Vilacto Bio (VIBI) 10-Q 5 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014	Jan. 20, 2015
Document And Entity Information
Entity Registrant Name	ZLATO INC.
Entity Central Index Key	1576724
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-28
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		6,000,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2015

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Dec. 31, 2014	Mar. 31, 2014
Current assets
Cash and bank accounts		$13,598
Prepaid office rent	126
Total current assets	126	13,598
Total assets	126	13,598
Current liabilities
Accounts payable	4,034	100
Due to director	1,500
Total current liabilities	5,534	100
Stockholder's equity (Note 4,5)
Authorized: 75,000,000 common shares Par value $0.001 Issued and outstanding: 6,000,000 common shares	6,000	6,000
Additional paid-in capital	59,000	59,000
Deficit accumulated during the development stage	-70,408	-51,502
Total stockholders' (deficit) equity	-5,408	13,498
Total liabilities and stockholders' deficit	$126	$13,598

BALANCE_SHEETS_Parenthetical

BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Stockholders' equity
Common stock, par value	$0.00	$0.00
Common stock shares, authorized	75,000,000	75,000,000
Common stock shares, issued	6,000,000	6,000,000
Common stock shares, outstanding	6,000,000	6,000,000

STATEMENTS_OF_OPERATIONS_unaud

STATEMENTS OF OPERATIONS (unaudited) (USD $)	3 Months Ended				9 Months Ended				22 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2014
Statements Of Operations
REVENUE
OPERATING EXPENSES
General & administrative	1,105		6,338		3,356		8,158		13,660
Organization									555
Professional fees	2,250		10,034		15,550		17,784		56,193
Loss before income taxes	-3,355		-16,372		-18,906		-25,942		-70,408
Provision for income taxes
Net loss	($3,355)		($16,372)		($18,906)		($25,942)		($70,408)
Basic and diluted loss per Common share		[1]		[1]		[1]		[1]		[1]
Weighted average number of common shares outstanding (Note 5)	6,000,000		5,817,391		6,000,000		5,275,054
[1]	less than $0.01

STATEMENTS_OF_STOCKHOLDERS_DEF

STATEMENTS OF STOCKHOLDERS' DEFICIT (unaudited) (USD $)	Common Stock	Additional Paid-In Capital	Deficit Accumulated During the Development Stage	Total
Beginning Balance, Amount at Feb. 25, 2013
Beginning Balance, Shares at Feb. 25, 2013
Initial capitalization, sale of common stock to Director on February 25, 2013, Amount	5,000	10,000		15,000
Initial capitalization, sale of common stock to Director on February 25, 2013, Shares	5,000,000
Net loss for the period			-555	-555
Ending Balance, Amount at Mar. 31, 2013	5,000	10,000	-555	14,445
Ending Balance, Shares at Mar. 31, 2013	5,000,000
Common stock issued for cash, Amount	1,000	49,000		50,000
Common stock issued for cash, Shares	1,000,000
Net loss for the period			-50,947	-50,947
Ending Balance, Amount at Mar. 31, 2014	6,000	59,000	-51,502	13,498
Ending Balance, Shares at Mar. 31, 2014	6,000,000
Net loss for the period			-18,906	-18,906
Ending Balance, Amount at Dec. 31, 2014	$6,000	$59,000	($70,408)	($5,408)
Ending Balance, Shares at Dec. 31, 2014	6,000,000

STATEMENTS_OF_CASH_FLOWS_unaud

STATEMENTS OF CASH FLOWS (unaudited) (USD $)	9 Months Ended		22 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
OPERATING ACTIVITIES
Net loss for the period	($18,906)	($25,942)	($70,408)
Changes in operating assets and liabilities:
Prepaid office rent	-126	-118	-126
Accounts payable	3,934		4,034
Net cash used for operating activities	-15,098	-26,060	-66,500
FINANCING ACTIVITIES
Due to director	1,500		1,500
Proceeds from issuance of common stock		50,000	65,000
Net cash provided by financing activities	1,500	50,000	66,500
Decrease (increase) in cash during the period	-13,598	23,940
Cash, beginning of the period	13,598	14,445
Cash, end of the period		38,385
Supplemental disclosure with respect to cash flows:
Cash paid for income taxes
Cash paid for interest

