Kelvin Medical (KVMD) 10-K 13 Oct 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Kelvin Medical, Inc.
Entity Central Index Key	1,679,836
Trading Symbol	KVMD
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-K
Document Period End Date	Jun. 30, 2017
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float		$ 0
Entity Common Stock, Shares Outstanding	64,097,500

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Current assets
Cash and cash equivalents	$ 17,280	$ 1,076
Other receivable	3,000
Deferred offering costs		60,000
Total current assets	20,280	61,076
TOTAL ASSETS	20,280	61,076
Current liabilities
Accounts payable	4,500
Accounts payable, related parties	19,039	2,583
Advances, related parties	5,309	1,830
Customer deposit	120	120
Total current liabilities	28,968	4,533
Total liabilities	28,968	4,533
Commitments and Contingencies
Stockholders' equity (deficit)
Common stock, $0.001 par value: shares authorized 100,000,000; 64,097,500 and 63,000,000 shares issued and outstanding as June 30, 2017 and 2016 respectively	64,098	63,000
Additional paid in capital	77,852	57,000
Retained deficit	(150,638)	(63,457)
Total stockholders' equity (deficit)	(8,688)	56,543
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$ 20,280	$ 61,076

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Jun. 30, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, shares issued	64,097,500	63,000,000
Common stock, shares, outstanding	64,097,500	63,000,000

Statements of Operations

Statements of Operations - USD ($)	2 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2017
Income Statement [Abstract]
Net sales
Cost of goods sold
Gross profit
Operating expenses:
Management fees	62,000	12,000
Patent license fees	583	7,000
Professional fees		4,549
Financing costs		60,000
General and administrative expenses	874	3,632
Total operating expenses	63,457	87,181
Loss from operations	(63,457)	(87,181)
Income (loss) before taxes	(63,457)	(87,181)
Provision for income tax expense
Net (loss)	$ (63,457)	$ (87,181)
Net (loss) per common shares (basic and diluted)	$ 0	$ 0
Weighted average shares outstanding - Basic and diluted	50,839,286	63,238,178

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity/(Deficit) - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Deficit
Balance at May. 05, 2016
Balance, shares at May. 05, 2016
Issuance of common stock for services at $0.001 per share	60,000	$ 60,000
Issuance of common stock for services at $0.001 per share, shares		60,000,000
Issuance of common stock for services at $0.02 per share	60,000	$ 3,000	57,000
Issuance of common stock for services at $0.02 per share, shares		3,000,000
Net loss for the period	(63,457)			(63,457)
Balance at Jun. 30, 2016	56,543	$ 63,000	57,000	(63,457)
Balance, shares at Jun. 30, 2016		63,000,000
Issuance of common stock from private placement at $0.02 per share	21,950	$ 1,098	20,852
Issuance of common stock from private placement at $0.02 per share, shares		1,097,500
Net loss for the period	(87,181)			(87,181)
Balance at Jun. 30, 2017	$ (8,688)	$ 64,098	$ 77,852	$ (150,638)
Balance, shares at Jun. 30, 2017		64,097,500

Statement of Changes in Stockh6

Statement of Changes in Stockholders' Equity/(Deficit) (Parenthetical)	Jun. 30, 2017$ / shares
Statement of Stockholders' Equity [Abstract]
Issuance of common stock for services, price per share	$ 0.001
Issuance of common stock for services one, price per share	0.02
Issuance of common stock for private placement, per share	$ 0.02

Statement of Cash Flows

Statement of Cash Flows - USD ($)	2 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2017
Cash Flows from Operating Activities
Net loss	$ (63,457)	$ (87,181)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for services	60,000
Changes in operating assets and liabilities:
Other receivable		(3,000)
Deferred financing costs		60,000
Accounts payable		4,500
Accounts payable, related parties	2,583	16,456
Customer deposits	120
Net cash used in operating activities	(754)	(9,225)
Cash Flows from Investing Activities
Net cash provided from (used by) investing activities
Cash Flows from Financing Activities
Advances,related parties	1,830	3,479
Proceeds from private placement		21,950
Net cash provided from (used by) financing activities	1,830	25,429
Increase (decrease) in cash and cash equivalents	1,076	16,204
Cash and cash equivalents at beginning of period		1,076
Cash and cash equivalents at end of period	1,076	17,280
Cash paid (received) during year for:
Interest
Income taxes

