theglobe.com (TGLO) 10-K 30 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)		12 Months Ended
		Dec. 31, 2017	Mar. 01, 2018	Jun. 30, 2017
Document Information [Line Items]
Document Type		10-K
Amendment Flag		false
Document Period End Date		Dec. 31, 2017
Document Fiscal Year Focus		2,017
Document Fiscal Period Focus		FY
Entity Registrant Name		THEGLOBE COM INC
Entity Central Index Key		1,066,684
Current Fiscal Year End Date		--12-31
Entity Well-known Seasoned Issuer		No
Entity Voluntary Filers		No
Entity Current Reporting Status		Yes
Entity Filer Category		Smaller Reporting Company
Entity Public Float	[1]			$ 117,243
Trading Symbol		TGLO
Entity Common Stock, Shares Outstanding			441,480,838
[1]	Includes voting stock held by third parties, which may be deemed to be beneficially owned by affiliates, but for which such affiliates have disclaimed beneficial ownership.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current Assets:
Cash	$ 440	$ 31,285
Prepaid expenses	0	4,936
Total current assets	440	36,221
Current Liabilities:
Accounts payable due to related party	0	769,570
Accounts payable	0	101
Accrued compensation due to related parties	0	130,769
Accrued expenses and other current liabilities	26,000	30,500
Accrued interest due to related party	0	427,878
Notes payable due to related party	0	600,000
Total current liabilities	26,000	1,958,818
Stockholders' Deficit:
Common stock, $0.001 par value; 500,000,000 shares authorized; 441,484,838 shares issued at December 31, 2017 and December 31, 2016	441,485	441,485
Additional paid in capital	296,594,037	294,301,845
Accumulated deficit	(297,061,082)	(296,665,927)
Total stockholders' deficit	(25,560)	(1,922,597)
Total liabilities and stockholders' deficit	$ 440	$ 36,221

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Common stock,par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	441,484,838	441,484,838

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net Revenue	$ 0	$ 0
Operating Expenses:
General and administrative	90,806	93,387
Related party transactions	240,000	240,000
Total Operating Expenses	330,806	333,387
Operating Loss from Continuing Operations	(330,806)	(333,387)
Other Income (Expense), net:
Related party interest expense	(63,974)	(54,644)
Nonoperating Income (Expense)	(63,974)	(54,644)
Income (Loss) from Continuing Operations Before Income Taxes	(394,780)	(388,031)
Income Taxes	0	0
Loss from Continuing Operations	(394,780)	(388,031)
Loss from Discontinued Operations, net of tax	(375)	(474)
Net Loss	$ (395,155)	$ (388,505)
Loss Per Share: Basic and Diluted:
Continuing Operations (in dollars per share)	$ 0	$ 0
Discontinued Operations (in dollars per share)	$ 0	$ 0
Weighted Average Common Shares Outstanding	441,484,838	441,484,838

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Total	Common Stock[Member]	Additional Paid-inCapital [Member]	AccumulatedDeficit [Member]
Balance at Dec. 31, 2015	$ (1,534,092)	$ 441,485	$ 294,301,845	$ (296,277,422)
Balance (in shares) at Dec. 31, 2015		441,484,838
Net Loss	(388,505)	$ 0	0	(388,505)
Balance at Dec. 31, 2016	(1,922,597)	$ 441,485	294,301,845	(296,665,927)
Balance (in shares) at Dec. 31, 2016		441,484,838
Capital Contribution	2,292,192	$ 0	2,292,192	0
Net Loss	(395,155)	0	0	(395,155)
Balance at Dec. 31, 2017	$ (25,560)	$ 441,485	$ 296,594,037	$ (297,061,082)
Balance (in shares) at Dec. 31, 2017		441,484,838

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities:
Net Loss	$ (395,155)	$ (388,505)
Loss from discontinued operations	375	474
Loss from continuing operations	(394,780)	(388,031)
Changes in operating assets and liabilities:
Prepaid expenses	4,936	61
Accounts payable due to related party	240,000	240,000
Accounts payable	(100)	0
Accrued expenses and other current liabilities	(4,500)	4,500
Accrued interest due to related party	63,974	54,644
Net cash flows used in operating activities of continuing operations	(90,470)	(88,826)
Net cash flows used in operating activities of discontinued operations	(375)	(474)
Net cash flows used in operating activities	(90,845)	(89,300)
Cash Flows from Financing Activities:
Borrowings on Notes Payable	60,000	100,000
Net cash flows from financing activities	60,000	100,000
Net change in cash & cash equivalents	(30,845)	10,700
Cash & cash equivalents at beginning of period	31,285	20,585
Cash & cash equivalents at end of period	$ 440	$ 31,285

