Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 20, 2013 | Mar. 29, 2013 | |
Document And Entity Information | ' | ' | ' |
Entity Registrant Name | 'Solo International, Inc. | ' | ' |
Entity Central Index Key | '0001501845 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
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 | ' | ' | $573,300 |
Entity Common Stock, Shares Outstanding | ' | 288,200,000 | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Balance_Sheets
Balance Sheets (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Current | ' | ' |
Cash | ' | $44,561 |
Prepaid expense | 1,097 | 4,593 |
Total Current Assets | 1,097 | 49,154 |
Total Assets | 1,097 | 49,154 |
Current liabilities | ' | ' |
Accounts payable and accrued liabilities | 113,006 | 29,592 |
Accounts payable and accrued liabilities, related party | 2,500 | ' |
Advances from related parties | 6,417 | 6,417 |
Convertible promissory notes, net (Note 5) | 503,670 | 321,421 |
Total Current Liabilities | 625,593 | 357,430 |
STOCKHOLDERS EQUITY (DEFICIENCY) | ' | ' |
Common stock: 900,000,000 shares authorized, at $0.001 par value 288,200,000 shares issued and outstanding as at September 30, 2013 and 2012 | 288,200 | 288,200 |
Capital in excess of par value | 48,157 | 8,351 |
Deficit accumulated during the exploration stage | -960,853 | -604,827 |
Total Stockholders Equity (Deficiency) | -624,496 | -308,276 |
Total Liabilities and Stockholders Equity (Deficiency) | $1,097 | $49,154 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 900,000,000 | 900,000,000 |
Common stock, shares issued | 288,200,000 | 288,200,000 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 41 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |||
Income Statement [Abstract] | ' | ' | ' | ||
REVENUE | ' | ' | ' | ||
EXPENSES | ' | ' | ' | ||
Exploration expense | 17,630 | 17,815 | 35,445 | ||
Professional fees | 65,316 | 63,032 | 141,648 | ||
Management fees | 32,500 | 30,000 | 62,500 | ||
Impairment on mineral claims | ' | 225,000 | 225,000 | ||
Other general and administrative expenses | 65,068 | 60,133 | 137,975 | ||
OPERATING LOSS | -180,514 | -395,980 | -602,568 | ||
OTHER INCOME (EXPENSES) | ' | ' | ' | ||
Interest expenses | -175,512 | -182,773 | -358,285 | ||
NET LOSS | ($356,026) | ($578,753) | ($960,853) | ||
Basic and diluted loss per share | $0 | [1] | $0 | [1] | ' |
Weighted average number of shares outstanding, basic and diluted | 288,200,000 | 338,625,683 | ' | ||
[1] | *Less than $0.01 per share |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 41 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net loss | ($356,026) | ($578,753) | ($960,853) |
Interest expense, amortization on discount of convertible promissory notes | 127,055 | 155,772 | 282,827 |
Impairment on mineral claims | ' | 225,000 | 225,000 |
Adjustment to reconcile net loss to net cash (used in) operating activities: | ' | ' | ' |
(Increase) decrease in prepaid expense | 3,496 | -3,760 | -1,097 |
Increase (decrease) in accounts payable and accrued liabilities | 85,914 | 29,492 | 115,506 |
Net cash provided by (used) in operating activities | -139,561 | -172,249 | -338,617 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Purchase mineral claims | ' | -205,000 | -205,000 |
Net cash used in investing activities | ' | -205,000 | -205,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Advances from related party | ' | 1,778 | 6,417 |
Proceeds from convertible notes payable | 95,000 | 420,000 | 515,000 |
Proceeds from issuance of common stock | ' | ' | 22,200 |
Net cash provided by financing activities | 95,000 | 421,778 | 543,617 |
Increase (decrease) in cash during the period | -44,561 | 44,529 | ' |
Cash, beginning of period | 44,561 | 32 | ' |
Cash, end of period | ' | 44,561 | ' |
Supplement cash flow information: | ' | ' | ' |
Cash paid for: Interest | ' | ' | ' |
Cash paid for: Taxes | ' | ' | ' |
Non-cash transactions: | ' | ' | ' |
Shares issued for acquisition of mineral property | ' | 20,000 | 20,000 |
Shareholders_Equity
Shareholders Equity (USD $) | Common Stock | Capital in Excess of Par Value | Accumulated Deficit during the Development Stage | Total |
Beginning balance, amount at Apr. 29, 2010 | $0 | $0 | $0 | $0 |
Beginning balance, shares at Apr. 29, 2010 | 0 | 0 | 0 | 0 |
Issuance of common shares for cash, shares | 300,000,000 | ' | ' | ' |
Issuance of common shares for cash, amount | 300,000 | -297,000 | ' | 3,000 |
Issuance of common shares for cash, shares | 72,000,000 | ' | ' | ' |
Issuance of common shares for cash, amount | 72,000 | 57,600 | ' | 14,400 |
Issuance of common shares for cash, shares | 16,000,000 | ' | ' | ' |
Issuance of common shares for cash, amount | 16,000 | -11,200 | ' | 4,800 |
Net loss for the period | ' | ' | -714 | -714 |
Ending balance, amount at Sep. 30, 2010 | 388,000 | -365,800 | -714 | 21,486 |
Ending balance, shares at Sep. 30, 2010 | 388,000,000 | ' | ' | ' |
Net loss for the period | ' | ' | -25,360 | -25,360 |
Ending balance, amount at Sep. 30, 2011 | 388,000 | -365,800 | -26,074 | -3,874 |
Beginning balance, shares at Sep. 30, 2011 | 388,000,000 | ' | ' | ' |
Beneficial Conversion Features | ' | 191,176 | ' | 191,176 |
Valuation of Warrants | ' | 57,175 | ' | 57,175 |
Stock returned to treasury, shares | -100,000,000 | ' | ' | ' |
Stock returned to treasury, amount | -100,000 | 100,000 | ' | ' |
Issuance of common shares for acquisition of mineral property, shares | 200,000 | ' | ' | ' |
Issuance of common shares for acquisition of mineral property, amount | 200 | 19,800 | ' | 20,000 |
Net loss for the period | ' | ' | -578,753 | -578,753 |
Ending balance, amount at Sep. 30, 2012 | 288,200 | 8,351 | -604,827 | -308,276 |
Ending balance, shares at Sep. 30, 2012 | 288,200,000 | ' | ' | ' |
Beneficial Conversion Features | ' | 35,736 | ' | 35,736 |
Valuation of Warrants | ' | 4,070 | ' | 4,070 |
Net loss for the period | ' | ' | -356,026 | -356,026 |
Ending balance, amount at Sep. 30, 2013 | $288,200 | $48,157 | ($960,853) | ($624,496) |
Ending balance, shares at Sep. 30, 2013 | 288,200,000 | ' | ' | ' |
Organization
Organization | 12 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Note 1 - Organization | ' |
1. ORGANIZATION | |
SOLO INTERNATIONAL, INC. was founded in the State of Nevada on April 30, 2010 as a Poland based corporation intending to provide services in interior architectural design in Poland. | |
On October 12, 2011, Mr. Michel Plante acquired control of three million (3,000,000) pre-split shares of the Company’s issued and outstanding common stock, representing approximately 77.32% of the Company’s total issued and outstanding common stock, from Mr. Yury Shcharbakou in accordance with a stock purchase agreement by and between Mr. Plante and Mr. Shcharbakou, thus effecting a change in control of the Company. | |
On October 13, 2011, the Board of Directors of the Company authorized a forward split of its issued and outstanding common shares, whereby every one (1) old share of common stock will be exchanged for one hundred (100) new shares of the Company's common stock. | |
The effect of the stock split has been recognized retroactively in the stockholders’ deficit accounts as of April 30, 2010, and in all shares and per share data in the financial statements. | |
With the change in control of the Company, management determined not to pursue its operations in Poland and determined to enter into the mining business in the Province of Quebec and incorporated a wholly-owned Quebec subsidiary, 9252-4768 Quebec Inc. On November 15, 2011, the Company, through its wholly-owned Quebec subsidiary, entered into a Property Option Agreement with 9228-6202 Quebec Inc., a Quebec corporation. Pursuant to the Option Agreement, 9252-4768 Quebec Inc. acquired the exclusive option to acquire an undivided 100% right, title and interest in and to certain mineral claims located in Portland Township, Outaouais, Quebec subject to a royalty reserved to 9228-6202 Quebec Inc. | |
The Company is an Exploration Stage Company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC") 915, Development Stage Entities. The Company's principal business is the acquisition and exploration of mineral resources. The Company has not presently determined whether its properties contain mineral reserves that are economically recoverable. | |
