| 3. Significant Accounting Policies | 3. SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents As at March 31, 2016 and 2015 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 effect 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. Property and equipment Property and equipment are stated at cost less accumulated depreciation and amortization. When property and equipment is retired or otherwise disposed of, the net carrying amount is eliminated with any gain or loss on disposition recognized in earnings at that time. Maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. As of March 31, 2016, the Company has $6,550 in software which is being depreciated over 3 years. The net book value is $5,458 as of March 31, 2016. Impairment of long-lived assets The Company reviews its long-lived assets, including property and equipment, identifiable intangibles, and goodwill annually or whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of its long-lived assets, the Company evaluates the probability that future undiscounted net cash flows will be less than the carrying amount of the assets. Related party The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions. Fair value of financial instruments The Company applies the provisions of accounting guidance, FASB Topic ASC 825 that requires all entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value, and defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. Our financial instruments consist principally of cash, accounts payable and accrued expenses and due to related party. ASC 820, Fair Value Measurements and Disclosures Financial Instruments Fair Value Hierarchy The Company has categorized its financial instruments, based on the priority of inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Financial assets and liabilities recorded on the balance sheet are categorized based on the inputs to the valuation techniques as follows: Level 1 Level 2 Level 3 When the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. The carrying amounts of cash, accounts payable and accrued expenses, and due to related party approximate fair value because of the short-term nature of these items. Income taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. 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 years ended March 31, 2016 and 2015 is the same as basic loss per share as there are no potential dilutive equity instruments. Capital Stock share structure The Companys articles of incorporation pertaining to stock has been amended as of July 16, 2015 to increase the authorized capital stock to 300,000,000 shares of common stock having par value of $ 0.00001 per share. The amendment was made and approved by the Companys Board of Directors on July 15, 2015. On this date the Board of Directors had 83.3% of common stock which have 83.3% voting in favor of this amendment. The Companys articles of incorporation pertaining to Stock has been amended as of July 21, 2015 to keep the authorized capital stock to 100,000,000 shares of preferred stock having par value of $ 0.00001 per share. The Board of Directors have 83.3% of common stock which have 83.3% voting in favor in keeping the preferred stock to 100,000,000 shares. All shares amount have been retroactively adjusted. Stock-Based Compensation The Company adopted ASC 718, Compensation Stock-Based Compensation Recent Accounting Pronouncements The Companys management has considered all recent accounting pronouncements. Management believes that these recent pronouncements will not have a material effect on the Companys financial statements. |
