Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Nov. 01, 2017 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Inspired Builders, Inc. | |
Entity Central Index Key | 1,509,786 | |
Trading Symbol | ISRB | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Document Type | 10-K | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,016 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | Yes | |
Entity Current Reporting Status | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 11,125,000 |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2016 | Sep. 30, 2015 |
Current Assets: | ||
Cash | $ 0 | $ 244 |
Total current assets | 0 | 244 |
Real estate | 307,504 | 307,504 |
Total assets | 307,504 | 307,748 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 355,561 | 265,190 |
Accrued salary | 270,000 | 150,000 |
Due to related party | 2,453 | 2,453 |
Mortgage payable | 750,000 | 750,000 |
Notes Payable - related party | 577,453 | 577,453 |
Total current liabilities | 1,955,467 | 1,745,096 |
Long Term Liabilities | ||
Convertible note payable - related party | 10,000 | 10,000 |
Total Long Term Liabilities | 10,000 | 10,000 |
Total Liabilities | 1,965,467 | 1,755,096 |
Commitments and Contingencies See Note 8) | ||
Stockholders' deficit: | ||
Preferred Stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding | ||
Common stock, $0.001 par value, 50,000,000 shares authorized, 11,125,000 and 11,025,000 shares issued and outstanding, respectively | 11,125 | 11,125 |
Additional paid in capital | (429,418) | (432,621) |
Accumulated deficit | (1,239,670) | (1,025,852) |
Total Stockholders' deficit | (1,657,963) | (1,447,348) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 307,504 | $ 307,748 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2016 | Sep. 30, 2015 |
Balance Sheets [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 11,125,000 | 11,025,000 |
Common stock, shares outstanding | 11,125,000 | 11,025,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
OPERATING EXPENSES | ||
General and administrative | $ 139,520 | $ 212,525 |
Total operating expenses | 139,520 | 212,525 |
LOSS BEFORE PROVISION FOR INCOME TAXES | (139,520) | (212,525) |
Other expenses | ||
Interest expense | 74,298 | 72,062 |
Net Loss before provision for income taxes | (213,818) | (284,587) |
Provision for income taxes | 0 | 0 |
NET LOSS | $ (213,818) | $ (284,587) |
Net loss per share - basic and diluted | $ (0.02) | $ (0.03) |
Weighted average number of shares outstanding during the period - basic and diluted | 11,125,000 | 11,125,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (213,818) | $ (284,587) |
Changes in operating assets and liabilities: | ||
Increase in accounts payable and accrued interest | 90,371 | 102,605 |
Increase in accrued salary | 120,000 | 120,000 |
Net Cash Used In Operating Activities | (3,447) | (61,982) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from notes payable - related party | 61,802 | |
Contribution of Capital | 3,203 | |
Net Cash Provided By Financing Activities | 3,203 | 61,802 |
NET DECREASE IN CASH | (244) | (433) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 244 | 857 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 244 | |
Supplemental disclosure of non cash investing & financing activities: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest expense | $ 0 | $ 0 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit Equity - USD ($) | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Accumulated Deficit |
Beginning balance at Sep. 30, 2014 | $ (1,162,761) | $ 0 | $ 11,125 | $ (432,621) | $ (741,265) |
Beginning balance, Shares at Sep. 30, 2014 | 0 | 11,125,000 | |||
Net loss | (284,587) | $ 0 | $ 0 | 0 | (284,587) |
Ending balance at Sep. 30, 2015 | (1,447,348) | $ 0 | $ 11,125 | (432,621) | (1,025,852) |
Ending balance, Shares at Sep. 30, 2015 | 0 | 11,125,000 | |||
Capital contribution | 3,203 | $ 0 | $ 0 | 3,203 | 0 |
Net loss | (213,818) | 0 | 0 | (213,818) | |
Ending balance at Sep. 30, 2016 | $ (1,657,963) | $ 0 | $ 11,125 | $ (429,418) | $ (1,239,670) |
Ending balance, Shares at Sep. 30, 2016 | 0 | 11,125,000 |
General Organization and Busine
General Organization and Business | 12 Months Ended |
Sep. 30, 2016 | |
General Organization and Business [Abstract] | |
GENERAL ORGANIZATION AND BUSINESS | NOTE 1. GENERAL ORGANIZATION AND BUSINESS Inspired Builders, Inc. (the “Company”) was incorporated in the State of Nevada in February 2010. Until August 15, 2017 the Company was directing it’s focus on acquiring, investing in, developing and managing real estate properties and related investments. On August 15, 2017, Inspired Builders (the “Company”), the majority shareholders of the Company (the “Sellers”) and JJL Capital Management, LLC (the “Purchaser”) entered into a stock purchase agreement (the “Stock Purchase Agreement”), whereby the Purchaser purchased from the Sellers 5,643,979 shares of common stock, par value $0.001 per share, of the Company (the “Shares”), representing approximately 50.73% of the issued and outstanding shares of the Company, for an aggregate purchase price of $564.39 (the “Purchase Price”). On August 16, 2017, the closing of the transaction occurred (“Closing Date”). Pursuant to the change in control transaction, we relocated to Miami, Florida and ceased all operations as a real estate company. Also, in connection therewith, Matthew Nordgren, the Company’s sole officer and Director, resigned from his positions and named Scott Silverman as sole director and to the positions of CEO, CFO, Chief Accounting Officer and Secretary. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2016 | |
Summary of Significant Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following; estimates of the probability and potential magnitude of contingent liabilities, the valuation allowance for deferred tax assets due to continuing operating losses, valuation of shares issued in connection with the purchase of real estate, the valuation of the real estate and the evaluation of any impairment on the real estate. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from our estimates. Cash and Cash Equivalents Cash and cash equivalents are reported in the balance sheet at cost, which approximates fair value. For the purpose of the financial statements cash equivalents include all highly liquid investments with an original maturity of three months or less when purchased. There were no cash equivalents at September 30, 2016 and September 30, 2015. Earnings (Loss) per Share In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings (loss) per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each 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 has 20,833 and 20,833 shares issuable upon conversion of convertible notes payable that were not included in the computation of dilutive loss per share because their inclusion is anti-dilutive for the periods ended September 30, 2016 and September 30, 2015, respectively. Income Taxes The Company accounts for income taxes in accordance with generally accepted accounting principles which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for differences between financial statement and income tax bases of assets and liabilities that will result in taxable income or deductible expenses in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period adjusted for the change during the period in deferred tax assets and liabilities. The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board (FASB) ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of September 30, 2016, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. All tax returns from fiscal years 2011 to 2016 are subject to IRS audit. Fair Value of Financial Investments The fair value of cash and cash equivalents, accounts payable, accrued liabilities, and notes payable approximates the carrying amount of these financial instruments due to their short-term maturity. Revenue and Cost Recognition The Company has no current source of revenue; therefore, the Company has not yet adopted any policy regarding the recognition of revenue or cost. Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, which creates Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers,” and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. We do not expect the adoption of this standard to have any effect on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, which creates ASC Topic 842, “Leases.” This update increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. We do not expect the adoption of this standard to have any effect on our financial statements. In August 2016, the FASB issued an accounting standards update which provides additional clarity on the classification of specific events on the statement of cash flows. These events include: debt prepayment and extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from settlement of insurance claims, distributions received from equity method investees, and beneficial interests in securitization transactions. The update is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods, with early application permitted. The new accounting standard addresses presentation in the statement of cash flows only and we do not expect the standard to have a material effect on our financial condition, results of operations, cash flows or financial disclosures. In May 2017, the FASB issued ASU No. 2017-09, which amends ASC Topic 718, “Compensation – Stock Compensation”. This amendment provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The standard is effective beginning after December 15, 2017, with early adoption permitted, including adoption for interim periods. This standard must be applied prospectively upon adoption. We do not expect the standard to have a material effect on our financial condition, results of operations, cash flows or financial disclosures. |
Going Concern
Going Concern | 12 Months Ended |
Sep. 30, 2016 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 3. GOING CONCERN As reflected in the accompanying financial statements, the Company has a net loss of $213,818, an accumulated deficit of $1,239,670 and used net cash in operations of $3,447 for the year ended September 30, 2016. In addition, the Company has not had construction revenues since May 2011 and the only prospect for positive cash flow is through the issuance of common stock or debt. If the Company does not begin to generate sufficient revenue or raise additional funds through a financing, the Company may need to incur additional liabilities with certain related parties to sustain the Company’s existence. There are currently no plans or agreements in place to provide such funding. The Company will require additional funding to finance the growth of its future operations as well as to achieve its strategic objectives. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and generate revenue. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Real Estate
Real Estate | 12 Months Ended |
Sep. 30, 2016 | |
Real Estate [Abstract] | |
REAL ESTATE | NOTE 4. REAL ESTATE On June 24, 2013, the Company entered into an agreement with a related party to purchase a parcel of undeveloped land in Duval County, Florida. The purchase price for the Duval property was $1,350,000, payable by the Company’s delivery of a $750,000 mortgage at 3%, which was due on June 24, 2014 and has been extended to June 24, 2015. As of today the note is currently past due. The $600,000 balance of the purchase price was paid by approving the issuance to the seller of 100,000 shares of the Company’s common stock. The $0.001 par value per share was valued by the parties at $6.00 per share, based on the closing price of the stock on the date of the closing. The note is secured by a lien on the real estate. In accordance with ASC 845-10-S99, transfers of nonmonetary assets for stock or other consideration of the registrant are recorded at the predecessor cost. Accordingly, the Company recorded the value of the real estate acquired at the historical basis of $307,504. The Company became aware that there is a real estate tax lien for unpaid taxes at September 30, 2016 and September 30, 2015 of $23,714 and $25,307, respectively. On July 17, 2017, the Company assigned all interests in the property to a related party in exchange for an assumption of the mortgage principal and interest of $750,000 and $90,370 respectively, and the real estate taxes payable of $23,714. |
Employment Agreement
Employment Agreement | 12 Months Ended |
Sep. 30, 2016 | |
Employment Agreement [Abstract] | |
EMPLOYMENT AGREEMENT | NOTE 5. EMPLOYMENT AGREEMENT On September 1, 2013 the Company entered into a three-year employment contract with its CEO. The CEO is to be paid $10,000 per month plus reimbursement for expenses and bonuses as determined by the board. The CEO will be entitled to one week paid vacation and is subject to a one year non-compete agreement at the end of the employment contract. As of June 30, 2014, the Company has paid the CEO a total of $10,000 and has accrued $90,000 for amounts due to the CEO. On June 30, 2014 the Company’s CEO converted $90,000 of accrued salary into an unsecured promissory note. The Note accrues interest at a rate of 5% per annum and is due June 30, 2015. As of September 30, 2016 and September 30, 2015 Company recorded $270,000 and $150,000, respectively of accrued salary. On November 15, 2016, the CEO and the Company entered into a Release and Settlement Agreement whereby the employment contract was terminated and $290,000 in accrued salary was forgiven. The accrued salary was accounted for as contributed capital. |
Mortgage Payable - Related Part
Mortgage Payable - Related Party | 12 Months Ended |
Sep. 30, 2016 | |
Mortgage Payable [Abstract] | |
MORTGAGE PAYABLE - RELATED PARTY | NOTE 6. MORTGAGE PAYABLE – RELATED PARTY On June 24, 2013, the Company entered into an agreement with a related party to purchase a parcel of undeveloped land in Duval County, Florida. The purchase price for the Duval property was $1,350,000, payable by the Company’s delivery of a $750,000 mortgage at 3%, which was due on June 24, 2014 and has been extended to June 24, 2015. As of today the note is currently past due. The $600,000 balance of the purchase price was paid by approving the issuance to the seller of 100,000 shares of the Company’s common stock. The $0.001 par value per share was valued by the parties at $6.00 per share, based on the closing price of the stock on the date of the closing. As of September 30, 2016 and September 30, 2015 the Company has accrued interest of $73,603 and $50,979, respectively, due on the mortgage. On July 17, 2017, the Company assigned all interests in the property to a related party in exchange for an assumption of the mortgage principal and interest of $750,000 and $90,370 respectively. |
