0001511164-14-000559.txt : 20140930 0001511164-14-000559.hdr.sgml : 20140930 20140930153406 ACCESSION NUMBER: 0001511164-14-000559 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20140930 DATE AS OF CHANGE: 20140930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Rangeford Resources, Inc. CENTRAL INDEX KEY: 0001438035 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 770707050 STATE OF INCORPORATION: NV FISCAL YEAR END: 0404 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-54306 FILM NUMBER: 141129640 BUSINESS ADDRESS: STREET 1: 5215 N. O'CONNOR BOULEVARD, SUITE 1820 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 212-732-7184 EXT 215 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BOULEVARD, SUITE 1820 CITY: IRVING STATE: TX ZIP: 75039 10-K/A 1 xbrlformarch201210k.htm FORM 10-K/A XBRL for March 2012 10-K (00017718).DOCX



UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


Amendment No. 1

to

FORM 10-K


[X]   ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


For the annual period ended March 31, 2012


[  ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT


For the transition period from __________ to ___________


Commission File Number: 0-52856


Rangeford Resources Inc.

(Exact name of registrant as specified in its charter)


Nevada

77-1176182

(State or other jurisdiction of incorporation or organization)

(IRS Employer Identification No.)


556 Silicon Drive, Suite 103, Southlake, TX 76092

(Address of principal executive offices)


817-648-8062

(Registrant's Telephone number)

____________________________________________________

(Former Address and phone of principal executive offices)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to the filing requirements for the past 90 days.

  [X] Yes [  ] No


Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 for Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [  ] Yes [X] No


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company:


Large accelerated filer

[  ]

Accelerated filer

[  ]

Non-accelerated filer

[  ]

Smaller reporting company

[X]


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

  [  ] Yes [X] No


10,081,700 shares of Common Stock, par value $0.001, were outstanding on July 16, 2012.




1




Explanatory Note


Rangeford Resources Inc. (the “Company”) is filing this Amendment No. 1 (the “Amendment”) to the Company’s annual report on Form 10-K for the period ended March 31, 2012 (the “Form 10-K”), filed with the Securities and Exchange Commission on July 16, 2012 (the “Original Filing Date”), solely to file Exhibit 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following materials from the Company’s Form 10-K, formatted in XBRL (eXtensible Business Reporting Language):


  

101.INS

XBRL Instance Document

  

101.SCH

XBRL Taxonomy Schema

  

101.CAL

XBRL Taxonomy Calculation Linkbase

  

101.DEF

XBRL Taxonomy Definition Linkbase

  

101.LAB

XBRL Taxonomy Label Linkbase

  

101.PRE

XBRL Taxonomy Presentation Linkbase


No other changes have been made to the Form 10-K. This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way disclosures made in the Form 10-K.






2




Item 6.      Exhibits

  

  

  

Exhibit Number

  

Description

31.1+

  

Certification of Chief Executive Officer required by Rule 13a-14/15d-14(a) under the Exchange Act

31.2+

  

Certification of Chief Financial Officer required by Rule 13a-14/15d-14(a) under the Exchange Act

32.1+

  

Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

  

  

  

101.INS +

XBRL Instance Document

  

101.SCH +

XBRL Taxonomy Extension Schema Document

  

101.CAL +

XBRL Taxonomy Extension Calculation Linkbase Document

  

101.DEF +

XBRL Taxonomy Extension Definition Linkbase Document

  

101.LAB +

XBRL Taxonomy Extension Labels Linkbase Document

  

101.PRE +

XBRL Taxonomy Extension Presentation Linkbase Document

  


+ Filed herewith.






3




Signatures


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


 

RANGEFORD RESOURCES INC.

 

  

  

Dated: September 30, 2014

By:

/s/ Colin Richardson

 

  

Colin Richardson

 

  

Chief Executive Officer, President, Principal Executive Officer and Principal Financial and

Accounting Officer






4



Exhibit 31.1


CERTIFICATION OF CHIEF EXECUTIVE OFFICER


I, Colin Richardson, certify that:


1.           I have reviewed this amendment to annual report on Form 10-K of Rangeford Resources Inc.;


2.           Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;


3.           Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;


4.           The registrant other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:


(a)           Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;


(b)           Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


(c)           Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and


(d)           Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and


5.             The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):


(a)            All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and


(b)           Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.



Date:  September 30, 2014


By:  /s/ Colin Richardson

Colin Richardson

President/Chief Executive Officer




5



EXHIBIT 31.2


CERTIFICATION


I, Colin Richardson, certify that:


1.           I have reviewed this amendment to annual report on Form 10-K of Rangeford Resources Inc..;


2.           Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;


3.           Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;


4.           The registrant other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:


(a)           Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;


(b)           Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


(c)           Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and


(d)           Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and


5.             The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):


(a)            All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and


(b)           Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.



Date:  September 30, 2014


By: /s/ Colin Richardson

Colin Richardson

Chief Financial Officer




6



EXHIBIT 32.1


CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Amendment to the Annual Report of Rangeford Resources Inc. (the "Company") on Form 10-K for the year ended March 31, 2012 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Colin Richardson, President/Chief Executive Officer, Principal Executive Officer and Principal Financial and Accounting Officer of Rangeford Resources, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:


(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and


(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.



