Document and Entity Information
Document and Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 21, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | CannaMED Enterprises, Inc. | ||
Entity Central Index Key | 1,623,016 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 3,500,000 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
CURRENT ASSETS | ||
Cash | ||
TOTAL ASSETS | ||
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | $ 4,725 | |
TOTAL LIABILITIES | $ 4,725 | |
STOCKHOLDERS' EQUITY: | ||
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, none issued and outstanding as of December 31, 2015 and December 31, 2014, respectively | ||
Common stock, $0.0001 par value, 100,000,000 shares authorized, 3,500,000 and 20,000,000 shares issued and outstanding as of December 31, 2015 and December 31, 2014, respectively | $ 350 | $ 2,000 |
Discount on common stock | (350) | (2,000) |
Additional paid in capital | 7,318 | 712 |
Accumulated deficit | (12,043) | $ (712) |
Total Stockholders' Deficit | $ (4,725) | |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 3,500,000 | 20,000,000 |
Common stock, shares outstanding | 3,500,000 | 20,000,000 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Income Statement [Abstract] | ||
REVENUES | ||
COST OF REVENUES | ||
GROSS PROFIT | ||
Operating expenses | $ 712 | $ 11,331 |
TOTAL OPERATING EXPENSES | 712 | 11,331 |
LOSS FROM OPERATIONS | (712) | (11,331) |
LOSS BEFORE PROVISION FOR INCOME TAXES | $ (712) | $ (11,331) |
Provision for income taxes | ||
NET LOSS | $ (712) | $ (11,331) |
NET LOSS PER SHARE OF COMMON STOCK - Basic and diluted | ||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and diluted | 20,000,000 | 14,152,473 |
Statement of Changes in Stockho
Statement of Changes in Stockholders' Deficit - USD ($) | Total | Common Stock | APIC | Discount On Common Stock | Accumulated Deficit |
Beginning balance at Sep. 24, 2014 | |||||
Beginning balance, Shares at Sep. 24, 2014 | |||||
Common stock issued | $ 2,000 | $ (2,000) | |||
Common stock issued, Shares | 20,000,000 | ||||
Additional paid-in capital | $ 712 | $ 712 | |||
Net loss | $ (712) | $ (712) | |||
Ending balance at Dec. 31, 2014 | $ 2,000 | $ 712 | (2,000) | $ (712) | |
Ending balance, Shares at Dec. 31, 2014 | 20,000,000 | ||||
Shares Issued | $ 300 | (300) | |||
Shares Issued, Shares | 3,000,000 | ||||
Shares Redeemed | $ (1,950) | 1,950 | |||
Shares Redeemed, Shares | (19,500,000) | ||||
Contribution from shareholders | $ 6,606 | $ 6,606 | |||
Net loss | (11,331) | $ (11,331) | |||
Ending balance at Dec. 31, 2015 | $ (4,725) | $ 350 | $ 7,318 | $ (350) | $ (12,043) |
Ending balance, Shares at Dec. 31, 2015 | 3,500,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (712) | $ (11,331) |
Changes in Operating Assets and Liabilities | ||
Accrued liabilities | 400 | 4,725 |
Net cash used in operating activities | $ (312) | $ (6,606) |
INVESTING ACTIVITIES: | ||
Net cash used in investing activities | ||
FINANCING ACTIVITIES: | ||
Proceeds from issuance of common stock | $ 2,000 | |
Proceeds from stockholders contribution | 312 | $ 6,606 |
Net cash provided by financing activities | 2,312 | $ 6,606 |
Net increase (decrease) in cash | $ 2,000 | |
Cash at beginning of period | ||
Cash at end of period | ||
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | ||
Cash paid for income tax |
Basis of Presentation and Organ
Basis of Presentation and Organization | 12 Months Ended |
Dec. 31, 2015 | |
Basis of Presentation and Organization [Abstract] | |
BASIS OF PRESENTATION AND ORGANIZATION | NOTE 1 – BASIS OF PRESENTATION AND ORGANIZATION Nature of Operations and Background CannaMED Enterprises, Inc. (“CannaMED” or “the Company”) was incorporated on September 25, 2014 under the laws of the state of Delaware under the name Redwood Valley Acquisition Corporation ("Redwood Valley ") to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company was formed to provide a method for a foreign or domestic private company to become a reporting company with a class of securities registered under the Securities Exchange Act of 1934. The Company’s objectives were to locate and negotiate with a business entity for the combination of that target company with Redwood Valley. This combination would normally take the form of a merger, stock-for-stock exchange or stock-for-assets exchange. In most instances the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended. During the period covered by this report, the Company located such a target and began the process to effect a change in control. On August 24, 2015, the following events occurred which resulted in a change of control of the Company: 1. The officers and directors of Redwood Valley, James Cassidy and James McKillop, entered into a Share Purchase Agreement (the “SPA”) pursuant to which they entered into an agreement to sell an aggregate of 19,500,000 shares of their shares of the Company’s common stock to Mikhail Artamonov, at an aggregate purchase price of $75,000. These shares represented 98% of the Company’s issued and outstanding common stock. Effective upon the closing date of the Share Purchase Agreement, James Cassidy and James McKillop executed the agreement and owned 7% of shares of the Company’s stock, respectively, and Mikhail Artamonov, was the majority stockholder of the Company. 