UA Granite Corporation
Statement of Changes in Stockholders’ Deficit
From March 31, 2015 to June 30, 2016
(unaudited)
Common Stock
Additional
Paid
Accumulated
Shares
Amount
in Capital
Deficit
Total
Balances at March 31, 2015
5,650,000 $ 57
$
26,927 $ (40,698) $ (13,714)
Imputed interest
-
-
1,543
-
1,543
Net loss
-
-
-
(24,397)
(24,397)
Balances at March 31, 2016
5,650,000 $ 57
$
28,470 $ (65,095) $ (36,568)
Imputed interest
-
-
767
-
767
Net loss
-
-
-
(6,347)
(6,347)
Balances at June 30, 2016
5,650,000 $ 57
$
29,237 $ (71,442) $ (42,148)
The accompanying notes are an integral part of these condensed consolidated financial statements.
7
UA Granite Corporation
Notes to Financial Statements
June 30, 2016
(Unaudited)
NOTE 1 – NATURE OF OPERATIONS
DESCRIPTION OF BUSINESS AND HISTORY
UA Granite Corporation (the “Company”) was incorporated on February 14, 2013 in the State of Nevada.
The Company does not have any revenues and has incurred losses since inception. Currently, the
Company has no operations, has been issued a going concern opinion and relies upon the sale of our
securities and loans from its sole officer and director to fund operations.
GOING CONCERN
These financial statements have been prepared on a going concern basis, which implies the Company will
continue to meet its obligations and continue its operations for the next fiscal year. Realization value may
be substantially different from carrying values as shown and these financial statements do not include any
adjustments to the recoverability and classification of recorded asset amounts and classification of
liabilities that might be necessary should the Company be unable to continue as a going concern. As at
June 30, 2016 the Company has a working capital deficiency, has not generated revenues and has
accumulated losses since inception. The continuation of the Company as a going concern is dependent
upon the continued financial support from its shareholders, the ability of the Company to obtain necessary
equity financing to continue operations, and the attainment of profitable operations. These factors raise
substantial doubt regarding the Company’s ability to continue as a going concern.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION
These financial statements and related notes are presented in accordance with accounting principles
generally accepted in the United States, and are expressed in U.S. dollars. The Company’s fiscal year-end
is March 31.
USE OF ESTIMATES
The preparation of financial statements in accordance with U.S. generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts of net revenue and expenses in
the reporting period. We regularly evaluate our estimates and assumptions related to the useful life and
recoverability of long-lived assets, stock-based compensation and deferred income tax asset valuation
allowances. We base our estimates and assumptions on current facts, historical experience and various
other factors that we believe to be reasonable under the circumstances, the results of which form the basis
for making judgments about the carrying values of assets and liabilities and the accrual of costs and
expenses that are not readily apparent from other sources. The actual results experienced by us differ
materially and adversely from our estimates. To the extent there are material differences between our
estimates and the actual results, our future results of operations will be affected.
8
UA Granite Corporation
Notes to Financial Statements
June 30, 2016
(Unaudited)
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
CASH AND CASH EQUIVALENTS
The Company considers all highly liquid instruments with original maturities of three months or less
when acquired, to be cash equivalents. We had no cash equivalents at June 30, 2016 or March 31, 2016.
INCOME TAXES
The Company accounts for income taxes under the provisions issued by the FASB which requires
recognition of deferred tax liabilities and assets for the expected future tax consequences of events that
have been included in the financial statements or tax returns. Under this method, deferred tax liabilities
and assets are determined based on the difference between the financial statement and tax bases of assets
and liabilities using enacted tax rates in effect for the year in which the differences are expected to
reverse. The Company computes tax asset benefits for net operating losses carried forward. The potential
benefit of net operating losses has not been recognized in these financial statements because the Company
cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future
years.
LOSS PER COMMON SHARE
The Company reports net loss per share in accordance with provisions of the FASB. The provisions
require dual presentation of basic and diluted loss per share. Basic net loss per share excludes the impact
of common stock equivalents. Diluted net loss per share utilizes the average market price per share when
applying the treasury stock method in determining common stock equivalents. As of June 30, 2016 and
March 31, 2016, there were no common stock equivalents outstanding.
FAIR VALUE OF FINANCIAL INSTRUMENTS
Pursuant to ASC No. 820, “Fair Value Measurements and Disclosures”, the Company is required to
estimate the fair value of all financial instruments included on its balance sheet as of June 30, 2016. The
Company’s financial instruments consist of cash. The Company considers the carrying value of such
amounts in the financial statements to approximate their fair value due to the short-term nature of these
financial instruments.
