Corindus Vascular Robotics, Inc. - FORM 10-Q

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EX-31.2 - CERTIFICATION - Corindus Vascular Robotics, Inc.	yidi_ex312.htm
EX-32.1 - CERTIFICATION - Corindus Vascular Robotics, Inc.	yidi_ex321.htm
EX-31.1 - CERTIFICATION - Corindus Vascular Robotics, Inc.	yidi_ex311.htm
EXCEL - IDEA: XBRL DOCUMENT - Corindus Vascular Robotics, Inc.	Financial_Report.xls

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended June 30, 2013

o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission file number: 333-176581

YOUR INTERNET DEFENDER INC.

(Exact name of registrant as specified in its charter)

Nevada		30-0687898
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

c/o Lisa Grossman

20 East Sunrise Highway

Suite 202

Valley Stream, New York 11581

(Address of principal executive offices)

(516) 303- 8199

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes o No x

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data file required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	o	Smaller reporting company	x
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As of August 21, 2013, 52,000,000 shares of common stock, par value $0.0001 per share, were issued and outstanding.

TABLE OF CONTENTS

		Page
PART I FINANCIAL INFORMATION

Item 1.	Financial Statements		F-1

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		3

Item 3.	Quantitative and Qualitative Disclosures About Market Risk		8

Item 4.	Controls and Procedures		9

PART II OTHER INFORMATION

Item 1.	Legal Proceedings		10

Item 1A.	Risk Factors		10

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		10

Item 3.	Defaults Upon Senior Securities		10

Item 4.	Mine Safety Disclosures		10

Item 5.	Other Information		10

Item 6.	Exhibits		11

PART I

FINANCIAL INFORMATION

Item 1. Financial Statements.

YOUR INTERNET DEFENDER, INC.

(A DEVELOPMENT STAGE COMPANY)

June 30, 2013 and 2012

Index to the Financial Statements

Contents	Page(s)

Balance Sheets at June 30, 2013 (Unaudited) and March 31, 2013		F-2

Statements of Operations for the Three Months Ended June 30, 2013 and 2012 and for the Period from May 4, 2011 (inception) through June 30, 2013 (Unaudited)		F-3

Statement of Stockholders’ Equity (Deficit) for the Period from May 4, 2011 (inception) through June 30, 2013 (Unaudited)		F-4

Statements of Cash Flows for the Three Months Ended June 30, 2013 and 2012 and for the Period from May 4, 2011 (inception) through June 30, 2013 (Unaudited)		F-5

Notes to the Financial Statements (Unaudited)		F-6

F-1

Your Internet Defender, Inc.

(A Development Stage Company)

Balance Sheets

	June 30, 2013			March 31, 2013
	(Unaudited)
ASSETS
CURRENT ASSETS:
Cash	$	-		$	-
Accounts receivable		1,325			40,656
Prepaid expenses		-			312

Total Current Assets		1,325			40,968

OTHER ASSETS:
Website development costs, net		9,785			12,031
Security deposit		325			325

Total Other Assets		10,110			12,356

Total Assets	$	11,435		$	53,324

LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Bank overdraft	$	81		$	3,636
Notes payable - related party		72,800			43,500
Accounts payable		3,555			3,555
Accrued expenses and other current liabilities		148,592			117,095

Total Current Liabilities		225,028			167,786

Total Liabilities		225,028			167,786

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' DEFICIT:

Preferred stock par value $0.0001: 1,000,000 shares authorized; none issued or outstanding		-			-

Common stock par value $0.0001: 150,000,000 shares authorized; 52,000,000 shares issued and outstanding		5,200			5,200
Additional paid-in capital		124,640			122,040
Deficit accumulated during the development stage		(343,433	)		(241,702	)

Total Stockholders' Deficit		(213,593	)		(114,462	)

Total Liabilities and Stockholders' Deficit	$	11,435		$	53,324

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

F-2

Your Internet Defender, Inc.