2. The Company redeemed and cancelled an aggregate of 19,500,000 of the then 20,000,000 shares of outstanding stock at a redemption price of $.0001 per share and cancelled such shares. The then current officers and directors resigned. 3. Mikhail Artamonov was named President, Secretary and Chief Financial Officer of the Company. He now serves as the Chief Executive Officer, Secretary, Chief Financial Officer and Director of the Company. On August 25, 2015, the Company issued 3,000,000 shares of its common stock at par representing 86% of the total outstanding 3,500,000 shares of common stock to Mikhail Artamonov, the sole officer and director of the Company. The company effected a change of control and changed its name to CannaMED Enterprises, Inc. With this change of direction, the Company intends to consult with or effect a business combination with a private company to develop as medical cannabis industry innovators, utilizing the Company's team of healthcare and business professionals to start and/or source, research, evaluate and purchase products and companies. The Company will strive to develop environmentally friendly and economically sustainable business within the swiftly developing medical cannabis industry. The Company envisions to initially enter into joint ventures or acquire partial ownership in: ● a laboratory for medical cannabis testing, a pharmacy to perform research; ● a pharmacy to perform research and development of the newest medical cannabis formulations; ● a clinical practice to establish the network dispensaries; ● a packaging company; ● a research facility; and ● real estate to establish the foundation for the growing network Basis of Presentation – The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Intercompany accounts and transactions have been eliminated. Use of Estimates – The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that may 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 revenues and expenses during the reporting period. Actual results could differ from these estimates. Income Taxes – CannaMED accounts for income taxes in accordance with ASC 740, Income Taxes (“ASC 740”), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. ASC 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company’s financial statements. ASC 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. Cash and Cash Equivalents – Cash and cash equivalents includes all highly liquid instruments with an original maturity of three months or less as of December 31, 2015. The Company did not have cash equivalents as of December 31, 2015 and December 31, 2014. Concentration of Risk– Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of December 31, 2015 and December 31, 2014. Fair Value of Financial Instruments – The Company adopted ASC 820, Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair measurement. The carrying value of cash, accounts payables and accrued expenses approximates their fair values due to their short-term maturities at December 31, 2015 and December 31, 2014. Revenue Recognition – The Company will recognize revenue in accordance with ASC 605, Revenue Recognition. ASC 605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery of product has met the criteria established in the arrangement or services rendered; (3) the fee is fixed and determinable; and (4) collectability is reasonably assured. This occurs when the products or services are completed in accordance with the contracts we have with clients. In connection with our products and services arrangements, if we are paid in advance, these amounts will be classified as deferred revenue and amortized over the term of the agreement. Net Loss Per Share – Basic net loss per share is computed by dividing the net loss applicable to common shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share is computed by dividing the loss applicable to common shareholders 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, using the treasury stock method. Due to the Company’s losses in the periods presented, the Company currently has no dilutive securities and as such, basic and diluted loss per share are the same for such periods. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2015 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN CannaMED has not yet generated any revenue since inception to date and has sustained operating loss. As of December 31, 2015, the Company had working capital deficit of $4,725 and an accumulated deficit of $12,043. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from a business combination or other operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations, loans from officers, or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations. |
Recent Accounting Pronuncements
Recent Accounting Pronuncements | 12 Months Ended |
Dec. 31, 2015 | |
