Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2017 | Aug. 14, 2017 | |
Document and Entity Information: | ||
Entity Registrant Name | Trafalgar Resources, Inc. | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Amendment Flag | false | |
Entity Central Index Key | 1,310,630 | |
Current Fiscal Year End Date | --09-30 | |
Entity Common Stock, Shares Outstanding | 5,251,309 | |
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 | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | tflg |
Trafalgar Resources, Inc. BALAN
Trafalgar Resources, Inc. BALANCE SHEETS (Unaudited) - USD ($) | Jun. 30, 2017 | Sep. 30, 2016 |
CURRENT ASSETS | ||
Cash | $ 18,844 | $ 15,191 |
Prepaid expenses | 4,895 | 2,500 |
TOTAL CURRENT ASSETS | 23,739 | 17,691 |
TOTAL ASSETS | 23,739 | 17,691 |
CURRENT LIABILITIES | ||
Accounts Payable | 632 | 632 |
Interest payable - related party | 96,939 | 77,889 |
Income taxes payable | 0 | 100 |
Note Payable - Related Party - Current | 190,000 | 160,000 |
TOTAL CURRENT LIABILITIES | 287,571 | 238,621 |
LONG-TERM LIABILITIES | ||
Note payable -- Related party (Note 2) | 30,000 | 30,000 |
TOTAL LIABILITIES | 317,571 | 268,621 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' (DEFICIT) | ||
Common stock no par value, 100,000,000 shares authorized, 5,251,309 shares issued and outstanding | 137,413 | 137,413 |
Retained (Deficit) | (431,245) | (388,343) |
TOTAL STOCKHOLDERS' (DEFICIT) | (293,832) | (250,930) |
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) | $ 23,739 | $ 17,691 |
Trafalgar Resources, Inc. Bala3
Trafalgar Resources, Inc. Balance Sheet (Parenthetical) - $ / shares | Jun. 30, 2017 | Sep. 30, 2016 |
Statement of Financial Position | ||
Common stock authorized | 100,000,000 | 100,000,000 |
Common stock no par value | $ 0 | $ 0 |
Common stock outstanding | 5,251,309 | 5,251,309 |
Common stock issued | 5,251,309 | 5,251,309 |
Trafalgar Resources, Inc. STATE
Trafalgar Resources, Inc. STATEMENTS OF OPERATIONS (unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement | ||||
Income | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of Sales | 0 | 0 | 0 | 0 |
GROSS PROFIT | 0 | 0 | 0 | 0 |
Expenses | ||||
General and Administrative | 7,439 | 3,790 | 23,852 | 25,264 |
Total Expenses | 7,439 | 3,790 | 23,852 | 25,264 |
Other Income and (Expenses) | ||||
Interest (Expense) - Related Party | (6,650) | (5,750) | (19,050) | (16,317) |
Other Income | 0 | 0 | 0 | 0 |
Total other Income and (Expense) | (6,650) | (5,750) | (19,050) | (16,317) |
(LOSS) BEFORE TAXES | (14,089) | (9,540) | (42,902) | (41,581) |
PROVISION FOR TAXES | 0 | 0 | 0 | 0 |
NET (LOSS) | $ (14,089) | $ (9,540) | $ (42,902) | $ (41,581) |
(LOSS) PER COMMON SHARE | ||||
Basic and fully diluted loss per weighted average common share outstanding | $ 0 | $ 0 | $ (0.01) | $ (0.01) |
Weighted average number of common shares outstanding | 5,251,309 | 5,251,309 | 5,251,309 | 5,251,309 |
Trafalgar Resources, Inc. STAT5
Trafalgar Resources, Inc. STATEMENTS OF CASH FLOWS (unaudited) - USD ($) | 9 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
OPERATING ACTIVITIES | ||
NET (LOSS) | $ (42,902) | $ (41,581) |
Adjustments to reconcile net (loss) to net cash (used) by operating activities: | ||
(Increase)/Decrease Prepaid Expenses | (2,395) | 3,375 |
Increase/(Decrease) Interest payable | 19,050 | 16,317 |
Increase/ (Decrease) Income taxes payable | (100) | (100) |
NET CASH (USED) BY OPERATING ACTIVITIES | (26,347) | (21,989) |
INVESTING ACTIVITY | 0 | 0 |
FINANCING ACTIVITIES | ||
Loans - Notes payable - Related party | 30,000 | 30,000 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 30,000 | 30,000 |
NET INCREASE (DECREASE) IN CASH | 3,653 | 8,011 |
CASH AT BEGINNING OF PERIOD | 15,191 | 9,941 |
CASH AT END OF PERIOD | 18,844 | 17,952 |
CASH PAID FOR TAXES | 100 | 100 |
CASH PAID FOR INTEREST | $ 0 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