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2017
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Activity: To date, our activities have been limited to formation and the development of a business plan. During the year we concluded a registration statement to offer up to 30,000,000 shares at $0.02 per share. We have successfully obtained a listing on the OTC Pink Markets under the symbol "KVMD", but have not yet commenced trading of our shares. Our offering was completed during the year and we are now exploring other sources of capital to fund our operations so that we can fully implement our business plan. In the current emerging growth phase, we anticipate we will continue to incur operating losses. Financial Statement Presentation: Fiscal year end: Use of Estimates: Cash Equivalents: Revenue recognition and related allowances: Accounts Receivable and Allowance for Doubtful Accounts: Inventories: Warranty: Advertising and Marketing Costs: Income taxes: Basic and Diluted Loss Per Share New Accounting Pronouncements: In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. The new guidance provides clarity and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. The accounting standard update will be effective for The Company beginning January 1, 2018 on a prospective basis, and early adoption is permitted. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on the consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, "Premium Amortization on Purchased Callable Debt Securities" that shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. This guidance is effective for annual periods beginning after December 15, 2018, and interim periods within those fiscal years with early adoption permitted. This guidance will be adopted using a modified retrospective transition approach. The adoption of this guidance is not expected to materially impact our results of operations, financial condition or liquidity. In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, . In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . In October 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory (Topic 740): This update simplifies the accounting for the income tax consequences of transfers of assets from one unit of a corporation to another unit or subsidiary by eliminating an accounting exception that prevents the recognition of current and deferred income tax consequences for such "intra-entity transfers" until the assets have been sold to an outside party. The amendment should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment directly to retained earnings as of the beginning of the period In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15). The Company has evaluated all new accounting standards that are in effect and may impact its financial statements and does not believe that there are any other new accounting standards that have been issued that might have a material impact on its financial position or results of operations.

Going Concern

Going Concern	12 Months Ended
	Jun. 30, 2017
Going Concern [Abstract]
GOING CONCERN	2. GOING CONCERN The Company has experienced net losses to date, and it has not generated revenue from operations. The Company will need additional working capital to service debt and for ongoing operations, which raises substantial doubt about its ability to continue as a going concern. Management of the Company has developed a strategy to meet operational shortfalls which may include equity funding, short-term or long-term financing or debt financing, to enable the Company to reach profitable operations. If the Company fails to generate positive cash flow or obtain additional financing, when required, it may have to modify, delay, or abandon some or all of its business and expansion plans. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amount and classification of liabilities that might cause results from this uncertainty.

Patent License Agreement

Patent License Agreement	12 Months Ended
	Jun. 30, 2017
Patent License Agreement [Abstract]
PATENT LICENSE AGREEMENT	3. PATENT LICENSE AGREEMENT On May 10, 2016, the Company entered into a patent license agreement with Oasis Medical Solutions, a sole proprietorship controlled by our board of directors and organized in the State of California ("Licensor") under which the Licensor desires to grant and the Company desires to accept an exclusive license of the Patent for the building of, and use of, machines incorporating the Patent's technology under certain terms and conditions. Both of the parties agree that the ownership of the Patent and the goodwill relating thereto, and any associated improvements, whether developed by the Company, or both parties jointly, shall remain vested in Licensor both during the term of the agreement and thereafter, and the Company further agrees never to challenge, contest or question the validity of the Licensor's ownership of the Patent or any associated registrations therewith. As consideration for the exclusive license granted, the Company shall pay to Licensor the following fees: (a) An ongoing maintenance fee of $500 per month plus an additional annual fee of $1,000; (b) Royalty fees of 6% per machine sold or leased under this license, payable within thirty (30) days of agreement reached with the customer/lessee. Payments can be grouped on a monthly occurring basis; (c) This license shall be considered null and void if production is not obtained within a 5-year period of the date stated above and the license, and all rights thereunder, will return to the Licensor. The term of the license agreement shall be for 15 years, but will not extend beyond the full term of the patent. Within a year from the ending of the patent term, parties may negotiate an ongoing arrangement. During the twelve months ended June 30, 2017, the Company incurred $7,000 in license fees (June 30, 2016 - $583).

