RAINBOW INTERNATIONAL, CORP. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - January 18, 2013

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Note 7 - Business Combination: Business combinations (Tables)

6 Months Ended

Nov. 30, 2012

Tables/Schedules

Business combinations

Following is the proforma balance sheet and income statement as of the acquisition date, July 31, 2012:


	Rainbow			Aslanay	Elim		Consol
ASSETS
Current assets
Cash	$203,102			$128,585	$0		$331,687
Intercompany	30,000			0	(30,000)		0
Other current assets	0			6,651	0		6,651
Total current assets	233,102			135,236	(30,000)		338,338

Investment in subsidiary	377,115			0	(377,115)		0

Property and equipment	0			276,740	0		276,740

Total assets	$610,217			$411,976	$(407,115)		$615,078

LIABILITIES AND EQUITY
Current liability
Intercompany	$0			$30,000	$(30,000)		$0
Other	560			4,862	0		5,422
Total current liability	560			34,862	(30,000)		5,422
Total liabilities	560			34,862	(30,000)		5,422

Stockholders' Equity/(Deficit)
Common stock/ Share capital		3,540	530,495		(530,495)			3,540
Paid in surplus	21,060			0	0		21,060
Stock subscription	641,982			0	0		641,982
Retained Deficit	(56,925)			(153,380)	153,380		(56,925)
Total stockholders' equity	609,657			377,115	(377,115)		609,657
Total liabilities and equity	$610,217			$411,976	$(407,115)		$615,078

		June through July 31, 2012
		Rainbow	Aslanay	Elim	Consol
Revenue		$ 0	$ 0	$0	$ 0
Expenses:
Exploration costs		24,046	11,400	0	35,446
Office		0	30,531	0	30,531
Contract labor		20,000	4,044	0	24,044
Legal and professional		29,809	0	0	29,809
Other		285	92	0	377
Total expenses		74,140	46,067	0	120,207

Income/ (loss) from operations		(74,140)	(46,067)	0	(120,207)

Other income/ (expenses)		0	0	0	0

Income before income taxes		(74,140)	(46,067)	0	(120,207)
Income taxes		0	0	0	0

Net income/ (loss)		$(74,140)	$(46,067)	$0	$(120,207)

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