/s/ Colin Richardson

Colin Richardson

President/Chief Executive Officer, Principal Executive Officer, and Principal Financial and Accounting Officer


Date:  September 30, 2014




7



EX-101.INS 2 rgfr-20120331.xml XBRL INSTANCE DOCUMENT 200 1880 200 1880 200 1880 3350 700 160 21055 15495 24565 16195 10082 10182 30131 28831 -64578 -53328 200 1880 0.001 75000000 10087700 10181700 10087700 10181700 11090 15136 64418 11090 15136 64418 -11090 -15136 -64418 160 160 160 160 -11250 -15136 -64578 -0.00 -0.00 10176782 10160803 58 42 100 57803 7630 5570 13200 7630058 2312 1688 -4000 2312139 10000 7300 -4000 13300 10000000 4000 4000 14 736 750 14000 -31020 -31020 10014 8036 -31020 -12970 10014000 85 10565 10650 85200 -7172 -7172 10099 18601 -38192 -9492 10099200 83 10230 10313 82500 -15136 -15136 10182 28831 -53328 -14315 10181700 -100 100 1200 -11250 10082 30131 -64578 -24365 10081700 -11250 -15136 -64578 13200 2650 3350 160 160 -8440 -15136 -47868 7060 2000 22555 -1500 -1500 1200 1200 10313 25813 6760 12313 48068 -1680 -2823 200 4703 1880 200 13200 10-K 2012-03-31 false Rangeford Resources, Inc. 0001438035 --03-31 10181700 0 Smaller Reporting Company No No No 2012 FY <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><b>Note 1 -&nbsp;Nature of Business</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Rangeford Resources, Inc. (the Company) was incorporated on December 4, 2007 in the State of Nevada. The Company was organized under the laws of the State of Nevada on December 4, 2007 for the purpose of purchasing, developing and operating oil and gas leases. The Company is an oil and gas company registered under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;). The Company currently has no operations or realized revenues from its planned principle business purpose and, in accordance with FASB ASC 915&nbsp;<i>&#147;Development Stage Entities,&#148;</i>&nbsp;is considered a Development Stage Company.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><b>Note 2 - Significant Accounting Policies</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Estimates</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>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.&nbsp;&nbsp;Actual results could differ from those estimates.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Cash</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.05pt;line-height:normal'>Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Income taxes</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company accounts for income taxes under ASC 740&nbsp;<i>&quot;Income Taxes&quot;</i>&nbsp;which codified SFAS 109,&nbsp;<i>&quot;Accounting for Income Taxes&quot;</i>and FIN 48&nbsp;<i>&#147;Accounting for Uncertainty in Income Taxes &#150; an Interpretation of FASB Statement No. &nbsp;109.&#148;</i>&nbsp;Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. 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. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Fair Value of Financial Instruments</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses. &nbsp;All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2011 and 2010.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Level 1. Observable inputs such as quoted prices in active markets;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company does not have any assets or liabilities measured at fair value on a recurring basis at March 31, 2011 and 2010. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis during the years ended March 31, 2012 and 2011.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u>Earnings Per Share Information</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>FASB ASC 260, &#147;<i>Earnings Per Share&#148;</i>&nbsp;provides for calculation of &quot;basic&quot; and &quot;diluted&quot; earnings per share. &nbsp;Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period. &nbsp;Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. &nbsp;Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Share Based Expenses</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>ASC 718&nbsp;<i>&quot;Compensation - Stock Compensation&quot;</i>&nbsp;codified SFAS No. 123 prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights. , may be classified as either equity or liabilities. The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (<i>a</i>) the option to settle by issuing equity instruments lacks commercial substance or (<i>b</i>) the present obligation is implied because of an entity's past practices or stated policies. If a present obligation exists, the transaction should be recognized as a liability; otherwise, the transaction should be recognized as equity</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50&nbsp;<i>&quot;Equity - Based Payments to Non-Employees&quot;</i>&nbsp;which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 (&quot;EITF 96-18&quot;),&nbsp;<i>&quot;Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services&quot;.</i>&nbsp;Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (<i>a</i>) the goods or services received; or (<i>b</i>) the equity instruments issued. The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Going concern</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company&#146;s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern.&nbsp;&nbsp;This contemplates the realization of assets and the liquidation of liabilities in the normal course of business.&nbsp;&nbsp;Currently, the Company has minimal cash and no material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern.&nbsp;&nbsp;The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company.&nbsp;&nbsp;There can be no assurance that the Company will be successful in either situation in order to continue as a going concern.&nbsp;&nbsp;The officers and directors have committed to advancing certain operating costs of the Company.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Recent Accounting Pronouncements</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>There were accounting standards and interpretations issued during the year ended March 31, 2012, none of which are expected to have a material impact on the Company&#146;s financial position, operations, or cash flows.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>Note 3 -</b>&nbsp;<b>Stockholders&#146; Equity</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u>Common stock</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The authorized common stock of the Company consists of 75,000,000 shares with par value of $0.001.&nbsp;&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>On December 4, 2007, the Company authorized the issuance of 10,000,000 shares of its $0.001 par value common stock at $0.00173 per share in consideration of $100 in cash, $4,000 in a subscription receivable and $13,200 of professional and legal services for a total consideration of $17,300.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>During the year ended March 31, 2009, the Company issued 14,000 shares of its common stock pursuant to its S-1 registration statement which was declared effective on August 15, 2008 for a total cash consideration of $750. The Company also issued 82,500 and 85,200 shares during the years ended March 31, 2011 and 2010 for a total cash consideration of $10,313 and $10,650, respectively.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>During the year ended March 31, 2011, the Company rescinded 100,000 common shares previously issued for services.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>There were 10,081,700 and 10,099,200 common shares issued and outstanding as of March 31, 2012 and 2011.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u>Net loss per common share</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Net loss per share is computed using the basic and diluted weighted average number of common shares outstanding during the period. &nbsp;The weighted-average number of common shares outstanding during each period is used to compute basic loss per share.&nbsp;&nbsp;Diluted loss per share is computed using the weighted average number of shares and dilutive potential common shares outstanding unless common stock equivalent shares are anti-dilutive.&nbsp;&nbsp;Dilutive potential common shares are additional common shares assumed to be exercised. Basic net loss per common share is based on the weighted average number of shares of common stock outstanding during the years ended March 31, 2011 and 2010.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>Note 4 -</b>&nbsp;<b>Income Taxes</b>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Under ACS 740&nbsp;<i>&#147;Income Taxes,&#148;</i>&nbsp;when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit.