ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

ADMV Adamas Ventures Inc (GM)

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Adamas Ventures Inc (GM) USOTC:ADMV OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Quarterly Report (10-q)

15/09/2015 11:05am

Edgar (US Regulatory)


 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

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

For the quarterly period ended July 31, 2015

OR

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

For the transition period from ____ to _____ 

 

Commission file number: 333-194492 

 

 

ADAMAS VENTURES, INC.

(Exact name of Registrant as specified in its charter)

 

Nevada

(State or other jurisdiction of incorporation or organization)

 

N/A

(I.R.S. Employer Identification No.)

 

Room 1403, No. 408 Jie Fang Zhong Road

Guangzhou, Guangdong, PR China, 510030

(Address of principal executive offices, including zip code)

 

86-2028-8808

(Registrant's telephone number, including area code)

 

 

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. 

[X] 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 (§232.045 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 [ 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.

[ ]YES [X]NO

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Common Stock   Outstanding Shares at July 31, 2015
Common stock, par value $0.0001 per share   20,000,000  

  

 

 

 

ADAMAS VENTURES, INC.

INDEX

 
       
      Page
Part I. Financial Information  
       
  Item 1 Financial Statements  
    Balance Sheets as of July 31, and January 31, 2015 1
    Statements of Operations for the three months ended July 31, 2015 and July 31, 2014 2
    Statements of Cash Flows for the three monthsended July 31, 2015 and July 31, 2014 3
    Notes to the Unaudited Condensed Consolidated Financial Statements 4
  Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 7
  Item 3 Quantitative and Qualitative Disclosures about Market Risk 8
  Item 4 Controls and Procedures 8
       
Part II. Other Information  
       
  Item 1 Legal Proceedings 9
  Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 9
  Item 3 Defaults upon Senior Securities 9
  Item 4 Submission of Matters to a Vote of Security Holders 9
  Item 5 Other Information 9
  Item 6 Exhibits 9
       
Signatures 10

 

 


 

PART 1 - FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

 

Adamas Ventures Inc.
(A Development Stage Company)
Balance Sheets
 
                        July 31,  January 31,  
                        2015 2015  
                        (Unaudited) (Audited)  
                  ASSETS          
Current Assets                    
  Cash and Cash Equivalents          $                     2,285  $                     2,285  
TOTAL ASSETS                $                     2,285  $                     2,285  
                             
                  LIABILITIES AND STOCKHOLDERS' EQUITY          
                             
Current Liabilities                    
  Accounts Payable and Accrued Liabilities       $                     1,250  $                             -  
TOAL CURRENT LIABILITIES          $                     1,250  $                             -  
                             
                             
Stockholders' Equity                  
Common Stock                    
Authorized:                    
75,000,000 common shares at $0.0001 par value          
Issued and Outstanding:          
20,000,000 common shares at $0.0001 par value                             2,000                         2,000  
Additional Paid-in Capital                                      8,000                         8,000  
(Deficit) accumulated during the development stage                            (8,965)                        (7,715)  
TOTAL  STOCKHOLDERS' EQUITY        $                     1,035  $                     2,285  
                             
TOTAL LIABILITIES AND EQUITY        $                     2,285  $                     2,285  
                             
                             
                             
The accompanying notes are an integral part of these financial statements

 

 

Adamas Ventures Inc.
(A Development Stage Company)
Statements of Operations
                   
          For the Three
Months Ended
For the Six
Months Ended
 
          July 31, July 31, July 31, July 31,  
          2015 2014 2015 2014  
Revenues                     -                        -  
                   
General and Administration Expenses        
  Filing Fees                       -                   213  
  Professional Fees  $                         -                   -  $              1,250              1,125  
Total Expenses    $                         -                   -  $              1,250              1,338  
                   
Operating loss    $                         -                   -  $            (1,250)             (1,338)  
                   
Net (loss) for the period  $                         -  $               -  $            (1,250)  $         (1,338)  
                   
Net (loss) per share              
  Basic and diluted    $                         -  $               -  $                     -  $                  -  
                   
Weighted Average Shares Outstanding        
  Basic and diluted   20,000,000 20,000,000 20,000,000 20,000,000  
                   
                   
The accompanying notes are an integral part of these financial statements.

