Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Jan. 31, 2018 | Apr. 09, 2012 | |
Document And Entity Information | ||
Entity Registrant Name | Odenza Corp. | |
Entity Central Index Key | 1,489,300 | |
Document Type | 10-K | |
Document Period End Date | Jan. 31, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --01-31 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 1,281,000 | |
Entity Common Stock, Shares Outstanding | 3,660,000 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,018 |
Balance Sheet
Balance Sheet - USD ($) | Jan. 31, 2018 | Jan. 31, 2017 |
Current asset | ||
Prepayment | $ 2,606 | |
Total asset | 2,606 | 0 |
Current liabilities | ||
Accounts payable and accrued liabilities | 6,360 | 6,225 |
Due to a related party | 180,969 | 140,744 |
Total liabilities | 187,329 | 146,969 |
STOCKHOLDERS’ EQUITY(DEFICIT) | ||
Common stock Authorized: 75,000,000 common shares with a par value of $0.001 Issued and outstanding: 3,660,000 common shares | 3,660 | 3,660 |
Additional paid in capital | 27,840 | 27,840 |
Deficit accumulated during the exploration stage | (216,223) | (178,469) |
Total stockholders’ deficit | (184,723) | (146,969) |
Total liabilities and stockholders’ deficit | $ 2,606 | $ 0 |
Balance Sheet (Parenthetical)
Balance Sheet (Parenthetical) - $ / shares | Jan. 31, 2018 | Jan. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares issued | 3,660,000 | 3,660,000 |
Common stock, shares outstanding | 3,660,000 | 3,660,000 |
Statement of Income
Statement of Income - USD ($) | 12 Months Ended | 102 Months Ended | |
Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2018 | |
Income Statement [Abstract] | |||
Office and general expenses | $ 7,054 | $ 8,305 | $ 63,370 |
Professional fees | 30,700 | 10,000 | 148,263 |
Mining costs | 4,590 | ||
Net loss | $ 37,754 | $ 18,305 | $ 178,469 |
Basic and diluted net loss per share | $ 0 | $ 0 | |
Weighted average number of shares outstanding | 3,660,000 | 3,660,000 |
Statements of Stockholders_ Equ
Statements of Stockholders’ Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Deficit Accumulated During Development Stage [Member] | Total |
Balance at Jul. 16, 2009 | ||||
Balance, shares at Jul. 16, 2009 | ||||
Common stock issued for cash at $0.001 per share | $ 2,500 | 2,500 | ||
Common stock issued for cash at $0.001 per share, shares | 2,500,000 | |||
Common stock issued for cash at $0.025 per share | $ 1,160 | 27,840 | 29,000 | |
Common stock issued for cash at $0.025 per share, shares | 1,160,000 | |||
Net loss | (8,058) | (8,058) | ||
Balance at Jan. 31, 2010 | $ 3,660 | 27,840 | (8,058) | 23,442 |
Balance, shares at Jan. 31, 2010 | 3,660,000 | |||
Balance at Jul. 16, 2009 | ||||
Balance, shares at Jul. 16, 2009 | ||||
Net loss | (178,469) | |||
Balance at Jan. 31, 2018 | $ 3,660 | 27,840 | (216,223) | (184,723) |
Balance, shares at Jan. 31, 2018 | 3,660,000 | |||
Balance at Jan. 31, 2010 | $ 3,660 | 27,840 | (8,058) | 23,442 |
Balance, shares at Jan. 31, 2010 | 3,660,000 | |||
Net loss | (25,375) | (25,375) | ||
Balance at Jan. 31, 2011 | $ 3,660 | 27,840 | (33,433) | (1,933) |
Balance, shares at Jan. 31, 2011 | 3,660,000 | |||
Net loss | (45,121) | (45,121) | ||
Balance at Jan. 31, 2012 | $ 3,660 | 27,840 | (78,554) | (47,054) |
Balance, shares at Jan. 31, 2012 | 3,660,000 | |||
Net loss | (26,465) | (26,465) | ||
Balance at Jan. 31, 2013 | $ 3,660 | 27,840 | (105,019) | (73,519) |
Balance, shares at Jan. 31, 2013 | 3,660,000 | |||
Net loss | (23,669) | (23,669) | ||
Balance at Jan. 31, 2014 | $ 3,660 | 27,840 | (128,688) | (97,188) |
Balance, shares at Jan. 31, 2014 | 3,660,000 | |||
Net loss | (15,338) | (15,338) | ||
Balance at Jan. 31, 2015 | $ 3,660 | 27,840 | (144,026) | (112,526) |
Balance, shares at Jan. 31, 2015 | 3,660,000 | |||
Net loss | (16,368) | (16,368) | ||
Balance at Jan. 31, 2016 | $ 3,660 | 27,840 | (160,164) | (128,664) |
Balance, shares at Jan. 31, 2016 | 3,660,000 | |||
Net loss | (18,305) | (18,305) | ||
Balance at Jan. 31, 2017 | $ 3,660 | 27,840 | (178,469) | (146,969) |
Balance, shares at Jan. 31, 2017 | 3,660,000 | |||
Net loss | (37,754) | (37,754) | ||
Balance at Jan. 31, 2018 | $ 3,660 | $ 27,840 | $ (216,223) | $ (184,723) |
Balance, shares at Jan. 31, 2018 | 3,660,000 |
Statements of Stockholders_ Eq6
Statements of Stockholders’ Equity (Parenthetical) | Jan. 31, 2010$ / shares |
Share Price One [Member] | |
Share price per share | $ 0.001 |
Share Price Two [Member] | |
Share price per share | $ 0.025 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | 102 Months Ended | ||
Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net loss | $ (37,754) | $ (18,305) | $ (16,368) | $ (178,469) |
Changes in: | ||||
Prepayment | (2,606) | (7,316) | (2,606) | |
Accounts payable and accrued liabilities | 135 | (7,316) | 6,360 | |
NET CASH USED IN OPERATING ACTIVITIES | (40,225) | (25,621) | (212,469) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Due to related party | 40,225 | 25,621 | 180,969 | |
Proceeds from sale of common stock | 31,500 | |||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 40,225 | 25,621 | 212,469 | |
NET (DECREASE)/INCREASE IN CASH | ||||
CASH, BEGINNING OF PERIOD | ||||
CASH, END OF PERIOD | ||||
Supplemental cash flow information: | ||||
Interest paid | ||||
Income taxes paid |
Nature of Operations
Nature of Operations | 12 Months Ended |
