Nimtech 10-K 14 Aug 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jul. 31, 2016	Jul. 27, 2017	Jan. 31, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	NIMTECH CORP
Entity Central Index Key	1,622,491
Trading Symbol	NMTT
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Type	10-K
Document Period End Date	Jul. 31, 2016
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2,016
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		6,040,000

Balance Sheets

Balance Sheets - USD ($)	Jul. 31, 2016	Jul. 31, 2015
Current assets
Cash and cash equivalents		$ 5,927
Prepaid expenses		1,650
Accounts receivable		50
Inventory		1,100
Total current assets		8,727
Fixed Assets
Equipment		8,047
Accumulated depreciation		(938)
Total Fixed Assets, net		7,109
Total assets		15,836
Current liabilities
Accounts Payable	6,000
Loan from director		17,387
Total current liabilities	6,000	17,387
Total liabilities	6,000	17,387
Stockholders' deficit
Common stock: 75,000,000 shares authorized, $0.001 par value; 6,040,000 and 6,040,000 shares issued and outstanding as of July 31, 2016 and 2015, respectively	6,040	6,040
Additional paid-in capital	45,549	22,860
Accumulated deficit	(57,589)	(30,451)
Total stockholders' deficit	(6,000)	(1,551)
Total liabilities and stockholders' deficit		$ 15,836

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2016	Jul. 31, 2015
Statement of Financial Position [Abstract]
Common stock, shares authorized	75,000,000	75,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	6,040,000	6,040,000
Common stock, shares outstanding	6,040,000	6,040,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Jul. 31, 2016	Jul. 31, 2015
Expenses
General and Administrative Expenses	$ 27,138	$ 30,315
Total expenses	27,138	30,315
Net loss from operations	(27,138)	(30,315)
Net loss	$ (27,138)	$ (30,315)
Loss per share, basic and diluted	$ (0.004)	$ (0.01)
Weighted average shares outstanding: basic and diluted	6,040,000	4,145,410

Statements of Changes in Stockh

Statements of Changes in Stockholders' Deficit - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Jul. 31, 2014	$ 3,364	$ 3,500		$ (136)
Balance (in shares) at Jul. 31, 2014		3,500,000
Shares issued for cash at $0.01 per share	25,400	$ 2,540	22,860
Shares issued for cash at $0.01 per share (in shares)		2,540,000
Net loss for the year	(30,315)			(30,315)
Balance at Jul. 31, 2015	(1,551)	$ 6,040	22,860	(30,451)
Balance (in shares) at Jul. 31, 2015		6,040,000
Net loss for the year	(27,138)			(27,138)
Deemed Distribution	22,689		22,689
Balance at Jul. 31, 2016	$ (6,000)	$ 6,040	$ 45,549	$ (57,589)
Balance (in shares) at Jul. 31, 2016		6,040,000

Statements of Changes in Stock6

Statements of Changes in Stockholders' Deficit (Parenthetical)	Jul. 31, 2015$ / shares
Statement of Stockholders' Equity [Abstract]
Shares issued for cash per share	$ 0.01

Statements of Cash flows

Statements of Cash flows - USD ($)	12 Months Ended
	Jul. 31, 2016	Jul. 31, 2015
Cash flows from operating activities:
Net loss for the period	$ (27,138)	$ (30,315)
Adjustments to reconcile net loss to net cash (used in) operating activities:
Depreciation	938	938
Changes in operating assets and liabilities:
Decrease/(Increase) in accounts receivable		(50)
Decrease/(Increase) in inventory	337	(1,100)
Decrease/(Increase) in prepaid expenses	(700)	(1,650)
Increase in accounts payable	21,620
Cash flows used in operating activities	(4,943)	(32,177)
Cash flows from investing activities
Decrease in fixed asset
Cash flows provided by investing activities
Cash flows from financing activities:
Proceeds from sale of common stock		25,400
Write off cash account	(984)	11,580
Cash flows provided (used) by financing activities	(984)	36,980
Net increase (decrease) in cash	(5,927)	4,803
Cash, beginning of period	5,927	1,124
Cash, end of period		5,927
Non-cash transaction:
Write off unrelated assets and liabilities	22,689
Supplemental Disclosures:
Interest paid
Income taxes paid

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Jul. 31, 2016
Organization and Nature of Business [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS NIMTECH CORP. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on February 4, 2014.

