Maiden Lane Jewelry (MDNL) 10-Q 11 Apr 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Feb. 28, 2014	Apr. 04, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Romantique Ltd.	'
Entity Central Index Key	'0001574097	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--05-31	'
Document Type	'10-Q	'
Document Period End Date	28-Feb-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	10,441,250

Condensed_Balance_Sheet

Condensed Balance Sheet (USD $)	Feb. 28, 2014	31-May-13
Current Assets:	'	'
Cash and Cash Equivalents	$3,622	$39,086
Accounts Receivable, Net	1,783,850	752,923
Inventories	1,313,369	1,789,394
Prepaid Expenses	200,763	32,031
Deferred Taxes	13,500	13,500
Total Current Assets	3,315,104	2,626,934
Property and Equipment, Net	9,712	10,967
Security Deposits	2,000	2,000
Total Assets	3,326,816	2,639,901
Current Liabilities:	'	'
Accounts Payable	1,480,758	1,679,891
Accrued Expenses	15,470	75,526
Loans Payable - Factor	745,961	'
Loans Payable - Related Parties	209,632	'
Income Tax (Benefit) Payable	'	36,600
Total Current Liabilities	2,451,821	1,792,017
Long-Term Debt:	'	'
Convertible Note Payable - Related Party	74,000	74,000
Total Liabilities	2,525,821	1,866,017
Commitments and Contingencies	'	'
Stockholders' Equity:	'	'
Preferred Stock, $.0001 par value; 10,000,000 shares authorized, none issued and outstanding atFebruary 28, 2014 and May 31, 2013	'	'
Common Stock, $.0001 par value; 50,000,000 shares authorized, 10,441,250 and 10,353,750 shares issued and outstanding at February 28, 2014 and May 31, 2013, respectively	1,044	1,035
Additional Paid-In Capital	845,558	685,567
Retained Earnings (Deficit)	-45,607	87,282
Total Stockholders' Equity	800,995	773,884
Total Liabilities and Stockholders' Equity	$3,326,816	$2,639,901

Condensed_Balance_Sheet_Parent

Condensed Balance Sheet (Parenthetical) (USD $)	Feb. 28, 2014	31-May-13
Balance Sheet [Abstract]	'	'
Preferred Stock, par value	$0.00	$0.00
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	50,000,000	50,000,000
Common Stock, shares issued	10,441,250	10,353,750
Common Stock, shares outstanding	10,441,250	10,353,750

Condensed_Statement_of_Operati

Condensed Statement of Operation (USD $)	3 Months Ended		6 Months Ended	9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2013	Feb. 28, 2014
Income Statement [Abstract]	'	'	'	'
Sales - Net	$789,030	$149,250	$1,609,734	$4,605,345
Costs and Expenses:	'	'	'	'
Cost of Sales	905,977	131,803	1,323,308	3,723,140
Officers' Compensation	20,833	4,634	48,884	99,389
Professional and Consulting Fees	81,708	20,850	35,575	432,875
Selling, General and Administrative Expenses	52,625	28,450	42,956	428,882
Provision for Bad Debts	'	1,547	16,147	1,824
Total Costs and Expenses	1,061,143	187,284	1,466,870	4,686,110
Income (Loss) from Operations	-272,113	-38,034	142,864	-80,765
Other Income (Expense):	'	'	'	'
Interest Expense - Related Party	-714	-740	-1,340	-2,194
Interest Expense - Accounts Receivable Financings	-31,434	'	'	-44,904
Total Costs and (Expenses)	-32,148	-740	-1,340	-47,098
Income (Loss) before Income Tax Provision	-304,261	-38,774	141,524	-127,863
Income Tax Provision	-57,874	-20,000	41,000	5,026
Net Income (Loss)	($246,387)	($18,774)	$100,524	($132,889)
Income (Loss) Per Common Share - Basic	($0.02)	$0	$0.01	($0.01)
Basic Weighted Average Shares	10,441,250	10,000,000	10,000,000	10,387,404
Income (Loss) Per Common Share - Diluted	($0.02)	$0	$0.01	($0.01)
Diluted Weighted Average Shares	10,441,250	10,000,000	10,031,062	10,387,404

Condensed_Statement_of_Stockho

Condensed Statement of Stockholders' Equity (Unaudited) (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Beginning balance at May. 31, 2013	$773,884	$1,035	$685,567	$87,282
Beginning balance, Shares at May. 31, 2013	'	10,353,750	'	'
Issuance of Common Stock for services	175,000	9	174,991	'
Issuance of Common Stock for services, Shares	'	87,500	'	'
Offering Costs	-15,000	'	-15,000	'
Net Loss for the Nine Months Ended February 28, 2014	-132,889	'	'	-132,889
Ending balance at Feb. 28, 2014	$800,995	$1,044	$845,558	($45,607)
Ending balance, Shares at Feb. 28, 2014	'	10,441,250	'	'

