Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Nov. 30, 2015 | May. 31, 2015 | |
Document and Entity Information | ||
Entity Registrant Name | Smart Server, Inc | |
Document Type | 10-K | |
Document Period End Date | Nov. 30, 2015 | |
Amendment Flag | false | |
Entity Central Index Key | 1,596,961 | |
Current Fiscal Year End Date | --11-30 | |
Entity Common Stock, Shares Outstanding | 5,500,000 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | FY | |
Entity Public Float | $ 50,000 | |
Trading Symbol | svtz |
Balance Sheets
Balance Sheets - USD ($) | Nov. 30, 2015 | Nov. 30, 2014 |
Current assets: | ||
Cash | $ 1,563 | $ 6,195 |
Total current assets | 1,563 | 6,195 |
Website, net | 2,850 | 4,750 |
Total assets | 4,413 | 10,945 |
Current liabilities: | ||
Accounts payable | 11,799 | 4,679 |
Accounts payable - related party | 100 | |
Current portion of long term debt - related party | 100,000 | 20,000 |
Total current liabilities | 111,799 | 24,779 |
Long term liabilities: | ||
Accrued interest payable - related party | 12,283 | 5,026 |
Note payable - related party | 33,000 | 80,000 |
Total long term liabilities | 45,283 | 85,026 |
Total liabilities | $ 157,082 | $ 109,805 |
Stockholders' equity | ||
Preferred stock value | ||
Common stock value | $ 5,500 | $ 5,500 |
Additional paid-in capital | 64,500 | 64,500 |
Subscriptions receivable | 5,000 | |
Accumulated deficit | (217,669) | (168,860) |
Total stockholders' equity | (152,669) | (98,860) |
Total liabilities and stockholders' equity | $ 4,413 | $ 10,945 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Nov. 30, 2015 | Nov. 30, 2014 |
Balance Sheet | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 5,500,000 | 5,000,000 |
Common stock, shares outstanding | 5,500,000 | 5,000,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Income Statement | ||
Revenue | ||
Operating expenses: | ||
General and administrative expenses | $ 2,529 | $ 1,229 |
Depreciation and amortization | 1,900 | 950 |
Professional fees | 35,623 | 127,266 |
Professional fees - related party | 1,500 | 1,200 |
Total operating expenses | 41,552 | 130,645 |
Other expenses: | ||
Interest expense - related party | 7,257 | 4,950 |
Total other expenses | (7,257) | (4,950) |
Net loss | $ (48,809) | $ (135,595) |
Net loss per share - basic | $ (0.01) | $ (0.03) |
Weighted average number of common shares outstanding - basic | 5,089,041 | 5,293,151 |
STATEMENT OF STOCKHOLDERS' EQUI
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Common Stock | Additional Paid-in Capital | Subscription Receivable | Accumulated Deficit | Total Stockholders' Equity |
Beginning Balance, shares at Nov. 30, 2013 | 5,000,000 | ||||
Beginning Balance, amount at Nov. 30, 2013 | $ 5,000 | $ 15,000 | $ (33,265) | $ (13,265) | |
Issuance of common stock for cash, shares | 500,000 | ||||
Issuance of common stock for cash, value | $ 500 | 49,500 | 50,000 | ||
Net income (loss) for the period | (135,595) | (135,595) | |||
Ending Balance, shares at Nov. 30, 2014 | 5,500,000 | ||||
Ending Balance, amount at Nov. 30, 2014 | $ 5,500 | 64,500 | (168,860) | (98,860) | |
Beginning Balance, shares at Nov. 30, 2013 | 5,000,000 | ||||
Beginning Balance, amount at Nov. 30, 2013 | $ 5,000 | 15,000 | (33,265) | (13,265) | |
Ending Balance, shares at Nov. 30, 2015 | 5,500,000 | ||||
Ending Balance, amount at Nov. 30, 2015 | $ 5,500 | 64,500 | $ (5,000) | (217,669) | (152,669) |
Beginning Balance, shares at Nov. 30, 2014 | 5,500,000 | ||||
Beginning Balance, amount at Nov. 30, 2014 | $ 5,500 | 64,500 | (168,860) | (98,860) | |
Issuance of common stock for cash, shares | 5,000,000 | ||||
Issuance of common stock for cash, value | $ 5,000 | (5,000) | |||
Repurchase and cancellation of common stock, shares | (5,000,000) | ||||
Repurchase and cancellation of common stock, value | $ (5,000) | (5,000) | |||
Net income (loss) for the period | (48,809) | (48,809) | |||
Ending Balance, shares at Nov. 30, 2015 | 5,500,000 | ||||
Ending Balance, amount at Nov. 30, 2015 | $ 5,500 | $ 64,500 | $ (5,000) | $ (217,669) | $ (152,669) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | 24 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2015 | |
Operating activities | |||
Net loss | $ (48,809) | $ (135,595) | $ (217,669) |
Adjustments to reconcile net loss to net cash used by operating activities: | |||
Depreciation and amortization | 1,900 | 950 | |
Changes in operating assets and liabilities: | |||
(Increase) decrease in prepaid expenses | 5,000 | ||
Increase (decrease) in accounts payable | 7,120 | 4,504 | |
Increase (decrease) in accrued interest payable - related party | 7,257 | 4,950 | |
Net cash used by operating activities | (32,632) | (120,191) | |
Investing activities | |||
Website development costs | 5,700 | ||
