Nevada Canyon Gold (NGLD) S-1 19 May 14 IPO registration Financial data

Document_and_Entity_Informatio

Document and Entity Information	1 Months Ended
	Mar. 31, 2014
Document And Entity Information	'
Entity Registrant Name	'Tech Foundry Ventures, Inc.
Entity Central Index Key	'0001605481
Document Type	'S-1
Document Period End Date	31-Mar-14
Amendment Flag	'false
Entity Filer Category	'Smaller Reporting Company

Balance_Sheet

Balance Sheet (USD $)	Mar. 31, 2014
Current Assets	'
Cash	$83
Prepaid expenses	511
Total Current Assets	594
TOTAL ASSETS	594
Current Liabilities	'
Related party advances	21,100
Total Current Liabilities	21,100
TOTAL LIABILITIES	21,100
STOCKHOLDERS' DEFICIT	'
Preferred Stock, Authorized 10,000,000 preferred shares, $0.0001 par, none issued and outstanding as of March 31, 2014	'
Common Stock; Authorized 100,000,000 common shares, $0.0001 par, 21,000,000 issued and outstanding as of March 31, 2014	2,100
Additional Paid in Capital	'
Deficit accumulated during the development stage	-22,606
TOTAL STOCKHOLDERS' DEFICIT	-20,506
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$594

Balance_Sheet_Parenthetical

Balance Sheet (Parenthetical) (USD $)	Mar. 31, 2014
Statement of Financial Position [Abstract]	'
Preferred stock, shares authorized	10,000,000
Preferred stock, par value	$0.00
Preferred stock, shares outstanding	'
Preferred stock, shares issued	'
Common stock, shares authorized	100,000,000
Common stock, par value	$0.00
Common stock, shares issued	21,000,000
Common stock, shares outstanding	21,000,000

Statements_of_Operations

Statements of Operations (USD $)	1 Months Ended
	Mar. 31, 2014
Revenues:	'
Sales, net-	'
Expenses	'
General & administrative expenses	506
Stock-based compensation	2,100
Professional fees	20,000
Total Expenses	22,606
Net Loss for the Period	($22,606)
Basic and diluted loss per common share	$0
Weighted average number of common shares outstanding Basic and diluted	2,100,000

Statement_of_Stockholders_Defi

Statement of Stockholders' Deficit (USD $)	Common Stock [Member]	Additional Paid-In Capital [Member]	Deficit Accumulated during Development Stage [Member]	Total
Balance at Feb. 27, 2014	'	'	'	'
Balance, shares at Feb. 27, 2014	'	'	'	'
Founders' shares, issued for services rendered on February 28, 2014 at $0.0001 per share	2,100	'	'	2,100
Founders' shares, issued for services rendered on February 28, 2014 at $0.0001 per share, shares	21,000,000	'	'	'
Net loss for the period	'	'	-22,606	-22,606
Balance at Mar. 31, 2014	$2,100	'	($22,606)	($20,506)
Balance, shares at Mar. 31, 2014	21,000,000	'	'	'

Statement_of_Stockholders_Defi1

Statement of Stockholders' Deficit (Parenthetical) (USD $)	1 Months Ended
	Mar. 31, 2014
Statement of Stockholders' Equity [Abstract]	'
Equity issuance price per share	$0.00

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	1 Months Ended
	Mar. 31, 2014
OPERATING ACTIVITIES	'
Net Loss	($22,606)
Adjustments to reconcile net income to net cash provided used for operations:	'
Stock-based compensation	2,100
Accounts Payable	-511
Net cash used by Operating Activities	-21,017
INVESTING ACTIVITIES	'
Net cash flows used investing activities	'
FINANCING ACTIVITIES	'
Advances from shareholders	21,100
Net cash provided by Financing Activities	21,100
Net cash increase for period	83
Cash, at end	83
Supplemental disclosure of non-cash investing and financing activities:	'
Issuance of common stock issued for service	2,100
Supplemental cash flow information:	'
Cash paid of interest	'
Cash paid for income taxes	'

