Document and Entity Information
Document and Entity Information | 9 Months Ended |
Jun. 30, 2017shares | |
Document and Entity Information: | |
Entity Registrant Name | GRCR Partners Inc |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2017 |
Trading Symbol | grcr |
Amendment Flag | false |
Entity Central Index Key | 1,661,600 |
Current Fiscal Year End Date | --09-30 |
Entity Common Stock, Shares Outstanding | 2,926,500 |
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 | Q3 |
GRCR PARTNERS INC. - Condensed
GRCR PARTNERS INC. - Condensed Balance Sheets - USD ($) | Jun. 30, 2017 | Sep. 30, 2016 | |
Current Assets: | |||
Cash or cash equivalents | $ 8,943 | $ 13,973 | |
Accounts receivable, net | 10,500 | ||
Total Currents Assets | 19,443 | 13,973 | |
Fixed assets, net | 838 | ||
Total Assets | 19,443 | 14,811 | |
Current Liabilities: | |||
Accounts payable and accrued expenses | 17,206 | 15,129 | |
Accrued taxes | 320 | 320 | |
Accrued interest | 871 | ||
Note payable | 25,000 | ||
Total Current Liabilities | 43,397 | 15,449 | |
Total Liabilities | 43,397 | 15,449 | |
Commitments and Contingencies | |||
Stockholders' Deficit | |||
Preferred stock | [1] | ||
Common stock | [2] | 293 | 1,735 |
Additional paid-in capital | 55,082 | $ 16,740 | |
Common stock subscribed | 36,400 | ||
Retained deficit | (79,329) | $ (55,513) | |
Total Stockholders' Deficit | (23,954) | (638) | |
Total Liabilities and Stockholders' Deficit | $ 19,443 | $ 14,811 | |
[1] | $0.0001 par value, 15,000,000 shares authorized, none issued and outstanding. | ||
[2] | $0.0001 par vaue, 500,000,000 shares authorized, 2,926,500 and 17,347,500 shares issued and outstanding as of June 30, 2017 and September 30, 2016 |
Statement of Financial Position
Statement of Financial Position - Parenthetical - $ / shares | Jun. 30, 2017 | Sep. 30, 2016 |
Statement of Financial Position | ||
Preferred Stock, Par Value | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 15,000,000 | 15,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par Value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares Issued | 2,926,500 | 17,347,500 |
Common Stock, Shares Outstanding | 2,926,500 | 17,347,500 |
GRCR PARTNERS INC. - Condensed4
GRCR PARTNERS INC. - Condensed Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenues: | ||||
Professional service revenues | $ 16,000 | $ 21,500 | $ 25,000 | $ 119,000 |
Expense reimbursement | 2,765 | 7,500 | ||
Total Revenues | 16,000 | 24,265 | 25,000 | 126,522 |
Cost of revenues | 5,500 | 14,000 | 10,000 | 75,500 |
Cost of revenues from a related party | 2,000 | 2,800 | 2,000 | 7,200 |
Gross Profit | 8,500 | 7,465 | 13,000 | 43,822 |
Operating Expenses: | ||||
Stock based compensation | 3,475 | |||
Depreciation | 0 | 419 | 838 | 1,257 |
General and administrative | 5,493 | 20,231 | 34,107 | 92,168 |
General and administrative costs from a related party | 1,000 | 1,000 | ||
Total operating expenses | 6,493 | 20,650 | 35,945 | 96,900 |
Income (loss) from operations | 2,007 | (13,185) | (22,945) | (53,078) |
Other expenses | ||||
Interest expense | 748 | 871 | ||
Total other expenses | 748 | 871 | ||
Net income (loss) before taxes | 1,259 | (13,185) | (23,816) | (53,078) |
Income tax (benefit) | (3,279) | |||
Net income (loss) applicable to common shareholders | $ 1,259 | $ (13,185) | $ (23,816) | $ (49,799) |
Net income (loss) per shares - basic and diluted | $ 0 | $ 0 | $ (0.01) | $ 0 |
Weighted number of shares outstanding - basic and diluted | 2,926,500 | 17,347,500 | 4,695,379 | 17,189,025 |
GRCR PARTNERS INC. - Condensed5
GRCR PARTNERS INC. - Condensed Statements of Cash Flows - USD ($) | 9 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net (loss) | $ (23,816) | $ (49,799) |
Adjustments to reconcile loss to cash used in operating activities: | ||
Stock based compensation | 3,475 | |
Depreciation | 838 | 1,257 |
Changes in operating assets and liabilities: | ||
Accounts receivable, increase decrease | (10,500) | 8,972 |
Prepaid expenses, increase decrease | 5,000 | |
Accrued interest expense, increase decrease | 871 | |
Accounts payable and accrued expenses, increase decrease | 2,077 | 17,003 |
Income tax payable, increase decrease | (3,599) | |
Net cash used in operating activities | (30,530) | (17,691) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of common stock | 500 | |
Proceeds from issuance of note payable | 25,000 | |
Net cash provided by financing activities | 25,500 | |
Net decrease in cash | (5,030) | 17,691 |
Cash and cash equivalents at beginning of period | 13,973 | 18,483 |
Cash and cash equivalents at end of period | 8,943 | 792 |
Supplemental disclosure of cash flow information | ||
Cash paid for interest | ||
Cash paid for income taxes |
Note 1. The Company History and
Note 1. The Company History and Nature of The Business | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
