Rendering
Component: (Network and Table) |
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Network | 0015 - Disclosure - Significant Accounting Policies (Policies) (http://AII/role/SignificantAccountingPoliciesPolicies) |
Table | (Implied) |
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] | 0001444144 (http://www.sec.gov/CIK) |
Notes to Financial Statements | Period [Axis] |
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2011-01-01 - 2011-12-31 |
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Notes to Financial Statements | |
Use of Estimates | USE OF ESTIMATES - The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America 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 amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates. |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS - All cash, other than held in escrow,
is maintained with a major financial institution in the United States. Deposits with this bank may exceed the amount of insurance
provided on such deposits. Temporary cash investments with an original maturity of three months or less are considered to be cash
equivalents. |
Research and Development Expenses | RESEARCH AND DEVELOPMENT EXPENSES - Expenditures for research, development,
and engineering of products are expensed as incurred. |
Common Stock | COMMON STOCK - The Company records common stock issuances when all
of the legal requirements for the issuance of such common stock have been satisfied. |
Revenue and Cost Recognition | REVENUE AND COST RECOGNITION - The Company has no current source
of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. |
Advertising costs | ADVERTISING COSTS - The Company's policy regarding advertising is
to expense advertising when incurred. |
Income Taxes | INCOME TAXES - Income taxes are provided for the tax effects of
transactions reported in the financial statements and consist of taxes currently due plus deferred taxes resulting from temporary
differences. Such temporary differences result from differences in the carrying value of assets and liabilities for tax and financial
reporting purposes. The deferred tax assets and liabilities represent the future tax consequences of those differences, which will
either be taxable or deductible when the assets and liabilities are recovered or settled. Valuation allowances are established
when necessary to reduce deferred tax assets to the amount expected to be realized.
The Company adopted the provisions of FASB ASC 740-10 "Uncertainty
in Income Taxes" (ASC 740-10), on January 1, 2007. The Company has not recognized a liability as a result of the implementation
of ASC 740-10. A reconciliation of the beginning and ending amount of unrecognized tax benefits has not been provided since there
is no unrecognized benefit since the date of adoption. The Company has not recognized interest expense or penalties as a result
of the implementation of ASC 740-10. If there were an unrecognized tax benefit, the Company would recognize interest accrued related
to unrecognized tax benefits in interest expense and penalties in operating expenses. |
Earnings (Loss) Per Share | EARNINGS (LOSS) PER SHARE - Basic loss per share is computed by
dividing net loss attributable to common stockholders by the weighted average common shares outstanding for the period. Diluted
loss per share is computed giving effect to all potentially dilutive common shares. Potentially dilutive common shares may consist
of incremental shares issuable upon the exercise of stock options and warrants and the conversion of notes payable to common stock.
In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus
are excluded from the calculation. At December 31, 2011, the Company did not have any potentially dilutive common shares. |
Financial Instruments | FINANCIAL INSTRUMENTS - In September 2006, the Financial Accounting
Standards Board (FASB) introduced a framework for measuring fair value and expanded required disclosure about fair value measurements
of assets and liabilities. The Company adopted the standard for those financial assets and liabilities as of the beginning of the
2008 fiscal year and the impact of adoption was not significant. FASB Accounting Standards Codification (ASC) 820 "Fair Value
Measurements and Disclosures" (ASC 820) defines fair value as the exchange price that would be received for an asset or paid
to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction
between market participants on the measurement date.. ASC 820 also establishes a fair value hierarchy that distinguishes between
(1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2)
an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances
(unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted
quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level
3). The three levels of the fair value hierarchy are described below:
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Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. |
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Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
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Level 3 - Inputs that are both significant to the fair value measurement and unobservable. |
Fair value estimates discussed herein are based upon certain market
assumptions and pertinent information available to management as of December 31, 2011. The respective carrying value of certain
on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These
financial instruments include accounts receivable, other current assets, accounts payable, accrued compensation and accrued expenses.
The fair value of the Company's notes payable is estimated based on current rates that would be available for debt of similar terms
which is not significantly different from its stated value.
On January 1, 2009, the Company applied ASC 820 for all non-financial
assets and liabilities measured at fair value on a non-recurring basis. The adoption of ASC 820 for non-financial assets and liabilities
did not have a significant impact on the Company's financial statements. |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS
From time to time, new accounting pronouncements are issued by the
FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed,
we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial
position or results of operations upon adoption.
