Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Apr. 30, 2016 | Jun. 10, 2016 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | BRIDGEWATER PLATFORMS INC. | |
Entity Central Index Key | 1,623,360 | |
Trading Symbol | bwpi | |
Current Fiscal Year End Date | --07-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 8,333,346 | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Apr. 30, 2016 | Jul. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 5,544 | $ 26,253 |
Accounts receivable | 353 | |
Prepaid expenses | 2,075 | |
TOTAL ASSETS | 7,972 | 26,253 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 12,599 | 2,050 |
Tax payable | 10,000 | |
Unearned revenue | 711 | |
TOTAL LIABILITIES | 13,310 | 12,050 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Common stock, par value $0.001, 75,000,000 shares authorized, 8,333,346 shares issued and outstanding | 8,333 | 8,333 |
Additional paid-in capital | 63,237 | 63,237 |
Accumulated deficit | (75,575) | (56,537) |
Accumulated other comprehensive loss | (1,333) | (830) |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | (5,338) | 14,203 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 7,972 | $ 26,253 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Apr. 30, 2016 | Jul. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 8,333,346 | 8,333,346 |
Common stock, shares outstanding | 8,333,346 | 8,333,346 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | |
Income Statement [Abstract] | ||||
REVENUES | $ 923 | $ 3,844 | $ 20,584 | $ 12,693 |
COST OF GOODS SOLD | 200 | 1,762 | 17,368 | 5,491 |
GROSS PROFIT | 723 | 2,082 | 3,216 | 7,202 |
OPERATING EXPENSES | ||||
General and administrative expenses | 1,232 | 4,612 | 10,367 | 9,685 |
Professional fees | 3,705 | 4,786 | 20,820 | 16,186 |
Total Operating Expenses | 4,937 | 9,398 | 31,187 | 25,871 |
LOSS BEFORE INCOME TAXES | (4,214) | (7,316) | (27,971) | (18,669) |
Income tax recovery | 10,000 | |||
Income tax expense | (1,067) | |||
NET LOSS | (4,214) | (7,316) | (19,038) | (18,669) |
OTHER COMPREHENSIVE LOSS | ||||
Foreign currency translation adjustments | 191 | 420 | (503) | (214) |
TOTAL COMPREHENSIVE LOSS | $ (4,023) | $ (6,896) | $ (19,541) | $ (18,883) |
Basic and Diluted Loss per Common Share (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Basic and Diluted Weighted Average Common Shares Outstanding (in shares) | 8,333,346 | 5,037,453 | 8,333,346 | 4,499,390 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Apr. 30, 2016 | Apr. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (19,038) | $ (18,669) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Contributed services | 8,570 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (353) | (3,755) |
Prepaid expenses | (2,075) | |
Accounts payable and accrued liabilities | 10,549 | (1,578) |
Unearned revenue | 711 | |
Other payable | (10,000) | |
Net cash used in operating activities | (20,206) | (15,432) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Issuance of common stock for cash | 55,000 | |
Net cash provided by financing activities | 55,000 | |
Effects on changes in foreign exchange rate | (503) | (214) |
Net increase (decrease) in cash and cash equivalents | (20,709) | 39,354 |
Cash and cash equivalents - beginning of period | 26,253 | 4,925 |
Cash and cash equivalents - end of period | $ 5,544 | $ 44,279 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | ||
Cash paid for income taxes |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Apr. 30, 2016 | |
Organization And Description Of Business [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Bridgewater Platforms Inc. (the "Company") is a Nevada corporation incorporated on May 6, 2014. It is based in Las Vegas, NV, USA, and the Company's fiscal year end is July 31. On May 20, 2014, the Company incorporated its wholly owned Canadian subsidiary, Bridgewater Construction Ltd. in Etobicoke, Ontario. The Company intends to develop a modular pool-covering system to install a secure platform each Fall that can be walked on and used for whatever purpose the homeowner desires. Each platform will be custom-made from sturdy recycled materials, and when not in use, the company will come back each spring, dissemble, and store the platform at its own secure facility. To date, the Company's activities have been limited to provide formation activities, construction service to local residents, and the raising of equity capital. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Apr. 30, 2016 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's 10-K filed with the Securities and Exchange Commission on October 29, 2015. Basis of Consolidation These financial statements include the accounts of the Company and its wholly-owned subsidiary, Bridgewater Construction Ltd., All material intercompany balances and transactions have been eliminated. Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Apr. 30, 2016 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 3 - GOING CONCERN The Company's consolidated 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 established an ongoing source of revenues sufficient to cover its operating cost, and requires additional capital to commence its operating plan. 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. These factors raise substantial doubt about its ability to continue as a going concern. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan to obtain such resources for the Company include: sales of equity instruments; traditional financing, such as loans; and obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
TAX PAYABLE
TAX PAYABLE | 9 Months Ended |
Apr. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
TAX PAYABLE | NOTE 4 – TAX PAYABLE During the period ended April 30, 2016, the Internal Revenue Service of the United State waived $10,000 penalty previous charged on late corporate tax filing of the Company’s subsidiary. This $10,000 was originally recorded as other expenses for the year ended July 31, 2015 and was recorded as income tax recovery during the period ended April 30, 2016. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Apr. 30, 2016 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS During the period ended April 30, 2016, the Company paid to a company owned by its shareholder for labor service and recorded as cost of goods sold of $3,433 and management fee of $5,651. There is no balance due to this shareholder at April 30, 2016. |
MAJOR CUSTOMER
MAJOR CUSTOMER | 9 Months Ended |
Apr. 30, 2016 | |
Major Customer [Abstract] | |
MAJOR CUSTOMER | NOTE 6 – MAJOR CUSTOMER During the period ended April 30, 2016, the Company has revenue of $15,171 from one customer for a landscaping project provided by the Company which is approximately 74% of total revenue. |
SUMMARY OF SIGNIFICANT ACCOUN12
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Apr. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's 10-K filed with the Securities and Exchange Commission on October 29, 2015. |
Basis of Consolidation | Basis of Consolidation These financial statements include the accounts of the Company and its wholly-owned subsidiary, Bridgewater Construction Ltd., All material intercompany balances and transactions have been eliminated. |
Reclassifications | Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation. |
TAX PAYABLE (Detail Textuals)
TAX PAYABLE (Detail Textuals) - USD ($) | 9 Months Ended | 12 Months Ended |
Apr. 30, 2016 | Jul. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Income tax recovery | $ 10,000 | |
Other expenses | $ 10,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Detail Textuals) | 9 Months Ended |
Apr. 30, 2016USD ($) | |
Related Party Transactions [Abstract] | |
Amount paid to shareholders for labor service | $ 3,433 |
Management fee | $ 5,651 |
MAJOR CUSTOMER (Detail Textuals
MAJOR CUSTOMER (Detail Textuals) - Customer Concentration Risk - Total revenue - One customer | 9 Months Ended |
Apr. 30, 2016USD ($) | |
Revenue, Major Customer [Line Items] | |
Revenue | $ 15,171 |
Percentage of total revenue | 74.00% |