Net cash used in investing activities | (5,700) | ||
Financing activities | |||
Proceeds from note payable - related party | 33,000 | 80,000 | |
Proceeds from sale of common stock | 50,000 | ||
Payments for the purchase of treasury stock | 5,000 | ||
Net cash provided by financing activities | 28,000 | 130,000 | |
Net increase (decrease) in cash | (4,632) | 4,109 | |
Cash - beginning of the period | 6,195 | 2,086 | 2,086 |
Cash - ending of the period | $ 1,563 | $ 6,195 | $ 1,563 |
Supplemental disclosures | |||
Interest paid | |||
Income taxes paid |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Summary of Significant Accounting Policies | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization The Company was incorporated on October 24, 2013 (Date of Inception) under the laws of the State of Nevada, as Smart Server, Inc. The Company has not commenced significant operations and, in accordance with ASC Topic 915, the Company is considered a development stage company. Nature of operations The Company will design and develop a mobile payment application that will offer customers at participating restaurants, bars and clubs the ability to pay their bill with their smartphone - without even having to ask for the check. Year end The Companys year end is November 30. Cash and cash equivalents For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. Website The Company capitalizes the costs associated with the development of the Companys website pursuant to ASC Topic 350. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of 3 years using the straight-line method for financial statement purposes. The Company has commenced amortization upon completion of the Companys fully operational website. Amortization expense for the years ended November 30, 2015 and 2014 was $1,900 and $950, respectively. Revenue recognition We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable. The Company will record revenue when it is realizable and earned and the services have been rendered to the customers. Advertising costs Advertising costs are anticipated to be expensed as incurred; however there were no advertising costs included in general and administrative expenses for the years ended November 30, 2015 and 2014. Fair value of financial instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of November 30, 2015 and 2014. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Level 1: The preferred inputs to valuation efforts are quoted prices in active markets for identical assets or liabilities, with the caveat that the reporting entity must have access to that market. Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actually trade in active markets. Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as unobservable, and limits their use by saying they shall be used to measure fair value to the extent that observable inputs are not available. This category allows for situations in which there is little, if any, market activity for the asset or liability at the measurement date. Earlier in the standard, FASB explains that observable inputs are gathered from sources other than the reporting company and that they are expected to reflect assumptions made by market participants. Stock-based compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. Earnings per share The Company follows ASC Topic 260 to account for the earnings per share. Basic earnings per common share (EPS) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. Income taxes The Company follows ASC Topic 740 for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. The Company applies a more-likely-than-not recognition threshold for all tax uncertainties. ASC Topic 740 only allows the recognition of those tax benefits that have a greater than fifty percent likelihood of being sustained upon examination by the taxing authorities. As of November 30, 2015 and 2014, the Company reviewed its tax positions and determined there were no outstanding, or retroactive tax positions with less than a 50% likelihood of being sustained upon examination by the taxing authorities, therefore this standard has not had a material affect on the Company. The Company does not anticipate any significant changes to its total unrecognized tax benefits within the next 12 months. The Company classifies tax-related penalties and net interest as income tax expense. As of November 30, 2015 and 2014, no income tax expense has been incurred. 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 of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates. Recent pronouncements The Company has evaluated the recent accounting pronouncements through March 2016 and believes that none of them will have a material effect on the companys financial statements except for the following ASU below. The Company has elected early adoption of Accounting Standard Update (ASU) 2014-10, Topic 915, Development Stage Entities, Elimination of Certain Financial Reporting Requirements |