(A Development Stage Company)

Statements of Operations

	For the Three Months Ended			For the Three Months Ended			For the Period from May 4, 2011 (inception) through
	June 30, 2013			June 30, 2012			June 30, 2013
	(Unaudited)			(Unaudited)			(Unaudited)

Net revenues earned during the development stage	$	9,077		$	22,846		$	335,994

Cost of revenues		28,385			42,512			363,850

Gross Margin		(19,308	)		(19,666	)		(27,856	)

Operating expenses
Compensation expense		2,600			2,600			22,400
General and administrative		79,311			23,357			289,456

Total operating expenses		81,911			25,957			311,856

LOSS FROM OPERATIONS		(101,219	)		(45,623	)		(339,712	)

OTHER (INCOME) EXPENSE:
Interest expense		512			450			3,721

Total other (income) expense		512			450			3,721

Loss from operations		(101,731	)		(46,073	)		(343,433	)

Income tax provision		-			-			-

Net loss	$	(101,731	)	$	(46,073	)	$	(343,433	)

Net loss per common share
- Basic and diluted:	$	(0.00	)	$	(0.00	)

Weighted average common shares outstanding
- basic and diluted		52,000,000			52,000,000

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

F-3

Your Internet Defender, Inc.

(A Development Stage Company)

Statement of Stockholders' Equity (Deficit)

For the Period from May 4, 2011 (Inception) through June 30, 2013

(Unaudited)

	Common Stock Par Value $0.0001				Additional		Deficit Accumulated during the			Total Stockholders'
	Number of Shares		Amount		Paid-in Capital		Development Stage			Equity (Deficit)


Balance, May 4, 2011 (inception)		-	$	-	$	-	$	-		$	-

Sale of common stock to Founders at $0.0001 per share		9,400,000		940		-					940

Sale of common stock in private placement at $0.0025 per share		42,600,000		4,260		102,240					106,500

Non cash compensation						9,400					9,400

Net loss								(51,864	)		(51,864	)

Balance, March 31, 2012		52,000,000		5,200		111,640		(51,864	)		64,976

Non cash compensation						10,400					10,400

Net loss								(189,838	)		(189,838	)

Balance, March 31, 2013		52,000,000		5,200		122,040		(241,702	)		(114,462	)

Non cash compensation						2,600					2,600

Net loss								(101,731	)		(101,731	)

Balance, June 30, 2013		52,000,000	$	5,200	$	124,640	$	(343,433	)	$	(213,593	)

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

F-4

Your Internet Defender, Inc.

(A Development Stage Company)

Statements of Cash Flows

	For the Three Months Ended June 30, 2013			For the Three Months Ended June 30, 2012			For the Period from May 4, 2011 (inception) through June 30, 2013
	(Unaudited)			(Unaudited)			(Unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(101,731	)	$	(46,073	)	$	(343,433	)

Adjustments to reconcile net loss to net cash used in operating activities
Amortization		2,246			2,246			17,165
In-kind compensation		2,600			2,600			22,400
Changes in operating assets and liabilities:
Accounts receivable		39,331			2,629			(1,325	)
Prepaid expenses		312			-			-
Security deposit		-			-			(325	)
Bank overdraft		(3,555	)		-			81
Accounts payable		-			53			3,555
Accrued expenses and other current liabilities		31,497			(233	)		148,592

NET CASH USED IN OPERATING ACTIVITIES		(29,300	)		(38,778	)		(153,290	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Website development costs		-			-			(26,950	)

NET CASH USED IN INVESTING ACTIVITIES		-			-			(26,950	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock		-						107,440
Proceeds from notes payable-related party		29,300						95,300
Repayments to notes payable-related party		-						(22,500	)

NET CASH PROVIDED BY FINANCING ACTIVITIES		29,300			-			180,240

NET CHANGE IN CASH		-			(38,778	)		-

Cash at beginning of period		-			48,600			-

Cash at end of period	$	-		$	9,822		$	-

SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid	$	-		$	-		$	2,009
Income tax paid	$	-		$	-		$	-

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

F-5

NOTE 1

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization

Your Internet Defender, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on May 4, 2011, to engage in online brand management, focusing on offsite search engine optimization (“SEO”), social media reputation monitoring, and specialized brand reputation marketing.

