CORINDUS VASCULAR ROBOTICS, INC., 10-Q filed on 7/18/2014
Quarterly Report
Document and Entity Information
3 Months Ended
Jun. 30, 2014
Jul. 17, 2014
Document And Entity Information
 
 
Entity Registrant Name
YOUR INTERNET DEFENDER, INC. 
 
Entity Central Index Key
0001528557 
 
Document Type
10-Q 
 
Document Period End Date
Jun. 30, 2014 
 
Amendment Flag
false 
 
Current Fiscal Year End Date
--03-31 
 
Is Entity a Well-known Seasoned Issuer?
No 
 
Is Entity a Voluntary Filer?
Yes 
 
Is Entity's Reporting Status Current?
Yes 
 
Entity Filer Category
Smaller Reporting Company 
 
Entity Common Stock, Shares Outstanding
 
52,000,000 
Document Fiscal Period Focus
Q1 
 
Document Fiscal Year Focus
2015 
 
Balance Sheets (Unaudited) (USD $)
Jun. 30, 2014
Mar. 31, 2014
Current Assets:
 
 
Cash
$ 369 
$ 87 
Cash held in escrow
248,832 
 
Accounts receivable
2,550 
700 
Total current assets
251,751 
787 
Other Assets:
 
 
Website development costs, net of amortization of $26,149 and $23,903, respectively
801 
3,047 
Security deposit
   
325 
Total other assets
801 
3,372 
Total assets
252,552 
4,159 
Current Liabilities:
 
 
Accounts payable
39,895 
20,045 
Notes payable
46,800 
46,800 
Notes payable-related party
342,014 
97,398 
Advances-related party
19,652 
 
Accrued consulting expense-related party
228,000 
192,000 
Other accrued expenses
9,194 
19,457 
Total current liabilities
685,555 
375,700 
Commitments and Contingencies
   
   
Stockholders' Deficit:
 
 
Preferred stock - $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
   
 
Common stock - $0.0001 par value; 150,000,000 shares authorized; 52,000,000 shares issued and outstanding
5,200 
5,200 
Additional paid in capital
135,040 
132,440 
Accumulated deficit
(573,243)
(509,181)
Total stockholders' deficit
(433,003)
(371,541)
Total liabilities and stockholders' deficit
$ 252,552 
$ 4,159 
Balance Sheets (Unaudited) (Parenthetical) (USD $)
Jun. 30, 2014
Mar. 31, 2014
Statement of Financial Position [Abstract]
 
 
Accumulated amortization of website costs
$ 26,149 
$ 23,903 
Preferred stock, par value
$ 0.0001 
$ 0.0001 
Preferred stock, authorized
1,000,000 
1,000,000 
Preferred stock, issued
Preferred stock, outstanding
Common stock, par value
$ 0.0001 
$ 0.0001 
Common stock, authorized
150,000,000 
150,000,000 
Common stock, issued
52,000,000 
52,000,000 
Common stock, outstanding
52,000,000 
52,000,000 
Statements of Operations (Unaudited) (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Income Statement [Abstract]
 
 
Revenues, net
$ 4,113 
$ 9,077 
Cost of revenues
4,748 
28,385 
Gross Margin
(635)
(19,308)
Operating expenses:
 
 
Compensation expense
2,600 
2,600 
General and administrative
58,323 
79,311 
Total operating expenses
60,923 
81,911 
Loss from operations
(61,558)
(101,219)
Other (income) expense:
 
 
Interest expense
2,504 
512 
Loss before income tax provision
(64,062)
(101,731)
Net loss
$ (64,062)
$ (101,731)
Loss per common share - basic and diluted
$ 0.00 
$ 0.00 
Weighted average number of shares outstanding
52,000,000 
52,000,000 
Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
Net loss
$ (64,062)
$ (101,731)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
 
 
Amortization of website development costs
2,246 
2,246 
In-kind compensation
2,600 
2,600 
Changes in operating assets and liabilities:
 
