Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Apr. 30, 2014 | Jun. 06, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'TRAVELSAFE, INC. | ' |
Entity Central Index Key | '0001582589 | ' |
Current Fiscal Year End Date | '--07-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'TRVS | ' |
Entity Common Stock, Shares Outstanding | ' | 5,950,000 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Apr-14 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2014 | ' |
CONDENSED_BALANCE_SHEETS
CONDENSED BALANCE SHEETS (USD $) | Apr. 30, 2014 | Jul. 31, 2013 |
Current assets | ' | ' |
Cash | $21,311 | $86,475 |
Prepaid expenses | 7,892 | ' |
Total assets | 29,203 | 86,475 |
Current liabilities | ' | ' |
Loan payable from related party | 4,333 | 4,208 |
Total liabilities | 4,333 | 4,208 |
Commitments and Contingencies | ' | ' |
Stockholders' equity | ' | ' |
Preferred stock, $0.00001 par value; 10,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock, $0.00001 par value; 250,000,000 shares authorized, 5,950,000 and 5,950,000 shares issued and outstanding, respectively | 60 | 60 |
Additional paid-in capital | 107,315 | 93,815 |
Deficit accumulated during the development stage | -82,505 | -11,608 |
Total stockholders' equity | 24,870 | 82,267 |
Total liabilities and stockholders' equity | $29,203 | $86,475 |
CONDENSED_BALANCE_SHEETS_Paren
CONDENSED BALANCE SHEETS [Parenthetical] (USD $) | Apr. 30, 2014 | Jul. 31, 2013 |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, authorized | 250,000,000 | 250,000,000 |
Common stock, issued | 5,950,000 | 5,950,000 |
Common stock, outstanding | 5,950,000 | 5,950,000 |
CONDENSED_STATEMENTS_OF_OPERAT
CONDENSED STATEMENTS OF OPERATIONS (USD $) | 2 Months Ended | 3 Months Ended | 9 Months Ended | 14 Months Ended |
Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | |
Operating expenses | ' | ' | ' | ' |
Professional fees | $3,789 | $13,568 | $56,152 | $59,941 |
Compensation | 3,000 | 4,500 | 13,500 | 21,000 |
General and administrative | 319 | 281 | 1,245 | 1,564 |
Total operating expenses | 7,108 | 18,349 | 70,897 | 82,505 |
LOSS FROM OPERATIONS BEFORE INCOME TAXES | -7,108 | -18,349 | -70,897 | -82,505 |
Provision for Income Taxes | 0 | 0 | 0 | 0 |
NET LOSS | ($7,108) | ($18,349) | ($70,897) | ($82,505) |
Net Loss Per Share - Basic and Diluted (in dollars per share) | $0 | $0 | ($0.01) | ' |
Weighted average number of shares outstanding during the period - Basic and Diluted (in shares) | 5,000,000 | 5,950,000 | 5,950,000 | ' |
CONDENSED_STATEMENTS_OF_CHANGE
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit during Development Stage [Member] |
Balance at Mar. 06, 2013 | $0 | $0 | $0 | $0 | $0 |
Balance (in shares) at Mar. 06, 2013 | ' | 0 | 0 | ' | ' |
Founder common stock issued for cash ($.00001/share) | 50 | 0 | 50 | 0 | 0 |
Founder common stock issued for cash ($.00001/share) (in shares) | ' | 0 | 5,000,000 | ' | ' |
Common stock issued for cash ($.10/share), net of fees of $8,675 | 86,325 | 0 | 10 | 86,315 | 0 |
Common stock issued for cash ($.10/share), net of fees of $8,675 (in shares) | ' | 0 | 950,000 | ' | ' |
In kind contribution of services | 7,500 | 0 | 0 | 7,500 | 0 |
Net loss | -11,608 | 0 | 0 | 0 | -11,608 |
Balance at Jul. 31, 2013 | 82,267 | 0 | 60 | 93,815 | -11,608 |
Balance (in shares) at Jul. 31, 2013 | ' | 0 | 5,950,000 | ' | ' |
In kind contribution of services | 13,500 | 0 | 0 | 13,500 | 0 |
Net loss | -70,897 | 0 | 0 | 0 | -70,897 |
Balance at Apr. 30, 2014 | $24,870 | $0 | $60 | $107,315 | ($82,505) |
Balance (in shares) at Apr. 30, 2014 | ' | 0 | 5,950,000 | ' | ' |
CONDENSED_STATEMENTS_OF_CHANGE1
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Parenthetical] (USD $) | 5 Months Ended |
Jul. 31, 2013 | |
Stock issued to founders value per share | $0.00 |
Development stage entities, Equity issuance, Per share amount | $0.10 |
Stock issuance fee (in dollars) | $8,675 |
CONDENSED_STATEMENT_OF_CASH_FL
CONDENSED STATEMENT OF CASH FLOWS (USD $) | 2 Months Ended | 5 Months Ended | 9 Months Ended | 14 Months Ended |
Apr. 30, 2013 | Jul. 31, 2013 | Apr. 30, 2014 | Apr. 30, 2014 | |
Cash Flows From Operating Activities: | ' | ' | ' | ' |
Net loss | ($7,108) | ($11,608) | ($70,897) | ($82,505) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | ' |
In kind contribution of services | 3,000 | ' | 13,500 | 21,000 |
Amortization expense | 0 | ' | 4,608 | 4,608 |
Changes in operating assets and liabilities: | ' | ' | ' | ' |
