Viabuilt Ventures (VBVT) 10-Q 27 Jul 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2017	Jul. 20, 2018
Document And Entity Information
Entity Registrant Name	Madison Ventures Inc.
Entity Central Index Key	1,575,975
Document Type	10-Q
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		29,400,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Current assets:
Cash		$ 8,639
Total assets		8,639
Current liabilities:
Accounts payable	21,689	77,274
Accrued liabilities		6,192
Due to related parties	251,842	236,942
Total current liabilities	273,531	320,408
Long-term liabilities:
Long-term debt due to related party	110,065	110,000
Total long-term liabilities	110,065	110,000
Total Liabilities	383,596	430,408
Commitments and Contingencies
Shareholders' equity (deficit):
Common stock: 300,000,000 shares authorized of $0.001 par value; 29,400,000 and 29,400,000 shares issued and outstanding as of December 31 and March 31, 2017, respectively	29,400	29,400
Additional paid-in capital	78,100	78,100
Accumulated deficit	(491,096)	(515,531)
Accumulated other comprehensive income (loss)		(13,738)
Total shareholders' equity (deficit)	(383,596)	(421,769)
Total liabilities and shareholders' equity (deficit)		$ 8,639

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Mar. 31, 2017
Shareholders' equity (deficit):
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	29,400,000	29,400,000
Common stock, shares outstanding	29,400,000	29,400,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Operating costs:
Consulting and professional fees	$ 10,276	$ 8,507	$ 23,661	$ 41,809
Stock based compensation				1,387
Insurance		1		2,551
Gain on disposition of foreign subsidiary, net of $13,738 foreign translation (loss) from prior periods			(48,911)
Impairment of technology license		12,321		257,225
Other general & administrative expenses	15	4,561	815	11,953
Total operating costs	10,291	25,390	(24,435)	314,925
Other income (expense):
Foreign exchange gain (loss)		(5,649)		(4,489)
Interest expense		(13)		(13)
Total other income (expense)		(5,662)		(4,502)
Net income (loss)	$ (10,291)	$ (31,052)	$ 24,435	$ (319,427)
Income (loss) per common share:
Basic and diluted	$ 0	$ 0	$ 0	$ (0.01)
Weighted average common shares outstanding:
Basic and diluted	29,400,000	29,400,000	29,400,000	28,923,636
Comprehensive income (loss):
Net income (loss)	$ (10,291)	$ (31,052)	$ 24,435	$ (319,427)
Other comprehensive income
Foreign currency translation		3,377		3,155
Comprehensive income (loss)	$ (10,291)	$ (27,675)	$ 24,435	$ (316,272)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated other comprehensive Income (loss)	Total
Beginning Balance, Shares at Mar. 31, 2016	28,400,000
Beginning Balance, Amount at Mar. 31, 2016	$ 28,400	$ 54,100	$ (194,669)	$ (76)	$ (112,245)
Stock issuance for service, Shares	1,000,000
Stock issuance for service, Amount	$ 1,000	24,000			25,000
Comprehensive income (loss)			(320,862)	(13,662)	(334,524)
Ending Balance, Shares at Mar. 31, 2017	29,400,000
Ending Balance, Amount at Mar. 31, 2017	$ 29,400	78,100	(515,531)	(13,738)	(421,769)
Comprehensive income (loss)			24,435		24,435
Disposition of foreign subsidiary				13,738	13,738
Ending Balance, Shares at Dec. 31, 2017	29,400,000
Ending Balance, Amount at Dec. 31, 2017	$ 29,400	$ 78,100	$ (491,096)		$ (383,596)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ 24,435	$ (319,427)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Employee stock based compensation		1,387
Impairment of technology license		257,225
(Gain) on disposition of foreign subsidiary	(48,911)
Changes in operating assets and liabilities:
Decrease in prepaid expenses		2,100
Decrease in miscellaneous receivable		4,792
Increase in accounts payable	6,964	50,629
Increase in accrued liabilities	(6,192)	5,900
Net cash (used in) provided by operating activities	(23,704)	2,606
Cash flows from investing activities:
Acquisition of technology license		(187,454)
Net cash (used in) investing activities		(187,454)
Cash flows from financing activities:
Proceeds from related parties	15,000	15,500
Proceeds from non-interest bearing term-debt	65	110,000
Net cash provided by financing activities	15,065	125,500
Effect of exchange rate changes on cash		3,725
Net (decrease) in cash	(8,639)	(55,623)
Cash, beginning of the year	8,639	66,795
Cash, end of the quarter		11,172
Non-cash investing and financing activities
Shares issued for accrued compensation		25,000
Supplement cash flow disclosure:
Interest paid
Income tax paid

