Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Nov. 30, 2015 | May. 31, 2015 | |
Document and Entity Information: | ||
Entity Registrant Name | Pack Fuerte, Inc. | |
Document Type | 10-K | |
Document Period End Date | Nov. 30, 2015 | |
Trading Symbol | pf | |
Amendment Flag | false | |
Entity Central Index Key | 1,567,388 | |
Current Fiscal Year End Date | --11-30 | |
Entity Common Stock, Shares Outstanding | 100,875,000 | |
Entity Public Float | $ 100,875 | |
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 | 2,015 | |
Document Fiscal Period Focus | FY |
Condensed Balance Sheets - Audi
Condensed Balance Sheets - Audited - USD ($) | Nov. 30, 2015 | Nov. 30, 2014 |
Current Assets | ||
Cash | $ 516 | $ 16 |
Total Current Assets | 516 | 16 |
Total Assets | 516 | 16 |
Current Liabilities | ||
Accounts Payable and Accrued Liabilities | 18,966 | 3,800 |
Accounts payable - related party | 18,112 | 7,312 |
Total Current Liabilities | 37,078 | 11,112 |
Total Liabilities | 37,078 | 11,112 |
Stockholders' Equity (Deficit) | ||
Common Stock, Value, Issued | 100,875 | 100,875 |
Additional Paid in Capital | (84,035) | (84,035) |
Retained Deficit | (53,402) | (27,936) |
Total Stockholders' Equity | (36,562) | (11,096) |
Total Liabilities and Stockholder's Equity (Deficit) | $ 516 | $ 16 |
Statement of Financial Position
Statement of Financial Position - Parenthetical - $ / shares | Nov. 30, 2015 | Nov. 30, 2014 |
Balance Sheets | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares Issued | 100,875,000 | 100,875,000 |
Common Stock, Shares Outstanding | 100,875,000 | 100,875,000 |
Condensed Statement of Operatio
Condensed Statement of Operations - Audited - USD ($) | 12 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Revenue | ||
Revenues | ||
Total Revenues | ||
Operating Expenses | ||
Office and General | $ 16,553 | $ 3,023 |
Professional Fees | 8,913 | 8,000 |
Total Expenses, before provision of income taxes | $ 25,466 | $ 11,023 |
Provision for income taxes | ||
Net Loss | $ (25,466) | $ (11,023) |
Basic and Diluted Loss per Common Share | ||
Weighted Average Number of Common Shares Outstanding | 100,875,000 | 810,411,986 |
Statement of Shareholders' Equi
Statement of Shareholders' Equity - Audited - USD ($) | Common Stock | Additional Paid in Capital | Deficit Accumulated | Total |
Balance, Value at Nov. 30, 2013 | $ 1,725,000 | $ (1,713,500) | $ (16,913) | $ (5,413) |
Balance, Shares at Nov. 30, 2013 | 1,725,000,000 | |||
Common stock issued at $0.000133, Value | $ 40,125 | $ (34,775) | $ 5,350 | |
Common stock issued at $0.000133, Shares | 40,125,000 | |||
Common stock redemption on May 06, 2014, Value | $ (1,664,250) | 1,664,240 | (10) | |
Net Loss | $ (11,023) | (11,023) | ||
Balance, Value at Nov. 30, 2014 | $ 100,875 | $ (84,035) | $ (27,936) | $ (11,096) |
Balance, Shares at Nov. 30, 2014 | 100,875,000 | |||
Net Loss | $ (25,466) | $ (25,466) | ||
Balance, Value at Nov. 30, 2015 | $ 100,875 | $ (84,035) | $ (53,402) | $ (36,562) |
Balance, Shares at Nov. 30, 2015 | 100,875,000 |
Statement of Cash Flows - Audit
Statement of Cash Flows - Audited - USD ($) | 12 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Operating Activities | ||
Net Loss | $ (25,466) | $ (11,023) |
Adjustments to Reconcile Net Loss to net cash used in Operating Activities: | ||
Expenses paid on company's behalf by related party | 10,800 | 5,835 |
Increase (Decrease) in Accrued Expenses | 15,166 | (1,575) |
Net Cash Provided by (Used in) Operating Activities | 500 | (6,763) |
Financing Activities | ||
Proceeds from Sale of Common Stock | 0 | 5,340 |
Net Cash Provided by Financing Activities | 0 | 5,340 |
Net Increase (Decrease) in Cash | 500 | (1,423) |
Cash beginning of period | 16 | 1,439 |
Cash end of period | $ 516 | $ 16 |
Supplemental cash flow information and noncash financing activities: | ||
Interest | ||
Income taxes |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Basis of Presentation | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Note 1 - Nature of Operations and Basis of Presentation | NOTE 1 NATURE OF OPERATIONS AND BASIS OF PRESENTATION The Company was incorporated in the State of Nevada as a for-profit Company on September 5, 2012 and established a fiscal year end of November 30. The Company intends to develop a built in safe with a combination lock that can store personal and or valuable items, inside of backpacks, carry-on luggage and suitcases. The Company presently has no products. All activities of the Company relate to its organization, initial funding and share issuances. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars. Advertising Advertising costs are expensed as incurred. As of November 30, 2015 and 2014, no advertising costs have been incurred. Property The Company does not own or rent any property. The office space is provided by the president at no charge. Revenue and Cost Recognition The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. Recent Accounting Pronouncements The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the companys financial statement. |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Note 3 - Going Concern | NOTE 3 GOING CONCERN The Companys financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $36,562 , an accumulated deficit of $53,402 and net loss from operations since inception of $53,402 . The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founders shares. The officers and directors have committed to advancing certain operating costs of the Company, including Legal, Audit, Transfer Agency and Edgarizing costs. |
Note 4 - Fair Value of Financia
Note 4 - Fair Value of Financial Instruments | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Note 4 - Fair Value of Financial Instruments | NOTE 4 - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company has determined the estimated fair value of financial instruments using available market information and appropriate valuation methodologies. The fair value of financial instruments classified as current assets or liabilities approximate their carrying value due to the short-term maturity of the instruments. |