Recent Accounting Pronouncements [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS On June 10, 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915). The amendments in this update remove the definition of a development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows, and shareholder’s equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. Early adoption is permitted. The Company adopted this accounting standard during the current period. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," which is the new comprehensive revenue recognition standard that will supersede all existing revenue recognition guidance under GAAP. The standard's core principle is that a company will recognize revenue when it transfers promised goods or services to a customer in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for annual and interim periods beginning on or after December 15, 2016, and early adoption is not permitted. Entities will have the option of using either a full retrospective approach or a modified approach to adopt the guidance in the ASU. The Company currently has no revenues and doesn’t expect any impact of adopting this guidance. August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements – Going Concern (Topic 205-40)”, which requires management to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern for each annual and interim reporting period. If substantial doubt exists, additional disclosure is required. This new standard will be effective for the Company for annual and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company is evaluating the adoption of this accounting standard to determine what material impacts it may have on the financial statements and related disclosures. There are no other recently issued accounting pronouncements that the Company has yet to adopt that are expected to have a material effect on its financial position, results of operations, or cash flows. |
Stockhoders' Equity
Stockhoders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 4 – STOCKHOLDERS’ EQUITY Preferred Stock - The Company is authorized to issue 20,000,000 shares of preferred stock with a par value of $0.0001 per share. There were no preferred shares issued as of December 31, 2015 and 2014. Common Stock - The current ownership structure is as follows: Common Shares Percent Mikhail Artamonov 3,000,000 86 % James McKillop 250,000 7 % James Cassidy 250,000 7 % 3,500,000 100 % |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 5 – COMMITMENTS AND CONTINGENCIES Lease commitment The Company had no lease commitments as of December 31, 2015 and 2014. |
Income Tax
Income Tax | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax [Abstract] | |
INCOME TAX | NOTE 6 – INCOME TAX The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. The provision (benefit) for income taxes consists of the following for the years ended December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Current U.S. $ — $ — Deferred U.S. — — Total $ — $ — A valuation allowance for the net deferred tax assets has been recorded as it is more likely than not that these benefits will not be realized through future operations. Deferred tax assets consist of the following as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Net operating loss carryforward $ (5,124 ) $ (303 ) general business tax credit — — Accrued expenses — — Other — — (5,124 ) (303 ) Valuation allowance 5,124 303 Total $ — $ — As of December 31, 2015 and 2014, the Company had net operating loss carryforwards (“NOL”) for federal and state reporting purposes of approximately $5,124 and $303, respectively, which expire in various years through 2035. The Federal and state tax codes provide for restrictive limitations on the annual utilization of NOLs to offset taxable income when the stock ownership of a company significantly changes, as defined. The income tax provision effective rate of 0% differs from that computed using the 31% federal income tax rate, a 2.7% federal benefit of state tax deduction, combined with an 8.84% California state income tax rate, for a blended rate of 42.5%. During the years ended December 31, 2015 and 2014, the valuation allowance increased by $4,821 and $303, respectively. December 31, 2015 December 31, 2014 Tax benefit at statutory federal rate $ (3,819 ) $ (240 ) State taxes, net of federal tax benefit (1,002 ) (63 ) Increase (decrease) in valuation allowance 4,821 303 Other — — Permanent Items — — General business tax credit — — Total $ — $ — |
Basis of Presentation and Org13
Basis of Presentation and Organization (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Basis of Presentation and Organization [Abstract] | |