Condensed financial statements

Condensed financial statements	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
1. Condensed financial statements	The accompanying unaudited condensed consolidated financial statements are presented in United States dollars and are prepared using the accrual method of accounting which conforms to generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial reporting and the instructions for Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all information and footnote disclosures necessary for a complete presentation of the financial position, results of operations, cash flows, and stockholders equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. The unaudited condensed consolidated balance sheet of the Company as of December 31, 2017, and the related consolidated balance sheet of the Company as of March 31, 2017, which is derived from the Company's audited financial statements, the unaudited condensed consolidated statement of operations and cash flows for the Nine Months ended December 31, 2017 and 2016 and the condensed consolidated statement of stockholders equity for the period of March 31, 2016 to December 31, 2017 and are included in this document. These unaudited condensed consolidated financial statements should be read in conjunction with the March 31, 2017 audited financial statements and related notes included in the Company’s most recent Form 10-K as filed with the Securities and Exchange Commission on March 20, 2018. Operating results for the Nine Months ended December 31, 2017 are not necessarily indicative of the results that can be expected for the year ending March 31, 2018.

Nature of operations

Nature of operations	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
2. Nature of operations	Madison Ventures Inc. (“Company”) was incorporated in the State of Nevada as a for-profit company on September 14, 2009 and established a fiscal year end of March 31. The Company initially was engaged in the acquisition, exploration and development of natural resource properties. On February 27, 2015, the Company terminated the acquisition of the mineral claim and entered into a letter of intent with Ocure Ltd. (“Ocure”), pursuant to which the Company agreed to exclusively license certain technology from Ocure related to the development of products and devices for the treatment of anal fissures and on August 5, 2015, entered into an exclusive license agreement to Ocure’s semi-occlusive wound dressing for ambulatory treatment of acute and chronic anal fissures (the “Ocure License”). On July 9, 2015, the Company established the wholly-owned subsidiary Madison-IL Ltd., incorporated under the laws of the country of Israel to address the Company’s requirement for an Israeli company to operate and hold the assets associated with Ocure License. However, the Company has not made all payments required under the Ocure License and is in breach of that agreement. Ocure has not provided formal notice of termination. The License Agreement has not been extended or amended, and there was a substantial risk the agreement would be cancelled. Accordingly the investment in the technology license of $244,904, at September 30, 2016, is impaired and written off as a result of these circumstances. In a further step to exit this line of business due to Madison-IL not achieving the projected development milestones, the Company elected January 4, 2017 to terminate the Ocure License and write off the remaining investment. On April 1, 2017, by consent action of a majority of the Company’s shareholders, Madison Ventures sold Madison-IL, the wholly owned subsidiary, to a shareholder of the Company. See Note 4. The Company has no revenues, a limited operating history, and no current line of business. The success of the Company is dependent upon the identification of products or services, the ability of the Company to obtain the necessary financing to develop such products or services, and upon future profitable operations. Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. The Company is required to make judgments and estimates about the effect of matters that are inherently uncertain. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, deferred income tax asset valuations and loss contingences. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. Although, webelieve our judgments and estimates are appropriate, actual future results may be different; if different assumptions or conditions were to prevail, the results could be materially different from our reported results. Share-based Compensation Codification topic 718 “Stock Compensation” requires that the cost resulting from all share-based transactions be recorded in the financial statements and establishes fair value as the measurement objective for share-based payment transactions with employees and acquired goods or services from non-employees. The codification also provides guidance on valuing and expensing these awards, as well as disclosure requirements of these equity arrangements. The Company adopted the codification upon creation of the company and will expense share based costs in the period incurred. The Company has not adopted a stock option plan or completed a share-based transaction; accordingly no stock-based compensation has been recorded to date. Recent Accounting Pronouncements The Company’s management has evaluated all the recently issued, but not yet effective, accounting standards that have been issued or proposed by the FASB or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position and results of operations.

