EVADER INC. December 31, 2011 Table of Content
Post# of 5280
EVADER INC.
December 31, 2011
Table of Contents
Page
Balance Sheet 2
Statement of Earnings and Retained Earnings 3
Statement of Cash Flows 4
Statement of Shareholders' Equity 5
Notes to Financial Statements 6
These financial statements and notes thereto present fairly, in all material respects,
the financial position of the company and the results of its operations and cash
flows for the period presented, in conformity with accounting principles generally
accepted in the United States, consistently applied. EVADER INC.
CONSOLIDATED BALANCE SHEET
As at December 31, 2011
(Unaudited)
BALANCE SHEET
ASSETS
CURRENT ASSETS
Cash - $
Accounts Receivable -
Other Receivable -
Inventory -
Prepaid Accounts -
-
LONG-TERM EQUITY INVESTMENT -
-
FIXED ASSETS - NBV -
INTANGIBLE ASSETS - NBV -
$ -
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts Payable and Accrued Liabilities - $
Other Payables -
Taxes Payable -
-
LONG TERM LIABILITIES - -
-
SHAREHOLDERS' EQUITY
CAPITAL STOCK
Common Stock, authorized shares 988,000,000
Issued and outstanding - 975,024,000 @ PV $.001 975,024
Preferred Stock, auth 1,000,000 - issued 0 @.0001
Additional Paid In Capital 969,524 -
Deficit - 5,500
-
$ -
The accompanying notes are an integral part of these
financial statements
2 EVADER INC.
CONSOLIDATED STATEMENT OF EARNINGS AND RETAINED EARNINGS
FOR THE YEAR ENDED December 31, 2011
(Unaudited)
EARNINGS
REVENUE (See NOTE 7)
Sales $ -
-
TOTAL SALES -
COST OF SALES
Cost of Sales -
TOTAL COST OF SALES -
GROSS PROFIT -
OPERATING EXPENSES
Administrative Expense 5,500
Selling Expense -
5,500
OTHER INCOME & EXPENSES -
PROFIT (LOSS) -5,500
NET PROFIT (LOSS) -5,500
Deficit - Beginning of period -
Deficit - End of period -$ 5,500
The accompanying notes are an integral part of these
financial statements
3 EVADER INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED December 31, 2011
(Unaudited)
CASH FLOWS
Cash flows from operating activities
Profit/Loss from operations -$ 5,500
Adjustments to cash flows from operating activites:
Amortization of goodwill
Depreciation od fixed assets -
Cash flows from operating activities -$ 5,500
Cash flows from investing activities:
Capital expenditures
Investment in inventory
Increase in accounts receivable -
Decrease in prepaid expenses -
Cash used in investing activities $ -
Cash flows from financing activities:
Increase in accounts payable and accrued liabilities
Increase in paid in capital 5,500
Increase in loans payable -
Issuance of capital stock
Cash used for financing activities $ 5,500
Net increase (decrease) in cash $ -
Cash at beginning of period -
Cash at end of period $ -
The accompanying notes are an integral part of these
financial statements
4 EVADER INC.
CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY
AS AT December 31, 2011
(Unaudited)
Pref Stock Common Stock PIC R/E Total
Shares Amount Shares Amount Amount
Openning Bal 0 0 52,421,599 $ 52,422 -$ 52,422 $ - -
Issuance of stk 922,602,401 922,602 - - 922,602
Capital Paid In - 917,102 - 917,102
Net Profit/Loss
Bal Dec 2011 0 $0 975,024,000 975,024 -$ 969,524 -$ 5,500 $ -
The accompanying notes are an integral part of these
financial statements
5
- 5,500 - 5,500 EVADER INC
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
EVADER INC.
NOTES TO CONSOLIDATED FINANCIAl STATEMENTS
FOR THE PERIOD December 31, 2011
(Unaudited)
NOTE 1. GENERAL ORGANIZATION AND BUSINESS ISSUES
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
The company was administratively abandoned and reinstated in
JuLY 2010 through a court appointed guardian - custodian.
On February 22, 2011, the company announced that it had acquired
Avtar Singh Construction, a major developer in the City of Chandigarh,
India
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
India
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
PRACTICES
Accounting policies and procedures are listed below. The company
has adopted a December 31 year end.
Accounting Basis
We have prepared the consolidated financial statements according to
generally accepted accounting
Principles (GAAP).
Cash and Cash Equivalents
The Company considers all highly liquid investments with original
maturities of three months or less as
cash equivalents. As of December 31, 2011 the company had no cash
or cash equivalent balances in excess
Of the federally insured amounts. The Company’s policy is to invest
excess funds in only well capitalized
financial institutions.
Earnings per Share
The Company adopted the provisions of SFAS No. 128, Earnings
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception. per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
per Share. SFAS No. 128 requires the
presentation of basic and diluted earnings per share (EPS). Basic
EPS is computed by dividing income
available to common stockholders by the weighted-average number
of common shares outstanding for the
period. Diluted EPS includes the potential dilution that could occur if
options or other contracts to issue
common stock were exercised or converted.
The Company has not issued any options or warrants or similar
securities since inception.
Stock Based Compensation
As permitted by Statement of Financial Accounting Standards
(SFAS) No. 148, Accounting for Stock-
Based Compensation--Transition and Disclosure, which amended
SFAS 123 (SFAS 123), Accounting
for Stock-Based Compensation, the Company has elected to continue
to follow the intrinsic value method
in accounting for its stock-based employee compensation
arrangements as defined by
Accounting
Principles Board Opinion (APB) No. 25, Accounting for Stock
Issued to Employees, and related
Interpretations including Financial Accounting Standards Board
Interpretations No. 44, Accounting for
Certain Transactions Involving Stock Compensation, and
interpretation of APB No. 25. At December 31, 2010 the Company
has not formed a Stock Option Plan and has not issued any options.
