UNEEQO (UNEQ) 10-Q 20 May 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 31, 2015	20-May-15
Document And Entity Information
Entity Registrant Name	Kore Resources Inc.
Entity Central Index Key	1572317
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-24
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		127,500,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2015

BALANCE_SHEETS_UNAUDITED

BALANCE SHEETS (UNAUDITED) (USD $)	Mar. 31, 2015	Jun. 30, 2014
CURRENT ASSETS
Cash	$2,142	$19,784
Prepaid expenses		2,192
TOTAL CURRENT ASSETS	2,142	21,976
OTHER ASSETS
Deposits		3,900
Property, Plant and Equipment, Net of accumalated depreciation of $938 and $0, respectively	5,314	4,426
Intangible Assets, Net of accumulated depreciation of $2,130 and $0, respectively	12,078	14,208
TOTAL OTHER ASSETS	17,392	22,534
TOTAL ASSETS	19,534	44,510
CURRENT LIABILITIES
Accounts payable	29,016	1,000
Accrued expenses	24,280
Due to related party	3,486	58,483
Note payable	15,000
TOTAL CURRENT LIABILITIES	71,782	59,483
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT
Common stock, $0.00001 par value, 150,000,000 shares authorized, 127,750,000 shares issued and outstanding	12,775	100
Additional paid in capital	262,325
Subscription receivable	-70,000
Accumulated deficit	-257,348	-15,073
TOTAL STOCKHOLDERS' DEFICIT	-52,248	-14,973
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$19,534	$44,510

BALANCE_SHEETS_UNAUDITED_Paren

BALANCE SHEETS (UNAUDITED) (Parenthetical) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Statement of Financial Position [Abstract]
Accumalated depreciation of property, plant and equipment	$938	$0
Accumalated depreciation of intangible assets	$2,130	$0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	127,750,000	127,750,000
Common stock, shares outstanding	127,750,000	127,750,000

STATEMENT_OF_OPERATIONS_UNAUDI

STATEMENT OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2015
OPERATING EXPENSES
Consulting	$10,500	$114,749
General and administrative	33,366	136,526
Total Operating Expenses	43,866	251,275
NET LOSS FROM OPERATIONS	-43,866	-251,275
Other income:
Other income		9,000
NET LOSS BEFORE PROVISION FOR TAX	-43,866	-242,275
Provision for Income Taxes
NET LOSS	($43,866)	($242,275)
Net loss per share - basic and diluted	$0	$0
Weighted average number of shares outstanding during the period - basic and diluted	127,750,000	127,750,000

STATEMENT_OF_CASH_FLOWS_UNAUDI

STATEMENT OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($242,275)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation
Depreciation expense	3,068
Changes in operating assets and liabilities:
Prepaid expenses	2,192
Deposits	3,900
Accounts payable	28,018
Accrued expenses	24,280
Due to related party	-54,997
Net Cash Used In Operating Activities	-235,814
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for purchase of fixed assets	-1,828
Net Cash Used In Investing Activities	-1,828
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from note payable	15,000
Proceeds from sale of common stock	205,000
Net Cash Provided By Financing Activities	220,000
NET(DECREASE) IN CASH	-17,642
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	19,784
CASH AND CASH EQUIVALENTS AT END OF PERIOD	2,142
Supplemental disclosure of non cash investing & financing activities:
Cash paid for income taxes
Cash paid for interest expense
Non Cash Transactions:
Common stock issued in reverse merger	12,500
Shares issued for stock subscription receivable	$150,000

