ViewRay (VRAYQ) 10-K 27 Feb 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Nov. 30, 2014
Document and Entity Information:
Entity Registrant Name	MIRAX CORP.
Document Type	10-K
Document Period End Date	30-Nov-14
Amendment Flag	FALSE
Entity Central Index Key	1597313
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding	4,343,339
Entity Public Float	$43,433
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Balance_sheets

Balance sheets (USD $)	Nov. 30, 2014	Nov. 30, 2013
Assets, Current
Cash and Cash Equivalents, at Carrying Value	$7,927	$3,208
Inventory, Net	2,521	2,521
Assets, Current	10,448	5,729
Assets	10,448	5,729
Liabilities, Current
Accounts Payable, Current	80
Advances from director	7,200	2,700
Liabilities, Current	7,280	2,700
Liabilities	7,280	2,700
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Common Stock, value issued and outstanding	4,343	3,500
Additional Paid in Capital, Common Stock	23,725
Deficit accumulated during the development stage (Accumulated Deficit)	-24,900	-471
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,168	3,029
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares Issued	4,343,339	3,500,000
Common Stock, Shares Outstanding	4,343,339	3,500,000
Liabilities and Equity	$10,448	$5,729

Unaudited_Statement_of_Operati

Unaudited Statement of Operations (USD $)	3 Months Ended	12 Months Ended
	Nov. 30, 2013	Nov. 30, 2014
Revenues
Revenues		$0
Operating Expenses
Miscellaneous Expense		0
Selling, General and Administrative Expense	471	24,429
Total Operating Expenses	471	24,429
Net loss from operations	471	-24,429
Income Tax Expense (Benefit)
Provision for Income Taxes (Benefit)	0	0
Net Income (Loss)	$471	($24,429)
Earnings Per Share
Earnings Per Share, Basic and Diluted	$0	$0
Weighted Average Number of Shares Outstanding, Basic and Diluted	3,778,906	3,778,906

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	3 Months Ended	12 Months Ended
	Nov. 30, 2013	Nov. 30, 2014
Net Cash Provided by (Used in) Operating Activities
Net loss for the period	($471)	($24,429)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Inventory	-2,521
Increase (Decrease) in Operating Liabilities
Increase (Decrease) in Accounts Payable		80
Net Cash Provided by (Used in) Operating Activities	-2,992	-24,349
Net Cash Provided by (Used in) Financing Activities
Proceeds from director loan	2,700	4,500
Proceeds from Issuance of Common Stock	3,500	24,568
Repayment of Notes Receivable from Related Parties	0	0
Proceeds from Contributions from Affiliates	0	0
Net Cash Provided by (Used in) Financing Activities	6,200	29,068
Cash and Cash Equivalents, Period Increase (Decrease)	3,208	-4,719
Cash and Cash Equivalents, at Carrying Value		3,208
Cash and Cash Equivalents, at Carrying Value	$3,208	$7,927

Note_1_Organization_and_Nature

Note 1 - Organization and Nature of Business	12 Months Ended
	Nov. 30, 2014
Notes
Note 1 - Organization and Nature of Business	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS
	Mirax Corp. was incorporated in the State of Nevada on September 6, 2013. We are a development-stage company formed to buy cell phone cases from manufacturers and distributors for wholesale prices, and selling them at market price.

Note_2_Summary_of_Signifcant_A

Note 2 - Summary of Signifcant Accounting Policies	12 Months Ended
	Nov. 30, 2014
Notes
Note 2 - Summary of Signifcant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
	Basis of Presentation
	The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.
	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 November 30 fiscal year end.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $7,927 of cash as of November 30, 2014.
	Fair Value of Financial Instruments
	The Company’s financial instruments consist of cash and cash equivalents and amounts due to shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.
	Income Taxes
	Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
	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 the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.
	Revenue Recognition
	The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.
	Stock-Based Compensation
	Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.
	Basic Income (Loss) Per Share
	Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of November 30, 2014.
	Comprehensive Income
	The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.
	Recent Accounting Pronouncements
	Mirax Corp. 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.
	Inventory
	Inventory consists of merchandise acquired for resale and is valued at the lower-of-cost-or-market with cost determined on a first-in first out basis.

Note_3going_Concern

Note 3-going Concern	12 Months Ended
	Nov. 30, 2014
Notes
Note 3-going Concern	NOTE 3—GOING CONCERN
	The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern.  However, the Company had no revenues as of November 30, 2014.  The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time.
	Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

Note_4inventory

Note 4-inventory	12 Months Ended
	Nov. 30, 2014
Notes
Note 4-inventory	NOTE 4—INVENTORY
	Inventory consists of finished goods and is valued at the lower-of-cost-or-market with cost determined on a first-in first out basis. The balance in inventory as of November 30, 2014 and 2013 was $2,521 and 0, respectively.

Note_5loans_From_Director

Note 5-loans From Director	12 Months Ended
	Nov. 30, 2014
Notes
Note 5-loans From Director	NOTE 5—LOANS FROM DIRECTOR
	The balance due to the director was $7,200 and $2,700 as of November 30, 2014 and 2013, respectively.. The loan is unsecured, non-interest bearing and due on demand.

Note_6common_Stock

Note 6-common Stock	12 Months Ended
	Nov. 30, 2014
Notes
Note 6-common Stock	NOTE 6—COMMON STOCK
	The Company has 75,000,000, $0.001 par value shares of common stock authorized.
	On October 28, 2013, the Company issued 3,500,000 shares of common stock to a director for cash proceeds of $3,500 at $0.001 per share.
	Between December 2013 and November 2014, the Company sold 843,339 shares of common stock for net cash proceeds of $24,568 at $0.03 per share.
	There were 4,343,339 shares of common stock issued and outstanding as of November 30, 2014.

Note_7_Income_Taxes

Note 7 - Income Taxes	12 Months Ended
	Nov. 30, 2014
Notes
Note 7 - Income Taxes	NOTE 7 – INCOME TAXES
	As of November 30, 2014, the Company had net operating loss carry forwards of approximately $24,900 that may be available to reduce future years’ taxable income in varying amounts through 2031. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.
	The provision for Federal income tax consists of the following:
		30-Nov-14
			30-Nov-13
	Federal income tax benefit attributable to:
	Current Operations	$                8,466	$                       145
	Less: valuation allowance	-8,466	-145
	Net provision for Federal income taxes	$                        -	$                            -
	The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:
		30-Nov-14	30-Nov-13
	Deferred tax asset attributable to:
	Net operating loss carryover	$             8,611	$                 145
	Less: valuation allowance	-8,611	-145
	Net deferred tax asset	$                     -	$                      -
	Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $24,900 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.

Note_8_Commitments_and_Conting

Note 8 - Commitments and Contingencies	12 Months Ended
	Nov. 30, 2014
Notes
Note 8 - Commitments and Contingencies	NOTE 8 – COMMITMENTS AND CONTINGENCIES
	The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.  There is no obligation for the officer to continue this arrangement.  Such costs are immaterial to the financial statements and accordingly are not reflected herein.  The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

Note_9subsequent_Events

Note 9-subsequent Events	12 Months Ended
	Nov. 30, 2014
Notes
Note 9-subsequent Events	NOTE 9—SUBSEQUENT EVENTS
	In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to November 30, 2014 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.