 
Accounts receivable
(1,850)
39,331 
Prepaid expenses
   
312 
Security deposit
325 
   
Bank overdraft
   
(3,555)
Accounts payable
19,850 
   
Accrued consulting expense-related party
36,000 
36,000 
Other accrued expenses
(10,263)
(4,503)
Net cash used in operating activities
(15,154)
(29,300)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
Proceeds from loans and advances from related party
264,268 
29,300 
Net cash provided by financing activities
264,268 
29,300 
Increase in cash
249,114 
   
Cash, beginning of period
87 
 
Cash, end of period
$ 249,201 
 
ORGANIZATION AND OPERATIONS
ORGANIZATION AND OPERATIONS

NOTE 1 – ORGANIZATION AND OPERATIONS

 

The Company

 

Your Internet Defender Inc. ("Your Internet Defender", the "Company", "we", "us" or "our") was incorporated on May 4, 2011 under the laws of the State of Nevada. The Company originally intended to engage in online brand management, focusing on offsite search engine optimization (SEO), social media reputation monitoring, and specialized brand reputation marketing. The Company intend to develop a full range of services, proprietary methodology and systems that will assist companies, professionals and individuals to protect and promote their brands in the most favorable manner, while attracting traffic to their desired web locations.

 

Change in Control

 

On June 30, 2014, Susan Coyne entered into private transactions with and executed stock purchase agreements with Lisa Grossman and Gabriel Solomon, our former officer and directors on the date thereof, and other unaffiliated shareholders, pursuant to which she purchased an aggregate of 31,119,300 shares of our common stock, representing 59.8% of the 52,000,000 issued and outstanding shares on that date. Other than as specifically mentioned herein, there are no arrangements or understandings among members of the former and new control groups and their associates with respect to election of directors or other matters.

 

Change in Officers and Director

 

In conjunction with the change of control mentioned hereinabove, Leah Hein was appointed as our sole officer and director and we accepted the resignations of Lisa Grossman (as President and director) and Gabriel Solomon (as Secretary, Treasurer and director). Lisa Grossman agreed to continue her employment with us as an employee.

BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

NOTE 2 – BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

 

Interim Financial Statements

 

The accompanying unaudited interim condensed financial statements of Your Internet Defender Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (the "SEC"). The balance sheet at March 31, 2014 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. The accompanying condensed financial statements should be read in conjunction with the audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended March 31, 2014 as filed with the SEC on June 30, 2014.

  

Fair Value of Financial Instruments

 

The carrying amount of the Company's accounts receivable, accounts payable and accrued expenses approximate fair value due to the relatively short period to maturity for these instruments.

 

Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.

 

Earnings (Loss) Per Share

 

We calculate earnings (loss) per share ("EPS") in accordance with GAAP, which requires the computation and disclosure of two EPS amounts, basic and diluted. Basic EPS is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of common shares outstanding plus all potentially dilutive common shares outstanding during the period under the treasury stock method. Such potential dilutive common shares consist of stock options, warrants and convertible debt. There were no potentially outstanding dilutive shares for the reporting periods ended June 30, 2014 or 2013.

 

Recently Issued and Newly Adopted Accounting Pronouncements

 

In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in this Update change the requirements for reporting discontinued operations in Subtopic 205-20. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and "represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results." The ASU states that a strategic shift could include a disposal of (i) a major geographical area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity. Although "major" is not defined, the standard provides examples of when a disposal qualifies as a discontinued operation. The ASU also requires additional disclosures about discontinued operations that will provide more information about the assets, liabilities, income and expenses of discontinued operations. In addition, the ASU requires disclosure of the pre-tax profit or loss attributable to a disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements. The ASU is effective for public business entities for annual periods beginning on or after December 15, 2014, and interim periods within those years.

 

In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The amendments in this Update remove the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage that in prior years it had been in the development stage.

  

The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties, is applicable to entities that have not commenced planned principal operations. Finally, the amendments remove paragraph 810-10-15-16. Paragraph 810-10-15-16 states that a development stage entity does not meet the condition in paragraph 810-10-15-14(a) to be a variable interest entity if (1) the entity can demonstrate that the equity invested in the legal entity is sufficient to permit it to finance the activities that it is currently engaged in and (2) the entity’s governing documents and contractual arrangements allow additional equity investments. The amendments in this Update also eliminate an exception provided to development stage entities in Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The amendments to eliminate that exception simplify GAAP by reducing avoidable complexity in existing accounting literature and improve the relevance of information provided to financial statement users by requiring the application of the same consolidation guidance by all reporting entities. The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively. For public business entities, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915.