NOTE_1_ORGANIZATION_AND_BASIS_

NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION
	Kore Resources, Inc. (the "Company") was incorporated in the State of Nevada on January 6, 2012. The Company was organized to develop and explore mineral properties in the State of Nevada.
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all of the information necessary for a comprehensive presentation of financial position and results of operations. The interim results for the period ended March 31, 2015 are not necessarily indicative of results for the full fiscal year. It is management's opinion, however that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation.
	On June 30, 2014, the “Company” we entered into a Share Exchange Agreement (the “Exchange Agreement”) with WeedWeb Inc, a privately held Nevada corporation (“WeedWeb”) and Weedweb’s controlling stockholder Mary Kay Tantum (“Tantum”).  As a result of the transaction (the “Exchange”) we acquired 10,000,000 shares of common stock of WeedWeb and it became our wholly-owned subsidiary. In accordance with the terms of the Exchange Agreement, at the closing an aggregate of 15,000,000 shares of our common stock were issued to Tantum in exchange for her shares of WeedWeb. Each of us, WeedWeb and Tantum  provided customary representations and warranties, pre-closing covenants and closing conditions in the Exchange Agreement.  In connection with these transactions, Ms. Tantum  and Level Up Investments LLC entered into an agreement with Young Ju Yi, our former CEO and Director, to purchase 60,000,000 shares of our common stock from Young Ju Yi for a total purchase price of $30,000. Ms. Tantum and Level Up Investments LLC each acquired 30,000,000 shares of our common stock pursuant to this agreement.  This resulted in a change in control of the  Corporation.  Level Up Investments, LLC was not a shareholder of Weedweb, Inc. prior to its acquisition by the Corporation.  In addition to being a shareholder of the Company, Level Up Investments LLC was instrumental in finding funding for the early development stage of the Weedweb website.
	In accordance with ASC Topic 360-10-45-15, the transaction is accounted for as a reverse acquisition and WeedWeb, Inc. is considered the accounting acquirer and the acquiree is Kore Resources, Inc. since the members of WeedWeb, Inc. obtained voting and management control of Kore Resources, Inc. the transaction has been accounted as a reverse merger and recapitalization.
	Immediately subsequent to the Exchange, we entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Conveyance Agreement”) with our former officer and director, Mr. Young Ju Yi. Pursuant to the Conveyance Agreement, we transferred all assets and business operations associated with our mining business to Mr. Young Ju Yi. As a result of this Agreement, we are no longer pursuing our former business plan.
	In connection with these transactions, Ms. Tantum and Level Up Investments LLC entered into an agreement with Young Ju Yi to purchase 60,000,000 shares of our common stock from Young Ju Yi for a total purchase price of $30,000.  Ms. Tantum and Level Up Investments LLC each acquired 30,000,000 shares of our common stock pursuant to this agreement.
	Effective April 29, 2015, the Company entered into a Confidential Settlement and Mutual Release Agreement (the “Settlement Agreement”) with WeedWeb Inc, a privately held Delaware corporation (“WeedWeb ”) and Weedweb’s controlling stockholder Mary Kay Tantum (“Tantum”). Pursuant to this agreement, we are to unwind the share exchange transactions which were made in connection with a share exchange agreement dated June 30, 2014, among the same parties. The decision to unwind and rescind the transaction was in large part as a result of lack or performance and lack of consideration required pursuant to the terms of the share exchange agreement. As a result, the parties mutually concluded that rescinding the transaction was warranted in the circumstances.
	Kore Resources, Inc. and its wholly owned subsidiaries are herein referred to as the “Company”.
	Use of Estimates in Financial Statements
	The presentation 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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates during the period covered by these financial statements include the valuation of website costs, valuation of deferred tax asset, stock based compensation and any beneficial conversion features on convertible debt.

