2016 Q2 Form 10-Q Financial Statement

#000114420416112320 Filed on July 11, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q2
Revenue $3.474K $0.00 $3.664K
YoY Change -5.19% 2.15%
Cost Of Revenue $1.564K $0.00 $1.608K
YoY Change -2.74% -0.37%
Gross Profit $1.910K $0.00 $2.056K
YoY Change -7.1% 4.21%
Gross Profit Margin 54.98% 56.11%
Selling, General & Admin $10.00K $0.00 $10.00K
YoY Change 0.0% -66.67%
% of Gross Profit 523.56% 486.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $8.039K $0.00 $7.479K
YoY Change 7.49% -100.0% -74.69%
Operating Profit -$6.129K $0.00 -$5.423K
YoY Change 13.02% -100.0% -80.33%
Interest Expense $104.00 $0.00 $69.00
YoY Change 50.72% -19.77%
% of Operating Profit
Other Income/Expense, Net -$104.00 -$69.00
YoY Change 50.72% -19.77%
Pretax Income -$10.00K $0.00 -$5.492K
YoY Change 82.08% -80.14%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.233K $0.00 -$5.492K
YoY Change 13.49% -80.14%
Net Earnings / Revenue -179.42% -149.89%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.876K $0.00 -$4.000K
COMMON SHARES
Basic Shares Outstanding 10.31M shares 10.31M shares 10.01M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $474.00 $2.154K $1.167K
YoY Change -59.38% 109.13% -61.15%
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 $474.00 $2.154K $1.167K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $474.00 $2.154K $1.167K
YoY Change -59.38% 109.13% -61.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00K $10.00K $20.00K
YoY Change 0.0% -50.0% 0.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $30.00K $30.00K $20.00K
YoY Change 50.0% 50.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.36K $39.81K $46.18K
YoY Change -3.94% -1.83% 3.78%
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 $44.36K $39.81K $46.18K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $40.00K $40.00K $50.00K
YoY Change -20.0% 0.0% 25.0%
SHAREHOLDERS EQUITY
Retained Earnings -$110.1K -$103.9K -$96.27K
YoY Change 14.41% 14.47% 127.05%
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 -$48.70K -$37.66K -$45.02K
YoY Change
Total Liabilities & Shareholders Equity $474.00 $2.154K $1.167K
YoY Change -59.38% 109.13% -61.15%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q2
OPERATING ACTIVITIES
Net Income -$6.233K $0.00 -$5.492K
YoY Change 13.49% -80.14%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $0.00 $0.00 -$10.00K
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 0.000 10.00K $6.000K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 0.000 0.000 -10.00K
Cash From Investing Activities
Cash From Financing Activities 0.000 10.00K $6.000K
Net Change In Cash 0.000 10.00K $6.000K
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $0.00 $0.00 -$10.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q2 us-gaap Assets
Assets
474 USD
CY2016Q1 us-gaap Assets
Assets
2154 USD
CY2016Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
16863 USD
CY2016Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
12310 USD
CY2016Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
27500 USD
CY2016Q1 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
27500 USD
CY2016Q2 us-gaap Liabilities Current
LiabilitiesCurrent
44363 USD
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
39810 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
474 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2154 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
-43889 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-110139 USD
CY2015Q2 us-gaap Cash
Cash
1167 USD
CY2015Q1 us-gaap Cash
Cash
1030 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2016Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2016Q1 us-gaap Additional Paid In Capital
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65219 USD
CY2016Q2 us-gaap Common Stock Value
CommonStockValue
1031 USD
CY2016Q1 us-gaap Common Stock Value
CommonStockValue
1031 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Revenues
Revenues
3474 USD
CY2015Q2 us-gaap Revenues
Revenues
3664 USD
CY2016Q2 us-gaap Cost Of Revenue
CostOfRevenue
1564 USD
CY2015Q2 us-gaap Cost Of Revenue
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1608 USD
CY2016Q2 us-gaap Gross Profit
GrossProfit
1910 USD
CY2015Q2 us-gaap Gross Profit
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2056 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-6129 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5423 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
8039 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
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CY2016Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1050 USD
CY2015Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1050 USD
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2848 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1112 USD
CY2016Q2 us-gaap Professional Fees
ProfessionalFees
4141 USD
CY2015Q2 us-gaap Professional Fees
ProfessionalFees
5317 USD
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10307000 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10007000 shares
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-6233 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-5492 USD
CY2016Q2 us-gaap Interest Expense
InterestExpense
104 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
69 USD
CY2016Q2 us-gaap Interest Paid
InterestPaid
104 USD
CY2015Q2 us-gaap Interest Paid
InterestPaid
69 USD
CY2016Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2015Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2016Q2 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
-1680 USD
CY2015Q2 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
137 USD
CY2016Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
0 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
6000 USD
CY2016Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4553 USD
CY2015Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-371 USD
CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1680 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-5863 USD
CY2016Q2 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 USD
CY2015Q2 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
6000 USD
CY2016Q2 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2014-01-23
CY2016Q2 dei Document Type
DocumentType
10-Q
CY2016Q2 dei Amendment Flag
AmendmentFlag
false
CY2016Q2 dei Document Period End Date
DocumentPeriodEndDate
2016-05-31
CY2016Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2016Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q2 dei Entity Registrant Name
EntityRegistrantName
Property Management Corp of America
CY2016Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001602409
CY2016Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2016Q2 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2016Q2 dei Trading Symbol
TradingSymbol
PPTG
CY2016Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
10307000 shares
CY2016Q2 pptg Percentage Of Ownership In Properties By Related Party
PercentageOfOwnershipInPropertiesByRelatedParty
0.55 pure
CY2016Q2 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" 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"><font style="BACKGROUND-COLOR: transparent"><i><u> Use of Estimates</u></i></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> <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">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include accounting for potential liabilities. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q2 us-gaap Nature Of Operations
NatureOfOperations
<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 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"><b>Going Concern</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> <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 accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the three months ended May 31, 2016, the Company incurred a net loss of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">6,233</font>, used cash in operations of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,680</font>, and at May 31, 2016, had a stockholders' deficit of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">43,889</font>. These factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</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 is attempting to generate sufficient revenue; however, the Company&#8217;s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q2 us-gaap Assets Current
AssetsCurrent
474 USD
CY2016Q1 us-gaap Assets Current
AssetsCurrent
2154 USD
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0.0001
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2016Q1 us-gaap Preferred Stock Shares Authorized
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CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2016Q2 dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
&#173;Delaware

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