Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Jul. 31, 2013 | Nov. 07, 2013 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Emo Capital Corp. | ' |
Entity Central Index Key | '0001410708 | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Jul-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--07-31 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Public Float | ' | $21,000,000 |
Entity Common Stock, Shares Outstanding | ' | 35,500,000 |
Document Fiscal Period Focus | 'FY | ' |
Document Fiscal Year Focus | '2013 | ' |
Balance_Sheets
Balance Sheets (USD $) | Jul. 31, 2013 | Jul. 31, 2012 |
Current Assets | ' | ' |
Cash and cash equivalents | ' | $584 |
TOTAL CURRENT ASSETS | ' | 584 |
TOTAL ASSETS | ' | 584 |
Current Liabilities | ' | ' |
Accounts Payable and Accrued Liabilities | 344,000 | 15,455 |
Shareholder loan | 13,425 | 13,425 |
TOTAL CURRENT LIABILITIES | 47,825 | 28,880 |
Stockholders' Equity (Deficit) | ' | ' |
Common Stock Authorized: $0.001 par value, 125,000,000 shares authorized | 5,000 | 5,000 |
Issued and Outstanding: 35,500,000 common shares as of July 31, 2013 and July 31, 2012 | 5,000 | 5,000 |
Additional paid in capital | 27,000 | 27,000 |
Stock Subscribed | 100,000 | 100,000 |
Subscription Receivable | -100,000 | -100,000 |
Deficit accumulated during the development stage | -79,825 | -60,296 |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | -47,825 | -28,296 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | $584 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Jul. 31, 2013 | Jul. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Common Stock Par Value | $0.00 | $0.00 |
Common Stock Authorized | 125,000,000 | 125,000,000 |
Common Stock Issued and Outstanding | 5,000 | 5,000 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | 12 Months Ended | 83 Months Ended | ||
Jul. 31, 2013 | Jul. 31, 2012 | Jul. 31, 2013 | Jul. 31, 2012 | Jul. 31, 2013 | |
General and Administrative Expenses | ' | ' | ' | ' | ' |
Professional Fees | ' | $3,473 | $18,500 | $7,925 | $76,514 |
Administration | ' | 571 | 529 | 1,127 | 2,054 |
Filing Fee | ' | ' | ' | ' | 350 |
Bank charges and interest | ' | ' | ' | ' | 407 |
Advertising Fee | 500 | ' | 500 | ' | 500 |
Operating Loss | 500 | 4,044 | 19,529 | 9,052 | 79,825 |
Net loss | ($500) | ($4,044) | ($19,529) | ($9,052) | ($79,825) |
Basic and diluted net loss per common share | $0 | $0 | $0 | $0 | ' |
Weighted average common shares | ' | ' | ' | ' | ' |
outstanding - basic and diluted | 35,500,000 | 35,500,000 | 35,500,000 | 35,000,000 | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 83 Months Ended | |
Jul. 31, 2013 | Jul. 31, 2012 | Jul. 31, 2013 | |
Cash Flows from Operating Activities | ' | ' | ' |
Net loss | ($19,529) | ($9,052) | ($79,825) |
Changes in non-working capital items: | ' | ' | ' |
Cash and Cash Equivalents | ' | -584 | -584 |
Accounts payable and accrued liabilities | 18,945 | 9,636 | 33,816 |
Net cash provided by (used in) operating activities | -584 | 584 | -46,009 |
Financing Activities | ' | ' | ' |
Shareholder loan | ' | ' | 13,425 |
Share Capital Subscribed | ' | ' | 32,000 |
Net cash provided by financing activities | ' | ' | 45,425 |
Net increase (decrease) change in cash | -584 | 584 | -584 |
Cash and cash equivalents balance, beginning of period | 584 | ' | 584 |
Cash and cash equivalents balance, end of period | $0 | $584 | $0 |
Shareholders_Equity
Shareholders Equity (USD $) | Common Stock | Additional Paid-In Capital | Retained Earnings / Accumulated Deficit | Total |
Beginning Balance, Amount at Aug. 22, 2006 | $2,000 | $0 | $0 | $2,000 |
Beginning Balance, Shares at Aug. 22, 2006 | 14,000,000 | 0 | 0 | 14,000,000 |
Net Loss | 0 | 0 | -1,900 | -1,900 |
Ending Balance, Amount at Jul. 31, 2007 | 5,000 | 0 | -1,900 | 100 |
Ending Balance, Shares at Jul. 31, 2007 | 35,000,000 | 0 | 0 | 35,000,000 |
Net Loss | 0 | 0 | -28,049 | -28,049 |
Ending Balance, Amount at Jul. 31, 2008 | 5,000 | 0 | -29,949 | 2,051 |
Ending Balance, Shares at Jul. 31, 2008 | 35,000,000 | 0 | 0 | 35,000,000 |
Net Loss | 0 | 0 | -13,776 | -13,776 |
Ending Balance, Amount at Jul. 31, 2009 | 5,000 | 0 | -43,725 | -11,725 |
Ending Balance, Shares at Jul. 31, 2009 | 35,000,000 | 0 | 0 | 35,000,000 |
Net Loss | 0 | 0 | -3,719 | -3,719 |
Ending Balance, Amount at Jul. 31, 2010 | 5,000 | 0 | -47,444 | -15,444 |
Ending Balance, Shares at Jul. 31, 2010 | 35,000,000 | 0 | 0 | 35,000,000 |
Net Loss | 0 | 0 | -3,800 | -3,800 |
Ending Balance, Amount at Jul. 31, 2011 | 5,000 | 0 | -51,244 | -19,244 |
Ending Balance, Shares at Jul. 31, 2011 | 35,000,000 | 0 | 0 | 35,000,000 |
Net Loss | 0 | 0 | -9,052 | -9,052 |
