Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2018 | Jun. 21, 2018 | Sep. 30, 2017 | |
Document And Entity Information | |||
Entity Registrant Name | PEPTIDE TECHNOLOGIES, INC. | ||
Entity Central Index Key | 1,357,878 | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 31, 2018 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --03-31 | ||
Is Entity a Well-known Seasoned Issuer? | No | ||
Is Entity a Voluntary Filer? | No | ||
Is Entity's Reporting Status Current? | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 127,112,660 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,017 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 1,728 | |
Total Current Assets | 1,728 | |
Website, net of accumulated amortization of $2,659 as of March 31, 2018 | 13,341 | |
Total Assets | 15,069 | |
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
Accounts payable | 37,870 | 37,230 |
Related-party advances | 67,113 | 13,263 |
Accrued compensation | 221,192 | 221,192 |
Other accrued liabilities | 10,000 | 10,000 |
Total Current Liabilities | 336,175 | 281,685 |
Stockholders' Deficit | ||
Common stock: $0.001 par value; 675,000,000 shares authorized; 127,112,660 and 156,062,660 issued and outstanding as of March 31, 2018 and March 31, 2017, respectively | 127,113 | 156,063 |
Additional paid-in capital | 731,963 | 692,763 |
Accumulated deficit | (1,180,182) | (1,130,511) |
Total Stockholders' Deficit | (321,106) | (281,685) |
Total Liabilities and Stockholders' Deficit | $ 15,069 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) | Mar. 31, 2018USD ($)$ / sharesshares |
Statement of Financial Position [Abstract] | |
Accumulated Amortization, Website | $ | $ 2,659 |
Common stock par value | $ / shares | $ 0.001 |
Common stock, shares authorized | 675,000,000 |
Common stock, shares issued | 127,112,660 |
Common stock, shares outstanding | 127,112,660 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating Expenses | ||
General and administrative, including stock-based compensation of $10,250 and $0 for the years ended March 31, 2018 and 2017, respectively | $ 49,451 | $ 2,573 |
Total Operating Expenses | 49,451 | 2,573 |
Operating Loss | (49,451) | (2,573) |
Other Expense | ||
Foreign currency loss | (220) | |
Net Loss | $ (49,671) | $ (2,573) |
Basic and Diluted Loss per Common Share | $ 0 | $ 0 |
Weighted Average Number of Common Shares Outstanding | 137,652,220 | 156,062,660 |
Statements of Operations (Paren
Statements of Operations (Parenthetical) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Statement [Abstract] | ||
Stock-based Compensation | $ 10,250 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (49,671) | $ (2,573) |
Adjustments to reconcile net loss to cash flows used in operating activities | ||
Depreciation | 2,659 | |
Stock-based compensation | 10,250 | |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 640 | |
Net cash flows used for operating activities | (36,122) | (2,573) |
Cash Flows From Investing Activities: | ||
Website development | (16,000) | |
Net cash used for investing activities | (16,000) | |
Cash Flows From Financing Activities: | ||
Related-party advances | 53,850 | 2,573 |
Net cash provided by financing activities | 53,850 | 2,573 |
Increase in cash and equivalents | 1,728 | |
Cash and cash equivalents, beginning of year | ||
Cash and cash equivalents, end of year | 1,728 | |
Supplemental Cash Flow Information: | ||
Income taxes | ||
Interest |
Statements of Stockholders' Def
Statements of Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Balance at Mar. 31, 2016 | $ 156,063 | $ 692,763 | $ (1,127,938) | $ (279,112) |
Balance (in Shares) at Mar. 31, 2016 | 156,062,660 | |||
Net Loss | (2,573) | (2,573) | ||
Balance at Mar. 31, 2017 | $ 156,063 | 692,763 | (1,130,511) | $ (281,685) |
Balance (in Shares) at Mar. 31, 2017 | 156,062,660 | 156,062,660 | ||
Rescission of common stock | $ (39,200,000) | 39,200 | ||
Rescission of common stock (in Shares) | (39,200) | 39,200,000 | ||
Stock-based compensation | $ 10,250 | $ 10,250 | ||
Stock-based compensation (in Shares) | 10,250,000 | |||
Net Loss | (49,671) | |||
Balance at Mar. 31, 2018 | $ 127,113 | $ 731,963 | $ (1,180,182) | $ (321,106) |
Balance (in Shares) at Mar. 31, 2018 | 127,112,660 | 127,112,660 |
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 Peptide Technologies, Inc., formerly Eternelle Skincare Products Inc. (the “Company” or “Peptide Technologies”), was incorporated in the State of Nevada, United States of America, on November 18, 2005. The Company’s business is to develop and market skincare products. Its plan is to build a state-of-the-art online store with a direct marketing and sales funnel aimed at targeted channels, using internet, social media, and content marketing. The Company’s marketing approach uses vetted channels that encompass several steps to gauge performance data from marketing tests against other campaigns in real-time with the ability to modify content delivery to targeted consumers immediately. The Company will engage a team with proprietary algorithmic software to assist in making these marketing decisions. Management believes this will provide the Company a distinct advantage over other companies that outsource marketing and advertising efforts to third parties. The skincare space is well-suited for direct-to-consumer sales, and there are several channels that the Company will leverage to