 

 

 

 

Adamas Ventures Inc.
(A Development Stage Company)
Statement of Cash Flows
                 
          For Six Months Ended
Ended
   
          July 31,  July 31,    
          2015 2014    
                 
Cash Flow from Operating Activities        
  Net (loss) for the period  $                     (1,250)               (1,338)    
Changes in Non-Cash Working Capital Items        
  Accounts Payable and Accrued Liabilities                           1,250      
Net Cash Flow Used in Operating Activities  $                              -               (1,338)    
                 
                 
Net Change in Cash  $                              -  $           (1,338)    
                 
Cash, Beginning of Period  $                      2,285  $             6,675    
                 
Cash,  End of Period  $                      2,285  $             5,337    
                 
                 
                 
                 
The accompanying notes are an integral part of these financial statements.

 

 

 

 

3


 

ADAMAS VENTURES, INC.

NOTES TO THE FINANCIAL STATEMENTS

(Unaudited)

 

Note 1: Organization and Basis of Presentation

 

Adamas Ventures, Inc. (the “Company”) is a for profit corporation established under the corporation laws in the State of Nevada, United States of America on January 31, 2014.

 

The Company is in the development phase and intends to sell baby products. As such, the Company is subject to all risks inherent to the establishment of a start-up business enterprise.

 

The Financial Statements and related disclosures as of October 31, 2014 are audited pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The October 31, 2014, Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In our opinion, these financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair statement of the results for the period. These financial statements should be read in conjunction with the financial statements for the nine months ended October 31, 2014. Unless the context otherwise requires, all references to “Adamas Ventures,” “we,” “us,” “our” or the “company” are to Adamas Ventures, Inc. and any subsidiaries.

 

 

Note 2: Recent Accounting Pronouncements

 

In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, (“ASU 2011-11”). ASU 2011-11 requires an entity to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. ASU 2011- 11 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Retrospective disclosure is required for all comparative periods presented. The adoption of ASU 2011-11 did not have a material impact on the Company’s financial statements. In October 2012, the FASB issued ASU No. 2012-04, Technical Corrections and Improvements, (“ASU 2012-04”). This update includes source literature amendments, guidance clarification, reference corrections and relocated guidance affecting a variety of topics in the Codification. The update also includes conforming amendments to the Codification to reflect ASC 820’s fair value measurement and disclosure requirements. The amendments in this update that will not have transition guidance are effective upon issuance. The amendments in this update that are subject to the transition guidance will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 did not have a material impact on the Company’s financial statements.

 

In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (“ASU 2013-01”). This update clarifies that ordinary trade receivables and receivables are not in the scope of ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). Specifically, ASU 2011-11 applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in the FASB Accounting Standards Codification or subject to a master netting arrangement or similar agreement. The Company is required to apply the amendments in ASU 2013-01 beginning January 1, 2013. The adoption of ASU 2013-01 by the Company did not have a material impact on the consolidated financial statements.

 

In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update, or ASU, 2013-02, Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This update requires companies to provide information regarding the amounts reclassified out of accumulated other comprehensive income by component. In addition, companies are required to present, either on the face of the statement where net income is presented or in the accompanying notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. ASU 2013-02 was adopted January 1, 2013 and did not have a significant impact on our financial statements.

 

Note 3: Concentrations

 

The company has not had any sales.

 

Note 4: Legal Matters

 

The Company has no known legal issues pending.

 

Note 5: Debt

 

The Company has no debt.

4


 

NOTES TO THE FINANCIAL STATEMENTS (continued)

 

Note 6: Capital Stock

 

On January 31, 2014 the Company authorized 75,000,000 shares of commons stock with a par value of $0.0001 per share.

