[X]
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QUARTERLY
REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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FOR
THE QUARTERLY PERIOD ENDED March 31, 2009
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OR
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[ ]
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TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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Celestial Delights USA
Corp.
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||||||||
(A
Development Stage Company)
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Balance
Sheets
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||||||||
March
31,
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June
30,
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|||||||
2009
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2008
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|||||||
(Unaudited)
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||||||||
ASSETS
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||||||||
Current
Assets
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||||||||
Cash
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$ | 1,397 | $ | 32,553 | ||||
Prepaid
expenses
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150 | 150 | ||||||
Deferred
license fee - current portion
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4,000 | - | ||||||
Total
Current Assets
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5,547 | 32,703 | ||||||
Deferred
license fee - noncurrent portion
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1,000 | - | ||||||
Total
Assets
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$ | 6,547 | $ | 32,703 | ||||
LIABILITIES
AND STOCKHOLDERS' EQUITY (DEFICIENCY)
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||||||||
Current
Liabilities
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||||||||
Accounts
payable and accrued liabilities
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$ | 5,195 | $ | - | ||||
Due
to related party
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4,223 | 399 | ||||||
Total
current liabilities
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9,418 | 399 | ||||||
Stockholders'
Equity (Deficiency)
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||||||||
Preferred
stock, $0.00001 par value;
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||||||||
authorized
100,000,000 shares, none issued
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- | - | ||||||
Common
stock, $0.00001 par value;
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||||||||
authorized
100,000,000 shares,
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||||||||
issued
and outstanding 11,140,000 shares
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111 | 111 | ||||||
Additional
paid-in capital
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50,289 | 48,489 | ||||||
Deficit
accumulated during the development stage
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(53,271 | ) | (16,296 | ) | ||||
Total
Stockholders' Equity (Deficiency)
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(2,871 | ) | 32,304 | |||||
Total
Liabilities and Stockholders' Equity (Deficiency)
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$ | 6,547 | $ | 32,703 | ||||
See
notes to financial statements.
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Celestial
Delights USA Corp.
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||||||||||||
(A
Development Stage Company)
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||||||||||||
Statements
of Operations
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||||||||||||
(Unaudited)
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||||||||||||
Three
months ended
March
31, 2009
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Nine
months ended
March
31, 2009
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Period
June 2, 2008 (Inception) to March 31, 2009
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||||||||||
Revenue
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$ | - | $ | - | $ | - | ||||||
Total
Revenue
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- | - | - | |||||||||
Cost
and expenses
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||||||||||||
License
fees
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1,000 | 3,000 | 3,000 | |||||||||
General
and administrative
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6,988 | 33,975 | 50,271 | |||||||||
Total
Costs and Expenses
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7,988 | 36,975 | 53,271 | |||||||||
Net
Loss
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$ | (7,988 | ) | $ | (36,975 | ) | $ | (53,271 | ) | |||
Net
Loss per share
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Basic
and diluted
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$ | (0.00 | ) | $ | (0.00 | ) | ||||||
Number
of common shares used to compute net loss per share
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||||||||||||
Basic
and Diluted
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11,140,000 | 11,140,000 | ||||||||||
See
notes to financial statements.
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Celestial
Delights USA Corp.
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(A Development Stage
Company)
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Statements of Stockholders'
Equity (Deficiency)
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For
the period June 2, 2008 (Inception) to March 31, 2009
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(Unaudited)
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Common
Stock, $0.00001 Par Value
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Additional
Paid-in
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Deficit
Accumulated During the Development
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Total
Stockholders'
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||||||||||||||||||||
Shares
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Amount
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Capital
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Stage
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Equity
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Sales
of Common stock;
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- |
June
2, 2008 at $0.001
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7,000,000 | $ | 70 | $ | 6,930 | $ | - | $ | 7,000 | |||||||||||||
- |
June
30, 2008 at $0.01
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4,140,000 | 41 | 41,359 | - | 41,400 | |||||||||||||||||
Donated
expenses
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- | - | 200 | - | 200 | ||||||||||||||||||
Net
loss for the period June 2, 2008 (inception)
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|||||||||||||||||||||||
to
June 30, 2008
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- | - | - | (16,296 | ) | (16,296 | ) | ||||||||||||||||
Balance,
June 30, 2008
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11,140,000 | $ | 111 | $ | 48,489 | $ | (16,296 | ) | $ | 32,304 | |||||||||||||
Donated
expenses
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- | - | 600 | - | 600 | ||||||||||||||||||
Net
loss for the three months ended September 30, 2008
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- | - | - | (22,725 | ) | (22,725 | ) | ||||||||||||||||
Balance,
September 30, 2008
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11,140,000 | $ | 111 | $ | 49,089 | $ | (39,021 | ) | $ | 10,179 | |||||||||||||
Donated
expenses
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- | - | 600 | - | 600 | ||||||||||||||||||
Net
loss for the three months ended December 31, 2008
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- | - | - | (6,262 | ) | (6,262 | ) | ||||||||||||||||
Balance,
December 31, 2008
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11,140,000 | $ | 111 | $ | 49,689 | $ | (45,283 | ) | $ | 4,517 | |||||||||||||
Donated
expenses
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- | - | 600 | - | 600 | ||||||||||||||||||
Net
loss for the three months ended March 31, 2009
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- | - | - | (7,988 | ) | (7,988 | ) | ||||||||||||||||
Balance,
March 31, 2009
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11,140,000 | $ | 111 | $ | 50,289 | $ | (53,271 | ) | $ | (2,871 | ) | ||||||||||||
See
notes to financial statements.
