Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
May. 31, 2015 | Jun. 29, 2015 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | May 31, 2015 | |
Entity Registrant Name | ON THE MOVE SYSTEMS CORP. | |
Entity Central Index Key | 1,498,148 | |
Current Fiscal Year End Date | --02-28 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 2,315,060 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - Class of Stock [Domain] - USD ($) | May. 31, 2015 | Feb. 28, 2015 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 7,154 | $ 2,679 |
Accounts receivable, net of allowance for bad debt of $0 and $0, respectively | 7,500 | 5,250 |
Total current assets | 14,654 | 7,929 |
Fixed assets net of accumulated depreciation of $16,499 and $11,874, respectively | 75,505 | 80,130 |
TOTAL ASSETS | 90,159 | 88,059 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 396,344 | 307,842 |
Current portion of convertible notes payable, net of discount of $243,199 and $380,949, respectively | 586,349 | 448,599 |
Current portion of capital lease obligation | 5,777 | 5,645 |
Current portion of accrued interest payable | 144,373 | 124,379 |
Total current liabilities | 1,132,843 | 886,465 |
Convertible notes payable, net of discount of $556,372 and $500,339, respectively. | 31,970 | 22,620 |
Convertible note payable to related party | 66,889 | 164,190 |
Accrued interest payable | 34,481 | 20,200 |
Capital lease obligation | 20,572 | 22,080 |
TOTAL LIABILITIES | 1,286,755 | 1,115,555 |
STOCKHOLDERS' DEFICIT | ||
Series E Preferred Stock, $0.0010 stated value; 20,000,000 shares authorized; 1,000,000 and 1,000,000 shares issued and outstanding at May 31, 2015 and February 28, 2015, respectively | 1,000 | 1,000 |
Common Stock, $0.0010 par value; 480,000,000 shares authorized; 1,365,593 and 75,360 shares issued and outstanding at May 31, 2015 and February 28, 2015, respectively | 1,366 | 75 |
Additional paid-in capital | 5,518,229 | 5,351,237 |
Accumulated deficit | (6,717,191) | (6,379,808) |
Total stockholders' deficit | (1,196,596) | (1,027,496) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 90,159 | $ 88,059 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | 3 Months Ended | |
May. 31, 2015 | Feb. 28, 2015 | |
Accounts receivable, allowance for doubtful accounts | $ 0 | $ 0 |
Fixed assets, accumulated depreciation | 16,499 | 11,874 |
Current portion of convertible notes payable, discount | 243,199 | 380,949 |
Noncurrent portion of convertible notes payable, discount | $ 556,372 | $ 500,339 |
Common stock, par value per share | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 480,000,000 | 480,000,000 |
Common stock, shares issued | 1,365,593 | 75,360 |
Common stock, shares outstanding | 1,365,593 | 75,360 |
Reverse stock split, description | On March 5, 2015, the Company effected a 500-for-1 reverse split. All share and per share amounts have been restated to reflect the reverse split. | |
Series E Preferred Stock [Member] | ||
Preferred stock, par value per share | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
May. 31, 2015 | May. 31, 2014 | |
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract] | ||
REVENUE | $ 2,250 | |
COST OF GOODS SOLD | ||
GROSS PROFIT | $ 2,250 | |
OPERATING EXPENSES | ||
Expenses related to joint ventures and other business development agreements | $ 23,786 | |
General and administrative expenses | $ 151,994 | 198,799 |
Operating Loss | (149,744) | (222,585) |
OTHER INCOME (EXPENSE) | ||
Interest expense | (187,639) | (61,900) |
Income from Continuing Operations | $ (337,383) | (284,485) |
Loss from discontinued operations | (14,276) | |
NET LOSS | $ (337,383) | $ (298,761) |
NET LOSS PER COMMON SHARE - Basic and diluted | ||
Continuing operations | $ (0.43) | $ (5.79) |
Discontinued operations | (0.29) | |
Net loss per common share | $ (0.43) | $ (6.08) |
COMMON SHARES OUTSTANDING - Basic and diluted | 791,944 | 49,117 |
CONSOLIDATED STATEMENTS OF OPE5
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) | 3 Months Ended |