Convertible Notes Payable - Rel
Convertible Notes Payable - Related Party | 12 Months Ended |
Sep. 30, 2016 | |
Convertible Notes Payable - Related Party [Abstract] | |
CONVERTIBLE NOTES PAYABLE - RELATED PARTY | NOTE 7. CONVERTIBLE NOTES PAYABLE – RELATED PARTY On January 24, 2014, a related party loaned the Company $10,000, which is evidenced by a secured note payable with an interest rate of 12% and a maturity of January 24, 2015. These funds were used to pay 1 months’ salary to our Chief Executive Officer. If the loan in not repaid by January 24, 2015 it is convertible at the option of the holder into common stock at a share price of $.48 per share. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $3,222 and $2,015, respectively. Subsequently, the related party agreed to extend the promissory note maturity date to January 24, 2017. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $10,000 in principal and $3,373 in accrued interest was forgiven. The transaction was accounted for as contributed capital. |
Notes Payable - Related Parties
Notes Payable - Related Parties | 12 Months Ended |
Sep. 30, 2016 | |
Notes Payable - Related Parties [Abstract] | |
NOTES PAYABLE - RELATED PARTIES | NOTE 8. NOTES PAYABLE – RELATED PARTIES On January 13, 2012 the Company entered into a 12-month unsecured promissory note in the amount of $211,000. Interest accrues in arrears on the outstanding principal at the rate of ten percent (10.00%) per annum. Interest shall be payable on the last day of each quarter, commencing March 30, 2012, and continuing until the maturity date. Should the maker fail to pay the entire principal and accrued interest by the maturity date, the maker agrees that the interest rate shall increase to twelve percent (12.00%) per annum. On May 10, 2013, the Company and the related party agreed to extend the maturity of the loan for an additional year or until January 13, 2014. The loan maturity dates were further extended to January 13, 2016. On May 22, 2012, the Company borrowed an additional $32,714 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On September 17, 2012, the Company borrowed an additional $22,032 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On February 7, 2013, the Company borrowed an additional $28,773 from the related party, with the same terms, and on July 31, 2013, the Company borrowed an additional $30,000 from the related party, with the same terms. The loans maturity dates were further extended to February 7, 2016 and July 31, 2016, respectively. On December 20, 2013, the Company borrowed $2,500, on January 7, 2014, the Company borrowed $5,000, on February 6, 2014, the Company borrowed $5,520, the loans maturity dates were further extended to December 20, 2015 and January 7, 2016. On February 17, 2014, the Company borrowed $4,400 and on June 26, 2014, the Company borrowed $3,080, the loans maturity dates were further extended to February 6, 2016 and February 17, 2016, respectively. Accrued interest at September 30, 2016 and September 30, 2015, amounted to $145,401 and $111,191, respectively. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $342,519 in principal and $149,256 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On November 13, 2013, a related party entered into an unsecured note payable for $25,000 with an interest rate of 5% due November 13, 2014, the maturity date on the loan was further extended to November 11, 2015. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $3,603 and $2,346. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $25,000 in principal and $3,760 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On January 13, 2014 and January 20, 2014, a related party entered into two unsecured note payables for a total of $25,632 with an interest rate of 5% due January 20, 2015, the loans maturity dates were further extended to January 13, 2016 and January 20, 2016, respectively. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $6,461 and $4,053. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $25,632 in principal and $6,763 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On June 19, 2014 the Company’s CEO entered into an unsecured note payable of $30,000 with an interest rate of 10% due on June 19, 2015, the loans maturity was further ended to June 16, 2016. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $6,855 and $3,838 respectively. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $30,000 in principal and $7,233 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On October 14, 2014 the Company’s CEO loaned the Company $3,482, which is evidenced by an unsecured note payable with an interest rate of 5% and a maturity of October 13, 2015. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $342 and $167. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $3,482 in principal and $364 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On October 14, 2014 a related party loaned the Company $3,320, which is evidenced by an unsecured note payable with an interest rate of 5% and a maturity of October 13, 2015. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $326 and $159. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $3,320 in principal and $347 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On June 30, 2014 the Company’s CEO converted $90,000 of accrued salary into an unsecured promissory note. The Note accrues interest at a rate of 5% per annum and is due June 30, 2015. Accrued interest at September 30, 2016 and September 30, 2015 was $10,147 and $5,622, respectively. On November 15, 2016, the CEO and the Company entered into a Release and Settlement Agreement whereby the Note, comprising of $90,000 of principal and $10,714 of interest was forgiven. The transaction was accounted for as contributed capital. On February 20, 2015, a related party entered into an unsecured note payable for $55,000 with an interest rate of 10% due February 20, 2016. Accrued interest as of June 30, 2015 amounted to $2,214. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $8,860 and $3,600. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $55,000 in principal and $9,553 in accrued interest was forgiven. The transaction was accounted for as contributed capital. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 9. COMMITMENTS AND CONTINGENCIES From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise that may harm its business. The Company is currently not aware of any such legal proceedings or claims that they believe will have, individually or in the aggregate, a material adverse effect on its business, financial condition or operating results. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Sep. 30, 2016 | |
Stockholders' Equity [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 10. STOCKHOLDERS’ EQUITY During the year ended September 30, 2016, a related party paid expenses on behalf of the Company of $3,203. |
Concentration of Credit Risk
Concentration of Credit Risk | 12 Months Ended |
Sep. 30, 2016 | |
Concentration of Credit Risk [Abstract] | |
CONCENTRATION OF CREDIT RISK | NOTE 11. CONCENTRATION OF CREDIT RISK The Company relies heavily on the support of its president and majority shareholder. A withdrawal of this support, for any reason, will have a material adverse effect on the Company’s financial position and its operations. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2016 | |
