Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Jun. 30, 2019 | Aug. 14, 2019 | |
Details | ||
Registrant CIK | 0001560905 | |
Fiscal Year End | --03-31 | |
Registrant Name | TORtec Group Corp | |
SEC Form | 10-Q | |
Period End date | Jun. 30, 2019 | |
Tax Identification Number (TIN) | 45-5593622 | |
Number of common stock shares outstanding | 100,000,000 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | false | |
Small Business | true | |
Emerging Growth Company | true | |
Ex Transition Period | false | |
Entity File Number | 000-55150 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 30 N. Gould St. Suite 2489 | |
Entity Address, City or Town | Sheridan | |
Entity Address, State or Province | WY | |
Entity Address, Postal Zip Code | 82801 | |
City Area Code | 307 | |
Local Phone Number | 248-9177 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Document Quarterly Report | true | |
Document Transition Report | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Jun. 30, 2019 | Mar. 31, 2019 |
Current Assets | ||
Cash | $ 126,140 | $ 4,477 |
Note receivable, net of allowance of $155,000 and $155,000, respectively | 0 | 0 |
Other current assets | 1,300 | 1,300 |
Total Current Assets | 127,440 | 5,777 |
Construction in progress | 612,753 | 612,753 |
License | 35,051 | 0 |
Total Assets | 775,244 | 618,530 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 11,219 | 35,934 |
Advance receipts for common stock subscriptions | 150,000 | 0 |
Short term advances - related parties | 389,690 | 324,990 |
Discontinued operations | 9,064 | 9,064 |
Total Current Liabilities | 559,973 | 369,988 |
Total Liabilities | 559,973 | 369,988 |
Shareholders' Equity | ||
Preferred Stock - $0.001 par value; 10,000,000 shares authorized; none outstanding | 0 | 0 |
Common stock - $0.001 par value; 200,000,000 shares authorized;100,000,000 shares issued and outstanding, respectively | 100,000 | 100,000 |
Additional paid-in capital | 5,977,077 | 5,977,077 |
Accumulated deficit | (5,861,806) | (5,828,535) |
Total Shareholders' Equity | 215,271 | 248,542 |
Total Liabilities and Shareholders' Equity | $ 775,244 | $ 618,530 |
CONSOLIDATED BALANCE SHEETS - P
CONSOLIDATED BALANCE SHEETS - Parenthetical - USD ($) | Jun. 30, 2019 | Mar. 31, 2019 |
Details | ||
Accounts Receivable, Allowance for Credit Loss, Current | $ 155,000 | $ 155,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Outstanding | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 100,000,000 | 100,000,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Details | ||
Sales | $ 0 | $ 0 |
Total Sales | 0 | 0 |
Operating Expenses | ||
Research and development | 4,242 | 0 |
General and administrative | 29,029 | 30,450 |
Total Operating Expenses | 33,271 | 30,450 |
Operating Loss | (33,271) | (30,450) |
Loss before provision for income taxes and discontinued operations | (33,271) | (30,450) |
Provision for income taxes | 0 | 0 |
Loss before loss from discontinued operations | (33,271) | (30,450) |
Discontinued operations | 0 | 0 |
Net loss | $ (33,271) | $ (30,450) |
Basic and Diluted Loss per Share - Continuing Operations | $ 0 | $ 0 |
Basic and Diluted Loss per Share - Discontinued Operations | 0 | 0 |
Basic and Diluted Loss per Share - Net Loss | $ 0 | $ 0 |
Basic and Diluted Weighted-Average Common Shares Outstanding | 100,000,000 | 10,000,000 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity (Deficit) - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Shares, Outstanding | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 100,000 | $ 5,977,077 | $ (5,630,859) | $ 446,218 |
Shares, Outstanding | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 100,000 | 5,977,077 | (5,630,859) | 446,218 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2018 | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2018 | $ 100,000 | 5,977,077 | (5,630,859) | 446,218 |
Net loss | $ 0 | 0 | (30,450) | (30,450) |
Shares, Outstanding, Ending Balance at Jun. 30, 2018 | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2018 | $ 100,000 | 5,977,077 | (5,661,309) | 415,768 |
Shares, Outstanding | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 100,000 | 5,977,077 | (5,661,309) | 415,768 |
Shares, Outstanding | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 100,000 | 5,977,077 | (5,828,535) | 248,542 |
Shares, Outstanding | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 100,000 | 5,977,077 | (5,828,535) | 248,542 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2019 | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2019 | $ 100,000 | 5,977,077 | (5,828,535) | 248,542 |
Net loss | $ 0 | 0 | (33,271) | (33,271) |
Shares, Outstanding, Ending Balance at Jun. 30, 2019 | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2019 | $ 100,000 | 5,977,077 | (5,861,806) | 215,271 |
Shares, Outstanding | 100,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 100,000 | $ 5,977,077 | $ (5,861,806) | $ 215,271 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (33,271) | $ (30,450) |
Accounts payable and accrued liabilities | (24,715) | 5,109 |
Net Cash Used in Operating Activities | (57,986) | (25,341) |
Cash Flow from Investing Activities: | ||
Purchase of a license | (35,051) | 0 |
Net Cash Provided by (Used in) Investing Activities | (35,051) | 0 |
Cash Flows from Financing Activities: | ||
Proceeds from sale of common stock | 150,000 | 0 |
Proceeds from short term advances - related parties | 64,700 | 0 |
Cash Flows Provided by Financing Activities: | 214,700 | 0 |
