Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 15, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'Cyberspace Vita, Inc. | ' | ' |
Entity Central Index Key | '0001381240 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well-Known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Public Float | ' | ' | $59,913 |
Entity Common Stock, Shares Outstanding | ' | 247,550 | ' |
Balance_Sheets
Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets | ' | ' |
Cash | ' | ' |
Total current assets | ' | ' |
TOTAL ASSETS | ' | ' |
Current liabilities | ' | ' |
Accounts payable | 2,302 | ' |
Accrued interest- related party | 50,305 | 33,809 |
Loans - related party | 318,616 | 261,957 |
Total current liabilities | 371,223 | 295,766 |
Total liabilities | 371,223 | 295,766 |
Stockholders' deficit | ' | ' |
Preferred stock, par value $0.001, 10,000,000 shares authorized, no shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively | ' | ' |
Common stock, par value $0.001, 100,000,000 shares authorized, 247,550 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively | 248 | 248 |
Additional paid-in capital | 44,030 | 44,030 |
Deficit accumulated during the development stage | -415,501 | -340,044 |
Total stockholders' deficit | -371,223 | -295,766 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | ' |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Balance Sheets [Abstract] | ' | ' |
Preferred stock, par value (in dollar per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value (in dollar per share) | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common Stock, shares, issued | 247,550 | 247,550 |
Common stock, shares outstanding | 247,550 | 247,550 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 86 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Income Statement [Abstract] | ' | ' | ' |
Revenue | ' | ' | ' |
Expenses: | ' | ' | ' |
General and administrative | 7,111 | 5,454 | 53,376 |
Professional fees(includes $40,000 fees paid to a related party) | 51,850 | 51,220 | 311,820 |
Total operating expenses | 58,961 | 56,674 | 365,196 |
Other expenses | ' | ' | ' |
Interest expense - related party | 16,496 | 13,255 | 50,305 |
Net loss | ($75,457) | ($69,929) | ($415,501) |
Net loss per common share | ($0.30) | ($0.28) | ' |
Weighted average number of common shares | 247,550 | 247,550 | ' |
Statements_of_Operations_Paren
Statements of Operations (Parenthetical) (USD $) | 12 Months Ended | 86 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Income Statement [Abstract] | ' | ' | ' |
Fees paid to a related party | $40,000 | $40,000 | $40,000 |
Statement_of_Stockholders_Defi
Statement of Stockholders' Deficit (USD $) | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Deficit Accumulated During the Development Stage |
Beginning Balance at Nov. 07, 2006 | ' | ' | ' | ' | ' |
Beginning Balance, Shares at Nov. 07, 2006 | ' | ' | ' | ' | ' |
Common stock issued for services | 4,000 | ' | 200 | 3,800 | ' |
Common stock issued for services (in shares) | ' | ' | 200,000 | ' | ' |
Net loss | -4,268 | ' | ' | ' | -4,268 |
Balance at Dec. 31, 2006 | -268 | ' | 200 | 3,800 | -4,268 |
Balance, Shares at Dec. 31, 2006 | ' | ' | 200,000 | ' | ' |
Common stock sold for cash | 9,510 | ' | 48 | 9,462 | ' |
Common stock sold for cash (in shares) | ' | ' | 47,550 | ' | ' |
Capital contributed through forgiveness of debt | 7,540 | ' | ' | 7,540 | ' |
Net loss | -24,244 | ' | ' | ' | -24,244 |
Balance at Dec. 31, 2007 | -7,462 | ' | 248 | 20,802 | -28,512 |
Balance, Shares at Dec. 31, 2007 | ' | ' | 247,550 | ' | ' |
Capital contributed | ' | ' | ' | 23,228 | ' |
Net loss | -50,580 | ' | ' | ' | -50,580 |
Balance at Dec. 31, 2008 | -34,814 | ' | 248 | 44,030 | -79,092 |
Balance, Shares at Dec. 31, 2008 | ' | ' | 247,550 | ' | ' |
Net loss | -59,377 | ' | ' | ' | -59,377 |
Balance at Dec. 31, 2009 | -94,191 | ' | 248 | 44,030 | -138,469 |
Balance, Shares at Dec. 31, 2009 | ' | ' | 247,550 | ' | ' |
Net loss | -63,319 | ' | ' | ' | -63,319 |
Balance at Dec. 31, 2010 | -157,510 | ' | 248 | 44,030 | -201,788 |
Balance, Shares at Dec. 31, 2010 | ' | ' | 247,550 | ' | ' |
Net loss | -68,327 | ' | ' | ' | -68,327 |
Balance at Dec. 31, 2011 | -225,837 | ' | 248 | 44,030 | -270,115 |
Balance, Shares at Dec. 31, 2011 | ' | ' | 247,550 | ' | ' |
Net loss | -69,929 | ' | ' | ' | -69,929 |
Balance at Dec. 31, 2012 | -295,766 | ' | 248 | 44,030 | -340,044 |
Balance, Shares at Dec. 31, 2012 | ' | ' | 247,550 | ' | ' |
Net loss | -75,457 | ' | ' | ' | -75,457 |
Balance at Dec. 31, 2013 | ($371,223) | ' | $248 | $44,030 | ($415,501) |
