Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended |
Mar. 31, 2012 | |
Document and Entity Information: | ' |
Entity Registrant Name | 'Rangeford Resources, Inc. |
Document Type | '10-K |
Document Period End Date | 31-Mar-12 |
Amendment Flag | 'false |
Entity Central Index Key | '0001438035 |
Current Fiscal Year End Date | '--03-31 |
Entity Common Stock, Shares Outstanding | 10,181,700 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'No |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2012 |
Document Fiscal Period Focus | 'FY |
Entity Public Float | $0 |
Rangeford_Resources_Inc_Balanc
Rangeford Resources, Inc. - Balance Sheets (USD $) | Mar. 31, 2012 | Mar. 31, 2011 | ||
Current Assets: | ' | ' | ||
Cash | $200 | $1,880 | ||
Total Current Assets | 200 | 1,880 | ||
Total Assets | 200 | 1,880 | ||
Current Liabilities: | ' | ' | ||
Accounts payable | 3,350 | 700 | ||
Accrued interest payable | 160 | ' | ||
Related party payables | 21,055 | 15,495 | ||
TOTAL CURRENT LIABILITIES | 24,565 | 16,195 | ||
Stockholders' Deficit | ' | ' | ||
Common Stock | 10,082 | [1] | 10,182 | [1] |
Additional paid-in capital | 30,131 | 28,831 | ||
Deficit accumulated during the development stage | -64,578 | -53,328 | ||
Total Stockholders' Deficit | -24,365 | -14,315 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $200 | $1,880 | ||
[1] | $0.001 par value; 75,000,0000 shares authorized; 10,087,700 and 10,181,700 shares issued and outstanding, respectively. |
Statement_of_Financial_Positio
Statement of Financial Position - Parenthetical (USD $) | Mar. 31, 2012 | Mar. 31, 2011 |
Statement of Financial Position | ' | ' |
Common Stock, Par Value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 10,087,700 | 10,181,700 |
Common Stock, Shares Outstanding | 10,087,700 | 10,181,700 |
Rangeford_Resources_Inc_Statem
Rangeford Resources, Inc. - Statements of Operations (USD $) | 12 Months Ended | 52 Months Ended | |
Mar. 31, 2012 | Mar. 31, 2011 | Mar. 31, 2012 | |
Income Statement | ' | ' | ' |
Revenue | ' | ' | ' |
OPERATING EXPENSES | ' | ' | ' |
General and administrative | 11,090 | 15,136 | 64,418 |
TOTAL OPERATING EXPENSES | 11,090 | 15,136 | 64,418 |
Loss from operations | -11,090 | -15,136 | -64,418 |
OTHER EXPENSE | ' | ' | ' |
Interest expense | 160 | ' | 160 |
Total other expense | 160 | ' | 160 |
Loss before income taxes | -11,250 | -15,136 | -64,578 |
Provision for income taxes | ' | ' | ' |
Net loss | ($11,250) | ($15,136) | ($64,578) |
Per share information: | ' | ' | ' |
Basic and diluted loss per common share | $0 | $0 | ' |
Weighted average shares outstanding | 10,176,782 | 10,160,803 | ' |
Rangeford_Resources_Inc_Statem1
Rangeford Resources, Inc. - Statement of Changes in Stockholders' Equity (USD $) | Common Stock | Additional Paid-in Capital | Subscription Receivable | Accumulated Deficit | Total |
Balance, Value at Dec. 02, 2007 | ' | ' | ' | ' | ' |
Common stock issued for cash, Value | $58 | $42 | ' | ' | $100 |
Common stock issued for cash, Shares | 57,803 | ' | ' | ' | ' |
Common stock issued for services, Value | 7,630 | 5,570 | ' | ' | 13,200 |
Common stock issued for services, Shares | 7,630,058 | ' | ' | ' | ' |
Common stock issued for subscription receivable, Value | 2,312 | 1,688 | -4,000 | ' | ' |
Common stock issued for subscription receivable, Shares | 2,312,139 | ' | ' | ' | ' |
Balance, Value at Mar. 31, 2008 | 10,000 | 7,300 | -4,000 | ' | 13,300 |
Balance, Shares at Mar. 31, 2008 | 10,000,000 | ' | ' | ' | ' |
Common stock issued for cash, Value | 14 | 736 | ' | ' | 750 |
Common stock issued for cash, Shares | 14,000 | ' | ' | ' | ' |
Net loss | ' | ' | ' | -31,020 | -31,020 |
Collection of subscription receivable | ' | ' | 4,000 | ' | 4,000 |
Balance, Value at Mar. 31, 2009 | 10,014 | 8,036 | ' | -31,020 | -12,970 |
Balance, Shares at Mar. 31, 2009 | 10,014,000 | ' | ' | ' | ' |
Common stock issued for cash, Value | 85 | 10,565 | ' | ' | 10,650 |
Common stock issued for cash, Shares | 85,200 | ' | ' | ' | ' |
Net loss | ' | ' | ' | -7,172 | -7,172 |
Balance, Value at Mar. 31, 2010 | 10,099 | 18,601 | ' | -38,192 | -9,492 |
Balance, Shares at Mar. 31, 2010 | 10,099,200 | ' | ' | ' | ' |
Common stock issued for cash, Value | 83 | 10,230 | ' | ' | 10,313 |
Common stock issued for cash, Shares | 82,500 | ' | ' | ' | ' |