Net Change in Cash | 121,663 | (25,341) |
Cash at Beginning of Period | 4,477 | 31,684 |
Cash at End of Period | 126,140 | 6,343 |
Supplement Disclosure of Cash Flow Information: | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
Organization and Business
Organization and Business | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Organization and Business | NOTE 1 ORGANIZATION AND BUSINESS On June 13, 2012, the Board of Directors of Geo Point Technologies, Inc., a Utah corporation (Geo Point Utah), approved a stock dividend that resulted in a spin-off (Spin-Off) of TORtec Group Corporation (formerly Geo Point Resources, Inc.) (the "Company") common stock to the Geo Point Utah stockholders, pro rata, on the record date (the Record Date). Prior to the Spin-Off, the Company was a wholly-owned subsidiary of Geo Point Utah. The Company was incorporated on June 13, 2012, comprising all of Geo Point Utahs Environmental and Engineering Divisions assets, business, operations, rights or otherwise, along with its Hydrocarbon Identification Technology License Agreement with William C. Lachmar dated January 31, 2008. The Spin-Off had a Record Date of January 17, 2013; an ex-dividend date of January 15, 2013; and a Spin-Off payment date of April 22, 2013. |
TORtec Share Exchange Agreement
TORtec Share Exchange Agreement Disclosure | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
TORtec Share Exchange Agreement Disclosure | On November 22, 2017, the Company entered into a Share Exchange Agreement (the Agreement). The transaction closed on December 4, 2017, with TORtec Group, Inc., a Wyoming corporation (TORtec) and all of the shareholders of TORtec, pursuant to which the Company acquired 100% of the issued and outstanding shares of common stock of TORtec. Under the terms of the Agreement, a total of 90,000,000 shares of the Companys common stock were issued to the TORtec shareholders as consideration in exchange for all 10,000,000 issued and outstanding shares of TORtec common stock being transferred to the Company, making TORtec a wholly-owned subsidiary of the Company. As a result, the TORtec shareholders collectively own ninety percent (90.0%) of our issued and outstanding shares of our common stock immediately following the acquisition. Effective November 16, 2018, the Company changed its name from Geo Point Resources, Inc. to TORtec Group Corporation. TORtec Group, Inc. On September 9, 2017, TORtec entered into General Agreement No. US-17 on cooperation and joint activities on commercialization of TOR-technologies, introduction of new productions, products and services in the markets of North, Central and South America (the Exclusive License Agreement) with the parties that invented the TOR-technology. The Exclusive License Agreement grants to TORtec an exclusive license to utilize the technology for certain purposes throughout North, Central and South America. The TOR-technology equipment is best described as a cascaded adiabatic resonance vortex mill utilizing compressed air as the energy in the system. This proprietary technology includes the ability to size and classify material processed by elemental composition and specific gravity. In some cases, the quality and composition of the materials and liquids processed are new. This TOR-technology has the potential to influence the efficiency and quality of the micro-pulverization industry for re-mineralizing soil, conserve energy, cleanup and extract value from mining waste piles and to create new bio-products and metal-ceramic composites. |
Discontinued Operations
Discontinued Operations | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Discontinued Operations | Discontinued Operations In February 2018, due to the untimely death of Bill Lachmar, the Company's president, the Company ceased the operations of the Environmental and Engineering Divisions. The Company has reflected these operations as discontinued operations in the accompanying consolidated financial statements. The following is a summary of discontinued operations included within the consolidated financial statements as of June 30, 2019 and March 31, 2019: June 30, 2019 March 31, 2019 LIABILITIES Current Liabilities Accounts payable and accrued liabilities $ 9,064 $ 9,064 Total Current Liabilities - Discontinued Operations $ 9,064 $ 9,064 Discontinued operations did not impact the consolidated statements of operations and cash flow during the three months ended June 30, 2019 and 2018. |
Pending Transaction
Pending Transaction | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Pending Transaction | Pending Transaction On May 22, 2019, the Company entered into a Share Exchange Agreement with TORtec Central Asia, a Wyoming corporation, and the sole shareholder of TORtec Central Asia pursuant to which the Company has agreed to acquire 100% ownership of the outstanding shares of TORtec Central Asia stock in exchange for issuing 2,000,000 shares of the Companys common stock to Merdan Atayev who is the sole shareholder of TORtec Central Asia. The Share Exchange Agreement is subject to certain terms and conditions which have not yet been completed. The Share Exchange Agreement also provides that the Company will elect Merdan Atayev as a Vice President of the Company as a condition to the Closing of the proposed acquisition of TORtec Central Asia. As of the date of this filing the transaction has yet to close. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Summary of Significant Accounting Policies | NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the consolidated financial statements, the Company has incurred significant current period losses, negative cash flows from operating activities, has negative working capital, and an accumulated deficit. These conditions, among others, raise substantial doubt about the Companys ability to continue as a going concern. Managements plans regarding these matters, if needed, include raising additional debt or equity financing. The terms of which might not be acceptable to the Company. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Interim Condensed Consolidated Financial Statements The accompanying consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). The accompanying consolidated balance sheet as of June 30, 2019, and the consolidated statements of operations, stockholders' equity for the three months ended June 30, 2019, and 2018, and the consolidated statements of cash flows for the three months ended June 30, 2019, and 2018, are unaudited. The consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Companys consolidated financial position, results of operations, and cash flows for such periods. The financial data and other information disclosed in these notes to the consolidated financial statements related to the three month period are unaudited. The results of the three months ended June 30, 2019, are not necessarily indicative of the results to be expected for the year ending March 31, 2020, any other interim period, or any other future year. Basis of Accounting The Companys consolidated financial statements are stated in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP). Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries TORtec, TORtec Titan+, and TORtec Nanosynthesis Corp. All significant intercompany transactions have been eliminated in the consolidation. TORtec's operations have been included from its date of acquisition, see Note 1 for additional information. TORtec Titan+ and TORtec Nanosynthesis Corp do not have any operations. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes to consolidated financial statements. Actual results could differ from those estimates. Significant estimates made by management include allowance for doubtful accounts and the useful life of property and equipment. Fair Value of Financial Instruments The Company complies with the accounting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820-10, Fair Value Measurements, The guidance also establishes a fair value hierarchy for measurements of fair value as follows: · · · As of June 30, 2019 and March 31, 2019, the Company did not have Level 1, 2, or 3 financial assets or liabilities. Financial instruments consist of cash, accounts receivable, payables, and a line of credit. The fair value of financial instruments approximated their carrying values as of June 30, 2019 and March 31, 2019, due to the short-term nature of these items. Revenue Recognition The Company will recognize revenue when the earnings process is complete. This generally will occur as services are performed. Currently, the Company does not have any revenue producing activities. Basic and Diluted (Income) Loss per Common Share Basic income (loss) per common share is calculated by dividing net loss by the weighted average common shares outstanding during the period. Diluted income (loss) per common share reflects the potential dilution to basic earnings per share that could occur upon conversion or exercise of securities, options, or other such items to common shares using the treasury stock method, based upon the weighted average fair value of the Companys common shares during the period. For the three months ended June 30, 2019 and 2018, the Company did not have any dilutive securities. Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 840), to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The amendments in this standard are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for a public entity. Early adoption of the amendments in this standard is permitted for all entities and the Company must recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company adopted this standard during the current quarter with no impact on its financial statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07, CompensationStock Compensation (Topic 718) Improvements to Nonemployee Share-Based Payment Accounting. The guidance expands the scope of the topic to include share-based payments granted to non-employees in exchange for goods or services. Upon adoption, the fair value of awards granted to non-employees will be determined as of the grant date, which will be recognized over the service period. Previous guidance required the awards to be remeasured at fair value periodically when determining the related expense. ASU 2018-07 is effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted, but no earlier than an entitys adoption date of Topic 606. The Company adopted this standard during the current quarter with no impact on its financial statements and related disclosures. Recent Accounting Pronouncements The Financial Accounting Standards Board issued Accounting Standard Updates (ASUs) to amend the authoritative literature in Accounting Standards Codification (ASC). There have been a number of ASUs to date that amend the original text of ASC. The Company believes those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company or (iv) are not expected to have a significant impact on the Company's operations. |
Property and Equipment
