BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
Nov. 30, 2011
BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF BUSINESS AND ORGANIZATION Amwest Imaging Incorporated (the "Company"), was incorporated in the State of Nevada on April 7, 2010. The Company's original principal business objective was to provide document digitization services to businesses. On September 6, 2011, registrant completed the transactions of the Share Exchange Agreement of September 6, 2011, between Amwest Imaging Incorporated, a Nevada corporation, and the shareholders of Instant Website Technology Inc. ("IWTI"). Accordingly, registrant acquired all of the issued and outstanding shares of Instant Website Technology Inc., in exchange for the issuance in the aggregate of 6,060,000 shares of common stock of the registrant. As a result of the Share Exchange Agreement, Instant Website Technology Inc., Inc. became a wholly-owned subsidiary of registrant. Instant Website Technology Inc.'s primary business is providing relationship building tools and processes that help any business cultivate profitable relationships with customers, all through web-based solutions. These web based solutions were created by the Company specifically for businesses in need of a website and related online marketing tools. The primary component of this web based solution, an on-demand fold out turn-key website for immediate use. The websites designed are highly advanced, niche creations that exceed the needs of small businesses in the target market. All of the websites developed are custom made from the design to the coding used. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS The accompanying interim condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at November 30, 2011, and for all periods presented herein, have been made. All subsidiaries of the Company have been consolidated into these statements with intercompany transactions being eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's February 28, 2011 audited financial statements. The results of operations for the periods ended November 30, 2011 are not necessarily indicative of the operating results for the full years. USE OF ESTIMATES The Financial Statements have been prepared in conformity with U.S. GAAP, which requires using management's best estimates and judgments where appropriate. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these good faith estimates and judgments. FINANCIAL INSTRUMENTS The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820 "Fair Value Measurements and Disclosures" (ASC 820) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: * Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities * Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. * Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of November 30, 2011. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. As of November 30, 2011 the fair values of the Company's financial instruments approximate their historical carrying amount. CASH AND CASH EQUIVALENTS Cash and cash equivalents includes all cash deposits and highly liquid financial instruments with a maturity of three months or less. ACCOUNTS RECEIVABLE, CREDIT The Company currently supplies their web solutions on a monthly basis, billing on the month of services and collection on customer accounts through credit cards or direct payments. The Company does not issue credit on services provided, therefore there are no accounts receivable. No allowance for doubtful accounts is considered necessary to be established for amounts that may not be recoverable, since there has been no credit issued. SOFTWARE DEVELOPMENT COSTS AND CAPITAL TECHNOLOGY The Company accounts for software development costs in accordance with several accounting pronouncements, including FASB ASC 730, Research and Development, FASB ASC 350-40, Internal-Use Software, FASB 985-20, Costs of Computer Software to be Sold, Leased, or Marketed and FASB ASC 350-50, Website Development Costs. The Company has capitalized the cost of the technology license purchased from an unrelated third party. At the time of purchase the technology was available to be marketed. As such additional costs to customize, modify and betterment to the existing product was charged to expense as it was incurred Capitalized software costs are stated at cost. The estimated useful life of costs capitalized is evaluated for each specific project and is currently being amortized over five years. Amortization is computed on a straight line basis. The carrying amount of all long-lived assets is evaluated periodically to determine if adjustment to the amortization period or the unamortized balance is warranted. Based upon its most recent analysis, the Company believes that no impairment of the proprietary software existed at November 30, 2011. LONG-LIVED ASSETS AND INTANGIBLE PROPERTY: Long-lived assets such as property, equipment and identifiable intangibles are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable. When required impairment losses on assets to be held and used are recognized based on the fair value of the asset. The fair value is determined based on estimates of future cash flows, market value of similar assets, if available, or independent appraisals, if required. If the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount and fair value of the asset. When fair values are not available, the Company estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets. The Company did not recognize any impairment losses for any periods presented. SHARE-BASED PAYMENTS Share-based payments to employees, including grants of employee stock options are recognized as compensation expense in the financial statements based on their fair values, in accordance with FASB ASC Topic 718. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company had no common stock options or common stock equivalents granted or outstanding for all periods presented. The company may issue shares as compensation in the future periods for employee services. The Company may issue restricted stock to consultants for various services. Cost for these transactions will be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock is to be measured at the earlier of (i) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached or (ii) the date at which the counterparty's performance is complete. The company has issue shares as compensation in the future period for services associated with the registration of the common shares. REVENUE RECOGNITION The Company recognizes revenue on arrangements in accordance with FASB ASC No. 605, Revenue Recognition. In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and collectability is reasonably assured. Consideration for future services are made by customers in advance of those services being provided. All accounts are currently on a month to month service; therefore revenue is recognized ratably over the period that the services are subscribed, the current month. The Company does not offer annual or other term agreements; therefore there is no unearned portion or deferral of revenue. Services are billed in advance of the period those services are provided. The Company has not issued guarantees or other warrantees on the advertising subscription success or results. The Company has not experienced any refund requests or committed to any adjustments for terminated subscriptions. The Company does not believe that there is any required liability. The Company has sold their bundled platform to two customers during the period ended November 30, 2011. These sales were without recourse. There were no provisions for licensing terms, modifications, training or other post service contract arrangements. Since sale was final, revenue was recognized on delivery. ADVERTISING The costs of advertising are expensed as incurred. Advertising expense was $0 for the nine months ended November 30, 2011 and 2010. Advertising expenses, when incurred are to be included in the Company's operating expenses. RESEARCH AND DEVELOPMENT The Company expenses research and development costs when incurred. Research and development costs include engineering and testing of product and outputs. Indirect costs related to research and developments are allocated based on percentage usage to the research and development. Research and development costs were $14,535, $0, $363,520 and $0 for the three and nine months ending November 30, 2011. INCOME TAXES The Company accounts for income taxes under the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") No. 740, Income Taxes ("ASC 740"). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share calculations are determined by dividing net income (loss) by the weighted average number of shares outstanding during the year. Diluted earnings (loss) per share calculations are determined by dividing net income (loss) by the weighted average number of shares. The Company does not have any potentially dilutive instruments and, thus, anti-dilution issues are not applicable.