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	(1) ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES theglobe.com, inc. (the “Company,” “theglobe,” “we” or “us”) was incorporated on May 1, 1995 On December 20, 2017, Delfin Midstream LLC (“Delfin”) entered into a Common Stock Purchase Agreement with certain of our stockholders for the purchase of a total of 312,825,952 0.001 70.9 As a shell company, our operating expenses have consisted primarily of, and we expect them to continue to consist primarily of, customary public company expenses, including personnel, accounting, financial reporting, legal, audit and other related public company costs. As of December 31, 2017, as reflected in our accompanying Consolidated Balance Sheet, our current liabilities exceed our total assets. Additionally, we received a report from our independent registered public accountants, relating to our December 31, 2017 audited financial statements, containing an explanatory paragraph regarding our ability to continue as a going concern. We prefer to avoid filing for protection under the U.S. Bankruptcy Code. However, unless we are successful in raising additional funds through the offering of debt or equity securities, we may not be able to continue to operate as a going concern for any significant length of time in the future. Notwithstanding the above, we currently intend to continue operating as a public company and making all the requisite filings under the Exchange Act. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. These estimates and assumptions relate primarily to valuations of accounts payable and accrued expenses. Prepaid expenses at December 31, 2016 consist of prepaid insurance, which is amortized to expense over the policy periods. FASB Accounting Standards Codification Topic on Fair Value Measurements and Disclosure (“ASC 820”) requires that the Company disclose estimated fair values of its financial instruments. The carrying amount of certain of the Company’s financial instruments, including cash, accounts payable and accrued expenses, are a reasonable estimate of their fair values at December 31, 2017 and 2016, respectively, due to their short maturities. The Company estimates the fair value of each stock option at the grant date by using the Black Scholes option-pricing model using the following assumptions: no dividend yield; a risk-free interest rate based on the U.S. Treasury yield in effect at the time of grant; an expected option life based on historical and expected exercise behavior; and expected volatility based on the historical volatility of the Company’s stock price, over a time period that is consistent with the expected life of the option. The portion of the value that is ultimately expected to vest is recognized as expense over the service period. INCOME TAXES On December 22, 2017 the Tax Cuts and Jobs Act (the “Tax Act”) was enacted in the United States. Among its many provisions, the Tax Act reduces the U.S. corporate income tax rate from 35 21 20,845,000 The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases for operating loss and tax credit carryforwards. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated results of operations in the period that the tax change occurs. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The Company reports basic and diluted net income per common share in accordance with FASB ASC Topic 260, “Earnings Per Share.” Basic earnings per share is computed using the weighted average number of common shares outstanding during the period. Common equivalent shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). Common equivalent shares are excluded from the calculation if their effect is anti-dilutive. December 31, 2017 2016 Options to purchase common stock — — Management has determined that all recently issued accounting pronouncements will not have a material impact on the Company’s financial statements or do not apply to the Company’s operations.

LIQUIDITY AND GOING CONCERN CON

LIQUIDITY AND GOING CONCERN CONSIDERATIONS	12 Months Ended
	Dec. 31, 2017
Liquidity and Going Concern Disclosure [Abstract]
Liquidity and Going Concern Disclosure [Text Block]	(2) LIQUIDITY AND GOING CONCERN CONSIDERATIONS The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, the consolidated financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. However, for the reasons described below, Company management does not believe that cash on hand and cash flow generated internally by the Company will be adequate to fund its limited overhead and other cash requirements beyond a short period of time. These reasons raise substantial doubt about the Company’s ability to continue as a going concern. Since 2008, the Company was able to continue operating as a going concern due principally to funding of $ 500,000 2,437,000 50,000 10,000 50,000 At December 31, 2017, the Company had a net working capital deficit of approximately $ 26,000 On December 20, 2017, Michael S. Egan, our former Chief Executive Officer and majority stockholder, and certain of our other stockholders (each a “Seller” and collectively the “Sellers”) entered into a Common Stock Purchase Agreement (the “Purchase Agreement”) with Delfin. Pursuant to the terms of the Purchase Agreement, Delfin agreed to purchase from the Sellers an aggregate of 312,825,952 70.9 MANAGEMENT PLANS Management anticipates continued funding from Delfin as it determines the direction of the Company.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	DISCONTINUED OPERATIONS In March 2007, management and the Board of Directors of the Company decided to discontinue the operating, research and development activities of its VoIP telephony services business and terminate all of the remaining employees of the business. The Company’s decision to discontinue the operations of its VoIP telephony services business was based primarily on the historical losses sustained by this business, management’s expectations of continued losses for the foreseeable future and estimates of the amount of capital required to successfully monetize this business. All elements of its VoIP telephony services business shutdown plan were completed by the Company in 2007 except for the resolution of certain disputed vendor accounts payables, totaling approximately $ 1,000,000 During the fourth quarter of 2012, the Company re-evaluated all remaining liabilities of its VoIP telephony services business in light of the passage of time and applicable state statute of limitation laws. Based upon this re-evaluation, the Company derecognized accounts payable liabilities related to six (6) former telecommunication vendors totaling approximately $ 1,354,000 1,000,000 41,000

