10-Q Filing

BLUSKY AI INC. CIK: 1416090 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001493152-16-007117`
Period End Date	20150930
Filing Date	20160203
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	imii-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 30 Cash Flow Statement 58

Balance Sheet 60 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`	$982.00	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$75.75K	USD	Point-in-time
Convertible notes, debt discount	`DebtInstrumentUnamortizedDiscount`	$168.90K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$72.43K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$29.49K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$71.21K	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`	$194.86K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$100.70K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	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 outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Assets	`Assets`	$194.86K	USD	Point-in-time
Total Assets	`Assets`	$100.70K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	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`	14.76M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$211.37K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.21M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$77.63K	USD	Point-in-time
Cash in excess of bank	`BankOverdrafts`	$23.00	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.21M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.76M	shares	Point-in-time
Cash in excess of bank	`BankOverdrafts`	-	USD	Point-in-time
Accrued liabilities - related party	`DueToRelatedPartiesCurrent`	$342.00K	USD	Point-in-time
Accrued liabilities - related party	`DueToRelatedPartiesCurrent`	$378.00K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$113.59K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$69.43K	USD	Point-in-time
Convertible note payable - related party, net of debt discount of $982 and $60,882 as of September 30, 2015 and July 31, 2015, respectively	`ConvertibleNotePayableToRelatedPartyCurrent`	$753.74K	USD	Point-in-time
Convertible note payable - related party, net of debt discount of $982 and $60,882 as of September 30, 2015 and July 31, 2015, respectively	`ConvertibleNotePayableToRelatedPartyCurrent`	$622.89K	USD	Point-in-time
Convertible notes payable, net of debt discount of $75,755 and $168,902 as of September 30, 2015 and July 31, 2015, respectively	`ConvertibleNotesPayableCurrent`	$186.19K	USD	Point-in-time
Convertible notes payable, net of debt discount of $75,755 and $168,902 as of September 30, 2015 and July 31, 2015, respectively	`ConvertibleNotesPayableCurrent`	$159.10K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$476.14K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$997.31K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.79M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.60M	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, 14,757,683 and 20,206,013 shares issued and outstanding as of September 30, 2015 and July 31, 2015, respectively	`CommonStockValue`	$202.00	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 shares authorized, 14,757,683 and 20,206,013 shares issued and outstanding as of September 30, 2015 and July 31, 2015, respectively	`CommonStockValue`	$148.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.66M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.60M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.50M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$100.70K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$194.86K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Exploration costs	`ExplorationCosts`	$17.40K	USD	1 Quarter
Exploration costs	`ExplorationCosts`	$44.27K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$196.38K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$537.78K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$213.78K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$582.05K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-213.78K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-582.05K	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$36.13K	USD	1 Quarter
Change in derivative liability	`DerivativeGainLossOnDerivativeNet`	$-522.94K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-17.14K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$192.14K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$149.96K	USD	1 Quarter
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-113.83K	USD	1 Quarter
Total Other Income/(Expenses)	`OtherNonoperatingIncomeExpense`	$-732.23K	USD	1 Quarter
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-695.88K	USD	1 Quarter
Loss from Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-946.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-946.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-695.88K	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
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`	22.48M	shares	1 Quarter
Weighted average number of shares outstanding during the period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.01M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-946.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-695.88K	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$35.00K	USD	1 Quarter
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$-36.13K	USD	1 Quarter
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$522.94K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-17.14K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$153.05K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$149.96K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-123.65K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-417.06K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$40.76K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$169.74K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-1.00K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-35.91K	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-90.23K	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$4.61K	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	`RepaymentsOfNotesPayable`	$250.00K	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	$5.00K	USD	1 Quarter
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$46.05K	USD	1 Quarter
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$10.00K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$250.00K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$100.00K	USD	1 Quarter
Proceeds from notes payable-related party	`ProceedsFromRelatedPartyDebt`	$71.97K	USD	1 Quarter
Proceeds from notes payable-related party	`ProceedsFromRelatedPartyDebt`	$70.96K	USD	1 Quarter
Cash in excess of bank	`ProceedsFromRepaymentsOfBankOverdrafts`	$-23.00	USD	1 Quarter
Cash in excess of bank	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$24.88K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$156.97K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$29.49K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$66.74K	USD	1 Quarter
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$72.43K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$29.49K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.70K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$72.43K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$29.49K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$75.00K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Conversion of debt and accrued interest to common stock	`DebtConversionConvertedInstrumentAmount1`	$17.14K	USD	Point-in-time
Conversion of debt and accrued interest to common stock	`DebtConversionConvertedInstrumentAmount1`	$15.00K	USD	1 Quarter
Conversion of debt and accrued interest to common stock	`DebtConversionConvertedInstrumentAmount1`	$15.00K	USD	Point-in-time
Conversion of debt and accrued interest to common stock	`DebtConversionConvertedInstrumentAmount1`	$28.25K	USD	1 Quarter
Conversion of debt and accrued interest to common stock	`DebtConversionConvertedInstrumentAmount1`	$5.00K	USD	Point-in-time
Conversion of derivative liabilities	`ConversionOfDerivativeLiabilities`	$1.78K	USD	1 Quarter
Conversion of derivative liabilities	`ConversionOfDerivativeLiabilities`	-	USD	1 Quarter
Shares cancelled	`StockRepurchasedDuringPeriodValue`	-	USD	1 Quarter
Shares cancelled	`StockRepurchasedDuringPeriodValue`	-	USD	Point-in-time
Shares cancelled	`StockRepurchasedDuringPeriodValue`	$61.00	USD	1 Quarter
Shares issued in debt extension/extinguishment	`SharesIssuedInDebtExtensionExtinguishment`	$17.14K	USD	1 Quarter
Shares issued in debt extension/extinguishment	`SharesIssuedInDebtExtensionExtinguishment`	-	USD	1 Quarter

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