KollagenX (KGNX) 10-KT 1 Jul 15 2014 FY Annual report (with FYE transition) Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Feb. 28, 2015	Aug. 14, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	KollagenX Corp.
Entity Central Index Key	1,402,486
Trading Symbol	kgnx
Current Fiscal Year End Date	--02-28
Entity Filer Category	Smaller Reporting Company
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Public Float		$ 0
Entity Common Stock, Shares Outstanding		64,000,000
Document Type	10-K
Document Period End Date	Feb. 28, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	FY

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($)	Feb. 28, 2015	Feb. 28, 2014
Current Assets
Cash and cash equivalents	$ 145	$ 4,905
Accounts receivable - net	29,987
Inventory	68,043	$ 82,244
Advance to vendor	6,600
Prepaid expenses and other current assets	$ 130,385
Note receivable - related party		$ 10,000
Total Current Assets	$ 235,160	97,149
Long term assets
Equipment	18,781	17,236
Computer equipment	13,904	13,904
Less: accumulated depreciation	(31,226)	$ (31,140)
Total long term assets	1,459
Total Assets	236,619	$ 97,149
Current Liabilities
Accounts payable and accrued expenses	59,677	39,108
Loans payable	175,773	89,350
Notes payable	440,871	75,000
Related party payable	151,592	45,654
Total Current Liabilities	827,913	249,112
Stockholders' Deficit
Common stock, ($0.001 par value, 750,000,000 shares authorized; 54,000,000 shares issued and outstanding as of February 28, 2015 and February 28, 2014	54,000	$ 1,000
Additional paid-in capital	(181,873)
Accumulated deficit	(463,420)	$ (152,963)
Total Stockholders' Deficit	(591,293)	(151,963)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$ 236,619	$ 97,149

Consolidated Condensed Balance3

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Feb. 28, 2015	Feb. 28, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	54,000,000	54,000,000
Common stock, shares, outstanding	54,000,000	54,000,000

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Income
Revenue	$ 283,358	$ 287,604
Total revenue	283,358	287,604
Cost of sales
Purchases	66,632	25,031
Freight	12,835	26,538
Total cost of sales	79,467	51,569
Gross profit	203,891	236,035
Operating expenses
Advertising and promotion	12,661	47,810
Depreciation	86	16,961
General and administrative	235,810	47,945
Management salaries	126,400	18,000
Trade shows	75,873	83,413
Wages	37,509	30,215
Total operating expenses	488,339	244,344
Loss from operations	(284,448)	(8,309)
Other expenses
Interest	23,008	8,603
Total other expenses	23,008	8,603
Net loss	$ (307,456)	$ (16,912)
Loss per common share - basic and diluted	$ 0.01	$ 16.91
Weighted average common shares outstanding - basic and diluted	54,000,000	1,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Deficit - USD ($)	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance - Shares at Feb. 29, 2012		1,000
Beginning Balance - Amount at Feb. 29, 2012		$ 1,000		$ (124,525)	$ (123,525)
Net loss				(11,526)	(11,526)
Ending Balance, Shares at Feb. 28, 2013		1,000
Ending Balance, Amount at Feb. 28, 2013		$ 1,000		(136,051)	(135,051)
Net loss				(16,912)	(16,912)
Ending Balance, Shares at Feb. 28, 2014		1,000
Ending Balance, Amount at Feb. 28, 2014		$ 1,000		(152,963)	(151,963)
Issuance of Preferred Shares - Shares	1,000,000
Issuance of Preferred Shares - Amount	$ 1,000		$ (1,000)
Merger Recapitalization - Shares		54,000,000
Merger Recapitalization - Amount		$ 54,000	3,000		57,000
Share Exchange per Merger Agreement - Shares		9,999,000
Share Exchange per Merger Agreement - Amount		$ 9,000	$ (194,873)	(3,000)	(188,873)
Shares cancelled and returned - Shares	(1,000,000)	(10,000,000)	11,000
Shares cancelled and returned - Amount	$ (1,000)	$ (10,000)
Net loss				(307,456)	(307,456)
Ending Balance, Shares at Feb. 28, 2015		54,000,000
Ending Balance, Amount at Feb. 28, 2015		$ 54,000	$ (181,873)	$ (463,420)	$ (591,293)