The Company is a development stage company as defined by section 915-10-20 of the FASB Accounting Standards Codification. The Company is still devoting substantially all of its efforts on establishing the business and, therefore, still qualifies as a development stage company. All losses accumulated since inception have been considered as part of the Company’s development stage activities.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that could affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates.

Cash and Cash Equivalents

For purposes of the cash flow statements, the Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents.

Revenue Recognition

The Company recognizes revenue in accordance with FASB ASC No. 985-605, “Revenue Recognition”. In all cases, revenue is recognized as the services are performed and when the price is fixed and determinable, persuasive evidence of an arrangement exists, and collectability of the resulting receivable is reasonably assured. For services where the Company does not have a contract, revenue is generally recognized when the services are performed and accepted by the customer and the amounts are earned and collection is reasonably assured. Revenue under contract agreements where there is a fixed term of service is recognized over the straight line method over the term of the agreement.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable consist of trade receivables recorded at original invoice amount, less an estimated allowance for uncollectible accounts. Trade credit is generally extended on a short-term basis; thus, trade receivables do not bear interest, although finance charges may be applied to receivables that are past due. Trade receivables are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Changes in the estimated collectability of trade receivables are recorded in the results of operations for the period in which the estimate is revised.

The Company does not have any off-balance-sheet credit exposure to its customers.

Website Development Costs

The Company capitalizes its costs to develop its website and internal-use software when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Such costs are amortized on a straight-line basis over the estimated useful life of three years. Costs incurred prior to meeting these criteria, together with costs incurred for training and maintenance, are expensed as incurred.

F-6

As of June 30, 2013, the Company capitalized $26,950 of website development costs. Amortization expense for the three months ended June 30, 2013 and 2012 amounted to $2,246 and $2,246, respectively.

Income Tax Provision

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Fair Value of Financial Instruments

The carrying amount of the Company's accounts receivable, accounts payable and accrued expenses approximate fair value due to the relatively short period to maturity for these instruments.

Concentration of Credit Risk

The Company’s financial instruments that are exposed to the concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivables. The Company’s places its cash with high quality institutions. At times, such investments may be in excess of the FDIC insurance limit. Cash and cash equivalents held in a bank may exceed federally insured limits at year end and at various points during the year.

The Company routinely assesses the financial strength of its customers and, as a consequence, believes that its trade accounts receivable credit risk exposure is limited.

During the three months ended June 30, 2013 and 2012 three customers made up sales of 43%, 25% and 12% for the interim period ended June 30, 2013 and four customers comprised sales of 55%, 14%, 10% and 10% for the interim period ended June 30, 2012. The remainder customers were each under 10%.

Loss per Share

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB Accounting Standards Codification Topic 260, “Earnings per Share.” As of June 30, 2013 and December 31, 2012, there were no common share equivalents outstanding.

Recent Accounting Pronouncements

In January 2013, the FASB issued ASU No. 2013-01, "Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities". This ASU clarifies that the scope of ASU No. 2011-11, "Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities." applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in FASB Accounting Standards Codification or subject to a master netting arrangement or similar agreement. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013.

F-7

In February 2013, the FASB issued ASU No. 2013-02, "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The ASU adds new disclosure requirements for items reclassified out of accumulated other comprehensive income by component and their corresponding effect on net income. The ASU is effective for public entities for fiscal years beginning after December 15, 2013.

In February 2013, the Financial Accounting Standards Board, or FASB, issued ASU No. 2013-04, "Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for which the Total Amount of the Obligation Is Fixed at the Reporting Date." This ASU addresses the recognition, measurement, and disclosure of certain obligations resulting from joint and several arrangements including debt arrangements, other contractual obligations, and settled litigation and judicial rulings. The ASU is effective for public entities for fiscal years, and interim periods within those years, beginning after December 15, 2013.

In March 2013, the FASB issued ASU No. 2013-05, "Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity." This ASU addresses the accounting for the cumulative translation adjustment when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The guidance outlines the events when cumulative translation adjustments should be released into net income and is intended by FASB to eliminate some disparity in current accounting practice. This ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013.