Balance, Shares at Dec. 31, 2013 | ' | ' | 247,550 | ' | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 86 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Cash flows relating to operating activities | ' | ' | ' |
Net loss | ($75,457) | ($69,929) | ($415,501) |
Changes in operating assets and liabilities: | ' | ' | ' |
Increase (decrease) in accounts payable | 2,382 | -4,540 | 2,302 |
Increase in accrued interest | 16,496 | 13,255 | 50,305 |
Net cash used in operating activities | -56,659 | -61,214 | -362,894 |
Cash flows relating to financing activities | ' | ' | ' |
Proceeds from loans - related party | 56,695 | 61,214 | 318,616 |
Contribution to capital | ' | ' | 30,768 |
Proceeds from issuance of common stock | ' | ' | 13,510 |
Net cash provided by financing activities | 56,659 | 61,214 | 362,894 |
Decrease in cash | ' | ' | ' |
Cash, beginning of period | ' | ' | ' |
Cash, end of period | ' | ' | ' |
Supplemental disclosure of cash flow information | ' | ' | ' |
Cash paid during the period for interest | ' | ' | ' |
Cash paid during the period for income taxes | ' | ' | ' |
Organization_and_Description_o
Organization and Description of Business | 12 Months Ended |
Dec. 31, 2013 | |
Organization and Description Of Business [Abstract] | ' |
ORGANIZATION AND DESCRIPTION OF BUSINESS | ' |
NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS | |
Business description | |
Cyberspace Vita, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on November 7, 2006. The purpose for which the Corporation is organized is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of the State of Nevada. The Company’s original business plan was to create and conduct an online business for the sale of vitamins and supplements, however, the Company never generated any meaningful revenues. On May 5, 2008, the Company discontinued its prior business and changed its business plan. The Company’s current business plan is to seek, investigate, and, if warranted, acquire one or more properties or businesses, and to pursue other related activities intended to enhance shareholder value. The Company has limited operations and in accordance with FASB ASC 915 “Development Stage Entities”, the Company is considered a development stage company. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
A. BASIS OF ACCOUNTING | |
The financial statements have been prepared using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a December 31 year-end. | |
B. CASH EQUIVALENTS | |
The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |
C. USE OF ESTIMATES | |
The preparation of financial statements in conformity with generally accepted accounting principles 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. Actual results could differ from those estimates. | |
D. DEVELOPMENT STAGE | |
The Company continues to devote substantially all of its efforts to exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction. | |
E. BASIC EARNINGS PER SHARE | |
The Company computes net loss per share in accordance with FASB ASC 260 “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. FASB ASC 260 supersedes the provisions of APB No. 15, and requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. | |
Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. | |
F. INCOME TAXES | |
Income taxes are provided in accordance with FASB ASC 740 “Income Taxes”. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. | |
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. | |
G. REVENUE RECOGNITION | |
The Company has not recognized any revenues from its operations. | |
H. SHARE-BASED PAYMENT | |
The Company records stock-based compensation in accordance with the guidance in ASC 718. ASC Topic 718 requires the Company to recognize expense related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | |
During the years ended December 31, 2013 and 2012, there were no stock options granted or outstanding. | |
I. FAIR VALUE MEASUREMENTS | |
The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. | |
The estimated fair value of certain financial instruments, payables to related parties, and accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. | |
ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: | |
Level 1 — quoted prices in active markets for identical assets or liabilities | |
Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable | |
Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) | |
J. RECENT ACCOUNTING PRONOUNCEMENTS | |
From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented. |
Going_Concern
Going Concern | 12 Months Ended |
Dec. 31, 2013 | |
Going Concern [Abstract] | ' |
GOING CONCERN | ' |
NOTE 3. GOING CONCERN | |
