Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Feb. 28, 2017 | Jun. 09, 2017 | Aug. 31, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | Property Management Corp of America | ||
Entity Central Index Key | 1,602,409 | ||
Trading Symbol | pptg | ||
Current Fiscal Year End Date | --02-28 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 10,307,000 | ||
Entity Public Float | $ 522,800 | ||
Document Type | 10-K | ||
Document Period End Date | Feb. 28, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Feb. 28, 2017 | Feb. 29, 2016 |
CURRENT ASSETS: | ||
Cash | $ 1,316 | $ 2,154 |
Management fee receivable | 1,673 | |
Total Assets | 2,989 | 2,154 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 26,894 | 12,310 |
Notes payable - related party | 27,500 | 27,500 |
Total Current Liabilities | 54,394 | 39,810 |
STOCKHOLDERS' DEFICIT: | ||
Preferred stock par value $0.0001: 1,000,000 shares authorized; none issued or outstanding | 0 | 0 |
Common stock par value $0.0001: 18,000,000 shares authorized; 10,307,000 shares issued and outstanding, respectively | 1,031 | 1,031 |
Additional paid-in capital | 65,219 | 65,219 |
Accumulated deficit | (117,655) | (103,906) |
Total Stockholders' Deficit | (51,405) | (37,656) |
Total Liabilities and Stockholders' Deficit | $ 2,989 | $ 2,154 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Feb. 28, 2017 | Feb. 29, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, shares issued (in shares) | 10,307,000 | 10,307,000 |
Common stock, shares outstanding (in shares) | 10,307,000 | 10,307,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Feb. 28, 2017 | Feb. 29, 2016 | |
Revenue - related party | $ 14,054 | $ 14,558 |
Cost of revenue | 6,320 | 6,551 |
Gross margin | 7,734 | 8,007 |
Operating expenses | ||
Professional fees | 10,438 | 1,801 |
General and administrative | 6,432 | 14,796 |
Rent - related party | 4,200 | 4,200 |
Total operating expenses | 21,070 | 20,797 |
Loss from operations | (13,336) | (12,790) |
Other income (expense) | ||
Interest expense | (413) | (343) |
Net loss | $ (13,749) | $ (13,133) |
Earnings per share - basic and diluted (in dollars per share) | $ 0 | $ 0 |
Weighted average common shares outstanding - basic and diluted (in shares) | 10,307,000 | 10,214,123 |
Statement of Changes in Stockho
Statement of Changes in Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Feb. 28, 2015 | 10,007,000 | |||
Balance at Feb. 28, 2015 | $ 1,001 | $ 50,249 | $ (90,773) | $ (39,523) |
Common stock issued for cash at $0.05 per share (in shares) | 300,000 | |||
Common stock issued for cash at $0.05 per share | $ 30 | 14,970 | 15,000 | |
Net loss | (13,133) | (13,133) | ||
Balance (in shares) at Feb. 29, 2016 | 10,307,000 | |||
Balance at Feb. 29, 2016 | $ 1,031 | 65,219 | (103,906) | (37,656) |
Net loss | (13,749) | (13,749) | ||
Balance (in shares) at Feb. 28, 2017 | 10,307,000 | |||
Balance at Feb. 28, 2017 | $ 1,031 | $ 65,219 | $ (117,655) | $ (51,405) |
Statement of Changes in Stockh6
Statement of Changes in Stockholders' Deficit (Parentheticals) | 12 Months Ended |
Feb. 29, 2016$ / shares | |
Common Stock [Member] | |
Common stock issuance per share amount (in dollars per share) | $ 0.05 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Feb. 28, 2017 | Feb. 29, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (13,749) | $ (13,133) |
Changes in operating assets and liabilities: | ||
Management fee receivable | (1,673) | |
Accounts payable and accrued expenses | 14,584 | (10,743) |
Net cash used in operating activities | (838) | (23,876) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from sale of common stock | 15,000 | |
Proceeds from note payable - related party | 10,000 | |
Net cash provided by financing activities | 25,000 | |
NET CHANGE IN CASH | (838) | 1,124 |
Cash at beginning of reporting period | 2,154 | 1,030 |
Cash at end of reporting period | 1,316 | 2,154 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: | ||
Interest paid | 413 | 343 |
Income taxes paid |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Feb. 28, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1 Summary of Significant Accounting Policies Property Management Corporation of America (the “Company”) was incorporated on January 23, 2014 On April 14, 2017, 9,000,000 87.4% $200,000. On April 28, 2017, 10 5 three 40,000, 30,000 30,000 100,000 one 200 20 On May 15, 2017, one 1 four 4 18,000,000, 200,000,000, June 13, 2017, none Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the year ended February 28, 2017, $13,749, $838, February 28, 2017, $51,405. one not From January 23, 2014 ( February 28, 2017, February 28, 2017, $27,500 $1,057, April 24, 2017, $28,557 Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include accounting for potential liabilities. Actual results could differ from those estimates. 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. Income Taxes The Company accounts for income taxes using the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not Basic and diluted loss per share Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the years ended February 28, 2017 February 29, 2016, no Fair Value of Financial Instruments Under current accounting guidance, fair value is defined as the price at which an asset could be exchanged or a liability transferred in a transaction between knowledgeable, willing parties in the principal or most advantageous market for the asset or liability. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or parameters are not three Level 1 Level 2 Level 3 The Company is required to use observable market data if such data is available without undue cost and effort. As of February 28, 2017, Recently Issued Accounting Pronouncements In May 2014, No. 2014 09, 2014 09 2014 09, 2016 08, 2016 10, 2016 11, 2016 12, 2016 20, 2017 05, 2014 09. 2014 09 December 15, 2017. December 15, 2016, March 1, 2018. In February 2016, No. 2016 02, 12 2016 02 December 15, 2018. 2016 02 Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not not |