Ending Balance, Amount at Jul. 31, 2012 | 5,000 | 0 | -60,296 | -28,296 |
Ending Balance, Shares at Jul. 31, 2012 | 35,500,000 | 0 | 0 | 35,500,000 |
Net Loss | 0 | 0 | -19,529 | -19,529 |
Ending Balance, Amount at Jul. 31, 2013 | $5,000 | $0 | ($79,825) | ($47,825) |
Ending Balance, Shares at Jul. 31, 2013 | 35,500,000 | 0 | 0 | 35,500,000 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Jul. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates, which have been made using careful judgment. Actual results may vary from these estimates. | |
The financial statements have, in management's opinion, been properly prepared within the framework of the significant accounting policies summarized below: | |
Basic Presentation | |
The consolidated financial statements include accounts of the Company and its whole-owned subsidiary. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. All material intercompany balances and transactions are eliminated in consolidation. | |
Use of Estimates | |
The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates, which have been made using careful judgment. Actual results may vary from these estimates. | |
Impairment of Long Lived Assets | |
Long-lived assets are reviewed for impairment in accordance with ASC Topic 360, "Accounting for the Impairment or Disposal of Long- lived Assets". Under ASC Topic 360, long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. An impairment charge is recognized or the amount, if any, which the carrying value of the asset exceeds the fair value. | |
Foreign Currency Translation | |
The Company is located and operating outside of the United States of America. It maintains its accounting records in U.S. Dollars, as follows: | |
At the transaction date, each asset, liability, revenue, and expense is translated into U.S. dollars by the use of exchange rates in effect at that date. At the period end, monetary assets and liabilities are remeasured by using the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations. | |
The Company's currency exposure is insignificant and immaterial and we do not use derivative instruments to reduce its potential exposure to foreign currency risk. | |
Financial Instruments | |
The carrying value of the Company's financial instruments consisting of cash equivalents and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. | |
Income Taxes | |
The Company uses the assets and liability method of accounting for income taxes in accordance with FASB Topic 740 “Income Taxes". Under this method, deferred tax assts and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements 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 in which those temporary differences are expected to be recovered or settled. | |
Basic and Diluted Net Loss Per Share | |
In accordance with FASB Topic 260 , "Earnings Per Share', the basic net loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted net loss per common share is computed similar to basic net loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As at July 31, 2013, diluted net loss per share is equivalent to basic net loss per share. | |
Stock Based Compensation | |
The Company accounts for stock options and similar equity instruments issued in accordance with ASC Topic 718 Compensation-Stock Compensation. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. Transactions in which goods or services are received in exchange for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. ASC Topic 718- Compensation requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid. | |
The Company did not grant any stock options during the period ended July 31, 2013. | |
Comprehensive Income | |
The Company adopted Statement of Financial Accounting Standards No. 130 (SFAS 130), Reporting Comprehensive Income, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. The Company is disclosing this information on its Statement of Stockholders' Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. | |
The Company has no elements of "other comprehensive income" during the period ended July 31, 2012. | |
Advertising Expenses | |
The company expenses advertising costs as incurred. There was no advertising expense incurred by the company during the period ended July 31, 2013. | |
Recent Accounting Pronouncements | |