Note 5 - Capital Stock
Note 5 - Capital Stock | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Note 5 - Capital Stock | NOTE 5 - CAPITAL STOCK The Companys capitalization is 200,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. As of November 30, 2015, the Company has not granted any stock options and has not recorded any stock-based compensation. On September 24, 2012, the Company has issued 1,725,000,000 Founders shares for cash at $0.000007 per share. As of November 30, 2014, the Company has not granted any stock options and has not recorded any stock-based compensation. On August 18, 2014 the Company approved a 150:1 forward split of the common stock. All shares have been retrospectively restated. On November 30, 2015 and 2014, the Company had 100,875,000 common shares issued and outstanding. |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Note 6 - Related Party Transactions | NOTE 6 - RELATED PARTY TRANSACTIONS As of November 30, 2015 and 2014, the Company has received $18,112 and $7,312 respectively in loans and payment of expenses from a related party. The loans are payable on demand and without interest. |
Note 7 - Schedule of Components
Note 7 - Schedule of Components of Income Tax Expense (Benefit) | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Schedule of Components of Income Tax Expense (Benefit) | NOTE 7 INCOME TAXES We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Accounting for Uncertainty in Income Taxes when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. The components of the Companys deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of November 30, 2015 and 2014 are as follows: November 30, 2015 November 30, 2014 Net Operating loss carry forward 53,402 27,936 Effective Tax rate 35% 35% Deferred Tax Assets 18,691 9,778 Less: Valuation Allowance (18,691) (9,778) Net deferred tax asset $ 0 $ 0 The net federal operating loss carry forward will expire between 2032 and 2033. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Note 8 - Subsequent Events | NOTE 8 - SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no events to disclose. |
Note 2 - Summary of Significa15
Note 2 - Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Basis of Presentation | Basis of Presentation In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars. |
Note 2 - Summary of Significa16
Note 2 - Summary of Significant Accounting Policies: Advertising (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Advertising | Advertising Advertising costs are expensed as incurred. As of November 30, 2015 and 2014, no advertising costs have been incurred. |
Note 2 - Summary of Significa17
Note 2 - Summary of Significant Accounting Policies: Property (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Property | Property The Company does not own or rent any property. The office space is provided by the president at no charge. |
Note 2 - Summary of Significa18
Note 2 - Summary of Significant Accounting Policies: Revenue and Cost Recognition (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Revenue and Cost Recognition | Revenue and Cost Recognition The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. |
Note 2 - Summary of Significa19
Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. |
Note 2 - Summary of Significa20
Note 2 - Summary of Significant Accounting Policies: Use of Estimates and Assumptions (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Use of Estimates and Assumptions | Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Note 2 - Summary of Significa21
Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Income Taxes | Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. |
Note 2 - Summary of Significa22
Note 2 - Summary of Significant Accounting Policies: Net Loss Per Share (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Net Loss Per Share | Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. |
Note 2 - Summary of Significa23
Note 2 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the companys financial statement. |
Note 7 - Schedule of Componen24
Note 7 - Schedule of Components of Income Tax Expense (Benefit): Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | November 30, 2015 November 30, 2014 Net operating loss carry forward 53,402 27,936 Effective Tax rate 35% 35% Deferred Tax Assets 18,691 9,788 Less: Valuation Allowance (18,691) (9,778) Net deferred tax asset $ 0 $ 0 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details) | Nov. 30, 2015USD ($) |
Details | |
Capital | $ 36,562 |
Cumulative Earnings (Deficit) | 53,402 |
And net loss from operations since inception | $ 53,402 |
Note 5 - Capital Stock (Details
Note 5 - Capital Stock (Details) - $ / shares | Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2013 | Sep. 24, 2012 |
Details | ||||
Common shares | 200,000,000 | |||
Common Stock, No Par Value | $ 0.001 | |||
Balance, Shares | 1,725,000,000 | |||
Shares Issued, Price Per Share | $ 0.000007 | |||
Common shares issued and outstanding | 100,875,000 | 100,875,000 |
Note 6 - Related Party Transa27
Note 6 - Related Party Transactions (Details) - USD ($) | Nov. 30, 2015 | Nov. 30, 2014 |
Details | ||
Accounts Payable, Related Parties, Current | $ 18,112 | $ 7,312 |
Note 7 - Schedule of Componen28
Note 7 - Schedule of Components of Income Tax Expense (Benefit): Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Nov. 30, 2015 | Nov. 30, 2014 |
Details | ||
Net operating loss carry forward | $ 53,402 | $ 27,936 |
Effective Tax rate | 35.00% | 35.00% |
Deferred Tax Assets | $ 18,691 | $ 9,778 |
Valuation Allowance | (18,691) | (9,778) |
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | $ 0 |