Ixir Productions 10-Q 13 Nov 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Sep. 30, 2014	Nov. 10, 2014
Document And Entity Information	'	'
Entity Registrant Name	'Ixir Productions, Inc.	'
Entity Central Index Key	'0001583773	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
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	'	5,215,000
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2015	'

Condensed_Balance_Sheets_Unaud

Condensed Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Current Assets:	'	'
Cash	$18,865	$20,865
Loan to related party	2,032	2,032
Total current assets	20,897	22,897
Total assets	20,897	22,897
Current Liabilities:	'	'
Accounts payable	2,950	2,000
Total current liabilities	2,950	2,000
Stockholders' Equity:	'	'
Common stock, 75,000,000 shares authorized, par value $0.001, 5,215,000 shares issued and outstanding	5,215	5,215
Additional paid in capital	22,075	22,075
Deficit accumulated during the development stage	9,343	6,393
Total stockholders' equity	17,947	20,897
Total liabilities and stockholder's equity	$20,897	$22,897

Condensed_Balance_Sheets_Unaud1

Condensed Balance Sheets (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2014	Jun. 30, 2014
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	5,215,000	5,215,000
Common stock, shares outstanding	5,215,000	5,215,000

Condensed_Statements_Of_Operat

Condensed Statements Of Operations (Unaudited) (USD $)	3 Months Ended				18 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014
Income Statement [Abstract]	'		'		'
Revenue	'		$1,015		$9,087
Cost of sales, related party	'		710		6,375
Gross profit	'		305		2,712
OPERATING EXPENSES	'		'		'
Audit fees	2,500		2,500		8,600
Organization expenses	'		'		680
General & administrative	'		'		325
Professional fees	450		'		2,450
Total operating expenses	2,950		2,500		12,055
Provision for income taxes	'		'		'
Net loss	($2,950)		($2,195)		($9,343)
Basic and diluted loss per common share	'	[1]	'	[1]	'	[1]
Weighted average number of common shares outstanding	5,215,000		5,000,000		5,000,000
[1]	less than $.01 per share

Condensed_Statement_Of_Stockho

Condensed Statement Of Stockholders' Equity (Unaudited) (USD $)	Common Stock	Additional Paid-in Capital	Deficit Accumulated During the Development Stage	Total
Balance value at Mar. 18, 2013	'	'	'	'
Balance shares at Mar. 18, 2013	'	'	'	'
Common stock issued for cash ($0.0025, $0.10), shares	5,000,000	'	'	'
Common stock issued for cash ($0.0025, $0.10), value	5,000	7,500	'	12,500
Net loss for the year ended	'	'	-81	-81
Balance value at Jun. 30, 2013	5,000	7,500	-81	12,419
Balance shares at Jun. 30, 2013	5,000,000	'	'	'
Common stock issued for cash ($0.0025, $0.10), shares	215,000	'	'	'
Common stock issued for cash ($0.0025, $0.10), value	215	21,075	'	21,290
Reclassification of equity issuance costs	'	6,500	'	6,500
Net loss for the year ended	'	'	-6,312	-6,312
Balance value at Jun. 30, 2014	5,215	22,075	-6,393	20,897
Balance shares at Jun. 30, 2014	5,215,000	'	'	5,215,000
Net loss for the year ended	'	'	-2,950	-2,950
Balance value at Sep. 30, 2014	$5,215	$22,075	($9,343)	$17,947
Balance shares at Sep. 30, 2014	5,215,000	'	'	5,215,000

Condensed_Statement_Of_Stockho1

Condensed Statement Of Stockholders' Equity (Unaudited) (Parenthetical) (USD $)	0 Months Ended	2 Months Ended
	Mar. 20, 2013	31-May-14
Statement of Stockholders' Equity [Abstract]	'	'
Common stock issued for cash, per share	$0.00	$0.10

