Ixir Productions 10-Q 15 May 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 31, 2015	11-May-15
Document And Entity Information
Entity Registrant Name	Ixir Productions, Inc.
Entity Central Index Key	1583773
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-24
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	Q3
Document Fiscal Year Focus	2015

Condensed_Balance_Sheets

Condensed Balance Sheets (USD $)	Mar. 31, 2015	Jun. 30, 2014
Current Assets:
Cash	$13,065	$20,865
Loan to related party	2,032	2,032
Total current assets	15,097	22,897
Total assets	15,097	22,897
Current Liabilities:
Accounts payable	900	2,000
Total current liabilities	900	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
Accumulated deficit	-13,093	-6,393
Total stockholders' equity	14,197	20,897
Total liabilities and stockholders' equity	$15,097	$22,897

Condensed_Balance_Sheets_Paren

Condensed Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Statement of Financial Position [Abstract]
Common stock, par value per share	$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				9 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenue			$2,784			$7,043
Cost of sales, related party			1,949			4,930
Gross profit			835			2,113
OPERATING EXPENSES
Audit fees	1,800		1,800		5,800	4,300
General & administrative			325			325
Professional fees			2,000		900	2,000
Total operating expenses	1,800		4,125		6,700	6,625
Provision for income taxes
Net loss	($1,800)		($3,290)		($6,700)	($4,512)
Basic and diluted loss per common share		[1]		[1]			[1]
Weighted average number of common shares outstanding	5,215,000		5,000,000		5,215,000	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	Accumulated Deficit	Total
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 period ended			-6,700	-6,700
Balance value at Mar. 31, 2015	$5,215	$22,075	($13,093)	$14,197
Balance shares at Mar. 31, 2015	5,215,000			5,215,000

Condensed_Statements_Of_Cashfl

Condensed Statements Of Cashflows (Unaudited) (USD $)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
OPERATING ACTIVITIES:
Net loss	($6,700)	($4,512)
Adjustments to reconcile net loss to net cash used in operating activities:
Increase in accounts payable	-1,100	3,800
Net cash used in operating activities	-7,800	-712
FINANCING ACTIVITIES:
Loan to director		2,113
Net cash used by financing activities		-2,113
Decrease in cash during the period	-7,800	-2,825
Cash, beginning of the period	20,865	6,000
Cash, end of the period	13,065	3,175
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	9 Months Ended
	Mar. 31, 2015
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 and nine months ended March 31, 2015 are not necessarily indicative of future results for the full year.

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015, 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
	On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).   Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US 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.  The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

Going_Concern

Going Concern	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015 of $ 13,093. 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 three months ending June 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	9 Months Ended
	Mar. 31, 2015
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	9 Months Ended
	Mar. 31, 2015
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.
	During the year ended June 30, 2014, the Company advanced its officer and director $2,032. These amounts remain outstanding as of March 31, 2015, 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 March 31, 2015, respectively, has been incurred with the Company’s sole officer

Income_Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2015
Income Taxes
Income Taxes	Note 6. Income Taxes
	Net deferred tax assets are $0 as of March 31, 2015. 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	9 Months Ended
	Mar. 31, 2015
Concentration Risk
Concentration Risk	Note 7. Concentration Risk
	During the period from March 19, 2013 (inception) through March 31, 2015, the Company’s revenue was from three customers. 100% of the Company’s cost of sales incurred from March 19, 2013 (inception) through March 31, 2015, was with its sole officer and director.

Organization_And_Basis_Of_Pres1

Organization And Basis Of Presentation (Policies)	9 Months Ended
	Mar. 31, 2015
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 and nine months ended March 31, 2015 are not necessarily indicative of future results for the full year.

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015, 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
	On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).   Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US 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.  The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

Going_Concern_Narrative_Detail

Going Concern (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended		24 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015
Going Concern Narrative Details
Net loss	($1,800)	($3,290)	($6,700)	($4,512)	($13,093)

Stockholders_Equity_Narrative_

Stockholder's Equity (Narrative) (Details) (USD $)	15 Months Ended	2 Months Ended	9 Months Ended	0 Months Ended
	Jun. 30, 2014	31-May-14	Mar. 31, 2015	Mar. 20, 2013
Reclassification of equity issuance costs	$6,500
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
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		9 Months Ended		12 Months Ended	24 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014	Mar. 31, 2015
Related Party Transaction [Line Items]
Loan to director				$2,113
Cost of sales		1,949		4,930
Officer And Director
Related Party Transaction [Line Items]
Loan to director					2,032
Loans receivable terms			Non-interest bearing and due on demand
Sole Officer
Related Party Transaction [Line Items]
Cost of sales						$6,375

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	9 Months Ended
	Mar. 31, 2015
Income Taxes Narrative Details
Net deferred tax assets	$0
Valuation allowance, percentage	100.00%
Net operating loss carry forward	$9,000
Operating loss carry forward expiration	31-Mar-33

Concentration_Risk_Narrative_D

Concentration Risk (Narrative) (Details) (Cost Of Sales, Sole Officer)	24 Months Ended
	Mar. 31, 2015
Cost Of Sales | Sole Officer
Concentration Risk [Line Items]
Concentration of risk	100.00%