Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Dec. 31, 2013 | Jan. 28, 2014 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'American Laser Healthcare Corp | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Dec-13 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001534099 | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 9,349,500 |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Current Reporting Status | 'No | ' |
Entity Voluntary Filers | 'Yes | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Balance_Sheets_December_31_201
Balance Sheets (December 31, 2013 Unaudited) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | ||
Current Assets | ' | ' | ||
Cash and equivalents | $65,379 | $30,915 | ||
Accounts receivable | 77,160 | 35,000 | ||
Inventories | 15,057 | 13,667 | ||
Prepaid expense | 11,024 | 10,186 | ||
Total current assets | 212,612 | 139,645 | ||
Furniture & office equipment, net | 24,143 | 26,875 | ||
Intangible assets | 13,750 | 14,000 | ||
Deposits | 6,099 | 9,002 | ||
Total long-term assets | 43,992 | 49,877 | ||
Total current assets | 212,612 | 139,645 | ||
Current liabilities | ' | ' | ||
Accounts payable | 116,854 | 34,180 | ||
Accrued bonus | 95,000 | 95,000 | ||
Accrued liabilities | ' | 16,041 | ||
Promissory note payable | 200,000 | 200,000 | ||
Interest payable | 10,750 | 9,250 | ||
Total current liabilities | 422,604 | 354,471 | ||
Stockholders' equity (deficit) | ' | ' | ||
Preferred stock | 0 | [1] | 0 | [1] |
Common Stock | 1,860 | [2] | 1,860 | [2] |
Additional paid-in capital | 640,326 | 640,326 | ||
Accumulated equity (deficit) | -852,178 | -857,012 | ||
Total stockholders' equity (deficit) | -209,992 | -214,826 | ||
Total liabilities and stockholders' (deficit) equity | $212,612 | $139,645 | ||
[1] | Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and none outstanding at December 31, 2013 and September 30, 2013. | |||
[2] | See Note 9. |
Statement_of_Financial_Positio
Statement of Financial Position - Parenthetical (December 31, 2013 Unaudited) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | ||
Balance Sheets | ' | ' | ||
Preferred Stock, Par Value | $0.00 | $0.00 | ||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | ||
Preferred Stock, Shares Issued | 0 | 0 | ||
Preferred Stock, Shares Outstanding | 0 | 0 | ||
Common Stock, Par Value | $0.00 | $0.00 | ||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | ||
Common Stock, Shares Issued | 9,299,500 | [1] | 9,299,500 | [1] |
Common Stock, Shares Outstanding | 9,299,500 | [1] | 9,299,500 | [1] |
[1] | See Note 9. |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Statements of Operations | ' | ' |
Sales | $232,435 | ' |
Cost of sales | 133,399 | ' |
Gross Profit | 99,036 | ' |
Operating expenses | ' | ' |
General and administrative | 83,711 | 88,368 |
Research and development | 8,900 | 22,718 |
Total operating expenses | 92,611 | 111,086 |
Loss from operations | 6,425 | -111,086 |
Other income (expense) | ' | ' |
Other income | -1,591 | -1,357 |
Interest expense | -1,591 | 13,643 |
Total other income (expense) | 4,834 | -97,443 |
Net Income (Loss) | $4,834 | ($97,443) |
Earnings (Loss) per common share - basic and diluted | $0 | ($0.01) |
Weighted average number of common shares outstanding, Basic | 9,299,500 | 9,037,179 |
Weighted average number of common shares outstanding, Diluted | 9,299,500 | 9,037,179 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | 27 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net Income (Loss) | $4,834 | ($97,443) | ($852,178) |
Adjustments to reconcile Net (Loss) to net cash provided (used) by operating activities | ' | ' | ' |
Depreciation and amortization | 2,982 | 426 | ' |
Security deposit in lieu of rent expenses | 2,903 | ' | ' |
Change in operating assets and liabilities | ' | ' | ' |
Change in Accounts receivable | -42,160 | ' | ' |
Change in Inventory | -1,390 | -31,880 | ' |
Change in Prepaid expenses | -838 | -8,985 | ' |
Change in Interest payable | 1,500 | 1,574 | ' |
Change in Accounts payable | 82,674 | 14,500 | ' |
Change in Accrued liabilities | -16,041 | 23,252 | ' |
Net cash used in operating activities | 34,464 | -98,556 | ' |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Purchase of fixed assets | ' | -3,464 | ' |
Net cash (used) in investing activities | ' | -3,464 | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from issuance of promissory notes | ' | 11,000 | -26,000 |
Proceeds from issuance of common stock and stockholders' additional paid in capital | ' | 87,500 | ' |
Proceeds from common stock issuable | ' | -67,500 | ' |
