JETBLACK CORP.
|
(Exact name of small business issuer as specified in its charter)
|
Nevada
|
98-0379431
|
|
(State or other jurisdiction of incorporation or organization)
|
(IRS Employer Identification No.)
|
Large accelerated filer | o | Accelerated filer | o |
Non-accelerated filer | o | Smaller reporting company | x |
(Do not check if a smaller reporting company) |
Page | ||||
Consolidated Balance Sheets at May 31, 2014 and August 31, 2013 (Unaudited)
|
3 | |||
Consolidated Statements of Operations (Unaudited)
|
4 | |||
Consolidated Statements of Cash Flows (Unaudited)
|
5 | |||
Notes to the Consolidated Financial Statements (Unaudited)
|
6 |
Three Months Ended
|
Three Months Ended
|
Nine Months Ended
|
Nine Months Ended
|
April 17, 2002 (Inception) to
|
||||||||||||||||
May
31,
|
May
31,
|
May
31,
|
May
31,
|
May
31,
|
||||||||||||||||
|
2014
|
2013
|
2014
|
2013
|
2014
|
|||||||||||||||
$ | $ | $ | $ | $ | ||||||||||||||||
|
||||||||||||||||||||
REVENUE
|
– | – | – | – | 7,569 | |||||||||||||||
COST OF GOODS SOLD
|
– | – | – | – | (1,333 | ) | ||||||||||||||
GROSS PROFIT
|
– | – | – | – | 6,236 | |||||||||||||||
|
||||||||||||||||||||
EXPENSES
|
||||||||||||||||||||
Inventory write-down
|
– | – | – | – | 1,400 | |||||||||||||||
General and administrative
|
6,204 | 5,324 | 23,641 | 21,284 | 234,966 | |||||||||||||||
Total Expenses
|
6,204 | 5,324 | 23,641 | 21,284 | 236,366 | |||||||||||||||
Loss from Operations
|
(6,204 | ) | (5,324 | ) | (23,641 | ) | (21,284 | ) | (230,130 | ) | ||||||||||
OTHER EXPENSES
|
||||||||||||||||||||
Interest expense
|
(800 | ) | – | (800 | ) | – | (800 | ) | ||||||||||||
NET LOSS
|
(7,004 | ) | (5,324 | ) | (24,441 | ) | (21,284 | ) | (230,930 | ) | ||||||||||
NET LOSS PER SHARE: | ||||||||||||||||||||
BASIC AND DILUTED
|
(0.00 | ) | (0.00 | ) | (0.00 | ) | (0.00 | ) | ||||||||||||
WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||||||||||||||||||
BASIC AND DILUTED
|
67,352,000 | 67,352,000 | 67,352,000 | 67,352,000 |
|
Nine Months Ended
May 31,
2014
|
Nine Months Ended
May 31,
2013
|
April 17, 2002 (Inception) to
May 31,
2014
|
|||||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|||||||||
Net loss
|
$ | (24,441 | ) | $ | (21,284 | ) | $ | (230,930 | ) | |||
Adjustments to reconcile net loss to cash used by
operating activities:
|
||||||||||||
Common stock issued for services
|
– | – | 655 | |||||||||
Impairment
|
– | – | 1,800 | |||||||||
Change in current assets and liabilities
|
||||||||||||
Inventory
|
– | – | (1,800 | ) | ||||||||
Accrued interest – related party
|
800 | 800 | ||||||||||
Accounts payable and accrued expenses
|
(4,787 | ) | 471 | 4,982 | ||||||||
CASH FLOWS USED BY OPERATING ACTIVITIES
|
(28,428 | ) | (20,813 | ) | (224,493 | ) | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||||||
Advances from shareholders
|
– | – | 3,072 | |||||||||
Proceeds from promissory note – related party
|
40,000 | – | 40,000 | |||||||||
Proceeds from issuance of common stock
|
– | – | 193,795 | |||||||||
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES
|
40,000 | – | 236,867 | |||||||||
NET CHANGE IN CASH
|
11,572 | (20,813 | ) | 12,374 | ||||||||
Cash, beginning of period
|
802 | 21,645 | – | |||||||||
Cash, end of period
|
$ | 12,374 | $ | 832 | $ | 12,374 | ||||||
SUPPLEMENTAL CASH FLOW INFORMATION
|
||||||||||||
Interest paid
|
$ | – | $ | – | $ | – | ||||||
Income taxes paid
|
$ | – | $ | – | $ | – | ||||||
Non Cash Transactions
|
||||||||||||
Contributed capital – forgiveness of accrued interest
|
$ | – | $ | – | $ | 1,397 | ||||||
Issuance of Common Stock for Subscription Receivable
|
$ | – | $ | – | $ | 12,822 |
Exhibit No.
|
Document Description
|
|
31.1*
|
Section 302 Certification of Chief Executive Officer and Chief Financial Officer
|
|
32.1*
|
Section 906 Certification of Chief Executive Officer and Chief Financial Officer
|
|
101.INS*
|
XBRL Instance Document
|
|
101.SCH*
|
XBRL Taxonomy Extension Schema Document
|
|
101.CAL*
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
101.DEF*
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
101.LAB*
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
101.PRE*
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
JETBLACK CORP. | |||
Date: July 21, 2014
|
By:
|
/s/ Nigel Farnsworth | |
Name: | Nigel Farnsworth | ||
Title: |
President, Chief Executive Officer,
Chief Financial Officer and Director
(Principal Executive Officer and Principal Financial and Accounting Officer)
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Jetblack Corp.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))
for the registrant and have:
|
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles
|
|
(c)
|
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
(d)
|
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
5.
|
The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
Date: July 21, 2014
|
By:
|
/s/ Nigel Farnsworth | |
Name: | Nigel Farnsworth | ||
Title: |
President, Chief Executive Officer,
Chief Financial Officer and Director
(Principal Executive Officer and Principal Financial and Accounting Officer)
|
(1)
|
the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
the information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
|
Date: July 21, 2014
|
By:
|
/s/ Nigel Farnsworth | |
Name: | Nigel Farnsworth | ||
Title: |
President, Chief Executive Officer,
Chief Financial Officer and Director
(Principal Executive Officer and Principal Financial and Accounting Officer)
|