Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Mar. 31, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | Vet Online Supply Inc. | |
Entity Central Index Key | 1,641,751 | |
Document Type | 10-K | |
Document Period End Date | Dec. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 50,000,000 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,015 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash and cash equivalents | $ 1,870 | $ 364 |
Deferred offering costs | 12,500 | |
Other receivable | 177 | |
Total current assets | 14,547 | $ 364 |
TOTAL ASSETS | 14,547 | 364 |
Current liabilities | ||
Accounts payable | 18,641 | 311 |
Accounts payable, related parties | 12,000 | 7,000 |
Convertible notes payable | 50,000 | $ 50,000 |
Promissory notes payable, related party | 7,736 | |
Total current liabilities | 88,377 | $ 57,311 |
Total liabilities | $ 88,377 | $ 57,311 |
Stockholders equity (deficit) | ||
Preferred stock, $0.001 par value: Authorized: 10,000,000 Preferred shares, no shares issued and outstanding | ||
Common stock, $0.001 par value: shares authorized 90,000,000; 60,000,000 shares issued and 50,000,000 shares outstanding as of December 31, 2015 and 10,000,000 shares issued and outstanding as of December 31,2014 | $ 60,000 | $ 10,000 |
Treasury stock, at cost (10,000,000 shares at $0.0001) | (1,000) | |
Additional paid in capital | 30,150 | $ 5,150 |
Accumulated deficit | (162,980) | (72,097) |
Total stockholders deficit | (73,830) | (56,947) |
TOTAL LIABILITIES & EQUITY | $ 14,547 | $ 364 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ .001 |
Common stock, authorized | 90,000,000 | 90,000,000 |
Common stock, issued | 60,000,000 | 10,000,000 |
Common stock, outstanding | 50,000,000 | 10,000,000 |
Treasury stock, value | $ (1,000) | |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, issued | ||
Preferred stock, outstanding |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | ||
Net sales | $ 3,681 | $ 1,008 |
Cost of goods sold | (2,881) | (925) |
Gross profit | 800 | 83 |
Selling, general and administrative expenses | $ (111,163) | (22,180) |
Participation fee, reseller agreement | (50,000) | |
Income (loss) from operations | $ (110,363) | $ (72,097) |
Gain from cancelation of convertible note | 19,480 | |
Net (loss) | $ (90,883) | $ (72,097) |
Net (loss) per common shares (basic and diluted) | $ 0 | $ 0 |
Weighted average shares outstanding - Basic and diluted | 36,739,726 | 10,000,000 |
Shareholders Equity
Shareholders Equity - USD ($) | Common Stock | Treasury Stock | Preferred Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, amount at May. 31, 2014 | ||||||
Beginning balance, in shares at May. 31, 2014 | ||||||
Issuance of common stock for services, amount | $ 10,000 | $ 5,150 | $ 15,150 | |||
Issuance of common stock for services, in shares | 10,000,000 | |||||
Net loss | $ (72,097) | (72,097) | ||||
Ending balance, amount at Dec. 31, 2014 | $ 10,000 | 5,150 | (72,097) | $ (56,947) | ||
Ending balance, in shares at Dec. 31, 2014 | 10,000,000 | 10,000,000 | ||||
Issuance of common stock for services, amount | $ 50,000 | 25,000 | $ 75,000 | |||
Shares returned to treasury, amount | $ (1,000) | (1,000) | ||||
Shares returned to treasury, shares | (10,000,000) | |||||
Net loss | (90,883) | (90,883) | ||||
Ending balance, amount at Dec. 31, 2015 | $ 60,000 | $ (1,000) | $ 30,150 | $ (162,980) | $ (73,830) | |
Ending balance, in shares at Dec. 31, 2015 | 50,000,000 | 50,000,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Flows From Operating Activities | ||
Net loss | $ (90,883) | $ (72,097) |
Adjustments to reconcile net income to net cash provided from operating activities: | ||
Shares issued for services | $ 75,000 | 15,150 |
Reseller fee settled with convertible promissory note | $ 50,000 | |
Gain on waiver of convertible notes payable | $ (19,480) | |
Changes in operating assets and liabilities: | ||
Deferred offering costs | (12,500) | |
Accounts payable | 18,330 | $ 311 |
Accounts payable, related party | 5,000 | $ 7,000 |
Other receivable | (177) | |
Net cash provided( used by) operating activities | (24,710) | $ 364 |
Cash Flows From Financing Activities | ||
Cash repurchase of issued shares | (1,000) | |
Convertible notes payable | 19,480 | |
Promissory notes payable | 7,736 | |
Net cash provided from financing activities | 26,216 | |
Increase (decrease) in cash and cash equivalents | 1,506 | $ 364 |
Cash and cash equivalents at beginning of period | 364 | |