introduce its unique branding and creative advertising assets. Creating brand visibility, along with the back-end support to process orders, is one of the Company’s key strengths over smaller competitors in the space. In addition, the Company will create a brand that allows visibility and awareness to be molded organically, thereby increasing the brand’s value quickly. The Company has identified a cosmetic and skincare manufacturer and has agreed upon product formulations, the design and sourcing of packaging, and product costs. The Company does not intend to enter into a long-term master supply agreement with the manufacturer. Rather, orders will be placed through individual purchase orders as needed. The Company’s activities are subject to significant risks and uncertainties, including the need for additional capital to carry out its plan of operation and competition from existing consumer product companies. The majority of manufacturing, distribution, marketing, and sales operations will be outsourced. However, strategic planning and development will be performed internally by the Company. This includes, but is not limited to, developing our catalog of products, developing proprietary skincare formulations, pricing our products, deciding which markets to target, deciding which influencers to engage in marketing campaigns, developing sales channels such as our e-commerce sites, determining which marketing initiatives to pursue, and selecting strategic partners and suppliers to advance our business plan. |
Going Concern
Going Concern | 12 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2 – GOING CONCERN These financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplate the continuation of the Company as a going concern. The Company has no revenues, has incurred losses from operations, has excess liabilities over assets of $321,106 and had an accumulated deficit of $1,180,182 as of March 31, 2018. The Company requires significant capital to commence operations. These factors raise doubt about the Company’s ability to continue as a going concern. Management’s plans are to actively seek capital to enable the Company to add new products and/or services to ultimately achieve profitability. However, management cannot provide assurance that they can raise sufficient capital and whether the Company will ultimately achieve profitability, become cash flow positive, or raise additional debt and/or equity capital. If the Company is unable to raise additional capital in the near future or meet financing requirements, management expects that the Company will need to curtail operations, seek additional capital on less favorable terms, and/or pursue other remedial measures. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company become unable to continue as a going concern. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates These financial statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could ultimately differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less. Revenue Recognition Revenue is recognized upon shipment or upon receipt of products by the customer, depending on the agreed-upon terms, provided that: there are no uncertainties regarding customer acceptance; persuasive evidence of an agreement exists documenting the specific terms of the transaction; the sales price is fixed or determinable; and collectability is reasonably assured. Management assesses the business environment, the customer’s financial condition, historical collection experience, accounts receivable aging, and customer disputes to determine whether collectability is reasonably assured. If collectability is not considered reasonably assured at the time of sale, the Company does not recognize revenue until collection occurs. Website Expenditures related to the planning and operation of the Company’s website are expensed as incurred. Expenditures related to the website application and infrastructure development are capitalized and amortized over the website’s estimated useful life of three (3) years. Amortization expense for the years ended March 31, 2018 and 2017 was $2,659 and $0, respectively. Impairment of Long-Lived Assets The long-lived assets held and used by the Company are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the event that facts and circumstances indicate that the carrying amount of any long-lived asset may be impaired, an evaluation of recoverability is performed. There were no impairment losses during the years ended March 31, 2018 and 2017. Share-Based Payments The Company recognizes the cost of employee share-based payment awards on a straight-line attribution basis over the requisite employee service period, net of estimated forfeitures. Determining the fair value of share-based awards at the measurement date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise and the associated volatility. Peptide Technologies estimates the fair value of options granted using the Black-Scholes valuation model. The expected life of the options used in this calculation is the period of time the options are expected to be outstanding. Expected stock price volatility is based on the historical volatility of Peptide Technologies’ stock for a period approximating the expected life, and the risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues approximating the expected life. Judgment is also required in estimating the amount of