GL Brands (GRLB) 10-Q 24 Jan 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 31, 2013
Document And Entity Information	'
Entity Registrant Name	'Arkadia International
Entity Central Index Key	'0001581545
Document Type	'10-Q
Document Period End Date	31-Dec-13
Amendment Flag	'false
Current Fiscal Year End Date	'--06-30
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	7,500,000
Document Fiscal Period Focus	'Q2
Document Fiscal Year Focus	'2014

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2013	Jun. 30, 2013
Current assets:	'	'
Cash and cash equivalents	$85,801	$59,646
Total assets	85,801	59,646
Net increase in Current Liabilities	'	'
Due to related party	'	10,700
Total liabilities	'	10,700
Stockholders Equity:	'	'
Common stock, $0.001 par value; 75,000,000 shares authorized; 7,500,000 shares issued and outstanding	96,996	96,996
Additional paid in capital	'	'
Deficit accumulated during development stage	-29,395	'
Net income	18,200	-48,050
Total liabilities and stockholders equity	$85,801	$59,646

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Statement of Financial Position [Abstract]	'	'
Common stock; par value	$0.00	$0.00
Common Stock; shares authorized	75,000,000	75,000,000
Common stock; shares issued	7,500,000	7,500,000
Common stock; shares outstanding	7,500,000	7,500,000

Statements_of_Operations

Statements of Operations (USD $)	6 Months Ended	10 Months Ended
	Dec. 31, 2013	Dec. 31, 2013
Income Statement [Abstract]	'	'
Revenue	$272,156	$484,146
Less Cost of Goods Sold:	'	'
Autos & Parts	121,732	290,634
Hockey Equipment	43,654	43,654
Title Registration	550	550
Shipping	37,808	94,846
Sales Commissions	2,500	2,500
Total Cost of Goods	206,244	432,184
Gross Profit	65,912	98,666
Less Operating expenses:	'	'
Contract Service	0	69,501
General and administrative	0	1,343
Insurance	0	4,970
Professional fees	28,725	32,725
Service and Bank fees	332	1,332
Total operating expenses	29,057	109,861
Net profit (loss) from operation before income taxes	36,855	-11,195
Net profit (Loss)	$36,855	($11,195)
Loss per common share	$0	$0
Shares oustanding	7,500,000	7,500,000

Statements_of_Stockholders_Equ

Statements of Stockholders Equity (USD $)	Common Stock	Additional Paid-In Capital	Deficit Accumulated During the Development Stage	Total
Beginning Balance, Amount at Feb. 20, 2013	$0	$0	$0	$0
Beginning Balance, Shares at Feb. 20, 2013	0	'	'	'
Sale of common stock, Shares	549,900	'	'	'
Sale of common stock, Amount	550	26,945	'	27,495
Share - based compensation, Shares	6,950,100	'	'	'
Share - based compensation, Amount	6,950	62,551	'	69,501
Net income (loss)	'	'	'	-48,050
Ending Balance, Amount at Jun. 30, 2013	7,500	89,496	-48,050	48,946
Ending Balance, Shares at Jun. 30, 2013	7,500,000	'	'	'
Net income (loss)	'	'	18,655	18,655
Ending Balance, Amount at Sep. 30, 2013	7,500	89,496	-29,395	-67,601
Ending Balance, Shares at Sep. 30, 2013	7,500,000	'	'	'
Net income (loss)	'	'	18,200	18,200
Ending Balance, Amount at Dec. 31, 2013	$7,500	$89,496	($11,195)	$85,801
Ending Balance, Shares at Dec. 31, 2013	7,500,000	'	'	'

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	6 Months Ended	10 Months Ended
	Dec. 31, 2013	Dec. 31, 2013
Cash flows from operating activities:	'	'
Net income (loss)	$36,855	($11,195)
Payment of loan	-10,700	'
Net increase in Capital Stock	'	'
Proceeds from Sale of Common Stock	'	96,996
Increase (decrease) in cash	26,155	85,801
Cash and cash equivalents, beginning of period	59,646	'
Cash and cash equivalents, end of period	$85,801	$85,801