May. 31, 2015 | |
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract] | |
Reverse stock split, description | On March 5, 2015, the Company effected a 500-for-1 reverse split. All share and per share amounts have been restated to reflect the reverse split. |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) - 3 months ended May. 31, 2015 - USD ($) | Total | Common Stock [Member] | Preferred Stock [Member]Series E [Member] | Additional Paid In Capital [Member] | Accumulated Deficit [Member] |
Balance at Feb. 28, 2015 | $ (1,027,496) | $ 75 | $ 1,000 | $ 5,351,237 | $ (6,379,808) |
Balance, shares at Feb. 28, 2015 | 75,360 | 1,000,000 | |||
Shares issued for conversion of notes payable | 102,900 | $ 1,290 | 101,610 | ||
Shares issued for conversion of notes payable, shares | 1,290,000 | ||||
Discount on issuance of convertible note payable | $ 65,383 | 65,383 | |||
Share rounding on reincorporation | $ 1 | $ (1) | |||
Share rounding on reincorporation, shares | 233 | ||||
Net Loss | $ (337,383) | $ (337,383) | |||
Balance at May. 31, 2015 | $ (1,196,596) | $ 1,366 | $ 1,000 | $ 5,518,229 | $ (6,717,191) |
Balance, shares at May. 31, 2015 | 1,365,593 | 1,000,000 |
CONSOLIDATED STATEMENT OF CHAN7
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) (Parenthetical) | 3 Months Ended |
May. 31, 2015 | |
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT [Abstract] | |
Reverse stock split, description | On March 5, 2015, the Company effected a 500-for-1 reverse split. All share and per share amounts have been restated to reflect the reverse split. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
May. 31, 2015 | May. 31, 2014 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net Loss | $ (337,383) | $ (298,761) |
Add: loss from discontinued operations | (14,276) | |
Loss from continuing operations | $ (337,383) | (284,485) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization of discount on convertible notes payable | 147,100 | 36,337 |
Depreciation | $ 4,625 | 544 |
Preferred stock issued for services | $ 100,000 | |
Changes in operating assets and liabilities: | ||
Accounts receivable and accrued revenue | $ (2,250) | |
Prepaid expenses | $ (11,469) | |
Accounts payable and accrued liabilities | $ 88,502 | 44,200 |
Accounts payable to related party | 3,423 | |
Accrued interest payable | $ 39,874 | 25,300 |
Operating assets and liabilities of discontinued operations | (15,000) | |
NET CASH USED IN OPERATING ACTIVITIES | $ (59,532) | (101,150) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from advances | 65,383 | 105,630 |
Repayments of capital lease obligation | (1,376) | (416) |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 64,007 | 105,214 |
NET INCREASE (DECREASE) IN CASH | 4,475 | 4,064 |
CASH, at the beginning of the period | 2,679 | 30,183 |
CASH, at the end of the period | $ 7,154 | $ 34,247 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid during the period for: Interest | ||
Cash paid during the period for: Taxes | ||
Noncash investing and financing transactions: | ||
Refinancing of advances into convertible notes payable | $ 65,383 | |
Beneficial conversion on convertible note payable | 65,383 | |
Conversion of convertible notes payable | $ 102,900 | $ 34,800 |
Automobile acquired under for lease | $ 32,004 |
CONSOLIDATED STATEMENTS OF CAS9
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) | 3 Months Ended |
May. 31, 2015 | |
CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract] | |
Reverse stock split, description | On March 5, 2015, the Company effected a 500-for-1 reverse split. All share and per share amounts have been restated to reflect the reverse split. |
General Organization and Busine
General Organization and Business | 3 Months Ended |
May. 31, 2015 | |
General Organization and Business [Abstract] | |
