| Document and Entity Information - USD ($) | 12 Months Ended | |
| Sep. 30, 2017 | Mar. 31, 2017 | |
| Entity Registrant Name | Capax Inc. | |
| Document Type | 10-K | |
| Document Period End Date | Sep. 30, 2017 | |
| Trading Symbol | none | |
| Amendment Flag | false | |
| Entity Central Index Key | 1,707,910 | |
| Current Fiscal Year End Date | --09-30 | |
| Entity Public Float | $ 74,100 | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Current Reporting Status | No | |
| Entity Voluntary Filers | No | |
| Entity Well-known Seasoned Issuer | No | |
| Document Fiscal Year Focus | 2,017 | |
| Document Fiscal Period Focus | FY | |
| Common Class A | ||
| Entity Common Stock, Shares Outstanding | 900,000,000 | |
| Common Class B | ||
| Entity Common Stock, Shares Outstanding | 70,000,000 |
| Balance Sheets - USD ($) | Sep. 30, 2017 | Sep. 30, 2016 |
| Current assets | ||
| Cash and cash equivalent | $ 90,303 | |
| Total assets | 90,303 | |
| Current liabilities | ||
| Payable to related parties | 4,107 | |
| Total current liabilities | 4,107 | |
| Stockholders' equity | ||
| Class A Common stock: $.0001 par value; 900,000,000 shares authorized and 10,967,000 issued & outstanding for Sept 30 2017 and 230,000,000 shares authorized, 3,250,000 shares issued and outstanding for Sept 30, 2016 | 1,096 | $ 325 |
| Class B Common stock: $.0001 par value; 70,000,000 & 60,000,000 shares authorized for Sept 30, 2017 & Sept 30, 2016 and, 7,000,000 & 5,000,000 shares issued and outstanding for same periods | 700 | 500 |
| Additional paid-in capital | 111,455 | |
| Retained deficit | (27,055) | $ (825) |
| Total stockholders' equity | 86,196 | |
| Total liabilities and stockholders' equity | $ 90,303 |
| Statement of Financial Position - Parenthetical | Sep. 30, 2017$ / sharesshares |
| Preferred Stock, Par Value | $ / shares | $ 0.0001 |
| Preferred Stock, Shares Authorized | 30,000,000 |
| Preferred Stock, Shares Issued | 0 |
| Preferred Stock, Shares Outstanding | 0 |
| Class A | |
| Common Stock, Par Value | $ / shares | $ 0.0001 |
| Common Stock, Shares Authorized | 900,000,000 |
| Common Stock, Shares Issued | 0 |
| Common Stock, Shares Outstanding | 0 |
| Class B | |
| Common Stock, Par Value | $ / shares | $ 0.0001 |
| Common Stock, Shares Authorized | 70,000,000 |
| Common Stock, Shares Issued | 0 |
| Common Stock, Shares Outstanding | 0 |
| Statements of Income - USD ($) | 12 Months Ended | |
| Sep. 30, 2017 | Sep. 30, 2016 | |
| Operating expenses | ||
| Professional fees | $ 6,345 | |
| Administrative expenses | 19,885 | $ 825 |
| Total operating expenses | 26,230 | 825 |
| Loss from operations | 26,230 | 825 |
| Net loss | $ (26,230) | $ (825) |
| Basic and diluted net loss per common share | $ 0 | $ 0 |
| Basic and diluted weighted average number of common shares outstanding | 12,901,118 | 8,836,301 |
| Statements of Cash Flows - USD ($) | 12 Months Ended | |
| Sep. 30, 2017 | Sep. 30, 2016 | |
| Cash flows from operating activities: | ||
| Net loss | $ (26,230) | $ (825) |
| Adjustments to reconcile net income from continuting operations to cash used in operating activities: | ||
| Expense paid by related party treated as payable | 6,843 | |
| Net cash used in operating activities | (19,387) | (825) |
| Financing activities: | ||
| Payback related party loan | (2,736) | |
| Buyback of common stock | (200) | |
| Proceeds from sale of common stock | 112,426 | |
| Net cash provided by (used in) financing activities | 109,690 | (200) |
| Net increase (decrease) in cash | 90,303 | (1,025) |
| Cash at beginning of period | $ 1,025 | |
| Cash at end of period | $ 90,303 | |
| Statement of Stockholders' Equity | 12 Months Ended |
| Sep. 30, 2017USD ($)shares | |
| Balance Value at September 30, 2016 | $ 500 |
| Balance Shares at September 30, 2016 | shares | 5,000,000 |
| Net loss | $ (26,230) |
| Balance Value at September 30, 2017 | $ 86,196 |
| Balance Shares at September 30, 2017 | shares | 7,000,000 |
| Common Stock Class A | |
| Common stock issued for cash, value Sept 30, 2016 | $ 525 |
| Common stock issued for cash, shares Sept 30, 2016 | shares | 5,250,000 |
| Common stock bought back, value Sept 30, 2016 | $ (200) |
| Common stock bought back, shares Sept 30, 2016 | shares | (2,000,000) |
| Balance Value at September 30, 2016 | $ 325 |
| Balance Shares at September 30, 2016 | shares | 3,250,000 |
| Common stock bought back, value | $ (325) |
| Common stock bought back, shares | shares | (3,250,000) |
| Common stock issued for cash, value | $ 1,096 |
| Common stock issued for cash, shares | shares | 10,967,000 |
| Balance Value at September 30, 2017 | $ 1,096 |
| Balance Shares at September 30, 2017 | shares | 10,967,000 |
| Common Stock Class B | |
| Common stock issued for cash, value Sept 30, 2016 | $ 500 |
| Common stock issued for cash, shares Sept 30, 2016 | shares | 5,000,000 |
| Balance Value at September 30, 2016 | $ 500 |
