Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Feb. 28, 2015 | Apr. 17, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Perk International Inc. | |
Entity Central Index Key | 1579717 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -26 | |
Document Type | 10-Q | |
Document Period End Date | 28-Feb-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q3 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 100,199,798 |
Interim_Consolidated_Balance_S
Interim Consolidated Balance Sheets (Unaudited) (USD $) | Feb. 28, 2015 | 31-May-14 |
Current assets | ||
Cash | $34,089 | |
Accounts receivable | 76,343 | 155,141 |
Total current assets | 76,343 | 189,230 |
Property and equipment (Note 8) | 37,378 | |
TOTAL ASSETS | 113,721 | 189,230 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 327,813 | 202,889 |
Bank indebtedness | 5,408 | |
Customer deposit | 92,234 | |
Current portion of term loan (Note 9) | 2,776 | 3,202 |
Due to non-related parties (Note 10) | 60,492 | |
Due to related party (Note 4) | 22,790 | 21,181 |
Total current liabilities | 419,279 | 319,506 |
Term loan (Note 9) | 8,000 | 11,597 |
Total Liabilities | 427,279 | 331,103 |
Stockholders' Deficiency | ||
Common stock, $.0001 par value, 250,000,000 shares authorized, 100,199,798 and 200 shares issued and outstanding at February 28, 2015 and May 31, 2014, respectively | 10,020 | 200 |
Additional paid in capital | 9,993 | |
Stock warrants | 6,115 | |
Deficit | -376,778 | -142,572 |
Accumulated other comprehensive income | 37,092 | 499 |
Total Stockholders' Deficiency | -313,558 | -141,873 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | $113,721 | $189,230 |
Interim_Consolidated_Balance_S1
Interim Consolidated Balance Sheets (Parenthetical) (Unaudited) (USD $) | Feb. 28, 2015 | 31-May-14 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 100,199,798 | 200 |
Common stock, shares outstanding | 100,199,798 | 200 |
Interim_Consolidated_Statement
Interim Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Feb. 28, 2015 | Feb. 28, 2014 | Feb. 28, 2015 | Feb. 28, 2014 | |
Sales | ||||
Products | $5,210 | $23,263 | $272,164 | $141,447 |
Services | 39,794 | 16,569 | 116,799 | 91,461 |
Sales | 45,004 | 39,832 | 388,963 | 232,908 |
Cost of sales | ||||
Products | 10,724 | 7,571 | 145,637 | 116,717 |
Services | 24,652 | 14,707 | 68,732 | 65,976 |
Cost of sales | 35,376 | 22,275 | 214,369 | 182,693 |
Gross Profit | 9,628 | 17,557 | 174,594 | 50,215 |
Operating expenses: | ||||
Consulting and professional | 114,709 | 18,591 | 265,405 | 128,795 |
General and administrative | 23,672 | 25,873 | 81,765 | 55,774 |
Impairment of property and equipment | 39,101 | 39,101 | ||
Depreciation | 6,511 | 6,601 | 1,233 | |
Operating expenses | 183,993 | 44,464 | 392,872 | 185,802 |
Operating loss | -174,365 | -26,907 | -218,278 | -135,587 |
Gain on disposition of equipment | 9,925 | |||
Gain on forgiveness of debt | 22,985 | 22,985 | ||
Net loss before taxes | -151,380 | -26,907 | -195,293 | -125,662 |
Income tax | ||||
Net loss | -151,380 | -26,907 | -195,293 | -125,662 |
Foreign exchange translation adjustment | 27,519 | -1,771 | 36,593 | -113 |
Comprehensive loss | ($123,861) | ($28,678) | ($158,700) | ($125,775) |
NET LOSS PER SHARE: BASIC AND DILUTED | ($0.00) | ($0.00) | ($0.00) | ($0.00) |
WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC AND DILUTED | 87,419,143 | 70,000,000 | 75,742,575 | 70,000,000 |
Statements_of_Interim_Consolid
Statements of Interim Consolidated Cash Flows (Unaudited) (USD $) | 9 Months Ended | |||
Feb. 28, 2015 | Feb. 28, 2014 | |||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net loss for the period | ($195,293) | ($125,662) | ||
Adjustment to reconcile net loss to net cash used in operating activities: | ||||
Depreciation | 6,601 | 1,233 | ||
Impairment of property and equipment | 39,101 | |||
Gain on forgiveness of debt | -22,985 | |||
Gain on disposition of equipment | -9,925 | |||
Changes in assets and liabilities: | ||||
(Increase) decrease in accounts receivable* | -20,474 | [1] | 20,832 | [1] |
Increase decrease in customer deposit | -88,066 | |||
Increase (decrease) in accounts payable and accrued expenses | 165,716 | 58,387 | ||
Net Cash Used in Operating Activities | -115,400 | -55,135 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Insurance proceeds on write off of equipment | 45,934 | |||
Repayment of lease for purchase of vehicle | -42,435 | |||
Purchase of property and equipment | -2,103 | |||
Net Cash Provided by (Used in) Investing Activities* | -2,103 | [1] | 3,499 | [1] |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Increase in bank indebtedness | 5,954 | 5,431 | ||
Exercise of stock warrants | 10,000 | |||
Advances from non-related parties | 66,607 | |||
Advances (Repayment) of term loan | -2,265 | 15,440 | ||
Advances from related parties | 4,871 | 19,407 | ||
Net Cash Provided by Financing Activities | 85,167 | 40,278 | ||
Effects of foreign currency exchange rate changes | -1,753 | -1,515 | ||
Net (Decrease) in Cash | -34,089 | -12,873 | ||
Cash, beginning of period | 34,089 | 12,873 | ||
Cash end of period | ||||
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||
Interest paid | $6,036 | $3,106 | ||
[1] | Excludes the acquisition of capital equipment for $76,782 (CAD $96,000) on settlement of accounts receivable. |
Statements_of_Interim_Consolid1
Statements of Interim Consolidated Cash Flows (Parenthetical) (Unaudited) | 9 Months Ended | |
Feb. 28, 2015 | Feb. 28, 2015 | |
USD ($) | CNY | |
Statement of Cash Flows [Abstract] | ||
Acquisition of capital equipment | $76,782 | 96,000 |
Interim_Consolidated_Statement1
Interim Consolidated Statements of Changes In Stockholders' Equity Deficiency (Unaudited (USD $) | Total | Number of Common shares | Additional Paid In Capital | Stock Warrants | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Income (Loss) |
Beginning Balance at May. 31, 2013 | $30,967 | $200 | $31,798 | ($1,031) | ||
Beginning Balance, Shares at May. 31, 2013 | 200 | |||||
Net loss for the period | -174,370 | -174,370 | ||||
Foreign exchange translation adjustment | 1,530 | 1,530 | ||||
Ending Balance at May. 31, 2014 | -141,873 | 200 | -142,572 | 499 | ||
Beginning Balance, Shares at May. 31, 2014 | 200 | |||||
Effect of reverse acquisition, January 8, 2015 | -22,985 | 9,813 | 6,115 | -38,913 | ||