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Nov. 30, 2011

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1.  BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NATURE OF BUSINESS AND ORGANIZATION

Amwest Imaging Incorporated (the "Company"), was incorporated in the State of

Nevada on April 7, 2010.

The Company's original principal business objective was to provide document

digitization services to businesses. On September 6, 2011, registrant completed

the transactions of the Share Exchange Agreement of September 6, 2011, between

Amwest Imaging Incorporated, a Nevada corporation, and the shareholders of

Instant Website Technology Inc. ("IWTI"). Accordingly, registrant acquired all

of the issued and outstanding shares of Instant Website Technology Inc., in

exchange for the issuance in the aggregate of 6,060,000 shares of common stock

of the registrant. As a result of the Share Exchange Agreement, Instant Website

Technology Inc., Inc. became a wholly-owned subsidiary of registrant.

Instant Website Technology Inc.'s primary business is providing relationship

building tools and processes that help any business cultivate profitable

relationships with customers, all through web-based solutions. These web based

solutions were created by the Company specifically for businesses in need of a

website and related online marketing tools. The primary component of this web

based solution, an on-demand fold out turn-key website for immediate use. The

websites designed are highly advanced, niche creations that exceed the needs of

small businesses in the target market. All of the websites developed are custom

made from the design to the coding used.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

The accompanying interim condensed financial statements have been prepared by

the Company without audit. In the opinion of management, all adjustments (which

include only normal recurring adjustments) necessary to present fairly the

financial position, results of operations, and cash flows at November 30, 2011,

and for all periods presented herein, have been made.

All subsidiaries of the Company have been consolidated into these statements

with intercompany transactions being eliminated.

Certain information and footnote disclosures normally included in financial

statements prepared in accordance with accounting principles generally accepted

in the United States of America have been condensed or omitted. It is suggested

that these condensed financial statements be read in conjunction with the

financial statements and notes thereto included in the Company's February 28,

2011 audited financial statements. The results of operations for the periods

ended November 30, 2011 are not necessarily indicative of the operating results

for the full years.