Consolidated Condensed Stateme6

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (307,456)	$ (16,912)	$ (11,526)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash at beginning of period	4,905
Cash at end of period	$ 145	$ 4,905

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	12 Months Ended
	Feb. 28, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	NOTE 1 - ORGANIZATION AND OPERATIONS KollagenX Corp. (formerly known as Integrated Electric Systems Corp. and previously Raider Ventures, Inc.) was incorporated in the State of Nevada on March 5, 2007 as Northern Minerals, Inc. Our original business was to engage in the acquisition, exploration and development of natural resource properties. On July 17, 2014 our board of directors approved, both, a letter of intent and the preparation of an agreement and plan to acquire 100% of the outstanding common shares of KollagenX, Inc. a California corporation, and to effect a name change from Integrated Electric Systems Corp. to KollagenX Corp., for the sole purpose of expanding the KollagenX, Inc. business plan for the distribution of personal beauty products. Articles of Merger to effect the merger between the newly created KollagenX Corp. and Integrated, and to change the name, from Integrated to KollagenX, were filed with and became effective with the Nevada Secretary of State on July 23, 2014. The name change was reviewed by the Financial Industry Regulatory Authority (FINRA) and approved for filing with an effective date of July 30, 2014 and became effective with the Over-the-Counter Bulletin Board at the opening of trading on July 30, 2014 under the symbol "KGNX". Our new CUSIP number is 50043U107. A Share Exchange Agreement, between the newly created KollagenX Corp., KollagenX, Inc. and the shareholders of KollagenX, Inc. became effective August 4, 2014. Pursuant to that Share Exchange Agreement, all of the outstanding shares of KollagenX, Inc., (1,000) were traded for 10,000,000 common shares of KollagenX Corp. Simultaneously, the two shareholders of KollagenX, Inc., Rondell Fletcher and George Huerta, were elected as Directors and appointed to the Positions of President and CEO respectively, of KollagenX Corp. KollagenX, Inc., a California corporation, was incorporated on May 15, 2009 as QWR, Inc. and changed its name to KollagenX Inc. on October 8, 2013. The acquisition of KollagenX, INC. has been recorded as a reverse merger. As such, the historical statements of KollagenX, CORP. have replaced those of KollagenX, INC., except for the outstanding stock of the Company. KollagenX CORP.'s and KollagenX, INC.'s respective year ends are currently March 31 and February 28, respectively. KollagenX, CORP. has changed its fiscal year end, via Amendments to the Articles of Incorporation in the State of Nevada, to February 28. Management believes this date, the current fiscal year end date of the Operating Company (KollagenX, INC.), would be better suited for the company and shareholders alike."

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Feb. 28, 2015
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying financial statements are prepared in accordance with accounting principles generally accepted in the United States of America. Summary of Significant Accounting Policies This summary of significant accounting policies of KollagenX Corp. is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management who is responsible for the integrity and objectivity of the financial statements. These accounting policies conform to generally accepted accounting principles and have been consistently applied in the preparation of the financial statements. 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash Cash consists of petty cash, checking, savings, and money market accounts. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of December 31, 2014 and February 28, 2014. The Company maintains its cash in bank deposit accounts which, at times, may exceed federal insured limits. Accounts Receivable Accounts receivable are carried at their estimated collectible amounts. The Company provides allowances for uncollectible accounts receivable equal to the estimated collection losses that will be incurred in collection of all receivables. Accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. The Company’s management determines which accounts are past due and if deemed uncollectible, the Company charges off the receivable in the period the determination is made. The Company generally requires no collateral to secure its ordinary accounts receivable. Property and Equipment Property and equipment are stated at cost and depreciated using both straight-line and accelerated methods over estimated useful lives ranging from 3 to 5 years. Upon disposition of property and equipment, related gains and losses are recorded in operations. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expenses as incurred. Inventory Substantially all inventory consists of finished goods and is valued based upon first-in first-out ("FIFO") cost, not in excess of market. The determination of whether the carrying amount of inventory requires a write-down is based on a detailed evaluation of inventory relative to any potential slowing moving products or discontinued items as well as the market conditions for the specific inventory items. Advertising The Company generally expenses advertising costs as incurred. Depreciation and amortization Depreciation and amortization expense primarily consists of the non-cash write-down of tangible and intangible assets over their expected economic lives. We expect this expense to continue to grow in absolute dollars and potentially as a percentage of revenue as we continue to grow and incur capital expenditures to improve our technological infrastructure and acquire assets through potential future acquisitions. Revenue Recognition Revenue consists of product sales at market minus any discount afforded to a client or customer, and professional services and products sold. We recognize revenue when persuasive evidence of an arrangement exists, pricing is fixed and determinable, collection is reasonably assured and delivery or performance of service has occurred. Customer prepayments are reflected as deferred revenue as long as there is persuasive evidence that the purchased product will be shipped within a reasonable time. Sales revenue is recognized upon the shipment of merchandise to customers. Professional and consulting services related to the implementation and use of our products, are generally performed on a fixed fee basis under separate service arrangements. Fair Value of Financial Instruments The Company’s financial instruments include cash, accounts receivable, accounts payable, and notes payable. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at December 31, 2014 and February 28, 2014. The Company did not engage in any transaction involving derivative instruments. As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The three levels of the fair value hierarchy are described below: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). Recent Accounting Pronouncements On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915). Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders’ equity, (2) label the financial statements as those of a development stage entity; (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued. The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements. There are no other recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements. Share-based Compensation Dividends Earnings (Loss) per Share The computation of basic and diluted loss per share for the periods presented is equivalent since the Company had continuing losses. The Company had no common stock equivalents as of February 28, 2015. Risks and Uncertainties Income Taxes Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made. Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the statements of operations.

