| Summary of Significant Accounting Policies | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES Basis of Presentation The accompanying unaudited interim condensed
financial statements as of and for the three months ended March 31, 2017 have been prepared in accordance with accounting principles
generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions
to Form 10-Q. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals)
considered necessary for a fair presentation have been included. The accompanying unaudited financial statements should be read
in conjunction with the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March
23, 2017. 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 March 31, 2017 and December 31, 2016. Use of Estimates 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. 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 entity’s 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, 2017, 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 2016 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. Loss per Share The Company’s 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 Company’s 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 Company‘s 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 We have adopted all recently issued
accounting pronouncements. The adoption of the accounting pronouncements is not anticipated to have a material effect on our operations. |
