RumbleON (RMBL) 10-Q 20 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Aug. 31, 2015shares
Document and Entity Information
Entity Registrant Name	Smart Server, Inc
Document Type	10-Q
Document Period End Date	Aug. 31, 2015
Amendment Flag	false
Entity Central Index Key	1,596,961
Current Fiscal Year End Date	--11-30
Entity Common Stock, Shares Outstanding	5,500,000
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	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	svtz

Balance Sheets (unaudited)

Balance Sheets (unaudited) - USD ($)	Aug. 31, 2015	Nov. 30, 2014
Current assets:
Cash	$ 12,253	$ 6,195
Total current assets	12,253	6,195
Website, net	3,325	4,750
Total assets	15,578	10,945
Current liabilities:
Accounts payable	10,299	4,679
Accounts payable - related party	100	100
Current portion of long term debt - related party	100,000	20,000
Total current liabilities	110,399	24,779
Long term liabilities:
Accrued interest payable - related party	10,294	5,026
Note payable - related party	33,000	80,000
Total long term liabilities	43,294	85,026
Total liabilities	$ 153,693	$ 109,805
Stockholders' equity
Preferred stock value
Common stock value	$ 500	$ 5,500
Additional paid-in capital	64,500	64,500
Accumulated deficit	(203,115)	(168,860)
Total stockholders' equity	(138,115)	(98,860)
Total liabilities and stockholders' equity	$ 15,578	$ 10,945

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2015	Nov. 30, 2014
Balance Sheet
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	500,000	5,000,000
Common stock, shares outstanding	500,000	5,000,000

Statements of Operations (unaud

Statements of Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Income Statement
Revenue
Operating expenses:
General and administrative expenses	$ 270	$ 75	$ 340	$ 547
Depreciation and amortization	475	475	1,425	475
Professional fees	5,614	54,560	26,622	123,266
Professional fees - related party	4,480	300	600	900
Total operating expenses	6,359	55,410	28,987	125,188
Other expenses:
Interest expense - related party	(1,972)	(1,513)	(5,268)	(3,455)
Total other expenses	(1,972)	(1,513)	(5,268)	(3,455)
Net loss	$ (8,331)	$ (56,923)	$ (34,255)	$ (128,643)
Net loss per share - basic	$ 0	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average number of common shares outstanding - basic	1,750,000	5,224,453	4,240,876	5,500,000

Statements of Cash Flows (unaud

Statements of Cash Flows (unaudited) - USD ($)	9 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Operating activities
Net loss	$ (34,255)	$ (128,643)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	1,425	475
Changes in operating assets and liabilities:
(Increase) decrease in prepaid expenses		5,000
Increase (decrease) in accounts payable	5,620	3,004
Increase (decrease) in accrued interest payable - related party	5,268	3,454
Net cash used by operating activities	(21,942)	(116,710)
Investing activities
Website development costs		5,700
Net cash used in investing activities		(5,700)
Financing activities
Proceeds from note payable - related party	33,000	80,000
Proceeds from sale of common stock		50,000
Payments for the purchase of treasury stock	5,000
Net cash provided by financing activities	28,000	130,000
Net increase (decrease) in cash	6,058	7,590
Cash - beginning of the period	6,195	2,086
Cash - ending of the period	$ 12,253	$ 9,676
Supplemental disclosures
Interest paid
Income taxes paid

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Aug. 31, 2015
Notes
Summary of Significant Accounting Policies	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim financial statements be read in conjunction with the financial statements of the Company for the year ended November 30, 2014 and notes thereto included in the Company’s annual report. The Company follows the same accounting policies in the preparation of interim reports. Results of operations for the interim period are not indicative of annual results. Organization The Company was incorporated on October 24, 2013 (Date of Inception) under the laws of the State of Nevada, as Smart Server, Inc. Nature of operations The Company will design and develop a mobile payment application that will offer customers at participating restaurants, bars and clubs the ability to pay their bill with their smartphone - without even having to ask for the check. Year end The Company’s year end is November 30. Cash and cash equivalents For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. Website The Company capitalizes the costs associated with the development of the Company's website pursuant to ASC Topic 350. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of 3 years using the straight-line method for financial statement purposes. The Company has commenced amortization upon completion of the Company's fully operational website. Amortization expense for the nine months ended August 31, 2015 was $1,425. Revenue recognition We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable. The Company will record revenue when it is realizable and earned and the services have been rendered to the customers. Advertising costs Advertising costs are anticipated to be expensed as incurred; however there were no advertising costs included in general and administrative expenses for the nine months ended August 31, 2015. Fair value of financial instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of August 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Level 1: Level 2 Level 3: Stock-based compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. Earnings per share The Company follows ASC Topic 260 to account for the earnings per share. Basic earning per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earning per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 significantly from those estimates. Recent pronouncements The Company has evaluated the recent accounting pronouncements through July 2015 and believes that none of them will have a material effect on the company’s financial statements except for the following ASU below. The Company has elected early adoption of Accounting Standard Update (ASU) 2014-10, Topic 915, Development Stage Entities, Elimination of Certain Financial Reporting Requirements

