Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2016 | Aug. 12, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | GRCR Partners Inc | |
Entity Central Index Key | 1,661,600 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
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 Common Stock, Shares Outstanding | 17,347,500 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,016 |
CONDENSED BALANCE SHEET
CONDENSED BALANCE SHEET - USD ($) | Jun. 30, 2016 | Sep. 30, 2015 |
CURRENT ASSETS: | ||
Cash or cash equivalents | $ 792 | $ 18,483 |
Accounts receivable, net | 1,028 | 10,000 |
Prepaid expense | 0 | 5,000 |
TOTAL CURRENT ASSETS | 1,820 | 33,483 |
Fixed assets, net | 1,257 | 2,514 |
TOTAL ASSETS | 3,077 | 35,997 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 18,003 | 1,000 |
Accrued taxes | 0 | 3,599 |
TOTAL CURRENT LIABILITIES | 18,003 | 4,599 |
TOTAL LIABILITIES | 18,003 | 4,599 |
STOCKHOLDERS' EQUITY (DEFICIT): | ||
Preferred stock, $.0001 par value, 15,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock, $.0001 par value, 500,000,000 shares authorized, 17,347,500 and 17,000,000 shares issued and outstanding, as of June 30, 2016 and September 30, 2015 | 1,735 | 1,700 |
Additional paid-in capital | 16,740 | 13,300 |
Retained earnings (deficit) | (33,401) | 16,398 |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | (14,926) | 31,398 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 3,077 | $ 35,997 |
CONDENSED BALANCE SHEET (Parent
CONDENSED BALANCE SHEET (Parenthetical) - $ / shares | Jun. 30, 2016 | Sep. 30, 2015 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Preferred Stock shares par value | $ .0001 | $ .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 shares par value | $ .0001 | $ .0001 |
Common Stock shares Authorized | 500,000,000 | 500,000,000 |
Common Stock shares Issued | 17,347,500 | 17,000,000 |
Common Stock shares Outstanding | 17,347,500 | 17,000,000 |
CONDENSED STATEMENT OF OPERATIO
CONDENSED STATEMENT OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2016 | |
Revenues: | ||||
Professional service revenues | $ 21,500 | $ 31,400 | $ 73,051 | $ 119,000 |
Expense reimbursement | 2,765 | 0 | 0 | 7,522 |
Total Revenues | 24,265 | 31,400 | 73,051 | 126,522 |
Cost of revenues | 14,000 | 24,057 | 37,557 | 75,500 |
Cost of revenues from a related party | 2,800 | 2,650 | 2,650 | 7,200 |
Gross Profit | 7,465 | 4,693 | 32,844 | 43,822 |
Operating expenses: | ||||
Stock based compensation | 0 | 0 | 0 | 3,475 |
Depreciation | 419 | 0 | 0 | 1,257 |
General and administrative | 20,231 | 16,658 | 18,516 | 92,168 |
Total operating expenses | 20,650 | 16,658 | 18,516 | 96,900 |
Income (Loss) from operations | (13,185) | (11,965) | 14,328 | (53,078) |
Income before taxes | (13,185) | (11,965) | 14,328 | (53,078) |
Income tax (benefit) | 0 | 0 | 0 | (3,279) |
Net income (loss) applicable to common shareholders | $ (13,185) | $ (11,965) | $ 14,328 | $ (49,799) |
Net income (loss) per share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted number of shares outstanding - Basic and diluted | 17,347,500 | 17,000,000 | 17,000,000 | 17,241,850 |
CONDENSED STATEMENT OF STOCKHOL
CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Jun. 30, 2016 - USD ($) | Preferred Stock | Common Stock | Paid-In Capital | Retained Earnings (Deficit) | Total |
Beginning Balance, Shares at Sep. 30, 2015 | 0 | 17,000,000 | |||
Beginning Balance, Amount at Sep. 30, 2015 | $ 0 | $ 1,700 | $ 13,300 | $ 16,398 | $ 31,398 |
Issuance of common stock for services, Shares | 347,500 | ||||
Issuance of common stock for services, Amount | $ 35 | 3,440 | 3,475 | ||
Net income (loss) | (49,799) | (49,799) | |||
Ending Balance, Shares at Jun. 30, 2016 | 0 | 17,347,500 | |||
Ending Balance, Amount at Jun. 30, 2016 | $ 0 | $ 1,735 | $ 16,740 | $ (33,401) | $ (14,926) |
CONDENSED STATEMENT OF CASH FLO
CONDENSED STATEMENT OF CASH FLOW - USD ($) | 6 Months Ended | 9 Months Ended |
Jun. 30, 2015 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 14,328 | $ (49,799) |
Adjustments to reconcile net income to cash (used in) provided by operating activities: | ||
Stock based compensation | 0 | 3,475 |
Depreciation | 0 | 1,257 |
Change in operating assets and liabilities: | ||
Accounts receivable | (10,400) | 8,972 |
Prepaid expenses | 0 | 5,000 |
Accounts payable and accrued expenses | 0 | 17,003 |
Income tax payable | 0 | (3,599) |
Net cash (used in) provided by operating activities | 3,928 | (17,691) |
CASH FLOW FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of common stock | 15,000 | 0 |
Net cash provided by financing activities | 15,000 | 0 |
NET INCREASE (DECREASE) IN CASH | 18,928 | (17,691) |
CASH AND CASH EQUIVALENTS at beginning of period | 0 | 18,483 |
CASH AND CASH EQUIVALENTS at end of period | 18,928 | 792 |
Supplemental disclosure of cash flow information | ||
Cash paid for: Interest | 0 | 0 |
Cash paid for: Income Taxes | $ 0 | $ 0 |
1. The Company History and Natu
1. The Company History and Nature of the Business | 9 Months Ended |
Jun. 30, 2016 | |
Company History And Nature Of Business | |
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 $33,401 and has a working capital deficit of $16,183 at June 30, 2016. We have a limited operating history, we are currently generating revenue, however, our growth is dependent upon achieving 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. 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. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2016 | |
Summary Of Significant Accounting Policies | |