 

On January 31, 2014 the Company issued 20,000,000 shares of common stock for a purchase price of $0.0001 per share to its founding shareholder. The Company received aggregate gross proceeds of $10,000.00.

 

As of July 31, 2015 there were no outstanding stock options or warrants.

 

Note 7: Income Taxes

 

The Company uses the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.

 

ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.

 

Note 8: Related Party Transactions

 

The Company neither owns nor leases any real or personal property. The sole officer of the Company provides office space and services free of charge. The Company's sole officer and director is involved in other business activities and may in the future, become involved in other business opportunities as they become available.

 

Note 9: Subsequent Events

 

The Company has evaluated events subsequent through the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that no subsequent events occurred that require recognition or disclosure in the financial statements.

 

Note 10: Going Concern

 

The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern.

 

For the period ended July 31, 2015, the Company had an accumulated deficit of $8,965 and working capital of $2, 285, which may not be sufficient to sustain operations over the next 12 months. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock.

 

Management plans to fund operations of the Company through the proceeds from an offering pursuant to a Registration Statement on Form S-1 or private placements of restricted securities or the issuance of stock in lieu of cash for payment of services until such a time as profitable operations are achieved. There are no written agreements in place for such funding or issuance of securities and there can be no assurance that such will be available in the future. Management believes that this plan provides an opportunity for the Company to continue as a going concern.

 

The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.

 

5


 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

        

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

 

The following discussion and analysis provides information which management of ADAMAS VENTURES, INC. (the "Company") believes to be relevant to an assessment and understanding of the Company's results of operations and financial condition. This discussion should be read together with the Company's financial statements and the notes to financial statements, which are included in this report.

 

Caution About Forward-Looking Statements

 

This management's discussion and analysis or plan of operation should be read in conjunction with the financial statements and notes thereto of the Company for the quarter ended July 31, 2015.

 

This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this prospectus. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

 

General Overview

 

We are a development stage company and plan to operate in the distribution of baby products. We plan to market and distribute an assortment of high quality baby products in the Central and South American markets. Our products will include cribs, strollers, clothing, shoes, bottles, bibs, blankets, and toys. Some of our baby products will be designed as part of a series, meaning they will be designed and made in the same color-scheme and style. We intend to purchase baby products from manufacturers in China, ship them to Central and South America and sell the products directly to retailers. We are identifying potential manufacturers, shipping companies and negotiating arrangements for such products and services. In addition, we are securing office space and developing a website.

 

6


ITEM 2 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued)

 

Results of Operations

 

The Company experienced general and administration expenses of $1 250 and $1,338 for the six months ended July 31, 2015 and 2014, respectively. The decrease in general and administration expenses for this period are attributed to an decrease in filings fees.

 

For the six months period ended July 31, 2015, the company experienced a net loss of $1,250 compared to a loss of $1,338 for the six months ended July 31, 2014.

 

Liquidity and Capital Resources

 

During the three months period ended July 31, 2015, the Company had no working capital needs. As of July 31, 2015, the Company has cash on hand in the amount of $2, 285. Management does not expect that the current level of cash on hand will be sufficient to fund our operations for the next twelve month period. In the event that additional funds are required to maintain operations, our officers and directors have agreed to advance us sufficient capital to allow us to continue operations. We may also be able to obtain loans from our shareholders, but there are no agreements or understandings in place currently.

 

We believe we will require additional funding to expand our business and ensure its future profitability. We anticipate that any additional funding will be in the form of equity financing from the sale of our common stock. However, we do not have any arrangements in place for any future equity financing. In the event we are not successful in selling our common stock, we may also seek to obtain short-term loans from our director.

 

 

 

7


 

Item 3. Quantitative Disclosures about Market Risks

 

As a "smaller reporting company", we are not required to provide the information required by this Item.