Income Taxes [Abstract] | |
INCOME TAXES | NOTE 12. INCOME TAXES Provision for income taxes is comprised of the following: September 30, September 30, Current tax expense: Federal $ 0 $ 0 State 0 0 Total $ 0 $ 0 A reconciliation of provision for income taxes at the statutory rate to provision for income taxes at the Company’s effective tax rate is as follows: Statutory U.S. federal rate 34 % 34 % Statutory state income tax 5.83 % 5.83 % Less valuation allowance (39.83 %) (39.83 %) Effective rate 0 % 0 % Deferred income taxes are comprised of the following: Deferred Tax Asset $ 148,538 100,737 Tax loss carryforwards 344,821 308,302 Less valuation allowance (493,359 ) (409,039 ) Deferred tax benefit $ 0 $ 0 As of September 30, 2016 and 2015, the Company net operating loss carryforward of approximately $$732,600 and $641,000, respectively. The increase in the valuation allowance for the years ended September 30, 2016 and 2015 was an increase of $84,320 and $114,001 respectively. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 13. RELATED PARTY TRANSACTIONS On January 13, 2012 the Company entered into a 12-month unsecured promissory note in the amount of $211,000. Interest accrues in arrears on the outstanding principal at the rate of ten percent (10.00%) per annum. Interest shall be payable on the last day of each quarter, commencing March 30, 2012, and continuing until the maturity date. Should the maker fail to pay the entire principal and accrued interest by the maturity date, the maker agrees that the interest rate shall increase to twelve percent (12.00%) per annum. On May 10, 2013, the Company and the related party agreed to extend the maturity of the loan for an additional year or until January 13, 2014. The loan maturity dates were further extended to January 13, 2016. On May 22, 2012, the Company borrowed an additional $32,714 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On September 17, 2012, the Company borrowed an additional $22,032 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On February 7, 2013, the Company borrowed an additional $28,773 from the related party, with the same terms, and on July 31, 2013, the Company borrowed an additional $30,000 from the related party, with the same terms. The loans maturity dates were further extended to February 7, 2016 and July 31, 2016, respectively. On December 20, 2013, the Company borrowed $2,500, on January 7, 2014, the Company borrowed $5,000, on February 6, 2014, the Company borrowed $5,520, the loans maturity dates were further extended to December 20, 2015 and January 7, 2016. On February 17, 2014, the Company borrowed $4,400 and on June 26, 2014, the Company borrowed $3,080, the loans maturity dates were further extended to February 6, 2016 and February 17, 2016, respectively. Accrued interest at September 30, 2016 and September 30, 2015, amounted to $145,400 and $111,191, respectively. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $342,519 in principal and $149,256 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On June 24, 2013, the Company entered into an agreement with a related party to purchase a parcel of undeveloped land in Duval County, Florida. The purchase price for the Duval property was $1,350,000, payable by the Company’s delivery of a $750,000 mortgage at 3%, which was due on June 24, 2014 and has been extended to June 24, 2015. As of today the note is currently past due. The $600,000 balance of the purchase price was paid by approving the issuance to the seller of 100,000 shares of the Company’s common stock. The $0.001 par value per share was valued by the parties at $6.00 per share, based on the closing price of the stock on the date of the closing. As of September 30, 2016 and September 30, 2015 the Company has accrued interest of $73,603 and $50,979, respectively, due on the mortgage. On July 17, 2017, the Company assigned all interests in the property to a related party in exchange for an assumption of the mortgage principal and interest of $750,000 and $90,370 respectively. On November 13, 2013, a related party entered into an unsecured note payable for $25,000 with an interest rate of 5% due November 13, 2014, the maturity date on the loan was further extended to November 11, 2015. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $3,603 and $2,346. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $25,000 in principal and $3,760 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On January 13, 2014 and January 20, 2014, a related party entered into two unsecured note payables for a total of $25,632 with an interest rate of 5% due January 20, 2015, the loans maturity dates were further extended to January 13, 2016 and January 20, 2016, respectively. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $6,461 and $4,053. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $25,632 in principal and $6,763 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On January 24, 2014, a related party loaned the Company $10,000, which is evidenced by a secured note payable with an interest rate of 12% and a maturity of January 24, 2015. These funds were used to pay 1 months’ salary to our Chief Executive Officer. If the loan in not repaid by January 24, 2015 it is convertible at the option of the holder into common stock at a share price of $.48 per share. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $3,225 and $2,015, respectively. Subsequently, the related party agreed to extend the promissory note maturity date to January 24, 2017. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $10,000 in principal and $3,373 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On June 19, 2014 the Company’s CEO entered into an unsecured note payable of $30,000 with an interest rate of 10% due on June 19, 2015, the loans maturity was further ended to June 16, 2016. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $6,855 and $3,838 respectively. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $30,000 in principal and $7,233 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On October 14, 2014 the Company’s CEO loaned the Company $3,482, which is evidenced by an unsecured note payable with an interest rate of 5% and a maturity of October 13, 2015. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $342 and $167. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $3,482 in principal and $364 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On October 14, 2014 a related party loaned the Company $3,320, which is evidenced by an unsecured note payable with an interest rate of 5% and a maturity of October 13, 2015. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $326 and $159. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $3,320 in principal and $347 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On June 30, 2014 the Company’s CEO converted $90,000 of accrued salary into an unsecured promissory note. The Note accrues interest at a rate of 5% per annum and is due June 30, 2015. Accrued interest at September 30, 2016 and September 30, 2015 was $10,147 and $5,622, respectively. On November 15, 2016, the CEO and the Company entered into a Release and Settlement Agreement whereby the Note, comprising of $90,000 of principal and $10,714 of interest was forgiven. The transaction was accounted for as contributed capital. On February 20, 2015, a related party entered into an unsecured note payable for $55,000 with an interest rate of 10% due February 20, 2016. Accrued interest as of June 30, 2015 amounted to $2,214. Accrued interest at September 30, 2016 and September 30, 2015 amounted to $8,860 and $3,600. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $55,000 in principal and $9,553 in accrued interest was forgiven. The transaction was accounted for as contributed capital. During the year ended September 30, 2016, a related party paid expenses on behalf of the Company of $3,203. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2016 | |
