Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Dec. 31, 2013 | Feb. 10, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Cellular Concrete Technologies, Inc. | ' |
Entity Central Index Key | '0001542627 | ' |
Trading Symbol | 'ccti | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 26,350,000 |
Document Type | '10-Q | ' |
Document Period End Date | 31-Dec-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONDENSED_BALANCE_SHEETS_Unaud
CONDENSED BALANCE SHEETS (Unaudited) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Current assets: | ' | ' |
Cash and cash equivalents | ' | ' |
Total Assets | ' | ' |
Current liabilities: | ' | ' |
Accrued expenses due to founder | 8,631 | 6,415 |
Bank overdraft | ' | 16 |
Total liabilities | 8,631 | 6,431 |
Commitments and contingencies | ' | ' |
Stockholders' deficit: | ' | ' |
Common stock, 100,000,000 shares authorized (par value $.0001) 26,350,000 and 5,000,000 shares issued and outstanding as of December 31, 2013 and March 31, 2013, respectively | 2,635 | 2,635 |
Additional paid-in capital | 1,500 | 1,500 |
Deficit accumulated during the development stage | -12,766 | -10,566 |
Total stockholders' deficit | -8,631 | -6,431 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | ' |
CONDENSED_BALANCE_SHEETS_Unaud1
CONDENSED BALANCE SHEETS (Unaudited) (Parentheticals) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 26,350,000 | 26,350,000 |
Common stock, shares outstanding | 5,000,000 | 5,000,000 |
CONDENSED_STATEMENTS_OF_OPERAT
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | 23 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' |
General and administrative | ' | 6,558 | 2,200 | 8,958 | 12,766 |
Total operating expenses | ' | 6,558 | 2,200 | 8,958 | 12,766 |
NET LOSS | ' | ($6,558) | ($2,200) | ($8,958) | ($12,766) |
BASIC AND DILUTED LOSS PER SHARE (in dollars per share) | $0 | $0 | $0 | $0 | ' |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (in shares) | 26,350,000 | 12,824,909 | 26,350,000 | 12,824,909 | ' |
STATEMENTS_OF_CASH_FLOWS_Unaud
STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | 23 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
CASH FLOW FROM OPERATING ACTIVITIES | ' | ' | ' |
Net loss | ($2,200) | ($8,958) | ($12,766) |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' | ' |
Issuance of common stock under consulting agreement | ' | ' | 150 |
Change in Assets & Liabilities | ' | ' | ' |
Accrued payroll and other liabilities | 2,200 | ' | 8,631 |
Change in bank overdraft | 0 | ' | ' |
Net Cash used in operations | ' | ' | -3,985 |
CASH FLOW FROM FINANCING ACTIVITIES | ' | ' | ' |
Changes of advances from shareholders | ' | 6,455 | ' |
Tender of shares by founder | ' | ' | -350 |
Proceeds from stock issuance under subscription agreement | ' | 2,335 | 4,335 |
Net Cash provided by financing activities | ' | 8,790 | 3,985 |
Net increase (decrease) in cash | ' | -168 | ' |
Cash at the Beginning of the Period | ' | 200 | ' |
Cash at the End of the Period | ' | $32 | ' |
ORGANIZATION_AND_SUMMARY_OF_SI
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Abstract] | ' | |||
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |||
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | ||||
(a) | Organization and Business: | |||
Cellular Concrete Technologies, Inc. is an emerging growth company that was incorporated in the state of Delaware on February 6, 2012 and has licensed unique intellectual property (the Technology) for the production of the STABLE AIR® and STABLE AIR AERATOR® products. | ||||
Further, the company will sell its foaming aerators, and the foaming chemicals that the aerators use to make pre-formed foam containing air that gets incorporated into concrete mixes under the “Stable Air”®, CCT Add Air® and other brand names. It will also seek distributors and jobbers who will sell or resell within their regional markets or industry niches. | ||||
On July 11, 2013, Cellular Concrete Technologies, Inc. “the Company” entered into a Licensing Agreement (“Licensing Agreement”) with Cellular Concrete Technologies, LLC (“Licensor”) the majority stockholder of the Company, pursuant to which the Company was granted an, exclusive license for intellectual property as described in Patent No. US 5,900,191, Patent No. US 6,046,255; US Patent Application No. 13/560,882; US Trademark Stable Air®; Canadian Trademark Stable Air ®; US Trademark CCT; US Trademark CCT Add Air ® that includes Stable Air® and Stable Air Aerator® developed by Licensor, principally comprising of a unique intellectual property for the production of different types of cellular concrete: Structural lightweight concrete, non-structural lightweight concrete, as well as infill, backfill and flowable fill (the “Technology”). The license includes the use and licensing of the technology to produce a variety of customized lightweight concrete products for the global housing market which may include lightweight concrete aggregate panels and a “kit system” of pre-fabricated houses or structures on a standard format or custom made basis according to customer blue prints, oil well cementing, flowable fill and the ready mix concrete industries. The License is subject to immediate discontinuation if the milestones of receiving funding of at least $200,000 by July 11, 2014, at least $400,000 by July 11, 2015 and $800,000 by July 11. 2016 is not achieved. | ||||