Effect of reverse acquisition, January 8, 2015, Shares | 100,132,932 | |||||
Exercise of stock warrants | 10,000 | 7 | 9,993 | |||
Exercise of stock warrants, Shares | 66,666 | |||||
Net loss for the period | -195,293 | -195,293 | ||||
Foreign exchange translation adjustment | 36,593 | 36,593 | ||||
Ending Balance at Feb. 28, 2015 | ($313,558) | $10,020 | $9,993 | $6,115 | ($376,778) | $37,092 |
Ending Balance, Shares at Feb. 28, 2015 | 100,199,798 |
Nature_of_Operations
Nature of Operations | 9 Months Ended |
Feb. 28, 2015 | |
Nature Of Operations [Abstract] | |
NATURE OF OPERATIONS | NOTE 1 – NATURE OF OPERATIONS |
Organization and Description of Business | |
Perk International Inc. (“the Company” or “Perk”) was incorporated under the laws of the State of Nevada on April 10, 2013. Our corporate headquarters are located at 5401, Eglinton Avenue West, Suite 205 Toronto, Ontario, Canada M9C 5K6. | |
Basis of Presentation | |
The accompanying unaudited interim consolidated financial statements of Perk International Inc. have been prepared in accordance with accounting principles in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed with the SEC. The accompanying unaudited interim consolidated financial statements do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with U.S. generally accepted accounting principles; however, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for a fair statement of the results for the interim periods. | |
In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments of a normal recurring nature considered necessary to fairly state the financial position of the Company at February 28, 2015 and May 31, 2014, the results of its operations for the three and nine month periods ended February 28, 2015 and February 28, 2014, and its cash flows for the nine-month period ended February 28, 2015 and February 28, 2014. The results of operations for the nine-month period ended February 28, 2015 are not necessarily indicative of results to be expected for the full year. |
Reverse_Merger_Transaction_and
Reverse Merger Transaction and Accounting | 9 Months Ended | ||
Feb. 28, 2015 | |||
Reverse Merger Transaction And Accounting [Abstract] | |||
REVERSE MERGER TRANSACTION AND ACCOUNTING | NOTE 2 - REVERSE MERGER TRANSACTION AND ACCOUNTING | ||
On January 8, 2015, Perk International Inc., a Nevada corporation (the “Company”), entered into a Share Exchange Agreement (the “Exchange Agreement”) with Tech 9 Inc., a privately held company incorporated under the laws of the Province of Ontario (“Tech 9”), and the shareholders of Tech 9. In accordance with the terms of the Exchange Agreement, at the closing, an aggregate of 70,000,000 shares of the Company’s common stock were issued to the holders of Tech 9’s common stock in exchange for their shares of Tech 9. Each of the Company, Tech 9 and the shareholders of Tech 9 provided customary representations and warranties, pre-closing covenants and closing conditions in the Exchange Agreement. | |||
Immediately subsequent to the Exchange, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Conveyance Agreement”) with the prior officers and directors. Pursuant to the Conveyance Agreement, the Company transferred all assets and business operations associated with the daily deals/coupons business to its prior officers and directors. In exchange, they agreed to cancel their collective 45,000,000 shares in the company and to assume and cancel all liabilities relating to Company’s former business. | |||
As a result of the share exchange, Tech9 has become a wholly-owned subsidiary of the Registrant and the Registrant issued shares of its common stock to shareholders of Tech9 at rate of 350,000 shares of the Registrant’s common stock for each Tech9 common share resulting in issue of a total of 70,000,000 common shares. Immediately prior to the share exchange, the Registrant had 75,133,132 shares of common stock outstanding. | |||
Following the share exchange and the issuance of 70,000,000 common shares to the shareholders of Tech9, the Registrant had 145,133,132 shares of common stock outstanding. | |||
At closing, the Registrant cancelled 45,000,000 common shares of the Registrant in accordance with the Transfer and Assumption Agreement between the Registrant and shareholders of the Registrant. Following the share exchange and the Transfer and Assumption Agreement, the Registrant had 100,133,132 shares of common stock outstanding and 29,866,668 warrants outstanding. | |||
In a business combination effected primarily by exchanging equity interests, the acquirer usually is the entity that issues its equity interests. However, in some business combinations, commonly called reverse acquisitions, the issuing entity is the acquiree. Sub Topic 805-40 provides guidance on accounting for reverse acquisitions. The acquirer usually is the combining entity whose owners as a group retain or receive the largest portion of the voting rights in the combined entity. In determining which group of owners retains or receives the largest portion of the voting rights, an entity considers the existence of any unusual or special voting arrangements and options, warrants, or convertible securities. | |||
After considering the warrants of the combined company, on a fully diluted basis, it is estimated that Tech9 shareholders will hold 53.8% of the outstanding shares of the combined company. Thus, this supports the position that Tech9 is the accounting acquirer. | |||
The transaction has been accounted for as a reverse merger, with Tech9 shareholders acquiring approximately 53.80% of the outstanding shares on a fully diluted basis of Registrant’s common stock immediately after the closing of the transactions contemplated herein, and also on the basis that Tech9’s senior management became the senior management of the merged entity and there is a change of control of the Company. In accordance with Accounting Standards Codification (“ASC”) 805-10-40, Business Combinations; Reverse Acquisitions, Tech9 was the acquiring entity for accounting purposes. While the transaction is accounted for using the purchase method of accounting, in substance the transaction was a recapitalization of the Tech9’s capital structure. | |||