Subsequent Event [Abstract] | |
SUBSEQUENT EVENTS | NOTE 14. SUBSEQUENT EVENTS On November 15, 2016, our CEO and the Company entered into a Release and Settlement Agreement whereby an Employment Contract was terminated and $290,000 in accrued salary was forgiven. The accrued salary was accounted for as contributed capital (See Note 5). On November 15, 2016, the Company and a related party entered into a Release and Settlement Agreement whereby a Convertible Note Payable in the amount of $10,000 in principal and $3,373 in accrued interest was forgiven. The transaction was accounted for as contributed capital (See Note 7). On November 15, 2016, the Company and a related party entered into a Release and Settlement Agreement whereby multiple notes payable in the aggregate amounts of $342,519 in principal and $149,256 in accrued interest were forgiven. The transaction was accounted for as contributed capital (See Note 8). On November 15, 2016, the Company and a related party entered into a Release and Settlement Agreement whereby a Note Payable in the amounts of $25,000 in principal and $3,760 in accrued interest was forgiven. The transaction was accounted for as contributed capital (See Note 8). On November 15, 2016, the Company and a related party entered into a Release and Settlement Agreement whereby a Note Payable in the amounts of $25,632 in principal and $6,763 in accrued interest was forgiven. The transaction was accounted for as contributed capital (See Note 8). On November 15, 2016, the Company and a related party entered into a Release and Settlement Agreement whereby a Note Payable in the amounts of $30,000 in principal and $7,233 in accrued interest was forgiven. The transaction was accounted for as contributed capital (See Note 8) On November 15, 2016, the Company and CEO entered into a Release and Settlement Agreement whereby a Note Payable in the amounts of $3,482 in principal and $364 in accrued interest was forgiven. The transaction was accounted for as contributed capital (See Note 8). On November 15, 2016, the Company and a related party entered into a Release and Settlement Agreement whereby a Note Payable in the amounts of $3,320 in principal and $347 in accrued interest was forgiven. The transaction was accounted for as contributed capital (See Note 8). On November 15, 2016, the CEO and the Company entered into a Release and Settlement Agreement whereby a Note Payable, comprising of $90,000 of principal and $10,714 of interest was forgiven. The transaction was accounted for as contributed capital (See Note 8). On November 15, 2016, the Company and a related party entered into a Release and Settlement Agreement whereby a Note Payable, comprising of $55,000 in principal and $9,553 in accrued interest was forgiven. The transaction was accounted for as contributed capital (See Note 8). On July 17, 2017, the Company assigned all interests in the property owned in Duval County, FL to a related party in exchange for an assumption of the mortgage principal and interest of $750,000 and $90,370 respectively, and of real estate taxes payable of $23,714 (See Notes 4 and 6). On August 15, 2017, Inspired Builders (the “Company”), the majority shareholders of the Company (the “Sellers”) and JJL Capital Management, LLC (the “Purchaser”) entered into a stock purchase agreement (the “Stock Purchase Agreement”), whereby the Purchaser purchased from the Sellers 5,643,979 shares of common stock, par value $0.001 per share, of the Company (the “Shares”), representing approximately 50.73% of the issued and outstanding shares of the Company, for an aggregate purchase price of $564.39 (the “Purchase Price”). On August 16, 2017, the closing of the transaction occurred (“Closing Date”). Pursuant to the change in control transaction, we relocated to Miami, Florida and ceased all operations as a real estate company. Also, in connection therewith, Matthew Nordgren, the Company’s sole officer and Director, resigned from his positions and named Scott Silverman as sole director and to the positions of CEO, CFO, Chief Accounting Officer and Secretary (See Note 1). On October 17, 2017, a related party loaned the Company $14,300. The loan is interest free and is payable on demand. On October 20, 2017, a related party loaned the Company $825. The loan is interest free and is payable on demand. |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2016 | |
Summary of Significant Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following; estimates of the probability and potential magnitude of contingent liabilities, the valuation allowance for deferred tax assets due to continuing operating losses, valuation of shares issued in connection with the purchase of real estate, the valuation of the real estate and the evaluation of any impairment on the real estate. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from our estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents are reported in the balance sheet at cost, which approximates fair value. For the purpose of the financial statements cash equivalents include all highly liquid investments with an original maturity of three months or less when purchased. There were no cash equivalents at September 30, 2016 and September 30, 2015. |
Earnings (Loss) per Share | Earnings (Loss) per Share In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings (loss) per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each 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 has 20,833 and 20,833 shares issuable upon conversion of convertible notes payable that were not included in the computation of dilutive loss per share because their inclusion is anti-dilutive for the periods ended September 30, 2016 and September 30, 2015, respectively. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with generally accepted accounting principles which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for differences between financial statement and income tax bases of assets and liabilities that will result in taxable income or deductible expenses in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period adjusted for the change during the period in deferred tax assets and liabilities. The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board (FASB) ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of September 30, 2016, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. All tax returns from fiscal years 2011 to 2016 are subject to IRS audit. |
Fair Value of Financial Investments | Fair Value of Financial Investments The fair value of cash and cash equivalents, accounts payable, accrued liabilities, and notes payable approximates the carrying amount of these financial instruments due to their short-term maturity. |
