| Document and Entity Information | 3 Months Ended |
| Mar. 31, 2017shares | |
| Document and Entity Information: | |
| Entity Registrant Name | Original Source Music, Inc. |
| Document Type | 10-Q |
| Document Period End Date | Mar. 31, 2017 |
| Trading Symbol | osmu |
| Amendment Flag | false |
| Entity Central Index Key | 1,639,836 |
| Current Fiscal Year End Date | --12-31 |
| Entity Common Stock, Shares Outstanding | 5,163,000 |
| Entity Filer Category | Smaller Reporting Company |
| Entity Current Reporting Status | Yes |
| Entity Voluntary Filers | No |
| Entity Well-known Seasoned Issuer | No |
| Document Fiscal Year Focus | 2,017 |
| Document Fiscal Period Focus | Q1 |
| Original Source Music, Inc. - Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | |
| Current Assets: | |||
| Cash and cash equivalents | $ 888 | $ 842 | |
| Total Currents Assets | 888 | 842 | |
| Total Assets | 888 | 842 | |
| Current Liabilities: | |||
| Accounts payable and accrued liabilities | 1,400 | 100 | |
| Convertible notes payable, related parties | [1] | 10,956 | 8,171 |
| Total Current Liabilities | 12,356 | 8,271 | |
| Notes payable, related parties | 29,035 | 26,435 | |
| Total Liabilities | 41,391 | 34,706 | |
| Stockholders' Deficit | |||
| Preferred stock | [2] | ||
| Common stock | [3] | 5,163 | 5,073 |
| Common stock payable | 90 | ||
| Additional paid-in capital | 36,980 | 36,980 | |
| Accumulated deficit | (82,646) | (76,007) | |
| Total Stockholders' Deficit | (40,503) | (33,864) | |
| Total Liabilities and Stockholders' Deficit | $ 888 | $ 842 | |
| [1] | Net of debt discount of $3,661 and $6,446, respectively | ||
| [2] | $0.001 par value; 5,000,000 shares authorized; none issued and outstanding | ||
| [3] | $0.001 par value; 45,000,000 shares authorized; 5,163,000 and 5,073,000 shares issued and outstanding, respectively | ||
| Statement of Financial Position - Parenthetical - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 |
| Statement of Financial Position | ||
| Preferred Stock, Par Value | $ 0.001 | $ 0.001 |
| Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
| Preferred Stock, Shares Issued | 0 | 0 |
| Preferred Stock, Shares Outstanding | 0 | 0 |
| Common Stock, Par Value | $ 0.001 | $ 0.001 |
| Common Stock, Shares Authorized | 45,000,000 | 45,000,000 |
| Common Stock, Shares Issued | 5,163,000 | 5,073,000 |
| Common Stock, Shares Outstanding | 5,163,000 | 5,073,000 |
| Original Source Music, Inc. - Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | ||
| Mar. 31, 2017 | Mar. 31, 2016 | ||
| Income Statement | |||
| Revenue | $ 121 | $ 102 | |
| Operating Expenses: | |||
| General and administrative | 175 | 125 | |
| Professional fees | 3,800 | 300 | |
| Total operating expenses | 3,975 | 425 | |
| Loss from operations | (3,854) | (323) | |
| Interest expense, related parties | (2,785) | (4,250) | |
| Loss before income taxes | (6,639) | (4,573) | |
| Provision for income taxes | |||
| Net loss | $ (6,639) | $ (4,573) | |
| Net loss per common share basic and diluted | [1] | $ 0 | $ 0 |
| Weighted average shares outstanding basic and diluted | 5,133,000 | 5,073,000 | |
| [1] | Denotes net loss per common share of less than $0.01 per share. | ||
| Original Source Music, Inc. - Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
| Mar. 31, 2017 | Mar. 31, 2016 | |
| Cash flows from operating activities: | ||
| Net loss | $ (6,639) | $ (4,573) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Amortization of debt discount | 2,785 | 4,015 |
| Accrued interest to related parties | 235 | |
| Changes in operating assets and liabilities: | ||
| Accounts payable and accrued liabilities, increase decrease | 1,300 | (5,402) |
| Net cash used in operating activities | (2,554) | (5,725) |
| Cash flows from investing activities: | ||
| Net cash provided by (used in) investing activities | ||
| Cash flows from financing activities: | ||
| Proceeds from issuance of convertible notes payable, related parties | 5,703 | |
| Proceeds from issuance of notes payable, related party | 2,600 | |
| Net cash provided by financing activities | 11,370 | 5,703 |
| Net increase (decrease) in cash and cash equivalents | 46 | (22) |
| Cash and cash equivalents at beginning of period | 842 | 1,838 |
| Cash and cash equivalents at end of period | 888 | 1,816 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid during the period for interest | ||
| Cash paid during the period for income taxes | ||
| Supplemental schedule of non-cash financing activities: | ||
| Beneficial conversion feature | $ 5,703 | |
| Note 1 - Interim Financial Statements | 3 Months Ended |
| Mar. 31, 2017 | |
| Notes | |
| Note 1 - Interim Financial Statements | Note 1 Interim Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required for audited annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the condensed consolidated financial statements not misleading have been included. The balance sheet at December 31, 2016, has been derived from the Companys audited consolidated financial statements as of that date. The unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and the notes thereto that are included in the Companys Annual Report on Form 10-K for the year ended December 31, 2016, that was filed with the SEC on April 28, 2017. The results of operations for the three months ended March 31, 2017, are not necessarily indicative of the results to be expected for the full year. |