 

Item 4. Controls and Procedures.

 

Management's Report on Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our president (our principal executive officer and our principal financial officer and principle accounting officer) to allow for timely decisions regarding required disclosure.

 

As of July 31, 2015, the end of our quarter covered by this report, we carried out an evaluation, under the supervision and with the participation of our president (our principal executive officer and our principal financial officer and principle accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our president (our principal executive officer and our principal financial officer and principle accounting officer) concluded that our disclosure controls and procedures were effective as of the end of the period covered by this quarterly report.

 

Changes in Internal Control over Financial Reporting

 

There have been no changes in our internal controls over financial reporting that occurred during the quarter ended July 31, 2015 that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

 

8


 

PART II - OTHER INFORMATION

 

Item 1. Legal Proceedings

 

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

None.

 

Item 3. Defaults Upon Senior Securities

 

None.

 

Item 4. Submission of Matters to a Vote of Security Holders

 

None.

 

Item 5. Other Information

 

None.

 

Item 6. Exhibits

 

Exhibit No.   Exhibit Description
31.1*   Certification of Principal Executive Officer and Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*   Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

 

9


 

 

SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.

 

 

ADAMAS VENTURES, INC.

 

 
   
Date : September 14, 2015 /s/ Jinshan Dai
       Jinshan Dai
  President, Treasurer and Secretary
  (Principal Executive, Financial and Accounting Officer)

 

 

 

10

 

 



Exhibit 31. CERTIFICATION AS REQUIRED BY RULE 13a-14(a) OR RULE 15d-14(a)

I,  Jinshan Dai, certify that:

I have reviewed this quarterly report of Adamas Ventures, Inc.. 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; 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 small business issuer as of, and for, the periods presented in this report; The small business issuer'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(3)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the small business issuer 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 small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which the 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 small business issuer'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 small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design of operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer'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 small business issuer's internal control over financial reporting.

Dated: September 14, 2015

/s/ Jinshan Dai

Jinshan Dai

President, Treasurer and Secretary



EX-32. CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 (18 U.S.C. SECTION 1350)

In connection with the report of Adamas Ventures, Inc. (the "Company"), on Form 10-QSB for the quarter ending July 31, 2015, as filed with the Securities and Exchange Commission (the "Report"), I, Jinshan Dai, Chief Executive Officer of the Company, certify, pursuant to Sect 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Sect 1350), that to my knowledge:

(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.

Dated: September 14, 2015

/s/ Jinshan Dai

Jinshan Dai

President, Chief Executive Officer, Treasurer and Secretary



v3.3.0.814
Document and Entity Information
6 Months Ended
Jul. 31, 2015
USD ($)
shares
Document And Entity Information  
Entity Registrant Name Adamas Ventures Inc.
Entity Central Index Key 0001600694
Document Type 10-Q
Document Period End Date Jul. 31, 2015
Amendment Flag false
Current Fiscal Year End Date --01-31
Is Entity a Well-known Seasoned Issuer? No
Is Entity a Voluntary Filer? No
Is Entity's Reporting Status Current? No
Entity Filer Category Smaller Reporting Company
Entity Public Float $ 3,600,000
Entity Common Stock, Shares Outstanding | shares 20,000,000
Document Fiscal Period Focus Q2
Document Fiscal Year Focus 2015


v3.3.0.814
Balance Sheets - USD ($)
Jul. 31, 2015
Jan. 31, 2015
ASSETS    
Cash and Cash Equivalents $ 2,285 $ 2,285
TOTAL ASSETS 2,285 $ 2,285
Current Liabilities    
Accounts Payable and Accrued Liabilities 1,250
TOTAL CURRENT LIABILITIES 1,250
Stockholders' Equity    
Issued and Fully paid: 20,000,000 common shares at $0.0001 par value 2,000 $ 2,000
Additional paid in capital 8,000 8,000
(Deficit) accumulated during the development stage (8,965) (7,715)
TOTAL STOCKHOLDERS' EQUITY 1,035 2,285
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,285 $ 2,285


