Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Sep. 30, 2015 | |
Document and Entity Information: | ||
Entity Registrant Name | Seguin Natural Hair Products Inc. | |
Document Type | 10-K | |
Document Period End Date | Mar. 31, 2016 | |
Trading Symbol | none | |
Amendment Flag | false | |
Entity Central Index Key | 1,642,363 | |
Current Fiscal Year End Date | --03-31 | |
Entity Common Stock, Shares Outstanding | 16,500,000 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | FY | |
Entity Incorporation, Date of Incorporation | Apr. 29, 2014 | |
Entity Incorporation, State Country Name | Nevada | |
Entity Public Float | $ 0 |
Seguin Natural Hair Products, I
Seguin Natural Hair Products, Inc. Balance Sheets - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
CURRENT ASSETS: | ||
Cash | $ 21,781 | $ 44,710 |
Prepaid Expenses | 2,379 | |
Total Current Assets | 24,160 | 44,710 |
Total Assets | 24,160 | 44,710 |
CURRENT LIABILITIES: | ||
Advances from stockholders | 236 | 80 |
Total Current Liabilities | 236 | 80 |
Total Liabilities | 236 | 80 |
COMMITMENTS AND CONTINGENCIES | 0 | 0 |
STOCKHOLDERS' EQUITY: | ||
Common stock par value $0.0001: 500,000,000 shares authorized; 16,500,000 shares issued and outstanding | 1,650 | 1,650 |
Additional paid-in capital | 63,332 | 44,550 |
Accumulated deficit | (41,058) | (1,570) |
Total Stockholders' Equity | 23,924 | 44,630 |
Total Liabilities and Stockholders' Equity | $ 24,160 | $ 44,710 |
Statement of Financial Position
Statement of Financial Position - Parenthetical - $ / shares | Mar. 31, 2016 | Mar. 31, 2015 |
Statement of financial position | ||
Common Stock, Par Value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares Issued | 16,500,000 | 16,500,000 |
Common Stock, Shares Outstanding | 16,500,000 | 16,500,000 |
Seguin Natural Hair Products, 4
Seguin Natural Hair Products, Inc. Statements of Operation - USD ($) | 11 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Mar. 31, 2016 | |
Income statement | ||
Revenue | $ 0 | $ 0 |
Operating Expenses | ||
Salary and wages - officers | 1,200 | |
Professional fees | 36,997 | |
General and administrative expenses | 370 | 2,491 |
Total operating expenses | 1,570 | 39,488 |
Loss from Operations | (1,570) | (39,488) |
Income Tax Provision | 0 | 0 |
Net Loss | $ (1,570) | $ (39,488) |
Net Loss per Common Share - Basic and Diluted | $ 0 | $ 0 |
Weighted average common shares outstanding: - basic and diluted | 14,541,330 | 16,500,000 |
Seguin Natural Hair Products, 5
Seguin Natural Hair Products, Inc. Statement of Stockholders' Equity For the Period from April 29, 2014 (Inception) Ended March 31, 2016 - USD ($) | Number of Shares | CommonStockValue1Member | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance, beginning of period at Apr. 28, 2014 | $ 0 | $ 0 | $ 0 | $ 0 | |
Shares outstanding at Apr. 28, 2014 | 0 | ||||
Common stock issued as compensation at par on April 29, 2014, value | 1,200 | 1,200 | |||
Common stock issued as compensation at par on April 29, 2014, stock | 12,000,000 | ||||
Common stock issued for cash at $0.01 per share from August 2014 through March 2015, value | 450 | 44,550 | 45,000 | ||
Common stock issued for cash at $0.01 per share from August 2014 through March 2015, stock | 4,500,000 | ||||
Net loss | (1,570) | (1,570) | |||
Balance, end of period at Mar. 31, 2015 | 1,650 | 44,550 | (1,570) | 44,630 | |
Shares outstanding at Mar. 31, 2015 | 16,500,000 | ||||
Capital Contribution | 18,782 | 18,782 | |||
Net loss | (39,488) | (39,488) | |||
Balance, end of period at Mar. 31, 2016 | $ 1,650 | $ 63,332 | $ (41,058) | $ 23,924 | |
Shares outstanding at Mar. 31, 2016 | 16,500,000 |
Seguin Natural Hair Products, 6
Seguin Natural Hair Products, Inc. Statements of Cash Flows - USD ($) | 11 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (1,570) | $ (39,488) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Common stock issued as compensation | 1,200 | |
Changes in operating assets and liabilities: | ||
Prepaid Expenses | (2,379) | |
Net cash used in operating activities | (370) | (41,867) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Advances from (repayment to) stockholders | 80 | 156 |
Proceeds from sale of common stock | 45,000 | |
Capital contribution | 18,782 | |
Net cash provided by financing activities | 45,080 | 18,938 |
Net change in cash | 44,710 | (22,929) |
Cash at beginning of the reporting period | 44,710 | |
Cash at end of the reporting period | 44,710 | 21,781 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: | ||
Interest paid | 0 | 0 |
Income tax paid | $ 0 | $ 0 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 12 Months Ended |
Mar. 31, 2016 | |
Notes | |
