Document and Entity Information
|
Document and Entity Information (USD $)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Document and Entity Information: | |
| Entity Registrant Name | Mascot Properties, Inc. |
| Document Type | 10-K |
| Document Period End Date | Jun. 30, 2012 |
| Amendment Flag | false |
| Entity Central Index Key | 0001520358 |
| Current Fiscal Year End Date | --06-30 |
| Entity Common Stock, Shares Outstanding | 104,208,000 |
| Entity Public Float | $ 24,204 |
| Entity Filer Category | Smaller Reporting Company |
| Entity Current Reporting Status | Yes |
| Entity Voluntary Filers | Yes |
| Entity Well-known Seasoned Issuer | No |
| Document Fiscal Year Focus | 2012 |
| Document Fiscal Period Focus | FY |
Mascot Properties, Inc. (A Development Stage Company) - Balance Sheets
|
Mascot Properties, Inc. (A Development Stage Company) - Balance Sheets (USD $)
|
Jun. 30, 2012
|
Jun. 30, 2011
|
|---|---|---|
| Current Assets | ||
| Cash | $ 81 | $ 13 |
| Total Current Assets | 81 | 13 |
| TOTAL ASSETS | 81 | 13 |
| Current Liabilities | ||
| Accounts payable and accrued expenses | 7,753 | 5,500 |
| Note payable - Related Parties | 42,425 | 18,550 |
| Total Current Liabilities | 50,178 | 24,050 |
| Stockholders' Equity | ||
| Preferred stock, $0.00001 par value, 20,000,000 shares authorized, 0 shares issued and outstanding | 0 | 0 |
| Common stock, $0.00001 par value, 250,000,000 shares authorized, 104,208,000 shares issued and outstanding at June 30, 2012 and June 30, 2011, respectively | 1,042 | 1,042 |
| Additional paid-in capital | 59,678 | 59,678 |
| Deficit accumulated during the development stage | (110,817) | (84,757) |
| Total Stockholders' Equity | (50,097) | (24,037) |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 81 | $ 13 |
Mascot Properties, Inc. (A Development Stage Company) - Statements of Operations
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Mascot Properties, Inc. (A Development Stage Company) - Statements of Operations (USD $)
|
12 Months Ended | 35 Months Ended | |
|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
|
| Revenues | $ 0 | $ 0 | $ 0 |
| Operating Expenses: | |||
| Consulting Fees - Related Party | 0 | 1,000 | 38,600 |
| Professional Fees | 16,525 | 16,510 | 55,035 |
| General and administrative | 9,535 | 3,744 | 17,182 |
| Total operating expenses | 26,060 | 21,254 | 110,817 |
| Income (loss) from operations | (26,060) | (21,254) | (110,817) |
| Income (loss) before income taxes | (26,060) | (21,254) | (110,817) |
| Income tax expense | 0 | 0 | 0 |
| Net Income (loss) | $ (26,060) | $ (21,254) | $ (110,817) |
| Basic Income (loss) per Common Share | $ 0 | $ 0 | |
| Weighted Average Number of Common Shares Outstanding | 104,208,000 | 101,935,860 | |
Mascot Properties, Inc. (A Development Stage Company) Statement of Stockholders' Equity
Mascot Properties, Inc. (A Development Stage Company) - Statements of Cash Flows
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Mascot Properties, Inc. (A Development Stage Company) - Statements of Cash Flows (USD $)
|
12 Months Ended | 35 Months Ended | |
|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
|
| OPERATING ACTIVITIES | |||
| Net Income (loss) | $ (26,060) | $ (21,254) | $ (110,817) |
| Adjustment to reconcile net loss to net cash used by operating activities: | |||
| Increase in Accounts Payable and Accrued Expenses | 2,253 | 2,000 | 7,753 |
| Net cash used in operating activities | (23,807) | (19,254) | (103,064) |
| Net cash used in investing activities | 0 | 0 | 0 |
| FINANCING ACTIVITIES | |||
| Proceeds from Notes Payable - Related Parties | 23,875 | 18,550 | 42,425 |
| Common stock issued for cash | 0 | 0 | 60,720 |
| Net Cash Provided by Financing Activities | 23,875 | 18,550 | 103,145 |
| Net Increase (Decrease) in Cash | 68 | (704) | 81 |
| Cash Balance at beginning of period | 13 | 717 | 0 |
| Cash Balance at end of period | 81 | 13 | 81 |
| Supplemental Disclosures of Cash Flow Information - Cash Paid For: | |||
| Interest | 0 | 0 | 0 |
| Income Taxes | $ 0 | $ 0 | $ 0 |
1. Summary of Significant Accounting Policies
|
1. Summary of Significant Accounting Policies
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Jun. 30, 2012
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| 1. Summary of Significant Accounting Policies: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1. Summary of Significant Accounting Policies | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Business The financial statements presented are those of Mascot Properties, Inc. The Company was originally incorporated under the laws of the state of Nevada on July 22, 2009.