Note 1. The Company History and Nature of The Business | Note 1. The Company History and Nature of the Business GRCR Partners Inc. (the Company, Our or We), formed on January 16, 2015, is a provider of corporate governance, risk management, compliance and regulatory reporting (GRCR) solutions for businesses (GRCR Solutions). Currently, we provide GRCR Solutions through professional consulting services on a project-based fee arrangement. We deliver our services following our proprietary compliance architecture methodology. The skilled application of the fundamental principles governing compliance and risk management is what we call compliance architecture. We are building-out our Compliance Architecture Platform (CAP) to be an automated GRCR management tool that streamlines the process of GRCR for businesses. We believe that by combining expert consulting and GRCR software tools, we will help clients cost effectively build and maintain GRCR programs that reduce day-to-day and long-term risks in their work environment. The financial statements have been prepared using accounting principles generally accepted in the United States of America applicable for a going concern, which assumes that the Company will realize its assets and discharge its liabilities in the ordinary course of business. Since inception, the Company has a retained deficit of $79,329 and had a working capital deficit of $23,954 at June 30, 2017. Although we had income for the quarter ended June 30, 2017, our growth is dependent upon achieving more sales growth, management of operating expenses and ability of the Company to obtain the necessary financing to fund future obligations and pay liabilities arising from normal business operations when they come due, and upon profitable operations. Management has concluded that due to the conditions described above, there is substantial doubt about the entitys ability to continue as a going concern through August 14, 2018. We have evaluated the significance of these conditions in relation to our ability to meet our obligations and believe that we may need to either borrow funds from our majority shareholder or raise additional capital through equity or debt financings. We expect our current majority shareholder will be willing and able to provide such additional capital. However, we cannot be certain that such capital (from our shareholders or third parties) will be available to us or whether such capital will be available on terms that are acceptable to us. Any such financing likely would be dilutive to existing stockholders and could result in significant financial operating covenants that would negatively impact our business. If we are unable to raise sufficient additional capital on acceptable terms, we will have insufficient funds to operate our business or pursue our planned growth. |
Note 2. Summary of Significant
Note 2. Summary of Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
Note 2. Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Basis of Presentation and Organization The accompanying financial statements of the Company were prepared from the accounts of the Company under the accrual basis of accounting. The balance sheet at September 30, 2016 was derived from audited financial statements but does not include all disclosures required by accounting principals generally accepted in the United States of America. The other information in these condensed financial statements is unaudited but, in the opinion of management, reflects all adjustments necessary for the fair presentation of the results for the periods covered. These financial statements should be read in conjunction with the financial statements and additional information as contained in our Form 10K for the year ended September 30, 2016. Cash and Cash Equivalents For purposes of reporting within the statement of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. The Companys cash and cash equivalents are located in a United States bank. The Company does not have any cash equivalents as of June 30, 2017 or September 30, 2016. Accounts Receivable The Companys accounts receivables are derived from direct customers. Collateral is not required for accounts receivable. The Company maintains an allowance for potential credit losses as considered necessary. The Company performs ongoing reviews of all customers that have breached their payment terms or for whom information has become available indicating a risk of non-recoverability. The Company records an allowance for bad debts for specific customers identified as well as an allowance based on its historical collection experience. The Companys evaluation of the allowance for potential credit losses requires the use of estimates and the actual results may differ from these estimates. At June 30, 2017 and September 30, 2016, the allowance for potential credit losses was $0. Fixed Assets Office equipment is stated at cost and depreciated over three years using the straight-line method of accounting. For the three and nine months ended June 30, 2017, and 2016, the company recorded depreciation expense of $0 and $419, and $838 and $1,257, respectively. Revenue Recognition The Company derives its revenue from the sale of compliance, legal, risk management and management and public reporting consulting services. The Company utilizes written contracts as the means to establish the terms and condition services are sold to customers. Consulting Services Because the Company provides its applications as services, it follows the provisions of Accounting Standards Codification No.605, Revenue Recognition. there is persuasive evidence