v3.3.0.814
Balance Sheets (Parenthetical) - $ / shares
Jul. 31, 2015
Jan. 31, 2015
Statement of Financial Position [Abstract]    
Common Stock Par Value $ 0.0001 $ 0.0001
Common Stock Authorized 75,000,000 75,000,000
Common Stock Issued and Outstanding 20,000,000 20,000,000


v3.3.0.814
Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jul. 31, 2015
Jul. 31, 2014
Jul. 31, 2015
Jul. 31, 2014
General and Administration Expenses        
Filing Fee $ 0 $ 0 $ 0 $ 213
Professional Fees 0 0 1,250 1,125
Operating Loss 0 0 1,250 1,338
Net (loss) for the period $ 0 $ 0 $ (1,250) $ (1,338)
Net (loss) per share        
Basic and diluted
Weighted Average Number of Common        
Shares Outstanding - Basic and Diluted 20,000,000 20,000,000 20,000,000 20,000,000


v3.3.0.814
Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended
Jul. 31, 2015
Jul. 31, 2014
Jul. 31, 2015
Jul. 31, 2014
Cash flow from Operating Activities        
Net loss $ 0 $ 0 $ 1,250 $ 1,338
Change in Non-Cash Working Capital Items:        
Accounts Payable and Accrued Liabilities     $ 1,250
Net Cash Flow Used in Operating Activities     $ (1,338)
Investing Activities        
Due from Related Party    
Financing Activities        
Capital Contribution    
Net Cash Flow Provided by Financing Activities    
Net change in cash     $ (1,338)
Cash, Beginning of Period     $ 2,285 6,675
Cash, End of Period $ 2,285 $ 5,337 $ 2,285 $ 5,337


v3.3.0.814
Organization and Basis of Presentation
6 Months Ended
Jul. 31, 2015
Accounting Policies [Abstract]  
Organization and Basis of Presentation

Note 1: Organization and Basis of Presentation

 

Adamas Ventures, Inc. (the “Company”) is a for profit corporation established under the corporation laws in the State of Nevada, United States of America on January 31, 2014.

 

The Company is in the development phase and intends to sell baby products. As such, the Company is subject to all risks inherent to the establishment of a start-up business enterprise.

 

The Financial Statements and related disclosures as of October 31, 2014 are audited pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The October 31, 2014, Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In our opinion, these financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair statement of the results for the period. These financial statements should be read in conjunction with the financial statements for the nine months ended October 31, 2014. Unless the context otherwise requires, all references to “Adamas Ventures,” “we,” “us,” “our” or the “company” are to Adamas Ventures, Inc. and any subsidiaries.



v3.3.0.814
Recent Accounting Pronouncements
6 Months Ended
Jul. 31, 2015
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements

Note 2: Recent Accounting Pronouncements

 

In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, (“ASU 2011-11”). ASU 2011-11 requires an entity to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. ASU 2011- 11 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Retrospective disclosure is required for all comparative periods presented. The adoption of ASU 2011-11 did not have a material impact on the Company’s financial statements. In October 2012, the FASB issued ASU No. 2012-04, Technical Corrections and Improvements, (“ASU 2012-04”). This update includes source literature amendments, guidance clarification, reference corrections and relocated guidance affecting a variety of topics in the Codification. The update also includes conforming amendments to the Codification to reflect ASC 820’s fair value measurement and disclosure requirements. The amendments in this update that will not have transition guidance are effective upon issuance. The amendments in this update that are subject to the transition guidance will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 did not have a material impact on the Company’s financial statements.

 

In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (“ASU 2013-01”). This update clarifies that ordinary trade receivables and receivables are not in the scope of ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). Specifically, ASU 2011-11 applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in the FASB Accounting Standards Codification or subject to a master netting arrangement or similar agreement. The Company is required to apply the amendments in ASU 2013-01 beginning January 1, 2013. The adoption of ASU 2013-01 by the Company did not have a material impact on the consolidated financial statements.

