Organization, Consolidation and Presentation of Financial Statements	3 Months Ended
	Sep. 30, 2012
Organization, Consolidation and Presentation of Financial Statements
Use of Estimates, Policy	Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported and disclosures included in the consolidated financial statements. Actual results could differ from those assumptions and estimates. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these notes to the consolidated financial statements
Going Concern Note	As shown in the accompanying financial statements, the Company has incurred a net loss of ($280,4550) and ($33,720) for the nine months ended September 30, 2012 and 2011 and has an accumulated deficit of ($873,544) as of September 30, 2012. The Company’s limited capital resources as well as the current absence of a customer base in the new activity that we have elected to pursue which now consist in the marketing and selling cosmetics and cosmetics related products expose the Company to significant risk going forward. After searching for new distribution channels to sell the Company’s software and services to provide additional revenues to support our operations, the Company has elected to pursue opportunities in the international Cosmetics Industry and has discontinued its software business. Regardless of this transition, there is no guarantee that the Company will be able to raise additional capital, under terms satisfactory to the Company, or generate the increase in revenues sought. Management believes that the Company’s capital requirements will depend on many factors. These factors include the increase in sales in its new line of Cosmetics products as well as the Company’s ability to continue to expand its distribution channels. The financial statements do not include any adjustments relating to the carrying amounts of recorded assets or the carrying amounts and classification of recorded liabilities that may be required should the Company be unable to continue as a going concern.
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies	The unaudited financial statements included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements and notes are presented as permitted on Form 10-Q and do not contain information included in the Company’s annual statements and notes. Certain information and footnote disclosure normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these financial statements be read in conjunction with the December 31, 2011 10-K and audited financial statements and the accompanying notes thereto. While management believes the procedures followed in preparing these financial statements are reasonable, the accuracy of the amounts are in some respects dependent upon the facts that will exist, and procedures that will be accomplished by the Company later in the year. These unaudited financial statements reflect all adjustments, including normal recurring adjustments which, in the opinion of management, are necessary to present fairly the operations and cash flows for the periods presented. GMS Capital Corp. (the “Company” or “GMS”), a Florida Corporation, was founded on March 9, 2000. Originally our Company was doing business as Metratech Retail Systems Inc., a Canadian Corporation up until the reincorporation as GMS Capital Corp. in the State of Florida on September 18, 2007. The purpose of our Company was to develop and market inventory management software for suppliers to major retailers to enable suppliers to forecast consumer demand for their products and to optimize their production and inventory accordingly. In March 2012, following a review of our software operations, we decided to discontinue our software business effective April 1, 2012 and to engage in the distribution, marketing and sale of cosmetics and cosmetics-related products primarily in Canada, France and the French Caribbean. To that effect, On March 16, 2012, our Company entered into and closed a License and Distribution Agreement (the “License Agreement”) with 8012415 Canada Inc. (“Canada”) pursuant to which Canada granted the Company an exclusive worldwide license to distribute, market and sell the Nacara brand cosmetic products (the “Products”), excluding the territories of Finland, Russia and Sweden, in exchange for a royalty of 5% of the gross revenues of the Products sold by our Company. The Products include a full line of cosmetic products aimed at women with darker complexions and is currently available in Canada at drugstores including Pharmacie Jean-Coutu and Shoppers Drug Mart and in France at retailers including Galeries Lafayette, Marionnaud, Nocibé and Beauty Success. While the Company executed the License Agreement on March 16, 2012, and even though under the terms and conditions of the License Agreement the Company should have begun to generate revenues, our Company has encountered difficulties with Canada, the company with whom we have an agreement to distribute, market and sell the Nacara brand of cosmetic products on a worldwide basis. Despite entering into this License Agreement, Nacara Montreal Inc, the parent company of Canada, has continued to distribute, market and sell the cosmetic products under the Nacara brand through late September 2012. This non-compliance with the License Agreement is now essentially solved and the Company has begun to sell cosmetic products under the Nacara brand commencing in early October. Effective July 1, 2009, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 105-10, Generally Accepted Accounting Principles – Overall (“ASC 105-10”). ASC 105-10 establishes the FASB Accounting Standards Codification (the “Codification”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with U.S. GAAP. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative U.S. GAAP for SEC registrants. All guidance contained in the Codification carries an equal level of authority. The Codification superseded all existing non-SEC accounting and reporting standards. All other non-grandfathered, non-SEC accounting literature not included in the Codification is non-authoritative. The FASB will not issue new standards in the form of Statements, FASB Positions or Emerging Issue Task Force Abstracts. Instead, it will issue Accounting Standards Updates (“ASUs”). The FASB will not consider ASUs as authoritative in their own right. ASUs will serve only to update the Codification, provide background information about the guidance and provide the bases for conclusions on the change(s) in the Codification. References made to FASB guidance throughout this document have been updated for the Codification.

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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GMS Capital Corp. 10-Q/A