| Balance Shares at September 30, 2016 | shares | 5,000,000 |
| Common stock bought back, value | $ (500) |
| Common stock bought back, shares | shares | (5,000,000) |
| Common stock issued for cash, value | $ 700 |
| Common stock issued for cash, shares | shares | 7,000,000 |
| Balance Value at September 30, 2017 | $ 700 |
| Balance Shares at September 30, 2017 | shares | 7,000,000 |
| Additional Paid-In Capital | |
| Common stock bought back, value | $ 825 |
| Common stock issued for cash, value | 110,630 |
| Balance Value at September 30, 2017 | 111,455 |
| Accumulated Deficit | |
| Net loss September 30, 2016 | (825) |
| Balance Value at September 30, 2016 | (825) |
| Net loss | (26,230) |
| Balance Value at September 30, 2017 | (27,055) |
| Total Stockholders' Equity (Deficit) | |
| Common stock issued for cash, value Sept 30, 2016 | 1,025 |
| Common stock bought back, value Sept 30, 2016 | (200) |
| Net loss September 30, 2016 | (825) |
| Common stock issued for cash, value | 112,426 |
| Net loss | (26,230) |
| Balance Value at September 30, 2017 | $ 86,196 |
| Note 1 - Description of Business | 12 Months Ended |
| Sep. 30, 2017 | |
| Notes | |
| Note 1 - Description of Business | NOTE 1 DESCRIPTION OF BUSINESS We incorporated our Company on in the State of Florida under the name Inc. We changed our name to Inc. ( the Company) on February , 201 . When we began, our primary planned business objective was to packag , market and distribut an infection healing cream for dairy animals |
| Note 2 - Significant Accounting Policies | 12 Months Ended |
| Sep. 30, 2017 | |
| Notes | |
| Note 2 - Significant Accounting Policies | NOTE 2 SIGNIFICANT ACCOUNTING POLICIES a. Basis of Presentation The accompanying financial statements include the accounts of the Company for the year ending September 201 and September 201 . Management uses estimates and assumptions in preparing financial statements in accordance with accounting principles generally accepted in the United States of America. Those estimates and assumptions affect the reported amounts of assets, liabilities, expenses and the disclosure of contingent assets and liabilities. Actual results could vary from those estimates New Accounting Pronouncements The FASB has issued the following accounting pronouncements and guidance which may be applicable to the Company. Accounting Standards Update (ASU) No. 2014-09 Revenue Recognition (Topic 606): In May 2014, the FASB issued a new standard related to revenue recognition. Under the new standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has recently issued several amendments to the standard, including identifying performance obligations and other technical corrections and minor improvements affecting a variety of topics and required disclosures in the new standard. This standard will be effective and the Company will adopt this standard on January 1, 2018. Entities have the option to apply the new guidance under a full retrospective approach or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application. Accounting Standards Update (ASU) No. 2016-02 Leases (Topic 842). This update will require assets and liabilities to be recognized on the balance sheet of a lessee for the rights and obligations created by leases of assets with terms of more than 12 months. For income statement purposes, the update retained a dual model, requiring leases to be classified as either operating or finance based on largely similar criteria to those applied in current lease accounting, but without explicit bright lines. ASU 2016-02 also requires extensive quantitative and qualitative disclosures, including significant judgments made by management, to provide greater insight into the extent of revenue and expense recognized and expected to be recognized from existing leases. This standard will be effective for the Company on January 1, 2019. Early adoption is permitted. There are not expected to a have a material impact on the Company's financial position, results of operations or cash flows. b. Cash and Cash Equivalents Cash consists of cash balances on deposit. The Company believes no significant concentration of credit risk exists with respect to these cash balances. The Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. The Company had no cash equivalents at September 30, 201 or at September 30, 201 . c. Income taxes The Company accounts for income taxes in accordance with accounting guidanc e now codified as FASB ASC Topic 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all deferred tax assets will not be realized. We recognize interest and penalties related to unrecognized tax benefits in operating expenses. As of September 30, 201 and 201 , there were no unrecognized tax benefits nor interest or penalties accrued related to unrecognized tax benefits, nor were any interest and penalties recognized during the year