$FNGR
FingerMotion, Inc.

2016 Q1 Form 10-Q Financial Statement

#000114420416075249 Filed on January 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $0.00 $3.339K $0.00
YoY Change -6.71% -100.0%
Cost Of Revenue $0.00 $1.647K $0.00
YoY Change 2.3% -100.0%
Gross Profit $0.00 $1.692K $0.00
YoY Change -14.07% -100.0%
Gross Profit Margin 50.67%
Selling, General & Admin $0.00 $10.00K $0.00
YoY Change -50.0%
% of Gross Profit 591.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $0.00 $6.156K $10.00K
YoY Change -100.0% -69.63% -34.85%
Operating Profit $0.00 -$4.464K -$10.00K
YoY Change -100.0% -75.61% -31.99%
Interest Expense $0.00 $88.00 $0.00
YoY Change 125.64% -100.0%
% of Operating Profit
Other Income/Expense, Net -$88.00
YoY Change 125.64%
Pretax Income $0.00 -$4.552K $0.00
YoY Change -75.18% -100.0%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings $0.00 -$4.552K $0.00
YoY Change -75.18% -100.0%
Net Earnings / Revenue -136.33%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 10.31M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $2.154K $2.668K $1.030K
YoY Change 109.13% 124.77% -88.16%
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 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $2.154K $2.668K $1.030K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $2.154K $2.668K $1.030K
YoY Change 109.13% 124.77% -88.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.00K $10.00K $20.00K
YoY Change -50.0% -50.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $30.00K $20.00K $20.00K
YoY Change 50.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $39.81K $38.72K $40.55K
YoY Change -1.83% 4.15% 79.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $39.81K $38.72K $40.55K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $40.00K $40.00K $40.00K
YoY Change 0.0% 0.0%
SHAREHOLDERS EQUITY
Retained Earnings -$103.9K -$102.3K -$90.77K
YoY Change 14.47% 17.26% 515.79%
Common Stock $1.031K $1.031K $1.001K
YoY Change 3.0% 3.0% 11.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$37.66K -$36.05K -$39.52K
YoY Change
Total Liabilities & Shareholders Equity $2.154K $2.668K $1.030K
YoY Change 109.13% 124.77% -88.16%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income $0.00 -$4.552K $0.00
YoY Change -75.18% -100.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $0.00 $0.00 $0.00
YoY Change -100.0%
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 10.00K 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities 0.000 0.000 0.000
Cash From Investing Activities
Cash From Financing Activities 10.00K 0.000 0.000
Net Change In Cash 10.00K 0.000 0.000
YoY Change -100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities $0.00 $0.00 $0.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 us-gaap Cash
Cash
1030 USD
CY2015Q4 us-gaap Cash
Cash
541 USD
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CY2015Q4 us-gaap Assets
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CY2015Q1 us-gaap Assets
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CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2015Q1 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2015Q4 us-gaap Notes Payable Related Parties Classified Current
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CY2015Q1 us-gaap Notes Payable Related Parties Classified Current
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CY2015Q4 us-gaap Liabilities Current
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CY2015Q1 us-gaap Liabilities Current
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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CY2015Q1 us-gaap Liabilities And Stockholders Equity
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CY2015Q4 us-gaap Stockholders Equity
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CY2015Q1 us-gaap Stockholders Equity
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CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2015Q4 us-gaap Additional Paid In Capital
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CY2015Q1 us-gaap Additional Paid In Capital
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CY2015Q4 us-gaap Common Stock Value
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CY2015Q1 us-gaap Common Stock Value
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CY2015Q4 us-gaap Preferred Stock Value
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CY2015Q1 us-gaap Preferred Stock Value
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CY2015Q4 pptg Management Fee Receivable
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CY2015Q1 pptg Management Fee Receivable
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CY2015Q4 us-gaap Revenues
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CY2014Q4 us-gaap Revenues
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CY2015Q4 us-gaap Cost Of Revenue
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CY2014Q4 us-gaap Cost Of Revenue
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CY2015Q4 us-gaap Gross Profit
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CY2014Q4 us-gaap Gross Profit
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CY2015Q4 us-gaap Operating Income Loss
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CY2014Q4 us-gaap Operating Income Loss
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CY2015Q4 us-gaap Operating Expenses
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CY2014Q4 us-gaap Operating Expenses
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CY2015Q4 us-gaap Lease And Rental Expense
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CY2014Q4 us-gaap Lease And Rental Expense
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CY2015Q4 us-gaap General And Administrative Expense
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CY2014Q4 us-gaap General And Administrative Expense
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CY2015Q4 us-gaap Professional Fees
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CY2014Q4 us-gaap Professional Fees
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CY2015Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10007000 shares
CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
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-0.00
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-4552 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-18341 USD
CY2015Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-4552 USD
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-18341 USD
CY2015Q4 us-gaap Interest Expense
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88 USD
CY2014Q4 us-gaap Interest Expense
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39 USD
CY2015Q4 us-gaap Other Nonoperating Income Expense
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CY2014Q4 us-gaap Other Nonoperating Income Expense
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Cost Of Revenue
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us-gaap Cost Of Revenue
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us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap Professional Fees