of an arrangement; the service has been provided to the customer; the collection of the fees is reasonably assured; and the amount of fees to be paid by the customer is fixed or determinable. The Company recognizes revenue as services are performed or monthly based upon contract terms. Contracts may either be for a specific project, or, a monthly recurring fee. Reimbursements The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue in its Statement of Operations. Net Income (Loss) per Common Share Basic income (loss) per share is computed by dividing the net income (loss) attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Fully diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the periods ended June 30, 2017 or 2016. Income Taxes The Company accounts for income taxes pursuant to FASB ASC 740. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences. The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Companys financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws. Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimates. Fair Value of Financial Instruments The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of June 30, 2017 the carrying value of accounts receivable, accounts payable-trade and accrued liabilities approximated fair value due to the short-term nature and maturity of these instruments. Customer Concentration Disclosure. For the three months ended June 30, 2017 and 2016, three and one customers made up 94% of our revenue, respectively. Those customers represented 38%, 38% and 19% for three months ended June 30, 2017 and 94% for the three months ended June 30, 2016. For the nine months ended June 30, 2017 and 2016, three customers made up 96% and 78% of our revenue, respectively. Those customers represented 40%, 40% and 16% for nine months ended June 30, 2017 and 28%, 26% and 24% for the nine months ended June 30, 2016. There were no customers present in both periods. Stock-Based Compensation Stock compensation arrangements with non-employee service providers are accounted for in accordance ASC 505-50 Equity-Based Payments to Non-Employees, Estimates The financial statements are prepared on the basis of accounting principles generally accepted in the United States. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and expenses. Actual results could differ from those estimates made by management. Recent accounting pronouncements In March 2016, the Financial Accounting Standards Board issued Accounting Standards Codification Update No. 2016-09 Compensation Stock Compensation (Topic 718). The amendments in this update affect all entities that issue share-based payment awards to their employees. The areas for simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers which modifies how all entities recognize revenue and various other revenue accounting standards for specialized transactions and industries. This update is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of 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. In August 2015, the FASB issued ASU 2015-14, which deferred the effective date of the ASU to fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company has begun limited evaluation of the possible impact of ASU 2014-15 including obtaining training on ASU-2014-09 and the contract review and does not anticipate that it will have a material impact on the Company's consolidated financial statements. We have a small number of contracts which require an assessment and believe we have sufficient time for the implementation of ASU-2014-19. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Note Payable
3. Note Payable | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
3. Note Payable | 3. Note Payable On March 16, 2017, the Company executed a promissory note (the Note) with an unaffiliated lender in the amount of $25,000. The Note matures one year from issuance and has a 12% interest rate. For the three and nine months ended March 31, 2017, the Company recorded $748 and $871, respectively, in interest expense. |
4. Common Stock
4. Common Stock | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
4. Common Stock | 4. Common Stock On December 23, 2015, the Board of Directors approved an agreement with legal counsel for the Company which included; the issuance of 347,500 shares of common stock and the total payment of $15,000 to counsel for services rendered through the date the Companys S-1 filing is declared effective. The $15,000 will be paid the sooner of any combination of; (i) the sum of $500 per month commencing November 1, 2015, (ii) the first use of proceeds from the S-1 offering, or (iii) the change of control of the Company. To value the share issuance the Company used a $0.01 offering price considering the Company now has clients but there is no assurance that the public offering price of $0.10 will be obtained. On October 14, 2016, through a post effective amendment, the Company closed out the open Form S1 originally dated February 8, 2016. The Company sold an aggregate of 369,000 shares at $0.10 for total proceeds of $36,900. On November 1, 2016, the Companys sole officer, director and majority shareholder, agreed to surrender and return to treasury 14,495,000 shares of common stock. In addition, on the same date, another shareholder agreed to surrender and return to treasury 295,000 shares of common stock. |
