Cover
Cover | 9 Months Ended |
Sep. 30, 2022 shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Quarterly Report | true |
Document Transition Report | false |
Document Period End Date | Sep. 30, 2022 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2022 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 000-30451 |
Entity Registrant Name | ELINE ENTERTAINMENT GROUP, INC. |
Entity Central Index Key | 0001043150 |
Entity Tax Identification Number | 88-0429856 |
Entity Incorporation, State or Country Code | WY |
Entity Address, Address Line One | 7339 E. Williams Drive |
Entity Address, Address Line Two | Unit 26496 |
Entity Address, City or Town | Scottsdale |
Entity Address, State or Province | AZ |
Entity Address, Postal Zip Code | 85255 |
City Area Code | 602 |
Local Phone Number | 793.8058 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Entity Shell Company | true |
Entity Common Stock, Shares Outstanding | 8,264,529,727 |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash | $ 0 | $ 0 |
Total Assets | 0 | 0 |
Current Liabilities: | ||
Loan payable – related party | 2,501 | 0 |
Total Liabilities | 2,501 | 0 |
Stockholders' Deficit: | ||
Common stock, $0.001 par value; 20,000,000,000 shares authorized, 8,264,529,727 shares issued and outstanding | 8,264,530 | 8,264,530 |
Additional paid-in capital | 6,826,159 | 6,807,446 |
Accumulated deficit | (15,093,190) | (15,071,976) |
Total Stockholders’ Deficit | (2,501) | 0 |
Total Liabilities and Stockholders' Deficit | 0 | 0 |
Preferred Stock [Member] | ||
Stockholders' Deficit: | ||
Preferred Stock, Value, Issued | 0 | 0 |
Series C Preferred Stock [Member] | ||
Stockholders' Deficit: | ||
Preferred Stock, Value, Issued | 0 | 0 |
Series D Preferred Stock [Member] | ||
Stockholders' Deficit: | ||
Preferred Stock, Value, Issued | $ 0 | $ 0 |
Condensed Balance Sheets (Una_2
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 20,000,000,000 | 20,000,000,000 |
Common Stock, Shares, Issued | 8,264,529,727 | 8,264,529,727 |
Common Stock, Shares, Outstanding | 8,264,529,727 | 8,264,529,727 |
Preferred Stock [Member] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Series C Preferred Stock [Member] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Series D Preferred Stock [Member] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 1 | 0 |
Preferred Stock, Shares Outstanding | 1 | 0 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Operating Expenses: | ||||
General & administrative expenses | $ 2,501 | $ 0 | $ 21,214 | $ 0 |
Total operating expenses | 2,501 | 0 | 21,214 | 0 |
Loss from operations | (2,501) | 0 | (21,214) | 0 |
Loss before income taxes | (2,501) | 0 | (21,214) | 0 |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (2,501) | $ 0 | $ (21,214) | $ 0 |
Condensed Statements of Opera_2
Condensed Statements of Operations (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Income Statement [Abstract] | ||||
Earnings Per Share, Basic | $ 0 | $ 0 | $ 0 | $ 0 |
Earnings Per Share, Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding, Basic | 8,264,529,727 | 8,264,529,727 | 8,264,529,727 | 8,264,529,727 |
Weighted Average Number of Shares Outstanding, Diluted | 8,264,529,727 | 8,264,529,727 | 8,264,529,727 | 8,264,529,727 |
Statements of Changes in Stockh
Statements of Changes in Stockholders Deficit (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 0 | $ 8,264,530 | $ 6,807,446 | $ (15,071,976) | $ 0 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 0 | 8,264,529,727 | |||
Net loss | $ 0 | $ 0 | 0 | 0 | 0 |
Ending balance, value at Mar. 31, 2021 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Ending Balance at Mar. 31, 2021 | 0 | 8,264,529,727 | |||
Beginning balance, value at Dec. 31, 2020 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 0 | 8,264,529,727 | |||
Net loss | 0 | ||||
Ending balance, value at Sep. 30, 2021 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Ending Balance at Sep. 30, 2021 | 0 | 8,264,529,727 | |||
Beginning balance, value at Mar. 31, 2021 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2021 | 0 | 8,264,529,727 | |||
Net loss | $ 0 | $ 0 | 0 | 0 | 0 |
Ending balance, value at Jun. 30, 2021 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Ending Balance at Jun. 30, 2021 | 0 | 8,264,529,727 | |||
Net loss | $ 0 | $ 0 | 0 | 0 | 0 |
Ending balance, value at Sep. 30, 2021 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Ending Balance at Sep. 30, 2021 | 0 | 8,264,529,727 | |||
Beginning balance, value at Dec. 31, 2021 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 0 | 8,264,529,727 | |||
Net loss | $ 0 | $ 0 | 0 | 0 | 0 |
Ending balance, value at Mar. 31, 2022 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Ending Balance at Mar. 31, 2022 | 0 | 8,264,529,727 | |||
Beginning balance, value at Dec. 31, 2021 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 0 | 8,264,529,727 | |||
Net loss | (21,214) | ||||
Ending balance, value at Sep. 30, 2022 | $ 0 | $ 8,264,530 | 6,826,159 | (15,093,190) | (2,501) |
Shares, Outstanding, Ending Balance at Sep. 30, 2022 | 1 | 8,264,529,727 | |||
Beginning balance, value at Mar. 31, 2022 | $ 0 | $ 8,264,530 | 6,807,446 | (15,071,976) | 0 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2022 | 0 | 8,264,529,727 | |||
Net loss | $ 0 | $ 0 | 0 | (18,713) | (18,713) |
Preferred stock issued – related party | 18,713 | 18,713 | |||
Stock Issued During Period, Shares, New Issues | 1 | ||||
Ending balance, value at Jun. 30, 2022 | $ 0 | $ 8,264,530 | 6,826,159 | (15,090,689) | 0 |
Shares, Outstanding, Ending Balance at Jun. 30, 2022 | 1 | 8,264,529,727 | |||
Net loss | (2,501) | (2,501) | |||
Ending balance, value at Sep. 30, 2022 | $ 0 | $ 8,264,530 | $ 6,826,159 | $ (15,093,190) | $ (2,501) |
Shares, Outstanding, Ending Balance at Sep. 30, 2022 | 1 | 8,264,529,727 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities: | ||||||
Net loss | $ (2,501) | $ 0 | $ 0 | $ 0 | $ (21,214) | $ 0 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Preferred stock issued – related party | 18,713 | 0 | ||||
