Document and Entity Information
Document and Entity Information | 6 Months Ended |
Dec. 31, 2015USD ($)shares | |
Document and Entity Information: | |
Entity Registrant Name | Active With Me Inc. |
Document Type | 10-Q |
Document Period End Date | Dec. 31, 2015 |
Trading Symbol | awmi |
Amendment Flag | false |
Entity Central Index Key | 1,582,249 |
Current Fiscal Year End Date | --06-30 |
Entity Common Stock, Shares Outstanding | shares | 3,305,000 |
Entity Public Float | $ | $ 3,305 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q2 |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited for December 31, 2015) - USD ($) | Dec. 31, 2015 | Jun. 30, 2015 |
Current assets | ||
Cash | $ 134 | $ 35 |
Total current assets | 134 | 35 |
Other assets | 350 | 350 |
Total assets | 484 | 385 |
Current liabilities | ||
Accounts payable | 6,506 | 4,201 |
Loan payable to officer and shareholder | 10,236 | 7,236 |
Current liabilities | 16,742 | 11,437 |
Total liabilities | 16,742 | 11,437 |
Stockholders' deficit | ||
Preferred stock | 0 | 0 |
Common stock | 3,305 | 3,305 |
Additional paid in capital | 47,795 | 47,795 |
Accumulated deficit | (67,358) | (62,152) |
Stockholders' deficit | (16,258) | (11,052) |
Total liabilities and stockholders' deficit | $ 484 | $ 385 |
Statement of Financial Position
Statement of Financial Position - Parenthetical - $ / shares | Dec. 31, 2015 | Jun. 30, 2015 |
Statement of Financial Position | ||
Preferred Stock, Par Value | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 65,000,000 | 65,000,000 |
Common Stock, Shares Issued | 3,305,000 | 3,305,000 |
Common Stock, Shares Outstanding | 3,305,000 | 3,305,000 |
CONDENSED STATEMENT OF OPERATIO
CONDENSED STATEMENT OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating expenses: | ||||
General and administrative | $ 4,231 | $ 3,672 | $ 5,206 | $ 7,102 |
Total operating expenses | 4,231 | 3,672 | 5,206 | 7,102 |
Loss from operations | (4,231) | (3,672) | (5,206) | (7,102) |
Net loss | $ (4,231) | $ (3,672) | $ (5,206) | $ (7,102) |
Basic and Diluted Loss Per Share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average common shares outstanding - basic and diluted | 3,305,000 | 3,305,000 | 3,305,000 | 3,305,000 |
CONDENSED STATEMENT OF CASH FLO
CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) | 6 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | ||
Net loss | $ (5,206) | $ (7,102) |
Changes in operating assets and liabilities: | ||
Accounts payable (increase/decrease) | 2,305 | (375) |
Net cash used in operating activities | (2,901) | (7,477) |
Financing activities: | ||
Proceeds from loan payable to officer and shareholder | 3,000 | 2,000 |
Net cash provided by financing activities | 3,000 | 2,000 |
Net increase (decrease) in cash and cash equivalents | 99 | (5,477) |
Cash, beginning of period | 35 | 6,335 |
Cash, end of period | 134 | 858 |
Supplemental Disclosure of Cash Flow Information: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | $ 0 | $ 0 |
Note 1 Nature of Business
Note 1 Nature of Business | 6 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 1 Nature of Business | Note 1 Nature of Business Business Overview Active With Me, Inc., (the Company), was incorporated in the State of Nevada on December 6, 2012 to create a web-based service that will offer travelers unique, relevant and user-friendly information on activity-based travel. Listings will be provided for product and service providers of interest to the activity-based traveler. The Company intends to maximize listings on the website, increase the value to the consumer, and provide potential advertisers with an ability to inexpensively feature their services to a very wide and targeted audience. |
Note 2 Summary of Significant A
Note 2 Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 2 Summary of Significant Accounting Policies | Note 2 Summary of Significant Accounting Policies Cash Cash equivalents includes highly liquid short-term investments, with original maturities of three months or less. At December 31, 2015, the company had no cash equivalents. Concentration of Risk As of December 31, 2015, the Company maintained its cash account at one commercial bank. The cash balance at December 31, 2015, was within the FDIC coverage of deposits totaling $250,000 per owner. Risks and Uncertainties The Company intends to operate in an industry that is subject to rapid change. The Companys operations will be subject to significant risk and uncertainties including financial, operational, technological, regulatory, and other risks associated with a development stage company, including the potential risk of business failure. Use of Estimates Our management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these unaudited financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could be different from their estimates. Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. As of December 31, 2015, there were no common equivalent shares. Research and Development Costs The Company expenses research and development costs as incurred. |
Note 3 Going Concern
Note 3 Going Concern | 6 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 3 Going Concern | Note 3 Going Concern The accompanying unaudited condensed interim financial statements have been prepared on a going concern basis, which assumes the Company will realize its assets and discharge its liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company has an accumulated deficit of $67,358 as of . The Companys ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Managements plans include obtaining additional funds by equity financing through a reverse merger transaction and/or related party advances; however there is no assurance of additional funding being available. These conditions raise substantial doubt about the Companys ability to continue as a going concern. The accompanying condensed unaudited financial statements do not include any adjustments that might arise as a result of this uncertainty. |
Note 4 Loan Payable To Officer
Note 4 Loan Payable To Officer and Shareholder | 6 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 4 Loan Payable To Officer and Shareholder | Note 4 Loan Payable to Officer and Shareholder As of June 30, 2015, the loan from the Companys sole Director, President and shareholder totaled $7,236 , which such proceeds were utilized to pay for the operating expenses of the Company through the year ended June 30, 2015. As of December 31, 2015, the Company received an additional $3,000 loan from another shareholder. Such proceeds were utilized to pay for operational expenses of the Company. The loans are not secured, are due on demand and are expected to be repaid from future proceeds received by the Company. The balance of the loan payable to officer and shareholder in aggregate are $10,236 and $7,236 , as of December 31, 2015 and June 30, 2015, respectively. As of December 31, 2015 and to the date the financial statements are ready to be issued, there is no demand from Officer and shareholder to repay the loans. |