| Note 2 - Going Concern | 3 Months Ended |
| Mar. 31, 2017 | |
| Notes | |
| Note 2 - Going Concern | Note 2 Going Concern The Companys financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. 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 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. |
| Note 3 - Summary of Significant Accounting Policies | 3 Months Ended |
| Mar. 31, 2017 | |
| Notes | |
| Note 3 - Summary of Significant Accounting Policies | Note 3 Summary of Significant Accounting Policies The significant accounting policies followed by the Company for interim reporting are consistent with those included in the Companys Annual Report on Form 10-K for the year ended December 31, 2016. There were no material changes to our significant accounting policies during the interim period ended March 31, 2017. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the FASB) issued guidance to clarify the principles for recognizing revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a comprehensive framework for revenue recognition that supersedes current general revenue guidance and most industry-specific guidance. In addition, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted. However, entities reporting under U.S. GAAP are not permitted to adopt the standard earlier than the original effective date of December 15, 2016. An entity should apply the guidance either retrospectively to each prior reporting period presented or retrospectively with the cumulative adjustment at the date of the initial application. The Company is currently in the process of evaluating the impact of adoption of the new accounting guidance on its consolidated financial statements and has not determined the impact of adoption on its consolidated financial statements. |
| Note 4 - Convertible Notes Payable - Related Parties | 3 Months Ended |
| Mar. 31, 2017 | |
| Notes | |
| Note 4 - Convertible Notes Payable - Related Parties | Note 4 Convertible Notes Payable Related Parties March 31, 2017 December 31, 2016 Convertible Note F Principal $ 5,703 $ 5,703 Debt Discount (1,267) Convertible Note G Principal $ 7,114 $ 7,114 Debt Discount (3,202) (4,269) Convertible Note I Principal $ 300 $ 300 Debt Discount (95) Convertible Note J Principal $ 1,500 $ 1,500 Debt Discount (459) (815) Total convertible notes payable to related parties, net of debt discounts $ 10,956 $ 8,171 Convertible Note F On February 16, 2016, a related party loaned the Company $5,703. The note matured on March 31, 2017, and was interest free until December 31, 2016, after which time it bore interest at 6%. On December 31, 2016, the note was amended to extend the maturity date and the interest-free period to December 31, 2017. The note is convertible at the option of the holder into shares of the Company's common stock at a conversion price of $0.002 per share. The Company assessed the embedded conversion feature and determined that the fair value of the underlying common stock at inception exceeded the conversion price of this note and, accordingly, recorded a beneficial conversion feature (capped at proceeds received) of $5,703. Such beneficial conversion feature is accounted for as a debt discount and is amortized to interest expense, using the straight line interest rate method, over the life of the note. Convertible Note G On May 6, 2016, a related party loaned the Company $7,114. The note matures on December 31, 2017. The note was interest free until December 31, 2016, after which time it bore interest at 6%. On December 31, 2016, the note was amended to extend the interest-free period to December 31, 2017. The note is convertible at the option of the holder into shares of the Company's common stock at a conversion price of $0.002 per share. The Company assessed the embedded conversion feature and determined that the fair value of the underlying common stock at inception exceeded the conversion price of the note and, accordingly, recorded a beneficial conversion feature (capped at proceeds received) of $7,114. Such beneficial conversion feature is accounted for as a debt discount and is amortized to interest expense, using the straight line interest rate method, over the life of the note. Convertible Note I On June 13, 2016, a related party loaned the Company $300. The note matured on March 31, 2017, and was interest free until December 31, 2016, after which time it bore interest at 6%. On December 31, 2016, the note was amended to extend the maturity date and the interest-free period to December 31, 2017. The note is convertible at the option of the holder into shares of the Company's common stock at a conversion price of $0.002 per share. The Company assessed the embedded conversion feature and determined that the fair value of the underlying common stock at inception exceeded the conversion price of this note and, accordingly, recorded a beneficial conversion feature (capped at proceeds received) of $300. Such beneficial conversion feature is accounted for as a debt discount and is amortized to interest expense, using the straight line interest rate method, over the life of the note. Convertible Note J On July 7, 2016, a related party loaned the Company $1,500. The note matures on July 30, 2017, and is interest free until June 30, 2017, after which time it bears interest at 6%. The note is convertible at the option of the holder into shares of the Company's common stock at a conversion price of $0.002 per share. The Company assessed the embedded conversion feature and determined that the fair value of the underlying common stock at inception exceeded the conversion price of this note and, accordingly, recorded a beneficial conversion feature (capped at proceeds received) of $1,500. Such beneficial conversion feature is accounted for as a debt discount and is amortized to interest expense, using the straight line interest rate method, over the life of the note. |
