| Note 2 - Summary of Significant Accounting Policies | Note
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of
Presentation The
accompanying audited financial statements of the Company have been prepared in accordance with accounting principles generally
accepted in the United States of America and the rules of the Securities and Exchange Commission. Concentrations The
Company deposits cash with a national bank within the United States of America and at times throughout the year may maintain balances
that exceed federally insured limits of $250,000 per depositor, per insured bank. There was no uninsured cash at December 31,
2015 or 2014. The Company has not experienced any losses in such accounts, and management believes the Company is not exposed
to any unusual credit risk on cash and cash equivalents. 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 disclosures of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates. Cash
and Cash Equivalents The
Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.
Cash equivalents are placed with high credit quality financial institutions and are primarily in money market funds. The carrying
value of those investments approximates fair value. Accounts
Receivable Accounts
receivable are uncollateralized customer obligations due under normal trade terms, and are stated at the amount the Company expects
to collect from outstanding balances. The Company records an allowance for doubtful accounts based on specifically identified
amounts that are believed to be uncollectible. Management considers accounts receivable to be fully collectible at December 31,
2015. Revenue
Recognition The Company
derives its revenues primarily from providing web and IT services. Web and IT services revenues consist of fees from web design,
software development, domain and hosting, and maintenance and other services. The Company recognizes revenue when persuasive evidence
of an arrangement exists, services have been rendered, the price is fixed and determinable and collectability is reasonably assured.
The Company's service arrangements are generally non-cancelable and do not provide for refunds to customers in the event of cancellations.
The Company records revenues net of sales taxes. Revenues from web design, software development are generally recognized after
the projects are completed and when delivery is made or title and risk of loss otherwise transfers to the customer, and the collection
is reasonably assured. Revenues from IT consulting services, domain and hosting, and maintenance services are generally recognized
on a straight-line basis over the length of the contract. The
Company also enters into arrangements with multiple deliverables that generally include web design and software development, domain
and hosting, and maintenance and other services, with the term ranging from one month to two years. The Company analyzes its agreements
to determine whether the elements can be separated and accounted for individually or as a single unit of accounting in accordance
with the Financial Accounting Standards Board's (the FASB) Accounting Standards Codification (ASC)
605-25, Revenue Arrangements with Multiple Deliverables, and Staff Accounting Bulletin (SAB) 104,
Revenue Recognition. Allocation of revenue to individual elements that qualify for separate accounting is based
on the elements fair value in accordance with ASC 605 and related revenues are recognized
pursuant to the criteria described above. During the year ended December 31, 2015, in one of the arrangements that contain multiple
deliverables, the Company acted as an agent in the transaction. As the agent, it records revenues on a net basis. Customer payments
received in advance of the performance of services are recorded as deferred revenues in the balance sheets, and are recognized
as revenue when the web and IT services are rendered. Cost
of Revenues Cost
of revenues includes all costs associated with the providing website development and IT services for its clients and primarily
consists of subcontracted services. Earnings
(loss) per share Basic
earnings (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted-average
number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income
available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased
to include the number of additional shares of common stock that would have been outstanding if potentially dilutive securities
had been issued. At December 31, 2015, the Company had a $50,000 note payable which is convertible on demand. Management has not
determined the conversion rate on this potentially dilutive security at December 31, 2015. Stock-based
compensation 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, Compensation- Stock Compensation, and FASB ASC 505-50, Equity- Based Payments to Non-Employees. Costs are
measured at the estimated fair value of the consideration received or the estimated fair value of the equity instruments issued,
whichever is more reliably measurable. The value of the 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. Related
Parties A
related party is generally defined as (i) any person that holds 10% or more of the Company's securities and their immediate families,
(ii) the Company's management, (iii) someone that directly or indirectly controls, is controlled by or is under common control
with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction
is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Income
Taxes The
Company accounts for income taxes in accordance with ASC Topic No. 740, Income Taxes. ASC Topic No. 740, requires
a company to use the asset and liability method of accounting for income taxes, 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 that some portion, or all of, the deferred
tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates
on the date of enactment. Under
ASC Topic No. 740, a tax position is recognized as a benefit only if it is more likely than not that the tax position
would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest
amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more
likely than not test, no tax benefit is recorded. Management has analyzed the
Companys material tax positions and has determined that no material uncertain tax positions exist that require recognition
or disclosure in the accompanying financial statements. Fair
Value of Financial Instruments The Company follows guidance for accounting
for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items
that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted
guidance for fair value measurement related to valuation techniques used to measure fair value. The hierarchy gives the highest
priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest
priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of fair value hierarchy
are as follows:
· Level 1- Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.
