Momentous (MMNT) 10-Q 7 Jan 16 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Nov. 30, 2015	Jan. 06, 2016
Document And Entity Information
Entity Registrant Name	Momentous Holdings Corp.
Entity Central Index Key	1,653,876
Document Type	10-Q
Document Period End Date	Nov. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--05-31
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 Common Stock, Shares Outstanding		2,500,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Nov. 30, 2015	May. 31, 2015
Current Assets
Cash	$ 7,141	$ 0
Accounts receivable	128	0
Total Current Assets	7,270	0
Fixed Assets
Property & Equipment, net of accumulated depreciation of $611 and $472, respectively.	719	881
TOTAL ASSETS	7,988	881
Current Liabilities
Accounts payable	1,465	4,993
Advances from related party	19,147	13,320
Total Current Liabilities	20,612	18,313
Total Liabilities	20,612	18,313
Stockholders' Deficit
Preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding as of November 30, 2015 and May 31, 2015 , respectively	0	0
Common stock, $0.001 par value, 75,000,000 shares authorized; 2,500,000 and 2,500,000 shares issued and outstanding as of November 30, 2015 and May 31, 2015 , respectively	2,500	2,500
Additional paid-in capital	7,500	7,500
Accumulated deficit	(23,682)	(18,291)
Stock Subscription Receivable	0	(10,000)
Accumulated other comprehensive income	1,058	859
Total Stockholders' Deficit	(12,624)	(17,432)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 7,988	$ 881

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Nov. 30, 2015	May. 31, 2015
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 611	$ 472
Preferred stock, par value	$ .001	$ .001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ .001	$ .001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	2,500,000	2,500,000
Common stock, shares outstanding	2,500,000	2,500,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014
Income Statement [Abstract]
Revenues	$ 358	$ 333	$ 747	$ 1,108
Cost of Goods Sold	252	125	394	175
Gross Profit	106	208	353	933
Operating Expenses
General and administrative expenses	5,278	0	5,744	178
Total Operating Expenses	5,278	0	5,744	178
Income/(Loss) before Provision for Income Taxes	(5,172)	208	(5,391)	755
Provision for Income Taxes	0	0	0	0
Net Income/(Loss)	(5,172)	208	(5,391)	755
Other Comprehensive Loss
Foreign currency translation adjustment	(313)	734	(198)	364
Total Comprehensive Income/(Loss)	$ (5,484)	$ 942	$ (5,589)	$ 1,119
Net Loss per Share: Basic and Diluted	$ 0	$ 0	$ 0	$ 0
Weighted Average Number of Shares Outstanding: Basic and Diluted	2,500,000	0	2,500,000	0

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income/(loss)	$ (5,391)	$ 755
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expense	170	178
Changes in:
Accounts payable	(3,528)	0
Accounts receivable	(128)	0
Net cash provided by (used in) operating activities	(8,877)	933
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from (repayments to) Director, net	5,827	(1,856)
Proceeds from the sale of common stock	10,000	0
Net cash provided by (used in) financing activities	15,827	(1,856)
Effect of exchange rate changes on cash	192	923
Changes in cash during the period	7,141	0
Cash at beginning of period	0	0
Cash at end of period	7,141	0
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for taxes	0	0
Cash paid for interest	$ 0	$ 0

1. Organization, Description of

1. Organization, Description of Business and Principles of Consolidation	6 Months Ended
	Nov. 30, 2015
Accounting Policies [Abstract]
1. Organization, Description of Business and Principles of Consolidation	We were incorporated as Momentous Holdings Corp. (the “Company”) on May 29, 2015 in the State of Nevada for the purpose of designing, acquiring and developing mobile apps and mobile software for download by end consumers. Prior to forming Momentous Holdings Corp., Mr. Horan, our founder and president, operated the business as a sole proprietor under the dba “Health & Fitness Apps”. He started the business on December 2, 2013, when he purchased a computer, and started working on product designs and the company’s website. The first sales occurred in early 2014, prior to the formation of Momentous Holdings Corp. Subsequently, Mr. Horan contributed the business assets and liabilities of his sole proprietorship into Momentous Holdings Corp., in exchange for 500,000 shares of our common stock. Our overall aim is to design, acquire and develop mobile applications (‘app/apps’) and mobile software for download by end consumers. Our goal is to have a training, health and fitness, well-being app for everyone.

