Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Sep. 30, 2015 | Dec. 26, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | AMBER GROUP INC | |
Entity Central Index Key | 1,621,697 | |
Document Type | 10-K | |
Document Period End Date | Sep. 30, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 4,000,000 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,015 |
Balance Sheet
Balance Sheet - USD ($) | Sep. 30, 2015 | Sep. 30, 2014 |
Current Assets | ||
Cash and cash equivalents | $ 427 | |
Total Current Assets | 427 | |
Total Assets | 427 | $ 0 |
Current Liabilities | ||
Accrued expenses | 0 | 0 |
Loan from director | 5,337 | 325 |
Total Liabilities | 5,337 | 325 |
Stockholders' Equity | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 4,000,000 shares issued and outstanding | 4,000 | 4,000 |
Additional paid in capital | 0 | 0 |
Deficit accumulated during the development stage | (8,910) | (4,325) |
Total Stockholders' Equity (Deficit) | (4,910) | (325) |
Total Liabilities and Stockholders' Equity | $ 427 | $ 0 |
Balance Sheet (Parenthetical)
Balance Sheet (Parenthetical) - $ / shares | Sep. 30, 2015 | Sep. 30, 2014 |
Balance Sheet Parenthetical | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 75,000,000 | 75,000,000 |
Common stock shares issued | 4,000,000 | 4,000,000 |
Common stock shares outstanding | 4,000,000 | 4,000,000 |
Statement of Operations
Statement of Operations - USD ($) | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Statement Of Operations | ||
REVENUES | $ 0 | $ 0 |
OPERATING EXPENSES | ||
Business License and Permits | 325 | |
Professional Fees | $ 4,120 | $ 4,000 |
Bank Service Charges | 465 | |
TOTAL OPERATING EXPENSES | 4,585 | $ 4,325 |
NET LOSS FROM OPERATIONS | (4,585) | (4,325) |
PROVISION FOR INCOME TAXES | 0 | 0 |
NET LOSS | $ (4,585) | $ (4,325) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 4,000,000 | 4,000,000 |
Statement of Stockholder's Equi
Statement of Stockholder's Equity - USD ($) | Common Stock | Additional Paid-In Capital | Deficit Accumulated during the Development Stage | Total |
Beginning Balance, Amount at Jul. 10, 2014 | ||||
Beginning Balance, Shares at Jul. 10, 2014 | ||||
Shares issued for cash at $0.001 per share, Amount | $ 4,000 | $ 4,000 | ||
Shares issued for cash at $0.001 per share, Shares | 4,000,000 | |||
Net loss | $ (4,325) | (4,325) | ||
Ending Balance, Amount at Sep. 30, 2014 | $ 4,000 | (4,325) | (325) | |
Ending Balance, Shares at Sep. 30, 2014 | 4,000,000 | |||
Net loss | (4,585) | (4,585) | ||
Ending Balance, Amount at Sep. 30, 2015 | $ 4,000 | $ (8,910) | $ (4,910) | |
Ending Balance, Shares at Sep. 30, 2015 | 4,000,000 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | $ (4,585) | $ (4,325) |
Changes in assets and liabilities: | ||
Increase (decrease) in accrued expenses | 0 | 0 |
CASH FLOWS USED IN OPERATING ACTIVITIES | $ (4,585) | (4,325) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from sale of common stock | 4,000 | |
Loans from director | $ 5,012 | 325 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 5,012 | 4,325 |
NET INCREASE IN CASH | $ 427 | $ 0 |
Cash, beginning of period | ||
Cash, end of period | $ 427 | |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | $ 0 |
Income taxes paid | $ 0 | $ 0 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 12 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS | AMBER GROUP INC. was incorporated under the laws of the State of Nevada on July 10, 2014. We are a development stage company that is in the business of offering local guided tours via our web platform. |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 12 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
NOTE 2 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | Development Stage Company The Company is a development stage company as defined by section 915-10-20 of the FASB Accounting Standards Codification. The Company is devoting substantially all of its efforts on establishing the 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. The Company has elected to adopt early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. 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. 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 September 30, 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. 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 September 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 $427 of cash as of September 30, 2015 and $0 as of September 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 September 30, 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 In September 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-10, "Development Stage Entities". The amendments in this update remove the definition of a development stage entity from the Master Glossary of the ASC thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder 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 in this update are applied retrospectively. The adoption of ASU 2014-10 removed the development stage entity financial reporting requirements for the Company. |
LOANS FROM DIRECTOR
LOANS FROM DIRECTOR | 12 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
NOTE 3 - LOANS FROM DIRECTOR | As of September 30, 2015, director loaned $5,337 for Company's business expenses. The loan is unsecured, non-interest bearing and due on demand. The balance due to the director was $5,337 as of September 30, 2015. |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
