Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2018 | Jul. 26, 2018 | Oct. 31, 2017 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | PREVENTION INSURANCE COM INC | ||
Entity Central Index Key | 1,134,982 | ||
Amendment Flag | false | ||
Trading Symbol | PVNC | ||
Current Fiscal Year End Date | --04-30 | ||
Document Type | 10-K | ||
Document Period End Date | Apr. 30, 2018 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,018 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 1,629,847 | ||
Entity Common Stock, Shares Outstanding | 22,340,081 |
Balance Sheets
Balance Sheets - USD ($) | Apr. 30, 2018 | Apr. 30, 2017 |
Current assets | ||
Cash | ||
Prepaid expenses | 3,333 | |
Total current assets | 3,333 | |
Total assets | 3,333 | |
Current liabilities | ||
Accounts payable | 8,720 | 519 |
Due to related party | 255,025 | 141,677 |
Total current liabilities | 263,745 | 142,196 |
Total liabilities | 263,745 | 142,196 |
Commitments and contingencies | ||
Stockholders' deficit | ||
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; zero shares issued and outstanding | ||
Common stock, $0.0001 par value; 100,000,000 shares authorized; 22,340,083 shares issued and 22,340,081 shares outstanding | 2,234 | 2,234 |
Additional paid-in capital | 4,640,351 | 4,640,351 |
Treasury stock, 2 shares, at cost | (52,954) | (52,954) |
Accumulated deficit | (4,850,043) | (4,731,827) |
Total stockholders' deficit | (260,412) | (142,196) |
Total liabilities and stockholders' deficit | $ 3,333 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Apr. 30, 2018 | Apr. 30, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 22,340,083 | 22,340,083 |
Common stock, shares outstanding | 22,340,081 | 22,340,081 |
Treasury stock, shares | 2 | 2 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Income Statement [Abstract] | ||
Revenue | ||
Cost of goods sold | ||
Gross profit | ||
General and administrative | 118,216 | 125,257 |
Operating loss | (118,216) | (125,257) |
Net loss | $ (118,216) | $ (125,257) |
Loss per common share - basic and dilutive | $ (0.01) | $ (0.01) |
Weighted average number of common shares outstanding - basic and diluted | 22,340,081 | 22,340,081 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Deficit - USD ($) | Preferred Stock | Common Stock | Additional Paid-In Capital | Treasury Stock | Accumulated Deficit | Total |
Balance at Apr. 30, 2016 | $ 2,234 | $ 4,640,351 | $ (52,954) | $ (4,606,570) | $ (16,939) | |
Balance, Shares at Apr. 30, 2016 | 22,340,083 | |||||
Net loss | (125,257) | (125,257) | ||||
Balance at Apr. 30, 2017 | $ 2,234 | 4,640,351 | (52,954) | (4,731,827) | (142,196) | |
Balance, Shares at Apr. 30, 2017 | 22,340,083 | |||||
Net loss | (118,216) | (118,216) | ||||
Balance at Apr. 30, 2018 | $ 2,234 | $ 4,640,351 | $ (52,954) | $ (4,850,043) | $ (260,412) | |
Balance, Shares at Apr. 30, 2018 | 22,340,083 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (118,216) | $ (125,257) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (3,333) | |
Accounts payable | 8,201 | (4,723) |
Net cash flows used in operating activities | (113,348) | (129,980) |
Cash flows from financing activities: | ||
Proceeds from advances from related parties | 113,348 | 129,980 |
Net cash flows provided by financing activities | 113,348 | 129,980 |
Net change in cash | ||
Cash and cash equivalents, beginning of period | ||
Cash and cash equivalents, end of period | ||
Supplemental cash flow disclosures: | ||
Interest paid | ||
Income taxes paid |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Basis of Presentation | 12 Months Ended |
Apr. 30, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Nature of Business Prevention Insurance.Com (the “Company”) was incorporated under the laws of the State of Nevada in 1975 as Vita Plus Industries, Inc. In March 1999, the Company sold its remaining inventory and changed its name to Prevention Insurance.Com. The Company’s business is to pursue a business combination through acquisition, or merger with, an existing company. No assurances can be given that the Company will be successful in locating or negotiating with any target company. Effective December 8, 2015, a change of control occurred with respect to the Company. Pursuant to a Securities Purchase Agreement entered into by and among the Company, Paragon Capital LP (“Paragon”), and Yik Kei Ong (“Buyer”, as nominee for certain third parties), Paragon assigned, transferred and conveyed to Buyer, as nominee, 2,109,286 shares of common stock of Company and convertible notes of the Company totaling $199,500. The convertible notes were convertible into common stock of the Company at $0.01 per share for a total of 19,950,000 shares of common stock. On the closing of the above transaction, Mr. Alan