Condensed_Statements_Of_Cash_F

Condensed Statements Of Cash Flows (Unaudited) (USD $)	3 Months Ended		18 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014
OPERATING ACTIVITIES:	'	'	'
Net loss	($2,950)	($2,195)	($9,343)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Increase in accounts payable	950	3,210	2,950
Increase in accounts receivable	'	1,015	'
Net cash used in operating activities	-2,000	'	-6,393
FINANCING ACTIVITIES:	'	'	'
Loan to director	'	'	2,032
Proceeds from issuance of common stock, net	'	'	27,290
Net cash provided by financing activities	'	'	25,258
Increase (decrease) in cash during the period	-2,000	'	18,865
Cash, beginning of the period	20,865	6,000	'
Cash, end of the period	18,865	6,000	18,865
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION	'	'	'
Cash paid during the period for Interest	'	'	'
Cash paid during the period for Income taxes	'	'	'

Organization_And_Basis_Of_Pres

Organization And Basis Of Presentation	3 Months Ended
	Sep. 30, 2014
Organization And Basis Of Presentation	'
Organization and Basis of Presentation	'
	Note 1. Organization and Basis of Presentation
	IXIR Productions, Inc. (“the Company”) was originally incorporated under the laws of the state of Nevada on March 19, 2013. The Company is devoting substantially all of its present efforts to establish a new business. It is considered a development stage company, and has had minimal revenues from operations to date.
	Initial operations have included organization and capital formation. The Company is engaged in the business of recruiting rising music artists and providing them with related services such as worldwide digital distribution, production, music videos, Music Press P.R, online marketing and event promotion.
	ACCOUNTING BASIS
	The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles applicable to development stage enterprises. The Company has adopted a June 30 fiscal year end.
	The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed financial statements should be read in conjunction with a reading of the Company’s financial statements and notes thereto included in the Company’s Form 10-K annual report for year ended June 30, 2014 filed with the Securities and Exchange Commission (SEC) on September 30, 2014. Interim results of operations for the three months ended September 30, 2014 are not necessarily indicative of future results for the full year.

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2014
Summary Of Significant Accounting Policies	'
Summary of Significant Accounting Policies	'
	Note 2.  Summary of Significant Accounting Policies
	CASH
	The Company’s cash consists of funds deposited with its lawyer into the law firm's trust account.
	EARNINGS PER SHARE
	The basic earnings (loss) per share is calculated by dividing the Company's net loss by the weighted average number of common shares outstanding during the period. The diluted earnings (loss) per share is calculated by dividing the Company's net loss by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity securities. The Company has not issued any options or warrants or similar securities since inception.
	FOREIGN CURRENCY TRANSLATION
	The Company has adopted the US dollar as its functional and reporting currency because most of its transactions are denominated in US currency.
	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The carrying value of the loan to related party and accounts payable approximate fair value due to their short-term nature.
	INCOME TAXES
	Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company accounts for income taxes under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, “Accounting for Income Taxes. It prescribes a recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the Company has applied a more-likely-than-not recognition threshold for all tax uncertainties. The guidance only allows the recognition of those tax benefits that have a greater than 50% likelihood of being sustained upon examination by the various taxing authorities. The Company is subject to taxation in the United States. All of the Company’s tax years since inception remain subject to examination by Federal and state jurisdictions. The Company did not identify any uncertain tax positions.
	The Company classifies penalties and interest related to unrecognized tax benefits as income tax expense in the Statements of Operations. As of September 30, 2014, the Company had no accrued interest or penalties.
	REVENUE RECOGNITION
	The Company recognizes revenue during the period in which services have been provided and collection is reasonably assured.
	USE OF ESTIMATES
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	RECENT ACCOUNTING PRONOUNCEMENTS
	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position or cash flow.