General Organization and Business | Note 1. General Organization and Business On the Move Systems Corp. (we, us, our, OMVS, or the Company) was incorporated in Nevada on March 25, 2010. We reincorporated into Nevada on February 17, 2015. Our business focus is transportation services. We are currently exploring the on-demand logistics market by developing a network of logistics partnerships. Our year-end is February 28. The company is located at 701 N. Green Valley Parkway, Suite 200, Henderson, NV 89074. Our telephone number is (702) 990-3271. On March 25, 2011, Crawford Mobile Installation Corp. (CMIC), a wholly owned subsidiary of the Company acquired all of the assets and assumed certain liabilities of Crawford Mobile Install (CMI), a provider of mobile electronics for vehicles. We disposed of this business on September 1, 2014. Joint Ventures On February 11, 2014, the Company signed a joint venture agreement with The Xperience to offer fantasy travel packages beginning with auto racing events. OMVS has committed to fund up to $ 30,000 40 Additionally, during the three months ended May 31, 2015, we spent $ 9,206 |
Going Concern
Going Concern | 3 Months Ended |
May. 31, 2015 | |
Going Concern [Abstract] | |
Going Concern | Note 2. Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. 337,383 59,532 1,118,189 We will need to obtain loans or other financing in order to fund operating shortfalls and do not foresee a change in this situation in the immediate future. There can be no assurance that we will be able to obtain these loans or that they will be available to us on terms that are acceptable to the Company. We will not be able to continue operations without them. We are pursuing alternate sources of financing, but there is no assurance that additional capital will be available to the Company when needed or on acceptable terms. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
May. 31, 2015 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 3. Summary of Significant Accounting Policies Interim Financial Statements These unaudited financial statements have been prepared in accordance with generally accepted accounting (GAAP) principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended February 28, 2015 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the SEC). The results of operations for the three month period ended May 31, 2015 are not necessarily indicative of the results to be expected for the full fiscal year ending February 29, 2016. Principles of Consolidation The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, On the Move Experience, LLC and OMV Transports, LLC. Intercompany transactions have been eliminated in consolidation. The fiscal year-end for the Company and its subsidiaries is February 28. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
May. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 4. Related Party Transactions Our officers and are involved in other business activities and may, in the future, become involved in other business opportunities that become available. They may face a conflict in selecting between the Company and other business interests. We have not formulated a policy for the resolution of such conflicts. Conversion of Related Party Convertible Note On April 1, 2015, Panama iPhone Corp. (formerly Masclo Investment Corporation) converted $ 100,000 1,000,000 66,889 Services Provided by KM Delaney & Assoc. During the three months ended May 31, 2015 and 2014, KM Delaney & Assoc (KMDA) has provide office space and certain administrative functions to us. The services provide include a furnished executive suite, use of office equipment and supplies, accounting and bookkeeping services, treasury and cash management services, financial reporting, and other support staffing requirements. As part of the services provided to the Company, KMDA receives the advances from the lender (See note 9) and disburses those funds to us. During the three months ended May 31, 2015 and 2014, KMDA billed us $ 73,119 43,445 217,589 217,589 |
Advances
Advances | 3 Months Ended |
May. 31, 2015 | |
Advances [Abstract] | |
