Capital Access Point I 10-Q 30 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018shares
Document And Entity Information
Entity Registrant Name	CAPITAL ACCESS POINT I, INC.
Entity Central Index Key	1,720,259
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
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	250,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current Assets
Cash	$ 40	$ 76
Total Current Assets	40	76
TOTAL ASSETS	40	76
Current Liabilities
Accounts Payable
Due to Stockholder	3,803	962
Total Current Liabilities	3,803	962
TOTAL LIABILITIES	3,803	962
Stockholder's Equity (Deficit)
Preferred stock, ($.0001 par value, 10,000,000 shares authorized; none issued and outstanding.)
Common stock ($.0001 par value, 100,000,000 shares authorized; 250,000 shares issued and outstanding as of March 31, 2018)	25	25
Paid in Capital	75	75
Deficit accumulated during development stage	(3,863)	(986)
Total Stockholder's Equity (Deficit)	(3,763)	(886)
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY (DEFICIT)	$ 40	$ 76

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Stockholder's Equity (Deficit)
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized shares	10,000,000	10,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ .0001	$ .0001
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	250,000	250,000
Common stock, outstanding shares	250,000	250,000

Statements of Operations (Unaud

Statements of Operations (Unaudited)	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Revenues
Revenues
Total Revenues
General & Administrative Expenses	2,877
Total General & Administrative Expenses	2,877
Net Loss	$ (2,877)
Basic loss per share | $ / shares	$ 0
Weighted average number of common shares outstanding | shares	250,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited)	3 Months Ended
	Mar. 31, 2018USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income(loss)	$ (2,877)
Changes in assets and liabilities
Net cash provided by (used in) operating activities	(2,877)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash provided by (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of Common Stock
Increase in Shareholder loans	2,841
Capital in Excess of Par
Net cash provided by (used in) financing activities	2,841
Net increase (decrease) in cash	(36)
Cash at beginning of period	76
Cash at end of period	40
NONCASH INVESTING AND FINANCING ACTIVITIES:
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid
Income taxes paid

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS	CAPITAL ACCESS POINT I, INC. (the “Company”) was incorporated under the laws of the State of Delaware on August 30, 2017 and has been inactive since inception. The Company’s current address is: 477 Madison Avenue Sixth Floor, New York, New York 10022. The Company intends to serve as a vehicle to effect a merger or acquisition, or similar business combination with an entity actively engaged in business which generates revenues. The Company will not restrict its potential candidate Target Businesses to any specific business, industry or geographical location and, thus, may acquire any type of business in any geographical location. The Company has not established any source of revenue to cover its operating costs. The Company will engage in very limited activities, without incurring any liabilities that must be satisfied in cash, until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. The results for the three months ended March 31, 2018 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Registration Statement dated January 16, 2017, filed with the Securities and Exchange Commission. The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2018 and for the related periods presented.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 2. GOING CONCERN	The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company currently has no business or recurring income which raises substantial doubt about its ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s ability to merger with or acquire profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation Accounting The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America. The Company has elected a fiscal year ending on December 31. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash Equivalents The Company considers all highly liquid investments, with maturity of three months or less when purchased, to be cash equivalents. I ncome Taxes Income taxes are provided in accordance with current accounting requirements. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will be not realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. There were no current or deferredincome tax expenses or benefits are reflected in the financial statements due to the Company not being in operations prior to August 30, 2017. Generally, all periods since inception are open to tax examination by taxing authorities. Impact of New Accounting Standards The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow, except for the expected change in financial reporting for development stage companies. A recent FASB proposal will reduce the complexity of reporting for these companies by eliminating the “inception to date” information. Accounting Standard update 2014-10 issued in June 2014, removes the financial reporting distinction between development stage companies and other reporting entities. The Amendment is for public business entities is effective with an annual reporting period beginning after December 15, 2014. Early implementation was available to the company and it has elected early implementation.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 4. RELATED PARTY TRANSACTIONS	Shefford Advisors, LLC (Shefford Advisors), the Company’s sole shareholder (its original incorporator), has paid all expenses incurred by the Company, which includes resident agent fees, basic state and local fees and taxes, and expenses related to the formation of the Company and the professional fees and expenses associated with the preparation and filing of the Company’s registration of its Common Stock on Form 10. On a going forward basis, Shefford Advisors has committed to funding all expenses incurred by the Company through the date of completion of a business combination. Therefore, the Company will be obligated to Shefford Advisors for such expenses until the consummation of a transaction. These payments for expenses are advances and the terms of repayment to Shefford Advisors are not fixed. The Company is indebted to Shefford Advisors in the amount of $3,803 related to such expenses as of March 31, 2018. We utilize the office space and equipment of our stockholder at no cost. Management estimates such amounts to be immaterial. Nelson Shapiro, the Company’s sole executive officer and Director is also the sole shareholder of Shefford Advisors, the Company’s sole shareholder.

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 5. STOCKHOLDER’S EQUITY	Upon formation, the Board of Directors issued 250,000 shares of common stock for $100 to open the Company’s bank account. The stockholders’ equity section of the Company contains the following classes of capital stock as of March 31, 2018: • Common stock, $ 0.0001 par value: 100,000,000 shares authorized; 250,000 shares issued and outstanding • Preferred stock, $ 0.0001 par value: 10,000,000 shares authorized; none issued and outstanding. At present, no rights have been established for the preferred stock and we have no plans to neither issue any preferred stock nor adopt any series, preferences or other classification of preferred stock

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 6. SUBSEQUENT EVENTS	The Company evaluated subsequent events from March 31, 2018 through the date these financial statements were issued and has noted no subsequent events after March 31, 2018 for which disclosure is required.

SUMMARY OF SIGNIFICANT ACCOUN12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Summary Of Significant Accounting Policies Policies
Accounting	The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America. The Company has elected a fiscal year ending on December 31.
Use of Estimates	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash Equivalents	The Company considers all highly liquid investments, with maturity of three months or less when purchased, to be cash equivalents.
Income Taxes	Income taxes are provided in accordance with current accounting requirements. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will be not realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. There were no current or deferredincome tax expenses or benefits are reflected in the financial statements due to the Company not being in operations prior to August 30, 2017. Generally, all periods since inception are open to tax examination by taxing authorities.
Impact of New Accounting Standards	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow, except for the expected change in financial reporting for development stage companies. A recent FASB proposal will reduce the complexity of reporting for these companies by eliminating the “inception to date” information. Accounting Standard update 2014-10 issued in June 2014, removes the financial reporting distinction between development stage companies and other reporting entities. The Amendment is for public business entities is effective with an annual reporting period beginning after December 15, 2014. Early implementation was available to the company and it has elected early implementation.

ORGANIZATION AND DESCRIPTION 13

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	3 Months Ended
	Mar. 31, 2018
Organization And Description Of Business Details Narrative
Incorpation of state	Delaware
Incorpation of date	Aug. 30, 2017

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	3 Months Ended
	Mar. 31, 2018
Summary Of Significant Accounting Policies Details Narrative
Investments maturity period	3 months

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Related Party Transactions Details Narrative
Due to Stockholder	$ 3,803	$ 962

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized shares	10,000,000	10,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ .0001	$ .0001
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	250,000	250,000
Common stock, outstanding shares	250,000	250,000
Common stock, value
Director [Member]
Common stock, issued shares	250,000
Common stock, value	$ 100