| NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Basis
of Presentation The
accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting
principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation
S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.
In the opinion of management, all adjustments (all of which are of a normal recurring nature) considered necessary for a fair
presentation have been included. Operating results for the three months ended February 28, 2018 are not indicative of the results
that may be expected for the year ending November 30, 2018 or for any other future period. These unaudited financial statements
and the unaudited condensed notes thereto should be read in conjunction with the audited financial statements and notes thereto
included in Amendment No. 3 to the Companys registration statement on Form 10/A for the year ended October 31, 2017, filed
with the Securities and Exchange Commission (the SEC) on April 12, 2018. Use
of Estimates The
preparation of abbreviated 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 abbreviated financial statements and reported amounts of revenues
and expenses during the reporting period. Actual results could differ from those estimates. If actual results significantly differ
from the Companys estimates, the Companys financial condition and results of operations could be materially impacted.
Significant estimates include the bad debt allowance of accounts receivable and deferred tax asset allowance. Cash
and Cash Equivalents For
purposes of net assets contributed presentation, the Company considers all unrestricted demand deposits, money market funds and
highly liquid debt instruments with an original maturity of less than 90 days to be cash and cash equivalents. There were no cash
equivalents as of February 28, 2018 and November 30, 2017. Accounts
Receivable The
Company regularly reviews outstanding receivables and provides for estimated losses through an allowance for doubtful accounts.
In evaluating the level of established loss reserves, the Company makes judgments regarding its customers ability to make
required payments, economic events, and other factors. As the financial condition of these parties change, and circumstances develop
or additional information becomes available, adjustments to the allowance for doubtful accounts may be required. The Company maintains
reserves for potential credit losses, and such losses traditionally have been within its expectations. The Company has determined
the allowance for doubtful accounts to be $173 at February 28, 2018 and November 30, 2017. Property
and Equipment All
expenditures on the acquisition for property and equipment are recorded at cost and capitalized as incurred, provided the asset
benefits the Company for a period of more than one year. Expenditures on routine repairs and maintenance of property and equipment
are charged directly to operating expense. The property and equipment are depreciated based upon its estimated useful life after
being placed in service. The estimated useful life of computer equipment is 3 years. When equipment is retired, sold or impaired,
the resulting gain or loss is reflected in earnings. The Company incurred depreciation expense of $0 and $5,904 for the three
months ended February 28, 2018 and 2017, respectively. Impairment
of Long-Lived Assets In
accordance with Accounting Standards Codification 360-10, Property, Plant, and Equipment, the Company periodically
reviews its long- lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of
the assets may not be fully recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future
cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the assets
estimated fair value and its book value. The Company did not impair any long-lived assets as of February 28, 2018 and November
30, 2017. Website
Development Costs The
Company accounts for website development costs in accordance with Accounting Standards Codification 350-50 Website Development
Costs. Accordingly, all costs incurred in the planning stage are expensed as incurred, costs incurred in the website application
and infrastructure development stage that meet specific criteria are capitalized and costs incurred in the day to day operation
of the website are expensed as incurred. Fair
Value of Financial Instruments The
Company adopted ASC topic 820, Fair Value Measurements and Disclosures (ASC 820), formerly SFAS No. 157 Fair
Value Measurements, effective January 1, 2009. ASC 820 defines fair value as the price that would be received
for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability
in an orderly transaction between market participants on the measurement date. There was no impact relating to the adoption of
ASC 820 to the Companys abbreviated financial statements. ASC
820 also describes three levels of inputs that may be used to measure fair value: Level
1: Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities traded in active markets. Level
2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or
indirectly. Level
3: Inputs that are generally unobservable. These inputs may be used with internally developed methodologies that result in managements
best estimate of fair value. Financial
instruments consist principally of cash, accounts receivable, prepaid expenses, due from affiliates, accounts payable, accrued
liabilities and other current liabilities. The carrying amounts of such financial instruments in the accompanying balance sheets
approximate their fair values due to their relatively short- term nature. The fair value of long-term debt is based on current
rates at which the Company could borrow funds with similar remaining maturities. The carrying amounts approximate fair value.