In March 2013, the FASB issued ASU 2013-07, “Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting.” The amendments require an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent. Liquidation is imminent when the likelihood is remote that the entity will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy). If a plan for liquidation was specified in the entity’s governing documents from the entity’s inception (for example, limited-life entities), the entity should apply the liquidation basis of accounting only if the approved plan for liquidation differs from the plan for liquidation that was specified at the entity’s inception. The amendments require financial statements prepared using the liquidation basis of accounting to present relevant information about an entity’s expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation. The entity should include in its presentation of assets any items it had not previously recognized under U.S. GAAP but that it expects to either sell in liquidation or use in settling liabilities (for example, trademarks). The amendments are effective for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. Entities should apply the requirements prospectively from the day that liquidation becomes imminent. Early adoption is permitted.

Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.

F-8

NOTE 2

STOCKHOLDERS' EQUITY

(A) Preferred Stock

In June 2011, the Company amended its Articles of Incorporation to authorize 1,000,000 shares of preferred stock with a par value of $0.0001 with rights and preferences to be determined by the Board of Directors of the Company.

(B) Common Stock

In June 2011, the Company amended its Articles of Incorporation to authorize 150,000,000 shares of common stock with a par value of $0.0001.

On July 25, 2011, the Company issued 9,400,000 shares of its common stock to three (3) founders at $0.0001 price per share for cash of $940.

During the period from July 28, 2011 through August 18, 2011, the Company issued 42,600,000 shares of its common stock to individuals for cash of $106,500 ($0.0025 per share).

For the three months ended June 30, 2013, two shareholders of the Company contributed services having a fair value of $2,600.

NOTE 3

RELATED PARTY TRANSACTIONS

On July 30, 2012, the Company executed a four-year consulting agreement for $12,000 per month with a related party commencing upon the earlier of (i) the consummation by the Company of equity financings (including financings with an equity component) resulting in gross proceeds to the Company of no less than $500,000 or (ii) September 1, 2012. The agreement calls for an automatic renewal for an additional three years if the Company has raised in total a minimum of $2,000,000 in gross capital from any and all sources. On October 1, 2012 the agreement was modified whereby the compensation under the consulting agreement was waived for the period from October through December 2012.

The Company recorded consulting expenses of $36,000 for the three months ended June 30, 2013.

On October 5, 2012 the Company borrowed $2,500 from a related party, payable on demand and bearing interest at 3% per annum. On October 15, 2012 the Company repaid $2,502 representing principal of $2,500 and interest of $2.

On November 9, 2012 the Company borrowed $27,000 from a related party, payable on demand and bearing an annual interest rate of 3%.

On January 13, 2013 the Company borrowed $4,500 from a related party, payable on demand and bearing an annual interest rate of 3%.

On March 13, 2013 the Company borrowed $10,000 from a related party, payable on demand and bearing an annual interest rate of 3%.

On March 27, 2013 the Company borrowed $2,000 from a related party, payable on demand and bearing an annual interest rate of 3%.

F-9

On April 17, 2013 the Company borrowed $13,000 from a related party, payable on demand but not before July 3, 2013 and bearing an annual interest rate of 3%.

On May 6, 2013 the Company borrowed $3,000 from a related party, payable on demand but not before October 31, 2013 and bearing an annual interest rate of 10%.

On June 5, 2013 the Company borrowed $3,300 from a related party, payable on demand but not before October 31, 2013 and bearing an annual interest rate of 10%.

On June 17, 2013 the Company borrowed $10,000 from a related party, payable on demand but not before October 31, 2013 and bearing an annual interest rate of 10%.

NOTE 4

GOING CONCERN

The financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

As reflected in the financial statements, the Company had deficit accumulated during the development stage at June 30, 2013, a net loss and net cash used in operating activities for the interim period then ended. These factors raise substantial doubt about its ability to continue as a going concern.

While the Company is attempting to establish its business and produce sufficient sales, the Company’s cash position may not be sufficient to support the Company’s daily operations. While the Company believes in the viability of its strategy to commence operations and produce sales volume and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan.