 

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

 

Reclassifications

 

Certain March 31, 2014 amounts and amounts for the three month period ended June 30, 2013 have been reclassified to conform to the current period presentation.

GOING CONCERN
GOING CONCERN

NOTE 3 – GOING CONCERN

 

The financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company had deficit accumulated at June 30, 2014, a net loss and net cash used in operating activities for the interim period then ended. These factors raise substantial doubt about its ability to continue as a going concern.

 

While the Company is attempting to commence operations and produce sufficient sales, the Company’s cash position may not be sufficient to support the Company’s daily operations. While the Company believes in the viability of its strategy to commence operations and produce sales volume and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTES PAYABLE
NOTES PAYABLE

NOTE 4 – NOTES PAYABLE

 

Notes payable consist of the following:

   June 30,
2014
  March 31,
2014

Note payable, issued November 9, 2012, interest at 3% per

annum, principal and interest due on demand

  $27,000   $27,000 
           

Note payable, issued January 13, 2013, interest at 3% per

annum, principal and interest due on demand

   4,500    4,500 
           

Note payable, issued March 13, 2013, interest at 3% per

annum, principal and interest due on demand

   10,000    10,000 
           

Note payable, issued March 27, 2013, interest at 3% per

annum, principal and interest due on demand

   2,000    2,000 
           

Note payable, issued June 5, 2013, interest at 3% per

annum, principal and interest due on demand

   3,300    3,300 
           
Notes payable  $46,800   $46,800 

 

On July 7, 2014, all notes payable and accrued interest thereto were paid in full.

RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

 

Notes Payable

 

Notes payable with Lisa Grossman, the former President of the Company and stockholder consist of the following:

 

   June 30,
2014
  March 31,
2014
Note payable, issued April 17 2013, interest at 3% per annum, principal and interest due on demand  $13,000   $13,000 
           
Notes payable, issued between May 6 2013 and March 10, 2014, interest at 10% per annum, principal and interest due on demand   80,182    80,182 
           
Note payable, issued June 30, 2014, interest at 2% per annum, principal and interest due on demand   248,832    —   
           
Notes payable—related party  $342,014   $93,182 

 

On July 7, 2014, the notes payable and accrued interest thereto dated April 17, 2013 and May 6, 2013 were paid in full.

  

Advances

 

During the three months ended June 30, 2014, Mrs. Grossman made advances of $19,652 to the Company for working capital purposes. These advances were unsecured, non-interest bearing and due on demand. On July 7, 2014, the advances of $19,652 were paid in full.

 

Consulting Agreement

 

On July 30, 2012, the Company executed a four-year Consulting Agreement for $12,000 per month with Yitz Grossman, husband of Mrs. Grossman, commencing upon the earlier of (i) the consummation by the Company of equity financings (including financings with an equity component) resulting in gross proceeds to the Company of no less than $500,000 or (ii) September 1, 2012. The agreement calls for an automatic renewal for an additional three years if the Company has raised in total a minimum of two million in gross capital from any and all sources. On October 1, 2012, the agreement was modified whereby the compensation under the consulting agreement was waived for the period from October through December 2012.

 

Consulting expenses recognized for the reporting period ended June 30, 2014 and 2013 totaled $36,000 and $36,000, respectively.

 

On July 2, 2014, we entered into a Debt Settlement Agreement with Mr. Grossman pursuant to which, on July 7, 2014, we paid Mr. Grossman $40,108 and he forgave the remaining balance of $187,892. In connection therewith, Mr. Grossman also agreed to terminate the Consulting Agreement.

STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT

NOTE 6 – STOCKHOLDERS’ DEFICIT

 

Preferred Stock

 

At June 30, 2014 and March 31, 2014, we had 1,000,000 shares of Preferred Stock, $0.0001 par value, authorized with zero shares issued and outstanding.