Summary of Significant Accounting Policies | Note 1: Summary of Significant Accounting Policies Organization and Operation Trafalgar Resources, Inc. (the "Company") was incorporated under the laws of the State of Utah on October 25, 1972. The Company has not commenced operations that have resulted in significant revenue and the Company's efforts have been devoted primarily to activities related to raising capital and attempting to acquire an operating entity. Unaudited Information The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q, Article 8 of Regulation S-X of the United States Securities and Exchange Commission. Accordingly, they do not include all of the information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to present fairly the financial position and results of operations for the periods presented have been made. These financial statements for the three months ending June 30, 2017, should be read in conjunction with the accompanying notes and with the historical financial information of the Company, and are not necessarily indicative of the results that may be expected for the year ending September 30, 2017. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. Use of estimates These financial statements are prepared in conformity with accounting principles generally accepted in the United States of America and require that management make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. The use of estimates and assumptions may also affect the reported amounts of revenues and expenses. Actual results could differ from those estimates or assumptions. Net loss per share of common stock The loss per share of common stock is computed by dividing the net loss during the period presented by the weighted average number of shares outstanding during that same period. The Company has no potentially dilutive securities, such as convertible preferred stock, options, or warrants, outstanding during the periods presented. Accordingly, basic and dilutive loss per common share are the same. Income taxes We account for income taxes in accordance with FASB ASC 740-10-05, Accounting for Income Taxes. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets will be reflected on the balance sheet when it is determined that it is more likely than not that the asset will be realized. A valuation allowance has currently been recorded to reduce our deferred tax asset to $0. Revenue recognition We will recognize revenue in accordance with FASB ASC 605, Revenue Recognition. Under FASB ASC 605, revenue is recognized at the point of passage to the customer of title and risk of loss, when there is persuasive evidence of an arrangement, the sales price is determinable, and collection of the resulting receivable is reasonably assured. We will recognize revenue as services are provided. Revenues will be reflected net of coupon discounts. Fair value of financial instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties. The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, and other current assets, accounts payable, taxes payable, accrued expenses and other current liabilities, approximate their fair values because of the short maturity of these instruments. Going concern As shown in the accompanying financial statements, the Company had a working capital deficit of $263,832 and a retained deficit of $431,245 incurred through June 30, 2017 which raise substantial doubt about the Companys ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence. Management intends to seek new capital from a related party to provide needed funds. New accounting pronouncements The Company has reviewed Accounting Standards Updates (ASU) through ASU No. 2017-08, which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
Related Party Transactions | NOTE 2: RELATED PARTY TRANSACTIONS At June 30, 2017 the Company owed $96,939 of interest and $220,000 to its President. Note 1 is for $10,000 and bears interest of 4.5% per year. Note 2 is for $10,000and bears interest of 4.5% per year and $10,450 in interest and principal was due February 28, 2011. Note 3 is for $20,000 and bears interest of 4.5% per year. $900 in interest is due on January 15, 2011, 2012, and 2013. $20,900 in interest and principal was due January 15, 2014. Note 1, 2 and 3 are in default resulting in an 18% default rate of interest accruing. Note 4 is for $10,000 and bears interest of 4.5% per year. Interest of $450 was due on May 7, 2011, 2012, 2013, and 2014. Interest and principal of $10,450 was due May 7, 2015. Note 4 is in default resulting in a 14% default rate of interest accruing. Note 5 is for $20,000 and bears interest of 4.75% per year. Interest of $950 was due on February 1, 2012, 2013, and 2014. Interest and principal of $20,950 was due