Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Oct. 31, 2013 | Nov. 25, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'MULTI SOLUTIONS II, INC | ' |
Entity Central Index Key | '0000723733 | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Oct-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 1,899,575 |
Condensed_Balance_Sheets
Condensed Balance Sheets (USD $) | Oct. 31, 2013 | Jan. 31, 2013 |
Current Assets: | ' | ' |
Cash | $21,118 | $5,273 |
Total assets | 21,118 | 5,273 |
Current Liabilities: | ' | ' |
Accounts payable and accrued expenses | 4,999 | 3,770 |
Total current liabilities | 4,999 | 3,770 |
Due to shareholder | 232,799 | 153,843 |
Total liabilities | 237,798 | 157,613 |
Shareholders' Deficiency | ' | ' |
Preferred stock, 50,000,000 shares authorized, $0.001 par value; no shares issued or outstanding | 0 | 0 |
Common stock, 200,000,000 shares authorized; $0.001 par value; 1,899,575 and 1,898,727 shares issued and outstanding | 1,900 | 1,899 |
Additional paid-in capital | 8,418,684 | 8,418,685 |
Accumulated deficit | -8,529,007 | -8,529,007 |
Deficit accumulated during the development stage | -108,257 | -43,917 |
Total shareholders' deficiency | -216,680 | -152,340 |
Total liabilities and shareholders' deficiency | $21,118 | $5,273 |
Condensed_Balance_Sheets_Paren
Condensed Balance Sheets (Parenthetical) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 |
Shareholders' Deficiency: | ' | ' |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred Stock, par value (in usd per share) | $0.00 | $0.00 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common Stock, par value (in usd per share) | $0.00 | $0.00 |
Common Stock, shares issued | 1,899,575 | 1,898,727 |
Common Stock, shares outstanding | 1,899,575 | 1,898,727 |
Condensed_Statements_of_Operat
Condensed Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | 15 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' | ' |
REVENUE | $0 | $0 | $0 | $0 | $0 |
OPERATING EXPENSES: | ' | ' | ' | ' | ' |
General and administrative expenses | 12,208 | 27,323 | 50,384 | 64,904 | 87,231 |
Total operating expenses | 12,208 | 27,323 | 50,384 | 64,904 | 87,231 |
LOSS FROM OPERATIONS | -12,208 | -27,323 | -50,384 | -64,904 | -87,231 |
OTHER EXPENSE | ' | ' | ' | ' | ' |
Interest expense | -5,414 | -3,453 | -13,956 | -5,592 | -21,026 |
Total other expense | -5,414 | -3,453 | -13,956 | -5,592 | -21,026 |
LOSS BEFORE TAXES | -17,622 | -30,776 | -64,340 | -70,496 | -108,257 |
Income tax provision | 0 | 0 | 0 | 0 | 0 |
NET LOSS | ($17,622) | ($30,776) | ($64,340) | ($70,496) | ($108,257) |
BASIC AND DILUTED LOSS PER SHARE | ($0.01) | ($0.02) | ($0.03) | ($0.04) | ' |
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 1,899,575 | 1,898,727 | 1,899,298 | 1,898,727 | ' |
Condensed_Statements_of_Shareh
Condensed Statements of Shareholders' Equity (Deficiency) (USD $) | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Deficit during Development Stage |
Beginning balances at Jan. 31, 2013 | ($152,340) | $1,899 | $8,418,685 | ($8,529,007) | ($43,917) |
Shares, Beginning balance at Jan. 31, 2013 | ' | 1,898,727 | ' | ' | ' |
Increase (Decrease) in Shareholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net loss | -64,340 | 0 | 0 | 0 | -64,340 |
Adjustment to outstanding shares per stock transfer amount | 0 | 1 | -1 | 0 | 0 |
Adjustment to outstanding shares per stock transfer amount, shares | ' | 848 | ' | ' | ' |
Ending balances at Oct. 31, 2013 | ($216,680) | $1,900 | $8,418,684 | ($8,529,007) | ($108,257) |
Shares, Ending balance at Oct. 31, 2013 | ' | 1,899,575 | ' | ' | ' |
Condensed_Statements_of_Cash_F
Condensed Statements of Cash Flows (USD $) | 9 Months Ended | 15 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net loss | ($64,340) | ($70,496) | ($108,257) |
Adjustments to reconcile net loss to net cash from operating activities | ' | ' | ' |
Payment of professional fees by shareholder | 0 | 15,869 | 0 |
Increase in accounts payable and accrued expenses | 15,185 | 17,127 | 4,375 |
Net cash used in operating activities | -49,155 | -37,500 | -103,882 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from debt issuance | 65,000 | 60,000 | 125,000 |
Net cash provided by financing activities | 65,000 | 60,000 | 125,000 |
NET CHANGE IN CASH | 15,845 | 22,500 | 21,118 |
CASH AT BEGINNING OF PERIOD | 5,273 | 0 | 0 |
CASH AT END OF PERIOD | 21,118 | 22,500 | 21,118 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ' | ' | ' |
Interest paid | 0 | 0 | 0 |
Income taxes paid | 0 | 0 | 0 |
SCHEDULE OF NON-CASH FINANCING ACTIVITIES: | ' | ' | ' |
Payments of accounts payable by shareholder | $0 | $14,500 | ' |
