Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Jul. 31, 2013 | Oct. 25, 2013 | Jan. 31, 2013 | |
Document And Entity Information | |||
Entity Registrant Name | Blink Couture Inc. | ||
Entity Central Index Key | 1378125 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Jul-13 | ||
Amendment Flag | FALSE | ||
Current Fiscal Year End Date | -24 | ||
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 | $808,667 | ||
Entity Common Stock, Shares Outstanding | 393,169 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2013 |
BALANCE_SHEETS
BALANCE SHEETS (USD $) | Jul. 31, 2013 | Jul. 31, 2012 |
Statement of Financial Position [Abstract] | ||
Total Assets | $0 | $0 |
Current Liabilities | ||
Accounts Payable | 1,810 | |
Accrued Interest - Related Parties | 60,538 | 37,154 |
Notes Due to Related Parties | 447,546 | 349,703 |
Total Current Liabilities & Total Liabilities | 509,894 | 386,857 |
Stockholders' Deficiency | ||
Preferred stock, ($.0001 par value, 20,000,000 shares authorized; none issued and outstanding) | ||
Common stock, ($.0001 par value, 100,000,000 shares authorized; 393,169 shares outstanding as of July 31, 2013 and July 31, 2012) | 39 | 39 |
Additional Paid-in Capital | 73,687 | 73,687 |
Deficit Accumulated during the Development Stage | -583,620 | -460,583 |
Total Stockholders' Deficiency | -509,894 | -386,857 |
Total Liabilities & Stockholders' Deficiency | $0 | $0 |
BALANCE_SHEETS_Parenthetical
BALANCE SHEETS (Parenthetical) (USD $) | Jul. 31, 2013 | Jul. 31, 2012 |
Stockholders Deficiency: | ||
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, authorized | 20,000,000 | 20,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, authorized | 100,000,000 | 100,000,000 |
Common stock, issued | 393,169 | 393,169 |
Common stock, outstanding | 393,169 | 393,169 |
STATEMENTS_OF_OPERATIONS
STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | 117 Months Ended | |
Jul. 31, 2013 | Jul. 31, 2012 | Jul. 31, 2013 | |
Income Statement [Abstract] | |||
Revenues | |||
Operating Expenses | |||
General and Administrative | 107,570 | 119,315 | 530,999 |
Other Expense (Income) | |||
Interest Expense-Related Parties | 23,384 | 16,841 | 60,538 |
Expense Reimbursement | -7,917 | 0 | -7,917 |
Total Other Expense (Income) | 15,467 | 16,841 | 52,621 |
Total Expenses | 123,037 | 136,156 | 583,620 |
Net Loss | ($123,037) | ($136,156) | ($583,620) |
Basic Loss per share | ($0.31) | ($0.35) | |
Weighted Average Shares | 393,169 | 393,169 |
STATEMENTS_OF_CASH_FLOWS
STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | 117 Months Ended | |
Jul. 31, 2013 | Jul. 31, 2012 | Jul. 31, 2013 | |
Operating Activities | |||
Net Loss | ($123,037) | ($136,156) | ($583,620) |
Adjustment to reconcile net loss to net cash used in operating activities | |||
Amortization | 741 | ||
Common Stock Issued for Services | 300 | ||
Change in Operating Assets and Liabilities: | |||
Change in Accounts Payable | 1,810 | -3,415 | 1,810 |
Change in Accrued Interest-Related Parties | 23,384 | 16,841 | 60,538 |
Net Cash Used by Operating Activities | -97,843 | -122,730 | -520,231 |
Investing Activities | |||
Purchase of Property & Equipment | -741 | ||
Net Cash Used in Investing Activities | -741 | ||
Financing Activities | |||
Proceeds from Notes Due to Related Parties | 97,843 | 122,730 | 447,546 |
Donated Capital | 23,636 | ||
Proceeds from isuance of common stock | 49,790 | ||
Net Cash provided by Financing Activities | 97,843 | 122,730 | 520,972 |
Net (decrease) increase in Cash | 0 | 0 | 0 |
Cash Beginning of Period | 0 | 0 | 0 |
Cash End of Period | $0 | $0 | $0 |
STATEMENT_OF_STOCKHOLDERS_EQUI
STATEMENT OF STOCKHOLDERS' EQUITY (USD $) | Common Stock | Additional Paid-In Capital | Deficit Accumulated During the Development Stage | Total |
Beginning Balance, Amount at Oct. 22, 2003 | $0 | $0 | $0 | $0 |
Beginning Balance, Shares at Oct. 22, 2003 | 0 | |||
October 25, 2003 - issue of common stock for services at $0.0001 per share, Amount | 5 | 235 | 240 | |
October 25, 2003 - issue of common stock for services at $0.0001 per share, Shares | 45,717 | |||
July 25, 2004 - issue of common stock for services at $0.0001 per share, Amount | 34 | 1,766 | 1,800 | |
July 25, 2004 - issue of common stock for services at $0.0001 per share, Shares | 342,876 | |||
Net loss | -3,075 | -3,075 | ||
Ending Balance, Amount at Jul. 31, 2004 | 39 | 2,001 | -3,075 | -1,035 |
Ending Balance, Shares at Jul. 31, 2004 | 388,593 | |||
Net loss | -2,665 | -2,665 | ||
Ending Balance, Amount at Jul. 31, 2005 | 39 | 2,001 | -5,740 | -3,700 |
Ending Balance, Shares at Jul. 31, 2005 | 388,593 | |||
June 23, 2006 - issue of common stock for cash at $0.20 per share, Amount | 26,800 | 26,800 | ||
June 23, 2006 - issue of common stock for cash at $0.20 per share, Shares | 2,552 | |||
July 26, 2006 - issue of common stock for cash at $0.20 per share, Amount | 14,200 | 14,200 | ||
