Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Jan. 31, 2015 | Apr. 01, 2015 | Jul. 31, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | MULTI SOFT II, INC | ||
Entity Central Index Key | 766404 | ||
Current Fiscal Year End Date | -30 | ||
Entity Filer Category | Smaller Reporting Company | ||
Document Type | 10-K | ||
Document Period End Date | 31-Jan-15 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Common Stock, Shares Outstanding | 1,233,853 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $0 |
Balance_Sheets
Balance Sheets (USD $) | Jan. 31, 2015 | Jan. 31, 2014 |
Current Assets: | ||
Cash | $25,870 | $8,986 |
Total assets | 25,870 | 8,986 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 54,000 | 45,999 |
Total current liabilities | 54,000 | 45,999 |
Due to shareholder | 313,358 | 221,895 |
Total liabilities | 367,358 | 267,894 |
Shareholders' Deficiency | ||
Preferred stock, 50,000,000 shares authorized, $0.001 par value; no shares issued or outstanding | 0 | 0 |
Common stock, 200,000,000 shares authorized; $0.001 par value; 1,233,853 shares issued and outstanding | 1,233 | 1,233 |
Additional paid-in capital | 81,323 | 81,323 |
Accumulated deficit | -424,044 | -341,464 |
Total shareholders' deficiency | -341,488 | -258,908 |
Total liabilities and shareholders' deficiency | $25,870 | $8,986 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Jan. 31, 2015 | Jan. 31, 2014 |
Shareholders' Deficiency | ||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, par value (in usd per share) | $0.00 | $0.00 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, par value (in usd per share) | $0.00 | $0.00 |
Common stock, shares issued | 1,233,853 | 1,233,853 |
Common stock, shares outstanding | 1,233,853 | 1,233,853 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | |
Jan. 31, 2015 | Jan. 31, 2014 | |
Income Statement [Abstract] | ||
REVENUE | $0 | $0 |
OPERATING EXPENSES: | ||
General and administrative expenses | 56,117 | 66,879 |
Total operating expenses | 56,117 | 66,879 |
LOSS FROM OPERATIONS | -56,117 | -66,879 |
OTHER EXPENSE | ||
Interest expense | -26,463 | -18,271 |
Total other expense | -26,463 | -18,271 |
LOSS BEFORE TAXES | -82,580 | -85,150 |
Income tax provision | 0 | 0 |
NET LOSS | ($82,580) | ($85,150) |
BASIC AND DILUTED LOSS PER SHARE | ($0.07) | ($0.07) |
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 1,233,853 | 1,233,853 |
Statement_of_Shareholders_Defi
Statement of Shareholders' Deficiency (USD $) | 12 Months Ended | ||
Jan. 31, 2015 | Jan. 31, 2014 | Jan. 31, 2013 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Shareholders' deficiency, Beginning balance | ($258,908) | ($173,758) | |
Common stock, shares outstanding, Beginning balance | 1,233,853 | ||
Net loss | -82,580 | -85,150 | |
Common stock, shares outstanding, Ending balance | 1,233,853 | 1,233,853 | |
Shareholders' deficiency, Ending balance | -341,488 | -258,908 | |
Common Stock | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Shareholders' deficiency, Beginning balance | 1,233 | ||
Common stock, shares outstanding, Beginning balance | 1,233,853 | ||
Common stock, shares outstanding, Ending balance | 1,233,853 | 1,233,853 | 1,233,853 |
Shareholders' deficiency, Ending balance | 1,233 | 1,233 | 1,233 |
Additional Paid-in Capital | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Shareholders' deficiency, Beginning balance | 81,323 | ||
Shareholders' deficiency, Ending balance | 81,323 | 81,323 | 81,323 |
Accumulated Deficit | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Shareholders' deficiency, Beginning balance | -341,464 | -256,314 | |
Net loss | -82,580 | -85,150 | |
Shareholders' deficiency, Ending balance | ($424,044) | ($341,464) |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | |
Jan. 31, 2015 | Jan. 31, 2014 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net loss | ($82,580) | ($85,150) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Increase in accounts payable and accrued expenses | 34,464 | 23,919 |
Net cash used in operating activities | -48,116 | -61,231 |
CASH FLOW FROM FINANCING ACTIVITIES: | ||
Proceeds from debt issuance | 65,000 | 65,000 |
Net cash provided by financing activities | 65,000 | 65,000 |
NET INCREASE IN CASH | 16,884 | 3,769 |
CASH AT BEGINNING OF YEAR | 8,986 | 5,217 |
CASH AT END OF YEAR | 25,870 | 8,986 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $0 | $0 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies and Organization | 12 Months Ended |
Jan. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies and Organization | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION |
(A) Organization and Basis of Presentation | |
Multi Soft, Inc., (the "Company"), was originally incorporated on January 29, 1985 in New Jersey. On September 21, 2011, Multi Soft (Florida), Inc., a Florida corporation, was formed for the purpose of merging with the Company, so as to effect a re-domicile of the Company from New Jersey to Florida. In connection with the Merger (as defined below) and in accordance with the terms of the Agreement and Plan of Merger executed by both companies, the shareholders of the New Jersey corporation received .02 shares of new (Florida) common stock for every one share of old (New Jersey) common stock they owned, and all outstanding shares of the New Jersey corporation's common stock were canceled. Pursuant to the Merger, the Florida corporation became the surviving entity. On June 1, 2011, the Company filed an Amended and Restated Certificate of Incorporation with the State of New Jersey to increase its authorized common stock from 30,000,000 to 200,000,000 shares, and to create a class of 50,000,000 shares of blank check preferred stock, $0.001 par value. The Florida corporation is authorized to issue 200,000,000 shares of $0.001 par value common stock and 50,000,000 shares of $0.001 par value preferred stock. The Company and the Florida corporation each signed and filed Articles of Merger with their respective states to effectuate the merger of the New Jersey corporation with and into the Florida corporation (the "Merger"), which Merger became effective on September 29, 2011. Pursuant to the Merger, the Florida corporation became the surviving entity. Effective on October 4, 2011, the Company changed its name to Multi Soft II, Inc. | |
The Company's business purpose is to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's business objective for the next 12 months and beyond will be to achieve long-term growth potential through a combination with a business, rather than immediate, short-term earnings. The Company's search for a business opportunity will not be limited to any particular geographical area or industry, including both domestic and international companies. | |
The Company does not have any revenues from operations and, absent a merger or other combination with an operating company, or a public or private sale of the Company's equity or debt securities, the occurrence of either of which cannot be assured, the Company will be dependent upon future loans or equity investments from the Company's present shareholders or management, for which there is no existing commitment except as disclosed in Note 2. Although the Company has no present commitment from any such parties to provide funding, except as disclosed in Note 2, if the Company reaches the point where the Company needs funds to remain in operation, the Company will attempt to raise funds from the Company's present shareholders or management in the form of equity or debt. If, in such situation, the Company is unable to raise funds from those parties, it is likely that the Company's business would cease operations. | |
In order to minimize potential conflicts of interest which may arise because the Company's directors and officers also serve as the directors and officers of Multi Solutions II, Inc., each of the Company's officers and directors have entered into an agreement with the Company and Multi Solutions II, Inc. whereby all parties have each agreed that the Company will not analyze or consider any possible business combination opportunities until Multi Solutions II, Inc. has agreed to consummate a business combination. | |
(B) Financial Instruments | |
The carrying amounts of cash, accounts payable and accrued expenses approximate their fair values due to their short term nature and that they are receivable or payable upon demand. However, considerable judgment is involved in making fair value determinations and current estimates of fair value may differ significantly from amounts presented herein. | |
(C) Use of Estimates | |
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. | |
(D) Cash and Cash Equivalents | |
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |
(E) Loss Per Share | |
Basic loss per share is calculated based on income available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted earnings per share is calculated based on income available to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period. | |
(F) Income Taxes | |
Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. | |