&nbsp; We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carryforwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carryforward period.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company has not taken a tax position that, if challenged, would have a material effect on the financial statements for the years ended March 31, 2011 and 2010, applicable under ACS 740. &nbsp;As a result of the adoption of ACS 740, we did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the balance sheet.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Changes in the net deferred tax assets consist of the following:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0"> <tr align="left"> <td width="229" style='width:171.75pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="66" style='width:49.5pt;padding:0'></td> <td width="18" style='width:13.5pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="84" style='width:63.0pt;padding:0'></td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="96" colspan="2" valign="top" style='width:1.0in;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2012</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="114" colspan="2" valign="top" style='width:85.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2011</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net operating loss carry forward</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>11,090</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>15,136</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Valuation allowance</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(11,090)</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(15,136)</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net deferred tax asset</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>-</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</p> </td> </tr> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>A reconciliation of income taxes computed at the 35% statutory rate to the income tax recorded is as follows:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0"> <tr align="left"> <td width="229" style='width:171.75pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="66" style='width:49.5pt;padding:0'></td> <td width="18" style='width:13.5pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="84" style='width:63.0pt;padding:0'></td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="96" colspan="2" valign="top" style='width:1.0in;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2012</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="114" colspan="2" valign="top" style='width:85.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2011</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net operating loss carry forward</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>3,882</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>5,298</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Valuation allowance</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(3,882)</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(5,298)</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net deferred tax asset</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>-</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</p> </td> </tr> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company did not pay any income taxes during the years ended March 31, 2012 or 2011.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The net federal operating loss carry forward will expire in 2030.&nbsp;&nbsp;This carry forward may be limited upon the consummation of a business combination under IRC Section 381.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>Note 5 &#150; Notes Payable</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company received loans from a shareholder totaling $7,060 and $2,000 during the years ended March 31, 2012 and 2011 to fund operations. The loans are non-interest bearing and is due on demand. As such they are included in current liabilities as of March 31, 2012 and 2011. Imputed interest has been considered, but was determined to be immaterial to the financial statements as a whole.&nbsp;</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>Note 6 -</b>&nbsp;<b>Related Party Transactions</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company neither owns nor leases any real or personal property.&nbsp;&nbsp;An officer or resident agent of the corporation provides office services without charge.&nbsp;&nbsp;Such costs are immaterial to the financial statements and accordingly, have not been reflected therein.&nbsp;&nbsp;The officers and directors for the Company are involved in other business activities and may, in the future, become involved in other business opportunities.&nbsp;&nbsp;If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interest.&nbsp;&nbsp;The Company has not formulated a policy for the resolution of such conflicts.&nbsp;&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company had received loans from two of its shareholders totaling $22,555 from inception to March 31, 2012 for the purposes of funding start up operations. This includes $7,060 and $2,000 received during the years ended March 31, 2012 and 2011. These loans are non-interest bearing and are due on demand and as such are included in current liabilities. Imputed interest has been considered by was determined to be immaterial to the financial statements as a whole. &nbsp;</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>Note 7 &#150; Subsequent Events</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company has evaluated subsequent events from the balance sheet date through the date of this filing, and determined there are no events to disclose.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Estimates</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>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.&nbsp;&nbsp;Actual results could differ from those estimates.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Cash</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.05pt;line-height:normal'>Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Income taxes</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company accounts for income taxes under ASC 740&nbsp;<i>&quot;Income Taxes&quot;</i>&nbsp;which codified SFAS 109,&nbsp;<i>&quot;Accounting for Income Taxes&quot;</i>and FIN 48&nbsp;<i>&#147;Accounting for Uncertainty in Income Taxes &#150; an Interpretation of FASB Statement No. &nbsp;109.&#148;</i>&nbsp;Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. 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. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Fair Value of Financial Instruments</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses. &nbsp;All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2011 and 2010.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Level 1. Observable inputs such as quoted prices in active markets;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company does not have any assets or liabilities measured at fair value on a recurring basis at March 31, 2011 and 2010. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis during the years ended March 31, 2012 and 2011.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u>Earnings Per Share Information</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>FASB ASC 260, &#147;<i>Earnings Per Share&#148;</i>&nbsp;provides for calculation of &quot;basic&quot; and &quot;diluted&quot; earnings per share. &nbsp;Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period. &nbsp;Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. &nbsp;Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Share Based Expenses</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>ASC 718&nbsp;<i>&quot;Compensation - Stock Compensation&quot;</i>&nbsp;codified SFAS No. 123 prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights. , may be classified as either equity or liabilities. The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (<i>a</i>) the option to settle by issuing equity instruments lacks commercial substance or (<i>b</i>) the present obligation is implied because of an entity's past practices or stated policies. If a present obligation exists, the transaction should be recognized as a liability; otherwise, the transaction should be recognized as equity</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50&nbsp;<i>&quot;Equity - Based Payments to Non-Employees&quot;</i>&nbsp;which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 (&quot;EITF 96-18&quot;),&nbsp;<i>&quot;Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services&quot;.