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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 6/24/20 FCCC Inc 10-K 3/31/20 33:956K Discount Edgar/FA |
Document/Exhibit Description Pages Size 1: 10-K Annual Report HTML 198K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 18K 3: EX-32.1 Certification -- §906 - SOA'02 HTML 12K 20: R1 Cover HTML 51K 30: R2 Balance Sheets HTML 49K 26: R3 Balance Sheets (Parenthetical) HTML 21K 12: R4 Statements of Operations HTML 37K 22: R5 Statements of Changes in Stockholders Equity HTML 22K 31: R6 Statements of Cash Flows HTML 32K 27: R7 Summary of Significant Accounting Policies HTML 38K 14: R8 Financial Instruments HTML 17K 18: R9 Commitments and Contingencies and Financial HTML 15K Instruments With Off Balance Sheet Risk 15: R10 Income Taxes HTML 29K 19: R11 Common Stock HTML 15K 33: R12 Summary of Significant Accounting Policies HTML 53K (Policies) 25: R13 Summary of Significant Accounting Policies HTML 17K (Tables) 13: R14 Income Taxes (Tables) HTML 31K 17: R15 Summary of Significant Accounting Policies HTML 14K (Details) 32: R16 Summary of Significant Accounting Policies HTML 18K (Details Narrative) 24: R17 Income Taxes (Details) HTML 19K 11: R18 Income Taxes (Details 1) HTML 24K 21: R19 Income Taxes (Details 2) HTML 25K 29: R20 Income Taxes (Details Narrative) HTML 20K 28: R21 Common Stock (Details Narrative) HTML 19K 16: XML IDEA XML File -- Filing Summary XML 52K 10: EXCEL IDEA Workbook of Financial Reports XLSX 23K 4: EX-101.INS XBRL Instance -- fccc-20200331 XML 179K 7: EX-101.CAL XBRL Calculations -- fccc-20200331_cal XML 50K 9: EX-101.DEF XBRL Definitions -- fccc-20200331_def XML 41K 6: EX-101.LAB XBRL Labels -- fccc-20200331_lab XML 217K 8: EX-101.PRE XBRL Presentations -- fccc-20200331_pre XML 162K 5: EX-101.SCH XBRL Schema -- fccc-20200331 XSD 46K 23: ZIP XBRL Zipped Folder -- 0001477932-20-003523-xbrl Zip 28K
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<us-gaap:SignificantAccountingPoliciesTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Company Operations</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The accompanying financial statements of FCCC, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company has limited operations and is actively seeking merger, acquisition or business combination opportunities with an operating business or other financial transaction opportunities. Until a transaction is effectuated, the Company does not expect to have significant operations. Accordingly, during such period, the Company does not expect to achieve sufficient income to offset its operating expenses, resulting in operating losses that may require the Company to use and thereby reduce its cash balance.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Cash and Cash Equivalents</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company has defined cash as including cash on hand and cash in interest bearing and non-interest bearing operating bank accounts. Highly liquid instruments purchased with original maturities of three months or less are considered to be cash equivalents.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company maintains cash balances at a financial institution. Accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 at such institution. At various times throughout the year, cash balances may exceed FDIC limits. At March 31, 2020, the amount uninsured was $0.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Estimates</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Dividends</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company may or may not pay cash dividends or make other distributions in the future depending on a number of factors. The Company may, however, pay a cash dividend or other distribution as part of a merger, acquisition, reverse merger or business combination transaction or if the Board of Directors deems it advisable for the benefit of all shareholders at any time. </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Income Taxes</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company utilizes the asset and liability method of accounting for deferred income taxes as prescribed by the FASB Accounting Standard Codification, (“ASC”), 740 “Income Taxes”. This method requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the tax return and financial statement reporting basis of certain assets and liabilities.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">As required by ASC 740-10, “Income Taxes”, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. Management does not believe that there are any uncertain tax positions which would have a material impact on the financial statements. The Company has elected to include interest and penalties related to uncertain tax positions as a component of income tax expense. To date, the Company has not recorded any interest or penalties related to uncertain tax positions.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><div align="justify"> </div> <p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> <font style="text-decoration:underline">Advertising</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company expenses advertising costs as incurred. Advertising expense included in operating expenses was $0 and $0 for the years ended March 31, 2020 and 2019 respectively.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Earnings Per Common Share</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company follows FASB ASC 260. Basic Earnings Per Share (“EPS”) is based on the weighted average number of common shares outstanding for the period, excluding the effects of any potentially dilutive securities. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted. Net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">Basic and diluted loss per common share was calculated using the following number of shares:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><div align="justify"> <table style="border-spacing:0;text-decoration:none;width:85%;white-space:normal;word-spacing:0px;border-collapse:collapse;;text-transform:none;color:rgb(0,0,0);text-align:left;font:10pt times new roman;margin-left:auto;orphans:2;letter-spacing:normal;margin-right:auto;text-indent:0px;-webkit-text-stroke-width:0px" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31,</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Weighted average number of common shares outstanding</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; BORDER-BOTTOM: 3px double;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 3px double; TEXT-ALIGN: right;">3,461,022</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; PADDING-BOTTOM: 3px;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; BORDER-BOTTOM: 3px double;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 3px double; TEXT-ALIGN: right;">3,461,022</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; PADDING-BOTTOM: 3px;"> <p style="margin:0px"> </p></td></tr></table></div> <p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Revenue and Cost Recognition</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">Not applicable.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Common Stock Warrants</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">None outstanding.</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"><font style="text-decoration:underline">Recently Issued Accounting Pronouncements</font>:</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.</p></div> </us-gaap:SignificantAccountingPoliciesTextBlock> | |||||||||||||||||||||
<us-gaap:FinancialInstrumentsDisclosureTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"><font style="text-decoration:underline">Concentrations of Credit Risk</font>:</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"> </p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">The Company’s financial instruments that are exposed to concentrations of credit risk consist of cash on deposit with financial institutions.</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"> </p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"><font style="text-decoration:underline">Fair Value of Financial Instruments</font>:</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"> </p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">The Company follows FASB ASC 825 “Fair Value of Financial Instruments”, which requires disclosure of the fair value of financial instruments for which the determination of fair value is practicable. The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties. The carrying amounts of the Company’s financial instruments (cash and cash equivalents) approximate their fair value because of the short maturity of these instruments.</p></div> </us-gaap:FinancialInstrumentsDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="MARGIN: 0px; text-align:justify;">Management of the Company expects to use consultants, attorneys and accountants as necessary, and it is not expected that FCCC, Inc. will have any full-time or other employees, except as may be the result of completing a transaction</p></div> </us-gaap:CommitmentsAndContingenciesDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="text-align:justify;margin:0px;text-indent:45px">The Company’s deferred tax asset relates to net operating losses that may be carried forward to future years. At March 31, 2020, the Company has available net operating losses of $633,252 and $747,753 for federal and state income taxes, respectively. No tax benefit has been reported in the financial statements, because the Company believes there is a 50% or greater chance the carry-forwards will not be utilized. Accordingly, the potential tax benefits of the loss carry-forward are offset by a valuation allowance of the same amount. The Company’s increase in valuation allowance of $7,124 during the year ended March 31, 2020 was recorded to offset the deferred tax benefit of the Company’s tax loss for the year. The Company’s decrease in valuation of $(4,337) during the year ended March 31, 2019 was recorded to offset the deferred tax expense incurred during the year ended March 31, 2019 which was attributable to the change in the federal statutory rate which impacted the deferred tax asset associated with the Company’s net operating losses that can be utilized to offset future taxable income of the Company.</p><p style="margin:0px;text-indent:45px"> </p><p style="text-align:justify;margin:0px;text-indent:45px">The Company’s deferred tax asset and valuation allowance as of March 31, 2020 and 2019 were as follows:</p><p style="margin:0px"> </p><table style="border-spacing:0;width:85%;border-collapse:collapse;;text-align:left;font:10pt times new roman;margin-left:auto;margin-right:auto" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Net Operating Losses</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">177,287</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">170,163</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Valuation Allowance</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(177,287</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(170,163</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td></tr></table> <p style="margin:0px"> </p><p style="text-align:justify;margin:0px;text-indent:45px">The Company’s provision for federal and state income taxes for the years ended March 31, 2020 and 2019 consisted of the following:</p><p style="margin:0px"> </p><table style="border-spacing:0;width:85%;border-collapse:collapse;;text-align:left;font:10pt times new roman;margin-left:auto;margin-right:auto" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Current Tax Expense (Benefit)</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">-</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">-</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Deferred Tax Expense (Benefit)</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(7,124</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">4,337</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Increase (Decrease) in Valuation Allowance</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">7,124</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(4,337</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Net tax provision</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr></table> <p style="margin:0px"> </p><p style="text-align:justify;margin:0px;text-indent:45px">The Company’s effective tax rate differed from the federal statutory income tax rate for the years ended March 31, 2020 and 2019 as follows:</p><p style="margin:0px"> </p><table style="border-spacing:0;width:85%;border-collapse:collapse;;text-align:left;font:10pt times new roman;margin-left:auto;margin-right:auto" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Federal statutory rate</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">21.