Going concern

Going concern	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
3. Going concern	These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of approximately $491,000 as of December 31, 2017 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. The Company’s operating expenditure plan for the next fiscal year ending March 31, 2018 will require cash. Management intends to finance operating costs over the next twelve months with the issuance of common shares and/or related party borrowings.

Investment in technology licens

Investment in technology license	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
4. Investment in technology license	On February 27, 2015, we entered into a letter of intent (the “Letter of Intent”) with Ocure Ltd. (“Ocure”), an Israeli corporation, pursuant to which the Company would be obligated to exclusively license certain technology from Ocure under terms of a license agreement to be negotiated between the Company and Ocure. The Letter of Intent terminated when the Company did not make the second required payment, however the Company continued to negotiate with Ocure. On August 5, 2015, as amended February 26, 2016, the company entered into an exclusive license agreement (the “License Agreement”) with Ocure and Madison-IL Ltd., a wholly-owned subsidiary of the Company incorporated in Israel on July 9, 2015 (the “Subsidiary”). Pursuant to the License Agreement, Ocure granted to the Subsidiary an exclusive, sub-licensable, worldwide, license (the “License”) to Ocure’s semi-occlusive wound dressing for ambulatory treatment of acute and chronic anal fissure, pursuant to Ocure’s patents and patent applications (the “Licensed Technology”) and to its production, use, import, offer for sale, sell, lease, distribute, or otherwise commercialize the Licensed Technology for uses classified as medical devices, or those otherwise approved ultimately as an OTC (over-the-counter) remedy. In a further step to exit this line of business due to Madison-IL not achieving the projected development milestones, the Company elected January 4, 2017 to terminate the Ocure License and write off the remaining investment. On April 1, 2017, by consent action of a majority of the Company’s shareholders, Madison Ventures sold Madison-IL, the wholly owned subsidiary, to a shareholder of the Company. Under the License Agreement, the Company was obligated as consideration for the Licensed Technology to provide the Subsidiary $250,000 for the commercialization of the Licensed Technology, payable according to the following schedule: · $10,000 upon execution of the Letter of Intent (paid February 27, 2015 to Ocure), · $90,000 at the later of May 11, 2015 or the final signing date of the License Agreement (the “Effective Date”), · $50,000 on or before March 4, 2016, and · $100,000 on or before April 8, 2016 (collectively, the “First $250,000 Tranche”). The Effective Date occurred upon satisfaction of the Condition Precedent, as defined in the License Agreement, and approval of the Agreement by the Chief Scientist of the Israeli Ministry of the Economy. The License Agreement Effective Date is November 11, 2015; the date approval of the Chief Scientist of the Israeli Ministry of the Economy was received. Upon the 6-month anniversary of the Effective Date, if the Company had paid the First $250,000 Tranche, then Ocure would have transferred certain assets, as defined, to the Subsidiary, and the Company would be obligated to provide the Subsidiary a second $250,000 tranche, payable as follows: · $100,000 on or before August 12, 2016, · $100,000 on or before September 23, 2016, and · $50,000 on or before October 28, 2016. The License Agreement terminated, on a country-by-country basis, the later of: (a) the date of expiration of the last to expire of Ocure’s rights in Ocure Patents in such country or such other grant of statutory exclusivity, or (b) the end of a period of fifteen (15) years from the date of making the first commercial sale, as defined, in such country; unless sooner terminated pursuant to the terms of the License Agreement. Immediately after the Effective Date of the License Agreement and for the period ending March 31, 2016 (as amended), the shareholders of Ocure and certain individuals designated by Ocure had the opportunity to purchase up to an aggregate of 7,100,000 (1,775,000 presplit) shares of the Company’s Common Stock at the par value of $0.001 per share. In addition, the Company was to establish an incentive stock option plan reserving up to 20% of the Company’s issued share capital, as of the closing. The right to purchase an aggregate of 7,100,000 (1,775,000 presplit) shares of the Company’s Common Stock expired unexercised and the Company has not established an incentive stock option plan. In consideration of the license for the Licensed Technology and with respect to any inventions, improvement, development or enhancement based upon, consists of, comprises, contains or incorporates the Licensed Technology invented following the Effective Date by the Subsidiary, its affiliate or sub-licensee (the “New Inventions”), the Subsidiary agreed to pay Ocure royalties calculated as 5% of gross sales. In addition, the Subsidiary agreed to pay Ocure 20% of any cash or non-cash consideration received, whether for sublicense initiation fee, annual fee, sublicense milestone payments, or other such non-sale based royalty consideration payable by a sublicense as consideration for or under a sublicense. The Company was in default of the First $250,000 Tranche aggregate payment due on April 8, 2016. Upon the six month anniversary of the Effective Date (May 11, 2016) no assets were transferred by Ocure to the Company’s subsidiary. As of March 31, 2017, the Company had advanced funds aggregating $221,850 to the Subsidiary and paid Ocure $10,000 under the License Agreement. As such, the Company was in breach of its obligations under the License Agreement, but had not received notice of termination from Ocure. Madison-IL had not achieved the projected development milestones and the Company elected January 4, 2017 to terminate the Ocure License. As of March 31, 2017, the Subsidiary in furtherance of the commercialization of the Licensed Technology has incurred an aggregate of $266,722 of costs recorded as the investment in technology license. At March 31, 2017, the additional costs recorded as the investment in technology license represent vendor obligations payable. In a further step to exit this line of business due to Madison-IL not achieving the projected development milestones, the Company elected January 4, 2017 to terminate the Ocure License and write off the remaining investment. On April 1, 2017, by consent action of a majority of the Company’s shareholders, Madison Ventures sold Madison-IL, the wholly owned subsidiary, to a shareholder of the Company. Accordingly, the investment in the technology license of $266,722, at January 4, 2017, has been written off and recognized as an expense during the year ended March 31, 2017. As of December 31 and March 31, 2017, zero technology license costs are capitalized.

