Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 25, 2017 | Jun. 30, 2016 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Titan Computer Services Inc. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 29,826,659 | ||
Entity Public Float | $ 121,017 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,664,127 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash | $ 20,043 | $ 87,639 |
Account receivable – related party | 9,310 | 0 |
Total Current Assets | 29,353 | 87,639 |
Intangible Assets | ||
Software Rights, net | 7,000 | 67,156 |
Total Intangible Assets | 7,000 | 67,156 |
Total Assets | 36,353 | 154,795 |
Current Liabilities | ||
Accrued expenses | 46,875 | 7,500 |
Due to related party | 11,829 | 0 |
Redeemable Common Stock | 13,156 | 0 |
Deferred revenue | 4,185 | 0 |
Other current liabilities | 2,375 | 2,729 |
Total Current Liabilities | 78,420 | 10,229 |
Long Term Liabilities | ||
Loan payable – related party | 50,000 | 50,000 |
Redeemable common stock | 13,156 | |
Total Long Term Liabilities | 50,000 | 63,156 |
Total Liabilities | 128,420 | 73,385 |
Commitments and Contingencies (note 6) | ||
Stockholders’ Equity (Deficiency) | ||
Preferred Stock - no par value, 5,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock - no par value, 70,000,000 shares authorized, at December 31, 2016 and 2015 29,826,659 and 30,801,659 shares issues and outstanding at December 31, 2016 and 2015 | 130,511 | 119,011 |
Accumulated deficit | (222,578) | (37,601) |
Total Stockholders’ Equity (Deficiency) | (92,067) | 81,410 |
Total Liabilities and Stockholders’ Equity (Deficiency) | $ 36,353 | $ 154,795 |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred stock, par value (in Dollars per share) | $ 0 | $ 0 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares authorized | 0 | 0 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Common stock, par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 70,000,000 | 70,000,000 |
Common stock, shares issues | 29,826,659 | 30,801,659 |
Common stock, shares outstanding | 29,826,659 | 30,801,659 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue – Related Party | $ 5,125 | $ 90,042 |
Cost of services provided | 0 | 36,565 |
Gross Profit | 5,125 | 53,477 |
Operating Expenses | ||
Legal and professional fee | 91,222 | 57,688 |
Officer Payroll and Benefits | 9,994 | 24,302 |
Other general and administrative expenses | 37,304 | 16,970 |
Total operating expenses | 138,520 | 98,960 |
Loss from operations | (133,395) | (45,483) |
Other Income (Expenses) | ||
Impairment loss | (50,082) | 0 |
Interest expense | (1,500) | (875) |
Total Other Income (Expenses), Net | (51,582) | (875) |
Net Loss before tax | (184,977) | (46,358) |
Provision for income taxes | 0 | 0 |
Net Loss | $ (184,977) | $ (46,358) |
Earnings per share - basic and fully diluted (in Dollars per share) | $ (0.01) | $ 0 |
Weighted-average number of shares of common stock - basic and fully diluted (in Shares) | 30,314,295 | 20,792,169 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) | Common Stock [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2014 | $ 500 | $ 8,757 | $ 9,257 |
Balance (in Shares) at Dec. 31, 2014 | 200 | ||
Issuance of common stock | $ 118,511 | 118,511 | |
Issuance of common stock (in Shares) | 16,101,459 | ||
Issuance of common stock for purchase of software rights | $ 13,156 | 13,156 | |
Issuance of common stock for purchase of software rights (in Shares) | 14,700,000 | ||
Redeemable common stock | $ (13,156) | (13,156) | |
Net loss for the year | (46,358) | (46,358) | |
Balance at Dec. 31, 2015 | $ 119,011 | (37,601) | $ 81,410 |
Balance (in Shares) at Dec. 31, 2015 | 30,801,659 | 30,801,659 | |
Issuance of common stock | $ 12,500 | $ 12,500 | |
Issuance of common stock (in Shares) | 25,000 | ||
Correction to shares outstanding | $ (1,000) | (1,000) | |
Correction to shares outstanding (in Shares) | (1,000,000) | ||
Net loss for the year | (184,977) | (184,977) | |
Balance at Dec. 31, 2016 | $ 130,511 | $ (222,578) | $ (92,067) |
Balance (in Shares) at Dec. 31, 2016 | 29,826,659 | 29,826,659 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Activities: | ||
Net loss | $ (184,977) | $ (46,358) |
Adjustments to reconcile net loss from operations to net cash used in operating activities: | ||
Amortization expense | 10,074 | 0 |
Impairment loss | 50,082 | 0 |
Adjustment to officer compensation | (1,000) | 0 |
Change in assets and liabilities: | ||
Accounts receivable | (9,310) | 17,565 |
Accounts payable | 0 | (5,376) |
Accrued expenses | 39,375 | 7,500 |
Deferred revenue | 4,185 | 0 |
Other current liabilities | (354) | 1,925 |
Net Cash Used In Operating Activities | (91,925) | (24,744) |
Investing Activities: | ||
Acquisition of computer software rights | 0 | (54,000) |
Net Cash Used In Investing Activities | 0 | (54,000) |
Financing Activities: | ||
Proceeds from sale of common stock | 12,500 | 118,511 |
Proceeds from related party loans | 0 | 50,000 |
Shareholders' advance | 11,829 | 0 |
Bank overdraft | 0 | (2,128) |
Net Cash Provided By financing activities | 24,329 | 166,383 |
Net Increase (Decrease) in Cash | (67,596) | 87,639 |
Cash, Beginning Of Year | 87,639 | 0 |
Cash, End Of Year | 20,043 | 87,639 |
Cash paid during the year: | ||
Interest paid | 0 | 0 |
Income taxes paid | 0 | 0 |
Supplemental Disclosure of Non-cash Investing and Financing Activities: | ||
Shares issued for acquisition of software costs | $ 0 | $ 13,156 |
1 - BACKGROUND AND DESCRIPTION
1 - BACKGROUND AND DESCRIPTION OF BUSINESS | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Business Description and Basis of Presentation [Text Block] | 1 — BACKGROUND AND DESCRIPTION OF BUSINESS Company Background Titan Computer Services, Inc. (the “Company”) was incorporated on July 13, 1994 in the State of New York to provide temporary and staffing solutions to a broad cross section of industries including manufacturing, retailing and healthcare. Due to the progressive nature of digital services, the Company evolved to provide on-site IT programmers, analysts and architects for corporations, and online services for sales and marketing professionals requiring sales data, marketing intelligence and real-time leads. As a result of our purchase of a minority interest in the software known as Greentree Magic Software, the Company is also involved in the development and marketing of this software. GreenTree Magic Software is owned 51% by Green Tree Software LLC and 49% by us (software rights). The Company specializes in providing business intelligence to companies in need of IT human capital. The software provides access to information for passive IT applicants in the industry. The Green Tree Magic Software was fully developed as of December 31, 2015 and will provide a business intelligence productivity tool that serves the dual purpose of business development and professional recruiting. We believe the software will help companies generate sales leads by providing access to actionable triggers, for example, a change in management, use of new software, or the type of programming language used by companies in our database. In addition, companies will be able to use the software to identify passive candidates for their job openings. |