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2017
Accrued Liabilities [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	(4) ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES December 31, 2017 2016 Accrued legal and audit expense $ 26,000 $ 30,500

DEBT

DEBT	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	(5) DEBT December 31, 2017 2016 2008 Revolving Loan Notes due to a related party; due on demand $ — $ 500,000 March 2016 Promissory Note due to a related party; due on demand — 50,000 November 2016 Promissory Note due to a related party; due on demand — 50,000 March 2017 Promissory Note due to a related party; due on demand — — November 2017 Promissory Note due to a related party; due on demand — — $ 0 $ 600,000 The Company received fundings of $ 50 10 50 In March 2018, the Company executed a Promissory Note with Delfin for up to $ 50 15 8 payable on the maturity date, calculated on a 365/66 day year, as applicable On June 6, 2008, we and our subsidiaries, as guarantors, entered into a Revolving Loan Agreement with Dancing Bear, pursuant to which Dancing Bear may loan up to $ 500,000 100,000 400,000 0 423,233 50,000 As of December 31, 2017, the outstanding principal and accrued interest of $ 923,233

STOCK OPTION PLANS

STOCK OPTION PLANS	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(6) STOCK OPTION PLANS As of December 31, 2017, all of the Company’s stock option plans have terminated and there are no shares for grant under these plans. Remaining stock options outstanding and exercisable expired in August 2016. No stock options were granted by the Company or exercised during the years ended December 31, 2017 and 2016. Number of Weighted Weighted Aggregate Outstanding at December 31, 2016 0 $ $ — Granted — — Exercised — — Expired 0 Outstanding at December 31, 2017 — $ $ — Exercisable at December 31, 2017 — $ — Options available at December 31, 2017 — Number of Weighted Weighted Aggregate Outstanding at December 31, 2015 100,000 $ 0.14 0.6 years $ — Granted — — Exercised — — Expired (100,000) 0.14 Outstanding at December 31, 2016 0 $ $ — Exercisable at December 31, 2016 0 $ $ — Options available at December 31, 2016 0 No employee stock compensation expense was charged to operating expenses during the years ended December 31, 2017 or 2016. At December 31, 2017, there was no unrecognized compensation expense related to unvested stock options.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	(7) INCOME TAXES Year Ended December 31, 2017 2016 Continuing operations $ — $ — Discontinued operations — — $ — $ — Year Ended December 31, 2017 2016 Current: Federal $ — $ — State — — $ — $ — Deferred: Federal $ — $ — State — — Provision for income taxes $ — $ — Year Ended December 31, 2017 2016 Statutory federal income tax rate 34.00 % 34.00 % Change in tax rate (5,292.36) — Nondeductible items — — State income taxes, net of federal benefit 3.96 3.96 Change in valuation allowance 16,233.74 (37.96) Write-off of DTA under IRC 382 and 383 (10,979.35) — Other — Effective tax rate 0.00 % 0.00 % December 31, December 31, Deferred tax assets (liabilities): Net operating loss carryforwards $ — $ 62,959,000 Issuance of warrants 982,000 1,447,000 AMT and other tax credits — 352,000 Accrued expenses 29,000 335,000 Depreciation and amortization 10,000 15,000 Total gross deferred tax assets 1,021,000 65,108,000 Less: valuation allowance (1,021,000) (65,108,000) Total net deferred tax assets $ — $ — Because of the Company's lack of earnings history, the net deferred tax assets have been fully offset by a 100 65,108,000 (64,087,000) 147,000 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	(8) RELATED PARTY TRANSACTIONS In connection with the closing of the Tralliance Purchase Transaction, the Company also entered into a Master Services Agreement (“Services Agreement”) with Dancing Bear Investments, Inc. (“Dancing Bear”), an entity which is controlled by Mr. Egan. Under the terms of the Services Agreement, for a fee of $ 20,000 240,000 240,000 769,570 As discussed earlier in Note 5, “Debt,” during 2016 the Company borrowed a total of $ 100,000 4,645 In March 2018, the Company executed a Promissory Note with Delfin for up to $ 50 15 In order to help the Company make it through a liquidity crisis in 2008, Michael S. Egan, our former Chairman and Chief Executive Officer, agreed to defer receiving a portion of his 2008 salary, totaling $ 105,769 25,000 130,769

