Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Document and Entity Information: | |
Entity Registrant Name | BALIUS CORP. |
Document Type | 10-Q |
Document Period End Date | 30-Sep-13 |
Amendment Flag | FALSE |
Entity Central Index Key | 1562738 |
Current Fiscal Year End Date | -19 |
Entity Common Stock, Shares Outstanding | 12,550,000 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | Yes |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2013 |
Document Fiscal Period Focus | Q3 |
Statement_of_Financial_Positio
Statement of Financial Position (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Assets, Current | ||
Cash and Cash Equivalents, at Carrying Value | $15,313 | $10,126 |
Inventory, Net | 2,000 | |
Prepaid Expense, Current | 6,000 | |
Assets, Current | 23,313 | 10,126 |
Assets | 23,313 | 10,126 |
Liabilities, Noncurrent | ||
Due to Related Parties, Noncurrent | 2,424 | 424 |
Liabilities | 2,424 | 424 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ||
Common Stock, Value, Issued | 12,550 | 10,000 |
Additional Paid in Capital, Common Stock | 22,950 | |
Retained Earnings (Accumulated Deficit) | -14,611 | -298 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 20,889 | 9,702 |
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures | ||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 12,140,000 | 10,000,000 |
Liabilities and Equity | $23,313 | $10,126 |
Statement_of_Income
Statement of Income (USD $) | 3 Months Ended | 9 Months Ended | 11 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Operating Expenses | |||
General and Administrative Expense | $7,246 | $14,313 | $14,611 |
Operating Expenses | 7,246 | 14,313 | 14,611 |
Operating Income (Loss) | -7,246 | -14,313 | -14,611 |
Net Income (Loss) Attributable to Parent | ($7,246) | ($14,313) | ($14,611) |
Earnings Per Share | |||
Earnings Per Share, Basic | $0 | $0 | |
Weighted Average Number of Shares Outstanding, Basic | 12,550,000 | 10,962,198 |
Statement_of_Cash_Flows
Statement of Cash Flows (USD $) | 9 Months Ended | 11 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Net Cash Provided by (Used in) Operating Activities | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($14,313) | ($14,611) |
Increase (Decrease) in Operating Assets | ||
Increase (Decrease) in Inventories | -2,000 | -2,000 |
Increase (Decrease) in Prepaid Expense and Other Assets | -6,000 | -6,000 |
Net Cash Provided by (Used in) Operating Activities | -22,313 | -22,611 |
Net Cash Provided by (Used in) Financing Activities | ||
Proceeds from Issuance of Common Stock | 25,500 | 35,500 |
Proceeds from loans | 2,000 | 2,424 |
Net Cash Provided by (Used in) Financing Activities | 27,500 | 37,924 |
Cash and Cash Equivalents, Period Increase (Decrease) | 5,187 | 15,313 |
Cash and Cash Equivalents, at Carrying Value | 10,126 | |
Cash and Cash Equivalents, at Carrying Value | $15,313 | $15,313 |
Organization_Consolidation_and
Organization, Consolidation and Presentation of Financial Statements | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements: | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies | ORGANIZATION AND BUSINESS OPERATIONS |
Organization and Description of Business | |
BALIUS CORP. (the “Company”) was incorporated under the laws of the State of Nevada on October 23, 2012 and plans to buy young Irish Sport Horses train them and resell. The Company is in the development stage as defined under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915-205 "Development-Stage Entities.” Since inception through September 30, 2013 the Company has not generated any revenue and has accumulated losses of $14,611. | |
Basis of Presentation | |
The accompanying unaudited financial statements have been prepared in accordance with the instructions from Regulation S-X and do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results of operations for the interim period(s), and to make the financial statements not misleading, have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim period(s) are not necessarily indicative of operations for a full year. | |
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 a loss since inception resulting in an accumulated deficit of $14,611 as of September 30, 2013 and further losses are anticipated in the development of its business. Accordingly, there is 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. | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Accounting Basis | |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted December 31 fiscal year end. | |
Cash and Cash Equivalents | |
For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. | |
The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At September 30, 2013 the Company's bank deposits did not exceed the insured amounts. | |
Basic and Diluted Income (Loss) Per Share | |
The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. | |
Dividends | |
The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown. | |
Income Taxes | |
The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |
Advertising Costs | |
The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during the period ended September 30, 2013. | |
Impairment of Long-Lived Assets | |
The Company, when applicable, continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. | |
Recent accounting pronouncements | |
We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. | |
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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Stock-Based Compensation | |
As of September 30, 2013 the Company has not issued any stock-based payments to its employees. | |
Stock-based compensation is accounted for at fair value in accordance with SFAS ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options. | |
Revenue Recognition | |
The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. No revenue has been earned since inception. |
Equity
Equity | 9 Months Ended |
Sep. 30, 2013 | |
Equity: | |
Stockholders' Equity Note Disclosure | COMMON STOCK |
The Company has 75,000,000 common shares authorized with a par value of $ 0.001 per share. On November 19, 2012, the Company issued 10,000,000 shares of its common stock at $0.001 per share for total proceeds of $10,000. For the nine month period ended September 30, 2013 the Company issued 2,550,000 shares of its common stock at $0.01 per share for total proceeds of $25,500. As of September 30, 2013, the Company had 12,550,000 shares issued and outstanding. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes: | |
Income Tax Disclosure | INCOME TAXES |
As of September 30, 2013 the Company had net operating loss carry forwards of $14,611 that may be available to reduce future years’ taxable income through 2033. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. |
Related_Party_Disclosures
Related Party Disclosures | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Disclosures: | |
Related Party Transactions Disclosure | RELATED PARTY TRANSACTIONS |
Since inception through September 30, 2013 the Director loaned the Company $2,424 to pay for general and administrative expenses. As of September 30, 2013, total loan amount was $2,424. The loan is non-interest bearing, due upon demand and unsecured. | |