 

Common Stock

 

At June 30, 2014 and March 31, 2014, we had 150,000,000 shares of Common Stock, $0.0001 par value, authorized with 52,000,000 shares issued and outstanding.

 

In-Kind Contribution

 

For the interim reporting periods ended June 30, 2014 and 2013, two shareholders of the Company contributed services having a fair value of $2,600.

SUBSEQUENT EVENTS
SUBSEQUENT EVENTS

NOTE 7 – SUBSEQUENT EVENTS

 

Termination of Consulting Agreement

 

On July 30, 2012, we entered into a four-year Consulting Agreement with Yitz Grossman under which we agreed to pay him $12,000 per month for his services. As of July 2, 2014, we owed $288,000 to Mr. Grossman thereunder. On July 2, 2014, we entered into a Debt Settlement Agreement with Mr. Grossman pursuant to which, on July 7, 2014, we paid him $40,108 and he forgave the remaining balance of $187,892. In connection therewith, Mr. Grossman also agreed to terminate the Consulting Agreement. Mr. Grossman is the husband of Mrs. Grossman, our former President.

BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)

Interim Financial Statements

 

The accompanying unaudited interim condensed financial statements of Your Internet Defender Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (the "SEC"). The balance sheet at March 31, 2014 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. The accompanying condensed financial statements should be read in conjunction with the audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended March 31, 2014 as filed with the SEC on June 30, 2014.

Fair Value of Financial Instruments

 

The carrying amount of the Company's accounts receivable, accounts payable and accrued expenses approximate fair value due to the relatively short period to maturity for these instruments.

 

Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.

 

Earnings (Loss) Per Share

 

We calculate earnings (loss) per share ("EPS") in accordance with GAAP, which requires the computation and disclosure of two EPS amounts, basic and diluted. Basic EPS is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of common shares outstanding plus all potentially dilutive common shares outstanding during the period under the treasury stock method. Such potential dilutive common shares consist of stock options, warrants and convertible debt. There were no potentially outstanding dilutive shares for the reporting periods ended June 30, 2014 or 2013.

Recently Issued and Newly Adopted Accounting Pronouncements

 

In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in this Update change the requirements for reporting discontinued operations in Subtopic 205-20. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and "represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results." The ASU states that a strategic shift could include a disposal of (i) a major geographical area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity. Although "major" is not defined, the standard provides examples of when a disposal qualifies as a discontinued operation. The ASU also requires additional disclosures about discontinued operations that will provide more information about the assets, liabilities, income and expenses of discontinued operations. In addition, the ASU requires disclosure of the pre-tax profit or loss attributable to a disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements. The ASU is effective for public business entities for annual periods beginning on or after December 15, 2014, and interim periods within those years.

 

In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The amendments in this Update remove the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage that in prior years it had been in the development stage.

 

The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties, is applicable to entities that have not commenced planned principal operations. Finally, the amendments remove paragraph 810-10-15-16. Paragraph 810-10-15-16 states that a development stage entity does not meet the condition in paragraph 810-10-15-14(a) to be a variable interest entity if (1) the entity can demonstrate that the equity invested in the legal entity is sufficient to permit it to finance the activities that it is currently engaged in and (2) the entity’s governing documents and contractual arrangements allow additional equity investments. The amendments in this Update also eliminate an exception provided to development stage entities in Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The amendments to eliminate that exception simplify GAAP by reducing avoidable complexity in existing accounting literature and improve the relevance of information provided to financial statement users by requiring the application of the same consolidation guidance by all reporting entities. The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively. For public business entities, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915.

 

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

 

Reclassifications

 

Certain March 31, 2014 amounts and amounts for the three month period ended June 30, 2013 have been reclassified to conform to the current period presentation.