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, 2015 was derived from audited financial statements but does not include all disclosures required by accounting principals generally accepted in the United Sates 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 S-1A for the year ended September 30, 2015. 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, 2016 or September 30, 2015. Accounts Receivable The Companys accounts receivable 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, 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 nine months ended June 30, 2016, the company recorded depreciation expense of $1,257. 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 Securities and Exchange Commission Staff Accounting Bulletin (SAB) No. 104, 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 period ended June 30, 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, 2016 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, 2016, two customers make up 100% of our gross revenue. They represent 94% and 6% respectively. For the nine months ended June 30, 2016, three customers made up 78% of our gross revenue, they represent 28%, 26% and 24% respectively. One customers made up 100% of our accounts receivable balance as of June 30, 2016. 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 as of June 30, 2016 and cumulative expenses from inception. 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 Financial Accounting Standard Board Issued Accounting Standards Codification Update Non 2014-09 Revenue from Contracts with Customers (Topic 616). The amendment for a public entity, effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. A public entity is an entity that is any one of the following: (1) a public business entity, (2) a not-for-profit entity that has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over-the-counter market, (3) an employee benefit plan that files or furnishes financial statements to the SEC. 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. Common Stock
3. Common Stock | 9 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Common Stock | On January 16, 2015, the Company issued 17,000,000 shares of common stock to the SCM Holdings II, LLC (SCM) at par value of $0.0001 per share, for an equity investment of $15,000. The sole owner of SCM is the current CEO, CFO and sole director of the Company. 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. |
4. Income Taxes
4. Income Taxes | 9 Months Ended |
Jun. 30, 2016 | |
Income Taxes | |
Income Taxes | The provision for income taxes for the three and nine months ended June 30, 2016 was as follows (assuming a 15%, and 3% effective tax rate for federal and state taxes, respectively): For the three months ended June, 2016 For the nine months ended June 30, 2016 Tax Provision (Benefit): Current Federal-State - - Deferred Tax Benefit 2,373 8,964 Change in valuation allowance (2,373 ) (8,964 ) Total tax provision (benefit) - - The Company recorded no deferred income tax asset or liability as of June 30, 2016. The loss carry-forward benefit is $6,012, however, the company has offset that with a valuation allowance. The Company did not identify any material uncertain tax positions. The Company did not recognize any interest or penalties for unrecognized tax benefits. The federal income tax returns of the Company are subject to examination by the IRS, generally for three years after they are filed. All returns since inception are still subject to examination. |
5. Related Party Loans and Tran
5. Related Party Loans and Transactions | 9 Months Ended |
Jun. 30, 2016 | |
Related Party Loans And Transactions | |
Related Party Loans and Transactions | The Company has paid the sole shareholder, officer and director $2,800 and $7,200 for the three and nine month periods ended June 30, 2016. Such amounts were for professional services performed and have been included in the cost of revenue line as related party costs. The Company has no formal contract in place with its sole officer and director. |
6. Subsequent Events
6. Subsequent Events | 9 Months Ended |
Jun. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | None to note. |
2. Summary of Significant Acc13
2. Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
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, 2015 was derived from audited financial statements but does not include all disclosures required by accounting principals generally accepted in the United Sates 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 S-1A for the year ended September 30, 2015. |
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, 2016 or September 30, 2015. |
Accounts Receivable | The Companys accounts receivable 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, 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 nine months ended June 30, 2016, the company recorded depreciation expense of $1,257. |
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 Securities and Exchange Commission Staff Accounting Bulletin (SAB) No. 104, 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 period ended June 30, 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, 2016 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, 2016, two customers make up 100% of our gross revenue. They represent 94% and 6% respectively. For the nine months ended June 30, 2016, three customers made up 78% of our gross revenue, they represent 28%, 26% and 24% respectively. One customers made up 100% of our accounts receivable balance as of June 30, 2016. |
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 as of June 30, 2016 and cumulative expenses from inception. 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 Financial Accounting Standard Board Issued Accounting Standards Codification Update Non 2014-09 Revenue from Contracts with Customers (Topic 616). The amendment for a public entity, effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. A public entity is an entity that is any one of the following: (1) a public business entity, (2) a not-for-profit entity that has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over-the-counter market, (3) an employee benefit plan that files or furnishes financial statements to the SEC. 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. |
4. Income Taxes (Tables)
4. Income Taxes (Tables) | 9 Months Ended |
Jun. 30, 2016 | |
Income Taxes Tables | |
Schedule of Income Tax Provision (Benefit) | For the three months ended June, 2016 For the nine months ended June 30, 2016 Tax Provision (Benefit): Current Federal-State - - Deferred Tax Benefit 2,373 8,964 Change in valuation allowance (2,373 ) (8,964 ) Total tax provision (benefit) - - |
4. Income Taxes (Details)
4. Income Taxes (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2016 | |
Tax Provision (Benefit): | ||||
Current Federal-State | $ 0 | $ 0 | $ 0 | $ (3,279) |
Deferred Tax Benefit | 2,373 | 8,964 | ||
Change in valuation allowance | (2,373) | (8,964) | ||
Total tax provision (benefit) | $ 0 | $ 0 |
5. Related Party Loans and Tr16
5. Related Party Loans and Transactions (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | |
Related Party Loans And Transactions Details Narrative | ||
Related party transaction | $ 2,800 | $ 7,200 |