It is managements opinion that the Company is not exposed to any significant currency or credit risks arising from these
financial instruments. Revenue
Recognition The
Company recognizes revenue when all of the following criteria are met: (1) persuasive evidence of an arrangement exits; (2) delivery
has occurred or services have been rendered; (3) the Companys price to its customer is fixed or determinable and (4) collectability
is reasonably assured. The
Company provides its marketing and promotional services to agents or brokers via a web-based portal that allows for credit card
payments. Customers may pay a monthly recurring fee or an annual fee. Some customers additionally pay a one-time set up fee. Monthly
recurring fees are recognized in the month the service is rendered. Collection of one-time set up fees and annual services fees
give rise to recognized monthly revenue in the current month. Cost
of Revenues Cost
of revenues includes costs attributable to services sold and delivered. These costs include engineering costs incurred to maintain
our networks. Advertising
Expense Advertising
costs are charged to expense as incurred and are included in selling and promotions expense in the accompanying financial statements.
Advertising expense for the three months ended February 28, 2018 and 2017 was $169 and $2,035, respectively. Share-Based
Compensation The
Company computes share based payments in accordance with Accounting Standards Codification 718-10 Compensation (ASC
718-10). ASC 718-10 establishes standards for the accounting for transactions in which an entity exchanges its equity instruments
for goods and services at fair value, focusing primarily on accounting for transactions in which an entity obtains employees services
in share-based payment transactions. It also addresses transactions in which an entity incurs liabilities in exchange for goods
and services that are based on the fair value of an entitys equity instruments or that may be settled by the issuance of
those equity instruments. In March 2005, the SEC issued SAB No. 107, Share-Based Payment (SAB 107) which provides
guidance regarding the interaction of ASC 718-10 and certain SEC rules and regulations. The Company has applied the provisions
of SAB 107 in its adoption of ASC 718-10. The Company accounts for non-employee share-based awards in accordance with ASC Topic
505-50, Equity Based Payments to Non-Employees. The Company estimates the fair value of stock options by using the Black-Scholes
option pricing model. Income
Taxes The
Company accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes, as clarified by ASC 740-10, Accounting
for Uncertainty in Income Taxes. Under this method, deferred income taxes are determined based on the estimated future tax effects
of differences between the financial statement and tax basis of assets and liabilities and net operating loss and tax credit carryforwards
given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities
from year to year. In providing for deferred taxes, the Company considers tax regulations of the jurisdictions in which the Company
operates, estimates of future taxable income, and available tax planning strategies. If tax regulations, operating results or
the ability to implement tax-planning strategies vary, adjustments to the carrying value of deferred tax assets and liabilities
may be required. Valuation allowances are recorded related to deferred tax assets based on the more likely than not
criteria of ASC 740. ASC
740-10 requires that the Company recognize the financial statement benefit of a tax position only after determining that the relevant
tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not
threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood
of being realized upon ultimate settlement with the relevant tax authority. The company has applied for an extension of time to
file with the Internal Revenue Service. The
Company recognizes expenses for tax penalties and interest assessed by the Internal Revenue Service and other taxing authorities
upon receiving valid notice of assessments. The Company has received no such notices as of February 28, 2018. Marketable
securities In
January 2018, as part of the Monaker lawsuit settlement, the company received $32,370 of their common shares, which we have classified
as available for sale securities. Pursuant to SFAS No. 115, Accounting for Certain Investments in Debt and
Equity Securities, our marketable securities are marked to market on a quarterly basis, with unrealized gains and losses
being reflected as a component of other income. Earnings
Per Share Basic
earnings per share is computed by dividing net income attributable to common stockholders by the weighted average number of shares
of common stock outstanding during the period. Diluted
earnings per share is computed by dividing net income attributable to common stockholders by the weighted average number of shares
of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. Diluted loss per
common share is considered to be equal to basic because the common stock equivalents are anti-dilutive. Concentrations,
Risks and Uncertainties The
Companys operations are related to the real estate industry and its prospects for success are tied indirectly to interest
rates and the general housing and business climates in the United States. Recently