In December 2011, the FASB issued ASU 2011-11, Balance Sheet (Topic
210): Disclosures about Offsetting Assets and Liabilities (ASU 2011-11). This newly issued accounting standard requires an entity
to disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial
position as well as instruments and transactions executed under a master netting or similar arrangement and was issued to enable
users of financial statements to understand the effects or potential effects of those arrangements on its financial position. This
ASU is required to be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning
on or after January 1, 2013. As this accounting standard only requires enhanced disclosure, the adoption of this standard
is not expected to have an impact our financial position or results of operations.
In June 2011, the FASB issued ASU No. 2011-05, Comprehensive
Income (Topic 220): Presentation of Comprehensive Income (ASU 2011-05). This newly issued accounting standard (1) eliminates
the option to present the components of other comprehensive income as part of the statement of changes in stockholders equity;
(2) requires the consecutive presentation of the statement of net income and other comprehensive income; and (3) requires
an entity to present reclassification adjustments on the face of the financial statements from other comprehensive income to net
income. The amendments in this ASU do not change the items that must be reported in other comprehensive income or when an item
of other comprehensive income must be reclassified to net income nor do the amendments affect how earnings per share is calculated
or presented. In December 2011, the FASB issued ASU No. 2011-12, Deferral of the Effective Date for Amendments to the Presentation
of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05, which
defers the requirement within ASU 2011-05 to present on the face of the financial statements the effects of reclassifications out
of accumulated other comprehensive income on the components of net income and other comprehensive income for all periods presented.
During the deferral, entities should continue to report reclassifications out of accumulated other comprehensive income consistent
with the presentation requirements in effect prior to the issuance of ASU 2011-05. These ASUs are required to be applied retrospectively
and are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. As these accounting
standards do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income
must be reclassified to net income, the adoption of these standards is not expected to have an impact on our financial position
or results of operations.
In May 2011, the FASB issued ASU No. 2011-04, Fair Value
Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and
IFRSs (ASU 2011-04). This newly issued accounting standard clarifies the application of certain existing fair value
measurement guidance and expands the disclosures for fair value measurements that are estimated using significant unobservable
(level 3) inputs. This ASU is effective on a prospective basis for annual and interim reporting periods beginning on or after
December 15, 2011. The adoption of this standard is not expected to have a material impact on our financial position or results
of operations.
Except for rules and interpretive releases of the SEC under authority
of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification
(ASC) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company. Management
has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company's present
or future financial statements.
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ADVERTISING COSTS - The Company's policy regarding advertising is
to expense advertising when incurred.
FINANCIAL INSTRUMENTS - In September 2006, the Financial Accounting
Standards Board (FASB) introduced a framework for measuring fair value and expanded required disclosure about fair value measurements
of assets and liabilities. The Company adopted the standard for those financial assets and liabilities as of the beginning of the
2008 fiscal year and the impact of adoption was not significant. FASB Accounting Standards Codification (ASC) 820 "Fair Value
Measurements and Disclosures" (ASC 820) defines fair value as the exchange price that would be received for an asset or paid
to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction
between market participants on the measurement date.. ASC 820 also establishes a fair value hierarchy that distinguishes between
(1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2)
an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances
(unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted
quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level
3). The three levels of the fair value hierarchy are described below:
|
· |
Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. |
|
|
|
|
· |
Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
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· |
Level 3 - Inputs that are both significant to the fair value measurement and unobservable. |
Fair value estimates discussed herein are based upon certain market
assumptions and pertinent information available to management as of December 31, 2011. The respective carrying value of certain
on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These
financial instruments include accounts receivable, other current assets, accounts payable, accrued compensation and accrued expenses.
The fair value of the Company's notes payable is estimated based on current rates that would be available for debt of similar terms
which is not significantly different from its stated value.
On January 1, 2009, the Company applied ASC 820 for all non-financial
assets and liabilities measured at fair value on a non-recurring basis. The adoption of ASC 820 for non-financial assets and liabilities
did not have a significant impact on the Company's financial statements.
COMMON STOCK - The Company records common stock issuances when all
of the legal requirements for the issuance of such common stock have been satisfied.
INCOME TAXES - Income taxes are provided for the tax effects of
transactions reported in the financial statements and consist of taxes currently due plus deferred taxes resulting from temporary
differences. Such temporary differences result from differences in the carrying value of assets and liabilities for tax and financial
reporting purposes. The deferred tax assets and liabilities represent the future tax consequences of those differences, which will
either be taxable or deductible when the assets and liabilities are recovered or settled. Valuation allowances are established
when necessary to reduce deferred tax assets to the amount expected to be realized.
