2.4.0.8007 - Disclosure - NOTE 2 - SUMMARY OF ACCOUNTING POLICIEStruefalsefalse1falsefalsefalsec2_From1Apr2012To31Mar2013http://www.sec.gov/CIK0001083706duration2012-04-01T00:00:002013-03-31T00:00:001true1us-gaap_AccountingPoliciesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_SignificantAccountingPoliciesTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE
2 - SUMMARY OF ACCOUNTING POLICIES</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash
and cash equivalents</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">Cash
equivalents are highly liquid investments with an original
maturity of three months or less.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Use
of estimates</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">The
preparation of financial statements in conformity with
accounting principles generally accepted in the United States
necessarily requires management to make estimates and
assumptions that affect the amounts reported in the financial
statements. We regularly evaluate estimates and judgments
based on historical experience and other relevant facts and
circumstances. Actual results could differ from those
estimates.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fixed
Assets</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">Fixed
assets are recorded at cost. Depreciation and amortization
are provided using the straight-line method over the useful
lives of the respective assets, typically 3-10 years. Major
additions and betterments are capitalized. Upon retirement or
disposal, the cost and related accumulated depreciation or
amortization is removed from the accounts and any gain or
loss is reflected in operations.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">Depreciation
expenses included in operating expenses for the years ended
March 31, 2013 and 2012 were $2,072 and $3,811,
respectively.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Impairment
of long-lived assets</font> – The Company reviews the
carrying value of its long-lived assets annually or whenever
events or changes in circumstances indicate that the
historical-cost carrying value of an asset may no longer be
appropriate. The Company assesses recoverability of the asset
by comparing the undiscounted future net cash flows expected
to result from the asset to its carrying value. If the
carrying value exceeds the undiscounted future net cash flows
of the asset, an impairment loss is measured and recognized.
An impairment loss is measured as the difference between the
net book value and the fair value of the long-lived asset.
Fair value is estimated based upon either discounted cash
flow analysis or estimated salvage value. As of March 31,
2013, the company recognized $0 impairment expense.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Goodwill
and other intangibles</font> – Goodwill and other
intangibles with indefinite lives are not amortized but are
reviewed for impairment at least annually, or more frequently
if an event or circumstance indicates that an impairment may
have occurred. To test for impairment, the fair value of each
reporting unit is compared to the related net book value,
including goodwill. If the net book value of the reporting
unit exceeds the fair value, an impairment loss is measured
and recognized. An income approach is utilized to estimate
the fair value of each reporting unit. The income approach is
based on the projected debt-free cash flow, which is
discounted to the present value using discount factors that
consider the timing and risk of cash flows.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Licenses</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">The
costs associated with acquiring exclusive licensing rights to
patented technology have been capitalized and are being
charged to expense using the straight line method of
amortization over ten years, the estimated remaining useful
lives of the patents.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock
Based Compensation</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">FASB
ASC 718 requires that measurement of the cost of employee
services received in exchange for an award of equity
instruments be based on the grant-date fair value of the
award. Such costs are recorded over the periods employees are
required to render services in exchange for the
awards.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income
taxes</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">Deferred
tax assets and liabilities are recognized for the estimated
future tax consequences attributable to temporary differences
between the financial statement carrying amounts of existing
assets and liabilities and their respective tax bases. These
assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which the
temporary differences are expected to reverse.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">We
have net operating loss carryforwards available to reduce
future taxable income. Future tax benefits for these net
operating loss carryforwards are recognized to the extent
that realization of these benefits is considered more likely
than not. To the extent that we will not realize a future tax
benefit, a valuation allowance is established.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Basic
and diluted net loss per share</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">Basic
loss per share is computed using the weighted average number
of shares of common stock outstanding during each period.
Diluted loss per share includes the dilutive effects of
common stock equivalents on an “as if converted”
basis. For the years ended March 31, 2013 and 2012, potential
dilutive securities had an anti-dilutive effect and were not
included in the calculation of diluted net loss per common
share</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Recent
Accounting Pronouncements</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">The
Company does not expect the adoption of recently issued
accounting pronouncements to have a significant impact on the
Company’s results of operation, financial position or
cash flows.</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reclassifications</font>
</div><br/><div style="LINE-HEIGHT: 11.4pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 10pt">Certain
amounts have been reclassified from the prior financial
statements for comparative purposes.</font>
</div><br/>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for all significant accounting policies of the reporting entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
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-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
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