Since Inception (April 30, 2010) through September 30, 2013, the Company has not generated any revenue and has an accumulated deficit of $960,853. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Note 2 - Summary of Significant Accounting Policies | ' | |
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Basis of Presentation | ||
The unaudited interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim consolidated financial information and pursuant to the rules and regulations of the SEC. Accordingly; they do not include all the information and footnotes required by GAAP for complete consolidated financial statements. However, management believes that the disclosures made are adequate to make the information not misleading. Management has evaluated subsequent events through the date the financial statements were issued. | ||
Going Concern | ||
The consolidated financial statements have been prepared on a going concern basis that assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $960,853 as of September 30, 2013 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. The ability to continue as a going concern is dependent upon the Company generating 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 intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock. These financials do not include any adjustments relating to the recoverability and reclassification of recorded asset amounts, or amounts and classifications of liabilities that might result from this uncertainty. | ||
Cash and Cash equivalents | ||
For purposes of Statement of Cash Flows, the Company considers all highly liquid debt instruments purchased with a maturity date of six months or less to be cash equivalents. | ||
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 period. Actual results could differ from those estimates. | ||
Foreign Currency Translation | ||
The Company's functional currency and its reporting currency is the United States dollar. | ||
Fair Value of Financial Instruments | ||
The carrying value of cash and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. | ||
Income Taxes | ||
The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | ||
Basic and Diluted Loss Per Share | ||
Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. | ||
The Company had the following potential common stock equivalents at September 30, 2013: | ||
Warrants | 12,000,000 | |
Since the Company reflected a net loss in fiscal years 2013 and 2012, respectively, the effect of considering any common stock equivalents, if outstanding, would have been anti-dilutive. A separate computation of diluted earnings (loss) per share is not presented. | ||
Stock-based Compensation | ||
The Company records stock based compensation in accordance with the guidance in ASC Topic 718, which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | ||
Mineral Property Costs | ||
Mineral exploration and development costs are accounted for using the successful efforts method of accounting. | ||
Property acquisition costs - Mineral property acquisition costs are capitalized as mineral exploration properties. Upon achievement of all conditions necessary for reserves to be classified as proved, the associated acquisition costs are reclassified to prove properties | ||
Exploration costs - Geological and geophysical costs and the costs of carrying and retaining undeveloped properties are expensed as incurred. | ||
Impairment of Mineral Properties | ||
Unproved mineral properties are assessed at each reporting period for impairment of value, and a loss is recognized at the time of the impairment by providing an impairment allowance. An asset would be impaired if the undiscounted cash flows were less than its carrying value. Impairments are measured by the amount by which the carrying value exceeds its fair value. Because the Company uses the successful efforts method, the Company assesses its properties individually for impairment, instead of on an aggregate pool of costs. Impairment of unproved properties is based on the facts and circumstances surrounding each lease and is recognized based on management’s evaluation. Management’s evaluation follows a two-step process where (1) recoverability of the carrying value of the asset is reviewed to determine if there is sufficient value recoverable to support the capitalized value at the report date; and, (2) If assets fail the recoverability test, impairment testing is conducted, including the evaluation of various criteria such as: prior history of successful operations; production currently in place and/or future projected cash flows (if any); reserve reports or evaluations from which management can prepare future cash flow analyses; the Company’s ability to monetize the asset(s) under evaluation; and, Management’s intent regarding future development. | ||
Beneficial Conversion Feature | ||
From time to time, the Company may issue convertible notes that may have conversion prices that create an embedded beneficial conversion feature pursuant to the Emerging Issues Task Force guidance on beneficial conversion features. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of any attached equity instruments, if any related equity instruments were granted with the debt. In accordance with this guidance, the intrinsic value of the beneficial conversion feature is recorded as a debt discount with a corresponding amount to additional paid in capital. The debt discount is amortized to interest expense over the life of the note using the effective interest method. |
Mineral_Property
Mineral Property | 12 Months Ended | |
Sep. 30, 2013 | ||
Extractive Industries [Abstract] | ' | |
Note 3 - Mineral Property Option Agreement | ' | |
3. MINERAL PROPERTY | ||
On November 15, 2011, the Company through its wholly-owned Quebec subsidiary, 9252-4768 Quebec Inc., entered into a Property Option Agreement with 9228-6202 Quebec Inc., a Quebec corporation (the “Optionor”). Pursuant to the option agreement, the Company received the exclusive option to acquire an undivided 100% right, title and interest in and to certain mineral claims located in Portland Township, Outaouais, Quebec subject to a royalty reserved to the Optionor. To fully exercise the option and acquire an undivided 100% right, title and interest in and to the Property, the Company was required to: 1) pay an aggregate sum of two hundred and five thousand dollars ($205,000) to Optionor; 2) incur an aggregate of at least sixty-five thousand dollars ($65,000) of expenditures on or with respect to the Property; and 3) issue to Optionor an aggregate number of restricted shares of common stock of the Company equal to twenty thousand US dollars ($20,000). On, November 27, 2012, the Company’s wholly owned subsidiary, 9252-4768 Quebec Inc. entered into a second addendum to the original property option agreement with 9228-6202 Quebec Inc. whereby the parties acknowledged that 9252-4768 Quebec Inc. had earned its 100% right, title and interest in and to certain mineral claims, located in Portland Township, Outaouais, Quebec. The cash payments, expenditures and stock issuance were scheduled to be completed as follows: | ||
Cash Payments: | ||
The Company is required to pay the cash payments to Optionor, all of which have been paid as of September 30, 2013, in the following amounts and by the dates described below: | ||
i. | $50,000 within 2 business days of the execution of the Option Agreement | |
ii. | $70,000 within 30 days following the First Option Payment | |
iii. | $70,000 within 30 days following the Second Option Payment | |
iv. | $15,000 within 30 days following the Third Option Payment | |
Expenditures: | ||
During the fiscal year ended September 30, 2013, the Company expended a total of $17,630 (2012 - $17,815) as exploration expenses. | ||
Stock Issuances: | ||
The Company was required to issue an aggregate number of restricted shares of common stock of the Company equal to twenty thousand US dollars ($20,000) pursuant to the terms and conditions of the Property Option Agreement, The Company was required to issue the shares within 10 days of the completion of the forward split or no later than 90 days of execution of the Property Option Agreement. The Company issued the shares on May 8, 2012 and issued a total of 200,000 shares of common stock at a deemed price of $0.10 per share which was the first trading price of the stock after the completion of the forward split. | ||
