ViewRay (VRAYQ) 10-Q 24 Mar 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Feb. 28, 2015
Document and Entity Information:
Entity Registrant Name	MIRAX CORP.
Document Type	10-Q
Document Period End Date	28-Feb-15
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	2015
Document Fiscal Period Focus	Q1

Balance_sheets

Balance sheets (USD $)	Feb. 28, 2015	Nov. 30, 2014
Assets, Current
Cash and Cash Equivalents, at Carrying Value	$3,735	$7,927
Inventory, Net	2,521	2,521
Assets, Current	6,256	10,448
Assets	6,256	10,448
Liabilities, Current
Advances from director	7,200	7,280
Liabilities, Current	7,200	7,280
Liabilities	7,200	7,280
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Common Stock, value issued and outstanding	4,343	4,343
Additional Paid in Capital, Common Stock	23,725	23,725
Deficit accumulated during the development stage (Accumulated Deficit)	-29,012	-24,900
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	-944	3,168
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	4,343,339
Common Stock, Shares Outstanding	4,343,339	4,343,339
Liabilities and Equity	$6,256	$10,448

Unaudited_Statement_of_Operati

Unaudited Statement of Operations (USD $)	3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Revenues
Revenues	$0
Operating Expenses
Miscellaneous Expense	0
Selling, General and Administrative Expense	4,112	4,155
Total Operating Expenses	4,112	4,155
Net loss from operations	-4,112	-4,155
Income Tax Expense (Benefit)
Provision for Income Taxes (Benefit)	0	0
Net Income (Loss)	($4,112)	($4,155)
Earnings Per Share
Earnings Per Share, Basic and Diluted	$0	$0
Weighted Average Number of Shares Outstanding, Basic and Diluted	4,343,339	4,343,339

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Net Cash Provided by (Used in) Operating Activities
Net loss for the period	($4,112)	$4,155
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Inventory		-2,521
Increase (Decrease) in Operating Assets
Increase (Decrease) in Operating Assets		2,521
Increase (Decrease) in Operating Liabilities
Increase (Decrease) in Accounts Payable	-80
Net Cash Provided by (Used in) Operating Activities	-4,192	-4,155
Net Cash Provided by (Used in) Financing Activities
Proceeds from director loan	1,000
Proceeds from Issuance of Common Stock	0	0
Repayment of Notes Receivable from Related Parties	0	0
Proceeds from Contributions from Affiliates	0	0
Net Cash Provided by (Used in) Financing Activities	0	1,000
Cash and Cash Equivalents, Period Increase (Decrease)	-4,192	-3,155
Cash and Cash Equivalents, at Carrying Value	7,927	3,208
Cash and Cash Equivalents, at Carrying Value	$3,735	$53

Note_1_Organization_and_Nature

Note 1 - Organization and Nature of Business	3 Months Ended
	Feb. 28, 2015
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	3 Months Ended
	Feb. 28, 2015
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 $3,735 and $7,927 of cash as of February 28, 2015 and November 30, 2014 respectively.
	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 February 28. 2015.
	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
	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.
	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_3_Condensed_Financial_Sta

Note 3 - Condensed Financial Statements	3 Months Ended
	Feb. 28, 2015
Notes
Note 3 - Condensed Financial Statements	NOTE 3 – CONDENSED FINANCIAL STATEMENTS
	The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the period ended February 28, 2015 and for all periods presented have been made.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s November 30, 2014 audited financial statements. The results of operations for the three months ended February 28, 2015 are not necessarily indicative of the operating results for the full year ended November 30, 2015

Note_4going_Concern

Note 4-going Concern	3 Months Ended
	Feb. 28, 2015
Notes
Note 4-going Concern	NOTE 4—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 February 28, 2015.  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_5loans_From_Director

Note 5-loans From Director	3 Months Ended
	Feb. 28, 2015
Notes
Note 5-loans From Director	NOTE 5—LOANS FROM DIRECTOR
	The balance due to the director was $7,200 as of February 28, 2015 and November 30, 2014. The loan is unsecured, non-interest bearing and due on demand.

Note_6common_Stock

Note 6-common Stock	3 Months Ended
	Feb. 28, 2015
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 August 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 February 28, 2015.

Note_7_Commitments_and_Conting

Note 7 - Commitments and Contingencies	3 Months Ended
	Feb. 28, 2015
Notes
Note 7 - Commitments and Contingencies	NOTE 7 – 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_8subsequent_Events

Note 8-subsequent Events	3 Months Ended
	Feb. 28, 2015
Notes
Note 8-subsequent Events	NOTE 8—SUBSEQUENT EVENTS
	In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to February 28, 2015 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.