Note 1 - Organization and Operations | Note 1 - Organization and Operations Seguin Natural Hair Products Inc. Seguin Natural Hair Products Inc. (the Company) was incorporated on April 29, 2014 under the laws of the State of Nevada. Initial operations have included organization and incorporation, target market identification, marketing plans, capital formation and property acquisitions. A substantial portion of the Companys activities has involved developing a business plan and establishing contacts and visibility in the marketplace. The Company has generated no revenues since inception. The Company intends to proceed in the business of developing, marketing, and selling shampoo, conditioner and other hair care products made from all natural ingredients. |
Note 2 - Significant and Critic
Note 2 - Significant and Critical Accounting Policies and Practices | 12 Months Ended |
Mar. 31, 2016 | |
Notes | |
Note 2 - Significant and Critical Accounting Policies and Practices | Note 2 - Significant and Critical Accounting Policies and Practices The Management of the Company is responsible for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Companys financial condition and results and require managements most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Companys significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles. Basis of Presentation The Companys financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Fiscal Year End The Company elected March 31 st Use of E stimates and Assumptions and Critical Accounting Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s). Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Companys critical accounting estimates and assumptions affecting the financial statements were: (i) Assumption as a going concern : ; (ii) Valuation allowance for deferred tax assets : These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (Paragraph 820-10-35-37) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Companys financial assets and liabilities, such as cash and accrued expenses approximate their fair value because of the short maturity of this instrument. Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated. Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include a. affiliates of the Company (Affiliate means, with respect to any specified Person, any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act); b. entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 8251015, to be accounted for by the equity method by the investing entity; c. trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d. principal owners of the Company; e. management of the Company; f. other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. Commitment and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Companys financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Revenue Recognition The Company follows paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. Deferred Tax Assets and Income T ax Provision The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. 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 statements of operations in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (Section 740-10-25). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In managements opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. Tax years that remain subject to examination by major tax jurisdictions The Company discloses tax years that remain subject to examination by major tax jurisdictions pursuant to the ASC Paragraph 740-10-50-15. Earnings per Share Earnings per share ("EPS") is the amount of earnings attributable to each share of common stock. For convenience, the term is used to refer to either earnings or loss per share. EPS is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Pursuant to ASC Paragraphs 260-10-45-10 through 260-10-45-16 Basic EPS shall be computed by dividing income available to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Income available to common stockholders shall be computed by deducting both the dividends declared in the period on preferred stock (whether or not paid) and the dividends accumulated for the period on cumulative preferred stock (whether or not earned) from income from continuing operations (if that amount appears in the income statement) and also from net income. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued during the period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangement, stock options or warrants. Pursuant to ASC Paragraphs 260-10-45-45-21 through 260-10-45-45-23 Diluted EPS shall be based on the most advantageous conversion rate or exercise price from the standpoint of the security holder. The dilutive effect of outstanding call options and warrants (and their equivalents) issued by the reporting entity shall be reflected in diluted EPS by application of the treasury stock method unless the provisions of paragraphs 260-10-45-35 through 45-36 and 260-10-55-8 through 55-11 require that another method be applied. Equivalents of options and warrants include non-vested stock granted to employees, stock purchase contracts, and partially paid stock subscriptions (see paragraph 260105523). Anti-dilutive contracts, such as purchased put options and purchased call options, shall be excluded from diluted EPS. Under the treasury stock method: a. Exercise of options and warrants shall be assumed at the beginning of the period (or at time of issuance, if later) and common shares shall be assumed to be issued. b. The proceeds from exercise shall be assumed to be used to purchase common stock at the average market price during the period. (See paragraphs 260-10-45-29 and 260-10-55-4 through 55-5.) c. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) shall be included in the denominator of the diluted EPS computation. There were no potentially dilutive common shares outstanding for the reporting period ended March 31, 2016. Cash Flows Reporting The Company adopted paragraph 230-10-45-24 of the FASB Accounting Standards Codification for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (Indirect method) as defined by paragraph 230-10-45-25 of the FASB Accounting Standards Codification to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. Subsequent Events The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying consolidated financial statements. |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Mar. 31, 2016 | |
Notes | |
Note 3 - Going Concern | Note 3 Going Concern The Company has elected to adopt early application of Accounting Standards Update No. 2014-15, Presentation of Financial StatementsGoing Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entitys Ability to Continue as a Going Concern (ASU 2014-15) The Companys financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company had an accumulated deficit at March 31, 2016, a net loss and net cash used in operating activities for the reporting period then ended. These factors raise substantial doubt about the Companys ability to continue as a going concern. The Company is attempting to commence operations and generate sufficient revenue; however, the Companys cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Note 4 - Stockholders' Equity (
Note 4 - Stockholders' Equity (deficit) | 12 Months Ended |
Mar. 31, 2016 | |
Notes | |
Note 4 - Stockholders' Equity (deficit) | Note 4 Stockholders Equity (Deficit) Shares Authorized Upon formation the total number of shares of all classes of stock which the Company is authorized to issue Five Hundred Million (500,000,000) shares of Common Stock, par value $0.0001 per share. Common Stock On April 29, 2014, upon formation, the Company issued an aggregate of 12,000,000 shares of the newly formed corporations common stock to its Chief Executive Officer at the par value of $0.0001 per share or $1,200 for compensation. For the period from August 4, 2014 through March 31, 2015, the Company sold 4,500,000 shares of common stock at $0.01 per share to 45 individuals, or $45,000. |
Note 5 - Related Party Transact
Note 5 - Related Party Transactions | 12 Months Ended |
Mar. 31, 2016 | |
Notes | |
Note 5 - Related Party Transactions | Note 5 Related Party Transactions Free Office Space The Company has been provided office space by its Chief Executive Officer at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statement. Shareholder Advances During the year ended March 31, 2015, a significant stockholder of the Company advanced $80 to the Company, which was recorded as non-interest bearing advances from shareholders, payable on demand. During the year ended March 31, 2016, a significant stockholder of the Company advanced $156 to the Company, which was recorded as non-interest bearing advances from shareholders, payable on demand. The balance owed as of March 31, 2016 and 2015 was $236 and $80, respectively. |
Note 7 - Subsequent Events
Note 7 - Subsequent Events | 12 Months Ended |
Mar. 31, 2016 | |
Notes | |
Note 7 - Subsequent Events | Note 7 Subsequent Events The Company has evaluated all events that occur after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. The Management of the Company determined that there were no reportable subsequent event(s) to be disclosed. |
Note 2 - Significant and Crit13
Note 2 - Significant and Critical Accounting Policies and Practices: Basis of Presentation (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Basis of Presentation | Basis of Presentation The Companys financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). |
Note 2 - Significant and Crit14
Note 2 - Significant and Critical Accounting Policies and Practices: Fiscal Year End (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Fiscal Year End | Fiscal Year End The Company elected March 31 st |
Note 2 - Significant and Crit15
Note 2 - Significant and Critical Accounting Policies and Practices: Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions | Use of E stimates and Assumptions and Critical Accounting Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s). Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Companys critical accounting estimates and assumptions affecting the financial statements were: (i) Assumption as a going concern : ; (ii) Valuation allowance for deferred tax assets : These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. |
