Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2018 | Jan. 22, 2019 | Sep. 30, 2017 | |
Document And Entity Information | |||
Entity Registrant Name | Fuquan Financial Co | ||
Entity Central Index Key | 819,690 | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 31, 2018 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --03-31 | ||
Entity a Well-known Seasoned Issuer | No | ||
Entity Voluntary Filer | No | ||
Entity Reporting Status Current | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | true | ||
Entity Public Float | $ 117,602 | ||
Entity Common Stock, Shares Outstanding | 2,900,164,114 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,018 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Current Assets | ||
Cash and Cash Equivalents | ||
Total Current Assets | ||
Total Assets | 0 | 0 |
Current Liabilities | ||
Former Shareholder Loan Payable | 324,033 | 297,277 |
Total Current Liabilities | 324,033 | 297,277 |
Total Liabilities | 324,033 | 297,277 |
Commitments and Contingencies (Note 9) | ||
Shareholders' Deficit | ||
Preferred Stock, $0.001 par value, 50,000,000 authorized none issued and outstanding | ||
Common Stock, $0.001 par value, 200,000,000 and 150,000,000 authorized, respectively, 122,164,114 and 122,164,114 issued and outstanding, respectively | 122,164 | 122,164 |
Additional Paid in Capital | 5,673,913 | 5,673,913 |
Retained Deficit | (6,120,110) | (6,093,354) |
Total Shareholders' Deficit | (324,033) | (297,277) |
Total Liabilities and Shareholders' Deficit | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Statement of Financial Position [Abstract] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | |||
Preferred stock, shares outstanding | |||
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares authorized | 200,000,000 | 150,000,000 | |
Common stock, shares issued | 122,164,114 | 122,164,114 | |
Common stock, shares outstanding | 122,164,114 | 122,164,114 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Statement [Abstract] | ||
REVENUE | ||
COST OF REVENUE | ||
GROSS PROFIT | ||
EXPENSES | ||
General and administrative | 26,756 | 56,200 |
Total Expenses | 26,756 | 56,200 |
OPERATING LOSS | (26,756) | (56,200) |
OTHER INCOME / (EXPENSE) | ||
LOSS BEFORE TAXES | (26,756) | (56,200) |
TAXES | ||
NET LOSS | $ (26,756) | $ (56,200) |
Net Loss per Common Share: Basic and Diluted | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding: Basic and Diluted | 122,164,114 | 122,164,114 |
Statements of Changes in Shareh
Statements of Changes in Shareholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Mar. 31, 2016 | $ 122,164 | $ 5,673,913 | $ (6,037,154) | $ (241,077) |
Balance, shares at Mar. 31, 2016 | 122,164,114 | |||
Loss for the year | (56,200) | (56,200) | ||
Balance at Mar. 31, 2017 | $ 122,164 | 5,673,913 | (6,093,354) | (297,277) |
Balance, shares at Mar. 31, 2017 | 122,164,114 | |||
Loss for the year | (26,756) | (26,756) | ||
Balance at Mar. 31, 2018 | $ 122,164 | $ 5,673,913 | $ (6,120,110) | $ (324,033) |
Balance, shares at Mar. 31, 2018 | 122,164,114 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows (Used In) Operating Activities: | ||
Net Loss | $ (26,756) | $ (56,200) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Changes in working capital items: | ||
Shareholder loan payable - advances | 26,756 | 56,200 |
Net Cash (Used In) Operating Activities | ||
Cash Flows From (Used In) Investing Activities: | ||
Cash Flows From Financing Activities: | ||
Net Change in Cash: | ||
Beginning Cash | ||
Ending Cash | ||
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for interest: | ||
Cash paid for tax: |
Nature of Operations
Nature of Operations | 12 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations | NOTE 1. NATURE OF OPERATIONS Nature of Business Fuquan Financial Company, a Nevada corporation, (“Fuquan”, “We” or “Us”) is a publicly quoted shell company seeking to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. No potential merger candidate has been identified at this time. Our mailing address is 23 Corporate Plaza, Suite 150, Newport Beach, California 92660. We currently have no operations. History Southwestern Water, formerly Star Acquisitions Corporation, was incorporated in the State of Colorado on July 10, 1987. On November 12, 1993, we changed our name to Southwestern Water Exploration Co. On February 27, 2018, a change in control of Southwestern Water Exploration Co. occurred in which the sole officer and board member resigned and new officers and board members were appointed. On March 15, 2018, the Company filed Articles of Amendment with the Colorado Secretary of State whereby it changed its name to “Fuquan Financial Company.” On March 29, 2018, the Company filed Articles of Conversion to change its domicile from Colorado to Nevada. On March 29, 2018, the Company filed an Issuer Company-Related Action Notification with FINRA requesting that the aforementioned name change be effective in the market and that the Company’s ticker symbol be changed to “FQFC.” |
Going Concern
