Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Mar. 31, 2018 | May 03, 2018 | |
Document and Entity Information: | ||
Entity Registrant Name | Trafalgar Resources, Inc. | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2018 | |
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 | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | tflg |
Trafalgar Resources, Inc. BALAN
Trafalgar Resources, Inc. BALANCE SHEETS (Unaudited) - USD ($) | Mar. 31, 2018 | Sep. 30, 2017 |
CURRENT ASSETS | ||
Cash | $ 22,070 | $ 15,140 |
Prepaid Expenses | 1,667 | 3,333 |
TOTAL CURRENT ASSETS | 23,737 | 18,473 |
TOTAL ASSETS | 23,737 | 18,473 |
CURRENT LIABILITIES | ||
Accounts payable | 632 | 632 |
Interest payable - related party | 116,889 | 103,589 |
Income taxes payable | 0 | 100 |
Notes Payable - Related Party - Current | 220,000 | 190,000 |
TOTAL CURRENT LIABILITIES | 337,521 | 294,321 |
LONG-TERM LIABILITIES | ||
Notes payable -- Related party | 20,000 | 30,000 |
TOTAL LIABILITIES | 357,521 | 324,321 |
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) | (471,197) | (443,261) |
TOTAL STOCKHOLDERS' (DEFICIT) | (333,784) | (305,848) |
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) | $ 23,737 | $ 18,473 |
Trafalgar Resources, Inc. Bala3
Trafalgar Resources, Inc. Balance Sheet (Parenthetical) - $ / shares | Mar. 31, 2018 | Sep. 30, 2017 |
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 | 6 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Income Statement | ||||
Income | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of Sales | 0 | 0 | 0 | 0 |
GROSS PROFIT | 0 | 0 | 0 | 0 |
Expenses | ||||
General and Administrative | 8,636 | 5,547 | 14,636 | 16,412 |
Total Expenses | 8,636 | 5,547 | 14,636 | 16,412 |
Other Income and (Expenses) | ||||
Interest (Expense) | 0 | 0 | 0 | 0 |
Interest (Expense) - Related Party | (6,650) | (6,650) | (13,300) | (12,401) |
Other Income | 0 | 0 | 0 | 0 |
Total other Income and (Expense) | (6,650) | (6,650) | (13,300) | (12,401) |
(LOSS) BEFORE TAXES | (15,286) | (12,197) | (27,936) | (28,813) |
PROVISION FOR TAXES | 0 | 0 | 0 | 0 |
NET (LOSS) | $ (15,286) | $ (12,197) | $ (27,936) | $ (28,813) |
(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 ($) | 6 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
OPERATING ACTIVITIES | ||
NET (LOSS) | $ (27,936) | $ (28,813) |
Adjustments to reconcile net (loss) to net cash (used) by operating activities: | ||
(Increase)/Decrease Prepaid Expenses | 1,666 | (5,833) |
Increase/(Decrease) Interest payable | 13,300 | 12,400 |
Increase/(Decrease) Income taxes payable | (100) | (100) |
NET CASH (USED) BY OPERATING ACTIVITIES | (13,070) | (22,346) |
FINANCING ACTIVITIES | ||
Loans - Notes payable - Related party | 20,000 | 30,000 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 20,000 | 30,000 |
NET INCREASE (DECREASE) IN CASH | 6,930 | 7,654 |
CASH AT BEGINNING OF PERIOD | 15,140 | 15,191 |
CASH AT END OF PERIOD | 22,070 | 22,845 |
CASH PAID FOR TAXES | 100 | 100 |
CASH PAID FOR INTEREST | $ 0 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Mar. 31, 2018 | |
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 six months ending March 31, 2018, 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, 2018. 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. 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 deficit working capital and a retained deficit incurred through March 31, 2018 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. 2018-05, 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 | 6 Months Ended |
Mar. 31, 2018 | |
Notes | |
Related Party Transactions | NOTE 2: RELATED PARTY TRANSACTIONS At March 31, 2018 the Company owed $116,889 of interest and $240,000 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, 2015. 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 was due January 5, 2018. Note 10 is in default resulting in a 12% default rate of interest accruing. Note 11 is for $30,000 and bears interest of 8.0%. Interest of $2,400 was due December 27, 2017. Interest and principal of $32,400 is due December 27, 2018. Note 12 is for $20,000 and bears interest of 8.0%. Interest of $1,600 is due March 8, 2019. Interest and principal of $21,600 is due March 9, 2020. Related party notes payable are due as follows: In addition to the $190,000 in related party notes now due or past due, additional related party notes are due for the Year ending September 30, 2019 $30,000 2020 $20,000 |
Income Taxes
Income Taxes | 6 Months Ended |
Mar. 31, 2018 | |
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 2015, 2016 and 2017 are open for examination by taxing authorities. The income tax expense (benefit) for the period ended March 31, 2018 differs from the amount computed using the federal statutory rates as follows: Six Months Ended March 31, 2018 Six Months Ended March 31, 2017 Income tax expense (benefit) at Federal tax rate of 21% for 2018 and 35% for 2017 (7,638) (10,085) Effect of rate changes on deferred tax assets and valuation allowance 3,498 0 Valuation Allowance 4,140 10,085 0 0 On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the Tax Act) was enacted into law including a one-time mandatory transition tax on accumulated foreign earnings and a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. We are required to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, remeasuring our U.S. deferred tax assets and liabilities as well as reassessing the net realizability of our deferred tax assets and liabilities. The Company does not have any foreign earnings and therefore, we do not anticipate the impact of a transition tax. We have remeasured our U.S. deferred tax assets at a statutory income tax rate of 21%. Since the Tax Act was passed late in the fourth quarter of 