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">21.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">State tax, net of federal tax effect</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">5.93</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">5.53</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Valuation allowance</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td colspan="2"> <p style="text-align:right;margin:0px">(26.93</p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;"> <p style="margin:0px">%) </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td colspan="2"> <p style="text-align:right;margin:0px">(26.53</p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;"> <p style="margin:0px">%)</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Effective tax rate</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td></tr></table> <p style="margin:0px"> </p><p style="text-align:justify;margin:0px;text-indent:45px">As of March 31, 2020 and 2019, the Company does not believe that it has taken any tax positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next twelve months. The Company’s income tax returns are subject to examination by the appropriate taxing jurisdictions. As of March 31, 2020, the Company’s income tax returns generally remain open for examination for three years from the date filed with each taxing jurisdiction.</p></div> </us-gaap:IncomeTaxDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="margin: 0px; text-align:justify;"><font style="font-size:13px;text-decoration:none;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;float:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;display:inline !important;letter-spacing:normal;background-color:rgb(255,255,255);text-indent:0px;-webkit-text-stroke-width:0px">The Company’s capital structure consists of 22,000,000 shares of authorized common stock with no par value and 3,461,022 shares were issued and outstanding at both March 31, 2020 and 2019. There were no changes to the Company’s capital structure during the years ended March 31, 2020 and 2019.</font></p></div> </us-gaap:StockholdersEquityNoteDisclosureTextBlock> | |||||||||||||||||||||
<fccc:CompanyOperationsPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The accompanying financial statements of FCCC, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).</p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 13px; TEXT-DECORATION: none; FONT-FAMILY: Times New Roman; FONT-VARIANT: normal; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; MARGIN: 0px; LETTER-SPACING: normal; TEXT-INDENT: 45px; -webkit-text-stroke-width: 0px; text-align:justify;">The Company has limited operations and is actively seeking merger, acquisition or business combination opportunities with an operating business or other financial transaction opportunities. Until a transaction is effectuated, the Company does not expect to have significant operations. Accordingly, during such period, the Company does not expect to achieve sufficient income to offset its operating expenses, resulting in operating losses that may require the Company to use and thereby reduce its cash balance.</p></div> </fccc:CompanyOperationsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">The Company has defined cash as including cash on hand and cash in interest bearing and non-interest bearing operating bank accounts. Highly liquid instruments purchased with original maturities of three months or less are considered to be cash equivalents.</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px"> </p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">The Company maintains cash balances at a financial institution. Accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 at such institution. At various times throughout the year, cash balances may exceed FDIC limits. At March 31, 2020, the amount uninsured was $0.</p></div> </us-gaap:CashAndCashEquivalentsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:UseOfEstimates contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="text-align:justify;margin:0px;text-indent:45px">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.</p></div> </us-gaap:UseOfEstimates> | |||||||||||||||||||||
<fccc:DividendsPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="text-align:justify;margin:0px;text-indent:45px">The Company may or may not pay cash dividends or make other distributions in the future depending on a number of factors. The Company may, however, pay a cash dividend or other distribution as part of a merger, acquisition, reverse merger or business combination transaction or if the Board of Directors deems it advisable for the benefit of all shareholders at any time.</p></div> </fccc:DividendsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:IncomeTaxPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">The Company utilizes the asset and liability method of accounting for deferred income taxes as prescribed by the FASB Accounting Standard Codification, (“ASC”), 740 “Income Taxes”. This method requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the tax return and financial statement reporting basis of certain assets and liabilities.</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px"> </p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">As required by ASC 740-10, “Income Taxes”, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. Management does not believe that there are any uncertain tax positions which would have a material impact on the financial statements. The Company has elected to include interest and penalties related to uncertain tax positions as a component of income tax expense. To date, the Company has not recorded any interest or penalties related to uncertain tax positions.</p></div> </us-gaap:IncomeTaxPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:AdvertisingCostsPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="text-align:justify;margin:0px;text-indent:45px">The Company expenses advertising costs as incurred. Advertising expense included in operating expenses was $0 and $0 for the years ended March 31, 2020 and 2019 respectively.</p></div> </us-gaap:AdvertisingCostsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">The Company follows FASB ASC 260. Basic Earnings Per Share (“EPS”) is based on the weighted average number of common shares outstanding for the period, excluding the effects of any potentially dilutive securities. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted. Net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period.</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"> </p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">Basic and diluted loss per common share was calculated using the following number of shares:</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"> </p><table style="border-spacing:0;text-decoration:none;width:85%;white-space:normal;word-spacing:0px;border-collapse:collapse;;text-transform:none;color:rgb(0,0,0);text-align:left;font:10pt times new roman;margin-left:auto;orphans:2;letter-spacing:normal;margin-right:auto;text-indent:0px;-webkit-text-stroke-width:0px" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31,</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Weighted average number of common shares outstanding</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; BORDER-BOTTOM: 3px double;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 3px double; TEXT-ALIGN: right;">3,461,022</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; PADDING-BOTTOM: 3px;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; BORDER-BOTTOM: 3px double;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 3px double; TEXT-ALIGN: right;">3,461,022</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; PADDING-BOTTOM: 3px;"> <p style="margin:0px"> </p></td></tr></table></div> </us-gaap:EarningsPerSharePolicyTextBlock> | |||||||||||||||||||||
<us-gaap:RevenueRecognitionPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="text-align:justify;margin:0px;text-indent:45px">Not applicable.</p></div> </us-gaap:RevenueRecognitionPolicyTextBlock> | |||||||||||||||||||||
<fccc:CommonStockWarrantsPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="text-align:justify;margin:0px;text-indent:45px">None outstanding.</p></div> </fccc:CommonStockWarrantsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="text-align:justify;margin:0px;text-indent:45px">The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.</p></div> </us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:45px;-webkit-text-stroke-width:0px">Basic and diluted loss per common share was calculated using the following number of shares:</p><p style="font-size:13px;text-decoration:none;font-family:times new roman;font-variant:normal;white-space:normal;word-spacing:0px;text-transform:none;font-weight:400;color:rgb(0,0,0);font-style:normal;text-align:justify;orphans:2;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px"> </p><table style="border-spacing:0;text-decoration:none;width:85%;white-space:normal;word-spacing:0px;border-collapse:collapse;;text-transform:none;color:rgb(0,0,0);text-align:left;font:10pt times new roman;margin-left:auto;orphans:2;letter-spacing:normal;margin-right:auto;text-indent:0px;-webkit-text-stroke-width:0px" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31,</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Weighted average number of common shares outstanding</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; BORDER-BOTTOM: 3px double;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 3px double; TEXT-ALIGN: right;">3,461,022</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; PADDING-BOTTOM: 3px;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap; BORDER-BOTTOM: 3px double;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 3px double; TEXT-ALIGN: right;">3,461,022</td></tr></table></div> </us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><table style="border-spacing:0;text-decoration:none;width:85%;white-space:normal;word-spacing:0px;border-collapse:collapse;;text-transform:none;color:rgb(0,0,0);text-align:left;font:10pt times new roman;margin-left:auto;orphans:2;letter-spacing:normal;margin-right:auto;text-indent:0px;-webkit-text-stroke-width:0px" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Net Operating Losses</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">177,287</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">170,163</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(255,255,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Valuation Allowance</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(177,287</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(170,163</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td></tr></table></div> </us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><table style="border-spacing:0;text-decoration:none;width:85%;white-space:normal;word-spacing:0px;border-collapse:collapse;;text-transform:none;color:rgb(0,0,0);text-align:left;font:10pt times new roman;margin-left:auto;orphans:2;letter-spacing:normal;margin-right:auto;text-indent:0px;-webkit-text-stroke-width:0px" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Current Tax Expense (Benefit)</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">-</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">-</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(255,255,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Deferred Tax Expense (Benefit)</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(7,124</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">4,337</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Increase (Decrease) in Valuation Allowance</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">7,124</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">(4,337</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">)</td></tr> <tr style="height:15px;background-color:rgb(255,255,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Net tax provision</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">$</td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr></table></div> </us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="From2019-04-01to2020-03-31"> <div style="font: 10pt TIMES NEW ROMAN; text-align: left;"><table style="border-spacing:0;text-decoration:none;width:85%;white-space:normal;word-spacing:0px;border-collapse:collapse;;text-transform:none;color:rgb(0,0,0);text-align:left;font:10pt times new roman;margin-left:auto;orphans:2;letter-spacing:normal;margin-right:auto;text-indent:0px;-webkit-text-stroke-width:0px" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="6"> <p style="text-align:center;margin:0px"><strong>March 31</strong></p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2020</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td> <td style="WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="hdcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: 1px solid; TEXT-ALIGN: center;" colspan="2"> <p style="text-align:center;margin:0px"><strong>2019</strong></p></td> <td style="WHITE-SPACE: nowrap; PADDING-BOTTOM: 1px;"> <p style="margin:0px"> </p></td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Federal statutory rate</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">21.