The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company is considered a development stage company, has not begun generating revenue, and has experienced recurring net losses. The Company had net losses of $75,457 and $69,929 for the years ended December 31, 2013 and 2012, respectively, and a stockholders’ deficit and working capital deficiency of $371,223 and $295,766 at December 31, 2013 and 2012, respectively. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. | |
The Company is dependent on advances from its principal shareholders for continued funding. There are no commitments or guarantees from any third party to provide such funding nor is there any guarantee that the Company will be able to access the funding it requires to continue its operations. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 4. RELATED PARTY TRANSACTIONS | |
At December 31, 2013, the Company had loans and notes outstanding from a shareholder in the aggregate amount of $318,616, which bears interest at 6% per annum and represents amounts loaned to the Company to pay the Company’s operating expenses. On December 31, 2013, the Payee under the Note and the Company agreed to extend the maturity date of the Note to December 31, 2014. | |
The Company entered into a Services Agreement with Fountainhead Capital Management Limited (“FHM”), a shareholder who holds approximately 80.8% of the Company’s issued and outstanding common stock. The initial term of the Services Agreement was one year and the Company is obligated to pay FHM a quarterly fee in the amount of $10,000, in cash or in kind, on the first day of each calendar quarter commencing May 5, 2008. The term of the Services Agreement has been extended to December 31, 2014. Total fees paid to FHM for the years ended December 31, 2013 and 2012 were $40,000 and $40,000, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
INCOME TAXES | ' | ||||||||
NOTE 5. INCOME TAXES | |||||||||
Tthe Company adopted Financial Accounting ASC 740 “Income Taxes”, by defining the confidence level that a tax position must meet in order to be recognized in the financial statements. The Interpretation requires that the tax effects of a position be recognized only if it is “more-likely-than-not” to be sustained based solely on its technical merits as of the reporting date. The more-likely-than-not threshold represents a positive assertion by management that a company is entitled to the economic benefits of a tax position. If a tax position is not considered more-likely-than-not to be sustained based solely on its technical merits no benefits of the tax position are to be recognized. Moreover, the more-likely-than-not threshold must continue to be met in each reporting period to support continued recognition of a benefit. With the adoption of ASC 740, companies are required to adjust their financial statements to reflect only those tax positions that are more-likely-than-not to be sustained. Any necessary adjustment would be recorded directly to retained earnings and reported as a change in accounting principle. | |||||||||
As of December 31, 2013 and 2012, we have provided a 100% valuation allowance for any deferred tax assets as management has detemined that it is more-likely-than-not that we will not sustain the use of our net operating loss carryforwards. | |||||||||
The components of the Company’s deferred tax asset as of December 31, 2013 and 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
Net operating loss carry forward | $ | 145,410 | $ | 119,000 | |||||
Valuation allowance | (145,410 | ) | (119,000 | ) | |||||
Net deferred tax asset | $ | — | $ | — | |||||
A reconciliation of income taxes computed at the statutory rate to the income tax amount recorded is as follows: | |||||||||
2013 | 2012 | ||||||||
Tax at statutory rate (35%) | $ | (26,410 | ) | $ | (24,100 | ) | |||
Increase in valuation allowance | 26,410 | 24,100 | |||||||
Net deferred tax asset | $ | — | $ | — | |||||
Upon adoption of ASC 740 as of January 1, 2008, the Company had no gross unrecognized tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. At December 31, 2013, the amount of gross unrecognized tax benefits before valuation allowances and the amount that would favorably affect the effective income tax rate in future periods after valuation allowances were $0. The Company has not accrued any additional interest or penalties as a result of the adoption of ASC 740. | |||||||||
The Company files income tax returns in the United States federal jurisdiction and certain states in the United States. No tax returns are currently under examination by any tax authorities. |
Stockholders_Deficit
Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Deficit [Abstract] | ' |
