Love International (LOVV) 10-K 29 Apr 15 2015 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Jan. 31, 2015	Apr. 23, 2015	Jul. 31, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	QUINTEC CORP
Entity Central Index Key	1605780
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	-30
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		28,933,336
Entity Public Float			$0
Document Type	10-K
Document Period End Date	31-Jan-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY

Balance_Sheets

Balance Sheets (USD $)	Jan. 31, 2015	Jan. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$14,379	$9,608
Prepaid expenses		545
Total current assets	14,379	10,153
PROPERTY AND EQUIPMENT
Property and equipment, net of $591 and $91 depreciation, respectively	826	1,326
TOTAL ASSETS	15,205	11,479
CURRENT LIABILITIES
Accounts payable and accrued liabilities	3,604
Due to related parties	767	767
Total current liabilities	4,371	767
STOCKHOLDERS' EQUITY
Common stock, $0.001 par value, 150,000,000 shares authorized,28,933,336 and 20,000,000 shares issued and outstanding, respectively	28,933	20,000
Additional paid-in capital	17,867
Accumulated deficit	-35,966	-9,288
TOTAL STOCKHOLDERS' EQUITY	10,834	10,712
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$15,205	$11,479

Balance_Sheets_Parentheticals

Balance Sheets (Parentheticals) (USD $)	Jan. 31, 2015	Jan. 31, 2014
Statement of Financial Position [Abstract]
Depreciation on property and equipment (in dollars)	$591	$91
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	28,933,336	20,000,000
Common stock, shares outstanding	28,933,336	20,000,000

Statements_of_Operations

Statements of Operations (USD $)	9 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2015
Income Statement [Abstract]
REVENUES
EXPENSES
General and administrative	9,288	1,909
Professional fees		24,769
Total Expenses	9,288	26,678
Loss before income taxes	-9,288	-26,678
Income tax provision
NET LOSS	($9,288)	($26,678)
BASIC AND DILUTED LOSS PER SHARE	$0	$0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED	20,000,000	22,558,813

Statement_of_Stockholders_Equi

Statement of Stockholders' Equity (USD $)	Common stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at May. 23, 2013
Balance (in shares) at May. 23, 2013
Common stock issued for cash	20,000			20,000
Common shares issued for cash (in shares)	20,000,000
Net loss			-9,288	-9,288
Balance at Jan. 31, 2014	20,000		-9,288	10,712
Balance (in shares) at Jan. 31, 2014	20,000,000
Common stock issued for cash	8,933	17,867		26,800
Common shares issued for cash (in shares)	8,933,336
Net loss			-26,678	-26,678
Balance at Jan. 31, 2015	$28,933	$17,867	($35,966)	$10,834
Balance (in shares) at Jan. 31, 2015	28,933,336

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	9 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	($9,288)	($26,678)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation expense	91	500
Changes in operating assets and liabilities:
Prepaid expenses	-545	545
Accounts payable and accrued liabilities		3,604
Due to related parties	767
Cash used in operating activities	-8,975	-22,029
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	-1,417
Cash used in investing activities	-1,417
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the sale of common stock for cash	20,000	26,800
Cash provided by financing activities	20,000	26,800
Net change in cash	9,608	4,771
CASH, BEGINNING OF PERIOD		9,608
CASH, END OF PERIOD	9,608	14,379
SUPPLEMENTAL CASH FLOW DISCLOSURES
Interest paid
Income taxes paid

