Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Nov. 30, 2013 | Jan. 20, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'PHARMA INVESTING NEWS, INC. | ' |
Entity Central Index Key | '0001520047 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--02-28 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Nov-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 10,361,015 |
Condensed_Balance_Sheets
Condensed Balance Sheets (USD $) | Nov. 30, 2013 | Feb. 28, 2013 |
ASSETS | ' | ' |
Cash | ' | $33 |
Prepaid consulting [CS1] | 549,397 | ' |
Total Current Assets | 549,397 | 33 |
Current Liabilities | ' | ' |
Accounts payable and accrued liabilities | 14,241 | 9,113 |
Due to related parties | ' | 56,685 |
Notes payable | 75,059 | ' |
Total Current Liabilities | 89,300 | 65,798 |
STOCKHOLDERS' EQUITY (DEFICIT) | ' | ' |
Preferred Stock, $0.001 par value, 10,000,000 shares authorized, Nil preferred shares issued and outstanding as November 30, 2013 and February 28, 2013. | ' | ' |
Common Stock , $0.001 par value, 290,000,000 authorized, 10,361,015 common shares issued and outstanding at November 30, 2013 and 5,361,015 at February 28, 2013 | 10,361 | 5,361 |
Additional paid-in capital | 716,416 | 19,909 |
Accumulated deficit | 266,680 | 91,035 |
Total Stockholders' Equity (Deficit) | 460,097 | -65,765 |
Total Liabilities and Stockholders' Equity (Deficit) | $549,397 | $33 |
Condensed_Balance_Sheets_Paren
Condensed Balance Sheets (Parenthetical) (USD $) | Nov. 30, 2013 | Feb. 28, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, shares authorized | 290,000,000 | 290,000,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares issued | 10,361,015 | 5,361,015 |
Common stock, shares outstanding | 10,361,015 | 5,361,015 |
Condensed_Statements_Of_Operat
Condensed Statements Of Operations (USD $) | 3 Months Ended | 9 Months Ended | 34 Months Ended | ||
Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' |
Consulting fees | 58,999 | ' | 150,603 | ' | 155,603 |
General and administrative | ' | 413 | 4,219 | 2,372 | 13,313 |
Professional fees | 5,739 | 5,292 | 20,751 | 31,876 | 137,192 |
Total Operating Expenses | 64,738 | 5,705 | 175,573 | 34,248 | 306,108 |
Net loss before Other Income | -64,738 | -5,705 | -175,573 | -34,248 | -306,108 |
Other Income (expense) | ' | ' | ' | ' | ' |
Gain on settlement of debt | ' | ' | ' | 39,500 | 39,500 |
Interest expense | 72 | ' | 72 | ' | 72 |
Total other income (expense) | -72 | ' | -72 | 39,500 | 39,428 |
Net Income ( Loss) | ($64,810) | ($5,705) | ($175,645) | $5,252 | ($266,680) |
Net Loss per Share - Basic and Diluted | ($0.01) | ' | ($0.02) | ' | ' |
Weighted Average Shares Outstanding - Basic and Diluted | 10,361,015 | 5,361,015 | 11,488,288 | 5,300,602 | ' |
Condensed_Statements_Of_Cash_F
Condensed Statements Of Cash Flows (USD $) | 9 Months Ended | 34 Months Ended | |
Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income (loss) | ($175,645) | $5,252 | ($266,680) |
Adjustments to reconcile net loss to cash used in operating activities: | ' | ' | ' |
Gain on settlement of debt | ' | -39,500 | -39,500 |
Expenses paid by related party | ' | 35,500 | 43,817 |
Expenses paid by third party | 19,914 | ' | 19,914 |
Common stock issued for services | 150,603 | ' | 150,603 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts payable and accrued liabilities | 5,128 | -8,920 | 53,741 |
NET CASH USED IN OPERATING ACTIVITIES | ' | -7,668 | -38,105 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from issuance of common shares | ' | 12,551 | 25,270 |
Repayments on notes payable | 33 | ' | 33 |
Proceeds from related party notes payable | ' | 840 | 30,954 |
Repayments to related party notes payable | ' | 18,086 | 18,086 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | -33 | -4,695 | 38,105 |
NET INCREASE (DECREASE) IN CASH | -33 | -12,363 | ' |
CASH, BEGINNING OF PERIOD | 33 | 12,386 | ' |
CASH, END OF PERIOD | ' | 23 | ' |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' | ' |
Common stock issued for services | 700,000 | ' | 700,000 |
Cancellation of shares | 5,000 | ' | 5,000 |
Forgiveness of related party debt | 1,507 | ' | 1,507 |
Assignment of related party debt to non-related party | $55,145 | ' | $55,145 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 9 Months Ended |
Nov. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of significant accounting policies | ' |
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
A. Organization and General Description of Business | |
Pharma Investing News, Inc. (the “Company”) was incorporated in the State of Nevada on February 8, 2011. On December 18, 2013, the Company changed its name from Pharma Investing News, Inc. to ImmunoClin Corporation. The Company is a Development Stage Company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities. | |