2 - SUMMARY OF SIGNIFICANT ACCO
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company follows the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America and has a year-end of December 31. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented. Going Concern and Liquidity We have incurred recurring losses since inception and expect to continue to incur losses as a result of legal and professional fees and our corporate general and administrative expenses. At December 31, 2016, we had approximately $20,000 in cash. Our net losses incurred for the year ended December 31, 2016 and 2015, amounted to approximately $185,000 and $46,000, respectively, and working capital (deficits) was approximately $(49,000) and $77,000, respectively, at December 31, 2016 and 2015. As a result, there is substantial doubt about our ability to continue as a going concern. In the event that we are unable to generate sufficient cash from our operating activities or raise additional funds, we may be required to delay, reduce or severely curtail our operations or otherwise impede our on-going business efforts, which could have a material adverse effect on our business, operating results, financial condition and long-term prospects. The Company expects to seek to obtain additional funding through increased revenues and future financings. There can be no assurance as to the availability or terms upon which such financing and capital might be available. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant Estimates, Risks and Concentrations These accompanying financial statements include some amounts that are based on management’s best estimates and judgments. The most significant estimates relate to the valuation of the software rights and redeemable common stock liability. It is reasonably possible that the above-mentioned estimate and others may be adjusted as more current information becomes available, and any adjustment could be significant in future reporting periods. The Company is dependent on its ability to handle rapidly substantial quantities of data and transactions on computer-based networks and the capacity, reliability and security of the electronic delivery systems and the Internet. Any significant failure or interruption of these systems could cause our systems to operate slowly or interrupt service for periods of time and could have a material adverse effect on our business and results of our operations. The Company may experience shortage of capacity and increased costs associated with such usage. These events may affect our ability to store, handle and deliver data and services to our customers. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Revenue Recognition The Company recognizes revenue in accordance with ASC 605 Revenue Recognition (“ASC 605”). Revenue is recognized when all of the following four criteria are met: (1) persuasive evidence of an arrangement exists, (2) delivery has occurred or services rendered, (3) the fee is fixed and determinable and (4) collectability is reasonably assured. Determining whether and when some of these criteria have been satisfied often involves assumptions and judgments that can have a significant impact on the timing and amount of revenue we report. The Company charges our users a fee for non-exclusive access to its web site that contains proprietary databases. The fee allows access to the web site for a one-year period. After the customer is provided with an identification number and trained in the use of the database, there are no incremental costs that will be incurred in serving this customer. The Company recognizes these charges over the life of the agreement. Intangible Assets – Software Costs The Company’s policy is to capitalize software development costs at original cost and amortize the balance over the life of the product. The life of software development cost is determined at completion of the project. The Company reviews the amounts capitalized for impairment whenever events or circumstances indicate that the carrying amounts of the assets may not be recoverable. Amortization is recognized using the straight-line method over the following approximate useful lives: Software rights 5 Years The Software rights were fully developed as at balance sheet date. As of December 31, 2016, and 2015, carrying value of software costs was approximately $7,000 and $67,156, respectively. Amortization expense for the years ended December 31, 2016 and 2015 was $10,074 and $0, respectively. In accordance with the provisions of the applicable authoritative guidance, the Company’s long-lived assets and amortizable intangible assets are tested for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. The Company assesses the recoverability of such assets by determining whether their carrying value can be recovered through undiscounted future operating cash flows, including its estimates of revenue driven by assumed market segment share and estimated costs. If impairment is indicated, the Company measures the amount of such impairment by comparing the fair value to the carrying value. The Company performed an impairment testing at the year- end and wrote down the value of the software to $7,000, based on consideration to be paid per agreement for the sale of the software rights subsequent to year end, see Note 9. Impairment of Long-Lived Assets The Company’s long-lived assets and other assets (consisting of property and equipment) are reviewed for impairment in accordance with the guidance of the FASB ASC Topic 360-10, Property, Plant, and Equipment, and FASB ASC Topic 205, Presentation of Financial Statements. Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the undiscounted future net cash flows expected to be generated by that asset. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Through December 31, 2016, the Company had not experienced impairment losses on its long-lived assets. During the year ended December 31, 2016, the company recorded an impairment loss on the software rights. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount, net of related cash discounts, and do not bear interest. The Company does not have any off-balance sheet exposure related to the Company’s customers. The Company maintains an allowance for doubtful accounts related to its accounts receivable that have been deemed to have a high risk of collectability. Management reviews its accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. Management analyzes historical collection trends and changes in its customer payment patterns, customer concentration and creditworthiness when evaluating the adequacy of its allowance for doubtful accounts. In its overall allowance for doubtful accounts, the Company includes any receivable balances that are determined to be uncollectible. Based on the information available, management believes the allowance for doubtful accounts is adequate; however, actual write-offs might exceed the recorded allowance. Advertising Costs Advertising costs are expensed as incurred. Advertising costs for the years ended December 31, 2016 and 2015 were $0. Fair Value of Financial Instruments The book values of cash, prepaid expenses, and accounts payable approximate their respective fair values due to the short-term nature of these instruments. The fair value hierarchy under GAAP distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels • Level one — Quoted market prices in active markets for identical assets or liabilities; • Level two — Inputs other than level one inputs that are either directly or indirectly observable; and • Level three — Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Determining which category an asset or liability falls within the hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter. Earnings Per Share Basic earnings per share are computed by dividing the net income by the weighted-average number of shares of common stock and common stock equivalents (primarily outstanding options and warrants). Common stock equivalents represent the dilutive effect of the assumed exercise of the outstanding stock options and warrants, using the treasury stock method. The calculation of fully diluted earnings per share assumes the dilutive effect of the exercise of outstanding options and warrants at either the beginning of the respective period presented or the date of issuance, whichever is later. Income Taxes An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss (NOLs) carryover. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. In the event the Company is charged interest or penalties related to income tax matters, the Company would record such interest as interest expense and would record such penalties as other expense in the consolidated statements of operations. No such charges have been incurred by the Company. For the years ended December 31, 2016 and 2015, the Company had no uncertain tax positions. Contingencies Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. Recently Adopted Accounting Pronouncements Going Concern ASU 2014-15 – “Presentation of Financial Statements—Going Concern—Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”).” In August 2014, FASB issued guidance that requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. The updated accounting guidance was effective for the Company on December 31, 2016. We have implemented this new accounting standard and we will update our liquidity disclosures as necessary. Recent Accounting Pronouncements Recently-Issued Accounting Standards: Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. Financial Instruments In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 will be effective for the Company beginning in its first quarter of 2019. The Company does not believe the adoption of ASU 2016-01 will have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit losses of certain financial instruments. ASU 2016-13 will be effective for the Company beginning in its first quarter of 2021 and early adoption is permitted. The Company does not believe the adoption of ASU 2016-13 will have a material impact on its consolidated financial statements. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which modified lease accounting for both lessees and lessors to increase transparency and comparability by recognizing lease assets and lease liabilities by lessees for those leases classified as operating leases under previous accounting standards and disclosing key information about leasing arrangements. ASU 2016-02 will be effective for the Company beginning in its first quarter of 2020, and early adoption is permitted. The Company is currently evaluating the timing of its adoption and the impact of adopting ASU 2016-02 on its consolidated financial statements. Stock Compensation In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which simplified certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification on the statement of cash flows. ASU 2016-09 will be effective for the Company beginning in its first quarter of 2018. The Company is currently evaluating the impact of adopting ASU 2016-09 on its consolidated financial statements. Income Taxes In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory (“ASU 2016-16”), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. ASU 2016-06 will be effective for the Company in its first quarter of 2019. The Company is currently evaluating the impact of adopting ASU 2016-16 on its consolidated financial statements. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2019, and early adoption is permitted. Subsequently, the FASB has issued the following standards related to ASU 2014-09: ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (“ASU 2016-08”); ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (“ASU 2016-10”); and ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”). The Company must adopt ASU 2016-08, ASU 2016-10 and ASU 2016-12 with ASU 2014-09 (collectively, the “new revenue standards”). The new revenue standards may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company currently expects to adopt the new revenue standards in its first quarter of 2018 utilizing the full retrospective transition method. The Company does not expect adoption of the new revenue standards to have a material impact on its consolidated financial statements. |
3 - INTANGIBLE ASSETS - SOFTWAR