9
UA Granite Corporation
Notes to Financial Statements
June 30, 2016
(Unaudited)
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
RECENTLY ISSUED ACCOUNTING STANDARDS
a) Recently Adopted Accounting Standards
In June 2014, ASU guidance was issued to resolve the diversity of practice relating to the
accounting for stock based performance awards that the performance target could be achieved
after the employee completes the required service period. The update is effective prospectively or
retrospectively for annual reporting periods beginning after December 15, 2015. The adoption of
the pronouncement did not have a material effect on the Company’s financial statements.
In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities (Topic 915):
Elimination of Certain Financial Reporting Requirements. The amendments in this Update
remove the definition of a development stage entity from the Master Glossary of the Accounting
Standards Codification, thereby removing the financial reporting distinction between
development stage entities and other reporting entities. In addition, the amendments eliminate the
requirements for development stage entities to (1) present inception-to-date information in the
statements of income, cash flows, and shareholder equity, (2) label the financial statements as
those of a development stage entity, (3) disclose a description of the development stage activities
in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a
development stage entity that in prior years it had been in the development stage. This ASU was
effective for annual periods beginning after December 15, 2014. Early adoption is permitted.
Accordingly, we have elected to adopt ASU No. 2014-10 on April 1, 2015.
b) Recent Accounting Pronouncements
In May 2014, ASU guidance was issued related to revenue from contracts with customers. The
new standard provides a five-step approach to be applied to all contracts with customers and also
requires expanded disclosures about revenue recognition. The ASU is effective for annual
reporting periods beginning after December 15, 2017, including interim periods and is to be
retrospectively applied. Early application is permitted only as of annual reporting periods
beginning after December 15, 2016, including interim reporting periods within that reporting
period. The Company is currently evaluating this guidance and the impact it will have on its
consolidated financial statements.
In January 2015, an ASU was issued to simplify the income statement presentation requirements
in Subtopic 225-20 by eliminating the concept of extraordinary items. Extraordinary items are
events and transactions that are distinguished by their unusual nature and by the infrequency of
their occurrence. Eliminating the extraordinary classification simplifies income statement
presentation by altogether removing the concept of extraordinary items from consideration. This
ASU is effective for annual periods beginning after December 15, 2015, including interim periods
within those annual periods. An entity may apply this ASU prospectively or retrospectively to all
prior periods presented in the financial statements. Early adoption is permitted. The Company
does not expect the amendments in this ASU to have any impact on its financial statements.
10
UA Granite Corporation
Notes to Financial Statements
June 30, 2016
(Unaudited)
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
RECENTLY ISSUED ACCOUNTING STANDARDS - continued
In November 2015, an ASU was issued to simplify the presentation of deferred income taxes.
The amendments in this ASU require that deferred tax liabilities and assets be classified as non-
current in a classified balance sheet as compared to the current requirements to separate deferred
tax liabilities and assets into current and non-current amounts. This ASU is effective for annual
periods beginning after December 15, 2016, including interim periods within those annual
periods. Earlier application is permitted. This ASU may be applied either prospectively to all
deferred tax liabilities and assets or retrospectively to all periods presented. The Company is
currently evaluating this guidance and the impact it will have on its financial statements.
In February 2016, Topic 842, Leases was issued to replace the leases requirements in Topic 840,
Leases. The main difference between previous GAAP and Topic 842 is the recognition of lease
assets and lease liabilities by lessees for those leases classified as operating leases under previous
GAAP. A lessee should recognize in the balance sheet a liability to make lease payments (the
lease liability) and a right-of-use asset representing its right to use the underlying asset for the
lease term. For leases with a term of 12 months or less, a lessee is permitted to make an
accounting policy election by class of underlying asset not to recognize lease assets and lease
liabilities. If a lessee makes this election, it should recognize lease expense for such leases
generally on a straight-line basis over the lease term. The accounting applied by a lessor is
largely unchanged from that applied under previous GAAP. Topic 842 will be effective for
annual reporting periods beginning after December 15, 2018, including interim periods within
those annual periods and is to be retrospectively applied. Earlier application is permitted. The
Company is currently evaluating this guidance and the impact it will have on its financial
statements.