2. Summary of Significant Accou

2. Summary of Significant Accounting Policies	6 Months Ended
	Nov. 30, 2015
Accounting Policies [Abstract]
2. Summary of Significant Accounting Policies	Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as November 30, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the six and three months ended November 30, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Registration statement on Form S-1 for the year ended May 31, 2015 filed with the SEC on December 15, 2015. The consolidated financial statements include the financial statements of Momentous Holdings Corp., and James Horan doing business as Health & Fitness Apps which have been accounted for as a combination of entities under common control. All significant inter-company balances and transactions have been eliminated upon consolidation. The Company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities. Earnings (Loss) Per Share Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report. Estimates and Assumptions Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Revenue Recognition The Company follows FASB ASC 605 “ Revenue Recognition ” and recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: 1. persuasive evidence of an arrangement exists; 2. the product has been shipped or the services have been rendered to the customer; 3. the sales price is fixed or determinable; and, 4. collectability is reasonably assured. Major revenue activities are expected to be generated from the sale of apps, nutrition products, advertising and branded merchandise and clothing. Income Taxes The Company accounts for its income taxes in accordance with ASC No. 740, "Income Taxes". Under Statement 740, a liability method is used whereby deferred tax assets and liabilities are determined based on temporary differences between basis used for financial reporting and income tax reporting purposes. Income taxes are provided based on tax rates in effect at the time such temporary differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not, that the Company will not realize the tax assets through future operations. Depreciation, Amortization and Capitalization Property and equipment is stated at cost. Depreciation is computed by the straight-line method over estimated useful lives (3-7 years). Historical costs are reviewed and evaluated for the net realizable value of the assets. The carrying amount of all long-lived assets is evaluated periodically to determine if adjustment to the depreciation and amortization period or the unamortized balance is warranted. Based upon its most recent analysis, the Company believes that no impairment of long-lived assets existed at November 30, 2015. Long-lived assets such as property and equipment and identifiable intangibles are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable. When required impairment losses on assets to be held and used are recognized based on the fair value of the asset. The fair value is determined based on estimates of future cash flows, market value of similar assets, if available, or independent appraisals, if required. If the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount and fair value of the asset. When fair values are not available, the Company estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets. We did not recognize any impairment losses for any periods presented. We expense software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility of such products is reached. We have determined that technological feasibility is reached shortly before the release of those products and as a result, the development costs incurred after the establishment of technological feasibility and before the release of those products are not material. Start-Up Costs In accordance with ASC 720, “ Start-up Costs”, Foreign Currency Translation The functional currency of the Company is Great British Pounds (GBP). Assets and liabilities of our operations are translated into United States dollar equivalents using the exchange rates in effect at the balance sheet date. Revenues and expenses are translated using the average exchange rates during each period. Adjustments resulting from the process of translating foreign functional currency financial statements into U.S. dollars are included in accumulated other comprehensive income in shareholders’ deficit. Recent Accounting Pronouncements The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.

3. Property and Equipment

3. Property and Equipment	6 Months Ended
	Nov. 30, 2015
Property, Plant and Equipment [Abstract]
3. Property and Equipment	Property consists of equipment purchased for the production of revenues. As of: November 30, May 31, 2015 2015 Equipment $ 1,330 $ 1,353 Less accumulated depreciation 611 472 Equipment, net $ 719 $ 881 Assets are depreciated over their useful lives beginning when placed in service. Depreciation expense was $170 and $347 for the six months to November 30, 2015 and the year ended May 31, 2015, respectively.

4. Income Taxes

4. Income Taxes	6 Months Ended
	Nov. 30, 2015
Income Tax Disclosure [Abstract]
4. Income Taxes	The reconciliation of income tax provision (benefit) at the U.S. statutory rate of 34% for the six months to November 30 and for the year to May 31, 2015 to the Company’s effective tax rate is as follows: November 30, 2015 May 31, 2015 Income tax benefit at statutory rate $ 1,832 $ 1,894 Change in valuation allowance (1,832 ) (1,894 ) Income tax provision $ – $ – The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of November 30, 2015 and May 31, 2015 are as follows: November 30, 2015 May 31, 2015 Net Operating Loss $ 8,051 $ 6,219 Valuation allowance (8,051 ) (6,219 ) Net deferred tax asset $ – $ – The Company has approximately $23,682 of net operating losses (“NOL”) carried forward to offset taxable income, if any, in future years which expire commencing in fiscal 2035. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all deferred tax asset relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized.