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	(9) SUBSEQUENT EVENTS The Company’s management evaluated subsequent events through the time of the filing of this report on Form 10-K. The Company’s management is not aware of any significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on its consolidated financial statements, except for the following. On March 9, 2018 the Company entered into a $ 50,000 15,000

ORGANIZATION AND SUMMARY OF S16

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Business Description Policy [Policy Text Block]	DESCRIPTION OF THE COMPANY theglobe.com, inc. (the “Company,” “theglobe,” “we” or “us”) was incorporated on May 1, 1995 On December 20, 2017, Delfin Midstream LLC (“Delfin”) entered into a Common Stock Purchase Agreement with certain of our stockholders for the purchase of a total of 312,825,952 0.001 70.9 As a shell company, our operating expenses have consisted primarily of, and we expect them to continue to consist primarily of, customary public company expenses, including personnel, accounting, financial reporting, legal, audit and other related public company costs. As of December 31, 2017, as reflected in our accompanying Consolidated Balance Sheet, our current liabilities exceed our total assets. Additionally, we received a report from our independent registered public accountants, relating to our December 31, 2017 audited financial statements, containing an explanatory paragraph regarding our ability to continue as a going concern. We prefer to avoid filing for protection under the U.S. Bankruptcy Code. However, unless we are successful in raising additional funds through the offering of debt or equity securities, we may not be able to continue to operate as a going concern for any significant length of time in the future. Notwithstanding the above, we currently intend to continue operating as a public company and making all the requisite filings under the Exchange Act.
Consolidation, Policy [Policy Text Block]	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. These estimates and assumptions relate primarily to valuations of accounts payable and accrued expenses.
Prepaid Expenses [Policy Text Block]	PREPAID EXPENSES Prepaid expenses at December 31, 2016 consist of prepaid insurance, which is amortized to expense over the policy periods.
Fair Value of Financial Instruments, Policy [Policy Text Block]	FAIR VALUE OF FINANCIAL INSTRUMENTS FASB Accounting Standards Codification Topic on Fair Value Measurements and Disclosure (“ASC 820”) requires that the Company disclose estimated fair values of its financial instruments. The carrying amount of certain of the Company’s financial instruments, including cash, accounts payable and accrued expenses, are a reasonable estimate of their fair values at December 31, 2017 and 2016, respectively, due to their short maturities.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	STOCK-BASED COMPENSATION The Company estimates the fair value of each stock option at the grant date by using the Black Scholes option-pricing model using the following assumptions: no dividend yield; a risk-free interest rate based on the U.S. Treasury yield in effect at the time of grant; an expected option life based on historical and expected exercise behavior; and expected volatility based on the historical volatility of the Company’s stock price, over a time period that is consistent with the expected life of the option. The portion of the value that is ultimately expected to vest is recognized as expense over the service period.
Income Tax, Policy [Policy Text Block]	INCOME TAXES On December 22, 2017 the Tax Cuts and Jobs Act (the “Tax Act”) was enacted in the United States. Among its many provisions, the Tax Act reduces the U.S. corporate income tax rate from 35 21 20,845,000 The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases for operating loss and tax credit carryforwards. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated results of operations in the period that the tax change occurs. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.
Earnings Per Share, Policy [Policy Text Block]	NET INCOME PER COMMON SHARE The Company reports basic and diluted net income per common share in accordance with FASB ASC Topic 260, “Earnings Per Share.” Basic earnings per share is computed using the weighted average number of common shares outstanding during the period. Common equivalent shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). Common equivalent shares are excluded from the calculation if their effect is anti-dilutive. December 31, 2017 2016 Options to purchase common stock — —
New Accounting Pronouncements, Policy [Policy Text Block]	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Management has determined that all recently issued accounting pronouncements will not have a material impact on the Company’s financial statements or do not apply to the Company’s operations.