The Company made cash payments in the amount of $205,000 and issued a total of 200,000 shares of common stock at a deemed price of $0.10 per share to 9228-6202 Quebec Inc. pursuant to the cash payment and stock payment schedule noted above, which amount was capitalized as option costs on the mineral property as of September 30, 2012. At the close of the period ended September 30, 2012, the Company evaluated the recoverability of the amount paid for the option and determined to impair the amount in full, as the Company is currently in the exploration phase, with no proven or probable reserves having yet been determined. | ||
On November 27, 2012, the Option Agreement was further amended to revise the requirement to expend the $65,000 on exploration expenditures to read that the Optionee has earned its 100% right and interest in the Property for the payment of all expenditures to November 27, 2012 and for allowing the Optionor to utilize a portion of the expenditures expended by the Optionee to apply to certain of the Optionor’s claims. The Company has transferred the title to the Property to its wholly owned subsidiary, 9252-4768 Quebec Inc. |
Note_4_Common_Stock
Note 4 - Common Stock | 12 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Note 4 - Common Stock | ' |
4. COMMON STOCK | |
The authorized capital of the Company is 900,000,000 common shares with a par value of $ 0.001 per share. | |
As of September 30, 2013, 288,200,000 common stock shares were issued and outstanding. |
Convertible_Promissory_Note_Ne
Convertible Promissory Note, Net | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Convertible Promissory Note, Net | ' | ||||||||||||
5. CONVERTIBLE PROMISSORY NOTE, NET | |||||||||||||
(i) | Craigstone Ltd. (“Craigstone”) | ||||||||||||
On November 4, 2011, the Company entered into a Securities Purchase Agreement with Craigstone pursuant to which the Company received $100,000 as a loan from Craigstone in exchange for one (1) Unit consisting of: a Convertible Promissory Note convertible to common stock in whole or in part, at any time and from time to time before maturity at the option of the holder at seventy-five percent (75%) of the average traded price of the common stock for the thirty (30) trading days immediately preceding the conversion date; and a three (3) year Warrant (the “Warrant”) to purchase two hundred fifty thousand (250,000) shares of the Company’s Common Stock exercisable at the lower of : (i) a price of $0.20 per share or (ii) seventy-five percent (75%) of the average traded price of common stock for the thirty (30) trading days immediately preceding the exercise date. The Note earns simple interest accruing at ten percent (10%) per annum and was due on or before the twelfth month anniversary of the date of execution. The due dates were extended as described further herein. | |||||||||||||
During the fiscal year ended September 30, 2012, the Company entered into additional Securities Purchase Agreements with Craigstone pursuant to which the Company received collectively $320,000 as loans whereby each funding received one (1) Unit consisting of: a Convertible Promissory Note convertible to common stock in whole or in part, at any time and from time to time before maturity at the option of the holder at seventy-five percent (75%) of the average traded price of the common stock for the thirty (30) trading days immediately preceding the conversion date; and a three (3) year Warrant (the “Warrant”). Collectively under the Securities Purchase Agreements, Craigstone was granted the rights to purchase seven hundred twelve thousand five hundred (712,500) shares of the Company’s Common Stock exercisable at the lower of : (i) a price of $0.20 per share or (ii) seventy-five percent (75%) of the average traded price of common stock for the thirty (30) trading days immediately preceding the exercise date. The Notes earn simple interest accruing at ten percent (10%) per annum and were due on or before the twelfth month anniversary of the date of execution. The due dates were extended as described further herein. | |||||||||||||
During the fiscal year ended September 30, 2013, the Company entered into three additional Securities Purchase Agreements with Craigstone pursuant to which the Company received a total of $45,000 as loans in exchange for which each funding received one (1) Unit consisting of a Convertible Promissory Note convertible to common stock in whole or in part, at any time and from time to time before maturity at the option of the holder at seventy-five percent (75%) of the average traded price of the common stock for the thirty (30) trading days immediately preceding the conversion date; and collectively received a three (3) year Warrant (the “Warrant”) to purchase one hundred twelve thousand five hundred (112,500) shares of the Company’s Common Stock exercisable at the lower of: (i) a price of $0.20 per share or (ii) seventy-five percent (75%) of the average traded price of common stock for the thirty (30) trading days immediately preceding the exercise date. The Notes earn simple interest accruing at ten percent (10%) per annum and is due on or before the twelfth month anniversary of the date of execution. | |||||||||||||
The beneficial conversion feature resulting from the discounted conversion price compared to market price was valued on the dates of grant to be $215,439 on the notes, and $60,439 on the warrants. This value was recorded as a discount on debt and offset to additional paid in capital. Amortization of the discount was $115,587 for the fiscal year ended September 30, 2013 (2012 - $155,772), which amount has been recorded as interest expense. | |||||||||||||
30-Sep-13 | 30-Sep-12 | Issue Date | |||||||||||
Convertible Promissory Note – face value, due on November 4, 2013 | $ | 100,000 | $ | 100,000 | $ | 100,000 | |||||||
Convertible Promissory Note – face value, due on November 4, 2014 | 115,000 | 115,000 | 115,000 | ||||||||||
Convertible Promissory Note – face value, due on February 3, 2014 | 85,000 | 85,000 | 85,000 | ||||||||||
Convertible Promissory Note – face value, due on March 8, 2014 | 35,000 | 35,000 | 35,000 | ||||||||||
Convertible Promissory Note – face value, due on May 11, 2014 | 25,000 | 25,000 | 25,000 | ||||||||||
Convertible Promissory Note – face value, due on June 19, 2014 | 25,000 | 25,000 | 25,000 | ||||||||||
Convertible Promissory Note – face value, due on September 11, 2013 | 35,000 | 35,000 | 35,000 | ||||||||||
Convertible Promissory Note – face value, due on October 19, 2013 | 15,000 | 15,000 | |||||||||||
Convertible Promissory Note – face value, due on October 26, 2013 | 15,000 | 15,000 | |||||||||||
Convertible Promissory Note – face value, due on May 30, 2014 | 15,000 | 15,000 | |||||||||||
Total convertible promissory note – face value | 465,000 | 420,000 | 465,000 | ||||||||||
Less: beneficial conversion feature | (4,225 | ) | (74,290 | ) | (215,439 | ) | |||||||
Warrant discount | (294 | ) | (24,289 | ) | (60,439 | ) | |||||||
$ | 460,480 | $ | 321,421 | $ | 189,122 | ||||||||
Interest expenses: | |||||||||||||
For the fiscal year ended | |||||||||||||
September 30, | September 30, 2012 | ||||||||||||
2013 | |||||||||||||
Amortization of debt discount | $ | 115,587 | $ | 155,772 | |||||||||
Interest at contractual rate | 45,320 | 27,001 | |||||||||||
Totals | $ | 160,907 | $ | 182,773 | |||||||||
On January 31, 2013, Craigstone agreed to extend the maturity dates of certain notes due and payable on November 4, 2012, January 4, 2012 and February 3, 2013 for a period of one year or greater so that the respective notes are now due and payable on November 4, 2013, November 4, 2014 and February 3, 2014. | |||||||||||||
On May 31, 2013, Craigstone agreed to extend the maturity dates of certain notes due and payable on March 8, 2013, May 11, 2013 and June 19, 2013 to March 8, 2014, May 11, 2014 and June 19, 2014. | |||||||||||||