Cash and cash equivalents at end of period | $ 1,870 | $ 364 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Activity: During August 2015 the Company filed amended articles with the Florida Secretary of State to: - Set a series of preferred stock, each one share being convertible into one share of common stock and with no voting rights; - Set par value for each of the preferred and common stock at $0.001 per share. These financial statements include the retroactive application of this amendment. To date, our activities have been limited to formation, the raising of equity capital, and the development of a business plan. We have engaged a legal consulting firm to assist us in registering securities for trading by filing a Form S-1 with the U.S. Securities and Exchange Commission and by applying for a listing on the OTC Bulletin Board. We are now exploring sources of capital. In the current development stage, we anticipate incurring operating losses as we implement our business plan. Financial Statement Presentation: Fiscal year end: Use of Estimates: Cash Equivalents: Revenue recognition and related allowances: Accounts Receivable and Allowance for Doubtful Accounts: Inventories: Warranty: Advertising and Marketing Costs: Income taxes: Basic and Diluted Loss Per Share New Accounting Pronouncements: In November 2015, the FASB issued ASU No. 2015-17, "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes." On September 25, 2015, the FASB issued Accounting Standards Update, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. The amendments are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted for financial statements that have not been issued. This amendment will not have a material impact on our financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The new standard will require debt issuance costs to be presented on the balance sheet as a direct reduction of the carrying value of the associated debt liability, consistent with the presentation of debt discounts. Currently, debt issuance costs are presented as a deferred asset. The recognition and measurement requirements will not change as a result of this guidance. The standard is effective for the annual reporting periods beginning after December 15, 2015 and will be applied on a retrospective basis. This amendment will not have a material impact on our financial statements. |
Note 2 - Going Concern
Note 2 - Going Concern | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Note 2 - Going Concern | 2. GOING CONCERN The Company has experienced net losses to date, and it has not generated revenue from operations, we will need additional working capital to service debt and for ongoing operations, which raises substantial doubt about its ability to continue as a going concern. Management of the Company has developed a strategy to meet operational shortfalls which may include equity funding, short term or long term financing or debt financing, to enable the Company to reach profitable operations. |
Note 3 - Deferred Offering Cost
Note 3 - Deferred Offering Costs | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Note 3 - Deferred Offering Costs | 3. DEFERRED OFFERING COSTS The Company has filed a Form S-1 Registration Statement to offer to the public up to 6,000,000 common shares at ten cents ($0.10) per share. The $12,500 in costs relating to such Registration Statement will be charged to capital, if such offering is successful. If the offering is not successful, the costs will be charged to expense. Presently the costs are reflected on the balance sheets of the Company as Deferred offering costs. |
Note 4 - Reseller Agreement and
Note 4 - Reseller Agreement and Promissory Note | 12 Months Ended |
Dec. 31, 2015 | |
Other Liabilities Disclosure [Abstract] | |
Note 4 - Reseller Agreement and Promissory Note | 4. RESELLER AGREEMENT AND PROMISSORY NOTE On June 1, 2014 the Company entered into a Reseller Agreement with Concord Veterinary Supplies Inc. Concord whereunder Concord has authorized the non-exclusive right to Vet Online Supply, Inc. to market, promote, advertise, sell, distribute and deliver, veterinary products carried by Concord Veterinary Supply, which are listed on www.concord-surgical.com, for a one-time fee of $50,000. The fee payable has been secured by an interest free convertible promissory note (the Note) due within ninety (90) days of the Company getting notice of effect from its S-1 Registration Statement as filed with the Securities and Exchange Commission, which occurred December 22, 2015. At any time prior to maturity of the Note, Concord Veterinary Supply may elect to convert the debt amount into shares of the common stock of the Company at a fixed price of $0.10 per share. There is no beneficial conversion feature resulting from the conversion price compared to market price. |
Note 5 - Common and Preferred S