Net cash provided by financing activities | ' | 31,000 | ' |
Net increase (decrease) in cash | 34,464 | -71,020 | ' |
Cash at beginning of period | 30,915 | 71,824 | ' |
Cash at end of period | 65,379 | 804 | 65,379 |
Non-cash transactions: | ' | ' | ' |
Security deposit applied to facility rent | $2,903 | ' | ' |
Note_1_Basis_of_Presentation
Note 1: Basis of Presentation | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 1: Basis of Presentation | ' |
Note 1: Basis of Presentation | |
The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended December 31, 2013 are not necessarily indicative of the results that may be expected for the full fiscal year. For further information, refer to the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2013. | |
Nature of Operations | |
American Laser Healthcare Corporation (“ALHC” or “the Company”) was incorporated on September 21, 2011 under the laws of the State of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company is an SEC reporting company that intends to improve health and wellness by providing access to innovative diagnostics and treatment for patients with pain and other common medical conditions. The Company plans to do this by creating and managing a profitable medical device product development business coupled with a healthcare service business that provides a protocol and pathway for the adoption and implementation of Low Level Light Therapy (LLLT). | |
The Company possesses an FDA cleared device with patented methodology, the MB Bioenergy Light Therapy System, and insurance reimbursement codes to allow payment for treatment. | |
On August 1, 2012, the Company offered a Private Placement Offering Memorandum (PPM) of 1,000,000 shares of common stock at $1.00 per share for an aggregate of $1,000,000, and through December 31, 2013, has received $339,500 in stock subscriptions. | |
Basis of Presentation | |
The summary of significant accounting policies presented below is designed to assist in understanding the Company's financial statements. Such financial statements and accompanying notes are the representations of the Company's management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP") in all material respects, and have been consistently applied in preparing the accompanying financial statements. | |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP 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 periods. Actual results could differ from those estimates. | |
Concentration of Risk | |
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. From time to time, the Company maintains cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. | |
Income Taxes | |
Under ASC 740, "Income Taxes", deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. 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. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. | |
Inventories | |
Inventories are stated at cost. Cost is determined using the first-in, first-out method (FIFO). All inventories are finished units and accessories for the units. | |
Furniture and Office Equipment | |
Furniture, office equipment, machinery and equipment are stated at cost. Depreciation is calculated on the straight-line method over the estimated useful lives of 3 years of the assets. | |
Loss per Common Share | |
The Company has adopted ASC 260 “Earnings Per Share”. Basic loss per common shares excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of December 31, 2013 and September 30, 2013, there are no outstanding dilutive securities. | |
Revenue Recognition | |
Revenue is recognized when the following criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered, and the customer takes ownership and assumes risk of loss; (3) the seller’s price to the buyer is fixed or determinable; and (4) collection is reasonably assured. The Company has generated $232,435 and $0 in revenues for the three months ended December 31, 2013 and 2012, respectively. | |
Allowance for Doubtful Accounts. | |
The Company does not require collateral from its customers with respect to accounts receivable. The Company determines any required allowance by considering a number of factors, including the terms for each customer, and the length of time accounts receivable are outstanding. Management provides an allowance for accounts receivable whenever it is evident that they become uncollectible. The Company has determined that no allowance for doubtful accounts was required at December 31, 2013 and September 30, 2013. | |
Share-Based Compensation | |
