Ondas (ONDS) 10-Q/A 4 Dec 17 2017 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 14, 2017
Document And Entity Information
Entity Registrant Name	ZEV VENTURES INC.
Entity Central Index Key	1,646,188
Document Type	10-Q/A
Document Period End Date	Sep. 30, 2017
Amendment Flag	true
Amendment Description	This 10-Q/A is being filed as the initial 10-Q was filed prior to review by the auditor. This caused changes in the financial statements and footnotes.
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		3,420,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 3,908	$ 2,382
Account receivable	1,209	1,818
Inventory	1,753	1,460
TOTAL ASSETS	6,870	5,660
Current liabilities:
Account payable and accrued expenses	2,500	8,000
Loan from related party	68,133	52,503
Total liabilities	70,633	60,503
Stockholder's Equity (Deficit)
Common stock, $0.0001 par value, 75,000,000 shares authorized; 5,760,000 and 3,000,000 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectivly.	576	300
Additional paid in capital	21,724
Accumulated deficit	(86,063)	(55,143)
Total stockholders' Deficit	(63,763)	(54,843)
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT	$ 6,870	$ 5,660

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	75,000,000	75,000,000
Common stock, issued	5,760,000	3,000,000
Common stock, outstanding	5,760,000	3,000,000

STATEMENT OF OPERATIONS (Unaudi

STATEMENT OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenue	$ 1,042	$ 2,094	$ 2,698	$ 3,694
Cost of sales	(1,556)	(3,211)	(6,046)	(7,653)
Gross profit	(514)	(1,117)	(3,348)	(3,959)
Professional fees
- Auditors' fees	2,500	2,000	5,500	12,000
- Legal fees	2,700		7,200	750
Filing fees	12,844	689	14,611	2,377
Other costs	120		261	28
Total operating expenses	(18,164)	(2,689)	(27,572)	(15,155)
Net loss	$ (18,678)	$ (3,806)	$ (30,920)	$ (19,114)
Net loss per common share - basic and diluted:
Net loss per share attributable to common stockholders
Weighted-average number of common shares outstanding	5,127,174	3,000,000	3,718,388	3,000,000

STATEMENT OF CASH FLOWS (Unaudi

STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net loss	$ (30,920)	$ (19,114)
Changes in operating assets and liabilities
Inventory	(293)	(4,339)
Account receivable	609
Account payable and accrued expenses	(5,500)	526
Changes in operating assets and liabilities	(5,184)	(3,813)
Net cash (used)/earned by operating activities	(36,104)	(22,927)
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Loan from related party	15,630	24,200
Proceed from stock issuance	22,000
Net cash earned from financing activities	37,630	24,200
Decrease in cash and cash equivalents	1,526	1,273
Cash and cash equivalents at beginning of the period	2,382	5,174
Cash and cash equivalents at end of the period	$ 3,908	$ 6,447

NATURE OF BUSINESS AND BASIS OF

NATURE OF BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION Zev Ventures Inc. (the “Company”) is a Nevada Corporation, incorporated under the laws of the State of Nevada on December 22, 2014. The Company’s business plan involves purchasing tickets online for popular sport’s events and reselling them through online marketplaces. Basis of Presentation The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). These financial statements are presented in US dollars. Fiscal Year End The Corporation has adopted a fiscal year end of December 31. Unaudited Interim Financial Statements The interim financial statements of the Company as of September 30, 2017, and for the period then ended, are unaudited. However, in the opinion of management, the interim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary to present fairly the Company’s financial position as of September 30, 2017, and the results of its operations and its cash flows for three and nine month period ended September 30, 2017. These results are not necessarily indicative of the results expected for the calendar year ending December 31, 2017. The accompanying financial statements and notes thereto do not reflect all disclosures required under accounting principles generally accepted in the United States. Refer to the Company’s audited financial statements as of December 31, 2017, for additional information, including significant accounting policies.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies are set out below, these policies have been consistently applied to the period presented, unless otherwise stated: Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 of the financial statements and the reported amounts or revenues and expenses during the reporting period. Actual results could differ from those estimates. Going concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As at September 30, 2017 the Company has a deficit from operations of $86,063 and has not earned sufficient revenues to cover operating costs and has a working capital deficit of $63,793. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2017. The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Cash and cash equivalents Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. Inventory The Company purchases online tickets to sporting events that are held as inventory. Inventories are presented at the lower of cost or net realizable value and are expensed through cost of sales when sold. The company plans to utilize the specific identification method of accounting for inventory since each ticket is identifiable by a unique ticket number and is easy to track from purchase up to sale. As at September 30, 2017 the Company has $1,753 in inventories. Property, plant and equipment The Company does not own any property, plant and equipment. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. Revenue Recognition The Company recognizes revenue when all of the following have occurred: persuasive evidence of an agreement with the customer exists, delivery has occurred or services have been rendered, the selling price is fixed or determinable and collectability of the selling price is reasonably assured. The Company recognizes revenue when the online sale has been processed as delivery has occurred, the selling price has been determined and proceeds have been collected. Cost of Sales Cost of sales consists of the cost of merchandise sold to customers. Income Taxes Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.” Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences). Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled. Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Earnings per Share The Company computes net loss per share in accordance with ASC 260, “Earnings Per Share” ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As September 30, 2017, the Company had no potentially dilutive shares. Fair Value of Financial Instruments The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: - Level 1: Quoted prices in active markets for identical instruments; - Level 2: Other significant observable inputs (including quoted prices in active markets for similar instruments); - Level 3: Significant unobservable inputs (including assumptions in determining the fair value of certain investments).