July 26, 2006 - issue of common stock for cash at $0.20 per share, Shares | 1,352 | |||
July 26, 2006 - issue of common stock for services at $0.20 per share, Amount | 100 | 100 | ||
July 26, 2006 - issue of common stock for services at $0.20 per share, Shares | 10 | |||
Net loss | -6,201 | -6,201 | ||
Ending Balance, Amount at Jul. 31, 2006 | 39 | 43,101 | -11,941 | 31,199 |
Ending Balance, Shares at Jul. 31, 2006 | 392,507 | |||
August 23, 2006 - issue of common stock for cash at $0.20 per share, Amount | 6,250 | 6,250 | ||
August 23, 2006 - issue of common stock for cash at $0.20 per share, Shares | 595 | |||
August 23, 2006 - issue of common stock for services at $0.20 per share, Amount | 200 | 200 | ||
August 23, 2006 - issue of common stock for services at $0.20 per share, Shares | 19 | |||
September 01, 2006 - issue of common stock for cash at $0.20 per share, Amount | 400 | 400 | ||
September 01, 2006 - issue of common stock for cash at $0.20 per share, Shares | 38 | |||
September 01, 2006 - issue of common stock for services at $0.20 per share, Amount | 100 | 100 | ||
September 01, 2006 - issue of common stock for services at $0.20 per share, Shares | 10 | |||
Net loss | -42,764 | -42,764 | ||
Ending Balance, Amount at Jul. 31, 2007 | 39 | 50,051 | -54,705 | -4,615 |
Ending Balance, Shares at Jul. 31, 2007 | 393,169 | |||
Donated capital | 23,636 | 23,636 | ||
Net loss | -41,392 | -41,392 | ||
Ending Balance, Amount at Jul. 31, 2008 | 39 | 73,687 | -96,097 | -22,371 |
Ending Balance, Shares at Jul. 31, 2008 | 393,169 | |||
Net loss | -59,121 | -59,121 | ||
Ending Balance, Amount at Jul. 31, 2009 | 39 | 73,687 | -155,218 | -81,492 |
Ending Balance, Shares at Jul. 31, 2009 | 393,169 | |||
Net loss | -88,960 | -88,960 | ||
Ending Balance, Amount at Jul. 31, 2010 | 39 | 73,687 | -244,178 | -170,452 |
Ending Balance, Shares at Jul. 31, 2010 | 393,169 | |||
Net loss | -80,249 | -80,249 | ||
Ending Balance, Amount at Jul. 31, 2011 | 39 | 73,687 | -324,427 | -250,701 |
Ending Balance, Shares at Jul. 31, 2011 | 393,169 | |||
Net loss | -136,156 | -136,156 | ||
Ending Balance, Amount at Jul. 31, 2012 | 39 | 73,687 | -460,583 | -386,857 |
Ending Balance, Shares at Jul. 31, 2012 | 393,169 | |||
Net loss | -123,037 | -123,037 | ||
Ending Balance, Amount at Jul. 31, 2013 | $39 | $73,687 | ($583,620) | ($509,894) |
Ending Balance, Shares at Jul. 31, 2013 | 393,169 |
1_ORGANIZATION_AND_DESCRIPTION
1. ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended |
Jul. 31, 2013 | |
Accounting Policies [Abstract] | |
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | Business description |
Blink Couture, Inc. (the “Company”) was originally incorporated as Fashionfreakz International Inc. on October 23, 2003 under the laws of the State of Delaware. On December 2, 2005, Fashionfreakz International Inc. changed its name to Blink Couture Inc. Until March 4, 2008, the Company’s principal business was the online retail marketing of trendy clothing and accessories produced by independent designers. On March 4, 2008, the Company discontinued its prior business and changed its business plan. The Company’s business plan now consists of exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction. The Company has limited operations and in accordance with the Financial Accounting Standards Board ASC 915, the Company is considered a development stage company. |
2_SUMMARY_OF_SIGNIFICANT_ACCOU
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jul. 31, 2013 | |
Accounting Policies [Abstract] | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | A. CASH EQUIVALENTS |
Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of less than ninety days at the date of purchase. | |
The Company maintains cash balances at various financial institutions. Accounts at each institution are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company’s accounts at these institutions may, at times, exceed the federally insured limits. The Company has not experienced any losses in such accounts. | |
B. USE OF ESTIMATES | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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. | |
C. DEVELOPMENT STAGE | |
The Company continues to devote substantially all of its efforts to exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction. | |
D. BASIC EARNINGS PER SHARE | |
Pursuant to the authoritative guidance, basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. | |
E. INCOME TAXES | |
The Company uses the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. | |
ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented. | |
F. REVENUE RECOGNITION | |
The Company has not recognized any revenues from its operations. | |
G. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS | |
From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented. | |
H. FAIR VALUE MEASUREMENTS | |
The Company adopted provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. | |