Due to related parties

Due to related parties	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
5. Due to related parties	Due to related parties at December 31 and March 31, 2017 consisted of the following: December 31, March 31, 2017 2017 Balance at beginning of period $ 236,942 $ 213,442 Funds advanced 15,000 23,500 Funds repaid (100 ) - Balance at end of period $ 251,842 $ 236,942 On July 3, July 8, July 10, August 12, November 12, November 13, 2014, January 23, February 27, March 5, May 16, June 17, June 30, July 6, August 13, November 17, 2015, February 13, February 20, March 7 and March 17, 2016, Ecogenics Limited, a shareholder of the Company, advanced the Company $2,000, $775, $1,460, $2,000, $2,000, $1,763, $2,000, $10,000, $3,525, $4,093, $2,755, $1,083, $5,000, $3,000, $2,041, $961, $5,000, $3,300, and $50,000 respectively, as a series of unsecured obligations. On August 11 and November 10, 2016, Pompeii Finance, a shareholder of the Company, advanced the Company $6,500 and $5,250, respectively, as a series of unsecured obligations. On April 1, 2017, by consent action of a majority of the Company’s shareholders, Madison Ventures negotiated the sale of Madison-IL, following the termination of the Ocure License, to Pompeii Finance for $100 which was deducted from the funds owed to Pompeii for the above advances. See Note 7. The net funds aggregating $114,406 were used to pay operating costs of the Company. The aggregate obligations bear no interest, have no fixed term and are not evidenced by any written agreements. The shareholders are under no obligation to advance additional funds to the Company. On December 3, December 24, 2015, January 4, January 6, January 15, November 10, 2016, February 7, March 30, and September 5, 2017, Morpheus Financial Corporation Limited, a shareholder of the Company, advanced the Company $37,473, $7,500, $7,326, $8,412, $49,975, $3,750, $5,000, $3,000, and $15,000, respectively, as a series of unsecured obligations. The funds aggregating $137,436 were used to pay operating costs of the Company. On February 7, and June 19, 2018, Morpheus advanced the Company $20,538 and $1,167, respectively, to pay operating costs of the Company. On January 8, 2016, the aggregate advances received and future advances from Morpheus were structured as a noninterest bearing unsecured non-recourse loan due January 31, 2017. The shareholder, if requested by the Company, agreed to advance additional funds to the Company up to a maximum of $250,000 subject to certain timing limitation as defined. The Company is currently is negotiating an extension of the due date.