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">21.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td></tr> <tr style="height:15px;background-color:rgb(255,255,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">State tax, net of federal tax effect</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">5.93</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">5.53</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td></tr> <tr style="height:15px;background-color:rgb(204,238,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Valuation allowance</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td colspan="2"> <p style="text-align:right;margin:0px">(26.93</p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;"> <p style="margin:0px">%) </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td colspan="2"> <p style="text-align:right;margin:0px">(26.53</p></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;"> <p style="margin:0px">%)</p></td></tr> <tr style="height:15px;background-color:rgb(255,255,255)"> <td style="VERTICAL-ALIGN: top;"> <p style="text-align:justify;margin:0px">Effective tax rate</p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td style="WIDTH: 1%; WHITE-SPACE: nowrap;"> <p style="margin:0px"> </p></td> <td class="ffcell" style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right;">0.0</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap;">%</td></tr></table></div> </us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock> | |||||||||||||||||||||
<us-gaap:CashFDICInsuredAmount contextRef="AsOf2020-03-31" unitRef="USD" decimals="0"> 250000 </us-gaap:CashFDICInsuredAmount> | |||||||||||||||||||||
<us-gaap:CashUninsuredAmount contextRef="AsOf2020-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:CashUninsuredAmount> | |||||||||||||||||||||
<us-gaap:AdvertisingExpense contextRef="From2019-04-01to2020-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:AdvertisingExpense> | |||||||||||||||||||||
<us-gaap:AdvertisingExpense contextRef="From2018-04-01to2019-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:AdvertisingExpense> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwards contextRef="AsOf2020-03-31" unitRef="USD" decimals="0"> 177287 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwards> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwards contextRef="AsOf2019-03-31" unitRef="USD" decimals="0"> 170163 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwards> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="AsOf2020-03-31" unitRef="USD" decimals="0"> -177287 </us-gaap:DeferredTaxAssetsValuationAllowance> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="AsOf2019-03-31" unitRef="USD" decimals="0"> -170163 </us-gaap:DeferredTaxAssetsValuationAllowance> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsNet contextRef="AsOf2020-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:DeferredTaxAssetsNet> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsNet contextRef="AsOf2019-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:DeferredTaxAssetsNet> | |||||||||||||||||||||
<us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="From2019-04-01to2020-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:CurrentIncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="From2018-04-01to2019-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:CurrentIncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="From2019-04-01to2020-03-31" unitRef="USD" decimals="0"> -7124 </us-gaap:DeferredIncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="From2018-04-01to2019-03-31" unitRef="USD" decimals="0"> 4337 </us-gaap:DeferredIncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:ValuationAllowancesAndReservesPeriodIncreaseDecrease contextRef="From2019-04-01to2020-03-31" unitRef="USD" decimals="0"> 7124 </us-gaap:ValuationAllowancesAndReservesPeriodIncreaseDecrease> | |||||||||||||||||||||
<us-gaap:ValuationAllowancesAndReservesPeriodIncreaseDecrease contextRef="From2018-04-01to2019-03-31" unitRef="USD" decimals="0"> -4337 </us-gaap:ValuationAllowancesAndReservesPeriodIncreaseDecrease> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="From2019-04-01to2020-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="From2018-04-01to2019-03-31" unitRef="USD" decimals="0"> 0 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="From2019-04-01to2020-03-31" unitRef="Pure" decimals="INF"> 0.21 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="From2018-04-01to2019-03-31" unitRef="Pure" decimals="INF"> 0.21 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes contextRef="From2019-04-01to2020-03-31" unitRef="Pure" decimals="INF"> 0.0593 </us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes contextRef="From2018-04-01to2019-03-31" unitRef="Pure" decimals="INF"> 0.0553 </us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="From2019-04-01to2020-03-31" unitRef="Pure" decimals="INF"> -0.2693 </us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="From2018-04-01to2019-03-31" unitRef="Pure" decimals="INF"> -0.2653 </us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits contextRef="From2019-04-01to2020-03-31" unitRef="Pure" decimals="INF"> 0 </us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits> | |||||||||||||||||||||
<us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits contextRef="From2018-04-01to2019-03-31" unitRef="Pure" decimals="INF"> 0 </us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign contextRef="AsOf2020-03-31" unitRef="USD" decimals="0"> 633252 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal contextRef="AsOf2020-03-31" unitRef="USD" decimals="0"> 747753 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal> | |||||||||||||||||||||
</xbrli:xbrl> |