Going Concern | 12 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2. GOING CONCERN Our financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. We have no ongoing business or income and for the twelve months ended March 31, 2018, we reported a net loss of $26,756 and an accumulated deficit of $6,120,110 as of March 31, 2018. These conditions raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties. Our ability to continue as a going concern is dependent upon our ability to raise additional debt or equity funding to meet our ongoing operating expenses and ultimately in merging with another entity with experienced management and profitable operations. No assurances can be given that we will be successful in achieving these objectives. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The summary of significant accounting policies is presented to assist in the understanding of the financial statements. These policies conform to accounting principles generally accepted in the United States of America and have been consistently applied. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) 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. Cash and Cash Equivalents As of March 31, 2018 and 2017, we did not maintain any cash or bank balances. Financial Instruments The estimated fair values for financial instruments were determined at discrete points in time based on relevant market information. These estimates involved uncertainties and could not be determined with precision. The carrying amounts of accounts payable, accrued liabilities and loans payable approximate fair value because of the short-term maturities of these instruments. The fair value of our shareholder loan payable approximates to its carrying value due to its short-term maturity. Fair Value Measurements: ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), provides a comprehensive framework for measuring fair value and expands disclosures which are required about fair value measurements. Specifically, ASC 820 sets forth a definition of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. ASC 820 defines the hierarchy as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on the New York Stock Exchange. Level 2 – Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reported date. The types of assets and liabilities in Level 2 are typically either comparable to actively traded securities or contracts, or priced with models using highly observable inputs. Level 3 – Significant inputs to pricing that are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair value of financial transmission rights. Our financial instruments consist of a single loan payable from one of our shareholders. The carrying values the loan payable - shareholder approximates its fair value due to its short maturity. Related Party Transactions: A related party is generally defined as (i) any person that holds 10% or more of our membership interests including such person’s immediate families, (ii) our management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with Aquarius, or (iv) anyone who can significantly influence the financial and operating decisions of Aquarius. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Fixed Assets: As of March 31, 2018 and 2017, we did not maintain any fixed assets. Impairment of Long-Lived and Intangible Assets: We had no long-lived or intangible assets as of March 31, 2018 or 2017. Deferred Costs and Other: Offering costs with respect to issue of debt or equity by us are initially deferred and ultimately offset against the proceeds from these debt or equity transactions if successful or expensed if the proposed debt or equity transaction is unsuccessful. Income Taxes: The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. We record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Uncertain Tax Positions: We evaluate tax positions in a two-step process. Wee first determines whether it is more likely than not that a tax position will be sustained upon examination, based on the technical merits of the position. If a tax position meets the more-likely-than-not recognition threshold it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We classify gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as long-term liabilities in the financial statements. Revenue Recognition: Revenue is recognized when obligations under the terms of a contract with a customer are satisfied, generally this occurs with the transfer of control of our product. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. During the twelve months ended March 31, 2018 and 2017, we did not recognize any revenue. Advertising Costs: No advertising costs were incurred during the twelve months ended March 31, 2018 and 2017. Stock Based Compensation: The cost of equity instruments issued to non-employees in return for goods and services is measured by the fair value of the goods or services received or the measurement date fair value of the equity instruments issued, whichever is the more readily determinable. Measurement date for non-employees is the earlier of performance commitment date or the completion of services. The cost of employee services received in exchange for equity instruments is based on the grant date fair value of the equity instruments issued. Net Loss per Share Calculation: Basic net loss per common share (“EPS”) is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of December 31, 2017, we stated that throughout the three and nine-month periods ended of September 30, 2017 and 2016, 200,000 stock options with an exercise price of $0.001 and that did not expire were issued and fully vested. That authorization has been rescinded and as of March 31, 2018, no stock options were issued. Subsequent Events: We have evaluated all transactions from April 1, 2018 through January 17, 2019 for subsequent event disclosure consideration. Recently Accounting Pronouncements: We have reviewed all the recently issued, but not yet effective, accounting pronouncements and do not believe any of these pronouncements will have a material impact on our financial statements. |
