Document and Entity Information (USD $)

3 Months Ended

Oct. 31, 2015

Jan. 31, 2015

Dec. 15, 2015

Common Class A

Dec. 15, 2015

Common Stock B

Dec. 15, 2015

Common Class C

Dec. 15, 2015

Common Class D

Dec. 15, 2015

Preferred Class A

Entity Registrant Name

Ameri Metro, Inc. (formerly Yellowwood)

Document Type

10-Q

Document Period End Date

Oct. 31, 2015

Amendment Flag

false

Entity Central Index Key

0001534155

Current Fiscal Year End Date

--07-31

Entity Common Stock, Shares Outstanding

1,600,000

987,934,483

4,800,000

48,000,000

1,800,000

Entity Filer Category

Smaller Reporting Company

Entity Current Reporting Status

Yes

Entity Voluntary Filers

No

Entity Well-known Seasoned Issuer

No

Document Fiscal Year Focus

2016

Document Fiscal Period Focus

Q1

Entity Public Float

$ 0

Trading Symbol

amgi

STATEMENT OF FINANCIAL POSITION (USD $)

Oct. 31, 2015

Jul. 31, 2015

ASSETS

Cash and cash equivalents

$ 41,320

$ 0

Prepaid expenses

3,000

0

Total Current Assets

44,320

0

Office equipment, net

521

601

Deposits

1,500

Total Assets

46,341

2,101

Bank indebtness

0

528

Accounts payable

1,225,929

272,972

Accrued expenses

9,380,557

7,704,828

Due to related party

1,050

250

Loans payable - related party

614,487

528,552

Loans payable

3,403

Total Liabilities

11,225,426

8,510,533

Preferred stock, authorized

200,000,000

Preferred stock, par value

0.000001

Preferred stock, shares issued and outstanding

1,800,000

Paid in Capital preferred stock

2

Common stock class A, authorized

7,000,000

Common stock class A, par value

0.000001

Common stock class A, issued and outstanding

1,600,000

6,400,000

Paid in Capital Common stock class A

1

6

Common stock class B, authorized

4,000,000,000

Common stock class B, par value

0.000001

Common stock class B, issued and outstanding

1,052,291,626

1,093,876,626

Paid in Capital Common stock class B

1,052

1,094

Common stock class C, authorized

4,000,000,000

Common stock class C, par value

0.000001

Common stock class C, issued and outstanding

4,800,000

0

Paid in Capital Common stock class C

5

0

Common stock class D, authorized

4,000,000,000

Common stock class D, par value

0.000001

Common stock class D, issued and outstanding

48,000,000

0

Paid in Capital Common stock class D

48

0

Additional paid in Capital

5,596,716

5,595,967

Stock subscriptions receivable

(47,000)

Accumulated Deficit

(16,729,909)

(14,058,501)

Total Stockholders' Deficit

(11,179,085)

(8,508,432)

Total Liabilities and Equity Deficit

$ 46,341

$ 2,101

STATEMENTS OF OPERATIONS (USD $)

3 Months Ended

Oct. 31, 2015

Oct. 31, 2014

Income Statements

REVENUES

$ 0

Professional fees

775,873

11,650

Directors fees

600,750

314,518

Depreciation

80

66

General & administrative

184,137

63,349

Officer payroll

1,110,417

844,964

TOTAL OPERATING EXPENSES

2,671,257

1,234,547

LOSS FROM OPERATIONS

(2,671,257)

(1,234,547)

Interest expense

(146)

(119)

Termination Fee

(5)

0

TOTAL OTHER INCOME (EXPENSE)

(151)

(119)

Net Income (Loss)

(2,671,408)

(1,234,666)

Net loss per Common share (Basic and Diluted)

$ 0.00

$ (0.01)

Number of Common Shares - (Basic and Diluted)

1,105,352,006

235,231,681

STATEMENTS OF CASH FLOWS (USD $)

3 Months Ended

Oct. 31, 2015

Oct. 31, 2014

Statement of Cash Flows

Net Income (Loss)

$ (2,671,408)

$ (1,234,666)

Issuance of stock for services

750

0

Issuance of stock for Termination fee

5

0

Depreciation

80

66

Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities

835

66

Prepaid expense

(3,000)

0

Increase (Decrease) in Operating Assets

(3,000)

0

Accounts payable - period

952,957

(16,681)

Accrued expenses - period

1,675,729

1,233,290

Increase (Decrease) in Operating Liabilities

2,628,686

1,216,609

Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities

2,626,521

1,216,675

Net Cash Provided by (Used in) Operating Activities

(44,887)

(17,991)

Bank indebtedness, for the period

(528)

0

Proceeds from related party loan

112,000

19,505

Repayment of related party loan

(26,065)