The Company is in the process of filing with FINRA to enact the name change to ImmunoClin Corporation and file for a stock symbol change. | |
B. Basis of Presentation | |
These condensed financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. The Company’s fiscal year end is February 28. | |
C. Interim Financial Reporting | |
While the information presented in the accompanying interim financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"). These interim financial statements follow the same accounting policies and methods of application as used in the February 28, 2013 audited financial statements of Pharma Investing News, Inc. (the “Company”). All adjustments are of a normal, recurring nature. Interim financial statements and the notes thereto do not contain all of the disclosures normally found in year-end audited financial statements and these Notes to Financial Statements are abbreviated and contain only certain disclosures related to the nine month periods ended November 30, 2013 and 2012. It is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and related notes for the year ended February 28, 2013 included in our Form 10-K, filed with the Securities Exchange Commission on June 13, 2013. Operating results for the three and nine months ended November 30, 2013 are not necessarily indicative of the results that can be expected for the year ending February 28, 2014. | |
D. Use of Estimates | |
The preparation of condensed 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 the disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the condensed financial statements in the period they are determined. | |
E. Basic and Diluted Net Income (Loss) Per Share | |
Under ASC 260, "Earnings Per Share" ("EPS"), the Company provides for the calculation of basic and diluted earnings per share. Basic EPS includes no dilution and is computed by dividing income or loss available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution of securities that could share in the earnings or losses of the entity. As of November 30, 2013 the Company had no potential dilutive securities. | |
F. Cash and Cash Equivalents | |
The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. | |
G. Fair Value Measurements | |
Under ASC Topic 820, the Company discloses the estimated fair values of financial instruments. The carrying amounts reported in the balance sheet for current assets and current liabilities qualifying as financial instruments are a reasonable estimate of fair value. | |
In accordance with the reporting requirements of ASC Topic 825, Financial Instruments, the Company calculates the fair value of its assets and liabilities which qualify as financial instruments under this standard and includes this additional information in the notes to the condensed financial statements when the fair value is different than the carrying value of those financial instruments. The estimated fair value of other current assets and current liabilities approximate their carrying amounts due to the relatively short maturity of these instruments. None of these instruments are held for trading purposes. | |
H. Income Taxes | |
Under ASC Topic 740, “Income Taxes”, the Company is required to account for its income taxes through the establishment of a deferred tax asset or liability for the recognition of future deductible or taxable amounts and operating loss and tax credit carry forwards. Deferred tax expense or benefit is recognized as a result of timing differences between the recognition of assets and liabilities for book and tax purposes during the year. | |
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. Deferred tax assets are recognized for deductible temporary differences and operating loss, and tax credit carry forwards. A valuation allowance is established to reduce that deferred tax asset if it is "more likely than not" that the related tax benefits will not be realized. | |
I. Unfiled Federal Tax Returns | |
For the years ending February 29, 2012 and February 28, 2013, the Company has not filed any federal tax returns. The Company estimates that the amount of penalties, if any, will not have a material effect on the results of operations, cash flows or financial position. No provisions have been made in the financial statements for such penalties, if any. | |
J. Stock-Based Compensation | |
