Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Jan. 31, 2015 | Sep. 12, 2014 | |
Document And Entity Information | ||
Entity Registrant Name | MEDCAREERS GROUP, Inc. | |
Entity Central Index Key | 1438901 | |
Document Type | 10-K | |
Document Period End Date | 31-Jan-15 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -30 | |
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 | $265,000 | |
Entity Common Stock, Shares Outstanding | 276,996,741 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2014 |
Balance_Sheets
Balance Sheets (USD $) | Jan. 31, 2015 | Jan. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $49,881 | $7,299 |
Other Current Assets | 0 | 400 |
Total Current Assets | 49,881 | 7,699 |
Property, Plant and Equipment: | ||
Equipment | 1,799 | 1,799 |
Less: Accumulated depreciation | -1,799 | -1,799 |
Total Fixed Assets | 0 | 0 |
TOTAL ASSETS | 49,881 | 7,699 |
Accounts Payable | 26,754 | 61,141 |
Accrued Expenses | 16,897 | 13,998 |
Accounts Payable - Related Parties | 0 | 246,808 |
Accrued Interest Payable | 216,994 | 173,444 |
Short Term Debt - net of Debt Discount of $92,980 and $0 | 921,419 | 610,650 |
Short Term Debt - Related Party - net of Debt Discount of $21,174 and $0 | 65,826 | 0 |
Total Current Liabilities | $1,247,890 | $1,106,041 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Jan. 31, 2015 | Jan. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, par value | $0.00 | $0.00 |
Preferred Stock, shares issued | 10,000,000 | 10,000,000 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares issued | 850,000,000 | 350,000,000 |
Common Stock, shares outstanding | 95,683,914 | 65,715,368 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | |
Jan. 31, 2015 | Jan. 31, 2014 | |
Income Statement [Abstract] | ||
Revenue | $24,828 | $18,374 |
Cost of Sales | 24,185 | 55,500 |
Gross Profit (Loss) | 643 | -37,126 |
Operating Expenses: | ||
Depreciation and Amortization | 0 | 0 |
Selling and Marketing | 115,353 | 77,206 |
General and Administrative | 440,836 | 645,670 |
Total Operating Expenses | 556,189 | 722,876 |
Net Operating Loss | -555,547 | -760,002 |
Other Income (Expense): | ||
Amortization of Deferred Fees | 0 | -265,551 |
Amortization of Debt Discount | -259,460 | -123,850 |
Gain on Derivatives | 184,717 | 0 |
Interest Expense | -111,835 | -60,737 |
Total Other Income (Expense) | -186,577 | -450,138 |
Net Loss | ($742,124) | ($1,210,140) |
Weighted Average Shares Outstanding, Basic and Diluted | 73,479,555 | 54,457,242 |
Basic and Diluted Earnings (Loss) per Share | ($0.01) | ($0.02) |
Shareholders_Equity
Shareholders Equity (USD $) | Common Stock | Additional Paid-In Capital | Retained Earnings / Accumulated Deficit | Total |
Begining balance, APIC at Jan. 31, 2013 | $4,137,323 | |||
Begining balance, stockholders' equity (deficit) at Jan. 31, 2013 | -4,771,097 | |||
Begining balance, amount at Jan. 31, 2013 | 50,125 | |||
Begining balance, shares outstanding at Jan. 31, 2013 | 50,125,028 | |||
Issuance of common stock for cash, shares | 249,000 | |||
Issuance of common stock for cash, amount | 249 | |||
Issuance of common stock, APIC | 69,169 | |||
Issuance of common stock for services, shares | 1,800,000 | |||
Issuance of common stock for services, amount | 1,800 | |||
Issuance of common stock for services, APIC | 96,300 | |||
Issuance of common stock for deferred fees, shares | 1,733,835 | |||
Issuance of common stock for deferred fees, amount | 1,733 | |||
Issuance of common stock for deferred fees, APIC | 84,934 | |||
Issuance of Common Stock for Accrued Expenses, shares | 1,383,104 | |||
Issuance of Common Stock for Accrued Expenses, Amount | 1,383 | |||
Issuance of Common Stock for Accrued Expenses, APIC | 36,592 | |||
Conversion of notes payable to common stock, shares | 10,424,401 | |||
Conversion of Notes Payable to Common Stock, amount | 10,424 | |||
Conversion of Notes Payable to Common Stock, APIC | 298,211 | |||
APIC Writeoff Due to Debt Conversion | 69,169 | |||
Discounts Related to BCF and Warrants | 0 | |||
Option and Warrant Expense | 70,000 | |||
Net income (loss) | -1,210,140 | -1,210,140 | ||
Ending balance, APIC at Jan. 31, 2014 | 4,817,180 | |||
Stockholders' equity (deficit) at Jan. 31, 2014 | -5,981,237 | |||
Common stock, amount at Jan. 31, 2014 | 65,714 | |||
Common stock, shares outstanding at Jan. 31, 2014 | 65,714,368 | 0 | ||
Issuance of common stock, APIC | 175,213 | |||
Issuance of Common Stock for Accrued Expenses, shares | 6,721,875 | |||
Issuance of Common Stock for Accrued Expenses, Amount | 6,722 | |||
Issuance of Common Stock for Accrued Expenses, APIC | 321,386 | |||
Conversion of notes payable to common stock, shares | 23,246,671 | |||
Conversion of Notes Payable to Common Stock, amount | 23,247 | |||
Conversion of Notes Payable to Common Stock, APIC | 59,207 | |||
APIC Writeoff Due to Debt Conversion | 175,213 | |||
Discounts Related to BCF and Warrants | 175,212 | |||
Option and Warrant Expense | 35,000 | |||
Net income (loss) | -742,124 | -742,124 | ||
Ending balance, APIC at Jan. 31, 2015 | 5,055,146 | |||
Stockholders' equity (deficit) at Jan. 31, 2015 | -6,723,361 | |||
Common stock, amount at Jan. 31, 2015 | $95,683 | |||
Common stock, shares outstanding at Jan. 31, 2015 | 95,683,414 | 0 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | |
Jan. 31, 2015 | Jan. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Loss | ($742,124) | ($1,210,140) |
Adjustments to reconcile net loss to net cash used (provided) by operating activiites | ||
Amortization and Depreciation | 0 | 178,884 |
Common Stock Issued for Services | 0 | 98,100 |
