10-K Filing

BLUSKY AI INC. CIK: 1416090 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001493152-14-003691`
Period End Date	20140731
Filing Date	20141113
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	imii-20140731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 30 Cash Flow Statement 59 Stockholders Equity 29

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$124.10K	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.93K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$34.83K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$135.09K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$65.96K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$140.78K	USD	Point-in-time
Land and mineral rights	`MineralRights`	$950.16K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Land and mineral rights	`MineralRights`	$950.16K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Assets	`Assets`	$1.02M	USD	Point-in-time
Total Assets	`Assets`	$1.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.22M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.22M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$76.72K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.50K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$9.21K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$26.18K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$18.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$110.00K	USD	Point-in-time
Convertible notes payable, net of debt discount of 124,103 and $0 as of July 31, 2014 and 2013, respectively	`ConvertibleNotesPayableCurrent`	$558.40K	USD	Point-in-time
Convertible notes payable, net of debt discount of 124,103 and $0 as of July 31, 2014 and 2013, respectively	`ConvertibleNotesPayableCurrent`	$680.00K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$112.85K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.05M	USD	Point-in-time
Commitments and Contingencies (See Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (See Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 10,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 10,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 shares authorized, 21,770,681 and 20,216,739 shares issued and outstanding as of July 31, 2014 and 2013, respectively	`CommonStockValue`	$202.00	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 shares authorized, 21,770,681 and 20,216,739 shares issued and outstanding as of July 31, 2014 and 2013, respectively	`CommonStockValue`	$218.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.97M	USD	Point-in-time
Common stock subscribed	`CommonStockSharesSubscriptions`	$44.84K	USD	Point-in-time
Common stock subscribed	`CommonStockSharesSubscriptions`	$101.03K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.08M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-159.33K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-38.65K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.09M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.02M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	-	USD	Annual
Exploration costs	`ExplorationCosts`	$34.49K	USD	Annual
Exploration costs	`ExplorationCosts`	$6.64K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$253.84K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$701.17K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$735.66K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$260.48K	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-260.48K	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-735.66K	USD	Annual
Interest income	`InterestIncomeOther`	-	USD	Annual
Interest income	`InterestIncomeOther`	-	USD	Annual
Change in derivative liability	`ChangeInDerivativeLiability`	-	USD	Annual
Change in derivative liability	`ChangeInDerivativeLiability`	$12.02K	USD	Annual
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	$-147.78K	USD	Annual
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	$1.06K	USD	Annual
Interest expense	`InterestExpenseOther`	$783.23K	USD	Annual
Interest expense	`InterestExpenseOther`	$11.19K	USD	Annual
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-918.99K	USD	Annual
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-10.12K	USD	Annual
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.65M	USD	Annual
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-270.61K	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`NetIncomeLoss`	$-1.65M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-270.61K	USD	Annual
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	Annual
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.10M	shares	Annual
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.90M	shares	Annual