Going_Concern

Going Concern	3 Months Ended
	Sep. 30, 2014
Going Concern	'
Going Concern	'
	Note 3. Going Concern
	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has net losses from the date of incorporation on March 19, 2013 to September 30, 2014 of $9,343. The Company intends to fund its expenditures through equity financing arrangements, which may be insufficient to fund its proposed development expenditures, working capital and other cash requirements through the next twelve months ending September 30, 2015.
	The ability of the Company to emerge from the development stage and continue as a going concern is dependent upon the Company's successful efforts to raise sufficient capital for its business plans and then attaining profitable operations. In response to these issues, management has planned the following actions:
	- The Company has filed and cleared a Registration Statement with the SEC to raise additional equity funds through a public offering.
	- Management is currently formulating plans to recruit rising music artists and to provide with related services such as worldwide digital distribution and production. There can be no assurances, however, that management's expectations of future revenues will be realized.
	The company is engaged in the business of recruiting rising music artists and providing them with related services such as worldwide digital distribution, production, music videos, Music Press P.R, online marketing and event promotion.
	As of the date of the financial statements, there were no commitments for the additional equity funding. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Stockholders_Equity

Stockholder's Equity	3 Months Ended
	Sep. 30, 2014
Stockholders Equity	'
Stockholder's Equity	'
	Note 4. Stockholder’s Equity
	AUTHORIZED
	The Company is authorized to issue 75,000,000 shares of $0.001 par value common stock. All common stock shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.
	ISSUED AND OUTSTANDING
	On March 19, 2013 (inception), the Company issued 5,000,000 shares of its common shares to its President, Secretary Treasurer and Director for cash of $.0025 per share or $12,500 in aggregate. See Note 5.
	During the period from March 19, 2013 (inception) through June 30, 2013, the Company incurred $6,500 of equity issuance costs, which were reduced to Additional Paid in Capital when the proceeds from the sale of common stock were received during the year ended June 30, 2014.
	In April and May 2014, the Company sold 215,000 shares of common stock for $0.10 per share resulting in net proceeds of $21,290.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2014
Related Party Transactions	'
Related Party Transactions	'
	Note 5. Related Party Transactions
	The Company's officer and director is involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.
	On March 19, 2013, the Company issued 5,000,000 shares of its common stock to its President, Secretary Treasurer and Director for cash of $12,500. See Note 4.
	As of June 30, 2014, the Company advanced its officer and director $2,032. These amounts remain outstanding as of September 30, 2014, are non-interest bearing and due on demand.
	All of the Company’s cost of sales totaling $6,375 for the period from inception through September 30, 2014, respectively, has been incurred with the Company’s sole officer and director.

Income_Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2014
Income Taxes	'
Income Taxes	'
	Note 6. Income Taxes
	Net deferred tax assets are $0 as of September 30, 2014. Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a 100% valuation allowance. Management believes it is likely that any deferred tax assets will not be realized. The Company has a net operating loss carry forward of approximately $9,000 which will expire by March 31, 2033.

Concentration_Risk

Concentration Risk	3 Months Ended
	Sep. 30, 2014
Concentration Risk	'
Concentration Risk	'
	Note 7. Concentration Risk
	During the period from March 19, 2013 (inception) through September 30, 2014, the Company’s revenue were from three customers. During the three months ended September 30, 2013, 100% of the company’s revenue was generated from one customer. 100% of the Company’s cost of sales incurred from March 19, 2013 (inception) through September 30, 2014, were with its sole officer and director.

Organization_And_Basis_Of_Pres1

Organization And Basis Of Presentation (Policies)	3 Months Ended
	Sep. 30, 2014
Organization And Basis Of Presentation Policies	'
Accounting Basis	'
	ACCOUNTING BASIS
	The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles applicable to development stage enterprises. The Company has adopted a June 30 fiscal year end.
	The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed financial statements should be read in conjunction with a reading of the Company’s financial statements and notes thereto included in the Company’s Form 10-K annual report for year ended June 30, 2014 filed with the Securities and Exchange Commission (SEC) on September 30, 2014. Interim results of operations for the three months ended September 30, 2014 are not necessarily indicative of future results for the full year.