Long-term debt due to related p

Long-term debt due to related party	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
6. Long-term debt due to related party	Long term debt at December 31 and March 31, 2017 consisted of the following: December 31, March 31, 2017 2017 Balance at beginning of period $ 110,000 $ - Funds advanced 65 110,000 Funds repaid - - Balance at end of period $ 110,065 $ 110,000 On April 18, 2016, the Company entered into a five year non-interest bearing loan agreement for $110,000 with Cronus Overseas Corporation, a shareholder of the Company. Proceeds were used to fund the Technology acquisition and operations. If the loan is not repaid on or before April 15, 2021 the loan amount will be subject to default interest on the amount then outstanding of ten percent (10%) per month during the first 30 days of delinquency, fifteen percent (15%) per month during the 31 to 60 days of delinquency, twenty percent (20%) per month during the 61 to 90 days of delinquency (the “Default Interest”). If the loan amount remains unpaid after 90 days the lender, at its option, will be entitled to a default payment of one hundred fifty-nine percent (159%) of the then outstanding loan amount inclusive of the Default Interest. On September 25, 2017, Cronus paid on behalf of the Company $65 for operating costs of the Company.

Related party transactions

Related party transactions	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
7. Related party transactions	Employment Agreements On April 2, 2014, Mr. Gene Gregorio was appointed the Company’s President, Chief Executive Officer, Chief Financial Officer and sole Director. On April 20, 2014, the Company agreed to issue Mr. Gregorio 1,000,000 (250,000 presplit) restricted shares of the Company’s Common Stock, valued at $25,000, based on the market close, as compensation for his services for an initial term of one year (the “April 20 th In addition, if during the term of the April 20 th On April 14, 2015, the April 20 th th On August 9, 2016, the Company issued Mr. Gregorio the agreed 1,000,000 restricted shares of the Company’s Common Stock for services rendered during the period April 21, 2015 to April 20, 2016. On April 23, 2018, Mr. Gregorio resigned as the Company’s President, Chief Executive Officer, Chief Financial Officer and as the sole Director. Madison-IL On March 31, 2017, the Company forgave the intercompany debt between Madison Ventures, Inc. and Madison-IL Ltd which aggregated $231,850. The Company, established Madison-IL on July 9, 2015 as a wholly-owned subsidiary, incorporated under the laws of the country of Israel to address the Company’s requirement for an Israeli company to operate and hold the assets associated with Ocure License. Following the Company’s January 4, 2017 decision to terminate the Ocure License and to dissolve or liquidate Madison-IL, by consent action of a majority of the Company’s shareholders, Madison Ventures negotiated the sale of Madison-IL to Pompeii Finance, a shareholder of the Company, on April 1, 2017 for $100 which was deducted from the funds owed to Pompeii for related party advances. See Note 5. Pompeii assumes the remaining assets and liabilities of Madison-IL which on March 31, 2017 aggregated 23,844 NIL and 250,996 NIL or approximately $6,566 and $69,115, respectively. On April 1, 2017, the Company recognized a net gain from the sale of Madison-IL of $48,911 ($62,549 of net liabilities eliminated, offset by $13,738 of other comprehensive losses from prior period foreign translation adjustments and $100 of proceeds received).

