| NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization EMS Find, Inc. (the Company,
we, our, or EMS Find) was incorporated in the State of Nevada on March 22, 2011, under
the name of Lightcollar, Inc. On March 20, 2015, the Company amended its articles of incorporation and changed its name from Lightcollar,
Inc. to EMS Find, Inc. On December 23, 2014, the Company authorized
a forward split (the Forward Split) of its issued and authorized common shares, whereby every one (1) old share of
common stock was exchanged for five (5) new shares of the Company's common stock. As a result, the issued and outstanding shares
of common stock will increased from five million six hundred fifty thousand (5,650,000) common shares prior to the Forward Split
to twenty eight million two hundred fifty thousand (28,250,000) common shares following the Forward Split. Fractional shares were
rounded upward. On March 10, 2015, the Company, with
the approval of a majority vote of its shareholders filed a Certificate of Designation establishing the designations, preferences,
limitations and relative rights of the Companys Series A Preferred Stock (the Designation and the Series
A Preferred Stock). The terms of the Certificate of Designation of the Series A Preferred Stock, which was filed with the
State of Nevada on March 12, 2015, include the right to vote in aggregate, on all shareholder matters equal to 1,000 votes per
share of Series A Preferred Stock, Series A Preferred Stock shares are not convertible into shares of our common stock. Effective March 20, 2015, the Company,
with the approval of its board of directors and its majority shareholders by written consent in lieu of a meeting, filed a Certificate
of Amendment (the Certificate of Amendment) with the Secretary of State of Nevada. As a result of the Certificate
of Amendment, the Company, among other things, (i) changed its name to EMS Find, Inc., and (ii) changed its symbol
to EMSF. On March 23, 2015, the Company issued
50,000 shares of Series A Preferred Stock in consideration for services on the Companys Board of Directors. On March 31, 2015, the Company issued
450,000 shares of Series A Preferred Stock in consideration for services on the Companys Board of Directors. On March 31, 2015, the Company signed
the share exchange agreement with EMS Factory, Inc. (EMS Factory), a company incorporated under the laws of the State
of Pennsylvania, and the shareholder of EMS Factory (the Selling Shareholder) pursuant to a share exchange agreement
by and among the Company, EMS Factory and the Selling Shareholder. The Company will acquired 100% of the issued and outstanding
securities of EMS Factory in exchange for the issuance of 10,000,000 shares of the Companys restricted Common Stock, par
value $0.001 per share and 500,000 shares of the Companys Series A Preferred Stock, par value $0.001. The Company also has
an agreement with an investor to fund $300,000 over the next one hundred and twenty days, to support the continued development
and commercialization of EMS Factorys technology, in the following manner: As a result of the Agreement the Selling
Shareholder acquired up to 49% of the voting rights of Companys currently issued and outstanding shares of common stock.
Upon completion of the agreement, EMS Factory became a wholly-owned subsidiary and the Company acquired the business and operations
of EMS factory. Further, on the Closing date of the Agreement, Steve Rubakh, was appointed the President, Chief Executive Officer,
Chief Financial Officer, Treasurer, Secretary and a Director of the Company, and Mr. Matveev Anton resigned all of his positions
with the Company. For accounting purposes, the acquisition
of EMS Factory by the EMS Find has been recorded as a reverse merger of a public company, with the exception that no goodwill is
generated, and followed up with a recapitalization of EMS based on the factors demonstrating that EMS represents the accounting
acquirer. Consequently, the historical financial information in the accompanying consolidated financial statements is that of EMS. On October 21, 2015, the Company formed
Viva Entertainment Group, Inc. (Viva Entertainment, a Delaware corporation, as a wholly-owned subsidiary. The Company
was formed to manage the development and marketing of its over the top (IPTV/OTT) application for connected
TVs, desktop computers, tablets and smart phones. The IPTV/OTT streamlining platform is designed to be used in homes, offices
or during travel, where users may pay and watch what entertainment they choose based on a subscription or on a pay per view basis. Basis of Presentation The accompanying unaudited consolidated
financial statements of EMS Find, Inc. and its wholly-owned subsidiaries, EMS Factory, Inc. and Viva Entertainment, have been prepared
in accordance with U.S. generally accepted accounting principles (US GAAP) for interim financial information and
the instructions to Form 10-Q and Article 8 of Regulation S-X. The results of operations for the interim period ended December
31, 2015 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30,
2016. All intercompany balances and transactions have been eliminated. In the opinion of the Companys management, the information
contained herein reflects all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the
Companys results of operations, financial position and cash flows. The unaudited interim consolidated financial statements
should be read in conjunction with the audited consolidated financial statements in the Companys Form 10-K for the year
ended June 30, 2015 filed on September 29, 2015 and Managements Discussion and Analysis of Financial Condition and Results
of Operations. For accounting purposes and due to the accounting for the reverse merger, the Company is using the accounting year
end of EMS Factory, Inc., for the presentation in this filing. Nature of Business The Company transitioned its operations
from acting as a licensed ambulance provider to providing medical transportation information and acting as an intermediary coordinating
