7. Stockholders' Deficit |
3 Months Ended |
|---|---|
Jun. 30, 2015 | |
| Equity [Abstract] | |
| Stockholders' Deficit |
Shares authorized
Upon formation the total number of shares of all classes of stock which the Company is authorized to issue is seventy-five million (75,000,000) shares of common stock, par value $0.001 per share.
Common stock
On September 30, 2013, the Company sold 4,000,000 shares of its common stock at par to its directors for $4,000 in cash.
During three months ended June 30, 2014, the Company completed the sale of 2,580,000 shares of common stock at $0.0125 per share for total proceeds of $32,250. $3,000 of the proceeds had been received in the prior quarter ended March 31, 2014.
No shares of common stock were issued during the three months ended June 30, 2015.
As of June 30, 2015 and March 31, 2015, the Company had 6,580,000 shares of common stock issued and outstanding.
Additional Paid in Capital
On December 29, 2014, pursuant to the terms of the Stock Purchase Agreements, the former officers and stockholders forgave advances of $26,731 and accrued compensation of $15,400, respectively or $42,131 in aggregate. The gains arising on forgiveness of these liabilities were recorded as contributions to capital and accordingly recognized in additional paid in capital. |