ended September 30, 201 d. Basic and Diluted Net Loss Per Share The Company computes loss per share in accordance with ASC-260, Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of September 30, 201 and 201 , the Company had no potential dilutive shares outstanding. e. Stock Based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation Stock Compensation which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. The fair value of the equity instrument is charged directly to compensation expense and additional paid-in capital over the period during which services are rendered. There has been no stock-based compensation issued to employees. The Company follows ASC Topic 505-50, Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services, for stock options and warrants issued to consultants and other non-employees. In accordance with ASC Topic 505-50, these stock options and warrants issued as compensation for services provided to the Company are accounted for based upon the fair value of the services provided or the estimated fair market value of the option or warrant, whichever can be more clearly determined. T stock-based compensation expense, related to all of the Companys stock-based awards, recognized for the years ended September 30, 201 and 201 . f. Related Party Transactions We consider all who own more than 5% shares and equity method investments to be related parties and record any transactions between them and the Company to be related party transactions and disclose such transactions on notes to the Financial Statements. Under ASC 850, examples of related party transactions also include those between: - A parent entity and its subsidiaries - Subsidiaries of a common parent, an entity and trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management - An entity and its principal owners, management, or members of their immediate families and affiliates Transactions between related parties are considered to be related party transactions even though they may not be given accounting recognition. For example, an entity may receive services from a related party without charge and not record receipt of the services. While not providing accounting or measurement guidance for such transactions, this Topic requires their disclosure nonetheless. g. Fair Value Measurement The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. |
| Note 3 - Note Payable Officer | 12 Months Ended |
| Sep. 30, 2017 | |
| Notes | |
| Note 3 - Note Payable Officer | NOTE The CEO uses his personal credit card to pay certain expenses on behalf of the Company that are reimbursed by the Company as soon as the credit card invoice is received and an expense reimbursement statement is presented, without payment of any interest. In the month of June and July 2017 the CEO had expenses of $1,764 incurred in his credit cards that was reimbursed in July 2017. In the month of August the CEO had expenses of $972 incurred and it was reimbursed to him in September 2017. In the months of September the CEO incurred expenses of $4,107 that had been accrued as of September 30, 2017 and was reimbursed in October 2017. |
| Note 4 - Equity | 12 Months Ended |
| Sep. 30, 2017 | |
| Notes | |
| Note 4 - Equity | NOTE EQUITY We have 300,000,000 authorized shares of capital stock, which consists of (i) 230,000,000 shares of Class A common stock, par value $0.0001 per share; (ii) 60,000,000 shares of Class B common stock, par value $0.0001 per share; and (iii) 10,000,000 shares of blank-check preferred stock, par value of $0.0001 per share. The holders of Class A common stock shall be entitled to one vote per share and shall be entitled to dividends as shall be declared by our Board of Directors from time to time. Each share of Class B common stock shall entitle the holder thereof to 10 votes for each one vote per share of Class A common stock, and with respect to such vote, shall be entitled, notwithstanding any provision hereof, to notice of any stockholders meeting in accordance with the bylaws of this corporation, and shall be entitled to vote, together as a single class with holders of Class A common stock with respect to any question or matter upon which holders of Class A common stock have the right to vote. Class B common stock shall also entitle the holders thereof to vote as a separate class as set forth herein and as required by law. Holders of Class B common stock shall be entitled to dividends as shall be declared by our Board of Directors from time to time at the same rate per share as the Class A common stock. The holders of the Class B common stock shall have the right to convert each one of their shares to one share of Class A common stock automatically by surrendering the shares of Class B common stock to us. As of September 30, 201 we have Class B common stock outstanding and Class A common stock outstanding. As of September 30, 2016 we have ,000,000 Class B common stock outstanding and Class A common stock outstanding. On , the Company issued restricted Class A Common Stock priced at $0. per share for a total value of $ and Also the Company valued at $ On Class A Common Stock of the Company that ought as a founding stockholder back to the Company at their purchase price of $.0001 per share In January 2017, NGFC Equities Inc. (NGFC) one of the founder-shareholders of the Company merged with another company and as a part of that merger, NGFC gave the ownership it had of Capax back to the Company representing 3,250,000 Class A Common Stock and 5,000,000 of Class B Common stock for On 8th of February 2017 we filed an amendment to our Articles of Incorporation to increase our authorized shares to 1,000,000,000 shares of capital stock, of which (i) 900,000,000 shares are Common Stock, $0.0001 par value per share; (ii) 70,000,000 shares are Class B common stock, par value $0.0001 per share; and (iii) 30,000,000 shares of blank-check preferred stock, $0.0001 par value per share. February 12, 2017 the Board appointed I Andrew Weeraratne (AW) as the Chairman of the Board of directors, Chief Executive Officer and the Chief Financial Officer of the Company and approved him buying 4,000,000 Class A common stock and 7,000,000 Class B common stock at the par value of $0.0001 per share that he paid in cash of $400 and $700 respectively Also on February 12, 2017 the Board approved a list of individuals, who we believe could help us with the operation of the company, buying 3,267,000 Class A common stock at par value of $0.0001 per share that were paid $326 in cash. In May 2017 we sold 3,700,000 unregistered shares of our Class A Common Stock at $0.03 per share to eight investors and we deposited $111,000. We closed this offering on June 30, 2017. |
| Note 5 - Our Office | 12 Months Ended |
| Sep. 30, 2017 | |
| Notes | |
| Note 5 - Our Office | NOTE Our offices are located at 7135 Collins Ave No. 624, Miami Beach, FL 33141 at the residence of our CEO for no charge and on a month by month basis Our telephone number is 305-865-8193 . |
| Note 6 - Income Taxes | 12 Months Ended |
| Sep. 30, 2017 | |
| Notes | |
| Note 6 - Income Taxes | NOTE INCOME TAXES As of September 30, 201 , the Company had net operating loss carry forwards of $ hat may be available to reduce future years taxable income through 203 . Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. Components of net deferred tax assets, including a valuation allowance, are as follows at September 30, 201 9-30-17 9-30-16 Net Operating loss carry-forward $ Net adjustments to taxes Adjusted NOL carry-forward Total deferred tax assets Less valuation allowances Net deferred tax asset $0 In assessing the recovery of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers the scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment. As a result, management determined it was more likely than not the deferred tax assets would not be realized as of September 30, 201 . We have filed the September 30, 2015 and 2016 tax returns with the IRS and will be soon filing the September 30, 2017 tax return. They all are eligible for examinations by the IRS since the IRS has the right to audit any corporate tax returns within three years of the date they have been filed. |
| Note 7 - Subsequent Events | 12 Months Ended |
| Sep. 30, 2017 | |
| Notes | |
| Note 7 - Subsequent Events | NOTE SUBSEQUENT EVENTS In July 2017 we filed a Form S-1, a registration statement with the Security and Exchange Commission to sell 15,000,000 Class A common stock, and on August 15, 2017 we got effective from the SEC to sell those 15,000,000 registered shares. As of September 30, 2017 we have not sold any of such registered shares since we were waiting a few States approvals from the States we plan to sell them. We are currently selling those shares. As of the filing date of this report, we have sold 74,100 registered common stock and have deposited $ 11,115 in our bank. |
| Note 2 - Significant Accounting Policies: Note 2 - Significant Accounting Policies (Policies) | 12 Months Ended |
| Sep. 30, 2017 | |
| Policies | |
| Note 2 - Significant Accounting Policies | NOTE 2 SIGNIFICANT ACCOUNTING POLICIES a. Basis of Presentation The accompanying financial statements include the accounts of the Company for the year ending September 201 and September 201 . Management uses estimates and assumptions in preparing financial statements in accordance with accounting principles generally accepted in the United States of America. Those estimates and assumptions affect the reported amounts of assets, liabilities, expenses and the disclosure of contingent assets and liabilities. Actual results could vary from those estimates New Accounting Pronouncements The FASB has issued the following accounting pronouncements and guidance which may be applicable to the Company. Accounting