Condensed_Statement_of_Cash_Fl

Condensed Statement of Cash Flows (USD $)	6 Months Ended	9 Months Ended
	Feb. 28, 2013	Feb. 28, 2014
Cash Flows from Operating Activities:	'	'
Net Income	$100,524	($132,889)
Adjustments to Reconcile Net Income to Net Cash (Used) in Operating Activities:	'	'
Depreciation	320	2,405
Common Stock Issued for Services	'	175,000
Deferred Taxes	-7,000	'
Reserve for Doubtful Accounts and Sales Returns and Allowances	35,513	1,824
Changes in Assets and Liabilities:	'	'
Increase in Accounts Receivable	-1,007,107	-1,032,751
Decrease (Increase) in Inventories	-452,032	476,026
Decrease (Increase) in Prepaid Expenses	-27,674	-168,733
Increase (Decrease) in Accounts Payable	1,221,883	-199,133
Increase (Decrease) in Accrued Expenses	56,346	-60,056
Increase (Decrease) in Income Taxes Payable	48,000	-36,600
Net Cash (Used) in Operating Activities	-31,227	-974,907
Cash Flows from Investing Activities:	'	'
Capital Expenditures	-4,808	-1,150
Net Cash (Used) In Investing Activities	-4,808	-1,150
Cash Flows from Financing Activities:	'	'
Proceeds from Sale of Common Stock	1,000	'
Proceeds of Convertible Note - Related Party	74,000	'
Proceeds of Loans Payable - Related Parties	'	354,632
Payments of Loans Payable - Related Parties	0	-145,000
Payments of Offering Costs	-16,200	-15,000
Draws from Loans Payable - Factor	'	2,907,500
Repayments to Loans Payable - Factor	0	-2,161,539
Net Cash (Used) In Financing Activities	58,800	940,593
Increase (Decrease) in Cash and Cash Equivalents	22,765	-35,464
Cash and Cash Equivalents - Beginning of Period	'	39,086
Cash and Cash Equivalents - End of Period	22,765	3,622
Supplemental Disclosure of Cash Flow Information:	'	'
Interest Paid	'	40,808
Income Taxes Paid	'	$27,194

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Feb. 28, 2014
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	NOTE 1 - Summary of Significant Accounting Policies
	Organization and Basis of Presentation
	Romantique Ltd. (“the Company”) was incorporated on September 6, 2012 under the laws of the State of New York.  The Company is a wholesaler and manufacturer of jewelry including pendants, bracelets and earrings.  We began operations on October 1, 2012 by selling fashion rings, pendants, earrings and bracelets to independent retailers. In December 2012, we commenced a line of bridal (engagement) rings, featuring both settings and diamonds.
	In February 2014 the Company began focusing on bridal jewelry featuring uniquely cut stones (“Unique Cushion Brilliant Cut stones”). These stones utilize an advanced cutting technique that can visually and physically increase the crown size (the top and most visible part of the stone) of similarly weighted stones by 150% to 200%. Because this unique cutting technique significantly increases the crown size of the stone while decreasing the pavilion (bottom end below the crown) of the stone which is usually not seen, these diamonds appear to be much larger than typically cut diamonds of the same weight. In addition, because our company creates each ring based on a specific stone, as each stone’s measurements and appearance is unique, the Company will design rings which accentuate a diamond’s brilliance and other positive attributes.
	The Company has selected May 31 as its fiscal year. In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the information set forth therein.  These financial statements are condensed and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.  These condensed financial statements should be read in conjunction with the Company’s May 31, 2013 audited financial statements and notes included in the registration statement on Form S-1, Amendment No. 3 filed on September 3, 2013.
	Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.
	Cash and Cash Equivalents
	The Company considers all highly-liquid investments purchased with a maturity of three months or less to be cash equivalents.  As of February, 2014 and 2013, the Company did not have any cash equivalents.
	Inventories
	Raw materials are stated at the lower of cost or market, with cost determined by specific identification for unique items (such as diamond stones, each with a particular carat weight, color, clarity and cut) and using the first-in, first-out method for generic items or styles (certain semi-mounts and fashion jewelry).  Finished goods which we fabricate are stated at the lower of cost or market, with cost determined by specific identification for each component making up the item plus direct labor and other direct fees (primarily diamond certification).
	Property and Equipment
	Property and equipment is carried at cost less accumulated depreciation.  Depreciation is computed by the straight-line method over the estimated useful lives of the related assets, which is five years.
	Revenue Recognition
	For revenue from product sales, the Company recognizes revenue in accordance with Staff Accounting Bulletin No. 104, “Revenue Recognition” (SAB No. 104), which superseded Staff Accounting Bulletin No. 101, “Revenue Recognition in Financial Statements” (SAB No. 101).  SAB No. 104 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured.  Determination of criteria (3) and (4) are based on management’s judgment regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts.  Provisions for discounts and rebates to customers, estimated returns and allowance, and other adjustments are provided for in the same period the related sales are recorded.  Provisions for sales returns and allowances that were netted against sales amounted to $72,045 for the nine months ended February 28, 2014 and $14,000 for the period September 6, 2012 (inception) to February 28, 2013.
	Advertising Costs
	Advertising costs are charged to operations when incurred.  Advertising costs during the nine months ended February 28, 2014 was $12,405.  Advertising costs incurred during the period September 6, 2012 (inception) through February 28, 2013 was $485.
	Deferred Income Taxes
	The Company accounts for deferred income taxes using the asset and liability method, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax bases of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled.  A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	Net Income Per Share
	Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding.
	The following provides a reconciliation of the shares used in calculating the per share amounts for the periods presented:
		Three			Three			Nine			Period
		Months			Months			Months			September 6,
		Ended			Ended			Ended			2012
		February 28,			February 28,			February 28,			(Inception) to
		2014			2013			2014			February 28,
											2013
		(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
	Numerator:
	Net Income	$	(246,387	)	$	(18,774	)	$	(132,889	)	$	100,524
	Denominator:
	Basic weighted-average shares		10,441,250			10,000,000			10,387,404			10,000,000
	Effect of dilutive securities:
	Convertible Debt1		-	2		-			-	2		31,062
	Diluted weighted-average shares		10,441,250			10,000,000			10,387,404			1,031,062
	Per Share Income (Loss):
	Basic	$	(0.02	)	$	(0.00	)	$	(0.01	)	$	0.01
	Diluted	$	(0.02	)	$	(0.00	)	$	(0.01	)	$	0.01
	1  Convertible debt is convertible into 37,000 shares of common stock.
	2  Convertible debt for the three and nine months ended February 28, 2013 is not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.
	Accounting Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.  Actual results could differ from those estimates.  Management uses its best judgment in valuing these estimates, and may, as warranted, solicit external professional advice and other assumptions believed to be reasonable.
	Fair Value Measurements
	The authoritative guidance for fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or the most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact.  The guidance describes a fair value hierarchy based on the levels of inputs, or which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:
	Level 1:  Quoted prices in active markets for identical assets or liabilities.
	Level 2:  Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active, or other inputs that are observable or corroborated by observable market data or substantially the full term of the assets or liabilities.
	Level 3:  Unobservable inputs that are supported by little or no market activity and that are significant to the value of the assets or liabilities.
	The Company's financial instruments include cash and cash equivalents, accounts receivable and accounts payable.  These items are determined to be a Level 1 fair value measurement.
	The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and loans payable approximates fair value because of the short maturity of these instruments.  The recorded value of long-term debt approximates its fair value as the terms and rates approximate market rates.
	Recent Accounting Pronouncements
	Management does not believe there would have been a material effect on the accompanying financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period.