The Company follows the provisions of ASC 718, Share-Based Payment, which requires all share-based payments to employees and non-employees to be recognized in the income statement based on their fair values. The Company uses the Black-Scholes pricing model for determining the fair value of share-based compensation. |
Note_2_Going_Concern
Note 2: Going Concern | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 2: Going Concern | ' |
Note 2: Going Concern | |
The Company has sustained a cumulative net loss and accumulated deficit of $852,178, since inception of the Company on September 21, 2011. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations, which it has not been able to accomplish to date, and /or obtain additional financing from its stockholders and/or other third parties. | |
Management plans to raise additional funds for operations through a private placement that is ongoing and through December 31, 2013, the Company has raised $339,500, including $26,000 proceeds from conversion from two notes payable. The private placement is for up to $1,000,000. In addition, the Company has generated $232,435 in revenues through the sales of LLLT machines during the three months ended December 31, 2013. | |
These financial statements have been prepared on a going concern basis, which assumes the Company will continue its operations. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, successfully locating and negotiate with a business entity for the combination of that target company with the Company. | |
There is no assurance that the Company will ever be profitable. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. |
Note_3_Recent_Accounting_Prono
Note 3: Recent Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 3: Recent Accounting Pronouncements | ' |
Note 3: Recent Accounting Pronouncements | |
We do not expect the adoption of recently issued accounting pronouncement to have a significant impact on our results of operations, financial position or cash flow. |
Note_4_Inventories
Note 4: Inventories | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 4: Inventories | ' |
Note 4: Inventories | |
As of December 31, 2013, the Company has finished goods in inventories of $14,597 for medical devices and of $460 in accessories for the medical devices. |
Note_5_Prepaid_Expenses
Note 5: Prepaid Expenses | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 5: Prepaid Expenses | ' |
Note 5: Prepaid Expenses | |
Prepaid expenses of $10,000 are for legal fees, $186 for insurance and $838 for workers compensation insurance. |
Note_6_Intangible_Assets
Note 6: Intangible Assets | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 6: Intangible Assets | ' |
Note 6: Intangible Assets | |
The Company owns a patent with a book value at the acquisition date of $15,000. The patent was acquired in the period ending September 30, 2012 and is being amortized over 16 years at a monthly amortization expense of $78. Accumulated amortization at December 31, 2013 was $1,250. |
Note_7_Research_and_Developmen
Note 7: Research and Development Expenses | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 7: Research and Development Expenses | ' |
Note 7: Research and Development Expenses | |
The Company incurred research and development expenses of $8,900 and $22,718 for the three months ended December 31, 2013 and 2012, respectively. These expenses consisted of engineering and software development costs in updating the MB Bioenergy Light Therapy System to a touch screen display model. |
Note_8_Stock_Issued
Note 8: Stock Issued | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 8: Stock Issued | ' |
Note 8: Stock Issuance | |
There were no stock issuances during the three months ended December 31, 2013. |
Note_9_Warrants_Issuance
Note 9: Warrants Issuance | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 9: Warrants Issuance | ' |
Note 9: Warrants Issuance | |
There were no warrant issuances during the three months ended December 31, 2013. |
Note_10_Related_Party_Transact
Note 10: Related Party Transactions | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 10: Related Party Transactions | ' |
Note 10: Related Party Transactions | |
There were no related party transactions during the three months ended December 31, 2013. |
Note_11_Notes_Payable
Note 11: Notes Payable | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 11: Notes Payable | ' |
Note 11: Notes Payable | |
The Company has a short-term unsecured note of $100,000 with a 6% annual interest rate, dated March 16, 2012, which was renewed through March 16, 2014. Principal and accrued interest is due on March 16, 2014. This note is convertible to 100,000 common shares at the conversion price of $1.00 per share after April 11, 2013. Interest expense for the three months ended December 31, 2013 and 2012 totaled 1,591 and $1,357, respectively. | |
