Document and Entity Information
Document and Entity Information | 6 Months Ended |
Mar. 31, 2018shares | |
Document and Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2018 |
Document Fiscal Year Focus | 2,018 |
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 | 118,421,059 |
Condensed Statements of Operati
Condensed Statements of Operations and Comprehensive Loss.................................................... 3 (Unaudited) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Sep. 30, 2017 | |
Assets | ||
Cash | $ 0 | $ 6,450 |
Inventory (Note 3) | $ 4,683 | $ 4,949 |
Prepaid expenses | 0 | 1,350 |
Total current assets | 4,683 | 12,749 |
Equipment (Note 5) | 3,772 | 0 |
Total assets | 8,455 | 12,749 |
Accounts payable | 3,036 | 1,500 |
Due to related party (Note 4) | 16,293 | 7,793 |
Total liabilities | $ 19,329 | $ 9,293 |
Common stock, Authorized: 300,000,000 common shares, $0.001 par value, 118,421,059 shares issued and outstanding | $ 118,421 | $ 118,421 |
Additional paid-in capital | $ (96,621) | $ (96,621) |
Deficit | (32,674) | (18,344) |
Total stockholders' equity (deficit) | (10,874) | 3,456 |
Total liabilities and stockholders' equity (deficit) | $ 8,455 | $ 12,749 |
Condensed Statements of Operat3
Condensed Statements of Operations and Comprehensive Loss.................................................... 3 (Unaudited) (Parenthetical) - USD ($) | 12 Months Ended | |
Mar. 20, 2018 | Sep. 20, 2017 | |
Income Statement [Abstract] | ||
Common stock, Authorized: 300,000,000 common shares, $0.001 par value, 118,421,059 shares issued and outstanding | $ 118,421 | $ 118,421 |
Condensed Statements of Operat4
Condensed Statements of Operations and Comprehensive Loss - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2018 | Apr. 05, 2017 | Mar. 31, 2018 | Apr. 05, 2017 | |
Income Statement [Abstract] | ||||
Sales revenue | $ 6,850 | $ 1,500 | $ 6,850 | $ 8,950 |
Cost of goods sold | 267 | 102 | 267 | 549 |
Gross profit | 6,583 | 1,398 | 6,583 | 8,401 |
Depreciation (Note 5) | 365 | 0 | 608 | 0 |
General and administrative | 3,122 | 1,976 | 12,105 | 2,793 |
Professional fees | 1,500 | 1,500 | 5,500 | 7,015 |
Rent | 1,350 | 1,350 | 2,700 | 2,700 |
Total expenses | 6,337 | 4,826 | 20,913 | 12,508 |
Net income (loss) and comprehensive income (loss) for the period | 246 | (3,428) | (14,330) | (4,107) |
Weighted average shares outstanding | $ 118,421,059 | $ 88,396,000 | $ 118,421,059 | $ 88,396,000 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - USD ($) | 6 Months Ended | |
Mar. 31, 2018 | Mar. 26, 2017 | |
Operating activities | ||
Net loss for the period | $ (14,330) | $ (4,107) |
Depreciation | 608 | 0 |
Inventory | 266 | (935) |
Prepaid expenses | 1,350 | 2,700 |
Accounts payable and accrued liabilities | 1,536 | 0 |
Net cash used by operating activities | (10,570) | (2,342) |
Purchase of property and equipment | (4,380) | 0 |
Net cash used in investing activities | (4,380) | 0 |
Proceeds from related party loans | 8,500 | 0 |
Proceeds from stock subscriptions | 0 | 10,000 |
Net cash provided by financing activities | 8,500 | 10,000 |
Decrease in cash | (6,450) | 7,658 |
Cash, beginning of period | 6,450 | 3,773 |
Cash, end of period | 0 | 11,431 |
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
Nature of Operations and Contin
Nature of Operations and Continuance of Business | 6 Months Ended |
Mar. 31, 2018 | |
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 and during the period ended March 31, 2018, the Company has a negative cash flow from operating activities, and an accumulated deficit of $32,674 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, 2018 | |
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, 2017. 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, 2018 | |
Inventory [Abstract] | |