Donenfeld, the then sole officer of Paragon, resigned in all officer capacities from the Company and Yik Kei Ong was appointed interim Chief Executive Officer and Chief Financial Officer of the Company. Immediately following the closing of the transaction, the convertible notes ($199,500 in principal amount) were converted into 19,950,000 shares of common stock of the Company. After giving effect to the above described transaction, the controlling shareholders of the Company are Wooi Huat Teow, Chee Chow Teow and Ee Meng Teow. On March 9, 2016, the Board of Directors appointed Mr. Chee Chau Ng to the Company’s Board of Directors. In addition, on that same date, the Board of Directors appointed Mr. Ng as its President (Chief Executive Officer), Treasurer (Chief Financial Officer) and Secretary, replacing Mr. Yik Kei Ong who had resigned in all capacities as an officer of the Company on that date. As President of the Company, Mr. Ng will assume the role of Chairman of the Company Board of Directors. Effective May 24, 2016, Mr. Yik Kei Ong resigned as a member of the Company’s Board of Directors. On September 19, 2016, three of our shareholders, owning 15,638,084 shares of common stock, or approximately 70% of the total outstanding shares, approved an amendment to our articles of incorporation to change our corporate name from Prevention Insurance.com to AIM BIG Resources, Ltd. (the “Charter Amendment”). On November 18, 2016, we filed a Definitive Information Statement with the Securities and Exchange Commission. We mailed the Definitive Information Statement to our shareholders on November 21, 2016. In connection with the Charter Amendment, on December 20, 2016, we filed an Issuer Company-Related Action Notification Form with FINRA to receive approval of the name change. On February 3, 2017, FINRA effectively denied the corporate action request due to the prior regulatory history of two of the principal shareholders which occurred in Malaysia. The Company subsequently appealed the decision to FINRA. On March 28, 2017, FINRA re-affirmed its prior decision. Prior to the FINRA decision, an affiliate of the principal shareholders had advanced funds to the Company to cover its working capital needs. Following the FINRA decision in July 2017, this entity ceased making such advances and Metrowork Equity Sdn. Bhd. ("Metrowork"), a Malaysian company wholly owned by our sole officer and director ("Metrowork"), began advancing funds to the Company to cover its working capital needs. Effective May 30, 2018, a change of control occurred with respect to the Company. Pursuant to a Stock Purchase Agreement entered into by and among Chee Chow Teow, EE Meng Teow and Wooi Huat Teow ("Sellers") and Metrowork. Metrowork acquired from Sellers all of the shares of common stock held by the Sellers in the Company totaling 15,638,084 shares (representing 70% of the Company’s issued and outstanding shares of common stock). Our sole officer and director, Mr. Chee Chau Ng, is the sole shareholder and officer of Metrowork. Basis of Presentation The summary of significant accounting policies is presented to assist in the understanding of the financial statements. These policies conform to accounting principles generally accepted in the United States of America and have been consistently applied. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For the purpose of the statements of cash flows, all highly liquid investments with a maturity of three months or less are considered to be cash equivalents. Fair Value of Financial Instruments The fair value of cash and cash equivalents and accounts payable approximates the carrying amount of these financial instruments due to their short maturity. Net Loss per Share Calculation Basic net loss per common share ("EPS") is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Stock-Based Compensation The Company recognizes compensation cost based upon the fair value of stock options at the grant date using the Black-Scholes pricing model. During the years ended April 30, 2018 and 2017, the Company did not issue any shares for services nor did the Company issue any options as stock based compensation to any officers, directors, or non-employees. Income Taxes The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. Uncertain Tax Positions The Company evaluates tax positions in a two-step process. The Company first determines whether it is more likely than not that a tax position will be sustained upon examination. If a tax position meets the more-likely-than-not recognition threshold it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company classifies gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as long-term liabilities in the financial statements. Subsequent Events The Company has evaluated all transactions from April 30, 2018 through the financial statement issuance date for subsequent event disclosure consideration. Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02 “Leases” (Topic 842), which creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted. The new standard is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of the new pronouncement on its financial statements. In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing (Topic 606)”. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross verses Net) (Topic 606)”. These amendments provide additional clarification and implementation guidance on the previously issued ASU 2014-09, “Revenue from Contracts with Customers”. The amendments in ASU 2016-10 provide clarifying guidance on materiality of performance obligations; evaluating distinct performance obligations; treatment of shipping and handling costs; and determining whether an entity’s promise to grant a license provides a customer with either a right to use an entity’s intellectual property or a right to access an entity’s intellectual property. The amendments in ASU 2016-08 clarify how an entity should identify the specified good or service for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. The adoption of ASU 2016-10 and ASU 2016-08 is to coincide with an entity’s adoption of ASU 2014-09, which the Company intends to adopt for interim and annual reporting periods beginning after December 15, 2017. The Company is in the process of evaluating the standard and does not expect the adoption will have a material effect on its financial statements and disclosures. In May 2016, the FASB issued ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients”, which narrowly amended the revenue recognition guidance regarding collectability, noncash consideration, presentation of sales tax and transition and is effective during the same period as ASU 2014-09. The Company is currently evaluating the standard and does not expect the adoption will have a material effect on its financial statements and disclosures. The Company does not expect the adoption of recently issued, but not yet effective, accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Going Concern
Going Concern | 12 Months Ended |
Apr. 30, 2018 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2. GOING CONCERN The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. For the year ended April 30, 2018, the Company reported a net loss of $118,216 and has reported an accumulated deficit of $4,850,043 as of April 30, 2018. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties. The Company’s ability to continue as a going concern is dependent upon its ability to develop additional sources of capital, locate and complete a merger with another company and ultimately achieve profitable operations. No assurances can be given that the Company will be successful in locating or negotiating with any target company. |
Advances Due to Related Party
Advances Due to Related Party | 12 Months Ended |
Apr. 30, 2018 | |
Related Party Transactions [Abstract] | |
ADVANCES DUE TO RELATED PARTY | NOTE 3. ADVANCES DUE TO RELATED PARTY As of April 30, 2017, Haspro Holdings Sdn. Bhd., an entity related to the Company’s then controlling shareholders (“Former Affiliate”) advanced funds totaling $141,677 to the Company to meet its working capital requirements. The advances are unsecured, interest free and due on demand. During the year ended April 30, 2018, the Former Affiliate has advanced further funds totaling $17,828 to the Company to meet its working capital requirements. The advances were unsecured, interest free and due on demand. Consequently, as of April 30, 2018, the Former Affiliate has advanced funds totaling $159,505 to the Company to meet its working capital requirements. During July 2017, the Former Affiliate ceased making advances to the Company and during July 2017, Metrowork, a company owned by the Company’s current sole officer and director began making advances to the Company to fund its working capital needs. During the year ended April 30, 2018, Metrowork advanced funds totaling $95,519 to the Company to meet its working capital requirements. The advances were unsecured, interest free and due on demand. Subsequent to April 30, 2018 and through the date these financial statements were issued, Metrowork , further advanced funds totaling $16,647 to the Company to meet its working capital requirements. Metrowork is now the Company’s controlling stockholder. |
Income Taxes
Income Taxes | 12 Months Ended |