ASC 820 defines fair value 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 on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: | |
Level 1 – quoted prices in active markets for identical assets or liabilities | |
Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable | |
Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumption) | |
The Company has no liabilities measured at fair value. |
3_GOING_CONCERN
3. GOING CONCERN | 12 Months Ended |
Jul. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 3 - GOING CONCERN | The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has no revenue since inception, generated net losses of $583,620 during the period from October 23, 2003 (inception) to July 31, 2013, has no assets and its current liabilities and total liabilities exceed its current assets and total assets by $509,894. These conditions, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
The Company is dependent on advances from its principal shareholders or other affiliated parties for continued funding. There are no commitments or guarantees from any third party to provide such funding nor is there any guarantee that the Company will be able to access the funding it requires to continue its operations. |
4_RELATED_PARTY_TRANSACTIONS
4. RELATED PARTY TRANSACTIONS | 12 Months Ended |
Jul. 31, 2013 | |
Related Party Transactions [Abstract] | |
NOTE 4 - RELATED PARTY TRANSACTIONS | On December 29, 2009, pursuant to that certain Stock Purchase Agreement (the “Purchase Agreement”) between Fountainhead Capital Management Limited (“Fountainhead”) and Regent Private Capital, LLC (“Regent”), Fountainhead sold an aggregate of 312,383 shares (the “Fountainhead Shares”) of common stock, par value $0.0001 of the Registrant (the “Common Stock”) to Regent in consideration for (i) Regent’s payment of $200,000 and (ii) Regent’s assignment to Fountainhead of all of Regent’s right, title and interest in a certain third party promissory note in the principal amount of $150,000. The Fountainhead Shares represent approximately 79.45% of the issued and outstanding shares of Common Stock of the Registrant. Additionally, and also included in the consideration paid by Regent, Fountainhead assigned to Regent all of Fountainhead’s right, title and interest in a certain promissory note of the Registrant having an outstanding principal balance of $90,453, along with accrued interest in the amount of $3,937. |
From time to time, until December 31, 2012, Regent advanced additional amounts to the Company under the terms of the note. Effective as of December 31, 2012, as a result of its dissolution and liquidation, Regent assigned all of its right, title and interest under such note, to its members, each of whom also were assigned 50% of the Fountainhead Shares. Additionally, from January 1, 2012 to July 31, 2013, Regent Private Capital II, LLC, a newly-formed company (“Regent II), which is affiliated with the Company, advanced additional amounts to the Company under the terms of a new note. As of July 31, 2013 the Company had loans and notes outstanding from two of its shareholders and Regent II, in the aggregate amount of $447,546, which represents amounts loaned to the Company to pay the Company’s expenses of operation. In addition, the Company has accrued related party interest of $60,538 and $37,154 as of July 31, 2013 and 2012 respectively. | |
Effective as of January 1, 2010, the Company entered into a Services Agreement with Regent Private Capital. LLC (“Regent”). The term of the Services Agreement was originally one year and the Company was obligated to pay Regent a quarterly fee in the amount of $10,000, in cash or in kind, on the first day of each calendar quarter commencing November 1, 2009. This agreement was extended and on December 31, 2012 was assigned to Regent Private Capital II, LLC (“Regent II”). During each of the fiscal years ended July 31, 2011, 2012 and 2013, the Company paid a total of $40,000 in fees to Regent and/or Regent II. |
5_INCOME_TAXES
5. INCOME TAXES | 12 Months Ended |
Jul. 31, 2013 | |
Income Tax Disclosure [Abstract] | |
NOTE 5 - INCOME TAXES | The Company recognizes deferred income tax liabilities and assets for the expected future tax consequences of events that have been recognized in the financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined 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 in which the differences are expected to reverse. The Company has not incurred any income tax liabilities since its inception due to operating losses of approximately $584,000. The expected income tax benefit for the net operating loss carryforwards is approximately $204,000. The difference between the expected income tax benefit and non-recognition of an income tax benefit in each period is the result of a valuation allowance applied to deferred tax assets. |