USE OF ESTIMATES

The Financial Statements have been prepared in conformity with U.S. GAAP, which

requires using management's best estimates and judgments where appropriate.

These estimates and judgments affect the reported amounts of assets and

liabilities and disclosure of contingent assets and liabilities at the date of

the financial statements. The estimates and judgments will also affect the

reported amounts for certain revenues and expenses during the reporting period.

Actual results could differ materially from these good faith estimates and

judgments.

FINANCIAL INSTRUMENTS

The Company's balance sheet includes certain financial instruments. The carrying

amounts of current assets and current liabilities approximate their fair value

because of the relatively short period of time between the origination of these

instruments and their expected realization.

Financial Accounting Standards Board (FASB) Accounting Standards Codification

(ASC) 820 "Fair Value Measurements and Disclosures" (ASC 820) defines fair value

as the exchange price that would be received for an asset or paid to transfer a

liability (an exit price) in the principal or most advantageous market for the

asset or liability in an orderly transaction between market participants on the

measurement date.. ASC 820 also establishes a fair value hierarchy that

distinguishes between (1) market participant assumptions developed based on

market data obtained from independent sources (observable inputs) and (2) an

entity's own assumptions about market participant assumptions developed based on

the best information available in the circumstances (unobservable inputs). The

fair value hierarchy consists of three broad levels, which gives the highest

priority to unadjusted quoted prices in active markets for identical assets or

liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The three levels of the fair value hierarchy are described below:

     *    Level 1 - Unadjusted quoted prices in active markets that are

          accessible at the measurement date for identical, unrestricted assets

          or liabilities

     *    Level 2 - Inputs other than quoted prices included within Level 1 that

          are observable for the asset or liability, either directly or

          indirectly, including quoted prices for similar assets or liabilities

          in active markets; quoted prices for identical or similar assets or

          liabilities in markets that are not active; inputs other than quoted

          prices that are observable for the asset or liability (e.g., interest

          rates); and inputs that are derived principally from or corroborated

          by observable market data by correlation or other means.

     *    Level 3 - Inputs that are both significant to the fair value

          measurement and unobservable.

Fair value estimates discussed herein are based upon certain market assumptions

and pertinent information available to management as of November 30, 2011. The

respective carrying value of certain on-balance-sheet financial instruments

approximated their fair values due to the short-term nature of these

instruments.

As of November 30, 2011 the fair values of the Company's financial instruments

approximate their historical carrying amount.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents includes all cash deposits and highly liquid financial

instruments with a maturity of three months or less.

ACCOUNTS RECEIVABLE, CREDIT

The Company currently supplies their web solutions on a monthly basis, billing

on the month of services and collection on customer accounts through credit

cards or direct payments. The Company does not issue credit on services

provided, therefore there are no accounts receivable. No allowance for doubtful

accounts is considered necessary to be established for amounts that may not be

recoverable, since there has been no credit issued.

SOFTWARE DEVELOPMENT COSTS AND CAPITAL TECHNOLOGY

The Company accounts for software development costs in accordance with several

accounting pronouncements, including FASB ASC 730, Research and Development,

FASB ASC 350-40, Internal-Use Software, FASB 985-20, Costs of Computer Software

to be Sold, Leased, or Marketed and FASB ASC 350-50, Website Development Costs.

The Company has capitalized the cost of the technology license purchased from an

unrelated third party. At the time of purchase the technology was available to

be marketed. As such additional costs to customize, modify and betterment to the

existing product was charged to expense as it was incurred

Capitalized software costs are stated at cost. The estimated useful life of

costs capitalized is evaluated for each specific project and is currently being

amortized over five years. Amortization is computed on a straight line basis.

The carrying amount of all long-lived assets is evaluated periodically to

determine if adjustment to the amortization period or the unamortized balance is

warranted. Based upon its most recent analysis, the Company believes that no

impairment of the proprietary software existed at November 30, 2011.