NOTE_2_RECENT_ACCOUNTING_PRONO

NOTE 2 - RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS
	Recent accounting pronouncements issued by FASB (including the Emerging Issues Task Force), the AICPA and the SEC, did not or are not believed by the Company management, to have a material impact on the Company’s present or future financial statements.
	In June 2014, the FASB issued ASU 2014-10, "Development Stage Entities". The amendments in this update remove the definition of a development stage entity from the Master Glossary of the ASC thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments in this update are applied retrospectively. The Company elected early adoption of ASU 2014-10. The adoption of ASU 2014-10 removed the development stage entity financial reporting requirements from the Company. The company elected early adoption of ASU 2014-10.
	No other accounting pronouncements issued by FASB (including the Emerging Issues Task Force), the AICPA and the SEC, did not or are not believed by the Company management, to have a material impact on the Company’s present or future financial statements

NOTE_3_GOING_CONCERN

NOTE 3 - GOING CONCERN	9 Months Ended
	Mar. 31, 2015
Note 3 - Going Concern
GOING CONCERN	NOTE 3 - GOING CONCERN
	The Company has sustained operating losses since inception, and as of March 31, 2015 the Company has an accumulated deficit of $257,348.  These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required.
	The accompanying condensed financial statements have been prepared assuming that the Company will continue as a going concern. The condensed financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.
	Management is working to begin principal revenue generating operations; however, it may not be able to do so within the next fiscal year.  Management is also seeking to raise additional working capital through various financing sources, including the sale of the Company’s equity securities, which may not be available on commercially reasonable terms, if at all. If such financing is not available on satisfactory terms, we may be unable to continue our exploration stage business as desired and operating results will be adversely affected. In addition, any financing arrangement may have potentially adverse effects on us or our stockholders.
	Debt financing (if available and undertaken) will increase expenses, must be repaid regardless of operating results and may involve restrictions limiting our operating flexibility. If we issue equity securities to raise additional funds, the percentage ownership of our existing stockholders will be reduced and the new equity securities may have rights, preferences or privileges senior to those of the holders of our common stock.

NOTE_4_COMMON_STOCK

NOTE 4 - COMMON STOCK	9 Months Ended
	Mar. 31, 2015
Equity [Abstract]
STOCKHOLDERS' DEFICIT	NOTE 4 - STOCKHOLDERS’ DEFICIT
	On September 1, 2014, we entered into a Funding Agreement with Craigstone Ltd., pursuant to which Craigstone agreed to purchase 2,500,000 shares of our common stock for ten cents ($0.10) per share and a warrant to acquire Five Hundred Thousand (500,000) shares of common stock of the Company at an exercise price of Twenty Cents ($0.20) per share. The Company initially received $100,000 in cash from Craigstone and recorded a stock subscription receivable of $150,000; of that amount $50,000 has been received. As of March 31, 2015, the Company has received a total of $180,000 of the purchase price. The remaining $70,000 is recorded as a stock subscription receivable. The Company anticipates collection of the remaining balance before June 30, 2015.
	On September 5, 2014 we entered into a Funding Agreement with Maverick LLC., pursuant to which Maverick  agreed to purchase 250,000 shares of our common stock for ten cents ($0.10) per share, for a total purchase price of $25,000.
	Both Craigstone and Maverick funding agreements remain unchanged as result of the unwind of the merger.

NOTE_5_RELATED_PARTIES

NOTE 5 - RELATED PARTIES	9 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTIES	NOTE 5 – RELATED PARTIES
	Between April 22, 2014 (Inception) to December 31, 2015, a related party paid operating expense for the Company as of  March  31, 2015 the related party is owed a total amount of $3,486.  A separate related party also paid for the intangible and fixed assets for the Company in the amount of $18,634.

NOTE_6_NOTE_PAYABLE

NOTE 6 - NOTE PAYABLE	9 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
NOTE PAYABLE	NOTE 6 – NOTE PAYABLE
	On November 14, 2014 the Company entered into a promissory note in the amount of $15,000. The note is due on May 14, 2015 and is non interesting bearing.  If the note is not repaid by May 14, 2015 it shall bear interest at a rate of 15% per annum. The unwind of the merger has no effect on this note.