Presently the Company and Craigstone are in negotiation for the extension of notes which came due between September and November 2013. | |||||||||||||
(ii) | Adams Ale Inc. | ||||||||||||
Effective February 15, 2013, the Company entered into a Securities Purchase Agreement with Adams Ale Inc. (“Adams”) pursuant to which Adams agreed to undertake a private placement in the amount of $100,000. On May 1, 2013, Adams had not fully funded the private placement, having funded an amount of $50,000 and agreed to convert to a Convertible Promissory Note on the same commercial terms as the Craigstone notes discussed above. The Company agreed to enter into a Securities Purchase Agreement with Adams for the funded amount of $50,000 in exchange for one (1) Unit consisting of: a Convertible Promissory Note convertible to common stock in whole or in part, at any time and from time to time before maturity at the option of the holder at seventy-five percent (75%) of the average traded price of the common stock for the thirty (30) trading days immediately preceding the conversion date; and a three (3) year Warrant (the “Warrant”) to purchase one hundred twenty-five thousand (125,000) shares of the Company’s Common Stock exercisable at the lower of : (i) a price of $0.20 per share or (ii) seventy-five percent (75%) of the average traded price of common stock for the thirty (30) trading days immediately preceding the exercise date. The Note earns simple interest accruing at ten percent (10%) per annum and is due on or before the twelfth month anniversary of the date of execution. | |||||||||||||
The beneficial conversion feature resulting from the discounted conversion price compared to market price was valued on the date of grant to be $17,473 on the note, and $806 on the warrants. This value was recorded as a discount on debt and offset to additional paid in capital. Amortization of the discount for the fiscal year ended September 30, 2013 was$11,468 (2012 - $nil), which amount has been recorded as interest expense. | |||||||||||||
30-Sep-13 | Issue Date | ||||||||||||
Convertible Promissory Note – face value, due on February 15, 2014 | 50,000 | 50,000 | |||||||||||
Total convertible promissory note – face value | 50,000 | 50,000 | |||||||||||
Less: beneficial conversion feature | (6,511 | ) | (17,473 | ) | |||||||||
Warrant discount | (300 | ) | (806 | ) | |||||||||
$ | 43,189 | $ | 31,721 | ||||||||||
Interest expenses: | |||||||||||||
For the fiscal year period | |||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||
Amortization of debt discount | $ | 11,468 | $ | - | |||||||||
Interest at contractual rate | 3,137 | - | |||||||||||
Totals | $ | 14,605 | $ | - | |||||||||
Note_6_Related_Party_Transacti
Note 6 - Related Party Transactions | 12 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Note 6 - Related Party Transactions | ' |
6. RELATED PARTY TRANSACTIONS | |
The Company’s prior Director has loans outstanding with the Company as at September 30, 2013 of $6,417. The amount is due on demand, non-interest bearing and unsecured. | |
The Company entered into a management consulting agreement with Mr. Michel Plante, the prior Company’s sole director and officer, commencing October 1, 2011. Under the terms of the agreement, payments of $2,500 a month, were payable on the 1st of each month. During the fiscal year ended September 30, 2013, the Company’s sole director and officer invoiced the Company for services in the amount of $30,000. The Company paid $22,500 in cash, leaving $7,500 in the balance sheets as accounts payable. | |
On September 13, 2013, Mr. Michael Jacob Cooper Smith was appointed to the Board of Directors of the Company. | |
On September 13, 2013, Mr. Michel Plante resigned as an officer and as a member of the Company’s Board of Directors and Mr. Michael Jacob Cooper Smith was appointed as President, Secretary, Treasurer and to fill the position of Chief Executive Office and Chief Financial Officer until such time as the Company can identify other possible candidates for the roles. | |
On September 30, 2013, the Company entered a three-year employment agreement with Mr. Michael Jacob Cooper Smith. Under the terms of the agreement, the Company shall pay Mr. Smith a base salary of $30,000 per annum, paid monthly. The amount of base salary may be increased from time to time by the Board of Directors of the Company. Mr. Smith shall be eligible for periodic bonus in amounts to be determined by the Board of Directors. During the fiscal year ended September 30, 2013, the Company accrued $2,500 in management fees which are recorded on the balance sheets as accounts payable and accrued liability – related party. |
Warrants
Warrants | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Notes to Financial Statements | ' | |||||||||||||||||||||||||||
Warrants | ' | |||||||||||||||||||||||||||
7. WARRANTS | ||||||||||||||||||||||||||||
An aggregate of 1,200,000 warrants were issued and outstanding as at September 30, 2013 as required under the terms of a series of Securities Purchase Agreements discussed above in Note 5. The warrants are exercisable for a period of three years from the date of issue, exercisable at the lower of : (i) a price of $0.20 per share or (ii) seventy-five percent (75%) of the average traded price of the Company’s common stock for the thirty (30) trading days immediately preceding the exercise date. | ||||||||||||||||||||||||||||
The fair value of the 1,200,000 warrants totaling $61,245 was recorded as a discount on the convertible notes payable upon issuance. This value was calculated using the Black-Scholes model. The key inputs for the calculation are shown below: | ||||||||||||||||||||||||||||
Stock Price on Measurement Date | $ | 0.0068 ~ 0.135 | ||||||||||||||||||||||||||
Exercise Price of Warrants | $ | 0.0051 ~ 0.101 | ||||||||||||||||||||||||||
Term of Warrants (years) | 3 | |||||||||||||||||||||||||||
Computed Volatility | 125.84% ~ 147.91% | |||||||||||||||||||||||||||
Annual Dividends | 0 | % | ||||||||||||||||||||||||||
Discount Rate | 0.33 ~ 0.49 | % | ||||||||||||||||||||||||||
A summary of the Company’s warrants as of September 30, 2013 and September 30, 2012 as follows: | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||||
Warrants | Weighted average | Warrants | Weighted average | |||||||||||||||||||||||||
exercise price | exercise price | |||||||||||||||||||||||||||
Outstanding at the beginning of the period | 962,500 | $ | 0.069 | - | $ | - | ||||||||||||||||||||||
Granted | 237,500 | 0.024 | 962,500 | $ | 0.069 | |||||||||||||||||||||||
Exercised | - | - | - | |||||||||||||||||||||||||
Cancelled | - | - | $ | - | ||||||||||||||||||||||||
Outstanding at the end of the period | 1,200,000 | $ | 0.06 | 962,500 | $ | 0.069 | ||||||||||||||||||||||
Vested and exercisable at the end of period | 1,200,000 | 962,500 | ||||||||||||||||||||||||||
Weighted average fair value per share of warrants granted during the period | $ | 0.06 | $ | 0.069 | ||||||||||||||||||||||||
The following table summarizes information regarding stock purchase warrants outstanding at September 30, 2013: | ||||||||||||||||||||||||||||
Warrants Outstanding | Warrants Exercisable | |||||||||||||||||||||||||||
Exercise prices | Number | Weighted average | Weighted average | Number | Weighted average | Weighted average | ||||||||||||||||||||||
Outstanding | remaining contractual | exercise price | exercisable | remaining contractual | exercise price | |||||||||||||||||||||||
life (years) | life (years) | |||||||||||||||||||||||||||
$ | 0.00563 to 0.10 | 1,200,000 | 1.55 | $ | 0.06 | 1,200,000 | 1.55 | $ | 0.06 | |||||||||||||||||||
As at September 30, 2013, the Company had the following warrants outstanding: | ||||||||||||||||||||||||||||
Exercise Price | Expiry Date | Weighted Average Remaining Contractual Life (Years) | Outstanding at | Issued | Exercised | Expired | ||||||||||||||||||||||
30-Sep-12 | Outstanding at | |||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
$ | 0.075 | 4-Nov-14 | 1.09 | 250,000 | - | - | - | 250,000 | ||||||||||||||||||||
$ | 0.075 | 4-Nov-14 | 1.09 | 250,000 | - | - | - | 250,000 | ||||||||||||||||||||
$ | 0.101 | 3-Feb-15 | 1.34 | 177,083 | - | - | - | 177,083 | ||||||||||||||||||||
$ | 0.041 | 8-Mar-15 | 1.44 | 72,917 | - | - | - | 72,917 | ||||||||||||||||||||
