Biotricity (BTCY) 10-K 30 Nov 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2015	Nov. 30, 2015	Feb. 28, 2015
Document and Entity Information:
Entity Registrant Name	METASOLUTIONS, INC.
Entity Trading Symbol	mtsu
Document Type	10-K
Document Period End Date	Aug. 31, 2015
Amendment Flag	false
Entity Central Index Key	1,630,113
Current Fiscal Year End Date	--08-31
Entity Common Stock, Shares Outstanding		9,000,000
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 45,000

Balance Sheets

Balance Sheets - USD ($)	Aug. 31, 2015	Aug. 31, 2014
CURRENT ASSETS:
Cash	$ 4,410	$ 0
Prepaid expense and other	14,338	0
Total Current Assets	18,748	0
OTHER ASSETS:
Deferred offering expense	0	0
Intangible asset, net	0	0
Total Other Assets	0	0
TOTAL ASSETS	18,748	0
CURRENT LIABILITIES:
Accounts payable	180,650	120,450
Accrued compensation	48,000	30,000
Loans - unrelated parties	33,672	20,111
TOTAL LIABILITIES	262,322	170,561
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock, $0.001 par value; 1,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized; 9,000,000 and 4,500,000 shares issued and outstanding at August 31, 2015 and 2014, respectively	9,000	4,500
Additional paid in capital	13,300	0
Deficit accumulated during development stage	(265,874)	(175,061)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(243,574)	(170,561)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 18,748	$ 0

Balance Sheets Parentheticals

Balance Sheets Parentheticals - $ / shares	Aug. 31, 2015	Aug. 31, 2014
Parentheticals
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	9,000,000	4,500,000
Common Stock, Shares Outstanding	9,000,000	4,500,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended		36 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015
REVENUE:
Service revenue	$ 0	$ 0	$ 0
Expenses:
Officer compensation	18,000	18,000	48,000
Audit and accounting expense	3,587	0	3,587
Software development costs	23,200	53,600	120,200
Consulting services	34,500	11,250	57,950
Travel/business development	10,311	7,072	26,529
Other expense	1,215	1,150	5,108
Amortization expense	0	0	1,000
Organizational expense	0	0	3,500
Loss before provision for income tax	90,813	91,072	265,874
Provision for income tax	0	0	0
Net loss	$ (90,813)	$ (91,072)	$ (265,874)
Basic and diluted loss per share	$ (0.02)	$ (0.02)
Weighted average common shares outstanding - basic and diluted	5,313,699	4,500,000

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Common Stock Amount	Additional Paid-in-capital	Retained Deficit	Total
Balance - shares issued at Aug. 29, 2012	3,500,000	3,500	0	0	3,500
Shares issued - August 31, 2012	1,000,000	1,000	0	0	1,000
Net loss		$ 0	$ 0	$ (6,164)	$ (6,164)
Balance at Aug. 31, 2012	4,500,000	4,500	0	(6,164)	(1,664)
Net loss		$ 0	$ 0	$ (77,825)	$ (77,825)
Balance at Aug. 31, 2013	4,500,000	4,500	0	(83,989)	(79,489)
Net loss		$ 0	$ 0	$ (91,072)	$ (91,072)
Balance at Aug. 31, 2014	4,500,000	4,500	0	(175,061)	(170,561)
Issuance of common stock - registered offering $0.01 per share	4,500,000	4,500	40,500	0	45,000
Deferred offering costs recognized offset to additional paid in capital		$ 0	$ (27,200)	$ 0	$ (27,200)
Net loss		$ 0	$ 0	$ (90,813)	$ (90,813)
Balance at Aug. 31, 2015	9,000,000	9,000	13,300	(265,874)	(243,574)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended		36 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss	$ (90,813)	$ (91,072)	$ (265,874)
Amortization	0	0	1,000
Shares issued for organizational expense	0	0	3,500
Adjustments to reconcile net loss to cash (used in) operating activities:
Change in prepaid expenses and other	(14,338)	0	(14,338)
Change in accounts payable	60,200	64,850	180,650
Change in accrued compensation	18,000	18,000	48,000
Net Cash (Used in) Operating Activities	(26,951)	(8,222)	(47,062)
CASH FLOW FROM INVESTING ACTIVITIES	0	0	0
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock	45,000	0	45,000
Deferred offering costs paid in cash	(27,200)	0	(27,200)
Loans from unrelated parties	30,061	8,222	50,172
Payment of loans unrelated parties	(16,500)	0	(16,500)
Net Cash Provided by Financing Activities	31,361	8,222	51,472
CHANGE IN CASH	4,410	0	4,410
CASH AT BEGINNING OF PERIOD	0	0	0
CASH AT END OF PERIOD	4,410	0	4,410
Cash paid for:
Interest	0	0	0
Income taxes	0	0	0
Non-cash investing and financing activities:
Stock issued for intangible asset	$ 0	$ 0	$ 1,000