Apr. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 4. INCOME TAXES As of April 30, 2018, the Company had a federal net operating loss carryforward of approximately $1,383,000, which expires beginning in 2019 and through 2038. This carryforward is limited due to the changes in control of the company that took place in the years ended April 30, 2008, 2016 and 2019 in accordance with the provisions under Internal Revenue Code Section 381. In assessing the recovery of the deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. As of April 30, 2018, the Company determined it was more likely than not the deferred tax assets would not be realized and recorded a full valuation allowance. The following table reconciles the provision (benefit) for taxes to the U.S. Federal statutory tax rates: Year Ended April 30, 2018 2017 Statutory U.S. Federal Income Tax Rate 30 % 35 % State Income Taxes 5 % 5 % Change in Valuation Allowance (35 %) (40 %) Effective Income Tax Rate - % - % |
Commitments & Contingencies
Commitments & Contingencies | 12 Months Ended |
Apr. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS & CONTINGENCIES | N OTE 5. COMMITMENTS & CONTINGENCIES Corporate Office Space Effective from March 9, 2016 to July 19, 2017, the Company maintained office space in Kuala Lumpur, Malaysia provided by the Company’s then controlling shareholder at no cost to the Company. Since July 19, 2017, the Company has maintained office space in Selengor, Malaysia provided by the Company’s controlling shareholder also at no cost to the Company. Accordingly, for the years ended April 30, 2018 and 2017, the Company recognized no rent expense. |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Apr. 30, 2018 | |
Equity [Abstract] | |
STOCKHOLDERS' DEFICIT | NOTE 6. STOCKHOLDERS’ DEFICIT Preferred Stock As of April 30, 2018, the Company was authorized to issue 10,000,000 shares of preferred stock with a par value of $0.0001. No shares of preferred stock were issued or outstanding during the years ended April 30, 2018 and 2017. Common Stock As of April 30, 2018, the Company was authorized to issue 100,000,000 shares of common stock with a par value of $0.0001. During the years ended April 30, 2018 and 2017, the Company did not issue any shares of common stock. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Apr. 30, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 7. SUBSEQUENT EVENTS On June 25, 2018, the Former Affiliate, assigned to Metrowork all of its rights to its loan to the Company in the amount of $159,505 and in addition, on that date, forever waived and discharged any and all of claims that it has or may have against the Company. |
Summary of Significant Accoun14
Summary of Significant Accounting Policies and Basis of Presentation (Policies) | 12 Months Ended |
Apr. 30, 2018 | |
Accounting Policies [Abstract] | |
Nature of Business | Nature of Business Prevention Insurance.Com (the “Company”) was incorporated under the laws of the State of Nevada in 1975 as Vita Plus Industries, Inc. In March 1999, the Company sold its remaining inventory and changed its name to Prevention Insurance.Com. The Company’s business is to pursue a business combination through acquisition, or merger with, an existing company. No assurances can be given that the Company will be successful in locating or negotiating with any target company. Effective December 8, 2015, a change of control occurred with respect to the Company. Pursuant to a Securities Purchase Agreement entered into by and among the Company, Paragon Capital LP (“Paragon”), and Yik Kei Ong (“Buyer”, as nominee for certain third parties), Paragon assigned, transferred and conveyed to Buyer, as nominee, 2,109,286 shares of common stock of Company and convertible notes of the Company totaling $199,500. The convertible notes were convertible into common stock of the Company at $0.01 per share for a total of 19,950,000 shares of common stock. On the closing of the above transaction, Mr. Alan Donenfeld, the then sole officer of Paragon, resigned in all officer capacities from the Company and Yik Kei Ong was appointed interim Chief Executive Officer and Chief Financial Officer of the Company. Immediately following the closing of the transaction, the convertible notes ($199,500 in principal amount) were converted into 19,950,000 shares of common stock of the Company. After giving effect to the above described transaction, the controlling shareholders of the Company are Wooi Huat Teow, Chee Chow Teow and Ee Meng Teow. On March 9, 2016, the Board of Directors appointed Mr. Chee Chau Ng to the Company’s Board of Directors. In addition, on that same date, the Board of Directors appointed Mr. Ng as its President (Chief Executive Officer), Treasurer (Chief Financial Officer) and Secretary, replacing Mr. Yik Kei Ong who had resigned in all capacities as an officer of the Company on that date. As President of the Company, Mr. Ng will assume the role of Chairman of