5. Going Concern

5. Going Concern	6 Months Ended
	Nov. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
5. Going Concern	The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has generated minimal revenues since inception, has an accumulated deficit of $23,682 and a stockholders deficit of $12,624 at November 30, 2015. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. The continuing operations of the Company are dependent upon its ability to continue to raise adequate financing and to commence profitable operations in the future and repay its liabilities arising from normal business operations as they become due.

6. Significant Transactions wit

6. Significant Transactions with Related Parties	6 Months Ended
	Nov. 30, 2015
Related Party Transactions [Abstract]
6. Significant Transactions with Related Parties	As of November 30, 2015 and May 31, 2015, the balance of the amounts due to the director was $19,147 and $13,320, respectively. The amounts loaned to and from the director are unsecured, non-interest bearing, and had no specific terms of repayment. The Company neither owns nor formally leases any real or personal property, and an officer has provided office services without charge. 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. 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. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

7. Capital Stock

7. Capital Stock	6 Months Ended
	Nov. 30, 2015
Equity [Abstract]
7. Capital Stock	The Company was incorporated on May 29, 2015 in Nevada with authorized capital of 75,000,000 shares of $0.001 par value common stock and 10,000,000 shares of $0.001 par value preferred stock. On May 29, 2015, the Company’s founder, President and CEO, James Horan, subscribed for 1,000,000 common shares, at a price of $0.005 per share. On May 29, 2015, the Company’s former Secretary and Treasurer, Andrew Brown, subscribed for 1,000,000 common shares, at a price of $0.005 per share. On May 29, 2015, the Company’s founder, President and CEO, James Horan, contributed the business assets and liabilities of his sole proprietorship into Momentous Holdings Corp., in exchange for 500,000 shares of our common stock. On September 28, 2015 the Company received the $10,000 in respect of James Horan’s subscription of 1,000,000 common shares, at a price of $0.005 per share and Andrew Brown’s subscription of 1,000,000 common shares, at a price of $0.005 per share. There were 2,500,000 shares of common stock issued and outstanding at November 30, 2015. There were no shares of preferred stock issued and outstanding at November 30, 2015.

8. Subsequent Events

8. Subsequent Events	6 Months Ended
	Nov. 30, 2015
Subsequent Events [Abstract]
8. Subsequent Events	In accordance with ASC 855-10, the Company has evaluated events subsequent to November 30, 2015 through the date of these financial statements were available to be issued.

2. Summary of Significant Acc14

2. Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Nov. 30, 2015
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as November 30, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the six and three months ended November 30, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Registration statement on Form S-1 for the year ended May 31, 2015 filed with the SEC on December 15, 2015. The consolidated financial statements include the financial statements of Momentous Holdings Corp., and James Horan doing business as Health & Fitness Apps which have been accounted for as a combination of entities under common control. All significant inter-company balances and transactions have been eliminated upon consolidation. The Company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities.
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report.
Estimates and Assumptions	Estimates and Assumptions Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Revenue Recognition	Revenue Recognition The Company follows FASB ASC 605 “ Revenue Recognition ” and recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: 1. persuasive evidence of an arrangement exists; 2. the product has been shipped or the services have been rendered to the customer; 3. the sales price is fixed or determinable; and, 4. collectability is reasonably assured. Major revenue activities are expected to be generated from the sale of apps, nutrition products, advertising and branded merchandise and clothing.
Income Taxes	Income Taxes The Company accounts for its income taxes in accordance with ASC No. 740, "Income Taxes". Under Statement 740, a liability method is used whereby deferred tax assets and liabilities are determined based on temporary differences between basis used for financial reporting and income tax reporting purposes. Income taxes are provided based on tax rates in effect at the time such temporary differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not, that the Company will not realize the tax assets through future operations.
Depreciation, Amortization and Capitalization	Depreciation, Amortization and Capitalization Property and equipment is stated at cost. Depreciation is computed by the straight-line method over estimated useful lives (3-7 years). Historical costs are reviewed and evaluated for the net realizable value of the assets. The carrying amount of all long-lived assets is evaluated periodically to determine if adjustment to the depreciation and amortization period or the unamortized balance is warranted. Based upon its most recent analysis, the Company believes that no impairment of long-lived assets existed at November 30, 2015. Long-lived assets such as property and equipment and identifiable intangibles are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable. When required impairment losses on assets to be held and used are recognized based on the fair value of the asset. The fair value is determined based on estimates of future cash flows, market value of similar assets, if available, or independent appraisals, if required. If the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount and fair value of the asset. When fair values are not available, the Company estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets. We did not recognize any impairment losses for any periods presented. We expense software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility of such products is reached. We have determined that technological feasibility is reached shortly before the release of those products and as a result, the development costs incurred after the establishment of technological feasibility and before the release of those products are not material.
Start-Up Costs	Start-Up Costs In accordance with ASC 720, “ Start-up Costs”,
Foreign Currency Translation	Foreign Currency Translation The functional currency of the Company is Great British Pounds (GBP). Assets and liabilities of our operations are translated into United States dollar equivalents using the exchange rates in effect at the balance sheet date. Revenues and expenses are translated using the average exchange rates during each period. Adjustments resulting from the process of translating foreign functional currency financial statements into U.S. dollars are included in accumulated other comprehensive income in shareholders’ deficit.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.