Nature of Operations and Background | Nature of Operations and Background CannaMED Enterprises, Inc. (“CannaMED” or “the Company”) was incorporated on September 25, 2014 under the laws of the state of Delaware under the name Redwood Valley Acquisition Corporation ("Redwood Valley ") to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company was formed to provide a method for a foreign or domestic private company to become a reporting company with a class of securities registered under the Securities Exchange Act of 1934. The Company’s objectives were to locate and negotiate with a business entity for the combination of that target company with Redwood Valley. This combination would normally take the form of a merger, stock-for-stock exchange or stock-for-assets exchange. In most instances the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended. During the period covered by this report, the Company located such a target and began the process to effect a change in control. On August 24, 2015, the following events occurred which resulted in a change of control of the Company: 1. The officers and directors of Redwood Valley, James Cassidy and James McKillop, entered into a Share Purchase Agreement (the “SPA”) pursuant to which they entered into an agreement to sell an aggregate of 19,500,000 shares of their shares of the Company’s common stock to Mikhail Artamonov, at an aggregate purchase price of $75,000. These shares represented 98% of the Company’s issued and outstanding common stock. Effective upon the closing date of the Share Purchase Agreement, James Cassidy and James McKillop executed the agreement and owned 7% of shares of the Company’s stock, respectively, and Mikhail Artamonov, was the majority stockholder of the Company. 2. The Company redeemed and cancelled an aggregate of 19,500,000 of the then 20,000,000 shares of outstanding stock at a redemption price of $.0001 per share and cancelled such shares. The then current officers and directors resigned. 3. Mikhail Artamonov was named President, Secretary and Chief Financial Officer of the Company. He now serves as the Chief Executive Officer, Secretary, Chief Financial Officer and Director of the Company. On August 25, 2015, the Company issued 3,000,000 shares of its common stock at par representing 86% of the total outstanding 3,500,000 shares of common stock to Mikhail Artamonov, the sole officer and director of the Company. The company effected a change of control and changed its name to CannaMED Enterprises, Inc. With this change of direction, the Company intends to consult with or effect a business combination with a private company to develop as medical cannabis industry innovators, utilizing the Company's team of healthcare and business professionals to start and/or source, research, evaluate and purchase products and companies. The Company will strive to develop environmentally friendly and economically sustainable business within the swiftly developing medical cannabis industry. The Company envisions to initially enter into joint ventures or acquire partial ownership in: ● a laboratory for medical cannabis testing, a pharmacy to perform research; ● a pharmacy to perform research and development of the newest medical cannabis formulations; ● a clinical practice to establish the network dispensaries; ● a packaging company; ● a research facility; and ● real estate to establish the foundation for the growing network |
Basis of Presentation | Basis of Presentation – The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Intercompany accounts and transactions have been eliminated. |
Use of Estimates | Use of Estimates – The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that may 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 revenues and expenses during the reporting period. Actual results could differ from these estimates. |
Income Taxes | Income Taxes – CannaMED accounts for income taxes in accordance with ASC 740, Income Taxes (“ASC 740”), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. ASC 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company’s financial statements. ASC 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. |
Cash and Cash Equivalents | Cash and Cash Equivalents – Cash and cash equivalents includes all highly liquid instruments with an original maturity of three months or less as of December 31, 2015. The Company did not have cash equivalents as of December 31, 2015 and December 31, 2014. |
Concentration of Risk | Concentration of Risk– Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of December 31, 2015 and December 31, 2014. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments – The Company adopted ASC 820, Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair measurement. The carrying value of cash, accounts payables and accrued expenses approximates their fair values due to their short-term maturities at December 31, 2015 and December 31, 2014. |
Revenue Recognition | Revenue Recognition – The Company will recognize revenue in accordance with ASC 605, Revenue Recognition. ASC 605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery of product has met the criteria established in the arrangement or services rendered; (3) the fee is fixed and determinable; and (4) collectability is reasonably assured. This occurs when the products or services are completed in accordance with the contracts we have with clients. In connection with our products and services arrangements, if we are paid in advance, these amounts will be classified as deferred revenue and amortized over the term of the agreement. |
Net Loss Per Share | Net Loss Per Share – Basic net loss per share is computed by dividing the net loss applicable to common shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share is computed by dividing the loss applicable to common shareholders 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, using the treasury stock method. Due to the Company’s losses in the periods presented, the Company currently has no dilutive securities and as such, basic and diluted loss per share are the same for such periods. |