Advances | Note 5. Advances During the three months ended May 31, 2015, the Company received unsecured advances from Vista View Ventures Inc. totaling $ 65,383 On May 31, 2015 65,383 May 31, 2017 10 1.00 At May 31, 2015 and February 28, 2015, the Company owed Vista View Ventures Inc. $ 0 0 |
Convertible Notes Payable
Convertible Notes Payable | 3 Months Ended |
May. 31, 2015 | |
Convertible Notes Payable [Abstract] | |
Convertible Notes Payable | Note 6 Convertible notes payable consist of the following as of May 31, 2015 and February 28, 2015: Issued Maturity Interest Rate Conversion Rate per Balance Balance February 28, 2011 February 27, 2013 7 $ 0.015 $ 32,600 $ 32,600 January 31, 2013 February 28, 2015 10 $ 0.01 138,395 138,395 May 31, 2013 May 31, 2015 10 $ 0.01 261,595 261,595 November 30, 2013 November 30, 2015 10 $ 0.01 396,958 396,958 August 31, 2014 August 31, 2016 10 $ 0.002 355,652 355,652 November 30, 2014 November 30, 2016 10 $ 0.002 103,950 103,950 February 28, 2015 February 28, 2017 10 $ 0.001 63,357 63,357 May 31, 2015 May 31, 2017 10 $ 1.00 65,383 Total convertible notes payable 1,417,890 1,352,507 Less: current portion of convertible notes payable (829,548 ) (829,548 ) Less: discount on noncurrent convertible notes payable (556,372 ) (500,339 ) Long-term convertible notes payable, net of discount $ 31,970 $ 22,620 Current portion of convertible notes payable 829,548 829,548 Less: discount on current portion of convertible notes payable (243,199 ) (380,949 ) Current portion of convertible notes payable, net of discount $ 586,349 $ 448,599 All of the notes above are unsecured. The note dated February 28, 2011 is currently is in default and bears default interest at 18% per annum. On May 31, 2015, the Company refinanced $ 65,383 10 1.00 The Company evaluated the terms of the notes in accordance with ASC Topic No. 815 40, Derivatives and Hedging - Contracts in Entity's Own Stock 65,383 277.49 147,100 36,337 During three months ended May 31, 2015, the holders of the Convertible Note Payable dated January 31, 2013 elected to convert principal and accrued interest in the amounts show below into shares of common stock at a rate of $ 0.01 No Date Amount Converted Number of Shares Issued April 22, 2015 $ 500 50,000 April 23, 2015 500 50,000 May 20, 2015 1,650 165,000 May 21, 2015 250 25,000 Total $ 2,900 290,000 |
Convertible Notes Payable to Re
Convertible Notes Payable to Related Party | 3 Months Ended |
May. 31, 2015 | |
Convertible Notes Payable to Related Parties [Abstract] | |
Convertible Notes Payable to Related Parties | Note 7. Convertible Notes Payable to Related Party Convertible notes payable to related parties consist of the following at May 31, 2015 and February 28, 2015: Issued Maturity Interest Conversion Balance Balance January 31, 2015 February 28, 2017 10 $ 0.10 $ 66,889 $ 164,190 Total convertible notes payable to related party 66,889 164,190 Less: current portion of related party convertible notes payable Less: discount on noncurrent related party convertible notes payable Long-term convertible notes payable to related party, net of discount $ 66,889 $ 164,190 On January 31, 2015, we issued a convertible note payable for $ 164,190 10 0.10 The Company evaluated the terms of the notes in accordance with ASC Topic No. 815 40, Derivatives and Hedging - Contracts in Entity's Own Stock no |
Debt Payment Obligations
Debt Payment Obligations | 3 Months Ended |
May. 31, 2015 | |
Debt Payment Obligations [Abstract] | |
Debt Payment Obligations | Note 8. Debt Payment Obligations Twelve months ended May 31, 2016 2017 2018 2019 2020 Total Convertible notes $ 829,548 $ 588,342 $ $ $ $ 1,417,890 Convertible notes to related party 66,889 66,889 Capital lease 5,777 6,384 7,057 7,131 26,349 Total $ 835,325 $ 661,615 $ 7,057 $ 7,131 $ $ 1,511,128 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