Increase in prepaid expenses | 0 | ' | -12,500 | -12,500 |
Net Cash Used In Operating Activities | -4,108 | ' | -65,289 | -69,397 |
Cash Flows Used in Investing Activities: | 0 | ' | 0 | 0 |
Cash Flows From Financing Activities: | ' | ' | ' | ' |
Loans from related party | 4,208 | ' | 125 | 4,333 |
Proceeds from sale of common stock, net | 0 | ' | 0 | 86,375 |
Net Cash Provided by Financing Activities | 4,208 | ' | 125 | 90,708 |
Net Increases / (Decrease) in Cash | 100 | ' | -65,164 | 21,311 |
Cash at Beginning of Period | 0 | 0 | 86,475 | 0 |
Cash at End of Period | 100 | 86,475 | 21,311 | 21,311 |
Supplemental disclosure of cash flow information: | ' | ' | ' | ' |
Cash paid for interest | 0 | ' | 0 | 0 |
Cash paid for taxes | $0 | ' | $0 | $0 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION | 9 Months Ended |
Apr. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION | |
(A) Organization | |
The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all of the information necessary for a comprehensive presentation of financial position and results of operations. The interim results for the period ended April 30, 2014 are not necessarily indicative of results for the full fiscal year. It is management’s opinion, however that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation. | |
TravelSafe, Inc. (a development stage company) (the "Company") was incorporated under the laws of the State of Nevada on March 7, 2013. The Company plans to arrange medical, mobility, companion and associated travel services for senior citizens with medical and/or physical conditions that require or may require specialized accommodations. The Company’s fiscal year end is July 31. | |
The activities during the development stage include developing the business plan and raising capital. | |
(B) Use of Estimates | |
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. The most significant estimates include the valuation of deferred tax valuation allowance and valuation of contributed services. | |
(C) Cash and Cash Equivalents | |
The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At April 30, 2014 and July 31, 2013, the Company has no cash equivalents. | |
(D) Loss Per Share | |
Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, “ Earnings Per Share. ” As of April 30, 2014 and July 31, 2013 there were no common share equivalents outstanding. | |
(E) Income Taxes | |
The Company accounts for income taxes under FASB ASC Topic 740, income taxes (“ASC Topic 740”). Under ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC Topic 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |
(F) Business Segments | |
The Company operates in one segment and therefore segment information is not presented. | |
(G) Revenue Recognition | |
The Company will recognize revenue on arrangements in accordance with FASB ASC Topic 605, “Revenue Recognition ”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed, and collectability of the resulting receivable is reasonably assured. | |
(H) Fair Value of Financial Instruments and Fair Value Measurements | |
The carrying amounts reported in the Company’s financial instruments for the Loans payable - related party are the approximate fair value based on the short-term maturity for these instruments. | |
The Company measures its financial and non-financial assets and liabilities, as well as makes related disclosers in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC Topic 820”). For certain of our financial instruments, including cash and accounts payable, the carrying amounts approximate fair value due to their short maturities. | |
ASC Topic 820 provides guidance with respect to valuation techniques to be utilized in the determination of fair value of assets and liabilities. Approaches include, (i) the market approach (comparable market prices), (ii) the income approach (present value of future income or cash flow), and (iii) the cost approach (cost to replace the service capacity of an asset or replacement cost). ASC Topic 820 utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: | |
Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | |
Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | |
Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. | |
(I) Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements. | |
PREPAID_EXPENSES
PREPAID EXPENSES | 9 Months Ended |
Apr. 30, 2014 | |
Prepaid Expense and Other Assets, Current [Abstract] | ' |
