10-Q Filing

VERITAS FARMS, INC. CIK: 1669400 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001640334-16-001220`
Period End Date	20160430
Filing Date	20160616
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	armeau-20160430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 32 Income Statement 14 Cash Flow Statement 28

Balance Sheet 32 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$109.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$174.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.44K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.50M	shares	Point-in-time
Total assets	`Assets`	$15.00	USD	Point-in-time
Total assets	`Assets`	$7.44K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.50M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.68K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.16K	USD	Point-in-time
Due to related party (Note 3)	`DueToRelatedPartiesCurrent`	$59.54K	USD	Point-in-time
Due to related party (Note 3)	`DueToRelatedPartiesCurrent`	$62.64K	USD	Point-in-time
Total liabilities	`Liabilities`	$68.32K	USD	Point-in-time
Total liabilities	`Liabilities`	$62.70K	USD	Point-in-time
Common stock Authorized: 200,000,000 common shares, $0.001 par value 7,500,000 shares issued and outstanding	`CommonStockValue`	$7.50K	USD	Point-in-time
Common stock Authorized: 200,000,000 common shares, $0.001 par value 7,500,000 shares issued and outstanding	`CommonStockValue`	$7.50K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.60K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.60K	USD	Point-in-time
Share subscriptions receivable (Note 4)	`CommonStockSharesSubscriptions`	$-15.00K	USD	Point-in-time
Share subscriptions receivable (Note 4)	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-75.98K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-62.78K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-60.88K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-62.68K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$15.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$7.44K	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$1.31K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$135.00	USD	1 Quarter
Product development	`BusinessDevelopment`	-	USD	1 Quarter
Product development	`BusinessDevelopment`	$200.00	USD	1 Quarter
Professional fees	`ProfessionalFees`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$11.89K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.20K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$335.00	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-13.20K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-335.00	USD	1 Quarter
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-3.35	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.50M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00	shares	1 Quarter

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-13.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-335.00	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.52K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	1 Quarter
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	-	USD	1 Quarter
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$3.10K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-335.00	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.58K	USD	1 Quarter
Proceeds from related parties	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from related parties	`ProceedsFromRelatedPartyDebt`	$400.00	USD	1 Quarter
Share subscriptions received	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Share subscriptions received	`ProceedsFromIssuanceOfCommonStock`	$15.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$400.00	USD	1 Quarter
Increase in cash	`CashPeriodIncreaseDecrease`	$65.00	USD	1 Quarter
Increase in cash	`CashPeriodIncreaseDecrease`	$7.42K	USD	1 Quarter
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$109.00	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.00	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$174.00	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.44K	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$109.00	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$15.00	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$174.00	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.44K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.