3. Property and Equipment (Tabl

3. Property and Equipment (Tables)	6 Months Ended
	Nov. 30, 2015
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	November 30, May 31, 2015 2015 Equipment $ 1,330 $ 1,353 Less accumulated depreciation 611 472 Equipment, net $ 719 $ 881

4. Income Taxes (Tables)

4. Income Taxes (Tables)	6 Months Ended
	Nov. 30, 2015
Income Tax Disclosure [Abstract]
Reconciliation of income tax provision (benefit)	November 30, 2015 May 31, 2015 Income tax benefit at statutory rate $ 1,832 $ 1,894 Change in valuation allowance (1,832 ) (1,894 ) Income tax provision $ – $ –
Schedule of deferred tax assets	November 30, 2015 May 31, 2015 Net Operating Loss $ 8,051 $ 6,219 Valuation allowance (8,051 ) (6,219 ) Net deferred tax asset $ – $ –

3. Property and Equipment (Deta

3. Property and Equipment (Details) - USD ($)	Nov. 30, 2015	May. 31, 2015
Property, Plant and Equipment [Abstract]
Equipment	$ 1,330	$ 1,353
Less accumulated depreciation	611	472
Equipment, net	$ 719	$ 881

3. Property and Equipment (De18

3. Property and Equipment (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	May. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 170	$ 178	$ 347

4. Income Taxes (Details - Inco

4. Income Taxes (Details - Income tax expense) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014	May. 31, 2015
Income Tax Disclosure [Abstract]
Income tax benefit at statutory rate			$ 1,832		$ 1,894
Change in valuation allowance			(1,832)		(1,894)
Income tax provision	$ 0	$ 0	$ 0	$ 0	$ 0

4. Income Taxes (Details - Defe

4. Income Taxes (Details - Deferred tax assets) - USD ($)	Nov. 30, 2015	May. 31, 2015
Income Tax Disclosure [Abstract]
Net Operating Loss	$ 8,051	$ 6,219
Valuation allowance	(8,051)	(6,219)
Net deferred tax asset	$ 0	$ 0

4. Income Taxes (Details Narrat

4. Income Taxes (Details Narrative)	6 Months Ended
	Nov. 30, 2015USD ($)
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	34.00%
Net operating loss carryforward	$ 23,682
Operating loss carryforward expiration date	Dec. 31, 2035

5. Going Concern (Details Narra

5. Going Concern (Details Narrative) - USD ($)	Nov. 30, 2015	May. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (23,682)	$ (18,291)
Stockholders deficit	$ (12,624)	$ (17,432)

6. Significant Transactions w23

6. Significant Transactions with Related Parties (Details Narrative) - USD ($)	Nov. 30, 2015	May. 31, 2015
Related Party Transactions [Abstract]
Amounts due to a director	$ 19,147	$ 13,320

7. Capital Stock (Details Narra

7. Capital Stock (Details Narrative) - USD ($)	6 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Proceeds from stock subscribed	$ 10,000	$ 0
James Horan
Common stock subscribed, shares	1,000,000
Proceeds from stock subscribed	$ 10,000
Andrew Brown
Common stock subscribed, shares	1,000,000