Description_of_Business

Description of Business	6 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Description of Business	'
	NOTE 1 – DESCRIPTION OF BUSINESS
	Arkadia International, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on February 21, 2013 the primary operations of the business will be the acquisition of in demand equipment, cars, goods with the intent to resale these in US territory or export to overseas countries.
	The Company provides this service for individuals, retail customers as well as companies The Company is a development-stage enterprise company and its planned principal activities are to provide export cars and parts out of US territory.
	As a development-stage, the Company had limited operating revenues through December 31, 2013. Recorded revenues were generated from customers’ payments and commissions earned through contracted services.
	The Company is currently devoting substantially all of its present efforts to securing and establishing a new business.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The financial statements have been prepared to comply with accounting principles generally accepted in the United States of America. These principles require management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates.
	Accounting Basis
	The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has adopted a June 30 fiscal year end.
	Revenue recognition
	The Company considered recognizes its revenue on the accrual basis, which considers revenue to be earned when the services have been performed. Revenues are recognized when the risks and rewards of ownership have passed to the customer, based on the terms of sale. We considered gross revenue as a principal. Our revenue includes the amounts related to the sale of cars and commissions earned.
	In accordance with ASC 605-45, the following indicators may support recording revenue on a gross basis:
	The company is the primary responsible in the arrangement.
	When we sell cars to our customers, there are contracts between our customers and us. Here are no other a separate contracts between our customers and shipping company, or between our customers and third-party service providers. Our customer is not a party to our contract with the third-party service provider or our contract with shipping company. Even though the shipping company is responsible for delivery containers for our customers in real we also act as a guarantor and responsible for delivery.
	Our costumers are not involved in the communication between us and shipping company or third-party service providers. As discussed in greater detail in our prior response, we could be held contractually obligated to perform the services.
	The company has general inventory risk—before customer order is placed or upon customer return.
	We do not place an order for shipping company or third-party services until after our customer places an order with us and, generally, we do not accept returns of these arrangements. As a result, we have no inventory risk. This factor indicated that we should report revenue on a gross basis.
	The company has the freedom to determine the selling price.
	We have discretion in establishing the sales price in these arrangements, which indicated that we should report revenue on a gross basis.
	The risk of non payment.
	When a customer places an order that include involving third-party services provider we collect payments upfront for cover our expenses. This is an indicator that revenue for the sale of other services should be reported on a gross basis.
	Participation in the selection and determining the proper vehicle for the costumers needs.
	All the time we are not only take orders but also assistance in selecting cars, advise and find the best option for our costumers. This involvement suggested that we should report revenue on a gross basis.
	Physical loss after customer order or during shipping.
	We concluded that this indicator was not applicable to the third-party services.
	Credit risk.
	We don’t have the credit risk because we collect payments before shipping which indicated that we should report revenue on a gross basis.
	Given the above we considerate recording revenue at gross. That means that we record all of the revenue from a sale transaction on our Statement of Operations.
	Cash equivalents
	The Company considers all highly liquid instruments and tries to work on a prepaid purchased with maturity of three months or less from the time of purchase to be cash equivalents. The Company's bank accounts are deposited in insured institutions.
	Income Taxes
	Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the recorded book basis and tax basis of assets and liabilities for financial and income tax reporting. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settle.

Common_Stock_Issued_for_Servic

Common Stock Issued for Services	6 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Common Stock Issued for Services	'
	NOTE 3 – COMMON STOCK ISSUED FOR SERVICES
	The Company reflects certain non-cash charges associated with common stock issued and rendered for services to the Company’s founders $69,501.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Fair Value of Financial Instruments	'
	NOTE 4 – FAIR VALUE OF FINANCIAL INSTRUMENTS
	The carrying amounts of cash and cash equivalents approximate their fair values due to their short-term nature.

