| Summary of Significant Accounting Policies | NOTE
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization EMS
Find, Inc. formerly Lightcollar, Inc. (the Company) was incorporated on March 22, 2011, under the laws of the State of Nevada.
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, has authorized a forward split (the Forward Split) of its issued and authorized
common shares, whereby every One (1) old share of common stock will be exchanged for Five (5) new shares of the Company's common
stock. As a result, the issued and outstanding shares of common stock will increase 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 will be rounded upward. On
March 10, 2015, the company, with the approval of a majority vote of its shareholders approved the filing of 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 and each Series A Preferred Stock share
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 has, among other things, (i) changed its name to EMS Find,
Inc. and (ii) changes 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., a company incorporated under the laws
of the State of Pennsylvania (EMS), and the shareholder of EMS (the Selling Shareholder) pursuant to a
share exchange agreement by and among the Company, EMS and the Selling Shareholder. The Company will acquire 100% of the
issued and outstanding securities of EMS 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 will also fund $300,000 over the next one hundred and twenty days, to support the continued development and commercialization
of EMS technology, in the following manner: As a result of the Agreement the Selling
Shareholder will acquire up to 49% of the voting rights of Companys currently issued and outstanding shares of common stock.
Upon completion of the Agreement, EMS will become the wholly-owned subsidiary and the Company acquired the business and
operations of EMS. Further, on the Closing date of the Agreement, Steve Rubakh, shall also be appointed the President, Chief
Executive Officer, Chief Financial Officer, Treasurer, Secretary and a Director of the Company, in conjunction with the appointments,
Mr. Matveev Anton will resign all of his positions with the Company. The Agreement is to be completed contingent on the
successful financial audit of EMS Factory, Inc. For
accounting purposes, the acquisition of EMS by EMS Find, Inc. 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. Basis
of Presentation The
consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, EMS Factory, Inc. The
financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). All
intercompany balances and transactions have been eliminated. The year-end of EMS Find, Inc. is March 31 and the year-end
of EMS Factory, Inc. is December 31. The consolidated balance sheet is March 31, 2015 for EMS Find, Inc. consolidated with
December 31, 2014 for EMS Factory, Inc. The consolidated statements of operations and statements of cash flows are for EMS
Factory, Inc. for the years ended December 31, 2014 and 2013. 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. 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 $168 and $818 as of December, 31, 2014 and December,
31, 2013 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. Income
Taxes The
Company accounts for income taxes using the asset and liability method. Deferred income taxes are recognized by applying
enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts of existing
assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. The effect on deferred
tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The
measurement of deferred tax assets is reduced, if necessary, by a valuation allowance for any tax benefits for which future realization
is uncertain. 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 In
accordance with Accounting Standards Codification (ASC) Topic 360, Accounting for the Impairment or Disposal
of Long-Lived Assets, long-lived assets such as property and equipment and intangible assets subject to amortization, are
reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not
be recoverable. Recoverability of assets groups to be held and used is measured by a comparison of the carrying amount of
an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the carrying
amount of an asset group exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the
carrying amount of an asset group exceeds fair value of the asset group. Net
Income Per Share Basic
net income per share is computed by dividing net income by the weighted-average number of outstanding shares of common stock 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. |
