AMERICAN FIRST FINANCIAL INC
CIK:0001156884|SEC Filings
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Earnings per Share
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12 Months Ended |
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Mar. 31, 2013
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| Earnings Per Share [Abstract] | |
| Earnings per Share |
Note 8 Earnings per Share
Due to the net operating loss, all options and conversions are considered anti-dilutive and therefore only basic calculation is provided. Basic weighted average per share excludes items that would have been included in the fully-diluted weighted average shares. Shares that would be included would be, if exercised, options held by Officers and Directors (2,300,000 common share equivalents). |
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Balance Sheets (Unaudited) (USD $)
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Mar. 31, 2013
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Mar. 31, 2012
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|---|---|---|
| Current assets | ||
| Cash | $ 479 | $ 579 |
| Total current assets | 479 | 579 |
| Property & equipment, net of accumulated depreciation of $11,298 and $9,839, respectively | 375 | |
| Intangibles | 10,000 | |
| Total Assets | 479 | 10,954 |
| Current liabilities | ||
| Accounts payable and accrued expenses | 3,072 | 3,855 |
| Shareholder loans | 98,463 | 82,808 |
| Notes payable, current | ||
| Demand notes payable | ||
| Total current liabilities | 101,535 | 86,663 |
| Notes payable | ||
| Total liabilities | 101,535 | 86,663 |
| Stockholders' Equity | ||
| Redeemable Convertible Preferred Stock: $5 par 5,000,000 shares authorized (Series A & B) 0 and 0 Series B shares issued and outstanding, respectively | ||
| Common Stock, $.05 par value, 50,000,000 shares 24,982,205 and 24,982,205 shares issued and outstanding, respectively | $ 1,249,110 | $ 1,249,110 |
| Additional paid-in capital | (908) | (908) |
| Accumulated Deficit | (1,349,258) | (1,323,912) |
| Total stockholders' equity | (101,056) | (75,710) |
| Total Liabilities and Stockholders' Equity | $ 479 | $ 10,954 |