Concentration_of_Credit_Risk

Concentration of Credit Risk	6 Months Ended
	Dec. 31, 2013
Risks and Uncertainties [Abstract]	'
Concentration of Credit Risk	'
	NOTE 5 – CONCENTRATION OF CREDIT RISK
	The Company maintains cash balances at a Wells Fargo financial institution. The balance, at any given time, may exceed Federal Deposit Insurance Corporation (“FDIC”) insurance limits of $250,000 per institution. The Company’s cash balances at December 31, 2013 were within FDIC insured limits.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	NOTE 6 – COMMITMENTS AND CONTINGENCIES
	From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of its business. The Company is not currently a party to any material legal proceedings, nor is the Company aware of any other pending or threatened litigation that would have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably.

Stockholders_Equity

Stockholders Equity	6 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Stockholders Equity	'
	NOTE 7 – STOCKHOLDERS’ EQUITY
	From the Company’s inception on February 21, 2013 through December 31, 2013, the Company has issued 7,500,000 shares of common stock, inclusive of 6,950,100 shares issued to the Company founders .The financial statements include a non-cash compensation charge of $69,501 representing the difference between the market price of the shares and the price paid by the founders.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Accounting Basis	'
	Accounting Basis
	The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has adopted a June 30 fiscal year end.
Revenue recognition	'
	Revenue recognition
	The Company considered recognizes its revenue on the accrual basis, which considers revenue to be earned when the services have been performed. Revenues are recognized when the risks and rewards of ownership have passed to the customer, based on the terms of sale. We considered gross revenue as a principal. Our revenue includes the amounts related to the sale of cars and commissions earned.
	In accordance with ASC 605-45, the following indicators may support recording revenue on a gross basis:
	The company is the primary responsible in the arrangement.
	When we sell cars to our customers, there are contracts between our customers and us. Here are no other a separate contracts between our customers and shipping company, or between our customers and third-party service providers. Our customer is not a party to our contract with the third-party service provider or our contract with shipping company. Even though the shipping company is responsible for delivery containers for our customers in real we also act as a guarantor and responsible for delivery.
	Our costumers are not involved in the communication between us and shipping company or third-party service providers. As discussed in greater detail in our prior response, we could be held contractually obligated to perform the services.
	The company has general inventory risk—before customer order is placed or upon customer return.
	We do not place an order for shipping company or third-party services until after our customer places an order with us and, generally, we do not accept returns of these arrangements. As a result, we have no inventory risk. This factor indicated that we should report revenue on a gross basis.
	The company has the freedom to determine the selling price.
	We have discretion in establishing the sales price in these arrangements, which indicated that we should report revenue on a gross basis.
	The risk of non payment.
	When a customer places an order that include involving third-party services provider we collect payments upfront for cover our expenses. This is an indicator that revenue for the sale of other services should be reported on a gross basis.
	Participation in the selection and determining the proper vehicle for the costumers needs.
	All the time we are not only take orders but also assistance in selecting cars, advise and find the best option for our costumers. This involvement suggested that we should report revenue on a gross basis.
	Physical loss after customer order or during shipping.
	We concluded that this indicator was not applicable to the third-party services.
	Credit risk.
	We don’t have the credit risk because we collect payments before shipping which indicated that we should report revenue on a gross basis.
	Given the above we considerate recording revenue at gross. That means that we record all of the revenue from a sale transaction on our Statement of Operations.
Cash equivalents	'
	Cash equivalents
	The Company considers all highly liquid instruments and tries to work on a prepaid purchased with maturity of three months or less from the time of purchase to be cash equivalents. The Company's bank accounts are deposited in insured institutions.
Income Taxes	'
	Income Taxes
	Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the recorded book basis and tax basis of assets and liabilities for financial and income tax reporting. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settle.

Common_Stock_Issued_for_Servic1

Common Stock Issued for Services (Details Narrative) (USD $)	6 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Common stock issued for services	$69,501

Concentration_of_Credit_Risk_D

Concentration of Credit Risk (Details Narrative) (USD $)	Dec. 31, 2013
Risks and Uncertainties [Abstract]	'
Federal Deposit Insurance Corporation insurance limit	$250,000

Stockholders_Equity_Details_Na

Stockholders Equity (Details Narrative) (USD $)	10 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Common Stock issued	7,500,000
Common stock issued to Company founders	6,950,100
Non-cash compensation charge	$69,501