| Summary of Significant Accounting Policies | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES Basis of Accounting The accompanying unaudited financial
statements have been prepared in conformity with generally accepted accounting principles in the United States of America. However,
certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles
generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the
Securities and Exchange Commission (SEC), In the opinion of management, all adjustments of a normal recurring nature
necessary for a fair presentation have been included. Interim period results are not necessarily indicative of the results to be
achieved for an entire year. These financial statements should be read in conjunction with the audited financial statements and
notes to financial statements as of December 31, 2014 on Form 10-K filed with the Securities and Exchange Commission on March 31,
2015. Cash and Cash Equivalents The Company considers all highly liquid
investments with maturity of three months or less when purchased to be cash equivalents. The Company does not have any cash equivalents
as of June 30, 2015 and December 31, 2014. Use of Estimates and Assumptions The preparation of financial statements
in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions
that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company
has adopted the provisions of ASC 260. Income Taxes The Company uses the asset and liability
method of accounting for income taxes in accordance with ASC 740-10, Accounting for Income Taxes. Under this method,
income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year; and, (ii) deferred tax
consequences of temporary differences resulting from matters that have been recognized in an entitys financial statements
or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in
the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities
of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation
allowance is provided to reduce the deferred tax assets reported if, based on the weight of available positive and negative evidence,
it is more likely than not that some portion or all of the deferred tax assets will not be realized. ASC 740-10 prescribes a recognition
threshold and measurement attribute for the financial statement recognition of a tax position taken or expected to be taken on
a tax return. Under ASC 740-10, a tax benefit from an uncertain tax position taken or expected to be taken may be recognized only
if it is more likely than not that the position is sustainable upon examination, based on its technical merits. The
tax benefit of a qualifying position under ASC 740-10 would equal the largest amount of tax benefit that is greater than 50% likely
of being realized upon ultimate settlement with a taxing authority having full knowledge of all the relevant information. A liability
(including interest and penalties, if applicable) is established to the extent a current benefit has been recognized on a tax return
for matters that are considered contingent upon the outcome of an uncertain tax position. Related interest and penalties, if any,
are included as components of income tax expense and income taxes payable. As of January 1, 2009, we have analyzed
filing positions in each of the federal and state jurisdictions where we are required to file income tax returns, as well as all
open tax years in these jurisdictions. We have identified the U.S. federal and California as our major tax jurisdictions.
Generally, we remain subject to Internal Revenue Service examination of our 2009 through 2014 California Franchise Tax Returns.
However, we have certain tax attribute carry forwards, which will remain subject to review and adjustment by the relevant tax authorities
until the statute of limitations closes with respect to the year in which such attributes are utilized. We believe that our income tax filing
positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change
to our financial position. Therefore, no reserves for uncertain income tax position have been recorded pursuant to ASC 740. In
addition, we did not record a cumulative effect adjustment related to the adoption of ASC 740. Related interest and penalties,
if any, are included as components of income tax expense and income taxes payable. Earnings (loss) per Share The Companys basic income or
loss per share is calculated by dividing its net income or loss available to common stockholders by the weighted average number
of common shares outstanding for the period. The Companys dilutive income or loss per share is calculated by dividing its
net income or loss available to common shareholders by the diluted weighted average number of shares outstanding during the period.
The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive
debt or equity. Fair Value of Financial Instruments The Companys financial instruments
as defined by FASB ASC 825, Financial Instruments FASB ASC 820 Fair Value Measurements
and Disclosures
● Level 1. Observable inputs such as quoted prices in active markets;
● Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
● Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions. Recent Accounting Pronouncements In June 2014, the FASB issued ASU 2014-10,
Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction
of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information
on the statements of operations, cash flows and stockholders equity. The amendments in ASU 2014-10 will be effective prospectively
for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early
adoption is permitted. The Company adopted ASU 2014-10 during the quarter ended June 30, 2014, thereby no longer presenting or
disclosing any information required by Topic 915. In August 2014, the FASB issued the
FASB Accounting Standards Update No. 2014-15 Presentation of Financial StatementsGoing Concern (Subtopic 205-40):
Disclosure of Uncertainties about an Entitys Ability to Continue as a Going Concern (ASU 2014-15). In connection
with preparing financial statements for each annual and interim reporting period, an entitys management should evaluate
whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entitys ability
to continue as a going concern within one year after the date that the financial statements are issued (or within one year after
the date that the financial statements are available to be issued when applicable). Managements evaluation should be based
on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued (or
at the date that the financial statements are available to be issued when applicable). Substantial doubt about an entitys
ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it
is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial
statements are issued (or available to be issued). The term probable is used consistently with its use in Topic 450, Contingencies. When management identifies conditions
or events that raise substantial doubt about an entitys ability to continue as a going concern, management should consider
whether its plans that are intended to mitigate those relevant conditions or events will alleviate the substantial doubt. The mitigating
effect of managements plans should be considered only to the extent that (1) it is probable that the plans will be effectively
implemented and, if so, (2) it is probable that the plans will mitigate the conditions or events that raise substantial doubt about
the entitys ability to continue as a going concern. If conditions or events raise substantial
doubt about an entitys ability to continue as a going concern, but the substantial doubt is alleviated as a result of consideration
of managements plans, the entity should disclose information that enables users of the financial statements to understand
all of the following (or refer to similar information disclosed elsewhere in the footnotes):
a. Principal conditions or events that raised substantial doubt about the entitys ability to continue as a going concern (before consideration of managements plans).
b. Managements evaluation of the significance of those conditions or events in relation to the entitys ability to meet its obligations.
c. Managements plans that alleviated substantial doubt about the entitys ability to continue as a going concern. If conditions or events raise substantial
doubt about an entitys ability to continue as a going concern, and substantial doubt is not alleviated after consideration
of managements plans, an entity should include a statement in the footnotes indicating that there is substantial doubt
about the entitys ability to continue as a going concern
a. Principal conditions or events that raise substantial doubt about the entitys ability to continue as a going concern.
b. Managements evaluation of the significance of those conditions or events in relation to the entitys ability to meet its obligations.
c. Managements plans that are intended to mitigate the conditions or events that raise substantial doubt about the entitys ability to continue as a going concern. We do not expect the effective implementation
of this ASU, beginning in fiscal 2017, to materially impact future disclosures. The Company has implemented all new
accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are
any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results
of operations. |