NOTE 4 - COMMON STOCK | The Company has 75,000,000, $0.001 par value shares of common stock authorized. September 29, 2014, the Company issued 4,000,000 shares of common stock for cash proceeds of $4,000 at $0.001 per share. There were 4,000,000 shares of common stock issued and outstanding as of September 30, 2015. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
NOTE 5 - 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. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
NOTE 6 - INCOME TAXES | As of September 30, 2015, the Company had net operating loss carry forwards of approximately $4,165 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: September 30, 2014 September 30, 2015 Federal income tax benefit attributable to: Current Operations $ 1,470 $ 1,605 Less: valuation allowance (1,470 ) (1,605 ) Net provision for Federal income taxes $ 0 $ 0 The cumulative tax effect at the expected rate of 35% of significant items comprising our net deferred tax amount is as follows: September 30, 2014 September 30, 2015 Deferred tax asset attributable to: Net operating loss carryover $ 1,470 $ 3,119 Less: valuation allowance (1,470 ) (3,119 ) Net deferred tax asset $ 0 $ 0 Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $4,165 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. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Sep. 30, 2015 | |
Notes to Financial Statements | |
NOTE 7 - SUBSEQUENT EVENTS | In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to December 18, 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. |
SUMMARY OF SIGNIFCANT ACCOUNT14
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Sep. 30, 2015 | |
Summary Of Signifcant Accounting Policies Policies | |
Development Stage Company | The Company is a development stage company as defined by section 915-10-20 of the FASB Accounting Standards Codification. The Company is devoting substantially all of its efforts on establishing the 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. The Company has elected to adopt early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. |
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. |
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 September 30, 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. |
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 September 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 $427 of cash as of September 30, 2015 and $0 as of September 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 September 30, 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 | In September 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-10, "Development Stage Entities". The amendments in this update remove the definition of a development stage entity from the Master Glossary of the ASC thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder 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 in this update are applied retrospectively. The adoption of ASU 2014-10 removed the development stage entity financial reporting requirements for the Company. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Income Taxes Tables | |
Summary of provision for federal income tax | The provision for Federal income tax consists of the following: September 30, 2014 September 30, 2015 Federal income tax benefit attributable to: Current Operations $ 1,470 $ 1,605 Less: valuation allowance (1,470 ) (1,605 ) Net provision for Federal income taxes $ 0 $ 0 |
Summary of deferred tax amount | The cumulative tax effect at the expected rate of 35% of significant items comprising our net deferred tax amount is as follows: September 30, 2014 September 30, 2015 Deferred tax asset attributable to: Net operating loss carryover $ 1,470 $ 3,119 Less: valuation allowance (1,470 ) (3,119 ) Net deferred tax asset $ 0 $ 0 |
SUMMARY OF SIGNIFCANT ACCOUNT16
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Summary Of Signifcant Accounting Policies Details Narrative | |||
Cash and cash equivalents | $ 427 |
LOANS FROM DIRECTOR (Details Na
LOANS FROM DIRECTOR (Details Narrative) - USD ($) | Sep. 30, 2015 | Sep. 30, 2014 |
Loans From Director Details Narrative | ||
Loan from director | $ 5,337 | $ 325 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - $ / shares | Sep. 30, 2015 | Sep. 30, 2014 |
Common Stock Details Narrative | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 75,000,000 | 75,000,000 |
Common stock shares issued | 4,000,000 | 4,000,000 |
Common stock shares outstanding | 4,000,000 | 4,000,000 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Federal income tax benefit attributable to: | ||
Current Operations | $ 1,605 | $ 1,470 |
Less: valuation allowance | (1,605) | (1,470) |
Net provision for Federal income taxes | $ 0 | $ 0 |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | Sep. 30, 2015 | Sep. 30, 2014 |
Deferred tax asset attributable to: | ||
Net operating loss carryover | $ 3,119 | $ 1,470 |
Less: valuation allowance | (3,119) | (1,470) |
Net deferred tax asset | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | 12 Months Ended |
Sep. 30, 2015USD ($) | |
Income Taxes Details Narrative | |
Net operating loss carry forward | $ 4,165 |
Expiry year | 2,031 |