(b) | Basis of Presentation- development stage and going concern | |||
Going Concern | ||||
The Company has not earned any revenue from operations since inception. Accordingly, the Company’s activities have been accounted for as those of a "Development Stage Enterprise" as set forth in ASC 915, "Development Stage Entities." Among the disclosures required by ASC 915, are that the Company’s financial statements be identified as those of a development stage company, and that the statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception. | ||||
The Company sustained operating losses and accumulated deficit of $12,766 as of December 31, 2013, which raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtain additional financing, as may be required. | ||||
Basis of Presentation | ||||
The accompanying unaudited interim financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. 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. | ||||
The unaudited interim financial statements have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and notes for the year ended March 31, 2013 included in our Annual Report on Form 10-K. The results of the period from inception (February 6, 2012) to December 31, 2013 are not necessarily indicative of the results to be expected for the full year ending March 31, 2014. | ||||
(c) | Use of Estimates: | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||
(d) | Cash and Cash Equivalents | |||
For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. The Company had no cash equivalent at December 31, 2013 and March 31, 2013. | ||||
(e) | Basic and Diluted Net Income (Loss) per Common Share | |||
Basic net income (loss) per share (EPS) is calculated by dividing net income (loss) available to common stockholders (numerator) by the weighted-average number of common shares outstanding during each period (denominator). Diluted loss per share gives effect to all dilutive common shares outstanding using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Although there were common stock equivalents outstanding as of December 31, 2013 and December 31, 2012, they were not included in the calculation of earnings per shares because their inclusion would have been considered anti-dilutive. As of December 31, 2013 and December 31, 2012, there are no Common stock equivalents outstanding at December 31, 2013 and 2012. | ||||
(f) | Fair Value of Financial Instruments | |||
The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 820-10, (formerly SFAS No.157), “Fair Value Measurements and Disclosures" for financial assets and liabilities. FASB ASC 820-10 provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. FASB ASC 820-10 defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available. | ||||
- | Level 1: Quoted prices in active markets for identical assets or liabilities. | |||
- | Level 2: Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. | |||
- | Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||
(g) | Recently Issued Accounting Pronouncements | |||
In March 2013, the FASB issued ASU 2013-05 Topic 830, “Foreign Currency Matters” (“ASU 2013-05”). ASU 2013-05 resolves the diversity in practice about whether Subtopic 810-10, Consolidation—Overall, or Subtopic 830-30, ASU 2013-05 applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. In addition, the amendments in this Update resolve the diversity in practice for the treatment of business combinations achieved in stages (sometimes also referred to as step acquisitions) involving a foreign entity. ASU 2013-02 became effective for the company prospectively for fiscal years (and interim periods within those years) beginning after December 15, 2013. The Company does not expect the adoption of this guidance to have a material inning after December 15, 2013 effect on the Company’s unaudited condensed consolidated financial statements. | ||||
The FASB has issued Accounting Standards Update (ASU) No. 2013-04, Liabilities (Topic 405), “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date.” ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this ASU is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company does not expect the adoption of this guidance to have a material impact on the Company’s unaudited condensed consolidated financial statements. | ||||
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, A Similar Tax Loss, or a Tax Credit Carryforward Exists (A Consensus the FASB Emerging Issues Task Force). ASU 2013-11 provides guidance on financial statement presentation of unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB’s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date. This amendment is effective for public entities for fiscal years beginning after December 15, 2013 and interim periods within those years. The company does not expect the adoption of this standard to have a material impact on the Company’s unaudited condensed consolidated financial position and results of operations. | ||||
Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements. | ||||
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended | |
Dec. 31, 2013 | ||
Related Party Transactions [Abstract] | ' | |
RELATED PARTY TRANSACTIONS | ' | |
NOTE 2 - RELATED PARTY TRANSACTIONS | ||
On September 21, 2012, Cellular Concrete Technologies, LLC. (“Purchaser”) agreed to acquire 23,350,000 shares of the Company’s common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners, LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company’s common stock par value $0.0001 for cancellation. Following these transactions, Cellular Concrete Technologies, LLC owned approximately 94% of the Company’s 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company’s Board of Directors and Paul Falco was simultaneously appointed to the Company’s Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares. | ||
Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company. The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment. Concurrent with the sale of the shares, the Company will file a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to “Cellular Concrete Technologies, Inc.”. | ||
On September 24, 2012, the Company entered into a Consulting Services Agreement with AVP. The agreement requires AVP to provide the Company with certain advisory services that include reviewing the Company’s business plan, identifying and introducing prospective financial and business partners, and providing general business advice regarding the Company’s operations and business strategy in consideration of (a) an option granted by the Company to AVP to purchase 1,500,000 shares of the Company’s common stock at a price of $0.0001 per share (the “AVP Option”) (which was immediately exercised by the holder) subject to a repurchase option granted to the Company to repurchase the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the agreement subject to the following milestones: | ||
● | Milestone 1 – Company’s right of repurchase will lapse with respect to 60% of the shares upon securing $2.5 million in available cash from funding; | |
● | Milestone 2 – Company’s right of repurchase will lapse with respect to 40% of the Shares upon securing $5 million in available cash (inclusive of any amounts attributable to Milestone 1); | |
and (b) cash compensation at a rate of $12,500 per month. The payment of the cash compensation is subject to the Company’s achievement of certain designated milestones, specifically, cash compensation of $150,000 is due consultant upon the achievement of Milestone 1, and an additional $150,000 is due upon the achievement of Milestone 2. Upon achieving each Milestone, the cash compensation is to be paid to consultant in the amount then due at the rate of $12,500 per month. The total cash compensation to be received by the consultant is not to exceed $300,000 unless the Company receives an amount of funding in excess of the amount specified in Milestone 2. If the Company receives equity or debt financing that is an amount less than Milestone 1, in between any of the above Milestones or greater than the above Milestones, the cash compensation earned by the Consultant under this Agreement will be prorated according to the above Milestones. The Company also has the option to make a lump sum payment to AVP in lieu of the monthly cash payments. | ||
On July 11, 2013, Cellular Concrete Technologies, Inc. “the Company” entered into a Licensing Agreement (“Licensing Agreement”) with Cellular Concrete Technologies, LLC (“Licensor”) the majority stockholder of the Company, pursuant to which the Company was granted an, exclusive license for intellectual property as described in Patent No. US 5,900,191, Patent No. US 6,046,255; US Patent Application No. 13/560,882; US Trademark Stable Air®; Canadian Trademark Stable Air ®; US Trademark CCT; US Trademark CCT Add Air ® that includes Stable Air® and Stable Air Aerator® developed by Licensor, principally comprising of a unique intellectual property for the production of different types of cellular concrete: Structural lightweight concrete, non-structural lightweight concrete, as well as infill, backfill and flowable fill (the “Technology”). The license includes the use and licensing of the technology to produce a variety of customized lightweight concrete products for the global housing market which may include lightweight concrete aggregate panels and a “kit system” of pre-fabricated houses or structures on a standard format or custom made basis according to customer blue prints, oil well cementing, flowable fill and the ready mix concrete industries. The License is subject to immediate discontinuation if the milestones of receiving funding of at least $200,000 by July 11, 2014, at least $400,000 by July 11, 2015 and $800,000 by July 11. 2016 is not achieved. | ||
The officers and directors of the Company are involved in other business activities and may, in the future, become involved in additional business opportunities that become available. A conflict may arise in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts. | ||
