10-K Filing

BLUSKY AI INC. CIK: 1416090 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001493152-15-005806`
Period End Date	20150731
Filing Date	20151123
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	imiie-20150731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 34 Cash Flow Statement 64 Stockholders Equity 32

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Convertible note payable related party debt discount net	`ConvertibleNotePayableRelatedPartyDebtDiscountNet`	$60.88K	USD	Point-in-time
Convertible note payable related party debt discount net	`ConvertibleNotePayableRelatedPartyDebtDiscountNet`	-	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$124.10K	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$168.90K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$194.86K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$135.09K	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
Total Current Assets	`AssetsCurrent`	$140.78K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$194.86K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Land and mineral rights	`MineralRights`	-	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Assets	`Assets`	$194.86K	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`	20.21M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.21M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$77.63K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.77M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.50K	USD	Point-in-time
Checks in excess of bank	`BankOverdrafts`	$23.00	USD	Point-in-time
Checks in excess of bank	`BankOverdrafts`	-	USD	Point-in-time
Accrued salary	`AccruedSalariesCurrentAndNoncurrent`	$342.00K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$113.59K	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 $60,882 and $0 as of July 31, 2015 and 2014, respectively	`ConvertibleNotePayableToRelatedPartyCurrent`	$622.89K	USD	Point-in-time
Convertible note payable - related party, net of debt discount of $60,882 and $0 as of July 31, 2015 and 2014, respectively	`ConvertibleNotePayableToRelatedPartyCurrent`	-	USD	Point-in-time
Convertible notes payable, net of debt discount of 168,902 and $124,103 as of July 31, 2015 and 2014, respectively	`ConvertibleNotesPayableCurrent`	$159.10K	USD	Point-in-time
Convertible notes payable, net of debt discount of 168,902 and $124,103 as of July 31, 2015 and 2014, respectively	`ConvertibleNotesPayableCurrent`	$558.40K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$112.85K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$364.95K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.79M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.16M	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, 20,206,013 and 21,770,681 shares issued and outstanding as of July 31, 2015 and 2014, respectively	`CommonStockValue`	$218.00	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 shares authorized, 20,206,013 and 21,770,681 shares issued and outstanding as of July 31, 2015 and 2014, respectively	`CommonStockValue`	$202.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.07M	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`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.66M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-38.65K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.60M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.09M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$194.86K	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	-	USD	Annual
Exploration costs	`ExplorationCosts`	$248.54K	USD	Annual
Exploration costs	`ExplorationCosts`	$34.49K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.96M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$701.17K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$735.66K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$3.21M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-3.21M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-735.66K	USD	Annual
Interest income	`InterestIncomeOther`	-	USD	Annual
Interest income	`InterestIncomeOther`	-	USD	Annual
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$1.27M	USD	Annual
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$12.02K	USD	Annual
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	$161.75K	USD	Annual
Gain (loss) on forgiveness of debt	`GainOnForgivenessOfDebt`	$-147.78K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-15.84K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on impairment of mining claim	`GainLossOnImpairmentOfMiningClaim`	-	USD	Annual
Loss on impairment of mining claim	`GainLossOnImpairmentOfMiningClaim`	$-950.16K	USD	Annual
Interest expense	`InterestExpenseOther`	$783.23K	USD	Annual
Interest expense	`InterestExpenseOther`	$1.84M	USD	Annual
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-918.99K	USD	Annual
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-1.37M	USD	Annual
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.65M	USD	Annual
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.58M	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`	$-4.58M	USD	Annual
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	Annual
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	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`	21.46M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.65M	USD	Annual
Net Loss	`NetIncomeLoss`	$-4.58M	USD	Annual
Depreciation expense	`Depreciation`	-	USD	Annual
Depreciation expense	`Depreciation`	-	USD	Annual
Impairment of mining claim	`GainLossOnImpairmentOfMiningClaim`	-	USD	Annual
Impairment of mining claim	`GainLossOnImpairmentOfMiningClaim`	$-950.16K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$365.09K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$-1.06M	USD	Annual
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$112.85K	USD	Annual
Change in warrant liability	`IncreaseDecreaseInWarrantLiabilities`	-	USD	Annual
Change in warrant liability	`IncreaseDecreaseInWarrantLiabilities`	$-111.61K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$688.40K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$649.73K	USD	Annual
Initial value of derivative liabilities	`ValueOfDerivativeLiabilities`	-	USD	Annual
Initial value of derivative liabilities	`ValueOfDerivativeLiabilities`	$902.60K	USD	Annual
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	-	USD	Annual
Loss on settlement of accounts payable	`LossOnSettlementOfAccountsPayable`	$147.78K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-15.84K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	$148.75K	USD	Point-in-time
Gain on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	$-161.75K	USD	Annual
Gain on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	-	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.52M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$100.26K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$81.78K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$261.16K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$16.96K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$102.08K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-342.05K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-506.39K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Repayment of note payable	`RepaymentsOfDebt`	$5.00K	USD	Annual
Repayment of note payable	`RepaymentsOfDebt`	$142.00K	USD	Annual
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$294.62K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$403.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$182.50K	USD	Annual
Proceeds from notes payable-related party - expenses	`ProceedsFromNotesPayableRelatedPartyExpenses`	$14.62K	USD	Annual
Proceeds from notes payable-related party - expenses	`ProceedsFromNotesPayableRelatedPartyExpenses`	-	USD	Annual
Proceeds from notes payable-related party - cash	`ProceedsFromRelatedPartyDebt`	$107.61K	USD	Annual
Proceeds from notes payable-related party - cash	`ProceedsFromRelatedPartyDebt`	$382.70K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$168.50K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$316.62K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$500.70K	USD	Annual
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-25.43K	USD	Annual
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.70K	USD	Annual
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.12K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$72.41K	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Conversion of debt to common stock	`DebtConversionConvertedInstrumentSharesIssued1`	287,588.00	shares	Point-in-time
Conversion of debt to common stock	`DebtConversionConvertedInstrumentSharesIssued1`	101,023.00	shares	Point-in-time
Conversion of debt to common stock	`DebtConversionConvertedInstrumentSharesIssued1`	123,967.00	shares	Point-in-time
Conversion of debt to common stock	`DebtConversionConvertedInstrumentSharesIssued1`	418,125.00	shares	Annual
Conversion of debt to common stock	`DebtConversionConvertedInstrumentSharesIssued1`	88,526.00	shares	Point-in-time
Conversion of debt to common stock	`DebtConversionConvertedInstrumentSharesIssued1`	130,000.00	shares	Annual