Prepaid Expenses [Text Block] | ' |
NOTE 2 – PREPAID EXPENSES | |
On December 17, 2013 the Company entered into a 1 year agreement with its transfer agent for services of $12,500. The Company is amortizing the cost of the services over the duration of the contract. As of April 30, 2014, the unamortized balance is $7,892. | |
LOAN_PAYABLE_RELATED_PARTY
LOAN PAYABLE - RELATED PARTY | 9 Months Ended |
Apr. 30, 2014 | |
Loans Payable Related Parties Disclosure [Abstract] | ' |
Loans Payable Related Parties Disclosure [Text Block] | ' |
NOTE 3 LOAN PAYABLE - RELATED PARTY | |
At April 30, 2014 and July 31, 2013, the Company’s president has paid a total of $4,332 and $4,208, respectively on behalf of the Company for expenses. The amount is payable upon demand, non-interest bearing and unsecured. | |
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 9 Months Ended |
Apr. 30, 2014 | |
Equity [Abstract] | ' |
Stockholders Equity Note Disclosure [Text Block] | ' |
NOTE 4 STOCKHOLDERS’ EQUITY | |
(A) Preferred Stock | |
The Company authorized 10,000,000 shares of blank check preferred stock with a par value of $.00001 per share with rights and preferences to be determined by the board of directors. | |
(B) Common Stock Issued for Cash | |
On March 7, 2013, the Company sold 5,000,000 shares of founder stock ($0.00001/share) for cash of $50. | |
Between May 16, 2013 and July 31, 2013 the Company sold 950,000 shares of common stock to 30 investors ($0.10/share) for cash of $95,000 less expenses of $8,675. | |
(C) In-Kind Contribution of Services | |
During the period ended July 31, 2013, the Officer of the Company contributed services having a fair value of $7,500. | |
During the three and nine months ended April 30, 2014, the Officer of the Company contributed services having a fair value of $4,500 and $13,500 respectively. For the period March 7, 2013 (Inception) to April 30, 2013 the Officer of the Company contributed services having a fair value of $3,000. | |
GOING_CONCERN
GOING CONCERN | 9 Months Ended |
Apr. 30, 2014 | |
Going Concern [Abstract] | ' |
Going Concern [Text Block] | ' |
NOTE 5 GOING CONCERN | |
As reflected in the accompanying unaudited condensed financial statements, the Company is in the development stage with limited operations. The Company has used cash in operations of $69,397 from inception and has a net loss since inception $82,505. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. | |
Management believes that actions presently being taken to implement its strategic plans provide the opportunity for the Company to continue as a going concern. | |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Policies) | 9 Months Ended |
Apr. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Organization Policy [Policy Text Block] | ' |
(A) Organization | |
The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all of the information necessary for a comprehensive presentation of financial position and results of operations. The interim results for the period ended April 30, 2014 are not necessarily indicative of results for the full fiscal year. It is management’s opinion, however that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation. | |
TravelSafe, Inc. (a development stage company) (the "Company") was incorporated under the laws of the State of Nevada on March 7, 2013. The Company plans to arrange medical, mobility, companion and associated travel services for senior citizens with medical and/or physical conditions that require or may require specialized accommodations. The Company’s fiscal year end is July 31. | |
The activities during the development stage include developing the business plan and raising capital. | |
Use of Estimates, Policy [Policy Text Block] | ' |
(B) Use of Estimates | |
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. The most significant estimates include the valuation of deferred tax valuation allowance and valuation of contributed services. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
(C) Cash and Cash Equivalents | |
The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At April 30, 2014 and July 31, 2013, the Company has no cash equivalents. | |
Earnings Per Share, Policy [Policy Text Block] | ' |
(D) Loss Per Share | |
Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, “ Earnings Per Share. ” As of April 30, 2014 and July 31, 2013 there were no common share equivalents outstanding. | |
