Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jan. 31, 2016 | Mar. 16, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | ENVOY GROUP CORP. | |
Entity Central Index Key | 1,575,345 | |
Document Type | 10-Q | |
Document Period End Date | Jan. 31, 2016 | |
Trading Symbol | envv | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-30 | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 80,000,000 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,016 |
BALANCE SHEETS (Unaudited)
BALANCE SHEETS (Unaudited) - USD ($) | Jan. 31, 2016 | Apr. 30, 2015 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 15 | $ 106 |
Prepaid expenses | 1,071 | |
TOTAL ASSETS | 1,086 | $ 106 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 31,594 | 14,827 |
Due to related party (Note 4) | 23,236 | 18,462 |
Loans payable (Note 5) | 10,118 | 1,550 |
Total Current Liabilities | $ 64,948 | $ 34,839 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, of which 10,000 shares designated as Series A, no shares issued and outstanding (Note 6) | ||
Common stock, $0.0001 par value; 240,000,000 shares authorized; 80,000,000 shares issued and outstanding (Note 6) | $ 8,000 | $ 8,000 |
Additional paid-in capital | 38,500 | 38,500 |
Accumulated deficit | (110,362) | (81,233) |
Total Stockholders' Deficit | (63,862) | (34,733) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 1,086 | $ 106 |
BALANCE SHEETS (Unaudited) (Par
BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jan. 31, 2016 | Apr. 30, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, issued | ||
Preferred stock, outstanding | ||
Common shares, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common shares, authorized | 240,000,000 | 240,000,000 |
Common shares, issued | 80,000,000 | 80,000,000 |
Common shares, outstanding | 80,000,000 | 80,000,000 |
Series A Preferred Stock [Member] | ||
Preferred stock, authorized | 10,000 | 10,000 |
STATEMENTS OF OPERATIONS AND CO
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2016 | Jan. 31, 2015 | Jan. 31, 2016 | Jan. 31, 2015 | |
OPERATING EXPENSES | ||||
General and administrative | $ 6,145 | $ 13,985 | $ 9,350 | $ 17,563 |
Professional fees | 3,617 | 7,500 | 19,779 | 13,000 |
NET LOSS AND COMPREHENSIVE LOSS | $ (9,762) | $ (21,485) | $ (29,129) | $ (30,563) |
NET LOSS PER COMMON SHARE, BASIC AND DILUTED (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED (in shares) | 80,000,000 | 80,000,000 | 80,000,000 | 110,040,816 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Jan. 31, 2016 | Jan. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (29,129) | $ (30,563) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (1,071) | |
Accounts payable and accrued liabilities | 16,767 | $ 16,803 |
Net Cash Used in Operating Activities | (13,433) | $ (13,760) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from loans payable | 8,568 | |
Advances from related party | 4,774 | $ 13,972 |
Net Cash Provided by Financing Activities | 13,342 | 13,972 |
Net (Decrease) Increase in Cash and Cash Equivalents | (91) | $ 212 |
Cash and Cash Equivalents, Beginning of Period | 106 | |
Cash and Cash Equivalents, End of Period | $ 15 | $ 212 |
SUPPLEMENTARY CASH FLOW INFORMATION: | ||
Interest paid | ||
Income taxes paid |
NATURE OF BUSINESS
NATURE OF BUSINESS | 9 Months Ended |
Jan. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF BUSINESS | NOTE 1. NATURE OF BUSINESS Envoy Group Corp. (the Company), a Florida corporation, was incorporated on April 8, 2013 with its corporate headquarters located in Valencia, California. It was the Companys intent to develop a service to provide adult day care. On August 6, 2015, the Company announced that it had signed a letter of intent to acquire Picante Gaming N.V. (Picante), a Curaçao based developer of business-to-business software for real time, streaming gaming technology. Picante holds over 40 licenses worldwide. Subsequently the Company decided not to proceed with the acquisition. On November 23, 2015, the Company announced that it intends to restructure its business plan and enter the consumer products market. To date the Company has identified one area in this market that it plans to enter, which is the energy drinks industry (Note 7). |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Jan. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2. GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has had no revenue or operations, and only incurred losses since inception. As at January 31, 2016, the Company has a working capital deficiency of $63,862 and an accumulated deficit of $110,362. In view of these matters, the Companys ability to continue as a going concern is dependent upon the Companys ability to raise sufficient financing to acquire or develop a profitable business. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources, including related party advances and term notes until such time that funds provided by operations are sufficient to fund working capital requirements. These factors raise substantial doubt regarding the Companys ability to continue as a going concern. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Jan. 31, 2016 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 3. SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION These unaudited financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (US GAAP), and are expressed in United States dollars. The Companys fiscal year-end is April 30. These interim unaudited financial statements have been prepared in accordance with US GAAP interim financial information and with the instructions to Securities and Exchange Commission (SEC) Form 10-Q. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these interim financial statements should be read in conjunction with the Companys audited financial statements and notes thereto for the year ended April 30, 2015, included in the Companys Annual Report on Form 10-K filed on August 7, 2015 with the SEC. The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Companys financial position at January 31, 2016, and the results of its operations and cash flows for the three and nine months ended January 31, 2016. The results of operations for the period ended January 31, 2016 are not necessarily indicative of the results to be expected for future quarters or the full year. The significant accounting policies followed are: USE OF ESTIMATES The preparation of financial statements in conformity with US 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 period. The Company regularly evaluates estimates related to fair value measurements and deferred income tax asset valuation allowance. Actual results could differ from those estimates. FINANCIAL INSTRUMENTS ASC 825, Financial Instruments, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 825 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instruments categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 825 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The financial instruments consist principally of cash, accounts payable, and due to related parties. The fair value of cash when applicable is determined based on Level 1 inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Assets measured at fair value on a recurring basis were presented on the Companys balance sheet as of January 31, 2016 and April 30, 2015: Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant For Identical Observable Unobservable Instruments Inputs Inputs Balance as of Balance as of (Level 1) (Level 2) (Level 3) January 31, 2016 April 30, 2015 $ $ $ $ $ Assets: Cash 15 15 106 The Company does not have any liabilities measured at fair value on a recurring basis presented on the Companys balance sheet as of January 31, 2016 and April 30, 2015. Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
RELATED PARTY TRANSACTIONS AND
RELATED PARTY TRANSACTIONS AND BALANCES | 9 Months Ended |
Jan. 31, 2016 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS AND BALANCES | NOTE 4. RELATED PARTY TRANSACTIONS AND BALANCES As at January 31, 2016, the Company was indebted to the majority shareholder in the amount of $23,236 (April 30, 2015 - $18,462) for advances of working capital and expenses paid on behalf of the Company. The amount is unsecured, non-interest bearing and due on demand. |
LOANS PAYABLE
LOANS PAYABLE | 9 Months Ended |
Jan. 31, 2016 | |
Loans Payable [Abstract] | |
LOANS PAYABLE | NOTE 5. LOANS PAYABLE As at January 31, 2016, the Company was indebted to an unrelated third party in the amount of $1,550 (April 30, 2015 - $1,550). The amount is unsecured, non-interest bearing and due on demand. As at January 31, 2016, the Company was indebted to an unrelated third party in the amount of $8,568 (CAD$12,000) (April 30, 2015 - $Nil). The amount is unsecured, non-interest bearing and due on December 31, 2016. |
STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT | 9 Months Ended |
Jan. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' DEFICIT | NOTE 6. STOCKHOLDERS DEFICIT On May 9, 2014, the Company amended its Articles of Incorporation, decreasing the number of common stock authorized from 250,000,000 to 240,000,000, par value of $0.0001, and authorizing 10,000,000, par value of $0.0001, shares of preferred shares. At the time of the amendment, the Company designated 10,000 shares of its authorized but unissued shares of preferred stock as Series A Preferred Stock. The 10,000 Series A Preferred Stock shall have an aggregate voting power of 45% of the combined voting power of the entire Companys shares, common stock and preferred stock, as long as the Company is in existence. Each holder of the Series A Preferred Stock shall have full voting rights and powers equal to the voting rights and powers of the holders of common stock, and shall be entitled, notwithstanding any provision hereof, to notice of any stockholders meeting in accordance with the by-laws of the Company, and shall be entitled to vote, together with holders of common stock, with respect to any question upon which holders of common stock have the right to vote. Without the vote or consent of holders of at least a majority of the shares of Series A Preferred Stock then outstanding, the Company may not (i) authorize, create or issue, or increase the authorized number of shares of, any class or series of capital stock ranking prior to or on a parity with the Series A Preferred Stock, (ii) authorize, create or issue any class or series of common stock of the Company other than the common stock, (iii) authorize any reclassification of the Series A Preferred Stock, (iv) authorize, create or issue any securities convertible into or exercisable