Former Shareholder Loan Payable
Former Shareholder Loan Payable | 12 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Former Shareholder Loan Payable | NOTE 4. FORMER SHAREHOLDER LOAN PAYABLE During the twelve months ended March 31, 2018 and 2017, we received $26,756 and $56,200, respectively, by way of loan from our principal shareholder, a former officer and director of ours, to fund our working capital requirements such as the compensation to the former officer and director, accounting, auditing, SEC filings, tax preparation, share transfer agent fees and certain legal fees. The loan is interest free, unsecured and due on demand. The balance due to our principal shareholder as of March 31, 2017 and March 31, 2018 was $297,277 and $324,033, respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 5. INCOME TAXES We did not provide any current or deferred US federal income tax provision or benefit for any of the periods presented in these financial statements because we have experienced losses since Inception. When it is more likely than not, that a tax asset cannot be realized through future income, we must record an allowance against any future potential future tax benefit. We have provided a full valuation allowance against the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward periods. The Company has not taken a tax position that, if challenged, would have a material effect on the financial statements for the twelve months ended March 31, 2018 and 2017 as defined under ASC 740, “Accounting for Income Taxes.” We did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of the accumulated deficit on the balance sheet. The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. The sources and tax effects of the differences for the periods presented are as follows: Twelve-month periods Ended March 31, 2018 2017 Statutory U.S. Federal Income Tax Rate 21 % 21 % State Income Taxes 4 % 4 % Change in Valuation Allowance (25 )% (25 )% Effective Income Tax Rate 0 % 0 % A reconciliation of the income taxes computed at the statutory rate is as follows: Twelve-month periods Ended March 31, 2018 2017 Tax at statutory rate (21%) $ 5,619 $ 11,802 Increase in valuation allowance $ (5,619 ) $ (11,802 ) Net deferred tax assets $ - $ - The Company underwent a change of control during the year ended March 31, 2018; accordingly, the utilization of this net operating loss will be limited in future periods. |
Commitments & Contingencies
Commitments & Contingencies | 12 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments & Contingencies | N OTE 6. COMMITMENTS & CONTINGENCIES Legal Proceedings We were not subject to any legal proceedings for the twelve months ended March 31, 2018 and 2017 and, to the best of our knowledge, no legal proceedings are pending or threatened. |
Shareholders' Deficit
Shareholders' Deficit | 12 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Shareholders' Deficit | NOTE 7. SHAREHOLDERS’ DEFICIT Preferred Stock As of December 31, 2017, we stated that we were authorized to issue 50,000,000 shares of preferred common stock with a par value of $0.001. That authorization has been rescinded and as of March 31, 2018, no shares of preferred stock were authorized to be issued. No shares of preferred stock were issued and outstanding during the twelve months ended March 31, 2018 and 2017. Common Stock As of March 31, 2018, we were authorized to issue 200,000,000 shares of common stock with a par value of $0.001. As of March 31, 2018, and March 31, 2017, 122,164,114 and 122,164,114 shares of common stock were issued and outstanding, respectively. No shares of common stock were issued during the twelve months ended March 31, 2018 and 2017. Warrants No warrants were issued or outstanding during the twelve months ended March 31, 2018 and 2017. Stock Options The Corporation has an incentive stock option plan, which provides for the granting by the Board of Directors of stock options to directors and officers for the purchase of authorized but unissued common shares. As of December 31, 2017, we stated that throughout the three and nine-month periods ended of September 30, 2017 and 2016, 200,000 stock options with an exercise price of $0.001 and that did not expire were issued and fully vested. That authorization has been rescinded and as of March 31, 2018, no stock options were issued. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 8. SUBSEQUENT EVENTS On or around April 20, 2018, the Company issued 2,778,000,000 shares of its common stock to Houyu Huang as compensation for services rendered as president and director of the Company. The issuance was exempt under Section 4(a)(2) of the Securities Act. On or around April 23, 2018 the Company increased its number of authorized shares of common stock to three billion shares, $0.001 par value. In or around April 2018 the Company entered into a Convertible Loan Agreement with its majority shareholder, Houyu Huang (the “ Loan Agreement Note Through January 22, 2019 the Company has borrowed a total of $259,358.00 under the Loan Agreement. The entire amount was paid to Fuquan Investment Management (USA) Company (“ FIM USA In or around June 2018 the Company entered into a Management Services Agreement (the “ MSA On around September 26, 2018 the Company filed with the State of Nevada to effect a reverse stock split. The reverse stock split has not yet been implemented and effected. When implemented and effected, one (1) share of common stock will be issued for every four (4) shares of common stock issued and outstanding. The number of authorized shares of common stock will be reduced by the same 1:4 ratio, resulting in 750,000,000 shares of common stock being authorized. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The summary of significant accounting policies is presented to assist in the understanding of the financial statements. These policies conform to accounting principles generally accepted in the United States of America and have been consistently applied. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) 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. |
Cash and Cash Equivalents | Cash and Cash Equivalents As of March 31, 2018 and 2017, we did not maintain any cash or bank balances. |
Financial Instruments | Financial Instruments The estimated fair values for financial instruments were determined at discrete points in time based on relevant market information. These estimates involved uncertainties and could not be determined with precision. The carrying amounts of accounts payable, accrued liabilities and loans payable approximate fair value because of the short-term maturities of these instruments. The fair value of our shareholder loan payable approximates to its carrying value due to its short-term maturity. |
Fair Value Measurements | Fair Value Measurements: ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), provides a comprehensive framework for measuring fair value and expands disclosures which are required about fair value measurements. Specifically, ASC 820 sets forth a definition of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. ASC 820 defines the hierarchy as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on the New York Stock Exchange. Level 2 – Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reported date. The types of assets and liabilities in Level 2 are typically either comparable to actively traded securities or contracts, or priced with models using highly observable inputs. Level 3 – Significant inputs to pricing that are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair value of financial transmission rights. Our financial instruments consist of a single loan payable from one of our shareholders. The carrying values the loan payable - shareholder approximates its fair value due to its short maturity. |
Related Party Transactions | Related Party Transactions: A related party is generally defined as (i) any person that holds 10% or more of our membership interests including such person’s immediate families, (ii) our management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with Aquarius, or (iv) anyone who can significantly influence the financial and operating decisions of Aquarius. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. |
Fixed Assets | Fixed Assets: As of March 31, 2018 and 2017, we did not maintain any fixed assets. |
Impairment of Long-Lived and Intangible Assets | Impairment of Long-Lived and Intangible Assets: We had no long-lived or intangible assets as of March 31, 2018 or 2017. |
Deferred Costs and Other | Deferred Costs and Other: Offering costs with respect to issue of debt or equity by us are initially deferred and ultimately offset against the proceeds from these debt or equity transactions if successful or expensed if the proposed debt or equity transaction is unsuccessful. |
Income Taxes | Income Taxes: The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. We record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. |
Uncertain Tax Positions | Uncertain Tax Positions: We evaluate tax positions in a two-step process. Wee first determines whether it is more likely than not that a tax position will be sustained upon examination, based on the technical merits of the position. If a tax position meets the more-likely-than-not recognition threshold it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We classify gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as long-term liabilities in the financial statements. |
Revenue Recognition | Revenue Recognition: Revenue is recognized when obligations under the terms of a contract with a customer are satisfied, generally this occurs with the transfer of control of our product. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. During the twelve months ended March 31, 2018 and 2017, we did not recognize any revenue. |
Advertising Costs | Advertising Costs: No advertising costs were incurred during the twelve months ended March 31, 2018 and 2017. |
Stock Based Compensation | Stock Based Compensation: The cost of equity instruments issued to non-employees in return for goods and services is measured by the fair value of the goods or services received or the measurement date fair value of the equity instruments issued, whichever is the more readily determinable. Measurement date for non-employees is the earlier of performance commitment date or the completion of services. The cost of employee services received in exchange for equity instruments is based on the grant date fair value of the equity instruments issued. |