$ | 0.052 | 11-May-15 | 1.61 | 62,500 | - | - | - | 62,500 | ||||||||||||||||||||
$ | 0.03 | 19-Jun-15 | 1.72 | 62,500 | - | - | - | 62,500 | ||||||||||||||||||||
$ | 0.03 | 11-Sep-15 | 1.95 | 87,500 | - | - | - | 87,500 | ||||||||||||||||||||
$ | 0.064 | 19-Oct-15 | 2.05 | 37,500 | - | - | 37,500 | |||||||||||||||||||||
$ | 0.056 | 26-Oct-15 | 2.07 | 37,500 | - | - | 37,500 | |||||||||||||||||||||
$ | 0.008 | 15-Feb-16 | 2.37 | 125,000 | - | - | 125,000 | |||||||||||||||||||||
$ | 0.005 | May 30,2016 | 2.66 | 37,500 | - | - | 37,500 | |||||||||||||||||||||
1.55 | 962,500 | 237,500 | - | - | 1,200,000 | |||||||||||||||||||||||
Note_8_Income_Taxes
Note 8 - Income Taxes | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of Investments [Abstract] | ' | ||||||||
Note 8 - Income Taxes | ' | ||||||||
8. INCOME TAXES | |||||||||
The Company has losses carried forward for income tax purposes for September 30, 2013. There are no current or deferred tax expenses for the fiscal year ended September 30, 2013 due to the Company’s loss position. The Company has fully reserved for any benefits of these losses. The deferred tax consequences of temporary differences in reporting items for financial statement and income tax purposes are recognized, as appropriate. Realization of the future tax benefits related to the deferred tax assets is dependent on many factors, including the Company’s ability to generate taxable income within the net operating loss carryforward period. | |||||||||
Management has considered these factors in reaching its conclusion as to the valuation allowance for financial reporting purposes. | |||||||||
30-Sep-13 | September 30, 2012 | ||||||||
Net operating loss carry forward | 960,853 | 604,827 | |||||||
Effective Tax Rate | 35 | % | 35 | % | |||||
Deferred Tax Assets | 336,200 | 211,689 | |||||||
Less: Valuation Allowance | (336,200 | ) | (211,689 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 | |||||
The valuation allowance for deferred tax assets as of September 30, 2013 and 2012 was $336,200 and $211,689 respectively. In assessing the recovery of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers the scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment. As a result, management determined it was more likely than not the deferred tax assets would not be realized as of September 30, 2013 and 2012, and recorded a full valuation allowance. | |||||||||
Reconciliation between the statutory rate and the effective tax rate is as follows at September 30: | |||||||||
2013 | 2012 | ||||||||
Federal statutory tax rate | (35.0 | )% | (35.0 | )% | |||||
Permanent difference and other | 35 | % | 35 | % | |||||
Effective tax rate | - | % | - | % | |||||
The net federal operating loss carry forward will expire between 2030 and 2033. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. |
Note_9_Subsequent_Events
Note 9 - Subsequent Events | 12 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Note 9 - Subsequent Events | ' |
9. SUBSEQUENT EVENTS | |
On October 3, 2013, we raised $37,500, through a private offering of a convertible promissory note. Under the terms of the Note, interest shall accrue at 8% per annum until June 20, 2014 (the “Maturity Date”), at which time, unless converted, all principal and accrued interest shall be due and payable. Any amount of principal or interest on the Note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is paid (“Default Interest”). Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual number of days elapsed. The holder shall have the right from time to time, and at any time during the period beginning on the date which is 180 days following the date of the note (dated September 18, 2013) to convert the Note, in whole or in part, into full paid and non-assessable shares of Common Stock. The conversion price (the “Conversion Price”) shall equal the Variable Conversion Price which shall mean shall mean 55% multiplied by the Market Price (as defined herein) (representing a discount rate of 45%) (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower’s securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). “Market Price” means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market. | |
On December 18, 2013, we entered into a further securities purchase agreement with Asher Enterprises to raise a total of $22,500, through a private offering of a convertible promissory note on the same terms as the first note detailed above. The financing agreement has not yet closed but is expected to close upon the completion of the filing of the Company’s Form 10-K. | |
The Company has evaluated subsequent events from the balance sheet date through the date that the financial statements were issued and determined that there were no other events to disclose. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation | ' | |
Basis of Presentation | ||
The unaudited interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim consolidated financial information and pursuant to the rules and regulations of the SEC. Accordingly; they do not include all the information and footnotes required by GAAP for complete consolidated financial statements. However, management believes that the disclosures made are adequate to make the information not misleading. Management has evaluated subsequent events through the date the financial statements were issued. | ||
Going Concern | ' | |
Going Concern | ||
The consolidated financial statements have been prepared on a going concern basis that assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $960,853 as of September 30, 2013 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. The ability to continue as a going concern is dependent upon the Company generating 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 intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock. These financials do not include any adjustments relating to the recoverability and reclassification of recorded asset amounts, or amounts and classifications of liabilities that might result from this uncertainty. | ||
Cash and Cash equivalents | ' | |
Cash and Cash equivalents | ||
For purposes of Statement of Cash Flows, the Company considers all highly liquid debt instruments purchased with a maturity date of six months or less to be cash equivalents. | ||
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 period. Actual results could differ from those estimates. | ||
Foreign Currency Translation | ' | |
Foreign Currency Translation | ||
The Company's functional currency and its reporting currency is the United States dollar. | ||
Fair Value of Financial Instruments | ' | |
Fair Value of Financial Instruments | ||
The carrying value of cash and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. | ||
Income Taxes | ' | |
Income Taxes | ||
The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | ||
Basic and Diluted Loss Per Share | ' | |
Basic and Diluted Loss Per Share | ||
Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. | ||
The Company had the following potential common stock equivalents at September 30, 2013: | ||
Warrants | 12,000,000 | |
Since the Company reflected a net loss in fiscal years 2013 and 2012, respectively, the effect of considering any common stock equivalents, if outstanding, would have been anti-dilutive. A separate computation of diluted earnings (loss) per share is not presented. | ||
Stock-based Compensation | ' | |
Stock-based Compensation | ||
The Company records stock based compensation in accordance with the guidance in ASC Topic 718, which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | ||
Mineral Property Costs | ' | |
Mineral Property Costs | ||
Mineral exploration and development costs are accounted for using the successful efforts method of accounting. | ||
Property acquisition costs - Mineral property acquisition costs are capitalized as mineral exploration properties. Upon achievement of all conditions necessary for reserves to be classified as proved, the associated acquisition costs are reclassified to prove properties | ||
Exploration costs - Geological and geophysical costs and the costs of carrying and retaining undeveloped properties are expensed as incurred. | ||
Impairment of Mineral Properties | ' | |