In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08, Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment. The guidance in ASU 2011-08 is intended to reduce complexity and costs by allowing an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. The amendments also improve previous guidance by expanding upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Also, the amendments improve the examples of events and circumstances that an entity having a reporting unit with a zero or negative carrying amount should consider in determining whether to measure an impairment loss, if any, under the second step of the goodwill impairment test. The amendments in this ASU are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011, if an entity’s financial statements for the most recent annual or interim period have not yet been issued. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations. | |
In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income,” which is effective for annual reporting periods beginning after December 15, 2011. ASU 2011-05 will become effective for the Company on October 1, 2012. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on our financial position or results of operations. | |
In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs,” which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will become effective for the Company on October 1, 2012. We are currently evaluating ASU 2011-04 and have not yet determined the impact that adoption will have on our financial statements. | |
In April 2011, the FASB issued ASU 2011-02, “Receivables (Topic 310): A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring.” This amendment explains which modifications constitute troubled debt restructurings (“TDR”). Under the new guidance, the definition of a troubled debt restructuring remains essentially unchanged, and for a loan modification to be considered a TDR, certain basic criteria must still be met. For public companies, the new guidance is effective for interim and annual periods beginning on or after June 15, 2011, and applies retrospectively to restructuring occurring on or after the beginning of the fiscal year of adoption. The adoption of this ASU did not have a material impact on our financial statements. | |
In December 2010, the FASB issued ASU 2010-29, “Business Combinations (Topic 805): Disclosure of supplementary pro forma information for business combinations.” This update changes the disclosure of pro forma information for business combinations. These changes clarify that if a public entity presents comparative financial statements, the entity should disclose revenue and earnings of the combined entity as though the business combination that occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only. Also, the existing supplemental pro forma disclosures were expanded to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. These changes become effective for the Company beginning October 1, 2011. The adoption of this ASU did not have a material impact on our financial statements. | |
In December 2010, the FASB issued ASU 2010-28, “Intangible –Goodwill and Other (Topic 350): When to perform Step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts.” This update requires an entity to perform all steps in the test for a reporting unit whose carrying value is zero or negative if it is more likely than not (more than 50%) that a goodwill impairment exists based on qualitative factors, resulting in the elimination of an entity’s ability to assert that such a reporting unit’s goodwill is not impaired and additional testing is not necessary despite the existence of qualitative factors that indicate otherwise. These changes become effective for the Company beginning October 1, 2011. The adoption of this ASU did not have a material impact on our financial statements. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended |
Jul. 31, 2013 | |
Investments, All Other Investments [Abstract] | ' |
Fair Value of Financial Instruments | ' |
Note 3 – FAIR VALUE OF FINANCIAL INSTRUMENTS | |
The Company adopted the FASB standard related to fair value measurement at inception. The standard defines fair value, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The standard applies under other accounting pronouncements that require or permit fair value measurements and, accordingly, does not require any new fair value measurements. The standard clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The recorded values of long-term debt approximate their fair values, as interest approximates market rates. As a basis for considering such assumptions, the standard established 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 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 Company’s financial instruments are cash, accounts receivable, and accounts payable. The recorded values of cash, accounts receivable, and accounts payable approximate their fair values based on their short-term nature. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Jul. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Note 5 - RELATED PARTY TRANSACTIONS | |
