XML 17 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
ORGANIZATION AND BUSINESS OPERATIONS
6 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
ORGANIZATION AND BUSINESS OPERATIONS

NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS

 

Organization and Description of Business

 

ALTAIR INTERNATIONAL CORP. (the “Company”) was incorporated under the laws of the State of Nevada on December 20, 2012. The Company’s physical address is 18934 N 92nd Way, Scottsdale, AZ 85255. The Company is in the development stage as defined under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915-205 "Development-Stage Entities.”

 

The Company is currently engaged in identifying and assessing new business opportunities.

 

On November 11, 2014, the Company entered into a strategic alliance with Cure Pharmaceutical Corporation (“CURE”), a California company engaged in the development of oral thin film (“OTF”) for the delivery of nutraceutical, over-the-counter and prescription products. This alliance was initially comprised of an Exclusive License and Distribution Agreement for CURE’s Sildenafil Products in defined territories, a joint venture agreement for the procurement of equipment specific for oral thin film products and further joint ventures and other business relationships for the purpose of completing the development and marketing of additional products. Altair advanced $560,000 to CURE in this regard.

 

In September, 2016, the Company and CURE agreed to terminate the Exclusive License and Distribution Agreement for CURE’s Sildenafil Products. In its place, the Company and CURE entered into an Exclusive License and Distribution Agreement for a family of sports related nutraceutical products. The Company has been unable to generate any sales of these products due to a lack of working capital and the human resources required to introduce the products to market. The Company wrote off its $560,000 investment in the agreement in the financial statements for the year ended March 31, 2017.

 

The Company had previously planned to commence operations in the architectural field and to be responsible for the concept architectural vision of future private and public buildings as well as municipal organized public areas. This plan was abandoned in the 2015 fiscal year in favor of the business operations described above.

 

Since inception (December 20, 2012) through September 30, 2018, the Company has not generated any revenue and has accumulated losses of $871,112.

 

In management’s opinion all adjustments necessary for a fair statement of the results for the interim periods have been made, and that all adjustments have been made to maintain the books in accordance with GAAP. Furthermore, sufficient disclosures have been made in order to ensure that the interim financial statements will not be misleading.