v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Accounting

a)Basis of Accounting

 

The Company’s financial statements have been prepared using the accrual method of accounting except for cash flow information. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein.

 
Cash and Cash Equivalents

b)Cash and Cash Equivalents

 

Cash consists of cash on deposit with high quality, major financial institutions.  For purposes of the balance sheets and statements of cash flows, the Company considers all highly liquid debt instruments purchased with maturity of 90 days or less to be cash equivalents. At December 31, 2025 and 2024, the Company had no items that were cash equivalents.

 
Foreign Currency Accounting

c)Foreign Currency Accounting

 

The Company’s functional currency is the U.S. dollar.  Branch office activities are generally in Canadian dollars. Transactions in Canadian currency are translated into U.S. dollars as follows:

 

i)monetary items at the exchange rate prevailing at the balance sheet date;

 

ii)non-monetary items at the historical exchange rate; and

 

iii)revenue and expense items at the rate in effect of the date of transactions.

 

Gains and losses arising on the settlement of foreign currency denominated transactions or balances are recorded in the statements of operations.

 
Fair Value of Financial Instruments

d)Fair Value of Financial Instruments

 

ASC 820, Fair Value Measurement establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value.  The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include:

 

■Level 1 – defined as observable inputs such as quoted prices in active markets;

 

■Level 2 – defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

 

■Level 3 – defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

The Company’s financial instruments consist of cash, accounts payable and accrued liabilities and due to related parties. The Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. Pursuant to ASC 820, Fair Value Measurement and ASC 825, Financial Instruments the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The carrying value of accounts payable and accrued liabilities and due to related parties approximates its fair value due to the short term maturity and would be considered a Level 3 measure of fair value.

 
Use of Estimates and Assumptions

e)Use of Estimates and Assumptions

 

The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures.  By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant.  Significant areas requiring management’s estimates and assumptions are determining the fair value of transactions involving related parties and common stock, and determination of stage of development of intellectual property.  Actual results may differ from the estimates.

 
Basic and Diluted Earnings Per Share

f)Basic and Diluted Earnings Per Share

 

The Company reports basic earnings or loss per share in accordance with ASC 260, Earnings Per Share. Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during the period. The Company uses the Treasury Stock method to estimate the dilutive impact of options, warrants and other dilutive instruments, if any. Where the Company has generated net losses, the impact of including potential shares from outstanding options and warrants would be anti-dilutive and therefore basic net loss per share is equal to diluted new loss per share.

 
Income Taxes

g)Income Taxes

 

The Company uses the asset and liability method of accounting for income taxes in accordance with ASC 740, Income Taxes.  This standard requires the use of an asset and liability approach for financial accounting and reporting on income taxes.  If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized.

 
Stock-Based Compensation

h)Stock-Based Compensation

 

Stock-based compensation is accounted for in accordance with ASC 718 Compensation – Stock Compensation whereby a compensation charge based on the fair value of the equity instruments issued, measured at the grant date, is recorded against earnings over the period during which the employee is required to perform the services in exchange for the award (generally the vesting period).

 

The Company uses the Black-Scholes pricing model as a method for determining the estimated fair value for all stock options awarded to employees, officers, directors and consultants. The expected term of the options is based upon an evaluation of historical and expected future exercise behavior. The risk-free interest rate is based on rates published by the government for bonds with a maturity similar to the expected remaining life of the options at the valuation date. Volatility is determined based upon historical volatility of the Company’s stock and adjusted if future volatility is expected to vary from historical experience. The dividend yield is assumed to be none as the Company has not paid dividends nor does the Company anticipate paying any dividends in the foreseeable future.

 
Related Party Transactions

i)Related Party Transactions

 

In accordance with ASC 850, Related Party Disclosures the Company discloses: the nature of the related party relationship(s) involved; a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

 
Research and Development

j)Research and Development

 

Research and development costs are expenses as incurred.

 
Recent Accounting Pronouncements

k)Recent Accounting Pronouncements

 

The Company has implemented all applicable new accounting pronouncements that are in effect. Those pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company 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.