Option and Warrant Expense | 35,000 | 70,000 |
Amortization of Debt Discount | 259,460 | 193,019 |
Gain on Change of Derivative Liabilities | -184,717 | 0 |
Changes in assets and liabilities: | ||
Other Current Assets | 400 | -400 |
Accounts Payable | -31,387 | 46,868 |
Accrued Expenses | 2,898 | 12,252 |
Accrued Expenses - Related Party | 80,000 | 64,950 |
Deferred Revenue | 11,000 | 0 |
Accrued Interest Payable | 44,849 | 130,721 |
Net Cash Provided (Used) by Operating Acticities | -527,621 | -414,746 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of Fixed Assets | 0 | 0 |
Net Cash Provided (Used) by Investing Activities | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from Sale of Common Stock | 0 | 24,900 |
Proceeds from Notes Payable | 613,500 | 350,000 |
Net Cash Provided by Financing Activities | 570,203 | 332,400 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUAVILENTS | 42,582 | -82,346 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 7,299 | 89,645 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 49,881 | 7,299 |
SUPPLEMENTAL DISCLOSURES | ||
Cash Paid During the Year for Interest Expense | 5,500 | 4,500 |
Cash Paid During the Year for Taxes | 0 | 0 |
Issuance of Common Stock for Services | 0 | 98,100 |
Initial Recognition of Derivative Tainted Instrument | 352,840 | 0 |
Write Off APIC from Debt Conversion | 175,212 | 0 |
Issuance of Common Stock for Deferred Fees | $0 | $86,667 |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2015 | |
Accounting Policies [Abstract] | |
Nature of Acitivities and Significant Accounting Policies | NOTE 1 – NATURE OF ACTIVITIES AND SIGNIFICANT ACCOUNTING POLICIES |
Nature of Activities, History and Organization – The Company was formed as RX Scripted, LLC on December 30, 2004 as a North Carolina limited liability company and converted to a Nevada corporation as RX Scripted, Inc. on December 5, 2007. On December 16, 2009, an amendment was filed with the State of Nevada to change the name to “MedCareers Group, Inc.” (the “Company” or “MedCareers”) and change the authorized capital of the Company. On November 5, 2010, the Company issued 24,000,000 shares of its common stock in exchange for 100% of Nurses Lounge, Inc. (“Nurses Lounge”), a Texas corporation. As a result of the share exchange, Nurses Lounge became the wholly-owned subsidiary of MedCareers. As a result, the shareholders of Nurses Lounge owned a majority of the voting stock of MedCareers. The transaction was accounted for as a reverse merger whereby Nurses Lounge was considered to be the accounting acquirer as its shareholders retained control of MedCareers after the exchange, although MedCareers is the legal parent company. The share exchange was treated as a recapitalization of MedCareers. As such, Nurses Lounge (and its historical financial statements) is the continuing entity for financial reporting purposes. The financial statements have been prepared as if MedCareers had always been the reporting company and, on the share exchange date, changed its name and reorganized its capital. The Company operates a website for nurses, nursing schools and nurses organizations which enables the respective entities to communicate more easily and efficiently with their members. | |
Significant Accounting Policies: | |
The Company’s management selects accounting principles generally accepted in the United States of America and adopts methods for their application. The application of accounting principles requires the estimating, matching and timing of revenue and expense. The accounting policies used conform to generally accepted accounting principles which have been consistently applied in the preparation of these financial statements. | |
The financial statements and notes are representations of the Company’s management which is responsible for their integrity and objectivity. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented. | |
Basis of Presentation: | |
The Company prepares its financial statements on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States. | |
Principles of Consolidation: | |
The financial statements include the accounts of MedCareers Group, Inc. as well as Nurses Lounge, Inc. All significant inter-company transactions have been eliminated. All amounts are presented in U.S. Dollars unless otherwise stated. | |
Cash and Cash Equivalents: | |
The Company considers all highly liquid debt instruments with a maturity of three months or less to be cash equivalents. At times, cash balances may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The carrying amount approximates fair market value. | |
Fixed Assets: | |
Fixed assets are carried at cost. Depreciation is provided over each asset’s estimated useful life. Upon retirement and disposal, the asset cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the determination of the net income. Additions and significant improvements are capitalized and depreciated. | |
Advertising Costs: | |
The Company incurred no advertising costs for the years ended January 31, 2015 and 2014. | |
Income Taxes: | |
Income from the corporation is taxed at regular corporate rates per the Internal Revenue Code. Although the Company has tax loss carry-forwards (see Note 7), there is uncertainty as to utilization prior to their expiration. Accordingly, the future income tax asset amounts have been fully reserved by a valuation allowance. | |
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return. Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements. Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years. Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |
Use of Estimates: | |
In order to prepare financial statements in conformity with accounting principles generally accepted in the United States, management must make estimates, judgments and assumptions that affect the amounts reported in the financial statements and determine whether contingent assets and liabilities, if any, are disclosed in the financial statements. The ultimate resolution of issues requiring these estimates and assumptions could differ significantly from resolution currently anticipated by management and on which the financial statements are based. | |
Fair Value of Financial Instruments: | |
Pursuant to ASC No. 820, “Fair Value Measurements and Disclosures”, the Company is required to estimate the fair value of all financial instruments included on its balance sheet as of January 31, 2014. The Company’s financial instruments consist of cash, accounts payable, advances and notes payable. The Company considers the carrying value of such amounts in the financial statements to approximate their fair value due to the short-term nature of these financial instruments. | |
Revenue Recognition: | |
Revenue from sales are recognized as the services are performed and amounts are earned. Certain sales are for services over the period of six months or a year and those sales are prorated based upon the amount earned in the current period and the balance recorded as deferred revenue. The Company recognizes revenue in accordance with ASC 605-10, "Revenue Recognition in Financial Statements", (formerly Staff Accounting Bulletin No. 104 (“SAB 104”)). Revenue is recognized when persuasive evidence of an arrangement exists, delivery or service has occurred, the sales price is fixed or determinable and receipt of payment is probable. | |
Earnings per Common Share: | |
Earnings (loss) per share are calculated in accordance with ASC 260 “Earnings per Share”. The weighted average number of common shares outstanding during each period is used to compute basic earnings (loss) per share. Diluted earnings per share are computed using the weighted average number of shares and potentially dilutive common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. Potentially dilutive common shares consist of stock options and are excluded from the diluted earnings per share computation in periods where the Company has incurred a net loss, as their effect would be considered anti-dilutive. | |
There were no potentially dilutive common stock equivalents as of January 31, 2014, therefore basic earnings per share equals diluted earnings per share for the year ended January 31, 2014. The Company had 9,743,000 options outstanding at January 31, 2013. As the Company incurred a net loss during the year ended January 31, 2014, the basic and diluted loss per common share is the same amount, as any common stock equivalents would be considered anti-dilutive. | |
Recently Issued Accounting Pronouncements: | |
The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation: | Basis of Presentation: |
The Company prepares its financial statements on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States. | |
Principles of Consolidation: | Principles of Consolidation: |
The financial statements include the accounts of MedCareers Group, Inc. as well as Nurses Lounge, Inc. All significant inter-company transactions have been eliminated. All amounts are presented in U.S. Dollars unless otherwise stated. | |
Cash and Cash Equivalents: | Cash and Cash Equivalents: |
The Company considers all highly liquid debt instruments with a maturity of three months or less to be cash equivalents. At times, cash balances may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The carrying amount approximates fair market value. | |
Fixed Assets: | Fixed Assets: |
Fixed assets are carried at cost. Depreciation is provided over each asset’s estimated useful life. Upon retirement and disposal, the asset cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the determination of the net income. Additions and significant improvements are capitalized and depreciated. | |
Advertising Costs: | Advertising Costs: |
The Company incurred no advertising costs for the years ended January 31, 2015 and 2014. | |
Income Taxes: | Income Taxes: |
Income from the corporation is taxed at regular corporate rates per the Internal Revenue Code. Although the Company has tax loss carry-forwards (see Note 7), there is uncertainty as to utilization prior to their expiration. Accordingly, the future income tax asset amounts have been fully reserved by a valuation allowance. | |
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return. Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements. Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years. Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |
Use of Estimates: | Use of Estimates: |
In order to prepare financial statements in conformity with accounting principles generally accepted in the United States, management must make estimates, judgments and assumptions that affect the amounts reported in the financial statements and determine whether contingent assets and liabilities, if any, are disclosed in the financial statements. The ultimate resolution of issues requiring these estimates and assumptions could differ significantly from resolution currently anticipated by management and on which the financial statements are based. | |
Fair Value of Financial Instruments: | Fair Value of Financial Instruments: |
