Sipup (SPUP) 10-Q 20 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Aug. 31, 2014	Oct. 20, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Sipup Corp	'
Entity Central Index Key	'0001563227	'
Trading Symbol	'spup	'
Current Fiscal Year End Date	'--11-30	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	4,000,000
Document Type	'10-Q	'
Document Period End Date	31-Aug-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

Condensed_Balance_Sheets_Unaud

Condensed Balance Sheets (Unaudited) (USD $)	Aug. 31, 2014	Nov. 30, 2013
ASSETS	'	'
ASSETS, Total	'	'
Liabilities	'	'
Accounts payable and accrued expenses	14,762	2,980
Loan payable - stockholders	3,615	1,755
Total current liabilities	18,377	4,735
Stockholders' Deficit:	'	'
Common stock, $0.001 par value; 75,000,000 shares authorized, 4,000,000 shares issued and outstanding	4,000	4,000
Additional paid in capital	61,068	61,068
Deficit accumulated during development stage	-83,445	-69,803
Stockholders' Deficit, Total	-18,377	-4,735
LIABILITIES AND STOCKHOLDERS' DEFICIT, Total	'	'

Condensed_Balance_Sheets_Unaud1

Condensed Balance Sheets (Unaudited) (Parentheticals) (USD $)	Aug. 31, 2014	Nov. 30, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	4,000,000	4,000,000
Common stock, shares outstanding	4,000,000	4,000,000

Condensed_Statements_of_Operat

Condensed Statements of Operations (USD $)	3 Months Ended		9 Months Ended		22 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014
Income Statement	'	'	'	'	'
Revenue, net	'	'	'	'	'
Cost of goods sold	'	'	'	'	'
Gross income	'	'	'	'	'
Expenses:	'	'	'	'	'
Officer's compensation	'	14,360	'	47,000	47,000
Computer and internet	'	'	'	89	89
Professional fees	9,752	2,640	13,572	12,703	34,822
Other	'	268	70	707	1,534
Expenses, total	9,752	17,268	13,642	60,499	83,445
Net loss before provision for income taxes	-9,752	-17,268	-13,642	-60,499	-83,445
Provision for income taxes	'	'	'	'	'
Net loss	($9,752)	($17,268)	($13,642)	($60,499)	($83,445)
Loss per common share - Basic and fully diluted (in dollars per share)	$0	($0.01)	$0	($0.02)	($0.02)
Weighted average number of shares outstanding - Basic and fully diluted (in shares)	3,250,000	3,250,000	4,000,000	3,412,116	3,714,806

Condensed_Statement_of_Stockho

Condensed Statement of Stockholders' Equity (USD $)	Common Stock	Common Stock	Common Stock	Additional Paid in Capital	Additional Paid in Capital	Additional Paid in Capital	Accumulated Deficit During Development Stage	Total	Lot 1	Lot 2
		Lot 1	Lot 2		Lot 1	Lot 2
Balance at Oct. 31, 2012	'	'	'	'	'	'	'	'	'	'
Balance (in shares) at Oct. 31, 2012	'	'	'	'	'	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'	'	'
Issuance of common shares for cash at $0.001 and $0.05 per share for November 30, 2012 and November 30, 2013 respectively	3,000	'	'	'	'	'	'	3,000	'	'
Issuance of common shares for cash at $0.001 and $0.05 per share for November 30, 2012 and November 30, 2013 respectively (in shares)	3,000,000	'	'	'	'	'	'	'	'	'
Net loss	'	'	'	'	'	'	-5,864	-5,864	'	'
Balance at Nov. 30, 2012	3,000	'	'	'	'	'	-5,864	-2,864	'	'
Balance (in shares) at Nov. 30, 2012	3,000,000	'	'	'	'	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'	'	'
Issuance of common shares for cash at $0.001 and $0.05 per share for November 30, 2012 and November 30, 2013 respectively	'	90	910	'	4,410	44,590	'	'	4,500	45,500
Issuance of common shares for cash at $0.001 and $0.05 per share for November 30, 2012 and November 30, 2013 respectively (in shares)	'	90,000	910,000	'	'	'	'	'	'	'
Contribution to additional paid in capital	'	'	'	'	9,740	2,328	'	'	9,740	2,328
Net loss	'	'	'	'	'	'	-63,939	-60,499	'	'
Balance at Nov. 30, 2013	4,000	'	'	61,068	'	'	-69,803	-4,735	'	'
Balance (in shares) at Nov. 30, 2013	4,000,000	'	'	'	'	'	'	'	'	'
Balance at Aug. 31, 2013	'	'	'	'	'	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'	'	'
Net loss	'	'	'	'	'	'	-13,642	-13,642	'	'
Balance at Aug. 31, 2014	$4,000	'	'	$61,068	'	'	($83,445)	($18,377)	'	'
Balance (in shares) at Aug. 31, 2014	4,000,000	'	'	'	'	'	'	'	'	'