ACQUISITION OF KOLLAGENX INC.

ACQUISITION OF KOLLAGENX INC.	12 Months Ended
	Feb. 28, 2015
Accounting Policies [Abstract]
ACQUISITION OF KOLLAGENX INC.	NOTE 3- ACQUISITION OF KOLLAGENX INC. On August 4, 2014, the Company completed, as reported on Form 8K filed on August 13, 2014, through a Stock Purchase Agreement, the acquisition of KollagenX Inc. a California corporation focused on the cosmetics business. The purchase price, for 100% of the issued and outstanding common shares of KollagenX Inc., was 10,000,000 restricted common shares of KollagenX Corp issued to the shareholders of KollagenX Inc. The acquisition of KollagenX, INC. has been recorded as a reverse merger. As such, the historical statements of KollagenX, CORP. have been replaced by those of KollagenX, INC., except for the outstanding stock of the Company. A statement of Shareholders' Deficit is included to illustrate the recapitalization resultant of the Share Exchange Agreement. KollagenX CORP.'s and KollagenX, INC.'s respective year ends are currently March 31 and February 28, respectively. KollagenX, CORP. has changed its fiscal year end, via Amendments to the Articles of Incorporation in the State of Nevada, to February 28. Management believes this date, the current fiscal year end date of the Operating Company (KollagenX, INC.), would be better suited for the company and its shareholders. The operations of KollagenX Inc. are included in the condensed combined balance sheets for the years ended February 28, 2014 and February 28, 2015, except for the equity section which includes the accounts of KollagenX Corp. from the date of merger, August 4, 2014, through February 28, 2015, and in the income statement for the years ended February 28, 2014 and 2015.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Feb. 28, 2015
Going Concern [Abstract]
Going Concern	NOTE 4 - GOING CONCERN The accompanying financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the financial statements, during the years ended February 28, 2014 and 2015 the Company incurred net losses of $16,912 and $273,456 and as of the same dates had accumulated deficits of $152,963 and $463,420. The KollagenX Inc. revenue for the year ended February 28, 2015 was $283,358 as compared to $287,604 for the same period in 2014. If the Company is unable to generate profits and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment relating to the recoverability and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company is taking steps to provide the necessary capital to continue its operations. These steps include, but are not limited to: 1) focus on sales to minimize the need for capital; 2) converting part of the outstanding accounts payable to equity; 3) raising equity financing; 4) continuous focus on reductions in cost where possible.

PREPAID EXPENSES

PREPAID EXPENSES	12 Months Ended
	Feb. 28, 2015
Notes to Financial Statements
PREPAID EXPENSES	NOTE 5 – PREPAID EXPENSES On September 22, 2014 the Company entered into a twenty-four month consulting agreement, with a Company that has expertise in providing management advice and financial services advice. The entire fee of $160,000 was paid in advance and will be amortized in equal monthly amounts over the twenty-four months. $35,557 was amortized for the period September 22, 2014 through February 28, 2015.