This results in a net deferred tax asset, assuming an effective tax rate of 35% or approximately $204,000 at July 31, 2013. A valuation allowance in the same amount has been provided to reduce the deferred tax asset. It is more likely than not that realization of the asset will not occur. |
6_TERMINATION_OF_MERGER
6. TERMINATION OF MERGER | 12 Months Ended |
Jul. 31, 2013 | |
Notes to Financial Statements | |
NOTE 6 - TERMINATION OF MERGER | On November 10, 2011, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which the Company planned to acquire Latitude Global, Inc. (“Latitude Global”), a company which, through its subsidiaries operates combined restaurant and entertainment facilities in various locations. |
On December 5, 2012, the Company executed and entered into a Termination and Release Agreement (the “Termination Agreement”) with Latitude Global for the purpose of mutually terminating the Merger Agreement, dated as of November 10, 2011 and all proposed transactions relating to the merger. As a condition to the termination of the Merger Agreement, Latitude Global has agreed to reimburse the Company $47,500 for its expenses in connection with the Merger Agreement, including legal fees. Latitude Global has agreed to pay this amount in six equal consecutive installments of $7,917 with the initial payment to be received on or around December 11, 2012. For the fiscal year ended July 31, 2013, the Company received a total of $7,917 under the terms of this agreement. The Company is recording payments as received and did not accrue the total obligation due to the potential non-collectability of this money. |
7_SUBSEQUENT_EVENTS
7. SUBSEQUENT EVENTS | 12 Months Ended |
Jul. 31, 2013 | |
Subsequent Events [Abstract] | |
NOTE 7 - SUBSEQUENT EVENTS | The Company has evaluated events occurring after the date of these financial statements through the date these financial statements were issued. The Company is currently contemplating the filing of a notice of default against Latitude Global regarding the obligated monthly payments due to the Company under the terms of the Termination Agreement mentioned above. There were no other material subsequent events as of that date other than what is mentioned. |
2_SUMMARY_OF_SIGNIFICANT_ACCOU1
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Jul. 31, 2013 | |
Accounting Policies [Abstract] | |
CASH EQUIVALENTS | Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of less than ninety days at the date of purchase. |
The Company maintains cash balances at various financial institutions. Accounts at each institution are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company’s accounts at these institutions may, at times, exceed the federally insured limits. The Company has not experienced any losses in such accounts. | |
USE OF ESTIMATES | The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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. |
DEVELOPMENT STAGE | The Company continues to devote substantially all of its efforts to exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction. |
BASIC EARNINGS PER SHARE | Pursuant to the authoritative guidance, basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. |
INCOME TAXES | The Company uses the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. |
ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented. | |
REVENUE RECOGNITION | The Company has not recognized any revenues from its operations. |
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS | From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented. |
FAIR VALUE MEASUREMENTS | The Company adopted provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. |
ASC 820 defines fair value 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 on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: | |
Level 1 – quoted prices in active markets for identical assets or liabilities | |
Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable | |
Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumption) | |
The Company has no liabilities measured at fair value. |
3_GOING_CONCERN_Details_Narrat
3. GOING CONCERN (Details Narrative) (USD $) | Jul. 31, 2013 |
Going Concern Details Narrative | |
Total liabilities exceeding current assets | $509,894 |
4_RELATED_PARTY_TRANSACTIONS_D
4. RELATED PARTY TRANSACTIONS (Details Narrative) (USD $) | Jul. 31, 2013 | Jul. 31, 2012 |
Related Party Transactions Details Narrative | ||
Accrued Related Party Interest | $60,538 | $37,154 |
5_INCOME_TAXES_Details_Narrati
5. INCOME TAXES (Details Narrative) (USD $) | 12 Months Ended |
Jul. 31, 2013 | |
Income Taxes Details Narrative | |
Operating loss | $584,000 |
Operating loss carryforward | $204,000 |
Effective tax rate | 35.00% |
6_TERMINATION_OF_MERGER_Detail
6. TERMINATION OF MERGER (Details Narrative) (USD $) | 3 Months Ended |
Jul. 31, 2013 | |
Notes to Financial Statements | |
Proceeds from termination of merger | $7,917 |