Document and Entity Information
Document and Entity Information | 6 Months Ended |
Mar. 31, 2017shares | |
Document and Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | Ferd Corp. |
Entity Central Index Key | 1,687,242 |
Current Fiscal Year End Date | --09-30 |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 75,000,000 |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2017 | Sep. 30, 2016 |
Assets | ||
Cash | $ 11,431 | $ 3,773 |
Inventory (Note 3) | 3,131 | 2,196 |
Prepaid expenses (Note 6) | 0 | 2,700 |
Total assets | 14,562 | 8,669 |
Due to related party (Note 4) | 7,693 | 7,693 |
Total liabilities | $ 7,693 | $ 7,693 |
Common stock, Authorized: 75,000,000 common shares, $0.001 par value, 2,800,000 shares issued and outstanding | 2,800 | 2,800 |
Stock subscriptions received (Note 5) | $ 10,000 | $ 0 |
Deficit | (5,931) | (1,824) |
Total shareholders' equity | 6,869 | 976 |
Total liabilities and shareholders' equity | $ 14,562 | $ 8,669 |
Condensed Balance Sheets (Unau3
Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($) | Mar. 31, 2017 | Sep. 30, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, Authorized | $ 75,000,000 | $ 75,000,000 |
Authorized: 75,000,000 common shares | 2,800,000 | 2,800,000 |
shares issued and outstanding | 2,800 | 2,800 |
Stock subscriptions received (Note 5) | 10,000 | |
Deficit | 5,931 | 1,824 |
Total shareholders' equity | 6,869 | 976 |
Total liabilities and shareholders' equity | $ 14,562 | $ 8,669 |
Condensed Statements of Operati
Condensed Statements of Operations and Comprehensive Loss - USD ($) | 3 Months Ended | 6 Months Ended |
Mar. 31, 2017 | Mar. 31, 2017 | |
Income Statement [Abstract] | ||
Sales revenue | $ 1,500 | $ 8,950 |
Cost of goods sold | 102 | 549 |
Gross profit | 1,398 | 8,401 |
General and administrative | 1,976 | 2,793 |
Professional fees | 1,500 | 7,015 |
Rent | 1,350 | 2,700 |
Total expenses | 4,826 | 12,508 |
Net loss and comprehensive loss for the period | $ (3,428) | $ (4,107) |
Weighted average shares outstanding | 2,800,000 | 2,800,000 |
Condensed Statement of Cash Flo
Condensed Statement of Cash Flows | 6 Months Ended |
Mar. 31, 2017USD ($) | |
Operating activities | |
Net loss for the period | $ (4,107) |
Inventory | (935) |
Prepaid expenses | 2,700 |
Net cash used by operating activities | (2,342) |
Proceeds from stock subscriptions | 10,000 |
Net cash provided by financing activities | 10,000 |
Increase in cash | 7,658 |
Cash, beginning of period | 3,773 |
Cash, end of period | $ 11,431 |
Nature of Operations and Contin
Nature of Operations and Continuance of Business | 6 Months Ended |
Mar. 31, 2017 | |
Nature of Operations and Continuance of Business [Abstract] | |
Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business Ferd (the “Company”) was incorporated in the State of Nevada on July 1, 2016. The Company is a development stage company and its business is producing and selling fabric flowers. These interim condensed financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and ultimately the attainment of profitable operations. As at March 31, 2017, the Company has an accumulated deficit of $5,931 since inception. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. These interim financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Mar. 31, 2017 | |
Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. Significant Accounting Policies (a) Basis of Presentation The accompanying interim condensed financial statements of the Company should be read in conjunction with the financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended September 30, 2016. In the opinion of management, the accompanying interim condensed financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company's financial position and the results of its operations and its cash flows for the periods shown. (b) Use of Estimates The preparation of these interim condensed financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from these estimates. The results of operations and cash flows for the period shown are not necessarily indicative of the results to be expected for the full year. (c) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Inventory
Inventory | 6 Months Ended |
Mar. 31, 2017 | |
Inventory [Abstract] | |