for capital stock prohibited by (i) or (ii), (v) amend this Certificate of Designations or (vi) enter into any merger or reorganization, or disposal of assets involving 20% of the total capitalization of the Company. Subject to the rights of the holders of any other series of preferred stock ranking senior to or on a parity with the Series A Preferred Stock with respect to liquidation and any other class or series of capital stock of the Company ranking senior to or on a parity with the Series A Preferred Stock with respect to liquidation, in the event of any liquidation, dissolution or winding up of the affairs of the Company, whether voluntary or involuntary, the holders of record of the issued and outstanding shares of Series A Preferred Stock shall be entitled to receive, out of the assets of the Company available for distribution to the holders of shares of Series A Preferred Stock, prior and in preference to any distribution of any of the assets of the Company to the holders of common stock and any other series of preferred stock ranking junior to the Series A Preferred Stock with respect to liquidation. The holders of the Series A Preferred Stock shall not be entitled to receive dividends per share of Series A Preferred Stock. The Company shall have no rights to redeem Series A Preferred Stock. COMMON STOCK On May 28, 2014, the Company issued 10,000 shares of Series A preferred stock in exchange for the return of 60,000,000 shares of common stock held by the Companys majority shareholder. On September 30, 2014, the Company issued 60,000,000 shares of common stock in exchange for the return of 10,000 shares of Series A preferred stock held by the Companys majority shareholder. On September 30, 2014, the Company cancelled 40,000,000 shares of common stock that was returned to the Company by its majority shareholder. PREFERRED STOCK - SERIES A On May 28, 2014, the Company issued 10,000 shares of Series A preferred stock in exchange for the return of 60,000,000 shares of common stock held by the Companys majority shareholder. On September 30, 2014, the Company issued 60,000,000 shares of common stock in exchange for the return of 10,000 shares of Series A preferred stock held by the Companys majority shareholder. As at January 31, 2016, there are no issued and outstanding Series A Preferred Stock issued or outstanding. |
COMMITMENTS
COMMITMENTS | 9 Months Ended |
Jan. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS | NOTE 7. COMMITMENTS On December 4, 2015, and amended on January 5, 2016, the Company entered into an agreement (the Agreement) with BVD Ltd. (BVD), a Thailand based beverage company, for the exclusive distribution rights of Louis XIV Energy Drinks within Canada. Currently, Louis XIV Energy Drinks are available only in Europe. The Company is required to pay an exclusivity fee of 30,000 (US $32,486), which is refundable after order placements of 2 million euros (US $2,165,720), have been reached. Provided that the Agreement has not been terminated by a material breach or an unacceptable change of the Company, the term of the Agreement is for five years and, unless cancelled, the contract will renew automatically for another ten years. BVD has the option to terminate the Agreement at the end of the second year by paying the Company 15,000 (US $16,243) and giving 30 days advanced written notice. Under the agreement, the Company is to acquire inventory from BVD with purchase orders that are accompanied with advance payment. |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 9 Months Ended |
Jan. 31, 2016 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | NOTE 8. SUBSEQUENT EVENT On February 2, 2016, the Company entered into consulting agreement. Pursuant to the agreement the consultant will provide consulting services for a term of one year in consideration for an estimated fee of approximately $3,500. |
SIGNIFICANT ACCOUNTING POLICI14
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Jan. 31, 2016 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | BASIS OF PRESENTATION These unaudited financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (US GAAP), and are expressed in United States dollars. The Companys fiscal year-end is April 30. These interim unaudited financial statements have been prepared in accordance with US GAAP interim financial information and with the instructions to Securities and Exchange Commission (SEC) Form 10-Q. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these interim financial statements should be read in conjunction with the Companys audited financial statements and notes thereto for the year ended April 30, 2015, included in the Companys Annual Report on Form 10-K filed on August 7, 2015 with the SEC. The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Companys financial position at January 31, 2016, and the results of its operations and cash flows for the three and nine months ended January 31, 2016. The results of operations for the period ended January 31, 2016 are not necessarily indicative of the results to be expected for future quarters or the full year. The significant accounting policies followed are: |
USE OF ESTIMATES | USE OF ESTIMATES The preparation of financial statements in conformity with US 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 period. The Company regularly evaluates estimates related to fair value measurements and deferred income tax asset valuation allowance. Actual results could differ from those estimates. |