Capital stock

Capital stock	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
8. Capital stock	The Company’s capitalization is 300,000,000 shares of common stock, with a par value of $0.001 per share, with 29,400,000 shares issued and outstanding at December 31, 2017 and March 31, 2017. On April 11, 2016, the Company effected a four for one forward stock split of our i) authorized and ii) issued and outstanding shares of common stock. All share information has been restated for all periods presented giving retroactive effect of the April 11, 2016 four to one forward stock split. Prior to the forward stock split the Company had 75,000,000 authorized shares of common stock, with a par value of $0.001 per share and 7,100,000 shares issued and outstanding at March 31, 2016. As of March 31, 2017 and 2016, the Company has not granted any stock options or stock warrants.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
9. Subsequent Events	On February 7, 2018, Morpheus Financial Corporation Limited, a shareholder of the Company, advanced the Company $20,538 (advanced as 25,735 CND) to pay operating costs. On April 23, 2018, the Company entered into a Plan of Reorganization and Agreement of Securities Exchange (the “Agreement”) with Firetainment Inc. (“Firetainment”), a Florida Corporation. The Agreement will result in the merger of Firetainment into Madison Ventures with the corporation to survive as Firetainment Inc. Pursuant to the Agreement the Company agreed to issue Firetainment two hundred million (200,000,000) common shares in exchange for all of the shares of Firetainment. This issuance will result in a change in control of the Company. Under the Agreement, upon execution, Firetainment received the immediate right to the appointment of the directors and officers of the surviving corporation by the resignation of the existing sole director and officer of the Company and the simultaneous appointment of its own designee being the newly appointed sole director and officer. The closing of the Agreement will take place upon the delivery and completion of Firetainment audited statements for the period ending March 31, 2018, unless another time or date, or both, are agreed to in writing by the parties. Also on April 23, 2018, the Board of Directors appointed William Shawn Clark as our Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer as well as our Sole Director. Concurrent with Mr. Clarks’ appointment, Eugenio Gregorio resigned as Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer as well as our Sole Director. Mr. Clark, the sole owner of Firetainment, is now our sole officer and director. On June 19, 2018, Morpheus Financial Corporation Limited, a shareholder of the Company, advanced the Company $1,167 to pay operating costs. On June 29, 2018, Firetainment Inc. advanced the Company $10,000 to pay operating costs. On July 5, 2018, holders of 15,820,000 shares of the Company’s outstanding common stock, representing approximately 53.8% of the outstanding shares, approved, by written consents, an amendment to the articles of incorporation of the Company to change the name of the Company from “Madison Ventures Inc.” to “Viabuilt Ventures Inc.” On July 5, 2018, there were no written consents received by the Company representing a vote against, abstention or broker non-vote with respect to the proposal to change the name. The Company expects to change its name when all regulatory approvals have been obtained.

Nature of operations (Policies)

Nature of operations (Policies)	9 Months Ended
	Dec. 31, 2017
Nature Of Operations
Use of Estimates and Assumptions	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. The Company is required to make judgments and estimates about the effect of matters that are inherently uncertain. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, deferred income tax asset valuations and loss contingences. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. Although, webelieve our judgments and estimates are appropriate, actual future results may be different; if different assumptions or conditions were to prevail, the results could be materially different from our reported results.
Share-based Compensation	Codification topic 718 “Stock Compensation” requires that the cost resulting from all share-based transactions be recorded in the financial statements and establishes fair value as the measurement objective for share-based payment transactions with employees and acquired goods or services from non-employees. The codification also provides guidance on valuing and expensing these awards, as well as disclosure requirements of these equity arrangements. The Company adopted the codification upon creation of the company and will expense share based costs in the period incurred. The Company has not adopted a stock option plan or completed a share-based transaction; accordingly no stock-based compensation has been recorded to date.
Recent Accounting Pronouncements	The Company’s management has evaluated all the recently issued, but not yet effective, accounting standards that have been issued or proposed by the FASB or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position and results of operations.

Due to related parties (Tables)

Due to related parties (Tables)	9 Months Ended
	Dec. 31, 2017
Due To Related Parties
Due to related parties	December 31, March 31, 2017 2017 Balance at beginning of period $ 236,942 $ 213,442 Funds advanced 15,000 23,500 Funds repaid (100 ) - Balance at end of period $ 251,842 $ 236,942

Long-term debt due to related18

Long-term debt due to related party (Tables)	9 Months Ended
	Dec. 31, 2017
Long-term Debt Due To Related Party
Long term debt	December 31, March 31, 2017 2017 Balance at beginning of period $ 110,000 $ - Funds advanced 65 110,000 Funds repaid - - Balance at end of period $ 110,065 $ 110,000

Nature of operations (Details N

Nature of operations (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016
Nature Of Operations Details Narrative
State of incorporation				State of Nevada
Date of incorporation				Sep. 14, 2009
Impairment of technology license		$ 12,321	$ 244,904		$ 257,225

Going concern (Details Narrativ

Going concern (Details Narrative) - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Going Concern
Accumulated deficit	$ (491,096)	$ (515,531)