the Company Board of Directors. Effective May 24, 2016, Mr. Yik Kei Ong resigned as a member of the Company’s Board of Directors. On September 19, 2016, three of our shareholders, owning 15,638,084 shares of common stock, or approximately 70% of the total outstanding shares, approved an amendment to our articles of incorporation to change our corporate name from Prevention Insurance.com to AIM BIG Resources, Ltd. (the “Charter Amendment”). On November 18, 2016, we filed a Definitive Information Statement with the Securities and Exchange Commission. We mailed the Definitive Information Statement to our shareholders on November 21, 2016. In connection with the Charter Amendment, on December 20, 2016, we filed an Issuer Company-Related Action Notification Form with FINRA to receive approval of the name change. On February 3, 2017, FINRA effectively denied the corporate action request due to the prior regulatory history of two of the principal shareholders which occurred in Malaysia. The Company subsequently appealed the decision to FINRA. On March 28, 2017, FINRA re-affirmed its prior decision. Prior to the FINRA decision, an affiliate of the principal shareholders had advanced funds to the Company to cover its working capital needs. Following the FINRA decision in July 2017, this entity ceased making such advances and Metrowork Equity Sdn. Bhd. ("Metrowork"), a Malaysian company wholly owned by our sole officer and director ("Metrowork"), began advancing funds to the Company to cover its working capital needs. Effective May 30, 2018, a change of control occurred with respect to the Company. Pursuant to a Stock Purchase Agreement entered into by and among Chee Chow Teow, EE Meng Teow and Wooi Huat Teow ("Sellers") and Metrowork. Metrowork acquired from Sellers all of the shares of common stock held by the Sellers in the Company totaling 15,638,084 shares (representing 70% of the Company’s issued and outstanding shares of common stock). Our sole officer and director, Mr. Chee Chau Ng, is the sole shareholder and officer of Metrowork. |
Basis of Presentation | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents For the purpose of the statements of cash flows, all highly liquid investments with a maturity of three months or less are considered to be cash equivalents. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value of cash and cash equivalents and accounts payable approximates the carrying amount of these financial instruments due to their short maturity. |
Net Loss per Share Calculation | Net Loss per Share Calculation Basic net loss per common share ("EPS") is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. |
Stock-Based Compensation | Stock-Based Compensation The Company recognizes compensation cost based upon the fair value of stock options at the grant date using the Black-Scholes pricing model. During the years ended April 30, 2018 and 2017, the Company did not issue any shares for services nor did the Company issue any options as stock based compensation to any officers, directors, or non-employees. |
Income Taxes | Income Taxes The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. |
Uncertain Tax Positions | Uncertain Tax Positions The Company evaluates tax positions in a two-step process. The Company first determines whether it is more likely than not that a tax position will be sustained upon examination. If a tax position meets the more-likely-than-not recognition threshold it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company classifies gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as long-term liabilities in the financial statements. |
Subsequent Events | Subsequent Events The Company has evaluated all transactions from April 30, 2018 through the financial statement issuance date for subsequent event disclosure consideration. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02 “Leases” (Topic 842), which creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted. The new standard is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of the new pronouncement on its financial statements. In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing (Topic 606)”. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross verses Net) (Topic 606)”. These amendments provide additional clarification and implementation guidance on the previously issued ASU 2014-09, “Revenue from Contracts with Customers”. The amendments in ASU 2016-10 provide clarifying guidance on materiality of performance obligations; evaluating distinct performance obligations; treatment of shipping and handling costs; and determining whether an entity’s promise to grant a license provides a customer with either a right to use an entity’s intellectual property or a right to access an entity’s intellectual property. The amendments in ASU 2016-08 clarify how an entity should identify the specified good or service for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. The adoption of ASU 2016-10 and ASU 2016-08 is to coincide with an entity’s adoption of ASU 2014-09, which the Company intends to adopt for interim and annual reporting periods beginning after December 15, 2017. The Company is in the process of evaluating the standard and does not expect the adoption will have a material effect on its financial statements and disclosures. In May 2016, the FASB issued ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients”, which narrowly amended the revenue recognition guidance regarding collectability, noncash consideration, presentation of sales tax and transition and is effective during the same period as ASU 2014-09. The Company is currently evaluating the standard and does not expect the adoption will have a material effect on its financial statements and disclosures. The Company does not expect the adoption of recently issued, but not yet effective, accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Apr. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision (benefit) for taxes to the U.S. Federal statutory tax rates | Year Ended April 30, 2018 2017 Statutory U.S. Federal Income Tax Rate 30 % 35 % State Income Taxes 5 % 5 % Change in Valuation Allowance (35 %) (40 %) Effective Income Tax Rate - % - % |
Summary of Significant Accoun16
Summary of Significant Accounting Policies and Basis of Presentation (Details) - USD ($) | Dec. 08, 2015 | Apr. 30, 2018 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Income tax benefits recognized percentage | 50.00% | |
Common stock, description | On September 19, 2016, three of our shareholders, owning 15,638,084 shares of common stock, or approximately 70% of the total outstanding shares, approved an amendment to our articles of incorporation to change our corporate name from Prevention Insurance.com to AIM BIG Resources, Ltd. (the "Charter Amendment"). | |
Business acquisition, description | Effective May 30, 2018, a change of control occurred with respect to the Company. Pursuant to a Stock Purchase Agreement entered into by and among Chee Chow Teow, EE Meng Teow and Wooi Huat Teow ("Sellers") and Metrowork. Metrowork acquired from Sellers all of the shares of common stock held by the Sellers in the Company totaling 15,638,084 shares (representing 70% of the Company’s issued and outstanding shares of common stock). | |
Securities Purchase Agreement [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Conversion of common stock | 2,109,286 | |
Convertible note total | $ 199,500 | |
Convertible note conversion price per share | $ 0.01 | |
Conversion of shares of common stock | 19,950,000 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Going Concern [Abstract] | ||
Net loss | $ (118,216) | $ (125,257) |
Accumulated deficit | $ (4,850,043) | $ (4,731,827) |
Advances Due to Related Party (
Advances Due to Related Party (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Controlling shareholders one [Member] | ||
Related Party Transaction [Line Items] | ||
Shareholder advances total | $ 159,505 | |
Controlling shareholders [Member] | ||
Related Party Transaction [Line Items] | ||
Shareholder advances total | 17,828 | $ 141,677 |
Metrowork [Member] | ||
Related Party Transaction [Line Items] | ||
Shareholder advances total | 95,519 | |
Metrowork One [Member] | ||
Related Party Transaction [Line Items] | ||
Shareholder advances total | $ 16,647 |
Income Taxes (Details)
Income Taxes (Details) | 12 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Income Tax Disclosure [Abstract] | ||
Statutory U.S. Federal Income Tax Rate | 30.00% | 35.00% |
State Income Taxes | 5.00% | 5.00% |
Change in Valuation Allowance | (35.00%) | (40.00%) |
Effective Income Tax Rate |
Income Taxes (Details Textual)
Income Taxes (Details Textual) | 12 Months Ended |
Apr. 30, 2018USD ($) | |
Income Taxes (Textual) | |
Net operating loss carryforward | $ 1,383,000 |
Net operating loss carryforward, expiration period | Beginning in 2019 and through 2038. |
Stockholders' Deficit (Details)
Stockholders' Deficit (Details) - $ / shares | Apr. 30, 2018 | Apr. 30, 2017 |
Class of Stock [Line Items] | ||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Issued | 22,340,083 | 22,340,083 |
Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common Stock, Shares Issued | ||
Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock, shares issued | ||
Preferred stock, shares outstanding |
Subsequent Events (Details)
Subsequent Events (Details) | Jun. 25, 2018USD ($) |
Subsequent Event [Member] | |
Subsequent Events (Textual) | |
Shareholder advances total | $ 159,505 |