General_Organization_and_Busin

General Organization and Business	9 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 1. GENERAL ORGANIZATION AND BUSINESS	The Company was originally incorporated under the laws of the state of Nevada on February 25, 2013. The Company is devoting substantially all of its present efforts to establish a new business. It is considered a development stage company, and has had no revenues from operations to date.
	Initial operations have included organization and capital formation. Management is planning to develop and then market electronic medical record software for small to medium sized physician offices and clinics.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Accounting Basis
	The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles applicable to development stage enterprises. In the opinion of management, all adjustments considered necessary for fair presentation have been included in the financial statements. All losses accumulated since inception has been considered as part of the Company’s development stage activities.
	Development Stage Company
	The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development-stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.
	Basis of Presentation
	The financial statements of the Company have been prepared using the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America and are presented in U.S. dollars. The Company has adopted a March 31 fiscal year end.
	Earnings per Share
	The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. The Company has not issued any options or warrants or similar securities since inception.
	Dividends
	The Company has not yet adopted any policy regarding payment of dividends. No dividends have been paid during the periods shown.
	Cash
	The Company’s cash consists of funds deposited with its lawyer into the law firm’s trust account.
	Foreign Currency Translation
	The Company has adopted the US dollar as its functional and reporting currency because most of its transactions are denominated in US currency.
	Fair Value of Financial Instruments
	The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange.
	Income Taxes
	A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.
	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. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
	Revenue Recognition
	The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.
	Use of Estimates
	The preparation 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 revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Recent Accounting Pronouncements
	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

Going_Concern

Going Concern	9 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 3. GOING CONCERN	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has net losses from the date of incorporation on February 25, 2013 to December 31, 2014 of $70,408. The Company intends to fund its expenditures through equity financing arrangements, which may be insufficient to fund its proposed development expenditures, working capital and other cash requirements through the next fiscal year ending March 31, 2015. The ability of the Company to emerge from the development stage and continue as a going concern is dependent upon the Company’s successful efforts to raise sufficient capital for its business plans and then attaining profitable operations. In response to these issues, management has planned the following actions:
		-	The Company is attempting to raise additional equity funds through private placement to commercialize its product and maintain its existence.
		-	Management is currently formulating plans to develop and sell electronic medical records software to generate future revenues. There can be no assurances, however, that management’s expectations of future revenues will be realized.
	Over the next 12 months, management estimates the minimum amount of additional funding necessary to enable the Company to remain viable is a minimum of $15,000 and approximately $200,000 to fully carry out its intended business plan. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 4. STOCKHOLDERS' EQUITY	Authorized
	The Company is authorized to issue 75,000,000 shares of $0.001 par value common stock. All common stock shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.
	Issued and Outstanding
	On February 25, 2013 (inception), the Company issued 5,000,000 shares of its common shares to its President, Secretary Treasurer and Director for cash of $.003 per share or $15,000 in aggregate. See Note 5. On September 30 and October 31, 2013 the Company accepted subscriptions under its registered offering for 1,000,000 shares of common stock for cash of $0.05 per share or aggregate proceeds of $50,000.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 5. RELATED PARTY TRANSACTIONS	The Company’s officer and director is involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.
	On February 25, 2013, the Company issued 5,000,000 shares of its common stock to its President, Secretary Treasurer and Director for cash of $15,000. See Note 4.
	The Company’s sole officer and director provided the Company a loan of $1,500 for working capital purposes. The loan bears no interest and has no repayment terms. She has indicated that she will not seek repayment until the Company has sufficient funds to do so.

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 6. INCOME TAXES	Net deferred tax assets are $0. Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a 100% valuation allowance. Management believes it is likely that any deferred tax assets will not be realized.
	As of March 31, 2014, the Company had a net operating loss carry forward of approximately $51,502, of which $555 will expire by March 31, 2033 and $50,947 will expire by March 31, 2034.

Subsequent_Events

Subsequent Events	9 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 7. SUBSEQUENT EVENTS	We have evaluated subsequent events through to the date of issuance of the financial statements, and did not have any material recognizable subsequent events after December 31, 2014.

Recovered_Sheet1

Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Policies
Accounting Basis	The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles applicable to development stage enterprises. In the opinion of management, all adjustments considered necessary for fair presentation have been included in the financial statements. All losses accumulated since inception has been considered as part of the Company’s development stage activities.
Development Stage Company	The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development-stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.
Basis of Presentation	The financial statements of the Company have been prepared using the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America and are presented in U.S. dollars. The Company has adopted a March 31 fiscal year end.
Earnings per Share	The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. The Company has not issued any options or warrants or similar securities since inception.
Dividends	The Company has not yet adopted any policy regarding payment of dividends. No dividends have been paid during the periods shown.
Cash	The Company’s cash consists of funds deposited with its lawyer into the law firm’s trust account.
Foreign Currency Translation	The Company has adopted the US dollar as its functional and reporting currency because most of its transactions are denominated in US currency.
Fair Value of Financial Instruments	The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange.
Income Taxes	A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.
	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. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Revenue Recognition	The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.
Use of Estimates	The preparation 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 revenue and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

Going_Concern_Details_Narrativ

Going Concern (Details Narrative) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended	22 Months Ended
	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2014
Going Concern Details Narrative
Net loss	($555)	($3,355)	($16,372)	($18,906)	($25,942)	($50,947)	($70,408)

Income_Taxes_Details_Narrative

Income Taxes (Details Narrative) (USD $)	12 Months Ended
	Mar. 31, 2014
Income Taxes Details Narrative
Net operating loss carry forward	$51,502
Expiry year	The Company had a net operating loss carry forward of approximately $51,502, of which $555 will expire by March 31, 2033 and $50,947 will expire by March 31, 2034.