Note 5 Stockholders' Deficit
Note 5 Stockholders' Deficit | 6 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 5 Stockholders' Deficit | Note 5 Stockholders Deficit Authorized Shares The Companys Articles of Incorporation authorize the issuance of up to 10,000,000 shares of $0.001 par value preferred stock. As of December 31, 2015 there was no preferred stock outstanding. The Companys Articles of Incorporation authorize the issuance of up to 65,000,000 shares of $0.001 par value common stock. As of December 31, 2015 and June 30, 2015, there were 3,305,000, shares of $0.001 par value common stock issued and outstanding. Issued and Outstanding Shares Since inception, the Company issued 1,500,000 shares of its $.001 par value common stock to its Director, Chief Executive Officer, and President for cash in the amount of $15,000. There were no shares issued during the three months ended December 31, 2015. Since inception, the Company issued 1,805,000 shares of its $.001 par value common stock for cash in the amount of $36,100 to 35 individual accredited investors. There were no shares issued during the three months ended December 31, 2015. |
Note 6 Recent Accounting Pronou
Note 6 Recent Accounting Pronouncements | 6 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 6 Recent Accounting Pronouncements | Note 6 Recent Accounting Pronouncements On June 10, 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915). The amendments in this update remove the definition of a development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows, and shareholders 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. Early adoption is permitted. The Company adopted ASU 2014-10 since the quarter ended September 30, 2014, thereby no longer presenting or disclosing any information required by Topic 915. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entitys Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15, which is effective for annual reporting periods ending after December 15, 2016, extends the responsibility for performing the going-concern assessment to management and contains guidance on how to perform a going-concern assessment and when going-concern disclosures would be required under U.S. GAAP. The Company elected to adopt ASU 2014-15 effective with this financial statement. Managements evaluations regarding the events and conditions that raise substantial doubt regarding the Companys ability to continue as a going concern have been disclosed in this Note 3 Going Concern. |
Note 1 Nature of Business_ Busi
Note 1 Nature of Business: Business Overview (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Policies | |
Business Overview | Business Overview Active With Me, Inc., (the Company), was incorporated in the State of Nevada on December 6, 2012 to create a web-based service that will offer travelers unique, relevant and user-friendly information on activity-based travel. Listings will be provided for product and service providers of interest to the activity-based traveler. The Company intends to maximize listings on the website, increase the value to the consumer, and provide potential advertisers with an ability to inexpensively feature their services to a very wide and targeted audience. |
Note 2 Summary of Significant13
Note 2 Summary of Significant Accounting Policies: Cash (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Policies | |
Cash | Cash Cash equivalents includes highly liquid short-term investments, with original maturities of three months or less. At December 31, 2015, the company had no cash equivalents. |
Note 2 Summary of Significant14
Note 2 Summary of Significant Accounting Policies: Concentration of Risk (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Policies | |
Concentration of Risk | Concentration of Risk As of December 31, 2015, the Company maintained its cash account at one commercial bank. The cash balance at December 31, 2015, was within the FDIC coverage of deposits totaling $250,000 per owner. |
Note 2 Summary of Significant15
Note 2 Summary of Significant Accounting Policies: Risks and Uncertainties (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Policies | |
Risks and Uncertainties | Risks and Uncertainties The Company intends to operate in an industry that is subject to rapid change. The Companys operations will be subject to significant risk and uncertainties including financial, operational, technological, regulatory, and other risks associated with a development stage company, including the potential risk of business failure. |
Note 2 Summary of Significant16
Note 2 Summary of Significant Accounting Policies: Use of Estimates (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Policies | |
Use of Estimates | Use of Estimates Our management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these unaudited financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could be different from their estimates. |
Note 2 Summary of Significant17
Note 2 Summary of Significant Accounting Policies: Net Loss Per Share (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Policies | |
Net Loss Per Share | Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. As of December 31, 2015, there were no common equivalent shares. |
Note 2 Summary of Significant18
Note 2 Summary of Significant Accounting Policies: Research and Development Costs (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Policies | |
Research and Development Costs | Research and Development Costs The Company expenses research and development costs as incurred. |
Note 3 Going Concern (Details)
Note 3 Going Concern (Details) - USD ($) | Dec. 31, 2015 | Jun. 30, 2015 |
Details | ||
Accumulated deficit | $ 67,358 | $ 62,152 |
Note 4 Loan Payable To Office20
Note 4 Loan Payable To Officer and Shareholder (Details) - USD ($) | 6 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2015 | |
Details | |||
Loan payable to officer and shareholder | $ 10,236 | $ 7,236 | |
Proceeds from loan payable to officer and shareholder | $ 3,000 | $ 2,000 |
Note 5 Stockholders' Deficit (D
Note 5 Stockholders' Deficit (Details) - $ / shares | Dec. 31, 2015 | Jun. 30, 2015 |
Details | ||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 65,000,000 | 65,000,000 |
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Issued | 3,305,000 | 3,305,000 |