INCORPORATION_AND_CONTINUANCE_

INCORPORATION AND CONTINUANCE OF OPERATIONS	12 Months Ended
	Jan. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
INCORPORATION AND CONTINUANCE OF OPERATIONS	NOTE 1. INCORPORATION AND CONTINUANCE OF OPERATIONS
	QUINTEC CORP. ("we", "us", "our" or the "Company") was formed on May 23, 2013, in Nevada. We are engaged in the business of establishing kiosks that are equipped with a 3D printing machine, printing materials, and design files to be marketed and sold under the brand name "3D Xpress". We have not commenced our planned principal operations. The Company's fiscal year end is January 31.
	These financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. We have incurred operating losses amounting to an Accumulated Deficit of $35,966 as of January 31, 2015 and require additional funds to maintain our operations. Management's plans in this regard are to raise equity financing as required.
	These conditions raise substantial doubt about our ability to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty.
	We have not generated any operating revenues to date.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jan. 31, 2015
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2.           SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.
	Estimates and Assumptions
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States of American requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.
	Foreign Currency Transactions
	We are located and operating outside of the United States of America. We maintain our accounting records in U.S. Dollars.  At the transaction date, each asset, liability, revenue and expense is translated into U.S. dollars by the use of the exchange rate in effect at that date. At the period end, monetary assets and liabilities are re-measured by using the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations.
	Cash and Cash Equivalents
	For purposes of the statement of cash flows, cash and cash equivalents include cash and all debt securities with an original maturity of 90 days or less. As at January 31, 2015 and 2014, cash and cash equivalents consist of only cash.
	Fair Value Measurements
	The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.
	The fair value hierarchy is defined into the following three categories:
	Level 1:	Quoted market prices in active markets for identical assets or liabilities
	Level 2:	Observable market-based inputs or inputs that are corroborated by market data
	Level 3:	Unobservable inputs that are not corroborated by market data
	Long-Lived Assets
	In accordance with ASC 360, "Property, Plant and Equipment", the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value, which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.  No impairment loss was recognized during the period from inception on May 23, 2013 through January 31, 2015.
	Stock-Based Compensation
	The Company adopted ASC 718, Compensation – Stock-Based Compensation, to account for its stock options and similar equity instruments issued.  Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period.  ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid.  We did not grant any stock options since inception on May 23, 2013 through January 31, 2015.
	Income Taxes
	Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740, Income Taxes as of its inception. Pursuant to ASC 740 the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.
	Basic and Diluted Loss per Share
	Loss per share is computed using the weighted average number of shares outstanding during the period.  We have adopted ASC 260, "Earnings per Share".  Diluted loss per share for period ended January 31, 2015 and January 31, 2014 was equivalent to basic loss per share as there were no potential dilutive equity instruments.
	New Accounting Pronouncements
	In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 for the reporting period ended January 31, 2015.
	The Company's management has considered all recent accounting pronouncements. Management believes that these recent pronouncements except ASU 2014-10 will not have a material effect on the Company's financial statements.

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Jan. 31, 2015
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 3.           PROPERTY AND EQUIPMENT
	Property and equipment is stated at cost.  Depreciation on property and equipment is computed using the diminishing balance method over the estimated useful lives of the assets.  The estimated useful lives of the assets are as follows:
	Assets	Estimated useful life
	Equipment	3Years
	Property and equipment consisted of the following as at January 31, 2015 and 2014:
			January 31,			January 31,
			2015			2014
	Equipment		$	1,417		$	1,417
	Accumulated depreciation			(591	)		(91	)
	Net property and equipment		$	826		$	1,326
	During the period ended January 31, 2015 and 2014, the Company incurred depreciation expense of $591 and $91, respectively.

DUE_TO_RELATED_PARTY

DUE TO RELATED PARTY	12 Months Ended
	Jan. 31, 2015
Related Party Transactions [Abstract]
DUE TO RELATED PARTY	NOTE 4. DUE TO RELATED PARTY
	As at January 31, 2015 and 2014, the Company owed its president and director $767 for incorporation fees he paid its behalf. The total amount is unsecured, non-interest bearing, and has no specific terms for repayment. As at January 31, 2015 and 2014, the above noted $767 has been included in due to related parties.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Jan. 31, 2015
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 5. STOCKHOLDERS' EQUITY
	During the period ended January 31, 2015, the Company issued 8,933,336 shares of common stock for cash proceeds of $26,800.
	During the period ended January 31 2014, the Company issued 20,000,000 shares of common stock at $0.001 per share for total consideration amount of $20,000 to our sole officer and director.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Jan. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 6. INCOME TAXES
	The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income statutory tax rates to pretax income (loss) from continuing operations as follows:
		Year				Inception
		Ended				(May 23, 2013) to
		January 31,				January 31,
		2015				2014
	Tax benefit at statutory rates		$	9,071			$	3,158
	Change in valuation allowance			(9,071	)			(3,158	)
	Net provision for income taxes		$	-			$	-
	Net deferred tax assets consist of the following components:
			January 31,				January 31,
			2015				2014
	Deferred tax asset:
	Net operating loss carry forwards		$	12,229			$	3,158
	Valuation allowance			(12,229	)			(3,158	)
	Net deferred tax asset		$	-			$	-
	The Company has accumulated net operating loss carryovers of approximately $35,966 as of January 31, 2015 which are available to reduce future taxable income.  Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The tax losses begin to expire in 2034. The fiscal year 2015 remains open to examination by federal tax authorities and other tax jurisdictions.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jan. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7.  SUBSEQUENT EVENTS
	Management has evaluated subsequent events through the date these financial statements were available to be issued.  Based on our evaluation no material events have occurred that require disclosure.