Pursuant to ASC No. 820, “Fair Value Measurements and Disclosures”, the Company is required to estimate the fair value of all financial instruments included on its balance sheet as of January 31, 2014. The Company’s financial instruments consist of cash, accounts payable, advances and notes payable. The Company considers the carrying value of such amounts in the financial statements to approximate their fair value due to the short-term nature of these financial instruments. | |
Revenue Recognition: | Revenue Recognition: |
Revenue from sales are recognized as the services are performed and amounts are earned. Certain sales are for services over the period of six months or a year and those sales are prorated based upon the amount earned in the current period and the balance recorded as deferred revenue. The Company recognizes revenue in accordance with ASC 605-10, "Revenue Recognition in Financial Statements", (formerly Staff Accounting Bulletin No. 104 (“SAB 104”)). Revenue is recognized when persuasive evidence of an arrangement exists, delivery or service has occurred, the sales price is fixed or determinable and receipt of payment is probable. | |
Earnings per Common Share: | Earnings per Common Share: |
Earnings (loss) per share are calculated in accordance with ASC 260 “Earnings per Share”. The weighted average number of common shares outstanding during each period is used to compute basic earnings (loss) per share. Diluted earnings per share are computed using the weighted average number of shares and potentially dilutive common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. Potentially dilutive common shares consist of stock options and are excluded from the diluted earnings per share computation in periods where the Company has incurred a net loss, as their effect would be considered anti-dilutive. | |
There were no potentially dilutive common stock equivalents as of January 31, 2014, therefore basic earnings per share equals diluted earnings per share for the year ended January 31, 2014. The Company had 9,743,000 options outstanding at January 31, 2013. As the Company incurred a net loss during the year ended January 31, 2014, the basic and diluted loss per common share is the same amount, as any common stock equivalents would be considered anti-dilutive. | |
Recently Issued Accounting Pronouncements: | Recently Issued Accounting Pronouncements: |
The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Notes_Payable
Notes Payable | 12 Months Ended | |||||||
Jan. 31, 2015 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Notes Payable | NOTE 2 - NOTES PAYABLE | |||||||
The components of the Company’s debt as of January 31, 2015 and 2014 were as follows: | ||||||||
2015 | 2014 | |||||||
Note Payable - $100,000, 12% interest payable monthly or accrued, due Nov 4, 2013 | $100,000 | $ | 100,000 | |||||
Note Payable - $16,000, 12% interest added to note quarterly, due January 31, 2014 | 16,000 | 16,000 | ||||||
Note Payable - $45,000, 12% interest added to note quarterly, due Nov 5, 2013 | 45,000 | 45,000 | ||||||
Note Payable - $5,000, 12% interest added to note quarterly, due Nov 5, 2013 | 5,000 | 5,000 | ||||||
Note Payable - $40,000, 12% interest added to note quarterly, due April 28, 2013 | 20,000 | 40,000 | ||||||
Note Payable - $490,150, 12% interest payable monthly or accrued, due Oct 29, 2013 | 490,150 | 263,150 | ||||||
Note Payable - $4,000, 12% interest added to note quarterly, due April 30, 2013 | 4,000 | 4,000 | ||||||
Note Payable - $25,000, 12% interest added to note quarterly, due April 30, 2013 | 25,000 | 25,000 | ||||||
Note Payable - $50,000, 8% interest payable accrued until maturity, due Jan 27, 2016 | 50,000 | 0 | ||||||
Note Payable - $5,000, 12% interest added to note quarterly, due Nov 5, 2013 | 30,000 | 30,000 | ||||||
Note Payable - $32,500, 8% interest payable accrued until maturity, due May 12, 2014 | 0 | 32,500 | ||||||
Note Payable - $42,500, 8% interest payable accrued until maturity, due Nov 20, 2014 | 42,500 | - | ||||||
Note Payable - $32,500, 8% interest payable accrued until maturity, due Jan 22, 2015 | 22,920 | - | ||||||
Note Payable - $32,500, 8% interest payable accrued until maturity, due June 2, 2015 | 32,500 | - | ||||||
Note Payable - $33,000, 8% interest payable accrued until maturity, due Nov 23, 2014 | 8,703 | -- | ||||||
Note Payable - $32,000, 8% interest payable accrued until maturity, due Nov 1, 2014 | 25,126 | -- | ||||||
Note Payable - $75,000, 8% interest payable accrued until maturity, due July 1, 2015 | 72,500 | - | ||||||
Note Payable - $25,000, 8% interest payable accrued to maturity, due Sept 24, 2016 | 25,000 | - | ||||||
Debt Discount | (92,980 | ) | - | |||||
Subtotal | 921,419 | 610,650 | ||||||
Related Party Debt | ||||||||
Note Payable - $19,500, 8% interest payable accrued to maturity, due Jan 2, 2015 | 19,500 | - | ||||||
Note Payable - $5,500, 8% interest payable accrued until maturity, due July 8, 2015 | 5,500 | - | ||||||
Note Payable - $4,500, 8% interest payable accrued to maturity, due May 5, 2015 | 4,500 | - | ||||||
Note Payable - $24,297, 8% interest payable accrued to maturity, due May 14, 2015 | 23,297 | - | ||||||
Note Payable - $7,703, 8% interest payable accrued to maturity, due May 19, 2015 | 7,703 | - | ||||||
Note Payable - $26,500, 8% interest payable accrued to maturity, due June 12, 2015 | 26,500 | - | ||||||
Debt Discount – Related Party | (21,174 | ) | - | |||||
Subtotal – Realted Party Debt | 65,826 | - | ||||||
Total | $ | 987,245 | $ | 610,650 | ||||
The Company had accrued interest payable of $216,994 and $173,445 interest on the notes at January 31, 2015 and 2014, respectively. | ||||||||
The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 | ||||||||