Jan. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations | 1. NATURE OF OPERATIONS The Company was incorporated in the State of Nevada on July 16, 2009 and its year-end is January 31. The Company is an exploration stage company and is currently seeking new business opportunities. Going concern These financial statements have been prepared on a going concern basis. The Company has incurred losses since inception resulting in an accumulated deficit of $216,223 at January 31, 2018 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 has plans to seek additional capital through a private placement of its common stock or further director loans as needed. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation These accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). Use of estimates and assumptions 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. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are readily apparent from other sources. The actual results experienced by the Company may differ materially from the Company’s estimates. To the extent there are material differences, future results may be affected. Estimates used in preparing these financial statements include the carrying value of the equipment, deferred income tax amounts, rates and timing of the reversal of income tax differences. Mineral property costs The Company has been in the exploration stage since its formation on July 16, 2009 and has not yet realized any revenues from its planned operations. It is primarily engaged in the acquisition and exploration of mining properties. Mineral property acquisition and exploration costs are charged to operations as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property, are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. Loss per common share Basic earnings per share includes no dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Because the Company does not have any potentially dilutive securities, diluted loss per share is equal to the basic loss per share. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Comprehensive Loss For all periods presented, the Company has no items that represent a comprehensive loss and, therefore, has not included a statement of comprehensive loss in these financial statements. Financial instruments The fair value of the Company’s financial instruments consisting of cash, accounts payable, and amounts due to related party approximate their carrying values due to the immediate or short-term maturity of these financial instruments. The Company operates in Malaysia and therefore is exposed to foreign exchange risk. It is the management’s opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Income taxes Deferred income taxes are provided for tax effects of temporary differences between the tax basis of asset and liabilities and their reported amounts in the financial statements. The Company uses the liability method to account for income taxes, which requires deferred taxes to be recorded at the statutory rate expected to being in effect when the taxes are paid. Valuation allowances are provided for a deferred tax asset when it is more likely than not that such asset will not be realized. Management evaluates tax positions taken or expected to be taken in a tax return. The evaluation of a tax position includes a determination of whether a tax position should be recognized in the financial statements, and such a position should only be recognized if the Company determines that it is more likely than not that the tax position will be sustained upon examination by the tax authorities, based upon the technical merits of the position. For those tax positions that should be recognized, the measurement of a tax position is determined as being the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Stock-based compensation The Company has not adopted a stock option plan and therefore has not granted any stock options. Accordingly, no stock- based compensation has been recorded to date. Foreign Currency Translation Foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity, whereas gains or losses resulting from foreign currency transactions are included in the results of operations. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Mineral Property
Mineral Property | 12 Months Ended |
Jan. 31, 2018 | |
Extractive Industries [Abstract] | |
Mineral Property | 3. MINERAL PROPERTY On September 25, 2009 the Company entered into an Option Agreement to acquire a 100% undivided legal, beneficial and register-able interest in Prospecting License P21/709 of approximately 140 hectares located in the Murchison Mineral field in Western Australia and known as the Island Project Lake Austin. The option period is for two years from effective date. The Company negotiated a one year extension of the option at no charge which was expired on September 25, 2012. The Company did not negotiate any extension of the option and consequently the option has expired and become ineffective. |
Due To Related Party
Due To Related Party | 12 Months Ended |
Jan. 31, 2018 | |
Related Party Transactions [Abstract] | |