Going Concern

Going Concern	12 Months Ended
	Jul. 31, 2016
Going Concern [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The Company has generated no revenues and incurred a loss since Inception (February 4, 2014) resulting in an accumulated deficit of $57,589 as of July 31, 2016 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with loans from directors and, or, the private placement of common stock. Management plans to fund operations of the Company through the proceeds from an offering pursuant to a Registration Statement on Form S-1 or private placements of restricted securities or the issuance of stock in lieu of cash for payment of services until such a time as profitable operations are achieved. There are no written agreements in place for such funding or issuance of securities and there can be no assurance that such will be available in the future. Management believes that this plan provides an opportunity for the Company to continue as a going concern. The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jul. 31, 2016
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 July 31 fiscal year end. 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. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. Fair Value of Financial Instruments ASC 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash, prepaid expenses, accounts receivable, accounts payable and the Company’s loan from director approximates its fair value due to their short-term maturity. 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. 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 The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. During the years ended July 31, 2016 and July 31, 2015 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in these periods. Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company’s results of operations, financial position or cash flow.

Common Stock

Common Stock	12 Months Ended
	Jul. 31, 2016
Common Stock [Abstract]
COMMON STOCK	NOTE 4 – COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. On June 5, 2014, the Company issued 3,500,000 shares of common stock to a director for cash proceeds of $3,500 at $0.001 per share. During the year ended July 31, 2015 Company has issued 2,540,000 shares of common stock for cash proceeds of $25,400 at $0.001 per share. There were 6,040,000 shares of common stock issued and outstanding as of July 31, 2016 and 2015. On February 22, 2016, Tianjin Commodity Exchange Company Limited and TJCOMEX Hong Kong Company Limited respectively entered into Common Stock Purchase Agreement (the “Purchase Agreement”) with the Company’s largest shareholder, Mr. Zaixian Wang and Mr. Jianhong Wang, who together hold 99.97% of the equity capital of the Company. Pursuant to the terms of the Purchase Agreement, Mr. Zaixian Wang and Mr. Jianhong Wang transferred to Tianjin Commodity Exchange Company Limited and TJCOMEX Hong Kong Company Limited 6,038,000 shares of common stock of the Company, par value $0.001 per share (“Common Stock”) (such transaction, the “Share Purchase”). The Share Purchase was closed on February 29, 2016. Effective April 8, 2016, Mr. Badria Alhussin, who served as our Chief Executive Officer, Chief Financial Officer, Chief Operating Officer and the sole director, resigned from his officer and director position. Effective April 8, 2016, Our Board appointed (a) Mr. Chuanliu Ni to serve as our chairman of the Board, director and Chief Executive Officer, (b) Ms. Xiaoyan Shen to serve as our Chief Financial Officer and director, (c) Ms. Yang Yang to serve as our director and secretary.

Related Transactions

Related Transactions	12 Months Ended
	Jul. 31, 2016
Related Transactions [Abstract]
RELATED TRANSACTIONS	NOTE 5 – RELATED TRANSACTIONS As of July 31, 2015, a previous director had loaned $17,387 to the Company to provide working capital for its business operations. The loan is unsecured, non-interest bearing and due on demand. As of July 31, 2016, the unrelated assets and liabilities of $22,689 had been written off after the purchase agreement and change in control.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jul. 31, 2016
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Contractual commitments The Company has no contractual commitments. Litigation We were not subject to any legal proceedings during the years ended July 31, 2016 and July 31, 2015 and we know of no material, existing or pending legal proceedings against our Company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Income Taxes