on February 1, 2015. Note 5 is in default resulting in a 12% default rate of interest accruing. Note 6 is for $20,000 and bears interest of 8.0% per year. Interest of $1,600 was due on February 1, 2013. Interest and principal of $21,600 was due on February 1, 2014. Note 6 is in default resulting in a 12% default rate of interest. Note 7 is for $20,000 and bears interest of 8.0% per year. Interest of $1,600 was due on March 1, 2014. Interest and principal of $21,600 was due on March 1, 2015. Note 7 is in default resulting in a 12% default rate of interest accruing. Note 8 is for $20,000 and bears interest of 8.0% per year. Interest of $1,600 was due February 3, 2015. Interest and principal of $21,600 was due on February 3, 2016. Note 8 is in default resulting in a 12% default rate of interest accruing. Note 9 is for $30,000 and bears interest of 8.0% per year. Interest of $2,400 is due December 12, 2016. Interest and principal of $32,400 is due December 12, 2016. Note 9 is in default resulting in a 12% default rate of interest accruing. Note 10 is for $30,000 and bears interest of 8% per year. Interest of $2,400 was due January 5, 2017. Interest and principal of $32,400 is due January 5, 2018. Note 11 is for $30,000 and bears interest of 8.0%. Interest of $2,400 is due December 27, 2017. Interest and principal of $32,400 is due December 27, 2018. The Company accrued $6,650 and $5,750 in interest expense during the three month periods ended June 30, 2017 and 2016, respectively. The Company accrued $19,050 and $16,317 during the nine month periods ended June 30, 2017 and 2016, respectively. Related party notes payable are due as follows: Year ending September 30, 2017 $160,000 2018 $30,000 2019 $30,000 |
Income Taxes
Income Taxes | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
Income Taxes | NOTE 3: INCOME TAXES Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Income tax periods 2014, 2015 and 2016 are open for examination by taxing authorities. The Company complies with the provisions of uncertain tax positions as addressed in ASC 740-10-65-1. As a result of the implementation of ASC 740-10-65-1, the Company recognized approximately no increase in the liability for unrecognized tax benefits. The Company has no tax position at June 30, 2017 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the periods presented. The Company had no accruals for interest and penalties at June 30, 2017. The Companys utilization of any net operating loss carry forward may be unlikely as a result of its limited activities. Tax years 2014 through 2016 are open to examination by the tax authorities. The income tax expense (benefit) for the nine months ended June 30, 2017 and 2016 differs from the amount computed using the federal statutory rates as follows: Nine Months Ended June 30, 2017 Nine Months Ended June 30, 2016 Income tax expense (benefit) at 35% (15,016) (14,513) Valuation allowance 15,016 14,513 Total 0 0 Deferred tax assets as of June 30, 2017 and September 30, 2016, respectively, are comprised primarily of the following: June 30, 2017 September 30, 2016 Net Operating Loss Carryforward 85,587 73,500 Related party interest 31,601 27,260 Valuation allowance (115,188) (100,760) Total deferred tax asset $ 0 $ 0 At June 30, 2017, the Company had a net operating loss carry forward of approximately $252,000 that may be offset against future taxable income through 2036. These losses will start to expire in the year 2017 through 2036. No tax benefit has been reported in the financial statements because the Company believes that it is more likely than not that the carryforwards will expire unused. The utilization of future losses may be limited under various provisions of the Internal Revenue Code pertaining to continuity of business operations limits and substantial changes in ownership. Accordingly, the potential tax benefits of the loss carryforwards are offset by a valuation allowance of the same amount. The valuation allowance increased during the period ended June 30, 2017 by approximately $4,931. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
Subsequent Events | Note 4: SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date and through the date the financial statements were issued. During this period the Company did not have any material recognizable subsequent events. |
