x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE |
o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
CALIFORNIA | 95-2563023 | |
(State or other jurisdiction of incorporation or organization) |
26 Briarwood, Irvine, California | 92604 | |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer o | Accelerated filer | o |
Non-accelerated filer o | Smaller reporting companyx | |
Page | ||
PART I. | FINANCIAL INFORMATION | |
Item 1. | ||
3 | ||
4 | ||
5 | ||
6 | ||
Item 2. | 6 | |
Item 3. | 6 | |
Item 4. | 6 | |
PART II. | OTHER INFORMATION | |
Item 6. | 8 | |
9 |
9/30/2013 | 6/30/2013 | |||||||
(Unaudited) | (Audited) | |||||||
ASSETS | ||||||||
CURRENT ASSETS | ||||||||
Cash | $ | 10,086 | $ | 6,427 | ||||
OTHER ASSETS | ||||||||
Due from affiliate | 214,107 | 217,340 | ||||||
- | - | |||||||
TOTAL ASSETS | $ | 224,193 | $ | 223,767 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
CURRENT LIABILITIES | ||||||||
Accrued professional fees | $ | 11,815 | $ | 8,300 | ||||
Accrued management fees to related party | 17,000 | 15,500 | ||||||
Other accrued expenses | 2,607 | 3,943 | ||||||
Total liabilities | $ | 31,422 | $ | 27,743 | ||||
- | - | |||||||
STOCKHOLDERS' EQUITY | ||||||||
Preferred stock, no par value, 50,000,000 shares authorized, no shares outstanding | - | - | ||||||
Common stock, no par value, 100,000,000 shares authorized, 39,999,942 shares issued and outstanding | $ | 500,000 | $ | 500,000 | ||||
Accumulated deficit | (307,229 | ) | (303,976 | ) | ||||
TOTAL STOCKHOLDERS' EQUITY | $ | 192,771 | $ | 196,024 | ||||
- | ||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 224,193 | $ | 223,767 |
12/31/2012 | 6/30/2012 | |||||||
(Unaudited) | (Audited) | |||||||
ASSETS | ||||||||
CURRENT ASSETS | ||||||||
Cash | $ | 3,607 | $ | 3,264 | ||||
Due from affiliate | 225,539 | 236,796 | ||||||
TOTAL CURRENT ASSETS | $ | 229,146 | $ | 240,060 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
CURRENT LIABILITIES | ||||||||
Accrued professional fees | $ | 5,300 | $ | 9,250 | ||||
Accrued management fees to related party | 21,500 | 21,500 | ||||||
Other accrued expenses | 1,286 | 2,365 | ||||||
TOTAL CURRENT LIABILITIES | 28,086 | 33,115 | ||||||
STOCKHOLDERS' EQUITY | ||||||||
Preferred stock, no par value, authorized 50,000,000 shares, no shares outstanding | - | - | ||||||
Common stock, no par value, 100,000,000 shares authorized, 39,999,942 shares issued and outstanding | 500,000 | 500,000 | ||||||
Accumulated deficit | (298,940 | ) | (293,055 | ) | ||||
TOTAL STOCKHOLDERS' EQUITY | 201,060 | 206,945 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 229,146 | $ | 240,060 |
Quarter Ended | Six Months Ended | |||||||||||||||
12/31/2012 | 12/31/2011 | 12/31/2012 | 12/31/2011 | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
EXPENSES | ||||||||||||||||
Professional fees | $ | 3,500 | $ | 3,000 | $ | 7,065 | $ | 6,000 | ||||||||
General and administrative | 2,366 | 2,780 | 4,763 | 5,518 | ||||||||||||
Management Fees | 1,500 | 1,500 | 3,000 | 3,000 | ||||||||||||
7,366 | 7,280 | 14,828 | 14,518 | |||||||||||||
OTHER INCOME - interest from affiliate | 4,818 | 5,027 | 9,743 | 10,091 | ||||||||||||
GROSS (LOSS)/PROFIT BEFORE TAXATION | (2,548 | ) | (2,253 | ) | (5,085 | ) | (4,427 | ) | ||||||||
TAXATION | - | - | (800 | ) | (800 | ) | ||||||||||
NET LOSS AFTER TAXATION | $ | (2,548 | ) | $ | (2,253 | ) | $ | (5,885 | ) | $ | (5,227 | ) | ||||
NET LOSS PER SHARE | $ | (0.0001 | ) | $ | (0.0001 | ) | $ | (0.0001 | ) | $ | (0.0001 | ) |
Three Months Ended | ||||||||
9/30/2013 | 9/30/2012 | |||||||
(Unaudited) | (Unaudited) | |||||||
EXPENSES | ||||||||