The Exchange is being accounted for as a reverse acquisition and recapitalization. Tech 9 is the acquirer for accounting purposes and the Company is the issuer. Accordingly, Tech 9’s historical financial statements for periods prior to the acquisition become those of the acquirer retroactively restated for the equivalent number of shares received in the Exchange. The accumulated deficit of Tech 9 is carried forward after the acquisition. Operations prior to the Exchange are those of Tech 9. Earnings per share for the period prior to the Exchange are restated to reflect the equivalent number of shares outstanding. | |||
There were 75,133,132 shares of the Company’s common stock outstanding before giving effect to the stock issuances in the Exchange. Immediately following the Exchange, the Company’s majority shareholders cancelled their collective 45,000,000 shares. Following these transactions, there were 100,133,132 shares outstanding, including: | |||
Shares: | Held By: | ||
70,000,000 | Tech 9 Shareholders | ||
30,133,132 | Existing Company Shareholders | ||
The Company intends to carry on the business of Tech 9, as its primary line of business. The Company has relocated its principal executive offices to 5401 Eglinton Avenue West, Suite 205 Toronto, Ontario M9C 5K6. As a result of the Agreement, the Company is no longer pursuing the former business plan. Under the direction of our newly appointed officers and directors, as set forth below, the Company is pursuing the business of deploying, installing and managing “DOOH” (digital out of home) networks that are designed for retail healthcare, automotive, institutional, financial and high traffic C-stores (convenience stores) newsstands and retail locations. |
Going_Concern
Going Concern | 9 Months Ended |
Feb. 28, 2015 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 3 - GOING CONCERN |
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. This contemplates that assets will be realized and liabilities and commitments satisfied in the normal course of business. The Company has limited operating history and has an accumulated deficit of $376,778 as of February 28, 2015. This raises substantial doubt as to the Company’s continuance as a going concern, which is dependent upon its ability to obtain adequate financing and to reach profitable cash flow from operations. | |
The Company has working capital deficit of $342,936 and bank indebtness of $5,408 as at February 28, 2015. The future of the Company is dependent upon its ability to obtain financing and upon future profitable operations. Management has plans to seek additional capital through private placements and public offering of its capital stock. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Although there are no assurances that management's plans will be realized, management believes that the Company will be able to continue operations in the future. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Feb. 28, 2015 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS |
Nine months ended February 28, 2015 | |
The transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties under common control. | |
i) As of February 28, 2015, the Company had a payable to a related party for $22,790 which is unsecured and due on demand. | |
ii) During the nine month period, the Company expensed management fees for $235,200 (CAD $267,072) to two directors of the Company of which an amount of $120,477 is unpaid and included in accounts payable and accrued liabilities. | |
Nine months ended February 28, 2014 | |
i) As of February 28, 2014, the Company had a payable to a related party for $32,789 which is unsecured and due on demand. | |
ii) During the nine month period, the Company expensed management fees for $70,352 (CAD $76,975) to two directors of the Company of which an amount of $nil is unpaid. |
Segment_Information
Segment Information | 9 Months Ended |
Feb. 28, 2015 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | NOTE 5 – SEGMENT INFORMATION |
As at February 28, 2015, the Company operated only in one reportable segment. All assets of the business are located in Canada. |
Capital_Management
Capital Management | 9 Months Ended |
Feb. 28, 2015 | |
Capital Management [Abstract] | |
CAPITAL MANAGEMENT | NOTE 6 – CAPITAL MANAGEMENT |
The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to maintain its daily operations. The Board of Directors does not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company's management to sustain the future development of the business. | |
The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to procure materials and pay for administrative costs, the Company will generate sales, spend its existing working capital on need basis and raise additional unsecured loan amounts as needed. | |
Management reviews its capital management approach on an ongoing basis and believes that this approach, given the foregoing paragraph and the relative size of the Company, is reasonable. |
Capital_Stock
Capital Stock | 9 Months Ended | ||||||||||||
Feb. 28, 2015 | |||||||||||||
Capital Stock [Abstract] | |||||||||||||
CAPITAL STOCK | NOTE 7 – CAPITAL STOCK | ||||||||||||
Authorized: | |||||||||||||
Common Stock: The Company has 250,000,000 shares of $0.0001 par value | |||||||||||||
Issued and outstanding: | |||||||||||||
Number | Additional | ||||||||||||
of | Paid | ||||||||||||
Common | Capital | In | |||||||||||
shares | Stock | Capital | |||||||||||
$ | |||||||||||||
Balance as at May 31, 2013 | 200 | 200 | |||||||||||
Balance as at May 31, 2014 (audited) | 200 | 200 | |||||||||||
Effect of reverse acquisition, January 8, 2015 (i) | 100,132,932 | 9,813 | |||||||||||
Exercise of stock warrants (ii) | 66,666 | 7 | 9,993 | ||||||||||
Balance as at February 28, 2015 | 100,199,798, | 10,020 | 9,993 | ||||||||||
(i) On January 8, 2015, Perk International, Inc., a Nevada corporation (the “Company”), entered into a Share Exchange Agreement (the “Exchange Agreement”) with Tech 9 Inc., a privately held company incorporated under the laws of the Province of Ontario (“Tech 9”), and the shareholders of Tech 9. In accordance with the terms of the Exchange Agreement, at the closing an aggregate of 70,000,000 shares of the Company’s common stock were issued to the holders of Tech 9’s common stock in exchange for their shares of Tech 9. | |||||||||||||