Net loss | ' | ' | ' | -15,136 | -15,136 |
Rescinded common stock, Shares | ' | ' | ' | ' | 100,000 |
Balance, Value at Mar. 31, 2011 | 10,182 | 28,831 | ' | -53,328 | -14,315 |
Balance, Shares at Mar. 31, 2011 | 10,181,700 | ' | ' | ' | ' |
Net loss | ' | ' | ' | -11,250 | -11,250 |
Rescinded common stock, Value | -100 | 100 | ' | ' | ' |
Contributed capital | ' | 1,200 | ' | ' | 1,200 |
Balance, Value at Mar. 31, 2012 | $10,082 | $30,131 | ' | ($64,578) | ($24,365) |
Balance, Shares at Mar. 31, 2012 | 10,081,700 | ' | ' | ' | ' |
Rangeford_Resources_Inc_Statem2
Rangeford Resources, Inc. - Statements of Cash Flows (USD $) | 12 Months Ended | 15 Months Ended | 52 Months Ended | |||
Mar. 31, 2012 | Mar. 31, 2011 | Mar. 31, 2012 | ||||
Cash flows from Operating Activities | ' | ' | ' | |||
Net loss | ($11,250) | ($15,136) | ($64,578) | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | |||
Common stock issued for services | ' | ' | 13,200 | |||
Changes in operating assets and liabilities: | ' | ' | ' | |||
Accounts payable | 2,650 | ' | 3,350 | |||
Accrued interest payable | 160 | ' | 160 | |||
Net cash used in operating activities | -8,440 | -15,136 | -47,868 | |||
Cash Flows From Financing Activities | ' | ' | ' | |||
Proceeds from related party payable | 7,060 | 2,000 | 22,555 | |||
Repayments of related party payables | -1,500 | ' | -1,500 | |||
Contributed capital | 1,200 | ' | 1,200 | |||
Proceeds from issuance of stock | ' | 10,313 | 25,813 | |||
Net cash provided by financing activities | 6,760 | 12,313 | 48,068 | |||
Net (decrease) increase in cash | -1,680 | -2,823 | 200 | |||
Cash, Beginning of Period | 1,880 | 4,703 | ' | |||
Cash, End of Period | 200 | 1,880 | 200 | |||
Supplemental disclosure of non-cash investing and financing activities: | ' | ' | ' | |||
Rescission of shares of common stock | ' | [1] | ' | [1] | ' | [1] |
Issuance of common stock for professional and consulting services | ' | [2] | ' | [2] | 13,200 | [2] |
Supplemental Cash Flow Information: | ' | ' | ' | |||
Cash paid for interest | ' | ' | ' | |||
Cash paid for income taxes | ' | ' | ' | |||
[1] | Issuance of 7,630,058 shares of common stock for professional and consulting services | |||||
[2] | Rescission of 100,000 shares of common stock |
Note_1_Nature_of_Business
Note 1 - Nature of Business | 12 Months Ended |
Mar. 31, 2012 | |
Notes | ' |
Note 1 - Nature of Business | ' |
Note 1 - Nature of Business | |
Rangeford Resources, Inc. (the Company) was incorporated on December 4, 2007 in the State of Nevada. The Company was organized under the laws of the State of Nevada on December 4, 2007 for the purpose of purchasing, developing and operating oil and gas leases. The Company is an oil and gas company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Company currently has no operations or realized revenues from its planned principle business purpose and, in accordance with FASB ASC 915 “Development Stage Entities,” is considered a Development Stage Company. |
Note_2_Significant_Accounting_
Note 2 - Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2012 | |
Notes | ' |
Note 2 - Significant Accounting Policies | ' |
Note 2 - Significant Accounting Policies | |
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. | |
Cash | |
Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired. | |
Income taxes | |
The Company accounts for income taxes under ASC 740 "Income Taxes" which codified SFAS 109, "Accounting for Income Taxes"and FIN 48 “Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No. 109.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to 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. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. | |
Fair Value of Financial Instruments | |
The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2011 and 2010. | |
FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 establishes 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 requires the reporting entity to develop its own assumptions. | |
The Company does not have any assets or liabilities measured at fair value on a recurring basis at March 31, 2011 and 2010. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis during the years ended March 31, 2012 and 2011. | |
Earnings Per Share Information | |