Under ASC Topic 718, ‘‘Compensation-Stock Compensation’’, the Company is required to measure all employee share-based payments, including grants of employee stock options, using a fair-value-based method and the recording of such expense in the statements of operations. The Company has adopted ASC Topic 718 (SFAS 123R) as of January 1, 2006 and recognizes stock-based compensation expense using the modified prospective method. | |
K. Revenue Recognition | |
Revenue is recognized at the time the educational materials or online seminars are provided and billed to the customer and collection of such fee is reasonably assured. License fees and joint-venture profit sharing when evidenced by executed agreements, and other fees are recognized when earned and collection is reasonably assured. | |
L. Recent Accounting Pronouncements | |
During the nine months ended November 30, 2013 and through January 14, 2014, there were several new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s financial statements. | |
M. Reclassifications | |
For comparative purposes, certain prior period condensed financial statements items have been reclassified to conform with the current report classifications. |
Going_Concern
Going Concern | 9 Months Ended |
Nov. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Going concern | ' |
2. GOING CONCERN | |
The accompanying condensed financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate the continuation of the Company as a going concern. The Company reported an accumulated deficit of $266,680 and had a stockholders’ equity of $460,097 at November 30, 2013. | |
The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company’s future operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Nov. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related party transactions | ' |
3. RELATED PARTY TRANSACTIONS | |
During the period ended November 30, 2013, the Company made cash payments of $33 and its former President and Director forgave $1,506 of amounts owed from the Company, which has been recorded as additional paid-in capital. On April 25, 2013, $55,145 was reassigned from the former CEO/President and Director, Robert Lawrence to Jagpal Holdings, Inc., a non-related party (see Note 4). | |
As of November 30, 2013, the Company does not owe any monies to officers or directors of the Company. |
Notes_Payable
Notes Payable | 9 Months Ended |
Nov. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Notes payable | ' |
4. NOTES PAYABLE | |
On November 30, 2013, $55,145 in notes payable are due to Jagpal Holdings, Inc. (see Note 3). During the nine months ended November 30, 2013, Jagpal Holdings, Inc. loaned the Company $17,852 through 3rd party payments to suppliers, secured by a promissory note on June 1, 2013. The notes are without interest and due and payable in 12 months on April 25, 2014 and June 1, 2014, respectively. On October 21, 2013, $2,062 was loaned to the Company by Intrinsic Venture Corp. through a payment to a supplier and was secured by a promissory note without interest and due and payable in 12 months on October 21, 2014. | |
As of November 30, 2013, a total of $75,059 (February 28, 2013: $0) of notes payable are due to lenders that are non-interest bearing and are due 12 months from the date of issue and loan origination beginning on April 25, 2014 through October 21, 2014. | |
Equity_Transactions
Equity Transactions | 9 Months Ended |
Nov. 30, 2013 | |
Equity [Abstract] | ' |
Equity transactions | ' |
5. EQUITY TRANSACTIONS | |
The Company is authorized to issue 290,000,000 shares of common stock with a par value of $0.001 per share. These shares have full voting rights. There were 10,361,015 issued and outstanding as of November 30, 2013. | |
The Company is also authorized to issue 10,000,000 shares of preferred stock, with a par value of $0.001 per share. There were 0 issued and outstanding as of November 30, 2013. | |
During the nine months ended November 30, 2013, the Company issued the following common stock: | |
On April 5, 2013, the Company issued 10,000,000 shares of common stock with a fair market value of $700,000, or $0.07 per share, to Castor Management Services, Inc. for services rendered under a 3-year business and financial services contract. | |
On July 11, 2013, the former President/CEO and Director of the Company, Robert Lawrence, cancelled and returned to treasury 5,000,000 shares of common stock. The Company recorded $5,000 as additional paid-in-capital for the cancellation. |
Subsequent_Events
Subsequent Events | 9 Months Ended | ||
Nov. 30, 2013 | |||
Subsequent Events [Abstract] | ' | ||
Subsequent events | ' | ||
6. SUBSEQUENT EVENTS | |||