Immediately subsequent to the Exchange, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Conveyance Agreement”) with the prior officers and directors. Pursuant to the Conveyance Agreement, the Company transferred all assets and business operations associated with the daily deals/coupons business to its prior officers and directors. In exchange, they agreed to cancel their collective 45,000,000 shares in the company and to assume and cancel all liabilities relating to our former business. | |||||||||||||
As a result of the share exchange, Tech9 has become a wholly-owned subsidiary of the Registrant and the Registrant issued shares of its common stock to shareholders of Tech9 at rate of 350,000 shares of the Registrant’s common stock for each Tech9 common share resulting in issue of a total of 70,000,000 common shares. Immediately prior to the share exchange, the Registrant had 75,133,132 shares of common stock outstanding. | |||||||||||||
Following the share exchange and the issuance of 70,000,000 common shares to the shareholders of Tech9, the Registrant had 145,133,132 shares of common stock outstanding. At closing, the Registrant cancelled 45,000,000 common shares of the Registrant in accordance with the Transfer and Assumption Agreement between the Registrant and shareholders of the Registrant. Following the share exchange and the Transfer and Assumption Agreement, the Registrant had 100,133,132 shares of common stock outstanding. | |||||||||||||
(ii) On February 17, 2015, 66,666 warrants were exercised at $0.15 per share resulting in 66,666 shares of common stock issued for $10,000 in cash. | |||||||||||||
Warrants | |||||||||||||
The Company issued 30,000,000 stock warrants in connection with the issuance of common stock. The Company has accounted for these warrants as equity instruments in accordance with ASC 815-40, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock, and as such, will be classified in stockholders’ equity as they meet the definition of “indexed to the issuer’s stock” in ASC 815-40. The Company has estimated the allocated fair value of the warrants issued in connection with the private placement at $6,143 as of the grant dates using the Black-Scholes option pricing model. Each common stock purchase warrant has an exercise price of $0.25 and will expire on September 30, 2017. | |||||||||||||
On April 3, 2014 the exercise price for all the outstanding warrants was revised from $0.25 to $0.15 per share. The warrants were revalued on that date and the change in value was trivial and deemed immaterial so no adjustment was recorded. | |||||||||||||
During the year ended May 31, 2014, 66,666 warrants were exercised at $0.15 per share, resulting in 66,666 shares of common stock being issued for $10,000 in cash. | |||||||||||||
During the fiscal quarter ended August 31, 2014, 46,666 warrants were exercised at $0.15 per share, resulting in 46,666 shares of common stock being issued for $7,000 in cash. | |||||||||||||
During the fiscal quarter ended November 30, 2014, 23,333 warrants were exercised at $0.15 per share, resulting in 23,333 shares of common stock being issued for $3,000 in cash and a receivable of $500. | |||||||||||||
During the fiscal quarter ended February 28, 2015, 66,666 warrants were exercised at $0.15 per share, resulting in 66,666 shares of common stock being issued for $10,000 in cash. | |||||||||||||
There are 29,796,669 stock warrants remaining as of February 28, 2015. The remaining warrants will expire on September 30, 2017. | |||||||||||||
The following table presents warrant activity since inception: | |||||||||||||
Number of Warrants | Weighted Average Exercise Price | ||||||||||||
April 10, 2013, Inception | - | $ | - | ||||||||||
Granted | - | - | |||||||||||
Exercised | - | - | |||||||||||
Cancelled or Expired | - | - | |||||||||||
31-May-13 | - | $ | - | ||||||||||
Granted | 30,000,000 | 0.15 | |||||||||||
Exercised | (66,666 | ) | (0.15 | ) | |||||||||
Cancelled or Expired | - | - | |||||||||||
31-May-14 | 29,933,334 | $ | 0.15 | ||||||||||
Granted | - | - | |||||||||||
Exercised | (136,665 | ) | (0.15 | ) | |||||||||
Cancelled or Expired | - | - | |||||||||||
28-Feb-15 | 29,796,669 | $ | 0.15 |
Plant_and_Equipment
Plant and Equipment | 9 Months Ended | ||||||||||||
Feb. 28, 2015 | |||||||||||||
Plant and Equipment [Abstract] | |||||||||||||
PLANT AND EQUIPMENT | NOTE 8 – PLANT AND EQUIPMENT | ||||||||||||
28-Feb-15 | |||||||||||||
Net | |||||||||||||
Accumulated | Carrying | ||||||||||||
Cost | Amortization | Value | |||||||||||
Computer equipment | $ | 78,885 | $ | 5,995 | $ | 72,890 | |||||||
78,885 | 5,995 | 72,890 | |||||||||||
Less: Impairment adjustment | (35,512 | ) | (35,512 | ) | |||||||||
$ | 43,373 | $ | 5,995 | $ | 37,378 | ||||||||
The Company did not own any property and equipment as of May 31, 2014. |
Shareholder_Loans
Shareholder Loans | 9 Months Ended |
Feb. 28, 2015 | |
Shareholder Loans [Abstract] | |
SHAREHOLDER LOANS | NOTE 3 – SHAREHOLDER LOANS |
During the year ended May 31, 2014, a shareholder advanced the Company $3,752. During the quarter ended August 31, 2014, the shareholder advanced an additional $197. The loans are unsecured, bear interest at 8% and are due in one year. The Company has accrued interest of $366 on the outstanding balance as of November 30, 2014. | |
Term_Loan
Term Loan | 9 Months Ended |
Feb. 28, 2015 | |
Term Loan [Abstract] | |
TERM LOAN | NOTE 9 – TERM LOAN |
On July 24, 2013 the Company obtained a term loan for an amount of CAD $18,800 repayable in 59 monthly installments of CAD $367.63 including interest and principal and bears interest at 6.5% per annum (prime plus 3.5% per annum). The loan is secured by a personal guarantee of a director. The current and non-current portion of the term loan as at February 28, 2015 is $2,776 ($3,202 – 2014) and $8,000 ($11,597 – 2014) respectively. | |
Due_to_NonRelated_Parties
Due to Non-Related Parties | 9 Months Ended |
Feb. 28, 2015 | |
Due To Non Related Party [Abstract] | |
Due to non related party | NOTE 10- DUE TO NON- RELATED PARTIES |
$39,991 (CAD $50,000): The Company took a loan from a non related party for $ 39,991 (CAD $50,000) during the quarter ended February 28, 2015. This loan has a collateral security on the stock of the Company, carries an annual interest rate of 12% and is repayable in 90 days. | |