Going Concern
Going Concern | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Going Concern | NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. As noted above, the Company is in the development stage and, accordingly, has not yet generated revenues from operations. Since its inception, the Company has been engaged substantially in financing activities and developing its business plan and incurring startup costs and expenses. As a result, the Company incurred accumulated net losses from Inception (October 24, 2013) through the period ended November 30, 2015 of ($217,669). In addition, the Companys development activities since inception have been financially sustained through debt and equity financing. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. |
Prepaid Expenses Disclosure
Prepaid Expenses Disclosure | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Prepaid Expenses Disclosure | NOTE 3 - PREPAID EXPENSES As of November 30, 2015 and 2014, the Company had prepaid expenses totaling $0 and $0, respectively. The prepaid professional fees will be expensed on a straight line basis over the remaining life of the service period. During the year ended November 30, 2014, the Company amortized the entire balance of prepaid expenses upon the completion of services rendered to the Company. |
Notes Payable - Related Party D
Notes Payable - Related Party Disclosure | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Notes Payable - Related Party Disclosure | NOTE 4 - NOTES PAYABLE - RELATED PARTY On November 7, 2013, the Company executed a promissory note with a related party for $20,000. The unsecured note bears interest at 6% per annum with principal and interest due on November 7, 2015. During the year ended November 30, 2014, this promissory note was reclassified to current portion of long term debt - related party. As of the date of this filing, the note is in default. On December 5, 2013, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on December 5, 2015. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. As of the date of this filing, the note is in default. On January 30, 2014, the Company executed a promissory note with a related party for $20,000. The unsecured note bears interest at 6% per annum with principal and interest due on January 30, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. As of the date of this filing, the note is in default. On March 3, 2014, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on March 3, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On March 25, 2014, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on March 25, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On April 3, 2014, the Company executed a promissory note with a related party for $15,000. The unsecured note bears interest at 6% per annum with principal and interest due on April 3, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On July 25, 2014, the Company executed a promissory note with a related party for $15,000. The unsecured note bears interest at 6% per annum with principal and interest due on July 25, 2016. During the nine months ended August 31, 2015, this promissory note was reclassified to current portion of long term debt - related party. On February 27, 2015, the Company executed a promissory note with a related party for $5,000. The unsecured note bears interest at 6% per annum with principal and interest due on February 27, 2017. On April 1, 2015, the Company executed a promissory note with a related party for $8,000. The unsecured note bears interest at 6% per annum with principal and interest due on April 1, 2017. On May 19, 2015, the Company executed a promissory note with a related party for $5,000. The unsecured note bears interest at 6% per annum with principal and interest due on May 19, 2017. On June 4, 2015, the Company executed a promissory note with a related party for $5,000. The unsecured note bears interest at 6% per annum with principal and interest due on June 4, 2017. On August 4, 2015, the Company executed a promissory note with a related party for $10,000. The unsecured note bears interest at 6% per annum with principal and interest due on August 4, 2017. Interest expense for the years ended November 30, 2015 and 2014 was $7,257 and $4,950, respectively. |
Income Taxes Disclosure