Inventory | 3. Inventory As at March 31, 2017, the Company has $3,131 (September 30, 2016 - $2,196) of inventory comprised of raw materials for fabric flowers. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Mar. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 4. Related Party Transactions As at March 31, 2017, the Company owed $7,693 (September 30, 2016 - $7,693) to the President of the Company, which is unsecured, non-interest bearing, and due on demand. |
Common Stock
Common Stock | 6 Months Ended |
Mar. 31, 2017 | |
Common Stock [Abstract] | |
Common Stock | 5. Common Stock During the period ended March 31, 2017, the Company received stock subscription proceeds of $10,000 for the issuance of 500,000 shares of common stock at $0.02 per share, which have not been issued as at March 31, 2017 and have been recorded as stock subscriptions received. Refer to Note 7. 7 FERD Notes to the Condensed Financial Statements Period ended March 31, 2017 (Expressed in US dollars) (unaudited) |
Commitment
Commitment | 6 Months Ended |
Mar. 31, 2017 | |
Commitment [Abstract] | |
Commitment | 6. Commitment On September 20, 2016, the Company entered into a one year office lease agreement with an unrelated party for $450 per month commencing October 1, 2016. As at March 31, 2017, the Company prepaid $nil (September 30, 2016 - $2,700) of office lease costs and are committed to additional lease payments of $2,700 until September 30, 2017. |
Subsequent Event
Subsequent Event | 6 Months Ended |
Mar. 31, 2017 | |
Subsequent Event [Abstract] | |
Subsequent Event | 7. Subsequent Event On April 27, 2017, the Company issued 950,000 shares of common stock at $0.02 per share for proceeds of $19,000, of which $10,000 was received prior to March 31, 2017. 8 |
Significant Accounting Polici13
Significant Accounting Policies (Policies) | 6 Months Ended |
Mar. 31, 2017 | |
Significant Accounting Policies (Policies) [Abstract] | |
Basis of Presentation | (a) Basis of Presentation The accompanying interim condensed financial statements of the Company should be read in conjunction with the financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended September 30, 2016. In the opinion of management, the accompanying interim condensed financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company's financial position and the results of its operations and its cash flows for the periods shown. (b) Use of Estimates The preparation of these interim condensed financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from these estimates. The results of operations and cash flows for the period shown are not necessarily indicative of the results to be expected for the full year. (c) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Nature of Operations and Cont14
Nature of Operations and Continuance of Business (Details Text) | Mar. 31, 2017USD ($) |
Nature Of Operations And Continuance Of Business_ [Abstract] | |
As at March 31, 2017, the Company has an accumulated deficit of $5,931 since inception | $ 5,931 |
Inventory (Details Text)
Inventory (Details Text) - USD ($) | Mar. 31, 2017 | Sep. 30, 2016 |
Inventory_ [Abstract] | ||
As at March 31, 2017, the Company has $3,131 (September 30, 2016 - $2,196) of inventory comprised of raw materials for fabric flowers. | $ 3,131 | $ 2,196 |
Related Party Transactions (Det
Related Party Transactions (Details Text) - USD ($) | Mar. 31, 2017 | Sep. 30, 2016 |
Related Party Transactions [Abstract] | ||
As at March 31, 2017, the Company owed $7,693 (September 30, 2016 - $7,693) to the President of the Company, which is unsecured, non-interest bearing, and due on demand. | $ 7,693 | $ 7,693 |
Common Stock (Details Text)
Common Stock (Details Text) | Mar. 31, 2017USD ($) |
Common Stock [Abstract] | |
During the period ended March 31, 2017, the Company received stock subscription proceeds of $10,000 for the issuance of 500,000 shares of common stock at $0.02 per share, which have not been issued as at March 31, 2017 and have been recorded as stock subscriptions received | $ 10,000 |
Commitment (Details Text)
Commitment (Details Text) | Mar. 31, 2017USD ($) |
Commitment [Abstract] | |
As at March 31, 2017, the Company prepaid $nil (September 30, 2016 - $2,700) of office lease costs and are committed to additional lease payments of $2,700 until September 30, 2017. | $ 2,700 |
Subsequent Event (Details Text)
Subsequent Event (Details Text) | Apr. 27, 2017USD ($) |
Subsequent_ Event_ [Abstract] | |
On April 27, 2017, the Company issued 950,000 shares of common stock at $0.02 per share for proceeds of $19,000, of which $10,000 was received prior to March 31, 2017. | $ 19,000 |
which $10,000 was received prior to March 31, 2017 | $ 10,000 |