Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Jun. 30, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | Spirit International, Inc. | |
Entity Central Index Key | 1,610,607 | |
Document Type | 10-K | |
Document Period End Date | Dec. 31, 2016 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 5,000,000 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,016 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash and cash equivalents | $ 10,459 | $ 1,441 |
Accounts receivables | 2,500 | |
TOTAL ASSETS | 12,959 | 1,441 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 8,000 | 4,000 |
Loan from related party | 42,037 | 23,497 |
Total liabilities | 50,037 | 27,497 |
Stockholder's Deficit | ||
Common stock, $0.0001 par value, 75,000,000 shares authorized; 8,110,000 and 5,000,000 shares issued and outstanding as of December 31, 2016 and 2015 respectively | 811 | 500 |
Paid in capital | 21,789 | |
Accumulated deficit | (59,678) | (26,556) |
Total Stockholder's Deficit | (37,078) | (26,056) |
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT | $ 12,959 | $ 1,441 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, authorized | 75,000,000 | 75,000,000 |
Common stock, issued | 8,110,000 | 5,000,000 |
Common stock, outstanding | 8,110,000 | 5,000,000 |
STATEMENT OF OPERATIONS
STATEMENT OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | ||
Sales | $ 11,000 | |
General and administrative expenses : | ||
Filing fees | 18,058 | 4,167 |
Other costs | 848 | 479 |
Professional fees:- | ||
Auditor's fees | 20,000 | 10,000 |
Legal fees | 5,216 | 4,500 |
Total operating expenses | (44,122) | (19,146) |
Loss from operations | (33,122) | (19,146) |
Other income (expenses): | ||
Gain on forgiveness of debt | 75,000 | |
Net income (loss) | $ (33,122) | $ 55,854 |
Loss per share - basic and diluted: | ||
Net earnings (loss) per share attributable to common stockholders (in dollars per share) | $ (0.01) | $ 0.01 |
Weighted average number of common shares outstanding (in shares) | 6,128,579 | 5,000,000 |
STATEMENT OF STOCKHOLDER'S DEFI
STATEMENT OF STOCKHOLDER'S DEFICIT - USD ($) | Common Stock [Member] | Paid in Capital [Member] | Accumulated Deficit [Member] | Total |
Balances at beginning at Dec. 31, 2014 | $ 500 | $ (82,410) | $ (81,910) | |
Balances at beginning (in shares) at Dec. 31, 2014 | 5,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Income for the year | 55,854 | 55,854 | ||
Balances at ending at Dec. 31, 2015 | $ 500 | (26,556) | (26,056) | |
Balances at ending (in shares) at Dec. 31, 2015 | 5,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Common stock issued for cash at $0.01 per share | $ 22 | 22,078 | 22,100 | |
Common stock issued for cash at $0.01 per share (in shares) | 222,000 | |||
Split of common stock 1:5 | $ 2,089 | (2,089) | ||
Split of common stock 1:5 (in shares) | 20,888,000 | |||
Cancellation of stocks | $ (1,800) | 1,800 | ||
Cancellation of stocks (in shares) | (18,000,000) | |||
Loss for the year | (33,122) | (33,122) | ||
Balances at ending at Dec. 31, 2016 | $ 811 | $ 21,789 | $ (59,678) | $ (37,078) |
Balances at ending (in shares) at Dec. 31, 2016 | 8,110,000 |
STATEMENT OF STOCKHOLDER'S DEF6
STATEMENT OF STOCKHOLDER'S DEFICIT (Parenthetical) | 12 Months Ended |
Dec. 31, 2016$ / shares | |
Statement of Stockholders' Equity [Abstract] | |
Common stock issued per share | $ 0.01 |
Reverses stock split | 1:5 |
STATEMENT OF CASH FLOWS
STATEMENT OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash Flows from Operating Activities | ||
Net income / (loss) | $ (33,122) | $ 55,854 |
Reconciliation of net loss to net cash used in operating activities: | ||
Gain on forgiveness of debt | (75,000) | |
Changes in operating assets and liabilities: | ||
Accounts receivables | (2,500) | 500 |
Accounts payable and accrued expenses | 4,000 | 1,593 |
Net cash used in operating activities | (31,622) | (17,053) |
Cash Flows from Investing Activities | ||
Cash Flows from Financing Activities | ||
Proceeds from issuance of common stock | 22,100 | |
Proceeds from related party loan | 18,540 | 16,084 |
Net cash provided by financing activities | 40,640 | 16,084 |
(Decrease)/increase in cash and cash equivalents | 9,018 | (969) |
Cash and cash equivalents at beginning of the period | 1,441 | 2,410 |
Cash and cash equivalents at end of the period | $ 10,459 | $ 1,441 |
NATURE OF BUSINESS AND BASIS OF
NATURE OF BUSINESS AND BASIS OF PRESENTATION | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
NATURE OF BUSINESS AND BASIS OF PRESENTATION | NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION Business Spirit International, Inc. (the “Company”) is a Nevada Corporation incorporated on March 10, 2014. The Company plans to market a unique brand of Australian whiskey for export to Western Europe and the Middle East. Basis of Presentation The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). These financial statements are presented in US dollars. Fiscal Year End The Corporation has adopted a fiscal year end of December 31. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies are set out below, these policies have been consistently applied to the period presented, unless otherwise stated: Use of Estimates The preparation of 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 assets and liabilities at the date of the financial statements and the reported amounts or revenues and expenses during the reporting period. Actual results could differ from those estimates. Going concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of December 31, 2016 the Company has a deficit from operations of $59,678 and has not earned sufficient revenues to cover operating costs and has a working capital deficit of $37,078. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2017. The Company will engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer non-cash consideration as a means of financing its operations. If the Company is unable to obtain revenue-producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Cash and cash equivalents Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. Accounts payable and accrued expenses Accounts payable and accrued expenses are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. Revenue Recognition The Company recognizes revenue when all of the following have occurred: persuasive evidence of an agreement with the customer exists, delivery has occurred or services have been rendered, the selling price is fixed or determinable and collectability of the selling price is reasonably assured. The Company recognizes revenues when title has passed to the customer, which is generally when products are shipped. Cost of Sales Cost of sales consists of the cost of merchandise sold to customers. Income taxes Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.” Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences). Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled. Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Earnings per share The Company computes net loss per share in accordance with ASC 260, "Earnings Per Share" ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As at December 31, 2016 the Company had no potentially dilutive shares. Fair Value of Financial Instruments The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: - Level 1: Quoted prices in active markets for identical instruments; - Level 2: Other significant observable inputs (including quoted prices in active markets for similar instruments); - Level 3: Significant unobservable inputs (including assumptions in determining the fair value of certain investments). |
LOAN FROM RELATED PARTY
LOAN FROM RELATED PARTY | 12 Months Ended |
Dec. 31, 2016 | |
Loan From Related Party | |
LOAN FROM RELATED PARTY | NOTE 3 – LOAN FROM RELATED PARTY December 31, December 31, 2016 2015 $ $ Loans from related party 42,037 23,497 The above loan is unsecured, bears no interest and has no set terms of repayment. This loan is repayable on demand. |
STOCKHOLDER'S DEFICIT
STOCKHOLDER'S DEFICIT | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
STOCKHOLDER'S DEFICIT | NOTE 4 – STOCKHOLDER’S DEFICIT Common Stock On October 11, 2014, the Company issued 5,000,000 shares of common stock to the director of the Company at a price of $0.0001 per share, for $500 cash. During November 2016, the Company issued 222,000 shares of common stock to various stockholders at price of $0.01 per share, for $22,100 cash. At November 16, 2016 the company made a share split and gave 5 shares for every share, and issued 20,888,000 shares total 26,110,000. At December 1, 2016 the director cancelled by 18,000,000 shares of his. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 5 – INCOME TAXES The provision (benefit) for income taxes for the years ended December 31, 2016 and 2015 differs from the amount which would be expected as a result of applying the statutory tax rates to the losses before income taxes due primarily to changes in the valuation allowance to fully reserve net deferred tax assets. Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. December December $ $ Deferred tax assets: Net operating loss before non-deductible items (33,122 ) 55,854 (Less)/Add: non-deductible (income) / loss - (75,000 ) Net operating loss after non-deductible items (33,122 ) (19,146 ) Tax rate 15 % 15 % Total deferred tax assets 4,968 2,872 Less: Valuation allowance (4,968 ) (2,872 ) Net deferred tax assets - - December December $ $ Components of deferred tax assets: Non capital tax loss carry forwards 8,952 3,983 Less: (8,952 ) (3,983 ) Net deferred tax asset - - The Company has provided a valuation allowance against the full amount of the deferred tax asset due to management’s uncertainty about its realization. As of December 31, 2016, the Company had approximately $59,678 in tax loss carryforwards that can be utilized future periods to reduce taxable income, and expire by the year 2036. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 – RELATED PARTY TRANSACTIONS Details of transactions between the Corporation and related parties are disclosed below. The following entities have been identified as related parties : Zur Dadon - Director and greater than 10% stockholder The following balances exist with related parties: December 31, December 31, 2016 2015 $ $ Balance sheet: Loan from related party - Director 42,037 23,497 From time to time, the president and stockholder of the Company provides advances to the Company for its working capital purposes. These advances bear no interest and are due on demand. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 7– SUBSEQUENT EVENTS In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report. |
SUMMARY OF SIGNIFICANT ACCOUN15
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Use of Estimates | Use of Estimates The preparation of 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 assets and liabilities at the date of the financial statements and the reported amounts or revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Going concern | Going concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of December 31, 2016 the Company has a deficit from operations of $59,678 and has not earned sufficient revenues to cover operating costs and has a working capital deficit of $37,078. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2017. The Company will engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer non-cash consideration as a means of financing its operations. If the Company is unable to obtain revenue-producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Cash and cash equivalents | Cash and cash equivalents Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. |
