Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2013 |
Accounting Policies [Abstract] | ' |
Cash and cash equivalents | ' |
Cash and cash equivalents |
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The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents. |
Financial Instruments | ' |
Financial Instruments |
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The carrying value of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and due to related parties, as reported in the accompanying balance sheets, approximates fair value. |
Long-Lived Assets | ' |
Long-Lived Assets |
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In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that may suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value. |
Estimates | ' |
Estimates |
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The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. |
Revenue Recognition | ' |
Revenue Recognition |
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Revenue is recognized when products are shipped, which is when title and risk of loss pass to the customer. The Company classifies selling discounts and rebates, if any, as a reduction of revenue. |
Inventory | ' |
Inventory |
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Inventory comprises packaged healthy snacks ready for final sale, and is stated at the lower of cost or market value. Cost is determined by the first-in, first out method. |
Property and Equipment | ' |
Property and Equipment |
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Property and equipment are stated at cost and depreciated on the straight line method over the estimated life of the asset, which is 3-7 years. |
Websites Development Cost and License to produce drink | ' |
Websites Development Cost and License to produce drink |
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The Company has adopted the provisions of FASB Accounting Standards Codification No. 350 Intangible-Goodwill and Other. Costs incurred in the planning state of a websites are expensed, while costs incurred in the development stage are capitalized and amortized over the estimated three year life of the asset. The drink license is also being amortized over three years. |
Income Taxes | ' |
Income Taxes |
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The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”) Income Taxes. Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. |
Going Concern | ' |
Going Concern |
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The financial statements have been prepared assuming that the Company will continue as a going concern. The Company had a net loss of $2,104,360 during the three months ended September 30, 2013. Cash used in operations for the three months approximated $41,942 This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. |
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Management believes that the actions presently being taken and the success of future operations will be sufficient to enable the Company to continue as a going concern. |
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However, there can be no assurance that the raising of equity will be successful. Failure to achieve the needed equity funding could have a material adverse effect on the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Stock-Based Compensation | ' |
Stock-Based Compensation |
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In December 2004, the FASB issued FASB Accounting Standards Codification No. 718, Compensation – Stock Compensation. Under FASB Accounting Standards Codification No. 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. The Company applies this statement prospectively. |
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Equity instruments (“instruments”) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by FASB Accounting Standards Codification No. 718. FASB Accounting Standards Codification No. 505, Equity Based Payments to Non-Employees defines the measurement date and recognition period for such instruments. In general, the measurement date is when either a (a) performance commitment, as defined, is reached or (b) the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the FASB Accounting Standards Codification. |
Basic and Diluted Net Loss per Common Share | ' |
Basic and Diluted Net Loss per Common Share |
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Net Loss per Common Share is computed pursuant to FASB Accounting Standards Codification No. 260, Earnings per Share. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed in the same way as for Basic net loss. |
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There are no warrants outstanding as of September 30, 2013. |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements |
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There have been no recent accounting pronouncements of changes in accounting pronouncements that impacted the three months ended September 30, 2013 and year end June 30, 2013, or which are expected to impact future periods, that were not already adopted and disclosed in prior periods. |