NOTE 2. SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation - Development
The Company has not earned any
revenue from operations. Accordingly, the Company’s activities have been accounted for as those of a “Development Stage
Company” as set forth in Financial Accounting Standards Board ASC 915. Among the disclosures required by ASC 915 are that
the Company’s financial statements be identified as those of a development stage company, and that the statements of operations,
stockholders’ equity and cash flows disclose activity since the date of the Company’s inception.
The Company’s financial
statements are prepared using the accrual method of accounting. The Company has elected a fiscal year ending on December 31.
Use of 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. In the opinion of management, all adjustments
necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.
The Company considers all highly
liquid investments with maturity of three months or less when purchased to be cash equivalents.
Income taxes are provided in
accordance with Statement of Financial Accounting Standards ASC 740 Accounting for Income Taxes. A deferred tax asset or liability
is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax
expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced
by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred
tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates
on the date of enactment. There were no current or deferred Income tax expenses or benefits due to the Company not having any material
operations for period ended December 31, 2013.
Basic Earnings (Loss) per
In February 1997, the FASB issued
ASC 260, “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings
(loss) per share for entities with publicly held common stock. ASC 260 supersedes the provisions of APB No. 15, and requires the
presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of
ASC 260 effective (inception).
Basic net loss per share amounts
is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share
are the same as basic earnings per share due to the lack of dilutive items in the Company.
Impact of New Accounting Standards
The Company does not expect
the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations,
financial position, or cash flow.