Condensed_Statement_of_Stockho1

Condensed Statement of Stockholders' Equity (Parentheticals) (USD $)	1 Months Ended	12 Months Ended
	Nov. 30, 2012	Nov. 30, 2013	Nov. 30, 2013
		Lot 1	Lot 2
Common stock shares issued per share price (in dollars per share)	$0.00	$0.05	$0.05

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	9 Months Ended		22 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014
Cash flows from operating activities:	'	'	'
Net loss	($13,642)	($60,499)	($83,445)
Adjustments to reconcile net loss to net cash used by operating activities:	'	'	'
Accounts payable and accrued expenses	11,782	10,500	14,762
Net cash used by operating activities	-1,860	-49,999	-68,683
Cash flows from financing activities:	'	'	'
Proceeds from issuance of common stock	'	50,000	53,000
Stockholder's loan	1,860	-2,992	3,615
Stockholder contribution	'	'	12,068
Net cash provided by financing activities	1,860	47,008	68,683
Net increase in cash	'	-2,991	'
Cash at beginning of period	'	2,993	'
Cash at end of period	'	2	'
Cash paid during the period for:	'	'	'
Interest	'	'	'
Income taxes	'	'	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Aug. 31, 2014
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	Note 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Organization
	Sipup Corporation (“Sipup” or the “Company”) was incorporated on October 31, 2012, under the laws of the State of Nevada. The Company is in the development stage as defined under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915, “Development Stage Entities”. The Company intends to produce, pack and sell flavored yogurts.
	Basis of Presentation
	These interim unaudited condensed financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnote disclosures required by GAAP for complete financial statements. Management believes that these financial statements include all normal recurring adjustments necessary for a fair statement of the results for the interim period. Operating results for the interim period ended August 31, 2014 are not necessarily indicative of the results that may be expected for the year ending November 30, 2014. Accordingly, these financial statements should be read in conjunction with the audited financial statements and related notes for the fiscal year ended November 30, 2013.
	Revenue Recognition
	In general, the Company records revenue when persuasive evidence of an arrangement exists, services have been rendered or product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured
	Revenue will be recognized at the time the product is delivered or services are performed. Provision for sales returns will be estimated based on the Company’s historical return experience.  Revenue will be presented net of returns.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Segment Information
	The Company follows Accounting Standards Codification (“ASC”) 280, “Segment Reporting”. The Company currently operates in a single segment and will evaluate additional segment disclosure requirements as it expands its operations.
	Net Loss Per Common Share
	Basic net (loss) income per common share is calculated using the weighted average common shares outstanding during each reporting period. Diluted net (loss) income per common share adjusts the weighted average common shares for the potential dilution that could occur if common stock equivalents (convertible debt and preferred stock, warrants, stock options and restricted stock shares and units) were exercised or converted into common stock. There were no common stock equivalents at August 31, 2014.
	Income Taxes
	Deferred income taxes are recognized for the tax consequences related to temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for tax purposes at each year end, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is recognized when, based on the weight of all available evidence, it is considered more likely than not that all, or some portion, of the deferred tax assets will not be realized. Income tax expense is the sum of current income tax plus the change in deferred tax assets and liabilities.
	ASC 740, Income Taxes, requires a company to first determine whether it is more likely than not (which is defined as a likelihood of more than fifty percent) that a tax position will be sustained based on its technical merits as of the reporting date, assuming that taxing authorities will examine the position and have full knowledge of all relevant information. A tax position that meets this more likely than not threshold is then measured and recognized at the largest amount of benefit that is greater than fifty percent likely to be realized upon effective settlement with a taxing authority.
	Stock-Based Compensation (continued)
	The Company accounts for equity instruments issued to employees in accordance with ASC 718, Compensation - Stock Compensation. ASC 718 requires all share-based compensation payments to be recognized in the financial statements based on the fair value using an option pricing model. ASC 718 requires forfeitures to be estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from initial estimates.
	Equity instruments granted to non-employees are accounted for in accordance with ASC 505, Equity. The final measurement date for the fair value of equity instruments with performance criteria is the date that each performance commitment for such equity instrument is satisfied or there is a significant disincentive for non-performance.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. There were no cash equivalents at August 31, 2014.
	Recent Pronouncements
	There are no recent accounting pronouncements that apply to the Company.