LOANS AND NOTES PAYABLE

LOANS AND NOTES PAYABLE	12 Months Ended
	Feb. 28, 2015
Debt Disclosure [Abstract]
LOANS AND NOTES PAYABLE	NOTE 6 – LOANS AND NOTES PAYABLE February 28, 2015 2014 Unsecured non interest bearing loan payable, no maturity date $ 15,928 $ - Unsecured non interest bearing loan payable, no maturity date 67,994 70,165 Unsecured non interest bearing loan payable, no maturity date 19,221 19,185 Unsecured non interest bearing loan payable, no maturity date 72,689 75,000 Total non interest bearing loans payable 159,904 164,350 4% unsecured promissory note payable, dated August 13, 2012 , due August 13, 2014 30,000 - 4% unsecured promissory note payable, dated December 18, 2012 due December 18, 2014. 50,000 - 4%Unsecured promissory note payable, dated June 13, 2013 , due June 13, 2015. 20,000 - 4% unsecured promissory note payable, dated October 7, 2013 , due October 7, 2014. 10,000 - 4% unsecured promissory note payable, dated December 18, 2013, due December 18, 2014. 5,000 - 4% unsecured promissory note payable, dated February 19, 2014 , due February 19, 2015. 5,000 - 4% unsecured promissory note payable, dated April 16, 2014 , due April 16, 2015. 10,000 - 4% unsecured promissory note payable, dated June 24, 2014 , due June 24, 2015. 6,000 136,000 - 3% unsecured promissory note payable dated September 15, 2014, due September 15, 2015 10,000 - 6% unsecured promissory note payable dated July 31, 2014 due January 31, 2015 16,562 - 6% unsecured promissory note payable dated July 31, due July 31, 2015 25,000 - $ 187,562 $ - $ 347,466 $ 164,350 Related party debt $ 161,972 $ 45,653 3% convertible due February 21, 2016 $ 199,975 $ -

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	12 Months Ended
	Feb. 28, 2015
Equity [Abstract]
STOCKHOLDERS' DEFICIT	NOTE 6 - STOCKHOLDERS' DEFICIT As of February 28, 2015, there were 54,000,000 shares of common stock outstanding. Preferred Stock As of December 31, 2014, there were 25,000,000 preferred shares authorized and 1,000,000 preferred shares outstanding. On January 20, 2015 the Board of Directors resolved to withdraw the Certificate of Designation for the Class A preferred, which shares had been returned to the Company. Appropriate documents were completed and filed with the State of Nevada to amend the Company's Articles of Incorporation to delete the preferred share designation. Common Stock On August 4, 2014 pursuant to the Stock Exchange Agreement, for the acquisition of 100% of the outstanding common shares of KollagenX Inc., the Company agreed to issue 10,000,000 of its Common Shares to the shareholders of KollagenX Inc. The shares were issued on November 14, 2014.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Feb. 28, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 - RELATED PARTY TRANSACTIONS As of February 28, 2015 and 2014 the consolidated Companies owed $161,792 and $45,653 to each of its two directors respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Feb. 28, 2015
Subsequent Events [Abstract]
Subsequent Event	NOTE 8 - SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financial statements were issued and has not identified any reportable events.

