Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 25, 2019 | Jun. 30, 2018 | |
Document And Entity Information | |||
Entity Registrant Name | Original Source Music, Inc. | ||
Entity Central Index Key | 0001639836 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filer | No | ||
Entity Reporting Status Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business Flag | true | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | true | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 5,073,000 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2018 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Current Assets | ||
Prepayment | $ 500 | |
Cash | 567 | |
Total Current Assets | 1,067 | |
TOTAL ASSETS | 0 | 1,067 |
Current Liabilities | ||
Accounts payable and accrued expenses | 13,559 | 4,600 |
Due to a related party | 14,320 | |
Notes payable-related party | 64,410 | |
Total Liabilities | 27,879 | 69,010 |
Stockholders' Deficit | ||
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none issued and outstanding | ||
Common stock, $0.001 par value; 45,000,000 shares authorized 5,073,000 shares issued and outstanding | 5,073 | 5,073 |
Additional paid-in capital | 37,070 | 37,070 |
Other reserve | 64,410 | |
Accumulated deficit | (134,432) | (110,086) |
Total Stockholders' Deficit | (27,879) | (67,943) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 1,067 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 45,000,000 | 45,000,000 |
Common stock, shares issued | 5,073,000 | 5,073,000 |
Common stock, shares outstanding | 5,073,000 | 5,073,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Income Statement [Abstract] | |||
Revenue | $ 10 | $ 356 | |
Other income | 1,117 | ||
Operating expenses: | |||
General and administrative expense | 1,436 | 2,991 | |
Professional fees | 24,037 | 24,998 | |
Total operating expenses | 25,473 | 27,989 | |
Loss from operations | (24,346) | (27,633) | |
Interest expense to a related party | (6,446) | ||
Loss before provision for income taxes | (24,346) | (34,079) | |
Income tax provision | |||
Net loss | $ (24,346) | $ (34,079) | |
Net loss per common share - basic and diluted | $ 0 | [1] | $ (0.01) |
Weighted average number of common shares outstanding- basic and diluted | 5,073,000 | 5,073,000 | |
[1] | denotes net loss per common share of less than $0.01 per share. |
Statements of Operations (Paren
Statements of Operations (Parenthetical) | 12 Months Ended |
Dec. 31, 2018$ / shares | |
Maximum [Member] | |
Net loss per common share | $ 0.01 |
Statement of Changes in Shareho
Statement of Changes in Shareholders' Deficit - USD ($) | Common Stock [Member] | Common Stock Payable [Member] | Paid-in Capital [Member] | Other Reserve [Member] | Accumulated Deficit [Member] | Total |
Balance at Dec. 31, 2016 | $ 5,073 | $ 90 | $ 36,980 | $ (76,007) | $ (33,864) | |
Balance, shares at Dec. 31, 2016 | 5,073,000 | 90,000 | ||||
Cancellation of common stock payable for extinguishment of debt | $ (90) | 90 | ||||
Cancellation of common stock payable for extinguishment of debt, shares | (90,000) | |||||
Net loss for the year | (34,079) | (34,079) | ||||
Balance at Dec. 31, 2017 | $ 5,073 | 37,070 | (110,086) | (67,943) | ||
Balance, shares at Dec. 31, 2017 | 5,073,000 | |||||
Waiver of amount due to related party | 64,410 | 64,410 | ||||
Net loss for the year | (24,346) | (24,346) | ||||
Balance at Dec. 31, 2018 | $ 5,073 | $ 37,070 | $ 64,410 | $ (134,432) | $ (27,879) | |
Balance, shares at Dec. 31, 2018 | 5,073,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (24,346) | $ (34,079) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization of debt discount on related party notes | 6,446 | |
Changes in operating assets and liabilities: | ||
Prepayment | 500 | (500) |
Accounts payable and accrued expenses | 8,959 | 4,500 |
Net cash used in operating activities | (14,887) | (23,633) |
Cash Flows From Financing Activities: | ||
Advance from related party | 14,320 | |
Proceeds from notes payable-related party | 23,358 | |
Net cash from financing activities | 14,320 | 23,358 |
Net Decrease In Cash | (567) | (275) |
Cash at beginning of period | 567 | 842 |
Cash at end of period | 567 | |
Cash paid for: | ||
Interest | ||
Income taxes | ||
Non-Cash Activities | ||
Professional fees paid by related party | 1,000 | |
Convertible debt related party exchanged for non-convertible debt-related party | $ 14,617 |
Organization, Operations and Su
Organization, Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Operations and Summary of Significant Accounting Policies | NOTE 1: ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Original Source Music, Inc. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on August 20, 2009 (“Inception”). The Company was a licensor of songs to the television and music industry for use in television shows or movies and currently it has not commenced operations that have resulted in significant revenue. The Company has had limited activity and revenue to date. Basis of Preparation of Financial Statements The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is December 31. Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to uncertainties inherent in the estimation process, it is possible that these estimates could be materially revised within the next year. Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents. Fair Value of Financial Instruments FASB ASC 820-10 “Fair Value Measurements” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This ASC also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. Level 2 Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable data by correlation or other means. Level 3 Inputs that are unobservable for the assets and liabilities. The carrying value of cash, accounts payable and accused expenses and notes payable-related party approximates their fair value due to their short-term maturity. Income tax The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carry forwards 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. The Company had no known material tax assets or liabilities as of December 31, 2018 or December 31, 2017. 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. Products and services, geographic areas and major customers The Company derives revenue from the licensing of songs to the television and music industry. All fee revenues each year were domestic and to external customers. Advertising costs Advertising costs are expensed as incurred. The Company incurred no advertising cost during the years ended December 31, 2018 or 2017. Basic and Diluted Earnings (Loss) Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. During year ended December 31, 2018 or 2017, no potentially dilutive convertible notes payable issued and outstanding. The Company may raise additional capital through the sale of its equity securities, through an offering of debt securities, or through borrowings from financial institutions or related parties. By doing so, the Company hopes to generate sufficient capital to execute its business plan of licensing songs to the television and music industry for use in television shows or movies on an ongoing basis. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as a going concern. During the year ended December 31, 2017, the debt holders holding 90,000 shares declined to accept the 90,000 shares (see details of promissory note M and promissory note N below in note 3). Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2: GOING CONCERN The financial statements for the years ended December 31, 2018 and 2017 have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has suffered a loss from operations and has negative cash flows from operations, and in all likelihood will be required to make significant future expenditures in connection with marketing efforts along with general administrative expenses. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The principal stockholder has undertaken to finance the Company in cash for a “reasonable” period of time for the Company to continue as a going concern, assuming that in such a period of time the Company would be able to restructure its business and restart on a revenue-generating operation to support its continuation. However, it is uncertain as for how long or to what extent such a period of time would be “reasonable”, and there can be no assurance that the financing from the principal stockholder will not be discontinued. These uncertainties may result in adverse effects on continuation of the Company as a going concern. The accompanying financial statements do not include or reflect any adjustments that might result from the outcome of these uncertainties. |
Promissory Notes Payable - Rela
Promissory Notes Payable - Related Party | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Promissory Notes Payable - Related Party | NOTE 3: PROMISSORY NOTES PAYABLE- RELATED PARTY Note K: On December 31, 2016, a related party loaned the Company $4,920. The note is interest free until December 31, 2017 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note K was paid-in-full during the year ended December 31, 2018. Note L: On December 31, 2016, a related party loaned the Company $1,500. The note is interest free until December 31, 2018 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note L was paid-in-full during the year ended December 31, 2018. Note M: On December 31, 2016, Convertible Promissory Note A in the amount of $3,255 dated December 31, 2014, Convertible Promissory Note B in the amount of $6,000 dated January 21, 2015 and Convertible Promissory Note D in the amount of $3,260 dated September 14, 2015, were cancelled and a new single note was issued to replace the three promissory notes in the amount of $12,515. The new note is payable to a related party, VentureVest Capital Corporation and is due on or before December 31, 2018. The note is interest free until December 31, 2017 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. 50,000 shares of the authorized but unissued common stock of the corporation will be issued to VentureVest Capital Corporation within 30 days of the signing of the promissory note valued at par. During the year ended December 31, 2017, VentureVest Capital Corporation declined to accept 50,000 shares of the authorized but unissued common stock of the Company. Accordingly, the paid-in capital was increased by $50. Note M was paid-in-full during the year ended December 31, 2018. Note N: On December 31, 2016, Convertible Promissory Note C in the amount of $6,000 dated March 30, 2015 and, Convertible Promissory Note E in the amount of $1,500 dated June 11, 2015, were cancelled and a new single note was issued to replace the two promissory notes in the amount of $7,500. The new note is payable to Terayco Enterprises Ltd., a related party and is due on or before December 31, 2018. The note is interest free until December 31, 2017 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. 