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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Joey New York Inc (CE) | USOTC:JOEY | 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% | 0.0003 | 0.00 | 01:00:00 |
Nevada
|
|
68-0682410
|
(State or other jurisdiction of
incorporation or organization)
|
|
(IRS Employer
Identification No.)
|
☐
|
Large accelerated filer
|
|
☐
|
Accelerated filer
|
|
☐
|
Non-accelerated filer
|
|
☒
|
Smaller reporting company
|
Page
|
|
Financial Statements (Unaudited):
|
|
Consolidated Balance Sheets
|
4 |
Consolidated Statements of Operations
|
5 |
Consolidated Statements of Cash Flows
|
6 |
Notes to Audited Consolidated Financial Statements
|
7 |
August 31, 2016
|
February 29, 2016
|
|||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
18,929
|
$
|
7,903
|
||||
Accounts receivable, net
|
275
|
132
|
||||||
Inventory
|
75,690
|
43,326
|
||||||
Total current assets
|
94,894
|
51,361
|
||||||
Goodwill
|
75,588
|
-
|
||||||
Property and equipment, net
|
21,178
|
3,457
|
||||||
Total assets
|
$
|
191,660
|
$
|
54,818
|
||||
Liabilities and stockholders' deficit
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
$
|
321,953
|
$
|
156,975
|
||||
Accrued liabilities
|
508,142
|
424,135
|
||||||
Shareholder advances – related party
|
628,570
|
612,737
|
||||||
Notes payable – related party
|
3,000,000
|
3,000,000
|
||||||
Total current liabilities
|
4,458,665
|
4,193,847
|
||||||
Total liabilities
|
4,458,665
|
4,193,847
|
||||||
Commitments and Contingencies
|
||||||||
Stockholder's deficit
|
||||||||
Preferred stock, 100,000,000 shares authorized; no shares issued or outstanding
|
-
|
-
|
||||||
Common stock, $0.001 par value; 500,000,000 shares
authorized; 27,862,019 and 351,926 shares issued and
outstanding
|
27,862
|
352
|
||||||
Additional paid in capital
|
(2,625,711
|
)
|
(2,740,864
|
)
|
||||
Stock subscription receivable
|
(1,000
|
)
|
-
|
|||||
Accumulated deficit
|
(1,668,156
|
)
|
(1,398,517
|
)
|
||||
Total stockholder's deficit
|
(4,267,005
|
)
|
(4,139,029
|
)
|
||||
Total liabilities and stockholder's
deficit
|
$
|
191,660
|
$
|
54,818
|
Three Months Ended
August 31,
|
Six Months Ended
August 31,
|
|||||||||||||||
2016
|
2015
(Restated)
|
2016
|
2015
(Restated)
|
|||||||||||||
Revenues
|
$
|
45,570
|
$
|
17,306
|
$
|
45,713
|
$
|
54,291
|
||||||||
Cost of sales
|
1,931
|
19,377
|
1,973
|
42,662
|
||||||||||||
Gross margin
|
43,639
|
(2,071
|
)
|
43,740
|
11,629
|
|||||||||||
Operating expenses
|
178,578
|
18,165
|
223,059
|
86,217
|
||||||||||||
Loss from operations
|
(134,938
|
)
|
(20,236
|
)
|
(179,320
|
)
|
(74,587
|
)
|
||||||||
Other (expense)
|
||||||||||||||||
Interest expense
|
(46,206
|
)
|
(44,227
|
)
|
(90,319
|
)
|
(88,841
|
)
|
||||||||
Loss before income taxes
|
(181,144
|
)
|
(64,463
|
)
|
(269,639
|
)
|
(163,428
|
)
|
||||||||
Provision (benefit) for income taxes
|
-
|
-
|
-
|
-
|
||||||||||||
Net loss
|
$
|
(181,144
|
)
|
$
|
(64,463
|
)
|
$
|
(269,639
|
)
|
$
|
(163,428
|
)
|
||||
Basic and diluted loss per share
|
$
|
(0.03
|
)
|
$
|
(0.18
|
)
|
$
|
(0.07
|
)
|
$
|
(0.47
|
)
|
||||
Weighted average shares outstanding
|