Consulting Agreement

Consulting Agreement	12 Months Ended
	Jun. 30, 2017
Consulting Agreement [Abstract]
CONSULTING AGREEMENT	4. CONSULTING AGREEMENT On June 1, 2016, the Company entered into a consulting agreement with a consultant who is in the business of assisting private companies in the process of going public and getting listed on the OTC Pink through the Form S-1 Registration. Under the terms of the consulting agreement, the Consultant shall provide certain services with respect to the Form S-1 Registration Statement, from commencement and preparation of the Form S-1 to receipt of Notice of Effectiveness, retention and payment of the required legal and accounting professionals, and thereafter to work with a market maker to provide a completed and accepted Form 15c2-11 with FINRA, DTC eligibility, a trading symbol and listing on OTC Pink. As compensation under the consulting agreement S-1 Services LLC, the consultant, received 3,000,000 shares of the Company's common stock at $0.02 per share for a value of $60,000. The $60,000 in costs relating to such Registration Statement was expensed at the current fiscal year end as the offering was not deemed successful. Further, a balance of $3,000 is included on the balance sheet as "Other receivable", in respect to amounts advanced to service providers by the Company which are required to be reimbursed by the Consultant under this agreement.

Customer Deposits

Customer Deposits	12 Months Ended
	Jun. 30, 2017
Customer Deposits [Abstract]
CUSTOMER DEPOSITS	5. CUSTOMER DEPOSITS As at June 30, 2017 and June 30, 2016 the Company has received a customer deposit of $120 in respect to the sale of three units of the Therm-N-Ice arm band. The deposit represents a one-third deposit for each of the three units ordered.

