| Summary of Significant Accounting Policies | Note 2 - Summary of Significant Accounting
Policies The Management of the Company is responsible
for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application.
Critical accounting policies and practices are those that are both most important to the portrayal of the Companys financial
condition and results and require managements most difficult, subjective, or complex judgments, often as a result of the
need to make estimates about the effects of matters that are inherently uncertain. The Companys significant and critical
accounting policies and practices are disclosed below. Basis of presentation- Unaudited
Interim Financial Information The Companys condensed consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America
(U.S. GAAP). The accompanying condensed consolidated
financial statements include the accounts of the Company and its wholly-owned subsidiary BODT, through September 26, 2014. All
intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial
statements as of September 30, 2015 and for the three and nine month periods ended September 30, 2015 and 2014 are unaudited and,
in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly
the financial position as of September 30, 2015, and the results of operations for the nine month periods ended September 30, 2015
and 2014, the statement of shareholders deficit for the three and nine months ended September 30, 2015 and the statements
of cash flows for the nine month periods ended September 30, 2015 and 2014. The condensed consolidated results of operations for
the three and nine month period ended September 30, 2015 are not necessarily indicative of the results to be expected for the entire
year. The condensed consolidated balance sheet as of December 31, 2014 has been derived from the Companys audited financial
statements for the year ended December 31, 2014. Certain prior year balances have been reclassified to conform with the current
year presentation. While management of the Company believes that the disclosures presented are adequate to make the information
not misleading, these condensed consolidated financial statements should be read in conjunction with our audited financial statements
and the footnotes thereto for the fiscal year ended December 31, 2014 as filed with the Securities and Exchange Commission on December
24, 2015. Through the Companys annual report
on Form 10-K for the years ended December 31, 2014, the Company had reported under the guidance of FASB Accounting Standards Codification
(ASC) Topic 915 , Development Stage Entities , Developments
Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest
Entities Guidance in Topic 810, Consolidation, Reclassification Certain amounts in the prior period
financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect
on reported losses. Revenue Recognition The Company recognizes revenue when
it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following
criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been
rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. In addition
to the aforementioned general policy, the following is the specific revenue recognition policy: Revenues from the sale of our exercise,
dance and training programs is recognized when:
● Persuasive evidence of an arrangement exists;
● The dance or exercise session has been completed in accordance with the terms of the arrangement;
● The price, generally per session, to the customer is fixed and determinable; and
● Collectability is reasonably assured. Use of Estimates and Assumptions
and Critical Accounting 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 estimates
and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s). Critical accounting estimates are estimates
for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly
uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or
operating performance is material. The Companys critical accounting estimates and assumptions affecting the financial statements
were: (i) Assumption as a going concern (ii) Fair value of long-lived assets (iii) Valuation allowance for deferred
tax assets (iv) Estimates and assumptions used
in valuation of equity instruments: Management bases its estimates on historical
experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole
under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities
that are not readily apparent from other sources. Management regularly evaluates the key
factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances,
historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those
estimates. Concentration and Credit Risk Financial instruments and related items,
which potentially subject the Company to concentrations of credit risk, consist primarily of cash, cash equivalents and trade receivables.
The Company places its cash and temporary cash investments with high credit quality institutions. At times, such investments may
be in excess of the FDIC insurance limit. Fair Value of Financial Instruments FASB ASC 820 Fair Value Measurements
Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level
3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least
one significant model assumption or input is unobservable. The fair value hierarchy gives the highest
priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable
inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the
categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Companys
financial assets and liabilities, such as cash, accounts receivable, prepaid expenses, accounts payable and accrued interest
related party, approximate their fair values because of the short maturity of these instruments. Transactions involving related parties
cannot be presumed to be carried out on an arms-length basis, as the requisite conditions of competitive, free-market dealings
may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions
were consummated on terms equivalent to those that prevail in arms-length transactions unless such representations can be substantiated. Carrying Value, Recoverability
and Impairment of Long-Lived Assets The Company has adopted ASC 360 Property,
Plant and Equipment The Company assesses the recoverability
of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or
group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if
any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using
the assets expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined
to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book
values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. The Company evaluates acquired assets
for potential impairment indicators at least annually and more frequently upon the occurrence of such events. There were no impairment
charges recognized for the nine month periods ending September 30, 2015 and 2014, respectively. Cash Equivalents The Company considers all highly liquid
investments with a maturity of three months or less when purchased to be cash equivalents. Property and Equipment Property and equipment are recorded
at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as
incurred. Depreciation of property and equipment is computed by the straight-line method (after taking into account their respective
estimated residual values) over the assets estimated useful lives of five (5) to seven (7) years. Upon sale or retirement of property
or equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in
the condensed consolidated statements of operations. Derivative Instruments The Company accounts for derivative
instruments in accordance with Accounting Standards Codification 815, Derivatives and Hedging (ASC 815), If certain conditions are met, a derivative
may be specifically designated as a hedge, the objective of which is to match the timing of gain or loss recognition on the hedging
derivative with the recognition of (i) the changes in the fair value of the hedged asset or liability that are attributable to
the hedged risk or (ii) the earnings effect of the hedged forecasted transaction. For a derivative not designated as a hedging
instrument, the gain or loss is recognized in income in the period of change. The Company has not engaged in any derivative
transactions or hedging activities during the nine month periods ending September 30, 2015 and 2014, respectively. Related Parties The Company follows the provisions of
ASC 850 Related Party Transactions & Disclosures Our financial statements include disclosures
of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the
ordinary course of business. The disclosures include: (a) the nature of the relationship(s) involved; (b) a description of the
transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income
statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on
the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented
and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amounts due
from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner
of settlement. Commitment and Contingencies The Company follows the guidance of
ASC 450 Contingencies If the assessment of a contingency indicates
that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated
liability would be accrued in the Companys condensed consolidated financial statements. If the assessment indicates that
a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then
the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be
disclosed. Loss contingencies considered remote
are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not
believe, based upon information available at this time, that these matters will have a material adverse effect on the Companys
consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not
materially and adversely affect the Companys business, financial position, and results of operations or cash flows. Equity Instruments Issued to Parties
Other Than Employees for Acquiring Goods or Services The Company accounts for equity instruments
issued to parties other than employees for acquiring goods or services under guidance of ASC 505-50. Accordingly, all transactions in which
goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value
of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement
date used to determine the fair value of the equity instrument issued is the earlier of the date on which the performance is complete
or the date on which it is probable that performance will occur. Deferred Tax Assets and Income
Tax Provision The Company recognizes deferred tax
assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or
tax returns pursuant to the provisions of ASC 740 Income Taxes Net Income (Loss) per Common Share Basic net income (loss) per common share
is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period.
Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of
common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that
could occur from common shares issuable through contingent share arrangements such as stock options, convertible note shares and
warrants. For the three and nine month reporting
periods ended September 30, 2015 and 2014, the Company had 433,333 and 100,000 potentially dilutive shares underlying convertible
notes outstanding, respectively, which were not included in our income (loss) per share calculations as they were anti-dilutive. Subsequent Events The Company will evaluate and disclose
if indicated, subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09, the Company,
as an SEC filer, considers its financial statements issued when they are widely distributed to users, such as through filing them
on EDGAR. Accounting Standards Update In April 2015, the
FASB issued the FASB Accounting Standards Update No. 2015-03 InterestImputation of Interest (Subtopic 835-30) Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03). In August 2015,
the FASB issued the FASB Accounting Standards Update No. 2015-14 Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date (ASU 2015-14). Management believes
that recently issued standards, both effective and not yet effective, will not have a material impact on the Companys financial
statements upon adoption. |