Due To Related Party | 4. DUE TO RELATED PARTY As of January 31, 2018 and 2017, the Company owed $180,969 and $140,744 respectively to the President, Chief Executive Officer, Secretary and Chairman of the Board of Directors of the Company for funds advanced. The amounts are unsecured, bear no interest and are payable on demand. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jan. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 5. RELATED PARTY TRANSACTIONS 2018 2017 Related Party A: - stock certificate storage and registrar services $ 1,440 $ 2,880 - renewal of annual list and business licence 2,200 2,200 - professional fees 20,400 - Related party A is a party which the Company’s former Chief Financial Officer, Treasurer, and Director, C.K. Lee who resigned on April 29, 2016, is the Director of related party B. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 6. INCOME TAXES The Tax Cuts and Jobs Act was enacted in the United States on December 22, 2017. The Act reduces the US federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and creates new taxes on certain foreign sourced earnings. In December 2017, the SEC issued SAB 118, which directs taxpayers to consider the impact of the U.S. legislation as “provisional” when it does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete its accounting for the change in tax law. As of January 31, 2018, the Company does not recognize any provisional amount for the transition tax. We re-measured certain deferred tax assets and liabilities based on the rates at which they are anticipated to reverse in the future, which is generally 21%. However, we are still examining certain aspects of the Act and refining our calculations, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. As of January 31, 2018, the Company has estimated tax loss carry forwards for tax purpose of approximately $216,223 These amounts may be applied against future taxable income. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization has not been determined to be more likely than not to occur. The actual income tax provisions differ from the expected amounts calculated by applying the statutory income tax rate to the Company’s loss before income taxes. The components of these differences are as follows: 2018 2017 Loss before income tax $ 37,754 $ 18,305 Statutory tax rate 21 % 21 % Expected recovery of income taxes at standard rates 7,927 3,844 Change in valuation allowance (7,927 ) (3,844 ) Income tax provision $ - $ - Components of deferred tax asset: Non-capital tax loss carry forwards $ 45,408 $ 37,478 Less: valuation allowance (45,408 ) (37,478 ) Net deferred tax asset $ - $ - The Company has not filed income tax returns since inception in the United States. Both taxing authorities prescribe penalties for failing to file certain tax returns and supplemental disclosure. Upon filing there could be penalties and interest assessed. Such penalties vary by jurisdiction and by assessing practices and authorities. As the Company has incurred losses since inception there would be no known or anticipated exposure to penalties for income tax liability. However, certain jurisdictions may assess penalties for failing to file returns and other disclosures and for failing to file other supplemental information associated with foreign ownership, debt and equity position. Inherent uncertainties arise over tax positions taken with respect to transfer pricing, related party transactions, tax credits, tax based incentives and stock based transactions. Management has considered the likelihood and significance of possible penalties associated with its current and intended filing positions and has determined, based on their assessment, that such penalties, if any, would not be expected to be material. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jan. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | 7. SUBSEQUENT EVENTS In accordance with ASC 855, Subsequent Events, the Company has evaluated subsequent events through the date of issuance of the audited financial statements, and determined that there were no subsequent events or transactions that require recognition or disclosure in the financial statements. |
Summary of Significant Accoun15
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of presentation These accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). |
Use of Estimates and Assumptions | Use of estimates and assumptions 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. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are readily apparent from other sources. The actual results experienced by the Company may differ materially from the Company’s estimates. To the extent there are material differences, future results may be affected. Estimates used in preparing these financial statements include the carrying value of the equipment, deferred income tax amounts, rates and timing of the reversal of income tax differences. |
Mineral Property Costs | Mineral property costs The Company has been in the exploration stage since its formation on July 16, 2009 and has not yet realized any revenues from its planned operations. It is primarily engaged in the acquisition and exploration of mining properties. Mineral property acquisition and exploration costs are charged to operations as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property, are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. |
Loss Per Common Share | Loss per common share Basic earnings per share includes no dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Because the Company does not have any potentially dilutive securities, diluted loss per share is equal to the basic loss per share. |