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Intangible Assets Disclosure [Text Block] | 3 — INTANGIBLE ASSETS - SOFTWARE RIGHTS Software rights, net consisted of the following: December 31, 2016 December 31, 2015 Software rights $ 67,156 $ 67,156 Less: Accumulated amortization (10,074 ) - Impairment loss (50,082 ) $ 7,000 $ 67,156 Amortization expense for the years ended December 31, 2016 and 2015 was approximately $10,074 and $0, respectively. Green Tree Magic Software Agreement Due to the progressive nature of digital services, the Company evolved to provide on-site IT programmers, analysts and architects for corporations, and online services for sales and marketing professionals requiring sales data, marketing intelligence and real-time leads. As a result of our purchase of a minority interest in the software known as Greentree Magic Software, the Company is also involved in the enhancements of this software. On April 27, 2015, the Company entered into a software purchase agreement with Green Tree Software LLC, Mr. Steve Edelman, the principal of Green Tree Software LLC (“Green Tree”) and Rosenweiss Capital LLC (“Rosenweiss”) pursuant to which we purchased a 49% interest in the software known as “Greentree Magic Software” (“software”) for a total purchase price of $67,156. The Green Tree software was still in development at the time of the transaction and therefore the fair market value of the software was not clearly evident or could not be reliably measured at the time of this transaction. The fair value of the consideration given, including the stock transferred to obtain the software rights and cash paid, was a better indicator thus more reliably measurable than the fair value of the software rights acquired. Based on the above, a share price of approximately $0.001, same price used for the March and April 2015 stock transactions for the founders’ shares was used as a basis for valuing the software, plus the cash paid. The agreement also provides that if the Company does not become a publicly traded company subject to the reporting requirements of the Securities Exchange Act of 1934 prior to April 27, 2017, or if the software does not generate at least $25,000 of revenue by such date, the 49% interest the Company has in the software shall revert back to Green Tree and Green Tree shall return 7,350,000 common shares of the Company back to the current shareholders of the Company and 7,350,000 of the Company’s common shares to Rosenweiss. These shares were recorded as a long-term liability, redeemable common stock and totaled $13,156 as of December 31, 2015 and was charged to common stock as of December 31, 2016 for the shares were disposed of after the year ended December 31, 2016 (see Note 9 - Subsequent event). |
4 - LOAN PAYABLE - RELATED PART
4 - LOAN PAYABLE - RELATED PARTY | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | 4 — LOAN PAYABLE – RELATED PARTY Concurrent with the closing of the software purchase, Rosenweiss purchased 3,000,000 shares of the Company’s common stock, representing approximately 10% of our issued and outstanding shares of common stock, for a purchase price of $0.023 per share, for aggregate gross proceeds of $70,000. The agreement also provides that Rosenweiss extend a loan to the Company in the amount of $50,000. The Company was granted a loan in the amount of $50,000 on May 29, 2015 requiring annual payments of $10,000 commencing on May 29, 2019 plus interest at a rate of 3% per annum. Our current CEO, Abraham Rosenblum, is also a principal member of Rosenweiss Capital LLC. |
5 - INCOME TAXES
5 - INCOME TAXES | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 5 — INCOME TAXES Effective January 1, 2015, the Company converted from an S-Corporation to a C-Corporation. The profits of a C-Corporation are taxed at the applicable corporate tax rates. Deferred Tax Assets The Company accounts for income taxes under the liability method. Deferred tax assets and liabilities are recorded based on the differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purpose, referred to as temporary differences. Deferred tax assets and liabilities at the end of each period are determined using the currently enacted tax rates applied to taxable income in the periods in which the deferred tax assets and liabilities are expected to be settled or realized. The Company’s tax provision is determined using an estimate of an annual effective tax rate adjusted for discrete items, if any, that are taken into account in the relevant period. The 2016 and 2015 annual effective tax rate is estimated to be a combined 38% for the U.S. federal and state statutory tax rates. The Company reviews tax uncertainties in light of changing facts and circumstances and adjust them accordingly. As of December 31, 2016, and 2015, there were no tax contingencies recorded. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities recognized for financial reporting, and the amounts recognized for income tax purposes. The significant components of deferred tax assets (at a 38% effective tax rate) as of December 31, 2016 and 2015, respectively, are as follows: Total Total Deferred Tax Asset 2016 2015 2016 2015 Net operating loss carry-forward 231,000 46,000 88,000 18,000 Less: valuation allowance (231,000 ) (46,000 ) (88,000 ) (18,000 ) Total $ - $ - $ - $ - The Company has a net operating loss carry-forward for federal and state tax purposes of approximately $231,000 at December 31, 2016, that is potentially available to offset future taxable income, which will begin to expire in the year 2031. For financial reporting purposes, no deferred tax asset was recognized because at December 31, 2016 and 2015, management estimates that it is more likely than not that substantially all of the net operating losses will expire unused. As a result, the amount of the deferred tax assets considered realizable was reduced 100% by a valuation allowance. The change in the valuation allowance was approximately $88,000 and $18,000 for the years ended December 31, 2016 and 2015, respectively. The Company is no longer subject to U.S. federal, state, or non-U.S. income tax examinations by tax authorities for tax years before 2012, except that in the future, earlier tax years can be examined for the sole purpose of challenging the net operating loss carry-forwards arising in those years. The reconciliation between income taxes (benefit) at the U.S. and State statutory tax rates and the amount recorded in the accompanying financial statements is as follows: December 31, December 31, 2016 2015 Tax benefit at U.S. federal statutory rate $ (70,000 ) $ (18,000 ) State income taxes/(benefit) before valuation allowance, net of federal benefit - - Increase in valuation allowance 70,000 18,000 Total provision for income tax benefit $ - $ - |
6 - COMMITMENTS AND CONTINGENCI
6 - COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 6 — COMMITMENTS AND CONTINGENCIES The Company is subject, from time to time, to claims by third parties under various legal disputes. The defense of such claims, or any adverse outcome relating to any such claims, could have a material adverse effect on the Company’s liquidity, financial condition and cash flows. For the years ended December 31, 2016 and 2015, the Company did not have any legal actions pending against it. |