Inventories

Inventories	9 Months Ended
	Feb. 28, 2014
Inventories [Abstract]	'
Inventories	'
	NOTE 2 - Inventories
	Inventories consist of the following:
			February 28,		May 31,
			2014		2013
		(Unaudited)
	Raw Materials		$	549,128	$	1,508,981
	Finished Goods			764,241		280,413
	Total Inventory		$	1,313,369	$	1,789,394
	Inventories are pledged as security for the Company’s Accounts Receivable Financing Agreement (see Note 8).

Property_and_Equipment

Property and Equipment	9 Months Ended
	Feb. 28, 2014
Property and Equipment [Abstract]	'
Property and Equipment	'
	NOTE 3 - Property and Equipment
	Property and equipment consists of the following:
		February 28,		May 31,
		2014		2013
		(Unaudited)
	Office Equipment	$	8,066	$	6,916
	Computers		4,808		4,808
			12,874		11,724
	Less:  Accumulated Depreciation		3,162		757
		$	9,712	$	10,967
	Depreciation expense was $2,405 for the nine months ended February 28, 2014 and $320 for the period September 6, 2012 (inception) through February 28, 2013.

Convertible_Note_Payable_Relat

Convertible Note Payable - Related Party	9 Months Ended
	Feb. 28, 2014
Convertible Note Payable - Related Party [Abstract]	'
Convertible Note Payable - Related Party	'
	NOTE 4 - Convertible Note Payable – Related Party
	Convertible note payable to the Company’s president is summarized as follows:
			February 28,		May 31,
			2014		2013
		(Unaudited)
	Note Payable, bearing interest at 4% per annum, and due December 31, 2015. The note is Convertible into shares of the Company’s Common stock at a conversion rate of $2 per share, subject to adjustment upon the occurrence of certain events including stock dividends, stock split or combinations and reclassifications.		$	74,000	$	74,000

Loans_Payable_Related_Parties

Loans Payable - Related Parties	9 Months Ended
	Feb. 28, 2014
Loans Payable - Related Party [Abstract]	'
Loans Payable - Related Parties	'
	NOTE 5 - Loans Payable – Related Parties
	Loans payable to related parties is summarized as follows:
			February 28,		May 31,
			2014		2013
		(Unaudited)
	Loans payable to the Company’s President. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.		$	209,632	$	-

