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Prepaid Expenses
6 Months Ended
Jun. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid Expenses

Note 4 - Prepaid Expenses

 

On August 26, 2015, the Company finalized a consulting agreement that it entered into on August 11, 2015 with Michael Korsunsky ("Consultant") pursuant to which Consultant was engaged by the Company to (i) provide introductions to strategic business alliances, (ii) advise on exposure and risk in the operation of smart phone applications and (iii) advise on market fluctuations within the different categories of the smart phone application delivery services sector, in consideration of 100,000 restricted shares of common stock of the Company, which shares were issued on or around August 26, 2015. The fair value of the services is $26,000, which was booked as a prepaid expense. Shares were issued for the services, though the service has not yet been provided.

 

In September 2015, the Company recognized a prepaid expense for filing fees of $10,498. These prepaid fees are being amortized at $1,750 per quarter, and that expense has been recognized in this fiscal quarter.

 

On June 23, 2016, the Company prepaid legal services for 12 months, with an effective date of January 7, 2016. For each of the next 4 quarters, the Company will recognize an expense of $58,496 per quarter against this asset.

 

Prepaid expenses at June 30, 2016 is $34,748 and $25,998 at December 31, 2015.