$20,501 (CAD $25,633): The Company took a loan from a non related party for $27,993 (CAD $35,000) during the quarter ended February 28, 2015. This loan is unsecured, carries an annual interest rate of 56.855% with a term of 6 months and requires repayment of CAD $319 every business day. | |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Feb. 28, 2015 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 11- COMMITMENTS AND CONTINGENCIES |
COMMITMENTS | |
a) Effective May 1, 2013, and subsequent amendment dated February 20, 2015, the Company executed agreements with its director to pay annual compensation as follows: | |
For the year ended 2015, the Executive shall be compensated as follows: | |
1. The executive shall receive US $21,694 (CAD $23,500) for June 1, 2014 through August 31, 2014. | |
2. The executive shall receive CAD $164,500 from September 1, 2014 through May 31, 2015. | |
2. The executive shall receive a sales bonus based on annual net sales for Tech9 Inc. at the rate of 1.5%. | |
For the year ended 2016, the Executive shall be compensated as follows: | |
1. The executive shall receive CAD $225,000 for June 1, 2015 through May 31, 2016 | |
2. The executive shall receive a sales bonus based on annual net sales for Tech9 Inc. at the rate of 1.5% | |
b) Effective May 1, 2013, and subsequent amendment dated February 20, 2015, the Company executed agreements with its director to pay annual compensation as follows: | |
For the year ended 2015, the Executive shall be compensated as follows: | |
1. The executive shall receive US $24,298 (CAD $26,320) for June 1, 2014 through August 31, 2014. | |
2. The executive shall receive CAD $161,680 from September 1, 2014 through May 31, 2015. | |
2. The executive shall receive a sales bonus based on annual net sales for Tech9 Inc. at the rate of 1.5%. | |
For the year ended 2016, the Executive shall be compensated as follows: | |
1. The executive shall receive CAD $225,000 for June 1, 2015 through May 31, 2016 | |
2. The executive shall receive a sales bonus based on annual net sales for Tech9 Inc. at the rate of 1.5% | |
CONTINGENCIES | |
On January 8, 2015, Perk International, Inc., a Nevada corporation (the “Company”), entered into a Share Exchange Agreement (the “Exchange Agreement”) with Tech 9 Inc., a privately held company incorporated under the laws of the Province of Ontario (“Tech 9”), and the shareholders of Tech 9. In accordance with the terms of the Exchange Agreement, at the closing an aggregate of 70,000,000 shares of the Company’s common stock were issued to the holders of Tech 9’s common stock in exchange for their shares of Tech 9. Immediately subsequent to the Exchange, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Conveyance Agreement”) with the prior officers and directors. Pursuant to the Conveyance Agreement, the Company transferred all assets and business operations associated with the daily deals/coupons business to its prior officers and directors. In exchange, they agreed to cancel their collective 45,000,000 shares in the company and to assume and cancel all liabilities relating to our former business. The liabilities assumed by the prior officers and directors amounts to $22,985 which if not discharged, may result in a potential liability on the Company. | |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments and Risk Factors | 9 Months Ended | ||||||||
Feb. 28, 2015 | |||||||||
Fair Value of Financial Instruments and Risk Factors [Abstract] | |||||||||
FAIR VALUE OF FINANCIAL INSTRUMENTS AND RISK FACTORS | NOTE 12- FAIR VALUE OF FINANCIAL INSTRUMENTS AND RISK FACTORS | ||||||||
The fair value of a financial instrument is the estimated amount that the Company would receive or pay to settle the financial assets and financial liabilities as at the balance sheet date. The book value of accounts receivable, accounts payable and accrued liabilities, and due to related party approximate fair values at the balance sheet dates. | |||||||||
All financial instruments except for cash are classified as level 3. Cash is classified as level 1. | |||||||||
28-Feb-15 | |||||||||
Assets/Liabilities | Carrying Value | Fair Value | |||||||
Cash | $ | - | $ | - | |||||
Accounts Receivable | $ | 76,343 | $ | 76,343 | |||||
Due to related party | $ | 22,790 | $ | 22,790 | |||||
Due to non-related party | $ | 60,492 | $ | 60,492 | |||||
Accounts payable and accrued liabilities | $ | 327,813 | $ | 327,813 | |||||
Bank indebtness | $ | 5,408 | $ | 5,408 | |||||
31-May-14 | |||||||||
Assets/Liabilities | Carrying Value | Fair Value | |||||||
Cash | $ | 34,089 | $ | 34,089 | |||||
Accounts Receivable | $ | 155,141 | $ | 155,141 | |||||
Accounts payable and accrued liabilities | $ | 202,889 | $ | 202,889 | |||||
Income tax payable | $ | - | $ | - | |||||
Customer deposit | $ | 92,234 | $ | 92,234 | |||||
Due to related parties | $ | 21,181 | $ | 21,181 | |||||
Interest rate risk | |||||||||
The Company’s exposure to interest rate fluctuations is not significant. | |||||||||
Credit risk | |||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. The Company is not exposed to material losses on its accounts receivable and future revenues. The Company mitigates its credit risk by performing credit checks on new customers before extending credit. | |||||||||
Liquidity risk | |||||||||
The Company’s exposure to liquidity risk is dependent on the collection of accounts receivable and the ability to raise funds to meet purchase commitments and to sustain operations. The company controls its liquidity risk by managing working capital and cash flows. | |||||||||
Foreign currency risk | |||||||||
The Company is exposed to foreign currency risk as substantially all of the Company’s cash is denominated in Canadian Dollars being the Company’s functional currency. This risk is partially mitigated by the fact that all costs associated with running of the Company are incurred in Canadian Dollars. | |||||||||
Reverse_Merger_Transaction_and1
Reverse Merger Transaction and Accounting (Tables) | 9 Months Ended | ||
Feb. 28, 2015 | |||
Reverse Merger Transaction And Accounting [Abstract] | |||
Schedule of reverse merger transaction and accounting | Shares: | Held By: | |
70,000,000 | Tech 9 Shareholders | ||