Going Concern

Going Concern	9 Months Ended
	Aug. 31, 2015
Notes
Going Concern	NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. As noted above, the Company is in the development stage and, accordingly, has not yet generated revenues from operations. Since its inception, the Company has been engaged substantially in financing activities and developing its business plan and incurring start up costs and expenses. As a result, the Company incurred net losses for the nine months ended August 31, 2015 of ($34,255). In addition, the Company’s development activities since inception have been financially sustained through debt and equity financing. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

Notes Payable - Related Party D

Notes Payable - Related Party Disclosure	9 Months Ended
	Aug. 31, 2015
Notes
Notes Payable - Related Party Disclosure	NOTE 3 - NOTES PAYABLE - RELATED PARTY On November 7, 2013, the Company executed a promissory note with a related party for $20,000. The unsecured note bears interest at 6% per annum with principal and interest due on November 7, 2015. During the year ended November 30, 2014, this promissory note was reclassified to current portion of long term debt - related party. On December 5, 2013, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on December 5, 2015. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On January 30, 2014, the Company executed a promissory note with a related party for $20,000. The unsecured note bears interest at 6% per annum with principal and interest due on January 30, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On March 3, 2014, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on March 3, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On March 25, 2014, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on March 25, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On April 3, 2014, the Company executed a promissory note with a related party for $15,000. The unsecured note bears interest at 6% per annum with principal and interest due on April 3, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On July 25, 2014, the Company executed a promissory note with a related party for $15,000. The unsecured note bears interest at 6% per annum with principal and interest due on July 25, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On February 27, 2015, the Company executed a promissory note with a related party for $5,000. The unsecured note bears interest at 6% per annum with principal and interest due on February 27, 2017. On April 1, 2015, the Company executed a promissory note with a related party for $8,000. The unsecured note bears interest at 6% per annum with principal and interest due on April 1, 2017. On May 19, 2015, the Company executed a promissory note with a related party for $5,000. The unsecured note bears interest at 6% per annum with principal and interest due on May 19, 2017. On June 4, 2015, the Company executed a promissory note with a related party for $5,000. The unsecured note bears interest at 6% per annum with principal and interest due on June 4, 2017. On August 4, 2015, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on August 4, 2017. Interest expense for the nine months ended August 31, 2015 was $5,268.

Stockholders' Equity Disclosure

Stockholders' Equity Disclosure	9 Months Ended
	Aug. 31, 2015
Notes
Stockholders' Equity Disclosure	NOTE 4 - STOCKHOLDERS’ EQUITY The Company is authorized to issue 100,000,000 shares of its $0.001 par value common stock and 10,000,000 shares of its $0.001 par value preferred stock. On June 24, 2015, the Company repurchased and cancelled 5,000,000 shares of common stock from a former officer and directory of the Company for $5,000. On July 24, 2015, the Company issued 5,000,000 shares of common stock for services to an officer and director The Company and the officer and director mutually agreed to rescind the transaction.

Warrants and Options Disclosure

Warrants and Options Disclosure	9 Months Ended
	Aug. 31, 2015
Notes
Warrants and Options Disclosure	NOTE 5 - WARRANTS AND OPTIONS As of August 31, 2015, there were no warrants or options outstanding to acquire any additional shares of common stock.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Aug. 31, 2015
Notes
Related Party Transactions	NOTE 6 - RELATED PARTY TRANSACTIONS During the nine months ended August 31, 2015, the Company paid an individual for consulting services totaling $600. As of August 31, 2015, the Company owed the individual a total of $100. In March 2015, the individual was appointed as a member of the board of directors and as an officer of the Company and now the individual is considered a related party. As of August 31, 2015, the Company had loans totaling $133,000 and accrued interest totaling $10,294 due to an entity. In March 2015, there was a new officer and director appointed and the lender is now considered a related party. The lender is an entity that is owned and controlled by a family member of an officer and director of the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Aug. 31, 2015
Notes
Subsequent Events	NOTE 7 - SUBSEQUENT EVENTS On October 16, 2015, the shareholders of the Company approved the board of directors to designate the rights and preferences for the preferred stock. On October 20, 2015, the Company and the officer and director mutually agreed to rescind the issuance of 5,000,000 shares of common stock in exchange for services.

Summary of Significant Accoun13

Summary of Significant Accounting Policies: Basis of Presentation (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Basis of Presentation	Basis of presentation The interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim financial statements be read in conjunction with the financial statements of the Company for the year ended November 30, 2014 and notes thereto included in the Company’s annual report. The Company follows the same accounting policies in the preparation of interim reports. Results of operations for the interim period are not indicative of annual results.