The Company accounts for income taxes under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, “Accounting for Income Taxes. It prescribes a recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the Company has applied a more-likely-than-not recognition threshold for all tax uncertainties. The guidance only allows the recognition of those tax benefits that have a greater than 50% likelihood of being sustained upon examination by the various taxing authorities. The Company is subject to taxation in the United States. | |
The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized by applying statutory tax rates in effect in the years in which the differences between the financial reporting and tax filing bases of existing assets and liabilities are expected to reverse. The Company has considered future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance against the deferred tax assets. The Company has recorded a full valuation allowance against the deferred tax assets since the Company has determined that it is more likely than not that the Company may not be able to realize the deferred tax asset in the future. | |
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In assessing the realizability of deferred tax assets, Management evaluates whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on Management's evaluation, the net deferred tax asset was offset by a full valuation allowance in all periods presented. The Company's deferred tax asset valuation allowance will be reversed if and when the Company generates sufficient taxable income in the future to utilize the tax benefits of the related deferred tax assets. | |
The Company classifies penalties and interest related to income taxes as income tax expense in the Statements of Operations. | |
(G) Recently Issued Accounting Standards | |
In June 2014, the Financial Accounting Standards Board issued amendments to the accounting guidance for development stage entities (Accounting Standards Update No. 2014-10), which amends the presentation and disclosure requirements for development stage entities. The Company has adopted the guidance effective as of January 31, 2015. For the period ended January 31, 2015, the Company adopted Accounting Standards Update No. 2014-10 which amends the presentation and disclosure requirements for development stage entities. Therefore, for the period ending January 31, 2015 the results of Development Stage operations were removed from the Company's financial statements. | |
In August 2014, the FASB issued ASU 2014-15, “ Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The amendments in ASU 2014-15 are effective for annual reporting periods ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company will adopt the methodologies prescribed by ASU 2014-15 by the date required, and does not anticipate that the adoption of ASU 2014-15 will have a material effect on its financial position or results of operations. | |
Aside from the above mentioned accounting standards, the Company has evaluated all of the recently issued accounting standards and has determined that they have no impact on the Company's financial statements. |
Due_To_Shareholder
Due To Shareholder | 12 Months Ended |
Jan. 31, 2015 | |
Related Party Transactions [Abstract] | |
Due To Shareholder | DUE TO SHAREHOLDER |
In April 2012, the Company executed a credit facility agreement with its majority shareholder providing for the repayment of all costs in excess of $17,500 paid by the majority shareholder on behalf of the Company. The credit facility provides up to $350,000, as amended on December 15, 2014, of financing to the Company for working capital purposes. Amounts outstanding under the credit facility accrue interest at an annual rate of 11% and mature in December 2017. Principal and interest outstanding under the credit facility totaled $313,358 and $221,895, including accrued interest of $53,201 and $26,738, as of January 31, 2015 and January 31, 2014, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||
Jan. 31, 2015 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Income Taxes | INCOME TAXES | |||||||
The provision for income taxes consists of the following: | ||||||||
Year ended January 31, | ||||||||
2015 | 2014 | |||||||
Current | ||||||||
Federal | $ | — | $ | — | ||||
State | — | — | ||||||
Deferred | ||||||||
Federal | (26,673 | ) | (27,503 | ) | ||||
State | (4,129 | ) | (4,258 | ) | ||||
Change in valuation allowance | 30,802 | 31,761 | ||||||
$ | — | $ | — | |||||
The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before the provision for income taxes. The sources and tax effects of the difference are as follows: | ||||||||