The Company has entered in to various promissory notes with lenders during the years ended January 31, 2015 and 2014 bearing interest at between 8% and 12% rate per annum, unsecured, payable on demand and convertible into the Company’s common stock. The conversion price ranges from 52% to 50% of the average of the three lowest closing bid prices of the common stock during the 10 or 25 trading days prior to conversion. | ||||||||
The Company analyzed the conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the instrument should be classified as liabilities due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. The instrument is measured at fair value at the end of each reporting period or termination of the instrument with the change in fair value recorded to earnings. The fair value of the embedded conversion option resulted in a full discount of $183,323 to the note on the debt modification date. The discount will be amortized over the term of the note to interest expense. | ||||||||
During the year ended January 31, 2015, the Company converted a total of $82,454 of the convertible notes into 23,246,671 common shares. As of January 31, 2015, $69,169 of the discount had been amortized to interest expense. | ||||||||
A summary of the debt in total is as follows: | ||||||||
2015 | 2014 | |||||||
Convertible debt – fixed conversion rate | $ | 748,853 | $ | 513,150 | ||||
Convertible debt – variable conversion rates, net of debt discount | 127,566 | 32,500- | ||||||
Convertible debt – variable conversion rates, Related Party, net of debt discount | 65,826 | - | ||||||
Non-Convertible debt | 45,000 | 65,000 | ||||||
Net | $ | 987,245 | 610,650 | |||||
The Company has $748,853 and $513,150 of debt that is convertible at ranges from $0.06 to $1.00 per share and accrues interest between 8% and 12% at January 31, 2015 and 2014 respectively.. | ||||||||
The Company has $65,000 and $45,000of debt which has no conversion feature at January 31, 2015 and 2014 respectively | ||||||||
The Company has $127,566 and $32,500 of debt with variable conversion price ranges from 52% to 50% of the average of the three lowest closing bid prices of the common stock during the 10 or 25 trading days prior to conversion as of January 31, 2015 and 2014 respectively. | ||||||||
The company has $65,826 and $0 of related party convertible debt at January 31. 2015 and 2014 respectively.. |
Stockholders_Equity
Stockholders Equity | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jan. 31, 2015 | |||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||
Stockholders Deficit | NOTE 3 - STOCKHOLDERS’ DEFICIT | ||||||||||||||||||||||||||||||||
Preferred Stock: | |||||||||||||||||||||||||||||||||
The Company is authorized to issue 10,000,000 shares of Preferred Stock, having a par value of $0.001 per share. There are no preferred shares outstanding at January 31, 2015 and 2014. | |||||||||||||||||||||||||||||||||
Common Stock: | |||||||||||||||||||||||||||||||||
The Company is authorized to issue 850,000,000 common shares at a par value of $0.001 per share. These shares have full voting rights. At January 31, 2015 and 2014, there were 95,683,914 and 65,715,368 shares outstanding, respectively. No dividends were paid in the years ended January 31, 2015 or 2014. | |||||||||||||||||||||||||||||||||
The Company issued the following shares of common stock in the year ended January 31, 2014: | 249,000 | ||||||||||||||||||||||||||||||||
Issuance of Common Stock for Cash | |||||||||||||||||||||||||||||||||
Issuance of Common Stock for Services | 1,800,000 | ||||||||||||||||||||||||||||||||
Issuance of Common Stock for Deferred Fees | 1,733,335 | ||||||||||||||||||||||||||||||||
Conversion of Notes Payable to Common Stock | 10,424,401 | ||||||||||||||||||||||||||||||||
Conversion of Accrued Interest to Common Stock | 1,383,104 | ||||||||||||||||||||||||||||||||
The Company issued 1,800,000 shares of common stock with a fair market value of $98,100 | |||||||||||||||||||||||||||||||||
The Company issued 249,000 shares of common stock for total cash proceeds of $24,900. | |||||||||||||||||||||||||||||||||
The Company issued 11,807,505 shares of common stock for conversion of Notes payable and accrued interest in the total amount of $346,610. | |||||||||||||||||||||||||||||||||
The Company issued 1,733,335 shares of common stock with a fair value of $86,667 for deferred fees. | |||||||||||||||||||||||||||||||||
The Company issued the following shares of common stock in the year ended January 31, 2015: | |||||||||||||||||||||||||||||||||
Conversion of Accrued Expenses to Common Stock | 6,721,875 | ||||||||||||||||||||||||||||||||
Conversion of Notes Payable to Common Stock | 23,246,671 | ||||||||||||||||||||||||||||||||
The company issued 29,968,546 shares of common stock for the conversion of Notes payable and accrued interest in the amount of $410,562. | |||||||||||||||||||||||||||||||||
Options and Warrants: | |||||||||||||||||||||||||||||||||
The Company recorded option and warrant expense of $35,000 and $70,000 in the years ended January 31, 2015 and 2014, respectively. | |||||||||||||||||||||||||||||||||
The Company had the following options or warrants outstanding at January 31, 2015: | |||||||||||||||||||||||||||||||||
Issued To | # Options | Dated | Expire | Strike Price | |||||||||||||||||||||||||||||
President and CEO | 4,000,000 | 11/18/10 | 11/18/15 | $0.25 per share | |||||||||||||||||||||||||||||
Vice President | 2,000,000 | 11/18/10 | 11/18/15 | $0.25 per share | |||||||||||||||||||||||||||||
Shareholder | 2,000,000 | 9/23/13 | 11/18/15 | $0.25 per share | |||||||||||||||||||||||||||||