A series of shareholder loans were made between August 23, 2006 to July 31, 2013 totalling $13,425. A balance of $13,425 is still outstanding as of July 31, 2013, without interest and fixed term of repayment. The loan is due at demand. |
Subsidiaries
Subsidiaries | 12 Months Ended |
Jul. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Subsidiaries | ' |
Note 6 - SUBSIDIARIES | |
On December 22, 2011 the Company incorporated Nu Vitality Labs Inc., in the State of Nevada as a wholly owned subsidiary of Emo Capital Corp. Nu Vitality Labs Inc., has authorized common shares of 1,500 shares par value .01 and all authorized shares have been issued to EMO Capital Corp. Emo Capital Corp. paid $150 for the shares of Nu Vitality Labs Inc. The attached financial statements were prepared using the consolidation method to account for the 100% wholly owned subsidiary, Nu Vitality Labs Inc., and Emo Capital Corp. for the year ended July 31, 2013. |
Asset_Purchase_Agreement
Asset Purchase Agreement | 12 Months Ended |
Jul. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Asset Purchase Agreement | ' |
Note 7 - Asset Purchase Agreement | |
On June 26, 2013, the Company entered into an Asset Purchase Agreement with Paragon Development Inc. to purchase all of the naming rights of ME4Free for consideration of $1.00. |
Nature_and_Continuance_of_Oper
Nature and Continuance of Operations | 12 Months Ended |
Jul. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Nature and Continuance of Operations | ' |
Note 1 - NATURE AND CONTINUANCE OF OPERATIONS | |
The Company is a development stage company, which was incorporated in the State of Nevada, United States of America on August 23, 2006. The Company intends to commence operations in health and beauty care thru utilization of the web. | |
These financial statements have been prepared on a going concern basis. The Company has accumulated a deficit of $79,825 since inception and has not yet to achieve profitable operations and further losses are anticipated in the development of its business, raising substantial doubt about the Company's ability to continue as a going concern. Its ability to continue as a going concern is dependent upon the ability of the Company to generate profitable operations in the future and or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management plans to continue to provide for its working capital needs by seeking loans from its shareholder. These financial statements do not include any adjustments to the recoverability and classification of assets, or the amount and classification of liabilities that may be necessary should the Company be unable to continue as a going concern. | |
The company's year-end is July 31. |
Subsequent_Event
Subsequent Event | 12 Months Ended |
Jul. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
Note 8 - Subsequent EventThe Company has dissolved its wholly owned subsidiary Nu Vitality Labs Inc. on August 1, 2013. |
Capital_Stock
Capital Stock | 12 Months Ended |
Jul. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Capital Stock | ' |
Note 4 - CAPITAL STOCK | |
On July 15, 2007, the Company issued 14,000,000 common shares at $0.001 per share to the sole director of the Company for total proceeds of $2,000. | |
In May 2008, the Company issued 21,000,000 common shares at $0.01 per share to subscribers for total proceeds of $30,000. | |
On February 25, 2010, the Company amended its Articles of incorporation and authorized 125,000,000 shares of common stock, at $.001 par value of which 35,500,000 were issued and outstanding as of July 31, 2012. | |
On April 30, 2010, the Stockholder's of the Company authorized the Forward Stock Split of our issued and outstanding Common Stock on a seven for one (7:1) basis. The Forward Stock Split became effective on April 30, 2010. As a result of the Forward Stock Split, the Company increased its issued and outstanding shares of the Common Stock to 35,000,000 from 5,000,000. | |
In May 2012, the Company issued 500,000 restricted common shares at $0.20 per share to a shareholder for a subscription receivable of $100,000. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jul. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basic Presentation | ' |
Basic Presentation | |
The consolidated financial statements include accounts of the Company and its whole-owned subsidiary. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. All material intercompany balances and transactions are eliminated in consolidation. | |
Use of Estimates | ' |
Use of Estimates | |
The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates, which have been made using careful judgment. Actual results may vary from these estimates. | |
