Document and Entity Information
Document and Entity Information | 3 Months Ended |
Sep. 30, 2016shares | |
Document And Entity Information | |
Entity Registrant Name | INTERDYNE CO |
Entity Central Index Key | 51,011 |
Current Fiscal Year End Date | --09-30 |
Entity Filer Category | Smaller Reporting Company |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2016 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q1 |
Entity Common Stock, Shares Outstanding | 39,999,942 |
Entity a Well-known Seasoned Issuer | No |
Entity a Voluntary Filer | No |
Entity's Reporting Status Current | Yes |
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2016 | Jun. 30, 2016 |
CURRENT ASSETS: | ||
Cash | $ 169,722 | $ 2,065 |
Due from related party | 194,104 | |
Total current assets | 169,722 | 196,169 |
TOTAL ASSETS | 169,722 | 196,169 |
CURRENT LIABILITIES: | ||
Accrued professional fees | 4,046 | 6,600 |
Accrued management fees to related party | 3,000 | 21,500 |
Other accrued expenses | 4,614 | 4,615 |
Total current liabilities | 11,660 | 32,715 |
STOCKHOLDERS' EQUITY: | ||
Preferred stock, no par value; 50,000,000 shares authorized; 0 shares issued and outstanding | ||
Common stock, no par value; 100,000,000 shares authorized; 39,999,942 shares issued and outstanding as of 9/30/2016 and 6/30/2016, respectively | 500,000 | 500,000 |
Accumulated deficit | (341,938) | (336,546) |
Total stockholders' equity | 158,062 | 163,454 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 169,722 | $ 196,169 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2016 | Jun. 30, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | ||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | ||
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 39,999,942 | 39,999,942 |
Common stock, shares outstanding | 39,999,942 | 39,999,942 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
OPERATING EXPENSES: | ||
Professional fees | $ 2,296 | $ 3,500 |
General and administrative | 1,896 | 1,986 |
Management fees to related party | 1,500 | 1,500 |
Total expenses | 5,692 | 6,986 |
OPERATING LOSS | (5,692) | (6,986) |
OTHER INCOME: | ||
Interest from related party | 1,100 | 4,070 |
Total other income | 1,100 | 4,070 |
LOSS BEFORE INCOME TAXES | (4,592) | (2,916) |
INCOME TAX EXPENSE | (800) | (800) |
NET LOSS | $ (5,392) | $ (3,716) |
NET LOSS PER COMMON SHARE | ||
BASIC AND DILUTED | $ 0 | $ 0 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ||
BASIC AND DILUTED | 39,999,942 | 39,999,942 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (5,392) | $ (3,716) |
Changes in operating assets and liabilities: | ||
Interest due from related party | (1,100) | (4,070) |
Accrued expenses | (21,055) | 3,260 |
Net cash used in operating activities | (27,547) | (4,526) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash received from related party | 195,204 | 9,000 |
Net cash provided by investing activities | 195,204 | 9,000 |
Net increase/ (decrease) in cash | 167,657 | 4,474 |
CASH, BEGINNING OF YEAR | 2,065 | 7,565 |
CASH, END OF YEAR | 169,722 | 12,039 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Income taxes paid | 800 | 800 |
Interest paid | $ 0 | $ 0 |
Interim Financial Statements
Interim Financial Statements | 3 Months Ended |
Sep. 30, 2016 | |
Interim Financial Statements [Abstract] | |
Interim Financial Statements | Note 1. Interim Financial Statements The accompanying financial statements are unaudited, but in the opinion of the management of Interdyne Company (“the Company”), contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position at September 30, 2016 and the results of operations for the three months ended September 30, 2016 and 2015 and changes in cash flows for the three months ended September 30, 2016 and 2015. Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these financial statements are adequate to make the information presented therein not misleading. For further information, refer to the financial statements and footnotes thereto included in the Company's Annual Report in Form 10-K as of June 30, 2016, as filed with the Securities and Exchange Commission. The results of operations for the three months ended September 30, 2016 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending June 30, 2017. |
Changes in Significant Accounti
Changes in Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2016 | |
Changes in Significant Accounting Policies [Abstract] | |
Changes in Significant Accounting Policies | Note 2. Changes in Significant Accounting Policies There are no newly issued accounting pronouncements that the Company expects to have a material effect on the financial statements and there have been no changes in the significant accounting policies. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 3. Related party transactions In prior years, the Company made advances to Acculogic, Inc., an affiliated company through common ownership and management. The advances bear interest at 8.5% per annum, payable on demand. The balance, including interest, was guaranteed by AMT Datasouth Corp., an affiliated company controlled by the CEO of the Company. The balances due from Acculogic, Inc. as of September 30, 2016 and June 30, 2016 were $0 and $194,104, respectively. During the three months ended September 30, 2016, the total amount due from Acculogic, Inc. was repaid in full and consequently the guarantee ceased to be valid. An officer of the Company charged a management fee totaling $1,500 for each of the three months ended September 30, 2016 and 2015 for the use of a home office, accounting and other services. The balances due to this officer were $3,000 and $21,500 as of September 30, 2016 and June 30, 2016, respectively. |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2016 | |
Related Party Transactions [Abstract] | |||
Interest rate on advances to related party | 8.50% | ||
Due from related party, balances | $ 194,104 | ||
Management fees to company officer | $ 1,500 | $ 1,500 |