40,000 shares of the authorized but unissued common stock of the corporation will be issued to Terayco Enterprises Ltd. within 30 days of the signing of the promissory note valued at par. During the year ended December 31, 2017, Terayco Enterprises Ltd. declined to accept 40,000 shares of the authorized but unissued common stock of the Company. Accordingly, the paid-in capital was increased by $40. Note N was paid-in-full during the year ended December 31, 2018. Note P: On March 21, 2017, a related party loaned the Company $2,600. The note is interest free until December 31, 2018 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note P was paid-in-full during the year ended December 31, 2018. Note Q: On June 29, 2017, a related party loaned the Company $6,323. The note is interest free until December 31, 2018 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note Q was paid-in-full during the year ended December 31, 2018. Note R: On December 31, 2017 Convertible Promissory Note F in the amount of $5,703 dated February 16, 2016 and, Convertible Promissory Note G in the amount of $7,114 dated May 6, 2016 and Convertible Promissory Note I in the amount of $300 dated June 13, 2016, were cancelled and a new single note was issued to replace the three promissory notes in the amount of $13,117. The new note is payable to a related party, VentureVest Capital Corporation and is due on or before December 31, 2018. The note is interest free until December 31, 2018 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. 100,000 shares of the authorized but unissued common stock of the corporation will be issued to VentureVest Capital Corporation within 30 days of the signing of the promissory note valued at par. Note R was paid-in-full during the year ended December 31, 2018. Note S: On December 31, 2017 Convertible Promissory Note J in the amount of $1,500 dated July 7, 2016 was cancelled and a new single note was issued to replace the promissory note. The new note is payable to a related party, VentureVest Capital Corporation and is due on or before December 31, 2018. The note is interest free until December 31, 2018 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. 10,000 shares of the authorized but unissued common stock of the corporation will be issued to VentureVest Capital Corporation within 30 days of the signing of the promissory note valued at par. Note S was paid-in-full during the year ended December 31, 2018. Note T: On July 22, 2017, a related party loaned the Company $3,800. The note is interest free until December 31, 2018 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note T was paid-in-full during the year ended December 31, 2018. Note U: On August 25, 2017, a related party loaned the Company $2,260. The note is interest free until December 31, 2018 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note U was paid-in-full during the year ended December 31, 2018. Note V: On October 4, 2017, a related party loaned the Company $3,875. The note is interest free until December 31, 2018 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note V was paid-in-full during the year ended December 31, 2018. Note W: On December 24, 2017, a related party loaned the Company $4,500. The note is interest free until December 31, 2018 after which time it’ll bear interest at 6%. The note matures on December 31, 2018 and requires no periodic payment until maturity. Note W was paid-in-full during the year ended December 31, 2018. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 4: INCOME TAXES As of December 31, 2017, the Company had net operating loss carry forwards of $110,086 that may be available to reduce future years’ taxable income through 2036. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. Year ended December 31, 2018 Year ended December 31, 2017 $ $ Federal income tax benefit attributable to: Current operations (5,322 ) (7,156 ) Less: change in valuation allowance 5,322 7,156 Net provision for Federal income taxes - - The Tax Cuts and Jobs Act was signed into law on December 22, 2017 and significantly changes tax law in the United States by, among other items, reducing the federal corporate income tax rate from a maximum of 34% to 21% (effective January 1, 2018). The cumulative tax effect at the expected rate of significant items comprising our net deferred tax amount is as follows: December 31, 2018 December 31, 2017 $ $ Deferred tax asset attributable to: Net operating loss carryover 28,440 23,118 Less: valuation allowance (28,440 ) (23,118 ) Net deferred tax asset - - Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $110,086 as of December 31, 2017 for Federal income tax reporting purposes are subject to annual limitations should a change in ownership occur. |
Other Related Party Transaction
