2012 Q2 Form 10-Q Financial Statement

#000114420412029445 Filed on May 15, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2011 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin -$70.00K $90.00K $20.00K
YoY Change -450.0%
% of Gross Profit
Research & Development $0.00 $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses -$60.00K $9.945K $20.00K
YoY Change -400.0% -59.25%
Operating Profit
YoY Change
Interest Expense $80.00K -$80.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $140.0K -$180.0K -$20.00K
YoY Change -800.0%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $140.0K -$9.945K -$20.00K
YoY Change -800.0% -59.25%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $3.500M -$1.500M -$250.0K
COMMON SHARES
Basic Shares Outstanding 3.926M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q2 2012 Q1 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.00K $40.00K
YoY Change -25.0%
Cash & Equivalents $30.00K $40.00K
Short-Term Investments
Other Short-Term Assets $102.2K
YoY Change
Inventory $0.00
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.069M $6.943K $37.03K
YoY Change 2785.66% -82.64%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.945K
YoY Change
Total Long-Term Assets $0.00 $1.945K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.069M $6.943K $37.03K
Total Long-Term Assets $0.00 $1.945K $0.00
Total Assets $1.069M $8.888K $37.03K
YoY Change 2785.66% -77.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.0K $8.852K $11.66K
YoY Change 818.09%
Accrued Expenses $110.0K $10.00K
YoY Change 1000.0%
Deferred Revenue
YoY Change
Short-Term Debt $2.140M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.357M $8.852K $11.66K
YoY Change 20123.68%
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 $2.357M $8.852K $11.66K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.357M $10.00K
YoY Change 23474.74%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $35.28K $3.836K $3.836K
YoY Change 819.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.289M $36.00 -$505.5K
YoY Change
Total Liabilities & Shareholders Equity $1.069M $8.888K $37.03K
YoY Change 2785.66% -77.78%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2011 Q2
OPERATING ACTIVITIES
Net Income $140.0K -$9.945K -$20.00K
YoY Change -800.0% -59.25%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $420.0K -$440.0K $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$650.0K
YoY Change
Cash From Investing Activities $650.0K -$650.0K $0.00
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 -1.150M 1.160M 0.000
YoY Change 2800.0%
NET CHANGE
Cash From Operating Activities 420.0K -440.0K 0.000
Cash From Investing Activities 650.0K -650.0K 0.000
Cash From Financing Activities -1.150M 1.160M 0.000
Net Change In Cash -80.00K 70.00K 0.000
YoY Change 75.0%
FREE CASH FLOW
Cash From Operating Activities $420.0K -$440.0K $0.00
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow $420.0K -$440.0K $0.00
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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EntityCommonStockSharesOutstanding
3926000 shares
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CY2012Q1 us-gaap Common Stock Shares Outstanding
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CY2012Q1 us-gaap Assets Current
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CY2012Q1 us-gaap Development Stage Enterprise Deficit Accumulated During Development Stage
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CY2012Q1 us-gaap Preferred Stock Shares Outstanding
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CY2012Q1 us-gaap Cash
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CY2012Q1 us-gaap Preferred Stock Value
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CY2012Q1 us-gaap Stockholders Equity
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CY2012Q1 us-gaap Common Stock Shares Issued
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CY2012Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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us-gaap Net Income Loss
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us-gaap Research And Development Expense
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Cash Period Increase Decrease
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us-gaap Interest Paid
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us-gaap Operating Expenses
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CY2011Q2 us-gaap Common Stock Shares Issued
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us-gaap Income Taxes Paid
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us-gaap General And Administrative Expense
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us-gaap Net Cash Provided By Used In Financing Activities
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41800
us-gaap Profit Loss
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-26746
us-gaap Earnings Per Share Basic And Diluted
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fmyy Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
1250671 shares
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Trading Symbol
TradingSymbol
FMYY
dei Entity Registrant Name
EntityRegistrantName
FITS MY STYLE INC
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
dei Entity Central Index Key
EntityCentralIndexKey
0001509261
dei Current Fiscal Year End Date
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--06-30
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Income Taxes Paid
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Related Party Costs
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Basis Of Accounting
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<div style="font: 10pt Times New Roman, Times, Serif"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><u>Note 1 Basis of Presentation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &#xA0;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &#xA0;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The financial information as of June 30, 2011 is derived from the audited financial statements presented in the Company&#x2019;s Annual Report on Form 10-K for the year ended June 30, 2011.&#xA0;&#xA0;The unaudited&#xA0;&#xA0;interim financial statements should be read in conjunction with the Company&#x2019;s Annual Report on Form 10-K, which contains the audited financial statements and notes thereto, together with the Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations, for the year ended June 30, 2011.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &#xA0;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Certain information or footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management's opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The interim results for the period ended March 31, 2012 are not necessarily indicative of results for the full fiscal year.</p> </div>
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us-gaap Net Income Loss
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