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.65M	USD	Annual
Net Loss	`NetIncomeLoss`	$-270.61K	USD	Annual
Depreciation expense	`Depreciation`	$207.00	USD	Annual
Depreciation expense	`Depreciation`	-	USD	Annual
Stock issued for services	`StockIssuedForServices`	$82.95K	USD	Annual
Stock issued for services	`StockIssuedForServices`	$365.09K	USD	Annual
In-kind contribution of services	`InkindContributionOfServices`	-	USD	Annual
In-kind contribution of services	`InkindContributionOfServices`	$67.50K	USD	Annual
In-kind contribution of interest	`PaidInKindInterest`	-	USD	Annual
In-kind contribution of interest	`PaidInKindInterest`	$4.42K	USD	Annual
Change in derivative liability	`ChangeInDerivativeLiability`	-	USD	Annual
Change in derivative liability	`ChangeInDerivativeLiability`	$12.02K	USD	Annual
Amortization of BCF debt discount	`AmortizationOfDebtDiscountPremium`	$688.40K	USD	Annual
Amortization of BCF debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	$-147.78K	USD	Annual
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	-	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$100.26K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$34.83K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$81.78K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$66.31K	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-67.50K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$9.21K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$16.96K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-142.33K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-342.05K	USD	Annual
Repayment of notes payable	`ProceedsFromRepaymentsOfNotesPayable`	$-160.00K	USD	Annual
Repayment of notes payable	`ProceedsFromRepaymentsOfNotesPayable`	$-142.00K	USD	Annual
Expenses paid by shareholder on Company's behalf	`ExpensesPaidByShareholderOnBehalfOfCompanyAsInKindContribution`	$-18.58K	USD	Annual
Expenses paid by shareholder on Company's behalf	`ExpensesPaidByShareholderOnBehalfOfCompanyAsInKindContribution`	-	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$182.50K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from notes payable-related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$107.61K	USD	Annual
Proceeds from notes payable-related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$210.93K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$168.50K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$101.03K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$316.62K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$170.53K	USD	Annual
Net Increase / (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-25.43K	USD	Annual
Net Increase / (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.20K	USD	Annual
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.93K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.93K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Notes payable assumed and stock issued for land and mineral rights	`DebtConversionConvertedInstrumentAmount1`	$25.00K	USD	Point-in-time
Notes payable assumed and stock issued for land and mineral rights	`DebtConversionConvertedInstrumentAmount1`	$950.16K	USD	Annual
Notes payable assumed and stock issued for land and mineral rights	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Forgiveness of debt by stockholder	`ForgivenessOfDebtByStockholder`	-	USD	Annual
Forgiveness of debt by stockholder	`ForgivenessOfDebtByStockholder`	$120.71K	USD	Annual
Fixed asset distributed to stockholder	`FixedAssetGivenToStockholderAsCompensation`	$2.10K	USD	Annual
Fixed asset distributed to stockholder	`FixedAssetGivenToStockholderAsCompensation`	-	USD	Annual
Conversion of debt in common stock	`ConversionOfStockAmountConverted1`	$130.00K	USD	Annual
Conversion of debt in common stock	`ConversionOfStockAmountConverted1`	$25.00K	USD	Annual

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-159.33K	USD	Point-in-time
Balance	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Balance	`StockholdersEquity`	$-38.65K	USD	Point-in-time
Forgiveness of debts by principal stockholder	`DebtInstrumentDecreaseForgiveness`	$159.15K	USD	Annual
Expenses paid by stockholder on Company's behalf	`ExpensesPaidByRelatedPartyOnBehalfOfCompanyAmount`	$18.58K	USD	Annual
In kind contribution of interest	`PaidInKindInterest`	-	USD	Annual
In kind contribution of interest	`PaidInKindInterest`	$4.42K	USD	Annual
Shares issued for conversion of debt	`ConversionOfStockAmountConverted1`	$130.00K	USD	Annual
Shares issued for conversion of debt	`ConversionOfStockAmountConverted1`	$25.00K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$301.00K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$82.95K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$46.00K	USD	Point-in-time
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	40,000.00	shares	Point-in-time
Shares issued in exchange for mining claim	`StockIssuedDuringPeriodValueIssuedForMiningRights`	$160.00	USD	Annual
Shares issued for settlement of accounts payable	`SharesIssuedForSettlementOfAccountsPayable`	$249.53K	USD	Annual
Shares issued for cash, value	`StockIssuedDuringPeriodValueIssuedForCash`	$20.00K	USD	Point-in-time
Shares issued for cash, value	`StockIssuedDuringPeriodValueIssuedForCash`	$168.50K	USD	Annual
Shares issued for cash, value	`StockIssuedDuringPeriodValueIssuedForCash`	$32.00K	USD	Point-in-time
Shares issued for cash, value	`StockIssuedDuringPeriodValueIssuedForCash`	$101.03K	USD	Annual
Shares issued for cash, value	`StockIssuedDuringPeriodValueIssuedForCash`	$116.50K	USD	Point-in-time
Shares issued for cash, shares	`StockIssuedDuringPeriodSharesIssuedForCash`	44,444.00	shares	Point-in-time
Shares issued for cash, shares	`StockIssuedDuringPeriodSharesIssuedForCash`	71,111.00	shares	Point-in-time
Shares issued for cash, shares	`StockIssuedDuringPeriodSharesIssuedForCash`	258,887.00	shares	Point-in-time
Debt discount on convertible notes due to beneficial conversion feature	`DebtDiscountOnConvertibleNotesDueToBeneficialConversionFeature`	$730.00K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-1.65M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-270.61K	USD	Annual
Balance	`StockholdersEquity`	$-159.33K	USD	Point-in-time
Balance	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Balance	`StockholdersEquity`	$-38.65K	USD	Point-in-time

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