Impairment of Long Lived Assets | ' |
Impairment of Long Lived Assets | |
Long-lived assets are reviewed for impairment in accordance with ASC Topic 360, "Accounting for the Impairment or Disposal of Long- lived Assets". Under ASC Topic 360, long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. An impairment charge is recognized or the amount, if any, which the carrying value of the asset exceeds the fair value. | |
Foreign Currency Translation | ' |
Foreign Currency Translation | |
The Company is located and operating outside of the United States of America. It maintains its accounting records in U.S. Dollars, as follows: | |
At the transaction date, each asset, liability, revenue, and expense is translated into U.S. dollars by the use of exchange rates in effect at that date. At the period end, monetary assets and liabilities are remeasured by using the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations. | |
The Company's currency exposure is insignificant and immaterial and we do not use derivative instruments to reduce its potential exposure to foreign currency risk. | |
Financial Instruments | ' |
Financial Instruments | |
The carrying value of the Company's financial instruments consisting of cash equivalents and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. | |
Income Taxes | ' |
Income Taxes | |
The Company uses the assets and liability method of accounting for income taxes in accordance with FASB Topic 740 “Income Taxes". Under this method, deferred tax assts and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements 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 in which those temporary differences are expected to be recovered or settled. | |
Basic and Diluted Net Loss Per Share | ' |
Basic and Diluted Net Loss Per Share | |
In accordance with FASB Topic 260 , "Earnings Per Share', the basic net loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted net loss per common share is computed similar to basic net loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As at July 31, 2013, diluted net loss per share is equivalent to basic net loss per share. | |
Stock Based Compensation | ' |
Stock Based Compensation | |
The Company accounts for stock options and similar equity instruments issued in accordance with ASC Topic 718 Compensation-Stock Compensation. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. Transactions in which goods or services are received in exchange for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. ASC Topic 718- Compensation requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid. | |
The Company did not grant any stock options during the period ended July 31, 2013. | |
Comprehensive Income | ' |
Comprehensive Income | |
The Company adopted Statement of Financial Accounting Standards No. 130 (SFAS 130), Reporting Comprehensive Income, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. The Company is disclosing this information on its Statement of Stockholders' Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. | |
The Company has no elements of "other comprehensive income" during the period ended July 31, 2012. | |
Advertising Expenses | ' |
Advertising Expenses | |
The company expenses advertising costs as incurred. There was no advertising expense incurred by the company during the period ended July 31, 2013. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08, Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment. The guidance in ASU 2011-08 is intended to reduce complexity and costs by allowing an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. The amendments also improve previous guidance by expanding upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Also, the amendments improve the examples of events and circumstances that an entity having a reporting unit with a zero or negative carrying amount should consider in determining whether to measure an impairment loss, if any, under the second step of the goodwill impairment test. The amendments in this ASU are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011, if an entity’s financial statements for the most recent annual or interim period have not yet been issued. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations. | |
In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income,” which is effective for annual reporting periods beginning after December 15, 2011. ASU 2011-05 will become effective for the Company on October 1, 2012. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on our financial position or results of operations. | |