Dividends
The Company has adopted a policy regarding the payment of
dividends. Dividends may be paid to shareholders once all divisions
are fully operational and profitable. The Board may also pay
dividends to counter any short selling or undermining of the entity.
Fixed Assets
Fixed assets are carried at cost. Depreciation is computed using the
straight-line method of depreciation
over the assets estimated useful lives. Maintenance and repairs are
charged to expense as incurred; major
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and therenewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
renewals and improvements are capitalized. When items of fixed
assets are sold or retired, the related cost
and accumulated depreciation is removed from the accounts and any
gain or loss is included in income.
Income Taxes
The provision for income taxes is the total of the current taxes
payable and the net of the change in the
deferred income taxes. Provision is made for the deferred income
taxes where differences exist between the
period in which transactions affect current taxable income and the
period in which they enter into the
determination of net income in the financial statements.
Advertising
Advertising is expensed when incurred.
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 the reported amounts of revenue and expenses during
the reporting period. Actual results
could differ from those estimates.
Goodwill
Goodwill is created when we acquire a business. It is calculated by
deducting the fair value of the net
assets acquired from the consideration given and represents the value
of factors that contribute to greater
earning power, such as a good reputation, customer loyalty
e assess goodwill of individual subsidiaries for impairment in the
fourth quarter of every year, and when
circumstances indicate that goodwill might be impaired.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
Management does not believe that any recently issued but not yet
adopted accounting standards will have a
material effect on the Companys results of operations or on the
reported amounts of its assets and liabilities
upon adoption.
NOTE 5. SHAREHOLDERS EQUITY
Common Stock:
As of December 31, 2011 the company has 975,024,000 shares of
common stock issued and outstanding.
NOTE 6. PROVISION FOR INCOME TAXES
The Company provides for income taxes under Statement of
Financial Accounting Standards NO. 109,
Accounting for Income Taxes. SFAS No. 109 requires the use of an
asset and liability approach in
accounting for income taxes. Deferred tax assets and liabilities are
recorded based on the differences
between the financial statement and tax bases of assets and liabilities
and the tax rates in effect when these
differences are expected to reverse.
SFAS No. 109 requires the reduction of deferred tax assets by a
valuation allowance if, based on the weight
of available evidence, it is more likely than not that some or all of the
deferred tax assets will not be
realized. The provision for income taxes is comprised of the net
changes in deferred taxes less the
valuation account plus the current taxes payable.
NOTE 7. REVENUE REPORTING
The subsidiary Avtar Singh Construction has failed to deliver
financials statements for the period ending December 31, 2011 and
Revenue reported does not include any reporting results from this
subsidiary company.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
Management does not believe that any recently issued but not yet
adopted accounting standards will have a
material effect on the Companys results of operations or on the
reported amounts of its assets and liabilities
upon adoption.
NOTE 5. SHAREHOLDERS EQUITY
Common Stock:
As of December 31, 2011 the company has 975,024,000 shares of
common stock issued and outstanding.
NOTE 6. PROVISION FOR INCOME TAXES
The Company provides for income taxes under Statement of
Financial Accounting Standards NO. 109,
Accounting for Income Taxes. SFAS No. 109 requires the use of an
asset and liability approach in
accounting for income taxes. Deferred tax assets and liabilities are
recorded based on the differences
between the financial statement and tax bases of assets and liabilities
and the tax rates in effect when these
differences are expected to reverse.
SFAS No. 109 requires the reduction of deferred tax assets by a
valuation allowance if, based on the weight
of available evidence, it is more likely than not that some or all of the
deferred tax assets will not be
realized. The provision for income taxes is comprised of the net
changes in deferred taxes less the
valuation account plus the current taxes payable.
NOTE 7. REVENUE REPORTING
The subsidiary Avtar Singh Construction has failed to deliver
financials statements for the period ending December 31, 2011 and
Revenue reported does not include any reporting results from this
subsidiary company.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
Management does not believe that any recently issued but not yet
adopted accounting standards will have a
material effect on the Companys results of operations or on the
reported amounts of its assets and liabilities
upon adoption.
NOTE 5. SHAREHOLDERS EQUITY
Common Stock:
As of December 31, 2011 the company has 975,024,000 shares of
common stock issued and outstanding.
NOTE 6. PROVISION FOR INCOME TAXES
The Company provides for income taxes under Statement of
Financial Accounting Standards NO. 109,
Accounting for Income Taxes. SFAS No. 109 requires the use of an
asset and liability approach in
accounting for income taxes. Deferred tax assets and liabilities are
recorded based on the differences
between the financial statement and tax bases of assets and liabilities
and the tax rates in effect when these
differences are expected to reverse.
SFAS No. 109 requires the reduction of deferred tax assets by a
valuation allowance if, based on the weight
of available evidence, it is more likely than not that some or all of the
deferred tax assets will not be
realized. The provision for income taxes is comprised of the net
changes in deferred taxes less the
valuation account plus the current taxes payable.
NOTE 7. REVENUE REPORTING
The subsidiary Avtar Singh Construction has failed to deliver
financials statements for the period ending December 31, 2011 and
Revenue reported does not include any reporting results from this
subsidiary company.
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a
going concern. The Company had a net loss for the year ended
December 31, 2011 of $ 5,500. The Company’s continuation as a
going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
NOTE 4. RECENTLY ISSUED ACCOUNTING STANDARDS
Management does not believe that any recently issued but not yet
adopted
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