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jan. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.
Estimates and Assumptions	Estimates and Assumptions
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States of American requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.
Foreign Currency Transactions	Foreign Currency Transactions
	We are located and operating outside of the United States of America. We maintain our accounting records in U.S. Dollars.  At the transaction date, each asset, liability, revenue and expense is translated into U.S. dollars by the use of the exchange rate in effect at that date. At the period end, monetary assets and liabilities are re-measured by using the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations.
Cash and Cash Equivalents	Cash and Cash Equivalents
	For purposes of the statement of cash flows, cash and cash equivalents include cash and all debt securities with an original maturity of 90 days or less. As at January 31, 2015 and 2014, cash and cash equivalents consist of only cash.
Fair Value Measurements	Fair Value Measurements
	The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.
	The fair value hierarchy is defined into the following three categories:
	Level 1:	Quoted market prices in active markets for identical assets or liabilities
	Level 2:	Observable market-based inputs or inputs that are corroborated by market data
	Level 3:	Unobservable inputs that are not corroborated by market data
Long-Lived Assets	Long-Lived Assets
	In accordance with ASC 360, "Property, Plant and Equipment", the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value, which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.  No impairment loss was recognized during the period from inception on May 23, 2013 through January 31, 2015.
Stock-Based Compensation	Stock-Based Compensation
	The Company adopted ASC 718, Compensation – Stock-Based Compensation, to account for its stock options and similar equity instruments issued.  Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period.  ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid.  We did not grant any stock options since inception on May 23, 2013 through January 31, 2015.
Income Taxes	Income Taxes
	Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740, Income Taxes as of its inception. Pursuant to ASC 740 the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.
Basic and Diluted Loss per Share	Basic and Diluted Loss per Share
	Loss per share is computed using the weighted average number of shares outstanding during the period.  We have adopted ASC 260, "Earnings per Share".  Diluted loss per share for period ended January 31, 2015 and January 31, 2014 was equivalent to basic loss per share as there were no potential dilutive equity instruments.
New Accounting Pronouncements	New Accounting Pronouncements
	In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 for the reporting period ended January 31, 2015.
	The Company's management has considered all recent accounting pronouncements. Management believes that these recent pronouncements except ASU 2014-10 will not have a material effect on the Company's financial statements.

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Jan. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of estimated useful lives of assets	Assets	Estimated useful life
	Equipment	3Years
Schedule of property and equipment			January 31,			January 31,
			2015			2014
	Equipment		$	1,417		$	1,417
	Accumulated depreciation			(591	)		(91	)
	Net property and equipment		$	826		$	1,326

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Jan. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of federal and state income statutory tax rates to pretax income (loss) from continuing operations		Year				Inception
		Ended				(May 23, 2013) to
		January 31,				January 31,
		2015				2014
	Tax benefit at statutory rates		$	9,071			$	3,158
	Change in valuation allowance			(9,071	)			(3,158	)
	Net provision for income taxes		$	-			$	-
Schedule of net deferred tax assets			January 31,				January 31,
			2015				2014
	Deferred tax asset:
	Net operating loss carry forwards		$	12,229			$	3,158
	Valuation allowance			(12,229	)			(3,158	)
	Net deferred tax asset		$	-			$	-

INCORPORATION_AND_CONTINUANCE_1

INCORPORATION AND CONTINUANCE OF OPERATIONS (Detail Textuals) (USD $)	Jan. 31, 2015	Jan. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	($35,966)	($9,288)

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details) (Equipment)	12 Months Ended
	Jan. 31, 2015
Equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives of assets	3 years

PROPERTY_AND_EQUIPMENT_Details1

PROPERTY AND EQUIPMENT (Details 1) (USD $)	Jan. 31, 2015	Jan. 31, 2014
Property, Plant and Equipment [Abstract]
Equipment	$1,417	$1,417
Accumulated depreciation	-591	-91
Net property and equipment	$826	$1,326

PROPERTY_AND_EQUIPMENT_Detail_

PROPERTY AND EQUIPMENT (Detail Textuals) (USD $)	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense	$591	$91

DUE_TO_RELATED_PARTY_Detail_Te

DUE TO RELATED PARTY (Detail Textuals) (USD $)	Jan. 31, 2015	Jan. 31, 2014
Related Party Transactions [Abstract]
Due to president and director	$767	$767

STOCKHOLDERS_EQUITY_Detail_Tex

STOCKHOLDERS' EQUITY (Detail Textuals) (USD $)	9 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Stockholders Equity [Line Items]
Common shares issued for cash (in shares)			20,000,000
Common stock, par value (in dollars per share)	$0.00	$0.00	$0.00
Proceeds from the sale of common stock for cash	$20,000	$26,800	$20,000
Common stock
Stockholders Equity [Line Items]
Common shares issued for cash (in shares)	20,000,000	8,933,336

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	9 Months Ended	12 Months Ended
	Jan. 31, 2014	Jan. 31, 2015
Income Tax Disclosure [Abstract]
Tax benefit at statutory rates	$3,158	$9,071
Change in valuation allowance	-3,158	-9,071
Net provision for income taxes

INCOME_TAXES_Details_1

INCOME TAXES (Details 1) (USD $)	Jan. 31, 2015	Jan. 31, 2014
Deferred tax asset:
Net operating loss carry forwards	$12,229	$3,158
Valuation allowance	-12,229	-3,158
Net deferred tax asset

INCOME_TAXES_Detail_Textuals

INCOME TAXES (Detail Textuals) (USD $)	Jan. 31, 2015
Income Tax Disclosure [Abstract]
Accumulated net operating loss carryovers	$35,966