On December 13, 2013, the Company entered into a Take Over Agreement (“TOA”) (Exhibit 99.1) with Immunoclin Limited (“IMC”), an England and Wales Corporation, to acquire 100% of the issued and outstanding shares of IMC from its founder and sole shareholder, Dr. Dorothy Bray, including all of its assets and liabilities (“Assets”), in exchange for the issuance of 10,000,000 shares of the Company’s common stock, with a fair market value of $20,000,000, based on the closing price of the Company’s stock on December 12, 2013. The Company is currently working to engage an independent valuator to assess the value of IMC transaction and will provide an allocation of goodwill and intangibles upon completion of the valuation. | |||
On December 13, 2013, the Company entered into a Control Shareholder Agreement with controlling shareholders, pursuant to which 1,000,000 share of Series A Preferred Stock are to be issued for control services provided to the Company. | |||
On December 13, 2013, the company entered into five-year (5) management agreements with Dr. Dorothy Bray (CEO/President and Director), Chad S. Johnson (COO, General Counsel, and Director), James Scott Munro (CFO), and Raymond Dabney (Managing Consultant) pursuant to which each executive and manager are to receive 1,000,000 Rule 144 restricted common shares of the Company common stock, followed by payments one year following the signing of the Agreement (considered November 30, 2014) of an identical stock bonus of an additional 1,000,000 Form S-8 common shares of the Company common stock and 1,000,000 Rule 144 restricted common shares of the Company common stock. The estimated fair value of each initial 1,000,000 common shares of stock compensation package is $2,000,000, based on the closing price of $2.00 per share for the Company’s stock on December 12, 2013. In addition, Dr. Bray and Mr. Munro are to each receive 1,000,000 Form S-8 common shares of the Company common stock in the Company with a fair market value of $2,000,000, or $2.00 per share. A Black-Scholes model will be used to verify the fair market value of the stock compensation under U.S. GAAP. | |||
On December 18, 2013, the Company filed a Certificate of Amendment with the Nevada Secretary of State to enact the following changes to its Articles: | |||
(i) | Change the Company’s name to ImmunoClin Corporation. | ||
(ii) | Divide the ten million (10,000,000) shares of Preferred Stock previously authorized as follows: | ||
Preferred Stock (current class). The total number of authorized Preferred Stock shall be nine million (9,000,000) shares, with the par value of $0.001 per share and one (1) vote per share. Series A Preferred Stock (new class). The total number of authorized Series A Preferred Stock shall be one million (1,000,000) shares, with par value of $0.001 per share and one thousand (1,000) votes per share. | |||
In regards to the aforementioned subsequent events, refer to Form 8-K filed with the SEC on December 20, 2013, file no. 000-54738 for further details and agreements filed as exhibits thereto. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policies) | 9 Months Ended |
Nov. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Organization and general description of business | ' |
A. Organization and General Description of Business | |
Pharma Investing News, Inc. (the “Company”) was incorporated in the State of Nevada on February 8, 2011. On December 18, 2013, the Company changed its name from Pharma Investing News, Inc. to ImmunoClin Corporation. The Company is a Development Stage Company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities. | |
The Company is in the process of filing with FINRA to enact the name change to ImmunoClin Corporation and file for a stock symbol change. | |
Basis of presentation | ' |
B. Basis of Presentation | |
These condensed financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. The Company’s fiscal year end is February 28. | |
Interim financial reporting | ' |
C. Interim Financial Reporting | |
While the information presented in the accompanying interim financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"). These interim financial statements follow the same accounting policies and methods of application as used in the February 28, 2013 audited financial statements of Pharma Investing News, Inc. (the “Company”). All adjustments are of a normal, recurring nature. Interim financial statements and the notes thereto do not contain all of the disclosures normally found in year-end audited financial statements and these Notes to Financial Statements are abbreviated and contain only certain disclosures related to the nine month periods ended November 30, 2013 and 2012. It is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and related notes for the year ended February 28, 2013 included in our Form 10-K, filed with the Securities Exchange Commission on June 13, 2013. Operating results for the three and nine months ended November 30, 2013 are not necessarily indicative of the results that can be expected for the year ending February 28, 2014. | |