ORGANIZATION

ORGANIZATION	12 Months Ended
	Aug. 31, 2015
ORGANIZATION
ORGANIZATION	NOTE 1 – ORGANIZATION MetaSolutions, Inc. (the Company) was incorporated under the laws of the State of Nevada on August 29, 2012. The Company issued 3,500,000 shares of common stock to its founder at inception in exchange for organizational costs. Following its formation, the Company issued 1,000,000 shares of common stock to our founder, as consideration for the purchase of a business plan along with developmental code and software. Our founder paid approximately $1,000 for the business plan, software and development code. The acquisition was valued at $1,000. The Company has not generated revenues from its planned principal operations and is considered a development stage company as that term is defined by Financial Accounting Standard Board (FASB) Accounting Standards Codification (ASC) 915, Development Stage Entities The Company will acquire and/or develop software and services that will significantly enhance the ability for small to medium sized businesses to control their energy costs through a program. The Company’s products and services will use proprietary technology that will enable businesses to obtain substantial improvements in performance, reliability and usability when it comes to energy equipment and costs.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Aug. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Basis of Accounting The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected an August 31 , year-end. b. Cash Equivalents For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. c. Stock-based Compensation The Company follows ASC 718-10, Stock Compensation d. Use of E stimates and Assumptions Preparation of the 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. e . Earnings (Loss) per Share The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s 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. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. f . Income Taxes Income taxes are provided in accordance with ASC 740, Income Taxes Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. No provision was made for Federal income tax. g . Advertising Advertising will be expensed in the period in which it is incurred. There has been no advertising expense in the reporting period presented. h . Related Software Costs Certain direct purchase and related development costs associated with software are capitalized and include external direct costs for services and payroll costs. These costs include employees devoting time to the software projects principally related to software coding, designing system interfaces and installation and testing of the software. These costs will be recorded as property and equipment and will be amortized over a period of three to five years beginning when the asset is substantially ready for use. Costs incurred during the development stage, as well as maintenance, code development and training costs are expensed as incurred. i . Intangible Assets Intangible assets with finite lives are amortized over their estimated useful life. The Company monitors conditions related to these assets to determine whether events and circumstances warrant a revision to the remaining amortization period. The Company tests its intangible assets with finite lives for potential impairment whenever management concludes events or changes in circumstances indicate that the carrying amount may not be recoverable. The original estimate of an asset's useful life and the impact of an event or circumstance on either an asset's useful life or carrying value involve significant judgment. For the period August 29, 2012 (inception) through August 31, 2012 we recognized $1,000 in amortization expense. Our proprietary business plan and modeling program was placed in service on August 29, 2012. We amortized these costs during the period described above. j . Recently Issued Accounting Pronouncements The Company has reviewed recent accounting pronouncements issued by the FASB (including its EITF), the AICPA, and the SEC and did not or are not believed by management to have a material impact on the Company’s financial statements.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Aug. 31, 2015
GOING CONCERN:
GOING CONCERN	NOTE 3 – GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying financial statements, the Company had negative working capital of $243,574 and a deficit accumulated during the development stage of $265,874 at August 31, 2015. As of August 31, 2015, the Company had no revenues from product or services and had no committed sources of capital or financing. While the Company is attempting to generate revenues from service or software products, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management believes that the actions presently being taken to further implement its business plan and generate additional products and revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to realize revenues and in its ability to raise additional funds, there can be no assurances that it will accomplish either. The Company’s ability to continue as a going concern is dependent upon its ability to achieve profitable operations or obtain adequate financing. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Aug. 31, 2015
SHARE CAPITAL
SHARE CAPITAL	NOTE 4 – SHARE CAPITAL The Company is authorized to issue 100,000,000 shares of common stock ($0.001 par value) and 1,000,000 shares of preferred stock ($0.001 par value) . The Company issued 3,500,000 shares of its common stock to its incorporator (chief executive officer and president), for organization expense and services. These services and direct costs were valued at $3,500. Following its formation, the Company issued 1,000,000 shares of common stock to our incorporator, as consideration for the purchase of a development code, software and a business plan. Our incorporator, incurred approximately $1,000 in costs and other payments to develop this asset. The acquisition of the business plan along with developmental code and software was valued at $1,000. The Company on June 26, 2015 completed its offering pursuant to a registration statement filed on Form S-1. The Company issued 4,500,000 shares of its common stock to 23 investors. The investors paid $0.01 per share for a combined investment of $45,000. At August 31, 2015, there are 9,000,000 shares of common stock issued and outstanding.