Note 2 - Related Party Transact
Note 2 - Related Party Transactions | 12 Months Ended |
Feb. 28, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 Notes Payable – Officer/stockholder From January 23, 2014 ( February 28, 2017, February 28, 2017 February 29, 2016, $27,500 February 28, 2017 $1,057. 1.5% April 14, 2017, $28,557, $1,057 Revenue One hundred percent ( 100% two February 28, 2017 not Office rent The Company sublets an approximate 250 $350 March 31, 2017. February 28, 2017 February 29, 2016, $4,200 |
Note 3 - Income Taxes
Note 3 - Income Taxes | 12 Months Ended |
Feb. 28, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 3 The Company has no February 28, 2017, $120,000, 2037. Components of the Company’s deferred tax assets as of February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Net deferred tax assets – Non-current: Net operating loss carryforwards $ 49,077 $ 35,328 Less valuation allowance (49,077 ) (35,328 ) Deferred tax assets, net of valuation allowance $ - $ - In assessing the potential realization of deferred tax assets, management considers whether it is more likely than not February 28, 2017, February 29, 2016, not No February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016. For the Year Ended February 28, 2017 For the Year Ended February 29, 2016 U.S. Federal statutory income tax rate 34.0 % 34.0 % Change in valuation allowance (34.0 ) (34.0 ) Effective income tax rate 0.0 % 0.0 % The Company adopted accounting rules which address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under these rules, the Company may not fifty February 28, 2017, no |
Note 4 - Subsequent Events
Note 4 - Subsequent Events | 12 Months Ended |
Feb. 28, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 4 On April 14, 2017, 9,000,000 87.4% On April 15, 2017, 2,850,000 $65,000. June 13, 2017, not On April 28, 2017, 10 5 three 40,000, 30,000 30,000 100,000 one 200 20 On May 15, 2017, one 1 four 4 18,000,000, 200,000,000, June 13, 2017, none |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 28, 2017 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include accounting for potential liabilities. Actual results could differ from those estimates. |
Revenue Recognition, Policy [Policy Text Block] | 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. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes using the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not |
Earnings Per Share, Policy [Policy Text Block] | Basic and diluted loss per share Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the years ended February 28, 2017 February 29, 2016, no |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Under current accounting guidance, fair value is defined as the price at which an asset could be exchanged or a liability transferred in a transaction between knowledgeable, willing parties in the principal or most advantageous market for the asset or liability. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or parameters are not three Level 1 Level 2 Level 3 The Company is required to use observable market data if such data is available without undue cost and effort. As of February 28, 2017, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In May 2014, No. 2014 09, 2014 09 2014 09, 2016 08, 2016 10, 2016 11, 2016 12, 2016 20, 2017 05, 2014 09. 2014 09 December 15, 2017. December 15, 2016, March 1, 2018. In February 2016, No. 2016 02, 12 2016 02 December 15, 2018. 2016 02 Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not not |
Note 3 - Income Taxes (Tables)
Note 3 - Income Taxes (Tables) | 12 Months Ended |
Feb. 28, 2017 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | February 28, 2017 February 29, 2016 Net deferred tax assets – Non-current: Net operating loss carryforwards $ 49,077 $ 35,328 Less valuation allowance (49,077 ) (35,328 ) Deferred tax assets, net of valuation allowance $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Year Ended February 28, 2017 For the Year Ended February 29, 2016 U.S. Federal statutory income tax rate 34.0 % 34.0 % Change in valuation allowance (34.0 ) (34.0 ) Effective income tax rate 0.0 % 0.0 % |
Note 1 - Organization and Sum14
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) | Jun. 20, 2017shares | Apr. 28, 2017shares | Apr. 24, 2017USD ($) | Apr. 14, 2017USD ($)shares | Feb. 28, 2017USD ($)shares | Feb. 29, 2016USD ($)shares | Feb. 28, 2015USD ($) |
Common Stock, Shares Authorized | 18,000,000 | 18,000,000 | |||||
Net Income (Loss) Attributable to Parent | $ | $ (13,749) | $ (13,133) | |||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | $ | (838) | (23,876) | |||||