share-based awards that will be forfeited prior to vesting. The fair value of restricted stock awards is based on the par value of Peptide Technologies’ common stock on the date of grant. Income Taxes Certain income and expense items are accounted for differently for financial reporting and income tax purposes. Deferred income tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, applying enacted statutory income tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. Basic and Diluted Income (Loss) Per Share Basic income (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed similar to basic income (loss) per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings per share is not shown for periods in which the Company incurs a loss because it would be anti-dilutive. Fair Value of Financial Instruments Fair value is defined as the exchange 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 as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of inputs that may be used to measure fair value: · Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. · Level 2 - Includes other inputs that are directly or indirectly observable in the marketplace. · Level 3 - Unobservable inputs which are supported by little or no market activity. The Company’s financial instruments include accounts payable and accrued compensation. The carrying value of these instruments approximate their fair value because of their short-term nature. Foreign Currency Translation and Transactions The financial statements are presented in U.S. dollars. Foreign-denominated monetary assets and liabilities are translated to their U.S. dollar equivalents using foreign exchange rates at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity, whereas gains or losses resulting from foreign currency transactions are included in the results of operations. Recent Accounting Pronouncements The Financial Accounting Standards Board issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in the Accounting Standards Codification (“ASC”). There have been a number of ASUs to date that amend the original text of the ASC. The Company believes those updates issued-to-date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a significant impact on the Company. |
Accrued Compensation
Accrued Compensation | 12 Months Ended |
Mar. 31, 2018 | |
Payables and Accruals [Abstract] | |
Accrued Compensation | NOTE 4 – ACCRUED COMPENSATION Accrued compensation consists of the following: March 31, 2018 March 31, 2017 Salaries and benefits payable $ 212,000 $ 212,000 Payroll taxes payable 9,192 9,192 Total accrued compensation $ 221,192 $ 221,192 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Mar. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5 – RELATED PARTY TRANSACTIONS The Company’s Chief Financial Officer (“CFO”) advanced $53,850 and $2,573 to the Company during the years ended March 31, 2018 and 2017, respectively, to pay for operating expenses. The advances are due on demand and carry no interest. The related-party advances totaled $67,113 and $13,263 as of March 31, 2018 and 2017, respectively. |
Common Stock
Common Stock | 12 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Common Stock | NOTE 6 – COMMON STOCK The Company has authorized the issuance of 675,000,000 shares of common stock with a par value of $0.001 per share. 127,112,660 and 156,062,660 shares of common stock were issued and outstanding as of March 31, 2018 and 2017, respectively. The Company determined that the fair value of its common stock was equal to its par value during the years ended March 31, 2018 and 2017. During the year ended March 31, 2018, the Company’s Board of Directors approved the rescission of 39,200,000 shares of common stock. Prior to the Company’s change in business focus, these shares were issued, but not tendered, pending financial compensation to be received by the Company, agreements to be signed between the Company and certain consultants/shareholders, or specific performance by the consultants/shareholders. As these conditions were ultimately not met by these shareholders, the Board of Directors rescinded these shares. No value was ascribed to the shares cancelled, thus no gain was recorded. The Company’s Board of Directors and shareholders have agreed to indemnify the Company for any shareholder actions related to these share rescissions. In March 2018, the Company issued 5,000,000 shares of common stock with a fair value of $5,000 to Byron Striloff in connection with his appointment as President of the Company. The Company also issued 5,000,000 shares of common stock with a fair value of $5,000 to Bruce Sellars in connection with his appointment as a Director and Chief Executive Officer of the Company. Additionally, the Company issued 250,000 shares of common stock with a fair value of $250 to Irene Getty in connection with her appointment to the Board of Directors. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 7 – INCOME TAXES The 2017 Tax Act, which was signed into law on December 22, 2017, has resulted in significant changes to the U.S. corporate income tax system. These changes include a federal statutory rate reduction from 35% to 21%, the elimination or reduction of certain domestic deductions and credits and limitations on the deductibility of interest expense and executive compensation. The 2017 Tax Act also transitions international taxation from a worldwide system to a modified territorial system and includes base erosion prevention measures on non-U.S. earnings, which has the effect of subjecting certain earnings of our foreign subsidiaries to U.S. taxation as global intangible low taxed income (GILTI). These changes are effective beginning in 2018. Income tax expense differs from the amount that would result from applying the federal income tax rate to earnings before income taxes. Reconciliations of the U.S. federal statutory rate to the actual tax rate are as follows for the years ended March 31, 2018 and 2017: 2018 2017 Federal tax benefit at statutory rate 35.0 % 35.0 % Permanent differences: Stock compensation -7.2 % 0.0 % Temporary differences: Accounts payable and accrued liabilities -0.5 % 0.0 % Other -1.2 % 0.0 % Change in valuation allowance 294.3 % -35.0 % Change in effective tax rate -320.4 % 0.0 % Total provision 0.0 % 0.0 % The composition of the Company’s deferred tax assets as of March 31, 2018 and 2017 is as follows: Asset (Liability) 2018 2017 Current: Other $ 7,800 $ 13,000 Noncurrent: Net operating loss carryforwards 231,000 372,000 Valuation allowance (238,800 ) (385,000 ) Net deferred tax asset $ — $ — Due to the reduction in the federal statutory rate resulting from the Tax Act, current deferred tax assets decreased by $5,200, noncurrent deferred tax assets decreased by $154,000, and the valuation allowance decreased by $159,200. The Company had a net operating loss carryforward balance of $1,100,663 and $1,061,882 as of March 31, 2018 and 2017, respectively. The Company’s net operating losses have expiration dates ranging from 2025 to 2037. The Company’s recognized and unrecognized deferred tax assets related to unused tax losses. A full valuation allowance has been recorded against the potential deferred tax assets associated with all the loss carryforwards as their utilization is not considered “more likely than not” at this time. |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | NOTE 8 – COMMITMENTS AND CONTINGENCIES The Company is not currently involved with and does not have knowledge of any pending or threatened litigation against the Company or any of its officers. |
Significant Accounting Polici16
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation and Use of Estimates These financial statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could ultimately differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less. |
Revenue Recognition | Revenue Recognition Revenue is recognized upon shipment or upon receipt of products by the customer, depending on the agreed-upon terms, provided that: there are no uncertainties regarding customer acceptance; persuasive evidence of an agreement exists documenting the specific terms of the transaction; the sales price is fixed or determinable; and collectability is reasonably assured. Management assesses the business environment, the customer’s financial condition, historical collection experience, accounts receivable aging, and customer disputes to determine whether collectability is reasonably assured. If collectability is not considered reasonably assured at the time of sale, the Company does not recognize revenue until collection occurs. |
Website | Website Expenditures related to the planning and operation of the Company’s website are expensed as incurred. Expenditures related to the website application and infrastructure development are capitalized and amortized over the website’s estimated useful life of three (3) years. Amortization expense for the years ended March 31, 2018 and 2017 was $2,659 and $0, respectively. |
Share-Based Payments | Share-Based Payments The Company recognizes the cost of employee share-based payment awards on a straight-line attribution basis over the requisite employee service period, net of estimated forfeitures. Determining the fair value of share-based awards at the measurement date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise and the associated volatility. Peptide estimates the fair value of options granted using the Black-Scholes valuation model. The expected life of the options used in this calculation is the period of time the options are expected to be outstanding. Expected stock price volatility is based on the historical volatility of Peptide’s stock for a period approximating the expected life, and the risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues approximating the expected life. Judgment is also required in estimating the amount of share-based awards that will be forfeited prior to vesting. The fair value of restricted stock awards is based on the closing market price of Peptide’s common stock on the date of grant. |
Income Taxes | Income Taxes Certain income and expense items are accounted for differently for financial reporting and income tax purposes. Deferred income tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, applying enacted statutory income tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. |