Use of estimates | ' |
D. Use of Estimates | |
The preparation of condensed 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 the disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the condensed financial statements in the period they are determined. | |
Basic and diluted net income (loss) per share | ' |
E. Basic and Diluted Net Income (Loss) Per Share | |
Under ASC 260, "Earnings Per Share" ("EPS"), the Company provides for the calculation of basic and diluted earnings per share. Basic EPS includes no dilution and is computed by dividing income or loss available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution of securities that could share in the earnings or losses of the entity. As of November 30, 2013 the Company had no potential dilutive securities. | |
Cash and cash equivalents | ' |
F. Cash and Cash Equivalents | |
The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents | |
Fair value measurements | ' |
G. Fair Value Measurements | |
Under ASC Topic 820, the Company discloses the estimated fair values of financial instruments. The carrying amounts reported in the balance sheet for current assets and current liabilities qualifying as financial instruments are a reasonable estimate of fair value. | |
In accordance with the reporting requirements of ASC Topic 825, Financial Instruments, the Company calculates the fair value of its assets and liabilities which qualify as financial instruments under this standard and includes this additional information in the notes to the condensed financial statements when the fair value is different than the carrying value of those financial instruments. The estimated fair value of other current assets and current liabilities approximate their carrying amounts due to the relatively short maturity of these instruments. None of these instruments are held for trading purposes. | |
Income taxes | ' |
H. Income Taxes | |
Under ASC Topic 740, “Income Taxes”, the Company is required to account for its income taxes through the establishment of a deferred tax asset or liability for the recognition of future deductible or taxable amounts and operating loss and tax credit carry forwards. Deferred tax expense or benefit is recognized as a result of timing differences between the recognition of assets and liabilities for book and tax purposes during the year. | |
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. Deferred tax assets are recognized for deductible temporary differences and operating loss, and tax credit carry forwards. A valuation allowance is established to reduce that deferred tax asset if it is "more likely than not" that the related tax benefits will not be realized. | |
Unfiled federal tax returns | ' |
I. Unfiled Federal Tax Returns | |
For the years ending February 29, 2012 and February 28, 2013, the Company has not filed any federal tax returns. The Company estimates that the amount of penalties, if any, will not have a material effect on the results of operations, cash flows or financial position. No provisions have been made in the financial statements for such penalties, if any. | |
Stock based compensation | ' |
J. Stock-Based Compensation | |
Under ASC Topic 718, ‘‘Compensation-Stock Compensation’’, the Company is required to measure all employee share-based payments, including grants of employee stock options, using a fair-value-based method and the recording of such expense in the statements of operations. The Company has adopted ASC Topic 718 (SFAS 123R) as of January 1, 2006 and recognizes stock-based compensation expense using the modified prospective method. | |
Revenue recognition | ' |
K. Revenue Recognition | |
Revenue is recognized at the time the educational materials or online seminars are provided and billed to the customer and collection of such fee is reasonably assured. License fees and joint-venture profit sharing when evidenced by executed agreements, and other fees are recognized when earned and collection is reasonably assured. | |
Recent accounting pronouncements | ' |
L. Recent Accounting Pronouncements | |
During the nine months ended November 30, 2013 and through January 14, 2014, there were several new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s financial statements. | |
Reclassification | ' |
M. Reclassifications | |
For comparative purposes, certain prior period condensed financial statements items have been reclassified to conform with the current report classifications. |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 9 Months Ended | 34 Months Ended | 0 Months Ended | 9 Months Ended | |
Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | Apr. 25, 2013 | Nov. 30, 2013 | |
Notes Payable - Jagpal Holdings, Inc | Former President and Director - Robert Lawrence | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Repayments to related party | ' | $18,086 | $18,086 | ' | $33 |
Forgiveness of related party debt | 1,507 | ' | 1,507 | ' | 1,506 |
Assignment of related party debt to non-related party | $55,145 | ' | $55,145 | $55,145 | ' |
Notes_Payable_Narrative_Detail
Notes Payable (Narrative) (Details) (USD $) | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | |
Nov. 30, 2013 | Feb. 28, 2013 | Jun. 01, 2013 | Nov. 30, 2013 | Oct. 21, 2013 | |
Notes Payable - Jagpal Holdings, Inc | Notes Payable - Jagpal Holdings, Inc | Notes Payable - Intrinsic Venture Corp | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Notes payable | $75,059 | ' | $17,852 | $55,145 | $2,062 |
Debt instrument maturity date | ' | ' | 1-Jun-14 | 25-Apr-14 | 21-Oct-14 |
Debt instrument maturity date description | ' | ' | ' | ' | ' |
Due 12 months from the date of issue and loan origination beginning on April 25, 2014 through October 21, 2014. |
Equity_Transactions_Narrative_
Equity Transactions (Narrative) (Details) (USD $) | 9 Months Ended | 34 Months Ended | 0 Months Ended | ||
Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | Jul. 11, 2013 | Apr. 05, 2013 | |
Common Stock | Common Stock | ||||
Former President and Director - Robert Lawrence | Castor Management Services, Inc | ||||
Common stock issued for consulting and management fees | ' | ' | ' | ' | 10,000,000 |
Fair value of common stock issued | $150,603 | ' | $150,603 | ' | $700,000 |
Fair value of common stock per share | ' | ' | ' | ' | $0.07 |
No.of shares cancelled | ' | ' | ' | 5,000,000 | ' |
Value of cancelled shares recorded as additional paid in capital | $5,000 | ' | $5,000 | $5,000 | ' |
Subsequent_Events_Narrative_De
Subsequent Events (Narrative) (Details) (Subsequent Event, USD $) | 0 Months Ended | |||||
Dec. 18, 2013 | Dec. 13, 2013 | Dec. 13, 2013 | Dec. 13, 2013 | |||
Management Agreements | Controlling Shareholders | Take Over Agreement - Immunoclin Limited and Wales Corporation | ||||
Dr. Dorothy Bray, Chad S. Johnson, James Scott Munro, Raymond Dabney | Series A Preferred Stock | |||||
Business acquisition percentage | ' | ' | ' | 100.00% | ||
Stock issued during period in pursuant to acquisition, shares | ' | ' | ' | 10,000,000 | ||
Stock issued during period in pursuant to acquisition, value | ' | ' | ' | $20,000,000 | ||
No.of shares issued for services | ' | ' | 1,000,000 | ' | ||
Subsequent event description | ' | ' | ' | ' | ||
On December 18, 2013, the Company filed a Certificate of Amendment with the Nevada Secretary of State to enact the following changes to its Articles: | On December 13, 2013, the company entered into five-year (5) management agreements with Dr. Dorothy Bray (CEO/President and Director), Chad S. Johnson (COO, General Counsel, and Director), James Scott Munro (CFO), and Raymond Dabney (Managing Consultant) pursuant to which each executive and manager are to receive 1,000,000 Rule 144 restricted common shares of the Company common stock, followed by payments one year following the signing of the Agreement (considered November 30, 2014) of an identical stock bonus of an additional 1,000,000 Form S-8 common shares of the Company common stock and 1,000,000 Rule 144 restricted common shares of the Company common stock. The estimated fair value of each initial 1,000,000 common shares of stock compensation package is $2,000,000, based on the closing price of $2.00 per share for the Company’s stock on December 12, 2013. In addition, Dr. Bray and Mr. Munro are to each receive 1,000,000 Form S-8 common shares of the Company common stock in the Company with a fair market value of $2,000,000, or $2.00 per share. A Black-Scholes model will be used to verify the fair market value of the stock compensation under U.S. GAAP. | |||||
(i) | Change the Company’s name to ImmunoClin Corporation. | |||||
(ii) | Divide the ten million (10,000,000) shares of Preferred Stock previously authorized as follows: | |||||
Preferred Stock (current class). The total number of authorized Preferred Stock shall be nine million (9,000,000) shares, with the par value of $0.001 per share and one (1) vote per share. Series A Preferred Stock (new class). The total number of authorized Series A Preferred Stock shall be one million (1,000,000) shares, with par value of $0.001 per share and one thousand (1,000) votes per share. | ||||||