Shareholder | 127,500 | 8/28/11 | 8/28/16 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 127,500 | 4/29/12 | 4/29/17 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 100,000 | 3/29/13 | 3/29/16 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 127,500 | 7/31/13 | 7/31/17 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 1,000,000 | 8/31/12 | 8/31/16 | $0.12 per share | |||||||||||||||||||||||||||||
Shareholder | 2,000,000 | 1/18/13 | 1/18/18 | $0.05 per share | |||||||||||||||||||||||||||||
Lender | 3,500,000 | 7/2/14 | 7/1/19 | $0.10 per share | |||||||||||||||||||||||||||||
Options | Weighted Average | Warrants | Weighted Average | ||||||||||||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||||||||||||||
Price | Price | ||||||||||||||||||||||||||||||||
Outstanding at January 31, 2013 | 6,000,000 | $ | 0.25 | 3,970,500 | $ | 0.1 | |||||||||||||||||||||||||||
Year ended January 31, 2014: | |||||||||||||||||||||||||||||||||
Granted | 2,000,000 | 0.25 | 0 | ||||||||||||||||||||||||||||||
Exercised | 0 | — | 0 | — | |||||||||||||||||||||||||||||
Forfeited and canceled | 0 | (488,000) | 0.2 | ||||||||||||||||||||||||||||||
Outstanding at January 31, 2014 | 8,000,000 | $ | 0.25 | 3,482,500 | $ | 0.08 | |||||||||||||||||||||||||||
Granted | 0 | 3,500,000 | 0.1 | ||||||||||||||||||||||||||||||
Exercised | 0 | — | — | — | |||||||||||||||||||||||||||||
Forfeited and canceled | 0 | ||||||||||||||||||||||||||||||||
Outstanding at January 31, 2015 | 8,000,000 | $ | 0.025 | 6,982,500 | $ | 0.11 | |||||||||||||||||||||||||||
Summary of options outstanding and exercisable as of January 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Options | Number of Options | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$0.25 | 1.875 | 6,000,000 | 6,000,000 | ||||||||||||||||||||||||||||||
$0.25 | 1.875 | 2,000,000 | 2,000,000 | ||||||||||||||||||||||||||||||
1.875 | 8,000,000 | 8,000,000 | |||||||||||||||||||||||||||||||
$0.25 | |||||||||||||||||||||||||||||||||
Summary of warrants outstanding and exercisable as of January 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Warrants | Number of Warrants | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$ 0.05 to $ 0.15 | 2.18 | 3,482,500 | 3,482,500 | ||||||||||||||||||||||||||||||
0 | |||||||||||||||||||||||||||||||||
$ 0.05 to $ 0.15 | 2.18 | 3,482,500 | 3,482,500 | ||||||||||||||||||||||||||||||
Summary of options outstanding and exercisable as of January 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Options | Number of Options | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$0.03 | 0.875 | 6,000,000 | 6,000,000 | ||||||||||||||||||||||||||||||
$0.03 | 0.875 | 2,000,000 | 2,000,000 | ||||||||||||||||||||||||||||||
0.875 | 8,000,000 | 8,000,000 | |||||||||||||||||||||||||||||||
$0.03 | |||||||||||||||||||||||||||||||||
Summary of warrants outstanding and exercisable as of January 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Warrants | Number of Warrants | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$ 0.05 to $ 0.12 | 3.11 | 6,982,500 | 6,982,500 | ||||||||||||||||||||||||||||||
3.11 | 6,982,500 | 6,982,500 | |||||||||||||||||||||||||||||||
$ 0.05 to $ 0.12 | |||||||||||||||||||||||||||||||||
Derivative Liability: | |||||||||||||||||||||||||||||||||
As of January 31, 2015 and 2014 the company had $363,523 and $ 0 recorded as derivative liabilities. During the years ended January 31, 2015 and 2014 the company recorded $184,717 and zero in gain from the change in the fair value of derivative liabilities. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Jan. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plans | NOTE 4 – EMPLOYEE BENEFIT PLANS |
During the years ended January 31, 2015 and 2014, there were no qualified or non-qualified employee pension, profit sharing, stock option, or other plans authorized for any class of employees. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Income Taxes | NOTE 5 – INCOME TAXES | ||||||||
The Company has adopted ASC 740-10, “Income Taxes”, which requires the use of the liability method in the computation of income tax expense and the current and deferred income taxes payable (deferred tax liability) or benefit (deferred tax asset). Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. | |||||||||
MedCareers Group, Inc. has incurred losses since inception. Therefore, MedCareers has no federal tax liability. Additionally there are limitations imposed by certain transactions which are deemed to be ownership changes. The net deferred tax asset generated by the loss carryforward has been fully reserved. The cumulative net operating loss carryforward is about $6,723,360 and $5,981,236 at January 31, 2015 and 2014 respectively of which $4,244,253 and $3,946,307 is available for carryforward for federal income tax purposes respectively and will expire in fiscal years 2026 to 2030. At January 31, 2015 and 2014, the deferred tax asset consisted of the following: | |||||||||
2015 | 2014 | ||||||||
Deferred tax asset: | |||||||||
Net operating loss | $ | 1,433,046 | $ | 1,341,744 | |||||
Less valuation allowance | (1,433,046 | ) | (1,341,744 | ) | |||||
Net deferred tax asset | $ | - | $ | - | |||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 6 – COMMITMENTS AND CONTINGENCIES |
The Company may from time to time be involved with various litigation and claims that arise in the normal course of business. As of January 31, 2015, no such matters were known to exist or outstanding. |
Going_Concern_and_Financial_Po
Going Concern and Financial Position | 12 Months Ended |