STOCKHOLDERS' DEFICIT | ' |
NOTE 6. STOCKHOLDERS’ DEFICIT | |
The stockholders’ deficit section of the Company’s financial statements contains the following classes of capital stock as of December 31, 2013: | |
* Preferred stock, $0.001 par value: 10,000,000 shares authorized; -0- shares issued and outstanding. | |
* Common stock, $0.001 par value: 100,000,000 shares authorized; 247,550 shares issued and outstanding. | |
* In November 2006, the Company issued 2,000,000 shares of its common stock to its directors in exchange for services totaling $4,000. | |
* In May 2007, the Company issued 25,300 shares of common stock for cash proceeds. These shares were sold for $0.005 per share for total consideration of $5,060. | |
* In August 2007, the Company issued 22,250 shares of common stock for cash proceeds. These shares were sold for $0.005 per share for total consideration of $4,450. | |
* In October 2007, the Company initiated a 10:1 stock split, which has been presented on a retroactive basis. As a result of the stock split, total shares outstanding increased from 4,095,100 to 40,951,000. The stock split was accounted for as a stock dividend after additional paid-in capital was reduced to zero. | |
* In October 2007, concurrent with the 10:1 stock split, a shareholder cancelled 1,800,000 shares of his own stock, which was reflected as a donation of shares. As a result, there were 247,550 shares of common stock issued and outstanding. | |
* In accordance with the Stock Purchase Agreement dated April 15, 2008 by and among Henry C. Casden and Fountainhead Capital Management Limited, a contribution to capital was made for certain outstanding liabilities totaling $23,228. | |
* In July 2009, the Company initiated a 1:20 reverse stock split, which has been presented on a retroactive basis. | |
All amounts shown in the financial statements have been adjusted retroactively to show the impact of (a) a 10:1 stock split which was declared effective in October 2007 and (b) a one-for-twenty reverse stock split which was declared effective in July 2009. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 7. SUBSEQUENT EVENTS | |
The Company has evaluated events occurring after the date of these financial statements through March 11, 2014, the date that these financial statements were issued. There were no material subsequent events as of that date which would require disclosure in or adjustments to these financial statements. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
BASIS OF ACCOUNTING | ' |
A. BASIS OF ACCOUNTING | |
The financial statements have been prepared using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a December 31 year-end. | |
CASH EQUIVALENTS | ' |
B. CASH EQUIVALENTS | |
The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |
USE OF ESTIMATES | ' |
C. USE OF ESTIMATES | |
The preparation of financial statements in conformity with generally accepted accounting principles 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. Actual results could differ from those estimates. | |
DEVELOPMENT STAGE | ' |
D. DEVELOPMENT STAGE | |
The Company continues to devote substantially all of its efforts to exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction. | |
BASIC EARNINGS PER SHARE | ' |
E. BASIC EARNINGS PER SHARE | |
The Company computes net loss per share in accordance with FASB ASC 260 “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. FASB ASC 260 supersedes the provisions of APB No. 15, and requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. | |
Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. | |
INCOME TAXES | ' |
F. INCOME TAXES | |
Income taxes are provided in accordance with FASB ASC 740 “Income Taxes”. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. | |
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. | |
REVENUE RECOGNITION | ' |
G. REVENUE RECOGNITION | |
The Company has not recognized any revenues from its operations. | |
SHARE-BASED PAYMENT | ' |
H. SHARE-BASED PAYMENT | |
The Company records stock-based compensation in accordance with the guidance in ASC 718. ASC Topic 718 requires the Company to recognize expense related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | |
During the years ended December 31, 2013 and 2012, there were no stock options granted or outstanding. | |
FAIR VALUE MEASUREMENTS | ' |
I. FAIR VALUE MEASUREMENTS | |
The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. | |
The estimated fair value of certain financial instruments, payables to related parties, and accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. | |
ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: | |