30,133,132 | Existing Company Shareholders |
Capital_Stock_Tables
Capital Stock (Tables) | 9 Months Ended | ||||||||||||
Feb. 28, 2015 | |||||||||||||
Capital Stock [Abstract] | |||||||||||||
Schedule of common stock issued and outstanding | Number | Additional | |||||||||||
of | Paid | ||||||||||||
Common | Capital | In | |||||||||||
shares | Stock | Capital | |||||||||||
$ | |||||||||||||
Balance as at May 31, 2013 | 200 | 200 | |||||||||||
Balance as at May 31, 2014 (audited) | 200 | 200 | |||||||||||
Effect of reverse acquisition, January 8, 2015 (i) | 100,132,932 | 9,813 | |||||||||||
Exercise of stock warrants (ii) | 66,666 | 7 | 9,993 | ||||||||||
Balance as at February 28, 2015 | 100,199,798, | 10,020 | 9,993 | ||||||||||
(i) On January 8, 2015, Perk International, Inc., a Nevada corporation (the “Company”), entered into a Share Exchange Agreement (the “Exchange Agreement”) with Tech 9 Inc., a privately held company incorporated under the laws of the Province of Ontario (“Tech 9”), and the shareholders of Tech 9. In accordance with the terms of the Exchange Agreement, at the closing an aggregate of 70,000,000 shares of the Company’s common stock were issued to the holders of Tech 9’s common stock in exchange for their shares of Tech 9. | |||||||||||||
Immediately subsequent to the Exchange, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Conveyance Agreement”) with the prior officers and directors. Pursuant to the Conveyance Agreement, the Company transferred all assets and business operations associated with the daily deals/coupons business to its prior officers and directors. In exchange, they agreed to cancel their collective 45,000,000 shares in the company and to assume and cancel all liabilities relating to our former business. | |||||||||||||
As a result of the share exchange, Tech9 has become a wholly-owned subsidiary of the Registrant and the Registrant issued shares of its common stock to shareholders of Tech9 at rate of 350,000 shares of the Registrant’s common stock for each Tech9 common share resulting in issue of a total of 70,000,000 common shares. Immediately prior to the share exchange, the Registrant had 75,133,132 shares of common stock outstanding. | |||||||||||||
Following the share exchange and the issuance of 70,000,000 common shares to the shareholders of Tech9, the Registrant had 145,133,132 shares of common stock outstanding. At closing, the Registrant cancelled 45,000,000 common shares of the Registrant in accordance with the Transfer and Assumption Agreement between the Registrant and shareholders of the Registrant. Following the share exchange and the Transfer and Assumption Agreement, the Registrant had 100,133,132 shares of common stock outstanding. | |||||||||||||
(ii) On February 17, 2015, 66,666 warrants were exercised at $0.15 per share resulting in 66,666 shares of common stock issued for $10,000 in cash. | |||||||||||||
Summary of warrant activity | Number of Warrants | Weighted Average Exercise Price | |||||||||||
April 10, 2013, Inception | - | $ | - | ||||||||||
Granted | - | - | |||||||||||
Exercised | - | - | |||||||||||
Cancelled or Expired | - | - | |||||||||||
31-May-13 | - | $ | - | ||||||||||
Granted | 30,000,000 | 0.15 | |||||||||||
Exercised | (66,666 | ) | (0.15 | ) | |||||||||
Cancelled or Expired | - | - | |||||||||||
31-May-14 | 29,933,334 | $ | 0.15 | ||||||||||
Granted | - | - | |||||||||||
Exercised | (136,665 | ) | (0.15 | ) | |||||||||
Cancelled or Expired | - | - | |||||||||||
28-Feb-15 | 29,796,669 | $ | 0.15 |
Plant_and_Equipment_Tables
Plant and Equipment (Tables) | 9 Months Ended | ||||||||||||
Feb. 28, 2015 | |||||||||||||
Plant and Equipment [Abstract] | |||||||||||||
Schedule of plant and equipment | Net | ||||||||||||
Accumulated | Carrying | ||||||||||||
Cost | Amortization | Value | |||||||||||
Computer equipment | $ | 78,885 | $ | 5,995 | $ | 72,890 | |||||||
78,885 | 5,995 | 72,890 | |||||||||||
Less: Impairment adjustment | (35,512 | ) | (35,512 | ) | |||||||||
$ | 43,373 | $ | 5,995 | $ | 37,378 | ||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments and Risk Factors (Tables) | 9 Months Ended | ||||||||
Feb. 28, 2015 | |||||||||
Fair Value of Financial Instruments and Risk Factors [Abstract] | |||||||||
Schedule of the financial assets and financial liabilities as at the balance sheet date | 28-Feb-15 | ||||||||
Assets/Liabilities | Carrying Value | Fair Value | |||||||
Cash | $ | - | $ | - | |||||
Accounts Receivable | $ | 76,343 | $ | 76,343 | |||||
Due to related party | $ | 22,790 | $ | 22,790 | |||||
Due to non-related party | $ | 60,492 | $ | 60,492 | |||||
Accounts payable and accrued liabilities | $ | 327,813 | $ | 327,813 | |||||
Bank indebtness | $ | 5,408 | $ | 5,408 | |||||
31-May-14 | |||||||||
Assets/Liabilities | Carrying Value | Fair Value | |||||||
Cash | $ | 34,089 | $ | 34,089 | |||||
Accounts Receivable | $ | 155,141 | $ | 155,141 | |||||
Accounts payable and accrued liabilities | $ | 202,889 | $ | 202,889 | |||||
Income tax payable | $ | - | $ | - | |||||
Customer deposit | $ | 92,234 | $ | 92,234 | |||||
Due to related parties | $ | 21,181 | $ | 21,181 | |||||
Reverse_Merger_Transaction_and2
Reverse Merger Transaction and Accounting (Details) | 9 Months Ended |
Feb. 28, 2015 | |
Tech 9 Shareholders [Member] | |
Related Party Transaction [Line Items] | |
Shares outstanding | 70,000,000 |
Existing Company Shareholders [Member] | |
Related Party Transaction [Line Items] | |
Shares outstanding | 30,133,132 |
Reverse_Merger_Transaction_and3
Reverse Merger Transaction and Accounting (Details Textual) | 0 Months Ended | 9 Months Ended | |
Jan. 08, 2015 | Feb. 28, 2015 | 31-May-14 | |
Reverse Merger Transaction And Accounting (Textual) | |||
Common stock, shares outstanding | 100,199,798 | 200 | |
Tech 9 Shareholders [Member] | |||
Reverse Merger Transaction And Accounting (Textual) | |||
Number of shares issued | 70,000,000 | ||
Common stock, shares outstanding | 145,133,132 | ||
Business acquisition, percentage of voting interests acquired | 53.80% | ||
Shares outstanding | 70,000,000 | ||
Common Stock [Member] | Tech 9 Shareholders [Member] | |||
Reverse Merger Transaction And Accounting (Textual) | |||
Number of shares issued | 350,000 | ||
Common stock, shares outstanding | 75,133,132 | ||
