| NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The financial statements have been prepared
on a historical cost basis to reflect the financial position and results of operations of the Company in accordance with the accounting
principles generally accepted in the United States of America (“US GAAP”). USE OF ESTIMATES The preparation of the Company’s
financial statements in conformity with generally accepted accounting principles of the United States of America 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. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information
available when the financial statements are prepared. Actual results could differ from those estimates. CERTAIN RISKS AND UNCERTAINTIES The Company relies on cloud based hosting
through a global accredited hosting provider. Management believes that alternate sources are available; however, disruption or
termination of this relationship could adversely affect our operating results in the near-term. SEGMENT REPORTING Operating segments are defined as components
of an enterprise about which separate financial information is available that is evaluated regularly by our chief operating decision
maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company is focused on mobile commerce
enablement via our enhanced platform built in 2017, and offered on a Platform-as-a-Service (“PaaS”) basis, and the
company’s e-wallet initiative. We identify our reportable segments as those customer groups that represent more than 10%
of our combined revenue or gross profit or loss of all reported operating segments. We manage our business on the basis of the
one reportable segment e-commerce solutions and service provider. The accounting policies for segment reporting are the same as
for the Company as a whole. We do not segregate assets by segments since our chief operating decision maker, or decision making
group, does not use assets as a basis to evaluate a segment’s performance. IDENTIFIABLE INTANGIBLE ASSETS Identifiable intangible assets are recorded
at cost and are amortized over 3-10 years. Similar to tangible property and equipment, the Company periodically evaluates identifiable
intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. IMPAIRMENT OF LONG-LIVED ASSETS The Company classifies its long-lived assets
into: (i) computer and office equipment; (ii) furniture and fixtures, (iii) leasehold improvements, and (iv) finite – lived
intangible assets. Long-lived assets held and used by the Company
are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not
be fully recoverable. It is possible that these assets could become impaired as a result of technology, economy or other industry
changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares
undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the
long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent
that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted
cash flow models, relief from royalty income approach, quoted market values and third-party independent appraisals, as considered
necessary. The Company makes various assumptions and estimates
regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions
and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They
can be affected by various factors, including external factors such as industry and economic trends, and internal factors such
as the Company’s business strategy and its forecasts for specific market expansion. ACCOUNTS RECEIVABLE AND CONCENTRATION OF RISK Accounts receivable, net is stated at the amount
the Company expects to collect, or the net realizable value. The Company provides a provision for allowances that includes returns,
allowances and doubtful accounts equal to the estimated uncollectible amounts. The Company estimates its provision for allowances
based on historical collection experience and a review of the current status of trade accounts receivable. It is reasonably possible
that the Company’s estimate of the provision for allowances will change. The Company’s CreateApp business effective
1 September 2015 is based on a nil accounts receivable balance as subscriptions are collected on a usage basis. As of December 31, 2017, sales included a concentration
from a major customer although accounts receivable had a nil balance. CASH AND CASH EQUIVALENTS Cash and cash equivalents represent
cash on hand, demand deposits, and other short-term highly liquid investments placed with banks, which have original maturities
of three months or less and are readily convertible to known amounts of cash. EARNINGS PER SHARE Basic (loss) earnings per share is based on
the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding
during the period are included in diluted earnings per share. FASB Accounting Standard Codification Topic
260 (“ASC 260”), “Earnings Per Share,” requires that employee equity share options, non-vested shares and
similar equity instruments granted to employees be treated as potential common shares in computing diluted earnings per share.
Diluted earnings per share should be based on the actual number of options or shares granted and not yet forfeited, unless doing
so would be anti-dilutive. The Company uses the “treasury stock” method for equity instruments granted in share-based
payment transactions provided in ASC 260 to determine diluted earnings per share. Antidilutive securities represent potentially
dilutive securities which are excluded from the computation of diluted earnings or loss per share as their impact was antidilutive. REVENUE RECOGNITION The
Company s CreateApp Platform operates as a Platform as a
Service ( PaaS )
by providing the infrastructure allowing users to develop their own applications and IT services, which users can access anywhere
via a web or desktop browser. The Company recognizes revenue on a pay to use subscription basis when our customers use our platform.
