3. Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 |
Accounting Policies [Abstract] | ' |
Accounting Basis | ' |
Accounting Basis |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company accounts for all transactions in US dollars and has adopted a December 31 fiscal year end. |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents |
For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. |
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The Company’s bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At March 31, 2014 the Company’s bank deposits did not exceed the insured amounts. |
Basic and Diluted Income (Loss) Per Share | ' |
Basic and Diluted Income (Loss) Per Share |
The Company computes loss per share in accordance with “ASC-260, Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. No potentially dilutive debt or equity securities where issued or outstanding from Inception to March 31, 2014. |
Dividends | ' |
Dividends |
The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown. |
Income Taxes | ' |
Income Taxes |
The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. |
Advertising Costs | ' |
Advertising Costs |
The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 from Inception to March 31, 2014. |
Recent accounting pronouncements | ' |
Recent accounting pronouncements |
We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. |
Use of Estimates | ' |
Use of Estimates |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Stock-Based Compensation | ' |
Stock-Based Compensation |
As of March 31, 2014 the Company has not issued any stock-based payments to its employees. |
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Stock-based compensation is accounted for at fair value in accordance with SFAS ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options. |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments |
The Company’s financial instruments consist of cash, prepaid expenses and amounts due to its major stockholder. The carrying amount of these financial instruments approximates fair value due to their short term maturities. |
Revenue Recognition | ' |
Revenue Recognition |
The Company recognizes revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” (“ASC-605”). ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. |