Stockholders' Equity Attributable to Parent | $ | (51,405) | (37,656) | $ (39,523) | ||||
Notes Payable, Related Parties, Current | $ | $ 27,500 | $ 27,500 | |||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 0 | 0 | |||||
Washington Capital Advisors LLC [Member] | |||||||
Notes Payable, Related Parties, Current | $ | $ 27,500 | ||||||
Interest Payable, Current | $ | $ 1,057 | ||||||
Scenario, Forecast [Member] | |||||||
Common Stock, Shares Authorized | 200,000,000 | ||||||
Reverse Stock Split [Member] | Scenario, Forecast [Member] | |||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 4 | ||||||
Subsequent Event [Member] | |||||||
Shares Transferred Between Shareholders | 9,000,000 | ||||||
Majority Shareholder Ownership, Percentage | 87.40% | ||||||
Shares Transferred Between Shareholders, Value | $ | $ 200,000 | ||||||
Software License Agreement, Term | 10 years | ||||||
Software License Agreement, Extension Term | 5 years | ||||||
Subsequent Event [Member] | Washington Capital Advisors LLC [Member] | |||||||
Repayments of Related Party Debt | $ | $ 28,557 | $ 28,557 | |||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | ||||||
Convertible Preferred Stock, Shares, Voting Power | 200 | ||||||
Convertible Preferred Stock, Shares, Aggregate Voting Power | 20,000,000 | ||||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Software License Agreement [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 100,000 | ||||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Cheong Chee Ming [Member] | Software License Agreement [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 40,000 | ||||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Cheong Leong Foong [Member] | Software License Agreement [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 30,000 | ||||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Liew Siew Chin [Member] | Software License Agreement [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 30,000 |
Note 2 - Related Party Transa15
Note 2 - Related Party Transactions (Details Textual) | Apr. 24, 2017USD ($) | Apr. 14, 2017USD ($) | Feb. 28, 2017USD ($)ft² | Feb. 29, 2016USD ($) |
Notes Payable, Related Parties, Current | $ 27,500 | $ 27,500 | ||
Operating Leases, Rent Expense | $ 4,200 | $ 4,200 | ||
Office Space [Member] | ||||
Area of Land | ft² | 250 | |||
Operating Leases Rent Expense Monthly | $ 350 | |||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Two Customers [Member] | ||||
Concentration Risk, Percentage | 100.00% | |||
Washington Capital Advisors LLC [Member] | ||||
Notes Payable, Related Parties, Current | $ 27,500 | |||
Interest Payable, Current | $ 1,057 | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | |||
Washington Capital Advisors LLC [Member] | Subsequent Event [Member] | ||||
Repayments of Related Party Debt | $ 28,557 | $ 28,557 |
Note 3 - Income Taxes (Details
Note 3 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Feb. 28, 2017 | Feb. 29, 2016 | |
Deferred Tax Assets, Operating Loss Carryforwards | $ 120,000 | |
Unrecognized Tax Benefits | 0 | |
Income Tax Expense (Benefit) | $ 0 | $ 0 |
Note 3 - Income Taxes - Deferre
Note 3 - Income Taxes - Deferred Tax Assets (Details) - USD ($) | Feb. 28, 2017 | Feb. 29, 2016 |
Net operating loss carryforwards | $ 49,077 | $ 35,328 |
Less valuation allowance | (49,077) | (35,328) |
Deferred tax assets, net of valuation allowance |
Note 3 - Income Taxes - Effecti
Note 3 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Feb. 28, 2017 | Feb. 29, 2016 | |
U.S. Federal statutory income tax rate | 34.00% | 34.00% |
Change in valuation allowance | (34.00%) | (34.00%) |
Effective income tax rate | 0.00% | 0.00% |
Note 4 - Subsequent Events (Det
Note 4 - Subsequent Events (Details Textual) | Jun. 20, 2017shares | Apr. 28, 2017shares | Apr. 15, 2017USD ($)shares | Apr. 14, 2017shares | Feb. 28, 2017shares | Feb. 29, 2016shares |
Common Stock, Shares Authorized | 18,000,000 | 18,000,000 | ||||
Scenario, Forecast [Member] | ||||||
Common Stock, Shares Authorized | 200,000,000 | |||||
Reverse Stock Split [Member] | Scenario, Forecast [Member] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 4 | |||||
Subsequent Event [Member] | ||||||
Shares Transferred Between Shareholders | 9,000,000 | |||||
Majority Shareholder Ownership, Percentage | 87.40% | |||||
Issuance of Common Stock | 2,850,000 | |||||
Stock To Be Issued, Value | $ | $ 65,000 | |||||
Software License Agreement, Term | 10 years | |||||
Software License Agreement, Extension Term | 5 years | |||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||||
Convertible Preferred Stock, Shares, Voting Power | 200 | |||||
Convertible Preferred Stock, Shares, Aggregate Voting Power | 20,000,000 | |||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Software License Agreement [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Cheong Chee Ming [Member] | Software License Agreement [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 40,000 | |||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Cheong Leong Foong [Member] | Software License Agreement [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 30,000 | |||||
Subsequent Event [Member] | Series A Preferred Stock [Member] | Liew Siew Chin [Member] | Software License Agreement [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 30,000 |