 

In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update, or ASU, 2013-02, Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This update requires companies to provide information regarding the amounts reclassified out of accumulated other comprehensive income by component. In addition, companies are required to present, either on the face of the statement where net income is presented or in the accompanying notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. ASU 2013-02 was adopted January 1, 2013 and did not have a significant impact on our financial statements.



v3.3.0.814
Concentrations
6 Months Ended
Jul. 31, 2015
Accounting Policies [Abstract]  
Concentrations

Note 3: Concentrations

 

The company has not had any sales.



v3.3.0.814
Legal Matters
6 Months Ended
Jul. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Legal Matters

Note 4: Legal Matters

 

The Company has no known legal issues pending.



v3.3.0.814
Debt
6 Months Ended
Jul. 31, 2015
Debt Disclosure [Abstract]  
Debt

 

Note 5: Debt

 

The Company has no debt.



v3.3.0.814
Capital Stock
6 Months Ended
Jul. 31, 2015
Equity [Abstract]  
Capital Stock

Note 6: Capital Stock

 

On January 31, 2014 the Company authorized 75,000,000 shares of commons stock with a par value of $0.0001 per share.

 

On January 31, 2014 the Company issued 20,000,000 shares of common stock for a purchase price of $0.0001 per share to its founding shareholder. The Company received aggregate gross proceeds of $10,000.00.

 

As of July 31, 2015 there were no outstanding stock options or warrants.



v3.3.0.814
Income Taxes
6 Months Ended
Jul. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes

Note 7: Income Taxes

 

The Company uses the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.

 

ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.



v3.3.0.814
Related Party Transactions
6 Months Ended
Jul. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions

Note 8: Related Party Transactions

 

The Company neither owns nor leases any real or personal property. The sole officer of the Company provides office space and services free of charge. The Company's sole officer and director is involved in other business activities and may in the future, become involved in other business opportunities as they become available.



v3.3.0.814
Subsequent Events
6 Months Ended
Jul. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events

Note 9: Subsequent Events

 

The Company has evaluated events subsequent through the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that no subsequent events occurred that require recognition or disclosure in the financial statements.



v3.3.0.814
Going Concern
6 Months Ended
Jul. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

Note 10: Going Concern

 

The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern.

 

For the period ended July 31, 2015, the Company had an accumulated deficit of $8,965 and working capital of $2, 285, which may not be sufficient to sustain operations over the next 12 months. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock.

 

Management plans to fund operations of the Company through the proceeds from an offering pursuant to a Registration Statement on Form S-1 or private placements of restricted securities or the issuance of stock in lieu of cash for payment of services until such a time as profitable operations are achieved. There are no written agreements in place for such funding or issuance of securities and there can be no assurance that such will be available in the future. Management believes that this plan provides an opportunity for the Company to continue as a going concern.

 

The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.



v3.3.0.814
Capital Stock (Details Narrative) - USD ($)
Jul. 31, 2015
Jan. 31, 2015
Jan. 31, 2014
Equity [Abstract]      
[us-gaap:CommonStockSharesAuthorized] 75,000,000 75,000,000 75,000,000
[us-gaap:CommonStockParOrStatedValuePerShare] $ 0.0001 $ 0.0001 $ 0.0001
[us-gaap:CommonStockSharesIssued]     20,000,000
[us-gaap:CommonStockSharesSubscriptions]     $ 10,000


v3.3.0.814
Going Concern (Details Narrative)
18 Months Ended
Jul. 31, 2015
USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
[us-gaap:ProfitLoss] $ 8,965

1 Year Adamas Ventures (GM) Chart

1 Year Adamas Ventures (GM) Chart

1 Month Adamas Ventures (GM) Chart

1 Month Adamas Ventures (GM) Chart