Property and Equipment | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Property and Equipment | NOTE 3 FINANCIAL STATEMENT ELEMENTS Property and Equipment Property and equipment consists of the Company's Tornado M which was received during fiscal 2019. The Company is currently making additional expenditures in order for the Tornado M to be put into production. Thus, as of June 30, 2019 and March 31, 2019, the Tornado M is considered construction in progress for which depreciation hasn't commenced. The Company expects to depreciate costs related to the Tornado M over the period of ten years. See Note 1 for additional information. |
License
License | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
License | License On April 12, 2019, the Company, through TORtec Titan+, entered into a perpetual license for the use of certain technologies with an entity controlled by the Chairman of the Board of Directors. Under the terms of the agreement, the Company paid $35,051 for the rights and will provide future royalties of 10% of the subsidiaries' net income. The Company expects to use the technology in connection with its Tornado M. |
Short Term Advances
Short Term Advances | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Short Term Advances | NOTE 4 SHORT TERM ADVANCES From time to time, Capital Vario, a shareholder of the Company, advances monies for operations. The advances do not incur interest and are due on demand. During the three months ended June 30, 2019, Capital Vario has advanced the Company an additional $64,700 for a total of $389,690 due at June 30, 2019. The balance due to Capital Vario at March 31, 2019 was $$324,990. The advances have been reflected as "short term advances - related parties" on the accompanying consolidated balance sheets. No amounts have been advanced by Capital Vario subsequent to June 30, 2019. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Commitments and Contingencies | NOTE 5 COMMITMENTS AND CONTINGENCIES The Company does not have any pending or threatened litigation or long-term leases. |
Shareholders' Deficit
Shareholders' Deficit | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Shareholders' Deficit | NOTE 6 - SHAREHOLDERS DEFICIT Effective November 14, 2018, the Company increased its authorized common shares to 200,000,000. In May 2019, the Company sold 15,000 shares of common stock for proceeds of $150,000. Included in the stock purchase agreement was the sale of 10% interest in TORtec Nanosynthesis Corp., which was recently incorporated in May 2019. As of the date of this filing, the Company hasn't issued the shares of common stock and thus has reflected the amount received as common stock to be issued on the accompanying consolidated balance sheet. In addition, to date the subsidiary has yet to commence operations and thus no value was allocated to the sale of the 10% interest. See Note 1 for disclosure of additional shares. |
Related Party Transactkion
Related Party Transactkion | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Related Party Transactkion | NOTE 7 - RELATED PARTY TRANSACTION See Notes 1,3 and 4, for additional related party transactions. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Jun. 30, 2019 | |
Notes | |
Subsequent Events | NOTE 8 - SUBSEQUENT EVENTS The Company has evaluated subsequent events after June 30, 2019, through the date of this filing, noting no additional items which need to be disclosed within the accompanying notes to the consolidated financial statements other than those disclosed above. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2019 | |
Policies | |
Going Concern | Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the consolidated financial statements, the Company has incurred significant current period losses, negative cash flows from operating activities, has negative working capital, and an accumulated deficit. These conditions, among others, raise substantial doubt about the Companys ability to continue as a going concern. Managements plans regarding these matters, if needed, include raising additional debt or equity financing. The terms of which might not be acceptable to the Company. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Interim Financial Statements | Interim Condensed Consolidated Financial Statements The accompanying consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). The accompanying consolidated balance sheet as of June 30, 2019, and the consolidated statements of operations, stockholders' equity for the three months ended June 30, 2019, and 2018, and the consolidated statements of cash flows for the three months ended June 30, 2019, and 2018, are unaudited. The consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Companys consolidated financial position, results of operations, and cash flows for such periods. The financial data and other information disclosed in these notes to the consolidated financial statements related to the three month period are unaudited. The results of the three months ended June 30, 2019, are not necessarily indicative of the results to be expected for the year ending March 31, 2020, any other interim period, or any other future year. Basis of Accounting The Companys consolidated financial statements are stated in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP). |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries TORtec, TORtec Titan+, and TORtec Nanosynthesis Corp. All significant intercompany transactions have been eliminated in the consolidation. TORtec's operations have been included from its date of acquisition, see Note 1 for additional information. TORtec Titan+ and TORtec Nanosynthesis Corp do not have any operations. |
