NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES	6 Months Ended
Jun. 30, 2015
Accounting Policies:
Significant Accounting Policies	NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES *Organization* Ballroom Dance Fitness, Inc. was organized January 2, 2009 under the laws of the State of Florida. The Company has earned revenues from providing private dance lessons and fitness dance classes in South Florida and operates a ballroom dance venue in North Palm Beach, Florida. In October 2013, the Company acquired the assets of Plaza Ballroom and Event Centre and on April 18, 2014, acquired a license from the National Dance Council of America to operate ballroom dance competitions in the county of Palm Beach, Florida. The Company has created three wholly owned subsidiaries under the laws of the state of Florida: Palm Beach Dance Challenge, LLC for the purpose of marketing dance competitions in Palm Beach, Florida; Plaza Ballroom & Event Centre, LLC to operate a ballroom dance hall and event center in Palm Beach, Florida; and Pro Arena Rugby, Inc. for the purpose of the formation of a World Arena Rugby League. During the three months ended June 30, 2015, the Company, through its wholly owned subsidiaries, acquired the rights to 1) the World Arena Rugby League for consideration of 3,000,000 shares of common stock, 2) a 70% interest in the “Great American Divas” for consideration of 600,000 shares of common stock, and 3) a 50% in the net profits of “Kobra and the Lotus” for cash consideration of $237,500. See note 5. The World Arena Rugby League is a concept to form a new indoor Rugby league. The Great American Divas is a Broadway style show featuring music and production of the 70’s era. The Company plans to produce and promote a series of Live Concert events featuring the Great American Diva’s in 2015, with the ultimate goal of securing residency in casino showrooms nationwide in 2016. It is the Company’s intention to franchise the production and expand its presence globally. The Company through its licensing agreement has secured the recording, touring, and merchandising rights. Kobra and the Lotus is a Canadian recording artist scheduled to perform 90 plus shows in 2015 throughout Canada, USA, and Europe, and plans to release a new record in the second quarter of 2016. The Company is broadening its business plan with investments, acquisitions, new products and joint ventures creating a diversified Entertainment Company that has multiple divisions and subsidiaries in the Music Industry, Merchandising Industry, Professional Sports Industry, Fitness Industry, Dancing Industry and Special Events Venue. The Company has not only changed the business plan, it is in the process of changing its name to ZOOM Companies, Inc. and is waiting for FINRA to assign a new trading symbol. *Basis of Accounting* The accompanying unaudited condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with a reading of the Company’s financial statements and notes thereto included in the Company’s Form 10-K annual report filed with the Securities and Exchange Commission (SEC) on April 15, 2015. Interim results of operations for the six months ended June 30, 2015 are not necessarily indicative of future results for the full year. *Principle of Consolidation* The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. *Use of Estimates* The preparation of financial statements in conformity with generally accepted accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates *Fair Value of Financial Instruments* The Company’s consolidated balance sheets include certain financial instruments. The carrying amounts of accounts payable and due to stockholder approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. *Cash and Cash Equivalents* Cash and cash equivalents includes all cash deposits and highly liquid financial instruments with an original maturity of three months or less. *Intangible Assets* Intangible assets, which are composed of music rights, rights to dance competitions, sports leagues, music acts and goodwill. Intangible assets with indefinite lives, which are not amortized but are reviewed for impairment at least annually. All intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company’s rights to a recording artist are being amortized over the estimated life of 10 years. An impairment loss is recognized if the carrying amount of the asset exceeds its fair value. No impairment loss has been recognized during the six months ended June 30, 2015 and year ended December 31, 2014. *Stock-based Compensation* Share-based payments to employees, including grants of employee stock options are recognized as compensation expense in the financial statements based on their fair values, in accordance with FASB ASC Topic 718. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company had no common stock options or common stock equivalents granted or outstanding for all periods presented. The Company may issue shares as compensation in future periods for employee services. The Company may issue restricted stock to consultants for various services. Cost for these transactions will be measured at the fair value of the services provided or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock is to be measured at the earlier of: (i) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached, or (ii) the date at which the counterparty's performance is complete. The Company may issue shares as compensation in future periods for services associated with the registration of the common shares. *Revenue recognition* The Company leases its studio to third parties, who collect and retain fees for events and lessons. The Company recognizes revenues related to these arrangements during the period in which the events are held or lessons are given. Ancillary revenues related to events, including music concerts, sporting tickets, food and beverage sales, are recognized during the period in which the events are held. *Income taxes* We account for income taxes in accordance with ASC 740, Accounting for Income Taxes, as clarified by ASC 740-10, and Accounting for Uncertainty in Income Taxes. Under this method, deferred income taxes are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year to year. In providing for deferred taxes, we consider tax regulations of the jurisdictions in which we operate, estimates of future taxable income, and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies vary, adjustments to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria of ASC 740. ASC 740-10 requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the “more-likely-than-not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. *Loss per share* Basic loss per share calculations are determined by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share calculations are determined by dividing the net loss by the weighted average number of common shares plus any potentially dilutive shares. The Company has not issued any potentially dilutive securities since its inception. *Recent Accounting Pronouncements* The Company has reviewed the FASB issued Accounting Standards Update (“ASU”) accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

6 Months Ended

Jun. 30, 2015

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

Organization

Ballroom Dance Fitness, Inc. was organized January 2, 2009 under the laws of the State of Florida. The Company has earned revenues from providing private dance lessons and fitness dance classes in South Florida and operates a ballroom dance venue in North Palm Beach, Florida. In October 2013, the Company acquired the assets of Plaza Ballroom and Event Centre and on April 18, 2014, acquired a license from the National Dance Council of America to operate ballroom dance competitions in the county of Palm Beach, Florida.

