2.4.0.8005 - Disclosure - Note 1 - Summary of Significant Accounting Policiestruefalsefalse1falsefalsefalsec2_From1May2011To31Jul2011http://www.sec.gov/CIK0000879519duration2011-05-01T00:00:002011-07-31T00:00:001true1us-gaap_AccountingPoliciesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_SignificantAccountingPoliciesTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="LINE-HEIGHT: 12.55pt; 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: 11pt; FONT-WEIGHT: bold">Note
1 - Summary of Significant Accounting Policies</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">General
Organization and Business</font>
</div><br/><div style="line-height: 12.55pt; 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: 11pt;">The
Company was originally incorporated as “Naxos Resources
Ltd.” (“Naxos” in British Columbia under
the Canada Business Corporation act on May 23, 1986, with its
principal place of business in Vancouver, BC.  In
2000, The Company moved its executive and administrative
offices to San Francisco, CA, USA, effectively ending its
business connections with Canada.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">On
October 15, 2001, the shareholders approved the
domiciliation of the Company to the United
States.  On October 29, 2001, Articles of
Incorporation and Articles of Domestication were filed with
the Secretary of State of Nevada and Naxos was
“continued” as a Nevada Corporation under the
name of Franklin Lake Resources, Inc.  On January
3, 2002, Industry Canada Issued a Certificate of
Discontinuance, formally ending the Company’s legal
ties to Canada.  On January 9, 2002, the name
change to Franklin Lake Resources, Inc. became effective
for trading purposes.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company was in the business of exploring for precious
metals, developing processes for extracting them from the
earth and if warranted, developing sites for possible
exploration.  As of November 2008, the Company
has refocused it operations and now operates as a retail
store under the name On Screen TV, Inc.  The
Company trades under the symbol SONT.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Basis
of presentation</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
accompanying financial statements have been prepared in
accordance with generally accepted accounting principles in
the United States of America, and pursuant to the rules and
regulations of the Securities and Exchange Commission (the
“SEC”) and reflect all adjustments, consisting
of normal recurring adjustments, which management believes
are necessary to fairly present the financial position,
results of operations and cash flows of the Company as of
and for the period ending October 31, 2010 and July 31,
2011.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Use
of estimates</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
preparation of financial statements in conformity with
generally accepted accounting principles requires
management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date
of the financial statements and the reported amount of
revenues and expenses during the reporting period. Actual
results could differ from those estimates.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Cash
and cash equivalents</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company maintains a cash balance in a non-interest-bearing
account that currently does not exceed federally insured
limits. For the purpose of the statements of cash flows,
all highly liquid investments with an original maturity of
three months or less are considered to be cash equivalents.
There were no cash equivalents as of October 31, 2010 and
July 31, 2011.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Property
and Equipment</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company values its investment in property and equipment at
cost less accumulated depreciation.  Depreciation
is computed primarily by the straight line method over the
estimated useful lives of the assets ranging from three to
five years.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Inventory</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">Inventory
is recorded at lower of cost or market; cost is computed on
a first-in first-out basis.  The inventory
consists of imported goods.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Accounts
receivable</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">Trade
receivables are carried at original invoice
amount.  Accounts receivable are written off to
bad debt expense using the direct write-off
method.  Receivables past due for more than 120
days are considered delinquent.  Management
determines uncollectible accounts by regularly evaluating
individual customer receivables and considering a
customer’s financial condition, credit history, and
current economic conditions and by using historical
experience applied to an aging of
accounts.  Recoveries of trade receivables
previously written off are recorded when received.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Fair
value of financial instruments and derivative financial
instruments</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company’s financial instruments include cash,
accounts receivable, accounts payable, and notes payable.
All instruments are accounted for on a historical cost
basis, which, due to the short maturity of these financial
instruments, approximates fair value at October 31, 2010
and July 31, 2011. The Company did not engage in any
transaction involving derivative instruments.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Federal
income taxes</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company accounts for its income taxes in accordance with
Income Taxes Topic of the FASB ASC 740, which requires
recognition of deferred tax assets and liabilities for
future tax consequences attributable to differences between
the financial statement carrying amounts of existing assets
and liabilities and their respective tax bases and tax
credit carry forwards. Deferred tax assets and liabilities
are measured using enacted tax rates expected to apply to
taxable income in the years in which those temporary
differences are expected to be recovered or settled. The
effect on deferred tax assets and liabilities of a change
in tax rates is recognized in operations in the period that
includes the enactment date.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Net
Loss Per Share of Common Stock</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">Net
loss per share is provided in accordance with FASB ASC
260-10, “Earnings per Share”. Basic net loss
per common share (“EPS”) is computed by
dividing income available to common stockholders by the
weighted-average number of common shares outstanding for
the period. Diluted earnings per share is computed by
dividing net income by the weighted average shares
outstanding, assuming all dilutive potential common shares
were issued, unless doing so is anti-dilutive.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Internal
Website Development Costs</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">Under
ASC350-50, <font style="FONT-STYLE: italic; DISPLAY: inline">Website
Development Costs</font>, costs and expenses incurred
during the planning and operating stages of the
Company’s website are expensed as
incurred.  Under ASC 350-50, costs incurred in
the website application and infrastructure development
stages are capitalized by the Company and amortized to
expense over the website’s estimated useful life or
period of benefit.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Impairment
of Long-Lived Assets</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company evaluates the recoverability of long-lived assets
and the related estimated remaining lives at each balance
sheet date.  The Company records an impairment or
change in useful life whenever events or changes in
circumstances indicate that the carrying amount may not be
recoverable or the useful life has changed.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Deferred
Offering Costs</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company defers as other assets the direct incremental costs
of raising capital until such time as the offering is
completed.  At the time of the completion of the
offering, the costs are charged against the capital
raised.  Should the offering be terminated,
deferred offering costs are charged to operations during
the period in which the offering is terminated.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Deferred
Acquisition Costs</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company defers as other assets the direct incremental costs
of raising capital until such time as the offering is
completed.  At the time of the completion of the
offering, the costs are charged against the capital
raised.  Should the offering be terminated,
deferred offering costs are charged to operations during
the period in which the offering is terminated.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Common
Stock Registration Expenses</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company considers incremental costs and expenses related to
the registration of equity securities with the SEC, whether
by contractual arrangement as of a certain date or by
demand, to be unrelated to original issuance
transactions.  As such, subsequent registration
costs and expenses are reflected in the accompanying
financial statements as general and administrative
expenses, and are expensed as incurred.</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Advertising:</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">The
Company expenses all costs of advertising as
incurred.  The advertising costs included in
general and administrative expenses for the year ended
October 31, 2010 and July 31, 2011 were $15,518 and $9,220,
respectively</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 11pt">Recently
Issued Accounting Pronouncements:</font>
</div><br/><div style="LINE-HEIGHT: 12.55pt; 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: 11pt">As
of and for the years ended October 31, 2010 and July 31,
2011, the Company does not expect any of the recently
issued accounting pronouncements to have a material impact
on its financial condition or results of operations.</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
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-Name Accounting Standards Codification
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