Investment in technology lice21

Investment in technology license (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Apr. 08, 2016
Advance for commercialization of the licensed technology						$ 221,850
Fees paid for commercialization licensed technology						$ 10,000
Default of the first tranche aggregate payment								$ 250,000
Impairment of technology license		$ 12,321	$ 244,904		$ 257,225
Common stock, par value	$ 0.001			$ 0.001		$ 0.001
Occur royalties payable, percentage				5.00%
Occur cash payable, percentage				20.00%
License Agreement One [Member]
Advance for commercialization of the licensed technology	$ 250,000			$ 250,000
Advance for commercialization of the licensed technology description				Second $250,000 tranche, payable as follows: · $100,000 on or before August 12, 2016, · $100,000 on or before September 23, 2016, and · $50,000 on or before October 28, 2016.
License Agreement [Member]
Advance for commercialization of the licensed technology	$ 250,000			$ 250,000
Advance for commercialization of the licensed technology description				Licensed Technology, payable according to the following schedule: · $10,000 upon execution of the Letter of Intent (paid February 27, 2015 to Ocure), · $90,000 at the later of May 11, 2015 or the final signing date of the License Agreement (the “Effective Date”), · $50,000 on or before March 4, 2016, and · $100,000 on or before April 8, 2016 (collectively, the “First $250,000 Tranche”).
Investment in technology license						$ 266,722
Impairment of technology license						$ 266,722
Purchase of common stock, shares							7,100,000
Purchase of common stock, presplit shares							1,775,000
Common stock, par value							$ 0.001
Incentive stock option, percentage							20.00%
Right to purchase of common stock shares, description							The right to purchase an aggregate of 7,100,000 (1,775,000 presplit) shares of the Company’s Common Stock expired unexercised and the Company has not established an incentive stock option plan.

Due to related parties (Details

Due to related parties (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Due To Related Party Details Abstract
Balance at beginning of period	$ 236,942	$ 213,442
Funds advanced	15,000	23,500
Funds repaid	(100)
Balance at end of period	$ 251,842	$ 236,942

Due to related parties (Detai23

Due to related parties (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2017	Jun. 19, 2018	Feb. 07, 2018	Sep. 05, 2017	Mar. 31, 2017	Mar. 30, 2017	Feb. 07, 2017	Nov. 10, 2016	Aug. 11, 2016	Mar. 31, 2016	Mar. 17, 2016	Mar. 07, 2016	Feb. 20, 2016	Feb. 13, 2016	Jan. 15, 2016	Jan. 06, 2016	Jan. 04, 2016	Dec. 24, 2015	Dec. 03, 2015	Nov. 17, 2015	Aug. 13, 2015	Jul. 06, 2015	Jun. 30, 2015	Jun. 17, 2015	May 16, 2015	Mar. 05, 2015	Feb. 27, 2015	Jan. 23, 2015	Nov. 13, 2014	Nov. 12, 2014	Aug. 12, 2014	Jul. 10, 2014	Jul. 08, 2014	Jul. 03, 2014
Advance of additional funds, description	The shareholder, if requested by the Company, agreed to advance additional funds to the Company up to a maximum of $250,000 subject to certain timing limitation as defined.
Due to related party	$ 251,842				$ 236,942					$ 213,442
Morpheus Financial Corporation Limited [Member]
Due to related party				$ 15,000	$ 137,436	$ 3,000	$ 5,000	$ 3,750							$ 49,975	$ 8,412	$ 7,326	$ 7,500	$ 37,473
Morpheus Financial Corporation Limited [Member] | Subsequent Event [Member]
Due to related party		$ 1,167	$ 20,538
Pompeii Finance [Member]
Due to related party								$ 5,250	$ 6,500
Pompeii Finance [Member] | April 1, 2017 [Member]
Adjustment of negotiated sale amount	100
Ecogenics Limited [Member]
Due to related party	$ 114,406										$ 50,000	$ 3,300	$ 5,000	$ 961						$ 2,041	$ 3,000	$ 5,000	$ 1,083	$ 2,755	$ 4,093	$ 3,525	$ 10,000	$ 2,000	$ 1,763	$ 2,000	$ 2,000	$ 1,460	$ 775	$ 2,000

Long-term debt due to related24

Long-term debt due to related party (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Longterm Debt Details
Balance at beginning of period	$ 110,000
Funds advanced	65	110,000
Funds repaid
Balance at end of period	$ 110,065	$ 110,000

