Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 - DESCRIPTION OF COMPANY Newtown Lane Marketing, Incorporated (“we”, “our”, “us” or “Newtown”) was incorporated in Delaware on September 26, 2005. We previously held the exclusive license to exploit the Dreesen's Donut Brand in the United States with the exception of the states of Florida and Pennsylvania, and in Suffolk County, New York, which Dreesen retained for itself. In August 2007 there was a change in control, as detailed below, and we discontinued our efforts to promote the Dreesen's Donut Brand at that time. The license from Dreesen expired on December 31, 2007. The interim financial information as of September 30, 2015 and for the three and six month periods ended September 30, 2015 and 2014 have been prepared without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures made are adequate to provide for fair presentation. These financial statements should be read in conjunction with the financial statements and the notes thereto, included in our Annual Report on Form 10-K, for the fiscal year ended March 31, 2015, previously filed with the SEC. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of our financial position as of September 30, 2015 and results of operations and cash flows for the three and six months ended September 30, 2015 and 2014, as applicable, have been made. The results of operations for the three and six months ended September 30, 2015 are not necessarily indicative of the operating results that may be expected for the full fiscal year or any future periods. EQUITY TRANSACTIONS On August 8, 2007 4,479,250 0.001 500 ) .001 14,820 600,000 On the Effective Date: (i) the Purchasers acquired control of Newtown, with (a) R&R acquiring nine million five hundred nine thousand four hundred forty ( 9,509,440 400 5,928,000 72 2,377,360 100 1,481,510 18 960,000 479,811 274,200 625,030 On the Effective Date: (i) Arnold P. Kling was appointed to our Board of Directors (“Board”) and served together with Vincent J. McGill, a then current director who continued to serve until August 20, 2007, the effective date of his resignation from our Board; (ii) all of our then officers and directors, with the exception of Mr. McGill, resigned from their respective positions with us; (iii) our Board appointed Mr. Kling as president and Kirk M. Warshaw as chief financial officer and secretary; and (iv) we relocated our headquarters to Chatham, New Jersey. Following Mr. McGill’s resignation from our Board on August 20, 2007, Mr. Kling became our sole director and president. On October 19, 2007, we put into effect an amendment to our Certificate of Incorporation to increase to 100,000,000 On December 19, 2007, the holders of all the issued and outstanding shares of Series A Preferred Stock elected to convert all of their shares into shares of Common Stock. As a result, the 500 7,407,540 500 001 On August 15, 2008 500 0.001 On August 29, 2008 1 for 50 50 In December 2008, we sold 550,000 2,000 11,750 On May 6, 2013, Ironbound Partners Fund, LLC (“Ironbound”) acquired 9,509,440 15,000 0.00157737 69.1 On May 14, 2013, Ironbound related party loaned $ 100,000 100,000 5.0 On August 15, 2013, we declared a stock dividend on our outstanding Common Stock for stockholders of record as of August 15, 2013 (the “Record Date”). As a result, all stockholders on the Record Date received nine new shares of Common Stock for each share of Common Stock owned by them as of the that date (the “2013 Stock Dividend”). All share and per share data herein has been retroactively restated to reflect the Reverse Split and the 2013 Stock Dividend, since the 2013 Stock Dividend was in substance a forward stock split. On July 25, 2014, we raised gross proceeds of $ 72,000 72,000 August 31, 2015 5.0 Further, on July 25, 2014, we issued an amended and restated convertible promissory note (the “Amended and Restated Note”) to Ironbound in the principal amount of $ 100,000 August 31, 2015 Effective September 1, 2015, the maturity dates of the “2014 Note” and “Amended and Restated Note” (collectively the “Notes”) have been extended from August 31, 2015 As of September 30, 2015, our authorized capital stock consisted of 100,000,000 1,000,000 13,757,550 During the six months ended September 30, 2015, we recorded a $ 2,500 THE COMPANY TODAY Since the Effective Date, our main purpose has been to serve as a vehicle to acquire an operating business and we are currently considered a “shell” company in as much as we are not generating revenues, do not own an operating business, and have no specific plan other than to engage in a merger or acquisition transaction with a yet-to-be identified operating company or business. Our principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with an operating business rather than immediate, short-term earnings. We will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. The analysis of new business opportunities will be undertaken by or under the supervision of our officers and directors. We have no employees and no material assets. |