Use of Estimates, Policy | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes to consolidated financial statements. Actual results could differ from those estimates. Significant estimates made by management include allowance for doubtful accounts and the useful life of property and equipment. |
Fair Value of Financial Instruments, Policy | Fair Value of Financial Instruments The Company complies with the accounting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820-10, Fair Value Measurements, The guidance also establishes a fair value hierarchy for measurements of fair value as follows: · · · As of June 30, 2019 and March 31, 2019, the Company did not have Level 1, 2, or 3 financial assets or liabilities. Financial instruments consist of cash, accounts receivable, payables, and a line of credit. The fair value of financial instruments approximated their carrying values as of June 30, 2019 and March 31, 2019, due to the short-term nature of these items. |
Revenue Recognition, Policy | Revenue Recognition The Company will recognize revenue when the earnings process is complete. This generally will occur as services are performed. Currently, the Company does not have any revenue producing activities. |
Earnings Per Share, Policy | Basic and Diluted (Income) Loss per Common Share Basic income (loss) per common share is calculated by dividing net loss by the weighted average common shares outstanding during the period. Diluted income (loss) per common share reflects the potential dilution to basic earnings per share that could occur upon conversion or exercise of securities, options, or other such items to common shares using the treasury stock method, based upon the weighted average fair value of the Companys common shares during the period. For the three months ended June 30, 2019 and 2018, the Company did not have any dilutive securities. |
Recent Accounting Pronouncements | Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 840), to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The amendments in this standard are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for a public entity. Early adoption of the amendments in this standard is permitted for all entities and the Company must recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company adopted this standard during the current quarter with no impact on its financial statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07, CompensationStock Compensation (Topic 718) Improvements to Nonemployee Share-Based Payment Accounting. The guidance expands the scope of the topic to include share-based payments granted to non-employees in exchange for goods or services. Upon adoption, the fair value of awards granted to non-employees will be determined as of the grant date, which will be recognized over the service period. Previous guidance required the awards to be remeasured at fair value periodically when determining the related expense. ASU 2018-07 is effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted, but no earlier than an entitys adoption date of Topic 606. The Company adopted this standard during the current quarter with no impact on its financial statements and related disclosures. Recent Accounting Pronouncements The Financial Accounting Standards Board issued Accounting Standard Updates (ASUs) to amend the authoritative literature in Accounting Standards Codification (ASC). There have been a number of ASUs to date that amend the original text of ASC. The Company believes those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company or (iv) are not expected to have a significant impact on the Company's operations. |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Tables/Schedules | |
Disposal Groups, Including Discontinued Operations | June 30, 2019 March 31, 2019 LIABILITIES Current Liabilities Accounts payable and accrued liabilities $ 9,064 $ 9,064 Total Current Liabilities - Discontinued Operations $ 9,064 $ 9,064 |
TORtec Share Exchange Agreeme_2
TORtec Share Exchange Agreement Disclosure (Details) - shares | May 22, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2017 |
Details | ||||
Stock Issued During Period, Shares, Acquisitions | 2,000,000 | 90,000,000 | ||
Common Stock, Shares, Issued | 100,000,000 | 100,000,000 | 10,000,000 |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) | Jun. 30, 2019 | Mar. 31, 2019 |
Details | ||
Discontinued operations | $ 9,064 | $ 9,064 |
Pending Transaction (Details)
Pending Transaction (Details) - shares | May 22, 2019 | Jun. 30, 2019 |
Details | ||
Stock Issued During Period, Shares, Acquisitions | 2,000,000 | 90,000,000 |
License (Details)
License (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Details | ||
Purchase of a license | $ 35,051 | $ 0 |
Short Term Advances (Details)
Short Term Advances (Details) - USD ($) | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | |
Details | |||
Proceeds from short term advances - related parties | $ 64,700 | $ 0 | |
Short term advances - related parties | $ 389,690 | $ 324,990 |
Shareholders' Deficit (Details)
Shareholders' Deficit (Details) - USD ($) | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | |
Details | |||
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | |
Stock Issued During Period, Shares, New Issues | 15,000 | ||
Proceeds from sale of common stock | $ 150,000 | $ 0 |