Vilacto Bio (VIBI) 10-Q 4 Aug 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information
Entity Registrant Name	ZLATO INC.
Entity Central Index Key	1,576,724
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--03-31
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	Q1
Document Fiscal Year Focus	2,017

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Jun. 30, 2016	Mar. 31, 2016
Current assets
Cash and bank accounts	$ 217	$ 482
Prepaid rent	316
Total current assets	533	482
Total assets	533	482
Current liabilities
Accounts payable	7,200	3,400
Due to director	22,008	21,586
Total current liabilities	29,208	24,986
Stockholders' deficit
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
Accumulated deficit	(93,675)	(89,504)
Total stockholders' deficit	(28,675)	(24,504)
Total liabilities and stockholders' deficit	$ 533	$ 482

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2016	Mar. 31, 2016
Stockholders' equity
Common stock, par value	$ 0.001	$ 0.001
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
		Jun. 30, 2016	Jun. 30, 2015
Statements Of Operations
REVENUE
OPERATING EXPENSES
General & administrative		406	1,185
Professional fees		3,765	3,765
Loss before income taxes		(4,171)	(4,950)
Provision for income taxes
Net loss		$ (4,171)	$ (4,950)
Basic and diluted loss per Common share	[1]
Weighted average number of common shares outstanding		6,000,000	6,000,000
[1]	less than $0.01

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
OPERATING ACTIVITIES
Net loss for the period	$ (4,171)	$ (4,950)
Changes in operating assets and liabilities:
Prepaid rent	(316)	(297)
Accounts payable	3,800	(80)
Net cash used for operating activities	(687)	(5,327)
FINANCING ACTIVITIES
Loan from director	422	8,196
Net cash provided by financing activities	422	8,196
(Decrease) increase in cash during the period	(265)	2,869
Cash, beginning of the period	482
Cash, end of the period	217	2,869
Supplemental disclosure with respect to cash flows:
Cash paid for income taxes
Cash paid for interest

General Organization and Busine

General Organization and Business	3 Months Ended
	Jun. 30, 2016
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, and has had no revenues from operations to date. Initial operations have included organization and capital formation. Management also has recently developed electronic medical record software for small to medium sized physician offices and clinics, and is planning to market it commercially when they can successfully raise the financing to do so.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2016
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. In the opinion of management, all adjustments considered necessary for fair presentation have been included in the financial statements. 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. 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. 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. 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	3 Months Ended
	Jun. 30, 2016
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 June 30, 2016 of $93,675. The ability of the Company to continue as a going concern is dependent upon the Company's successful efforts to either generate revenues or raise sufficient capital for its business plans and then attain profitable operations. In response to these issues, management has planned the following actions: - The Company intends to fund its expenditures through loans or equity financing arrangements, which may be insufficient to fund its proposed development expenditures, working capital and other cash requirements through the next fiscal year. - 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. Management estimates the minimum amount of additional funding necessary to enable the Company to carry out its intended business plan and remain viable for at least the twelve months following the date of the financial statements is approximately $50,000. 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	3 Months Ended
	Jun. 30, 2016
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	3 Months Ended
	Jun. 30, 2016
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. During the quarter ended June 30, 2016, the Director of the Company advanced $422 to the Company to pay expenses on behalf of the Company. Total advances to June 30, 2016 are $22,008. The advances bear no interest, are unsecured, and due on demand.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2016
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. March 31, 2016 March 31, 2015 Net loss before taxes $ 15,564 $ 22,438 Statutory rate 35 % 35 % Computed expected tax recovery 5,447 7,853 Change in valuation allowance (5,447 ) (7,853 ) Income tax provision – – The accumulated net losses to March 31, 2016 before taxes are $89,504, resulting in an aggregate deferred tax asset/recovery of $31,326. The Company has recorded a 100% valuation allowance due to the uncertainty of realization. The Company's aggregate net operating losses of $89,504 expire as follows: March 31, 2033 - $ 555 March 31, 2034 - 50,947 March 31, 2035 - 22,438 March 31, 2036 - 15,564 $ 89,504

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2016
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 June 30, 2016.

Summary Of Significant Accoun13

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2016
Summary Of Significant Accounting Policies Policies
Accounting Basis	The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for fair presentation have been included in the financial statements.
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.
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.
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.
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.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jun. 30, 2016
Income Taxes Tables
Summary of deferred tax assets	March 31, 2016 March 31, 2015 Net loss before taxes $ 15,564 $ 22,438 Statutory rate 35 % 35 % Computed expected tax recovery 5,447 7,853 Change in valuation allowance (5,447 ) (7,853 ) Income tax provision – –
Net operating losses	The Company's aggregate net operating losses of $89,504 expire as follows: March 31, 2033 - $ 555 March 31, 2034 - 50,947 March 31, 2035 - 22,438 March 31, 2036 - 15,564 $ 89,504

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended		40 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016
Going Concern Details Narrative
Net loss	$ (4,171)	$ (4,950)	$ 93,675

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Related Party Transactions Details Narrative
Loan from director	$ 422	$ 8,196
Advances from related party	$ 22,008

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Income Taxes Details
Net loss before taxes	$ 15,564	$ 22,438
Statutory rate	35.00%	35.00%
Computed expected tax recovery	$ 5,447	$ 7,853
Change in valuation allowance	(5,447)	(7,853)
Income tax provision

Income Taxes (Details 1)

Income Taxes (Details 1)	3 Months Ended
	Jun. 30, 2016USD ($)
Total	$ 89,504
March 31, 2033 [Member]
Total	555
March 31, 2034 [Member]
Total	50,947
March 31, 2035 [Member]
Total	22,438
March 31, 2036 [Member]
Total	$ 15,564