· Level 2 Inputs are inputs other than quoted prices included within Level 1 that are observable for the assets or liability, either directly or indirectly.
· Level 3 Inputs are unobservable inputs for the asset or liability. The
Company does not have any financial assets or liabilities that are required to be fair valued on a recurring basis. For
certain of the Company's financial instruments, including cash and cash equivalents, accounts receivables, prepaid expenses, accounts
payable and accrued expenses, and deferred revenue, the carrying amounts approximate fair values due to their short maturities. Transactions
involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive,
freemarket dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related
party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations
can be substantiated. It is not, however, practical to determine the fair value of amounts due from/to related parties due to their
related party nature. Foreign
Currency Transactions and Translation The Company records and settles
all transactions in U.S. Dollars based on the current exchange rate prevailing at each transaction date, therefore there are no
translation adjustments at the balance sheet date that should be included in accumulated other comprehensive income. Accounting Standards Not
Yet Adopted In
August 2015, FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date.
The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities,
certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting
periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application
is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within
that reporting period. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In
November 2015 the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes, which changes how deferred
taxes are classified on the Companys balance sheets and is effective for financial statements issued for annual periods
beginning after December 15, 2016, with early adoption permitted. ASU 2015-17 requires all deferred tax assets and liabilities
to be classified as non-current. Upon adoption, we anticipate no effect on our balances sheets as the Company has recorded a valuation
allowance reducing our net deferred tax assets and liabilities to zero at December 31, 2015 and 2014. In February 2016, the FASB
issued ASU 2016-02, Leases (Topic 842), which supersedes ASC 840, Leases. This ASU is based on the principle that entities
should recognize assets and liabilities arising from leases. The ASU does not significantly change the lessees
recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Leases are
classified as finance or operating. The ASUs primary change is the requirement for entities to recognize a lease
liability for payments and a right of use asset representing the right to use the leased asset during the term on operating lease
arrangements. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for
leases with a term of twelve months or less. Lessors accounting under the ASC is largely unchanged from the previous
accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and
lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The
effective date will be the first quarter of fiscal year 2020 with early adoption permitted. Management continues to
assess the overall impact the adoption of ASU 2016-02 will have on the Companys financial statements. In
March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations
(Reporting Revenue Gross versus Net). 'The amendments in this ASU are intended to improve the operability and understandability
of the implementation guidance on principal versus agent considerations by amending certain existing illustrative examples and
adding additional illustrative examples to assist in the application of the guidance. The effective date and transition of these
amendments is the same as the effective date and transition of ASU 2014-09, Revenue from Contracts with Customers (Topic
606). Public entities should apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15,
2017, including interim reporting periods therein. The Company is currently in the process of evaluating the impact of the adoption
on its financial statements. In
March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based
Payment Accounting. The amendments are effective for public companies for annual periods beginning after December 15, 2016,
and interim periods within those annual periods. Several aspects of the accounting for share-based payment award transactions are
simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification
on the statement of cash flows. The Company is currently in the process of evaluating the impact of the adoption on its financial
statements. Going Concern The accompanying financial statements have been prepared
on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course
of business. The Company has incurred losses since inception and has a deficit accumulated of $36,745 as of December 31, 2015.
The Company requires capital for its contemplated operational and marketing activities. The Companys ability to raise additional
capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development
of the Companys contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations
are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt
about the Companys ability to continue as a going concern. The financial statements of the Company do not include any adjustments
that may result from the outcome of these aforementioned uncertainties. |