</i>&nbsp;Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (<i>a</i>) the goods or services received; or (<i>b</i>) the equity instruments issued. The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Going concern</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company&#146;s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern.&nbsp;&nbsp;This contemplates the realization of assets and the liquidation of liabilities in the normal course of business.&nbsp;&nbsp;Currently, the Company has minimal cash and no material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern.&nbsp;&nbsp;The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company.&nbsp;&nbsp;There can be no assurance that the Company will be successful in either situation in order to continue as a going concern.&nbsp;&nbsp;The officers and directors have committed to advancing certain operating costs of the Company.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><u>Recent Accounting Pronouncements</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>There were accounting standards and interpretations issued during the year ended March 31, 2012, none of which are expected to have a material impact on the Company&#146;s financial position, operations, or cash flows.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0"> <tr align="left"> <td width="229" style='width:171.75pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="66" style='width:49.5pt;padding:0'></td> <td width="18" style='width:13.5pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="84" style='width:63.0pt;padding:0'></td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="96" colspan="2" valign="top" style='width:1.0in;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2012</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="114" colspan="2" valign="top" style='width:85.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2011</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net operating loss carry forward</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>11,090</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>15,136</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Valuation allowance</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(11,090)</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(15,136)</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net deferred tax asset</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>-</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</p> </td> </tr> </table> </div> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0"> <tr align="left"> <td width="229" style='width:171.75pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="66" style='width:49.5pt;padding:0'></td> <td width="18" style='width:13.5pt;padding:0'></td> <td width="30" style='width:22.5pt;padding:0'></td> <td width="84" style='width:63.0pt;padding:0'></td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="96" colspan="2" valign="top" style='width:1.0in;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2012</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="114" colspan="2" valign="top" style='width:85.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>2011</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net operating loss carry forward</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>3,882</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>5,298</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Valuation allowance</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(3,882)</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(5,298)</p> </td> </tr> <tr align="left"> <td width="229" valign="bottom" style='width:171.75pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net deferred tax asset</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="66" valign="top" style='width:49.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>-</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="30" valign="top" style='width:22.5pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>$</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;border-bottom:double black 2.25pt;background:#CCFFFF;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</p> </td> </tr> </table> </div> 75000000 0.001 10000000 0.001 0.00173 100 4000 14000 750 82500 85200 10313 10650 100000 10081700 10099200 11090 15136 -11090 -15136 3882 5298 -3882 -5298 7060 2000 22555 0001438035 2012-03-31 0001438035 us-gaap:CommonStockMember 2012-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2012-03-31 0001438035 fil:AccumulatedDeficitMember 2012-03-31 0001438035 2011-04-01 2012-03-31 0001438035 2011-03-31 0001438035 2010-04-01 2011-03-31 0001438035 2008-04-01 2009-03-31 0001438035 2009-04-01 2010-03-31 0001438035 us-gaap:CommonStockMember 2008-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2008-03-31 0001438035 fil:SubscriptionReceivableMember 2008-03-31 0001438035 2008-03-31 0001438035 us-gaap:CommonStockMember 2008-04-01 2009-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2008-04-01 2009-03-31 0001438035 fil:SubscriptionReceivableMember 2008-04-01 2009-03-31 0001438035 fil:AccumulatedDeficitMember 2008-04-01 2009-03-31 0001438035 us-gaap:CommonStockMember 2009-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2009-03-31 0001438035 fil:AccumulatedDeficitMember 2009-03-31 0001438035 2009-03-31 0001438035 us-gaap:CommonStockMember 2009-04-01 2010-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2009-04-01 2010-03-31 0001438035 fil:AccumulatedDeficitMember 2009-04-01 2010-03-31 0001438035 us-gaap:CommonStockMember 2010-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2010-03-31 0001438035 fil:AccumulatedDeficitMember 2010-03-31 0001438035 2010-03-31 0001438035 us-gaap:CommonStockMember 2010-04-01 2011-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2010-04-01 2011-03-31 0001438035 fil:AccumulatedDeficitMember 2010-04-01 2011-03-31 0001438035 us-gaap:CommonStockMember 2011-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2011-03-31 0001438035 fil:AccumulatedDeficitMember 2011-03-31 0001438035 us-gaap:CommonStockMember 2011-04-01 2012-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2011-04-01 2012-03-31 0001438035 fil:AccumulatedDeficitMember 2011-04-01 2012-03-31 0001438035 2010-01-01 2011-03-31 0001438035 2009-12-31 0001438035 2007-12-05 0001438035 2007-12-03 2008-03-31 0001438035 us-gaap:CommonStockMember 2007-12-03 2008-03-31 0001438035 us-gaap:AdditionalPaidInCapitalMember 2007-12-03 2008-03-31 0001438035 fil:SubscriptionReceivableMember 2007-12-03 2008-03-31 0001438035 fil:N35Member 2012-03-31 0001438035 fil:N35Member 2011-03-31 0001438035 2007-12-04 2012-03-31 0001438035 2007-12-03 2012-03-31 iso4217:USD shares iso4217:USD shares $0.001 par value; 75,000,0000 shares authorized; 10,087,700 and 10,181,700 shares issued and outstanding, respectively. 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TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT LIABILITIES AND STOCKHOLDERS' DEFICIT Entity Voluntary Filers Shares Issued, Price Per Share Tables/Schedules Going Concern Accrued interest payable {1} Accrued interest payable Document and Entity Information: Repayments of related party payables Proceeds from related party payable Collection of subscription receivable Interest expense Accounts payable Loan Payable to Related Party Loan payable to related party. Fair Value of Financial Instruments Common stock issued for subscription receivable, Value Total other expense Additional paid-in capital Cash Entity Registrant Name Statutory Rate {1} Statutory Rate Common Stock Shares Issued and Outstanding Common stock shares issued and outstanding. Earnings Per Share Information Cash {1} Cash Cash paid for interest Accounts payable {1} Accounts payable Common Stock, Par Value Stockholders' Deficit Accrued interest payable Amendment Description Current Fiscal Year End Date Deferred Tax Assets, Net of Valuation Allowance Changes in operating assets and liabilities: Statement {1} Statement Common Stock, Shares Issued Entity Current Reporting Status Due to Related Paty Due to related party for start-up funding. Schedule of Deferred Tax Assets and Liabilities Share Based Expenses Statement of Cash Flows Accumulated Deficit Common Stock, Shares Outstanding Deferred Tax Assets, Operating Loss Carryforwards Stock Issued During Period, Shares, New Issues Note 7 - Subsequent Events Note 6 - Related Party Transactions Net cash used in operating activities Net cash used in operating activities Rescinded common stock, Value Collection of subscription receivable. 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Note 4 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)
Mar. 31, 2012
Mar. 31, 2011
Details    
Deferred Tax Assets, Operating Loss Carryforwards $ 11,090 $ 15,136
Valuation Allowance, Amount $ (11,090) $ (15,136)