dispatch services for providers, patients and medical transport companies. The Company is designing, developing, marketing, and
operating software assets mainly in on-demand mobile healthcare sector. Principles of Consolidation The consolidated financial statements
include the accounts of EMS Find and its wholly-owned subsidiaries, EMS Factory and Viva Entertainment. All significant inter-company
balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements
in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenue and expenses during the reporting period. Because of the use of estimates inherent in the financial
reporting process, actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company maintains cash balances
in non-interest-bearing accounts that currently do not exceed federally insured limits. For the purpose of the statements of cash
flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The
Company had cash balances of $86,099 and $45,843 as of December 31, 2015 and June 30, 2015 respectively. Revenue Recognition Our revenue is derived from the service revenue from ambulance
transportation services The Company's revenue recognition policy
is in accordance with the requirements of Staff Accounting Bulletin ("SAB") No. 104, Revenue Recognition ("SAB 104"),
and other applicable revenue recognition guidance under US GAAP. Sales revenue is recognized for our retail and wholesale customers
when: (i) persuasive evidence of a sales arrangement exists, (ii) the sales terms are fixed or determinable, (iii) title and risk
of loss have transferred, and (iv) collectability is reasonably assured generally when products are shipped to the customer
and services are rendered, except in situations in which title passes upon receipt of the products by the customer. In this case,
revenues are recognized upon services rendered. Property and Equipment Property and equipment consists of
Ambulances and medical equipment and are stated at cost. Ambulance and Medical equipment is depreciated using the straight-line
method over the estimated service life of five years. Maintenance and repairs are expensed as incurred and improvements are capitalized.
Gains or losses on the disposition of property and equipment are recorded upon disposal. Impairment of Long-Lived
Assets The Company accounts for long-lived
assets in accordance with the provisions of Statement of Financial Accounting Standards ASC 360-10, Accounting for the Impairment
or Disposal of Long-Lived Assets. This statement requires that long-lived assets and certain identifiable intangibles be
reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted
net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized
is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed
of are reported at the lower of the carrying amount or fair value less costs to sell. Net Earnings (Loss) Per Share In accordance with ASC 260-10, Earnings
Per Share, basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by
the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using
the weighted average number of common and dilutive common stock equivalent shares outstanding during the period. Recent Pronouncements On November 2014, The Financial Accounting
Standards Board (FASB) issued Accounting Standard Update No. 2014-16Derivatives and Hedging (Topic 815): Determining Whether
the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus
of the FASB Emerging Issues Task Force). The amendments in this Update do not change the current criteria in GAAP for determining
when separation of certain embedded derivative features in a hybrid financial instrument is required. That is, an entity will continue
to evaluate whether the economic characteristics and risks of the embedded derivative feature are clearly and closely related to
those of the host contract, among other relevant criteria. The amendments clarify how current GAAP should be interpreted in evaluating
the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share.
The effects of initially adopting the amendments in this Update should be applied on a modified retrospective basis to existing
hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year for which the amendments are
effective. Retrospective application is permitted to all relevant prior periods. On November 2014, The Financial Accounting
Standards Board (FASB) issued Accounting Standard Update No. 2014-17Business Combinations (Topic 805): Pushdown Accounting (a
consensus of the FASB Emerging Issues Task Force). The amendments in this Update provide an acquired entity with an option to apply
pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the
acquired entity. The amendments in this Update are effective on November 18, 2014. After the effective date, an acquired entity
can make an election to apply the guidance to future change-in-control events or to its most recent change-in-control event. However,
if the financial statements for the period in which the most recent change-in-control event occurred already have been issued or
made available to be issued, the application of this guidance would be a change in accounting principle. In August 2014, the FASB issued ASU
2014-15, Presentation of Financial Statements - Going Concern. The new standard requires management of public and private companies
to evaluate whether there is substantial doubt about the entitys ability to continue as a going concern and, if so, disclose
that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The standard requires
management to evaluate, for each reporting period, whether there are conditions or events that raise substantial doubt about a
companys ability to continue as a going concern within one year from the date the financial statements are issued. The new
standard is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after
December 15, 2016. Early adoption is permitted. We do not expect the adoption of the ASU to have a significant impact on our consolidated
financial statements. |