The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE 5

SUBSEQUENT EVENTS

The Company has evaluated subsequent events and transactions for potential recognition or disclosure in the financial statements through the date which the financial statements were issued to determine if they must be reported. The Management of the Company determined that there were certain reportable subsequent event(s) to be disclosed as follows:

On July 15, 2013 and July 17, 2013 the Company borrowed an aggregate of $15,820 from a related party, payable on demand, but not before October 13, 2013, and bearing interest at 10% per annum.

F-10

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Cautionary Note Regarding Forward-Looking Information and Factors That May Affect Future Results

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand a company’s future prospects and make informed investment decisions. This Quarterly Report on Form 10-Q and other written and oral statements that we make from time to time contain such forward-looking statements that set out anticipated results based on management’s plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by using words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will” and similar expressions in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance or results of current and anticipated sales efforts, expenses, the outcome of contingencies, such as legal proceedings, and financial results. A list of factors that could cause our actual results of operations and financial condition to differ materially is set forth below:

●	Our limited operating history and experience, ability to achieve profitability and our ability to continue to operate.
●	Our ability to obtain customers for our services.
●	Our dependence on services provided by our executive officers and directors who do not work full time.
●	Our dependence on future financing from our current stockholders and Directors.
●	Our reliance on strategic relationships to promote our services.
●	The effects of competition from other companies, customer acceptance of our products and services and our ability to offer competitive products and services.
●	Our lack of intellectual property rights and ease of entry into our business.
●	Increased costs as a result of becoming a reporting company.
●	The ability of our stockholders to sell their common stock may be limited because we are listed on the OTCQB Tier of the OTC Markets and do not meet the criteria to list our securities on an exchange such as The NASDAQ Stock Market.
●	The affects on our stock price as a result of sales of our common stock by existing shareholders pursuant to Rule 144.

We caution that the factors described herein and other factors could cause our actual results of operations and financial condition to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

As used in this Quarterly Report on Form 10-Q, references to the “Company,” “YID”, “we,” “our” or “us” refer to Your Internet Defender Inc. unless the context otherwise indicates. The following presentation of management’s discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the Company’s unaudited consolidated financial statements, the accompanying notes thereto and other financial information appearing elsewhere in this report and in conjunction with the Management's Discussion and Analysis set forth in our Annual Report on Form 10-K for the fiscal year ended March 31, 2012.

We are currently on a fiscal year ending March 31. We have defined various periods that are covered in this report as follows:

•		“fiscal 2013” – April 1, 2012 through March 31, 2013
•		“fiscal 2014” — April 1, 2013 through March 31, 2014.

Overview

Your Internet Defender Inc. was incorporated under the laws of the State of Nevada on May 4, 2011. We are in the business of providing online brand management, focusing on offsite search engine optimization (“SEO”), social media marketing and monitoring, and specialized brand reputation marketing. We have developed a range of services, proprietary methodology and systems that enable companies, professionals and individuals to protect and promote their brands in the most favorable manner, while attracting traffic to their desired web locations. Our search engine optimization, on-line reputation management and social monitoring services are fully operational. In addition, we have developed automated reputation monitoring products, as well as downloadable software to be used directly by our customers without any assistance.

Our services can be classified in the following categories:

1.	Search Engine Optimization (SEO)

2.	Social Media Marketing and Monitoring

3.	Specialized Online Brand Reputation Management

We have two primary pricing structures, (i) an hourly or per-deliverable fixed fee or (ii) monthly recurring fees.

Over the course of the next 6-12 months, we intend to actively work on establishing new business opportunities by searching for new clients and expanding the scope of work with our existing clients. Our plan is to continue to invest in the creation of new products and services, some of which may be mass-marketed to the general public, in order to attract clientele of lower-income levels (for example, job seekers looking to change their careers, etc.). On the higher-income levels, we will look to participate in larger projects typically awarded to well-established public relations and marketing firms, and which are sub-contracted out to smaller firms.

Results of Operations

The following comparative analysis on results of operations was based primarily on the comparative financial statements, footnotes and related information for the periods identified below and should be read in conjunction with the financial statements and the notes to those statements that are included elsewhere in this report. The results discussed below are for the three months ended June 30, 2013 and 2012. For comparative purposes, we are comparing the three months ended June 30, 2013 to the three months ended June 30, 2012.