We depend on our officers and directors, to provide the Company with the necessary funds to implement our business plan, as necessary. The Company does not have a funding commitment or any written agreement for our future required cash needs. | ||
The majority shareholder has advanced funds, as necessary. These advances are considered temporary in nature and are payable on demand. There is no formal document describing the terms of this arrangement (maturity date and interest rates). As of December 31, 2013, the debts, in the amount of $8,631, were due to shareholder. | ||
The Company does not own or lease property or lease office space. The office space used by the Company was arranged by the officers and directors of the Company to use at no charge. | ||
The above amount is not necessarily indicative of the amount that would have been incurred had a comparable transaction been entered into with independent parties. | ||
STOCKHOLDERS_DEFICIT
STOCKHOLDER'S DEFICIT | 9 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
STOCKHOLDER'S DEFICIT | ' |
NOTE 3–STOCKHOLDER’S DEFICIT | |
The Company is currently issuing only one class of common stock, and this has been issued at two different prices since inception. The Company is authorized to issue 100,000,000 shares of common stock. As of December 31, 2013, 26,350,000 shares of common stock were issued and outstanding. | |
On February 6, 2012 (inception date), the company issued 5,000,000 shares for cash of $2,000 to the founder of the Company. | |
On September 21, 2012, Cellular Concrete Technologies, LLC. (“Purchaser”) agreed to acquire 23,350,000 shares of the Company’s common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners, LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company’s common stock par value $0.0001 for cancellation. Following these transactions, Cellular Concrete Technologies, LLC owned approximately 94% of the Company’s 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company’s Board of Directors and Paul Falco was simultaneously appointed to the Company’s Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares. |
INCOME_TAXES
INCOME TAXES | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
INCOME TAXES | ' | ||||||||
NOTE 4 – INCOME TAXES | |||||||||
The Company has incurred net operating losses since inception. The Company has not reflected any benefit of such net operating loss carry forward in the financial statements. | |||||||||
In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. | |||||||||
Based on the level of historical taxable losses and projections of future taxable income (losses) over the periods in which the deferred tax assets can be realized, management currently believes that it is more likely than not that the Company will not realize the benefits of these deductible differences. Accordingly, the Company has provided a valuation allowance against the gross deferred tax assets as follows: | |||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
(Unaudited) | |||||||||
Gross deferred tax assets | $ | 12,766 | $ | 10,566 | |||||
Valuation allowance | -12,766 | -10,566 | |||||||
Net deferred tax asset | $ | — | $ | ||||||
— | |||||||||
As of December 31, 2013 the Company had a net operating loss carryforward of approximately $12,766 which will begin to expire in the tax year 2028. | |||||||||
Federal tax laws impose significant restrictions on the utilization of net operating loss carry forwards and research and development credits in the event of a change in ownership of the Company, as defined by the Internal Revenue Code Section 382. The Company’s net operating loss carry forwards and research and development credits may be subject to the above limitations. | |||||||||
In accordance with GAAP, the Company is required to determine whether a tax position of the Company is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The Company files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. state and local jurisdictions. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized could result in the Company recording a tax liability that would reduce net assets. This policy also provides guidance on thresholds, measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition that is intended to provide better financial statement comparability among different entities. It must be applied to all existing tax positions upon initial adoption and the cumulative effect, if any, is to be reported as an adjustment to stockholder’s equity. | |||||||||
Based on its analysis, the Company has determined that the adoption of this policy did not have a material impact on the Company’s financial statements upon adoption. However, management’s conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof. | |||||||||
The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. | |||||||||
The 2012 and 2013 federal and state tax returns are open to examination for the years. |
ORGANIZATION_AND_SUMMARY_OF_SI1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Abstract] | ' | |||
Basis of Presentation- development stage and going concern | ' | |||
