Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2016 | May 31, 2016 | Oct. 31, 2015 | |
Document and Entity Information: | |||
Entity Registrant Name | ARBOR ENTECH CORP | ||
Document Type | 10-K | ||
Document Period End Date | Apr. 30, 2016 | ||
Trading Symbol | arbe | ||
Amendment Flag | false | ||
Entity Central Index Key | 710,782 | ||
Current Fiscal Year End Date | --04-30 | ||
Entity Common Stock, Shares Outstanding | 7,350,540 | ||
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 | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Public Float | $ 355,000 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Apr. 30, 2016 | Apr. 30, 2015 |
Current Assets: | ||
Cash and Cash Equivalents | $ 247,424 | $ 264,422 |
Total Current Assets | 247,424 | 264,422 |
Total Assets | 247,424 | 264,422 |
Current Liabilities: | ||
Accounts Payable and Accrued Expenses | 1,500 | 0 |
Accounts Payable and Accrued Expenses - Related Party | 1,450 | 0 |
Total Current Liabilities | 2,950 | 0 |
Commitments and Contingencies | ||
Stockholders' Equity: | ||
Preferred Stock, $.001 Par Value; 1,000,000 Shares Authorized; None Issued and Outstanding; | 0 | 0 |
Common Stock, $.001 Par Value; 100,000,000 Shares Authorized; 7,350,540 Shares Issued and Outstanding | 7,350 | 7,350 |
Additional Paid-In Capital | 2,372,640 | 2,372,640 |
Retained Deficit | (2,135,516) | (2,115,568) |
Total Stockholders' Equity | 244,474 | 264,422 |
Total Liabilities and Stockholders' Equity | $ 247,424 | $ 264,422 |
BALANCE SHEETS PARENTHETICALS
BALANCE SHEETS PARENTHETICALS - $ / shares | Apr. 30, 2016 | Apr. 30, 2015 |
Parentheticals | ||
Preferred Stock, par value | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 1,000,000 | 1,000,000 |
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Common Stock, shares issued | 7,350,540 | 7,350,540 |
Common Stock, shares outstanding | 7,350,540 | 7,350,540 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Apr. 30, 2016 | Apr. 30, 2015 | |
Revenue: | ||
Net Sales | $ 0 | $ 0 |
Costs and Expenses: | ||
Selling, General and Administrative Expenses | 20,203 | 20,130 |
Loss from Operations | (20,203) | (20,130) |
Other Income: | ||
Interest Income | 255 | 265 |
Net Income (Loss) | $ (19,948) | $ (19,865) |
Income (Loss) Per Common Share - Basic and diluted | $ 0 | $ 0 |
Weighted Average Shares Outstanding | 7,350,540 | 7,350,540 |
STATEMENT OF STOCKHOLDERS' EQUI
STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) | Common Stock Shares | Common Stock Amount | Additional Paid-In Capital | Retained (Deficit) | Total |
Balance at Apr. 30, 2014 | 7,350,540 | 7,350 | 2,372,640 | (2,095,703) | 284,287 |
Net Loss | $ 0 | $ 0 | $ (19,865) | $ (19,865) | |
Balance at Apr. 30, 2015 | 7,350,540 | 7,350 | 2,372,640 | (2,115,568) | 264,422 |
Net Loss | $ 0 | $ 0 | $ (19,948) | $ (19,948) | |
Balance at Apr. 30, 2016 | 7,350,540 | 7,350 | 2,372,640 | (2,135,516) | 244,474 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Apr. 30, 2016 | Apr. 30, 2015 | |
Cash Flows from Operating Activities: | ||
Net Loss | $ (19,948) | $ (19,865) |
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: | ||
Expenses Paid Directly by a Related Party | 1,450 | 0 |
Change in Operating Assets and Liabilities: | ||
Decrease in due from Related Party | 0 | 12,200 |
Increase in Accounts Payable and Accrued Liabilities | 1,500 | 0 |
Net Cash Used in Operating Activities | (16,998) | (7,665) |
Decrease in Cash and Cash Equivalents | (16,998) | (7,665) |
Cash and Cash Equivalents - Beginning of Year | 264,422 | 272,087 |
Cash and Cash Equivalents - End of Year | 247,424 | 264,422 |
Supplemental Cash Flow Information: | ||
Cash Paid for Interest | 0 | 0 |
Cash Paid Income Taxes | $ 0 | $ 0 |
Nature of Business
Nature of Business | 12 Months Ended |
Apr. 30, 2016 | |
Nature of Business | |
Nature of Business | NOTE 1 - Nature of Business Arbor EnTech Corporation (the Company) is a Delaware corporation that engaged in the production and wholesale distribution of wood products for home use, principally fireplace wood and garden stakes. The Companys products were produced, packaged in and distributed from its facility in Little Marsh, Pennsylvania. The products were delivered by independent truckers to customer locations in the Northeastern United States. On September 22, 2003, the Company discontinued its wood products business. The Company is seeking other business opportunities. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Apr. 30, 2016 | |
Summary of Significant Accounting Policies | |
Summary of Significant Accounting Policies | NOTE 2 - Summary of Significant Accounting Policies Cash and Cash Equivalents The Company considers all highly liquid short-term investments with a maturity of three months or less at time of purchase to be cash equivalents. Use of Estimates The preparation of financial statements in conformity with U.S. 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. Income Taxes The Company utilizes the liability method of accounting for income taxes. Under such method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect at the balance sheet date. The resulting asset or liability is adjusted to reflect enacted changes in tax law. Future tax benefits attributable to temporary differences are recognized to the extent that realization of such benefits is more likely than not. Income (Loss) Per Common Share The computation of earnings (loss) per share of common stock is computed by dividing income (loss) for the year by the weighted average number of common shares outstanding during that period. Since the Company has no common stock equivalents, diluted earnings (loss) per share is the same as basic earnings (loss) per share. Fair Value of Financial Instruments The fair value of the Companys financial instruments, which consist primarily of cash and cash equivalents and accounts payable and accrued liabilities, approximate their carrying amounts reported due to their short-term nature. Concentration of Credit Risk The Companys financial instruments that are exposed to concentration of credit risk consist of cash and cash equivalents. At times, such amounts are in excess of the FDIC insurance limits. |
