STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 5 STOCKHOLDERS' EQUITY

The Company is authorized to issue 100,000,000 shares of common stock, par value of $0.0001 per share, and 20,000,000 shares of preferred stock, par value of $0.0001 per share. As of December 31, 2016, 24,460,000 and 0 shares of common stock and preferred stock, respectively, were issued and outstanding.

On December 11, 2015, the Company issued 20,000,000 founders common stock to two directors and officers. Since there was no consideration paid for the shares, the Company recorded a discount of $2,000, representing the par value of the stock, in connection with the issuance.

On April 17, 2016, the Company effected the following transactions to facilitate a change of control:

⋅ The Company redeemed 19,400,000 of the 20,000,000 outstanding shares of common stock pro rata from the two shareholders thereof.

⋅ The then-current officers and directors of the Company resigned and new officers and directors were elected.

On April 18, 2016, the Company issued 20,000,000 shares of its common stock pursuant to Section 4(2) of the Securities Act of 1933 at par representing 97% of the then total outstanding 20,600,000 shares of common stock to its newly-elected President, CEO and director.

During the second quarter of 2016, the Company issued an aggregate of 3,800,000 shares of common stock at par value for aggregate proceeds for $380, pursuant to subscription agreements under a Regulation D offering, of which, 85,000 shares were issued to related parties.

On December 5, 2016, the Company issued 40,000 shares of common stock valued at $40,000 pursuant to a legal services agreement. As of December 31, 2016, the legal services had not been provided and, as a result, the Company capitalized the $40,000 value of the common stock, of which, $20,000 was included within prepaid expenses and $20,000 was included within receivable from related party.

 

During the fourth quarter of 2016, the Company sold to an investor 20,000 shares of its common stock at a price of $1.00 per share for proceeds of $20,000. In addition, during the fourth quarter of 2016, the Company received deposits from investors in the aggregate amount of $224,000 associated with subscription agreements to purchase an aggregate of 224,000 shares of common stock at a price of $1.00 per share. As of December 31, 2016, the Company had not issued the 224,000 shares of common and, as a result, included the deposits from investors within other liabilities on the balance sheet. Subsequent to December 31, 2016, the Company issued the 224,000 shares of common stock to the investors.  

During the years ended December 31, 2016 and 2015, Company expenses in the aggregate of $9,107 and $312, respectively, were paid by certain stockholders on the Company’s behalf and were recorded as contributions of capital within additional paid-in capital.