0

Due to related party

800

0

Net Cash Provided by (Used in) Financing Activities

86,207

19,505

Net Decrease in Cash

41,320

1,514

Cash, Beginning of Period

0

2,191

Cash, End of Period

$ 41,320

$ 3,705

STATEMENT OF CASH FLOWS, SUPPLEMENTAL DISCLOSURES (USD $)

3 Months Ended

Oct. 31, 2015

Oct. 31, 2014

SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS

Interest paid

$ 0

Income taxes paid

$ 0

Note 1 - Summary of Significant Accounting Policies

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Ameri Metro, Inc. (“Ameri Metro” and the “Company”) was formed to engage primarily in high-speed rail for passenger and freight transportation and related transportation projects. The Company initially intends to develop a Midwest high-speed rail system for passengers and freight. Currently the Company is engaged in raising capital and entering into relationships in furtherance of its planned activities.

The Company’s activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the company’s business plan.

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of the Company. have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s financial statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the consolidated financial statements to be not misleading have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year 2015 as reported in Form 10-K, have been omitted.

Note 2 - Going Concern

NOTE 2 – GOING CONCERN

These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated any revenues since inception and is unlikely to generate earnings in the immediate or foreseeable future. As at October 31, 2015, the Company has a working capital deficiency of $11,181,106 and has accumulated losses of $16,729,909 since inception. The ability of Ameri Metro to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations.

Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and on-going operations; however, there can be no assurance the Company will be successful in these efforts. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

Note 3 - Due To Related Parties

NOTE 3 – DUE TO RELATED PARTIES

At October 31, 2015, the Company is indebted to three directors of the Company for $1,050 (July 31, 2015 - $250) for expenditures incurred on behalf of the Company. The amount is unsecured, non-interest bearing and due on demand.

Note 4 - Loans Payable - Related Parties

NOTE 4 – LOANS PAYABLE – RELATED PARTIES

As of October 31, 2015, $614,487 (July 31, 2015 - $528,552) is due to the majority shareholder, of which $508,058 is unsecured, non-interest bearing and due on demand, $11,829 is past due with an interest rate of 3%, and $94,600 is due on October 26, 2016 with an interest rate of 2%. At October 31, 2015, accrued interest on these loans is $626 (July 31, 2015 - $506). No repayments have been made to date.

Note 5 - Loan Payable

NOTE 5 – LOAN PAYABLE

On January 30, 2014, the Company entered into a short-term loan with a non-related party. The Company was loaned $6,000 from an investment company, the repayment terms are 3% interest with a maturity date of January 31, 2015. The Company has repaid $2,597 as of October 31, 2015. At October 31, 2015, accrued interest on these loans is $232 (July 31, 2015 - $206). At October 31, 2015, this loan is past due.

Note 6 - Capital Stock

NOTE 6 – CAPITAL STOCK

On November 3, 2014, the Company effected a 4:1 forward stock split of its issued and outstanding shares of common stock. As a condition of the split, all shareholders who wanted to participate were required to send $100 to the Transfer Agent to pay for the expense related to reissuance of shares due to split. The cutoff date for the return of the notification and payment to the transfer agent was December 31, 2014. If the shareholder did not return the confirmation and payment, they would not be eligible to receive the additional shares.

As of the date of this filing 99.71% of the shareholders participated and therefore the statements are retroactively adjusted to reflect a 3.99:1 forward split. Due to 3.99:1 forward split the shares increased to 938,192,724, the shares issuable to effect a 4:1 split is 2,736,000. As a result, all share amounts have been retroactively adjusted for all periods presented for a 3.99:1 forward split.

On August 3, 2015, the Company reclassified 4,800,000 shares of Class A common stock to Class C common stock and reclassified 48,000,000 shares of Class B common stock to Class D common stock.

On August 3, 2015, the Company issued 20,000 post-split shares of Class B common stock as termination fee for an agreement in which the Company did not fully perform. The fair value of these shares is $5 and is recorded as termination fee.

On August 3, 2015, the Company reinstated 20,000 shares of Class B common stock that were rescinded in error in the fiscal year ended July 31, 2015.

On August 31, 2015, the Company issued 1,000,000 post-split shares of Class B common stock to a director of the Company pursuant to directorship agreement entered on August 4, 2015. The fair value of these shares is $250 and is recorded as directors’ fees.

On September 10, 2015, the Company issued 2,000,000 post-split shares of Class B common stock to two directors of the Company pursuant to two directorship agreements entered on August 4, 2015. The fair value of these shares is $500 and is recorded as directors’ fees.

Note 7 - Commitments and Contingencies

NOTE 7 – COMMITMENTS AND CONTINGENCIES

Employee Agreements

The Company has entered into an employment agreement with the Chief Executive Officer Debra Mathias with an effective date of April 21, 2014. The term of the employment agreements is 3 years, with an annual base salary of $1,200,000.