5. Related Party Transactions
5. Related Party Transactions | 9 Months Ended |
Jun. 30, 2017 | |
Notes | |
5. Related Party Transactions | 5. Related Party Transactions The Company has paid the sole shareholder, officer and director $3,000 and $3,000 for the three and nine-month periods ended June 30, 2017. Such amounts were for professional services performed and have been included as cost of revenue related party of $2,000, and, in general and administrative line as related party costs of $1,000, respectively. The Company has no formal contract in place with its sole officer and director. |
Note 2. Summary of Significan11
Note 2. Summary of Significant Accounting Policies: Basis of Presentation and Organization (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Basis of Presentation and Organization | Basis of Presentation and Organization The accompanying financial statements of the Company were prepared from the accounts of the Company under the accrual basis of accounting. The balance sheet at September 30, 2016 was derived from audited financial statements but does not include all disclosures required by accounting principals generally accepted in the United States of America. The other information in these condensed financial statements is unaudited but, in the opinion of management, reflects all adjustments necessary for the fair presentation of the results for the periods covered. These financial statements should be read in conjunction with the financial statements and additional information as contained in our Form 10K for the year ended September 30, 2016. |
Note 2. Summary of Significan12
Note 2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of reporting within the statement of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. The Companys cash and cash equivalents are located in a United States bank. The Company does not have any cash equivalents as of June 30, 2017 or September 30, 2016. |
Note 2. Summary of Significan13
Note 2. Summary of Significant Accounting Policies: Accounts Receivable (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Accounts Receivable | Accounts Receivable The Companys accounts receivables are derived from direct customers. Collateral is not required for accounts receivable. The Company maintains an allowance for potential credit losses as considered necessary. The Company performs ongoing reviews of all customers that have breached their payment terms or for whom information has become available indicating a risk of non-recoverability. The Company records an allowance for bad debts for specific customers identified as well as an allowance based on its historical collection experience. The Companys evaluation of the allowance for potential credit losses requires the use of estimates and the actual results may differ from these estimates. At June 30, 2017 and September 30, 2016, the allowance for potential credit losses was $0. |
Note 2. Summary of Significan14
Note 2. Summary of Significant Accounting Policies: Fixed Assets (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Fixed Assets | Fixed Assets Office equipment is stated at cost and depreciated over three years using the straight-line method of accounting. For the three and nine months ended June 30, 2017, and 2016, the company recorded depreciation expense of $0 and $419, and $838 and $1,257, respectively. |
Note 2. Summary of Significan15
Note 2. Summary of Significant Accounting Policies: Revenue Recognition (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Revenue Recognition | Revenue Recognition The Company derives its revenue from the sale of compliance, legal, risk management and management and public reporting consulting services. The Company utilizes written contracts as the means to establish the terms and condition services are sold to customers. |
Note 2. Summary of Significan16
Note 2. Summary of Significant Accounting Policies: Consulting Services (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Consulting Services | Consulting Services Because the Company provides its applications as services, it follows the provisions of Accounting Standards Codification No.605, Revenue Recognition. there is persuasive evidence of an arrangement; the service has been provided to the customer; the collection of the fees is reasonably assured; and the amount of fees to be paid by the customer is fixed or determinable. The Company recognizes revenue as services are performed or monthly based upon contract terms. Contracts may either be for a specific project, or, a monthly recurring fee. |
Note 2. Summary of Significan17
Note 2. Summary of Significant Accounting Policies: Reimbursements (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Reimbursements | Reimbursements The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue in its Statement of Operations. |
Note 2. Summary of Significan18
Note 2. Summary of Significant Accounting Policies: Net Income (loss) Per Common Share (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Net Income (loss) Per Common Share | Net Income (Loss) per Common Share Basic income (loss) per share is computed by dividing the net income (loss) attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Fully diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the periods ended June 30, 2017 or 2016. |