For the territories licensed to our distributors and on a white label basis, we derive royalty income from the end user use of
our platform on a white label basis. The Company maintains the CreateApp software
platform at its own cost. Any enhancements and minor customization COST OF SERVICE Cost of service results from 1) sales
commissions to resellers 2) sourcing technical and engineering personnel in Asia on an hourly or project basis in order to customize
multi-site SMB mobile apps and medium to large scale customized apps. 3) cloud based hosting services. INCOME TAXES The Company uses the asset and liability
method of accounting for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Income
Taxes” (“ASC 740”). Under this method, income tax expense is recognized as the amount of: (i) taxes payable or
refundable for the current year and (ii) future tax consequences attributable to differences between 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 which those temporary differences are expected to be recovered
or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations
in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if
based on the weight of available evidence it is more likely than not that some portion or all of the deferred tax assets will not
be realized. RECENT ACCOUNTING PRONOUNCEMENTS In January 2017, the FASB has issued Accounting
Standards Update (“ASU”) No. 2017-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement
of Financial Assets and Financial Liabilities. The new guidance is intended to improve the recognition and measurement of financial
instruments. The new guidance makes targeted improvements to existing U.S. GAAP by: (1) requiring equity investments (except those
accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair
value with changes in fair value recognized in net income. Requiring public business entities to use the exit price notion when
measuring the fair value of financial instruments for disclosure purposes; (2) Requiring separate presentation of financial assets
and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the
balance sheet or the accompanying notes to the financial statements; (3) Eliminating the requirement for public business entities
to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial
instruments measured at amortized cost on the balance sheet; and. (4) Requiring a reporting organization to present separately
in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific
credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value
in accordance with the fair value option for financial instruments. The new guidance is effective for public companies for fiscal
years beginning after December 15, 2017, including interim periods within those fiscal years. The Company does not anticipate that
this adoption will have a significant impact on its financial position, results of operations, or cash flows. In February 2017, the FASB issued ASU 2017-02,
Leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). ASU 2017-02 requires lessees
to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. The amendments in this ASU are effective
for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early application is permitted
for all entities. ASU 2017-02 requires a modified retrospective approach for all leases existing at, or entered into after, the
date of initial application, with an option to elect to use certain transition relief. he Company does not anticipate that this
adoption will have a significant impact on its financial position, results of operations, or cash flows. In April 2017, the FASB released ASU 2017-09,
Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The ASU includes multiple
provisions intended to simplify various aspects of the accounting for share-based payments. While aimed at reducing the cost and
complexity of the accounting for share-based payments, the amendments are expected to significantly impact net income, EPS, and
the statement of cash flows. Implementation and administration may present challenges for companies with significant share-based
payment activities. The ASU is effective for public companies in annual periods beginning after December 15, 2017, and interim
periods within those years. The Company does not anticipate that this adoption will have a significant impact on its financial
position, results of operations, or cash flows. In April 2017, FASB issued Accounting Standards
Update No. 2017-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. The amendments
clarify the following two aspects of Topic 606: (a) identifying performance obligations; and (b) the licensing implementation guidance.
The amendments do not change the core principle of the guidance in Topic 606. The effective date and transition requirements for
the amendments are the same as the effective date and transition requirements in Topic 606. Public entities should apply the amendments
for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein (i.e., January 1, 2018,
for a calendar year entity). Early application for public entities is permitted only as of annual reporting periods beginning after
December 15, 2017, including interim reporting periods within that reporting period. The Company does not anticipate that this
adoption will have a significant impact on its financial position, results of operations, or cash flows. In May 2017, the FASB issued ASU No. 2017-11
Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815); Rescission of SEC Guidance Because of Accounting Standards
Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2017 EITF Meeting, which is rescinding certain SEC
Staff Observer comments that are codified in Topic 605, Revenue Recognition, and Topic 932, Extractive Activities—Oil and
Gas, effective upon adoption of Topic 606. The Company does not anticipate that this adoption will have a significant impact on
its financial position, results of operations, or cash flows. In May 2017, FASB issued ASU No. 2017-12—Revenue
from Contracts with Customers (Topic 606); Narrow-Scope Improvements and Practical Expedients, which is intended to not change
the core principle of the guidance in Topic 606, but rather affect only the narrow aspects of Topic 606 by reducing the potential
for diversity in practice at initial application and by reducing the cost and complexity of applying Topic 606 both at transition
and on an ongoing basis. The Company does not anticipate that this adoption will have a significant impact on its financial position,
results of operations, or cash flows. In August 2017, the FASB issued ASU No. 2017-15,
Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to provide guidance on the presentation
and classification of certain cash receipts and cash payments on the statement of cash flows. The guidance specifically addresses
cash flow issues with the objective of reducing the diversity in practice. The guidance will be effective for the Company in fiscal
year 2018, but early adoption is permitted. The Company does not anticipate that this adoption will have a significant impact on
its financial position, results of operations, or cash flows. In October 2017, the FASB issued ASU No. 2017-17,
Consolidation (Topic 810): Interest Held through Related Parties That Are under Common Control, to provide guidance on the evaluation
of whether a reporting entity is the primary beneficiary of a VIE by amending how a reporting entity, that is a single decision
maker of a VIE, treats indirect interests in that entity held through related parties that are under common control. The amendments
are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within
those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company does not anticipate that
this adoption will have a significant impact on its financial position, results of operations, or cash flows. In November 2017, the FASB issued ASU No. 2017-18,
"Statement of Cash Flows: Restricted Cash". The amendments address diversity in practice that exists in the classification
and presentation of changes in restricted cash on the statement of cash flows. The amendment is effective for public companies
for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company does not anticipate
that this adoption will have a significant impact on its financial position, results of operations, or cash flows. The Company has considered all new accounting
pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations,
financial condition, or cash flows, based on current information. |