Long-term debt due to related25

Long-term debt due to related party (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 25, 2017	Apr. 18, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Operating costs			$ 10,291	$ 25,390	$ (24,435)	$ 314,925
Cronus Overseas Corporation [Member]
Long-term debt		$ 110,000
Default interest description		If the loan is not repaid on or before April 15, 2021 the loan amount will be subject to default interest on the amount then outstanding of ten percent (10%) per month during the first 30 days of delinquency, fifteen percent (15%) per month during the 31 to 60 days of delinquency, twenty percent (20%) per month during the 61 to 90 days of delinquency (the “Default Interest”). If the loan amount remains unpaid after 90 days the lender, at its option, will be entitled to a default payment of one hundred fifty-nine percent (159%) of the then outstanding loan amount inclusive of the Default Interest.
Operating costs	$ 65

Related party transactions (Det

Related party transactions (Details Narrative) - USD ($)	Aug. 09, 2016	Apr. 14, 2015	Mar. 31, 2015	Apr. 20, 2014	Apr. 20, 2014	Dec. 31, 2017	Mar. 31, 2017
Net liabilities						$ 383,596	$ 430,408
Accumulated other comprehensive income (loss)							(13,738)
Mr. Gene Gregorio [Member]
Common stock restricted shares		1,000,000	1,000,000	1,000,000
Common stock restricted shares presplit				250,000
Value of restricted shares		$ 25,000		$ 25,000
Stock option investing period description					In addition, if during the term of the April 20th Agreement Mr. Gregorio’s direct efforts result in a consummated financing for the Company he shall be paid a 5.0% fee on such financing received by the Company, at his option, as either cash or shares of Company’s Common Stock at the offering price. Additionally, the Company will grant Mr. Gregorio a 2 year stock option priced at the current market trading price equal to 5% of the aggregate shares issued to investors within the financing
Pompeii Finance [Member] | April 1, 2017 [Member]
Adjustment of negotiated sale amount						100
Net liabilities						62,549
Pompeii Finance [Member] | Madison-IL Ltd [Member]
Business acquisition remaining assets							6,566
Business acquisition remaining liabilities							69,115
Pompeii Finance [Member] | Madison-IL Ltd [Member] | April 1, 2017 [Member]
Business combination net gain from sale						48,911
Accumulated other comprehensive income (loss)						13,378
Foreign translation adjustments						$ 100
Madison Ventures, Inc [Member] | Madison-IL Ltd [Member]
Forgiveness of debt							$ 231,850
Mr. Gregorio [Member]
Shares issued for service	1,000,000

Capital stock (Details Narrativ

Capital stock (Details Narrative) - $ / shares	Apr. 11, 2016	Dec. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Common stock, par value		$ 0.001	$ 0.001
Common stock, shares authorized		300,000,000	300,000,000
Common stock, shares issued		29,400,000	29,400,000
Common stock, shares outstanding		29,400,000	29,400,000
Forward stock split [Member]
Common stock, par value				$ 0.001
Common stock, shares authorized				75,000,000
Common stock, shares issued				7,100,000
Common stock, shares outstanding				7,100,000
Forward stock split	four for one

Subsequent Event (Details Narra

Subsequent Event (Details Narrative) - USD ($)	Jul. 05, 2018	Apr. 23, 2018	Jun. 29, 2018	Jun. 19, 2018	Feb. 07, 2018	Dec. 31, 2017	Sep. 05, 2017	Mar. 31, 2017	Mar. 30, 2017	Feb. 07, 2017	Nov. 10, 2016	Mar. 31, 2016	Jan. 15, 2016	Jan. 06, 2016	Jan. 04, 2016	Dec. 24, 2015	Dec. 03, 2015
Due to related party						$ 251,842		$ 236,942				$ 213,442
Common stock, shares outstanding						29,400,000		29,400,000
Morpheus Financial Corporation Limited [Member]
Due to related party							$ 15,000	$ 137,436	$ 3,000	$ 5,000	$ 3,750		$ 49,975	$ 8,412	$ 7,326	$ 7,500	$ 37,473
Subsequent Event [Member]
Common stock, shares outstanding	15,820,000
Common stock, shares outstanding holding percentage	53.80%
Subsequent Event [Member] | Morpheus Financial Corporation Limited [Member]
Due to related party				$ 1,167	$ 20,538
Subsequent Event [Member] | Firetainment Inc [Member]
Due to related party			$ 10,000
Subsequent Event [Member] | Securities Exchange Agreement [Member] | Firetainment Inc [Member]
Common shares exchange upon execution under agreement		200,000,000