2012 Q2 Form 10-Q Financial Statement
#000114420412029445 Filed on May 15, 2012
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 |
---|---|---|---|---|
CY2012Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
3926000 | shares |
CY2011Q1 | us-gaap |
Cash
Cash
|
40554 | |
CY2012Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1945 | |
CY2012Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
8852 | |
CY2012Q1 | us-gaap |
Assets
Assets
|
8888 | |
CY2012Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
3836 | |
CY2012Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
3836000 | shares |
CY2012Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2012Q1 | us-gaap |
Assets Current
AssetsCurrent
|
6943 | |
CY2012Q1 | us-gaap |
Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
|
67264 | |
CY2012Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2012Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2012Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
63464 | |
CY2012Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
8888 | |
CY2012Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2011Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
11657 | |
CY2012Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2012Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
8852 | |
CY2012Q1 | us-gaap |
Cash
Cash
|
6943 | |
CY2012Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2012Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
36 | |
CY2012Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3836000 | shares |
CY2012Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2011Q2 | us-gaap |
Assets Current
AssetsCurrent
|
37030 | |
CY2011Q2 | us-gaap |
Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
|
41927 | |
CY2011Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2011Q2 | us-gaap |
Assets
Assets
|
37030 | |
CY2011Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
3836 | |
CY2011Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
3836000 | shares |
CY2011Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2011Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2011Q2 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
63464 | |
CY2011Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
37030 | |
CY2011Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2011Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2011Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
25373 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-26745 | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
24500 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
41800 | ||
us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
40554 | ||
us-gaap |
Interest Paid
InterestPaid
|
|||
us-gaap |
Operating Expenses
OperatingExpenses
|
26745 | ||
CY2011Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3836000 | shares |
CY2011Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2011Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2011Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
11657 | |
CY2011Q2 | us-gaap |
Cash
Cash
|
37030 | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
|||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1246 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2245 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
41800 | ||
us-gaap |
Profit Loss
ProfitLoss
|
-26746 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.02 | ||
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
CurrentFiscalYearEndDate
|
--06-30 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2000 | ||
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
|||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-28087 | ||
us-gaap |
Related Party Costs
RelatedPartyCosts
|
1340 | ||
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2805 | ||
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<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">  </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">  </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’s Annual Report on Form 10-K for the year ended June 30, 2011.  The unaudited  interim financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, which contains the audited financial statements and notes thereto, together with the Management’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">  </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> | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-25337 | ||
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
55 | ||
us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
-30087 | ||
us-gaap |
Interest Paid
InterestPaid
|
|||
us-gaap |
Operating Expenses
OperatingExpenses
|
25337 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
23997 | ||
us-gaap |
Profit Loss
ProfitLoss
|
-25337 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | ||
fmyy |
Payments For Other Investing Activities
PaymentsForOtherInvestingActivities
|
2000 | ||
fmyy |
Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
|
3836000 | shares | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-41927 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2000 | ||
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
|||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-32857 | ||
us-gaap |
Related Party Costs
RelatedPartyCosts
|
1340 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-67264 | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
24500 | ||
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
55 | ||
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
8852 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
41800 | ||
us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
6943 | ||
us-gaap |
Interest Paid
InterestPaid
|
|||
us-gaap |
Operating Expenses
OperatingExpenses
|
67264 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
41424 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
41800 | ||
us-gaap |
Profit Loss
ProfitLoss
|
-67264 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.02 | ||
fmyy |
Payments For Other Investing Activities
PaymentsForOtherInvestingActivities
|
2000 | ||
fmyy |
Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
|
3537277 | shares | |
CY2011Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-24407 | |
CY2011Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
23924 | |
CY2011Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
24407 | |
CY2011Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
483 | |
CY2011Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | |
CY2011Q1 | fmyy |
Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
|
3836000 | shares |
CY2012Q1 | us-gaap |
Related Party Costs
RelatedPartyCosts
|
1340 | |
CY2012Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9945 | |
CY2012Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
9945 | |
CY2012Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
8605 | |
CY2012Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.00 | |
CY2012Q1 | fmyy |
Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
|
3836000 | shares |