6,997,796
|
350,471
|
3,678,556
|
349,948
|
2016
|
2015
(Restated)
|
|||||||
Cash flows from operating activities
|
||||||||
Net loss
|
$
|
(269,639
|
)
|
$
|
(163,428
|
)
|
||
Adjustments to reconcile net income to net cash provided
|
||||||||
by operating activities:
|
||||||||
Depreciation and amortization
|
674
|
327
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable
|
(143
|
)
|
(22,276
|
)
|
||||
Inventory
|
(32,364
|
)
|
9,856
|
|||||
Accounts payable
|
164,978
|
92,390
|
||||||
Accrued expenses
|
158,007
|
-
|
||||||
Net cash provided by (used in) operating activities
|
21,513
|
(83,130
|
)
|
|||||
Cash flows from investing activities
|
||||||||
Purchases of property and equipment
|
(18,395
|
)
|
(1,219
|
)
|
||||
Net cash used in investing activities
|
(18,395
|
)
|
(1,219
|
)
|
||||
Cash flows from financing activities
|
||||||||
Proceeds from the sale of common stock
|
-
|
50,005
|
||||||
Proceeds from related party advances
|
7,908
|
30,681
|
||||||
Net cash from financing activities
|
7,908
|
80,686
|
||||||
Net change in cash and cash equivalents
|
11,026
|
(3,663
|
)
|
|||||
Cash and cash equivalents, beginning of period
|
7,903
|
5,063
|
||||||
Cash and cash equivalents, end of period
|
$
|
18,929
|
$
|
1,400
|
||||
Supplemental disclosure of cash flow information
|
||||||||
Interest paid
|
$
|
-
|
$
|
-
|
||||
Income taxes paid
|
$
|
-
|
$
|
-
|
||||
Non-cash investing activities
|
||||||||
Common shares issued for acquisition of subsidiary
|
$
|
75,588
|
$
|
-
|
||||
Non-cash financing activities
|
||||||||
Accrued expenses waived for common shares
|
$
|
74,000
|
August 31, 2016
|
February 29, 2016
|
|||||||
Property and equipment
|
$
|
29,250
|
$
|
10,459
|
||||
Less accumulated depreciation
|
8,072
|
7,002
|
||||||
Property and equipment, net
|
$
|
21,178
|
$
|
3,457
|
Description
|
Amount
|
|||
Cash
|
$
|
8,995
|
||
Other current assets
|
4,460
|
|||
Property and equipment, net
|
15,893
|
|||
Accounts payable and accrued expenses
|
(104,936
|
)
|
||
Net assets acquired (liabilities assumed)
|
(75,588
|
)
|
||
Value of shares issued
|
-
|
|||
Goodwill recorded on acquisition
|
$
|
(75,588
|
)
|
Number
|
Description
|
|
|
31.1
|
Certification of Principal Executive Officer, pursuant to SEC Rules 13a-14(a) and 15d-14(a), adopted pursuant Section 302 of the Sarbanes Oxley Act of 2002
|
|
|
31.2
|
Certification of Principal Financial Officer, pursuant to SEC Rules 13a-14(a) and 15d-14(a), adopted pursuant Section 302 of the Sarbanes Oxley Act of 2002
|
|
|
32.1
|
Certification of Chief 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
|
|
|
32.2
|
Certification of Chief 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
|
|
|
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
|
|
Joey New York, Inc.
|
|
|
|
|
|
|
Date: October 24, 2016
|
By:
|
/s/ Joey Chancis
|
|
|
|
Joey Chancis, CEO
|
|
|
|
Principal Executive Officer
|
|
|
|
|
|
Date: October 24, 2016
|
By:
|
/s/ Richard Roer
|
|
|
|
Richard Roer, President
|
|
|
|
Principal Financial Officer
|
|
1 Year Joey New York (CE) Chart |
1 Month Joey New York (CE) Chart |
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