Vortex Blockchain (VXBT) 10-Q 12 Feb 14 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2013	Feb. 01, 2014
Document And Entity Information	'	'
Entity Registrant Name	'UA Granite Corp	'
Entity Central Index Key	'0001577882	'
Document Type	'10-Q	'
Document Period End Date	31-Dec-13	'
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	'	5,650,000
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'

Balance_Sheets_Unaudited

Balance Sheets (Unaudited) (USD $)	Dec. 31, 2013	Mar. 31, 2013
Current Assets	'	'
Cash	$23,244	$4,982
Total Assets	23,244	4,982
Current Liabilities	'	'
Accounts Payable and Accrued Liabilities	2,000	2,000
Due to Directors	5,123	5,123
Total Liabilities	7,123	7,123
Stockholders' Equity (Deficit)	'	'
Common Stock (75,000,000 shares authorized, par value 0.00001, 5,650,000 and 5,000,000 shares issued and outstanding at December 31, 2013 and March 31, 2013, respectively)	57	50
Additional Paid in Capital	26,296	'
Deficit accumulated during the development stage	-10,232	-2,191
Total Stockholders' Equity (Deficit)	16,121	-2,141
Total Liabilities and Stockholders' Equity (Deficit)	$23,244	$4,982

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Mar. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common Stock shares authorized	75,000,000	75,000,000
Common Stock par value	$0.00	$0.00
Common Stock shares issued	5,650,000	5,000,000
Common Stock shares outstanding	5,650,000	5,000,000

Statements_of_Operations_Unaud

Statements of Operations (Unaudited) (USD $)	3 Months Ended	9 Months Ended	10 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
Operating Expenses	'	'	'
Legal and accounting	$6,000	$7,700	$9,700
General and administrative	22	38	229
Total Operating Expenses	6,022	7,738	9,929
Other Expense	'	'	'
Imputed interest expense	102	303	303
Net Loss	($6,124)	($8,041)	($10,232)
Net Loss Per Common Share – Basic and Diluted	$0	$0	'
Weighted Average Number of Common Shares Outstanding	5,134,239	5,044,909	'

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended	10 Months Ended
	Dec. 31, 2013	Dec. 31, 2013
Operating Activities	'	'
Net loss	($8,041)	($10,232)
Adjustment to reconcile net loss to net cash used by operating activities:	'	'
Imputed interest	303	303
Changes in operating assets and liabilities:	'	'
Accounts payable and accrued liabilities	'	2,000
Net Cash Used in Operating Activities	-7,738	-7,929
Financing Activities	'	'
Proceeds from directors	'	5,123
Proceeds from issuance of common shares	26,000	26,050
Net Cash Provided by Financing Activities	26,000	31,173
Increase (Decrease) in Cash	18,262	23,244
Cash - Beginning of Period	4,982	'
Cash - End of Period	23,244	23,244
Supplemental Disclosure of Cash Flow Information	'	'
Interest	'	'
Income taxes	'	'

Shareholders_Equity_Unaudited

Shareholders Equity (Unaudited) (USD $)	Common Stock	Additional Paid-in Capital	Deficit Accumulated During the Development Stage	Total
Beginning Balance, Amount at Feb. 14, 2013	'	'	'	'
Issuance of founder’s share Shares	5,000,000	'	'	'
Issuance of founder’s share Amounts	$50	'	'	$50
Net loss Shares	'	'	-2,191	-2,191
Net loss Amounts	'	'	-2,191	-2,191
Ending Balance, Amount at Mar. 31, 2013	50	'	-2,191	-2,141
Ending Balance, Shares at Mar. 31, 2013	5,000,000	'	'	'
Issuance of founder’s share Shares	650,000	'	'	'
Issuance of founder’s share Amounts	7	25,993	'	26,000
Net loss Shares	'	'	-8,041	-8,041
Net loss Amounts	'	'	-8,041	-8,041
Imputed interest Shares	'	'	'	'
Imputed interest Amounts	'	303	'	303
Ending Balance, Amount at Dec. 31, 2013	$57	$26,296	($10,232)	$16,121
Ending Balance, Shares at Dec. 31, 2013	5,650,000	'	'	'