Summary of Significant Accoun10
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Unaudited Information | Unaudited Information The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q, Article 8 of Regulation S-X of the United States Securities and Exchange Commission. Accordingly, they do not include all of the information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to present fairly the financial position and results of operations for the periods presented have been made. These financial statements for the three months ending June 30, 2017, should be read in conjunction with the accompanying notes and with the historical financial information of the Company, and are not necessarily indicative of the results that may be expected for the year ending September 30, 2017. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. |
Use of Estimates | Use of estimates These financial statements are prepared in conformity with accounting principles generally accepted in the United States of America and require that management make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. The use of estimates and assumptions may also affect the reported amounts of revenues and expenses. Actual results could differ from those estimates or assumptions. |
Net Loss Per Share of Common Stock | Net loss per share of common stock The loss per share of common stock is computed by dividing the net loss during the period presented by the weighted average number of shares outstanding during that same period. The Company has no potentially dilutive securities, such as convertible preferred stock, options, or warrants, outstanding during the periods presented. Accordingly, basic and dilutive loss per common share are the same. |
Income Taxes | Income taxes We account for income taxes in accordance with FASB ASC 740-10-05, Accounting for Income Taxes. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets will be reflected on the balance sheet when it is determined that it is more likely than not that the asset will be realized. A valuation allowance has currently been recorded to reduce our deferred tax asset to $0. |
Revenue Recognition | Revenue recognition We will recognize revenue in accordance with FASB ASC 605, Revenue Recognition. Under FASB ASC 605, revenue is recognized at the point of passage to the customer of title and risk of loss, when there is persuasive evidence of an arrangement, the sales price is determinable, and collection of the resulting receivable is reasonably assured. We will recognize revenue as services are provided. Revenues will be reflected net of coupon discounts. |
Fair Value of Financial Instruments | Fair value of financial instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties. The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, and other current assets, accounts payable, taxes payable, accrued expenses and other current liabilities, approximate their fair values because of the short maturity of these instruments. |
Going Concern | Going concern As shown in the accompanying financial statements, the Company had a working capital deficit of $263,832 and a retained deficit of $431,245 incurred through June 30, 2017 which raise substantial doubt about the Companys ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence. Management intends to seek new capital from a related party to provide needed funds. |
New Accounting Pronouncements | New accounting pronouncements The Company has reviewed Accounting Standards Updates (ASU) through ASU No. 2017-08, which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Jun. 30, 2017 | |
Tables/Schedules | |
Schedule of Long-term Related Notes Payable | 2017 $160,000 2018 $30,000 2019 $30,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Jun. 30, 2017 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | Nine Months Ended June 30, 2017 Nine Months Ended June 30, 2016 Income tax expense (benefit) at 35% (15,016) (14,513) Valuation allowance 15,016 14,513 Total 0 0 |
Schedule of Deferred Tax Assets and Liabilities | June 30, 2017 September 30, 2016 Net Operating Loss Carryforward 85,587 73,500 Related party interest 31,601 27,260 Valuation allowance (115,188) (100,760) Total deferred tax asset $ 0 $ 0 |
Summary of Significant Accoun13
Summary of Significant Accounting Policies (Details) - USD ($) | Jun. 30, 2017 | Sep. 30, 2016 |
