||
Cash | $ 556 | $ 583 |
TOTAL CURRENT ASSETS | 556 | 583 |
Current Liabilities | ||
Accounts payable & Accrued interest | 63,101 | 53,917 |
Loans payable | 102,129 | 95,168 |
TOTAL CURRENT LIABILITIES | 165,230 | 149,085 |
Commitments and Contingencies | ||
STOCKHOLDER'S EQUITY | ||
Capital stock authorized: 200,000,000 common shares with a par value $0.001 Issued and outstanding: 3,750,000 common shares | 3,750 | 3,750 |
Additional paid-in capital | 18,250 | 18,250 |
Accumulated deficit | (186,674) | (170,502) |
TOTAL STOCKHOLDER'S EQUITY | (164,674) | (148,502) |
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY | $ 556 | $ 583 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Oct. 31, 2017 | Apr. 30, 2017 |
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 | 3,750,000 |
Common stock, shares outstanding | 3,750,000 | 3,750,000 |
Income Statements (Unaudited)
Income Statements (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
OPERATING EXPENSES | ||||
Professional fees | $ 3,075 | $ 2,975 | $ 6,050 | $ 5,950 |
General & administrative expenses | 2,119 | 2,065 | 4,064 | 2,789 |
TOTAL EXPENSES | 5,194 | 5,040 | 10,114 | 8,739 |
OPERATING LOSS | (5,194) | (5,040) | (10,114) | (8,739) |
OTHER EXPENSES | ||||
Interest on loans | 3,064 | 2,488 | 6,058 | 4,895 |
NET INCOME/(LOSS) | $ (8,258) | $ (7,528) | $ (16,172) | $ (13,634) |
Net loss per share, basic and diluted | $ (0.002) | $ (0.002) | $ (0.004) | $ (0.004) |
Weighted average common shares outstanding basic and diluted | 3,750,000 | 3,750,000 | 3,750,000 | 3,750,000 |
Statement of Changes in Stockho
Statement of Changes in Stockholder's Equity (Unaudited) - USD ($) | Common Stock [Member] | Shares Subscribed [Member] | Additional Paid in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Apr. 30, 2016 | $ 3,750 | $ 18,250 | $ (140,609) | $ (118,609) | |
Balance, shares at Apr. 30, 2016 | 3,750,000 | ||||
Net income/loss | (29,893) | (29,893) | |||
Balance at Apr. 30, 2017 | $ 3,750 | 18,250 | (170,502) | (148,502) | |
Balance, shares at Apr. 30, 2017 | 3,750,000 | ||||
Net income/loss | (16,172) | (16,172) | |||
Balance at Oct. 31, 2017 | $ 3,750 | $ 18,250 | $ (186,674) | $ (164,674) | |
Balance, shares at Oct. 31, 2017 | 3,750,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Cash Flows from Operating Activities | ||
Net income/(loss) | $ (16,172) | $ (13,634) |
Changes in current assets and liabilities: | ||
Accounts payable & accrued interest | 9,184 | 5,747 |
Net cash used in operating activities | (6,988) | (7,887) |
Cash Flows from Financing Activities | ||
Proceeds from loans payable | 6,961 | 7,861 |
Net cash provided by financing activities | 6,961 | 7,861 |
Net decrease in cash | (27) | (26) |
Cash and cash equivalents, beginning of period | 583 | 635 |
Cash and cash equivalents, end of period | $ 556 | $ 609 |
Nature and Continuance of Opera
Nature and Continuance of Operations | 6 Months Ended |
Oct. 31, 2017 | |
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 | 6 Months Ended |
Oct. 31, 2017 | |
Basis Of Presentation - Going Concern Uncertainties | |
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 $186,674 since inception, has yet to achieve profitable operations and further losses are anticipated in the development of its business. The Company’s 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 | 6 Months Ended |
Oct. 31, 2017 | |
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 (GAAP) in the United States of America for the interim information. Accordingly, the financial statements do not include all of the information and notes required by GAAP for the complete financial statements. 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 Company’s April 30, 2017 annual financial statements. Operating results for the six month period ended October 31, 2017 are not necessarily indicative of the results that can be expected for the year ended April 30, 2018. There have been no changes in the accounting policies from those disclosed in the notes to the audited financial statements for the year ended April 30, 2017. Recently issued accounting pronouncements 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 | 6 Months Ended |
Oct. 31, 2017 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 4 Notes Payable The Company entered into 11 notes payable. They are all due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). Principal Interest Amount Accrued Total Dec 31 12 17,000 9,860 26,860 Aug 13 13 20,000 10,100 30,100 Dec 04 14 11,000 3,838 14,838 Jun 26 15 10,000 2,817 12,817 Jan 25 16 4,500 946 5,446 Mar 22 16 17,725 3,456 21,181 Jul 28 16 2,700 405 3,105 Oct 31 16 5,161 619 5,780 Jan 31 17 3,902 351 4,253 Apr 28 17 3,181 191 3,372 Jun 03 17 6,961 348 7,309 102,130 32,931 135,061 |
Common Shares
Common Shares | 6 Months Ended |
Oct. 31, 2017 | |
Equity [Abstract] | |