Net cash used in operating activities | (2,501) | 0 | ||||
Cash flows from investing activities: | 0 | 0 | ||||
Cash flows from financing activities: | ||||||
Loan payable – related party | 2,501 | 0 | ||||
Net cash provided by financing activities | 2,501 | 0 | ||||
Net change in cash | 0 | 0 | ||||
Cash, beginning of period | $ 0 | $ 0 | 0 | 0 | ||
Cash, end of period | $ 0 | $ 0 | $ 0 | $ 0 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Eline Entertainment Group, Inc. (OTC “EEGI”) was incorporated under the laws of the State of Nevada on June 12, 1997, as Rapid Retrieval Systems, Inc. On April 25, 2001, the Company filed an amendment to its Articles of Incorporation and changed its name to Eline Entertainment Group, Inc. In 2017, the Company converted out of the State of Nevada and domiciled in the State of Wyoming. Eline Entertainment Group, Inc., Inc. operated as food service business specializing in sports and entertainment production and distribution. On May 11, 2022, the First Judicial District Court of Laramie, Wyoming granted the Application for Appointment of Custodian as a result of the absence of a functioning board of directors and the revocation of the Company’s charter. The order appointed Rhonda Keaveney (the “Custodian”) custodian with the right to appoint officers and directors, negotiate and compromise debt, execute contracts, issue stock, and authorize new classes of stock. The court awarded custodianship to the Custodian based on the absence of a functioning board of directors, revocation of the company’s charter, and abandonment of the business. At this time, the Custodian appointed Rhonda Keaveney as sole officer and director. The Custodian attempted to contact the Company’s officers and directors through letters, emails, and phone calls, with no success. Small Cap Compliance, LLC (‘SCC”) |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of and for the nine month period ending September 30, 2022 and not necessarily indicative of the results to be expected for the full year ending December 31, 2022. These unaudited financial statements should be read in conjunction with the financial statements and related notes included in the Company’s financial statements for the year ended December 31, 2021. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Concentration of credit risk Financial instruments which potentially subject the Company to concentration of credit risk consist of cash deposits and customer receivables. The Company maintains cash with various major financial institutions. The Company performs periodic evaluations of the relative credit standing of these institutions. To reduce risk, the Company performs credit evaluations of its customers and maintains reserves when necessary for potential credit losses. Cash and cash equivalents We consider all highly liquid securities with original maturities of three months or less when acquired to be cash equivalents. There were no cash equivalents as of September 30, 2022 and December 31, 2021. Net Income (Loss) Per Common Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. Recent Accounting Pronouncements The Company has implemented all applicable accounting pronouncements that are in effect. These 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. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 - GOING CONCERN The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has no revenue and has an accumulated a deficit as of September 30, 2022. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties. |
PREFERRED STOCK
PREFERRED STOCK | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
PREFERRED STOCK | NOTE 4 - PREFERRED STOCK The Company has 1,000,000 no On May 24, 2022, the Company filed Articles of Amendment, with the State of Wyoming, increasing its authorized Preferred Stock from 5,000,000 shares to 10,000,000 shares. In addition, the Company designated 1,000,000 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 - RELATED PARTY TRANSACTIONS In May 2022, Ms. Keaveney was issued 1 As of September 30, 2022, the Company owes Ms. Keaveney $ 2,501 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of and for the nine month period ending September 30, 2022 and not necessarily indicative of the results to be expected for the full year ending December 31, 2022. These unaudited financial statements should be read in conjunction with the financial statements and related notes included in the Company’s financial statements for the year ended December 31, 2021. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Concentration of credit risk | Concentration of credit risk Financial instruments which potentially subject the Company to concentration of credit risk consist of cash deposits and customer receivables. The Company maintains cash with various major financial institutions. The Company performs periodic evaluations of the relative credit standing of these institutions. To reduce risk, the Company performs credit evaluations of its customers and maintains reserves when necessary for potential credit losses. |
Cash and cash equivalents | Cash and cash equivalents We consider all highly liquid securities with original maturities of three months or less when acquired to be cash equivalents. There were no cash equivalents as of September 30, 2022 and December 31, 2021. |
Net Income (Loss) Per Common Share | Net Income (Loss) Per Common Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has implemented all applicable accounting pronouncements that are in effect. These 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. |
PREFERRED STOCK (Details Narrat
PREFERRED STOCK (Details Narrative) - shares | Sep. 30, 2022 | Dec. 31, 2021 |
Series C Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Series D Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 1 | 0 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - Keaveney [Member] - USD ($) | 5 Months Ended | |
May 31, 2022 | Sep. 30, 2022 | |
Related Party Transaction [Line Items] | ||
Due to Related Parties | $ 2,501 | |
Series D Preferred Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 1 |