NOTE 1 – BASIS OF
PRESENTATION AND ORGANIZATION
The Company was organized
as Kids Only Market Inc. under the laws of the State of Nevada on April 9, 2010. On May 7, 2012, the Company changed
its name to Stevia Agritech Corporation.
On April 19, 2012 Mr. Paul
Perlman resigned as a director and President, CEO, CFO, Chief Accounting Officer, Secretary and Treasurer. He was replaced
in these offices by Mr. Lester Esquerra Martinez, a Phillipine resident.
Current Business of the
The Company has had no material
business operations from inception April 9, 2010 to September 30, 2012. The Company formed plans to offer an on-line
resource for buyers and sellers of children’s “hand me down” items.
The Company’s financial
statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern,
which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company
had an operating loss from inception (April 9, 2010) to September 30, 2012 of $(69,138). The Company has not yet
established an ongoing source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern.
The ability of the Company
to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes
profitable. If the Company is unable to obtain adequate capital, it could be forced to cease development of operations.
In order to continue as a
going concern, develop a reliable source of revenues, and achieve a profitable level of operations the Company will need, among
other things, additional capital resources. Management’s plans to continue as a going concern include raising
additional capital through borrowing and sales of common stock. However, management cannot provide any assurances that
the Company will be successful in accomplishing any of its plans.
The ability of the Company
to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph
and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements
do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
The Company is considered
a development-stage company, with limited operating revenues during the periods presented, as defined by FASB Accounting Standards
Codification ASC 915. ACS 915 requires companies to report their operations, shareholders’ deficit and cash flows
since inception through the date that revenues are generated from management’s intended operations, among other things. Management
has defined inception as April 9, 2010. Since inception, the Company has incurred an operating loss of $(69,138). The
Company’s working capital has been generated from solicitation of subscriptions for stock. Management has provided
financial data since April 9, 2010 in the financial statements, as a means to provide readers of the Company’s financial
information to make informed investment decisions.