On January 2, 2013, the Company entered into a Valued Added Reseller (VAR) agreement with Amest Corporation located in Rancho Santa Margarita, California. Amest Corporation is engaged in the manufacturing and servicing of medical equipment under a US FDA 510K clearance, with registration number K030275. As agreed, Amest Corporation would transfer the manufacturing and servicing rights under the FDA clearance to the Company. The Company is currently in the process of that transfer. In exchange, the Company will pay cash or issue a $100,000 promissory note to Amest Corporation. The VAR agreement shall expire in one year and is automatically renewed for an additional one year, and can be cancelled by either party with a 30 days notification. The Company will also purchase products from Amest Corporation and will re-label, re-sell or distribute such products with the Company's name. Amest is currently the sole supplier to the Company, and the Company effectively has the exclusive right to purchase these products from Amest as the Company has the US patent related to these products. A promissory note in an amount of $100,000 was issued to Amest Corporation prior to the completion of the transfer. | |
Based on the terms of the VAR agreement, the note payable to Amest Corporation was due in full as of December 31, 2013. As of the date of this filing, the note has not been paid and the Company is in negotiations with Amest Corporation to extend the term of the note and implement a monthly payment plan to pay down the balance. |
Note_12_Commitments_and_Contin
Note 12: Commitments and Contingencies | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 12: Commitments and Contingencies | ' |
Note 12: Commitments and Contingencies | |
Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. As of December 31, 2013, the Company has no contingent liability that is required to be recorded. | |
Legal | |
The Company is named in a lawsuit entitled Cadovimex-USA GJ Trade Corporation v. ALH, et. al., pending in Orange County Superior Court, case number 30-2013-00676455-CU-FR.CJC. In the lawsuit it is alleged that the Company conspired with others to defraud a creditor of a California corporation called Mac Beam, Inc. It is alleged that the Company received all property of Mac Beam, Inc. without paying compensation for it, and that the purpose of the transfer was to render Mac Beam, Inc. unable to pay a judgment held against it by Cadovimex-USA GJ Trade Corp. Thus, as relevant to the Company, Cardovimex-USA GJ Trade Corp seeks to hold the Company liable for the amount of the aforementioned judgment, general, special and punitive damages, costs and attorney’s fees. | |
However, the underlying judgment was fully reversed by Division Three of the Fourth District Court of Appeal of California on December 13, 2013 in a non-published decision, case number G047387. Accordingly, it is anticipated that the current claims will eventually be dismissed because once the Appellate Court decision becomes final for all purposes and the remittitur issues, there will no longer be a judgment to enforce. Barring matters such as Cadovimex-USA GJ Trade Corp seeking review by the California Supreme Court, it is anticipated that the decision will become final in February of 2014. |
Note_13_Lease_Agreement
Note 13: Lease Agreement | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 13: Lease Agreement | ' |
Note 13: Lease Agreement | |
The Company entered a lease agreement with Irvine Company to lease an office unit located in Irvine, California, effective November 5, 2012. The lease term was one year with monthly lease payment of $2,904. The Company incurred rent expense of $9,074 and $8,221 for the three months ended December 31, 2013 and 2012, respectively. The lease was renewed for an additional one year through October 31, 2014 at a monthly rate of $2,989. The lease is subject to renew upon expiration. In accordance with the lease terms, the Company made a security deposit that totaled $9,002. A portion of the security deposit in the amount of $2,903 was applied to facility rent for the month of October 2013. |
Note_14_Subsequent_Events
Note 14: Subsequent Events | 3 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 14: Subsequent Events | ' |
Note 14: Subsequent Events | |
On January 10, 2014, the Company received $50,000 through a Private Placement Offering. The common shares were issued at a price of $1.00 per share for a total of 50,000 common shares. |