Summary of Significant Accoun14

Summary of Significant Accounting Policies: Year End Policy (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Year End Policy	Year end The Company’s year end is November 30.

Summary of Significant Accoun15

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Cash and Cash Equivalents Policy	Cash and cash equivalents For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value.

Summary of Significant Accoun16

Summary of Significant Accounting Policies: Website Policy (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Website Policy	Website The Company capitalizes the costs associated with the development of the Company's website pursuant to ASC Topic 350. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of 3 years using the straight-line method for financial statement purposes. The Company has commenced amortization upon completion of the Company's fully operational website. Amortization expense for the nine months ended August 31, 2015 was $1,425.

Summary of Significant Accoun17

Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Revenue Recognition Policy	Revenue recognition We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable. The Company will record revenue when it is realizable and earned and the services have been rendered to the customers.

Summary of Significant Accoun18

Summary of Significant Accounting Policies: Advertising Costs Policy (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Advertising Costs Policy	Advertising costs Advertising costs are anticipated to be expensed as incurred; however there were no advertising costs included in general and administrative expenses for the nine months ended August 31, 2015.

Summary of Significant Accoun19

Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Fair Value of Financial Instruments	Fair value of financial instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of August 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Level 1: Level 2 Level 3:

Summary of Significant Accoun20

Summary of Significant Accounting Policies: Stock-based Compensation Policy (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Stock-based Compensation Policy	Stock-based compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50.

Summary of Significant Accoun21

Summary of Significant Accounting Policies: Earnings Per Share Policy (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Earnings Per Share Policy	Earnings per share The Company follows ASC Topic 260 to account for the earnings per share. Basic earning per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earning per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.

Summary of Significant Accoun22

Summary of Significant Accounting Policies: Use of Estimates (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Use of Estimates	Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 significantly from those estimates.

Summary of Significant Accoun23

Summary of Significant Accounting Policies: Recent Pronouncements (Policies)	9 Months Ended
	Aug. 31, 2015
Policies
Recent Pronouncements	Recent pronouncements The Company has evaluated the recent accounting pronouncements through July 2015 and believes that none of them will have a material effect on the company’s financial statements except for the following ASU below. The Company has elected early adoption of Accounting Standard Update (ASU) 2014-10, Topic 915, Development Stage Entities, Elimination of Certain Financial Reporting Requirements

Going Concern (Details)

Going Concern (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Details
Net loss	$ (8,331)	$ (56,923)	$ (34,255)	$ (128,643)

Notes Payable - Related Party25

Notes Payable - Related Party Disclosure (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Nov. 30, 2014	May. 31, 2014	Aug. 31, 2015	Aug. 31, 2014	Nov. 30, 2013
Interest expense - related party	$ 1,972	$ 1,513			$ 5,268	$ 3,455
November 7, 2013
Promissory note							$ 20,000
Interest rate per annum							6.00%
December 5, 2013
Promissory note				$ 10,000
Interest rate per annum				6.00%
January 30, 2014
Promissory note				$ 20,000
Interest rate per annum				6.00%
March 3, 2014
Promissory note				$ 10,000
Interest rate per annum				6.00%
March 25, 2014
Promissory note				$ 10,000
Interest rate per annum				6.00%
April 3, 2014
Promissory note				$ 15,000
Interest rate per annum				6.00%
July 25, 2014
Promissory note			$ 15,000
Interest rate per annum			6.00%
February 27, 2015
Promissory note					$ 5,000
Interest rate per annum					6.00%
April 1, 2015
Promissory note					$ 8,000
Interest rate per annum					6.00%
May 19, 2015
Promissory note					$ 5,000
Interest rate per annum					6.00%
June 4, 2015
Promissory note					$ 5,000
Interest rate per annum					6.00%
August 4, 2015
Promissory note					$ 10,000
Interest rate per annum					6.00%

Stockholders' Equity Disclosu26

Stockholders' Equity Disclosure (Details) - USD ($)	9 Months Ended
	Aug. 31, 2015	Nov. 30, 2014
Details
Common stock authorized for issuance	100,000,000	100,000,000
Par value of common stock	$ 0.001	$ 0.001
Preferred stock authorized for issuance	10,000,000	10,000,000
Par value of preferred stock	$ 0.001	$ 0.001
Common stock repurchased and cancelled	5,000,000
Cost and/or value of common stock repurchased	$ 5,000
Common stock issued for services	5,000,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014	Nov. 30, 2014
Details
Professional fees - related party	$ 4,480	$ 300	$ 600	$ 900
Consulting services due to related party	100		100
Loans payable to related party	133,000		133,000
Accrued interest payable - related party	$ 10,294		$ 10,294		$ 5,026

Subsequent Events (Details)

Subsequent Events (Details)	Oct. 20, 2015shares
Details
Issuance shares rescinded	5,000,000