Basic and Diluted Income (Loss) Per Share | Basic and Diluted Income (Loss) Per Share Basic income (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed similar to basic income (loss) per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings per share is not shown for periods in which the Company incurs a loss because it would be anti-dilutive. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value is defined as the exchange 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 as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of inputs that may be used to measure fair value: · Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. · Level 2 - Includes other inputs that are directly or indirectly observable in the marketplace. · Level 3 - Unobservable inputs which are supported by little or no market activity. The Company’s financial instruments include accounts payable and accrued liabilities. The carrying value of these instruments approximate their fair value because of their short-term nature and are classified as Level 2 within the fair value hierarchy. |
Foreign Currency Translation and Transactions | Foreign Currency Translation and Transactions The financial statements are presented in U.S. dollars. Foreign-denominated monetary assets and liabilities are translated to their U.S. dollar equivalents using foreign exchange rates at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity, whereas gains or losses resulting from foreign currency transactions are included in the results of operations. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Financial Accounting Standards Board issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in the Accounting Standards Codification (“ASC”). There have been a number of ASUs to date that amend the original text of the ASC. The Company believes those updates issued-to-date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a significant impact on the Company. |
Accrued Compensation (Tables)
Accrued Compensation (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable And Accrued Liabilities | March 31, 2018 March 31, 2017 Salaries and benefits payable $ 212,000 $ 212,000 Payroll taxes payable 9,192 9,192 Total accrued compensation $ 221,192 $ 221,192 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Reconciliation Of The Income Tax Provision | 2018 2017 Federal tax benefit at statutory rate 35.0 % 35.0 % Permanent differences: Stock compensation -7.2 % 0.0 % Temporary differences: Accounts payable and accrued liabilities -0.5 % 0.0 % Other -1.2 % 0.0 % Change in valuation allowance 294.3 % -35.0 % Change in effective tax rate -320.4 % 0.0 % Total provision 0.0 % 0.0 % |
Deferred Income Tax Assets And Liabilities | Asset (Liability) 2018 2017 Current: Other $ 7,800 $ 13,000 Noncurrent: Net operating loss carryforwards 231,000 372,000 Valuation allowance (238,800 ) (385,000 ) Net deferred tax asset $ — $ — |
Accrued Compensation (Detail) -
Accrued Compensation (Detail) - Schedule of Accounts Payable And Accrued Liabilities - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Payables and Accruals [Abstract] | ||
Salaries and benefits payable | $ 212,000 | $ 212,000 |
Payroll taxes payable | 9,192 | 9,192 |
Accrued compensation | $ 221,192 | $ 221,192 |
Income Taxes (Detail) - Reconci
Income Taxes (Detail) - Reconciliation Of The Income Tax Provision | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Federal tax benefit at statutory rate | 35.00% | 35.00% |
Permanent differences: | ||
Stock compensation | (7.20%) | 0.00% |
Temporary differences: | ||
Accounts payable and accrued liabilities | (0.50%) | 0.00% |
Other | (1.20%) | 0.00% |
Change in valuation allowance | 294.30% | (35.00%) |
Change in effective tax rate | (320.40%) | 0.00% |
Total provision | 0.00% | 0.00% |
Income Taxes (Detail) - Deferre
Income Taxes (Detail) - Deferred Income Tax Assets And Liabilities - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Current: | ||
Other | $ 7,800 | $ 13,000 |
Noncurrent: | ||
Net operating loss carryforwards | 231,000 | 372,000 |
Valuation allowance | (238,800) | (385,000) |
Net deferred tax asset |
Nature Of Operations (Details N
Nature Of Operations (Details Narrative) | 12 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Date of Incorporation | Nov. 18, 2005 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ 1,180,182 | $ 1,130,511 | |
Total Stockholders' Deficit | $ 321,106 | $ 281,685 | $ 279,112 |
Significant Accounting Polici24
Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accounting Policies [Abstract] | ||
Website Estimated Useful Life | 3 years | |
Website Expenses Amortization | $ 2,659 | $ 0 |
Impairment Losses |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Related party advances | $ 67,113 | $ 13,263 |
Chief Executive Officer [Member] | ||
Related party advances | $ 53,850 | $ 2,573 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | |
Common stock par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 675,000,000 | 675,000,000 | 675,000,000 |
Common stock, shares issued | 127,112,660 | 127,112,660 | 156,062,660 |
Common stock, shares outstanding | 127,112,660 | 127,112,660 | 156,062,660 |
Rescission of common stock (in Shares) | 39,200,000 | ||
President [Member] | |||
Stock Issued in Period | 5,000,000 | ||
Stock Issued in Period (Fair Value) | $ 5,000 | ||
Chief Executive Officer [Member] | |||
Stock Issued in Period | 5,000,000 | ||
Stock Issued in Period (Fair Value) | $ 5,000 | ||
Director [Member] | |||
Stock Issued in Period | 250,000 | ||
Stock Issued in Period (Fair Value) | $ 250 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Current Deferred Tax Assets (Decreased) | $ 5,200 | |
Non-current Deferred Tax Assets (Decreased) | 154,000 | |
Valuation Allowance (Decreased) | 159,200 | |
Net Operating Loss Carryforward | $ 1,100,663 | $ 1,061,882 |