2017, and ongoing guidance and accounting interpretation are expected over the next 12 months, we consider the accounting of any transition tax, deferred tax re-measurements, and other items to be incomplete due to the forthcoming guidance and our ongoing analysis of final year-end data and tax positions. We expect to complete our analysis within the measurement period in accordance with SAB 118. Deferred tax assets for the quarter ending March 31, 2018 are comprised primarily of the following: March 31, 2018 Net Operating Loss Carryforward 53,288 Related party interest 24,546 Valuation allowance (77,834) Total deferred tax asset $ 0 At March 31, 2018, the Companys deferred tax assets were made up of approximately $117,000 in accrued related party interest and a net operating loss carry forward of approximately $254,000 that may be offset against future taxable income through 2036. These losses will start to expire in the year 2016 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 March 31, 2018 by approximately $4,140. Deferred tax assets related to operating loss carryforwards and related party interest decreased by approximately $35,600 and $16,400, respectively, due to the Tax Act. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Mar. 31, 2018 | |
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) | 6 Months Ended |
Mar. 31, 2018 | |
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 six months ending March 31, 2018, 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, 2018. |
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. |
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 deficit working capital and a retained deficit incurred through March 31, 2018 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. 2018-05, 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) | 6 Months Ended |
Mar. 31, 2018 | |
Tables/Schedules | |
Schedule of Long-term Related Notes Payable | 2019 $30,000 2020 $20,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Mar. 31, 2018 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | Six Months Ended March 31, 2018 Six Months Ended March 31, 2017 Income tax expense (benefit) at Federal tax rate of 21% for 2018 and 35% for 2017 (7,638) (10,085) Effect of rate changes on deferred tax assets and valuation allowance 3,498 0 Valuation Allowance 4,140 10,085 0 0 |
Schedule of Deferred Tax Assets and Liabilities | March 31, 2018 Net Operating Loss Carryforward 53,288 Related party interest 24,546 Valuation allowance (77,834) Total deferred tax asset $ 0 |
Summary of Significant Accoun13
Summary of Significant Accounting Policies (Details) | Mar. 31, 2018USD ($) |
Details | |
Deferred Tax Assets, Valuation Allowance, Current | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 6 Months Ended | |||||||||||||||||
Mar. 31, 2018 | Mar. 09, 2020 | Mar. 08, 2019 | Dec. 27, 2018 | Jan. 05, 2018 | Dec. 27, 2017 | Sep. 30, 2017 | Jan. 05, 2017 | Dec. 12, 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 | $ 116,889 | $ 103,589 | ||||||||||||||||
Notes Payable, Related Parties | $ 240,000 | |||||||||||||||||
Note 1 amount | $ 10,000 | |||||||||||||||||
Note 1 interest rate | 4.50% | |||||||||||||||||
Note 2 amount | 10,000 | |||||||||||||||||
Note 2 interest rate | 4.50% | |||||||||||||||||
Note 2 Principal and Interest | 10,450 | |||||||||||||||||
Note 3 amount | $ 20,000 | |||||||||||||||||
Note 3 interest rate | 4.50% | |||||||||||||||||
Note 3 interest | $ 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 | |||||||||||||||||
Note 4 interest rate | 4.50% | |||||||||||||||||
Note 4 interest | $ 450 | |||||||||||||||||
Note 4 principal and interest | $ 10,450 | |||||||||||||||||
Note 4 Default Interest Rate | 14.00% | |||||||||||||||||
Note 5 amount | $ 20,000 | |||||||||||||||||
Note 5 interest rate | 4.75% | |||||||||||||||||
Note 5 interest | $ 950 | |||||||||||||||||
Note 5 principal and interest | $ 20,950 | |||||||||||||||||
Note 5 Default Interest Rate | 12.00% | |||||||||||||||||
Note 6 amount | $ 20,000 | |||||||||||||||||
Note 6 interest rate | 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 | |||||||||||||||||
Note 7 interest rate | 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 | |||||||||||||||||
Note 8 interest rate | 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 | |||||||||||||||||
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 | |||||||||||||||||
Note 10 Interest Rate | 8.00% | |||||||||||||||||
Note 10 Interest | $ 2,400 | |||||||||||||||||
Note 10 Principal And Interest | $ 32,400 | |||||||||||||||||
Note 10 Default Interest Rate | 12.00% | |||||||||||||||||
Note 11 Amount | $ 30,000 | |||||||||||||||||
Note 11 Interest Rate | 8.00% | |||||||||||||||||
Note 11 Interest | $ 2,400 | |||||||||||||||||
Note 11 Principal and Interest | $ 32,400 | |||||||||||||||||
Note 12 Amount | $ 20,000 | |||||||||||||||||
Note 12 Interest Rate | 8.00% | |||||||||||||||||
Note 12 Interest | $ 1,600 | |||||||||||||||||
Note 12 Principal and Interest | $ 21,600 | |||||||||||||||||
Long-term related note payable 2018 | $ 190,000 | |||||||||||||||||
Long-term related note payable 2019 | 30,000 | |||||||||||||||||
Long Term Related Note Payable 2020 | $ 20,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 6 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Details | ||
Income Tax Expense (benefit) | $ (7,638) | $ (10,085) |
Effect of rate changes | 3,498 | 0 |
Valutation allowance | 4,140 | $ 10,085 |
Net Operating Loss Carryforward | 53,288 | |
Related Party Interest | 24,546 | |
Change in valuation allowance | (77,834) | |
related party interest change in amount | 16,400 | |
Operating Loss Carryforwards, Valuation Allowance | 254,000 | |
Deferred Tax Assets operating loss carryforwards change in amount | $ 35,600 |