Note 5 - Common and Preferred Stock | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Note 5 - Common and Preferred Stock | 5. COMMON AND PREFERRED STOCK The Company has authorized 10,000,000 shares of preferred stock with par value of $0.001 and 90,000,000 shares of common stock, with par value of $0.001. Each one share of preferred stock is convertible into one share of common stock, and preferred stock carries no voting rights. As of December 31, 2015 and 2014, no preferred shares were issued and outstanding. Common Shares issued during the year ended December 31, 2015: On May 1, 2015, Mr. Minsky returned 10,000,000 shares of the Company issued for services provided during fiscal 2014 in exchange for $1,000. The shares were returned to treasury and the Company posted as treasury stock in the amount of $1,000 using the cost method. On May 1, 2015 a signing bonus in the amount of $75,000 payable by way of 50,000,000 shares of the Companys common stock as determined by the Companys board of directors, was issued to our sole officer and director, Mr. Edward Aruda. Common Shares issued during the year ended December 31, 2014: Effective December 31, 2014 the Company issued 10,000,000 shares of common stock as consideration for invoiced services provided valued at $15,150 to our former officer and director, Mr. Harold Minsky. As at December 31, 2015, there were 60,000,000 shares issued and 50,000,000 shares outstanding, and as at December 31, 2014 we had 10,000,000 common shares issued and outstanding. |
Note 6 - Website Development Ag
Note 6 - Website Development Agreement | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Note 6 - Website Development Agreement | 6. WEBSITE DEVELOPMENT AGREEMENT On March 1, 2015, the Company signed an engagement with a third party whereby the third party will provide design, technical development and interactive media services on the existing website running on the commerce platform for increased sales objectives. A flat fee of $15,000 payable upon signing the engagement, has been expensed in the current period and is included on the balance sheets as accounts payable. |
Note 7 - Related Party Transact
Note 7 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Note 7 - Related Party Transactions | 7. RELATED PARTY TRANSACTIONS (1) Mr. Harold Minsky On December 31, 2014 Mr. Minsky agreed to act as our President, Chief Executive Officer, and Director to manage the affairs of the Company for a one (1) year period (the Term) under an employment agreement beginning on the Effective Date, and thereafter the Term shall be automatically extended for successive one-year periods unless and until such time as either Mr. Minsky or the Company shall give written notice to the other at least 30 days prior to the expiration of the then current Term that no such automatic extension shall occur. In exchange, Mr. Minsky shall continue to receive a monthly fee of $1,000 per calendar month. On May 1, 2015, the Company received the resignation of the President and sole director, Mr. Harold Minsky. In addition, Mr. Minsky concurrently agreed to return 10,000,000 shares of the Company issued for services provided in exchange for $1,000 effective as of the date of his resignation. During the year ended December 31, 2015 a total of $11,000 has been accrued in respect of the aforementioned agreement. As of December 31, 2015, $12,000 is reflected on the Companys balance sheet as accounts payable related party (December 31, 2014 - $7,000). (2) Mr. Edward Aruda On May 1, 2015 Mr. Edward Aruda was appointed to serve as President, CEO and Director of the Company to manage the affairs of the Company for a one (1) year period (the Term) under a management agreement beginning on the Effective Date, and thereafter the Term may be renewable for six months unless and until such time as either Mr. Edward Aruda or the Company shall give written notice to the other at least 30 days prior to the expiration of the then current Term that no such automatic extension shall occur. In exchange, a signing bonus in the amount of $75,000 payable by way of 50,000,000 shares of the Companys common stock was issued as fully paid an non assessable to Mr. Aruda effective as of the date of the agreement. On December 31, 2015, the Company issued a Promissory Note in the principal amount of $7,736 to Mr. Edward Aruda, to evidence various funds previously advanced by Mr. Aruda to the Company during the year ended December 31, 2015 in order to settle certain accounts as they came due. The Promissory Note bears interest at 10% per annum and is due and payable on December 1, 2016. |
Note 8 - Convertible Promissory
