Lotus Bio-Technology Development (LBTD) 10-K 15 Jul 14 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Mar. 31, 2014
Document and Entity Information:	'
Entity Registrant Name	'Starflick.com Inc.
Document Type	'10-K
Document Period End Date	31-Mar-14
Amendment Flag	'false
Entity Central Index Key	'0001520592
Current Fiscal Year End Date	'--03-31
Entity Common Stock, Shares Outstanding	6,042,500
Entity Filer Category	'Smaller Reporting Company
Entity Current Reporting Status	'Yes
Entity Voluntary Filers	'No
Entity Well-known Seasoned Issuer	'No
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'FY
Entity Public Float	$104,250

STARFLICKCOM_INCORPORATED_Cons

STARFLICK.COM INCORPORATED - Consolidated Balance Sheets (USD $)	Mar. 31, 2014		Mar. 31, 2013
Current Assets:	'		'
Cash and cash equivalents	$105		$4,069
TOTAL ASSETS	105		4,069
Current liabilities:	'		'
Accounts payable and accrued liabilities	18,370		1,350
Due to related parties	33,864		11,996
TOTAL LIABILITIES	52,234		13,346
Stockholders' Equity (Deficiency):	'		'
Preferred stock	'	[1]	'	[1]
Common stock	60	[2]	60	[2]
Additional paid-in capital	103,031		104,240
Retained Deficit	-155,220		-113,577
TOTAL STOCKHOLDERS' DEFICIT	-52,129		-9,277
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$105		$4,069
[1]	100,000,000 authorized, par value $0.00001, nil issued and outstanding.
[2]	100,000,000 authorized, par value $0.00001, 6,042,500 issued and outstanding.

STARFLICKCOM_INCORPORATED_Bala

STARFLICK.COM INCORPORATED - Balance Sheets, Parenthetical (USD $)	Mar. 31, 2014	Mar. 31, 2013
Statement of Financial Position	'	'
Common Stock, Par Value	$0.00	$0.00
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	6,042,500	6,042,500
Common Stock, Shares Outstanding	6,042,500	6,042,500
Preferred Stock, Par Value	$0.00	$0.00
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued	'	'
Preferred Stock, Shares Outstanding	'	'

STARFLICKCOM_INCORPORATED_Cons1

STARFLICK.COM INCORPORATED - Consolidated Statements of Operations (USD $)	12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Expenses	'	'
Accounting and legal	$38,395	$20,460
Rent	1,000	'
Bank charges and interest	'	59
Compensation fees	'	21,619
Stock transfer management	2,248	20,000
Earnings (Loss) from operations	-41,643	-62,138
Net loss	($41,643)	($62,138)
Basic and diluted loss per share	($0.01)	($0.01)
Weighted average number of common shares outstanding, basic and diluted	6,042,500	5,584,427

STARFLICKCOM_INCORPORATED_Cons2

STARFLICK.COM INCORPORATED - Consolidated Statement of Stockholders' Equity (Deficiency) (USD $)	Common Stock	Additional paid-in Capital	Retained Earnings (deficit)	Total
Balance, Value at Mar. 31, 2012	$50	'	($51,439)	($51,389)
Balance, Shares at Mar. 31, 2012	5,000,000	'	'	'
Issuance of common stock, Value	10	104,240	'	104,250
Issuance of common stock, Shares	1,042,500	'	'	'
Net loss	'	'	-62,138	-62,138
Balance, Value at Mar. 31, 2013	60	104,240	-113,577	-9,277
Balance, Shares at Mar. 31, 2013	6,042,500	'	'	'
Acquisition of Black Rock Petroleum	'	-1,209	'	-1,209
Net loss	'	'	-41,643	-41,643
Balance, Value at Mar. 31, 2014	$60	$103,029	($155,220)	($52,129)
Balance, Shares at Mar. 31, 2014	6,042,500	'	'	'

STARFLICKCOM_INCORPORATED_Cons3

STARFLICK.COM INCORPORATED - Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net loss	($41,643)	($62,138)
Adjustments to reconcile net loss to net cash used in operating activities	'	'
Impairment expense	'	'
Changes in non-cash working capital:	'	'
Accounts payable and accrued liabilities, increase decrease	17,020	-10,066
Net cash provided by (used in) operating activities	-24,623	-72,204
Cash Flows from investing activities:	'	'
Investments in subsidiaries	-1,209	'
Net cash provided by (used in) investing activities	-1,209	'
Cash Flows from financing activities:	'	'
Proceeds from issuance of common stock	'	104,250
Due to related parties, increase decrease	21,868	-28,388
Net cash provided by (used in) financing activities	21,868	75,862
Increase (Decrease) in cash and cash equivalents	-3,964	3,658
Cash and cash equivalents, beginning of period	4,069	411
Cash and cash equivalents, end of period	$105	$4,069

1_Nature_of_Operations

1. Nature of Operations	12 Months Ended
	Mar. 31, 2014
Notes	'
1. Nature of Operations	'
	1.  NATURE OF OPERATIONS
	Starflick.Com Incorporated (“we”, “our”, the “Company”) is a business whose planned principal operations are the development of screen plays into low budget film/TV / web TV, and theatrical release dependant on success. The company is currently in negotiations with producers/directors for these developments. As of March 31, 2014 the Company has had no operating revenues to date.