NOTES PAYABLE (Tables)
Schedule of notes payable

Notes payable consist of the following:

   June 30,
2014
  March 31,
2014

Note payable, issued November 9, 2012, interest at 3% per

annum, principal and interest due on demand

  $27,000   $27,000 
           

Note payable, issued January 13, 2013, interest at 3% per

annum, principal and interest due on demand

   4,500    4,500 
           

Note payable, issued March 13, 2013, interest at 3% per

annum, principal and interest due on demand

   10,000    10,000 
           

Note payable, issued March 27, 2013, interest at 3% per

annum, principal and interest due on demand

   2,000    2,000 
           

Note payable, issued June 5, 2013, interest at 3% per

annum, principal and interest due on demand

   3,300    3,300 
           
Notes payable  $46,800   $46,800 
RELATED PARTY TRANSACTIONS (Tables)
Schedule of notes payable with former President of the Company and stockholder

Notes payable with Lisa Grossman, the former President of the Company and stockholder consist of the following:

 

   June 30,
2014
  March 31,
2014
Note payable, issued April 17 2013, interest at 3% per annum, principal and interest due on demand  $13,000   $13,000 
           
Notes payable, issued between May 6 2013 and March 10, 2014, interest at 10% per annum, principal and interest due on demand   80,182    80,182 
           
Note payable, issued June 30, 2014, interest at 2% per annum, principal and interest due on demand   248,832    —   
           
Notes payable—related party  $342,014   $93,182 
ORGANIZATION AND OPERATIONS (Details Narrative) (Change in Control - Former Officers and Directors)
0 Months Ended
Jun. 20, 2014
Change in Control - Former Officers and Directors
 
Purchase of stock from executed stock purchase agreements by an individual, shares
31,119,300 
Ownership interest after purchase of Company's stock by an individual
59.80% 
NOTES PAYABLE (Details) (USD $)
Jun. 30, 2014
Mar. 31, 2014
Notes payable
$ 46,800 
$ 46,800 
Note payable, issued November 9, 2012 [Member]
 
 
Notes payable
27,000 
27,000 
Interest rate of note payable
3.00% 
 
Note payable, issued January 13, 2013 [Member]
 
 
Notes payable
4,500 
4,500 
Interest rate of note payable
3.00% 
 
Note payable, issued March 13, 2013 [Member]
 
 
Notes payable
10,000 
10,000 
Interest rate of note payable
3.00% 
 
Note payable, issued March 27, 2013 [Member]
 
 
Notes payable
2,000 
2,000 
Interest rate of note payable
3.00% 
 
Note payable, issued June 5, 2013 [Member]
 
 
Notes payable
$ 3,000 
$ 3,300 
Interest rate of note payable
3.00% 
 
RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)
0 Months Ended 3 Months Ended 0 Months Ended
Jul. 7, 2014
Jun. 30, 2014
Jun. 30, 2013
Jul. 2, 2014
Debt Settlement Agreement [Member]
Jul. 30, 2012
Consulting Agreement[Member]
Repayment for advance to former president
$ 19,652 
 
 
 
 
Proceeds from advances from former president
 
19,652 
 
 
 
Payment to related party
 
 
 
40,108 
 
Consulting agreement, per month expense
 
 
 
 
12,000 
Gross proceeds from equity financing, commencement of aggreement
 
 
 
 
500,000 
Term of the consulting agreement
 
 
 
 
4 years 
Forgiveness of debt
 
 
 
187,892 
 
Consulting expense
 
$ 36,000 
$ 36,000 
 
 
RELATED PARTY TRANSACTIONS (Details) (USD $)
Jun. 30, 2014
Mar. 31, 2014
Note payable - related party
$ 342,014 
$ 93,182 
Note payable to former President of the Company, issued on April 17, 2013 [Member]
 
 
Note payable - related party
13,000 
13,000 
Interest rate of note payable
3.00% 
 
Note payable to former President of the Company, issued between May 6, 2013 and March 10, 2014 [Member]
 
 
Note payable - related party
80,182 
80,182 
Interest rate of note payable
10.00% 
 
Note payable to former President of the Company, issued on June 30, 2014 [Member]
 
 
Note payable - related party
$ 248,832 
 
Interest rate of note payable
2.00% 
 
STOCKHOLDERS' DEFICIT (Details Narrative) (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Stockholders' Equity Note [Abstract]
 
 
Fair value of contributed services
$ 2,600 
$ 2,600 
SUBSEQUENT EVENTS (Details Narrative) (Debt Settlement Agreement [Member], USD $)
Jul. 2, 2014
Debt Settlement Agreement [Member]
 
Related party payable
$ 288,000