BASIS OF PRESENTATION AND SIG16

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Feb. 28, 2015
Accounting Policies [Abstract]
Use of estimates	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 revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash	Cash Cash consists of petty cash, checking, savings, and money market accounts. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of December 31, 2014 and February 28, 2014. The Company maintains its cash in bank deposit accounts which, at times, may exceed federal insured limits.
Accounts Receivable	Accounts Receivable Accounts receivable are carried at their estimated collectible amounts. The Company provides allowances for uncollectible accounts receivable equal to the estimated collection losses that will be incurred in collection of all receivables. Accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. The Company’s management determines which accounts are past due and if deemed uncollectible, the Company charges off the receivable in the period the determination is made. The Company generally requires no collateral to secure its ordinary accounts receivable.
Property and Equipment	Property and Equipment Property and equipment are stated at cost and depreciated using both straight-line and accelerated methods over estimated useful lives ranging from 3 to 5 years. Upon disposition of property and equipment, related gains and losses are recorded in operations. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expenses as incurred.
Inventory	Inventory Substantially all inventory consists of finished goods and is valued based upon first-in first-out ("FIFO") cost, not in excess of market. The determination of whether the carrying amount of inventory requires a write-down is based on a detailed evaluation of inventory relative to any potential slowing moving products or discontinued items as well as the market conditions for the specific inventory items.
Advertising	Advertising The Company generally expenses advertising costs as incurred.
Depreciation and amortization	Revenue Recognition Revenue consists of product sales at market minus any discount afforded to a client or customer, and professional services and products sold. We recognize revenue when persuasive evidence of an arrangement exists, pricing is fixed and determinable, collection is reasonably assured and delivery or performance of service has occurred. Customer prepayments are reflected as deferred revenue as long as there is persuasive evidence that the purchased product will be shipped within a reasonable time. Sales revenue is recognized upon the shipment of merchandise to customers. Professional and consulting services related to the implementation and use of our products, are generally performed on a fixed fee basis under separate service arrangements.
Revenue Recognition	Revenue Recognition Revenue consists of product sales at market minus any discount afforded to a client or customer, and professional services and products sold. We recognize revenue when persuasive evidence of an arrangement exists, pricing is fixed and determinable, collection is reasonably assured and delivery or performance of service has occurred. Customer prepayments are reflected as deferred revenue as long as there is persuasive evidence that the purchased product will be shipped within a reasonable time. Sales revenue is recognized upon the shipment of merchandise to customers. Professional and consulting services related to the implementation and use of our products, are generally performed on a fixed fee basis under separate service arrangements.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments include cash, accounts receivable, accounts payable, and notes payable. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at December 31, 2014 and February 28, 2014. The Company did not engage in any transaction involving derivative instruments. As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The three levels of the fair value hierarchy are described below: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
Recent Accounting Pronouncements	Recent Accounting Pronouncements On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915). Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders’ equity, (2) label the financial statements as those of a development stage entity; (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued. The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements. There are no other recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements.
Share-based Compensation	Share-based Compensation
Dividends	Dividends
Earnings (Loss) per Share	Earnings (Loss) per Share The computation of basic and diluted loss per share for the periods presented is equivalent since the Company had continuing losses. The Company had no common stock equivalents as of December 31, 2014.
Risks and Uncertainties	Risks and Uncertainties
Income Taxes	Income Taxes Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made. Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the statements of operations.

LOANS AND NOTES PAYABLE (Tables

LOANS AND NOTES PAYABLE (Tables)	12 Months Ended
	Feb. 28, 2015
Debt Disclosure [Abstract]
Schedule of loans and notes payable	February 28, February 28, 2015 2014 Unsecured non interest bearing loan payable, no maturity date $ 15,928 $ - Unsecured non interest bearing loan payable, no maturity date 67,994 70,165 Unsecured non interest bearing loan payable, no maturity date 19,221 19,185 Unsecured non interest bearing loan payable, no maturity date 72,689 75,000 Total non interest bearing loans payable 159,904 164,350 4% unsecured promissory note payable, dated August 13, 2012 , due August 13, 2014 30,000 - 4% unsecured promissory note payable, dated December 18, 2012 due December 18, 2014. 50,000 - 4%Unsecured promissory note payable, dated June 13, 2013 , due June 13, 2015. 20,000 - 4% unsecured promissory note payable, dated October 7, 2013 , due October 7, 2014. 10,000 - 4% unsecured promissory note payable, dated December 18, 2013, due December 18, 2014. 5,000 - 4% unsecured promissory note payable, dated February 19, 2014 , due February 19, 2015. 5,000 - 4% unsecured promissory note payable, dated April 16, 2014 , due April 16, 2015. 10,000 - 4% unsecured promissory note payable, dated June 24, 2014 , due June 24, 2015. 6,000 - 3% unsecured promissory note payable dated September 15, 2014, due September 15, 2015 10,000 - 6% unsecured promissory note payable dated July 31, 2014 due January 31, 2015 16,562 - 6% unsecured promissory note payable dated July 31, due July 31, 2015 25,000 - $ 187,562 $ - $ 347,466 $ 164,350 Related party debt $ 161,972 $ 45,653 3% convertible due February 21, 2016 $ 199,975 $ -