Basis of Presentation- development stage and going concern | ||||
Going Concern | ||||
The Company has not earned any revenue from operations since inception. Accordingly, the Company’s activities have been accounted for as those of a "Development Stage Enterprise" as set forth in ASC 915, "Development Stage Entities." Among the disclosures required by ASC 915, are that the Company’s financial statements be identified as those of a development stage company, and that the statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception. | ||||
The Company sustained operating losses and accumulated deficit of $12,766 as of December 31, 2013, which raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtain additional financing, as may be required. | ||||
Basis of Presentation | ||||
The accompanying unaudited interim financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. 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. | ||||
The unaudited interim financial statements have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and notes for the year ended March 31, 2013 included in our Annual Report on Form 10-K. The results of the period from inception (February 6, 2012) to December 31, 2013 are not necessarily indicative of the results to be expected for the full year ending March 31, 2014. | ||||
Use of Estimates | ' | |||
Use of Estimates: | ||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||
Cash and Cash Equivalents | ' | |||
Cash and Cash Equivalents | ||||
For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. The Company had no cash equivalent at December 31, 2013 and March 31, 2013. | ||||
Basic and Diluted Net Income (Loss) per Common Share | ' | |||
Basic and Diluted Net Income (Loss) per Common Share | ||||
Basic net income (loss) per share (EPS) is calculated by dividing net income (loss) available to common stockholders (numerator) by the weighted-average number of common shares outstanding during each period (denominator). Diluted loss per share gives effect to all dilutive common shares outstanding using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Although there were common stock equivalents outstanding as of December 31, 2013 and December 31, 2012, they were not included in the calculation of earnings per shares because their inclusion would have been considered anti-dilutive. As of December 31, 2013 and December 31, 2012, there are no Common stock equivalents outstanding at December 31, 2013 and 2012. | ||||
Fair Value of Financial Instruments | ' | |||
Fair Value of Financial Instruments | ||||
The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 820-10, (formerly SFAS No.157), “Fair Value Measurements and Disclosures" for financial assets and liabilities. FASB ASC 820-10 provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. FASB ASC 820-10 defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available. | ||||
- | Level 1: Quoted prices in active markets for identical assets or liabilities. | |||
- | Level 2: Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. | |||
- | Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||
Recently Issued Accounting Pronouncements | ' | |||
Recently Issued Accounting Pronouncements | ||||
In March 2013, the FASB issued ASU 2013-05 Topic 830, “Foreign Currency Matters” (“ASU 2013-05”). ASU 2013-05 resolves the diversity in practice about whether Subtopic 810-10, Consolidation—Overall, or Subtopic 830-30, ASU 2013-05 applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. In addition, the amendments in this Update resolve the diversity in practice for the treatment of business combinations achieved in stages (sometimes also referred to as step acquisitions) involving a foreign entity. ASU 2013-02 became effective for the company prospectively for fiscal years (and interim periods within those years) beginning after December 15, 2013. The Company does not expect the adoption of this guidance to have a material inning after December 15, 2013 effect on the Company’s unaudited condensed consolidated financial statements. | ||||
The FASB has issued Accounting Standards Update (ASU) No. 2013-04, Liabilities (Topic 405), “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date.” ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this ASU is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company does not expect the adoption of this guidance to have a material impact on the Company’s unaudited condensed consolidated financial statements. | ||||
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, A Similar Tax Loss, or a Tax Credit Carryforward Exists (A Consensus the FASB Emerging Issues Task Force). ASU 2013-11 provides guidance on financial statement presentation of unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB’s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date. This amendment is effective for public entities for fiscal years beginning after December 15, 2013 and interim periods within those years. The company does not expect the adoption of this standard to have a material impact on the Company’s unaudited condensed consolidated financial position and results of operations. | ||||
Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements. | ||||
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 9 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of valuation allowance against gross deferred tax assets | ' | ||||||||
December 31, | March 31, | ||||||||
2013 | 2013 | ||||||||
(Unaudited) | |||||||||
Gross deferred tax assets | $ | 12,766 | $ | 10,566 | |||||
Valuation allowance | -12,766 | -10,566 | |||||||
Net deferred tax asset | $ | — | $ | — |
ORGANIZATION_AND_SUMMARY_OF_SI2
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) (USD $) | 3 Months Ended | 9 Months Ended | 23 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Jul. 11, 2013 | |
Licensing Agreements | |||||||
Organization And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Minimum milestones funding receipt at July 11, 2014 | ' | ' | ' | ' | ' | ' | $200,000 |
Minimum milestones funding receipt at July 11, 2015 | ' | ' | ' | ' | ' | ' | 400,000 |
Minimum milestones funding receipt at July 11, 2016 | ' | ' | ' | ' | ' | ' | 800,000 |
Operating losses | ' | -6,558 | -2,200 | -8,958 | -12,766 | ' | ' |
Deficit accumulated during the development stage | ($12,766) | ' | ($12,766) | ' | ($12,766) | ($10,566) | ' |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Detail Textuals) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Sep. 21, 2012 | Sep. 21, 2012 |
Cellular Concrete Technologies, LLC | Accelerated Venture Partners, LLC | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Number of shares exchanged | ' | ' | 23,350,000 | ' |
Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ' |
Common stock issued price per share (in dollars per share) | ' | ' | $0.00 | ' |
Number of shares tendered | ' | ' | ' | 3,500,000 |
Number of shares held | ' | ' | ' | 5,000,000 |
Par value of common stock cancellation (in dollars per share) | ' | ' | ' | $0.00 |
Percentage of shares ownership transaction | ' | ' | 94.00% | 6.00% |
Common stock, shares issued | 26,350,000 | 26,350,000 | 24,850,000 | ' |
Common stock, shares outstanding | 5,000,000 | 5,000,000 | 24,850,000 | ' |
RELATED_PARTY_TRANSACTIONS_Det1
RELATED PARTY TRANSACTIONS (Detail Textuals 1) (Accelerated Venture Partners, LLC, Consulting Services Agreement, USD $) | 1 Months Ended |
Sep. 24, 2012 | |
Accelerated Venture Partners, LLC | Consulting Services Agreement | ' |
Related Party Transaction [Line Items] | ' |
Number of option granted to purchase shares | 1,500,000 |
Price per share of AVP Option (in dollars per share) | $0.00 |
Repurchase price subject to shares grant (in dollars per share) | $0.00 |
Percentage of shares lapse milestone 1 | 60.00% |
Cash funding limit milestone 1 | $2,500,000 |
Percentage of shares lapse milestone 2 | 40.00% |
Cash funding limit milestone 2 | 5,000,000 |
Cash compensation per month | 12,500 |
Cash compensation due upon achievement of Milestone 1 | 150,000 |
Additional cash compensation due upon achievement of Milestone 2 | 150,000 |
Cash compensation payable per month | 12,500 |
Maximum cash compensation | $300,000 |
RELATED_PARTY_TRANSACTIONS_Det2
RELATED PARTY TRANSACTIONS (Details Textuals 2) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Jul. 11, 2013 |
Licensing Agreements | |||
Related Party Transaction [Line Items] | ' | ' | ' |
Minimum milestones funding receipt at July 11, 2014 | ' | ' | $200,000 |
Minimum milestones funding receipt at July 11, 2015 | ' | ' | 400,000 |
Minimum milestones funding receipt at July 11, 2016 | ' | ' | 800,000 |
Debt due to shareholder | $8,631 | $6,415 | ' |
STOCKHOLDERS_DEFICIT_Detail_Te
STOCKHOLDER'S DEFICIT (Detail Textuals) (USD $) | 23 Months Ended | 1 Months Ended | ||
Dec. 31, 2013 | Mar. 31, 2013 | Sep. 21, 2012 | Sep. 21, 2012 | |
Cellular Concrete Technologies, LLC | Accelerated Venture Partners, LLC | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Common stock, shares authorized | 100,000,000 | 100,000,000 | ' | ' |
Common stock, shares issued | 26,350,000 | 26,350,000 | 24,850,000 | ' |
Common stock, shares outstanding | 5,000,000 | 5,000,000 | 24,850,000 | ' |
Common stock issued for cash to founder | 5,000,000 | ' | ' | ' |
Value of common stock issued for cash to founder (in dollars) | $2,000 | ' | ' | ' |
Number of shares exchanged | ' | ' | 23,350,000 | ' |
Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ' |
Common stock issued price per share (in dollars per share) | ' | ' | $0.00 | ' |
Number of shares tendered | ' | ' | ' | 3,500,000 |
Number of shares held | ' | ' | ' | 5,000,000 |
Par value of common stock cancellation (in dollars per share) | ' | ' | ' | $0.00 |
Percentage of shares ownership transaction | ' | ' | 94.00% | 6.00% |
INCOME_TAXES_Valuation_allowan
INCOME TAXES - Valuation allowance against gross deferred tax assets (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Gross deferred tax assets | $12,766 | $10,566 |
Valuation allowance | -12,766 | -10,566 |
Net deferred tax asset | ' | ' |
INCOME_TAXES_Detail_Textuals
INCOME TAXES (Detail Textuals) (USD $) | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ' |
Operating loss carryforward | $12,766 |