$FNGR
FingerMotion, Inc.

2014 Q3 Form 10-Q Financial Statement

#000114420414045127 Filed on July 28, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2
Revenue $3.586K $3.587K
YoY Change
Cost Of Revenue $1.614K $1.614K
YoY Change
Gross Profit $1.972K $1.973K
YoY Change
Gross Profit Margin 54.99% 55.0%
Selling, General & Admin $30.00K $30.00K
YoY Change
% of Gross Profit 1521.3% 1520.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $28.40K $29.54K
YoY Change
Operating Profit -$26.42K -$27.57K
YoY Change
Interest Expense $74.00 $86.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$74.00 -$86.00
YoY Change
Pretax Income -$26.50K -$27.66K
YoY Change
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$26.50K -$27.66K
YoY Change
Net Earnings / Revenue -738.93% -771.03%
Basic Earnings Per Share
Diluted Earnings Per Share -$12.82K -$13.33K
COMMON SHARES
Basic Shares Outstanding 9.000M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00K $0.00
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change
Inventory
Prepaid Expenses $0.00 $0.00
Receivables
Other Receivables
Total Short-Term Assets $10.52K $3.004K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $10.52K $3.004K
Total Long-Term Assets $0.00 $0.00
Total Assets $10.52K $3.004K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00K $20.00K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $20.00K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.17K $44.50K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $28.17K $44.50K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $30.00K $40.00K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$68.90K -$42.40K
YoY Change
Common Stock $1.001K $900.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$17.65K -$41.50K
YoY Change
Total Liabilities & Shareholders Equity $10.52K $3.004K
YoY Change

Cashflow Statement

Concept 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$26.50K -$27.66K
YoY Change
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$20.00K $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.00K $0.00
YoY Change
NET CHANGE
Cash From Operating Activities -20.00K 0.000
Cash From Investing Activities
Cash From Financing Activities 30.00K $0.00
Net Change In Cash 10.00K $0.00
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$20.00K $0.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><i><u>Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions</u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">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(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s).</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><font style="BACKGROUND-COLOR: transparent"> Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company&#8217;s critical accounting estimates and assumptions affecting the financial statements were:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><font style="BACKGROUND-COLOR: transparent"> &#160;</font></div> <table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div><font style="COLOR: black">(i)</font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="BACKGROUND-COLOR: transparent"><i>Assumption as a going concern</i>:</font> <font style="COLOR: black">Management assumes that</font> the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business<font style="BACKGROUND-COLOR: transparent">.</font></div> </td> </tr> </table> <table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div><font style="COLOR: black">(ii)</font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="BACKGROUND-COLOR: transparent"><i>Valuation allowance for deferred tax assets</i>:</font> Management assumes that the realization of the Company&#8217;s net deferred tax assets resulting from its net operating loss (&#8220;NOL&#8221;) carry&#150;forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by a full valuation allowance. <font style="COLOR: black">Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, and (c)</font> <font style="COLOR: black">its ability to raise additional funds to support its daily operations</font> by way of a public or private offering<font style="COLOR: black">, among other factors.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><font style="BACKGROUND-COLOR: transparent"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q2 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2014-01-23
CY2014Q2 dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Delaware
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2014Q2 us-gaap Fiscal Period
FiscalPeriod
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"><i><u>Fiscal Year End</u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The Company elected February 28th as its fiscal year end date upon its formation.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q1 cik0001602409 Shares Authorized
SharesAuthorized
19000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
18000000 shares
CY2014Q1 us-gaap Cash
Cash
2446 USD
CY2014Q2 us-gaap Cash
Cash
3004 USD
CY2014Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6250 USD
CY2014Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
0 USD
CY2014Q1 us-gaap Assets Current
AssetsCurrent
8696 USD
CY2014Q2 us-gaap Assets Current
AssetsCurrent
3004 USD
CY2014Q1 us-gaap Assets
Assets
8696 USD
CY2014Q2 us-gaap Assets
Assets
3004 USD
CY2014Q1 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
22537 USD
CY2014Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
22537 USD
CY2014Q1 us-gaap Liabilities Current
LiabilitiesCurrent
22537 USD
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
44502 USD
CY2014Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q1 us-gaap Common Stock Value
CommonStockValue
900 USD
CY2014Q2 us-gaap Common Stock Value
CommonStockValue
900 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
-13841 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
-41498 USD
CY2014Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8696 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3004 USD
CY2014Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1050 USD
CY2014Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2014Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
18000000 shares
CY2014Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9000000 shares
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9000000 shares
CY2014Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9000000 shares
CY2014Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9000000 shares
CY2014Q2 us-gaap Revenues
Revenues
3587 USD
CY2014Q2 us-gaap Cost Of Revenue
CostOfRevenue
1614 USD
CY2014Q2 us-gaap Gross Profit
GrossProfit
1973 USD
CY2014Q2 us-gaap Professional Fees
ProfessionalFees
25511 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
29544 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-27571 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
86 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-86 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-27657 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9000000 shares
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
0 USD
CY2014Q1 us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
900 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-14741 USD
CY2014Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-6250 USD
CY2014Q2 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
558 USD
CY2014Q2 us-gaap Interest Paid
InterestPaid
86 USD
CY2014Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2983 USD
CY2014Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
0 USD
CY2014Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
21965 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14741 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-42398 USD
CY2014Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
21965 USD
CY2014Q2 dei Document Type
DocumentType
10-Q
CY2014Q2 dei Amendment Flag
AmendmentFlag
false
CY2014Q2 dei Document Period End Date
DocumentPeriodEndDate
2014-05-31
CY2014Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2014Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001602409
CY2014Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2014Q2 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
9000000 shares
CY2014Q2 dei Entity Registrant Name
EntityRegistrantName
Property Management Corp of America

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