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5. Stockholders' Equity (Deficit)
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9 Months Ended |
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Dec. 31, 2014
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| Equity [Abstract] | |
| Stockholders' Equity (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 the year ended March 31, 2014, the Companys Registration Statement on the Form S-1 filed with the Securities and Exchange Commission was declared effective.
As at March 31, 2014 the Company received $3,000 in common stock subscription funds. The Company completed the sale of 2,580,000 shares of common stock at $0.0125 per share for total proceeds of $32,250 during the nine months ended December 31, 2014.
As at December 31, 2014 we 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. This amount was recorded as contributions to capital and recognized in additional paid in capital. |