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2014
Summary Of Significant Accounting Policies Policies	'
Cash	'
	CASH
	The Company’s cash consists of funds deposited with its lawyer into the law firm's trust account.
Earnings Per Share	'
	EARNINGS PER SHARE
	The basic earnings (loss) per share is calculated by dividing the Company's net loss by the weighted average number of common shares outstanding during the period. The diluted earnings (loss) per share is calculated by dividing the Company's net loss by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity securities. The Company has not issued any options or warrants or similar securities since inception.
Foreign Currency Translation	'
	FOREIGN CURRENCY TRANSLATION
	The Company has adopted the US dollar as its functional and reporting currency because most of its transactions are denominated in US currency.
Fair Value of Financial Instruments	'
	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The carrying value of the loan to related party and accounts payable approximate fair value due to their short-term nature.
Income Taxes	'
	INCOME TAXES
	Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company accounts for income taxes under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, “Accounting for Income Taxes. It prescribes a recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the Company has applied a more-likely-than-not recognition threshold for all tax uncertainties. The guidance only allows the recognition of those tax benefits that have a greater than 50% likelihood of being sustained upon examination by the various taxing authorities. The Company is subject to taxation in the United States. All of the Company’s tax years since inception remain subject to examination by Federal and state jurisdictions. The Company did not identify any uncertain tax positions.
	The Company classifies penalties and interest related to unrecognized tax benefits as income tax expense in the Statements of Operations. As of September 30, 2014, the Company had no accrued interest or penalties.
Revenue Recognition	'
	REVENUE RECOGNITION
	The Company recognizes revenue during the period in which services have been provided and collection is reasonably assured.
Use of Estimates	'
	USE OF ESTIMATES
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	'
	RECENT ACCOUNTING PRONOUNCEMENTS
	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position or cash flow.

Stockholders_Equity_Narrative_

Stockholder's Equity (Narrative) (Details) (USD $)	0 Months Ended	2 Months Ended	3 Months Ended			12 Months Ended	18 Months Ended
	Mar. 20, 2013	31-May-14	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2013	Jun. 30, 2014	Sep. 30, 2014
Shares issued for cash, value	'	'	'	'	$12,500	$21,290	'
Shares issued for cash, per share	$0.00	$0.10	'	'	'	'	'
Proceeds from issuance of common stock	'	'	'	'	'	'	27,290
Common Stock	'	'	'	'	'	'	'
Common stock voting rights	'	'	'	'	'	'	'
			All common stock shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.
Shares issued for cash, shares	'	215,000	'	'	5,000,000	215,000	'
Shares issued for cash, value	'	'	'	'	5,000	215	'
Shares issued for cash, per share	'	$0.10	'	'	'	'	'
Proceeds from issuance of common stock	'	21,290	'	'	'	'	'
Common Stock | President, Secretary Treasurer and Director	'	'	'	'	'	'	'
Shares issued for cash, shares	5,000,000	'	'	'	'	'	'
Shares issued for cash, value	$12,500	'	'	'	'	'	'
Shares issued for cash, per share	$0.00	'	'	'	'	'	'

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	3 Months Ended		18 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Jun. 30, 2014
Related Party Transaction [Line Items]	'	'	'	'
Loan to related party	$2,032	'	$2,032	$2,032
Cost of sales	'	710	6,375	'
Officer And Director	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Cost of sales	'	'	6,375	'
Officer And Director | Loans Receivable	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Loan to related party	'	'	'	$2,032

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	3 Months Ended
	Sep. 30, 2014
Income Taxes Narrative Details	'
Net deferred tax assets	$0
Valuation allowance	100.00%
Operating loss carry forward expiration	31-Mar-33
Net operating loss carry forward	$9,000

Concentration_Risk_Narrative_D

Concentration Risk (Narrative) (Details)	18 Months Ended	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
	Cost Of Sales	Revenue From One Customer
	Officer And Director
Concentration Risk [Line Items]	'	'
Concentration of risk	100.00%	100.00%