OnePower Systems 10-Q 14 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Aug. 31, 2014	Oct. 09, 2014
Document and Entity Information:	'	'
Entity Registrant Name	'OnePower Systems Ltd.	'
Document Type	'10-Q	'
Document Period End Date	31-Aug-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0001561206	'
Current Fiscal Year End Date	'--11-30	'
Entity Common Stock, Shares Outstanding	'	17,454,545
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Aug. 31, 2014	Nov. 30, 2013
CURRENT ASSETS	'	'
Cash	$9,536	$3,003
Prepaid expenses	0	2,024
Total Assets	9,536	5,027
CURRENT LIABILITIES	'	'
Accounts payable and accrued liabilities	2,417	4,517
Notes payable, related party	40,000	20,000
Total Current Liabilities	42,417	24,517
STOCKHOLDERS' DEFICIT	'	'
Common stock Par value:$0.001, Authorized 200,000,000 shares; issued and outstanding 17,454,545 shares	17,455	17,455
Additional paid in capital	24,545	24,545
Deficit accumulated during the development stage	-74,881	-61,490
Total Stockholders' Deficit	-32,881	-19,490
Total Liabilities and Stockholders' Deficit	$9,536	$5,027

CONDENSED_BALANCE_SHEETS_PAREN

CONDENSED BALANCE SHEETS PARENTHETICALS (USD $)	Aug. 31, 2014	Nov. 30, 2013
Parentheticals	'	'
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	200,000,000	200,000,000
Common Stock, shares issued	17,454,545	17,454,545
Common Stock, shares outstanding	17,454,545	17,454,545

CONDENSED_STATEMENTS_OF_OPERAT

CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended		60 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014
REVENUES:	'	'	'	'	'
REVENUES	$0	$0	$0	$0	$0
EXPENSES	'	'	'	'	'
General and administrative expenses	3,775	6,121	13,391	14,501	74,881
Net loss	($3,775)	($6,121)	($13,391)	($14,501)	($74,881)
Loss per share of common stock Basic and diluted	$0	$0	$0	$0	$0
Weighted average shares of common stock Basic and diluted	17,454,545	17,000,000	17,454,545	17,000,000	0

CONDENSED_STATEMENT_OF_STOCKHO

CONDENSED STATEMENT OF STOCKHOLDERS' (DEFICIT) EQUITY (USD $)	Common Stock Shares	Common Stock Amount	Additional Paid-in Capital	Deficit accumulated during the development stage	Total
		USD ($)	USD ($)	USD ($)	USD ($)
Balance at Aug. 28, 2009	0	0	0	0	0
Net loss for the period	'	$0	$0	($2,696)	($2,696)
Balance at Nov. 30, 2009	0	0	0	-2,696	-2,696
Issuance of common stock on January 1, 2010 @ $0.001 per share	2,000,000	2,000	0	0	2,000
Issuance of common stock on May 27, 2010 @ $0.001 per share	4,000,000	4,000	0	0	4,000
Issuance of common stock on August 31, 2010 @ $0.001 per share	3,500,000	3,500	0	0	3,500
Issuance of common stock on September 2, 2010 @ $0.001 per share	5,500,000	5,500	0	0	5,500
Issuance of common stock on October 15, 2010 @ $0.001 per share	2,000,000	2,000	0	0	2,000
Net loss for the period	'	0	0	-5,275	-5,725
Balance at Nov. 30, 2010	17,000,000	17,000	0	-7,971	9,029
Net loss for the period	'	0	0	-2,965	-2,965
Balance at Nov. 30, 2011	17,000,000	17,000	0	-10,936	6,064
Net loss for the period	'	0	0	-10,945	-10,945
Balance at Nov. 30, 2012	17,000,000	17,000	0	-21,881	-4,881
Issuance of common stock on September 16, 2013 @ $0.055 per share	454,545	455	24,545	0	25,000
Net loss for the period	'	0	0	-39,609	-39,609
Balance at Nov. 30, 2013	17,454,545	17,455	24,545	-61,490	-19,490
Net loss for the period	'	$0	$0	($13,391)	($13,391)
Balance at Aug. 31, 2014	17,454,545	17,455	24,545	-74,881	-32,881