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2013
Going Concern [Abstract]
Net loss	$ (307,456)	$ (16,912)	$ (11,526)
Accumulated deficit	(463,420)	(152,963)
Revenue	$ 283,358	$ 287,604

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Feb. 28, 2015	Feb. 28, 2014
Debt Instrument [Line Items]
Notes payable	$ 260,251	$ 75,000
Total non interest bearing loans payable	128,143	89,350
Related party debt	151,592	45,653
Convertible debt	199,975
Total loans and notes payable	768,295	$ 210,003
Unsecured Promissory Note Payable Dated 7 October 2013 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	10,000
Unsecured Promissory Note Payable Dated 13 August 2012 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	30,000
Unsecured Promissory Note Payable Dated 18 December 2012 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	50,000
Unsecured Promissory Note Payable Dated 13 June 2013 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	20,000
Unsecured Promissory Note Payable Dated 18 December 2013 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	5,000
Unsecured Promissory Note Payable Dated 19 February 2014 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	5,000
Unsecured Promissory Note Payable Dated 16 April 2014 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	10,000
Unsecured Promissory Note Payable Dated 24 June 2014 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	6,000
Unsecured Promissory Note Payable Dated 15 Sept 2014 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	10,000
Unsecured Promissory Note Payable Dated 31 July 2014 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	16,562
Unsecured Promissory Note Payable 2 Dated 31 July 2014 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	25,000
Promissory Note Payable Dated 05 Dec 2014 [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Notes payable	$ 28,334

Notes Payable II (Details)

Notes Payable II (Details) - Notes Payable [Member]	12 Months Ended
	Feb. 28, 2015
Unsecured Promissory Note Payable Dated 18 December 2012 [Member]
Debt Instrument [Line Items]
Notes payable due date	Dec. 18, 2014
Unsecured Promissory Note Payable Dated 13 June 2013 [Member]
Debt Instrument [Line Items]
Notes payable due date	Jun. 13, 2014
Unsecured Promissory Note Payable Dated 7 October 2013 [Member]
Debt Instrument [Line Items]
Notes payable due date	Oct. 7, 2014
Unsecured Promissory Note Payable Dated 18 December 2013 [Member]
Debt Instrument [Line Items]
Notes payable due date	Dec. 18, 2014
Unsecured Promissory Note Payable Dated 13 August 2012 [Member]
Debt Instrument [Line Items]
Notes payable due date	Aug. 13, 2014
Unsecured Promissory Note Payable Dated 12 Feb 2014 [Member]9
Debt Instrument [Line Items]
Notes payable due date	Feb. 19, 2015
Unsecured Promissory Note Payable Dated 16 April 2014 [Member]9
Debt Instrument [Line Items]
Notes payable due date	Apr. 16, 2015
Unsecured Promissory Note Payable Dated 24 June 2014 [Member]
Debt Instrument [Line Items]
Notes payable due date	Jun. 24, 2015
Unsecured Promissory Note Payable Dated 15 Sept 2014 [Member]
Debt Instrument [Line Items]
Notes payable due date	Sep. 15, 2015
Unsecured Promissory Note Payable Dated 31 July 2014 [Member]
Debt Instrument [Line Items]
Notes payable due date	Jul. 31, 2015

PREPAID EXPENSES (Details Narra

PREPAID EXPENSES (Details Narrative) - USD ($)	5 Months Ended
	Feb. 28, 2015	Sep. 22, 2014
Notes to Financial Statements
Prepaid consulting agreement		$ 160,000
Amount amortized for the period	$ 35,557

STOCKHOLDERS' DEFICIT (Details

STOCKHOLDERS' DEFICIT (Details Narrative) - shares	Feb. 28, 2015	Dec. 31, 2014	Nov. 14, 2014
Equity [Abstract]
Common shares outstanding	54,000,000
Preferred shares authorized		25,000,000
Preferred shares outstanding		1,000,000
Number of shares issued to KollagenX Inc. shareholders pursuant to the Stock Exchange Agreement			10,000,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Feb. 28, 2015	Feb. 28, 2014
Related Party Transactions [Abstract]
Amount owed to directors	$ 161,792	$ 45,653