Revenue

Revenue during the three month period ended June 30, 2013 decreased by $13,769 compared to the three months ended June 30, 2012 primarily as a result of the company curtailing the servicing of many of its accounts. During this period, the Company reexamined its business plan and only maintained service to five clients.

Cost of Revenues

Cost of revenues during the three month period ended June 30, 2013 decreased by $14,127 compared to the three months ended June 30, 2012 primarily as a result of a decrease in our revenues as discussed above.

Total operating expenses

Total operating expenses in the three months ended June 30, 2013 were $81,911, an increase of $55,594 compared to the three months ended June 30, 2012. These expenses increased primarily due to an increase in general and administrative expenses associated with management compensations costs and SEC reporting requirements.

Net loss

Net loss in the three month period ended June 30, 2013 was $101,731, an increase of $55,658 compared to the three month period ended June 30, 2012. This increase was primarily a result of the increase in operating expenses and reduction in net revenues discussed above.

Liquidity and Capital Resources

Liquidity is the ability of an enterprise to generate adequate amounts of cash to meet its needs for cash requirements. As of June 30, 2013 our working capital amounted to $(223,703), for a decrease of $96,885 as compared to $(126,818) as of June 30, 2012. We rely upon cash generated from our operations and loans from related parties to fund our operations. We expect to continue to borrow funds for working capital purposes from related parties over the next twelve months.

Net cash used in operating activities was ($29,300) during the three months ended June 30, 2013 compared to ($38,778) in the same period in 2012. The decrease in cash used in operating activities is primarily attributable to an increase in our net loss, partially offset by a reduction in accounts receivable with a corresponding increase in accrued expenses and other current liabilities.

Net cash flows from financing activities during the three months ended June 30, 2013 was $29,300 compared to $0 in the same period in 2012. The increase was a result of loans we received from a related party to fund our working capital needs.

There are no limitations in the certificate of incorporation on the Company’s ability to borrow funds or raise funds through the issuance of capital stock.

Two of our stockholders provided, without cost to the Company, services, valued at $2,600 for the three month period ended June 30, 2013. The total of these expenses was reflected in the statement of operations as general and administrative expenses with a corresponding contribution to paid-in capital.

We may not have sufficient resources to effectuate our business plan. We expect to incur a minimum of $130,000 in expenses during fiscal 2014. We estimate that this will be comprised of approximately $85,000 towards salaries, programming and subcontractors, $15,000 towards marketing materials and sales. Additionally, approximately $30,000 will be needed for general overhead expenses such as for corporate legal and accounting fees, office overhead and general working capital. Accordingly, we may have to raise the funds to pay for these expenses. We potentially will have to issue debt or equity or enter into a strategic arrangement with a third party.

There can be no assurance that additional capital will be available to us. We currently have no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. Since we have no other such arrangements or plans currently in effect, our inability to raise funds for the above purposes will have a severe negative impact on our ability to remain a viable Company.

The Company currently has no plans to conduct any research and development or to purchase or sell any significant equipment. If the Company is unable to obtain the working capital it requires to operate its business, it does not expect to hire any employees during the next 12 months.

Going Concern Consideration

The Company has been in the development stage since its inception and continues to incur significant losses. We had a net loss since inception of $343,433 and for the period from inception through June 30, 2013, $153,290 in cash was used in operating activities and $26,950 in cash was used in investing activities. This raises substantial doubt about our ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and generate additional revenues and profits from our business plan.

In the opinion of our independent registered public accounting firm for our fiscal year end March 31, 2012, our auditor included a statement that as a result of our significant losses since inception there is a substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Off-Balance Sheet Arrangements

There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Related Party Transactions

We have historically borrowed funds from both related and unrelated parties. At June 30, 2013 and March 31, 2013 we had outstanding net advances and loans from related parties of $72,800 and $43,500, respectively. The loans and advances bear interest at rates ranging from 3% to 10% per annum and are payable on dates ranging from on demand to on demand but not before October 31, 2013.