May. 31, 2015 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | Note 9. Stockholders' Equity Conversion of convertible notes payable During three months ended May 31, 2015, the holders of our convertible notes elected to convert principal and interest into shares of common stock as detailed below: Date Amount Converted Number of Shares Issued April 22, 2015 $ 500 50,000 April 23, 2015 500 50,000 May 20, 2015 1,650 165,000 May 21, 2015 250 25,000 Total $ 2,900 290,000 Conversion of Related Party Convertible Note On April 1, 2015 100,000 1,000,000 66,889 |
Subsequent Events
Subsequent Events | 3 Months Ended |
May. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 10. Subsequent Events On June 11, 2015 600 60,000 0.01 On June 19, 2015 400 40,000 0.01 On June 25, 2015 68,447 684,467 0.10 On July 1, 2015 1,200 120,000 0.01 On July 10, 2015 450 45,000 0.01 |
Summary of Significant Accoun20
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
May. 31, 2015 | |
Summary of Significant Accounting Policies [Abstract] | |
Interim Financial Statements | Interim Financial Statements These unaudited financial statements have been prepared in accordance with generally accepted accounting (GAAP) principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended February 28, 2015 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the SEC). The results of operations for the three month period ended May 31, 2015 are not necessarily indicative of the results to be expected for the full fiscal year ending February 29, 2016. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, On the Move Experience, LLC and OMV Transports, LLC. Intercompany transactions have been eliminated in consolidation. The fiscal year-end for the Company and its subsidiaries is February 28. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Convertible Notes Payable (Tabl
Convertible Notes Payable (Tables) | 3 Months Ended |
May. 31, 2015 | |
Convertible Notes Payable [Abstract] | |
Schedule of Convertible Notes Payable | Issued Maturity Interest Rate Conversion Rate per Balance Balance February 28, 2011 February 27, 2013 7 $ 0.015 $ 32,600 $ 32,600 January 31, 2013 February 28, 2015 10 $ 0.01 138,395 138,395 May 31, 2013 May 31, 2015 10 $ 0.01 261,595 261,595 November 30, 2013 November 30, 2015 10 $ 0.01 396,958 396,958 August 31, 2014 August 31, 2016 10 $ 0.002 355,652 355,652 November 30, 2014 November 30, 2016 10 $ 0.002 103,950 103,950 February 28, 2015 February 28, 2017 10 $ 0.001 63,357 63,357 May 31, 2015 May 31, 2017 10 $ 1.00 65,383 Total convertible notes payable 1,417,890 1,352,507 Less: current portion of convertible notes payable (829,548 ) (829,548 ) Less: discount on noncurrent convertible notes payable (556,372 ) (500,339 ) Long-term convertible notes payable, net of discount $ 31,970 $ 22,620 Current portion of convertible notes payable 829,548 829,548 Less: discount on current portion of convertible notes payable (243,199 ) (380,949 ) Current portion of convertible notes payable, net of discount $ 586,349 $ 448,599 |
Schedule of Conversion of Convertible Notes Payable | Date Amount Converted Number of Shares Issued April 22, 2015 $ 500 50,000 April 23, 2015 500 50,000 May 20, 2015 1,650 165,000 May 21, 2015 250 25,000 Total $ 2,900 290,000 |
Convertible Notes Payable to 22
Convertible Notes Payable to Related Party (Tables) | 3 Months Ended |
May. 31, 2015 | |
Convertible Notes Payable to Related Parties [Abstract] | |
Schedule of Convertible Notes Payable to Related Parties | Issued Maturity Interest Conversion Balance Balance January 31, 2015 February 28, 2017 10 $0.10 $ 66,889 $ 164,190 Total convertible notes payable to related party 66,889 164,190 Less: current portion of related party convertible notes payable Less: discount on noncurrent related party convertible notes payable Long-term convertible notes payable to related party, net of discount $ 66,889 $ 164,190 |
Debt Payment Obligations (Table
Debt Payment Obligations (Tables) | 3 Months Ended |
May. 31, 2015 | |
Debt Payment Obligations [Abstract] | |