Common Shares | Note 5 Common Shares During the year ended April 30, 2016, the Company issued 250,000 common shares to investors valued at $0.02 per share. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Oct. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 6 Subsequent events Subsequent to October 31, 2017, the Company entered into a convertible note payable in the amount of $50,000. The note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). At any time prior to repayment, the lender may convert all or part of the principal loan into common stock of the Company at the conversion rate of $1 per share. |
Interim Reporting and Signifi13
Interim Reporting and Significant Accounting Policies (Policies) | 6 Months Ended |
Oct. 31, 2017 | |
Accounting Policies [Abstract] | |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any pronouncement not yet effective but recently issued by the FASB (including its Emerging Issues Task Force), the AICPA or the SEC would, if adopted, have a material effect on the accompanying financial statements. |
Notes Payable (Tables)
Notes Payable (Tables) | 6 Months Ended |
Oct. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Principal Interest Amount Accrued Total Dec 31 12 17,000 9,860 26,860 Aug 13 13 20,000 10,100 30,100 Dec 04 14 11,000 3,838 14,838 Jun 26 15 10,000 2,817 12,817 Jan 25 16 4,500 946 5,446 Mar 22 16 17,725 3,456 21,181 Jul 28 16 2,700 405 3,105 Oct 31 16 5,161 619 5,780 Jan 31 17 3,902 351 4,253 Apr 28 17 3,181 191 3,372 Jun 03 17 6,961 348 7,309 102,130 32,931 135,061 |
Basis of Presentation - Going15
Basis of Presentation - Going Concern Uncertainties (Details Narrative) - USD ($) | Oct. 31, 2017 | Apr. 30, 2017 |
Basis Of Presentation - Going Concern Uncertainties | ||
Accumulated deficit | $ 186,674 | $ 170,502 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) | 6 Months Ended |
Oct. 31, 2017 | |
Debt Disclosure [Abstract] | |
Note due period | 30 days |
Notes payable interest rate per month | 1.00% |
Notes payable interest rate per annum | 12.00% |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Details) - USD ($) | Oct. 31, 2017 | Jun. 03, 2017 | Apr. 28, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Jul. 28, 2016 | Mar. 22, 2016 | Jan. 25, 2016 | Jun. 26, 2015 | Dec. 04, 2014 | Aug. 13, 2013 | Dec. 31, 2012 |
Principal Amount | $ 102,130 | |||||||||||
Interest Accrued | 32,931 | |||||||||||
Total | $ 135,061 | |||||||||||
Note One [Member] | ||||||||||||
Principal Amount | $ 17,000 | |||||||||||
Interest Accrued | 9,860 | |||||||||||
Total | $ 26,860 | |||||||||||
Note Two [Member] | ||||||||||||
Principal Amount | $ 20,000 | |||||||||||
Interest Accrued | 10,100 | |||||||||||
Total | $ 30,100 | |||||||||||
Note Three [Member] | ||||||||||||
Principal Amount | $ 11,000 | |||||||||||
Interest Accrued | 3,838 | |||||||||||
Total | $ 14,838 | |||||||||||
Note Four [Member] | ||||||||||||
Principal Amount | $ 10,000 | |||||||||||
Interest Accrued | 2,817 | |||||||||||
Total | $ 12,817 | |||||||||||
Note Five [Member] | ||||||||||||
Principal Amount | $ 4,500 | |||||||||||
Interest Accrued | 946 | |||||||||||
Total | $ 5,446 | |||||||||||
Note Six [Member] | ||||||||||||
Principal Amount | $ 17,725 | |||||||||||
Interest Accrued | 3,456 | |||||||||||
Total | $ 21,181 | |||||||||||
Note Seven [Member] | ||||||||||||
Principal Amount | $ 2,700 | |||||||||||
Interest Accrued | 405 | |||||||||||
Total | $ 3,105 | |||||||||||
Note Eight [Member] | ||||||||||||
Principal Amount | $ 5,161 | |||||||||||
Interest Accrued | 619 | |||||||||||
Total | $ 5,780 | |||||||||||
Note Nine [Member] | ||||||||||||
Principal Amount | $ 3,902 | |||||||||||
Interest Accrued | 351 | |||||||||||
Total | $ 4,253 | |||||||||||
Note Ten [Member] | ||||||||||||
Principal Amount | $ 3,181 | |||||||||||
Interest Accrued | 191 | |||||||||||
Total | $ 3,372 | |||||||||||
Note Eleven [Member] | ||||||||||||
Principal Amount | $ 6,961 | |||||||||||
Interest Accrued | 348 | |||||||||||
Total | $ 7,309 |
Common Shares (Details Narrativ
Common Shares (Details Narrative) | 12 Months Ended |
Apr. 30, 2016$ / sharesshares | |
Equity [Abstract] | |
Number of common stock shares issued during the period | shares | 250,000 |
Common stock price per share | $ / shares | $ 0.02 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) | 6 Months Ended |
Oct. 31, 2017USD ($)$ / shares | |
Convertible note payable | $ 102,130 |
Note due period | 30 days |
Notes payable interest rate per month | 1.00% |
Notes payable interest rate per annum | 12.00% |
Subsequent Event [Member] | |
Convertible note payable | $ 50,000 |
Note due period | 30 days |
Notes payable interest rate per month | 1.00% |
Notes payable interest rate per annum | 12.00% |
Subsequent Event [Member] | Lender [Member] | |
Conversion rate per shares | $ / shares | $ 1 |