Impairment of Mineral Properties | ||
Unproved mineral properties are assessed at each reporting period for impairment of value, and a loss is recognized at the time of the impairment by providing an impairment allowance. An asset would be impaired if the undiscounted cash flows were less than its carrying value. Impairments are measured by the amount by which the carrying value exceeds its fair value. Because the Company uses the successful efforts method, the Company assesses its properties individually for impairment, instead of on an aggregate pool of costs. Impairment of unproved properties is based on the facts and circumstances surrounding each lease and is recognized based on management’s evaluation. Management’s evaluation follows a two-step process where (1) recoverability of the carrying value of the asset is reviewed to determine if there is sufficient value recoverable to support the capitalized value at the report date; and, (2) If assets fail the recoverability test, impairment testing is conducted, including the evaluation of various criteria such as: prior history of successful operations; production currently in place and/or future projected cash flows (if any); reserve reports or evaluations from which management can prepare future cash flow analyses; the Company’s ability to monetize the asset(s) under evaluation; and, Management’s intent regarding future development. | ||
Beneficial Conversion Feature | ' | |
Beneficial Conversion Feature | ||
From time to time, the Company may issue convertible notes that may have conversion prices that create an embedded beneficial conversion feature pursuant to the Emerging Issues Task Force guidance on beneficial conversion features. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of any attached equity instruments, if any related equity instruments were granted with the debt. In accordance with this guidance, the intrinsic value of the beneficial conversion feature is recorded as a debt discount with a corresponding amount to additional paid in capital. The debt discount is amortized to interest expense over the life of the note using the effective interest method. |
Mineral_Property_Option_Agreem
Mineral Property Option Agreement (Tables) | 12 Months Ended | |
Sep. 30, 2013 | ||
Extractive Industries [Abstract] | ' | |
Schedule of Cash Payments for Option on Mineral Property | ' | |
i. | $50,000 within 2 business days of the execution of the Option Agreement | |
ii. | $70,000 within 30 days following the First Option Payment | |
iii. | $70,000 within 30 days following the Second Option Payment | |
iv. | $15,000 within 30 days following the Third Option Payment |
Convertible_Promissory_Notes_N
Convertible Promissory Notes, Net (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Schedule of Convertible Notes Payable, Craigstone | ' | ||||||||||||
30-Sep-13 | 30-Sep-12 | Issue Date | |||||||||||
Convertible Promissory Note – face value, due on November 4, 2013 | $ | 100,000 | $ | 100,000 | $ | 100,000 | |||||||
Convertible Promissory Note – face value, due on November 4, 2014 | 115,000 | 115,000 | 115,000 | ||||||||||
Convertible Promissory Note – face value, due on February 3, 2014 | 85,000 | 85,000 | 85,000 | ||||||||||
Convertible Promissory Note – face value, due on March 8, 2014 | 35,000 | 35,000 | 35,000 | ||||||||||
Convertible Promissory Note – face value, due on May 11, 2014 | 25,000 | 25,000 | 25,000 | ||||||||||
Convertible Promissory Note – face value, due on June 19, 2014 | 25,000 | 25,000 | 25,000 | ||||||||||
Convertible Promissory Note – face value, due on September 11, 2013 | 35,000 | 35,000 | 35,000 | ||||||||||
Convertible Promissory Note – face value, due on October 19, 2013 | 15,000 | 15,000 | |||||||||||
Convertible Promissory Note – face value, due on October 26, 2013 | 15,000 | 15,000 | |||||||||||
Convertible Promissory Note – face value, due on May 30, 2014 | 15,000 | 15,000 | |||||||||||
Total convertible promissory note – face value | 465,000 | 420,000 | 465,000 | ||||||||||
Less: beneficial conversion feature | (4,225 | ) | (74,290 | ) | (215,439 | ) | |||||||
Warrant discount | (294 | ) | (24,289 | ) | (60,439 | ) | |||||||
$ | 460,480 | $ | 321,421 | $ | 189,122 | ||||||||
Schedule of Debt Discount and Interest accrued in period, Craigstone | ' | ||||||||||||
For the fiscal year ended | |||||||||||||
30-Sep-13 | September 30, 2012 | ||||||||||||
Amortization of debt discount | $ | 115,587 | $ | 155,772 | |||||||||
Interest at contractual rate | 45,320 | 27,001 | |||||||||||
Totals | $ | 160,907 | $ | 182,773 | |||||||||
Schedule of Convertible Notes Payable, Adams Ale | ' | ||||||||||||
30-Sep-13 | Issue Date | ||||||||||||
Convertible Promissory Note – face value, due on February 15, 2014 | 50,000 | 50,000 | |||||||||||
Total convertible promissory note – face value | 50,000 | 50,000 | |||||||||||
Less: beneficial conversion feature | (6,511 | ) | (17,473 | ) | |||||||||
Warrant discount | (300 | ) | (806 | ) | |||||||||
$ | 43,189 | $ | 31,721 | ||||||||||
Schedule of Debt Discount and Interest accrued in period, Adams Ale | ' | ||||||||||||
For the fiscal year period | |||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||
Amortization of debt discount | $ | 11,468 | $ | - | |||||||||
Interest at contractual rate | 3,137 | - | |||||||||||
Totals | $ | 14,605 | $ | - |
Warrants_Tables
Warrants (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Notes to Financial Statements | ' | |||||||||||||||||||||||||||
Valuation Assumptions | ' | |||||||||||||||||||||||||||
Stock Price on Measurement Date | $ | 0.0068 ~ 0.135 | ||||||||||||||||||||||||||
Exercise Price of Warrants | $ | 0.0051 ~ 0.101 | ||||||||||||||||||||||||||
Term of Warrants (years) | 3 | |||||||||||||||||||||||||||
Computed Volatility | 125.84% ~ 147.91% | |||||||||||||||||||||||||||
Annual Dividends | 0 | % | ||||||||||||||||||||||||||
Discount Rate | 0.33 ~ 0.49 | % | ||||||||||||||||||||||||||
Warrant Activity Table | ' | |||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||||
Warrants | Weighted average | Warrants | Weighted average | |||||||||||||||||||||||||
exercise price | exercise price | |||||||||||||||||||||||||||
Outstanding at the beginning of the period | 962,500 | $ | 0.069 | - | $ | - | ||||||||||||||||||||||
Granted | 237,500 | 0.024 | 962,500 | $ | 0.069 | |||||||||||||||||||||||
Exercised | - | - | - | |||||||||||||||||||||||||
Cancelled | - | - | $ | - | ||||||||||||||||||||||||
Outstanding at the end of the period | 1,200,000 | $ | 0.06 | 962,500 | $ | 0.069 | ||||||||||||||||||||||
Vested and exercisable at the end of period | 1,200,000 | 962,500 | ||||||||||||||||||||||||||
Weighted average fair value per share of warrants granted during the period | $ | 0.06 | $ | 0.069 | ||||||||||||||||||||||||
Outstanding and Exercisable Warrants | ' | |||||||||||||||||||||||||||
Warrants Outstanding | Warrants Exercisable | |||||||||||||||||||||||||||
Exercise prices | Number | Weighted average | Weighted average | Number | Weighted average | Weighted average | ||||||||||||||||||||||
Outstanding | remaining contractual | exercise price | exercisable | remaining contractual | exercise price | |||||||||||||||||||||||
life (years) | life (years) | |||||||||||||||||||||||||||
$ | 0.00563 to 0.10 | 1,200,000 | 1.55 | $ | 0.06 | 1,200,000 | 1.55 | $ | 0.06 | |||||||||||||||||||
Schedule of Outstanding Warrants | ' | |||||||||||||||||||||||||||
Exercise Price | Expiry Date | Weighted Average Remaining Contractual Life (Years) | Outstanding at | Issued | Exercised | Expired | ||||||||||||||||||||||
30-Sep-12 | Outstanding at | |||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
$ | 0.075 | 4-Nov-14 | 1.09 | 250,000 | - | - | - | 250,000 | ||||||||||||||||||||
$ | 0.075 | 4-Nov-14 | 1.09 | 250,000 | - | - | - | 250,000 | ||||||||||||||||||||
$ | 0.101 | 3-Feb-15 | 1.34 | 177,083 | - | - | - | 177,083 | ||||||||||||||||||||
$ | 0.041 | 8-Mar-15 | 1.44 | 72,917 | - | - | - | 72,917 | ||||||||||||||||||||
$ | 0.052 | 11-May-15 | 1.61 | 62,500 | - | - | - | 62,500 | ||||||||||||||||||||
$ | 0.03 | 19-Jun-15 | 1.72 | 62,500 | - | - | - | 62,500 | ||||||||||||||||||||
$ | 0.03 | 11-Sep-15 | 1.95 | 87,500 | - | - | - | 87,500 | ||||||||||||||||||||