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Feb. 28, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	NOTE 6 - Commitments and Contingencies
	On July 26, 2013 the Company entered into a three year consulting agreement with Sands Point Associates, LLC and its CEO, Robert McMullan.  Pursuant to this consulting agreement, the compensation for the first year was to be $125,000, the second year was $200,000 and the third year was $200,000.  The agreement called for the Company to issue Mr. McMullan an aggregate of 500,000 shares of common stock of which 50,000 shares vested upon the commencement and 450,000 shares shall be subject to quarterly vesting over three years while the agreement is in full force and effect.   This consulting agreement could be terminated by either party, with or without cause, upon thirty days written notice.  The Company recorded consulting fee expense of $226,900 for the nine months ended February 28, 2014 of which $100,000 was in connection with the 50,000 shares vested.  Additionally the Company issued 41,667 shares which were vested at $2 per share at November 1, 2013 for $75,000.  On December 3, 2013, Sands Point Associates, LLC, notified the Company of its intent to terminate this consulting agreement pursuant to the terms of the consulting agreement, the termination took effect January 2, 2014.  There is no additional compensation due Sands Point Associates, LLC.
	On October 9, 2013 the Company entered into a four month consultant agreement with a consultant.  The consultant agreement calls for the issuance of 25,000 shares of the Company’s common stock as compensation.  The shares are to be issued under a Form S-8 Registration to be undertaken by the Company as soon as practicable.  No shares have been earned or issued under this agreement.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Feb. 28, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	NOTE 7 - Related Party Transactions
	On October 1, 2012 the Company entered into a one-year consulting agreement with Isaac Gurary, under which he was to provide certain business and corporate marketing services to the Company for an annual consulting fee of 3% of net sales during the term of the agreement.  As of February 28, 2014 $78,855 were owed to Mr. Gurary under this agreement.  As of May 31, 2013, the Company had recorded accrued compensation to Mr. Gurary in the amount of $65,000 and such amount was included in accrued expenses.  Mr. Gurary serves as the Company’s President and is a significant stockholder of the Company.
	During the nine months ended February 28, 2014, the Company purchased approximately 68% % (on average approximately 60%, the percentage among periods vary depend on the timing of bulk diamond stone purchases from non-affiliate parties) of its merchandise from Classique Creations LLC (“Classique”), a company that is owned by the mother of the Company’s President.
	Included in accounts payable at February 28, 2014 and May 31, 2013 are amounts owed to Classique totaling approximately $1,202,000 and $656,000, respectively.  Payment terms to Classique are one to twelve months and the manner of settlement is cash payment.  Pursuant to the Accounts Receivable Financing Agreement (See Note 8), accounts payable to Classique totaling $500,000 are subordinated to the finance company.
	The Company rents office space from a Company affiliated with the Company’s president on a month to month basis.  The agreement calls for current rent at $2,122 per month.  Rent expense was $20,602 for the nine months ended February 28, 2014, and $8,000 for the period September 6, 2012 (Inception) to February 28, 2013.

Financing_Agreement

Financing Agreement	9 Months Ended
	Feb. 28, 2014
Financing Agreement [Abstract]	'
Financing Agreement	'
	NOTE 8 - Financing Agreement
	On September 30, 2013 the Company entered into an Account Receivable Financing Agreement with Rosenthal & Rosenthal, Inc. (“Rosenthal”) pursuant to which Rosenthal shall provide the Company with a line of credit up to $1,000,000.  Loans made under the Accounts Receivable Financing Agreement bear interest at prime rate plus 3.5% (for an effective average rate of 7.5% for both the three months and nine months ended February 28, 2014) and are subject to certain financial covenants.  As security for these loans, Rosenthal has placed liens on the Company’s accounts receivable, inventories, and all other assets.  In addition, the loans have been personally guaranteed by Yitzchok Gurary, and his parents, Mordechai Gurary and Leah Gurary.  In addition, the Company has granted Rosenthal a Landlord Subordination agreement.
	The Accounts Receivable Financing Agreement calls for the subordination of certain of the Company’s debt as follows:
	Accounts Payable – Classique Creations, LLC	$	500,000
	Demand Loans Payable – Yitzchok Gurary	$	209,000
	In connection with the Accounts Receivable Finance Agreement, the Company has borrowed $746,000 net as of February 28, 2014.  Total draws and repayments for the nine months ended February 28, 2014 totaled $2.9 million and $2.2 million, respectively. The Accounts Receivable Financing Agreement expires September 30, 2015.

Preferred_Stock

Preferred Stock	9 Months Ended
	Feb. 28, 2014
Preferred Stock [Abstract]	'
Preferred Stock	'
	NOTE 9 - Preferred Stock
	The Company’s Board of Directors may issue shares of preferred stock in series and at the time of issuance, determine the rights, preferences and limitation of each series. The holders of preferred stock may be entitled to receive a preference payment in the event of any liquidation, dissolution or winding-up of the Company before any payment is made to the holders of the common stock. Furthermore, the board of directors could issue preferred stock with voting and other rights that could adversely affect the voting power of the holders of the common stock.

Major_Suppliers

Major Suppliers	9 Months Ended
	Feb. 28, 2014
Major Suppliers [Abstract]	'
Major Suppliers	'
	NOTE 10 - Major Suppliers
	During the nine months ended February 28, 2014, the Company purchased approximately $2,087,000 (approximately 68%) of its merchandise from one manufacturer that is a related party (see Note 7).
	In addition, the Company purchased merchandise from another vendor which amounted to approximately 29% of total purchases during the nine months ended February 28, 2014.