Summary_of_Significant_Account
Summary of Significant Accounting Policies and Organization | 9 Months Ended |
Oct. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies and Organization | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION | |
(A) Organization and Basis of Presentation | |
Multi Solutions, Inc., (the "Company"), was originally incorporated on July 26, 1982 in New Jersey. On September 21, 2011, Multi Solutions (Florida), Inc., a Florida corporation, was formed for the purpose of merging with the Company, so as to effect a re-domicile of the Company from New Jersey to Florida. In connection with the Merger (as defined below) and in accordance with the terms of the Agreement and Plan of Merger executed by both companies, the shareholders of the New Jersey corporation received .02 shares of new (Florida) common stock for every one share of old (New Jersey) common stock they owned, and all outstanding shares of the New Jersey corporation's common stock were canceled. Pursuant to the Merger, the Florida corporation became the surviving entity. On June 1, 2011, the Company filed an Amended and Restated Certificate of Incorporation with the State of New Jersey to increase its authorized common stock from 40,000,000 to 200,000,000 shares, and to create a class of 50,000,000 shares of blank check preferred stock, $0.001 par value. The Florida corporation is authorized to issue 200,000,000 shares of $0.001 par value common stock and 50,000,000 shares of $0.001 par value preferred stock. The Company and the Florida corporation each signed and filed Articles of Merger with their respective states to effectuate the merger of the New Jersey corporation with and into the Florida corporation (the "Merger"), which Merger became effective on September 29, 2011. Pursuant to the Merger, the Florida corporation became the surviving entity. Effective on October 4, 2011, the Company changed its name to Multi Solutions II, Inc. | |
As of August 17, 2012, the Company's business purpose is to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's business objective for the next 12 months and beyond will be to achieve long-term growth potential through a combination with a business, rather than immediate, short-term earnings. The Company's search for a business opportunity will not be limited to any particular geographical area or industry, including both domestic and international companies. | |
The Company does not have any revenues from operations and, absent a merger or other combination with an operating company, or a public or private sale of the Company's equity or debt securities, the occurrence of either of which cannot be assured, the Company will be dependent upon future loans or equity investments from the Company's present shareholders or management, for which there is no existing commitment. Although the Company has no present commitment from any such parties to provide funding, if the Company reaches the point where the Company needs funds to remain in operation, the Company will attempt to raise funds from the Company's present shareholders or management in the form of equity or debt. If, in such situation, the Company is unable to raise funds from those parties, it is likely that the Company's business would cease operations. | |
The unaudited interim condensed financial statements of the Company as of October 31, 2013 and for the three and nine months ended October 31, 2013 and 2012 included herein have been prepared in accordance with the instructions for Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X under the Securities Act of 1933, as amended. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations relating to interim condensed financial statements. In the opinion of management, the accompanying unaudited interim condensed financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company at October 31, 2013 and the results of its operations and its cash flows for the three and nine months ended October 31, 2013 and 2012. The results of operations and cash flows for such periods are not necessarily indicative of results expected for the full year or for any future period. | |
(B) Development Stage Entity | |
The Company believes that under the guidance outlined in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915, Development Stage Entity ("ASC 915"), it did not become a development stage entity until August 17, 2012, when it commenced operations which constitute “establishing a business” as defined in ASC 810, Consolidation. | |