7 - RELATED PARTY TRANSACTIONS
7 - RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | 7 — RELATED PARTY TRANSACTIONS During the years ended December 31, 2016 and 2015, the Company paid approximately $10,000 and $24,000 of Officer Payroll and Benefits to Mr. Lenny Rosenfield, the director, respectively. At December 31, 2016 and 2015, the balance due to our current CEO, Mr. Abraham Rosenblum was approximately $12,000 and $0, respectively, which is non-interest bearing, unsecured and payable on demand. For the years ended December 31, 2016 and 2015, the Company recorded $9,310 and $0 respectively of receivables from licensing the software through Green Tree Software LLC, see Note 3, and recognized approximately $5,000 and $0 of revenue for the years ended December 31, 2016 and 2015 and approximately $4,000 in deferred revenues for the year ended December 31, 2016. |
8 - STOCKHOLDERS' EQUITY (DEFIC
8 - STOCKHOLDERS' EQUITY (DEFICIENCY) | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 8 — STOCKHOLDERS’ EQUITY (DEFICIENCY) In February 2015, the Company filed certificate of amendment and the amendment effected by this certificate of amendment relates to an increase in the authorized share capital of the corporation from 200 shares, no par value, to 75,000,000 shares, no par value, consisting of 70,000,000 shares of common stock, no par value, and 5,000,000 shares of preferred stock. Stock Transactions In March and April 2015, the Company closed on the sale of an aggregate of 13,000,000 shares of common stock at a purchase price of $0.001 per share for aggregate proceeds of $13,000 in a private offering. On April 27, 2015, the Company closed on the sale of an aggregate of 3,000,000 shares of common stock at a purchase price of $0.023 per share for aggregate proceeds of $70,000 to Rosenweiss relating to the Green Tree Magic Software Agreement. In May and June 2015, we closed on the sale of an aggregate of 101,459 shares of common stock at a purchase price of $0.35 per share, for aggregate gross proceeds of $35,511. On April 27, 2015, the Company issued 14,700,000 shares of its common stock and $54,000 in cash to Green Tree for its 49% interest in the software. On June 28, 2016, we closed on the sale of an aggregate of 25,000 shares of common stock at a purchase price of $0.5 per share, for aggregate gross proceeds of $12,500. On July 1, 2016, the Company corrected the total shares issued to agree to number of shares held by the transfer agent, since there was one million shares incorrectly recorded as issued to the CEO in the prior year totaling $1,000. As of December 31, 2016 and December 31, 2015, the Company has no preferred stock issued and outstanding. As of December 31, 2016 and December 31, 2015, the Company has 29,826,659 and 30,801,659 shares of no par common stock issued and outstanding, respectively. |
9 - SUBSEQUENT EVENTS
9 - SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 9 — SUBSEQUENT EVENTS Changes in Control On February 6, 2017, Green Tree Software LLC and Pivotal Solutions, Inc., entities controlled by Steven Edelman, sold an aggregate of 14,716,666 of the registrant’s shares of common stock to Abraham Rosenblum, the President and CEO of our Company for an aggregate purchase price of $12,500 paid for by Mr. Rosenblum’s personal funds. Due to delays in delivery of the purchased shares, this transaction did not close until March 6, 2017. Departure of Directors and Appointment of Principal Officers (a) On February 28, 2017, Mr. Leonard Rosenfield resigned as a director of the Company and on the same date, Mr. Rosenfield was terminated as president of the Company. On March 2, 2017, Steven Edelman resigned as a director of the Company. (b) On February 28, 2017, Abraham Rosenblum was appointed as president of the Company. On February 28, 2017, Messrs. Abraham Rosenblum and Robert Klein were appointed as members of our board of directors. Software Sale Agreement On March 2, 2017, the Company entered into a Software Sale Agreement with Green Tree Software LLC which provides for the Company to sell all of its rights and interest in the Greentree Magic Software product for $7,000. The consideration was delivered and placed in escrow and closing is expected to occur if and when the registrant acquires another operating business. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation The Company follows the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America and has a year-end of December 31. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented. |
Going Concern and Liquidity [Policy Text Block] | Going Concern and Liquidity We have incurred recurring losses since inception and expect to continue to incur losses as a result of legal and professional fees and our corporate general and administrative expenses. At December 31, 2016, we had approximately $20,000 in cash. Our net losses incurred for the year ended December 31, 2016 and 2015, amounted to approximately $185,000 and $46,000, respectively, and working capital (deficits) was approximately $(49,000) and $77,000, respectively, at December 31, 2016 and 2015. As a result, there is substantial doubt about our ability to continue as a going concern. In the event that we are unable to generate sufficient cash from our operating activities or raise additional funds, we may be required to delay, reduce or severely curtail our operations or otherwise impede our on-going business efforts, which could have a material adverse effect on our business, operating results, financial condition and long-term prospects. The Company expects to seek to obtain additional funding through increased revenues and future financings. There can be no assurance as to the availability or terms upon which such financing and capital might be available. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Significant Estimates, Risks and Concentrations These accompanying financial statements include some amounts that are based on management’s best estimates and judgments. The most significant estimates relate to the valuation of the software rights and redeemable common stock liability. It is reasonably possible that the above-mentioned estimate and others may be adjusted as more current information becomes available, and any adjustment could be significant in future reporting periods. The Company is dependent on its ability to handle rapidly substantial quantities of data and transactions on computer-based networks and the capacity, reliability and security of the electronic delivery systems and the Internet. Any significant failure or interruption of these systems could cause our systems to operate slowly or interrupt service for periods of time and could have a material adverse effect on our business and results of our operations. The Company may experience shortage of capacity and increased costs associated with such usage. These events may affect our ability to store, handle and deliver data and services to our customers. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company recognizes revenue in accordance with ASC 605 Revenue Recognition (“ASC 605”). Revenue is recognized when all of the following four criteria are met: (1) persuasive evidence of an arrangement exists, (2) delivery has occurred or services rendered, (3) the fee is fixed and determinable and (4) collectability is reasonably assured. Determining whether and when some of these criteria have been satisfied often involves assumptions and judgments that can have a significant impact on the timing and amount of revenue we report. The Company charges our users a fee for non-exclusive access to its web site that contains proprietary databases. The fee allows access to the web site for a one-year period. After the customer is provided with an identification number and trained in the use of the database, there are no incremental costs that will be incurred in serving this customer. The Company recognizes these charges over the life of the agreement. |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets – Software Costs The Company’s policy is to capitalize software development costs at original cost and amortize the balance over the life of the product. The life of software development cost is determined at completion of the project. The Company reviews the amounts capitalized for impairment whenever events or circumstances indicate that the carrying amounts of the assets may not be recoverable. Amortization is recognized using the straight-line method over the following approximate useful lives: Software rights 5 Years The Software rights were fully developed as at balance sheet date. As of December 31, 2016, and 2015, carrying value of software costs was approximately $7,000 and $67,156, respectively. Amortization expense for the years ended December 31, 2016 and 2015 was $10,074 and $0, respectively. In accordance with the provisions of the applicable authoritative guidance, the Company’s long-lived assets and amortizable intangible assets are tested for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. The Company assesses the recoverability of such assets by determining whether their carrying value can be recovered through undiscounted future operating cash flows, including its estimates of revenue driven by assumed market segment share and estimated costs. If impairment is indicated, the Company measures the amount of such impairment by comparing the fair value to the carrying value. The Company performed an impairment testing at the year- end and wrote down the value of the software to $7,000, based on consideration to be paid per agreement for the sale of the software rights subsequent to year end, see Note 9. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company’s long-lived assets and other assets (consisting of property and equipment) are reviewed for impairment in accordance with the guidance of the FASB ASC Topic 360-10, Property, Plant, and Equipment, and FASB ASC Topic 205, Presentation of Financial Statements. Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the undiscounted future net cash flows expected to be generated by that asset. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Through December 31, 2016, the Company had not experienced impairment losses on its long-lived assets. During the year ended December 31, 2016, the company recorded an impairment loss on the software rights. |
Receivables, Policy [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount, net of related cash discounts, and do not bear interest. The Company does not have any off-balance sheet exposure related to the Company’s customers. The Company maintains an allowance for doubtful accounts related to its accounts receivable that have been deemed to have a high risk of collectability. Management reviews its accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. Management analyzes historical collection trends and changes in its customer payment patterns, customer concentration and creditworthiness when evaluating the adequacy of its allowance for doubtful accounts. In its overall allowance for doubtful accounts, the Company includes any receivable balances that are determined to be uncollectible. Based on the information available, management believes the allowance for doubtful accounts is adequate; however, actual write-offs might exceed the recorded allowance. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs Advertising costs are expensed as incurred. Advertising costs for the years ended December 31, 2016 and 2015 were $0. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The book values of cash, prepaid expenses, and accounts payable approximate their respective fair values due to the short-term nature of these instruments. The fair value hierarchy under GAAP distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels • Level one — Quoted market prices in active markets for identical assets or liabilities; • Level two — Inputs other than level one inputs that are either directly or indirectly observable; and • Level three — Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Determining which category an asset or liability falls within the hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic earnings per share are computed by dividing the net income by the weighted-average number of shares of common stock and common stock equivalents (primarily outstanding options and warrants). Common stock equivalents represent the dilutive effect of the assumed exercise of the outstanding stock options and warrants, using the treasury stock method. The calculation of fully diluted earnings per share assumes the dilutive effect of the exercise of outstanding options and warrants at either the beginning of the respective period presented or the date of issuance, whichever is later. |
Income Tax, Policy [Policy Text Block] | Income Taxes An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss (NOLs) carryover. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. In the event the Company is charged interest or penalties related to income tax matters, the Company would record such interest as interest expense and would record such penalties as other expense in the consolidated statements of operations. No such charges have been incurred by the Company. For the years ended December 31, 2016 and 2015, the Company had no uncertain tax positions. |