Schedule of Debt Payment Obligations | Twelve months ended May 31, 2016 2017 2018 2019 2020 Total Convertible notes $ 829,548 $ 588,342 $ $ $ $ 1,417,890 Convertible notes to related party 66,889 66,889 Capital lease 5,777 6,384 7,057 7,131 26,349 Total $ 835,325 $ 661,615 $ 7,057 $ 7,131 $ $ 1,511,128 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
May. 31, 2015 | |
Stockholders' Equity [Abstract] | |
Schedule of Conversion of Convertible Notes Payable | Date Amount Converted Number of Shares Issued April 22, 2015 $ 500 50,000 April 23, 2015 500 50,000 May 20, 2015 1,650 165,000 May 21, 2015 250 25,000 Total $ 2,900 290,000 |
General Organization and Busi25
General Organization and Business (Narrative) (Details) - May. 31, 2015 - The Xperience [Member] - Joint Venture [Member] - USD ($) | Total |
Business Acquisition [Line Items] | |
Maximum payments committed to fund joint venture | $ 30,000 |
The percent of allocated earnings and losses per joint venture agreement | 40.00% |
Payments funded to joint venture | |
Expenses related to preparing our race car | $ 9,206 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 3 Months Ended | |
May. 31, 2015 | May. 31, 2014 | |
Going Concern [Abstract] | ||
Net loss | $ 337,383 | $ 298,761 |
Negative cash flows from operations | 59,532 | $ 101,150 |
Negative working capital | $ 1,118,189 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 3 Months Ended | ||
May. 31, 2015 | May. 31, 2014 | Feb. 28, 2015 | |
Related Party Transaction [Line Items] | |||
Convertible note payable to related party | $ 66,889 | $ 164,190 | |
Accounts payable and accrued expenses | 396,344 | 307,842 | |
Amount Converted | $ 102,900 | $ 34,800 | |
Conversion of Related Party Convertible Note [Member] | |||
Related Party Transaction [Line Items] | |||
Date | Apr. 1, 2015 | ||
Amount Converted | $ 100,000 | ||
Number of Shares Issued | 1,000,000 | ||
KM Delaney And Assoc. [Member] | |||
Related Party Transaction [Line Items] | |||
Service expense | $ 73,119 | $ 43,445 | |
Accounts payable and accrued expenses | $ 217,589 | $ 217,589 |
Advances (Details)
Advances (Details) - USD ($) | 3 Months Ended | ||
May. 31, 2015 | May. 31, 2014 | Feb. 28, 2015 | |
Advances [Abstract] | |||
Proceeds from advances | $ 65,383 | $ 105,630 | |
Advances payable | 0 | $ 0 | |
Debt Instrument [Line Items] | |||
Refinancing of advances into convertible notes payable | 65,383 | ||
May 31, 2015 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Refinancing of advances into convertible notes payable | $ 65,383 | ||
Issued | May 31, 2015 | ||
Maturity | May 31, 2017 | ||
Interest rate | 10.00% | ||
Conversion Rate per Share | $ 1 |
Convertible Notes Payable (Sche
Convertible Notes Payable (Schedule of Convertible Notes Payable) (Details) - USD ($) | 3 Months Ended | ||
May. 31, 2015 | May. 31, 2014 | Feb. 28, 2015 | |
Debt Instrument [Line Items] | |||
Refinancing of advances into convertible notes payable | $ 65,383 | ||
Total convertible notes payable | 1,417,890 | $ 1,352,507 | |
Less: current portion of convertible notes payable | (829,548) | (829,548) | |
Less: discount on noncurrent convertible notes payable | (556,372) | (500,339) | |
Long-term convertible notes payable, net of discount | 31,970 | 22,620 | |
Current portion of convertible notes payable | 829,548 | 829,548 | |
Less: discount on current portion of convertible notes payable | (243,199) | (380,949) | |
Current portion of convertible notes payable, net of discount | 586,349 | 448,599 | |
Beneficial conversion feature recognized | $ 65,383 | ||
Effective interest rate for discount amortization | 277.49% | ||
Amortized beneficial conversion discounts to interest expense | $ 147,100 | $ 36,337 | |
February 28, 2011 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable | $ 32,600 | 32,600 | |
Issued | Feb. 28, 2011 | ||
Maturity | Feb. 27, 2013 | ||
Interest Rate | 7.00% | ||
Conversion Rate per Share | $ 0.015 | ||
January 31, 2013 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable | $ 138,395 | 138,395 | |
