ZENOSENSE, INC. - Quarter Report: 2013 March (Form 10-Q)

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333-158062

Commission file number

 

BRAEDEN VALLEY MINES INC.
(Exact name of small business issuer as specified in its charter)
Nevada						N/A
(State or other jurisdiction of incorporation or organization)						(IRS Employer Identification No.)
Bella Vista, Calle Gracia, Casa 19A, Panama City, Panama
(Address of principal executive offices)
602-466-3666
(Issuer’s telephone number)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
YES	[ X ]	NO	[  ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company.  See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act
Large accelerated filer			[  ]				Accelerated filer				[  ]
Non-accelerated filer			[  ]	(Do not check if a smaller reporting company)			Smaller reporting company				[ X ]
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act
							[ X ]	YES	[  ]	NO
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS   Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.
							[  ]	YES	[  ]	NO
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
							[  ]	YES	[  ]	NO
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
30,000,000 common shares issued and outstanding as of May 6, 2013.

 

 

ITEM 1.

FINANCIAL STATEMENTS

 

 

(A Pre-Exploration Stage Company)

UNAUDITED CONDENSED FINANCIAL STATEMENTS

 

	PAGE
Condensed Balance Sheets	F-1
Condensed Statements of Operations	F-2
Condensed Statements of Cash Flows	F-3
Notes to Condensed Financial Statements	F-4 to F-

 

(A Pre-Exploration Stage Company)

 

		March 31,  2013				December 31, 2012
Assets		(Unaudited)				(Audited)
Total Assets		$	-			$	-
Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable		$	685			$	1,686
Advances			87,590				83,428
Notes payable to related party			1,675				1,675
Accrued interest on note payable to related party			377				356
Total current liabilities			90,327				87,145
Stockholders’ Deficit:
Capital stock 50,000,000 common stock authorized, $0.001 par value         30,000,000 common shares issued and outstanding			30,000				30,000
Additional paid in capital			(15,000	)			(15,000	)
Deficit accumulated during pre-exploration stage			(105,327	)			(102,145	)
Total stockholders’ deficit			(90,327	)			(87,145	)
Total Liabilities and Stockholders’ Deficit		$	-			$	-

See accompanying notes to the condensed financial statements

 

For the Period from August 11, 2008 (Inception) to March 31, 2013

		Three Months ended March 31, 2013				Three Months ended March 31, 2012				Cumulative from August 11, 2008 (Inception) to March 31, 2013
Revenues		$	-			$	-			$	-
Expense
Exploration costs			-				-				4,856
General and administrative expense			3,161				2,744				75,094
Impairment of mineral property rights			-				-				25,000
Total expenses			3,161				2,744				104,950
Loss from operations			( 3,161	)			(2,744	)			( 104,950	)
Other income/(expense)
Interest expense			( 21	)			( 21	)			( 377	)
Total other expense			( 21	)			( 21	)			( 377	)
Net loss		$	( 3,182	)		$	( 2,765	)		$	( 105,327	)
Net loss per common share:
Basic and diluted		$	(0.00	)		$	(0.00	)		$	(0.04	)
Weighted average common shares outstanding:
Basic and diluted			30,000,000				30,000,000				30,000,000

 

 

		Three Months ended March 31, 2013				Three months ended March 31, 2012				Cumulative from August 11, 2008 (Inception) to March 31, 2012
Operating Activities
Net loss		$	(3,182	)		$	(2,765	)		$	(105,327	)
Items not affecting cash:
- impairment of mineral property rights			-								25,000
Changes in balances of assets and liabilities:
- accrued interest			21				21				377
-accounts payable and accrued expense			(1,001	)			48				685
Cash used in operating activities			(4,162	)			(2,696	)			(79,265	)
Investing activities
Acquisition of mineral property rights			-				-				(25,000	)
Cash used in investing activities			-				-				(25,000	)
Financing activities
Proceeds from subscriptions of stock			-				-				15,000
Proceeds advances from a third party			4,162				2,696				87,590
Proceeds from related party debt			-				-				1,675
Cash provided by financing activities			4,162				2,696				104,265
Net increase (decrease) in cash			-				-				-
Cash, beginning of period			-				-				-
Cash, end of period		$	-			$	-			$	-
Supplemental disclosure of cash flow information
Cash paid for income taxes		$	-			$	-			$	-
Cash paid for interest		$	-			$	-			$	-

 

 

i.

$5,000 upon the execution of the agreement, to hold the property for one year from the effective date:

ii.

$10,000 due on the first anniversary of the agreement;

iii.

$15,000 due on the second anniversary of the agreement;

iv.

$25,000 due on the third anniversary of the agreement; and

v.	$25,000 on each subsequent anniversary of the agreement.

Date		Payment Amount		Extended Term Date
Aug 12, 2008		$  5,000.00
May 15, 2009		$  5,000.00		May 13, 2010
May 13, 2010		$  2,500.00		November 15, 2010
November 19, 2010		$  2,500.00		May 15, 2011
May 12, 2011		$  2,500.00		November 15, 2011
October 21, 2011		$  2,500.00		May 15, 2012
May 4, 2012		$  2,500.00		November 15, 2012
November 14, 2012		$  2,500.00		May 15, 2013

During the year ended December 31, 2012, Braeden paid $606 in exploration costs associated with annual maintenance fees. On May 4, 2012 and November 14, 2012, the Company made payments of $2,500 each, for acquisition fees. The November 14, 2012 payment extended the due date of the required $25,000 payment referred to above (footnote 7 iv), for 7 months (to May 15, 2013). At December 31, 2012, the Company could not project any positive net cash flows from this investment; therefore, we recorded a related impairment loss of $5,000 in the statement of operations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		Three Months Ended March 31, 2013($)				Three Months Ended March 31, 2012($)				Change Between Three Month Period Ended March 31, 2013 and March 31, 2012($)
Revenue		Nil				Nil				Nil
Operating Expenses			3,161				2,744				417
Net (Loss)			(3,182	)			(2,765	)			417

 

 

 

		Three Months Ended
		March 31
		2013				2012
Exploration costs		$	0			$	0
General and administrative expenses		$	3,161			$	2,744

 

 

 

 

		At				At
Cash Flows		March 31, 2013				March 31, 2012
Net Cash Used in Operating Activities		$	(4,162	)		$	(2,696	)
Net Cash Provided by (Used In) Investing Activities		$	-			$	-
Net Cash Provided by Financing Activities		$	4,162			$	2,696
Cash increase (decrease) during the period		$	-			$	-

 

 

 

 

 

 

 

 

 

 

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

 

ITEM 4.

CONTROLS AND PROCEDURES.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit No.	Document Description
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.		Filed herewith
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.		Filed herewith
101.INS*		XBRL Instance Document	Filed herewith.
101.SCH*		XBRL Taxonomy Extension Schema Document	Filed herewith.
101.CAL*		XBRL Taxonomy Extension Calculation Linkbase Document	Filed herewith.
101.LAB*		XBRL Taxonomy Extension Labels Linkbase Document	Filed herewith.
101.PRE*		XBRL Taxonomy Extension Presentation Linkbase Document	Filed herewith.
101.DEF*		XBRL Taxonomy Extension Definition Linkbase Document	Filed herewith.

* Pursuant to Regulation S-T, this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections.

		BRAEDEN VALLEY MINES INC.
Date:  May 20, 2013	By:	/s/ Ron Erickson
	Name:	Ron Erickson
	Title:	President (Principal Executive Officer, Principal Financial and Principal Accounting Officer