| Organization, Consolidation and Presentation of Financial Statements | 3 Months Ended |
| Oct. 31, 2014 |
| Organization, Consolidation and Presentation of Financial Statements: | ' |
| Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies | ' |
| ASTA HOLDINGS, CORP. |
| NOTES TO THE CONDENSED FINANCIAL STATEMENTS |
| FOR THE THREE MONTH PERIODS ENDED OCTOBER 31, 2014 AND 2013 |
| (UNAUDITED) |
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| NOTE 1 - BASIS OF PRESENTATION |
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| Organization and Description of Business |
| ASTA HOLDINGS, CORP. (the “Company”, “we”, “us” or “our”) was incorporated under the laws of the State of Nevada on June 12, 2013 (“Inception”). We operate a business in yacht maintenance, which includes but is not limited to yacht repairs and maintenance, refurbishing, winterizing, custom refinishing and modifications, interior customization and professional boat detailing in the Russian Federation. Since Inception (“June 12, 2013”) through October 31, 2014 the Company has generated $3,800 in revenue and has accumulated losses of $42,922. |
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| Going Concern |
| The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a loss since Inception (June 12, 2013) resulting in an accumulated deficit of $42,922 as of October 31, 2014 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. |
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| The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and, or, private placement of common stock. |
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| Accounting Basis |
| The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted July 31 fiscal year end. |
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| Development Stage Company |
| The Company is in the development stage as defined under the then current Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915-205 “Development-Stage Entities,” and among the additional disclosures required as a development stage company are that our financial statements were identified as those of a development stage company, and that the statements of operations, changes in stockholders’ equity and cash flows disclosed activity since the date of our inception (December 20, 2012) as a development stage company. Effective June 10, 2014 FASB changed its regulations with respect to Development Stage Entities and these additional disclosures are no longer required for annual reporting periods beginning after December 15, 2014 with the option for entities to early adopt these new provisions. The Company has elected to early adopt these provisions and consequently these additional disclosures have not been included in these financial statements. |
| Use of Estimates |
| The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
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| Cash and Cash Equivalents |
| For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. |
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| The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At October 31, 2014 and July 31, 2014 the Company's bank deposits did not exceed the insured amounts. |
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| Financial Instruments |
| Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. Accounting Standards Codification (“ASC”) 820-10 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. ASC 820 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: |
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| Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and must be used to measure fair value whenever available. |
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| Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. |
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| Level 3: Significant unobservable inputs which reflect a reporting entity’s own assumptions about the assumptions that market participants would use for pricing an asset or liability. For example, level 3 inputs would relate to forecasts of future earnings and cash flows used in a discounted future cash flows method. |
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| The recorded amounts of financial instruments, including cash and loan from shareholder approximate their market values as of October 31, 2014 due to the short term maturities of these financial instruments. |
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| Impairment of Long-Lived Assets |
| The Company, when applicable, continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. |
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| Income Taxes |
| The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. |
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| Revenue Recognition |
| The Company recognizes revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” ("ASC-605"), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectibility is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectibility of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product or servicers has not been delivered or provided or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. |
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| Advertising Costs |
| The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during three month periods ended October 31, 2014 and 2013. |
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| Stock-Based Compensation |
| Stock-based compensation is accounted for at fair value in accordance with ASC 718,”Compensation – Stock Compensation”, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options |
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| As of October 31, 2014 the Company has not issued any stock-based payments to its employees. |
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| Basic and Diluted Income (Loss) Per Share |
| The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. |
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| No potential dilutive debt or equity instruments were issued or outstanding during the three month periods ended October 31, 2014 and 2013. |
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| Dividends |
| The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown. |
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| Recent accounting pronouncements |
| We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company other than those relating to Development Stage Entities as discussed above. |
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| NOTE 2 – COMMON STOCK |
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| The Company has 75,000,000 common shares authorized with a par value of $ 0.001 per share. |
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| On July 22, 2013 the Company issued 7,500,000 shares of its common stock at $0.001 per share for total proceeds of $7,500. |
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| In April 2014, the Company issued 2,180,000 shares of its common stock at $0.01 per share for total proceeds of $21,800. |
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| As of October 31, 2014, the Company has 9,680,000 shares issued and outstanding. |
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| NOTE 3 – INCOME TAXES |
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| As of October 31, 2014 the Company had net operating loss carry forwards of $42,922 that may be available to reduce future years’ taxable income through 2034. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a 100% valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. |
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| NOTE 4 – RELATED PARTY TRANSACTIONS |
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| In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. |
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| As of October 31, 2014, the Company had a loan outstanding with the Company’s shareholder in the amount of $13,650. The loan is non-interest bearing, due upon demand and unsecured. |
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| NOTE 5 – SUBSEQUENT EVENTS |
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| The Company has evaluated subsequent events from October 31, 2014 through the date the financial statements were available to be issued on November 12, 2014 and has determined that there are no items to disclose. |