Issued | Jan. 31, 2013 | ||
Maturity | Feb. 28, 2015 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 0.01 | ||
May 31, 2013 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable | $ 261,595 | 261,595 | |
Issued | May 31, 2013 | ||
Maturity | May 31, 2015 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 0.01 | ||
November 30, 2013 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable | $ 396,958 | 396,958 | |
Issued | Nov. 30, 2013 | ||
Maturity | Nov. 30, 2015 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 0.01 | ||
August 31, 2014 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable | $ 355,652 | 355,652 | |
Issued | Aug. 31, 2014 | ||
Maturity | Aug. 31, 2016 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 0.002 | ||
November 30, 2014 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable | $ 103,950 | 103,950 | |
Issued | Nov. 30, 2014 | ||
Maturity | Nov. 30, 2016 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 0.002 | ||
February 28, 2015 Convertible Promissory Note | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable | $ 63,357 | $ 63,357 | |
Issued | Feb. 28, 2015 | ||
Maturity | Feb. 28, 2017 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 0.001 | ||
May 31, 2015 Convertible Promissory Note [Member] | |||
Debt Instrument [Line Items] | |||
Refinancing of advances into convertible notes payable | $ 65,383 | ||
Total convertible notes payable | $ 65,383 | ||
Issued | May 31, 2015 | ||
Maturity | May 31, 2017 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 1 |
Convertible Notes Payable (Sc30
Convertible Notes Payable (Schedule of Conversion of Convertible Notes Payable) (Details) - USD ($) | 3 Months Ended | |
May. 31, 2015 | May. 31, 2014 | |
Debt Conversion [Line Items] | ||
Amount Converted | $ 102,900 | $ 34,800 |
January 31, 2013 Convertible Promissory Note [Member] | ||
Debt Conversion [Line Items] | ||
Amount Converted | $ 2,900 | |
Number of Shares Issued | 290,000 | |
Conversion Rate per Share | $ 0.01 | |
January 31, 2013 Convertible Promissory Note [Member] | April 22, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | Apr. 22, 2015 | |
Amount Converted | $ 500 | |
Number of Shares Issued | 50,000 | |
January 31, 2013 Convertible Promissory Note [Member] | April 23, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | Apr. 23, 2015 | |
Amount Converted | $ 500 | |
Number of Shares Issued | 50,000 | |
January 31, 2013 Convertible Promissory Note [Member] | May 20, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | May 20, 2015 | |
Amount Converted | $ 1,650 | |
Number of Shares Issued | 165,000 | |
January 31, 2013 Convertible Promissory Note [Member] | May 21, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | May 21, 2015 | |
Amount Converted | $ 250 | |
Number of Shares Issued | 25,000 |
Convertible Notes Payable to 31
Convertible Notes Payable to Related Party (Details) - USD ($) | 3 Months Ended | ||
May. 31, 2015 | May. 31, 2014 | Feb. 28, 2015 | |
Debt Instrument [Line Items] | |||
Total convertible notes payable to related party | $ 66,889 | $ 164,190 | |
Less: current portion of related party convertible notes payable | |||
Less: discount on noncurrent related party convertible notes payable | |||
Long-term convertible notes payable to related party, net of discount | $ 66,889 | $ 164,190 | |
Beneficial conversion feature recognized | 65,383 | ||
Panama Iphone Corp. [Member] | |||
Debt Instrument [Line Items] | |||
Total convertible notes payable to related party | $ 66,889 | $ 164,190 | |
Issued | Jan. 31, 2015 | ||
Maturity | Feb. 28, 2017 | ||
Interest Rate | 10.00% | ||
Conversion Rate per Share | $ 0.10 | ||
Beneficial conversion feature recognized |
Debt Payment Obligations (Detai
Debt Payment Obligations (Details) | May. 31, 2015USD ($) |
Twelve months ended May 31, | |
2,016 | $ 835,325 |
2,017 | 661,615 |
2,018 | 7,057 |
2,019 | $ 7,131 |
2,020 | |
Total | $ 1,511,128 |
Convertible notes [Member] | |
Twelve months ended May 31, | |