In March 2016, an ASU was issued to reduce complexity in the accounting for employee share-
based payment transactions. One of the simplifications relates to forfeitures of awards. Under
current GAAP, an entity estimates the number of awards for which the requisite service period is
expected to be rendered and base the accruals of compensation cost on the estimated number of
awards that will vest. This ASU permits an entity to make an entity-wide accounting policy
election either to estimate the number of forfeitures expected to occur or to account for forfeitures
in compensation cost when they occur. This ASU is effective for annual periods beginning after
December 15, 2016, including interim periods within those annual periods. Earlier application is
permitted. The Company is currently evaluating this guidance and the impact it will have on its
financial statements.
11
UA Granite Corporation
Notes to Financial Statements
June 30, 2016
(Unaudited)
NOTE 3 -INCOME TAXES
Deferred income taxes arise from temporary differences resulting from income and expense items
reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as
current or non-current, depending on the classification of assets and liabilities to which they
relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are
classified as current or non-current depending on the periods in which the temporary differences are
expected to reverse. The company does not have any uncertain tax positions.
The Company currently has net operating loss carry forwards aggregating $71,442 (2016: $65,095),
which expire through 2030. The deferred tax asset related to the carry forwards has been fully reserved.
The Company has deferred income tax assets, which have been fully reserved, as follows:
June 30,
March 31,
2016
2016
Deferred tax assets
$
24,030 $ 21,607
Valuation allowance for deferred tax assets
(24,030)
(21,607)
Net deferred tax assets
$
- $
-
12
UA Granite Corporation
Notes to Financial Statements
June 30, 2016
(Unaudited)
NOTE 4 – FAIR VALUE MEASUREMENTS
The Company adopted ASC No. 820-10 (ASC 820-10), Fair Value Measurements. ASC 820-10 relates
to financial assets and financial liabilities.
ASC 820-10 defines fair value, establishes a framework for measuring fair value in accounting principles
generally accepted in the United States of America (GAAP), and expands disclosures about fair value
measurements. The provisions of this standard apply to other accounting pronouncements that require or
permit fair value measurements and are to be applied prospectively with limited exceptions.
ASC 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants at the measurement date. This standard is
now the single source in GAAP for the definition of fair value, except for the fair value of leased property
as defined in SFAS 13. ASC 820-10 establishes a fair value hierarchy that distinguishes between
(1) market participant assumptions developed based on market data obtained from independent sources
(observable inputs) and (2) an entity’s own assumptions, about market participant assumptions, that are
developed based on the best information available in the circumstances (unobservable inputs). The fair
value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices
in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs
(Level 3). The three levels of the fair value hierarchy under ASC 820-10 are described below:
•
Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date
for identical, unrestricted assets or liabilities.
•
Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset
or liability, either directly or indirectly, including quoted prices for similar assets or
liabilities in active markets; quoted prices for identical or similar assets or liabilities in
markets that are not active; inputs other than quoted prices that are observable for the
asset or liability (e.g., interest rates); and inputs that are derived principally from or
corroborated by observable market data by correlation or other means.
•
Level 3
Inputs that are both significant to the fair value measurement and unobservable. These
inputs rely on management's own assumptions about the assumptions that market
participants would use in pricing the asset or liability. (The unobservable inputs are
developed based on the best information available in the circumstances and July include
the Company's own data.)
The following presents the Company's fair value hierarchy for those assets and liabilities measured at fair
value on a non-recurring basis as of June 30, 2016 and March 31, 2016:
Level 1: None
Level 2: None
Level 3: None
Total Gain (Losses): None
13
UA Granite Corporation
Notes to Financial Statements
June 30, 2016
(Unaudited)
NOTE 5 - RELATED PARTY TRANSACTIONS
A director has advanced funds to us for our legal, audit, filing fees, general office administration and cash
needs. As of June 30, 2016, the director has advanced a total of $13,703. The advances are without
specific terms of repayment. Imputed interest of $767 and $234 was charged to additional paid in capital
during the three month periods ended June 30, 2016 and 2015, respectively.
A related entity has advanced funds to us for our legal, audit, filing fees, general office administration and
cash needs. As of June 30, 2016, the related entity has advanced a total of $27,569. The advances are
without specific terms of repayment.
An entity related to one of the Company’s directors has provided services in connection with our public
disclosure obligations.
NOTE 6 - COMMON STOCK
On February 14, 2013, the Company issued 5,000,000 common shares to Myroslav Tsapaliuk, the
founder of the Company.