Income Taxes	12 Months Ended
	Jul. 31, 2016
Income Taxes [Abstract]
INCOME TAXES	NOTE 7 – INCOME TAXES As of July 31, 2016, the Company had net operating loss carry forwards of approximately $57,589 that may be available to reduce future years’ taxable income in varying amounts through 2036. Future tax benefits which 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: July 31, 2016 Federal income tax benefit attributable to: Losses incurred in current operations $ 57,589 Less: valuation allowance (57,589 ) 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: July 31, 2016 Deferred tax asset attributable to: Net operating loss carryover $ 19,580 Less: valuation allowance (19,580 ) 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 $57,589 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
	Jul. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8. SUBSEQUENT EVENTS In accordance with ASC 855-10 the Company has analyzed its operations from July 31, 2016 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 other than as disclosed above.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jul. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Accounting Basis	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 July 31 fiscal year end.
Use of Estimates	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.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash, prepaid expenses, accounts receivable, accounts payable and the Company’s loan from director approximates its fair value due to their short-term maturity.
Income Taxes	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.
Stock-Based Compensation	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 The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. During the years ended July 31, 2016 and July 31, 2015 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in these periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company’s results of operations, financial position or cash flow.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jul. 31, 2016
Income Taxes [Abstract]
Summary of provision for Federal income tax	July 31, 2016 Federal income tax benefit attributable to: Losses incurred in current operations $ 57,589 Less: valuation allowance (57,589 ) Net provision for Federal income taxes $ -
Summary of significant items comprising our net deferred tax amount	July 31, 2016 Deferred tax asset attributable to: Net operating loss carryover $ 19,580 Less: valuation allowance (19,580 ) Net deferred tax asset $ -

Going Concern (Details)

Going Concern (Details) - USD ($)	Jul. 31, 2016	Jul. 31, 2015
Going Concern (Textual)
Accumulated deficit	$ (57,589)	$ (30,451)

Common Stock (Details)

Common Stock (Details) - USD ($)	Feb. 22, 2016	Jun. 05, 2014	Jul. 31, 2015	Jul. 31, 2016
Common Stock (Textual)
Common stock, shares authorized			75,000,000	75,000,000
Common stock, par value			$ 0.001	$ 0.001
Common stock, shares issued			6,040,000	6,040,000
Cash proceeds			$ 25,400
Common stock, shares outstanding			6,040,000	6,040,000
Common Stock Purchase Agreement [Member]
Common Stock (Textual)
Common stock purchase agreement, description	The Company’s largest shareholder, Mr. Zaixian Wang and Mr. Jianhong Wang, who together hold 99.97% of the equity capital of the Company. Pursuant to the terms of the Purchase Agreement, Mr. Zaixian Wang and Mr. Jianhong Wang transferred to Tianjin Commodity Exchange Company Limited and TJCOMEX Hong Kong Company Limited 6,038,000 shares of common stock of the Company, par value $0.001 per share (“Common Stock”) (such transaction, the “Share Purchase”). The Share Purchase was closed on February 29, 2016.
Percentage of equity capital	99.97%
Common stock, shares	6,038,000
Common stock, par value	$ 0.001
Director [Member]
Common Stock (Textual)
Common stock, par value		$ 0.001
Common stock, shares issued		3,500,000
Cash proceeds		$ 3,500
Common Stock [Member]
Common Stock (Textual)
Common stock, par value			$ 0.001
Common stock, shares issued			2,540,000
Cash proceeds			$ 25,400

Related Transactions (Details)

Related Transactions (Details) - USD ($)	12 Months Ended
	Jul. 31, 2016	Jul. 31, 2015
Related Transactions (Textual)
Loan from director		$ 17,387
Write off unrelated assets and liabilities	$ 22,689

Income Taxes (Details)

Income Taxes (Details)	12 Months Ended
	Jul. 31, 2016USD ($)
Federal income tax benefit attributable to:
Losses incurred in current operations	$ 57,589
Less: valuation allowance	(57,589)
Net provision for Federal income taxes

Income Taxes (Details 1)

Income Taxes (Details 1)	Jul. 31, 2016USD ($)
Deferred tax asset attributable to:
Net operating loss carryover	$ 19,580
Less: valuation allowance	(19,580)
Net deferred tax asset

Income Taxes (Details Textual)

Income Taxes (Details Textual)	12 Months Ended
	Jul. 31, 2016USD ($)
Income Taxes (Textual)
Operating loss carry forwards	$ 57,589
Cumulative tax effect expected rate	34.00%
Operating loss carry forwards term	2,036
Federal Income Taxes [Member]
Income Taxes (Textual)
Operating loss carry forwards	$ 57,589