The Company has created three wholly owned subsidiaries under the laws of the state of Florida: Palm Beach Dance Challenge, LLC for the purpose of marketing dance competitions in Palm Beach, Florida; Plaza Ballroom & Event Centre, LLC to operate a ballroom dance hall and event center in Palm Beach, Florida; and Pro Arena Rugby, Inc. for the purpose of the formation of a World Arena Rugby League.

During the three months ended June 30, 2015, the Company, through its wholly owned subsidiaries, acquired the rights to 1) the World Arena Rugby League for consideration of 3,000,000 shares of common stock, 2) a 70% interest in the “Great American Divas” for consideration of 600,000 shares of common stock, and 3) a 50% in the net profits of “Kobra and the Lotus” for cash consideration of $237,500. See note 5. The World Arena Rugby League is a concept to form a new indoor Rugby league. The Great American Divas is a Broadway style show featuring music and production of the 70’s era. The Company plans to produce and promote a series of Live Concert events featuring the Great American Diva’s in 2015, with the ultimate goal of securing residency in casino showrooms nationwide in 2016. It is the Company’s intention to franchise the production and expand its presence globally. The Company through its licensing agreement has secured the recording, touring, and merchandising rights. Kobra and the Lotus is a Canadian recording artist scheduled to perform 90 plus shows in 2015 throughout Canada, USA, and Europe, and plans to release a new record in the second quarter of 2016.

The Company is broadening its business plan with investments, acquisitions, new products and joint ventures creating a diversified Entertainment Company that has multiple divisions and subsidiaries in the Music Industry, Merchandising Industry, Professional Sports Industry, Fitness Industry, Dancing Industry and Special Events Venue.

The Company has not only changed the business plan, it is in the process of changing its name to ZOOM Companies, Inc. and is waiting for FINRA to assign a new trading symbol.

Basis of Accounting

The accompanying unaudited condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with a reading of the Company’s financial statements and notes thereto included in the Company’s Form 10-K annual report filed with the Securities and Exchange Commission (SEC) on April 15, 2015. Interim results of operations for the six months ended June 30, 2015 are not necessarily indicative of future results for the full year.

Principle of Consolidation

The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates

Fair Value of Financial Instruments

The Company’s consolidated balance sheets include certain financial instruments. The carrying amounts of accounts payable and due to stockholder approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.

Cash and Cash Equivalents

Cash and cash equivalents includes all cash deposits and highly liquid financial instruments with an original maturity of three months or less.

Intangible Assets

Intangible assets, which are composed of music rights, rights to dance competitions, sports leagues, music acts and goodwill. Intangible assets with indefinite lives, which are not amortized but are reviewed for impairment at least annually. All intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company’s rights to a recording artist are being amortized over the estimated life of 10 years. An impairment loss is recognized if the carrying amount of the asset exceeds its fair value. No impairment loss has been recognized during the six months ended June 30, 2015 and year ended December 31, 2014.

Stock-based Compensation

Share-based payments to employees, including grants of employee stock options are recognized as compensation expense in the financial statements based on their fair values, in accordance with FASB ASC Topic 718. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company had no common stock options or common stock equivalents granted or outstanding for all periods presented. The Company may issue shares as compensation in future periods for employee services.

The Company may issue restricted stock to consultants for various services. Cost for these transactions will be measured at the fair value of the services provided or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock is to be measured at the earlier of: (i) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached, or (ii) the date at which the counterparty's performance is complete. The Company may issue shares as compensation in future periods for services associated with the registration of the common shares.

Revenue recognition

The Company leases its studio to third parties, who collect and retain fees for events and lessons. The Company recognizes revenues related to these arrangements during the period in which the events are held or lessons are given. Ancillary revenues related to events, including music concerts, sporting tickets, food and beverage sales, are recognized during the period in which the events are held.

Income taxes

We account for income taxes in accordance with ASC 740, Accounting for Income Taxes, as clarified by ASC 740-10, and Accounting for Uncertainty in Income Taxes. Under this method, deferred income taxes are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year to year. In providing for deferred taxes, we consider tax regulations of the jurisdictions in which we operate, estimates of future taxable income, and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies vary, adjustments to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria of ASC 740.

ASC 740-10 requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the “more-likely-than-not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

Loss per share

Basic loss per share calculations are determined by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share calculations are determined by dividing the net loss by the weighted average number of common shares plus any potentially dilutive shares. The Company has not issued any potentially dilutive securities since its inception.

Recent Accounting Pronouncements

The Company has reviewed the FASB issued Accounting Standards Update (“ASU”) accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

BALLROOM DANCE FITNESS, INC. 10-Q