Professional fees | $ | 3,515 | $ | 3,565 | ||||
General and administrative | 2,005 | 2,397 | ||||||
Management fees to related party | 1,500 | 1,500 | ||||||
Total expenses | 7,020 | 7,462 | ||||||
OTHER INCOME - Interest from affiliate | 4,567 | 4,925 | ||||||
LOSS BEFORE INCOME TAXES | (2,453 | ) | (2,537 | ) | ||||
INCOME TAXES | (800 | ) | (800 | ) | ||||
NET LOSS | $ | (3,253 | ) | $ | (3,337 | ) | ||
BASIC AND DILUTED LOSS PER SHARE | - | - | ||||||
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING | 39,999,942 | 39,999,942 |
Six Months Ended | ||||||||
12/31/2012 | 12/31/2011 | |||||||
(Unaudited) | (Unaudited) | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net loss | $ | (5,885 | ) | $ | (5,227 | ) | ||
Adjustments to reconcile net loss to net cash generated from/(used in) operating activities : | ||||||||
Increase/decrease resulting from changes in : | ||||||||
Accrued interest income | (9,743 | ) | (10,091 | ) | ||||
Accrued expense | (5,029 | ) | 7,270 | |||||
Net cash used by operating activities | (20,657 | ) | (8,048 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Cash received from affiliate | 21,000 | 8,000 | ||||||
Net cash provided by financing activities | 21,000 | 8,000 | ||||||
NET INCREASE (DECREASE) IN CASH | 343 | (48 | ) | |||||
CASH, BEGINNING OF PERIOD | 3,264 | 9,265 | ||||||
CASH, END OF PERIOD | $ | 3,607 | $ | 9,217 |
Three Months Ended | ||||||||
9/30/2013 | 9/30/2012 | |||||||
(Unaudited) | (Unaudited) | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net loss | $ | (3,253 | ) | $ | (3,337 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities | ||||||||
Changes in operating assets and liabilites | ||||||||
Accrued interest | (4,567 | ) | (4,925 | ) | ||||
Accrued expenses | 3,679 | 840 | ||||||
Net cash used in operating activities | (4,141 | ) | (7,422 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Cash received from affiliate | 7,800 | 15,000 | ||||||
Net cash provided by financing activities | 7,800 | 15,000 | ||||||
INCREASE IN CASH | 3,659 | 7,578 | ||||||
CASH, BEGINNING OF PERIOD | 6,427 | 3,264 | ||||||
CASH, END OF PERIOD | $ | 10,086 | $ | 10,842 | ||||
Supplemental Cash Flow Disclosures: | ||||||||
Cash paid for: | ||||||||
Income taxes | $ | 800 | $ | 800 |
Note 1. | Interim Financial Statements |
Note 2. | Changes in Significant Accounting Policies |
Note 3. | Due from affiliate |
Item |
Item 1. | Legal Proceedings |
Item 1A. | Risk Factors. |
Item 2. | Unregistered Sale of Equity Securities and Use of |
Item 3. | Defaults upon Senior Securities. |
Item 4. | Submission of Matters to a Vote of Security Holders. |
Item 5. | Other Information. |
a. | 31.1 Certification of the Company's Chief Executive Officer, Sun Tze Whang, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
b. | 31.2 Certification of the Company's Chief Financial Officer/Principal Accounting Officer, Kit H. Tan, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
c. | 32 Certification of the Company's Chief Executive Officer and Chief Financial Officer/Principal Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
d. | 101.INS | XBRL Instance Document |
e. | 101.SCH | XBRL Taxonomy Extension Schema Document |
f. | 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document |
g. | 101.LAB | XBRL Taxonomy Extension Label Linkbase Document |
h. | 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |
INTERDYNE COMPANY | |||
(Registrant) | |||
Date : October 31, 2013 | |||
By : | /s/Sun Tze Whang | ||
Sun Tze Whang | |||
Director /Chief Executive Officer | |||
: | By : | /s/Kit H. Tan | |
Kit H. Tan | |||
Director /Chief Financial Officer/Principal Accounting Officer |