XML 11 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 3 - Stockholders' Equity
12 Months Ended
Mar. 31, 2012
Notes  
Note 3 - Stockholders' Equity

Note 3 - Stockholders’ Equity

 

Common stock

 

The authorized common stock of the Company consists of 75,000,000 shares with par value of $0.001.  

 

On December 4, 2007, the Company authorized the issuance of 10,000,000 shares of its $0.001 par value common stock at $0.00173 per share in consideration of $100 in cash, $4,000 in a subscription receivable and $13,200 of professional and legal services for a total consideration of $17,300.

 

During the year ended March 31, 2009, the Company issued 14,000 shares of its common stock pursuant to its S-1 registration statement which was declared effective on August 15, 2008 for a total cash consideration of $750. The Company also issued 82,500 and 85,200 shares during the years ended March 31, 2011 and 2010 for a total cash consideration of $10,313 and $10,650, respectively.

 

During the year ended March 31, 2011, the Company rescinded 100,000 common shares previously issued for services.

 

There were 10,081,700 and 10,099,200 common shares issued and outstanding as of March 31, 2012 and 2011.

 

Net loss per common share

 

Net loss per share is computed using the basic and diluted weighted average number of common shares outstanding during the period.  The weighted-average number of common shares outstanding during each period is used to compute basic loss per share.  Diluted loss per share is computed using the weighted average number of shares and dilutive potential common shares outstanding unless common stock equivalent shares are anti-dilutive.  Dilutive potential common shares are additional common shares assumed to be exercised. Basic net loss per common share is based on the weighted average number of shares of common stock outstanding during the years ended March 31, 2011 and 2010.

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Note 6 - Related Party Transactions (Details) (USD $)
52 Months Ended
Mar. 31, 2012
Details  
Due to Related Paty $ 22,555
XML 14 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 2 - Significant Accounting Policies
12 Months Ended
Mar. 31, 2012
Notes  
Note 2 - Significant Accounting Policies

Note 2 - Significant Accounting Policies

 

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.

 

Cash

 

Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired.

 

Income taxes

 

The Company accounts for income taxes under ASC 740 "Income Taxes" which codified SFAS 109, "Accounting for Income Taxes"and FIN 48 “Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No.  109.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. 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. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

 

Fair Value of Financial Instruments

 

The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses.  All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2011 and 2010.