$ | 0.064 | 19-Oct-15 | 2.05 | 37,500 | - | - | 37,500 | |||||||||||||||||||||
$ | 0.056 | 26-Oct-15 | 2.07 | 37,500 | - | - | 37,500 | |||||||||||||||||||||
$ | 0.008 | 15-Feb-16 | 2.37 | 125,000 | - | - | 125,000 | |||||||||||||||||||||
$ | 0.005 | May 30,2016 | 2.66 | 37,500 | - | - | 37,500 | |||||||||||||||||||||
1.55 | 962,500 | 237,500 | - | - | 1,200,000 |
Note_8_Income_Taxes_Tables
Note 8 - Income Taxes (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of Investments [Abstract] | ' | ||||||||
Deferred Tax Assets | ' | ||||||||
30-Sep-13 | September 30, 2012 | ||||||||
Net operating loss carry forward | 960,853 | 604,827 | |||||||
Effective Tax Rate | 35 | % | 35 | % | |||||
Deferred Tax Assets | 336,200 | 211,689 | |||||||
Less: Valuation Allowance | (336,200 | ) | (211,689 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 | |||||
Effective Income Tax Rate | ' | ||||||||
2013 | 2012 | ||||||||
Federal statutory tax rate | (35.0 | )% | (35.0 | )% | |||||
Permanent difference and other | 35 | % | 35 | % | |||||
Effective tax rate | - | % | - | % |
Organization_Details_Narrative
Organization (Details Narrative) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 15, 2011 | Oct. 13, 2011 | Oct. 12, 2011 |
Notes to Financial Statements | ' | ' | ' | ' | ' |
Accumulated Deficit | $960,853 | $604,827 | ' | ' | ' |
Number of shares acquired by officer and director | ' | ' | ' | ' | 3,000,000 |
Percent of Oustanding Shares Acquired | ' | ' | ' | ' | 77.32% |
Ratio of forward split to each share held | ' | ' | ' | 100 | ' |
Percent interest available to acquire under Option Agreement | ' | ' | 100.00% | ' | ' |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details Narrative) (USD $) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Accounting Policies [Abstract] | ' | ' |
Accumulated Deficit | $960,853 | $604,827 |
Common stock equivalents, Warrants | 12,000,000 | ' |
Mineral_Property_Option_Agreem1
Mineral Property Option Agreement (Details Narrative) (USD $) | 12 Months Ended | 41 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Nov. 27, 2012 | Nov. 15, 2011 | |
D | |||||
Terms of Option Agreement | ' | ' | ' | ' | ' |
Percent interest available to acquire under Option Agreement | ' | ' | ' | ' | 100.00% |
Total Cash payments to acquire Option | ' | ' | ' | ' | $205,000 |
Required expenditures on mineral property | ' | ' | ' | ' | 65,000 |
200,000 shares issued for acquisition of mineral property, value | ' | ' | ' | ' | 20,000 |
Percent interest earned | ' | ' | ' | 100.00% | ' |
Days after forward split by which shares are to be issued | ' | ' | ' | ' | 10 |
Days after execution of Option by which shares are to be issued | ' | ' | ' | ' | 90 |
Shares issued for Mineral Property Option, in shares | ' | 200,000 | ' | ' | ' |
Price per share | ' | $0.10 | ' | ' | ' |
Cash Payments. option | ' | 205,000 | ' | ' | ' |
Exploration expense | $17,630 | $17,815 | $35,445 | ' | ' |
Note_4_Common_Stock_Details_Na
Note 4 - Common Stock (Details Narrative) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Equity [Abstract] | ' | ' |
Common stock, shares authorized | 900,000,000 | 900,000,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares issued and outstanding | 288,200,000 | ' |
Convertible_Promissory_Notes_N1
Convertible Promissory Notes, Net - Schedule of Convertible Notes Payable (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | 30-May-13 | Oct. 26, 2012 | Oct. 19, 2012 | Sep. 30, 2012 | Sep. 11, 2012 | Jun. 19, 2012 | 11-May-12 | Mar. 08, 2012 | Feb. 03, 2012 | Jan. 04, 2012 | Nov. 04, 2011 | Sep. 30, 2013 | Feb. 15, 2013 |
Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Adams Ale | Adams Ale | |||
Convertible Notes, Face Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on November 4, 2013 | ' | ' | $100,000 | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' |
Convertible Promissory Note, face value, due on November 4, 2014 | ' | ' | 115,000 | ' | ' | ' | 115,000 | ' | ' | ' | ' | ' | 115,000 | ' | ' | ' |
Convertible Promissory Note, face value, due on February 3, 2014 | ' | ' | 85,000 | ' | ' | ' | 85,000 | ' | ' | ' | ' | 85,000 | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on March 8, 2014 | ' | ' | 35,000 | ' | ' | ' | 35,000 | ' | ' | ' | 35,000 | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on May 11, 2014 | ' | ' | 25,000 | ' | ' | ' | 25,000 | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on June 19, 2014 | ' | ' | 25,000 | ' | ' | ' | 25,000 | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on September 11, 2013 | ' | ' | 35,000 | ' | ' | ' | 35,000 | 35,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on October 19, 2013 | ' | ' | 15,000 | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on October 26, 2013 | ' | ' | 15,000 | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on May 30, 2014 | ' | ' | 15,000 | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note, face value, due on February 15, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 50,000 |
Total convertible promissory note, face value | ' | ' | 465,000 | ' | ' | ' | 420,000 | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' |
Beneficial conversion feature, expensed in period ended | ' | ' | -4,225 | ' | ' | ' | -74,290 | ' | ' | ' | ' | ' | ' | ' | -6,511 | ' |
Beneficial conversion feature, gross value at issue date | ' | ' | -215,439 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -17,473 | ' |
Warrant discount expensed in period | ' | ' | -294 | ' | ' | ' | -24,289 | ' | ' | ' | ' | ' | ' | ' | -300 | ' |
Warrant discount, gross value at issue date | ' | ' | -60,439 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -806 | ' |
Convertible promissory notes, net | 503,670 | 321,421 | 460,480 | ' | ' | ' | 321,421 | ' | ' | ' | ' | ' | ' | ' | 43,189 | ' |
Convertible promissory notes, net, value at issue date | ' | ' | $189,122 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $31,721 | ' |
Convertible_Promissory_Notes_N2
Convertible Promissory Notes, Net - Schedule of Debt Discount and Interest accrued in period (Details) (USD $) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Craigstone Ltd. | ' | ' |
Amortization of debt discount | $115,587 | $155,772 |
Interest at contractual rate | 45,320 | 27,001 |
[TotalInterestExpense] | 160,907 | 182,773 |
Adams Ale | ' | ' |
Amortization of debt discount | 11,468 | ' |
Interest at contractual rate | 3,137 | ' |
[TotalInterestExpense] | $14,605 | ' |
Convertible_Promissory_Notes_N3
Convertible Promissory Notes, Net (Details Narrative) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 04, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | 1-May-13 | Feb. 15, 2013 |
Y | Craigstone Ltd. | Craigstone Ltd. | Craigstone Ltd. | Adams Ale | Adams Ale | Adams Ale | Adams Ale | |
D | Y | D | Y | Y | ||||
D | Y | D | D | |||||
Private placement, value | ' | ' | ' | ' | ' | ' | ' | $100,000 |
Private Placement, funded | ' | ' | ' | ' | ' | ' | 50,000 | ' |
Convertible Notes | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Note, cash proceeds | ' | ' | ' | 100,000 | ' | ' | ' | 50,000 |
Number of Units, convertible note | ' | ' | ' | 1 | ' | ' | ' | 1 |
Warrants granted, convertible note, in shares | ' | ' | ' | 250,000 | ' | ' | ' | 125,000 |
Percent of average trading price used for conversion price | ' | ' | ' | 75.00% | ' | ' | ' | 75.00% |
Number of days prior to conversion on which average trading price determined | ' | ' | ' | 30 | ' | ' | ' | 30 |
Term of Warrant | 3 | ' | ' | 3 | ' | ' | ' | 3 |
Warrant exercise price 1 | $0.20 | ' | ' | $0.20 | ' | ' | ' | $0.20 |
Warrant exercise price 2, as percent of marketing trading price | 75.00% | ' | ' | 75.00% | ' | ' | ' | 75.00% |
Number of days average trading price prior to exercise on which warrant price determined | 30 | ' | ' | 30 | ' | ' | ' | 30 |
Interest rate | ' | ' | ' | 10.00% | ' | ' | ' | 10.00% |
Convertible Notes, Additions | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Additional securities agreements | ' | 3 | ' | ' | ' | ' | ' | ' |
Convertible note, additional cash proceeds | ' | 45,000 | 320,000 | ' | ' | ' | ' | ' |
Number of Units, convertible note | ' | 1 | 1 | ' | ' | ' | ' | ' |
Warrants granted, convertible note additions, in shares | ' | 112,500 | 712,500 | ' | ' | ' | ' | ' |