DEFERRED OFFERING EXPENSE

DEFERRED OFFERING EXPENSE	12 Months Ended
	Aug. 31, 2015
DEFERRED OFFERING EXPENSE
DEFERRED OFFERING EXPENSE	NOTE 5 – DEFERRED OFFERING EXPENSE Deferred offering expense consisted of accounting fees, legal fees and other fees incurred through the balance sheet date related to our common stock offering. Upon completion of our common stock offering we offset deferred offering expense against the net offering proceeds of $45,000 and recorded this amount to additional paid in capital.

LOANS - UNRELATED PARTIES

LOANS - UNRELATED PARTIES	12 Months Ended
	Aug. 31, 2015
LOANS - UNRELATED PARTIES
LOANS - UNRELATED PARTIES	NOTE 6 – LOANS - UNRELATED PARTIES As of August 31, 2015 the Company owes $33,672 in loan proceeds from one unrelated party. Subsequent to our inception (August 29, 2012) our incorporator and founder established a financial relationship with two unrelated parties. The Company secured two loans in order to fund the Company’s working capital expenses. From these two loans the Company received $30,061 and $8,222 during the years ended August 31, 2015 and 2014, respectively. The Company repaid $16,500 in principal on the two unrelated party notes. The two loans were unsecured and carry no interest rate or repayment terms.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Aug. 31, 2015
INCOME TAXES
INCOME TAXES	NOTE 7 – INCOME TAXES As of August 31, 2015 and 2014, the Company had net operating loss carry forwards of $265,874 and $175,061, respectively . These amounts may be available to reduce future years’ taxable income. As of August 31, 2015 As of August 31, 2014 Deferred tax assets: Net operating tax carry-forwards $ 93,056 $ 61,271 Other - - Gross deferred tax assets 93,056 61,271 Valuation allowance ( 93,056 ) ( 61,271 ) Net deferred tax assets $ - $ - Realization of deferred tax asset 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Aug. 31, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS The Company evaluated all events that occurred after the balance sheet date of August 31, 2015 through the date these financial statements were issued. The Company determined that it has no reportable subsequent events.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2015
SIGNIFICANT ACCOUNTING POLICIES (Policies):
Basis of Accounting, Policy	a. Basis of Accounting The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected an August 31 , year-end.
Cash Equivalents, Policy	b. Cash Equivalents For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
Stock-based Compensation	c. Stock-based Compensation The Company follows ASC 718-10, Stock Compensation
Use of Estimates and Assumptions	d. Use of E stimates and Assumptions Preparation of the 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.
Earnings (Loss) per Share	e . Earnings (Loss) per Share The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s 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. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.
Income Taxes	f . Income Taxes Income taxes are provided in accordance with ASC 740, Income Taxes Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. No provision was made for Federal income tax.
Advertising	g . Advertising Advertising will be expensed in the period in which it is incurred. There has been no advertising expense in the reporting period presented.
Related Software Costs	h . Related Software Costs Certain direct purchase and related development costs associated with software are capitalized and include external direct costs for services and payroll costs. These costs include employees devoting time to the software projects principally related to software coding, designing system interfaces and installation and testing of the software. These costs will be recorded as property and equipment and will be amortized over a period of three to five years beginning when the asset is substantially ready for use. Costs incurred during the development stage, as well as maintenance, code development and training costs are expensed as incurred.
Intangible Assets	i . Intangible Assets Intangible assets with finite lives are amortized over their estimated useful life. The Company monitors conditions related to these assets to determine whether events and circumstances warrant a revision to the remaining amortization period. The Company tests its intangible assets with finite lives for potential impairment whenever management concludes events or changes in circumstances indicate that the carrying amount may not be recoverable. The original estimate of an asset's useful life and the impact of an event or circumstance on either an asset's useful life or carrying value involve significant judgment. For the period August 29, 2012 (inception) through August 31, 2012 we recognized $1,000 in amortization expense. Our proprietary business plan and modeling program was placed in service on August 29, 2012. We amortized these costs during the period described above.
Recently Issued Accounting Pronouncements	j . Recently Issued Accounting Pronouncements The Company has reviewed recent accounting pronouncements issued by the FASB (including its EITF), the AICPA, and the SEC and did not or are not believed by management to have a material impact on the Company’s financial statements.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Aug. 31, 2015
INCOME TAXES (Tables):
SCHEDULE OF INCOME TAXES (Tables)	As of August 31, 2015 and 2014, the Company had net operating loss carry forwards of $265,874 and $175,061, respectively . These amounts may be available to reduce future years’ taxable income. As of August 31, 2015 As of August 31, 2014 Deferred tax assets: Net operating tax carry-forwards $ 93,056 $ 61,271 Other - - Gross deferred tax assets 93,056 61,271 Valuation allowance ( 93,056 ) ( 61,271 ) Net deferred tax assets $ - $ -