Cash and Cash Equivalents | Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. |
Comprehensive Loss | Comprehensive Loss For all periods presented, the Company has no items that represent a comprehensive loss and, therefore, has not included a statement of comprehensive loss in these financial statements. |
Financial Instruments | Financial instruments The fair value of the Company’s financial instruments consisting of cash, accounts payable, and amounts due to related party approximate their carrying values due to the immediate or short-term maturity of these financial instruments. The Company operates in Malaysia and therefore is exposed to foreign exchange risk. It is the management’s opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. |
Income Taxes | Income taxes Deferred income taxes are provided for tax effects of temporary differences between the tax basis of asset and liabilities and their reported amounts in the financial statements. The Company uses the liability method to account for income taxes, which requires deferred taxes to be recorded at the statutory rate expected to being in effect when the taxes are paid. Valuation allowances are provided for a deferred tax asset when it is more likely than not that such asset will not be realized. Management evaluates tax positions taken or expected to be taken in a tax return. The evaluation of a tax position includes a determination of whether a tax position should be recognized in the financial statements, and such a position should only be recognized if the Company determines that it is more likely than not that the tax position will be sustained upon examination by the tax authorities, based upon the technical merits of the position. For those tax positions that should be recognized, the measurement of a tax position is determined as being the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. |
Stock-based Compensation | Stock-based compensation The Company has not adopted a stock option plan and therefore has not granted any stock options. Accordingly, no stock- based compensation has been recorded to date. |
Foreign Currency Translation | Foreign Currency Translation Foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity, whereas gains or losses resulting from foreign currency transactions are included in the results of operations. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Jan. 31, 2018 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | 2018 2017 Related Party A: - stock certificate storage and registrar services $ 1,440 $ 2,880 - renewal of annual list and business licence 2,200 2,200 - professional fees 20,400 - |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax | The components of these differences are as follows: 2018 2017 Loss before income tax $ 37,754 $ 18,305 Statutory tax rate 21 % 21 % Expected recovery of income taxes at standard rates 7,927 3,844 Change in valuation allowance (7,927 ) (3,844 ) Income tax provision $ - $ - Components of deferred tax asset: Non-capital tax loss carry forwards $ 45,408 $ 37,478 Less: valuation allowance (45,408 ) (37,478 ) Net deferred tax asset $ - $ - |
Nature of Operations (Details N
Nature of Operations (Details Narrative) - USD ($) | Jan. 31, 2018 | Jan. 31, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 216,223 | $ 178,469 |
Mineral Property (Details Narra
Mineral Property (Details Narrative) - Option Agreement [Member] | Sep. 25, 2009USD ($)ha |
Ownership percentage | 100.00% |
Area of mineral property to be acquired | ha | 140 |
Option term | 2 years |
Option extension term, description | The Company negotiated a one year extension of the option at no charge which was expired on September 25, 2012. |
Option period extension tenure | 1 year |
Cost of option period extension | $ |
Due To Related Party (Details N
Due To Related Party (Details Narrative) - USD ($) | Jan. 31, 2018 | Jan. 31, 2017 |
Related Party Transactions [Abstract] | ||
Due to related party | $ 180,969 | $ 140,744 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) | 12 Months Ended | 102 Months Ended | |
Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2018 | |
Professional fees | $ 30,700 | $ 10,000 | $ 148,263 |
Related Party A [Member] | |||
Stock certificate storage and registrar services | 1,440 | 2,880 | |
Renewal of annual list and business license | 2,200 | 2,200 | |
Professional fees | $ 20,400 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | Dec. 22, 2017 | Jan. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Income tax reconciliation description | The Act reduces the US federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and creates new taxes on certain foreign sourced earnings. | |
Income tax reduced rate | 21.00% | |
Operating loss carryforward | $ 216,223 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax (Details) - USD ($) | 12 Months Ended | |
Jan. 31, 2018 | Jan. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Loss before income tax | $ 37,754 | $ 18,305 |
Statutory tax rate | 21.00% | 21.00% |
Expected recovery of income taxes at standard rates | $ 7,927 | $ 3,844 |
Change in valuation allowance | (7,927) | (3,844) |
Income tax provision | ||
Non-capital tax loss carry forwards | 45,408 | 37,478 |
Less: valuation allowance | (45,408) | (37,478) |
Net deferred tax asset |