Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
|12 Months Ended
Sep. 30, 2012
|Note 1 - Summary Of Significant Accounting Policies Policies
|Nature of Operations
of Operations - The Companys subsidiary, AquaLiv, Inc., is a life sciences research and development company based in Seattle,
Washington. The Companys technology taps into a previously undiscovered natural phenomenon that gives us significant competitive
advantages in the industries of agriculture and medicine. This technology represents an entirely new way to affect the health and
behavior of plants and animals, including human beings. . The Companys wholly-owned subsidiary, Focus Systems, provides
remote desktop and cloud computing solutions to small businesses. Additionally, Focus provides Voice over Internet Protocol
(VoIP) phone solutions to small businesses and can deliver the service to households as well. The Company has
not paid any dividends and any dividends that may be paid in the future will depend upon the financial requirements of the Company
and other relevant factors.
|Use of Estimates
of Estimates - The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires
management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results
could differ from those estimates.
|Cash and Cash Equivalents
Cash and Cash Equivalents - The Company considers all highly-liquid debt investments
purchased with a maturity of three months or less to be cash equivalents.
Receivable - The Company records accounts receivable at cost less allowance for doubtful accounts. The Company estimates allowances
for doubtful accounts based on the aged receivable balances and historical losses. Management has estimated that $0
is necessary for doubtful accounts after reviewing the accounts receivable at September 30, 2012.
|Property and Equipment
and Equipment - The Company records property and equipment at cost and uses straight-line depreciation methods over three to ten
years. Maintenance, repairs, and expenditures for renewals and betterments not determined to extend the useful lives or to materially
increase the productivity of the assets are expensed as incurred. Other renewals and betterments are capitalized.
Property and Equipment is that of our subsidiaries, AquaLiv, Inc. and Focus Systems, Inc., which we have been recorded at actual
cost and estimated net book value, less depreciation, which was recorded under Other Expenses on our Consolidated Statements of
Recognition - The Company's revenue is derived through its subsidiaries. AquaLiv, Inc.s revenue come primarily from the
sales of AquaLiv Water Systems and Infotone Face Mist. The products are sold though the subsidiarys website portal, www.aqualiv.com.
Revenue is derived from AquaLiv, Inc from several smaller purchases ranging from $35 to $1,695. Revenue derived from Focus Systems
comes from several smaller accounts and is billed on a monthly basis. The monthly billing for these accounts range
from $72 to $1,087. IAIs revenue came from royalties derived through licensing its technology to a single customer. The
licensing agreement allowed the customer exclusively to use the subsidiarys technology in aircraft systems manufactured
by the customer in exchange for a royalty fee for each system that includes the Company's technology sold by the customer for
commercial sales . The royalty fee was payable quarterly and amounts to $800 per aircraft system. As of June 22, 2011, royalty
revenue has been discontinued along with the distribution of the IAI assets per the Management and Distribution Agreement.
|Research and Development
Research and Development - The Company expenses
research and development costs as incurred.
taxes - The Company adopts the ASC Topic 740, Income Taxes regarding accounting for uncertainty in income
taxes which prescribes the recognition threshold and measurement attributes for financial statement recognition and measurement
of tax positions taken or expected to be taken on a tax return. In addition, the guidance requires the determination of whether
the benefits of tax positions will be more likely than not sustained upon audit based upon the technical merits of the tax position.
For tax positions that are determined to be more likely than not sustained upon audit, a company recognizes the largest amount
of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. For tax positions
that are not determined to be more likely than not sustained upon audit, a company does not recognize any portion of the benefit
in the financial statements. The guidance provides for de-recognition, classification, penalties and interest, accounting in interim
periods and disclosure.
the years ended September 30, 2012 and 2011, the Company did not have any interest and penalties associated with tax positions.
As of September 30, 2012 and 2011, the Company did not have any significant unrecognized uncertain tax positions.
tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement
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 be applied to taxable income in the years in which those temporary differences are expected
to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of income
in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely
than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is
Comprehensive income - The Company adopted FASB Accounting Standards Codification 220 Comprehensive
Income (formerly SFAS No. 130, Reporting Comprehensive income, which establishes standards for reporting
and display of comprehensive income, and its components in the consolidated financial statements. Components of comprehensive
income include net income and foreign currency translation adjustments. The Company has presented consolidated statements of income
which includes other comprehensive income or loss.