Percent of average trading price used for conversion price | ' | 75.00% | 75.00% | ' | ' | ' | ' | ' |
Number of days prior to conversion on which average trading price determined | ' | 30 | 30 | ' | ' | ' | ' | ' |
Term of Warrant | ' | 3 | 3 | ' | ' | ' | ' | ' |
Warrant exercise price 1 | ' | $0.20 | $0.20 | ' | ' | ' | ' | ' |
Warrant exercise price 2, as percent of marketing trading price | ' | 75.00% | 75.00% | ' | ' | ' | ' | ' |
Number of days average trading price prior to exercise on which warrant price determined | ' | 30 | 30 | ' | ' | ' | ' | ' |
Interest rate | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' |
Beneficial conversion feature, issue date, gross value | ' | -215,439 | ' | ' | -17,473 | ' | ' | ' |
Warrant discount, issue date, gross value | ' | -60,439 | ' | ' | -806 | ' | ' | ' |
Amortization discount, expensed | ' | $115,587 | $155,772 | ' | $11,468 | ' | ' | ' |
Note_6_Related_Party_Transacti1
Note 6 - Related Party Transactions (Details Narrative) (USD $) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Related Party Transactions [Abstract] | ' | ' |
Advances from related parties | $6,417 | $6,417 |
Monthly compensation, former officer | 2,500 | ' |
Management Fees invoiced, former officer | 30,000 | ' |
Amount paid former officer | 22,500 | ' |
Due to former officer | 7,500 | ' |
Annual salary, officer and director | 30,000 | ' |
Due to officer and director | $2,500 | ' |
Warrants_Valuation_Assumptions
Warrants - Valuation Assumptions (Details) (USD $) | 12 Months Ended |
Sep. 30, 2013 | |
Warrant Valuation Assumptions | ' |
Stock Price on Measurement Date, Minimum | $0.01 |
Stock Price on Measurement Date, Maximum | $0.14 |
Exercise Price of Warrants, Minimum | $0.01 |
Exercise Price of Warrants, Maximum | $0.10 |
Term of Warrants (years) | '3 years |
Computed volatility, low end of the range (as a percent) | 125.84% |
Computed volatility, high end of the range (as a percent) | 147.91% |
Annual Dividends | 0.00% |
Discount Rate, minimum | 0.33% |
Discount Rate, Maximum | 0.49% |
Warrants_Warrant_Activity_Tabl
Warrants - Warrant Activity Table (Details) (USD $) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Warrant Activity | ' | ' |
Outstanding beginning period | 962,500 | 0 |
Granted | 237,500 | 962,500 |
Exercised | 0 | 0 |
Canceled | 0 | 0 |
Oustanding end period | 1,200,000 | 962,500 |
Vested and exercisable | 1,200,000 | 962,500 |
Weighted Average Exericse Price | ' | ' |
Outstanding beginning period | $0.07 | $0 |
Granted | $0.02 | $0.07 |
Exercised | $0 | $0 |
Canceled | $0 | $0 |
Outstanding end period | $0.06 | $0.07 |
Weighted average value per share of warrants granted during the period | $0.06 | $0.07 |
Warrants_Outstanding_and_Exerc
Warrants - Outstanding and Exercisable Warrants (Details) (USD $) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Notes to Financial Statements | ' | ' |
Exercise Price, minimum | $0.01 | ' |
Exercise Price, maximum | $0.10 | ' |
Warrants outstanding | ' | ' |
Number outstanding | 1,200,000 | ' |
Weighted average remaining contractual life (years) | '1 year 5 months | ' |
Weighted average exercise price | $0.06 | $0.07 |
Warrants Exercisable | ' | ' |
Number Exercisable | 1,200,000 | ' |
Weighted average remaining contractual life (years) | '1 year 5 months | ' |
Weighted Average Exercise Price | $0.06 | ' |
Warrants_Schedule_of_Outstandi
Warrants - Schedule of Outstanding Warrants (Details) (USD $) | 12 Months Ended |
Sep. 30, 2013 | |
Warrant Grant 1 | ' |
Outstanding beginning period | 250,000 |
Oustanding end period | 250,000 |
Weighted average remaining contractual life (years) | '1 year 1 month |
Exercise price | $0.08 |
Expiry date | '2014-11-04 |
Warrant Grant 2 | ' |
Outstanding beginning period | 250,000 |
Oustanding end period | 250,000 |
Weighted average remaining contractual life (years) | '1 year 1 month |
Exercise price | $0.08 |
Expiry date | '2014-11-04 |
Warrant Grant 3 | ' |
Outstanding beginning period | 177,083 |
Oustanding end period | 177,083 |
Weighted average remaining contractual life (years) | '1 year 4 months |
Exercise price | $0.10 |
Expiry date | '2015-02-03 |
Warrant Grant 4 | ' |
Outstanding beginning period | 72,917 |
Oustanding end period | 72,917 |
Weighted average remaining contractual life (years) | '1 year 5 months |
Exercise price | $0.04 |
Expiry date | '2015-03-08 |
Warrant Grant 5 | ' |
Outstanding beginning period | 62,500 |
Oustanding end period | 62,500 |
Weighted average remaining contractual life (years) | '1 year 7 months |
Exercise price | $0.05 |
Expiry date | '2015-05-11 |
Warrant Grant 6 | ' |
Outstanding beginning period | 62,500 |
Oustanding end period | 62,500 |
Weighted average remaining contractual life (years) | '1 year 8 months |
Exercise price | $0.03 |
Expiry date | '2015-06-19 |
Warrant Grant 7 | ' |
Outstanding beginning period | 87,500 |
Oustanding end period | 87,500 |
Weighted average remaining contractual life (years) | '2 years |
Exercise price | $0.03 |
Expiry date | '2015-09-11 |
Warrant Grant 8 | ' |
Outstanding beginning period | 0 |
Issued | 37,500 |
Oustanding end period | 37,500 |
Weighted average remaining contractual life (years) | '2 years |
Exercise price | $0.06 |
Expiry date | '2015-10-19 |
Warrant Grant 9 | ' |
Outstanding beginning period | 0 |
Issued | 37,500 |
Oustanding end period | 37,500 |
Weighted average remaining contractual life (years) | '2 years 1 month |
Exercise price | $0.06 |
Expiry date | '2015-10-26 |
Warrant Grant 10 | ' |
Outstanding beginning period | 0 |
Issued | 125,000 |
Oustanding end period | 125,000 |
Weighted average remaining contractual life (years) | '2 years 4 months |
Exercise price | $0.01 |
Expiry date | '2016-02-15 |
Outstanding beginning period | 0 |
Issued | 37,500 |
Oustanding end period | 37,500 |
Weighted average remaining contractual life (years) | '2 years 8 months |
Exercise price | $0.01 |
Expiry date | '2016-05-30 |
Warrant Grant Total | ' |
Outstanding beginning period | 962,500 |
Issued | 237,500 |
Oustanding end period | 1,200,000 |
Weighted average remaining contractual life (years) | '1 year 7 months |
Warrants_Details_Narrative
Warrants (Details Narrative) (USD $) | Sep. 30, 2013 |
D | |
Y | |
Notes to Financial Statements | ' |
Warrants issued | 1,200,000 |
Term of Warrant | 3 |
Warrant exercise price 1 | $0.20 |
Warrant exercise price 2, as percent of marketing trading price | 75.00% |
Number of days average trading price prior to exercise on which warrant price determined | 30 |
Fair Value Warrants Issued | $61,245 |
Note_8_Income_Taxes_Deferred_T
Note 8 - Income Taxes - Deferred Tax Assets (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Schedule of Investments [Abstract] | ' | ' |
Net operating loss carry forward | $960,853 | $604,827 |
Effective Tax Rate | 35.00% | 35.00% |
Deferred Tax Assets | 336,200 | 211,689 |
Less: Valuation Allowance | -336,200 | -211,689 |
Net deferred tax asset | $336,200 | $211,689 |
Note_8_Income_Taxes_Effective_
Note 8 - Income Taxes - Effective Income Tax Rate (Details) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Schedule of Investments [Abstract] | ' | ' |
Federal statutory tax rate | -35.00% | -35.00% |
Permanent difference and other | 35.00% | 35.00% |
Effective tax rate | 0.00% | 0.00% |
Note_8_Income_Taxes_Details_Na
Note 8 - Income Taxes (Details Narrative) (USD $) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Schedule of Investments [Abstract] | ' | ' |
Valuation Allowance | $336,200 | $211,689 |
Year loss carryforwards begin to expire | 1-Jan-30 | ' |
Year loss carryforwards fully expire | '2033-01-01 | ' |
Note_9_Subsequent_Events_Detai
Note 9 - Subsequent Events (Details Narrative) (USD $) | Dec. 18, 2013 | Oct. 03, 2013 |
D | ||
Asher Enterprises Inc. | ' | ' |
Funds raised | ' | $37,500 |
Interest rate | ' | 8.00% |
Default interest rate | ' | 22.00% |
Days in year for computation of interest | ' | 365 |
Days after Note date, election to convert | ' | 180 |
Percent market price for Conversion Price | ' | 55.00% |
Discount rate to market | ' | 45.00% |
Number of Lowest Average trading prices, determine market price | ' | 3 |
Number days over which average trading prices obtained | ' | 10 |
Additional funds raised | $22,500 | ' |