Income Taxes Disclosure | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Income Taxes Disclosure | NOTE 5 - INCOME TAXES At November 30, 2015 and 2014, the Company had a federal operating loss carryforward of $217,669 and $168,860, respectively, which begins to expire in 2033. Components of net deferred tax assets, including a valuation allowance, are as follows at November 30, 2015 and 2014: 2015 2014 Deferred tax assets: Net operating loss carryforward $ 76,184 $ 57,412 Total deferred tax assets 76,184 57,412 Less: Valuation allowance (76,184) (57,412) Net deferred tax assets $ -- $ -- The valuation allowance for deferred tax assets as of November 30, 2015 and 2014 was $76,814 and $57,412, respectively, which will begin to expire in 2033. In assessing the recovery of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers the scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment. As a result, management determined it was more likely than not the deferred tax assets would not be realized as of November 30, 2015 and 2014 and maintained a full valuation allowance. Reconciliation between the statutory rate and the effective tax rate is as follows at November 30, 2015 and 2014: 2015 2014 Federal statutory rate (35.0)% (35.0)% State taxes, net of federal benefit (0.00)% (0.00)% Change in valuation allowance 35.0% 35.0% Effective tax rate 0.0% 0.0% |
Stockholders' Equity Disclosure
Stockholders' Equity Disclosure | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Stockholders' Equity Disclosure | NOTE 6 - STOCKHOLDERS EQUITY The Company is authorized to issue 100,000,000 shares of its $0.001 par value common stock and 10,000,000 shares of its $0.001 par value preferred stock. Common stock On November 7, 2013, the Company issued an officer and director of the Company 5,000,000 shares of its $0.001 par value common stock at a price of $0.004 per share for services rendered of $20,000. On May 1, 2014, the Company issued 500,000 shares of its $0.001 par value common stock at a price of $0.10 per share for cash of $50,000. On June 24, 2015, the Company repurchased and cancelled 5,000,000 shares of common stock from a former officer and directory of the Company for $5,000. On July 24, 2015, the Company issued 5,000,000 shares of common stock for services to an officer and director. The Company and the officer and director mutually agreed to rescind the transaction. On November 16, 2015, the Company sold 5,000,000 shares of common stock to an officer and director for subscriptions receivable of $5,000. In February 2016, the Company received $5,000. During the period from inception (October 24, 2013) through the period ended November 30, 2015, there have been no other issuances of common stock. |
Warrants and Options Disclosure
Warrants and Options Disclosure | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Warrants and Options Disclosure | NOTE 7 - WARRANTS AND OPTIONS As of November 30, 2015 and 2014, there were no warrants or options outstanding to acquire any additional shares of common stock. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Related Party Transactions | NOTE 8 - RELATED PARTY TRANSACTIONS During the year ended November 30, 2015 and 2014 the Company paid an individual for consulting services totaling $1,500 and $1,200, respectively. As of November 30, 2015 and 2014, the Company owed the individual a total of $0 and $100, respectively. In March 2015, the individual was appointed as a member of the board of directors and as an officer of the Company and now the individual is considered a related party. As of November 30, 2015 and 2014, the Company had loans totaling $133,000 and $80,000 and accrued interest totaling $12,283 and $5,026 due to an entity. During the years ended November 30, 2015 and 2014, the interest expense was $7,257 and $4,950, respectively. In March 2015, there was a new officer and director appointed and the lender is now considered a related party. The lender is an entity that is owned and controlled by a family member of an officer and director of the Company. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Nov. 30, 2015 | |
Notes | |
Subsequent Events | NOTE 9 - SUBSEQUENT EVENTS On December 10, 2015, the Company executed a promissory note with a related party for $8,000. The unsecured note bears interest at 6% per annum with principal and interest due on December 10, 2017. |
Summary of Significant Accoun16
Summary of Significant Accounting Policies: Year End Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Year End Policy | Year end The Companys year end is November 30. |
Summary of Significant Accoun17
Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Cash and Cash Equivalents Policy | Cash and cash equivalents For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. |
Summary of Significant Accoun18