Commitments and Contingencies, Policy [Policy Text Block] | Contingencies Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements Going Concern ASU 2014-15 – “Presentation of Financial Statements—Going Concern—Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”).” In August 2014, FASB issued guidance that requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. The updated accounting guidance was effective for the Company on December 31, 2016. We have implemented this new accounting standard and we will update our liquidity disclosures as necessary. Recent Accounting Pronouncements Recently-Issued Accounting Standards: Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. Financial Instruments In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 will be effective for the Company beginning in its first quarter of 2019. The Company does not believe the adoption of ASU 2016-01 will have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit losses of certain financial instruments. ASU 2016-13 will be effective for the Company beginning in its first quarter of 2021 and early adoption is permitted. The Company does not believe the adoption of ASU 2016-13 will have a material impact on its consolidated financial statements. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which modified lease accounting for both lessees and lessors to increase transparency and comparability by recognizing lease assets and lease liabilities by lessees for those leases classified as operating leases under previous accounting standards and disclosing key information about leasing arrangements. ASU 2016-02 will be effective for the Company beginning in its first quarter of 2020, and early adoption is permitted. The Company is currently evaluating the timing of its adoption and the impact of adopting ASU 2016-02 on its consolidated financial statements. Stock Compensation In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which simplified certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification on the statement of cash flows. ASU 2016-09 will be effective for the Company beginning in its first quarter of 2018. The Company is currently evaluating the impact of adopting ASU 2016-09 on its consolidated financial statements. Income Taxes In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory (“ASU 2016-16”), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. ASU 2016-06 will be effective for the Company in its first quarter of 2019. The Company is currently evaluating the impact of adopting ASU 2016-16 on its consolidated financial statements. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2019, and early adoption is permitted. Subsequently, the FASB has issued the following standards related to ASU 2014-09: ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (“ASU 2016-08”); ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (“ASU 2016-10”); and ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”). The Company must adopt ASU 2016-08, ASU 2016-10 and ASU 2016-12 with ASU 2014-09 (collectively, the “new revenue standards”). The new revenue standards may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company currently expects to adopt the new revenue standards in its first quarter of 2018 utilizing the full retrospective transition method. The Company does not expect adoption of the new revenue standards to have a material impact on its consolidated financial statements. |
3 - INTANGIBLE ASSETS - SOFTW17
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Software rights, net consisted of the following: December 31, 2016 December 31, 2015 Software rights $ 67,156 $ 67,156 Less: Accumulated amortization (10,074 ) - Impairment loss (50,082 ) $ 7,000 $ 67,156 |
5 - INCOME TAXES (Tables)
5 - INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities recognized for financial reporting, and the amounts recognized for income tax purposes. The significant components of deferred tax assets (at a 38% effective tax rate) as of December 31, 2016 and 2015, respectively, are as follows: Total Total Deferred Tax Asset 2016 2015 2016 2015 Net operating loss carry-forward 231,000 46,000 88,000 18,000 Less: valuation allowance (231,000 ) (46,000 ) (88,000 ) (18,000 ) Total $ - $ - $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The reconciliation between income taxes (benefit) at the U.S. and State statutory tax rates and the amount recorded in the accompanying financial statements is as follows: December 31, December 31, 2016 2015 Tax benefit at U.S. federal statutory rate $ (70,000 ) $ (18,000 ) State income taxes/(benefit) before valuation allowance, net of federal benefit - - Increase in valuation allowance 70,000 18,000 Total provision for income tax benefit $ - $ - |
1 - BACKGROUND AND DESCRIPTIO19
1 - BACKGROUND AND DESCRIPTION OF BUSINESS (Details) - Computer Software, Intangible Asset [Member] | Dec. 31, 2016 |
Green Tree Software LLC [Member] | |
1 - BACKGROUND AND DESCRIPTION OF BUSINESS (Details) [Line Items] | |
Interest in Intangible Asset | 51.00% |
Titan Computer Services [Member] | |
1 - BACKGROUND AND DESCRIPTION OF BUSINESS (Details) [Line Items] | |
Interest in Intangible Asset | 49.00% |
2 - SUMMARY OF SIGNIFICANT AC20
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | $ 20,043 | $ 87,639 | $ 0 |
Net Income (Loss) Attributable to Parent | (184,977) | (46,358) | |
Working Capital (Deficit) | (49,000) | 77,000 | |
Capitalized Computer Software, Net | 7,000 | 67,156 | |
Amortization of Intangible Assets | 10,074 | 0 | |
Advertising Expense | $ 0 | $ 0 | |
Computer Software, Intangible Asset [Member] | |||
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years |
3 - INTANGIBLE ASSETS - SOFTW21
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS (Details) - USD ($) | Apr. 27, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS (Details) [Line Items] | |||
Amortization of Intangible Assets | $ 10,074 | $ 0 | |
Greentree Magic Software [Member] | |||
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS (Details) [Line Items] | |||
Equity Method Investment, Ownership Percentage | 49.00% | ||
Payments to Acquire Businesses, Gross | $ 67,156 | ||
Share Price (in Dollars per share) | $ 0.001 | ||
Business Acquisition, Equity Interest Issued or Issuable, Description | The agreement also provides that if the Company does not become a publicly traded company subject to the reporting requirements of the Securities Exchange Act of 1934 prior to April 27, 2017, or if the software does not generate at least $25,000 of revenue by such date, the 49% interest the Company has in the software shall revert back to Green Tree and Green Tree shall return 7,350,000 common shares of the Company back to the current shareholders of the Company and 7,350,000 of the Company’s common shares to Rosenweiss. | ||