Income_Taxes

Income Taxes	9 Months Ended
	Feb. 28, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	NOTE 11 - Income Taxes
	Income tax provision consists of the following:
			Three			Three			Nine		Period
			Months Ended			Months Ended			Months Ended		September 6,
			28-Feb-14			28-Feb-13			28-Feb-14		2012
											(Inception) to
											February 28,
											2013
			(Unaudited)			(Unaudited)			(Unaudited)		(Unaudited)
	Current:
	Federal		$	(57,400	)	$	(20,000	)	$	-	$	43,000
	State and Local			(474	)		-			5,026		5,000
				(57,874	)		(20,000	)		5,026		48,000
	Deferred:
	Federal		$	-		$	-		$	-	$	(5,000	)
	State and Local			-			-			-		(2,000	)
				-			-			-		(7,000	)
			$	(57,874	)	$	(20,000	)	$	5,026	$	41,000
	Deferred tax assets consist of the following:
			February 28,			May 31,
			2014			2013
		(Unaudited)
	Reserve for Bad Debts		$	7,000		$	7,000
	Reserves for Sales Returns and Allowances			6,500			6,500
			$	13,500		$	13,500
	The federal statutory income tax rate is reconciled to the effective rate as follows:
			Nine			Period
			Months			September 6,
			Ended			2012
			February 28,			(Inception)
			2014			to
						February 28,
						2013
			(Unaudited)
	Tax provision at Federal Statutory rate			34	%		34	%
	State and local income taxes, net of federal tax benefit			2.6			2.3
	Stock issued for services			(23.3	)		-
	Other			(9.4	)		-
	Provision for bad debts and allowances for sales returns			-			(7.3	)
	Tax provision at effective tax rate			3.9	%		29	%

Subsequent_Events

Subsequent Events	9 Months Ended
	Feb. 28, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Note 12 - Subsequent Events
	None.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Feb. 28, 2014

Summary of Significant Accounting Policies [Abstract]

'

Organization and Basis of Presentation

'

Organization and Basis of Presentation

Romantique Ltd. (“the Company”) was incorporated on September 6, 2012 under the laws of the State of New York.  The Company is a wholesaler and manufacturer of jewelry including pendants, bracelets and earrings.  We began operations on October 1, 2012 by selling fashion rings, pendants, earrings and bracelets to independent retailers. In December 2012, we commenced a line of bridal (engagement) rings, featuring both settings and diamonds.

In February 2014 the Company began focusing on bridal jewelry featuring uniquely cut stones (“Unique Cushion Brilliant Cut stones”). These stones utilize an advanced cutting technique that can visually and physically increase the crown size (the top and most visible part of the stone) of similarly weighted stones by 150% to 200%. Because this unique cutting technique significantly increases the crown size of the stone while decreasing the pavilion (bottom end below the crown) of the stone which is usually not seen, these diamonds appear to be much larger than typically cut diamonds of the same weight. In addition, because our company creates each ring based on a specific stone, as each stone’s measurements and appearance is unique, the Company will design rings which accentuate a diamond’s brilliance and other positive attributes.

The Company has selected May 31 as its fiscal year. In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the information set forth therein.  These financial statements are condensed and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.  These condensed financial statements should be read in conjunction with the Company’s May 31, 2013 audited financial statements and notes included in the registration statement on Form S-1, Amendment No. 3 filed on September 3, 2013.

Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.

Cash and Cash Equivalents

'

Cash and Cash Equivalents

The Company considers all highly-liquid investments purchased with a maturity of three months or less to be cash equivalents.  As of February, 2014 and 2013, the Company did not have any cash equivalents.

Inventories

'

Inventories

Raw materials are stated at the lower of cost or market, with cost determined by specific identification for unique items (such as diamond stones, each with a particular carat weight, color, clarity and cut) and using the first-in, first-out method for generic items or styles (certain semi-mounts and fashion jewelry).  Finished goods which we fabricate are stated at the lower of cost or market, with cost determined by specific identification for each component making up the item plus direct labor and other direct fees (primarily diamond certification).

Property and Equipment

'

Property and Equipment

Property and equipment is carried at cost less accumulated depreciation.  Depreciation is computed by the straight-line method over the estimated useful lives of the related assets, which is five years.

Revenue Recognition

'

Revenue Recognition

For revenue from product sales, the Company recognizes revenue in accordance with Staff Accounting Bulletin No. 104, “Revenue Recognition” (SAB No. 104), which superseded Staff Accounting Bulletin No. 101, “Revenue Recognition in Financial Statements” (SAB No. 101).  SAB No. 104 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured.  Determination of criteria (3) and (4) are based on management’s judgment regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts.  Provisions for discounts and rebates to customers, estimated returns and allowance, and other adjustments are provided for in the same period the related sales are recorded.  Provisions for sales returns and allowances that were netted against sales amounted to $72,045 for the nine months ended February 28, 2014 and $14,000 for the period September 6, 2012 (inception) to February 28, 2013.

Advertising Costs

'

Advertising Costs

Advertising costs are charged to operations when incurred.  Advertising costs during the nine months ended February 28, 2014 was $12,405.  Advertising costs incurred during the period September 6, 2012 (inception) through February 28, 2013 was $485.

Deferred Income Taxes

'

Deferred Income Taxes

The Company accounts for deferred income taxes using the asset and liability method, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax bases of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled.  A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Net Income Per Share

'

Net Income Per Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding.