Income Taxes
Income Taxes | 12 Months Ended |
Apr. 30, 2016 | |
Income Taxes: | |
Income Taxes | NOTE 3 - Income Taxes For income tax purposes, the Company has available net operating loss carryforwards (NOL) at April 30, 2016 of approximately $440,000 expiring in various years from 2023 through 2034 to reduce future federal and state taxable income, if any. As management of the Company cannot determine that it is more likely than not that the Company will realize the benefit of the deferred tax asset, a valuation allowance equal to the net deferred tax asset has been established. The tax effects of significant items comprising deferred income taxes are as follows: April 30, 2016 2015 Deferred Tax Deferred Tax Assets Liabilities Assets Liabilities Net Operating Loss Carryforwards $ 194,000 $ - $ 186,000 $ - 194,000 - 186,000 - Less: Valuation Allowance 194,000 - 186,000 - $ - $ - $ - $ - The difference in the Federal Statutory Rate of 34% and the state rate of approximately 10% and the Companys effective tax rate of 0% is due to a net operating loss carryforward for federal and state taxes. The Company recorded an increase in the valuation allowance of approximately $8,000 for the year ended April 30, 2016. The Company is no longer subject to examination by Federal or Pennsylvania State taxing authorities for years prior to April 30, 2012. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Apr. 30, 2016 | |
Recent Accounting Pronouncements: | |
Recent Accounting Pronouncements | NOTE 4 - Recent Accounting Pronouncements Management does not believe there would have been a material effect on the accompanying financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Apr. 30, 2016 | |
Related Party Transactions: | |
Related Party Transactions | NOTE 5 Related Party Transactions During the year ended April 30, 2016, Houtkin Consulting Corp, owned by Brad Houtkin, CEO paid expenses on the Companys behalf. As of April 30, 2016, the amount owed is $1,450. In the fiscal year ended April 30, 2014, the Company mistakenly paid out on behalf of a related party $14,000 ($12,200 of which was owed at April 30, 2014), which was repaid by the related party to the Company during the year ended April 30, 2015. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Apr. 30, 2016 | |
Accounting Policies | |
Cash and Cash Equivalents, Policy | Cash and Cash Equivalents The Company considers all highly liquid short-term investments with a maturity of three months or less at time of purchase to be cash equivalents. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. 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. |
Income Tax, Policy | Income Taxes The Company utilizes the liability method of accounting for income taxes. Under such method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect at the balance sheet date. The resulting asset or liability is adjusted to reflect enacted changes in tax law. Future tax benefits attributable to temporary differences are recognized to the extent that realization of such benefits is more likely than not. |
Income (Loss) Per Common Share, Policy | Income (Loss) Per Common Share The computation of earnings (loss) per share of common stock is computed by dividing income (loss) for the year by the weighted average number of common shares outstanding during that period. Since the Company has no common stock equivalents, diluted earnings (loss) per share is the same as basic earnings (loss) per share. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value of the Companys financial instruments, which consist primarily of cash and cash equivalents and accounts payable and accrued liabilities, approximate their carrying amounts reported due to their short-term nature. |
Concentration of Credit Risk | Concentration of Credit Risk The Companys financial instruments that are exposed to concentration of credit risk consist of cash and cash equivalents. At times, such amounts are in excess of the FDIC insurance limits. |
Schedule of Income Tax Expense
Schedule of Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Apr. 30, 2016 | |
Schedule of Income Tax Expense (Benefit) (Tables): | |
Schedule of Tax effects of significant items comprising deferred income taxes | The tax effects of significant items comprising deferred income taxes are as follows: April 30, 2016 2015 Deferred Tax Deferred Tax Assets Liabilities Assets Liabilities Net Operating Loss Carryforwards $ 194,000 $ - $ 186,000 $ - 194,000 - 186,000 - Less: Valuation Allowance 194,000 - 186,000 - $ - $ - $ - $ - |
Comprising deferred income taxe
Comprising deferred income taxes are as follows (Details) - USD ($) | Apr. 30, 2016 | Apr. 30, 2015 |
Deferred Tax Assets: | ||
Net Operating Loss Carryforwards | $ 194,000 | $ 186,000 |
Less: Valuation Allowance | 194,000 | 186,000 |
Deferred Tax Assets | 0 | 0 |
Deferred Tax Liabilities: | ||
Net Operating Loss Carryforwards | 0 | 0 |
Less: Valuation Allowance | 0 | 0 |
Deferred Tax Liabilities | $ 0 | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2014 |
Related Party Transactions Details | |||
Due to Related Party | $ 1,450 | $ 0 | $ 0 |
Paid out on behalf of a related party | 0 | 0 | 14,000 |
Due from related party | $ 0 | $ 1,800 | $ 0 |