Other Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Other Related Party Transactions | NOTE 5: OTHER RELATED PARTY TRANSACTIONS For the year ended December 31, 2017, $1,000 of professional fees associated with the preparation of the Company’s 2017 financial statements were paid by a related party on behalf of the Company. These fees were recorded as contributed capital by a related party since no consideration was paid, or will be paid, in exchange for these payments. For the year ended December 31, 2017, Ms. Walker and Ms. Atwood agreed to pay $64,410 to holders of promissory notes issued by the Company in full satisfaction of principal and interest in all outstanding promissory notes issued by the Company. On March 19, 2018, all the Promissory Notes K through Promissory Note W, inclusive, were paid-in-full. Ms. Walker and Ms. Atwood have waived all amounts due by the Company at March 19, 2018. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 6: SUBSEQUENT EVENTS In accordance with ASC 855-10, “Subsequent Events” the Company has analyzed its operations subsequent to December 31, 2018 to the date these financial statements were available to be issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Organization, Operations and _2
Organization, Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Preparation of Financial Statements | Basis of Preparation of Financial Statements The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is December 31. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to uncertainties inherent in the estimation process, it is possible that these estimates could be materially revised within the next year. |
Cash and Cash Equivalents | Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments FASB ASC 820-10 “Fair Value Measurements” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This ASC also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. Level 2 Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable data by correlation or other means. Level 3 Inputs that are unobservable for the assets and liabilities. The carrying value of cash, accounts payable and accused expenses and notes payable-related party approximates their fair value due to their short-term maturity. |
Income Tax | Income tax The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carry forwards 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. The Company had no known material tax assets or liabilities as of December 31, 2018 or December 31, 2017. |
Revenue Recognition | 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. |
Products and Services, Geographic Areas and Major Customers | Products and services, geographic areas and major customers The Company derives revenue from the licensing of songs to the television and music industry. All fee revenues each year were domestic and to external customers. |
Advertising Costs | Advertising costs Advertising costs are expensed as incurred. The Company incurred no advertising cost during the years ended December 31, 2018 or 2017. |
Basic and Diluted Earnings (Loss) Per Share | Basic and Diluted Earnings (Loss) Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. During year ended December 31, 2018 or 2017, no potentially dilutive convertible notes payable issued and outstanding. The Company may raise additional capital through the sale of its equity securities, through an offering of debt securities, or through borrowings from financial institutions or related parties. By doing so, the Company hopes to generate sufficient capital to execute its business plan of licensing songs to the television and music industry for use in television shows or movies on an ongoing basis. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as a going concern. During the year ended December 31, 2017, the debt holders holding 90,000 shares declined to accept the 90,000 shares (see details of promissory note M and promissory note N below in note 3). |
Recent Accounting Pronouncements | Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | Year ended December 31, 2018 Year ended December 31, 2017 $ $ Federal income tax benefit attributable to: Current operations (5,322 ) (7,156 ) Less: change in valuation allowance 5,322 7,156 Net provision for Federal income taxes - - |
Schedule of Deferred Tax Assets and Liabilities | December 31, 2018 December 31, 2017 $ $ Deferred tax asset attributable to: Net operating loss carryover 28,440 23,118 Less: valuation allowance (28,440 ) (23,118 ) Net deferred tax asset - - |
Organization, Operations and _3
Organization, Operations and Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
State of Incorporation | Nevada | |
Date of Incorporation | Aug. 20, 2009 | |
Advertising costs | ||
Number of common stock declined to accept | 90,000 | |
Convertible Notes Payable [Member] | ||
Potentially dilutive shares |
Promissory Notes Payable - Re_2
Promissory Notes Payable - Related Party (Details Narrative) - USD ($) | Dec. 31, 2017 | Dec. 24, 2017 | Oct. 04, 2017 | Aug. 25, 2017 | Jun. 29, 2017 | Jun. 22, 2017 | Mar. 21, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Jul. 22, 2017 | Jul. 07, 2016 | Jun. 13, 2016 | May 06, 2016 | Feb. 16, 2016 | Sep. 14, 2015 | Jun. 11, 2015 | Mar. 30, 2015 | Jan. 21, 2015 | Dec. 31, 2014 |
Number of common stock declined to accept | 90,000 | ||||||||||||||||||