Standards Update (ASU) No. 2014-09 Revenue Recognition (Topic 606): In May 2014, the FASB issued a new standard related to revenue recognition. Under the new standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has recently issued several amendments to the standard, including identifying performance obligations and other technical corrections and minor improvements affecting a variety of topics and required disclosures in the new standard. This standard will be effective and the Company will adopt this standard on January 1, 2018. Entities have the option to apply the new guidance under a full retrospective approach or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application. Accounting Standards Update (ASU) No. 2016-02 Leases (Topic 842). This update will require assets and liabilities to be recognized on the balance sheet of a lessee for the rights and obligations created by leases of assets with terms of more than 12 months. For income statement purposes, the update retained a dual model, requiring leases to be classified as either operating or finance based on largely similar criteria to those applied in current lease accounting, but without explicit bright lines. ASU 2016-02 also requires extensive quantitative and qualitative disclosures, including significant judgments made by management, to provide greater insight into the extent of revenue and expense recognized and expected to be recognized from existing leases. This standard will be effective for the Company on January 1, 2019. Early adoption is permitted. There are not expected to a have a material impact on the Company's financial position, results of operations or cash flows. b. Cash and Cash Equivalents Cash consists of cash balances on deposit. The Company believes no significant concentration of credit risk exists with respect to these cash balances. The Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. The Company had no cash equivalents at September 30, 201 or at September 30, 201 . c. Income taxes The Company accounts for income taxes in accordance with accounting guidanc e now codified as FASB ASC Topic 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all deferred tax assets will not be realized. We recognize interest and penalties related to unrecognized tax benefits in operating expenses. As of September 30, 201 and 201 , there were no unrecognized tax benefits nor interest or penalties accrued related to unrecognized tax benefits, nor were any interest and penalties recognized during the year ended September 30, 201 d. Basic and Diluted Net Loss Per Share The Company computes loss per share in accordance with ASC-260, Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of September 30, 201 and 201 , the Company had no potential dilutive shares outstanding. e. Stock Based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation Stock Compensation which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. The fair value of the equity instrument is charged directly to compensation expense and additional paid-in capital over the period during which services are rendered. There has been no stock-based compensation issued to employees. The Company follows ASC Topic 505-50, Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services, for stock options and warrants issued to consultants and other non-employees. In accordance with ASC Topic 505-50, these stock options and warrants issued as compensation for services provided to the Company are accounted for based upon the fair value of the services provided or the estimated fair market value of the option or warrant, whichever can be more clearly determined. T stock-based compensation expense, related to all of the Companys stock-based awards, recognized for the years ended September 30, 201 and 201 . f. Related Party Transactions We consider all who own more than 5% shares and equity method investments to be related parties and record any transactions between them and the Company to be related party transactions and disclose such transactions on notes to the Financial Statements. Under ASC 850, examples of related party transactions also include those between: - A parent entity and its subsidiaries - Subsidiaries of a common parent, an entity and trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management - An entity and its principal owners, management, or members of their immediate families and affiliates Transactions between related parties are considered to be related party transactions even though they may not be given accounting recognition. For example, an entity may receive services from a related party without charge and not record receipt of the services. While not providing accounting or measurement guidance for such transactions, this Topic requires their disclosure nonetheless. g. Fair Value Measurement The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. |