 

FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

 

Level 1. Observable inputs such as quoted prices in active markets;

 

Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

 

Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.

 

The Company does not have any assets or liabilities measured at fair value on a recurring basis at March 31, 2011 and 2010. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis during the years ended March 31, 2012 and 2011.

 

Earnings Per Share Information

 

FASB ASC 260, “Earnings Per Share” provides for calculation of "basic" and "diluted" earnings per share.  Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period.  Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share.  Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding.

 

Share Based Expenses

 

ASC 718 "Compensation - Stock Compensation" codified SFAS No. 123 prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights. , may be classified as either equity or liabilities. The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (a) the option to settle by issuing equity instruments lacks commercial substance or (b) the present obligation is implied because of an entity's past practices or stated policies. If a present obligation exists, the transaction should be recognized as a liability; otherwise, the transaction should be recognized as equity

 

The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50 "Equity - Based Payments to Non-Employees" which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 ("EITF 96-18"), "Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services". Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date.

 

Going concern

 

The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern.  This contemplates the realization of assets and the liquidation of liabilities in the normal course of business.  Currently, the Company has minimal cash and no material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern.  The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company.  There can be no assurance that the Company will be successful in either situation in order to continue as a going concern.  The officers and directors have committed to advancing certain operating costs of the Company.

 

Recent Accounting Pronouncements

 

There were accounting standards and interpretations issued during the year ended March 31, 2012, none of which are expected to have a material impact on the Company’s financial position, operations, or cash flows.

XML 15 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Rangeford Resources, Inc. - Balance Sheets (USD $)
Mar. 31, 2012
Mar. 31, 2011
Current Assets:    
Cash $ 200 $ 1,880
Total Current Assets 200 1,880
Total Assets 200 1,880
Current Liabilities:    
Accounts payable 3,350 700
Accrued interest payable 160  
Related party payables 21,055 15,495
TOTAL CURRENT LIABILITIES 24,565 16,195
Stockholders' Deficit    
Common Stock 10,082 [1] 10,182 [1]
Additional paid-in capital 30,131 28,831
Deficit accumulated during the development stage (64,578) (53,328)
Total Stockholders' Deficit (24,365) (14,315)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 200 $ 1,880
[1] $0.001 par value; 75,000,0000 shares authorized; 10,087,700 and 10,181,700 shares issued and outstanding, respectively.
XML 16 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Rangeford Resources, Inc. - Statements of Cash Flows (USD $)
12 Months Ended 15 Months Ended 52 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Cash flows from Operating Activities      
Net loss $ (11,250) $ (15,136) $ (64,578)
Adjustments to reconcile net loss to net cash used in operating activities:      
Common stock issued for services       13,200
Changes in operating assets and liabilities:      
Accounts payable 2,650   3,350
Accrued interest payable 160   160
Net cash used in operating activities (8,440) (15,136) (47,868)
Cash Flows From Financing Activities      
Proceeds from related party payable 7,060 2,000 22,555
Repayments of related party payables (1,500)   (1,500)
Contributed capital 1,200   1,200
Proceeds from issuance of stock   10,313 25,813
Net cash provided by financing activities 6,760 12,313 48,068
Net (decrease) increase in cash (1,680) (2,823) 200
Cash, Beginning of Period 1,880 4,703  
Cash, End of Period 200 1,880 200
Supplemental disclosure of non-cash investing and financing activities:      
Rescission of shares of common stock    [1]    [1]    [1]
Issuance of common stock for professional and consulting services    [2]    [2] 13,200 [2]
Supplemental Cash Flow Information:      
Cash paid for interest         
Cash paid for income taxes         
[1] Issuance of 7,630,058 shares of common stock for professional and consulting services
[2] Rescission of 100,000 shares of common stock
XML 17 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 4 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)
12 Months Ended
Mar. 31, 2012
Tables/Schedules  
Schedule of Deferred Tax Assets and Liabilities

 

 

2012

 

2011

Net operating loss carry forward

$

11,090

 

$

15,136

Valuation allowance

 

(11,090)

 

 

(15,136)

Net deferred tax asset

$

-

 

$

                          -

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Note 3 - Stockholders' Equity (Details) (USD $)
12 Months Ended
Mar. 31, 2011
Mar. 31, 2010
Mar. 31, 2012
Mar. 31, 2009
Dec. 05, 2007
Details          
Common Stock, Shares Authorized 75,000,000   75,000,000    
Common Stock, Par Value $ 0.001   $ 0.001   $ 0.001
Common Stock, Shares Issued 10,181,700 85,200 10,087,700 14,000 10,000,000
Shares Issued, Price Per Share         $ 0.00173
Cash $ 1,880   $ 200 $ 750 $ 100
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable         4,000
Stock Issued During Period, Shares, New Issues 82,500        
Cash Consideration $ 10,313 $ 10,650      
Rescinded common stock, Shares 100,000        
Common Stock Shares Issued and Outstanding 10,099,200   10,081,700    
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Note 1 - Nature of Business
12 Months Ended
Mar. 31, 2012
Notes  
Note 1 - Nature of Business

Note 1 - Nature of Business

 

Rangeford Resources, Inc. (the Company) was incorporated on December 4, 2007 in the State of Nevada. The Company was organized under the laws of the State of Nevada on December 4, 2007 for the purpose of purchasing, developing and operating oil and gas leases. The Company is an oil and gas company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Company currently has no operations or realized revenues from its planned principle business purpose and, in accordance with FASB ASC 915 “Development Stage Entities,” is considered a Development Stage Company.

