Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
31-May-14 | Aug. 05, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'LUCKYCOM INC | ' |
Entity Central Index Key | '0001567098 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-May-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--02-28 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | 10,500,000 | 10,500,000 |
Document Fiscal Period Focus | 'Q1 | ' |
Document Fiscal Year Focus | '2014 | ' |
CONSOLIDATED_BALANCE_SHEETS_UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $) | 31-May-14 | Feb. 28, 2014 |
Current assets | ' | ' |
Cash and cash equivalents | $73,123 | $94,320 |
Other asset | ' | ' |
Drug license, net of $25,208 and $18,333 amortization | 29,792 | 36,667 |
TOTAL ASSETS | 102,915 | 130,987 |
Current Liabilities | ' | ' |
Accounts payable and accrued expenses | 2,249 | 10,308 |
Due to officer | 228,299 | 191,851 |
Total Liabilities | 230,548 | 202,159 |
Stockholders' Deficit | ' | ' |
Common stock, $0.01 par value, 100,000,000 shares authorized, 10,500,000 shares issued and outstanding | 105,000 | 105,000 |
Additional paid in capital | 86,000 | 86,000 |
Stock subscription receivable | ' | ' |
Accumulated other comprehensive income | 10 | 10 |
Accumulated deficit | -318,643 | -262,182 |
Total Stockholders' Deficit | -127,633 | -71,172 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $102,915 | $130,987 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | 31-May-14 | Feb. 28, 2014 |
Statement of Financial Position [Abstract] | ' | ' |
Drug license amortization | $25,208 | $18,333 |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, Shares Authorised | 100,000,000 | 100,000,000 |
Common Stock, Shares Issued | 10,500,000 | 10,500,000 |
Common Stock, Shares Outstanding | 10,500,000 | 10,500,000 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $) | 3 Months Ended | |
31-May-14 | 31-May-13 | |
Income Statement [Abstract] | ' | ' |
TOTAL OPERATING EXPENSES | $56,461 | $50,090 |
NET LOSS | ($56,461) | ($50,090) |
NET LOSS PER SHARE: BASIC AND DILUTED | ($0.01) | $0 |
WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC AND DILUTED | 10,500,000 | 10,000,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $) | 3 Months Ended | |
31-May-14 | 31-May-13 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net loss for the period | ($56,461) | ($50,090) |
Amortization of drug license | 6,875 | ' |
Changes in assets and liabilities: | ' | ' |
Increase (decrease) in accounts payable | -9,344 | ' |
Increase (decrease) in accrued expenses | 1,285 | -9,690 |
Net Cash Used in Operating Activities | -57,645 | -59,780 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Cash received from collection of stock subscriptions | ' | 119,331 |
Proceeds from officer loans | 36,448 | ' |
Repayments of officer loans | ' | -27,169 |
Net Cash Provided by Financing Activities | 36,448 | 92,162 |
Exchange rate effect on cash | ' | ' |
Net Increase in Cash and Cash Equivalents | -21,197 | 32,382 |
Cash and cash equivalents, beginning of period | 94,320 | ' |
Cash and cash equivalents, end of period | 73,123 | 32,382 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' |
Interest paid | ' | ' |
Income taxes paid | ' | ' |
ORGANIZATION_AND_BASIS_OF_PRES
ORGANIZATION AND BASIS OF PRESENTATION | 3 Months Ended |
31-May-14 | |
Accounting Policies [Abstract] | ' |
ORGANIZATION AND BASIS OF PRESENTATION | ' |
NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION | |
The accompanying consolidated unaudited interim financial statements of Luckycom, Inc., (the “Company,” “we” or “our”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities | |
and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto of the Company contained in the Company’s Form S-1 filed with the SEC on June 11, 2014. | |
In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the fiscal year ended May 31, 2014 as reported in the Company’s Form S-1 have been omitted. | |
Organization and Description of Business | |
Luckycom, Inc. plans to be in the business of manufacturing, marketing, distributing and selling pharmaceutical medicines in developing countries. Lucky plans to spread its operations throughout Asia and other developing countries as resources permit. Luckycom Limited, a wholly-owned subsidiary of Luckycom, Inc., was incorporated in Hong Kong as Goldsans Capital (Hong Kong) Limited on November 2, 2011. The name was changed to Wudor Capital Hong Kong Limited on May 17, 2012 and to Luckycom Limited on May 21, 2013. | |
Development Stage Company | |
The company has limited operations and is considered to be in the development stage. In the period ended May 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the company to remove the inception to date information and all references to development stage | |
Recent Accounting Pronouncements | |
Lucky does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
GOING_CONCERN
GOING CONCERN | 3 Months Ended |
31-May-14 | |
Notes to Financial Statements | ' |
GOING CONCERN | ' |
NOTE 2 – 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 losses since inception resulting in an accumulated deficit of $318,643 as of May 31, 2014 and further losses are anticipated in the development of its business raising 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 obtaining 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. |
LOANS_PAYABLE_RELATED_PARTY
LOANS PAYABLE - RELATED PARTY | 3 Months Ended |
31-May-14 | |
Payables and Accruals [Abstract] | ' |
LOANS PAYABLE - RELATED PARTY | ' |
NOTE 3 – LOANS PAYABLE – RELATED PARTY | |
An officer and shareholder loaned a net of $36,448 to the Company during the three months ended May 31, 2014 and is owed a total of $228,299 as of that date. The amounts are unsecured, non-interest bearing and due on demand. |
ORGANIZATION_AND_BASIS_OF_PRES1
ORGANIZATION AND BASIS OF PRESENTATION (Policies) | 3 Months Ended |
31-May-14 | |
Accounting Policies [Abstract] | ' |
Organization and Description of Business | ' |
Organization and Description of Business | |
Luckycom, Inc. plans to be in the business of manufacturing, marketing, distributing and selling pharmaceutical medicines in developing countries. Lucky plans to spread its operations throughout Asia and other developing countries as resources permit. Luckycom Limited, a wholly-owned subsidiary of Luckycom, Inc., was incorporated in Hong Kong as Goldsans Capital (Hong Kong) Limited on November 2, 2011. The name was changed to Wudor Capital Hong Kong Limited on May 17, 2012 and to Luckycom Limited on May 21, 2013. | |
Development Stage Company | ' |
Development Stage Company | |
The company has limited operations and is considered to be in the development stage. In the period ended May 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the company to remove the inception to date information and all references to development stage | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
Lucky does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
GOING_CONCERN_Details_Narrativ
GOING CONCERN (Details Narrative) (USD $) | 31-May-14 | Feb. 28, 2014 |
Notes to Financial Statements | ' | ' |
Accumulated Deficit | $318,643 | $262,182 |
LOANS_PAYABLE_RELATED_PARTY_De
LOANS PAYABLE - RELATED PARTY (Details Narrative) (USD $) | 3 Months Ended | |
31-May-14 | Feb. 28, 2014 | |
Payables and Accruals [Abstract] | ' | ' |
Officer and shareholder loan | $36,448 | ' |
Total Loan | $228,299 | $191,851 |