LONG-LIVED ASSETS AND INTANGIBLE PROPERTY:

Long-lived assets such as property, equipment and identifiable intangibles are

reviewed for impairment whenever facts and circumstances indicate that the

carrying value may not be recoverable. When required impairment losses on assets

to be held and used are recognized based on the fair value of the asset. The

fair value is determined based on estimates of future cash flows, market value

of similar assets, if available, or independent appraisals, if required. If the

carrying amount of the long-lived asset is not recoverable from its undiscounted

cash flows, an impairment loss is recognized for the difference between the

carrying amount and fair value of the asset. When fair values are not available,

the Company estimates fair value using the expected future cash flows discounted

at a rate commensurate with the risk associated with the recovery of the assets.

The Company did not recognize any impairment losses for any periods presented.

SHARE-BASED PAYMENTS

Share-based payments to employees, including grants of employee stock options

are recognized as compensation expense in the financial statements based on

their fair values, in accordance with FASB ASC Topic 718. That expense is

recognized over the period during which an employee is required to provide

services in exchange for the award, known as the requisite service period

(usually the vesting period). The Company had no common stock options or common

stock equivalents granted or outstanding for all periods presented. The company

may issue shares as compensation in the future periods for employee services.

The Company may issue restricted stock to consultants for various services. Cost

for these transactions will be measured at the fair value of the consideration

received or the fair value of the equity instruments issued, whichever is more

reliably measurable. The value of the common stock is to be measured at the

earlier of (i) the date at which a firm commitment for performance by the

counterparty to earn the equity instruments is reached or (ii) the date at which

the counterparty's performance is complete. The company has issue shares as

compensation in the future period for services associated with the registration

of the common shares.

REVENUE RECOGNITION

The Company recognizes revenue on arrangements in accordance with FASB ASC No.

605, Revenue Recognition. In all cases, revenue is recognized only when the

price is fixed or determinable, persuasive evidence of an arrangement exists,

the service is performed and collectability is reasonably assured.

Consideration for future services are made by customers in advance of those

services being provided. All accounts are currently on a month to month service;

therefore revenue is recognized ratably over the period that the services are

subscribed, the current month. The Company does not offer annual or other term

agreements; therefore there is no unearned portion or deferral of revenue.

Services are billed in advance of the period those services are provided.

The Company has not issued guarantees or other warrantees on the advertising

subscription success or results. The Company has not experienced any refund

requests or committed to any adjustments for terminated subscriptions. The

Company does not believe that there is any required liability.

The Company has sold their bundled platform to two customers during the period

ended November 30, 2011. These sales were without recourse. There were no

provisions for licensing terms, modifications, training or other post service

contract arrangements. Since sale was final, revenue was recognized on delivery.

ADVERTISING

The costs of advertising are expensed as incurred. Advertising expense was $0

for the nine months ended November 30, 2011 and 2010. Advertising expenses, when

incurred are to be included in the Company's operating expenses.

RESEARCH AND DEVELOPMENT

The Company expenses research and development costs when incurred. Research and

development costs include engineering and testing of product and outputs.

Indirect costs related to research and developments are allocated based on

percentage usage to the research and development. Research and development costs

were $14,535, $0, $363,520 and $0 for the three and nine months ending November

30, 2011.

INCOME TAXES

The Company accounts for income taxes under the Financial Accounting Standards

Board ("FASB") Accounting Standards Codification ("ASC") No. 740, Income Taxes

("ASC 740"). Under ASC 740, deferred tax assets and liabilities are recognized

for the future tax consequences attributable to differences between the

financial statement carrying amounts of existing assets and liabilities and

their respective tax bases. Deferred tax assets and liabilities are measured

using enacted tax rates expected to apply to taxable income in the years in

which those temporary differences are expected to be recovered or settled. Under

ASC 740, the effect on deferred tax assets and liabilities of a change in tax

rates is recognized in income in the period that includes the enactment date.

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share calculations are determined by dividing net

income (loss) by the weighted average number of shares outstanding during the

year. Diluted earnings (loss) per share calculations are determined by dividing

net income (loss) by the weighted average number of shares. The Company does not

have any potentially dilutive instruments and, thus, anti-dilution issues are

not applicable.

Amwest Imaging Inc 10-Q