XML 21 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
Statement of Financial Position - Parenthetical (USD $)
Mar. 31, 2012
Mar. 31, 2011
Statement of Financial Position    
Common Stock, Par Value $ 0.001 $ 0.001
Common Stock, Shares Authorized 75,000,000 75,000,000
Common Stock, Shares Issued 10,087,700 10,181,700
Common Stock, Shares Outstanding 10,087,700 10,181,700
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Note 2 - Significant Accounting Policies: Fair Value of Financial Instruments (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Fair Value of Financial Instruments

Fair Value of Financial Instruments

 

The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses.  All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2011 and 2010.

 

FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

 

Level 1. Observable inputs such as quoted prices in active markets;

 

Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

 

Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.

 

The Company does not have any assets or liabilities measured at fair value on a recurring basis at March 31, 2011 and 2010. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis during the years ended March 31, 2012 and 2011.

XML 23 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document and Entity Information (USD $)
12 Months Ended
Mar. 31, 2012
Document and Entity Information:  
Entity Registrant Name Rangeford Resources, Inc.
Document Type 10-K
Document Period End Date Mar. 31, 2012
Amendment Flag false
Entity Central Index Key 0001438035
Current Fiscal Year End Date --03-31
Entity Common Stock, Shares Outstanding 10,181,700
Entity Filer Category Smaller Reporting Company
Entity Current Reporting Status No
Entity Voluntary Filers No
Entity Well-known Seasoned Issuer No
Document Fiscal Year Focus 2012
Document Fiscal Period Focus FY
Entity Public Float $ 0
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Note 2 - Significant Accounting Policies: Earnings Per Share Information (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Earnings Per Share Information

Earnings Per Share Information

 

FASB ASC 260, “Earnings Per Share” provides for calculation of "basic" and "diluted" earnings per share.  Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period.  Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share.  Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding.

XML 25 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Rangeford Resources, Inc. - Statements of Operations (USD $)
12 Months Ended 52 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Income Statement      
Revenue         
OPERATING EXPENSES      
General and administrative 11,090 15,136 64,418
TOTAL OPERATING EXPENSES 11,090 15,136 64,418
Loss from operations (11,090) (15,136) (64,418)
OTHER EXPENSE      
Interest expense 160   160
Total other expense 160   160
Loss before income taxes (11,250) (15,136) (64,578)
Provision for income taxes         
Net loss $ (11,250) $ (15,136) $ (64,578)
Per share information:      
Basic and diluted loss per common share $ 0.00 $ 0.00  
Weighted average shares outstanding 10,176,782 10,160,803  
XML 26 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 6 - Related Party Transactions
12 Months Ended
Mar. 31, 2012
Notes  
Note 6 - Related Party Transactions

Note 6 - Related Party Transactions

 

The Company neither owns nor leases any real or personal property.  An officer or resident agent of the corporation provides office services without charge.  Such costs are immaterial to the financial statements and accordingly, have not been reflected therein.  The officers and directors for the Company are involved in other business activities and may, in the future, become involved in other business opportunities.  If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interest.  The Company has not formulated a policy for the resolution of such conflicts.  

 

The Company had received loans from two of its shareholders totaling $22,555 from inception to March 31, 2012 for the purposes of funding start up operations. This includes $7,060 and $2,000 received during the years ended March 31, 2012 and 2011. These loans are non-interest bearing and are due on demand and as such are included in current liabilities. Imputed interest has been considered by was determined to be immaterial to the financial statements as a whole.  

XML 27 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 5 - Notes Payable
12 Months Ended
Mar. 31, 2012
Notes  
Note 5 - Notes Payable

Note 5 – Notes Payable

 

The Company received loans from a shareholder totaling $7,060 and $2,000 during the years ended March 31, 2012 and 2011 to fund operations. The loans are non-interest bearing and is due on demand. As such they are included in current liabilities as of March 31, 2012 and 2011. Imputed interest has been considered, but was determined to be immaterial to the financial statements as a whole. 

XML 28 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 4 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)
12 Months Ended
Mar. 31, 2012
Tables/Schedules  
Schedule of Effective Income Tax Rate Reconciliation

 

 

2012

 

2011

Net operating loss carry forward

$

3,882

 

$

5,298

Valuation allowance

 

(3,882)

 

 

(5,298)

Net deferred tax asset

$

-

 

$

                         -

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Note 2 - Significant Accounting Policies: Share Based Expenses (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Share Based Expenses

Share Based Expenses

 

ASC 718 "Compensation - Stock Compensation" codified SFAS No. 123 prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights. , may be classified as either equity or liabilities. The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (a) the option to settle by issuing equity instruments lacks commercial substance or (b) the present obligation is implied because of an entity's past practices or stated policies. If a present obligation exists, the transaction should be recognized as a liability; otherwise, the transaction should be recognized as equity

 

The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50 "Equity - Based Payments to Non-Employees" which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 ("EITF 96-18"), "Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services". Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date.

