Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Sep. 30, 2015 | Nov. 02, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | Intellisense Solutions Inc. | |
Entity Central Index Key | 1,577,445 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2015 | |
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 | 2,529,680 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,016 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Sep. 30, 2015 | Mar. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 2,497 | $ 11,863 |
Prepaid expenses | ||
Total assets | $ 2,497 | $ 11,863 |
Current liabilities: | ||
Accounts payable and accrued expenses | 26,581 | $ 5,701 |
Accounts payable related party | 4,995 | |
Total current liabilities | 31,576 | $ 5,701 |
Stockholders' equity (deficit): | ||
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 | (102,227) | (66,986) |
Total stockholders' equity (deficit) | (29,079) | 6,162 |
Total liability and stockholders' equity (deficit) | $ 2,497 | $ 11,863 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2015 | Mar. 31, 2015 |
Stockholders' equity: | ||
Common stock, par value | $ 0.001 | $ 0.001 |
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 |
CONDENSED STATEMENT OF OPERATIO
CONDENSED STATEMENT OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
OPERATING EXPENSES | ||||
Professional fees | $ 24,383 | $ 1,950 | $ 32,827 | $ 8,150 |
General & administrative | 1,186 | 2,651 | 2,414 | 3,851 |
Total Operating Expense | 25,569 | 4,601 | 35,241 | 12,001 |
NET LOSS | $ (25,569) | $ (4,601) | $ (35,241) | $ (12,001) |
BASIC AND DILUTED NET LOSS PER SHARE | $ (0.01) | $ (0.01) | ||
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 2,529,680 | 2,529,680 | 2,529,680 | 2,529,680 |
CONDENSED STATEMENT OF CASH FLO
CONDENSED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (35,241) | $ (12,001) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 665 | |
Accounts payable and accrued liabilities | $ 20,880 | $ 2,785 |
Accounts payable related party | 4,995 | |
Net cash used in operating activities | (9,366) | $ (8,551) |
NET CHANGE IN CASH | (9,366) | (8,551) |
CASH AT BEGINNING OF PERIOD | 11,863 | 36,501 |
CASH AT END OF PERIOD | $ 2,497 | $ 27,950 |
Nature Of Operations, Basis Of
Nature Of Operations, Basis Of Presentation And Significant Accounting Policies | 6 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
Note 1 - Nature Of Operations, Basis Of Presentation And Significant Accounting Policies | Intellisense Solutions Inc. (Intellisense, we or the Company) was incorporated under the laws of the State of Nevada on March 22, 2013. We are engaged in the business of developing web portals to allow companies and individuals to engage in the purchase and sales of vegetarian food products over the Internet. We currently have no significant operations. Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the rules of the Securities and Exchange Commission (SEC) for interim financial information and do not include all of the information or disclosures required by U.S. GAAP for annual financial statements. Accordingly, these unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company's Annual Report on Form 10-K as of and for the fiscal year ended March 31, 2015, as filed on June 10, 2015. 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 periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year, or any other period. |
Going Concern And Management_s
Going Concern And Management’s Liquidity Plans | 6 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
Note 2 - Going Concern And Management’s Liquidity Plans | The unaudited condensed financial statements contained in this quarterly report have been prepared assuming that the Company will continue as a going concern. We have accumulated losses since inception through September 30, 2015 of $102,227 and have negative working capital of $29,079 and negative cash flow from operations of $9,366 as of September 30, 2015. Presently, we do not have sufficient cash resources to meet our plans in the twelve months following September 30, 2015. These factors raise substantial doubt about the Companys ability to continue as a going concern. Since inception, the Company has financed its activities from the sale of equity securities. The Company intends on financing its future development activities and its working capital needs from loans and/or the sale of additional equity securities until such time that funds provided by operations are sufficient to fund working capital requirements. There are no assurances that we will be able to achieve further sales of our common stock or any other form of additional financing. The unaudited financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern. Our continuation as a going concern is dependent on our ability to obtain additional financing as may be required and ultimately to attain profitability. |
Related Party Transaction
Related Party Transaction | 6 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
Note 3 - Related Party Transaction | On June 15, 2015, the Companys two officers and directors resigned and Neil Reithinger was appointed as President, Treasurer, Secretary and a director. Mr. Reithinger is now the Companys sole director and officer. The resignations were not as a result of any disagreements on any matter relating to the Companys operations, policies or practices. Mr. Reithinger is the Founder and President of Eventus Advisory Group, LLC, a private, CFO-services firm (Eventus). Commencing on June 15, 2015, Eventus was engaged to provide accounting and advisory services to the Company in connection with audit coordination, financial statement preparation and SEC filings. The Company pays customary fees for these services. |
Nature Of Operations, Basis Of9
Nature Of Operations, Basis Of Presentation And Significant Accounting Policies (Policies) | 6 Months Ended |
Sep. 30, 2015 | |
Nature Of Operations Basis Of Presentation And Significant Accounting Policies Policies | |
Basis of Presentation | The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the rules of the Securities and Exchange Commission (SEC) for interim financial information and do not include all of the information or disclosures required by U.S. GAAP for annual financial statements. Accordingly, these unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company's Annual Report on Form 10-K as of and for the fiscal year ended March 31, 2015, as filed on June 10, 2015. 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 periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year, or any other period. |
Going Concern And Management_10
Going Concern And Management’s Liquidity Plans (Detail Narrative) - USD ($) | 6 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Mar. 31, 2015 | |
Going Concern And Managements Liquidity Plans Detail Narrative | |||
Accumulated deficit | $ (102,227) | $ (66,986) | |
Working capital | (29,079) | ||
Cash flow from operations | $ (9,366) | $ (8,551) |
Related Party Transaction (Deta
Related Party Transaction (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | |
Related Party Transaction Details Narrative | |||
Accounts payable related party | $ 4,995 | ||
Company fees | $ 4,005 | $ 4,995 |