Note 8 - Convertible Promissory Notes | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Note 8 - Convertible Promissory Notes | 8. CONVERTIBLE PROMISSORY NOTES On June 30, 2015 and on September 29, 2015, the Company issued Convertible Promissory Notes, in the principal amount of $16,240 and $3,240, respectively to Kensington Marketing LLC, to evidence various funds previously advanced by Kensington Marketing LLC to the Company during the nine months ended September 30, 2015. The Convertible Promissory Note is interest free and due and payable on within ninety (90) days of the Company getting notice of effect from its S-1 Registration Statement as filed with the Securities and Exchange Commission, and was received on December 22, 2015. At any time prior to the maturity of the Convertible Promissory Note, Kensington Marketing LLC may elect to convert the debt amount into shares of the common stock of the Company at a fixed price of $0.10 per share. There is no beneficial conversion feature resulting from the conversion price compared to market price. Subsequent to the fiscal year end Kensington Marketing LLC agreed to forgive the aforementioned convertible notes for no consideration, and waived its rights to conversion. Kensington Marketing provided the Company with a form of Waiver and Release in the full principal amount of $19,480. This transaction has been impacted as at December 31, 2015 and a total of $19,480 has been reflected as a gain on the Companys statements of operations. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Note 9 - Income Taxes | 9. INCOME TAXES Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Companys assets and liabilities. Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Companys tax return. Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. Operating loss carry-forwards generated during the period from May 25, 2014 (date of inception) through December 31, 2015 of approximately $162,980, will begin to expire in 2034. The Company applies a statutory income tax rate of 34%. Accordingly, deferred tax assets related to net operating loss carry-forwards total approximately $55,400 at December 31, 2015. For the year ended December 31 2015, the valuation allowance increased by approximately $30,900. The Company had deferred income tax assets as of December 31, 2015 and 2014 as follows: December 31, 2015 December 31, 2014 Loss carryforwards $ 55,400 $ 24,500 Less - valuation allowance (55,400 ) (24,500 ) Total net deferred tax assets $ - $ - |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Note 10 - Subsequent Events | 10. SUBSEQUENT EVENTS Subsequent to the fiscal year end Kensington Marketing LLC agreed to forgive certain Convertible Promissory Notes (ref Note 8 above) for no consideration, and waived its rights to conversion. This transaction has been recorded as though it had occurred as at December 31, 2015. The Company has evaluated subsequent events from the balance sheet date through the date that the financial statements were issued and determined that there are no additional subsequent events to disclose. |
Note 1 - Basis of Presentatio17
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Business Activity | Business Activity: |
Financial Statement Presentation | Financial Statement Presentation: |
Fiscal year end | Fiscal year end: |
Use of estimates | Use of Estimates: |
Cash equivalents | Cash Equivalents: |
Revenue recognition | Revenue recognition and related allowances: |
Accounts receivable and allowance for doubtful accounts | Accounts Receivable and Allowance for Doubtful Accounts: |
Inventories | Inventories: |
Warranty | Warranty: |
Advertising and marketing costs | Advertising and Marketing Costs: |
Income taxes | Income taxes: |
Basic and diluted loss per share | Basic and Diluted Loss Per Share |
New Accounting Pronouncements: | New Accounting Pronouncements: In November 2015, the FASB issued ASU No. 2015-17, "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes." On September 25, 2015, the FASB issued Accounting Standards Update, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. The amendments are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted for financial statements that have not been issued. This amendment will not have a material impact on our financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The new standard will require debt issuance costs to be presented on the balance sheet as a direct reduction of the carrying value of the associated debt liability, consistent with the presentation of debt discounts. Currently, debt issuance costs are presented as a deferred asset. The recognition and measurement requirements will not change as a result of this guidance. The standard is effective for the annual reporting periods beginning after December 15, 2015 and will be applied on a retrospective basis. This amendment will not have a material impact on our financial statements. |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Deferred Income Tax Assets at December 31, 2015 and 2014 | December 31, 2015 December 31, 2014 Loss carryforwards $ 55,400 $ 24,500 Less - valuation allowance (55,400 ) (24,500 ) Total net deferred tax assets $ - $ - |
