| Summary of Significant Accounting Policies | Note 2 – Summary of significant accounting policies Cash and Cash Equivalents For purposes of reporting within the statements
of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all
highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. Software Development Costs Costs incurred to develop computer software
products to be sold or otherwise marketed are charged to expense until technological feasibility of the product has been established.
Once technological feasibility has been established, computer software development costs (consisting primarily of internal labor
costs) are capitalized and reported at the lower of amortized cost or estimated realizable value. Purchased software development
cost is capitalized and recorded at its estimated fair market value. When a product is ready for general release, its capitalized
costs are amortized on a product-by-product basis. The annual amortization is the greater of the amounts of: the ratio
that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product and,
the straight-line method over the remaining estimated economic life (a period of three to ten years) of the product including
the period being reported on. Amortization of capitalized software development costs are included in the cost of revenues line
on the condensed statements of comprehensive income. If the future market viability of a software product is less than anticipated,
impairment of the related unamortized development costs could occur, which could significantly impact the Company’s results
of operations. Revenue Recognition Software license revenue is recognized
when persuasive evidence of an arrangement exists, delivery of the product component has occurred, the fee is fixed and determinable,
and collectability is reasonably assured. If any of these criteria are not met, revenue recognition is deferred until such time
as all of the criteria are met. The Company accounts for delivered elements
in accordance with the selling price when arrangements include multiple product components or other elements and vendor-specific
objective evidence exists for the value of all undelivered elements. Revenues on undelivered elements are recognized once delivery
is complete. In those instances, in which arrangements
include significant customization, contractual milestones, acceptance criteria or other contingencies, the Company accounts for
the arrangements using contract accounting, as follows:
· when customer acceptance can be estimated, but reliable estimated costs to complete cannot be determined, expenditures are capitalized as work-in process and deferred until completion of the contract at which time the costs and revenues are recognized.
· when customer acceptance cannot be estimated based on historical evidence, costs are expensed as incurred and revenue is recognized at the completion of the contract when customer acceptance is obtained. The Company records amounts collected
from customers in excess of recognizable revenue as deferred revenue in the accompanying consolidated balance sheets. Revenues
for maintenance agreements, software support, online services and information products are recognized ratably over the term of
the service agreement. The Company recognizes revenue on
a net basis, which excludes sales tax collected from customers and remitted to governmental authorities. The Company has
had minimal revenues from two customers in three transactions as the Company was developing its technology and platform. One transaction
on September 1, 2016 for $1,250 was for a "white label" administration scheduler software. On November
1, 2016 the Company entered into a Licensing Agreement. The agreement grants the Licensee rights to grant sublicense to third parties.
The license agreement calls for a one time non refundable fee of $10,000 and a $3,000 set up and training fee. The license agreement
also calls for a five percent (5%) royalty on further sales by licensees, but no royalty fees have been received to date.
All fees and royalty payments are to be recognized over the life of the agreement, which terminates on December 1, 2021. On November
5, 2016 the Company received a payment of $10,000 as a non-refundable up-front payment for a non-exclusive license for use of the
Company's software. Another transaction on the same date was a training fee of $3,000 in conjunction with a non-exclusive license.
The Company recognized $640 during the three months ended September 30, 2017 and $1,918 of revenue during the nine months ended
September 30, 2017. As of September 30, 2017 and December 31, 2016, there was deferred revenue of $10,656 and $12,574, respectively. Income Taxes The Company accounts for income taxes pursuant
to FASB ASC Topic 740, Income Taxes The Company maintains a valuation allowance
with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing
the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the
current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the
carry-forward period under the Federal tax laws. Changes in circumstances, such as the Company generating taxable income, could
cause a change in judgment about the reliability of the related deferred tax asset. Any change in the valuation allowance will
be included in income in the year of the change in estimate. We classify tax-related penalties and net interest
on income taxes as income tax expense. As of September 30, 2017 and September 30, 2016, no income tax expense had been incurred. Estimates The financial statements are prepared on the
basis of accounting principles generally accepted in the United States of America. The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities as of September 30, 2017 and December 31, 2016. Actual results could differ from those estimates made
by management. Earnings (loss) per share Basic earnings (loss) per share calculations
are determined by dividing net income (loss) by the weighted average number of shares outstanding during the year. Diluted earnings
(loss) per share calculations are determined by dividing net income (loss) by the weighted average number of shares. The Company
does not have any potentially dilutive instruments or common stock equivalents. Basic and diluted loss per share for the three
and nine-month periods ended September 30, 2017 and September 30, 2016 are the same and if the Company had any common stock equivalents
they would be excluded from the calculation because their effect is anti-dilutive Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards
Board (“FASB”) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers In November
2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes In January,
2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Liabilities In February
2016, the FASB issued ASU No. 2016-02, Leases In March 2016,
the FASB issued Accounting Standards Update (“ASU”) 2016-19 that provides a new requirement to record all of the tax
effects related to share-based payments at settlement (or expiration) through the income statement. This pronouncement is effective
for annual reporting periods beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15,
2018, for nonpublic entities. The Company is still evaluating the impact that the new accounting guidance will have on its consolidated
financial statements and related disclosures In
August 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-15 update addressing the classification and presentation
of eight specific cash flow issues that currently result in diverse practices. The amendments provide guidance in the presentation
and classification of certain cash receipts and cash payments in the statement of cash flows including debt prepayment or debt
extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination,
proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, and
distributions received from equity method investees. This pronouncement is effective for annual reporting periods beginning after
December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019, for nonpublic entities.
The amendments in this ASU should be applied using a retrospective approach. The Company is still evaluating the impact that the
new accounting guidance will have on its consolidated financial statements and related disclosures. |
