Med Spa Vacations (MDVP) 10-K 29 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 24, 2017	Jun. 30, 2016
Document And Entity Information
Entity Registrant Name	MED SPA VACATIONS INC.
Entity Central Index Key	1,671,077
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		14,350,000
Entity Public Float			$ 0
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
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 and cash equivalents	$ 44,797	$ 18,005
Restricted cash receivable	92
Total Current Assets	44,889	18,005
TOTAL ASSETS	44,889	18,005
Current Liabilities:
Accounts Payable	6,753
Total Current Liabilities	6,753
Total Liabilities	6,753
Stockholders' Equity:
Preferred stock, $0.001 par value, 25,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.001 par value, 100,000,000 shares authorized, 14,350,000 and 10,000,000 shares issued and outstanding at December 31, 2016 and 2015, respectively	14,350	10,000
Additional paid in capital	49,150	10,000
Accumulated deficit	(25,364)	(1,995)
Total Stockholders' Equity	38,136	18,005
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 44,889	$ 18,005

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	14,350,000	100,000,000
Common stock, shares outstanding	10,000,000	10,000,000

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016
Income Statement [Abstract]
Revenues
Operating Expenses:
General and administrative expenses	279	6,374
Professional fees	1,716	16,995
Total Operating Expenses	1,995	23,369
Loss from operations	(1,995)	(23,369)
Net Loss	$ (1,995)	$ (23,369)
Net loss per common share: Basic and Diluted	$ 0	$ 0
Weighted average number of common shares outstanding: Basic and Diluted	5,862,069	10,250,820

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated deficit	Total
Balance at Oct. 05, 2015
Balance (in shares) at Oct. 05, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for cash		$ 10,000	$ 10,000		$ 20,000
Common stock issued for cash (in shares)		10,000,000
Net loss				(1,995)	(1,995)
Balance at Dec. 31, 2015		$ 10,000	10,000	(1,995)	18,005
Balance (in shares) at Dec. 31, 2015		10,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for cash		$ 4,350	39,150		43,500
Common stock issued for cash (in shares)		4,350,000
Net loss				(23,369)	(23,369)
Balance at Dec. 31, 2016		$ 14,350	$ 49,150	$ (25,364)	$ 38,136
Balance (in shares) at Dec. 31, 2016		14,350,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,995)	$ (23,369)
Adjustments to reconcile net to net cash used in operating activities Changes in current assets and liabilities:
Increase in accounts payable		6,753
Increase in restricted cash receivable		(92)
Net cash used in Operating Activities	(1,995)	(16,708)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock for cash	20,000	43,500
Net cash provided by Financing Activities	20,000	43,500
Net cash increase for period	18,005	26,792
Cash at beginning of period		18,005
Cash at end of period	18,005	44,797
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for taxes
Cash paid for interest

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Med Spa Vacations Inc., (the “Company”) is a Nevada corporation incorporated on October 5, 2015. It is based in La Jolla, California. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is December 31. Med Spa Vacations plans to develop a business that specializes in marketing health and wellness vacations to both individuals and corporate groups that are looking to revitalize and develop a fuller day-to-day life. The Company is looking to establish a niche in the travel market that caters to sustained wellness and rejuvenation, recognizing the ever-increasing social trend toward finding of a more holistic balance in life. To date, the Company’s activities have been limited to the sourcing of its advertising channels, initial branding efforts, and in its formation and the raising of equity capital.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Going concern and Liquidity Considerations The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has does not have material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company has an accumulated deficit of $25,364. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company, including compliance costs for being a public company. Basis of Presentation The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. Use of Estimates and Assumptions 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. Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company had $44,797 and $18,005 in cash and cash equivalents as of December 31, 2016 and 2015, respectively. Restricted Cash The Company is required to restrict a portion of cash, per the terms of our merchant account agreement, for potential credit card chargebacks. We are subject to a cash reserve of up to 10% on credit card charges processed, with funds held for seven to twelve months depending on our account activity. As of December 31, 2016, the Company had $92 in restricted cash. Fair Value of Financial Instruments As required by the Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”), fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company's financial instruments consist primarily of cash and cash equivalents, restricted cash receivable and accounts payable. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. Concentrations of Credit Risks The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. Related Parties The Company follows ASC 850, “Related Party Disclosures,” Share-Based Expense ASC 718, "Compensation – Stock Compensation," prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, "Equity – Based Payments to Non-Employees." Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. There were no share-based expenses for the year ended December 31, 2016 and the period from October 5 (Inception) to December 31, 2015. Revenue Recognition The Company recognizes revenue when it is earned and realizable based on the following criteria: persuasive evidence that an arrangement exists, services have been rendered, the price is fixed or determinable and collectability is reasonably assured. The Company offers travel services on a stand-alone and package basis primarily through the agency model. Under the agency model, the Company acts as the agent in the transaction, passing reservations booked by the traveler to the relevant travel provider. The Company receives commissions from the travel supplier and/or traveler. Under the agency model, because the Company is not the primary obligor, the revenue is reported as a net basis. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes Earnings (Loss) per Share The Company computes loss per share in accordance with ASC 260, “Earnings per Share,” Recently Issued Accounting Pronouncements In January 2017, the FASB has issued Accounting Standards Update (ASU) No. 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” In December 2016, the FASB has issued Accounting Standards Update (ASU) No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 3 - STOCKHOLDERS' EQUITY Preferred Stock The Company has authorized 25,000,000 preferred shares with a par value of $0.001 per share. The Board of Directors are authorized to divide the authorized shares of Preferred Stock into one or more series, each of which shall be so designated as to distinguish the shares thereof from the shares of all other series and classes. Common Stock The Company has authorized 100,000,000 common shares with a par value of $0.001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. Since inception (October 5, 2015) to December 31, 2016, the Company has issued the following common shares: · During the period from October 5 (Inception) to December 31, 2015, the Company issued to two directors, who are also officers, 10,000,000 shares of common stock at $0.002 per share for $20,000 in cash. · During the year ended December 31, 2016, the Company issued to unaffiliated investors 4,350,000 shares of common stock at $0.01 per share for $43,500 in cash. The Company has no stock option plan, warrants or other dilutive securities. As of December 31, 2016 and 2015, there are 14,350,000 and 10,000,000 shares of common stock issued and outstanding, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 4 - INCOME TAXES We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Accounting for Uncertainty in Income Taxes when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of December 31, 2016 and 2015 are as follows: December 31 December 31 2016 2015 Net operating loss carryforward $ 25,364 $ 1,995 Effective Tax rate 34 % 34 % Deferred Tax Asset 8,624 678 Less: Valuation Allowance (8,624 ) (678 ) Net Deferred Asset $ - $ - At December 31, 2016, the Company had $25,364 in net operating losses (“NOLs”) that may be available to offset future taxable income, which begin to expire 2035. In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards are subject to annual limitations following greater than 50% ownership changes. The Company’s tax returns are subject to examination by tax authorities for the year ended December 31, 2016 and the period December 31, 2015.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 5 - RELATED-PARTY TRANSACTIONS During the period from October 5, 2015 (Inception) to December 31, 2015, the Company issued to two directors, who are officers, 10,000,000 shares of common stock at $0.002 per share for $20,000. The Company does not own or lease property or lease office space. The office space used by the Company was arranged by the founder of the Company to use at no charge.