LOAN_PAYABLE_STOCKHOLDER

LOAN PAYABLE - STOCKHOLDER	9 Months Ended
	Aug. 31, 2014
Short-term Debt [Abstract]	'
LOAN PAYABLE - STOCKHOLDER	'
	Note 2.  LOAN PAYABLE - STOCKHOLDER
	During the nine month period ended August 31, 2014 a stockholder advanced the Company $3,615 to pay expenses. The loan bears no interest and is payable on demand.

STOCKHOLDERS_DEFICIT

STOCKHOLDER'S DEFICIT	9 Months Ended
	Aug. 31, 2014
Equity [Abstract]	'
STOCKHOLDERS' DEFICIT	'
	Note 3.  STOCKHOLDER’S DEFICIT
	In October 2012, the Company issued 3,000,000 shares of common stock at $0.001 per share.
	In April 2013, pursuant to the terms of an offering registered with the SEC, the Company issued 90,000 shares of common stock at $0.05 per share.
	In May 2013, pursuant to the terms of an offering registered with the SEC, the Company issued 910,000 shares of common stock at $0.05 per share.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Aug. 31, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	Note 4.  INCOME TAXES
	The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. The sources and tax effects of the differences are as follows:
	Income tax provision at the federal
	statutory rate	34	%
	Effect of operating losses	(34	)%
		0	%
	As of August 31, 2014, the Company has a net operating loss carryforward of approximately $83,400. This loss will be available to offset future taxable income. If not used, this carryforward will begin to expire in 2032. The deferred tax asset relating to the operating loss carryforward has been fully reserved at August 31, 2014 due to the uncertainty of its recognition.

