Related Party Transactions

12 Months Ended

Dec. 31, 2016

Related Party Transactions [Abstract]

Related Party Transactions

NOTE 5–RELATED PARTY TRANSACTIONS

The sole officer and director of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, he may face a conflict in selecting between the Company and his other business interests. The Company has not formulated a policy for the resolution of such conflicts.

The Company’s majority shareholder is its legal counsel. During the years ended December 31, 2016 and 2015, this shareholder advanced $6,699 and $7,617, respectively. These advances are unsecured and do not carry an interest rate or repayment terms; however, the shareholder has orally agreed not to seek repayment until the Company is financially able to repay it.

The Company does not own any property. It previously leased an office from a third party at 201 Santa Monica Blvd., Suite 300, Santa Monica, California 90401-2224. Its principal shareholder and legal counsel also use this location. Commencing April 1, 2011, the Company’s legal counsel provides it with office space, on a month-to-month basis, for no charge. Commencing in May 2013, the estimated cost of the space he provides is $100 per month. The Company recorded imputed rent expense of $1,200 and $1,200 for the years ended December 31, 2016 and 2015, respectively.

The Company does not incur any Edgar filing fee with its Edgar Agent since the Company’s majority shareholder acts as legal counsel for the Edgar Agent. The Edgar Agent charges third parties $4,995 per year for unlimited filings.