5. RELATED PARTY TRANSACTIONS |
12 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
During the period from August 25, 2014 (inception) through March 31, 2015, FFIN issued 100,000 shares and 400,000 shares, respectively, to Mr. Turlov in exchange for capital contributions to FFIN of $100,000 and $400,000, respectively. At the times such contributions were made Mr. Turlov was the president, a director and the sole owner of FFIN.
During the year ended March 31, 2016, Mr. Turlov made a capital contribution of $180,000 to the Company. At the time such contribution was made, Mr. Turlov was the Chief Executive Officer, Chairman of the board, and majority shareholder of the Company.
During the year ended March 31, 2016, FFIN recorded legal expenses in amount of $56,098 from a legal firm, where one member of FFIN’s board of directors was employed. On June 9, 2015, this individual resigned from the FFIN board of directors. |