FASB ASC 260, “Earnings Per Share” provides for calculation of "basic" and "diluted" earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding. | |
Share Based Expenses | |
ASC 718 "Compensation - Stock Compensation" codified SFAS No. 123 prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights. , may be classified as either equity or liabilities. The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (a) the option to settle by issuing equity instruments lacks commercial substance or (b) the present obligation is implied because of an entity's past practices or stated policies. If a present obligation exists, the transaction should be recognized as a liability; otherwise, the transaction should be recognized as equity | |
The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50 "Equity - Based Payments to Non-Employees" which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 ("EITF 96-18"), "Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services". Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date. | |
Going concern | |
The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has minimal cash and no material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company. | |
Recent Accounting Pronouncements | |
There were accounting standards and interpretations issued during the year ended March 31, 2012, none of which are expected to have a material impact on the Company’s financial position, operations, or cash flows. |
Note_3_Stockholders_Equity
Note 3 - Stockholders' Equity | 12 Months Ended |
Mar. 31, 2012 | |
Notes | ' |
Note 3 - Stockholders' Equity | ' |
Note 3 - Stockholders’ Equity | |
Common stock | |
The authorized common stock of the Company consists of 75,000,000 shares with par value of $0.001. | |
On December 4, 2007, the Company authorized the issuance of 10,000,000 shares of its $0.001 par value common stock at $0.00173 per share in consideration of $100 in cash, $4,000 in a subscription receivable and $13,200 of professional and legal services for a total consideration of $17,300. | |
During the year ended March 31, 2009, the Company issued 14,000 shares of its common stock pursuant to its S-1 registration statement which was declared effective on August 15, 2008 for a total cash consideration of $750. The Company also issued 82,500 and 85,200 shares during the years ended March 31, 2011 and 2010 for a total cash consideration of $10,313 and $10,650, respectively. | |
During the year ended March 31, 2011, the Company rescinded 100,000 common shares previously issued for services. | |
There were 10,081,700 and 10,099,200 common shares issued and outstanding as of March 31, 2012 and 2011. | |
Net loss per common share | |
Net loss per share is computed using the basic and diluted weighted average number of common shares outstanding during the period. The weighted-average number of common shares outstanding during each period is used to compute basic loss per share. Diluted loss per share is computed using the weighted average number of shares and dilutive potential common shares outstanding unless common stock equivalent shares are anti-dilutive. Dilutive potential common shares are additional common shares assumed to be exercised. Basic net loss per common share is based on the weighted average number of shares of common stock outstanding during the years ended March 31, 2011 and 2010. |
Note_4_Income_Taxes
Note 4 - Income Taxes | 12 Months Ended | |||||
Mar. 31, 2012 | ||||||
Notes | ' | |||||
Note 4 - Income Taxes | ' | |||||
Note 4 - Income Taxes | ||||||
We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Under ACS 740 “Income Taxes,” when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carryforwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carryforward period. | ||||||
The Company has not taken a tax position that, if challenged, would have a material effect on the financial statements for the years ended March 31, 2011 and 2010, applicable under ACS 740. As a result of the adoption of ACS 740, we did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the balance sheet. | ||||||
Changes in the net deferred tax assets consist of the following: | ||||||
2012 | 2011 | |||||
Net operating loss carry forward | $ | 11,090 | $ | 15,136 | ||
Valuation allowance | -11,090 | -15,136 | ||||
Net deferred tax asset | $ | - | $ | - | ||