Note_1_Basis_of_Presentation_N
Note 1: Basis of Presentation: Nature of Operations (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Nature of Operations | ' |
Nature of Operations | |
American Laser Healthcare Corporation (“ALHC” or “the Company”) was incorporated on September 21, 2011 under the laws of the State of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company is an SEC reporting company that intends to improve health and wellness by providing access to innovative diagnostics and treatment for patients with pain and other common medical conditions. The Company plans to do this by creating and managing a profitable medical device product development business coupled with a healthcare service business that provides a protocol and pathway for the adoption and implementation of Low Level Light Therapy (LLLT). | |
The Company possesses an FDA cleared device with patented methodology, the MB Bioenergy Light Therapy System, and insurance reimbursement codes to allow payment for treatment. | |
On August 1, 2012, the Company offered a Private Placement Offering Memorandum (PPM) of 1,000,000 shares of common stock at $1.00 per share for an aggregate of $1,000,000, and through December 31, 2013, has received $339,500 in stock subscriptions. |
Note_1_Basis_of_Presentation_B
Note 1: Basis of Presentation: Basis of Presentation (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The summary of significant accounting policies presented below is designed to assist in understanding the Company's financial statements. Such financial statements and accompanying notes are the representations of the Company's management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP") in all material respects, and have been consistently applied in preparing the accompanying financial statements. |
Note_1_Basis_of_Presentation_U
Note 1: Basis of Presentation: Use of Estimates (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP 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 periods. Actual results could differ from those estimates. |
Note_1_Basis_of_Presentation_C
Note 1: Basis of Presentation: Concentration of Risk (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Concentration of Risk | ' |
Concentration of Risk | |
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. From time to time, the Company maintains cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. |
Note_1_Basis_of_Presentation_I
Note 1: Basis of Presentation: Income Taxes (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Income Taxes | ' |
Income Taxes | |
Under ASC 740, "Income Taxes", deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. 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. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. |
Note_1_Basis_of_Presentation_I1
Note 1: Basis of Presentation: Inventories (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Inventories | ' |
Inventories | |
Inventories are stated at cost. Cost is determined using the first-in, first-out method (FIFO). All inventories are finished units and accessories for the units. |
Note_1_Basis_of_Presentation_F
Note 1: Basis of Presentation: Furniture and Office Equipment (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Furniture and Office Equipment | ' |
Furniture and Office Equipment | |
Furniture, office equipment, machinery and equipment are stated at cost. Depreciation is calculated on the straight-line method over the estimated useful lives of 3 years of the assets. |
Note_1_Basis_of_Presentation_L
Note 1: Basis of Presentation: Loss Per Common Share (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Loss Per Common Share | ' |
Loss per Common Share | |
The Company has adopted ASC 260 “Earnings Per Share”. Basic loss per common shares excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of December 31, 2013 and September 30, 2013, there are no outstanding dilutive securities. |
Note_1_Basis_of_Presentation_R
Note 1: Basis of Presentation: Revenue Recognition (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue is recognized when the following criteria have been met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered, and the customer takes ownership and assumes risk of loss; (3) the seller’s price to the buyer is fixed or determinable; and (4) collection is reasonably assured. The Company has generated $232,435 and $0 in revenues for the three months ended December 31, 2013 and 2012, respectively. |
Note_1_Basis_of_Presentation_A
