Luckwel Pharmaceuticals (LWEL) 10-Q 14 Jan 15 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 30, 2014	Jan. 14, 2015
Document And Entity Information
Entity Registrant Name	LUCKYCOM INC
Entity Central Index Key	1567098
Document Type	10-Q
Document Period End Date	30-Nov-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-26
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	Q3
Document Fiscal Year Focus	2014

CONSOLIDATED_BALANCE_SHEETS_UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $)	Nov. 30, 2014	Feb. 28, 2014
Current assets
Cash and cash equivalents	$93,076	$94,320
Other asset
Drug license, net of $38,958 and $18,333 amortization	16,042	36,667
TOTAL ASSETS	109,118	130,987
Current Liabilities
Accounts payable and accrued expenses	2,313	10,308
Due to officer	378,210	191,851
Total Liabilities	380,523	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	-462,415	-262,182
Total Stockholders' Deficit	-271,405	-71,172
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$109,118	$130,987

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Nov. 30, 2014	Feb. 28, 2014
Statement of Financial Position [Abstract]
Drug license amortization	$38,958	$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		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Income Statement [Abstract]
TOTAL OPERATING EXPENSES	$81,268	$41,830	$200,233	$144,558
NET LOSS	($81,268)	($41,830)	($200,233)	($144,558)
NET LOSS PER SHARE: BASIC AND DILUTED	($0.01)	$0	($0.02)	($0.01)
WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC AND DILUTED	10,500,000	10,500,000	10,500,000	10,272,727

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	($200,233)	($144,558)
Amortization of drug license	20,625
Changes in assets and liabilities:
Increase (decrease) in accounts payable
Increase (decrease) in accrued expenses	-7,995	366
Net Cash Used in Operating Activities	-187,603	-144,192
CASH FLOWS FROM FINANCING ACTIVITIES
Cash received from collection of stock subscriptions		135,999
Proceeds from officer loans	186,359	66,145
Repayments of officer loans		-27,169
Net Cash Provided by Financing Activities	186,359	174,975
Exchange rate effect on cash
Net Increase (Decrease) in Cash and Cash Equivalents	-1,244	30,783
Cash and cash equivalents, beginning of period	94,320
Cash and cash equivalents, end of period	93,076	-1,244
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid
Income taxes paid
Drug license acquire for common shares		$55,000

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Nov. 30, 2014
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 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 February 28, 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 November 30, 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.

GOING_CONCERN

GOING CONCERN	9 Months Ended
	Nov. 30, 2014
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 $462,415 as of November 30, 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	9 Months Ended
	Nov. 30, 2014
Payables and Accruals [Abstract]
LOANS PAYABLE - RELATED PARTY	NOTE 3 – LOANS PAYABLE – RELATED PARTY
	An officer and shareholder loaned a net of $186,359 to the Company during the nine months ended November 30, 2014 and is owed a total of $378,210 as of that date.  The amounts are unsecured, non-interest bearing and due on demand.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Nov. 30, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 4 - SUBSEQUENT EVENTS
	In accordance with ASC 855, management evaluated all activity of the Company through the issue date of the financial statements and concluded that no subsequent events have occurred that would require recognition or disclosure in the financial statements.

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Nov. 30, 2014
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 November 30, 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

GOING_CONCERN_Details_Narrativ

GOING CONCERN (Details Narrative) (USD $)	Nov. 30, 2014	Feb. 28, 2014
Notes to Financial Statements
Accumulated Deficit	$462,415	$262,182

LOANS_PAYABLE_RELATED_PARTY_De

LOANS PAYABLE - RELATED PARTY (Details Narrative) (USD $)	9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Feb. 28, 2014
Payables and Accruals [Abstract]
Officer and shareholder loan	$186,359	$66,145
Total Loan	$378,210		$191,851