A reconciliation of income taxes computed at the 35% statutory rate to the income tax recorded is as follows: | ||||||
2012 | 2011 | |||||
Net operating loss carry forward | $ | 3,882 | $ | 5,298 | ||
Valuation allowance | -3,882 | -5,298 | ||||
Net deferred tax asset | $ | - | $ | - | ||
The Company did not pay any income taxes during the years ended March 31, 2012 or 2011. | ||||||
The net federal operating loss carry forward will expire in 2030. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. |
Note_5_Notes_Payable
Note 5 - Notes Payable | 12 Months Ended |
Mar. 31, 2012 | |
Notes | ' |
Note 5 - Notes Payable | ' |
Note 5 – Notes Payable | |
The Company received loans from a shareholder totaling $7,060 and $2,000 during the years ended March 31, 2012 and 2011 to fund operations. The loans are non-interest bearing and is due on demand. As such they are included in current liabilities as of March 31, 2012 and 2011. Imputed interest has been considered, but was determined to be immaterial to the financial statements as a whole. |
Note_6_Related_Party_Transacti
Note 6 - Related Party Transactions | 12 Months Ended |
Mar. 31, 2012 | |
Notes | ' |
Note 6 - Related Party Transactions | ' |
Note 6 - Related Party Transactions | |
The Company neither owns nor leases any real or personal property. An officer or resident agent of the corporation provides office services without charge. Such costs are immaterial to the financial statements and accordingly, have not been reflected therein. The officers and directors for the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interest. The Company has not formulated a policy for the resolution of such conflicts. | |
The Company had received loans from two of its shareholders totaling $22,555 from inception to March 31, 2012 for the purposes of funding start up operations. This includes $7,060 and $2,000 received during the years ended March 31, 2012 and 2011. These loans are non-interest bearing and are due on demand and as such are included in current liabilities. Imputed interest has been considered by was determined to be immaterial to the financial statements as a whole. |
Note_7_Subsequent_Events
Note 7 - Subsequent Events | 12 Months Ended |
Mar. 31, 2012 | |
Notes | ' |
Note 7 - Subsequent Events | ' |
Note 7 – Subsequent Events | |
The Company has evaluated subsequent events from the balance sheet date through the date of this filing, and determined there are no events to disclose. |
Note_2_Significant_Accounting_1
Note 2 - Significant Accounting Policies: Estimates (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Estimates | ' |
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. |
Note_2_Significant_Accounting_2
Note 2 - Significant Accounting Policies: Cash (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Cash | ' |
Cash | |
Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired. |
Note_2_Significant_Accounting_3
Note 2 - Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Income Taxes | ' |
Income taxes | |
The Company accounts for income taxes under ASC 740 "Income Taxes" which codified SFAS 109, "Accounting for Income Taxes"and FIN 48 “Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No. 109.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to 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. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. |
Note_2_Significant_Accounting_4
Note 2 - Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2011 and 2010. | |
FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 establishes 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 requires the reporting entity to develop its own assumptions. | |
The Company does not have any assets or liabilities measured at fair value on a recurring basis at March 31, 2011 and 2010. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis during the years ended March 31, 2012 and 2011. |
Note_2_Significant_Accounting_5
Note 2 - Significant Accounting Policies: Earnings Per Share Information (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Earnings Per Share Information | ' |
Earnings Per Share Information | |
FASB ASC 260, “Earnings Per Share” provides for calculation of "basic" and "diluted" earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding. |
Note_2_Significant_Accounting_6