SUMMARY OF SIGNIFICANT ACCOUN12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Going concern and Liquidity Considerations	Going concern and Liquidity Considerations The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has does not have material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company has an accumulated deficit of $25,364. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company, including compliance costs for being a public company.
Basis of Presentation	Basis of Presentation The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States.
Use of Estimates and Assumptions	Use of Estimates and Assumptions 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.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company had $44,797 and $18,005 in cash and cash equivalents as of December 31, 2016 and 2015, respectively.
Restricted Cash	Restricted Cash The Company is required to restrict a portion of cash, per the terms of our merchant account agreement, for potential credit card chargebacks. We are subject to a cash reserve of up to 10% on credit card charges processed, with funds held for seven to twelve months depending on our account activity. As of December 31, 2016, the Company had $92 in restricted cash.
Fair Value of Financial Instruments	Fair Value of Financial Instruments As required by the Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”), fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company's financial instruments consist primarily of cash and cash equivalents, restricted cash receivable and accounts payable. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments.
Concentrations of Credit Risks	Concentrations of Credit Risks The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.
Related Parties	Related Parties The Company follows ASC 850, “Related Party Disclosures,”
Share-Based Expense	Share-Based Expense ASC 718, "Compensation – Stock Compensation," prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, "Equity – Based Payments to Non-Employees." Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. There were no share-based expenses for the year ended December 31, 2016 and the period from October 5 (Inception) to December 31, 2015.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when it is earned and realizable based on the following criteria: persuasive evidence that an arrangement exists, services have been rendered, the price is fixed or determinable and collectability is reasonably assured. The Company offers travel services on a stand-alone and package basis primarily through the agency model. Under the agency model, the Company acts as the agent in the transaction, passing reservations booked by the traveler to the relevant travel provider. The Company receives commissions from the travel supplier and/or traveler. Under the agency model, because the Company is not the primary obligor, the revenue is reported as a net basis.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes
Earnings (Loss) per Share	Earnings (Loss) per Share The Company computes loss per share in accordance with ASC 260, “Earnings per Share,”
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In January 2017, the FASB has issued Accounting Standards Update (ASU) No. 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” In December 2016, the FASB has issued Accounting Standards Update (ASU) No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statement

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of deferred tax asset and reconciliation of income taxes	December 31 December 31 2016 2015 Net operating loss carryforward $ 25,364 $ 1,995 Effective Tax rate 34 % 34 % Deferred Tax Asset 8,624 678 Less: Valuation Allowance (8,624 ) (678 ) Net Deferred Asset $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Oct. 04, 2015
Accounting Policies [Abstract]
Accumulated deficit	$ (25,364)	$ (1,995)
Cash and cash equivalents	44,797	18,005
Restricted cash receivable	$ 92

STOCKHOLDERS EQUITY (Detail Tex

STOCKHOLDERS EQUITY (Detail Textuals) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016
Stockholders Equity [Line Items]
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	100,000,000	14,350,000
Common stock, shares outstanding	10,000,000	10,000,000
Issuance of common stock for cash	$ 20,000	$ 43,500
Director
Stockholders Equity [Line Items]
Common stock, par value	$ 0.002
Common stock, shares issued	10,000,000
Issuance of common stock for cash	$ 20,000
Unaffiliated investors
Stockholders Equity [Line Items]
Common stock, par value		$ 0.01
Common stock, shares issued		4,350,000
Issuance of common stock for cash		$ 43,500

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 25,364	$ 1,995
Effective Tax rate	34.00%	34.00%
Deferred Tax Asset	$ 8,624	$ 678
Less: Valuation Allowance	(8,624)	(678)
Net Deferred Asset

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 25,364	$ 1,995
Minimum limit for usage of companys net operating loss carry forwards	50.00%

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Detail Textuals) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016
Related Party Transaction [Line Items]
Number of common shares issued	100,000,000	14,350,000
Par value of common share	$ 0.001	$ 0.001
Proceeds from shares issuance	$ 20,000	$ 43,500
Director
Related Party Transaction [Line Items]
Number of common shares issued	10,000,000
Par value of common share	$ 0.002
Proceeds from shares issuance	$ 20,000