Revenue and Cost Recognition | Revenue and Cost Recognition The Company has no current source of revenue; therefore, the Company has not yet adopted any policy regarding the recognition of revenue or cost. |
Recent accounting pronouncements | Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, which creates Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers,” and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. We do not expect the adoption of this standard to have any effect on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, which creates ASC Topic 842, “Leases.” This update increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. We do not expect the adoption of this standard to have any effect on our financial statements. In August 2016, the FASB issued an accounting standards update which provides additional clarity on the classification of specific events on the statement of cash flows. These events include: debt prepayment and extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from settlement of insurance claims, distributions received from equity method investees, and beneficial interests in securitization transactions. The update is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods, with early application permitted. The new accounting standard addresses presentation in the statement of cash flows only and we do not expect the standard to have a material effect on our financial condition, results of operations, cash flows or financial disclosures. In May 2017, the FASB issued ASU No. 2017-09, which amends ASC Topic 718, “Compensation – Stock Compensation”. This amendment provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The standard is effective beginning after December 15, 2017, with early adoption permitted, including adoption for interim periods. This standard must be applied prospectively upon adoption. We do not expect the standard to have a material effect on our financial condition, results of operations, cash flows or financial disclosures. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Income Taxes [Abstract] | |
Shedule of provision for income taxes | September 30, September 30, Current tax expense: Federal $ 0 $ 0 State 0 0 Total $ 0 $ 0 |
Schedule of reconciliation of provision for income taxes | Statutory U.S. federal rate 34 % 34 % Statutory state income tax 5.83 % 5.83 % Less valuation allowance (39.83 %) (39.83 %) Effective rate 0 % 0 % |
Schedule of deferred income taxes | Deferred Tax Asset $ 148,538 100,737 Tax loss carryforwards 344,821 308,302 Less valuation allowance (493,359 ) (409,039 ) Deferred tax benefit $ 0 $ 0 |
General Organization and Busi23
General Organization and Business (Details) - $ / shares | Aug. 15, 2017 | Sep. 30, 2016 | Sep. 30, 2015 | Jun. 24, 2013 |
General Organization and Business (Textual) | ||||
Common stock, shares issued | 11,125,000 | 11,025,000 | ||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Shares price | $ 6 | |||
Scenario, Forecast [Member] | Majority Shareholder [Member] | ||||
General Organization and Business (Textual) | ||||
Common stock, shares issued | 5,643,979 | |||
Common stock, par value | $ 0.001 | |||
Ownership percentage | 50.73% | |||
Shares price | $ 564.39 |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Details) - shares | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Summary of Significant Accounting Policies (Textual) | ||
Shares issuable upon conversion of convertible notes payable | 20,833 | 20,833 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Going Concern (Textual) | ||
Net loss | $ (213,818) | $ (284,587) |
Accumulated deficit | (1,239,670) | (1,025,852) |
Net cash used in operations | $ (3,447) | $ (61,982) |
Real Estate (Details)
Real Estate (Details) - USD ($) | Jun. 24, 2013 | Jul. 17, 2017 | Sep. 30, 2016 | Sep. 30, 2015 |
Real Estate (Textual) | ||||
Purchase price of property | $ 1,350,000 | |||
Mortgage payable | $ 750,000 | |||
Mortgage interest rate | 3.00% | |||
Maturity period of loan | Jun. 24, 2014 | |||
Extended maturity period | Jun. 24, 2015 | |||
Balance amount | $ 600,000 | |||
Shares issued | 100,000 | |||
Shares price | $ 6 | |||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Real estate acquired at historical basis | $ 307,504 | |||
Real estate unpaid taxes | $ 23,714 | $ 25,307 | ||
Scenario, Forecast [Member] | ||||
Real Estate (Textual) | ||||
Mortgage principal amount | $ 750,000 | |||
Interest amount | 90,370 | |||
Real estate taxes payable | $ 23,714 |
Employment Agreement (Details)
Employment Agreement (Details) - USD ($) | Sep. 01, 2013 | Nov. 15, 2016 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 |
Employment Agreement (Textual) | |||||
Accrued salary | $ 270,000 | $ 150,000 | |||
Chief Executive Officer [Member] | |||||
Employment Agreement (Textual) | |||||
Accrued salary | $ 90,000 | ||||
Accrued interest | 5.00% | ||||
Maturity date, description | Due June 30, 2015 | ||||
Salary paid | $ 10,000 | ||||
Reimbursement Expenses | $ 10,000 | ||||
Employment contract | Three year | ||||
Subsequent Event [Member] | Chief Executive Officer [Member] | |||||
Employment Agreement (Textual) | |||||
Settlement agreement | $ 290,000 |
Mortgage Payable - Related Pa28
Mortgage Payable - Related Party (Details) - USD ($) | Jun. 24, 2013 | Jul. 17, 2017 | Sep. 30, 2016 | Sep. 30, 2015 |
Mortgage Payable (Textual) | ||||
Purchase price of property | $ 1,350,000 | |||
Mortgage interest rate | 3.00% | |||
Mortgage payable | $ 750,000 | |||
Maturity period of loan | Jun. 24, 2014 | |||
Extended maturity period | Jun. 24, 2015 | |||
Shares issued | 100,000 | |||
Balance amount | $ 600,000 | |||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Shares price | $ 6 | |||
Accrued interest | $ 73,603 | $ 50,979 | ||
Scenario, Forecast [Member] | ||||
Mortgage Payable (Textual) | ||||
Mortgage principal amount | $ 750,000 | |||
Interest amount | $ 90,370 |
Convertible Notes Payable - R29
Convertible Notes Payable - Related Party (Details) - USD ($) | Jan. 24, 2014 | Jun. 24, 2013 | Nov. 15, 2016 | Sep. 30, 2016 | Sep. 30, 2015 |
Related Party Transactions (Textual) | |||||
Related party loan | $ 577,453 | $ 577,453 | |||
Maturity period of loan | Jun. 24, 2014 | ||||
Extended maturity period | Jun. 24, 2015 | ||||
Share price | $ 6 | ||||
Accrued interest | 73,603 | 50,979 | |||
Principal amount | $ 342,519 | ||||
Convertible notes payable [Member] | |||||
Related Party Transactions (Textual) | |||||
Related party loan | $ 10,000 | ||||
Interest rate | 12.00% | ||||
Maturity period of loan | Jan. 24, 2015 | ||||
Extended maturity period | Jan. 24, 2017 | ||||
Share price | $ 0.48 | ||||
Accrued interest | $ 3,222 | $ 2,015 | |||
Subsequent Event [Member] | Convertible notes payable [Member] | |||||
Related Party Transactions (Textual) | |||||
Principal amount | $ 10,000 | ||||
Settlement agreement | $ 3,373 |
Notes Payable - Related Parti30
Notes Payable - Related Parties (Details) - USD ($) | Feb. 20, 2015 | Oct. 14, 2014 | Jun. 19, 2014 | Jan. 24, 2014 | Jan. 20, 2014 | Jan. 13, 2014 | Nov. 13, 2013 | Jun. 24, 2013 | Jan. 13, 2012 | Nov. 15, 2016 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Jun. 26, 2014 | Feb. 17, 2014 | Feb. 06, 2014 | Jan. 07, 2014 | Dec. 20, 2013 | Jul. 31, 2013 | Feb. 07, 2013 | Sep. 17, 2012 | May 22, 2012 |