BASIS_OF_REPORTING

BASIS OF REPORTING	9 Months Ended
	Aug. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF REPORTING	'
	Note 5.  BASIS OF REPORTING
	The Company’s financial statements are presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.
	The Company has experienced a loss from operations during its development stage as a result of its investment necessary to achieve its operating plan, which is long-range in nature. For the period from October 31, 2012 (inception) to August 31, 2014, the Company incurred a net loss of approximately $83,400. In addition, the Company has no significant assets or revenue generating operations.
	The Company currently does not have sufficient cash to sustain itself for the next 12 months, and will require additional funding in order to execute its plan of operations and to continue as a going concern. To meet its cash needs, management expects to raise capital through a private placement offering.
	The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Aug. 31, 2014
Accounting Policies [Abstract]	'
Organization	'
	Organization
	Sipup Corporation (“Sipup” or the “Company”) was incorporated on October 31, 2012, under the laws of the State of Nevada. The Company is in the development stage as defined under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915, “Development Stage Entities”. The Company intends to produce, pack and sell flavored yogurts.
Basis of Presentation	'
	Basis of Presentation
	These interim unaudited condensed financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnote disclosures required by GAAP for complete financial statements. Management believes that these financial statements include all normal recurring adjustments necessary for a fair statement of the results for the interim period. Operating results for the interim period ended August 31, 2014 are not necessarily indicative of the results that may be expected for the year ending November 30, 2014. Accordingly, these financial statements should be read in conjunction with the audited financial statements and related notes for the fiscal year ended November 30, 2013.
Revenue Recognition	'
	Revenue Recognition
	In general, the Company records revenue when persuasive evidence of an arrangement exists, services have been rendered or product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured
	Revenue will be recognized at the time the product is delivered or services are performed. Provision for sales returns will be estimated based on the Company’s historical return experience.  Revenue will be presented net of returns.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Segment Information	'
	Segment Information
	The Company follows Accounting Standards Codification (“ASC”) 280, “Segment Reporting”. The Company currently operates in a single segment and will evaluate additional segment disclosure requirements as it expands its operations.
Net Loss Per Common Share	'
	Net Loss Per Common Share
	Basic net (loss) income per common share is calculated using the weighted average common shares outstanding during each reporting period. Diluted net (loss) income per common share adjusts the weighted average common shares for the potential dilution that could occur if common stock equivalents (convertible debt and preferred stock, warrants, stock options and restricted stock shares and units) were exercised or converted into common stock. There were no common stock equivalents at August 31, 2014.
Income Taxes	'
	Income Taxes
	Deferred income taxes are recognized for the tax consequences related to temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for tax purposes at each year end, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is recognized when, based on the weight of all available evidence, it is considered more likely than not that all, or some portion, of the deferred tax assets will not be realized. Income tax expense is the sum of current income tax plus the change in deferred tax assets and liabilities.
	ASC 740, Income Taxes, requires a company to first determine whether it is more likely than not (which is defined as a likelihood of more than fifty percent) that a tax position will be sustained based on its technical merits as of the reporting date, assuming that taxing authorities will examine the position and have full knowledge of all relevant information. A tax position that meets this more likely than not threshold is then measured and recognized at the largest amount of benefit that is greater than fifty percent likely to be realized upon effective settlement with a taxing authority.
Stock-Based Compensation	'
	Stock-Based Compensation
	The Company accounts for equity instruments issued to employees in accordance with ASC 718, Compensation - Stock Compensation. ASC 718 requires all share-based compensation payments to be recognized in the financial statements based on the fair value using an option pricing model. ASC 718 requires forfeitures to be estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from initial estimates.
	Equity instruments granted to non-employees are accounted for in accordance with ASC 505, Equity. The final measurement date for the fair value of equity instruments with performance criteria is the date that each performance commitment for such equity instrument is satisfied or there is a significant disincentive for non-performance.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. There were no cash equivalents at August 31, 2014.
Recent Pronouncements	'
	Recent Pronouncements
	There are no recent accounting pronouncements that apply to the Company.

INCOME_TAXES_Tables

INCOME TAXES (Tables)	9 Months Ended
	Aug. 31, 2014
Income Tax Disclosure [Abstract]	'
Schedule of sources and tax effects of the differences	'
	Income tax provision at the federal
	statutory rate	34	%
	Effect of operating losses	(34	)%
		0	%

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals)	9 Months Ended
	Aug. 31, 2014
Accounting Policies [Abstract]	'
Incorporation date of an entity	31-Oct-12
Name of state of an entity incorporated	'State of Nevada

LOANS_PAYABLE_STOCKHOLDER_Deta

LOANS PAYABLE - STOCKHOLDER (Detail Textuals) (Loans payable, Stockholder, USD $)	9 Months Ended
	Aug. 31, 2014
Loans payable | Stockholder	'
Short-term Debt [Line Items]	'
Loan from stockholders	$3,615

STOCKHOLDERS_DEFICIT_Detail_Te

STOCKHOLDER'S DEFICIT (Detail Textuals) (USD $)	0 Months Ended	1 Months Ended
	Oct. 31, 2012	31-May-13	Apr. 30, 2013
Equity [Abstract]	'	'	'
Number of common stock shares issued (in shares)	3,000,000	910,000	90,000
Common stock shares issued per share price (in dollars per share)	$0.00	$0.05	$0.05

INCOME_TAXES_Summary_of_source

INCOME TAXES - Summary of sources and tax effects of the differences (Details)	9 Months Ended
	Aug. 31, 2014
Income Tax Disclosure [Abstract]	'
Income tax provision at the federal statutory rate	34.00%
Effect of operating losses	-34.00%
Effective income tax rate reconciliation, percent	0.00%

INCOME_TAXES_Detail_Textuals

INCOME TAXES (Detail Textuals) (USD $)	Aug. 31, 2014
Income Tax Disclosure [Abstract]	'
Net operating loss carryforward	$83,400

BASIS_OF_REPORTING_Detail_Text

BASIS OF REPORTING (Detail Textuals) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended		22 Months Ended
	Nov. 30, 2012	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014	Nov. 30, 2013	Aug. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'	'	'	'	'	'	'
Net loss	($5,864)	($9,752)	($17,268)	($13,642)	($60,499)	($13,642)	($60,499)	($83,445)