The following provides a reconciliation of the shares used in calculating the per share amounts for the periods presented:

Three

Three

Nine

Period

Months

Months

Months

September 6,

Ended

Ended

Ended

2012

February 28,

February 28,

February 28,

(Inception) to

2014

2013

2014

February 28,

2013

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

Numerator:

Net Income

$

(246,387

)

$

(18,774

)

$

(132,889

)

$

100,524

Denominator:

Basic weighted-average shares

10,441,250

10,000,000

10,387,404

10,000,000

Effect of dilutive securities:

Convertible Debt1

-

2

-

-

2

31,062

Diluted weighted-average shares

10,441,250

10,000,000

10,387,404

1,031,062

Per Share Income (Loss):

Basic

$

(0.02

)

$

(0.00

)

$

(0.01

)

$

0.01

Diluted

$

(0.02

)

$

(0.00

)

$

(0.01

)

$

0.01

1  Convertible debt is convertible into 37,000 shares of common stock.

2  Convertible debt for the three and nine months ended February 28, 2013 is not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.

Accounting Estimates

'

Accounting Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.  Actual results could differ from those estimates.  Management uses its best judgment in valuing these estimates, and may, as warranted, solicit external professional advice and other assumptions believed to be reasonable.

Fair Value Measurements

'

Fair Value Measurements

The authoritative guidance for fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or the most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact.  The guidance describes a fair value hierarchy based on the levels of inputs, or which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:

Level 1:  Quoted prices in active markets for identical assets or liabilities.

Level 2:  Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active, or other inputs that are observable or corroborated by observable market data or substantially the full term of the assets or liabilities.

Level 3:  Unobservable inputs that are supported by little or no market activity and that are significant to the value of the assets or liabilities.

The Company's financial instruments include cash and cash equivalents, accounts receivable and accounts payable.  These items are determined to be a Level 1 fair value measurement.

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and loans payable approximates fair value because of the short maturity of these instruments.  The recorded value of long-term debt approximates its fair value as the terms and rates approximate market rates.

Recent Accounting Pronouncements

'

Recent Accounting Pronouncements

Management does not believe there would have been a material effect on the accompanying financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Feb. 28, 2014
Summary of Significant Accounting Policies [Abstract]	'
Schedule of reconciliation of the shares used in calculating the per share amounts	'
		Three			Three			Nine			Period
		Months			Months			Months			September 6,
		Ended			Ended			Ended			2012
		February 28,			February 28,			February 28,			(Inception) to
		2014			2013			2014			February 28,
											2013
		(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
	Numerator:
	Net Income	$	(246,387	)	$	(18,774	)	$	(132,889	)	$	100,524
	Denominator:
	Basic weighted-average shares		10,441,250			10,000,000			10,387,404			10,000,000
	Effect of dilutive securities:
	Convertible Debt1		-	2		-			-	2		31,062
	Diluted weighted-average shares		10,441,250			10,000,000			10,387,404			1,031,062
	Per Share Income (Loss):
	Basic	$	(0.02	)	$	(0.00	)	$	(0.01	)	$	0.01
	Diluted	$	(0.02	)	$	(0.00	)	$	(0.01	)	$	0.01

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Feb. 28, 2014
Inventories [Abstract]	'
Schedule of Inventories	'
			February 28,		May 31,
			2014		2013
		(Unaudited)
	Raw Materials		$	549,128	$	1,508,981
	Finished Goods			764,241		280,413
	Total Inventory		$	1,313,369	$	1,789,394

Property_and_Equipment_Tables

Property and Equipment (Tables)	9 Months Ended
	Feb. 28, 2014
Property and Equipment [Abstract]	'
Schedule of property and equipment	'
		February 28,		May 31,
		2014		2013
		(Unaudited)
	Office Equipment	$	8,066	$	6,916
	Computers		4,808		4,808
			12,874		11,724
	Less:  Accumulated Depreciation		3,162		757
		$	9,712	$	10,967

Convertible_Note_Payable_Relat1

Convertible Note Payable - Related Party (Tables)	9 Months Ended
	Feb. 28, 2014
Convertible Note Payable - Related Party [Abstract]	'
Schedule of Convertible note payable	'
			February 28,		May 31,
			2014		2013
		(Unaudited)
	Note Payable, bearing interest at 4% per annum, and due December 31, 2015. The note is Convertible into shares of the Company’s Common stock at a conversion rate of $2 per share, subject to adjustment upon the occurrence of certain events including stock dividends, stock split or combinations and reclassifications.		$	74,000	$	74,000

Loans_Payable_Related_Parties_

Loans Payable - Related Parties (Tables)	9 Months Ended
	Feb. 28, 2014
Loans Payable - Related Party [Abstract]	'
Schedule of loans payable to related parties	'
			February 28,		May 31,
			2014		2013
		(Unaudited)
	Loans payable to the Company’s President. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.		$	209,632	$	-

Financing_Agreement_Tables

Financing Agreement (Tables)	9 Months Ended
	Feb. 28, 2014
Financing Agreement [Abstract]	'
Schedule of financing agreement calls for the subordination of company's debt	'
	Accounts Payable – Classique Creations, LLC	$	500,000
	Demand Loans Payable – Yitzchok Gurary	$	209,000