LOAN FROM RELATED PARTY

LOAN FROM RELATED PARTY	9 Months Ended
	Sep. 30, 2017
Loan From Related Party
LOAN FROM RELATED PARTY	NOTE 3 – LOAN FROM RELATED PARTY September 30, 2017 (unaudited) December 31, 2016 $ $ Loan from related party 68,133 52,503 The above loan is unsecured, bears no interest and has no set terms of repayment. This loan is repayable on demand.

STOCKHOLDER'S DEFICIT

STOCKHOLDER'S DEFICIT	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
STOCKHOLDER'S DEFICIT	NOTE 4 – STOCKHOLDER’S DEFICIT Common Stock On December 22, 2014, the Company issued 3,000,000 shares of common stock to the director of the Company at a price of $0.0001 per share, for $300 cash. During June 2017, the company issued 420,000 shares of common stock to shareholders at a price of $0.05 per share, for $21,000 cash. During July 2017, the company issued 20,000 shares of common stock to shareholders at a price of $0.05 per share, for $1,000 cash. At July 26, 2017 the company made a share split and gave 4 shares for every share, and issued 10,320,000 shares total 13,760,000. At July 26, 2017 the director cancelled by 8,000,000 shares of his.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 5 – INCOME TAXES The benefit for income taxes for the periods ended September 30, 2017 and December 31, 2016 differ from the amount which would be expected as a result of applying the statutory tax rates to the losses before income taxes due primarily to changes in the valuation allowance to fully reserve net deferred tax assets. Realization of deferred tax assets 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. The components of these differences are as follows: September 30, September 30, 2017 2016 (Unaudited) (Unaudited) $ $ Net tax loss carry-forwards (30,920 ) (19,114 ) Statutory rate 15 % 15 % Expected tax recovery (4,638 ) (2,867 ) Change in valuation allowance 4,638 2,867 Income tax provision — — September 30, December 31, 2017 2016 (Unaudited) (Audited) $ $ Components of deferred tax assets: Non capital tax loss carry forwards 12,909 8,271 Less: valuation allowance (12,909 ) (8,271 ) Net deferred tax asset — — The Company has provided a valuation allowance against the full amount of the deferred tax asset due to management’s uncertainty about its realization. As of September 30, 2017 the Company had approximately $86,063 in tax loss carryforwards that can be utilized future periods to reduce taxable income, and expire by the year 2037.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS Details of transactions between the Corporation and related parties are disclosed below. The following entities have been identified as related parties: Zev Turetsky Director and greater than 10% stockholder The following transactions were carried out with related parties: September 30, December 31, 2017 2016 (Unaudited) (Audited) $ $ Balance sheet: Loan from related party 68,133 52,503 From time to time, the president and stockholder of the Company provides advances to the Company for its working capital purposes. These advances bear no interest and are due on demand.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report.

SUMMARY OF SIGNIFICANT ACCOUN13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 of the financial statements and the reported amounts or revenues and expenses during the reporting period. Actual results could differ from those estimates.
Going Concern	Going concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As at September 30, 2017 the Company has a deficit from operations of $86,063 and has not earned sufficient revenues to cover operating costs and has a working capital deficit of $63,793. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2017. The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Cash and Cash Equivalents	Cash and cash equivalents Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000.
Inventory	Inventory The Company purchases online tickets to sporting events that are held as inventory. Inventories are presented at the lower of cost or net realizable value and are expensed through cost of sales when sold. The company plans to utilize the specific identification method of accounting for inventory since each ticket is identifiable by a unique ticket number and is easy to track from purchase up to sale. As at September 30, 2017 the Company has $1,753 in inventories.
Property, Plant and Equipment	Property, plant and equipment The Company does not own any property, plant and equipment.
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when all of the following have occurred: persuasive evidence of an agreement with the customer exists, delivery has occurred or services have been rendered, the selling price is fixed or determinable and collectability of the selling price is reasonably assured. The Company recognizes revenue when the online sale has been processed as delivery has occurred, the selling price has been determined and proceeds have been collected.
Cost of Sales	Cost of Sales Cost of sales consists of the cost of merchandise sold to customers.
Income Taxes	Income Taxes Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.” Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences). Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled. Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Earnings Per Share	Earnings per Share The Company computes net loss per share in accordance with ASC 260, “Earnings Per Share” ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As September 30, 2017, the Company had no potentially dilutive shares.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: - Level 1: Quoted prices in active markets for identical instruments; - Level 2: Other significant observable inputs (including quoted prices in active markets for similar instruments); - Level 3: Significant unobservable inputs (including assumptions in determining the fair value of certain investments).