Year ended January 31, | ||||||||
2015 | 2014 | |||||||
Income tax at statutory rate | 34 | % | 34 | % | ||||
State income taxes, net of federal benefit | 3.3 | 3.3 | ||||||
Change in valuation allowance | (37.30 | ) | (37.30 | ) | ||||
Total | 0 | % | 0 | % | ||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and tax liabilities are as follows: | ||||||||
January 31, | ||||||||
2015 | 2014 | |||||||
Net operating loss | $ | 156,303 | $ | 125,501 | ||||
Gross deferred tax assets: | 156,303 | 125,501 | ||||||
Less: valuation allowance | (156,303 | ) | (125,501 | ) | ||||
Net deferred tax asset | $ | — | $ | — | ||||
As of January 31, 2015, the Company had net operating loss carryforwards of approximately $424,000 which may be used to offset future taxable income and expire through the year 2035. Pursuant to Code Sec.382 of the Internal Revenue Code, the utilization of net operating loss carryforwards may be limited as a result of a cumulative change in stock ownership of more than 50% over a three year period. The effect of such limitation on the utilization of net operating loss carryforwards has not been determined. Due to changes in control the availability of the net operating loss carryforwards to offset future taxable income may be limited. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies and Organization (Policies) | 12 Months Ended |
Jan. 31, 2015 | |
Accounting Policies [Abstract] | |
Financial Instruments | Financial Instruments |
The carrying amounts of cash, accounts payable and accrued expenses approximate their fair values due to their short term nature and that they are receivable or payable upon demand. However, considerable judgment is involved in making fair value determinations and current estimates of fair value may differ significantly from amounts presented herein. | |
Use of Estimates | Use of Estimates |
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. | |
Cash and Cash Equivalents | Cash and Cash Equivalents |
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |
Loss Per Share | Loss Per Share |
Basic loss per share is calculated based on income available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted earnings per share is calculated based on income available to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period. | |
Income Taxes | Income Taxes |
Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. | |
The Company accounts for income taxes under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, “Accounting for Income Taxes. It prescribes a recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the Company has applied a more-likely-than-not recognition threshold for all tax uncertainties. The guidance only allows the recognition of those tax benefits that have a greater than 50% likelihood of being sustained upon examination by the various taxing authorities. The Company is subject to taxation in the United States. | |
The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized by applying statutory tax rates in effect in the years in which the differences between the financial reporting and tax filing bases of existing assets and liabilities are expected to reverse. The Company has considered future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance against the deferred tax assets. The Company has recorded a full valuation allowance against the deferred tax assets since the Company has determined that it is more likely than not that the Company may not be able to realize the deferred tax asset in the future. | |
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In assessing the realizability of deferred tax assets, Management evaluates whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on Management's evaluation, the net deferred tax asset was offset by a full valuation allowance in all periods presented. The Company's deferred tax asset valuation allowance will be reversed if and when the Company generates sufficient taxable income in the future to utilize the tax benefits of the related deferred tax assets. | |
The Company classifies penalties and interest related to income taxes as income tax expense in the Statements of Operations. | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards |
In June 2014, the Financial Accounting Standards Board issued amendments to the accounting guidance for development stage entities (Accounting Standards Update No. 2014-10), which amends the presentation and disclosure requirements for development stage entities. The Company has adopted the guidance effective as of January 31, 2015. For the period ended January 31, 2015, the Company adopted Accounting Standards Update No. 2014-10 which amends the presentation and disclosure requirements for development stage entities. Therefore, for the period ending January 31, 2015 the results of Development Stage operations were removed from the Company's financial statements. | |
In August 2014, the FASB issued ASU 2014-15, “ Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The amendments in ASU 2014-15 are effective for annual reporting periods ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company will adopt the methodologies prescribed by ASU 2014-15 by the date required, and does not anticipate that the adoption of ASU 2014-15 will have a material effect on its financial position or results of operations. | |
Aside from the above mentioned accounting standards, the Company has evaluated all of the recently issued accounting standards and has determined that they have no impact on the Company's financial statements. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||
Jan. 31, 2015 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes consists of the following: | |||||||
Year ended January 31, | ||||||||
2015 | 2014 | |||||||
Current | ||||||||
Federal | $ | — | $ | — | ||||
State | — | — | ||||||
Deferred | ||||||||
Federal | (26,673 | ) | (27,503 | ) | ||||
State | (4,129 | ) | (4,258 | ) | ||||
Change in valuation allowance | 30,802 | 31,761 | ||||||
$ | — | $ | — | |||||
Schedule of Income Tax Percent by Jurisdiction | ||||||||
Year ended January 31, | ||||||||
2015 | 2014 | |||||||
Income tax at statutory rate | 34 | % | 34 | % | ||||
State income taxes, net of federal benefit | 3.3 | 3.3 | ||||||
Change in valuation allowance | (37.30 | ) | (37.30 | ) | ||||
Total | 0 | % | 0 | % | ||||
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and tax liabilities are as follows: | |||||||
January 31, | ||||||||
2015 | 2014 | |||||||
Net operating loss | $ | 156,303 | $ | 125,501 | ||||
Gross deferred tax assets: | 156,303 | 125,501 | ||||||
Less: valuation allowance | (156,303 | ) | (125,501 | ) | ||||
Net deferred tax asset | $ | — | $ | — | ||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies and Organization (Details) (USD $) | Jan. 31, 2015 | Jan. 31, 2014 | Jun. 01, 2011 | Sep. 21, 2011 |
Significant Accounting Policies [Line Items] | ||||
Authorized common stock | 200,000,000 | 200,000,000 | ||
Par value of common stock (in usd per share) | $0.00 | $0.00 | ||
Authorized blank check preferred stock | 50,000,000 | 50,000,000 | ||
Par value of blank check preferred stock (in usd per share) | $0.00 | $0.00 | ||
New Jersey Corporation | ||||
Significant Accounting Policies [Line Items] | ||||
Authorized common stock | 30,000,000 | |||
Florida Corporation | ||||
Significant Accounting Policies [Line Items] | ||||
New shares issued to shareholders for each acqiree share owned | 0.02 | |||
Authorized common stock | 200,000,000 | |||
Par value of common stock (in usd per share) | 0.001 | |||
Authorized blank check preferred stock | 50,000,000 | |||
Par value of blank check preferred stock (in usd per share) | 0.001 |
Due_To_Shareholder_Details
Due To Shareholder (Details) (Majority Shareholder, USD $) | 12 Months Ended | |||
Jan. 31, 2015 | Dec. 15, 2014 | Jan. 31, 2014 | Apr. 30, 2012 | |
Related Party Transaction [Line Items] | ||||
Credit facility provided by the majority shareholder | $350,000 | |||
Annual rate of interest | 11.00% | |||
Amount outstanding under the credit facility | 313,358 | 221,895 | ||
Minimum | ||||
Related Party Transaction [Line Items] | ||||
Threshold for repayment of costs incurred by shareholders on behalf of the company | $17,500 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | |
Jan. 31, 2015 | Jan. 31, 2014 | |
Provision (benefit) for income taxes | ||
Federal, current | $0 | $0 |
State, current | 0 | 0 |
Federal, deferred | -26,673 | -27,503 |
State, deferred | -4,129 | -4,258 |
Change in valuation allowance | 30,802 | 31,761 |
Income tax expense (benefit) | 0 | 0 |
Tax Rate Reconciliation | ||
Income tax at statutory rate | 34.00% | 34.00% |
State income taxes, net of federal benefit | 3.30% | 3.30% |
Change in valuation allowance | -37.30% | -37.30% |
Total | 0.00% | 0.00% |
Significant portions of the deferred tax assets and tax liabilities | ||
Net operating loss | 156,303 | 125,501 |
Gross deferred tax assets | 156,303 | 125,501 |
Less: valuation allowance | -156,303 | -125,501 |
Net deferred tax asset | 0 | 0 |
Net operating loss | $424,000 |