Summary of Significant Accounting Policies: Website Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Website Policy | Website The Company capitalizes the costs associated with the development of the Companys website pursuant to ASC Topic 350. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of 3 years using the straight-line method for financial statement purposes. The Company has commenced amortization upon completion of the Companys fully operational website. Amortization expense for the years ended November 30, 2015 and 2014 was $1,900 and $950, respectively. |
Summary of Significant Accoun19
Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Revenue Recognition Policy | Revenue recognition We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable. The Company will record revenue when it is realizable and earned and the services have been rendered to the customers. |
Summary of Significant Accoun20
Summary of Significant Accounting Policies: Advertising Costs Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Advertising Costs Policy | Advertising costs Advertising costs are anticipated to be expensed as incurred; however there were no advertising costs included in general and administrative expenses for the years ended November 30, 2015 and 2014. |
Summary of Significant Accoun21
Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Fair Value of Financial Instruments | Fair value of financial instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of November 30, 2015 and 2014. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Level 1: The preferred inputs to valuation efforts are quoted prices in active markets for identical assets or liabilities, with the caveat that the reporting entity must have access to that market. Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actually trade in active markets. Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as unobservable, and limits their use by saying they shall be used to measure fair value to the extent that observable inputs are not available. This category allows for situations in which there is little, if any, market activity for the asset or liability at the measurement date. Earlier in the standard, FASB explains that observable inputs are gathered from sources other than the reporting company and that they are expected to reflect assumptions made by market participants. |
Summary of Significant Accoun22
Summary of Significant Accounting Policies: Stock-based Compensation Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Stock-based Compensation Policy | Stock-based compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. |
Summary of Significant Accoun23
Summary of Significant Accounting Policies: Earnings Per Share Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Earnings Per Share Policy | Earnings per share The Company follows ASC Topic 260 to account for the earnings per share. Basic earnings per common share (EPS) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. |
Summary of Significant Accoun24
Summary of Significant Accounting Policies: Income Taxes Policy (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Income Taxes Policy | Income taxes The Company follows ASC Topic 740 for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. The Company applies a more-likely-than-not recognition threshold for all tax uncertainties. ASC Topic 740 only allows the recognition of those tax benefits that have a greater than fifty percent likelihood of being sustained upon examination by the taxing authorities. As of November 30, 2015 and 2014, the Company reviewed its tax positions and determined there were no outstanding, or retroactive tax positions with less than a 50% likelihood of being sustained upon examination by the taxing authorities, therefore this standard has not had a material affect on the Company. The Company does not anticipate any significant changes to its total unrecognized tax benefits within the next 12 months. The Company classifies tax-related penalties and net interest as income tax expense. As of November 30, 2015 and 2014, no income tax expense has been incurred. |
Summary of Significant Accoun25
Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Use of Estimates | 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 of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates. |
Summary of Significant Accoun26
Summary of Significant Accounting Policies: Recent Pronouncements (Policies) | 12 Months Ended |
Nov. 30, 2015 | |
Policies | |
Recent Pronouncements | Recent pronouncements The Company has evaluated the recent accounting pronouncements through March 2016 and believes that none of them will have a material effect on the companys financial statements except for the following ASU below. The Company has elected early adoption of Accounting Standard Update (ASU) 2014-10, Topic 915, Development Stage Entities, Elimination of Certain Financial Reporting Requirements |