2_Going_Concern

2. Going Concern	12 Months Ended
	Mar. 31, 2014
Notes	'
2. Going Concern	'
	2. GOING CONCERN
	The Company's financial statements are prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business.   As shown in the accompanying financial statements, the Company has incurred a net loss of ($155,220) through March 31, 2014. The Company has sustained losses and additional equity financing will be required by the Company to fund its development activities and to support operations. However, there is no assurance that the Company will be able to obtain additional financing. The Company has not generated any operating revenues to date. Furthermore, the Company’s existence is dependent upon management’s ability to develop profitable operations. These factors, among others, raise substantial doubt that the Company will be able to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty.

3_Summary_of_Significant_Accou

3. Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2014
Notes	'
3. Summary of Significant Accounting Policies	'
	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation and Principles of Consolidation
	The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in United States dollars. The consolidated financial statements include the accounts of the Company; its wholly-owned subsidiary Black Rock Petroleum Company formed in April 2013. All intercompany accounts and transactions are eliminated in consolidation.
	Cash and Cash Equivalents
	As at December 31, 2014 cash and cash equivalents consist of only cash.
	Accounting 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  revenues  and  expenses during the reporting period.  Actual results could differ from those estimates and assumptions.
	Loss per Share
	Loss  per  share  is  computed  using  the  weighted  average  number  of shares outstanding during  the  period.  We have adopted ASC 260, "Earnings Per Share".  Diluted loss per share for year ended March 31, 2014 is equivalent to basic loss per share as there was no potential dilutive equity instrument.
	Foreign Currency Transactions
	The Company's functional currency is Canadian dollars and its reporting currency is the United States dollar.
	The Company’s financial statements are translated from its functional currency, Canadian dollars, to the reporting currency, United States dollars, using the current rate method. Assets and liabilities are translated using the current rate in effect at the balance sheet date and revenues and expenses are translated at the average rate for the period. Adjustments resulting from the translation, if any, are included in cumulative other comprehensive income (loss) in stockholders’ equity. At March 31, 2014, the Company did not have any other comprehensive income (loss).
	Stock-Based Compensation
	The Company adopted ASC 718, Compensation – Stock-Based Compensation, to account for its stock options and similar equity instruments issued.  Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period.  ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid.  We did not grant any stock options during the period from March 24, 2011 (inception) to March 31, 2014.
	Comprehensive Income
	We adopted ASC 220, Comprehensive Income, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances.  We are disclosing this information on our Statement of Stockholders' Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners.  We have no elements of "other comprehensive income” as of March 31, 2014 and 2013.
	Website Development Costs
	Website development costs are for the development of the Company's Internet website.  These costs have been capitalized when acquired and installed, and will be amortized over its estimated useful life of three periods on a straight line basis.  The Company accounts for these costs in accordance with ASC 350, Intangibles, which specifies the appropriate accounting for costs incurred in connection with the development and maintenance of websites.
	Impairment of long-lived assets
	The Company reviews the carrying value of its capitalized website costs annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate.  The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value.  If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized.  An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset.  Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value.  Significant assumptions included the obtaining of the equity financing, anticipated expenses as projected, receipt of quality film scripts and film financing and production as described in the Form S-1 as amended.  No impairment charge was considered necessary in the initial period.

4_Recent_Accounting_Pronouncem

4. Recent Accounting Pronouncements	12 Months Ended
	Mar. 31, 2014
Notes	'
4. Recent Accounting Pronouncements	'
	4. RECENT ACCOUNTING PRONOUNCEMENTS
	The company has limited operations and is considered to be in the development stage. In the year ended March 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the company to remove the inception to date information and all references to development stage
	We do not expect the adoption of recently issued accounting pronouncements to have a significant impact on our results of operations, financial position or cash flow.