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended		60 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014
Cash Flows (used in) Operating Activities	'	'	'
Net loss	($13,391)	($14,501)	($74,881)
Adjustments to reconcile net income to net cash(used in) operating activities	'	'	'
Prepaid expenses	2,024	-1,155	0
Accounts payable and accrued liabilities	-2,100	106	2,417
Net Cash (used in) Operating Activities	-13,467	-15,550	-72,464
Net Cash from Investing Activities	0	0	0
Cash Flows from Financing Activities	'	'	'
Proceeds from sale of common stock	0	0	42,000
Proceeds of convertible notes payable	20,000	10,000	40,000
Net Cash provided by Financing Activities	20,000	10,000	82,000
(Decrease) increase in cash	6,533	-5,550	9,536
Cash at beginning of period	3,003	9,141	0
Cash at end of period	9,536	3,591	9,536
Supplemental Information and Non-Monetary Transaction	'	'	'
Interest Paid	0	0	0
Taxes Paid	$0	$0	$0

Interim_Reporting

Interim Reporting	9 Months Ended
	Aug. 31, 2014
Interim Reporting	'
Interim Reporting	'
	1
	Interim Reporting
	While the information presented in the accompanying interim nine months financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in accordance with accounting principles generally accepted in the United States of America. These interim financial statements follow the same accounting policies and methods of their application as the Company’s November 30, 2013 annual financial statements. All adjustments are of a normal recurring nature. It is suggested that these interim financial statements be read in conjunction with the Company’s November 30, 2013 annual financial statements.
	Operating results for the nine months ended August 31, 2014 are not necessarily indicative of the results that can be expected for the year ended November 30, 2014.

Organization_and_nature_of_ope

Organization and nature of operations	9 Months Ended
	Aug. 31, 2014
Organization and nature of operations	'
Organization and nature of operations	'
	2
	Organization and nature of operations
	OnePower Systems Ltd. ("the Company") was incorporated in the State of Nevada, USA on August 28, 2009. The Company is in its early development stage since its formation and has not realized any revenues from its planned operations. The Company is engaged in the development of electronic bill delivery and payment systems that will enable vendors the abilities to present bills and receive payments electronically.
	The Company has chosen a November 30 year end.

Going_concern_uncertainties

Going concern uncertainties	9 Months Ended
	Aug. 31, 2014
Going concern uncertainties	'
Going concern uncertainties	'
	3
	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. However, the Company has limited operations and has sustained operating losses resulting in a deficit. In view of these matters, operating as a going concern is dependent upon the Company's ability to meet its financing requirements, and the success of its future operations.
	The Company has accumulated a deficit of $74,881 since inception August 28, 2009, 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 additional 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 in order to support existing operations and expand the range of its business. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all.

Summary_of_principal_accountin

Summary of principal accounting policies	9 Months Ended
	Aug. 31, 2014
Accounting Policies:	'
Summary of principal accounting policies	'
	4
	Summary of principal accounting policies
	A summary of the significant accounting policies applied in the presentation of the accompanying financial statements follows:
	Basis of presentation
	The accompanying financial statements are stated in US dollars and have been prepared in accordance with generally accepted accounting principles in the United States of America.
	Development stage company
	The Company has not earned any revenue from limited principal operations. Accordingly, the Company’s activities have been accounted for as those of a “Development Stage Entity” as set forth in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915. Among the disclosures required by ASC Topic 915 are that the Company’s financial statements be identified as those of a development stage company, and that the statements of earnings, retained earnings and stockholders’ equity and cash flows disclose activity since the date of the Company’s inception. All losses accumulated since inception have been considered as part of the Company’s development stage activities.
	Use of estimates
	The preparation of financial statements in conformity with generally accepted accounting principles 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 revenue and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates.
	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, Including an Amendment to Variable Interest Entities Guidance in Topic 810, "Consolidation” (“ASU 2014-10”). 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 elected not to early adopt the provisions of ASU 2014-10 for these unaudited condensed 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.

Common_stock

Common stock	9 Months Ended
	Aug. 31, 2014
Common stock	'
Common stock	'
	5
	Common stock
	On January 1, 2010 the Company authorized issuance of 2,000,000 restricted shares of common stock, at a unit price of $0.001 per share, as part of a Section 4(2) subscription to a director of the Company. Total proceeds were $2,000.
	During the year ended November 30, 2010, the company received $15,000 as part of a private placement for the issuance of 15,000,000 restricted shares of common stock, at a unit price of $0.001 per share.
	During the year ended November 30, 2013, the company received $25,000 as part of a private placement for the issuance of 454,545 restricted shares of common stock, at a unit price of $0.055 per share
	The Company has not issued any stock options or warrants during the periods ended August 31, 2014 and August 31, 2013, or since inception
	There were no non-cash transactions during the period ended August 31, 2014 and August 31, 2013.