FINANCIAL INSTRUMENTS | FINANCIAL INSTRUMENTS ASC 825, Financial Instruments, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 825 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instruments categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 825 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The financial instruments consist principally of cash, accounts payable, and due to related parties. The fair value of cash when applicable is determined based on Level 1 inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Assets measured at fair value on a recurring basis were presented on the Companys balance sheet as of January 31, 2016 and April 30, 2015: Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant For Identical Observable Unobservable Instruments Inputs Inputs Balance as of Balance as of (Level 1) (Level 2) (Level 3) January 31, 2016 April 30, 2015 $ $ $ $ $ Assets: Cash 15 15 106 The Company does not have any liabilities measured at fair value on a recurring basis presented on the Companys balance sheet as of January 31, 2016 and April 30, 2015. Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. |
RECENT ACCOUNTING PRONOUNCEMENTS | RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
SIGNIFICANT ACCOUNTING POLICI15
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Jan. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of assets measured at fair value on a recurring basis | Assets measured at fair value on a recurring basis were presented on the Companys balance sheet as of January 31, 2016 and April 30, 2015: Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant For Identical Observable Unobservable Instruments Inputs Inputs Balance as of Balance as of (Level 1) (Level 2) (Level 3) January 31, 2016 April 30, 2015 $ $ $ $ $ Assets: Cash 15 15 106 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 9 Months Ended | |
Jan. 31, 2016 | Apr. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficiency | $ 63,862 | |
Accumulated deficit | $ 110,362 | $ 81,233 |
SIGNIFICANT ACCOUNTING POLICI17
SIGNIFICANT ACCOUNTING POLICIES (Details) - Recurring Basic [Member] - USD ($) | Jan. 31, 2016 | Apr. 30, 2015 |
Assets: | ||
Cash | $ 15 | $ 106 |
Quoted Prices in Active Markets For Identical Instruments (Level 1) [Member] | ||
Assets: | ||
Cash | $ 15 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Assets: | ||
Cash | ||
Significant Unobservable Inputs (Level 3) [Member] | ||
Assets: | ||
Cash |
RELATED PARTY TRANSACTIONS AN18
RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) | Jan. 31, 2016 | Apr. 30, 2015 |
Related Party Transactions [Abstract] | ||
Due to related party | $ 23,236 | $ 18,462 |
LOANS PAYABLE (Details Narrativ
LOANS PAYABLE (Details Narrative) | Jan. 31, 2016USD ($) | Jan. 31, 2016CAD | Apr. 30, 2015USD ($) |
Loans payable | $ 10,118 | $ 1,550 | |
Unrelated Third Party [Member] | |||
Loans payable | 1,550 | $ 1,550 | |
Unrelated Third Party 1 [Member] | |||
Loans payable | $ 8,568 | ||
Unrelated Third Party 1 [Member] | CAD [Member] | |||
Loans payable | CAD | CAD 12,000 |
STOCKHOLDERS' DEFICIT (Details
STOCKHOLDERS' DEFICIT (Details Narrative) - $ / shares | Sep. 30, 2014 | May. 28, 2014 | May. 09, 2014 | Jan. 31, 2016 | Apr. 30, 2015 |
Common shares,authorized pre amendment | 250,000,000 | ||||
Common shares, authorized post amendment | 240,000,000 | 240,000,000 | 240,000,000 | ||
Common shares, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Series A Preferred Stock [Member] | |||||
Preferred stock, authorized | 10,000 | 10,000 | 10,000 | ||
Preferred stock, authorized but unissued shares | 10,000 | ||||
Description of voting rights | Aggregate voting power of 45% of the combined voting power of the entire Companys shares, common stock and preferred stock, as long as the Company is in existence. | ||||
Series A Preferred Stock [Member] | Majority Shareholder [Member] | |||||
Number of shares issued upon exchange | 10,000 | ||||
Number of shares exchange upon issuance | 10,000 | ||||
Common Stock [Member] | Majority Shareholder [Member] | |||||
Number of shares issued upon exchange | 60,000,000 | ||||
Number of shares exchange upon issuance | 60,000,000 | ||||
Number of shares cancelled | 40,000,000 |
COMMITMENTS (Details Narrative)
COMMITMENTS (Details Narrative) - Service Agreements [Member] - BVD Ltd [Member] | Dec. 04, 2015USD ($) | Dec. 04, 2015EUR (€) |
Exclusivity fee | $ | $ 32,486 | |
Refundable after order placement | $ | 2,165,720 | |
Payment for termination of agreement | $ | $ 16,243 | |
Prior notice period | 30 days | 30 days |
Expiration term | The term of the Agreement is for five years and, unless cancelled, the contract will renew automatically for another ten years. | The term of the Agreement is for five years and, unless cancelled, the contract will renew automatically for another ten years. |
Euro [Member] | ||
Exclusivity fee | € | € 30,000 | |
Refundable after order placement | € | 2,000,000 | |
Payment for termination of agreement | € | € 15,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - Service Agreements [Member] | Feb. 02, 2016USD ($) |
Consulting fees | $ 3,500 |
Expiration period | 1 year |