UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended: April 30, 2018
[ ] | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from _______to_______
Commission File Number 000-54800
VGRAB COMMUNICATIONS INC.
(Exact name of registrant as specified in its charter)
British Columbia, Canada (State or other jurisdiction of incorporation or organization) | 99-0364150 (I.R.S. Employer Identification No.) |
820-1130 West Pender Street, Vancouver, BC V6E 4A4
(Address of principal executive offices) (Zip Code)
(604) 648-0510
(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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [X] Yes [ ] No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer | [ ] | Accelerated filer | [ ] |
Non-accelerated filer | [ ] | Smaller reporting company | [X] |
(Do not check if a smaller reporting company) | Emerging growth company | [ ] | |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the 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. As of June 14, 2018, the number of shares of the registrant's common stock outstanding was 35,013,838.
TABLE OF CONTENTS
PART I - FINANCIAL INFORMATION | F-1 |
ITEM 1. FINANCIAL STATEMENTS. | F-1 |
CONSOLIDATED BALANCE SHEETS | F-1 |
CONSOLIDATED STATEMENTS OF OPERATIONS | F-2 |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT | F-3 |
NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS | F-5 |
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. | 1 |
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. | 6 |
ITEM 4. CONTROLS AND PROCEDURES. | 7 |
PART II - OTHER INFORMATION | 8 |
ITEM 1. LEGAL PROCEEDINGS. | 8 |
ITEM 1A. RISK FACTORS. | 8 |
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. | 8 |
ITEM 3. DEFAULTS UPON SENIOR SECURITIES. | 8 |
ITEM 4. MINE SAFETY DISCLOSURES. | 8 |
ITEM 5. OTHER INFORMATION. | 8 |
ITEM 6. EXHIBITS. | 8 |
SIGNATURES | 10 |
ii
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
VGRAB COMMUNICATIONS INC.
CONSOLIDATED BALANCE SHEETS
(EXPRESSED IN US DOLLARS)
| April 30, 2018 |
| October 31, 2017 | ||
| (Unaudited) |
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ASSETS |
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Current assets |
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Cash | $ | 10,288 |
| $ | 15,887 |
GST recoverable |
| 1,140 |
|
| 798 |
Prepaids |
| 8,126 |
|
| 3,303 |
Total assets | $ | 19,554 |
| $ | 19,988 |
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LIABILITIES AND STOCKHOLDERS' DEFICIT |
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Current liabilities |
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Accounts payable | $ | 460,618 |
| $ | 265,251 |
Accrued liabilities |
| 4,674 |
|
| 10,239 |
Due to related parties |
| 72,405 |
|
| 37,484 |
Loan payable |
| 100,000 |
|
| 100,000 |
Total liabilities |
| 637,697 |
|
| 412,974 |
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Stockholders' deficit |
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Common stock, no par value, unlimited number authorized, 35,013,838 issued and outstanding at Aptil 30, 2018 and October 31, 2017 |
| 5,298,377 |
|
| 5,298,377 |
Additional paid-in capital |
| 123,093 |
|
| 123,093 |
Accumulated other comprehensive income |
| 39,329 |
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| |
51,283