The Company has not commenced significant operations and, in accordance with ASC Topic 915, is considered a development stage company. Mascot Properties, Inc. operates in the management of real estate properties, primarily related to student housing and services near universities.
Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Dividends The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.
Revenue Recognition Revenue is recognized in accordance with the criteria established in the accounting literature regarding recognition of revenues, specifically, FASB Accounting Standards Codification topic 605, “Revenue Recognition”. Revenues and related expenses from rendering property management services are recognized when services are completed and billed. In some situations, we may receive advance payments from our customers. The Company will defer revenue associated with these advance payments until it has completed the contracted services.
Property The Company does not own or rent any property. Office space is provided by the Company's president at no charge.
Advertising Costs The Company’s policy regarding advertising is to expense advertising when incurred. Advertising expense for the year ended June 30, 2012, and June 30, 2011 was $0 and $0.
Cash and Cash Equivalents For purposes of the Statement of Cash Flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. As at June 30, 2012, and June 30, 2011 the Company had no cash equivalents.
Basic (Loss) per Common Share Basic (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of June 30, 2012 and 2011.
Income Taxes The Company provides for income taxes under ASC 740 “Accounting for Income Taxes”. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.
ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.
The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 39% to net loss before provision for income taxes for the following reasons:
Net deferred tax assets consist of the following components as of:
The Company’s net operating losses are schedule to expire between 2029 and 2032.
Impairment of Long-Lived Assets The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell.
Accounting Basis The basis is accounting principles generally accepted in the United States of America. The Company has adopted a June 30th year end.
Stock-based compensation As of June 30, 2012, and June 30, 2011 the Company has not issued any share-based payments.
The Company records stock-based compensation in accordance with ASC 718 using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued.
Recent Accounting Pronouncements
The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statements. |
2. Going Concern
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2. Going Concern
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| 2. Going Concern: | |
| 2. Going Concern | 2. GOING CONCERN
These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the year ended June 30, 2012, the Company recognized no sales revenue and incurred a net loss of $(26,060). As of June 30, 2012, the Company had an accumulated deficit of $110,817. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's future business. Additionally the Company is actively seeking merger partners and strategic alliances in order to accelerate its growth in the industry. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
3 Stockholders' Equity
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3 Stockholders' Equity
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| 3 Stockholders' Equity: | |
| 3 Stockholders' Equity | 3 STOCKHOLDERS’ EQUITY
The stockholders' equity section of the Company contains the following classes of Capital stock as of June 30, 2012, and June 30, 2011 respectively: · Preferred Stock, $0.00001 par value, 20,000,000 shares authorized0and 0 shares issued and outstanding. · Common Stock, $0.00001 par value, 250,000,000 shares authorized 104,208,000 and 104,208,000 shares issued and outstanding.
