ZHRH Corp - Quarter Report: 2014 December (Form 10-Q)

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

Mark One

[ X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2014

[   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _______

Commission File No. 333-192874

(Exact name of registrant as specified in its charter)

 

 

7260 W. Azure Dr., Suite 140-951

Las Vegas, NV 89130

Tel.: (212) 960-8595

(Address and Telephone No. of Principal Executive Office)

                                             

 

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [  ] Accelerated filer [   ] Non-accelerated filer [   ] Smaller reporting company [X]

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [ X ]  No [  ]

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years.

N/A

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court.  Yes[   ]  No[ X ]

Applicable Only to Corporate Registrants

Indicate the number of shares outstanding of each of the Issuer's classes of common stock, as of the most practicable date:

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Table of Contents

 

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PART 1 - FINANCIAL INFORMATION

 

 

 

 

The accompanying notes are an integral part of these financial statements.

 

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KETDARINA CORP.

Condensed Statements of Cash Flows

(unaudited)

 

		Six months Ended December 31, 2014				Six months Ended December 31, 2013
Cash flows from operating activities:
Net loss for the period		$	(17,953	)		$	(6,924	)
Adjustments to reconcile net loss to net cash (used in) operating activities:
Changes in operating assets and liabilities:
Increase (decrease) in accrued expenses			-				-
Net cash (used in) operations			(17,953	)			(6,924	)
Cash form from investing activities
Loans from director			-				7,340
Repayment of director loan			(11,263	)			-
Net cash (used in) provided by investing activities			(11,263	)			7,340
Net increase (decrease) in cash			(29,216	)			416
Cash, beginning of the period			29,216				17,563
Cash, end of the period		$	-			$	17,979
Supplemental Cash Flow Information:
Interest paid		$	-			$	-
Income taxes paid		$	-			$	-
Non cash activity
Forgiveness of Debt		$	16,537			$	-

The accompanying notes are an integral part of these financial statements.

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KETDARINA CORP.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

December 31, 2014

NOTE 1 — CONDENSED FINANCIAL STATEMENTS

Ketdarina Corp. was incorporated under the laws of the State of Nevada on July 13, 2011.  Until November 19, 2014, we were in the business of wholesale of bedding products to industrial, commercial and institutional retailers, and other professional business users, or to other wholesalers and related subordinated services.

On November 19, 2014, as reported in our Form 8-K which was filed with the Securities and Exchange Commission on November 28, 2014, the previous principal shareholders: (a) sold their shares to Western Highlands Minerals, Ltd., a Vietnamese corporation "WHM"); (b) resigned as our management and appointed WHM's designees as new management, (c) took over the inactive bedding business from us, and (d) cancelled all previous debt which we owed to them.

Since the change of control, although engaging in ongoing discussions, WHM and its designees have not entered into any agreements or understandings by which we would acquire any assets or a business.

The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments)  necessary to present fairly the financial position, results of operations and cash flows as of and for the period ended December 31, 2014 and for all periods presented have been made.  

 

Certain information and 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.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's June 30, 2014 audited financial statements as reported in its Form 10-K. The results of operations for the six-month period ended December 31, 2014 are not necessarily indicative of the operating results for the full year ended June 30, 2014.

 

NOTE 2 — GOING CONCERN

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.  However, the Company had no revenues through the six months ended December 31, 2014, and is no longer in the bedding business.  The Company currently has no working capital, and has not completed the acquisition of any assets or a business.  

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KETDARINA CORP.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

December 31, 2014

NOTE 2 — GOING CONCERN – (CONTINUED)

Management anticipates that the Company will be dependent, for the near future, on investment capital to fund any acquisitions and operating expenses.  The Company intends to position itself so that it may be able to raise funds through the capital markets. New management can give no assurances that the Company will be successful in this or any of its endeavors or become financially viable as a going concern.

NOTE 3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.  

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America ( " GAAP "  accounting).  The Company has adopted a June 30 fiscal year end.

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $0 of cash and cash equivalents as of December 31, 2014 and $29,216 of cash and cash equivalents as of June 30, 2014.

The Company's financial instruments consist of cash and cash equivalents and amounts due to shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

The preparation of financial statements in conformity with generally accepted accounting principles 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 the

 

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KETDARINA CORP.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

December 31, 2014

NOTE 3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- (CONTINUED)

financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Basic income (loss) per share is calculated by dividing the Company's net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company ' s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of December 31, 2014.

The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders' Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.

Ketdarina Corp. does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position or cash flow.

 

 

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KETDARINA CORP.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

December 31, 2014

NOTE 4 — LOAN FROM DIRECTOR

On February 2, 2012, the director loaned $100 to open bank account.

 

On March 22, 2012, director loaned $180 for Sample Purchase.

 

On December 4, 2013, the director loaned $3,670 to cover Professional fees.

 

On December 5, 2013, the director loaned $3,670 to cover Professional fees.

 

During the year ended June 30, 2014, the director loaned $20,000 to fund operations for the Company.

The loans are unsecured, non-interest bearing and due on demand

As part of the change of control, the now-former director forgave all indebtedness owed to him as of November 19, 2014.

 

NOTE 5 — COMMON STOCK

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

 

On February 10, 2012, the Company issued 2,000,000 shares of common stock for cash proceeds of $2,000 at $0.001 per share.

 

On May 3, 2012, the Company issued 1,680,000 shares of common stock for cash proceeds of $16,772 at $0.01 per share.

 

In February 2014, the Company issued 60,000 shares of common stock for cash proceeds of $600 at $0.01 per share.

 

There were 3,740,000 shares of common stock issued and outstanding as of December 31, 2014.

NOTE 6 — COMMITMENTS AND CONTINGENCIES

The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.  There is no obligation for the officer to continue this arrangement.  Such costs are immaterial to the financial statements and accordingly are not reflected herein.  The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

NOTE 7 — SUBSEQUENT EVENTS

In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations up to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

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FORWARD LOOKING STATEMENTS

Statements made in this Quarterly Report on Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

 

	Ketdarina Corp.
Dated: February 23, 2015	By: /s/ Martin Doan
	Martin Doan, Chief Executive Officer