| Note 5 - Notes Payable - Related Parties | 3 Months Ended |
| Mar. 31, 2017 | |
| Notes | |
| Note 5 - Notes Payable - Related Parties | Note 5 Notes Payable - Related Parties 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 bears interest at 6%. The note matures on December 31, 2018, and requires no periodic payment until maturity. Note L On December 31, 2016, a related party loaned the Company $1,500. The note is interest free until December 31, 2017, after which time bears interest at 6%. The note matures on December 31, 2018, and requires no periodic payment until maturity. Note M On December 31, 2016, three convertible notes payable, totaling $12,515, due to a related party were cancelled, and a new single promissory note payable in the amount of $12,515 was issued to replace the three convertible notes. The new promissory note is due on or before December 31, 2018. The note is interest free until December 31, 2017, after which time it bears interest at 6% per annum and requires no periodic payment until maturity. On January 30, 2017, 50,000 shares of the Company's common stock was issued to the related party in exchange for signing of the non-convertible promissory note valued at par. Note N On December 31, 2016, two convertible notes payable, totaling $7,500, due to a related party were cancelled, and a new single promissory note payable in the amount of $7,500 was issued to replace the two convertible notes. The new promissory note is due on or before December 31, 2018. The note is interest free until December 31, 2017, after which time it bears interest at 6% per annum and requires no periodic payment until maturity. On January 30, 2017, 40,000 shares of the Company's common stock was issued to the related party in exchange for signing of the non-convertible promissory note valued at par. Note P On March 21, 2017, a related party loaned the Company $2,600. The note is interest free until December 31, 2017, after which time bears interest at 6%. The note matures on December 31, 2018, and requires no periodic payment until maturity. |
| Note 6 - Subsequent Events | 3 Months Ended |
| Mar. 31, 2017 | |
| Notes | |
| Note 6 - Subsequent Events | Note 6 Subsequent Events The Company has evaluated subsequent events through the date of the filing of this interim report on Form 10-Q. Based on this evaluation, the Company did not identify any significant subsequent events that would have a material effect on the consolidated financial statements, which would require an adjustment and/or additional disclosure. |
| Note 3 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 3 Months Ended |
| Mar. 31, 2017 | |
| Policies | |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the FASB) issued guidance to clarify the principles for recognizing revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a comprehensive framework for revenue recognition that supersedes current general revenue guidance and most industry-specific guidance. In addition, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted. However, entities reporting under U.S. GAAP are not permitted to adopt the standard earlier than the original effective date of December 15, 2016. An entity should apply the guidance either retrospectively to each prior reporting period presented or retrospectively with the cumulative adjustment at the date of the initial application. The Company is currently in the process of evaluating the impact of adoption of the new accounting guidance on its consolidated financial statements and has not determined the impact of adoption on its consolidated financial statements. |
| Note 4 - Convertible Notes Payable - Related Parties: Convertible Debt (Tables) | 3 Months Ended |
| Mar. 31, 2017 | |
| Tables/Schedules | |
| Convertible Debt | March 31, 2017 December 31, 2016 Convertible Note F Principal $ 5,703 $ 5,703 Debt Discount (1,267) Convertible Note G Principal $ 7,114 $ 7,114 Debt Discount (3,202) (4,269) Convertible Note I Principal $ 300 $ 300 Debt Discount (95) Convertible Note J Principal $ 1,500 $ 1,500 Debt Discount (459) (815) Total convertible notes payable to related parties, net of debt discounts $ 10,956 $ 8,171 |
| Note 4 - Convertible Notes Payable - Related Parties: Convertible Debt (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
| Convertible Notes Payable | $ 10,956 | $ 8,171 |
| Convertible Note F | ||
| Convertible Notes Payable Principal | 5,703 | 5,703 |
| Convertible Debt Discount1 | (1,267) | |
| Convertible Note G | ||
| Convertible Notes Payable Principal | 7,114 | 7,114 |
| Convertible Debt Discount1 | (3,202) | (4,269) |
| Convertible Note I | ||
| Convertible Notes Payable Principal | 300 | 300 |
| Convertible Debt Discount1 | (95) | |
| Convertible Note J | ||
| Convertible Notes Payable Principal | 1,500 | 1,500 |
| Convertible Debt Discount1 | $ (459) | $ (815) |