Income Tax, Policy [Policy Text Block] | ' |
(E) Income Taxes | |
The Company accounts for income taxes under FASB ASC Topic 740, income taxes (“ASC Topic 740”). Under ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC Topic 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |
Segment Reporting, Policy [Policy Text Block] | ' |
(F) Business Segments | |
The Company operates in one segment and therefore segment information is not presented. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
(G) Revenue Recognition | |
The Company will recognize revenue on arrangements in accordance with FASB ASC Topic 605, “Revenue Recognition ”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed, and collectability of the resulting receivable is reasonably assured. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
(H) Fair Value of Financial Instruments and Fair Value Measurements | |
The carrying amounts reported in the Company’s financial instruments for the Loans payable - related party are the approximate fair value based on the short-term maturity for these instruments. | |
The Company measures its financial and non-financial assets and liabilities, as well as makes related disclosers in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC Topic 820”). For certain of our financial instruments, including cash and accounts payable, the carrying amounts approximate fair value due to their short maturities. | |
ASC Topic 820 provides guidance with respect to valuation techniques to be utilized in the determination of fair value of assets and liabilities. Approaches include, (i) the market approach (comparable market prices), (ii) the income approach (present value of future income or cash flow), and (iii) the cost approach (cost to replace the service capacity of an asset or replacement cost). ASC Topic 820 utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: | |
Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | |
Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | |
Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
(I) Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements. | |
PREPAID_EXPENSES_Details_Textu
PREPAID EXPENSES (Details Textual) (USD $) | 1 Months Ended | |
Dec. 17, 2013 | Apr. 30, 2014 | |
Prepaid Expenses [Line Items] | ' | ' |
Agreement Period | '1 year | ' |
Fees and Commissions, Transfer Agent | $12,500 | ' |
Prepaid Expense, Current, Total | ' | $7,892 |
LOAN_PAYABLE_RELATED_PARTY_Det
LOAN PAYABLE - RELATED PARTY (Details Textual) (USD $) | Apr. 30, 2014 | Jul. 31, 2013 |
Related Party Transaction [Line Items] | ' | ' |
Due to Related Parties, Current | $4,333 | $4,208 |
STOCKHOLDERS_EQUITY_Details_Te
STOCKHOLDERS' EQUITY (Details Textual) (USD $) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 5 Months Ended | 9 Months Ended | 12 Months Ended | 14 Months Ended | |
Mar. 31, 2013 | Apr. 30, 2013 | Apr. 30, 2014 | Jul. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2014 | Jul. 31, 2013 | Apr. 30, 2014 | |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Authorized | ' | ' | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred Stock, Par or Stated Value Per Share | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Common Stock, Shares Authorized | 5,000,000 | ' | 250,000,000 | 250,000,000 | 250,000,000 | 250,000,000 | 250,000,000 | 250,000,000 |
Common Stock, Par or Stated Value Per Share | $0.00 | ' | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Development Stage Entities, Stock Issued, Shares, Issued for Cash | ' | ' | ' | 950,000 | ' | ' | ' | ' |
Share Price | ' | ' | ' | $0.10 | $0.10 | ' | $0.10 | ' |
Stock Issuance Fee | ' | ' | ' | $8,675 | $8,675 | ' | ' | ' |
Contribution For Services | ' | ' | ' | ' | ' | ' | 7,500 | ' |
Development Stage Entities, Stock Issued, Value, Issued for Cash | 50 | ' | ' | 95,000 | 86,325 | ' | ' | ' |
Other Labor-related Expenses | ' | $3,000 | $4,500 | ' | ' | $13,500 | ' | $21,000 |
GOING_CONCERN_Details_Textual
GOING CONCERN (Details Textual) (USD $) | 2 Months Ended | 3 Months Ended | 5 Months Ended | 9 Months Ended | 14 Months Ended |
Apr. 30, 2013 | Apr. 30, 2014 | Jul. 31, 2013 | Apr. 30, 2014 | Apr. 30, 2014 | |
Schedule Of Liquidity Disclosure [Line Items] | ' | ' | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total | ($4,108) | ' | ' | ($65,289) | ($69,397) |
Net Income (Loss) Attributable to Parent, Total | ($7,108) | ($18,349) | ($11,608) | ($70,897) | ($82,505) |