Note 2 - Significant and Crit16
Note 2 - Significant and Critical Accounting Policies and Practices: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (Paragraph 820-10-35-37) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Companys financial assets and liabilities, such as cash and accrued expenses approximate their fair value because of the short maturity of this instrument. Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated. |
Note 2 - Significant and Crit17
Note 2 - Significant and Critical Accounting Policies and Practices: Cash and Cash Equivalents, Policy (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Cash and Cash Equivalents, Policy | Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. |
Note 2 - Significant and Crit18
Note 2 - Significant and Critical Accounting Policies and Practices: Related Parties (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Related Parties | Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include a. affiliates of the Company (Affiliate means, with respect to any specified Person, any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act); b. entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 8251015, to be accounted for by the equity method by the investing entity; c. trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d. principal owners of the Company; e. management of the Company; f. other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. |
Note 2 - Significant and Crit19
Note 2 - Significant and Critical Accounting Policies and Practices: Commitment and Contingencies (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Commitment and Contingencies | Commitment and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Companys financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. |
Note 2 - Significant and Crit20
Note 2 - Significant and Critical Accounting Policies and Practices: Revenue Recognition, Policy (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Revenue Recognition, Policy | Revenue Recognition The Company follows paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. |
Note 2 - Significant and Crit21
Note 2 - Significant and Critical Accounting Policies and Practices: Income Tax, Policy (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Income Tax, Policy | Deferred Tax Assets and Income T ax Provision The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. 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 statements of operations in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (Section 740-10-25). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In managements opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. |
Note 2 - Significant and Crit22
Note 2 - Significant and Critical Accounting Policies and Practices: Tax Years That Remain Subject To Examination by Major Tax Jurisdictions (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Tax Years That Remain Subject To Examination by Major Tax Jurisdictions | Tax years that remain subject to examination by major tax jurisdictions The Company discloses tax years that remain subject to examination by major tax jurisdictions pursuant to the ASC Paragraph 740-10-50-15. |
Note 2 - Significant and Crit23
Note 2 - Significant and Critical Accounting Policies and Practices: Earnings Per Share (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Earnings Per Share | Earnings per Share Earnings per share ("EPS") is the amount of earnings attributable to each share of common stock. For convenience, the term is used to refer to either earnings or loss per share. EPS is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Pursuant to ASC Paragraphs 260-10-45-10 through 260-10-45-16 Basic EPS shall be computed by dividing income available to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Income available to common stockholders shall be computed by deducting both the dividends declared in the period on preferred stock (whether or not paid) and the dividends accumulated for the period on cumulative preferred stock (whether or not earned) from income from continuing operations (if that amount appears in the income statement) and also from net income. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued during the period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangement, stock options or warrants. Pursuant to ASC Paragraphs 260-10-45-45-21 through 260-10-45-45-23 Diluted EPS shall be based on the most advantageous conversion rate or exercise price from the standpoint of the security holder. The dilutive effect of outstanding call options and warrants (and their equivalents) issued by the reporting entity shall be reflected in diluted EPS by application of the treasury stock method unless the provisions of paragraphs 260-10-45-35 through 45-36 and 260-10-55-8 through 55-11 require that another method be applied. Equivalents of options and warrants include non-vested stock granted to employees, stock purchase contracts, and partially paid stock subscriptions (see paragraph 260105523). Anti-dilutive contracts, such as purchased put options and purchased call options, shall be excluded from diluted EPS. Under the treasury stock method: a. Exercise of options and warrants shall be assumed at the beginning of the period (or at time of issuance, if later) and common shares shall be assumed to be issued. b. The proceeds from exercise shall be assumed to be used to purchase common stock at the average market price during the period. (See paragraphs 260-10-45-29 and 260-10-55-4 through 55-5.) c. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) shall be included in the denominator of the diluted EPS computation. There were no potentially dilutive common shares outstanding for the reporting period ended March 31, 2016. |
Note 2 - Significant and Crit24
Note 2 - Significant and Critical Accounting Policies and Practices: Cash Flows Reporting (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Cash Flows Reporting | Cash Flows Reporting The Company adopted paragraph 230-10-45-24 of the FASB Accounting Standards Codification for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (Indirect method) as defined by paragraph 230-10-45-25 of the FASB Accounting Standards Codification to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. |
Note 2 - Significant and Crit25
Note 2 - Significant and Critical Accounting Policies and Practices: Subsequent Events (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
Subsequent Events | Subsequent Events The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. |
Note 2 - Significant and Crit26
Note 2 - Significant and Critical Accounting Policies and Practices: New Accounting Pronouncements, Policy (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Policies | |
New Accounting Pronouncements, Policy | Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying consolidated financial statements. |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | March 31, 2016 March 31, 2015 Net deferred tax assets non-current: Expected income tax benefit from NOL carry-forwards $ 13,960 $ 534 Less valuation allowance (13,960) (534) Deferred tax assets, net of valuation allowance $ 0 $ 0 |
Schedule of Effective Income Ta
Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | For the Year ended March 31, 2016 For the Year ended March 31, 2015 Federal statutory income tax rate 34.0 % 34.0 % Change in valuation allowance on net operating loss carry-forwards (34.0) (34.0) Effective income tax rate 0.0 % 0 % |
Note 1 - Organization and Ope29
Note 1 - Organization and Operations (Details) | 12 Months Ended |
Mar. 31, 2016 | |
Details | |
Entity Incorporation, Date of Incorporation | Apr. 29, 2014 |
Entity Incorporation, State Country Name | Nevada |
Note 4 - Stockholders' Equity30
Note 4 - Stockholders' Equity (deficit) (Details) - USD ($) | 8 Months Ended | 11 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2016 | |
Details | ||||
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | 500,000,000 | |
Common Stock, Par Value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Common stock issued as compensation at par on April 29, 2014, stock | 12,000,000 | |||
Shares Issued, Price Per Share | $ 0.0001 | |||
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | $ 1,200 | $ 1,200 | ||
Stock Issued During Period, Shares, New Issues | 4,500,000 | |||
Sale of Stock, Price Per Share | $ 0.01 | $ 0.01 | ||
Stock Issued During Period, Value, New Issues | $ 45,000 |
Note 5 - Related Party Transa31
Note 5 - Related Party Transactions (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Details | ||
Increase Decrease in Advances from Stockholders | $ 156 | $ 80 |
Increase Decrease in Advances from Stockholders | 156 | 80 |
Advances from stockholders | $ 236 | $ 80 |
Items (Details)
Items (Details) - USD ($) | 11 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Mar. 31, 2016 | |
Details | ||
Operating Loss Carryforwards | $ 41,058 | |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | $ 534 | 13,960 |
Valuation Allowances and Reserves, Period Increase (Decrease) | $ 534 | $ 13,426 |
Schedule of Deferred Tax Asse33
Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | 11 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Mar. 31, 2016 | |
Details | ||
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | $ 534 | $ 13,960 |
Deferred Tax Assets, Valuation Allowance | (534) | (13,960) |
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | $ 0 |
Schedule of Effective Income 34
Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | 11 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Mar. 31, 2016 | |
Details | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ (34) | $ (34) |
Income Tax Provision | $ 0 | $ 0 |