Note 2 - Significant Accounting Policies: Share Based Expenses (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Share Based Expenses | ' |
Share Based Expenses | |
ASC 718 "Compensation - Stock Compensation" codified SFAS No. 123 prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights. , may be classified as either equity or liabilities. The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (a) the option to settle by issuing equity instruments lacks commercial substance or (b) the present obligation is implied because of an entity's past practices or stated policies. If a present obligation exists, the transaction should be recognized as a liability; otherwise, the transaction should be recognized as equity | |
The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50 "Equity - Based Payments to Non-Employees" which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 ("EITF 96-18"), "Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services". Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date. |
Note_2_Significant_Accounting_7
Note 2 - Significant Accounting Policies: Going Concern (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Going Concern | ' |
Going concern | |
The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has minimal cash and no material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company. |
Note_2_Significant_Accounting_8
Note 2 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Mar. 31, 2012 | |
Policies | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
There were accounting standards and interpretations issued during the year ended March 31, 2012, none of which are expected to have a material impact on the Company’s financial position, operations, or cash flows. |
Note_4_Income_Taxes_Schedule_o
Note 4 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended | |||||
Mar. 31, 2012 | ||||||
Tables/Schedules | ' | |||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||
2012 | 2011 | |||||
Net operating loss carry forward | $ | 11,090 | $ | 15,136 | ||
Valuation allowance | -11,090 | -15,136 | ||||
Net deferred tax asset | $ | - | $ | - |
Note_4_Income_Taxes_Schedule_o1
Note 4 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended | |||||
Mar. 31, 2012 | ||||||
Tables/Schedules | ' | |||||
Schedule of Effective Income Tax Rate Reconciliation | ' | |||||
2012 | 2011 | |||||
Net operating loss carry forward | $ | 3,882 | $ | 5,298 | ||
Valuation allowance | -3,882 | -5,298 | ||||
Net deferred tax asset | $ | - | $ | - |
Note_3_Stockholders_Equity_Det
Note 3 - Stockholders' Equity (Details) (USD $) | 12 Months Ended | ||||
Mar. 31, 2011 | Mar. 31, 2010 | Mar. 31, 2012 | Mar. 31, 2009 | Dec. 05, 2007 | |
Details | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | 75,000,000 | ' | 75,000,000 | ' | ' |
Common Stock, Par Value | $0.00 | ' | $0.00 | ' | $0.00 |
Common Stock, Shares Issued | 10,181,700 | 85,200 | 10,087,700 | 14,000 | 10,000,000 |
Shares Issued, Price Per Share | ' | ' | ' | ' | $0.00 |
Cash | $1,880 | ' | $200 | $750 | $100 |
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable | ' | ' | ' | ' | 4,000 |
Stock Issued During Period, Shares, New Issues | 82,500 | ' | ' | ' | ' |
Cash Consideration | $10,313 | $10,650 | ' | ' | ' |
Rescinded common stock, Shares | 100,000 | ' | ' | ' | ' |
Common Stock Shares Issued and Outstanding | 10,099,200 | ' | 10,081,700 | ' | ' |
Note_4_Income_Taxes_Schedule_o2
Note 4 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $) | Mar. 31, 2012 | Mar. 31, 2011 |
Details | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | $11,090 | $15,136 |
Valuation Allowance, Amount | ($11,090) | ($15,136) |
Note_4_Income_Taxes_Schedule_o3
Note 4 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $) | Mar. 31, 2012 | Mar. 31, 2011 |
Valuation Allowance, Amount | ($11,090) | ($15,136) |
35% | ' | ' |
Operating Loss Carryforwards | 3,882 | 5,298 |
Valuation Allowance, Amount | ($3,882) | ($5,298) |
Note_5_Notes_Payable_Details
Note 5 - Notes Payable (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2012 | Mar. 31, 2011 | |
Details | ' | ' |
Loan Payable to Related Party | $7,060 | $2,000 |
Note_6_Related_Party_Transacti1
Note 6 - Related Party Transactions (Details) (USD $) | 52 Months Ended |
Mar. 31, 2012 | |
Details | ' |
Due to Related Paty | $22,555 |