Exchange Agreement [Member] | |||
Reverse Merger Transaction And Accounting (Textual) | |||
Number of shares issued | 70,000,000 | ||
Cancelation of shares | 45,000,000 | ||
Common stock, shares outstanding | 75,133,132 | ||
Shares outstanding | 100,133,132 | ||
Conveyance Agreement [Member] | |||
Reverse Merger Transaction And Accounting (Textual) | |||
Cancelation of shares | 45,000,000 | ||
Assumption Agreement [Member] | |||
Reverse Merger Transaction And Accounting (Textual) | |||
Cancelation of shares | 45,000,000 | ||
Common stock, shares outstanding | 100,133,132 | ||
Warrant outstanding | 29,866,668 |
Going_Concern_Details
Going Concern (Details) (USD $) | Feb. 28, 2015 | 31-May-14 |
Going Concern [Textual] | ||
Accumulated Deficit | $376,778 | $142,572 |
Bank indebtedness | 5,408 | |
Working capital deficit | $342,936 |
Related_Party_Transactions_Det
Related Party Transactions (Details) | Feb. 28, 2015 | 31-May-14 | Feb. 28, 2014 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2014 | Feb. 28, 2014 |
USD ($) | USD ($) | USD ($) | Director [Member] | Director [Member] | Director [Member] | Director [Member] | |
USD ($) | CAD | USD ($) | CAD | ||||
Director | Director | ||||||
Related Party Transactions (Textual) | |||||||
Due to related party | $22,790 | $21,181 | $32,789 | ||||
Management fees | 235,200 | 267,072 | 70,352 | 76,975 | |||
Accounts payable and accrued liabilities | $327,813 | $202,889 | $120,477 | ||||
Number of directors | 2 | 2 | 2 | 2 |
Segment_Information_Details
Segment Information (Details) | 9 Months Ended |
Feb. 28, 2015 | |
Segment | |
Segment Information (Textuals) | |
Number of reportable segment | 1 |
Capital_Stock_Details
Capital Stock (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
Feb. 28, 2015 | 31-May-14 | 31-May-13 | ||
Beginning Balance | $30,967 | |||
Ending Balance | -313,558 | -141,873 | 30,967 | |
Number of Common shares | ||||
Beginning Balance | 200 | 200 | ||
Beginning Balance, Shares | 200 | 200 | ||
Effect of reverse acquisition, January 8, 2015 | 9,813 | [1] | ||
Effect of reverse acquisition, January 8, 2015, Shares | 100,132,932 | [1] | ||
Exercise of stock warrants | 7 | [2] | ||
Exercised, Number of Warrants | 66,666 | [2] | ||
Ending Balance | 10,020 | 200 | ||
Ending Balance, Shares | 100,199,798 | 200 | ||
Additional Paid In Capital | ||||
Exercise of stock warrants | 9,993 | [2] | ||
Ending Balance | $9,993 | |||
[1] | On January 8, 2015, Perk International, Inc., a Nevada corporation (the "Company"), entered into a Share Exchange Agreement (the "Exchange Agreement") with Tech 9 Inc., a privately held company incorporated under the laws of the Province of Ontario ("Tech 9"), and the shareholders of Tech 9. In accordance with the terms of the Exchange Agreement, at the closing an aggregate of 70,000,000 shares of the Company's common stock were issued to the holders of Tech 9's common stock in exchange for their shares of Tech 9. Immediately subsequent to the Exchange, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the "Conveyance Agreement") with the prior officers and directors. Pursuant to the Conveyance Agreement, the Company transferred all assets and business operations associated with the daily deals/coupons business to its prior officers and directors. In exchange, they agreed to cancel their collective 45,000,000 shares in the company and to assume and cancel all liabilities relating to our former business. As a result of the share exchange, Tech9 has become a wholly-owned subsidiary of the Registrant and the Registrant issued shares of its common stock to shareholders of Tech9 at rate of 350,000 shares of the Registrant's common stock for each Tech9 common share resulting in issue of a total of 70,000,000 common shares. Immediately prior to the share exchange, the Registrant had 75,133,132 shares of common stock outstanding. Following the share exchange and the issuance of 70,000,000 common shares to the shareholders of Tech9, the Registrant had 145,133,132 shares of common stock outstanding. At closing, the Registrant cancelled 45,000,000 common shares of the Registrant in accordance with the Transfer and Assumption Agreement between the Registrant and shareholders of the Registrant. Following the share exchange and the Transfer and Assumption Agreement, the Registrant had 100,133,132 shares of common stock outstanding. | |||
[2] | On February 17, 2015, 66,666 warrants were exercised at $0.15 per share resulting in 66,666 shares of common stock issued for $10,000 in cash. |
Capital_Stock_Details_1
Capital Stock (Details 1) (Warrant [Member], USD $) | 2 Months Ended | 9 Months Ended | 12 Months Ended |
31-May-13 | Feb. 28, 2015 | 31-May-14 | |
Warrant [Member] | |||
Number of Warrants | |||
Beginning Balance | 29,933,334 | ||
Granted | 30,000,000 | ||
Exercised | -136,665 | -66,666 | |
Cancelled or Expired | |||
Ending Balance | 29,796,669 | 29,933,334 | |
Weighted Average Exercise Price | |||
Beginning Balance | $0.15 | ||
Granted | $0.15 | ||
Exercised | ($0.15) | ($0.15) | |
Cancelled or Expired | |||
Ending Balance | $0.15 | $0.15 |
Capital_Stock_Details_Textual
Capital Stock (Details Textual) (USD $) | 0 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | |||
Jan. 08, 2015 | Feb. 28, 2015 | 31-May-14 | Feb. 17, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | Apr. 03, 2014 | 31-May-13 | Apr. 10, 2013 | ||
Capital Stock (Textual) | ||||||||||
Common stock, par value | 0.0001 | 0.0001 | ||||||||
Common stock, shares authorized | 250,000,000 | 250,000,000 | ||||||||
Common stock, shares outstanding | 100,199,798 | 200 | ||||||||
Tech 9 Shareholders [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Number of shares issued | 70,000,000 | |||||||||
Common stock, shares outstanding | 145,133,132 | |||||||||
Common Stock [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Exercised, Number of Warrants | 66,666 | [1] | ||||||||
Common Stock [Member] | Tech 9 Shareholders [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Number of shares issued | 350,000 | |||||||||
Common stock, shares outstanding | 75,133,132 | |||||||||
Warrant [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Exercise price of warrants | 0.15 | 0.15 | $0.15 | $0.15 | $0.15 | |||||
Exercised, Number of Warrants | 66,666 | 66,666 | 66,666 | 23,333 | 46,666 | |||||