LOAN FROM RELATED PARTY (Tables

LOAN FROM RELATED PARTY (Tables)	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Schedule of loan due to related party	September 30, 2017 (unaudited) December 31, 2016 $ $ Loan from related party 68,133 52,503 The above loan is unsecured, bears no interest and has no set terms of repayment. This loan is repayable on demand.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of income tax provision	The components of these differences are as follows: September 30, September 30, 2017 2016 (Unaudited) (Unaudited) $ $ Net tax loss carry-forwards (30,920 ) (19,114 ) Statutory rate 15 % 15 % Expected tax recovery (4,638 ) (2,867 ) Change in valuation allowance 4,638 2,867 Income tax provision — —
Schedule of deferred tax assets and liabilities	September 30, December 31, 2017 2016 (Unaudited) (Audited) $ $ Components of deferred tax assets: Non capital tax loss carry forwards 12,909 8,271 Less: valuation allowance (12,909 ) (8,271 ) Net deferred tax asset — —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Schedule of related party transactions	The following transactions were carried out with related parties: September 30, December 31, 2017 2016 (Unaudited) (Audited) $ $ Balance sheet: Loan from related party 68,133 52,503

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Accumulated deficit	$ (86,063)	$ (55,143)
Working capital deficit	(63,793)
FDIC insured amount	250,000
Inventory	$ 1,753

LOAN FROM RELATED PARTY (Detail

LOAN FROM RELATED PARTY (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Loans from related party	$ 68,133	$ 52,503
Mr. Zev Turetsky (Director and greater than 10% stockholder) [Member]
Description of interest rate terms	Bears no interest
Description of repayment terms	Loan is repayable on demand
Loans Payable [Member] | Mr. Zev Turetsky (Director and greater than 10% stockholder) [Member]
Loans from related party	$ 68,133	$ 52,503
Description of collateral	Loan is unsecured
Description of interest rate terms	Bears no interest
Description of repayment terms	Loan is repayable on demand

STOCKHOLDER'S DEFICIT (Details

STOCKHOLDER'S DEFICIT (Details Narrative) - USD ($)	Dec. 22, 2014	Jul. 31, 2017	Jul. 26, 2017	Jun. 30, 2017
Split of common stock (in shares)			10,320,000
Total number of shares split (in shares)			13,760,000
Split ratio			4 shares for every share
Mr. Zev Turetsky (Director and greater than 10% stockholder) [Member]
Number of shares issued for services	3,000,000
Share price (in dollars per share)	$ 0.0001
Number of shares issued for services, value	$ 300
Cancellation of stocks (in shares)			8,000,000
Shareholders [Member]
Number of shares issued for services		20,000		420,000
Share price (in dollars per share)		$ 0.05		$ 0.05
Number of shares issued for services, value		$ 1,000		$ 21,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Net tax loss carry-forwards	$ (30,920)	$ (19,114)
Statutory rate	15.00%	15.00%
Expected tax recovery	$ (4,638)	$ (2,867)
Change in valuation allowance	4,638	2,867
Income tax provision

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Components of deferred tax assets:
Non capital tax loss carry forwards	$ 12,909	$ 8,271
Less: valuation allowance	(12,909)	(8,271)
Net deferred tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	9 Months Ended
	Sep. 30, 2017USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ (86,063)
Tax loss carryforwards, expire period	Dec. 31, 2037

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Loan from related party	$ 68,133	$ 52,503
Loans Payable [Member] | Mr. Zev Turetsky (Director and greater than 10% stockholder) [Member]
Loan from related party	$ 68,133	$ 52,503

RELATED PARTY TRANSACTIONS (D24

RELATED PARTY TRANSACTIONS (Details Narrative) - Mr. Zev Turetsky (Director and greater than 10% stockholder) [Member]	9 Months Ended
	Sep. 30, 2017
Description of interest rate terms	Bears no interest
Description of repayment terms	Loan is repayable on demand