Convertible_note_payable

Convertible note payable	9 Months Ended
	Aug. 31, 2014
Schedule of Convertible note payable	'
Convertible note payable	'
	6
	Convertible note payable
	The Company has three convertible notes payable. The notes are non-interest bearing, unsecured and payable on demand. At any time prior to repayment any portion of the entire note may be converted into common stock at the discretion of the holder on the basis of $0.055 of debt to 1 share. The effect that conversion would have on earnings per share has not been disclosed due to the current anti-dilutive effect.
	Notes payable as of August 31, 2014 are:
	Convertible promissory note payable, dated November 9, 2012 non-interest bearing, due on demand	$	10,000
	Convertible promissory note payable, dated April 26, 2013 non-interest bearing, due on demand		10,000
	Convertible promissory note payable, dated March 28, 2014 non-interest bearing, due on demand		20,000
		$	40,000
	The stock of the Company has been sold at $0.055 per share for operations. The conversion rate of $0.055 creates a zero conversion benefit at current stock prices. Therefore, no beneficial conversion factor has been recorded.

Accounting_Policies_Policies

Accounting Policies (Policies)	9 Months Ended
	Aug. 31, 2014
Accounting Policies (Policies)	'
Basis of presentation	'
	Basis of presentation
	The accompanying financial statements are stated in US dollars and have been prepared in accordance with generally accepted accounting principles in the United States of America.
Development stage company	'
	Development stage company
	The Company has not earned any revenue from limited principal operations. Accordingly, the Company’s activities have been accounted for as those of a “Development Stage Entity” as set forth in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915. Among the disclosures required by ASC Topic 915 are that the Company’s financial statements be identified as those of a development stage company, and that the statements of earnings, retained earnings and stockholders’ equity and cash flows disclose activity since the date of the Company’s inception. All losses accumulated since inception have been considered as part of the Company’s development stage activities.
Use of estimates	'
	Use of estimates
	The preparation of financial statements in conformity with generally accepted accounting principles 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 revenue and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates.
Recently issued accounting pronouncements	'
	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, Including an Amendment to Variable Interest Entities Guidance in Topic 810, "Consolidation” (“ASU 2014-10”). 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 elected not to early adopt the provisions of ASU 2014-10 for these unaudited condensed 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.

Schedule_of_Convertible_note_p

Schedule of Convertible note payable (Tables)	9 Months Ended
	Aug. 31, 2014
Schedule of Convertible note payable {1}	'
Schedule of Convertible note payable	'
	Notes payable as of August 31, 2014 are:
	Convertible promissory note payable, dated November 9, 2012 non-interest bearing, due on demand	$	10,000
	Convertible promissory note payable, dated April 26, 2013 non-interest bearing, due on demand		10,000
	Convertible promissory note payable, dated March 28, 2014 non-interest bearing, due on demand		20,000
		$	40,000

Going_concern_uncertainties_as

Going concern uncertainties as follows (Details) (USD $)	Aug. 31, 2014
Going concern uncertainties as follows:	'
Accumulated a deficit	$74,881

Common_Stock_transactions_Deta

Common Stock transactions (Details) (USD $)	Aug. 31, 2014	Nov. 30, 2013	Aug. 31, 2013	Nov. 30, 2010	Jan. 01, 2010
Common stock transactions:	'	'	'	'	'
Authorized issuance of restricted shares of common stock	'	454,545	'	15,000,000	2,000,000
Restricted shares of common stock, at a unit price	'	$0.06	'	$0.00	$0.00
Total proceeds	'	'	'	'	$2,000
Received as part of a private placement	'	$25,000	'	$15,000	'
Stock options or Warrants	0	'	0	'	'
Non-cash transactions	0	'	0	'	'

Convertible_Notes_Payable_Deta

Convertible Notes Payable (Details) (USD $)	Aug. 31, 2014
Convertible Notes Payable Details	'
Convertible promissory note payable, dated November 9, 2012 non-interest bearing, due on demand	$10,000
Convertible promissory note payable, dated April 26, 2013 non-interest bearing, due on demand	10,000
Convertible promissory note payable, dated March 28, 2014 non-interest bearing, due on demand	20,000
Total Notes payable	$40,000