Common Stock

Common Stock	12 Months Ended
	Jun. 30, 2017
Common Stock [Abstract]
COMMON STOCK	6. COMMON STOCK The Company has authorized 100,000,000 shares with par value of $0.001. Effective May 15, 2016 the Company issued 30,000,000 shares of common stock as a signing bonus valued at $30,000 or $0.001 per share, to our President, Mr. William Mandel. Effective May 15, 2016 the Company issued 30,000,000 shares of common stock as a signing bonus valued at $30,000 or $0.001 per share, to our Chairman, Dr. Margaret Austin. Effective June 1, 2016 the Company issued 3,000,000 shares of common stock in respect to the S-1 Services agreement valued at $60,000 or $0.02 per share (ref: Note 4). During the fiscal year ended June 30, 2017, the Company has received proceeds totaling $21,950 from various parties subscribing for a total of 1,097,500 shares at $0.02 per share under our Form S-1 registration statement.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	7. RELATED PARTY TRANSACTIONS a. Management services: On May 15, 2016, the Company entered into a twelve-month agreement for management services with Mr. William Mandel, our President, Secretary, Treasurer and member of the Board of Directors. Under the terms of the agreement the Company issued 30,000,000 shares as a bonus to Mr. William Mandel valued at $30,000 or par value, and shall pay $1,000 monthly in cash consideration. There has been $12,000 (2016- $2,000) accrued and recorded as Accounts Payable, Related party, in relation to services rendered for the fiscal year ended June 30, 2017 by Mr. Mandel. A total of $14,000 (2016 - $2,000) remains payable at June 30, 2017. The contract was extended for a further twelve month term during fiscal 2017. b. Advances During the year ended June 30, 2017 Oasis Medical Solutions, a sole proprietorship controlled by our board of directors, advanced a total of $3,935 (2016 - $1,374). As at June 30, 2017 a total of $5,309 remained due and payable (2016 - $1,374). During fiscal 2017 and amount advanced in the prior fiscal year totaling $456 by Kelvin Medical LLC, a company controlled by our board of directors, was assigned to Mr. William Mandel directly for repayment when Kelvin Medical LLC was dissolved. This amount is included in Accounts payable – related party on our balance sheets. Advances received were used to provide working capital as required by the Company for ongoing operations. c. License fees The Company accrues license fees in respect to a patent license agreement with Oasis Medical Solutions (ref: Note 3 above). As at June 30, 2017 a total of $4,583 remains payable under the terms of this agreement.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2017
Income Taxes [Abstract]
INCOME TAXES	8. INCOME TAXES Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Company's assets and liabilities. Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Company's tax return. Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. Operating loss carry-forwards generated during the period from May 5, 2016 (date of inception) through June 30, 2017 of approximately $150,638, will begin to expire in 2036. The Company applies a statutory income tax rate of 34%. The Company had deferred income tax assets as of June 30, 2017 and June 30, 2016 as follows: June 30, 2017 June 30, 2016 Loss carryforwards $ 51,217 $ 21,575 Less – accrued management fees (4,760 ) (680 ) Less - valuation allowance (46,457 ) (20,895 ) Total net deferred tax assets $ - $ - Tax years from inception to fiscal year ended June 30, 2016 are not yet filed and are open for examination by the taxing authorities.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	9. SUBSEQUENT EVENTS On August 23, 2017, Kelvin Medical, Inc. received its Trading Symbol, KVMD, and has been listed on the OTC Market Site (Pink). The Company has evaluated subsequent events from the balance sheet date through the date that the financial statements were issued and determined that there are no additional subsequent events to disclose.

Basis of Presentation and Sum17

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2017
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Financial Statement Presentation	Financial Statement Presentation:
Fiscal Year End	Fiscal year end:
Use of Estimates	Use of Estimates:
Cash Equivalents	Cash Equivalents:
Revenue recognition and related allowances	Revenue recognition and related allowances:
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts:
Inventories	Inventories:
Warranty	Warranty:
Advertising and Marketing Costs	Advertising and Marketing Costs:
Income taxes	Income taxes:
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share
New Accounting Pronouncements	New Accounting Pronouncements: In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. The new guidance provides clarity and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. The accounting standard update will be effective for The Company beginning January 1, 2018 on a prospective basis, and early adoption is permitted. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on the consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, "Premium Amortization on Purchased Callable Debt Securities" that shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. This guidance is effective for annual periods beginning after December 15, 2018, and interim periods within those fiscal years with early adoption permitted. This guidance will be adopted using a modified retrospective transition approach. The adoption of this guidance is not expected to materially impact our results of operations, financial condition or liquidity. In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, . In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . In October 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory (Topic 740): This update simplifies the accounting for the income tax consequences of transfers of assets from one unit of a corporation to another unit or subsidiary by eliminating an accounting exception that prevents the recognition of current and deferred income tax consequences for such "intra-entity transfers" until the assets have been sold to an outside party. The amendment should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment directly to retained earnings as of the beginning of the period In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15). The Company has evaluated all new accounting standards that are in effect and may impact its financial statements and does not believe that there are any other new accounting standards that have been issued that might have a material impact on its financial position or results of operations.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2017
Income Taxes [Abstract]
Schedule of deferred income tax assets	June 30, 2017 June 30, 2016 Loss carryforwards $ 51,217 $ 21,575 Less – accrued management fees (4,760 ) (680 ) Less - valuation allowance (46,457 ) (20,895 ) Total net deferred tax assets $ - $ -