On December 12, 2013, the Company issued 650,000 common shares in a registered offering to
subscribers for total proceeds of $26,001.
As of June 30, 2016, the Company has issued and outstanding, 5,650,000 common shares.
NOTE 7 – SUBSEQUENT EVENTS
The Company has evaluated subsequent events from the balance sheet date through the date the financial
statements were issued and has determined that there are no events to disclose except for the below:
On July 15, 2016, the Company received an advance of $3,500 from a related entity to fund our legal,
audit, filing fees, and general office administration. The advance is without specific terms of repayment.
14
Item 2.
Management's Discussion and Analysis of Financial Condition and Results of
Operations.
This Management’s Discussion and Analysis of Financial Condition and Results of Operations and other
parts of this quarterly report contain forward-looking statements that involve risks and uncertainties.
Forward-looking statements can also be identified by words such as “anticipates,” “expects,” “believes,”
“plans,” “predicts,” and similar terms. Forward-looking statements are not guarantees of future
performance and our actual results may differ significantly from the results discussed in the forward-
looking statements. Factors that might cause such differences include but are not limited to those
discussed in the subsection entitled Forward-Looking Statements and Factors That May Affect Future
Results and Financial Condition below. The following discussion should be read in conjunction with our
financial statements and notes thereto included in this report. Our fiscal year end is March 31. All
information presented herein is based on the three months ended June 30, 2016 and June 30, 2015.
Overview
The Company is currently in the process of evaluating business opportunities and has minimal operating
levels. We can provide no assurance that we will be successful in identifying suitable business
opportunities, or if we are able to identify suitable business opportunities, that we will be able to find an
adequate source of financing to acquire any business or business assets, and commence operations, or that
those operations, if commenced, will be successful in generating profits.
Our Plan of Operation
The Company’s plan of operation over the next twelve months is to identify and acquire a suitable
business opportunity. However, we will not be able to pursue any new business opportunities that we
might identify without additional financing to provide for ongoing operations. Management is actively
seeking new financing to this end while we evaluate potential businesses.
We anticipate that in order to maintain operations while we evaluate new businesses the Company will
need debt or equity funding of at least $50,000 over the next twelve months. Should we be successful in
identifying a new business opportunity the Company will require additional funding to evaluate and
prospectively acquire any given opportunity. The amount of such additional funding will depend on the
business and is not determinable at this time.
Other than shareholder loans, we do not believe that debt financing will be an attractive means of funding
our business development as we do not have tangible assets to secure debt financing. Rather, we
anticipate that future funding will be in the form of shareholder loans and equity financing from the sale
of our common stock. However, we do not currently have any financing arrangements in place and cannot
provide prospective investors with any assurance that we will be able to procure sufficient funding to fund
our plan of operation. Accordingly, we will require continued financial support from our shareholders and
creditors until we are able to generate sufficient net cash flow from active operations on a sustained basis.
Results of Operations
During the three months ended June 30, 2016, the Company (i) sought out prospective business
opportunities; and (ii) satisfied continuous public disclosure requirements.
15
Our operations for the three months ended June 30, 2016 and 2015 are summarized below.
Three months
Three months
ended
ended
June 30, 2016
June 30, 2015
Expenses:
Legal and accounting
$
622 $
1,500
Consulting
1,190
7,069
Administrative
3,768
-
Imputed interest
767
234
Net loss
$
(6,347) $
(8,803)
Net Loss
Net loss for the three months ended June 30, 2016 was $6,347 as compared to net loss of $8,803 for the
three months ended June 30, 2015. The decrease in net losses over the comparable three month periods
ended June 30, 2016, and June 30, 2015, can be primarily attributed to a decrease in professional fees,
offset by an increase in administrative fees.
We did not generate revenue during this period and expect to continue to incur losses over the next twelve
months at a rate comparable to the current quarterly period presented here or until such time as we are
able to conclude the acquisition or development of a new business opportunity that produces net income.
Capital Expenditures
The Company expended no amounts on capital expenditures for the three month periods ended June 30,
2016 and 2015.
Income Tax Expense (Benefit)
The Company has a prospective income tax benefit resulting from a net operating loss carry-forward and
start up costs that will offset any future operating profit.
Impact of Inflation
The Company believes that inflation has had a negligible effect on operations over the past three years.
Liquidity and Capital Resources
Since inception, the Company has experienced significant changes in liquidity, capital resources, and
stockholders’ deficiency.
