Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2015 | Feb. 12, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | 4NET SOFTWARE INC | |
Entity Central Index Key | 812,149 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | FNSI | |
Entity Common Stock, Shares Outstanding | 9,261,017 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Dec. 31, 2015 | Sep. 30, 2015 |
CURRENT ASSETS | ||
Cash | $ 1,356 | $ 1,495 |
TOTAL ASSETS | 1,356 | 1,495 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 5,206 | 3,206 |
Related party note and interest payable | 243,002 | 234,934 |
TOTAL LIABILITIES | $ 248,208 | $ 238,140 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, $.01 par value; authorized - 5,000,000 shares - issued and outstanding - none | $ 0 | $ 0 |
Common stock $.00001 par value; authorized - 100,000,000 shares - issued and outstanding - 9,261,017 on December 31, 2015 and on September 30, 2015 | 93 | 93 |
Capital in excess of par value | 3,198,255 | 3,198,255 |
Accumulated deficit | (3,445,200) | (3,434,993) |
TOTAL STOCKHOLDERS' DEFICIT | (246,852) | (236,645) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 1,356 | $ 1,495 |
CONDENSED BALANCE SHEETS _Paren
CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares | Dec. 31, 2015 | Sep. 30, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 9,261,017 | 9,261,017 |
Common stock, shares, outstanding | 9,261,017 | 9,261,017 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
REVENUES | $ 0 | $ 0 |
OPERATING EXPENSES | ||
General and administrative | 6,305 | 3,950 |
TOTAL OPERATING EXPENSES | (6,305) | (3,950) |
LOSS FROM OPERATIONS | (6,305) | (3,950) |
Other income (expense) | 666 | |
Interest expense | (4,568) | (3,731) |
OTHER INCOME (EXPENSES) | (3,902) | (3,731) |
NET LOSS | $ (10,207) | $ (7,681) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING-Basic and Dilutive (in shares) | 9,261,017 | 9,261,017 |
NET LOSS PER COMMON SHARE - Basic and Dilutive (in dollars per shares) | $ 0 | $ 0 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING ACTIVITIES | ||
Net loss | $ (10,207) | $ (7,681) |
Changes in assets and liabilities: | ||
Increase in accounts payable and Accrued expenses | 6,568 | (5,768) |
Net Cash Used in Operating Activities | (3,639) | (13,449) |
FINANCING ACTIVITIES | ||
Proceeds from related party note payable | 3,500 | 13,000 |
Net Cash Provided by Financing Activities | 3,500 | 13,000 |
Net Decrease in Cash | (139) | (449) |
CASH - BEGINNING OF PERIOD | 1,495 | 1,489 |
CASH - END OF PERIOD | 1,356 | 1,040 |
SUPPLEMENTAL INFORMATION FOR STATEMENTS OF CASH FLOWS | ||
Cash paid for taxes | 0 | 0 |
Cash paid for interests | $ 0 | $ 0 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying condensed interim financial statements of 4net Software, Inc. (the "Company") are unaudited. In the opinion of management, the interim data includes all normally recurring adjustments, necessary for a fair presentation of the results for the interim period. The results of operations for the three months ended December 31, 2015 are not necessarily indicative of the operating results for the entire year. The unaudited condensed interim financial statements included herein are prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosure normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America has been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the disclosures made are adequate to make the information not misleading. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes included in the Company's Form 10-K for the year ended September 30, 2015. USE OF ESTIMATES - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. CASH The Company has cash balance of $1,356 and $1,495 as of December 31, 2015 and September 30, 2015. At December 31, 2015, the Company had no cash equivalents. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Dec. 31, 2015 | |
Going Concern [Abstract] | |
Going Concern [Text Block] | NOTE 2 - GOING CONCERN The accompanying unaudited condensed interim financial statements have been prepared on the basis of accounting principles applicable to a going concern which contemplates the realization of assets and extinguishment of liabilities in the normal course of business. As shown in the accompanying unaudited condensed interim financial statements, the Company has an accumulated deficit of approximately $ 3.4 As of December 31, 2015, the Company has no principal operations or significant revenue producing activities, which raises substantial doubt about its ability to continue as a going concern. The Company's unaudited condensed interim financial statements do not include any adjustments related to the carrying value of assets or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company's ability to establish itself as a going concern is dependent on its ability to merge with another entity. The outcome of this matter cannot be determined at this time. |
CONTROL
CONTROL | 3 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 3 - CONTROL As of December 31, 2015 Mr. Bronson beneficially owns 5,800,210 shares of the Company's common stock. Mr. Bronson's beneficial ownership represents approximately 62.65% of the Company's issued and outstanding shares of common stock. Accordingly, Mr. Bronson has effective control of the Company. In the election of directors, stockholders are not entitled to cumulate their votes for nominees. Accordingly, as a practical matter, Mr. Bronson may be able to elect all of the Company's directors and otherwise direct the affairs of the Company. |
DUE TO RELATED PARTY
DUE TO RELATED PARTY | 3 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 4 - DUE TO RELATED PARTY Since February 3, 2009, the Company's president and principal executive officer has loaned the Company money to fund working capital needs to pay operating expenses. The loans are repayable upon demand and accrue interest at the rate of 10 182,096 60,906 Effective March 1, 2015, the Company relocated its principal offices to 31248 Oak Crest Drive, Suite 110, Westlake Village, California 91361. The Company 's new telephone number is (805) 416-7054. The Company occupies a portion of the offices occupied by BKF Capital Group, Inc. on a month to month basis for a monthly fee of $ 50 |
New Accounting Standards
New Accounting Standards | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 5 - New Accounting Standards In August 2014, the FASB issued ASU No. 2014-15 ("ASU 2014-15"), Presentation of Financial Statements-Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 requires a Company's management to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company is currently evaluating the impact of the adoption of ASU 2014-15 on its consolidated financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN11
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH The Company has cash balance of $1,356 and $1,495 as of December 31, 2015 and September 30, 2015. At December 31, 2015, the Company had no cash equivalents. |
SUMMARY OF SIGNIFICANT ACCOUN12
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($) | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Summary Of Significant Accounting Policies [Line Items] | ||||
Cash | $ 1,356 | $ 1,495 | $ 1,040 | $ 1,489 |
GOING CONCERN (Details Textual)
GOING CONCERN (Details Textual) - USD ($) | Dec. 31, 2015 | Sep. 30, 2015 |
Going Concern [Line Items] | ||
Retained Earnings (Accumulated Deficit) | $ (3,445,200) | $ (3,434,993) |
CONTROL (Details Textual)
CONTROL (Details Textual) - shares | Dec. 31, 2015 | Sep. 30, 2015 |
Control [Line Items] | ||
Common Stock, Shares Issued | 9,261,017 | 9,261,017 |
Majority Shareholder [Member] | ||
Control [Line Items] | ||
Common Stock, Shares Issued | 5,800,210 | |
Beneficial Ownership Percentage | 62.65% |
DUE TO RELATED PARTY (Details T
DUE TO RELATED PARTY (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended |
Mar. 31, 2015 | Dec. 31, 2015 | |
Management [Member] | ||
Related Party Transaction [Line Items] | ||
Related Party Transaction, Rate | 10.00% | |
Notes Payable Related Parties Classified Current Excluding Interest | $ 182,096 | |
Accrued Interest Related Party Current | $ 60,906 | |
BKF Capital Group [Member] | Effective March 1, 2015 [Member] | ||
Related Party Transaction [Line Items] | ||
Monthly Rental Expenses | $ 50 |