ORGANIZATION AND SUMMARY OF S17

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Due to the anti-dilutive effect of potentially dilutive securities or common stock equivalents that could be issued, such securities were excluded from the diluted net income or loss calculation for all periods presented. Such potentially dilutive securities and common stock equivalents consisted of the following for the periods ended: December 31, 2017 2016 Options to purchase common stock — —

ACCRUED EXPENSES AND OTHER CU18

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accrued Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	Accrued expenses and other current liabilities consisted of the following: December 31, 2017 2016 Accrued legal and audit expense $ 26,000 $ 30,500

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Debt consists of notes payables due to a related party, as summarized below: December 31, 2017 2016 2008 Revolving Loan Notes due to a related party; due on demand $ — $ 500,000 March 2016 Promissory Note due to a related party; due on demand — 50,000 November 2016 Promissory Note due to a related party; due on demand — 50,000 March 2017 Promissory Note due to a related party; due on demand — — November 2017 Promissory Note due to a related party; due on demand — — $ 0 $ 600,000

STOCK OPTION PLANS (Tables)

STOCK OPTION PLANS (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Stock option activity during the years ended December 31, 2017 and December 31, 2016 was as follows: Number of Weighted Weighted Aggregate Outstanding at December 31, 2016 0 $ $ — Granted — — Exercised — — Expired 0 Outstanding at December 31, 2017 — $ $ — Exercisable at December 31, 2017 — $ — Options available at December 31, 2017 — Number of Weighted Weighted Aggregate Outstanding at December 31, 2015 100,000 $ 0.14 0.6 years $ — Granted — — Exercised — — Expired (100,000) 0.14 Outstanding at December 31, 2016 0 $ $ — Exercisable at December 31, 2016 0 $ $ — Options available at December 31, 2016 0

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule Of Income Tax Expense Benefit [Table Text Block]	The provision (benefit) for income taxes is summarized as follows: Year Ended December 31, 2017 2016 Continuing operations $ — $ — Discontinued operations — — $ — $ —
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The provision (benefit) for income taxes attributable to continuing operations was as follows: Year Ended December 31, 2017 2016 Current: Federal $ — $ — State — — $ — $ — Deferred: Federal $ — $ — State — — Provision for income taxes $ — $ —
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following is a reconciliation of the federal income tax provision at the federal statutory rate to the Company’s tax provision attributable to continuing operations: Year Ended December 31, 2017 2016 Statutory federal income tax rate 34.00 % 34.00 % Change in tax rate (5,292.36) — Nondeductible items — — State income taxes, net of federal benefit 3.96 3.96 Change in valuation allowance 16,233.74 (37.96) Write-off of DTA under IRC 382 and 383 (10,979.35) — Other — Effective tax rate 0.00 % 0.00 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2017 and 2016 are presented below. December 31, December 31, Deferred tax assets (liabilities): Net operating loss carryforwards $ — $ 62,959,000 Issuance of warrants 982,000 1,447,000 AMT and other tax credits — 352,000 Accrued expenses 29,000 335,000 Depreciation and amortization 10,000 15,000 Total gross deferred tax assets 1,021,000 65,108,000 Less: valuation allowance (1,021,000) (65,108,000) Total net deferred tax assets $ — $ —

ORGANIZATION AND SUMMARY OF S22

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to purchase common stock	0	0

ORGANIZATION AND SUMMARY OF S23

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 20, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Significant Accounting Policies [Line Items]
Entity Incorporation, Date of Incorporation			May 1, 1995
Common Stock, Par or Stated Value Per Share			$ 0.001	$ 0.001
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			35.00%	34.00%
Increase (Decrease) in Deferred Income Taxes			$ 20,845,000
Scenario, Plan [Member]
Significant Accounting Policies [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%
Delfin Midstream LLC [Member]
Significant Accounting Policies [Line Items]
Purchase of shares of Common Stock	312,825,952
Common Stock, Par or Stated Value Per Share	$ 0.001
Percentage of Common Stock	70.90%