Business Combination, Liabilities Arising from Contingencies, Amount Recognized | $ 13,156 | $ 13,156 | |
Green Tree Software LLC [Member] | Greentree Magic Software [Member] | |||
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS (Details) [Line Items] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 7,350,000 | ||
Rosenweiss [Member] | Greentree Magic Software [Member] | |||
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS (Details) [Line Items] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 7,350,000 |
3 - INTANGIBLE ASSETS - SOFTW22
3 - INTANGIBLE ASSETS - SOFTWARE RIGHTS (Details) - Schedule of Finite-Lived Intangible Assets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Finite-Lived Intangible Assets [Abstract] | ||
Software rights | $ 67,156 | $ 67,156 |
Less: Accumulated amortization | (10,074) | 0 |
Impairment loss | (50,082) | 0 |
$ 7,000 | $ 67,156 |
4 - LOAN PAYABLE - RELATED PA23
4 - LOAN PAYABLE - RELATED PARTY (Details) - USD ($) | Jun. 28, 2016 | May 29, 2015 | Apr. 27, 2015 | Jun. 30, 2015 | Apr. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
4 - LOAN PAYABLE - RELATED PARTY (Details) [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 25,000 | 3,000,000 | 101,459 | 13,000,000 | |||
Sale of Stock, Price Per Share (in Dollars per share) | $ 0.5 | $ 0.023 | $ 0.35 | $ 0.001 | |||
Proceeds from Issuance of Common Stock | $ 12,500 | $ 70,000 | $ 35,511 | $ 13,000 | $ 12,500 | $ 118,511 | |
Rosenweiss [Member] | |||||||
4 - LOAN PAYABLE - RELATED PARTY (Details) [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 3,000,000 | ||||||
Sale of Stock, Percentage of Ownership after Transaction | 10.00% | ||||||
Sale of Stock, Price Per Share (in Dollars per share) | $ 0.023 | ||||||
Proceeds from Issuance of Common Stock | $ 70,000 | ||||||
Debt Instrument, Face Amount | $ 50,000 | ||||||
Proceeds from Notes Payable | $ 50,000 | ||||||
Debt Instrument, Frequency of Periodic Payment | annual | ||||||
Debt Instrument, Periodic Payment | $ 10,000 | ||||||
Debt Instrument, Date of First Required Payment | May 29, 2019 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% |
5 - INCOME TAXES (Details)
5 - INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Effective Income Tax Rate Reconciliation, Percent | 38.00% | 38.00% |
Operating Loss Carryforwards | $ 231,000 | $ 46,000 |
Operating Loss Carryforwards, Expiration Date | 2,031 | |
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | 100.00% | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 88,000 | $ 18,000 |
5 - INCOME TAXES (Details) - Sc
5 - INCOME TAXES (Details) - Schedule of Deferred Tax Assets - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Deferred Tax Assets [Abstract] | ||
Net operating loss carry-forward | $ 231,000 | $ 46,000 |
Net operating loss carry-forward | 88,000 | 18,000 |
Less: valuation allowance | (231,000) | (46,000) |
Less: valuation allowance | (88,000) | (18,000) |
Total | 0 | 0 |
Total | $ 0 | $ 0 |
5 - INCOME TAXES (Details) - 26
5 - INCOME TAXES (Details) - Schedule of Effective Income Tax Rate Reconciliation - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Effective Income Tax Rate Reconciliation [Abstract] | ||
Tax benefit at U.S. federal statutory rate | $ (70,000) | $ (18,000) |
State income taxes/(benefit) before valuation allowance, net of federal benefit | 0 | 0 |
Increase in valuation allowance | 70,000 | 18,000 |
Total provision for income tax benefit | $ 0 | $ 0 |
7 - RELATED PARTY TRANSACTIONS
7 - RELATED PARTY TRANSACTIONS (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
7 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Deferred Revenue | $ 4,000 | |
Green Tree Software LLC [Member] | ||
7 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Related Party Transaction, Amounts of Transaction | 9,310 | $ 0 |
Revenue from Related Parties | 5,000 | 0 |
Director [Member] | Officer Payroll and Benefits [Member] | ||
7 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Costs and Expenses, Related Party | 10,000 | |
Related Party Transaction, Amounts of Transaction | 24,000 | |
Chief Executive Officer [Member] | ||
7 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||
Due to Related Parties | $ 12,000 | $ 0 |
8 - STOCKHOLDERS' EQUITY (DEF28
8 - STOCKHOLDERS' EQUITY (DEFICIENCY) (Details) - USD ($) | Jul. 01, 2016 | Jun. 28, 2016 | Apr. 27, 2015 | Jun. 30, 2015 | Apr. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Feb. 28, 2015 | Jan. 31, 2015 |
8 - STOCKHOLDERS' EQUITY (DEFICIENCY) (Details) [Line Items] | |||||||||
Shares of Stock Authorized | 75,000,000 | 200 | |||||||
Common Stock, Shares Authorized | 70,000,000 | 70,000,000 | 70,000,000 | ||||||
Common Stock, No Par Value (in Dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | 5,000,000 | ||||||
Stock Issued During Period, Shares, New Issues | 25,000 | 3,000,000 | 101,459 | 13,000,000 | |||||
Sale of Stock, Price Per Share (in Dollars per share) | $ 0.5 | $ 0.023 | $ 0.35 | $ 0.001 | |||||
Proceeds from Issuance of Common Stock (in Dollars) | $ 12,500 | $ 70,000 | $ 35,511 | $ 13,000 | $ 12,500 | $ 118,511 | |||
Stock Issued During Period, Shares, Acquisitions | 14,700,000 | ||||||||
Payments to Acquire Intangible Assets (in Dollars) | $ 54,000 | $ 0 | $ 54,000 | ||||||
Shares Cancelled | 1,000,000 | ||||||||
Shares Cancelled, Value (in Dollars) | $ 1,000 | ||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | |||||||
Preferred Stock, Shares Issued | 0 | 0 | |||||||
Common Stock, Shares, Outstanding | 29,826,659 | 30,801,659 | |||||||
Common Stock, Shares, Issued | 29,826,659 | 30,801,659 | |||||||
Greentree Magic Software [Member] | |||||||||
8 - STOCKHOLDERS' EQUITY (DEFICIENCY) (Details) [Line Items] | |||||||||
Equity Method Investment, Ownership Percentage | 49.00% |
9 - SUBSEQUENT EVENTS (Details)
9 - SUBSEQUENT EVENTS (Details) - Subsequent Event [Member] - USD ($) | Mar. 02, 2017 | Feb. 06, 2017 |
9 - SUBSEQUENT EVENTS (Details) [Line Items] | ||
Sale of Stock, Description of Transaction | Green Tree Software LLC and Pivotal Solutions, Inc., entities controlled by Steven Edelman, sold an aggregate of 14,716,666 of the registrant’s shares of common stock to Abraham Rosenblum, the President and CEO of our Company for an aggregate purchase price of $12,500 paid for by Mr. Rosenblum’s personal funds. Due to delays in delivery of the purchased shares, this transaction did not close until March 6, 2017. | |
Sale of Stock, Number of Shares Issued in Transaction (in Shares) | 14,716,666 | |
Sale of Stock, Consideration Received on Transaction | $ 12,500 | |
Proceeds from Divestiture of Businesses | $ 7,000 |