Prior to the effectiveness of its Registration Statement on Form 10 on August 17, 2012, the Company was solely engaged in organizational activities related to its corporate structure and causing its shares of Common Stock to become publicly tradable (including the filing of the Form 10 Registration Statement) and had not yet engaged in identifying potential merger or acquisition candidates. As of August 17, 2012, the Company commenced its investigation for potential merger or acquisition candidates and thus commenced its business operations, and as of such date became a Development Stage Entity in accordance with ASC 915. All results of the Company after August 17, 2012 have been reported as Development Stage operations. | |
(C) Use of Estimates | |
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. | |
(D) Cash and Cash Equivalents | |
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |
(E) Loss Per Share | |
Basic loss per share is calculated based on income available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted earnings per share is calculated based on income available to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period. | |
(F) Recently Issued Accounting Standards | |
Because the Company has been reorganized and has not yet transacted any business, the new accounting standards have no significant impact on the condensed financial statements and related disclosures. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances. |
Due_to_Shareholder
Due to Shareholder | 9 Months Ended |
Oct. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Due to Shareholder | ' |
DUE TO SHAREHOLDER | |
The Company's majority shareholder incurred legal and professional fees on behalf of the Company of $15,869 for the nine months ended October 31, 2012. | |
In April 2012, the Company executed a credit facility agreement with its majority shareholder providing for the repayment of all costs in excess of $17,500 incurred by the majority shareholder on behalf of the Company. The credit facility provides up to $300,000, as amended on November 22, 2013, of financing to the Company for working capital purposes. Amounts outstanding under the credit facility accrue interest at an annual rate of 11% and mature in December 2015. Principal and interest outstanding under the credit facility totaled $232,799 and $153,843 as of October 31, 2013 and January 31, 2013, respectively. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies and Organization (Policies) | 9 Months Ended |
Oct. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Use of Estimates | ' |
Use of Estimates | |
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. | |
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. | |
Loss Per Share | ' |
Loss Per Share | |
Basic loss per share is calculated based on income available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted earnings per share is calculated based on income available to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period. | |
Recently Issued Accounting Standards | ' |
Recently Issued Accounting Standards | |
Because the Company has been reorganized and has not yet transacted any business, the new accounting standards have no significant impact on the condensed financial statements and related disclosures. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies and Organization (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 | Sep. 21, 2011 | Jun. 01, 2011 | 31-May-11 | Jun. 01, 2011 |
New Jersey Corporation | Florida Corporation | |||||
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' |
New shares issued to shareholders for each acqiree share owned | ' | ' | 0.02 | ' | ' | ' |
Authorized common stock | 200,000,000 | 200,000,000 | ' | ' | 40,000,000 | 200,000,000 |
Authorized blank check preferred stock | 50,000,000 | 50,000,000 | ' | 50,000,000 | ' | ' |
Par value of common stock (in usd per share) | $0.00 | $0.00 | ' | ' | ' | $0.00 |
Par value of blank check preferred stock (in usd per share) | $0.00 | $0.00 | ' | ' | ' | $0.00 |
Due_to_Shareholder_Details
Due to Shareholder (Details) (Majority Shareholder, USD $) | 9 Months Ended | ||||
Oct. 31, 2013 | Oct. 31, 2012 | Jan. 31, 2013 | Oct. 31, 2012 | Nov. 22, 2013 | |
Minimum | Increase in Credit Facility | ||||
Maximum | |||||
Subsequent Event | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Legal and professional fees paid by majority shareholder | ' | $15,869 | ' | ' | ' |
Threshold for repayment of costs incurred by shareholders on behalf of the company | ' | ' | ' | 17,500 | ' |
Line of credit facility provided by shareholder | ' | ' | ' | ' | 300,000 |
Annual rate of interest | 11.00% | ' | ' | ' | ' |
Amount outstanding under the credit facility | $232,799 | ' | $153,843 | ' | ' |