The Company has signed an employment agreement for the Head of Mergers and Acquisitions and Business Development, and as non board member President, Mr. Shah Mathias (Company Founder), with an effective date of October 2, 2014. The term of the employment agreement is 20 years, with an annual base salary of $1,200,000 and ten percent (10%) of any revenue producing contract entered into by the Company while the Company Founder is in office, while holding any position under any title, and five percent (5%) of any such revenue producing contract afterward, for the benefit of the Company Founder or his estate, for a period of twenty (20) years. The Company Founder is also eligible to earn an annual bonus award of up to 100% of the annual base salary. In addition, the Company Founder is entitled to receive shares of the Company’s common stock as follows: when the Company issue shares for the Initial Public Offering, the Company Founder is to be issued 10% of the said shares; and if shares are issued at such time to any other party the Company Founder is to be issued an equal amount of shares.

The Company has entered into an employment agreement with the former Chief Financial Officer (the “CFO”) with an effective date of December 3, 2014. The term of the employment agreement is 3 years, with an annual base salary of $350,000. The former CFO is also entitled to 60,000,000 post-split shares of Class “B” common stock as a signing bonus. On December 30, 2014, the Company issued 60,000,000 post-split shares of Class “B” common stock to the former CFO. Subsequent to October 31, 2015, the former CFO has taken an extended leave of absence and the Company rescinded 60,000,000 post-split shares of Class B common stock that had been issued as the former CFO did not fully perform on his employment agreement.

The Company has entered into an employment agreement with the Chief Engineer with an effective date of December 3, 2014. The term of the employment agreement is 3 years, with an annual base salary of $175,000. The Chief Engineer is also entitled to 1,000,000 post split shares of Class “B” common stock as a signing bonus. On December 30, 2014, the Company issued 1,000,000 post split shares of Class “B” common stock to the Chief Engineer.

The Company has entered into a directorship agreement with a director of the Company with an effective date of June 30, 2015. The initial term of the directorship agreement is one year, with an annual base salary of $150,000. The director is also entitled to 1,000,000 post-split shares of Class B common stock. On July 24, 2015, the Company issued 1,000,000 post-split shares of Class B common stock to the director.

The Company entered into an employment agreement with the Chief Financial Officer (the “CFO”) with an effective date of August 4, 2015. The term of the employment agreement is 3 years, with an annual base salary of $350,000.

The Company entered into an employment agreement with the Chief Operating Officer (the “CFO”) with an effective date of August 4, 2015. The term of the employment agreement is 3 years, with an annual base salary of $375,000.

The Company entered into an employment agreement with the Chief General Counsel with an effective date of August 4, 2015. The term of the employment agreement is 3 years, with an annual base salary of $500,000.

The Company entered into three directorship agreements with three directors of the Company with an effective date of August 1, 2015. The initial term of the directorship agreements is one year, with an annual base salary of $150,000. Each of the three directors is also entitled to 1,000,000 post-split shares of Class B common stock. On August 31, 2015 and September 10, 2015, the Company issued 1,000,000 post-split shares and 2,000,000 post-split shares of Class B common stock to the three directors, respectively.

Operating Lease

On January 31, 2014, the Company terminated its existing office space lease, and entered into a new month to month rent agreement for office space. The new agreement which commences on November 1, 2015, calls for monthly rent payments of $1,440. The terminated lease agreement has not been resolved as to payment of existing amounts due in cash or stock, or as to any early termination fees. As of October 31, 2015, no stock has been issued in payment of rent.

Stock Split

In connection with the stock split, some shareholders did not respond or pay the transfer agent fee by the deadline. As a result, these shareholders were not issued the additional shares. At some point, the Company may be required to issue an additional 2,736,000 of Class B common stock in connection with this stock split.

Note 8 - Subsequent Events

NOTE 8 – SUBSEQUENT EVENTS

Subsequent to October 31, 2015, the Company rescinded 63,476,191 post-split shares of Class B common stock that had previously been issued to the former CFO for services as the former CFO did not fully perform on the original contract.

Subsequent to October 31, 2015, the Company rescinded 880,952 post-split shares of Class B common stock that had previously been issued for services as the consultant did not fully perform on the original contract.

Note 1 - Summary of Significant Accounting Policies: Nature of Business (Policies)

Nature of Business

Nature of Business

Ameri Metro, Inc. (“Ameri Metro” and the “Company”) was formed to engage primarily in high-speed rail for passenger and freight transportation and related transportation projects. The Company initially intends to develop a Midwest high-speed rail system for passengers and freight. Currently the Company is engaged in raising capital and entering into relationships in furtherance of its planned activities.

The Company’s activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the company’s business plan.

Note 1 - Summary of Significant Accounting Policies: Basis of Presentation (Policies)

Basis of Presentation

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of the Company. have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s financial statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the consolidated financial statements to be not misleading have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year 2015 as reported in Form 10-K, have been omitted.

Note 7 - Commitments and Contingencies: Employee Agreements (Policies)

Employee Agreements