Stockhoders' Equity (Tables)
Stockhoders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity [Abstract] | |
Schedule of current ownership | Common Shares Percent Mikhail Artamonov 3,000,000 86 % James McKillop 250,000 7 % James Cassidy 250,000 7 % 3,500,000 100 % |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax [Abstract] | |
Schedule of provision (benefit) for income taxes | December 31, 2015 December 31, 2014 Current U.S. $ — $ — Deferred U.S. — — Total $ — $ — |
Schedule of deferred tax assets | December 31, 2015 December 31, 2014 Net operating loss carryforward $ (5,124 ) $ (303 ) general business tax credit — — Accrued expenses — — Other — — (5,124 ) (303 ) Valuation allowance 5,124 303 Total $ — $ — |
Schedule of income tax provision | December 31, 2015 December 31, 2014 Tax benefit at statutory federal rate $ (3,819 ) $ (240 ) State taxes, net of federal tax benefit (1,002 ) (63 ) Increase (decrease) in valuation allowance 4,821 303 Other — — Permanent Items — — General business tax credit — — Total $ — $ — |
Basis of Presentation and Org16
Basis of Presentation and Organization (Details) - USD ($) | 1 Months Ended | ||||
Aug. 31, 2015 | Aug. 25, 2015 | Aug. 24, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Basis of Presentation and Organization (Textual) | |||||
Aggregate shares of common stock | 3,000,000 | ||||
Aggregate purchase price | $ 300 | ||||
Percentage of shares of common stock | 100.00% | ||||
Aggregate amount redeemed and cancelled | 19,500,000 | ||||
Common stock shares outstanding | 3,500,000 | 20,000,000 | |||
Common stock shares issued | 3,500,000 | 20,000,000 | |||
Mikhail Artamonov [Member] | |||||
Basis of Presentation and Organization (Textual) | |||||
Aggregate shares of common stock | 3,000,000 | 19,500,000 | |||
Aggregate purchase price | $ 75,000 | ||||
Percentage of shares of common stock | 86.00% | 7.00% | |||
Percenatage of issued and outstanding common stock | 98.00% | ||||
Aggregate amount redeemed and cancelled | 19,500,000 | ||||
Redemption price | $ 0.0001 | ||||
Common stock shares outstanding | 3,500,000 | 20,000,000 |
Going Concern (Details)
Going Concern (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Going Concern (Textual) | ||
Working capital | $ 4,725 | |
Accumulated deficit | $ 12,043 | $ 712 |
Stockhoders' Equity (Details)
Stockhoders' Equity (Details) - shares | Dec. 31, 2015 | Dec. 31, 2014 |
Other Ownership Interests [Line Items] | ||
Ownership percentage | 100.00% | |
Common stock shares issued | 3,500,000 | 20,000,000 |
James Cassidy [Member] | ||
Other Ownership Interests [Line Items] | ||
Ownership percentage | 7.00% | |
Common stock shares issued | 250,000 | |
James Mckillop [Member] | ||
Other Ownership Interests [Line Items] | ||
Ownership percentage | 7.00% | |
Common stock shares issued | 250,000 | |
Mikhail Artamonov [Member] | ||
Other Ownership Interests [Line Items] | ||
Ownership percentage | 86.00% | |
Common stock shares issued | 3,000,000 |
Stockhoders' Equity (Details Te
Stockhoders' Equity (Details Textual) - USD ($) | 1 Months Ended | ||
Aug. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stockholders Equity (Textual) | |||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | |
Preferred stock, par value | $ 0.0001 | $ 0.0001 | |
Common stock, par value | $ 0.0001 | $ 0.0001 | |
Common stock, shares authorized | 100,000,000 | 100,000,000 | |
Common stock, shares issued | 3,500,000 | 20,000,000 | |
Common stock, shares outstanding | 3,500,000 | 20,000,000 | |
Shares Redeemed | $ 1,950 | ||
Common stock redeemed | 19,500,000 | ||
Common stock issued value | $ 300 | ||
Common stock issued | 3,000,000 |
Income Tax (Details)
Income Tax (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Income Tax [Abstract] | ||
Current | ||
Deferred | ||
Total |
Income Tax (Details 1)
Income Tax (Details 1) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Components of Deferred Tax Assets [Abstract] | ||
Net operating loss carryforward | $ (5,124) | $ (303) |
general business tax credit | ||
Accrued expenses | ||
Other | ||
Deferred tax assets gross | $ (5,124) | $ (303) |
Valuation allowance | $ 5,124 | $ 303 |
Total |
Income Tax (Details 2)
Income Tax (Details 2) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Effective Income Tax Rate [Abstract] | ||
Tax benefit at statutory federal rate | $ (240) | $ (3,819) |
State taxes, net of federal tax benefit | (63) | (1,002) |
Increase (decrease) in valuation allowance | $ 303 | $ 4,821 |
Other | ||
Permanent Items | ||
General business tax credit | ||
Total |
Income Tax (Details Textual)
Income Tax (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Net operating loss carryforward | $ 303 | $ 5,124 |
Federal income tax rate | 31.00% | |
Federal benefit of state tax deduction rate | 2.70% | |
Increase (decrease) in valuation allowance | $ 303 | $ 4,821 |
Income tax provision effective rate | 0.00% | |
State income tax rate | 42.50% | |
Deferred tax assets expiration date | Expire in various years through 2035 | |
California [Member] | ||
State income tax rate | 8.84% |