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UNITED
STATES
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OMB
APPROVAL
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SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C.
20549
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OMB
Number 3235-0416
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Expires:
April 30, 2010
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FORM
10-QSB
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Estimated
average burden hours per response:
182
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| x | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||
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For
the quarterly period ended
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September
30, 2007
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| o | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT | |||
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For
the transition period from
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to
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Commission
file number
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333-139564
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Best
Care, Inc.
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(Exact
name of small business issuer as specified in its
charter)
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Nevada
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20-5659065
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(State
or other jurisdiction of incorporation or organization)
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(IRS
Employer Identification No.)
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No.
A156, Xi Guo Yuan
Yong
Shun Village, Tongzhou District
Beijing,
P.R. China
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(0086)10-60538544
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(Former
name, former address and former fiscal year, if changed since last
report)
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PART
1 - FINANCIAL INFORMATION
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Page
No.
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Item
1. Financial Statements
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Item
2. Management’s Discussion and Analysis Or Plan of
Operation
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Item
3. Controls and Procedures
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PART
II - OTHER INFORMATION
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Item
1. Legal Proceedings
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Item
2. Unregistered Sales of Equity Securities and Use of
Proceeds
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Item
3. Defaults Upon Senior Securities
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Item
4. Submission of Matters to a Vote of Security
Holders
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Item
5. Other Information
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Item
6. Exhibits
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SIGNATURES
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Financial
Statements-
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Balance
Sheet as of September
30,
2007
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F-2
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Statements
of Operations for the Three-Months and Nine-Months Ended
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September
30, 2007, and Cumulative from Inception
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F-3
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Statements
of Cash Flows for the Nine-Months Ended September 30,
2007,
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and
Cumulative from Inception
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F-4
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Notes
to Financial Statements September 30, 2007
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F-5
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ASSETS
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2007
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Current
Assets:
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Cash
in bank
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$
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470
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Deposit
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500
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Total
current assets
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970
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Total
Assets
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$
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970
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LIABILITIES
AND STOCKHOLDERS' (DEFICIT)
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Current
Liabilities:
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Accounts
payable - Trade
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$
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1,331
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Accrued
liabilities
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3,649
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Total
current liabilities
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4,980
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Total
liabilities
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4,980
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Commitments
and Contingencies
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Stockholders'
(Deficit):
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Preferred
Stock, par value $.001 per share, 5,000,000 shares
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authorized;
no shares issued and outstanding
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-
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Common
Stock, par value $.001 per share, 100,000,000 shares
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authorized;
4,250,000 shares issued and outstanding
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4,250
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Additional
paid-in capital
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61,250
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(Deficit)
accumulated during the development stage
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(69,510
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)
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Total
stockholders' (deficit)
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(4,010
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)
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Total
Liabilities and Stockholders' (Deficit)
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$
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970
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Three-Months
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Nine-Months
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Ended
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Ended
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Cumulative
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September
30,
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September
30,
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From
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2007
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2007
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Inception
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Revenues
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$
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-
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$
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-
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$
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-
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Expenses:
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General
and administrative-
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Professional
fees
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14,668
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38,058
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66,026
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Officers'
compensation paid by issued shares
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-
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-
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3,000
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Other
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-
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1,220
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2,460
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Legal
fees - Organization costs
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-
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-
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399
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Total
general and administrative expenses$
14,668
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39,278
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71,885
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(Loss)
from Operations
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$
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(14,668
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)
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(39,278
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)
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(71,885
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Other
Income (Expense)
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2,375
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2,375
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2,375
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Provision
for Income Taxes
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-
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-
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-
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Net
(Loss)
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$
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(12,293
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)
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$
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(36,903
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)
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$
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(69,510
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(Loss)
Per Common Share:
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(Loss)
per common share - Basic and Diluted
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$
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(0.00
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$
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(0.01
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)
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Weighted
Average Number of Common Shares
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Outstanding
- Basic and Diluted
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4,250,000
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4,250,000
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Nine
Months
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Ended
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Cumulative
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September
30,
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From
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2007
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Inception
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Operating
Activities:
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Net
(loss)
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$
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(36,903
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)
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$
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(69,510
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)
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Adjustments
to reconcile net (loss) to net cash
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(used
in) operating activities:
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Common
stock issued for officers' compensation
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-
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3,000
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Changes
in assets and liabilities-
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Deposit
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(500
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(500
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Accounts
payable - Trade
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(6,036
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)
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1,331
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Accrued
liabilities
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(951
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)
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3,649
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Net
Cash (Used in) Operating Activities
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(44,390
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)
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(62,030
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Investing
Activities:
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Cash
provided by investing activities
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-
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-
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Net
Cash Provided by Investing Activities
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-
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-
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Financing
Activities:
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Issuance
of common stock for cash
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1,000
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62,500
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Due
to stockholder
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(575
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-
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Net
Cash Provided by Financing Activities
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425
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62,500
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Net
(Decrease) Increase in Cash
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(43,965
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)
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470
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Cash
- Beginning of Period
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44,435
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-
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Cash
- End of Period
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$
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470
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$
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470
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Supplemental
Disclosure of Cash Flow Information:
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Cash
paid during the period for:
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Interest
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$
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-
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$
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-
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Income
taxes
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$
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-
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$
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-
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On
October 5, 2006, the Company issued 2,200,000 shares of common
stock,
valued at
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$2,200
to an officer of the Company for services rendered.
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On
October 5, 2006, the Company issued 800,000 shares of common stock,
value
at
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$800
to an officer of the Company for services rendered.
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In
August 2007, the Company was forgiven of debt totaling $2,375 from
a
former
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stockholder
and Director.
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Three-Months
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Nine-Months
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Ended
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Ended
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September
30,
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September
30,
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2007
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2007
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Current
Tax Provision:
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Federal-
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Taxable
income
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$
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-
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$
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-
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Total
current tax provision
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$
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-
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$
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-
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Deferred
Tax Provision:
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Federal-
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Loss
carryforwards
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$
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1,845
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$
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5,537
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Change
in valuation allowance
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(1,845
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)
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(5,537
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)
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Total
deferred tax provision
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$
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-
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$
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-
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2007
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Loss
carryforwards
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$
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10,427
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Less
- Valuation allowance
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(10,427
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Total
net deferred tax assets
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$
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-
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Exhibit
Number
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Exhibit
Title
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31.1
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Certification
of CEO pursuant to Rule 13a-14(a) or 15d-14 (a) as adopted pursuant
to
Section 302 of the Sarbanes-Oxley Act of 2002.
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32.1
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Certification
Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section
906 of
the Sarbanes-Oxley Act of 2002
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Best
Care, Inc.
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| Date: November 15, 2007 | By: |
/s/
Jing Jiang
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Jing Jiang |
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Chief
Executive Officer, Chief Financial
Officer
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