Critical Accounting Policies and Estimates

Estimates

Cash and Cash Equivalents

For purposes of the cash flow statements, the Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents.

Revenue Recognition

The Company recognizes revenue in accordance with FASB ASC No. 985-605, “Revenue Recognition”. In all cases, revenue is recognized as the services are performed and when the price is fixed and determinable, persuasive evidence of an arrangement exists, and collectability of the resulting receivable is reasonably assured. For services where we do not have a contract, revenue is generally recognized when the services are performed and accepted by the customer and the amounts are earned and collection is reasonably assured. We recognize revenue under contracts agreements where we have a fixed term of service using the straight line method over the term of the agreement.

Allowance for Doubtful Accounts

At June 30, 2013 management considers all accounts receivable collectable and has not made a provision for doubtful accounts.

Website Development Costs

Income Taxes

Business Segments

The Company operates in one segment and therefore segment information is not presented.

Fair Value of Financial Instruments

The carrying amounts of the Company's accounts receivable, accounts payable and accrued expenses approximate their fair value due to the relatively short period to maturity for these instruments.

Concentration of Credit Risk

The Company’s financial instruments that are exposed to the concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivables. The Company’s places its cash with high quality institutions. At June 30, 2013 the Company did not have any balances that exceeded FDIC insurance limits.

The Company routinely assesses the financial strength of its customers and, as a consequence, believes that its trade accounts receivable credit risk exposure is limited.

During the three months ended June 30, 2013 and 2012 three customers made up sales of 43%, 25% and 12% for the period ended June 30, 2013 and four customers comprised sales of 55%, 14%, 10% and 10% for the period ended June 30, 2012. The remainder customers were each under 10%. As a result of this customer concentration, our business would be greatly damaged if we were to lose any of our primary customers.

Loss Per Share

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB Accounting Standards Codification Topic 260, “Earnings Per Share.” As of June 30, 2013 there were no common share equivalents outstanding.

Recent Accounting Pronouncements

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable to a smaller reporting company.

Item 4. Controls and Procedures.

We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”) that are designed to ensure that information required to be disclosed by us in reports that we file under the Exchange Act is recorded, processed, summarized and reported as specified in the SEC’s rules and forms and that such information required to be disclosed by us in reports that we file under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer, or CEO, and our Chief Financial Officer, CFO, to allow timely decisions regarding required disclosure. Management, with the participation of our CEO and CFO, performed an evaluation of the effectiveness of our disclosure controls and procedures as of June 30, 2013. Based on that evaluation, our management, including our CEO and CFO, concluded that our disclosure controls and procedures were effective as of June 30, 2013.

Our management, including our Chief Executive Officer and our Chief Financial Officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our Company have been detected.

Changes in Internal Control

There were no changes identified in connection with our internal control over financial reporting during the three months ended June 30, 2013 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II

OTHER INFORMATION

Item 1. Legal Proceedings.

We are not presently a party to any material litigation, nor to the knowledge of management is any litigation threatened against us that may materially affect us.

Item 1A. Risk Factors.

Not applicable to a smaller reporting company.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not Applicable

Item 5. Other Information.

None.

Item 6. Exhibits.

The following exhibits are being filed as part of this Quarterly Report on Form 10-Q.

Exhibit No.		Description

31.1*		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act

31.2*		Certification of Principal Financial and Accounting Officer pursuant to Section 302 of the Sarbanes-Oxley Act

32.1*		Certification of Principal Executive Officer and Principal Financial and Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act

101.INS **		XBRL Instance Document

101.SCH **		XBRL Taxonomy Extension Schema Document

101.CAL **		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF **		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB **		XBRL Taxonomy Extension Label Linkbase Document

101.PRE **		XBRL Taxonomy Extension Presentation Linkbase Document

____________

* Filed herewith.

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	YOUR INTERNET DEFENDER INC.

Dated: August 22, 2013	By	/s/ Lisa Grossman
		Name: Lisa Grossman
		Title: President (Principal Executive Officer)

Dated: August 22, 2013	By	/s/ Gabriel Solomon
		Name: Gabriel Solomon
		Title: Treasurer (Principal Financial and Accounting Officer)

Attached files

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