Basis of Presentation and Sum19

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 01, 2016
Basis of Presentation and Summary of Significant Accounting Policies (Textual)
Offering price	$ 0.02		$ 0.02
Shares being offered	30,000,000
Advertising and marketing costs
Allowance for doubtful accounts
Cash equivalent term features	90 days or less from the date of purchase

Patent License Agreement (Detai

Patent License Agreement (Details) - USD ($)	2 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2017
Patent License Agreement (Textual)
License fees	$ 583	$ 7,000
Patent license agreement [Member]
Patent License Agreement (Textual)
Monthly maintenance fee		500
Annual license fee		$ 1,000
License agreement contingency, terms		This license shall be considered null and void if production is not obtained within a 5-year period of the date stated above and the license, and all rights thereunder, will return to the Licensor.
Payment terms, royalty fee		Royalty fees of 6% per machine sold or leased under this license, payable within thirty (30) days of agreement reached with the customer/lessee.
Term of license in years		15 years

Consulting Agreement (Details)

Consulting Agreement (Details) - USD ($)	Jun. 01, 2016	Jun. 30, 2016	Jun. 30, 2017
Consulting Agreement (Textual)
Shares issued to consultant for services received	3,000,000
Stock issued price, per share	$ 0.02		$ 0.02
Value of shares issued to consultant for services received	$ 60,000	$ 60,000
Offering costs		60,000
Other receivable			$ 3,000

Customer Deposits (Details)

Customer Deposits (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Customer Deposits (Textual)
Customer deposit	$ 120	$ 120
Deposits description	The deposit represents a one-third deposit for each of the three units ordered.

Common Stock (Details)

Common Stock (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 01, 2016	May 15, 2016
Common Stock (Textual)
Common stock, authorized	100,000,000	100,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	64,097,500	63,000,000	3,000,000
Value of shares issued	$ 64,098	$ 63,000	$ 60,000
Per share value	$ 0.02		$ 0.02
Proceeds from various parties, shares	1,097,500
Proceeds from various parties, value	$ 21,950
Mr. William Mandel [Member]
Common Stock (Textual)
Common stock, shares issued				30,000,000
Value of shares issued				$ 30,000
Per share value				$ 0.001
Dr. Margaret Austin [Member]
Common Stock (Textual)
Common stock, shares issued				30,000,000
Value of shares issued				$ 30,000
Per share value				$ 0.001

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	May 15, 2016	Jun. 30, 2016	Jun. 30, 2017	Jun. 01, 2016
Related Party Transactions (Textual)
Common stock, shares issued		63,000,000	64,097,500	3,000,000
Value of shares issued		$ 63,000	$ 64,098	$ 60,000
Accounts payable, related party		2,000	14,000
Advances, related parties		1,830	5,309
Additions during the period		1,830	3,479
License fees payable		583	7,000
Oasis Medical Solutions [Member]
Related Party Transactions (Textual)
Advances, related parties		1,374	5,309
Additions during the period		1,374	3,935
License fees payable			4,583
Kelvin Medical LLC [Member]
Related Party Transactions (Textual)
Advances, related parties		456	456
Mr. William Mandel [Member]
Related Party Transactions (Textual)
Common stock, shares issued	30,000,000
Value of shares issued	$ 30,000
Monthly cash consideration	$ 1,000
Accounts payable, related party		$ 2,000	$ 12,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Income Taxes [Abstract]
Loss carryforwards	$ 51,217	$ 21,575
Less - accrued management fees	(4,760)	(680)
Less - valuation allowance	(46,457)	(20,895)
Total net deferred tax assets

Income Taxes (Details Textual)

Income Taxes (Details Textual)	12 Months Ended
	Jun. 30, 2017USD ($)
Income Taxes (Textual)
Operating loss carry-forwards	$ 150,638
Operating loss carry forwards, expiration date	Jun. 30, 2036
Statutory income tax rate	34.00%