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us-gaap Professional Fees
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us-gaap Lease And Rental Expense
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us-gaap Lease And Rental Expense
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us-gaap Operating Expenses
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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us-gaap Operating Expenses
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
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CY2015Q4 us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
ExtinguishmentOfDebtGainLossNetOfTax
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CY2014Q4 us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
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us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
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us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
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us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2015 pptg Stockissued During Period Value Issued For Cash Consideration
StockissuedDuringPeriodValueIssuedForCashConsideration
50350 USD
CY2015 us-gaap Net Income Loss
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us-gaap Interest Paid
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us-gaap Interest Paid
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us-gaap Income Taxes Paid Net
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us-gaap Income Taxes Paid Net
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CY2014Q4 us-gaap Cash
Cash
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CY2014Q1 us-gaap Cash
Cash
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us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
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us-gaap Cash Period Increase Decrease
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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-46572 USD
us-gaap Proceeds From Repayments Of Notes Payable
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us-gaap Proceeds From Repayments Of Notes Payable
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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pptg Increase Decrease In Management Fee Receivable
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pptg Increase Decrease In Management Fee Receivable
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dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2014-01-23
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2015Q4 us-gaap Accounts Payable And Other Accrued Liabilities
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CY2015Q1 us-gaap Accounts Payable And Other Accrued Liabilities
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CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2015Q4 us-gaap Common Stock Shares Authorized
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CY2015Q1 us-gaap Common Stock Shares Authorized
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CY2015Q4 us-gaap Common Stock Shares Issued
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CY2015Q4 us-gaap Common Stock Shares Outstanding
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CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2015Q1 us-gaap Preferred Stock Shares Authorized
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CY2015Q4 us-gaap Preferred Stock Shares Issued
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pptg Stockissued During Period Value Issued For Cash Consideration
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Nature Of Operations
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<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" 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" align="justify"><b>Note 1 - Organization and Operations</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <font style="BACKGROUND-COLOR: transparent"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="BACKGROUND-COLOR: transparent"> <font style="BACKGROUND-COLOR: transparent">Property Management Corporation of America (the &#8220;Company&#8221;) was incorporated on <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">January 23, 2014</font> under the laws of the State of Delaware. The Company offers management and consulting services to residential and commercial real estate property owners who rent or lease their property to third party tenants.</font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Fiscal Period
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<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" 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" 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" 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" align="justify">The Company elected the last day of February 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>
us-gaap Use Of Estimates
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<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" 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" 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" 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" 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" 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" 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" 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" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div>(i)</div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="BACKGROUND-COLOR: transparent"><i>Assumption as a going concern</i>:</font> Management assumes that 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" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div>(ii)</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. Management made this assumption based on (a.) the Company has incurred recurring losses, (b.) general economic conditions, and (c.) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors.</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" 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" 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" 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" 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"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" 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" 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" 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>
dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Delaware
CY2015Q4 pptg Shares Authorized
SharesAuthorized
19000000 shares
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2015-11-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
Property Management Corp of America
dei Entity Central Index Key
EntityCentralIndexKey
0001602409
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
PPTG
CY2016Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
10307000 shares
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-29

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