Issued Accounting Pronouncements In
May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU affects any entity that
either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial
assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). This
ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance
throughout the Industry Topics of the codification. Additionally, this ASU supersedes some cost guidance included in Subtopic
605-35, Revenue Recognition-Construction-Type and Production-Type Contracts. The guidances core principle is that an entity
should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration
to which the entity expects to be entitled in exchange for those goods or services. In applying the revenue principles, an entity
will identify the performance obligations, determine the transaction price, allocate the transaction price to the performance
obligations and recognize revenue when the performance obligation is satisfied. The ASU further states that an entity should disclose
sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue
and cash flows arising from contracts with customers. The amendments in this ASU are effective for annual reporting periods (including
interim reporting periods within those periods) beginning after January 15, 2017, for public companies. Early adoption is not
permitted. The Company is still evaluating the provisions of ASU 2014-09 and its impact on the Companys financial position,
results of operations or cash flows. In
August 2014, the FASB issued ASU 2014-15, Disclosures of Uncertainties About an Entitys Ability to Continue as a Going
Concern. The new standard provides guidance around managements responsibility to evaluate whether there is substantial
doubt about an entitys ability to continue as a going concern and to provide related footnote disclosures. The new standard
is effective for fiscal years, and interim periods within those fiscal years, ending after December 15, 2016. The Company has
adopted this standard effective for the year ending November 30, 2017. There was no impact on the Companys financial statements. In
February 2016, the FASB issued ASU 2016-02, Leases (ASU 2016-02). The standard amends the existing accounting standards
for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes
to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of fiscal 2020. Early adoption of ASU 2016-02
is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered
into after, the date of initial application, with an option to use certain transition relief. In September, the FASB issued ASU
2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic
842) which amends certain aspects of the new lease standard. The Company is currently evaluating the impact of adopting ASU 2016-02
on the Companys financial statements. In
November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new standard changes the
presentation of restricted cash and cash equivalents on the statement of cash flows. Restricted cash and restricted cash equivalents
will be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown
on the statement of cash flows. The new standard is effective for fiscal years, and interim periods within those fiscal years,
beginning after December 15, 2017. Early adoption is permitted. This ASU is not expected to have a material impact on the Companys
financial statements. In
January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.
The amendments in this Update clarify the definition of a business with the objective of adding guidance to assist entities with
evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. The amendments in this Update
provide a screen to determine when a set is not a business. If the screen is not met, it (1) requires that to be considered a
business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability
to create output and (2) removes the evaluation of whether a market participant could replace the missing elements. This Update
is the final version of Proposed ASU 2015-330 Business Combinations (Topic 805) Clarifying The Definition of a Business,
which has been deleted. The amendments in this Update are effective for all entities for annual periods, and interim periods within
those annual periods, beginning after December 15, 2017. Early adoption is permitted. This ASU is not expected to have a material
impact on the Companys financial statements. In
May 2017, the FASB issued ASU 2017-09, CompensationStock Compensation (Topic 718): Scope of Modification Accounting
to provide clarity and reduce both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718,
CompensationStock Compensation, to a change to the terms or conditions of a share-based payment award. The amendments in
this Update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to
apply modification accounting in Topic 718. This Update is the final version of Proposed ASU 2016-360CompensationStock
Compensation (Topic 718)Scope of Modification Accounting, which has been deleted. The amendments in this Update are effective
for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early
adoption is permitted. This ASU is not expected to have a material impact on the Companys financial statements. Management
does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material
impact on the accompanying abbreviated financial statements. |