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 577,453 | $ 577,453 | ||||||||||||||||||||
Maturity period of loan | Jun. 24, 2014 | |||||||||||||||||||||
Accrued interest | 73,603 | 50,979 | ||||||||||||||||||||
Total outstanding principal | 342,519 | |||||||||||||||||||||
Unsecured note payable [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Duration of unsecured promissory note | 12 months | |||||||||||||||||||||
Unsecured promissory note | $ 211,000 | |||||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||||
Increase interest rate incase of failure in repayment of note payable | 12.00% | |||||||||||||||||||||
Additional notes payable borrowed from related party | $ 3,080 | $ 4,400 | $ 5,520 | $ 5,000 | $ 2,500 | $ 30,000 | $ 28,773 | $ 22,032 | $ 32,714 | |||||||||||||
Accrued interest | 145,401 | 111,191 | ||||||||||||||||||||
Unsecured note payable 1 [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 25,000 | |||||||||||||||||||||
Interest rate | 5.00% | |||||||||||||||||||||
Maturity period of loan | Nov. 11, 2015 | |||||||||||||||||||||
Accrued interest | 3,603 | 2,346 | ||||||||||||||||||||
Total outstanding principal | $ 25,000 | |||||||||||||||||||||
Unsecured note payable 2 [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 25,632 | $ 25,632 | ||||||||||||||||||||
Interest rate | 5.00% | 5.00% | ||||||||||||||||||||
Maturity period of loan | Jan. 20, 2016 | Jan. 13, 2016 | ||||||||||||||||||||
Accrued interest | 6,461 | 4,053 | ||||||||||||||||||||
Unsecured note payable 6 [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 55,000 | 3,203 | ||||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||||
Maturity period of loan | Feb. 20, 2016 | |||||||||||||||||||||
Accrued interest | 8,860 | 3,600 | ||||||||||||||||||||
Total outstanding principal | $ 55,000 | |||||||||||||||||||||
Convertible Debt [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 10,000 | |||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||||
Maturity period of loan | Jan. 24, 2015 | Jun. 30, 2015 | ||||||||||||||||||||
Accrued interest | 3,222 | 2,015 | ||||||||||||||||||||
Subsequent Event [Member] | Unsecured note payable [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Total outstanding principal | $ 342,519 | |||||||||||||||||||||
Settlement agreement | 149,256 | |||||||||||||||||||||
Subsequent Event [Member] | Unsecured note payable 1 [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Total outstanding principal | 25,000 | |||||||||||||||||||||
Settlement agreement | 3,760 | |||||||||||||||||||||
Subsequent Event [Member] | Convertible Debt [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Total outstanding principal | 10,000 | |||||||||||||||||||||
Settlement agreement | 3,373 | |||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Maturity period of loan | Jun. 30, 2015 | |||||||||||||||||||||
Chief Executive Officer [Member] | Unsecured note payable 3 [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 30,000 | |||||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||||
Maturity period of loan | Jun. 16, 2016 | |||||||||||||||||||||
Accrued interest | 6,855 | 3,838 | ||||||||||||||||||||
Total outstanding principal | $ 30,000 | |||||||||||||||||||||
Chief Executive Officer [Member] | Unsecured note payable 4 [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 6 | |||||||||||||||||||||
Interest rate | 5.00% | |||||||||||||||||||||
Maturity period of loan | Oct. 13, 2015 | |||||||||||||||||||||
Accrued interest | 342 | 167 | ||||||||||||||||||||
Total outstanding principal | $ 3,482 | |||||||||||||||||||||
Chief Executive Officer [Member] | Unsecured note payable 5 [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Unsecured promissory note | $ 3,320 | |||||||||||||||||||||
Interest rate | 5.00% | |||||||||||||||||||||
Maturity period of loan | Oct. 13, 2015 | |||||||||||||||||||||
Accrued interest | 326 | 159 | ||||||||||||||||||||
Total outstanding principal | $ 3,320 | |||||||||||||||||||||
Chief Executive Officer [Member] | Convertible Debt [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Accrued interest | $ 10,147 | $ 5,622 | ||||||||||||||||||||
Total outstanding principal | $ 90,000 | |||||||||||||||||||||
Chief Executive Officer [Member] | Subsequent Event [Member] | ||||||||||||||||||||||
Note Payable - Related Party (Textual) | ||||||||||||||||||||||
Settlement agreement | $ 290,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Commitments and Contingencies (Textual) | ||
Real estate unpaid taxes | $ 23,714 | $ 25,307 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Stockholders' Equity [Textual] | ||
Related party paid expenses | $ 61,802 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Current tax expense: | ||
Federal | $ 0 | $ 0 |
State | 0 | 0 |
Total | $ 0 | $ 0 |
Income Taxes (Details 1)
Income Taxes (Details 1) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Income Taxes [Abstract] | ||
Statutory U.S. federal rate | 34.00% | 34.00% |
Statutory state income tax | 5.83% | 5.83% |
Less valuation allowance | (39.83%) | (39.83%) |
Effective rate | 0.00% | 0.00% |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Income Taxes [Abstract] | ||
Deferred Tax Asset | $ 148,538 | $ 100,737 |
Tax loss carryforwards | 344,821 | 308,302 |
Less valuation allowance | (493,359) | (409,039) |
Deferred tax benefit | $ 0 | $ 0 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Income Taxes (Textual) | ||
Net operating loss carryforward | $ 732,600 | $ 641,000 |
Increase in valuation allowance | $ 84,320 | $ 114,001 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Feb. 20, 2015 | Oct. 14, 2014 | Jun. 19, 2014 | Jan. 24, 2014 | Jan. 20, 2014 | Jan. 13, 2014 | Nov. 13, 2013 | Sep. 01, 2013 | Jun. 24, 2013 | Jan. 13, 2012 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Jun. 26, 2014 | Feb. 17, 2014 | Feb. 06, 2014 | Jan. 07, 2014 | Dec. 20, 2013 | Jul. 31, 2013 | Feb. 07, 2013 | Sep. 17, 2012 | May 22, 2012 |
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 577,453 | $ 577,453 | ||||||||||||||||||||
Maturity period of loan | Jun. 24, 2014 | |||||||||||||||||||||
Accrued interest | 73,603 | 50,979 | ||||||||||||||||||||
Related parties per share | $ 6 | |||||||||||||||||||||
Total outstanding principal | 342,519 | |||||||||||||||||||||
Principal amount | 342,519 | |||||||||||||||||||||
Purchase price of property | $ 1,350,000 | |||||||||||||||||||||
Mortgage interest rate | 3.00% | |||||||||||||||||||||
Real estate acquired at historical basis | $ 307,504 | |||||||||||||||||||||
Real estate unpaid taxes | $ 23,714 | $ 25,307 | ||||||||||||||||||||
Mortgage payable | $ 750,000 | |||||||||||||||||||||
Shares issued | 100,000 | |||||||||||||||||||||
Balance amount | $ 600,000 | |||||||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||
Accrued salary | $ 270,000 | $ 150,000 | ||||||||||||||||||||
Accrued Payroll Taxes | 11,290 | |||||||||||||||||||||
July 17, 2017 [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Real estate taxes payable | 23,714 | |||||||||||||||||||||
Mortgage interest amount | 90,370 | |||||||||||||||||||||
Mortgage payable | 750,000 | |||||||||||||||||||||
Secured note payable [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 10,000 | |||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||||
Maturity period of loan | Jan. 24, 2015 | |||||||||||||||||||||
Accrued interest | 3,225 | 2,015 | ||||||||||||||||||||