Jan. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern and Financial Position | NOTE 7 - GOING CONCERN AND FINANCIAL POSITION |
MedCareers’ financial statements are prepared using United States generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred cumulative losses through January 31, 2015 of $6,723,360 and has a working capital deficit at January 31, 2015 of $(1,572,532). | |
Historically, revenues have not been sufficient to cover operating costs that would permit the Company to continue as a going concern. The potential proceeds from the sale of common stock and other contemplated debt and equity financing, and increases in operating revenues from new development and business acquisitions might enable MedCareers to continue as a going concern. These conditions raise substantial doubt about the company’s ability to continue as a going concern. There can be no assurance that the Company can or will be able to complete any debt or equity financing, or develop or acquire one or more business interests on terms favorable to it. MedCareers’ financial statements do not include any adjustments that might result from the outcome of this uncertainty. | |
Subsequent_Events
Subsequent Events | 12 Months Ended | |
Jan. 31, 2015 | ||
Subsequent Events [Abstract] | ||
Subsequent Events | ||
NOTE 9 - SUBSEQUENT EVENTS | ||
Subsequent to year end, the Company borrowed $155,000 on a Note and paid of the following notes plus interest and prepayment penalties: | ||
Note Payable - $42,500, 8% interest payable accrued until maturity, due Nov 20, 2014 | 42,500 | |
Note Payable - $32,500, 8% interest payable accrued until maturity, due Jan 22, 2015 | 22,920 | |
Note Payable - $32,500, 8% interest payable accrued until maturity, due Apr 15, 2015 | 32,500 | |
Note Payable - $32,500, 8% interest payable accrued until maturity, due June 2, 2015 | 32,500 | |
The terms of the note provide that the holder can convert into to be designated Series A Preferred Stock of the Company with the preferred stock carrying terms that allow the conversion into 6.6% of the outstanding common stock of the company. | ||
The Company’s to be designated Series A Preferred Stock is planned to total an aggregate of 500,000 total shares sold at $1.00 per share and be convertible into an aggregate of 20% of the Company’s outstanding common stock. | ||
In the period since January 31, 2015, the Company issued 181,312,727 shares of restricted common stock pursuant to the conversion of various outstanding convertible promissory notes. The Notes provided conversion features which was tied to the market price of the Company’s common stock. | ||
Notes_Payable_Tables
Notes Payable (Tables) | 12 Months Ended | |||||||
Jan. 31, 2015 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Notes Payable | ||||||||
The components of the Company’s debt as of January 31, 2015 and 2014 were as follows: | ||||||||
2015 | 2014 | |||||||
Note Payable - $100,000, 12% interest payable monthly or accrued, due Nov 4, 2013 | $100,000 | $ | 100,000 | |||||
Note Payable - $16,000, 12% interest added to note quarterly, due January 31, 2014 | 16,000 | 16,000 | ||||||
Note Payable - $45,000, 12% interest added to note quarterly, due Nov 5, 2013 | 45,000 | 45,000 | ||||||
Note Payable - $5,000, 12% interest added to note quarterly, due Nov 5, 2013 | 5,000 | 5,000 | ||||||
Note Payable - $40,000, 12% interest added to note quarterly, due April 28, 2013 | 20,000 | 40,000 | ||||||
Note Payable - $490,150, 12% interest payable monthly or accrued, due Oct 29, 2013 | 490,150 | 263,150 | ||||||
Note Payable - $4,000, 12% interest added to note quarterly, due April 30, 2013 | 4,000 | 4,000 | ||||||
Note Payable - $25,000, 12% interest added to note quarterly, due April 30, 2013 | 25,000 | 25,000 | ||||||
Note Payable - $50,000, 8% interest payable accrued until maturity, due Jan 27, 2016 | 50,000 | 0 | ||||||
Note Payable - $5,000, 12% interest added to note quarterly, due Nov 5, 2013 | 30,000 | 30,000 | ||||||
Note Payable - $32,500, 8% interest payable accrued until maturity, due May 12, 2014 | 0 | 32,500 | ||||||
Note Payable - $42,500, 8% interest payable accrued until maturity, due Nov 20, 2014 | 42,500 | - | ||||||
Note Payable - $32,500, 8% interest payable accrued until maturity, due Jan 22, 2015 | 22,920 | - | ||||||
Note Payable - $32,500, 8% interest payable accrued until maturity, due June 2, 2015 | 32,500 | - | ||||||
Note Payable - $33,000, 8% interest payable accrued until maturity, due Nov 23, 2014 | 8,703 | -- | ||||||
Note Payable - $32,000, 8% interest payable accrued until maturity, due Nov 1, 2014 | 25,126 | -- | ||||||
Note Payable - $75,000, 8% interest payable accrued until maturity, due July 1, 2015 | 72,500 | - | ||||||
Note Payable - $25,000, 8% interest payable accrued to maturity, due Sept 24, 2016 | 25,000 | - | ||||||
Debt Discount | (92,980 | ) | - | |||||
Subtotal | 921,419 | 610,650 | ||||||
Related Party Debt | ||||||||
Note Payable - $19,500, 8% interest payable accrued to maturity, due Jan 2, 2015 | 19,500 | - | ||||||
Note Payable - $5,500, 8% interest payable accrued until maturity, due July 8, 2015 | 5,500 | - | ||||||
Note Payable - $4,500, 8% interest payable accrued to maturity, due May 5, 2015 | 4,500 | - | ||||||
Note Payable - $24,297, 8% interest payable accrued to maturity, due May 14, 2015 | 23,297 | - | ||||||
Note Payable - $7,703, 8% interest payable accrued to maturity, due May 19, 2015 | 7,703 | - | ||||||
Note Payable - $26,500, 8% interest payable accrued to maturity, due June 12, 2015 | 26,500 | - | ||||||
Debt Discount – Related Party | (21,174 | ) | - | |||||