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-38.65K	USD	Point-in-time
Balance	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.60M	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$301.00K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$50.84K	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$18.79K	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$20.93K	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$49.92K	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$28.60K	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$42.03K	USD	Point-in-time
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	181,250.00	shares	Point-in-time
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	181,251.00	shares	Point-in-time
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	181,250.00	shares	Point-in-time
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	381,250.00	shares	Point-in-time
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	181,251.00	shares	Point-in-time
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	281,251.00	shares	Point-in-time
Shares issued for cash	`StockIssuedDuringPeriodValueOther`	$168.50K	USD	Annual
Shares issued for conversion of debt	`ConversionOfStockAmountConverted1`	$418.12K	USD	Annual
Shares issued for conversion of debt	`ConversionOfStockAmountConverted1`	$130.00K	USD	Annual
Shares issued for settlement of accounts payable	`StockIssuedDuringPeriodValueIssuedForSettlementOfAccountsPayable`	$249.53K	USD	Annual
Shares to be issued for services rendered	`StockIssuedDuringPeriodValueIssuedForServicesRendered`	$44.84K	USD	Annual
Shares issued for prepaid services	`StockIssuedDuringPeriodValueIssuedForPrepaidServices`	$2.58M	USD	Annual
Shares surrendered and cancelled	`StockRepurchasedDuringPeriodValue`	-	USD	Point-in-time
Shares surrendered and cancelled	`StockRepurchasedDuringPeriodValue`	-	USD	Annual
Shares surrendered and cancelled, shares	`StockRepurchasedDuringPeriodShares`	592,000.00	shares	Point-in-time
Debt discount on convertible notes due to beneficial conversion feature	`DebtDiscountOnConvertibleNotesDueToBeneficialConversionFeature`	$730.00K	USD	Annual
Debt discount on convertible notes due to beneficial conversion feature	`DebtDiscountOnConvertibleNotesDueToBeneficialConversionFeature`	$52.22K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-1.65M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-4.58M	USD	Annual
Balance	`StockholdersEquity`	$-38.65K	USD	Point-in-time
Balance	`StockholdersEquity`	$-69.43K	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.60M	USD	Point-in-time

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