COMMON STOCK
· On July 22, 2009, the Company entered into an agreement with one of its founders for the sale of 80,000,000 shares of common stock at a price of $0.0000025 per share. The Company realized $200 from this subscription. · On August 27, 2009, we entered into an agreement with two different investors for the sale of 24,000,000 shares of common stock at a price of $0.0025 per share. The Company realized $60,000 from these subscriptions. · On June 30, 2010, the Company entered into an agreement for the sale of 208,000 shares at a price of $0.0025 per share to 38 different investors. The Company realized $520 from these subscriptions. · The company's board of directors authorized a four-for-one stock split effective on June 30, 2010. Each shareholder of record on June 30, 2010 received three additional shares of common stock for each share held on that date. All share and related information presented in these financial statements and accompanying footnotes reflect the increased number of shares resulting from this action. |
4 Related Party Transaction
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4 Related Party Transaction
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| 4 Related Party Transaction: | |
| 4 Related Party Transaction | 4 RELATED PARTY TRANSACTION
Consulting Services – Related Party The Company’s founder and majority shareholders provide various consulting services to the Company for which they are compensated. For the year ended June 30, 2012, and June 30, 2011 consultant fees paid were $0 and $1,000
Note Payable – Related Party For the years ended June 30, 2012 and 2011, the Company received $23,875 and $18,550 respectively, as loans from related parties that provide consulting services to the Company for operating expenses. The notes have no definitive payment terms and bear no interest. The Company will pay the balance off when it has the available funds. |
5 Commitments and Contingencies
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5 Commitments and Contingencies
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| 5 Commitments and Contingencies: | |
| 5 Commitments and Contingencies | 5 COMMITMENTS AND CONTINGENCIES Commitments On April 1, 2011, the Company and its majority shareholder and President entered into an employment agreement. The agreement calls for an annual salary of $85,000 as well as benefits including vacation and health insurance. The agreement includes a revenue milestone of $300,000 that must be reached before the payment or accrual of any salaries or benefits. The agreement is not expected to have a material adverse effect on the Company’s financial condition. |
6 Subsequent Events
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6 Subsequent Events
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| 6 Subsequent Events: | |
| 6 Subsequent Events | 6 SUBSEQUENT EVENTS
Management has evaluated all activity since June 30, 2012, through the date the financial statements were issued and has concluded that no subsequent events have occurred that would require recognition in the Financial Statements or disclosure in the Notes to the Financial Statements. |
1. Summary of Significant Accounting Policies: Nature of Business (Policies)
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1. Summary of Significant Accounting Policies: Nature of Business (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Nature of Business: | |
| Nature of Business | Nature of Business The financial statements presented are those of Mascot Properties, Inc. The Company was originally incorporated under the laws of the state of Nevada on July 22, 2009.
The Company has not commenced significant operations and, in accordance with ASC Topic 915, is considered a development stage company. Mascot Properties, Inc. operates in the management of real estate properties, primarily related to student housing and services near universities. |
1. Summary of Significant Accounting Policies: Use of Estimates (Policies)
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1. Summary of Significant Accounting Policies: Use of Estimates (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Use of Estimates: | |
| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
1. Summary of Significant Accounting Policies: Dividends (Policies)
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1. Summary of Significant Accounting Policies: Dividends (Policies)
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Dividends: | |
| Dividends | Dividends The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown. |
1. Summary of Significant Accounting Policies: Revenue Recognition (Policies)
|
1. Summary of Significant Accounting Policies: Revenue Recognition (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Revenue Recognition: | |
| Revenue Recognition | Revenue Recognition Revenue is recognized in accordance with the criteria established in the accounting literature regarding recognition of revenues, specifically, FASB Accounting Standards Codification topic 605, “Revenue Recognition”. Revenues and related expenses from rendering property management services are recognized when services are completed and billed. In some situations, we may receive advance payments from our customers. The Company will defer revenue associated with these advance payments until it has completed the contracted services. |
1. Summary of Significant Accounting Policies: Property (Policies)
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1. Summary of Significant Accounting Policies: Property (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
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| Property: | |
| Property | Property The Company does not own or rent any property. Office space is provided by the Company's president at no charge. |
1. Summary of Significant Accounting Policies: Advertising Costs (Policies)
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1. Summary of Significant Accounting Policies: Advertising Costs (Policies)
|
12 Months Ended |
|---|---|
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Jun. 30, 2012
|
|
| Advertising Costs: | |
| Advertising Costs | Advertising Costs The Company’s policy regarding advertising is to expense advertising when incurred. Advertising expense for the year ended June 30, 2012, and June 30, 2011 was $0 and $0. |
1. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)
|
1. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Cash and Cash Equivalents: | |
| Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the Statement of Cash Flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. As at June 30, 2012, and June 30, 2011 the Company had no cash equivalents. |
1. Summary of Significant Accounting Policies: Basic (loss) Per Common Share (Policies)
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1. Summary of Significant Accounting Policies: Basic (loss) Per Common Share (Policies)
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
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| Basic (loss) Per Common Share: | |
| Basic (loss) Per Common Share | Basic (Loss) per Common Share Basic (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of June 30, 2012 and 2011. |
1. Summary of Significant Accounting Policies: Income Taxes (Policies)
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1. Summary of Significant Accounting Policies: Income Taxes (Policies)
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12 Months Ended |
|---|---|
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Jun. 30, 2012
|
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| Income Taxes: | |
| Income Taxes | Income Taxes The Company provides for income taxes under ASC 740 “Accounting for Income Taxes”. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.
ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. |
1. Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Policies)
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1. Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Policies)
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
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| Impairment of Long-lived Assets: | |
| Impairment of Long-lived Assets | Impairment of Long-Lived Assets The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. |
1. Summary of Significant Accounting Policies: Accounting Basis (Policies)
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1. Summary of Significant Accounting Policies: Accounting Basis (Policies)
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12 Months Ended |
|---|---|
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Jun. 30, 2012
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| Accounting Basis: | |
| Accounting Basis | Accounting Basis The basis is accounting principles generally accepted in the United States of America. The Company has adopted a June 30th year end. |
1. Summary of Significant Accounting Policies: Stock-based Compensation (Policies)
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1. Summary of Significant Accounting Policies: Stock-based Compensation (Policies)
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12 Months Ended |
|---|---|
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Jun. 30, 2012
|
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| Stock-based Compensation: | |
| Stock-based Compensation | Stock-based compensation As of June 30, 2012, and June 30, 2011 the Company has not issued any share-based payments.
The Company records stock-based compensation in accordance with ASC 718 using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued. |
1. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)
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1. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)
|
12 Months Ended |
|---|---|
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Jun. 30, 2012
|
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| Recent Accounting Pronouncements: | |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements
The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statements. |
2. Going Concern: Going Concern (Policies)
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2. Going Concern: Going Concern (Policies)
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Going Concern: | |
| Going Concern | These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the year ended June 30, 2012, the Company recognized no sales revenue and incurred a net loss of $(26,060). As of June 30, 2012, the Company had an accumulated deficit of $110,817. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's future business. Additionally the Company is actively seeking merger partners and strategic alliances in order to accelerate its growth in the industry. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
3 Stockholders' Equity: Stockholders' Equity Policy (Policies)
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3 Stockholders' Equity: Stockholders' Equity Policy (Policies)
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Stockholders' Equity Policy: | |
| Stockholders' Equity Policy | The stockholders' equity section of the Company contains the following classes of Capital stock as of June 30, 2012, and June 30, 2011 respectively: · Preferred Stock, $0.00001 par value, 20,000,000 shares authorized0and 0 shares issued and outstanding. · Common Stock, $0.00001 par value, 250,000,000 shares authorized 104,208,000 and 104,208,000 shares issued and outstanding.
COMMON STOCK
· On July 22, 2009, the Company entered into an agreement with one of its founders for the sale of 80,000,000 shares of common stock at a price of $0.0000025 per share. The Company realized $200 from this subscription. · On August 27, 2009, we entered into an agreement with two different investors for the sale of 24,000,000 shares of common stock at a price of $0.0025 per share. The Company realized $60,000 from these subscriptions. · On June 30, 2010, the Company entered into an agreement for the sale of 208,000 shares at a price of $0.0025 per share to 38 different investors. The Company realized $520 from these subscriptions. · The company's board of directors authorized a four-for-one stock split effective on June 30, 2010. Each shareholder of record on June 30, 2010 received three additional shares of common stock for each share held on that date. All share and related information presented in these financial statements and accompanying footnotes reflect the increased number of shares resulting from this action. |
4 Related Party Transaction: Consulting Services - Related Party (Policies)
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4 Related Party Transaction: Consulting Services - Related Party (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Consulting Services - Related Party: | |
| Consulting Services - Related Party | Consulting Services – Related Party The Company’s founder and majority shareholders provide various consulting services to the Company for which they are compensated. For the year ended June 30, 2012, and June 30, 2011 consultant fees paid were $0 and $1,000 |
4 Related Party Transaction: Note Payable - Related Party (Policies)
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4 Related Party Transaction: Note Payable - Related Party (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Note Payable - Related Party: | |