2,016 | 829,548 |
2,017 | $ 588,342 |
2,018 | |
2,019 | |
2,020 | |
Total | $ 1,417,890 |
Convertible notes to related party [Member] | |
Twelve months ended May 31, | |
2,016 | |
2,017 | $ 66,889 |
2,018 | |
2,019 | |
2,020 | |
Total | $ 66,889 |
Capital lease [Member] | |
Twelve months ended May 31, | |
2,016 | 5,777 |
2,017 | 6,384 |
2,018 | 7,057 |
2,019 | $ 7,131 |
2,020 | |
Total | $ 26,349 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - USD ($) | 3 Months Ended | ||
May. 31, 2015 | May. 31, 2014 | Feb. 28, 2015 | |
Stockholders' Equity [Abstract] | |||
Convertible note payable to related party | $ 66,889 | $ 164,190 | |
Debt Conversion [Line Items] | |||
Amount Converted | $ 102,900 | $ 34,800 | |
Conversion of Related Party Convertible Note [Member] | |||
Debt Conversion [Line Items] | |||
Date | Apr. 1, 2015 | ||
Amount Converted | $ 100,000 | ||
Number of Shares Issued | 1,000,000 |
Stockholders' Equity (Schedule
Stockholders' Equity (Schedule of Conversion of Convertible Notes Payable) (Details) - USD ($) | 3 Months Ended | |
May. 31, 2015 | May. 31, 2014 | |
Debt Conversion [Line Items] | ||
Amount Converted | $ 102,900 | $ 34,800 |
January 31, 2013 Convertible Promissory Note [Member] | ||
Debt Conversion [Line Items] | ||
Amount Converted | $ 2,900 | |
Number of Shares Issued | 290,000 | |
January 31, 2013 Convertible Promissory Note [Member] | April 22, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | Apr. 22, 2015 | |
Amount Converted | $ 500 | |
Number of Shares Issued | 50,000 | |
January 31, 2013 Convertible Promissory Note [Member] | April 23, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | Apr. 23, 2015 | |
Amount Converted | $ 500 | |
Number of Shares Issued | 50,000 | |
January 31, 2013 Convertible Promissory Note [Member] | May 20, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | May 20, 2015 | |
Amount Converted | $ 1,650 | |
Number of Shares Issued | 165,000 | |
January 31, 2013 Convertible Promissory Note [Member] | May 21, 2015 [Member] | ||
Debt Conversion [Line Items] | ||
Date | May 21, 2015 | |
Amount Converted | $ 250 | |
Number of Shares Issued | 25,000 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 1 Months Ended | 3 Months Ended | |
Jul. 15, 2015 | May. 31, 2015 | May. 31, 2014 | |
Subsequent Event [Line Items] | |||
Amount Converted | $ 102,900 | $ 34,800 | |
January 31, 2013 Convertible Promissory Note [Member] | |||
Subsequent Event [Line Items] | |||
Amount Converted | $ 2,900 | ||
Number of Shares Issued | 290,000 | ||
Conversion Rate per Share | $ 0.01 | ||
Subsequent Event [Member] | January 31, 2013 Convertible Promissory Note [Member] | June 11, 2015 [Member] | |||
Subsequent Event [Line Items] | |||
Date | Jun. 11, 2015 | ||
Amount Converted | $ 600 | ||
Number of Shares Issued | 60,000 | ||
Conversion Rate per Share | $ 0.01 | ||
Subsequent Event [Member] | January 31, 2013 Convertible Promissory Note [Member] | June 19, 2015 [Member] | |||
Subsequent Event [Line Items] | |||
Date | Jun. 19, 2015 | ||
Amount Converted | $ 400 | ||
Number of Shares Issued | 40,000 | ||
Conversion Rate per Share | $ 0.01 | ||
Subsequent Event [Member] | January 31, 2013 Convertible Promissory Note [Member] | June 25, 2015 [Member] | |||
Subsequent Event [Line Items] | |||
Date | Jun. 25, 2015 | ||
Amount Converted | $ 68,447 | ||
Number of Shares Issued | 684,467 | ||
Conversion Rate per Share | $ 0.10 | ||
Subsequent Event [Member] | January 31, 2013 Convertible Promissory Note [Member] | July 1, 2015 [Member] | |||
Subsequent Event [Line Items] | |||
Date | Jul. 1, 2015 | ||
Amount Converted | $ 1,200 | ||
Number of Shares Issued | 120,000 | ||
Conversion Rate per Share | $ 0.01 | ||
Subsequent Event [Member] | January 31, 2013 Convertible Promissory Note [Member] | July 10, 2015 [Member] | |||
Subsequent Event [Line Items] | |||
Date | Jul. 10, 2015 | ||
Amount Converted | $ 450 | ||
Number of Shares Issued | 45,000 | ||
Conversion Rate per Share | $ 0.01 |