Level 1 — quoted prices in active markets for identical assets or liabilities | |
Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable | |
Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) | |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
J. RECENT ACCOUNTING PRONOUNCEMENTS | |
From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Components of deferred tax asset | ' | ||||||||
2013 | 2012 | ||||||||
Net operating loss carry forward | $ | 145,410 | $ | 119,000 | |||||
Valuation allowance | (145,410 | ) | (119,000 | ) | |||||
Net deferred tax asset | $ | — | $ | — | |||||
Reconciliation of income taxes computed at the statutory rate | ' | ||||||||
2013 | 2012 | ||||||||
Tax at statutory rate (35%) | $ | (26,410 | ) | $ | (24,100 | ) | |||
Increase in valuation allowance | 26,410 | 24,100 | |||||||
Net deferred tax asset | $ | — | $ | — | |||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Summary of Significant Accounting Policies (Textual) | ' | ' |
Stock options granted and outstanding | 0 | 0 |
Going_Concern_Details
Going Concern (Details) (USD $) | 2 Months Ended | 12 Months Ended | 86 Months Ended | ||||||
Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2013 | |
Going Concern (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($4,268) | ($75,457) | ($69,929) | ($68,327) | ($63,319) | ($59,377) | ($50,580) | ($24,244) | ($415,501) |
Stockholders' deficit and working capital deficiency | ' | $371,223 | $295,766 | ' | ' | ' | ' | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Related Party Transactions (Textual) | ' | ' |
Loans and notes outstanding from a shareholder | $318,616 | ' |
Interest rate on loans and notes outstanding | 6.00% | ' |
Ownership percentage held by shareholder | 80.80% | ' |
Term of services agreement | '1 year | ' |
Obligated to pays quarterly fee to Fountainhead Capital Management Limited | 10,000 | ' |
Extended maturity date of related party transactions | 31-Dec-14 | ' |
Fees paid to Fountainhead Capital Management Limited | $40,000 | $40,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Components of deferred tax asset | ' | ' |
Net operating loss carry forward | $145,410 | $119,000 |
Valuation allowance | -145,410 | -119,000 |
Net deferred tax asset | ' | ' |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Reconciliation of income taxes computed at the statutory rate | ' | ' |
Tax at statutory rate (35%) | ($26,410) | ($24,100) |
Increase in valuation allowance | 26,410 | 24,100 |
Net deferred tax asset | ' | ' |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Taxes (Textual) | ' | ' |
Percentage of valuation allowance for deferred tax assets | 100.00% | 100.00% |
Percentage of statutory income tax rate | 35.00% | 35.00% |
Amount that would favorably affect the effective income tax rate in future periods | $0 | ' |
Stockholders_Deficit_Details
Stockholders' Deficit (Details) (USD $) | 1 Months Ended | 2 Months Ended | 1 Months Ended | ||||||
Jul. 31, 2009 | Oct. 31, 2007 | Aug. 31, 2007 | 31-May-07 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 15, 2008 | Nov. 30, 2006 | |
Director [Member] | |||||||||
Stockholders' Deficit (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | ' | ' | ' | ' | ' | $0.00 | $0.00 | ' | ' |
Preferred stock, shares authorized | ' | ' | ' | ' | ' | 10,000,000 | 10,000,000 | ' | ' |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | ' | ' | ' | ' | $0.00 | $0.00 | ' | ' |
Common stock, shares authorized | ' | ' | ' | ' | ' | 100,000,000 | 100,000,000 | ' | ' |
Common Stock, shares, issued | ' | ' | ' | ' | ' | 247,550 | 247,550 | ' | ' |
Common stock, shares outstanding | ' | ' | ' | ' | ' | 247,550 | 247,550 | ' | ' |
Common stock issued for services | ' | ' | ' | ' | $4,000 | ' | ' | ' | $4,000 |
Common stock issued for services (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 |
Common stock issued for cash proceeds | ' | ' | 4,450 | 5,060 | ' | ' | ' | ' | ' |
Common stock issued for cash proceeds (Shares) | ' | ' | 22,250 | 25,300 | ' | ' | ' | ' | ' |
Per share value of common stock issued for cash proceeds | ' | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' |
Stock split | ' | '10:1 | ' | ' | ' | ' | ' | ' | ' |
Stock outstanding prior stock splits | ' | 4,095,100 | ' | ' | ' | ' | ' | ' | ' |
Stock outstanding after stock splits | ' | 40,951,000 | ' | ' | ' | ' | ' | ' | ' |
Shares cancelled due to stock split | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' |
Reduced additional paid-in capital due to stock split | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Outstanding liabilities | ' | ' | ' | ' | ' | ' | ' | $23,228 | ' |
Reverse stock split | '1:20 | ' | ' | ' | ' | ' | ' | ' | ' |