| Note Payable - Related Party | Note Payable – Related Party For the years ended June 30, 2012 and 2011, the Company received $23,875 and $18,550 respectively, as loans from related parties that provide consulting services to the Company for operating expenses. The notes have no definitive payment terms and bear no interest. The Company will pay the balance off when it has the available funds. |
5 Commitments and Contingencies: Commitments (Policies)
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5 Commitments and Contingencies: Commitments (Policies)
|
12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Commitments: | |
| Commitments | Commitments On April 1, 2011, the Company and its majority shareholder and President entered into an employment agreement. The agreement calls for an annual salary of $85,000 as well as benefits including vacation and health insurance. The agreement includes a revenue milestone of $300,000 that must be reached before the payment or accrual of any salaries or benefits. The agreement is not expected to have a material adverse effect on the Company’s financial condition. |
6 Subsequent Events: Subsequent Events (Policies)
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6 Subsequent Events: Subsequent Events (Policies)
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12 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Subsequent Events: | |
| Subsequent Events | Management has evaluated all activity since June 30, 2012, through the date the financial statements were issued and has concluded that no subsequent events have occurred that would require recognition in the Financial Statements or disclosure in the Notes to the Financial Statements. |
1. Summary of Significant Accounting Policies: Earnings per common share table (Tables)
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1. Summary of Significant Accounting Policies: Earnings per common share table (Tables)
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12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Jun. 30, 2012
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| Earnings per common share table: | |||||||||||||||||
| Earnings per common share table |
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1. Summary of Significant Accounting Policies: Income tax provisions (Tables)
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1. Summary of Significant Accounting Policies: Income tax provisions (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Jun. 30, 2012
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| Income tax provisions: | |||||||||||||||||||||||||||||||||||||
| Income tax provisions | The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 39% to net loss before provision for income taxes for the following reasons:
Net deferred tax assets consist of the following components as of:
The Company’s net operating losses are schedule to expire between 2029 and 2032. |
1. Summary of Significant Accounting Policies: Advertising Costs (Details)
|
1. Summary of Significant Accounting Policies: Advertising Costs (Details) (USD $)
|
12 Months Ended | |
|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
|
| Advertising Expense | $ 0 | $ 0 |
1. Summary of Significant Accounting Policies: Earnings per common share table (Details)
|
1. Summary of Significant Accounting Policies: Earnings per common share table (Details) (USD $)
|
12 Months Ended | |
|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | $ (26,060) | $ (21,254) |
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 104,208,000 | 101,935,860 |
| Income (Loss) from Continuing Operations, Per Basic Share | $ 0.00 | $ 0.00 |
1. Summary of Significant Accounting Policies: Income tax provisions (Details)
|
1. Summary of Significant Accounting Policies: Income tax provisions (Details) (USD $)
|
12 Months Ended | 35 Months Ended | |
|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
|
| Net Income (loss) | $ (26,060) | $ (21,254) | $ (110,817) |
| Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | (10,163) | (8,290) | |
| Deferred Tax Assets, Net of Valuation Allowance | 10,163 | 8,290 | 10,163 |
| Income tax expense | 0 | 0 | 0 |
| Valuation Allowances and Reserves, Period Increase (Decrease) | $ (10,163) | $ (8,290) | |
2. Going Concern: Going Concern (Details)
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2. Going Concern: Going Concern (Details) (USD $)
|
Jun. 30, 2012
|
|---|---|
| Retained Earnings (Accumulated Deficit) | $ 110,817 |
3 Stockholders' Equity: Stockholders' Equity Policy (Details)
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3 Stockholders' Equity: Stockholders' Equity Policy (Details) (USD $)
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Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Aug. 27, 2009
|
Jul. 22, 2009
|
|---|---|---|---|---|---|
| Preferred Stock, Shares Issued | 0 | 0 | |||
| Common Stock, Shares, Issued | 104,208,000 | 104,208,000 | 208,000 | 24,000,000 | 80,000,000 |
| Common Stock, Par or Stated Value Per Share | $ 0.0025 | $ 0.0025 | $ 0.0000025 | ||
| Common Stock, Value, Subscriptions | $ 520 | $ 60,000 | $ 200 |
4 Related Party Transaction: Consulting Services - Related Party (Details)
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4 Related Party Transaction: Consulting Services - Related Party (Details) (USD $)
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Jun. 30, 2012
|
Jun. 30, 2011
|
|---|---|---|
| Accrued Professional Fees | $ 0 | $ 1,000 |
4 Related Party Transaction: Note Payable - Related Party (Details)
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4 Related Party Transaction: Note Payable - Related Party (Details) (USD $)
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Jun. 30, 2012
|
Jun. 30, 2011
|
|---|---|---|
| Notes Payable, Related Parties, Current | $ 23,875 | $ 18,550 |