Income_Taxes_Tables

Income Taxes (Tables)	9 Months Ended
	Feb. 28, 2014
Income Taxes [Abstract]	'
Schedule of Income tax provision	'
			Three			Three			Nine		Period
			Months Ended			Months Ended			Months Ended		September 6,
			28-Feb-14			28-Feb-13			28-Feb-14		2012
											(Inception) to
											February 28,
											2013
			(Unaudited)			(Unaudited)			(Unaudited)		(Unaudited)
	Current:
	Federal		$	(57,400	)	$	(20,000	)	$	-	$	43,000
	State and Local			(474	)		-			5,026		5,000
				(57,874	)		(20,000	)		5,026		48,000
	Deferred:
	Federal		$	-		$	-		$	-	$	(5,000	)
	State and Local			-			-			-		(2,000	)
				-			-			-		(7,000	)
			$	(57,874	)	$	(20,000	)	$	5,026	$	41,000
Schedule of Deferred tax assets	'
			February 28,			May 31,
			2014			2013
		(Unaudited)
	Reserve for Bad Debts		$	7,000		$	7,000
	Reserves for Sales Returns and Allowances			6,500			6,500
			$	13,500		$	13,500
Schedule of Federal statutory income tax rate reconciled to effective rate	'
			Nine			Period
			Months			September 6,
			Ended			2012
			February 28,			(Inception)
			2014			to
						February 28,
						2013
			(Unaudited)
	Tax provision at Federal Statutory rate			34	%		34	%
	State and local income taxes, net of federal tax benefit			2.6			2.3
	Stock issued for services			(23.3	)		-
	Other			(9.4	)		-
	Provision for bad debts and allowances for sales returns			-			(7.3	)
	Tax provision at effective tax rate			3.9	%		29	%

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended				6 Months Ended		9 Months Ended
	Feb. 28, 2014		Feb. 28, 2013		Feb. 28, 2013		Feb. 28, 2014
Numerator:	'		'		'		'
Net Income	($246,387)		($18,774)		$100,524		($132,889)
Denominator:	'		'		'		'
Basic weighted-average shares	10,441,250		10,000,000		10,000,000		10,387,404
Effect of dilutive securities:	'		'		'		'
Convertible Debt1	'	[1],[2]	'	[1]	31,062	[1]	'	[1],[2]
Diluted weighted-average shares	10,441,250		10,000,000		10,031,062		10,387,404
Per Share Income (Loss):	'		'		'		'
Basic	($0.02)		$0		$0.01		($0.01)
Diluted	($0.02)		$0		$0.01		($0.01)
[1]	Convertible debt is convertible into 37,000 shares of common stock.
[2]	Convertible debt for the three and nine months ended February 28, 2013 is not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details Textual) (USD $)	6 Months Ended	9 Months Ended
	Feb. 28, 2013	Feb. 28, 2014
Summary of Significant Accounting Policies (Textual)	'	'
Estimated useful lives of the assets	'	'5 years
Provision for sales returns and allowances	$14,000	$72,045
Advertising costs	$485	$12,405
Increases in crown size of weighted stones	'	'150% to 200
Convertible debt shares	'	37,000

Inventories_Details

Inventories (Details) (USD $)	Feb. 28, 2014	31-May-13
Schedule of Inventory	'	'
Raw Materials	$549,128	$1,508,981
Finished Goods	764,241	280,413
Total Inventory	$1,313,369	$1,789,394

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	Feb. 28, 2014	31-May-13
Schedule of property and equipment	'	'
Property and equipment, gross	$12,874	$11,724
Less: Accumulated Depreciation	3,162	757
Property and equipment, net	9,712	10,967
Office Equipment [Member]	'	'
Schedule of property and equipment	'	'
Property and equipment, gross	8,066	6,916
Computers [Member]	'	'
Schedule of property and equipment	'	'
Property and equipment, gross	$4,808	$4,808

Property_and_Equipment_Details1

Property and Equipment (Details Textual) (USD $)	6 Months Ended	9 Months Ended
	Feb. 28, 2013	Feb. 28, 2014
Property and Equipment (Textual)	'	'
Depreciation expense	$320	$2,405

Convertible_Note_Payable_Relat2

Convertible Note Payable - Related Party (Details) (USD $)	Feb. 28, 2014	31-May-13
Summary of convertible notes payable	'	'
Convertible Note Payable - Related Party	$74,000	$74,000

Convertible_Note_Payable_Relat3

Convertible Note Payable - Related Party (Details Textual) (USD $)	Feb. 28, 2014
Convertible Notes Payable - Related Party (Textual)	'
Note Payable, bearing interest	4.00%
Note Payable, bearing interest due date	31-Dec-15
Convertible common stock conversion	$2

Loans_Payable_Related_Parties_1

Loans Payable - Related Parties (Details) (USD $)	Feb. 28, 2014	31-May-13
Summary of loans payable related parties	'	'
Loans payable to the Company's President. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.	$209,632	'
President [Member]	'	'
Summary of loans payable related parties	'	'
Loans payable to the Company's President. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.	$209,632	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	Feb. 28, 2014	31-May-13	Oct. 09, 2013	Oct. 01, 2012	Nov. 01, 2013	Feb. 28, 2014	Jul. 31, 2013	Feb. 28, 2014
			Compensation fee [Member]	Issac Gurary [Member]	Sands Point Associates [Member]	Sands Point Associates [Member]	Robert McMullan [Member]	Robert McMullan [Member]
							Compensation fee [Member]	Compensation fee [Member]
Commitments and contingencies (Textual)	'	'	'	'	'	'	'	'
Compensation fee for the first year	'	'	'	'	'	'	$125,000	'
Compensation fee for the second year	'	'	'	'	'	'	200,000	'
Compensation fee for the third year	'	'	'	'	'	'	200,000	'
Consulting agreement period	'	'	'	'1 year	'	'	'3 years	'
Aggregate shares of common stock	10,441,250	10,353,750	25,000	'	'	'	'	500,000
Shares of common stock vested	'	'	'	'	'	'	'	50,000
Number of shares subject to quarterly vesting	'	'	'	'	'	'	'	450,000
Consulting Fees	'	'	'	'	'	'	'	226,900
Common stock issued to Robert McMullan, Value	'	'	'	'	$41,667	$100,000	'	'
Common stock issued to Robert McMullan, Shares	'	'	'	'	75,000	50,000	'	'
Common stock, per share	$0.00	$0.00	'	'	$2	'	'	'