Income Taxes Disclosure_ Schedu
Income Taxes Disclosure: Schedule of Deferred Tax Assets (Tables) | 12 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets | 2015 2014 Deferred tax assets: Net operating loss carryforward $ 76,184 $ 57,412 Total deferred tax assets 76,184 57,412 Less: Valuation allowance (76,184) (57,412) Net deferred tax assets $ -- $ -- |
Income Taxes Disclosure_ Sche28
Income Taxes Disclosure: Schedule of Effective Income Tax Rate (Tables) | 12 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate | 2015 2014 Federal statutory rate (35.0)% (35.0)% State taxes, net of federal benefit (0.00)% (0.00)% Change in valuation allowance 35.0% 35.0% Effective tax rate 0.0% 0.0% |
Going Concern (Details)
Going Concern (Details) - USD ($) | 12 Months Ended | 24 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2015 | |
Details | |||
Net loss | $ (48,809) | $ (135,595) | $ (217,669) |
Notes Payable - Related Party30
Notes Payable - Related Party Disclosure (Details) - USD ($) | 12 Months Ended | ||
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2013 | |
Proceeds from related party note payable | $ 33,000 | $ 80,000 | |
Interest expense - related party | (7,257) | (4,950) | |
November 7, 2013 | |||
Proceeds from related party note payable | $ 20,000 | ||
Interest rate per annum | 6.00% | ||
December 5, 2013 | |||
Proceeds from related party note payable | $ 10,000 | ||
Interest rate per annum | 6.00% | ||
January 30, 2014 | |||
Proceeds from related party note payable | $ 20,000 | ||
Interest rate per annum | 6.00% | ||
March 3, 2014 | |||
Proceeds from related party note payable | $ 10,000 | ||
Interest rate per annum | 6.00% | ||
March 25, 2014 | |||
Proceeds from related party note payable | $ 10,000 | ||
Interest rate per annum | 6.00% | ||
April 3, 2014 | |||
Proceeds from related party note payable | $ 15,000 | ||
Interest rate per annum | 6.00% | ||
July 25, 2014 | |||
Proceeds from related party note payable | $ 15,000 | ||
Interest rate per annum | 6.00% | ||
February 27, 2015 | |||
Proceeds from related party note payable | $ 5,000 | ||
Interest rate per annum | 6.00% | ||
April 1, 2015 | |||
Proceeds from related party note payable | $ 8,000 | ||
Interest rate per annum | 6.00% | ||
May 19, 2015 | |||
Proceeds from related party note payable | $ 5,000 | ||
Interest rate per annum | 6.00% | ||
June 4, 2015 | |||
Proceeds from related party note payable | $ 5,000 | ||
Interest rate per annum | 6.00% | ||
August 4, 2015 | |||
Proceeds from related party note payable | $ 10,000 | ||
Interest rate per annum | 6.00% |
Income Taxes Disclosure_ Sche31
Income Taxes Disclosure: Schedule of Deferred Tax Assets (Details) - USD ($) | Nov. 30, 2015 | Nov. 30, 2014 |
Details | ||
Deferred tax assets, net operating loss carryforward | $ 76,184 | $ 57,412 |
Deferred tax assets, gross | 76,184 | 57,412 |
Deferred tax assets valuation allowance | $ (76,184) | $ (57,412) |
Income Taxes Disclosure_ Sche32
Income Taxes Disclosure: Schedule of Effective Income Tax Rate (Details) | 12 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Details | ||
Federal statutory rate | 35.00% | 35.00% |
State taxes, net of federal benefit | 0.00% | 0.00% |
Change in valuation allowance | 35.00% | 35.00% |
Effective tax rate | 0.00% | 0.00% |
Stockholders' Equity Disclosu33
Stockholders' Equity Disclosure (Details) - USD ($) | 12 Months Ended | ||
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2013 | |
Details | |||
Common stock authorized for issuance | 100,000,000 | 100,000,000 | |
Par value of common stock | $ 0.001 | $ 0.001 | |
Preferred stock authorized for issuance | 10,000,000 | 10,000,000 | |
Par value of preferred stock | $ 0.001 | $ 0.001 | |
Common stock issued for services | 5,000,000 | ||
Price per share | $ 0.10 | $ 0.004 | |
Value assigned to common stock issued for services | $ 20,000 | ||
Issuance of common stock for cash | 5,000,000 | 500,000 | |
Proceeds from common stock sold | $ 5,000 | $ 50,000 | |
Common stock repurchased and cancelled | 5,000,000 | ||
Cost and/or value of common stock repurchased | $ 5,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Details | ||
Professional fees - related party | $ 1,500 | $ 1,200 |
Accounts payable - related party | 100 | |
Loans payable to related party | 133,000 | 80,000 |
Accrued interest payable - related party | 12,283 | 5,026 |
Interest expense - related party | $ 7,257 | $ 4,950 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | Dec. 10, 2015 | Nov. 30, 2015 | Nov. 30, 2014 |
Proceeds from related party note payable | $ 33,000 | $ 80,000 | |
December 10, 2015 | |||
Proceeds from related party note payable | $ 8,000 | ||
Interest rate per annum | 6.00% |