In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs,” which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will become effective for the Company on October 1, 2012. We are currently evaluating ASU 2011-04 and have not yet determined the impact that adoption will have on our financial statements. | |
In April 2011, the FASB issued ASU 2011-02, “Receivables (Topic 310): A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring.” This amendment explains which modifications constitute troubled debt restructurings (“TDR”). Under the new guidance, the definition of a troubled debt restructuring remains essentially unchanged, and for a loan modification to be considered a TDR, certain basic criteria must still be met. For public companies, the new guidance is effective for interim and annual periods beginning on or after June 15, 2011, and applies retrospectively to restructuring occurring on or after the beginning of the fiscal year of adoption. The adoption of this ASU did not have a material impact on our financial statements. | |
In December 2010, the FASB issued ASU 2010-29, “Business Combinations (Topic 805): Disclosure of supplementary pro forma information for business combinations.” This update changes the disclosure of pro forma information for business combinations. These changes clarify that if a public entity presents comparative financial statements, the entity should disclose revenue and earnings of the combined entity as though the business combination that occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only. Also, the existing supplemental pro forma disclosures were expanded to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. These changes become effective for the Company beginning October 1, 2011. The adoption of this ASU did not have a material impact on our financial statements. | |
In December 2010, the FASB issued ASU 2010-28, “Intangible –Goodwill and Other (Topic 350): When to perform Step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts.” This update requires an entity to perform all steps in the test for a reporting unit whose carrying value is zero or negative if it is more likely than not (more than 50%) that a goodwill impairment exists based on qualitative factors, resulting in the elimination of an entity’s ability to assert that such a reporting unit’s goodwill is not impaired and additional testing is not necessary despite the existence of qualitative factors that indicate otherwise. These changes become effective for the Company beginning October 1, 2011. The adoption of this ASU did not have a material impact on our financial statements. |
Nature_and_Continuance_of_Oper1
Nature and Continuance of Operations (Details Narrative) (USD $) | 83 Months Ended |
Jul. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
[us-gaap:ProfitLoss] | $79,825 |
Related_Party_Transactions_Det
Related Party Transactions (Details Narrative) (USD $) | 12 Months Ended | 83 Months Ended | |
Jul. 31, 2013 | Jul. 31, 2012 | Jul. 31, 2013 | |
Related Party Transactions [Abstract] | ' | ' | ' |
[us-gaap:ProceedsFromLoans] | ' | ' | $13,425 |
[us-gaap:DueToRelatedPartiesCurrent] | $13,425 | ' | $13,425 |
Subsidiaries_Details_Narrative
Subsidiaries (Details Narrative) (USD $) | Jul. 31, 2013 | Jul. 31, 2012 | 2-May-12 | Dec. 22, 2011 | Feb. 25, 2010 | 2-May-08 | Jul. 15, 2007 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' | ' | ' | ' | ' |
[us-gaap:CommonStockSharesIssued] | 5,000 | 5,000 | ' | 1,500 | 125,000,000 | 21,000,000 | 14,000,000 |
[us-gaap:CommonStockParOrStatedValuePerShare] | $0.00 | $0.00 | $0.20 | $0.01 | $0.00 | $0.01 | $0.00 |
[us-gaap:CommonStockSharesSubscriptions] | $100,000 | $100,000 | ' | $150 | ' | $30,000 | $2,000 |
Asset_Purchase_Agreement_Detai
Asset Purchase Agreement (Details Narrative) (USD $) | Jun. 23, 2006 |
Accounting Policies [Abstract] | ' |
[us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities] | $1 |
Capital_Stock_Details_Narrativ
Capital Stock (Details Narrative) (USD $) | Jul. 31, 2013 | Jul. 31, 2012 | 2-May-12 | Dec. 22, 2011 | Apr. 30, 2010 | Feb. 25, 2010 | 2-May-08 | Jul. 15, 2007 |
Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
[us-gaap:CommonStockSharesIssued] | 5,000 | 5,000 | ' | 1,500 | ' | 125,000,000 | 21,000,000 | 14,000,000 |
[us-gaap:CommonStockParOrStatedValuePerShare] | $0.00 | $0.00 | $0.20 | $0.01 | ' | $0.00 | $0.01 | $0.00 |
[us-gaap:CommonStockSharesSubscriptions] | $100,000 | $100,000 | ' | $150 | ' | ' | $30,000 | $2,000 |
[us-gaap:CommonStockSharesOutstanding] | ' | ' | ' | ' | 35,000,000 | ' | ' | ' |
[us-gaap:CommonStockValueOutstanding] | ' | ' | ' | ' | $5,000,000 | ' | ' | ' |
[us-gaap:CommonStockSharesSubscribedButUnissued] | ' | ' | 500,000 | ' | ' | ' | ' | ' |