NATURE_OF_OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Dec. 31, 2013
Notes to Financial Statements	'
NATURE OF OPERATIONS	'
	DESCRIPTION OF BUSINESS AND HISTORY
	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 UA Granite Corporation 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 UA Granite Corporation be unable to continue as a going concern.  As at December 31, 2013 UA Granite Corporation has a working capital deficiency, has not generated revenues and has accumulated losses of $10,232 since inception.  The continuation of UA Granite Corporation as a going concern is dependent upon the continued financial support from its shareholders, the ability of UA Granite Corporation to obtain necessary equity financing to continue operations, and the attainment of profitable operations.  These factors raise substantial doubt regarding the UA Granite Corporation’ ability to continue as a going concern.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
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 July 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.
	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 December 31, 2013 or March 31, 2013.
	DEVELOPMENT STAGE ENTITY – The Company complies with FASB guidelines for its description as a development stage company.
	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 consolidated 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 December 31, 2013 and March 31, 2013, 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 December 31, 2013. 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.
	RECENTLY ISSUED ACCOUNTING STANDARDS - In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:
	-          Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and
	-          Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense.
	The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected to have a material impact on our financial position or results of operations.
	-          accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense.
	The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected to have a material impact on our financial position or results of operations.
	In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs. Like ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
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 carryforwards aggregating $10,232, which expire through 2030. The deferred tax asset related to the carryforwards has been fully reserved.
	The Company has deferred income tax assets, which have been fully reserved, as follows as of December 31, 2013:
			2013
	Deferred tax assets	$	3,581
	Valuation allowance for deferred tax assets		-3,581
	Net deferred tax assets	$	-

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
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 December 31, 2013 and March 31, 2013:
	Level 1: None
	Level 2: None
	Level 3: None
	Total Gain (Losses): None

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Dec. 31, 2013
Notes to Financial Statements	'
RELATED PARTY TRANSACTIONS	'
	A director has advanced funds to us for our legal, audit, filing fees, general office administration and cash needs. As of December 31, 2013, the director has advanced a total of $5,123. The advances do not bear interest and are without specific terms of repayment. Imputed interest of $303 was charged to additional paid in capital during the nine months ended December 31, 2013.

COMMON_STOCK

COMMON STOCK	9 Months Ended
	Dec. 31, 2013
Notes to Financial Statements	'
COMMON STOCK	'
	On February 14, 2013, the Company issued 5,000,000 common shares to the founder of the Company. Imputed interest of $303 was charged to additional paid in capital during the nine months ended December 31, 2013 for related party borrowings.
	On December 12, 2013, the Company issued 650,000 common shares for total proceeds of $26,000.
	As of December 31, 2013, UA Granite Corporation has issued 5,650,000 common shares.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	9 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENT	'
	There are no subsequent events to report.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
BASIS OF PRESENTATION	'
	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	'
	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 July 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.
CASH AND CASH EQUIVALENTS	'
	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 December 31, 2013 or March 31, 2013.
DEVELOPMENT STAGE ENTITY	'
	DEVELOPMENT STAGE ENTITY – The Company complies with FASB guidelines for its description as a development stage company.
INCOME TAXES	'
	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 consolidated 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	'
	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 December 31, 2013 and March 31, 2013, there were no common stock equivalents outstanding.
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
	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 December 31, 2013. 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.
RECENTLY ISSUED ACCOUNTING STANDARDS	'
	RECENTLY ISSUED ACCOUNTING STANDARDS - In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:

INCOME_TAXES_Tables

INCOME TAXES (Tables)	9 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Deferred income tax assets	'
		2013
	Deferred tax assets	$	3,581
	Valuation allowance for deferred tax assets		(3,581	)
	Net deferred tax assets	$	—

NATURE_OF_OPERATIONS_Details_N

NATURE OF OPERATIONS (Details Narrative) (USD $)	11 Months Ended
	Dec. 31, 2013
Notes to Financial Statements	'
Accumulated loss	$10,232

INCOME_TAXES_Details_Narrative

INCOME TAXES (Details Narrative) (USD $)	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Net operating loss	$10,232

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	Dec. 31, 2013
Notes to Financial Statements	'
Total advanced	$5,123
Imputed interest	$303

COMMON_STOCK_Details_Narrative

COMMON STOCK (Details Narrative) (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 12, 2013	Feb. 14, 2013
Notes to Financial Statements	'	'	'
Common shares issued to the founder	'	'	5,000,000
Imputed interest	$303	'	'
Common shares issued	'	650,000	'
Total proceeds	'	$26,000	'
Common shares issued	5,650,000	'	'