Note 1: Basis of Presentation: Allowance For Doubtful Accounts. (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Allowance For Doubtful Accounts. | ' |
Allowance for Doubtful Accounts. | |
The Company does not require collateral from its customers with respect to accounts receivable. The Company determines any required allowance by considering a number of factors, including the terms for each customer, and the length of time accounts receivable are outstanding. Management provides an allowance for accounts receivable whenever it is evident that they become uncollectible. The Company has determined that no allowance for doubtful accounts was required at December 31, 2013 and September 30, 2013. |
Note_1_Basis_of_Presentation_S
Note 1: Basis of Presentation: Share-based Compensation (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Share-based Compensation | ' |
Share-Based Compensation | |
The Company follows the provisions of ASC 718, Share-Based Payment, which requires all share-based payments to employees and non-employees to be recognized in the income statement based on their fair values. The Company uses the Black-Scholes pricing model for determining the fair value of share-based compensation. |
Note_1_Basis_of_Presentation_N1
Note 1: Basis of Presentation: Nature of Operations (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Aug. 01, 2012 |
Private Placement Offering Memorandum (PPM) | Private Placement Offering Memorandum (PPM) | |||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | ' | 1,000,000 |
Share Price | ' | ' | ' | $1 |
Aggregate value of shares authorized | ' | ' | ' | $1,000,000 |
Common Stock, Value, Subscriptions | ' | ' | $339,500 | ' |
Note_1_Basis_of_Presentation_R1
Note 1: Basis of Presentation: Revenue Recognition (Details) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Details | ' | ' |
Revenues | $232,435 | $0 |
Note_1_Basis_of_Presentation_A1
Note 1: Basis of Presentation: Allowance For Doubtful Accounts. (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
Details | ' | ' |
Allowance for Doubtful Accounts Receivable | $0 | $0 |
Note_2_Going_Concern_Details
Note 2: Going Concern (Details) (USD $) | 3 Months Ended | 27 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | |
Details | ' | ' | ' | ' |
Net Income (Loss) | $4,834 | ($97,443) | ($852,178) | ' |
Accumulated equity (deficit) | -852,178 | ' | -852,178 | -857,012 |
Funds raised through ongoing private placement | ' | ' | -339,500 | ' |
Proceeds from issuance of promissory notes | ' | 11,000 | -26,000 | ' |
Sales | $232,435 | ' | ' | ' |
Note_4_Inventories_Details
Note 4: Inventories (Details) (USD $) | Dec. 31, 2013 |
Details | ' |
Inventories, medical devices | $14,597 |
Inventories, medical device accessories | $460 |
Note_5_Prepaid_Expenses_Detail
Note 5: Prepaid Expenses (Details) (USD $) | Dec. 31, 2013 |
Details | ' |
Prepaid legal fees | $10,000 |
Prepaid Insurance | 186 |
Prepaid expenses for Workders Compensation Insurance | $838 |
Note_6_Intangible_Assets_Detai
Note 6: Intangible Assets (Details) (USD $) | 3 Months Ended |
Dec. 31, 2013 | |
Details | ' |
Finite-Lived Intangible Assets, Amortization Expense | $1,250 |
Note_7_Research_and_Developmen1
Note 7: Research and Development Expenses (Details) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Details | ' | ' |
Research and development | $8,900 | $22,718 |
Note_11_Notes_Payable_Details
Note 11: Notes Payable (Details) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Interest expense | $1,591 | ($13,643) |
Short-term Note 1 | ' | ' |
Short-term Debt | 100,000 | ' |
Short-term Debt, Weighted Average Interest Rate | 6.00% | ' |
Short-term Debt, Date | 16-Mar-12 | ' |
Short-term Debt, Terms | 'Principal and accrued interest is due on March 16, 2014. This note is convertible to 100,000 common shares at the conversion price of $1.00 per share after April 11, 2013. | ' |
Interest expense | $1,591 | $1,357 |
Note_13_Lease_Agreement_Detail
Note 13: Lease Agreement (Details) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Leases, Rent Expense | $9,074 | $8,221 |
Legal and consulting services | ' | ' |
Lease Agreement, Description | 'The Company entered a lease agreement with Irvine Company to lease an office unit located in Irvine, California, effective November 5, 2012. The lease term was one year with monthly lease payment of $2,904. | ' |
Note_14_Subsequent_Events_Deta
Note 14: Subsequent Events (Details) (January 10, 2014, USD $) | 3 Months Ended | |
Dec. 31, 2013 | Jan. 10, 2014 | |
10-Jan-14 | ' | ' |
Proceeds from Issuance of Private Placement | $50,000 | ' |
Share Price | ' | $1 |
Shares, Issued | ' | 50,000 |