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Prepaid Expenses
6 Months Ended
Jun. 30, 2017
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. On or around November 17, 2016, the Company filed a complaint against Consultant in Superior Court of the State of California, County of Riverside, for Breach of Contract and Breach of Implied Covenant of Good Faith and Fair Dealing. The Consultant been served, and did not file a defense, and has surrendered the stock certificate. As such, the Company expensed the stock-based payment for services in fiscal 2017.

 

In 2016, the Company recognized a prepaid expense for filing fees of $14,000. These prepaid fees are being amortized at $1,750 per quarter, and that expense has been recognized in this fiscal quarter. The current balance at June 30, 2017 is $1,750.