Nature_of_Business

Nature of Business	1 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature of Business	'
	NOTE 1 - NATURE OF BUSINESS
	The Company was incorporated under the laws of the state of Nevada on February 27, 2014, under the name Tech Foundry Ventures, Inc. The Company has limited operations and is developing a business plan to provide consulting services to startup companies in Southern California and North America. The Company intends to service development stage enterprises that are seeking startup capital and offer a variety of services to them, which they normally would not be able to afford. To date, its business activities have been limited to organizational matters. It is considered a development stage enterprise and has not yet realized any revenues from its planned operations.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	1 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Development Stage Enterprise
	The Company is a development stage company as defined by ASC 915-10-05, “Development Stage Entity.” The Company is still devoting substantially all of its efforts on establishing its business and its planned principal operations have not commenced. All losses accumulated, since inception, have been considered as part of the Company’s development stage activities.
	Basis of Accounting
	The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 fiscal year end.
	Cash
	The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. The Company does not have any cash equivalents as of March 31, 2014.
	Use of Estimates and Assumptions
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company has adopted the provisions of ASC 260.
	Stock Based Compensation
	ASC 718 "Compensation - Stock Compensation" which codified SFAS No. 123 prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights, may be classified as either equity or liabilities. The Company determines if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (a) the option to settle by issuing equity instruments lacks commercial substance or (b) the present obligation is implied because of an entity's past practices or stated policies. If a present obligation exists, the transaction is recognized as a liability; otherwise, the transaction is recognized as equity.
	The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50 "Equity - Based Payments to Non-Employees" which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 ("EITF 96-18"), "Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services." Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date.
	Income Taxes
	The Company uses the asset and liability method of accounting for income taxes in accordance with ASC 740-10, “Accounting for Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year; and, (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if, based on the weight of available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	ASC 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken or expected to be taken on a tax return. Under ASC 740-10, a tax benefit from an uncertain tax position taken or expected to be taken may be recognized only if it is “more likely than not” that the position is sustainable upon examination, based on its technical merits. The tax benefit of a qualifying position under ASC 740-10 would equal the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority having full knowledge of all the relevant information. A liability (including interest and penalties, if applicable) is established to the extent a current benefit has been recognized on a tax return for matters that are considered contingent upon the outcome of an uncertain tax position. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable.
	We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our financial position. Therefore, no reserves for uncertain income tax position have been recorded pursuant to ASC 740. In addition, we did not record a cumulative effect adjustment related to the adoption of ASC 740. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable.
	Earnings (Loss) per Share
	The Company’s basic earnings (loss) per share are calculated by dividing its net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. The Company’s dilutive earnings (loss) per share is calculated by dividing its net income (loss) available to common shareholders 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.
	Fair Value of Financial Instruments
	The Company's financial instruments as defined by FASB ASC 825, “Financial Instruments” include cash, trade accounts receivable, and accounts payable and accrued expenses. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2014.
	FASB ASC 820 “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
		●	Level 1. Observable inputs such as quoted prices in active markets;
		●	Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
		●	Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.
	Revenue Recognition
	The Company's financial statements are prepared under the accrual method of accounting. Revenues are recognized when evidence of an agreement exists, the price is fixed or determinable, collectability is reasonably assured and goods have been delivered or services performed.
	Research and Development
	Research and development costs are expensed as incurred; however, the Company did not incur any such costs.
	Recent Accounting Pronouncements
	The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Income_Taxes

Income Taxes	1 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	NOTE 3–INCOME TAXES
	As of March 31, 2014, the Company had a net operating loss carry forward of $22,606 that may be available to reduce future years’ taxable income through 2034.
	The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. The sources and tax effects of the differences for the periods presented are as follows:
		As of
		31-Mar-14
	Deferred tax assets:
	Net operating tax carry-forwards	$	22,606
	Gross deferred tax asset		22,606
	Valuation allowance		(22,606	)
	Net deferred tax assets	$	-
	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 valuation allowance.

Net_Operating_Losses

Net Operating Losses	1 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Net Operating Losses	'
	NOTE 4–NET OPERATING LOSSES
	As of March 31, 2014, the Company has a net operating loss carry-forward of approximately $22,606, which will expire 20 years from the date the loss was incurred.

Stockholders_Equity

Stockholders' Equity	1 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Stockholders' Equity	'
	NOTE 5–STOCKHOLDERS’ DEFICIT
	The Company was formed with one class of common stock, $0.0001 par value and is authorized to issue 100,000,000 common shares and one class of preferred stock, $0.0001 par value and is authorized to issue 10,000,000 shares. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they chose to do so, elect all of the directors of the Company.
	In March 31, 2014, the Company issued 21,000,000 shares of common stock to its founders, Jeffrey Cocks, Michael Levine and BCIM Management, LP. Jeffrey Cocks and Michael Levine are the Company’s directors and Jeffrey Cocks is the Company’s sole officer. The Company issued this stock to Mr. Cocks, Mr. Levine and BCIM Management, LP in exchange for $2,100 of services rendered to the Company in its formation at a price of $0.0001 per share.
	As of March 31, 2014, there are 21,000,000 shares of common stock outstanding.

Related_Party_Transactions

Related Party Transactions	1 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	NOTE 6–RELATED PARTY TRANSACTIONS
	The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, they may face a conflict in selecting between the Company and his other business interests. The Company has not formulated a policy for the resolution of such conflicts.
	The Company’s three shareholders have advanced $21,100 to fund working capital expenses. These advances are unsecured and do not carry an interest rate or repayment terms; however, the shareholders have orally agreed not to seek repayment until the Company is financially able to repay it.

Going_Concern

Going Concern	1 Months Ended
	Mar. 31, 2014
Going Concern	'
Going Concern	'
	NOTE 7–GOING CONCERN
	The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established a source of revenues to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.
	Management intends to focus on raising additional funds for the second and third quarters going forward. The Company cannot provide any assurance or guarantee that it will be able to generate revenues. Potential investors must be aware if it is unable to raise additional funds through the sale of its common stock and generate sufficient revenues, any investment made into the Company would be lost in its entirety.
	The Company has net losses for the period from February 27, 2014 (inception) to March 31, 2014 of ($22,606). The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Property

Property	1 Months Ended
	Mar. 31, 2014
Property, Plant and Equipment [Abstract]	'
Property	'
	NOTE 8 – PROPERTY
	The Company does not own any property. It operates its business remotely from Canada. Commencing in March 2014, the Company leases a virtual office in Santa Monica, California under an oral agreement from an unrelated third party, which also leases offices to its legal counsel.