NOTE_7_SUBSEQUENT_EVENTS

NOTE 7 - SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS
	Effective April 29, 2015, the Company entered into a Confidential Settlement and Mutual Release Agreement (the “Settlement Agreement”) with WeedWeb Inc, a privately held Delaware corporation (“WeedWeb ”) and Weedweb’s controlling stockholder Mary Kay Tantum (“Tantum”).  Pursuant to this agreement, we are to unwind the share exchange transactions which were made in connection with a share exchange agreement dated June 30, 2014, among the same parties.  The decision to unwind and rescind the transaction was in large part as a result of lack or performance and lack of consideration required pursuant to the terms of the share exchange agreement.  As a result, the parties mutually concluded that rescinding the transaction was warranted in the circumstances.
	As a result of unwinding the transactions, WeedWeb will no longer be our subsidiary as we have agreed to return an aggregate of 10,000,000 common shares of WeedWed to the former shareholders of WeedWeb.  Further, the former shareholders of WeedWeb will return to us 30,000,000 shares of our common stock and WeedWeb will retain all assets necessary to effectuate its business and operations as currently conducted.  The Settlement Agreement contains a general release and covenant not to sue pursuant to which we, WeedWeb, and the WeedWeb shareholders released, and agreed not to sue with respect to, any and all rights they have against each other. The Settlement Agreement also contains customary representations, warranties and covenants, including covenants regarding confidentiality and non-disparagement.
	Subsequent to March 31, 2015 The Company received an additional $10,800 from Craigstone pursuant to its subscription receivable.

NOTE_1_ORGANIZATION_AND_BASIS_1

NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative) (USD $)	1 Months Ended
	Jun. 30, 2014
Shares of common stock acquired	10,000,000
Tantum [Member]
Shares of common stock acquired	30,000,000
Shares of common stock issued	15,000,000
Tantum and Level Up Investments LLC [Member]
Shares of common stock issued	60,000,000
Shares of common stock issued, value	30,000
Level Up Investments LLC [Member]
Shares of common stock acquired	30,000,000

NOTE_3_GOING_CONCERN_Details_N

NOTE 3 - GOING CONCERN (Details Narrative) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Note 3 - Going Concern
Accumulated deficit	$257,348	$15,073

NOTE_4_COMMON_STOCK_Details_Na

NOTE 4 - COMMON STOCK (Details Narrative) (USD $)	1 Months Ended
	Sep. 30, 2014	Mar. 31, 2015	Sep. 01, 2014	Sep. 05, 2014
Craigstone Ltd [Member]
Sale of common stock	2,500,000
Price per share			($0.10)
Initial cash received for sale of common shares			$100,000
Total cash received			180,000
Stock subscription receivable		10,800	70,000
Craigstone Ltd [Member] | Warrant [Member]
Sale of common stock	-500,000
Price per share			($0.20)
Maverick LLC [Member]
Sale of common stock	250,000
Price per share				($0.10)
Sale of common stock, value	$25,000

NOTE_5_RELATED_PARTIES_Details

NOTE 5 - RELATED PARTIES (Details Narrative) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Related Party Transactions [Abstract]
Due to related party	$3,486	$58,483
Separate related party paid for intangible and fixed assets of company	$18,634

NOTE_6_NOTE_PAYABLE_Details_Na

NOTE 6 - NOTE PAYABLE (Details Narrative) (USD $)	1 Months Ended
	Nov. 30, 2014	Nov. 14, 2014
Debt Disclosure [Abstract]
Promissory note, face amount		$15,000
Due date of promissory note	14-May-15
Interest rate after due date		15.00%

NOTE_7_SUBSEQUENT_EVENTS_Detai

NOTE 7 - SUBSEQUENT EVENTS (Details Narrative) (USD $)	Mar. 31, 2015	Sep. 01, 2014	Apr. 29, 2015
Craigstone Ltd [Member]
Stock subscription receivable	$10,800	$70,000
Subsequent Event [Member]
Return of common shares to former shareholders			10,000,000
Return of common shares from former shareholders			30,000,000