Commitments and Related Party Transactions

9 Months Ended

Dec. 31, 2019

Commitments and Related Party Transactions [Abstract]

Commitments and Related Party Transactions

Note 6 - Commitments and Related Party Transactions

Office Space

As of December 31, 2019, the Company’s office facilities are located in Boca Raton, Florida. Such facilities are leased by the sole officer and a stockholder of the Company and used by the Company at no charge.

Note Payable - Stockholder

On March 22, 2018, the Company issued a promissory note (the “Note”) to a stockholder of the Company pursuant to which the Company agreed to repay the sum of any and all amounts advanced to the Company, on or before the date that the Company consummates a business combination with a private company or reverse takeover transaction or other transaction after which the Company would cease to be a shell company. Interest shall accrue on the outstanding principal amount of the Note on the basis of a 360-day year from the date of borrowing until paid in full at the rate of six percent (6%) per annum.

As of December 31, 2019, the total amount due was $100,280 including accrued interest of $7,170, which is reported as a component of accounts payable and accrued expenses on the accompanying condensed balance sheets.