10-Q Filing

BLUSKY AI INC. CIK: 1416090 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001493152-14-004260`
Period End Date	20141031
Filing Date	20141222
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	imii-20141031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 29 Cash Flow Statement 55 Stockholders Equity 18

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$139.17K	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$124.10K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$544.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.73K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	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
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$448.72K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$449.26K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	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
Total Assets	`Assets`	$1.09M	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`	$1.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.77M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.79M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.79M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.50K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$262.62K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$26.18K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$32.26K	USD	Point-in-time
Advances, related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Advances, related party	`DueToRelatedPartiesCurrent`	$286.45K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$18.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$13.00K	USD	Point-in-time
Convertible notes payable, net of debt discount of $139,172 and $124,103 as of October 31, 2014 and July 31, 2014, respectively	`ConvertibleNotesPayableCurrent`	$603.33K	USD	Point-in-time
Convertible notes payable, net of debt discount of $139,172 and $124,103 as of October 31, 2014 and July 31, 2014, respectively	`ConvertibleNotesPayableCurrent`	$558.40K	USD	Point-in-time
Convertible note payable, related party, net of debt discount	`ConvertibleNotePayableRelatedPartyNetOfDebtDiscount`	$30.03K	USD	Point-in-time
Convertible note payable, related party, net of debt discount	`ConvertibleNotePayableRelatedPartyNetOfDebtDiscount`	-	USD	Point-in-time
Warrant liability	`WarrantLiabilities`	$66.33K	USD	Point-in-time
Warrant liability	`WarrantLiabilities`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$608.81K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$112.85K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.62M	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, 22,793,949 and 21,770,681 shares issued and outstanding as of October 31, 2014 and July 31, 2014, respectively	`CommonStockValue`	$218.00	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 shares authorized, 22,793,949 and 21,770,681 shares issued and outstanding as of October 31, 2014 and July 31, 2014, respectively	`CommonStockValue`	$228.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.19M	USD	Point-in-time
Stockholder subscriptions	`StockholderSubscriptions`	$77.50K	USD	Point-in-time
Stockholder subscriptions	`StockholderSubscriptions`	$44.84K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.08M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-216.96K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$1.40M	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$1.09M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Exploration costs	`ExplorationCosts`	$138.78K	USD	1 Quarter
Exploration costs	`ExplorationCosts`	$8.02K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$919.72K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$64.77K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.06M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$72.79K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-72.79K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.06M	USD	1 Quarter
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$148.07K	USD	1 Quarter
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	-	USD	1 Quarter
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	$-147.78K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$490.36K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$9.52K	USD	1 Quarter
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-342.29K	USD	1 Quarter
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-157.30K	USD	1 Quarter
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-230.09K	USD	1 Quarter
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.40M	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-230.09K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$7.48M	USD	29 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.40M	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.60M	shares	1 Quarter
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.43M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-230.09K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$7.48M	USD	29 Qtrs
Net Loss	`NetIncomeLoss`	$-1.40M	USD	1 Quarter
Stock issued for services	`StockIssuedForServices`	$95.00K	USD	1 Quarter
Stock issued for services	`StockIssuedForServices`	$32.65K	USD	1 Quarter
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	1 Quarter
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$-109.40K	USD	1 Quarter
Change in warrant liability	`IncreaseDecreaseInWarrantLiabilities`	-	USD	1 Quarter
Change in warrant liability	`IncreaseDecreaseInWarrantLiabilities`	$-14.95K	USD	1 Quarter
Change in BCF debt discount	`IncreaseDecreasInDebtDiscount`	$228.76K	USD	1 Quarter
Change in BCF debt discount	`IncreaseDecreasInDebtDiscount`	-	USD	1 Quarter
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	-	USD	1 Quarter
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	$147.78K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-6.37K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-762.04K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-64.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$104.12K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$9.52K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$6.08K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-172.69K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-35.42K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Repayment of note payable	`ProceedsFromRepaymentsOfNotesPayable`	$-100.00K	USD	1 Quarter
Repayment of note payable	`ProceedsFromRepaymentsOfNotesPayable`	$-5.00K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$100.00K	USD	1 Quarter
Proceeds from advances-related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$73.03K	USD	1 Quarter
Proceeds from advances-related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from notes payable, related party	`ProceedsFromRelatedPartyDebt`	$72.54K	USD	1 Quarter
Proceeds from notes payable, related party	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$62.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$35.03K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$167.54K	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.15K	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-396.00	USD	1 Quarter
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$544.00	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$30.73K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$544.00	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$30.73K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$13.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Common stock issued for payment of accounts payable	`CommonStockIssuedForPaymentOfAccountsPayable`	-	USD	1 Quarter
Common stock issued for payment of accounts payable	`CommonStockIssuedForPaymentOfAccountsPayable`	$95.00K	USD	1 Quarter
Common stock issued for prepaid expenses	`CommonStockIssuedForPrepaidExpenses`	$1.08M	USD	1 Quarter
Common stock issued for prepaid expenses	`CommonStockIssuedForPrepaidExpenses`	-	USD	1 Quarter
Conversion of note payable into common stock	`ConversionOfNotePayableIntoCommonStock`	$55.00K	USD	1 Quarter
Conversion of note payable into common stock	`ConversionOfNotePayableIntoCommonStock`	-	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$-216.96K	USD	Point-in-time
Balance	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.08M	USD	1 Quarter
Shares issued for conversion of debt	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$130.00K	USD	Point-in-time
Shares issued for conversion of debt	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$55.00K	USD	1 Quarter
Shares issued for conversion of debt, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	288,889.00	shares	Point-in-time
Shares surrendered and cancelled	`StockRepurchasedDuringPeriodValue`	-	USD	1 Quarter
Shares to be issued for services rendered	`SharesToBeIssuedForServicesRendered`	$32.65K	USD	1 Quarter
Debt discount on convertible notes due to beneficial conversion feature	`DebtDiscountOnConvertibleNotesDueToBeneficialConversionFeature`	$89.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-230.09K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$7.48M	USD	29 Qtrs
Net loss	`NetIncomeLoss`	$-1.40M	USD	1 Quarter
Balance	`StockholdersEquity`	$-216.96K	USD	Point-in-time
Balance	`StockholdersEquity`	$-69.43K	USD	Point-in-time

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