Inventory | 3. Inventory As at March 31 2018, the Company has $4,683 (September 30, 2017 - $4,949) of inventory comprised of raw materials for fabric flowers. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Mar. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 4. Related Party Transactions As at March 31, 2018, the Company owed $16,293 (September 30, 2017 - $7,793) to the President of the Company, which is unsecured, non-interest bearing, and due on demand. 7 FERD Notes to the Condensed Financial Statements Period ended March 31, 2018 (Expressed in US dollars) (unaudited) |
Equipment
Equipment | 6 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2018 | |
Equipment [Abstract] | ||
Equipment | 5. Equipment Net Carrying Value Accumulated December 31, September 30, Cost Depreciation 2017 2017 $ $ $ $ Office equipment 4,380 608 3,772 - | 5. Equipment Net Carrying Value Accumulated December 31, September 30, Cost Depreciation 2017 2017 $ $ $ $ Office equipment 4,380 608 3,772 - |
Common Shares
Common Shares | 6 Months Ended |
Mar. 31, 2018 | |
Common Shares [Abstract] | |
Common Shares | 6. Common Shares On February 22, 2018, the Company authorized a forward stock split of its issued and outstanding common shares on a basis of 31.578 new shares for every one old share. In addition, the Company authorized an increase in the number of authorized shares to 10,000,000 preferred shares with a par value of $0.001 per share and 300,000,000 common shares with a par value of $0.001 per share. The effects of the forward stock split have been applied on a retroactive basis. |
Commitment
Commitment | 6 Months Ended |
Mar. 31, 2018 | |
Commitment [Abstract] | |
Commitment | 7. Commitment The Company has an office lease agreement whereby it is required to pay $450 per month until October 1, 2018. 8 |
Significant Accounting Polici13
Significant Accounting Policies (Policies) | 6 Months Ended |
Mar. 31, 2018 | |
Significant Accounting Policies (Policies) [Abstract] | |
Recent Accounting Pronouncements | (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, 2017. 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. |
Equipment (Tables)
Equipment (Tables) | 6 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2018 | |
Equipment (Tables) [Abstract] | ||
Equipment | 5. Equipment Net Carrying Value Accumulated December 31, September 30, Cost Depreciation 2017 2017 $ $ $ $ Office equipment 4,380 608 3,772 - | 5. Equipment Net Carrying Value Accumulated December 31, September 30, Cost Depreciation 2017 2017 $ $ $ $ Office equipment 4,380 608 3,772 - |
Nature of Operations and Cont15
Nature of Operations and Continuance of Business (Details Text) | Mar. 31, 2018USD ($) |
Nature Of Operations And Continuance Of Business_ [Abstract] | |
As at and during the period ended March 31, 2018, the Company has a negative cash flow from operating activities, and an accumulated deficit of $32,674 since inception | $ 32,674 |
Inventory (Details Text)
Inventory (Details Text) - USD ($) | Mar. 31, 2018 | Sep. 30, 2017 |
Inventory_ [Abstract] | ||
As at March 31 2018, the Company has $4,683 (September 30, 2017 - $4,949) of inventory comprised of raw materials for fabric flowers. | $ 4,683 | $ 4,949 |
Related Party Transactions (Det
Related Party Transactions (Details Text) - USD ($) | Mar. 31, 2018 | Sep. 30, 2017 |
Related Party Transactions [Abstract] | ||
As at March 31, 2018, the Company owed $16,293 (September 30, 2017 - $7,793) to the President of the Company, which is unsecured, non-interest bearing, and due on demand. | $ 16,293 | $ 7,793 |
Equipment (Details 1)
Equipment (Details 1) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Equipment__ [Abstract] | ||
Office equipment | $ 4,380 | $ 3,772 |
Accumulated Depreciation | $ 608 |
Common Shares (Details Text)
Common Shares (Details Text) | Feb. 22, 2018USD ($) |
Common Shares__ [Abstract] | |
On February 22, 2018, the Company authorized a forward stock split of its issued and outstanding common shares on a basis of 31.578 new shares for every one old share | $ 31.578 |
Commitment (Details Text)
Commitment (Details Text) | 8 Months Ended |
Oct. 01, 2018USD ($) | |
Commitment [Abstract] | |
The Company has an office lease agreement whereby it is required to pay $450 per month until October 1, 2018. | $ 450 |