10-Q Filing

BLUSKY AI INC. CIK: 1416090 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001493152-15-002589`
Period End Date	20150430
Filing Date	20150622
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	imii-20150430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 56 Cash Flow Statement 63

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Convertible note payable related party debt discount net	`ConvertibleNotePayableRelatedPartyDebtDiscountNet`	-	USD	Point-in-time
Convertible note payable related party debt discount net	`ConvertibleNotePayableRelatedPartyDebtDiscountNet`	$151.22K	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$89.54K	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$124.10K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.26K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	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
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$135.09K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$657.96K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$140.78K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$657.96K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Land and mineral rights	`MineralRights`	$950.16K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Land and mineral rights	`MineralRights`	$950.16K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Assets	`Assets`	$1.09M	USD	Point-in-time
Total Assets	`Assets`	$1.61M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	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
Common stock, shares issued	`CommonStockSharesIssued`	20.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.77M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$364.15K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.50K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.77M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$60.45K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$26.18K	USD	Point-in-time
Advances, related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Advances, related party	`DueToRelatedPartiesCurrent`	$286.45K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$18.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	-	USD	Point-in-time
Convertible note payable - related party, net of debt discount of $151,222 and $0 as of April 30, 2015 and July 31, 2014, respectively	`ConvertibleNotePayableToRelatedPartyCurrent`	-	USD	Point-in-time
Convertible note payable - related party, net of debt discount of $151,222 and $0 as of April 30, 2015 and July 31, 2014, respectively	`ConvertibleNotePayableToRelatedPartyCurrent`	$465.04K	USD	Point-in-time
Convertible notes payable, net of debt discount of $89,540 and $124,103 as of April 30, 2015 and July 31, 2014, respectively	`ConvertibleNotesPayableCurrent`	$181.96K	USD	Point-in-time
Convertible notes payable, net of debt discount of $89,540 and $124,103 as of April 30, 2015 and July 31, 2014, respectively	`ConvertibleNotesPayableCurrent`	$558.40K	USD	Point-in-time
Derivative and warrant liability	`DerivativeAndWarrantLiabilityCurrent`	$479.51K	USD	Point-in-time
Derivative and warrant liability	`DerivativeAndWarrantLiabilityCurrent`	$112.85K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.16M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.55M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.55M	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, 20,764,008 and 21,770,681 shares issued and outstanding as of April 30, 2015 and July 31, 2014, respectively	`CommonStockValue`	$218.00	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 shares authorized, 20,764,008 and 21,770,681 shares issued and outstanding as of April 30, 2015 and July 31, 2014, respectively	`CommonStockValue`	$208.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.93M	USD	Point-in-time
Stockholder subscriptions	`StockholderSubscriptions`	-	USD	Point-in-time
Stockholder subscriptions	`StockholderSubscriptions`	$44.84K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.08M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$57.00K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$1.61M	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$1.09M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	3 Qtrs
Exploration costs	`ExplorationCosts`	$158.54K	USD	3 Qtrs
Exploration costs	`ExplorationCosts`	$14.64K	USD	1 Quarter
Exploration costs	`ExplorationCosts`	$-24.19K	USD	1 Quarter
Exploration costs	`ExplorationCosts`	$53.64K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$688.04K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$434.69K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$233.87K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.42M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$488.33K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$663.85K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.58M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$248.52K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-248.52K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-663.85K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-488.33K	USD	3 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-2.58M	USD	3 Qtrs
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$-12.27K	USD	1 Quarter
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$237.78K	USD	1 Quarter
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$575.62K	USD	3 Qtrs
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$-12.27K	USD	3 Qtrs
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	$161.75K	USD	3 Qtrs
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	-	USD	1 Quarter
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	-	USD	1 Quarter
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	$-147.78K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$943.22K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$718.83K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$191.73K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$350.96K	USD	1 Quarter
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-878.87K	USD	3 Qtrs
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-205.85K	USD	3 Qtrs
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-363.23K	USD	1 Quarter
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$46.05K	USD	1 Quarter
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.37M	USD	3 Qtrs
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-611.75K	USD	1 Quarter
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-617.80K	USD	1 Quarter
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.79M	USD	3 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-611.75K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.79M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.37M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-617.80K	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	3 Qtrs
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	3 Qtrs
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.56M	shares	1 Quarter
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.88M	shares	3 Qtrs
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.55M	shares	3 Qtrs
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.31M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-611.75K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-2.79M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-1.37M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-617.80K	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$136.75K	USD	3 Qtrs
Gain on derivative and warrant liability	`GainOnDerivativeAndWarrantLiability`	$-575.68K	USD	3 Qtrs
Gain on derivative and warrant liability	`GainOnDerivativeAndWarrantLiability`	$12.27K	USD	3 Qtrs
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	$147.78K	USD	3 Qtrs
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	-	USD	3 Qtrs
Gain on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	$148.75K	USD	Point-in-time
Gain on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	$-161.75K	USD	3 Qtrs
Gain on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	-	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$470.76K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$639.45K	USD	3 Qtrs
Initial value of derivative liabilities	`ValueOfDerivativeLiabilities`	$42.37K	USD	3 Qtrs
Initial value of derivative liabilities	`ValueOfDerivativeLiabilities`	$383.52K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.96M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-72.99K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$103.67K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$205.65K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$34.27K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$29.51K	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-472.07K	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-182.42K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Repayment of notes payable-related party	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of notes payable-related party	`RepaymentsOfRelatedPartyDebt`	$28.00K	USD	3 Qtrs
Repayment of note payable	`RepaymentsOfDebt`	$92.50K	USD	3 Qtrs
Repayment of note payable	`RepaymentsOfDebt`	$130.00K	USD	3 Qtrs
Proceeds from notes payable-related party	`ProceedsFromRelatedPartyDebt`	$71.00K	USD	3 Qtrs
Proceeds from notes payable-related party	`ProceedsFromRelatedPartyDebt`	$329.81K	USD	3 Qtrs
Expenses paid by shareholder on Company's behalf	`RepaymentOfExpensesByShareholderOnCompanysBehalf`	$-25.05K	USD	3 Qtrs
Expenses paid by shareholder on Company's behalf	`RepaymentOfExpensesByShareholderOnCompanysBehalf`	-	USD	3 Qtrs
Proceeds allocated to derivative liability	`ProceedsFromDerivativeInstrumentFinancingActivities`	-	USD	3 Qtrs
Proceeds allocated to derivative liability	`ProceedsFromDerivativeInstrumentFinancingActivities`	$75.00K	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$229.00K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$168.50K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$181.56K	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$466.31K	USD	3 Qtrs
Net Increase/(Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.70K	USD	3 Qtrs
Net Increase/(Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-867.00	USD	3 Qtrs
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$30.26K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$30.26K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$23.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$28.00K	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Common stock surrendered or cancelled	`CommonStockCancelled`	$1.00	USD	3 Qtrs
Common stock surrendered or cancelled	`CommonStockCancelled`	$95.00K	USD	3 Qtrs
Common stock issued for prepaid expenses	`CommonStockIssuedForPrepaidExpenses`	$178.50K	USD	3 Qtrs
Common stock issued for prepaid expenses	`CommonStockIssuedForPrepaidExpenses`	$2.49M	USD	3 Qtrs
Conversion of debt in common stock	`DebtConversionConvertedInstrumentSharesIssued1`	433,665.00	shares	3 Qtrs
Conversion of debt in common stock	`DebtConversionConvertedInstrumentSharesIssued1`	130,000.00	shares	3 Qtrs

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