|Fair value of financial instruments
value of financial instruments - The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for
disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification
(Paragraph 820-10-35-37) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes
a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP),
and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and
related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques
used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted)
in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair
value hierarchy defined by Paragraph 820-10-35-37 are described below:
market prices available in active markets for identical assets or liabilities as of the reporting date.|
inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable
as of the reporting date.|
inputs that are generally observable inputs and not corroborated by market data.|
carrying amounts of the Companys financial assets and liabilities, such as cash and cash equivalents, trade accounts and
other receivables, inventories, prepaid expenses, accounts payable, other payables and accrued liabilities, deposits received
in advance, taxes payable, deferred tax liabilities, and short term borrowings approximate their fair values because of the short
maturity of these instruments. The Companys short term borrowings approximate the fair value of such instrument based upon
managements best estimate of interest rates that would be available to the Company for similar financial arrangement at
September 30, 2011 and 2010.
Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently,
the Company did not have any fair value adjustments for assets and liabilities measured at fair value at September 30,
2012 and 2011 , nor gains or losses are reported in the statement of operations that are attributable
to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the
year ended September 30, 2012 and 2011.
|Commitments and contingencies
Commitments and contingencies - Liabilities for loss contingencies arising
from claims, assessments, litigation, fines and penalties and other sources, if applicable, are recorded when it is probable that
a liability has been incurred and the amount of the assessment can be reasonably estimated.
|Off-balance sheet arrangements
sheet arrangements - The Company does not have any off-balance sheet arrangements.
|Recent Accounting Pronouncements
Accounting Pronouncements - The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and
does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its consolidated
financial condition or the consolidated results of its operations.
Value Measurements and Disclosures
January 2010, the Financial Accounting Standards Board (FASB) issued authoritative guidance regarding
fair value measures and disclosures. The guidance requires disclosure of significant transfers between level 1 and level 2
fair value measurements along with the reason for the transfer. An entity must also separately report purchases, sales, issuances
and settlements within the level 3 fair value rollforward. The guidance further provides clarification of the level of disaggregation
to be used within the fair value measurement disclosures for each class of assets and liabilities and clarified the disclosures
required for the valuation techniques and inputs used to measure level 2 or level 3 fair value measurements. This new
authoritative guidance is effective for the Company in fiscal years beginning after December 15, 2010, and for interim periods
within those fiscal years. The adoption of this guidance will not impact the Companys consolidated results of operations
or financial position.
Interest Entities (VIEs)
June 2009, the FASB issued authoritative guidance changing the approach to determine a VIEs primary beneficiary and requiring
ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. This guidance also requires additional disclosures
about a companys involvement with VIEs and any significant changes in risk exposure due to that involvement. This guidance
was adopted January 1, 2010, and did not have an impact on the Companys consolidated financial position, results of operations
or cash flows.
|Basis of presentation
of presentation - The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting
principles generally accepted in the United States of America under the accrual basis of accounting. All intercompany accounts
and transactions have been eliminated.
The Companys inventories (finished goods, work in process, raw materials and packaging materials) are stated at
the lower of cost or market. Cost is determined on a first in first out basis. In addition, the Company estimates net realizable
value based on intended use, current market value and contract terms. The Company writes down the inventories for estimated obsolescence,
slow moving or unmarketable inventories equal to the difference between the cost of inventories and the estimated market value
based upon assumptions about future demand and market conditions.
|Impairment of long-lived assets
of long-lived assets - The Company evaluated the recoverability
of its property, plant, equipment, and other long-lived assets in accordance with FASB Accounting Standards Codification 360 Property,
Plant and Equipment (formerly SFAS 144, Accounting for the Impairment or Disposal of Long-Lived Assets),
which requires recognition of impairment of long-lived assets in the event the net book value of such assets exceed the estimated
future undiscounted cash flows attributable to such assets or the business to which such intangible assets relate. Impairments
of these types of assets were recognized during the years ended September 30, 2011 and 2010.
|Loss per share
per share - The Company reports loss per share in accordance with
FASB Accounting Standards Codification 260 Earnings per Share (formerly SFAS 128, Earnings per Share).
This statement requires dual presentation of basic and diluted earnings (loss) with a reconciliation of the numerator and denominator
of the loss per share computations. Basic earnings per share amounts are based on the weighted average shares of common outstanding.
If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as
options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Accordingly,
this presentation has been adopted for the periods presented. There were no adjustments required to net income for the period
presented in the computation of diluted earnings per share. There were no common stock equivalents (CSE) necessary for the computation
of diluted loss per share.