The Company adopted the provisions of FASB ASC 740-10 "Uncertainty
in Income Taxes" (ASC 740-10), on January 1, 2007. The Company has not recognized a liability as a result of the implementation
of ASC 740-10. A reconciliation of the beginning and ending amount of unrecognized tax benefits has not been provided since there
is no unrecognized benefit since the date of adoption. The Company has not recognized interest expense or penalties as a result
of the implementation of ASC 740-10. If there were an unrecognized tax benefit, the Company would recognize interest accrued related
to unrecognized tax benefits in interest expense and penalties in operating expenses.
USE OF ESTIMATES - The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America 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 amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates.
CASH AND CASH EQUIVALENTS - All cash, other than held in escrow,
is maintained with a major financial institution in the United States. Deposits with this bank may exceed the amount of insurance
provided on such deposits. Temporary cash investments with an original maturity of three months or less are considered to be cash
equivalents.
EARNINGS (LOSS) PER SHARE - Basic loss per share is computed by
dividing net loss attributable to common stockholders by the weighted average common shares outstanding for the period. Diluted
loss per share is computed giving effect to all potentially dilutive common shares. Potentially dilutive common shares may consist
of incremental shares issuable upon the exercise of stock options and warrants and the conversion of notes payable to common stock.
In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus
are excluded from the calculation. At December 31, 2011, the Company did not have any potentially dilutive common shares.
REVENUE AND COST RECOGNITION - The Company has no current source
of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost.
RECENT ACCOUNTING PRONOUNCEMENTS
From time to time, new accounting pronouncements are issued by the
FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed,
we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial
position or results of operations upon adoption.
In December 2011, the FASB issued ASU 2011-11, Balance Sheet (Topic
210): Disclosures about Offsetting Assets and Liabilities (ASU 2011-11). This newly issued accounting standard requires an entity
to disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial
position as well as instruments and transactions executed under a master netting or similar arrangement and was issued to enable
users of financial statements to understand the effects or potential effects of those arrangements on its financial position. This
ASU is required to be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning
on or after January 1, 2013. As this accounting standard only requires enhanced disclosure, the adoption of this standard
is not expected to have an impact our financial position or results of operations.
In June 2011, the FASB issued ASU No. 2011-05, Comprehensive
Income (Topic 220): Presentation of Comprehensive Income (ASU 2011-05). This newly issued accounting standard (1) eliminates
the option to present the components of other comprehensive income as part of the statement of changes in stockholders equity;
(2) requires the consecutive presentation of the statement of net income and other comprehensive income; and (3) requires
an entity to present reclassification adjustments on the face of the financial statements from other comprehensive income to net
income. The amendments in this ASU do not change the items that must be reported in other comprehensive income or when an item
of other comprehensive income must be reclassified to net income nor do the amendments affect how earnings per share is calculated
or presented. In December 2011, the FASB issued ASU No. 2011-12, Deferral of the Effective Date for Amendments to the Presentation
of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05, which
defers the requirement within ASU 2011-05 to present on the face of the financial statements the effects of reclassifications out
of accumulated other comprehensive income on the components of net income and other comprehensive income for all periods presented.
During the deferral, entities should continue to report reclassifications out of accumulated other comprehensive income consistent
with the presentation requirements in effect prior to the issuance of ASU 2011-05. These ASUs are required to be applied retrospectively
and are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. As these accounting
standards do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income
must be reclassified to net income, the adoption of these standards is not expected to have an impact on our financial position
or results of operations.
In May 2011, the FASB issued ASU No. 2011-04, Fair Value
Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and
IFRSs (ASU 2011-04). This newly issued accounting standard clarifies the application of certain existing fair value
measurement guidance and expands the disclosures for fair value measurements that are estimated using significant unobservable
(level 3) inputs. This ASU is effective on a prospective basis for annual and interim reporting periods beginning on or after
December 15, 2011. The adoption of this standard is not expected to have a material impact on our financial position or results
of operations.
Except for rules and interpretive releases of the SEC under authority
of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification
(ASC) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company. Management
has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company's present
or future financial statements.
RESEARCH AND DEVELOPMENT EXPENSES - Expenditures for research, development,
and engineering of products are expensed as incurred.