Note 1 - Basis of Presentatio19
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) | 12 Months Ended | |
Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / shares | |
Accounting Policies [Abstract] | ||
Common stock, par value | $ / shares | $ 0.001 | $ .001 |
Preferred stock, par value | $ / shares | $ 0.001 | $ 0.001 |
Cash Equivlent term, days | 90 | 90 |
Allowance for doubtful accounts | $ | ||
Advertising and marketing costs | $ | $ 15,000 |
Note 3 - Deferred Offering Co20
Note 3 - Deferred Offering Costs (Details Narrative) | 12 Months Ended |
Dec. 31, 2015USD ($)$ / sharesshares | |
Accounting Policies [Abstract] | |
Commmon shares being offered | shares | 6,000,000 |
Price per share | $ / shares | $ .10 |
Offering costs | $ | $ 12,500 |
Note 4 - Reseller Agreement a21
Note 4 - Reseller Agreement and Promissory Note (Details Narrative) | 12 Months Ended |
Dec. 31, 2015USD ($)$ / shares | |
Other Liabilities Disclosure [Abstract] | |
Reseller fee | $ | $ 50,000 |
Terms of promissory note | The fee payable has been secured by an interest free convertible promissory note (the Note) due within ninety (90) days of the Company getting notice of effect from its S-1 Registration Statement as filed with the Securities and Exchange Commission, which occurred December 22, 2015 |
Conversion rate, price per share | $ / shares | $ .10 |
Note 5 - Common and Preferred22
Note 5 - Common and Preferred Stock (Details Narrative) - USD ($) | Dec. 31, 2015 | May. 01, 2015 | Dec. 31, 2014 |
Equity [Abstract] | |||
Common stock, par value | $ 0.001 | $ .001 | |
Common stock, authorized | 90,000,000 | 90,000,000 | |
Common stock, issued | 60,000,000 | 10,000,000 | |
Common stock, outstanding | 50,000,000 | 10,000,000 | |
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Preferred stock, authorized | 10,000,000 | 10,000,000 | |
Preferred stock, issued | |||
Preferred stock, outstanding | |||
Shares issued to Minsky for services, shares | 10,000,000 | ||
Shares issued to Minsky for services, value | $ 15,150 | ||
Repurchase of shares from Minsky, value | $ 1,000 | ||
Treasury stock, value | $ (1,000) | ||
Shares issued to Aruda as signing bonus | 50,000,000 | ||
Value, shares issued Aruda as signing bonus | $ 75,000 |
Note 6 - Website Development 23
Note 6 - Website Development Agreement (Details Narrative) | Mar. 01, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Fee payable for website development | $ 15,000 |
Note 7 - Related Party Transa24
Note 7 - Related Party Transactions (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | May. 01, 2015 | Dec. 31, 2014 | |
Harold Minsky | |||
Monthly fee payable to Minsky | $ 1,000 | ||
Shares issued to Minsky for services, shares | 10,000,000 | ||
Repurchase of shares from Minsky, value | $ 1,000 | ||
Accruals for services | $ 11,000 | ||
Accounts payable, related parties | 12,000 | $ 7,000 | |
Edward Aruda | |||
Value, shares issued Aruda as signing bonus | $ 75,000 | ||
Shares issued to Aruda as signing bonus | 50,000,000 | ||
Promissory notes payable, related party | $ 7,736 | ||
Interest rate | 10.00% |
Note 8 - Convertible Promisso25
Note 8 - Convertible Promissory Notes (Details Narrative) - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Sep. 29, 2015 | Jun. 30, 2015 | |
Debt Disclosure [Abstract] | ||||
Note proceeds | $ 3,240 | $ 16,240 | ||
Interest rate | ||||
Conversion rate, price per share | $ 0.10 | $ 0.10 | ||
Terms of Convertbile Note | The Convertible Promissory Note is interest free and due and payable on within ninety (90) days of the Company getting notice of effect from its S-1 Registration Statement as filed with the Securities and Exchange Commission, and was received on December 22, 2015. At any time prior to the maturity of the Convertible Promissory Note, Kensington Marketing LLC may elect to convert the debt amount into shares of the common stock of the Company at a fixed price | |||
Gain from cancelation of convertible note | $ 19,480 |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Income Tax Assets at December 31, 2015 and 2014 (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Loss carryforwards | $ 55,400 | $ 24,500 |
Less - valuation allowance | $ 55,400 | $ 24,500 |
Total net deferred tax assets |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Cummulative loss carry-forward | $ 162,980 | |
Year operating losses expire | Jan. 1, 2034 | |
Income tax rate | 3400.00% | |
Net operating loss carry-forwards | $ 55,400 | $ 24,500 |
Increase to valuation allowance | $ 30,900 |