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Celestial
Delights USA Corp.
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(A
Development Stage Company)
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Statements
of Cash Flows
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(Unaudited)
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Nine
months ended
March
31, 2009
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Period
June 2, 2008 (Inception) to March 31, 2009
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Cash
Flows from Operating Activities
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Net
loss
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$ | (36,975 | ) | $ | (53,271 | ) | ||
Adjustments
to reconcile net loss to net cash
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||||||||
provided
by (used for) operating activities:
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Amortization
of deferred license fee
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3,000 | 3,000 | ||||||
Donated
expenses
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1,800 | 2,000 | ||||||
Changes
in operating assets and liabilities:
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||||||||
Accounts
payable and accrued liabilities
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5,195 | 5,195 | ||||||
Prepaid
expenses
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- | (150 | ) | |||||
Net
cash used for operating activities
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(26,980 | ) | (43,226 | ) | ||||
Cash
Flows from Investing Activities
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License
fee due in connection with Product License Agreement
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(8,000 | ) | (8,000 | ) | ||||
Net
cash used for investing activities
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(8,000 | ) | (8,000 | ) | ||||
Cash
Flows from Financing Activities
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Proceeds
from sales of common stock
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- | 48,400 | ||||||
Increase
in due to related party
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3,824 | 4,223 | ||||||
Net
cash provided by financing activities
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3,824 | 52,623 | ||||||
(Decrease)
Increase in cash
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(31,156 | ) | 1,397 | |||||
Cash,
beginning of period
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32,553 | - | ||||||
Cash,
end of period
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$ | 1,397 | $ | 1,397 | ||||
Supplemental
Disclosures of Cash Flow Information:
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Interest
paid
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$ | - | $ | - | ||||
Income
taxes paid
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$ | - | $ | - | ||||
See
notes to financial statements.
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Nine
months Ended
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Period
June 2, 2008 (Inception) to
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March
31, 2009
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March
31, 2009
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Expected
tax at 35%
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$ | (12,941 | ) | $ | (18,645 | ) | ||
Donated
expenses
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630 | 700 | ||||||
Increase
in valuation allowance
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12,311 | 17,945 | ||||||
Income
tax provision
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$ | - | $ | - |
March
31,
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June
30,
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|||||||
2009
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2008
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Net
operating loss carryforward
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$ | 17,945 | $ | 5,634 | ||||
Valuation
allowance
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(17,945 | ) | (5,634 | ) | ||||
Net
deferred tax assets
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$ | - | $ | - |
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1. To develop
and create a shopping cart on our website to promote and sell
our products online . We expect to spend $1,500 to $10,000 for
the new version website which will include a search engine and a word
search program with Google will be implemented to generate more traffic to
our site. We anticipate launching our new website in the second
quarter of this year.
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2.
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Marketing
and advertising will be focused on promoting our website and
products. The advertising campaign may also include the design
and printing of various sales material. We intend to market our
website through traditional sources such as advertising in magazines,
billboards, telephone directories and preparing and sending out flyers and
mailers both through the regular mail and via
email. Advertising and promotion will be an ongoing
effort but the initial cost of developing the campaign is estimated to
cost between $15,000 to $35,000.
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3.
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We
also plan to market our business and its online presence by attending some
key trade food trade shows in 2009.
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4.
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We
plan on targeting existing markets by aligning ourselves with food
distribution companies where our products can be
complimentary.
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ITEM
3.
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QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK.
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ITEM
4.
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CONTROLS
AND PROCEDURES.
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ITEM
1A.
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RISK
FACTORS
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ITEM
6.
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EXHIBITS.
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Exhibit
No.
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Document
Description
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31.1
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Certification
of Principal Executive Officer and Principal Financial Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
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32.1
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Certification
of Chief Executive Officer and Chief Financial Officer pursuant to section
906 of the Sarbanes-Oxley Act of
2002.
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CELESTIAL
DELIGHTS USA CORP.
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BY:
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NEEMA LAKHANI
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Neema
Lakhani, President, Principal Executive Officer, Treasurer, Secretary,
Principal Financial Officer, Principal Accounting Officer, and
sole member of the Board of
Directors.
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Exhibit
No.
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Document
Description
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31.1
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Certification
of Principal Executive Officer and Principal Financial Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
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32.1
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Certification
of Chief Executive Officer and Chief Financial Officer pursuant to section
906 of the Sarbanes-Oxley Act of
2002.
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