| Summary of Significant Accounting Policies | NOTE 2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Basis of Presentation The accompanying consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The company was incorporated on January 28,
2016, and the Company started its operations to trade the spot gold and spot silver on March 26, 2016. Additionally, it started
to trade equity securities on March 08, 2017 and Whisky . These accompanying consolidated financial statements
of the Company is for the fiscal year from April 01, 2018, to March 31, 2019, the subsidiary, Dewriver, Inc. was acquired in June
2018 and Landbay Inc. own 78.8% of the company and on March 05, 2019, all 78.8% ownership in Dewriver, Inc. was sold to Larison
Inc. b. Use of Estimates The preparation of financial statements in
conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and 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. c. Income Taxes The Company is responsible for paying federal,
state and local income tax and, accordingly, provisions are made for income taxes. d. Fair Value of Financial Instruments The Company's financial assets and liabilities
are carried at fair value or are carried at amounts which approximate fair value as the market value of such items is not materially
sensitive to shifts in market interest rates due to the limited term to maturity of these instruments. The Company adopted SFAS No. 157, which defines
fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date, and expands disclosures about investments that are measured and reported at fair value.
SFAS No. 157 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value
into three broad levels explained below: Level 1
Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability
to access. Valuation adjustments are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily
and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2
Pricing inputs are other than used in Level 1 which include the closing bid price for unlisted marketable securities which are
available in active or inactive markets for identical investments or liabilities, other direct or indirect observable inputs that
can be corroborated by market data or the use of models or other valuation methodologies as of the reporting date. Investments
which are generally included in this category include state and municipal obligations in an active or inactive market that are
valued using observable inputs other than quoted prices. Level 3
Pricing inputs are unobservable for the investment and include situations where there is little, if any, market activity for the
investment. The inputs into the determination of fair value require significant management judgment or estimation. Investments
that are included in this category generally include state and municipal obligations which are in an inactive market and valued
utilizing risk assumptions based on unobservable inputs. Unrealized gains and losses are included in
earnings and are reported in the Statement of Income as a component of other income and losses. Generally, for all trading securities,
fair value is determined by reference to quoted market prices and other relevant information generated by market transactions. As at March 31, 2019, the Company was liquid in its security positions. e. Basis of measurement The financial statements have been prepared
on the historical cost basis, except for the following material items in the statement of financial position: ·
All short-term investments including spot gold and spot silver and equity investments are
considered Trading Securities ·
Short-term investments at fair value through gains or losses are measured at fair value f. Cash and Cash Equivalents The financial statements are presented in US
dollar, which is the Company’s functional currency. Cash and cash equivalents include cash on hand; cash in banks and brokerage
accounts and all highly liquid investments with maturity of three months or less at the time purchase. The Company maintains its cash balance at a
financial institution located in New York, a trading account in Bullion Vault which is in England, Charles Schwab and with Alpine
Securities, which is a brokerage firm in Salt Lake City, Utah. Cash account at the New York institution are insured by the Federal
Deposit Insurance Corporation up to $250,000. At times during the year, the cash balances may exceed the FDIC insurance limits.
The following is a schedule of cash and cash equivalents at the year ended on June 30, 2019: Cash in Bank and brokerage accounts $ 16,119 g. Revenue Recognition The company recognizes capital gains and losses
from the spot gold trading, spot silver trading and equity security trading at the time it sells spot gold or silver and investment
securities from the trading through brokerage firms. Additionally, it recognizes unrealized gains and losses through adjustments
to the fair market value at the end of each period. The change in fair market value is reported on the income statement under “Revenues”
– “Unrealized Gain (loss) from investments”. |