Common stock issued from exercise of warrants, shares | 66,666 | 66,666 | 66,666 | 23,333 | 46,666 | |||||
Gross proceeds resulting common stock issued from exercise of warrants | 66,666 | 10,000 | $10,000 | $3,000 | $7,000 | |||||
Common stock issued, shares | 30,000,000 | |||||||||
Investment warrants expiration date | 30-Sep-17 | |||||||||
Receivables | 500 | |||||||||
Number of warrants outstanding | 29,796,669 | 29,933,334 | ||||||||
Warrant [Member] | Maximum [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Exercise price of warrants | $0.25 | |||||||||
Warrant [Member] | Minimum [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Exercise price of warrants | $0.15 | |||||||||
Warrant [Member] | Private Placement [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Exercise price of warrants | 0.25 | |||||||||
Gross proceeds resulting common stock issued from exercise of warrants | 6,143,000 | |||||||||
Investment warrants expiration date | 30-Sep-17 | |||||||||
Exchange Agreement [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Number of shares issued | 70,000,000 | |||||||||
Cancelation of shares | 45,000,000 | |||||||||
Common stock, shares outstanding | 75,133,132 | |||||||||
Conveyance Agreement [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Cancelation of shares | 45,000,000 | |||||||||
Assumption Agreement [Member] | ||||||||||
Capital Stock (Textual) | ||||||||||
Cancelation of shares | 45,000,000 | |||||||||
Common stock, shares outstanding | 100,133,132 | |||||||||
[1] | On February 17, 2015, 66,666 warrants were exercised at $0.15 per share resulting in 66,666 shares of common stock issued for $10,000 in cash. |
Plant_and_Equipment_Details
Plant and Equipment (Details) (USD $) | Feb. 28, 2015 |
Plant and Equipment (Textual) | |
Accumulated Cost | $43,373 |
Net Carrying Amortization | 5,995 |
Property, plant and equipment, Value | 37,378 |
Computer Equipment [Member] | |
Plant and Equipment (Textual) | |
Accumulated Cost | 78,885 |
Net Carrying Amortization | 5,995 |
Property, plant and equipment, Value | 72,890 |
Plant and Equipment Gross [Member] | |
Plant and Equipment (Textual) | |
Accumulated Cost | 78,885 |
Net Carrying Amortization | 5,995 |
Property, plant and equipment, Value | 72,890 |
Impairment Adjustment [Member] | |
Plant and Equipment (Textual) | |
Accumulated Cost | -35,512 |
Property, plant and equipment, Value | ($35,512) |
Term_Loan_Details
Term Loan (Details) | 0 Months Ended | ||
Jul. 24, 2013 | Feb. 28, 2015 | 31-May-14 | |
CAD | USD ($) | USD ($) | |
Term Loan [Abstract] | |||
Term loan | 18,800 | ||
Debt instrument monthly interest | 59 monthly installments | ||
Repayments of debt | 367.63 | ||
Principal and bears interest | 6.50% | ||
Debt instrument prime plus rate | 3.50% | ||
Term loan current | 2,776 | 3,202 | |
Term loan non current | $8,000 | $11,597 |
Due_to_NonRelated_Parties_Deta
Due to Non-Related Parties (Details) | 0 Months Ended | 3 Months Ended | |||||
Jul. 24, 2013 | Feb. 28, 2015 | 31-May-14 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | |
CAD | USD ($) | USD ($) | Loan repayable in 90 days [Member] | Loan repayable in 90 days [Member] | Term of 6 months [Member] | Term of 6 months [Member] | |
USD ($) | CAD | CAD | USD ($) | ||||
Short-term Debt [Line Items] | |||||||
Due to non-related parties, Carrying value | $60,492 | $39,991 | 50,000 | 25,633 | $20,501 | ||
Loan payable to non related party | 39,991 | 50,000 | 35,000 | 27,993 | |||
Annual interest rate | 12.00% | 12.00% | 56.86% | ||||
Loan repayment | 367.63 | 319 | |||||
Loan repayable period | 90 days | 90 days | 6 months |
Commitments_and_ContingenciesD
Commitments and Contingencies(Details) | 0 Months Ended | 9 Months Ended | ||||||||
Jan. 08, 2015 | Jan. 08, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | Feb. 28, 2015 | |
Exchange Agreement [Member] | Conveyance Agreement [Member] | Compensation Commitments One [Member] | Compensation Commitments One [Member] | Compensation Commitments One [Member] | Compensation Commitments One [Member] | Compensation Commitments Two [Member] | Compensation Commitments Two [Member] | Compensation Commitments Two [Member] | Compensation Commitments Two [Member] | |
USD ($) | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | Director [Member] | ||
June 1, 2014 through August 31, 2014 [Member] | June 1, 2014 through August 31, 2014 [Member] | September 1, 2014 through May 31, 2015 [Member] | June 1, 2015 through May 31, 2016 [Member] | June 1, 2014 through August 31, 2014 [Member] | June 1, 2014 through August 31, 2014 [Member] | September 1, 2014 through May 31, 2015 [Member] | June 1, 2015 through May 31, 2016 [Member] | |||
USD ($) | CAD | CAD | CAD | USD ($) | CAD | CAD | CAD | |||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||||
Annual compensation | $21,694 | 23,500 | 164,500 | 225,000 | $24,298 | 26,320 | 161,680 | 225,000 | ||
Percentage of annual bonus | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | ||
Common stock issued, based on agreement | 70,000,000 | |||||||||
Collective shares to assume and cancel all liabilities relating to our former business | 45,000,000 | 45,000,000 | ||||||||
Liabilities assumed by the prior officers and directors | $22,985 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments and Risk Factors (Details) (USD $) | Feb. 28, 2015 | 31-May-14 | Feb. 28, 2014 | 31-May-13 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Cash, Carrying value | $34,089 | $12,873 | ||
Accounts receivable, Carrying value | 76,343 | 155,141 | ||
Due to related party, Carrying value | 22,790 | 21,181 | 32,789 | |
Due to non-related parties, Carrying value | 60,492 | |||
Accounts payable and accrued liabilities, Carrying value | 327,813 | 202,889 | ||
Income tax payable, Carrying value | ||||
Customer deposit, Carrying value | 92,234 | |||
Bank indebtedness, Carrying value | 5,408 | |||
Cash, Fair value | 34,089 | |||
Accounts Receivable, Fair value | 76,343 | 155,141 | ||
Due to related party, Fair value | 22,790 | 21,181 | ||
Due to non-related party, Fair Value | 60,492 | |||
Accounts payable and accrued liabilities, Fair value | 327,813 | 202,889 | ||
Bank indebtness, Fair Value | 5,408 | |||
Income tax payable, Fair Value | ||||
Customer deposit, Fair Value | $92,234 |