Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Dec. 31, 2014 | Feb. 13, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | Intellisense Solutions Inc. | |
Entity Central Index Key | 1577445 | |
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 | 2,529,680 | |
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 cash equivalents | $24,364 | $36,501 |
Prepaid expenses | 17 | 1,016 |
Total assets | 24,381 | 37,517 |
Current liabilities : | ||
Accounts payable and accrued expenses | 9,726 | 6,051 |
Total current liabilities | 9,726 | 6,051 |
Stockholders' equity : | ||
Common stock, $0.001 par value; 75,000,000 shares authorized, 2,529,680 issued and outstanding, respectively | 2,529 | 2,529 |
Additional paid-in capital | 70,619 | 70,619 |
Accumulated deficit | -58,493 | -41,682 |
Total stockholders' equity | 14,655 | 31,466 |
Total liability and stockholders' equity | $24,381 | $37,517 |
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, authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 2,529,680 | 2,529,680 |
Common stock, shares outstanding | 2,529,680 | 2,529,680 |
STATEMENT_OF_OPERATIONS_Unaudi
STATEMENT OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING EXPENSES | ||||
Professional fees | $3,775 | $2,658 | $11,925 | $17,622 |
General & administrative | 1,035 | 1,893 | 4,886 | 4,231 |
Total Operating Expense | 4,810 | 4,551 | 16,811 | 21,853 |
NET LOSS | ($4,810) | ($4,551) | ($16,811) | ($21,853) |
BASIC AND DILUTED NET LOSS PER SHARE | $0 | $0 | ($0.01) | ($0.01) |
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 2,529,680 | 2,475,731 | 2,529,680 | 2,163,735 |
STATEMENT_OF_CASH_FLOWS_Unaudi
STATEMENT OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | ($16,811) | ($21,853) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 999 | |
Accounts payable and accrued liabilities | 3,675 | 2,851 |
Net cash used in operating activities | -12,137 | -19,002 |
CASH FLOWS FROM FINANCING ACTIVITY | ||
Proceeds from sale of stock | 53,168 | |
Net cash provided by financing activity | 53,168 | |
Net increase (decrease) in cash and cash equivalents | -12,137 | 34,166 |
Cash and cash equivalents - opening | 36,501 | 19,980 |
Cash and cash equivalents - closing | $24,364 | $54,146 |
Nature_of_Operations
Nature of Operations | 9 Months Ended |
Dec. 31, 2014 | |
Notes to Financial Statements | |
Note 1 - Basis of Presentation | INTELLISENSE SOLUTIONS INC. (“the Company”), incorporated in the state of Nevada on March 22, 2013, was formed to market vegetarian products over the Internet. |
The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form 10-K, have been omitted | |
In the nine months ending December 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the company to remove the inception to date information and all references to development stage. This policy was approved on June 10, 2014. |
Going_Concern
Going Concern | 9 Months Ended |
Dec. 31, 2014 | |
Notes to Financial Statements | |
Note 2 - Going Concern | These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception and further losses are anticipated raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. The Company intends on financing its future development activities and its working capital needs largely from loans and the sale of public equity securities with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirement. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. |