Organization (Details)

Organization (Details)	Aug. 29, 2012USD ($)shares
Organization Details
Issued shares to founder | shares	3,500,000
Founder paid for business plan, software and development code	$ 1,000
Value of the acquisition	$ 1,000

Significant Accounting Polici18

Significant Accounting Policies (Details)	36 Months Ended
	Aug. 31, 2015USD ($)
Intangible Assets Details
Amortization expense recognized	$ 1,000

Going Concern (Details)

Going Concern (Details) - USD ($)	Aug. 31, 2015	Aug. 31, 2014
Going Concern Details
Negative working capital	$ 243,574
Deficit accumulated during the development stage	$ 265,874	$ (175,061)

Share Capital (Details)

Share Capital (Details) - USD ($)	Aug. 31, 2015	Jun. 26, 2015
Share Capital Details
Preferred Stock, par value	$ 0.001
Preferred Stock, Shares Authorized	1,000,000
Common Stock, par value	$ 0.001
Common Stock, Shares Authorized	100,000,000
Shares issued to incorporator for organization expense and services	3,500,000
Services and direct costs valued	$ 3,500
Incorporator incurred in costs and other payments	1,000
Acquisition of the business plan along with developmental code and software valued	$ 1,000
Issued shares to 23 investors		4,500,000
Investors paid per share		$ 0.01
Investors paid for a combined investment		$ 45,000
Common stock issued and outstanding	9,000,000

Deferred Offering Expense (Deta

Deferred Offering Expense (Details)	Aug. 31, 2015USD ($)
Deferred Offering Expense Details
Deferred offering expense offset against net offering proceeds	$ 45,000

Loans - Unrelated Parties (Deta

Loans - Unrelated Parties (Details) - USD ($)	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Loans - Unrelated Parties Details
Owes in loan proceeds from one unrelated party	$ 33,672
Received from two loans from two unrelated parties	30,061	$ 8,222
Repaid in principal on two unrelated party notes	$ 16,500

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Aug. 31, 2015	Aug. 31, 2014
Income Taxes Details
Net operating loss carryforwards	$ 265,874	$ 175,061

Deferred Tax Assets (Details)

Deferred Tax Assets (Details) - USD ($)	Aug. 31, 2015	Aug. 31, 2014
Deferred tax assets:
Net operating tax carry-forwards	$ 93,056	$ 61,271
Other	0	0
Gross deferred tax assets	93,056	61,271
Valuation allowance	(93,056)	(61,271)
Net deferred tax assets	$ 0	$ 0