U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 10-Q

(Mark One)

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

For the fiscal quarter ended June 30, 2017

[ ]	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from to

PAY MY TIME LTD

(Exact name of small business issuer as specified in its charter)

England and Wales		333-216437		Not Applicable
(State of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

30, Percy Street

London W1T2DB

United Kingdom

(Address of principal executive offices) (Zip code)

Issuer’s telephone number +44020 74671700

Securities registered under Section 12(g) of the Exchange Act:

Ordinary Shares

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 [X] No [ ]

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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [ ]

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 the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer [ ]		Accelerated Filer [ ]
Non-accelerated Filer [ ] (Do not check if a smaller reporting company)		Smaller Reporting Company [X]

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

There were 3,000,000 shares outstanding of registrant’s Ordinary Shares as of August 11, 2017.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

TABLE OF CONTENTS

	PART I
Item 1.	Financial Statements	3
	Balance Sheets as of June 30, 2017 (unaudited) and December 31, 2016	F-1
	Unaudited Statements of Comprehensive Loss for the three and six months ended June 30, 2017 and June 30, 2016	F-3
	Unaudited Statements of Cash Flows for the six months ended June 30, 2017 and June 30, 2016	F-5
	Notes to Unaudited Consolidated Financial Statements	F-6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operation	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	8
Item 4.	Controls and Procedures	8
PART II
Item 1.	Legal Proceedings	8
Item 1A.	Risk Factors	8
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	8
Item 3.	Defaults Upon Senior Securities	9
Item 4.	Mine Safety Disclosures	9
Item 5.	Other Information	9
Item 6.	Exhibits	9

SIGNATURES		10

PART I

ITEM 1. FINANCIAL STATEMENTS

CONTENTS

	PAGE
Condensed Consolidated Balance Sheets	F-1

Condensed Consolidated Statements Of Operations	F-2

Condensed Consolidated Statements Of Comprehensive Loss	F-3

Condensed Consolidated Statements Of Changes In shareholders’ Deficit	F-4

Condensed Consolidated Statements Of Cash Flows	F-5

Notes to Condensed Consolidated Financial Statements	F-6 to F-8

PAY MY TIME LIMITED

Condensed Consolidated Balance Sheets

June 30, 2017 and December 31, 2016

	June 30, 2017			December 31, 2016
	(Unaudited)			(Audited)
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	1,127		$	12,406
Prepaid expenses		45			531

TOTAL CURRENT ASSETS		1,172			12,937

SOFTWARE, net of accumulated amortization of $0		29,205			27,453

OTHER ASSETS
Patents, net of accumulated amortization of $4,954 and $2,477		87,272			83,176

TOTAL ASSETS	$	117,649		$	123,566

LIABILITIES AND SHAREHOLDERS’ DEFICIT

CURRENT LIABILITIES
Accounts payable and accrued expenses	$	250,399		$	156,087
Loans payable - shareholder		10,599			-

TOTAL CURRENT LIABILITIES		260,998			156,087

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ DEFICIT

Ordinary shares, $0.425 par value; unlimited shares authorized; 3,000,000 shares issued and outstanding at June 30, 2017 and December 31, 2016		1,275,000			1,275,000

Additional paid in capital		(850,115	)		(850,115	)

Accumulated deficit		(570,009	)		(463,572	)

Cumulative other comprehensive income		1,775			6,166

SHAREHOLDERS’ DEFICIT		(143,349	)		(32,521	)

TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	$	117,649		$	123,566

Pay My Time Ltd 10-Q