Note 2. Summary of Significan19
Note 2. Summary of Significant Accounting Policies: Income Taxes (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Income Taxes | Income Taxes The Company accounts for income taxes pursuant to FASB ASC 740. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences. The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Companys financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws. Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimates. |
Note 2. Summary of Significan20
Note 2. Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of June 30, 2017 the carrying value of accounts receivable, accounts payable-trade and accrued liabilities approximated fair value due to the short-term nature and maturity of these instruments. |
Note 2. Summary of Significan21
Note 2. Summary of Significant Accounting Policies: Customer Concentration Disclosure. (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Customer Concentration Disclosure. | Customer Concentration Disclosure. For the three months ended June 30, 2017 and 2016, three and one customers made up 94% of our revenue, respectively. Those customers represented 38%, 38% and 19% for three months ended June 30, 2017 and 94% for the three months ended June 30, 2016. For the nine months ended June 30, 2017 and 2016, three customers made up 96% and 78% of our revenue, respectively. Those customers represented 40%, 40% and 16% for nine months ended June 30, 2017 and 28%, 26% and 24% for the nine months ended June 30, 2016. There were no customers present in both periods. |
Note 2. Summary of Significan22
Note 2. Summary of Significant Accounting Policies: Stock-based Compensation (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Stock-based Compensation | Stock-Based Compensation Stock compensation arrangements with non-employee service providers are accounted for in accordance ASC 505-50 Equity-Based Payments to Non-Employees, |
Note 2. Summary of Significan23
Note 2. Summary of Significant Accounting Policies: Estimates (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Estimates | Estimates The financial statements are prepared on the basis of accounting principles generally accepted in the United States. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and expenses. Actual results could differ from those estimates made by management. |
Note 2. Summary of Significan24
Note 2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Jun. 30, 2017 | |
Policies | |
Recent Accounting Pronouncements | Recent accounting pronouncements In March 2016, the Financial Accounting Standards Board issued Accounting Standards Codification Update No. 2016-09 Compensation Stock Compensation (Topic 718). The amendments in this update affect all entities that issue share-based payment awards to their employees. The areas for simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers which modifies how all entities recognize revenue and various other revenue accounting standards for specialized transactions and industries. This update is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of 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. In August 2015, the FASB issued ASU 2015-14, which deferred the effective date of the ASU to fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company has begun limited evaluation of the possible impact of ASU 2014-15 including obtaining training on ASU-2014-09 and the contract review and does not anticipate that it will have a material impact on the Company's consolidated financial statements. We have a small number of contracts which require an assessment and believe we have sufficient time for the implementation of ASU-2014-19. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Note 1. The Company History a25
Note 1. The Company History and Nature of The Business (Details) - USD ($) | Jun. 30, 2017 | Sep. 30, 2016 |
Details | ||
Retained deficit | $ 79,329 | $ 55,513 |
Total Stockholders' Deficit | $ 23,954 | $ 638 |
Note 2. Summary of Significan26
Note 2. Summary of Significant Accounting Policies: Fixed Assets (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Details | ||||
Depreciation | $ 0 | $ 419 | $ 838 | $ 1,257 |
3. Note Payable (Details)
3. Note Payable (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Mar. 16, 2017 | |
Details | |||||
Note payable | $ 25,000 | $ 25,000 | $ 25,000 | ||
Short-term Debt, Percentage Bearing Fixed Interest Rate | 12.00% | ||||
Interest expense | $ 748 | $ 748 | $ 871 | $ 871 |
4. Common Stock (Details)
4. Common Stock (Details) - USD ($) | 15 Months Ended | |||
Mar. 31, 2017 | Jun. 30, 2017 | Sep. 30, 2016 | Dec. 23, 2015 | |
Details | ||||
Common Stock, Shares Issued | 2,926,500 | 17,347,500 | 347,500 | |
Stock Issued During Period, Value, Issued for Services | $ 15,000 |
5. Related Party Transactions (
5. Related Party Transactions (Details) - USD ($) | 3 Months Ended | 9 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Details | ||
Related Party Transaction, Amounts of Transaction | $ 3,000 | $ 3,000 |