Note K [Member] | |||||||||||||||||||
Related party loan, amount | $ 4,920 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2017 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Note L [Member] | |||||||||||||||||||
Related party loan, amount | $ 1,500 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Convertible Promissory Note A [Member] | |||||||||||||||||||
Debt face amount | $ 3,255 | ||||||||||||||||||
Convertible Promissory Note B [Member] | |||||||||||||||||||
Debt face amount | $ 6,000 | ||||||||||||||||||
Convertible Promissory Note C [Member] | |||||||||||||||||||
Debt face amount | $ 3,260 | $ 6,000 | |||||||||||||||||
Note M [Member] | Venture Vest Capital Corporation [Member] | |||||||||||||||||||
Debt face amount | $ 12,515 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2017 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Number of common stock authorized to issue | 50,000 | ||||||||||||||||||
Number of common stock declined to accept | 50,000 | ||||||||||||||||||
Increase in paid in capital | $ 50 | $ 50 | |||||||||||||||||
Convertible Promissory Note E [Member] | |||||||||||||||||||
Debt face amount | $ 1,500 | ||||||||||||||||||
Note N [Member] | Terayco Enterprises Ltd [Member] | |||||||||||||||||||
Debt face amount | $ 7,500 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2017 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Number of common stock authorized to issue | 40,000 | ||||||||||||||||||
Number of common stock declined to accept | 40,000 | ||||||||||||||||||
Increase in paid in capital | $ 40 | 40 | |||||||||||||||||
Note P [Member] | |||||||||||||||||||
Related party loan, amount | $ 2,600 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Note Q [Member] | |||||||||||||||||||
Related party loan, amount | $ 6,323 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Convertible Promissory Note F [Member] | |||||||||||||||||||
Debt face amount | $ 5,703 | ||||||||||||||||||
Convertible Promissory Note G [Member] | |||||||||||||||||||
Debt face amount | $ 7,114 | ||||||||||||||||||
Convertible Promissory Note I [Member] | |||||||||||||||||||
Debt face amount | $ 300 | ||||||||||||||||||
Note R [Member] | Terayco Enterprises Ltd [Member] | |||||||||||||||||||
Debt face amount | $ 13,117 | $ 13,117 | |||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. | ||||||||||||||||||
Interest rate | 6.00% | 6.00% | |||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Number of common stock authorized to issue | 100,000 | 100,000 | |||||||||||||||||
Convertible Promissory Note J [Member] | |||||||||||||||||||
Debt face amount | $ 1,500 | ||||||||||||||||||
Note S [Member] | Venture Vest Capital Corporation [Member] | |||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it shall bear interest at the rate of 6% per annum and requires no periodic payment until maturity. | ||||||||||||||||||
Interest rate | 6.00% | 6.00% | |||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Number of common stock authorized to issue | 10,000 | 10,000 | |||||||||||||||||
Note T [Member] | |||||||||||||||||||
Related party loan, amount | $ 3,800 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Note U [Member] | |||||||||||||||||||
Related party loan, amount | $ 2,260 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Note V [Member] | |||||||||||||||||||
Related party loan, amount | $ 3,875 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 | ||||||||||||||||||
Note W [Member] | |||||||||||||||||||
Related party loan, amount | $ 4,500 | ||||||||||||||||||
Interest rate, description | The note is interest free until December 31, 2018 after which time it'll bear interest at 6%. | ||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||
Maturity date | Dec. 31, 2018 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Income Tax Disclosure [Abstract] | |
Net operating loss carry forwards | $ 110,086 |
Operating loss carryforwards, taxable income through the year | 2036 |
Federal corporate income tax rate | 21.00% |
Income tax rate descripiton | The Tax Cuts and Jobs Act was signed into law on December 22, 2017 and significantly changes tax law in the United States by, among other items, reducing the federal corporate income tax rate from a maximum of 34% to 21% (effective January 1, 2018). |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Federal income tax benefit attributable to: Current Operations | $ (5,322) | $ (7,156) |
Less: change in valuation allowance | 5,322 | 7,156 |
Net provision for Federal income taxes |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Income Tax Disclosure [Abstract] | ||
Deferred tax asset attributable to: Net operating loss carryover | $ 28,440 | $ 23,118 |
Less: valuation allowance | (28,440) | (23,118) |
Net deferred tax asset |
Other Related Party Transacti_2
Other Related Party Transactions (Details Narrative) - USD ($) | Mar. 19, 2018 | Dec. 31, 2017 | Dec. 31, 2018 |
Professional fees paid by a related party recorded as contributed capital | $ 1,000 | ||
Notes payable-related party | $ 64,410 | ||
Ms. Walker and Ms. Atwood [Member] | |||
Promissory notes paid, description | On March 19, 2018, all the Promissory Notes K through Promissory Note W, inclusive, were paid-in-full. |