Subtotal – Realted Party Debt | 65,826 | - | ||||||
Total | $ | 987,245 | $ | 610,650 | ||||
Stockholders_Equity_Tables
Stockholders Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jan. 31, 2015 | |||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||
Stockholders Equity | |||||||||||||||||||||||||||||||||
The Company had the following options or warrants outstanding at January 31, 2015: | |||||||||||||||||||||||||||||||||
Issued To | # Options | Dated | Expire | Strike Price | |||||||||||||||||||||||||||||
President and CEO | 4,000,000 | 11/18/10 | 11/18/15 | $0.25 per share | |||||||||||||||||||||||||||||
Vice President | 2,000,000 | 11/18/10 | 11/18/15 | $0.25 per share | |||||||||||||||||||||||||||||
Shareholder | 2,000,000 | 9/23/13 | 11/18/15 | $0.25 per share | |||||||||||||||||||||||||||||
Shareholder | 127,500 | 8/28/11 | 8/28/16 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 127,500 | 4/29/12 | 4/29/17 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 100,000 | 3/29/13 | 3/29/16 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 127,500 | 7/31/13 | 7/31/17 | $0.10 per share | |||||||||||||||||||||||||||||
Shareholder | 1,000,000 | 8/31/12 | 8/31/16 | $0.12 per share | |||||||||||||||||||||||||||||
Shareholder | 2,000,000 | 1/18/13 | 1/18/18 | $0.05 per share | |||||||||||||||||||||||||||||
Lender | 3,500,000 | 7/2/14 | 7/1/19 | $0.10 per share | |||||||||||||||||||||||||||||
Options | Weighted Average | Warrants | Weighted Average | ||||||||||||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||||||||||||||
Price | Price | ||||||||||||||||||||||||||||||||
Outstanding at January 31, 2013 | 6,000,000 | $ | 0.25 | 3,970,500 | $ | 0.1 | |||||||||||||||||||||||||||
Year ended January 31, 2014: | |||||||||||||||||||||||||||||||||
Granted | 2,000,000 | 0.25 | 0 | ||||||||||||||||||||||||||||||
Exercised | 0 | — | 0 | — | |||||||||||||||||||||||||||||
Forfeited and canceled | 0 | (488,000) | 0.2 | ||||||||||||||||||||||||||||||
Outstanding at January 31, 2014 | 8,000,000 | $ | 0.25 | 3,482,500 | $ | 0.08 | |||||||||||||||||||||||||||
Granted | 0 | 3,500,000 | 0.1 | ||||||||||||||||||||||||||||||
Exercised | 0 | — | — | — | |||||||||||||||||||||||||||||
Forfeited and canceled | 0 | ||||||||||||||||||||||||||||||||
Outstanding at January 31, 2015 | 8,000,000 | $ | 0.025 | 6,982,500 | $ | 0.11 | |||||||||||||||||||||||||||
Summary of options outstanding and exercisable as of January 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Options | Number of Options | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$0.25 | 1.875 | 6,000,000 | 6,000,000 | ||||||||||||||||||||||||||||||
$0.25 | 1.875 | 2,000,000 | 2,000,000 | ||||||||||||||||||||||||||||||
1.875 | 8,000,000 | 8,000,000 | |||||||||||||||||||||||||||||||
$0.25 | |||||||||||||||||||||||||||||||||
Summary of warrants outstanding and exercisable as of January 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Warrants | Number of Warrants | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$ 0.05 to $ 0.15 | 2.18 | 3,482,500 | 3,482,500 | ||||||||||||||||||||||||||||||
0 | |||||||||||||||||||||||||||||||||
$ 0.05 to $ 0.15 | 2.18 | 3,482,500 | 3,482,500 | ||||||||||||||||||||||||||||||
Summary of options outstanding and exercisable as of January 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Options | Number of Options | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$0.03 | 0.875 | 6,000,000 | 6,000,000 | ||||||||||||||||||||||||||||||
$0.03 | 0.875 | 2,000,000 | 2,000,000 | ||||||||||||||||||||||||||||||
0.875 | 8,000,000 | 8,000,000 | |||||||||||||||||||||||||||||||
$0.03 | |||||||||||||||||||||||||||||||||
Summary of warrants outstanding and exercisable as of January 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||
Range of Exercise | Weighted Average | Number of Warrants | Number of Warrants | ||||||||||||||||||||||||||||||
Prices | Remaining Contractual | Outstanding | Exercisable | ||||||||||||||||||||||||||||||
Life (years) | |||||||||||||||||||||||||||||||||
$ 0.05 to $ 0.12 | 3.11 | 6,982,500 | 6,982,500 | ||||||||||||||||||||||||||||||
3.11 | 6,982,500 | 6,982,500 | |||||||||||||||||||||||||||||||
$ 0.05 to $ 0.12 | |||||||||||||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Deferred Tax Table | |||||||||
2015 | 2014 | ||||||||
Deferred tax asset: | |||||||||
Net operating loss | $ | 1,433,046 | $ | 1,341,744 | |||||
Less valuation allowance | (1,433,046 | ) | (1,341,744 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 | |||||
Income_Taxes_Deferred_Tax_Tabl
Income Taxes - Deferred Tax Table (Details) (USD $) | Jan. 31, 2015 | Jan. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Net operating loss | $1,433,046 | $1,341,744 |
Less valuation allowance | -1,433,046 | -1,341,744 |
Net deferred tax asset | $0 | $0 |
Notes_Payable_Details_Narrativ
Notes Payable (Details Narrative) (USD $) | Jan. 31, 2015 | Jan. 31, 2014 | Jan. 31, 2013 |
Debt Disclosure [Abstract] | |||
Accrued Interest Payable | $216,994 | $173,444 | $173,444 |
Stockholders_Equity_Details_Na
Stockholders Equity (Details Narrative) (USD $) | Jan. 31, 2015 | Jan. 31, 2014 |
Equity [Abstract] | ||
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares issued | 10,000,000 | 10,000,000 |
Common Stock, shares outstanding | 0 | 0 |
Preferred Stock, par value | $0.00 | $0.00 |
Preferred Stock, shares issued | 850,000,000 | 350,000,000 |
Preferred Stock, shares outstanding | 95,683,914 | 65,715,368 |
Income_Taxes_Details_Narrative
Income Taxes (Details Narrative) (USD $) | Jan. 31, 2015 |
Income Tax Disclosure [Abstract] | |
Cumulative Net Loss | $6,723,361 |