Net Loss Per Share Calculation | Net Loss per Share Calculation: Basic net loss per common share (“EPS”) is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of December 31, 2017, we stated that throughout the three and nine-month periods ended of September 30, 2017 and 2016, 200,000 stock options with an exercise price of $0.001 and that did not expire were issued and fully vested. That authorization has been rescinded and as of March 31, 2018, no stock options were issued. |
Subsequent Events | Subsequent Events: We have evaluated all transactions from April 1, 2018 through January 17, 2019 for subsequent event disclosure consideration. |
Recently Accounting Pronouncements | Recently Accounting Pronouncements: We have reviewed all the recently issued, but not yet effective, accounting pronouncements and do not believe any of these pronouncements will have a material impact on our financial statements. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Sources and Tax Effects of Differences for Periods Presented | The sources and tax effects of the differences for the periods presented are as follows: Twelve-month periods Ended March 31, 2018 2017 Statutory U.S. Federal Income Tax Rate 21 % 21 % State Income Taxes 4 % 4 % Change in Valuation Allowance (25 )% (25 )% Effective Income Tax Rate 0 % 0 % |
Schedule of Reconciliation of Income Taxes Computed at Statutory Rate | A reconciliation of the income taxes computed at the statutory rate is as follows: Twelve-month periods Ended March 31, 2018 2017 Tax at statutory rate (21%) $ 5,619 $ 11,802 Increase in valuation allowance $ (5,619 ) $ (11,802 ) Net deferred tax assets $ - $ - |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net loss | $ (26,756) | $ (56,200) |
Accumulated deficit | $ (6,120,110) | $ (6,093,354) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Mar. 31, 2016 | |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | ||||
Membership interest percentage | 10.00% | |||
Intangible assets | ||||
Uncertain tax positions percentage | 50.00% | |||
Revenues | ||||
Advertising costs | ||||
Number of stock option shares issued | 200,000 | |||
Stock options, exercise price | $ 0.001 |
Former Shareholder Loan Payab_2
Former Shareholder Loan Payable (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Debt Disclosure [Abstract] | ||
Proceeds from shareholders | $ 26,756 | $ 56,200 |
Due to related parties | $ 324,033 | $ 297,277 |
Income Taxes - Schedule of Sour
Income Taxes - Schedule of Sources and Tax Effects of Differences for Periods Presented (Details) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Statutory U.S. Federal Income Tax Rate | 21.00% | 21.00% |
State Income Taxes | 4.00% | 4.00% |
Change in Valuation Allowance | (25.00%) | (25.00%) |
Effective Income Tax Rate | 0.00% | 0.00% |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation of Income Taxes Computed at Statutory Rate (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Tax at statutory rate (3%) | $ 5,619 | $ 11,802 |
Increase in valuation allowance | (5,619) | (11,802) |
Net deferred tax assets |
Income Taxes - Schedule of Re_2
Income Taxes - Schedule of Reconciliation of Income Taxes Computed at Statutory Rate (Details) (Parenthetical) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Tax at statutory rate | 21.00% | 21.00% |
Shareholders' Deficit (Details
Shareholders' Deficit (Details Narrative) - $ / shares | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Equity [Abstract] | |||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares issued | |||
Preferred stock, shares outstanding | |||
Common stock, shares authorized | 200,000,000 | 150,000,000 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares issued | 122,164,114 | 122,164,114 | |
Common stock, shares outstanding | 122,164,114 | 122,164,114 | |
Number of common shares issued | |||
Number of warrants issued | |||
Number of warrants outstanding | |||
Number of stock option shares issued | 200,000 | ||
Stock options, exercise price | $ 0.001 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | Sep. 26, 2018 | Apr. 30, 2018 | Apr. 20, 2018 | Jan. 22, 2019 | Apr. 23, 2018 | Mar. 31, 2018 | Mar. 31, 2017 |
Common stock, shares authorized | 200,000,000 | 150,000,000 | |||||
Common stock, par value | $ 0.001 | $ 0.001 | |||||
Subsequent Event [Member] | |||||||
Common stock, shares authorized | 750,000,000 | 3,000,000,000 | |||||
Common stock, par value | $ 0.001 | ||||||
Reverse stock split description | The reverse stock split has not yet been implemented and effected. When implemented and effected, one (1) share of common stock will be issued for every four (4) shares of common stock issued and outstanding. The number of authorized shares of common stock will be reduced by the same 1:4 ratio. | ||||||
Subsequent Event [Member] | Loan Agreement [Member] | |||||||
Debt face amount | $ 259,358 | ||||||
Debt interest rate percentage | 10.00% | ||||||
Debt maturity term | 24 months | ||||||
Debt discount percentage | 20.00% | ||||||
Subsequent Event [Member] | Maximum [Member] | Loan Agreement [Member] | |||||||
Debt face amount | $ 500,000 | ||||||
Subsequent Event [Member] | Houyu Huang [Member] | |||||||
Number of common stock issued, shares | 2,778,000,000 |