5_Due_To_Related_Parties

5. Due To Related Parties	12 Months Ended
	Mar. 31, 2014
Notes	'
5. Due To Related Parties	'
	5. DUE TO RELATED PARTIES
	Due to director
	During the period ended March 31, 2014, the director of the company paid for expenses to the amount of $10,273.
	As at March 31, 2014 the balance due to director was $33,864.  The amount due to the director is unsecured, non-interest bearing and due on demand.
	Due to Black Rock Petroleum Company
	During the period ended March 31, 2014, the company purchased 120,850,000 common shares from Black Rock Petroleum Company for the amount of $1,209 for 100% control.

3_Summary_of_Significant_Accou1

3. Summary of Significant Accounting Policies: Basis of Presentation and Principles of Consolidation (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Basis of Presentation and Principles of Consolidation	'
	Basis of Presentation and Principles of Consolidation
	The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in United States dollars. The consolidated financial statements include the accounts of the Company; its wholly-owned subsidiary Black Rock Petroleum Company formed in April 2013. All intercompany accounts and transactions are eliminated in consolidation.

3_Summary_of_Significant_Accou2

3. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	As at December 31, 2014 cash and cash equivalents consist of only cash.

3_Summary_of_Significant_Accou3

3. Summary of Significant Accounting Policies: Accounting Estimates (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Accounting Estimates	'
	Accounting 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  revenues  and  expenses during the reporting period.  Actual results could differ from those estimates and assumptions.

3_Summary_of_Significant_Accou4

3. Summary of Significant Accounting Policies: Loss Per Share (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Loss Per Share	'
	Loss per Share
	Loss  per  share  is  computed  using  the  weighted  average  number  of shares outstanding during  the  period.  We have adopted ASC 260, "Earnings Per Share".  Diluted loss per share for year ended March 31, 2014 is equivalent to basic loss per share as there was no potential dilutive equity instrument.

3_Summary_of_Significant_Accou5

3. Summary of Significant Accounting Policies: Foreign Currency Transactions (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Foreign Currency Transactions	'
	Foreign Currency Transactions
	The Company's functional currency is Canadian dollars and its reporting currency is the United States dollar.
	The Company’s financial statements are translated from its functional currency, Canadian dollars, to the reporting currency, United States dollars, using the current rate method. Assets and liabilities are translated using the current rate in effect at the balance sheet date and revenues and expenses are translated at the average rate for the period. Adjustments resulting from the translation, if any, are included in cumulative other comprehensive income (loss) in stockholders’ equity. At March 31, 2014, the Company did not have any other comprehensive income (loss).

3_Summary_of_Significant_Accou6

3. Summary of Significant Accounting Policies: Stock-based Compensation (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Stock-based Compensation	'
	Stock-Based Compensation
	The Company adopted ASC 718, Compensation – Stock-Based Compensation, to account for its stock options and similar equity instruments issued.  Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period.  ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid.  We did not grant any stock options during the period from March 24, 2011 (inception) to March 31, 2014.

3_Summary_of_Significant_Accou7

3. Summary of Significant Accounting Policies: Comprehensive Income (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Comprehensive Income	'
	Comprehensive Income
	We adopted ASC 220, Comprehensive Income, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances.  We are disclosing this information on our Statement of Stockholders' Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners.  We have no elements of "other comprehensive income” as of March 31, 2014 and 2013.

3_Summary_of_Significant_Accou8

3. Summary of Significant Accounting Policies: Website Development Costs (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Website Development Costs	'
	Website Development Costs
	Website development costs are for the development of the Company's Internet website.  These costs have been capitalized when acquired and installed, and will be amortized over its estimated useful life of three periods on a straight line basis.  The Company accounts for these costs in accordance with ASC 350, Intangibles, which specifies the appropriate accounting for costs incurred in connection with the development and maintenance of websites.

3_Summary_of_Significant_Accou9

3. Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Policies)	12 Months Ended
	Mar. 31, 2014
Policies	'
Impairment of Long-lived Assets	'
	Impairment of long-lived assets
	The Company reviews the carrying value of its capitalized website costs annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate.  The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value.  If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized.  An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset.  Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value.  Significant assumptions included the obtaining of the equity financing, anticipated expenses as projected, receipt of quality film scripts and film financing and production as described in the Form S-1 as amended.  No impairment charge was considered necessary in the initial period.

2_Going_Concern_Details

2. Going Concern (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013
Details	'	'
Retained Deficit	$155,220	$113,577

5_Due_To_Related_Parties_Detai

5. Due To Related Parties (Details) (USD $)	12 Months Ended
	Mar. 31, 2014
Details	'
Repayments of Related Party Debt	$10,273
Due to Related Parties	33,864
Common Stock Shares Purchased	120,850,000
Investments in subsidiaries	$1,209
Equity Method Investment, Ownership Percentage	100.00%