The Company had current and total assets of $210, consisting solely of cash and a working capital deficit
of $42,148, as of June 30, 2016, as compared to current and total assets of $95, consisting solely of cash
and a working capital deficit of $36,568 as of March 31, 2016. Accumulated deficit was $71,442 at June
30, 2016, as compared to an accumulated deficit of $65,095 at March 31, 2016.
16
Cash Used in Operating Activities
Net cash flow used in operating activities for the three month period ended June 30, 2016 was $3,385 as
compared to $4,016 for the three month period ended June 30, 2015, which differences reflect the
comparative changes in working capital in the current period. Net cash flow used in operating activities in
the prior period can also be primarily attributed to changes in working capital and accounts payable.
Operating activities include but are not limited to, personnel costs, accounting fees and consulting
expenses while changes in working capital include accounts payable and accrued liabilities.
We expect to continue to use net cash flow in operating activities over the next twelve months or until
such time as the Company can generate revenue to offset expenses in order to transition to providing net
cash flow from operations.
Cash Used in Investing Activities
We do expect to use net cash flow in investing activities in connection with the development or
acquisition of a suitable business opportunity in a future period. However, until such time as such
unidentified opportunity is concluded, we do not expect to use net cash flows in investing activities.
Cash Flows from Financing Activities
Cash flow provided by financing activities for the three months ended June 30, 2016, were $3,500 as
compared to $1,500 for the three months ended June 30, 2015. The decrease in cash flow provided from
financing activities over the comparative three month periods can be attributed to the increase in
unsecured loan amounts procured from a related party.
We expect to continue to use cash flows provided by financing activities to procure sufficient funds to
maintain operations in order to seek out suitable business opportunities.
The Company’s current assets are insufficient to conduct its plan of operation over the next twelve (12)
months. We will have to seek at least $50,000 in debt or equity financing over the next twelve months to
maintain operations. The Company has no current commitments or arrangements with respect to, or
immediate sources of this funding. Further, no assurances can be given that funding is available. The
Company’s shareholders are the most likely source of new funding in the form of loans or equity
placements though none have made any commitment for future investment and the Company has no
agreement formal or otherwise. The Company’s inability to obtain sufficient funding to maintain
operations will have a material adverse affect on its ability to fulfill its current plan of operation.
The Company does not intend to pay cash dividends in the foreseeable future.
The Company had no lines of credit or other bank financing arrangements as of June 30, 2016.
The Company had no commitments for future capital expenditures that were material at June 30, 2016.
The Company has no defined benefit plan or contractual commitment with any of its officers or directors.
The Company has no current plans for the purchase or sale of any plant or equipment.
The Company has no current plans to make any changes in the number of employees.
17
Off-Balance Sheet Arrangements
As of June 30, 2016, we have no significant off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on our financial condition, changes in financial condition,
revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources that are
material to stockholders.
Future Financings
We anticipate continuing to rely on debt or equity sales of our shares of common stock in order to
continue to fund our business operations. There is no assurance that we will achieve any additional sales
of our equity securities or arrange for debt or other financing to fund our plan of operations.
Critical Accounting Policies
In Note 2 to the audited financial statements for the years ended March 31, 2016 and 2015, included in
our Form 10-K, the Company discusses those accounting policies that are considered to be significant in
determining the results of operations and its financial position. The Company believes that the
accounting principles utilized by it conform to US GAAP.
The preparation of financial statements requires Company management to make significant estimates and
judgments that affect the reported amounts of assets, liabilities, revenues and expenses. By their nature,
these judgments are subject to an inherent degree of uncertainty. On an on-going basis, the Company
evaluates estimates. The Company bases its estimates on historical experience and other facts and
circumstances that are believed to be reasonable, and the results form the basis for making judgments
about the carrying value of assets and liabilities. The actual results may differ from these estimates under
different assumptions or conditions.
Going Concern
The Company’s auditors have expressed an opinion as to the Company’s ability to continue as a going
concern as a result of an accumulated deficit of $71,442 since inception and negative cash flows from
operating activities during the period ended June 30, 2016. The Company’s ability to continue as a going
concern is subject to the ability of the Company to obtain funding. Management’s plan to address the
Company’s ability to continue as a going concern includes obtaining funding from the private placement
of equity or through debt financing. Management believes that it will be able to obtain funding to allow
the Company to remain a going concern through the methods discussed above, though there can be no
assurances that such methods will prove successful.
