Document and Entity Information
Document and Entity Information | 6 Months Ended |
Sep. 30, 2016shares | |
Document and Entity Information | |
Entity Registrant Name | PowerMedChairs |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2016 |
Amendment Flag | false |
Entity Central Index Key | 1,575,659 |
Current Fiscal Year End Date | --03-31 |
Entity Common Stock, Shares Outstanding | 2,710,000 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q2 |
Trading Symbol | pcha |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2016 | Mar. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | $ 10,415 | $ 9,238 |
Prepaid expenses | 750 | 750 |
Total Current Assets | 11,165 | 9,988 |
TOTAL ASSETS | 11,165 | 9,988 |
Current Liabilities | ||
Accounts payable | 2,500 | 1,277 |
Due to related party | 20,000 | 10,000 |
Total Current Liabilities | 22,500 | 11,277 |
TOTAL LIABILITIES | 22,500 | 11,277 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Common stock value | 2,710 | 2,710 |
Additional paid-in capital | 49,465 | 49,465 |
Accumulated deficit | (63,510) | (53,464) |
Total Stockholders' Equity (Deficit) | (11,335) | (1,289) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 11,165 | $ 9,988 |
Balance Sheets (parenthetical)
Balance Sheets (parenthetical) - $ / shares | Sep. 30, 2016 | Mar. 31, 2016 |
Balance Sheet | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 2,710,000 | 2,710,000 |
Common stock, shares outstanding | 2,710,000 | 2,710,000 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Income Statement | ||||
Revenues | ||||
Operating Expenses | ||||
General and administrative expenses | 3,365 | 1,595 | 10,046 | 5,168 |
Total expenses | 3,365 | 1,595 | 10,046 | 5,168 |
Loss from operations | (3,365) | (1,595) | (10,046) | (5,168) |
Net income (loss) | $ (3,365) | $ (1,595) | $ (10,046) | $ (5,168) |
Weighted average number of common shares outstanding - basic | 2,710,000 | 2,710,000 | 2,710,000 | 2,710,000 |
Net income (loss) per share | $ 0 | $ 0 | $ 0 | $ 0 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 6 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) | $ (10,046) | $ (5,168) |
Changes in operating assets and liabilities: | ||
Increase (decrease) in accounts payable | (1,223) | |
Net cash used in operating activities | (8,823) | (5,168) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party debt | 10,000 | |
Net cash provided by financing activities | 10,000 | |
Net increase (decrease) in cash | 1,177 | (5,168) |
Cash, beginning of period | 9,238 | 9,981 |
Cash, end of period | 10,415 | 4,813 |
SUPPLEMENTAL DISCLOSURES | ||
Interest paid | ||
Income taxes paid |
Condensed Interim Financial Sta
Condensed Interim Financial Statements | 6 Months Ended |
Sep. 30, 2016 | |
Notes | |
Condensed Interim Financial Statements | NOTE 1 - CONDENSED INTERIM FINANCIAL STATEMENTS The accompanying 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 September 30, 2016 and for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's March 31, 2016 audited financial statements. The results of operations for the period ended September 30, 2016 are not necessarily indicative of the operating results for the full year. Basis of Presentation In the opinion of management, the accompanying balance sheets and related interim statements of income, cash flows, and stockholders' equity include all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Preparing financial statements requires management to make estimates and assumptions the affect the reported amounts of assets, liabilities, revenue and expenses. Actual results and outcomes may differ from management's estimates and assumptions. Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with information included in the Form 10-K Annual Report. |
Going Concern
Going Concern | 6 Months Ended |
Sep. 30, 2016 | |
Notes | |
Going Concern | NOTE 2 - GOING CONCERN These condensed financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As of September 30, 2016, the Company has not recognized any revenues and has accumulated operating losses of approximately $63,510 since inception. The Company's ability to continue as a going concern is contingent upon the successful completion of additional financing arrangements and its ability to achieve and maintain profitable operations. Management plans to raise equity capital to finance the operating and capital requirements of the Company. Amounts raised will be used to further development of the Company's products, to provide financing for marketing and promotion, to secure additional property and equipment, and for other working capital purposes. While the Company is putting forth its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be available for operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might arise from this uncertainty. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Sep. 30, 2016 | |
Notes | |
Significant Accounting Policies | NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES 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 assets and 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. Recent Accounting Pronouncements The Company's management has evaluated all the recently issued accounting pronouncements through the filing date of these financial statements and does not believe that any of these pronouncements will have a material impact on the Company's financial position and results of operations. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Sep. 30, 2016 | |
Notes | |
Related Party Transactions | NOTE 4 - RELATED PARTY TRANSACTIONS On January 20, 2016 an entity associated with an officer loaned the Company $10,000 for working capital. On August 22, 2016 the same entity loaned the Company an additional $10,000 for working capital. As of September 30, 2016, $20,000 of this loan remained due. The loan bears no interest and is due upon demand. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Sep. 30, 2016 | |
Notes | |
Subsequent Events | NOTE 5 - SUBSEQUENT EVENTS The Company has evaluated subsequent events from September 30, 2016 through the date the financial statements are issued, and has determined that no such events have occurred. |
Significant Accounting Polici11
Significant Accounting Policies: Use of Estimates (Policies) | 6 Months Ended |
Sep. 30, 2016 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Significant Accounting Polici12
Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 6 Months Ended |
Sep. 30, 2016 | |
Policies | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company's management has evaluated all the recently issued accounting pronouncements through the filing date of these financial statements and does not believe that any of these pronouncements will have a material impact on the Company's financial position and results of operations. |
Going Concern (Details)
Going Concern (Details) - USD ($) | Sep. 30, 2016 | Mar. 31, 2016 |
Details | ||
Accumulated deficit | $ 63,510 | $ 53,464 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 6 Months Ended | |
Sep. 30, 2016 | Mar. 31, 2016 | |
Details | ||
Proceeds from related party loan | $ 10,000 | |
Due to related party | $ 20,000 | $ 10,000 |