XML 30 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 2 - Significant Accounting Policies: Cash (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Cash

Cash

 

Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired.

XML 31 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 7 - Subsequent Events
12 Months Ended
Mar. 31, 2012
Notes  
Note 7 - Subsequent Events

Note 7 – Subsequent Events

 

The Company has evaluated subsequent events from the balance sheet date through the date of this filing, and determined there are no events to disclose.

XML 32 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 2 - Significant Accounting Policies: Estimates (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Estimates

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.

XML 33 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 2 - Significant Accounting Policies: Income Taxes (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Income Taxes

Income taxes

 

The Company accounts for income taxes under ASC 740 "Income Taxes" which codified SFAS 109, "Accounting for Income Taxes"and FIN 48 “Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No.  109.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. 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. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

XML 34 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 2 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

There were accounting standards and interpretations issued during the year ended March 31, 2012, none of which are expected to have a material impact on the Company’s financial position, operations, or cash flows.

XML 35 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 4 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $)
Mar. 31, 2012
Mar. 31, 2011
Valuation Allowance, Amount $ (11,090) $ (15,136)
35%
   
Operating Loss Carryforwards 3,882 5,298
Valuation Allowance, Amount $ (3,882) $ (5,298)
XML 36 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Rangeford Resources, Inc. - Statement of Changes in Stockholders' Equity (USD $)
Common Stock
Additional Paid-in Capital
Subscription Receivable
Accumulated Deficit
Total
Balance, Value at Dec. 02, 2007          
Common stock issued for cash, Value $ 58 $ 42     $ 100
Common stock issued for cash, Shares 57,803        
Common stock issued for services, Value 7,630 5,570     13,200
Common stock issued for services, Shares 7,630,058        
Common stock issued for subscription receivable, Value 2,312 1,688 (4,000)    
Common stock issued for subscription receivable, Shares 2,312,139        
Balance, Value at Mar. 31, 2008 10,000 7,300 (4,000)   13,300
Balance, Shares at Mar. 31, 2008 10,000,000        
Common stock issued for cash, Value 14 736     750
Common stock issued for cash, Shares 14,000        
Net loss       (31,020) (31,020)
Collection of subscription receivable     4,000   4,000
Balance, Value at Mar. 31, 2009 10,014 8,036   (31,020) (12,970)
Balance, Shares at Mar. 31, 2009 10,014,000        
Common stock issued for cash, Value 85 10,565     10,650
Common stock issued for cash, Shares 85,200        
Net loss       (7,172) (7,172)
Balance, Value at Mar. 31, 2010 10,099 18,601   (38,192) (9,492)
Balance, Shares at Mar. 31, 2010 10,099,200        
Common stock issued for cash, Value 83 10,230     10,313
Common stock issued for cash, Shares 82,500        
Net loss       (15,136) (15,136)
Rescinded common stock, Shares         100,000
Balance, Value at Mar. 31, 2011 10,182 28,831   (53,328) (14,315)
Balance, Shares at Mar. 31, 2011 10,181,700        
Net loss       (11,250) (11,250)
Rescinded common stock, Value (100) 100      
Contributed capital   1,200     1,200
Balance, Value at Mar. 31, 2012 $ 10,082 $ 30,131   $ (64,578) $ (24,365)
Balance, Shares at Mar. 31, 2012 10,081,700        
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Note 4 - Income Taxes
12 Months Ended
Mar. 31, 2012
Notes  
Note 4 - Income Taxes

Note 4 - Income Taxes 

 

We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Under ACS 740 “Income Taxes,” when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit.  We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carryforwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carryforward period.

 

The Company has not taken a tax position that, if challenged, would have a material effect on the financial statements for the years ended March 31, 2011 and 2010, applicable under ACS 740.  As a result of the adoption of ACS 740, we did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the balance sheet.

 

Changes in the net deferred tax assets consist of the following:

 

 

2012

 

2011

Net operating loss carry forward

$

11,090

 

$

15,136

Valuation allowance

 

(11,090)

 

 

(15,136)

Net deferred tax asset

$

-

 

$

                          -

 

 

A reconciliation of income taxes computed at the 35% statutory rate to the income tax recorded is as follows:

 

 

2012

 

2011

Net operating loss carry forward

$

3,882

 

$

5,298

Valuation allowance

 

(3,882)

 

 

(5,298)

Net deferred tax asset

$

-

 

$

                         -

 

The Company did not pay any income taxes during the years ended March 31, 2012 or 2011.

 

The net federal operating loss carry forward will expire in 2030.  This carry forward may be limited upon the consummation of a business combination under IRC Section 381.

XML 39 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 5 - Notes Payable (Details) (USD $)
12 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Details    
Loan Payable to Related Party $ 7,060 $ 2,000
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Note 2 - Significant Accounting Policies: Going Concern (Policies)
12 Months Ended
Mar. 31, 2012
Policies  
Going Concern

Going concern

 

The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern.  This contemplates the realization of assets and the liquidation of liabilities in the normal course of business.  Currently, the Company has minimal cash and no material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern.  The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company.  There can be no assurance that the Company will be successful in either situation in order to continue as a going concern.  The officers and directors have committed to advancing certain operating costs of the Company.