Details | ||
Deferred Tax Assets, Valuation Allowance, Current | $ 0 | |
Working Capital Deficit | 263,832 | |
Retained (Deficit) | $ 431,245 | $ 388,343 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||||||||||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 27, 2018 | Jan. 05, 2018 | Dec. 27, 2017 | Jan. 05, 2017 | Dec. 12, 2016 | Sep. 30, 2016 | Feb. 03, 2016 | May 07, 2015 | Mar. 01, 2015 | Feb. 03, 2015 | Feb. 01, 2015 | Mar. 01, 2014 | Feb. 01, 2014 | Jan. 15, 2014 | Feb. 01, 2013 | Feb. 28, 2011 | |
Details | ||||||||||||||||||||
Interest payable - related party | $ 96,939 | $ 96,939 | $ 77,889 | |||||||||||||||||
Notes Payable, Related Parties | $ 220,000 | $ 220,000 | ||||||||||||||||||
Note 1 amount | $ 10,000 | |||||||||||||||||||
Note 1 interest rate | 4.50% | 4.50% | ||||||||||||||||||
Note 2 amount | 10,000 | |||||||||||||||||||
Note 2 interest rate | 4.50% | 4.50% | ||||||||||||||||||
Note 2 Principal and Interest | 10,450 | |||||||||||||||||||
Note 3 amount | $ 20,000 | |||||||||||||||||||
Note 3 interest rate | 4.50% | 4.50% | ||||||||||||||||||
Note 3 interest | $ 900 | $ 900 | ||||||||||||||||||
Note 3 principal and interest | $ 20,900 | |||||||||||||||||||
Note 1 Note 2 and Note 3 default interest rate | 18.00% | |||||||||||||||||||
Note 4 amount | $ 10,000 | $ 10,000 | ||||||||||||||||||
Note 4 interest rate | 4.50% | 4.50% | ||||||||||||||||||
Note 4 interest | $ 450 | $ 450 | ||||||||||||||||||
Note 4 principal and interest | $ 10,450 | |||||||||||||||||||
Note 4 Default Interest Rate | 14.00% | |||||||||||||||||||
Note 5 amount | $ 20,000 | $ 20,000 | ||||||||||||||||||
Note 5 interest rate | 4.75% | 4.75% | ||||||||||||||||||
Note 5 interest | $ 950 | $ 950 | ||||||||||||||||||
Note 5 principal and interest | $ 20,950 | |||||||||||||||||||
Note 5 Default Interest Rate | 12.00% | |||||||||||||||||||
Note 6 amount | $ 20,000 | $ 20,000 | ||||||||||||||||||
Note 6 interest rate | 8.00% | 8.00% | ||||||||||||||||||
Note 6 interest | $ 1,600 | |||||||||||||||||||
Note 6 principal and interest | $ 21,600 | |||||||||||||||||||
Note 6 Default Interest Rate | 12.00% | |||||||||||||||||||
Note 7 amount | $ 20,000 | $ 20,000 | ||||||||||||||||||
Note 7 interest rate | 8.00% | 8.00% | ||||||||||||||||||
Note 7 interest | $ 1,600 | |||||||||||||||||||
Note 7 principal and interest | $ 21,600 | |||||||||||||||||||
Note 7 Default Interest Rate | 12.00% | |||||||||||||||||||
Note 8 amount | $ 20,000 | $ 20,000 | ||||||||||||||||||
Note 8 interest rate | 8.00% | 8.00% | ||||||||||||||||||
Note 8 interest | $ 1,600 | |||||||||||||||||||
Note 8 principal and interest | $ 21,600 | |||||||||||||||||||
Note 8 Default Interest Rate | 12.00% | |||||||||||||||||||
Note 9 amount | $ 30,000 | $ 30,000 | ||||||||||||||||||
Note 9 Interest Rate | 8.00% | |||||||||||||||||||
Note 9 Interest | $ 2,400 | |||||||||||||||||||
Note 9 Principal and Interest | $ 32,400 | |||||||||||||||||||
Note 9 Default Interest Rate | 12.00% | |||||||||||||||||||
Note 10 Amount | 30,000 | $ 30,000 | ||||||||||||||||||
Note 10 Interest Rate | 8.00% | |||||||||||||||||||
Note 10 Interest | $ 2,400 | |||||||||||||||||||
Note 10 Principal And Interest | $ 32,400 | |||||||||||||||||||
Note 11 Amount | 30,000 | $ 30,000 | ||||||||||||||||||
Note 11 Interest Rate | 8.00% | |||||||||||||||||||
Note 11 Interest | $ 2,400 | |||||||||||||||||||
Note 11 Principal and Interest | $ 32,400 | |||||||||||||||||||
Interest (Expense) - Related Party | 6,650 | $ 5,750 | $ 19,050 | $ 16,317 | ||||||||||||||||
Long-term related note payable 2017 | 160,000 | 160,000 | ||||||||||||||||||
Long-term related note payable 2018 | 30,000 | 30,000 | ||||||||||||||||||
Long Term Related Note Payable 2019 | $ 30,000 | $ 30,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Sep. 30, 2016 | |
Details | |||||||
Income Tax Expense (benefit) | $ (15,016) | $ (14,513) | |||||
Valuation allowance | 15,016 | 14,513 | |||||
PROVISION FOR TAXES | $ 0 | $ 0 | 0 | $ 0 | $ 0 | $ 0 | |
Net Operating Loss Carryforward | 85,587 | 85,587 | 85,587 | $ 73,500 | |||
Related Party Interest | 31,601 | 31,601 | 31,601 | 27,260 | |||
Valutation allowance | (115,188) | (115,188) | (115,188) | $ (100,760) | |||
NOL Carryforward | 252,000 | ||||||
Change in valuation allowance | $ 4,931 | $ 4,931 | $ 4,931 |