Total outstanding principal | $ 10,000 | |||||||||||||||||||||
Principal amount | $ 10,000 | |||||||||||||||||||||
Share price | $ 0.48 | |||||||||||||||||||||
Accrued interest, description | 3,373 in accrued interest was forgiven. | |||||||||||||||||||||
Unsecured Debt [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 211,000 | |||||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||||
Increase interest rate incase of failure in repayment of note payable | 12.00% | |||||||||||||||||||||
Accrued interest | 145,401 | 111,191 | ||||||||||||||||||||
Duration of unsecured promissory note | 12 months | |||||||||||||||||||||
Additional notes payable borrowed from related party | $ 3,080 | $ 4,400 | $ 5,520 | $ 5,000 | $ 2,500 | $ 30,000 | $ 28,773 | $ 22,032 | $ 32,714 | |||||||||||||
Convertible notes payable [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 10,000 | |||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||||
Maturity period of loan | Jan. 24, 2015 | Jun. 30, 2015 | ||||||||||||||||||||
Accrued interest | 3,222 | 2,015 | ||||||||||||||||||||
Related parties per share | $ 0.48 | |||||||||||||||||||||
Unsecured note payable 1 [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 25,000 | |||||||||||||||||||||
Interest rate | 5.00% | |||||||||||||||||||||
Maturity period of loan | Nov. 11, 2015 | |||||||||||||||||||||
Accrued interest | 3,603 | 2,346 | ||||||||||||||||||||
Total outstanding principal | $ 25,000 | |||||||||||||||||||||
Principal amount | $ 25,000 | |||||||||||||||||||||
Accrued interest, description | 3,760 in accrued interest was forgiven. | |||||||||||||||||||||
Unsecured note payable 2 [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 25,632 | $ 25,632 | ||||||||||||||||||||
Interest rate | 5.00% | 5.00% | ||||||||||||||||||||
Maturity period of loan | Jan. 20, 2016 | Jan. 13, 2016 | ||||||||||||||||||||
Accrued interest | 6,461 | 4,053 | ||||||||||||||||||||
Accrued interest, description | $6,763 in accrued interest was forgiven. | $6,763 in accrued interest was forgiven. | ||||||||||||||||||||
Unsecured note payable 6 [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 55,000 | 3,203 | ||||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||||
Maturity period of loan | Feb. 20, 2016 | |||||||||||||||||||||
Accrued interest | 8,860 | 3,600 | ||||||||||||||||||||
Total outstanding principal | $ 55,000 | |||||||||||||||||||||
Principal amount | $ 55,000 | |||||||||||||||||||||
Accrued interest, description | $9,553 in accrued interest was forgiven. | |||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Maturity period of loan | Jun. 30, 2015 | |||||||||||||||||||||
Reimbursement Expenses | $ 10,000 | |||||||||||||||||||||
Accrued interest | 5.00% | |||||||||||||||||||||
Salary paid | $ 10,000 | |||||||||||||||||||||
Accrued salary | 90,000 | |||||||||||||||||||||
Employment contract | Three year | |||||||||||||||||||||
Chief Executive Officer [Member] | Convertible notes payable [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Accrued interest | 10,147 | 5,622 | ||||||||||||||||||||
Total outstanding principal | 90,000 | |||||||||||||||||||||
Principal amount | $ 90,000 | |||||||||||||||||||||
Chief Executive Officer [Member] | Unsecured note payable 3 [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 30,000 | |||||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||||
Maturity period of loan | Jun. 16, 2016 | |||||||||||||||||||||
Accrued interest | 6,855 | 3,838 | ||||||||||||||||||||
Total outstanding principal | $ 30,000 | |||||||||||||||||||||
Principal amount | $ 30,000 | |||||||||||||||||||||
Chief Executive Officer [Member] | Unsecured note payable 4 [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 6 | |||||||||||||||||||||
Interest rate | 5.00% | |||||||||||||||||||||
Maturity period of loan | Oct. 13, 2015 | |||||||||||||||||||||
Accrued interest | 342 | 167 | ||||||||||||||||||||
Total outstanding principal | $ 3,482 | |||||||||||||||||||||
Principal amount | $ 3,482 | |||||||||||||||||||||
Accrued interest, description | $364 in accrued interest was forgiven. | |||||||||||||||||||||
Chief Executive Officer [Member] | Unsecured note payable 5 [Member] | ||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||
Related party loan | $ 3,320 | |||||||||||||||||||||
Interest rate | 5.00% | |||||||||||||||||||||
Maturity period of loan | Oct. 13, 2015 | |||||||||||||||||||||
Accrued interest | $ 326 | $ 159 | ||||||||||||||||||||
Total outstanding principal | $ 3,320 | |||||||||||||||||||||
Principal amount | $ 3,320 | |||||||||||||||||||||
Accrued interest, description | $347 in accrued interest was forgiven. |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Jun. 24, 2013 | |
Subsequent Events (Textual) | |||
Accrued salary forgiven | $ 270,000 | $ 150,000 | |
Principal amount | $ 342,519 | ||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Related party loaned | $ 61,802 | ||
July 17, 2017 [Member] | |||
Subsequent Events (Textual) | |||
Mortgage interest amount | 90,370 | ||
Real estate taxes payable. | 23,714 | ||
Mortgage principal | $ 750,000 | ||
August 15, 2017 [Member] | JJL Capital Management, LLC [Member] | |||
Subsequent Events (Textual) | |||
Common stock shares issued under stock purchase agreement | 5,643,979 | ||
Common stock aggregate purchase price | $ 564.39 | ||
Common stock, par value | $ 0.001 | ||
Sale of Stock, Transaction Date | Aug. 16, 2016 | ||
Percentage of issued and outstanding shares | 50.73% | ||
October 17, 2017 [Member] | |||
Subsequent Events (Textual) | |||
Related party loaned | $ 14,300 | ||
October 20, 2017 [Member] | |||
Subsequent Events (Textual) | |||
Related party loaned | 825 | ||
Release and Settlement Agreement [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued salary forgiven | $ 290,000 | ||
Release and Settlement Agreement One [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 3,373 in accrued interest was forgiven. | ||
Principal amount | $ 10,000 | ||
Release and Settlement Agreement Two [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 149,256 in accrued interest were forgiven. | ||
Principal amount | $ 342,519 | ||
Release and Settlement Agreement Three [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 3,760 in accrued interest was forgiven. | ||
Principal amount | $ 25,000 | ||
Release and Settlement Agreement Four [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 6,763 in accrued interest was forgiven. | ||
Principal amount | $ 25,632 | ||
Release and Settlement Agreement Five [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 7,233 in accrued interest was forgiven. | ||
Principal amount | $ 30,000 | ||
Release and Settlement Agreement Six [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 364 in accrued interest was forgiven. | ||
Principal amount | $ 3,482 | ||
Release and Settlement Agreement Seven [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 347 in accrued interest was forgiven. | ||
Principal amount | $ 3,320 | ||
Release and Settlement Agreement Eight [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 10,714 of interest was forgiven. | ||
Principal amount | $ 90,000 | ||
Release and Settlement Agreement Nine [Member] | November 15, 2016 [Member] | |||
Subsequent Events (Textual) | |||
Accrued interest, description | 9,553 in accrued interest was forgiven. | ||
Principal amount | $ 55,000 |