10-Q Filing

VERITAS FARMS, INC. CIK: 1669400 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001640334-16-002179`
Period End Date	20161031
Filing Date	20161206
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	armeau-20161031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 32 Income Statement 28 Cash Flow Statement 30

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
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.23K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$109.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$60.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.45M	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`	$15.23K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.45M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.50M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.16K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$288.00	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`	$62.92K	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 9,450,000 and 7,500,000 shares issued and outstanding, respectively	`CommonStockValue`	$7.50K	USD	Point-in-time
Common stock Authorized: 200,000,000 common shares, $0.001 par value 9,450,000 and 7,500,000 shares issued and outstanding, respectively	`CommonStockValue`	$9.45K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$44.65K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$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`	$-62.78K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-101.80K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-62.68K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-47.70K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$15.23K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$15.00	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$6.78K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$54.00	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$209.00	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.55K	USD	1 Quarter
Product development	`BusinessDevelopment`	-	USD	1 Quarter
Product development	`BusinessDevelopment`	$500.00	USD	3 Qtrs
Product development	`BusinessDevelopment`	-	USD	3 Qtrs
Product development	`BusinessDevelopment`	$300.00	USD	1 Quarter
Professional fees	`ProfessionalFees`	$32.24K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	-	USD	3 Qtrs
Professional fees	`ProfessionalFees`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$15.34K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.89K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$709.00	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$39.02K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$354.00	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-709.00	USD	3 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-354.00	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-39.02K	USD	3 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-17.89K	USD	1 Quarter
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-7.09	USD	3 Qtrs
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-3.54	USD	1 Quarter
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.37M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.13M	shares	3 Qtrs

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-709.00	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-354.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-39.02K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-17.89K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.87K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	3 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	-	USD	3 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$3.10K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-709.00	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-38.79K	USD	3 Qtrs
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	$660.00	USD	3 Qtrs
Proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	$54.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$660.00	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$54.00K	USD	3 Qtrs
Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-49.00	USD	3 Qtrs
Increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$15.21K	USD	3 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.23K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$109.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.23K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$109.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.00	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs

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