Forward-Looking Statements and Factors That May Affect Future Results and Financial Condition
The statements contained in the section titled Management’s Discussion and Analysis of Financial
Condition and Results of Operations and elsewhere in this current report, with the exception of historical
facts, are forward-looking statements. Forward-looking statements reflect our current expectations and
beliefs regarding our future results of operations, performance, and achievements. These statements are
subject to risks and uncertainties and are based upon assumptions and beliefs that may or may not
materialize. These statements include, but are not limited to, statements concerning:
18
§ our anticipated financial performance and business plan;
§ the sufficiency of existing capital resources;
§ our ability to raise capital to fund cash requirements for future operations;
§ uncertainties related to the Company’s future business prospects;
§ the volatility of the stock market and;
§ general economic conditions.
We wish to caution readers that our operating results are subject to various risks and uncertainties that
could cause our actual results to differ materially from those discussed or anticipated. We also wish to
advise readers not to place any undue reliance on the forward-looking statements contained in this report,
which reflect our beliefs and expectations only as of the date of this report. We assume no obligation to
update or revise these forward-looking statements to reflect new events or circumstances or any changes
in our beliefs or expectations, other than as required by law.
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Not required for smaller reporting companies.
Item 4.
Controls and Procedures
Disclosure Controls and Procedures
In connection with the preparation of this quarterly report, an evaluation was carried out by the
Company’s management, with the participation of the chief executive officer and the acting chief
financial officer, of the effectiveness of the Company’s disclosure controls and procedures (as defined in
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (“Exchange Act”)) as of June
30, 2016. Disclosure controls and procedures are designed to ensure that information required to be
disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and
reported within the time periods specified in the Commission’s rules and forms, and that such information
is accumulated and communicated to management, including the chief executive officer and the chief
financial officer, to allow timely decisions regarding required disclosures.
Based on that evaluation, the Company’s management concluded, as of the end of the period covered by
this report, that the Company’s disclosure controls and procedures were ineffective in recording,
processing, summarizing, and reporting information required to be disclosed, within the time periods
specified in the Commission’s rules and forms, and such information was not accumulated and
communicated to management, including the chief executive officer and the chief financial officer, to
allow timely decisions regarding required disclosures.
Changes in Internal Control over Financial Reporting
There have been no changes in internal control over financial reporting (as defined in Rule 13a-15(f) of
the Exchange Act) during the quarter ended June 30, 2016, that materially affected, or are reasonably
likely to materially affect, the Company’s internal control over financial reporting.
19
PART II
Item 1.
Legal Proceedings.
None.
Item 1A.
Risk Factors
Not required.
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
None.
Item 3.
Defaults Upon Senior Securities
None.
Item 4.
Mine Safety Disclosures
Not applicable.
Item 5.
Other Information
None.
Item 6.
Exhibits
Exhibits required to be attached by Item 601 of Regulation S-K are listed in the Index to Exhibits on page
22 of this Form 10-Q, and are incorporated herein by this reference.
20
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned thereunto duly authorized.
UA GRANITE CORPORATION
By: /s/ Myroslav Tsapaliuk
Myroslav Tsapaliuk, Chief Executive Officer,
Chief Financial Officer and Principal
Accounting Officer
Date: August 23, 2016
21
INDEX TO EXHIBITS
Exhibit
Description
3.1.*
Articles of Incorporation (incorporated by reference to the Company’s Form S-1 filed
with the Commission on June 18, 2013).
3.2*
Bylaws (incorporated by reference to the Company’s Form S-1 filed with the
Commission on June 18, 2013).
31
Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule
13a-14 of the Securities and Exchange Act of 1934, as amended, as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
32
Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18
U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
101. INS
XBRL Instance Document†
101. PRE
XBRL Taxonomy Extension Presentation Linkbase†
101. LAB
XBRL Taxonomy Extension Label Linkbase†
101. DEF
XBRL Taxonomy Extension Label Linkbase†
101. CAL
XBRL Taxonomy Extension Label Linkbase†
101. SCH
XBRL Taxonomy Extension Schema†
*
Incorporated by reference to previous filings of the Company.
†
Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed
“furnished” and not “filed” or part of a registration statement or prospectus for purposes
of Section 11 or 12 of the Securities Act of 1933, or deemed “furnished” and not “filed”
for purposes of Section 18 of the Securities and Exchange Act of 1934, and otherwise is
not subject to liability under these sections.
22