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	6 Months Ended	9 Months Ended				0 Months Ended
	Feb. 28, 2013	Feb. 28, 2014	31-May-13	Feb. 28, 2014	Feb. 28, 2014	Oct. 01, 2012	Feb. 28, 2014	31-May-13
				Financing Agreement [Member]	Related Party Transaction [Member]	Issac Gurary [Member]	Issac Gurary [Member]	Issac Gurary [Member]
					Financing Agreement [Member]
Related Party Transactions (Textual)	'	'	'	'	'	'	'	'
Consulting agreement period	'	'	'	'	'	'1 year	'	'
Percentage of annual consulting fee	'	'	'	'	'	3.00%	'	'
Owed to Mr.Gurary under this agreement	'	'	'	'	'	'	$78,855	'
Accrued compensation expenses	'	'	'	'	'	'	'	65,000
Purchase of its merchandise from Classique Creations LLC (Percentage)	'	68.00%	'	'	'	'	'	'
Accounts payable to Classique Creations LLC	'	1,202,000	656,000	'	'	'	'	'
Cash payment terms to Classique Creations LLC	'	'One to twelve months	'	'	'	'	'	'
Rent expenses per month	'	2,122	'	'	'	'	'	'
Rent expense	8,000	20,602	'	'	'	'	'	'
Borrowings	'	'	'	$746,000	$500,000	'	'	'
Purchase of merchandise from non affiliate parties percentage	'	60.00%	'	'	'	'	'	'

Financing_Agreement_Details

Financing Agreement (Details) (Financing Agreement [Member], USD $)	Feb. 28, 2014
Financing Agreement [Member]	'
Subordinated Borrowing [Line Items]	'
Accounts Payable - Classique Creations, LLC	$500,000
Demand Loans Payable - Yitzchok Gurary	$209,000

Financing_Agreement_Details_Te

Financing Agreement (Details Textual) (USD $)	6 Months Ended	9 Months Ended	1 Months Ended	9 Months Ended
	Feb. 28, 2013	Feb. 28, 2014	Sep. 30, 2013	Feb. 28, 2014
			Financing Agreement [Member]	Financing Agreement [Member]
Financing Agreement (Textual)	'	'	'	'
Line of credit	'	'	$1,000,000	'
Line of credit interest description	'	'	'Interest at prime rate plus 3.5% (for an effective average rate of 7.5% for both the three months and nine months ended February 28, 2014).	'
Borrowings	'	'	'	746,000
Finance agreement Expiration Date	'	'	'	30-Sep-15
Draws from loans payable	'	2,907,500	'	'
Repayments to loans payable	$0	$2,161,539	'	'

Major_Suppliers_Details

Major Suppliers (Details) (USD $)	9 Months Ended
	Feb. 28, 2014
Major Suppliers (Textual)	'
Purchase of merchandise from one manufacturer that is a related party, Percentage	68.00%
Purchase of merchandise from one manufacturer that is a related party	$2,087,000
Vendor 1 [Member]	'
Major Suppliers (Textual)	'
Percentage of merchandise from vendors	29.00%

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended	9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2013	Feb. 28, 2014
Current:	'	'	'	'
Federal	($57,400)	($20,000)	$43,000	$5,026
State and Local	-474	'	5,000	'
Income tax provision, Current	-57,874	-20,000	48,000	5,026
Deferred:	'	'	'	'
Federal	'	'	-5,000	'
State and Local	'	'	-2,000	'
Income tax provision, Deferred	'	'	-7,000	'
Income tax provision, Total	($57,874)	($20,000)	$41,000	$5,026

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	Feb. 28, 2014	31-May-13
Summary of deferred tax assets	'	'
Reserve for Bad Debts	$7,000	$7,000
Reserves for Sales Returns and Allowances	6,500	6,500
Deferred tax assets, Total	$13,500	$13,500

Income_Taxes_Details_2

Income Taxes (Details 2)	6 Months Ended	9 Months Ended
	Feb. 28, 2013	Feb. 28, 2014
Summary of federal statutory income tax rate is reconciled to the effective rate	'	'
Tax provision at Federal Statutory rate	34.00%	34.00%
State and local income taxes, net of federal tax benefit	2.30%	2.60%
Stock issued for services	'	-23.30%
Other	'	-9.40%
Provision for bad debts and allowances for sales returns	-7.30%	'
Tax provision at effective tax rate	29.00%	3.90%