Accounts payable and accrued expenses | Accounts payable and accrued expenses Accounts payable and accrued expenses are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue when all of the following have occurred: persuasive evidence of an agreement with the customer exists, delivery has occurred or services have been rendered, the selling price is fixed or determinable and collectability of the selling price is reasonably assured. The Company recognizes revenues when title has passed to the customer, which is generally when products are shipped. |
Cost of Sales | Cost of Sales Cost of sales consists of the cost of merchandise sold to customers. |
Income taxes | Income taxes Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.” Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences). Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled. Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. |
Earnings per share | Earnings per share The Company computes net loss per share in accordance with ASC 260, "Earnings Per Share" ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As at December 31, 2016 the Company had no potentially dilutive shares. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: - Level 1: Quoted prices in active markets for identical instruments; - Level 2: Other significant observable inputs (including quoted prices in active markets for similar instruments); - Level 3: Significant unobservable inputs (including assumptions in determining the fair value of certain investments). |
LOAN FROM RELATED PARTY (Tables
LOAN FROM RELATED PARTY (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Schedule of loan due to related party | December 31, December 31, 2016 2015 $ $ Loans from related party 42,037 23,497 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of deferred tax assets and liabilities | December December $ $ Deferred tax assets: Net operating loss before non-deductible items (33,122 ) 55,854 (Less)/Add: non-deductible (income) / loss - (75,000 ) Net operating loss after non-deductible items (33,122 ) (19,146 ) Tax rate 15 % 15 % Total deferred tax assets 4,968 2,872 Less: Valuation allowance (4,968 ) (2,872 ) Net deferred tax assets - - December December $ $ Components of deferred tax assets: Non capital tax loss carry forwards 8,952 3,983 Less: (8,952 ) (3,983 ) Net deferred tax asset - - |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Schedule of related party transactions | The following balances exist with related parties: December 31, December 31, 2016 2015 $ $ Balance sheet: Loan from related party - Director 42,037 23,497 |
SUMMARY OF SIGNIFICANT ACCOUN19
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||
Accumulated deficit | $ 59,678 | $ 26,556 |
Working capital deficit | (37,078) | |
Federal Deposit Insurance Corporation | $ 250,000 |
LOAN FROM RELATED PARTY (Detail
LOAN FROM RELATED PARTY (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loans from related party | $ 42,037 | $ 23,497 |
Mr. Zur Dadon (Director and greater than 10% stockholder) [Member] | ||
Description of interest rate terms | Bears no interest | |
Description of repayment terms | Loan is repayable on demand. | |
Loans Payable [Member] | Mr. Zur Dadon (Director and greater than 10% stockholder) [Member] | ||
Loans from related party | $ 42,037 | $ 23,497 |
Description of collateral | Loan is unsecured. | |
Description of interest rate terms | Bears no interest. | |
Description of repayment terms | Loan is repayable on demand. |
STOCKHOLDER'S DEFICIT (Details
STOCKHOLDER'S DEFICIT (Details Narrative) - USD ($) | Dec. 01, 2016 | Nov. 16, 2016 | Oct. 11, 2014 | Nov. 30, 2016 | Dec. 31, 2016 |
Share price (in dollars per share) | $ 0.01 | ||||
Number of shares issued to stockholders | 222,000 | ||||
Shares issued on cash to stockholders | $ 22,100 | $ 22,100 | |||
Description of stock splits | 5 shares for every share. | ||||
Split of common stock | 20,888,000 | ||||
Number of shares issued | 26,110,000 | ||||
Mr. Zur Dadon (Director and greater than 10% stockholder) [Member] | |||||
Number of shares cancelled | 18,000,000 | ||||
Mr. Zur Dadon (Director and greater than 10% stockholder) [Member] | |||||
Number of shares issued for services | 5,000,000 | ||||
Share price (in dollars per share) | $ 0.0001 | ||||
Number of shares issued for services, value | $ 500 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Deferred tax assets: | ||
Net operating loss before non-deductible items | $ (33,122) | $ 55,854 |
(Less)/Add: non-deductible (income) / loss | (75,000) | |
Net operating loss after non-deductible items | $ (33,122) | $ (19,146) |
Tax rate | 15.00% | 15.00% |
Total deferred tax assets | $ 4,968 | $ 2,872 |
Less: Valuation allowance | (4,968) | (2,872) |
Net deferred tax assets |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Components of deferred tax assets: | ||
Non capital tax loss carry forwards | $ 8,952 | $ 3,983 |
Less: valuation allowance | (4,968) | (2,872) |
Net deferred tax assets |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Income Tax Disclosure [Abstract] | |
Operating loss carryforwards | $ 59,678 |
Tax loss carryforwards, expire period | 2,036 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Loan from related party - Director | $ 42,037 | $ 23,497 |
Loans Payable [Member] | Mr. Zur Dadon (Director and greater than 10% stockholder) [Member] | ||
Loan from related party - Director | $ 42,037 | $ 23,497 |
RELATED PARTY TRANSACTIONS (D26
RELATED PARTY TRANSACTIONS (Details Narrative) - Mr. Zur Dadon (Director and greater than 10% stockholder) [Member] | 12 Months Ended |
Dec. 31, 2016 | |
Description of interest rate terms | Bears no interest |
Description of repayment terms | Loan is repayable on demand. |