LIQUIDITY AND GOING CONCERN C24

LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Details Textual) - USD ($)	1 Months Ended	12 Months Ended	78 Months Ended
	Dec. 20, 2017	Dec. 31, 2008	Jun. 30, 2015	Dec. 31, 2017	Nov. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Nov. 30, 2016	Mar. 31, 2016
Liquidity And Going Concern Considerations [Line Items]
Working Capital Deficit, Net				$ 26,000
Notes Payable, Related Parties, Current				$ 0			$ 600,000
Promissory Note [Member]
Liquidity And Going Concern Considerations [Line Items]
Notes Payable, Related Parties, Current					$ 50,000	$ 50,000		$ 50,000	$ 50,000
Delfin Midstream LLC [Member]
Liquidity And Going Concern Considerations [Line Items]
Purchase of shares of Common Stock	312,825,952
Percentage of Common Stock	70.90%
Earn Out Agreement [Member]
Liquidity And Going Concern Considerations [Line Items]
Cumulative Amount Received under Earn Out Agreement Since Inception			$ 2,437,000
Revolving Loan Agreement [Member]
Liquidity And Going Concern Considerations [Line Items]
Proceeds from Lines of Credit		$ 500,000
Notes Payable, Related Parties, Current					$ 10,000

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2007	Jun. 30, 2015	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disputed Liabilities Of Disposal Group Accounts Payable	$ 1,000,000
VoIP Telephony Service [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Accrued Liabilities			$ 1,354,000
Liabilities of Disposal Group, Disputed			$ 1,000,000
Debt Instrument, Decrease, Forgiveness		$ 41,000

ACCRUED EXPENSES AND OTHER CU26

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Accrued legal and audit expense	$ 26,000	$ 30,500

DEBT (Details)

DEBT (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Short-term Debt [Line Items]
Due to Related Party	$ 0	$ 600,000
2008 Revolving Loan Notes [Member]
Short-term Debt [Line Items]
Due to Related Party	0	500,000
March 2016 Promissory Note [Member]
Short-term Debt [Line Items]
Due to Related Party	0	50,000
November 2016 Promissory Note [Member]
Short-term Debt [Line Items]
Due to Related Party	0	50,000
March 2017 Promissory Note [Member]
Short-term Debt [Line Items]
Due to Related Party	0	0
November 2017 Promissory Note [Member]
Short-term Debt [Line Items]
Due to Related Party	$ 0	$ 0

DEBT (Details Textual)

DEBT (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 30, 2017	Mar. 31, 2017	Nov. 30, 2016	Mar. 31, 2016	Jun. 06, 2008
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								$ 500,000
Line of Credit Facility, Current Borrowing Capacity								400,000
Line of Credit Facility, Remaining Borrowing Capacity								$ 100,000
Accrued interest due to related party		$ 0	$ 427,878
Related party interest expense		63,974	54,644
Notes Payable, Related Parties, Current		0	600,000
Line of Credit [Member]
Short-term Debt [Line Items]
Debt Instrument, Periodic Payment		923,233
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Accrued interest due to related party		0	423,233
Related party interest expense		$ 50,000	$ 50,000
Notes Payable, Related Parties, Current				$ 10,000
Promissory Note [Member]
Short-term Debt [Line Items]
Notes Payable, Related Parties, Current				$ 50,000	$ 50,000	$ 50,000	$ 50,000
Subsequent Event [Member] | Promissory Note [Member] | Delfin Midstream LLC [Member]
Short-term Debt [Line Items]
Notes Payable, Related Parties, Current	$ 50,000
Accounts Payable, Interest-bearing, Interest Rate	8.00%
Debt Instrument, Maturity Date, Description	payable on the maturity date, calculated on a 365/66 day year, as applicable
Due from Related Parties	$ 15,000

STOCK OPTION PLANS (Details)

STOCK OPTION PLANS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Stock Options Activity [Line Items]
Outstanding - Number of Options	0	100,000
Granted - Number of Options	0	0
Exercised - Number of Options	0	0
Expired - Number of Options	0	(100,000)
Outstanding - Number of Options	0	0
Exercisable - Number of Options	0	0
Options available- Number of Options	0	0
Outstanding-Weighted Average Exercise Price (in dollars per share)		$ 0.14
Granted-Weighted Average Exercise Price (in dollars per share)	$ 0	0
Exercised-Weighted Average Exercise Price (in dollars per share)	$ 0	0
Expired-Weighted Average Exercise Price (in dollars per share)		$ 0.14
Outstanding-Weighted Average Remaining Contractual Term		7 months 6 days
Outstanding - Aggregate Intrinsic Value (in dollars)	$ 0	$ 0
Outstanding - Aggregate Intrinsic Value (in dollars)	0	0
Exercisable-Aggregate Intrinsic Value (in dollars)	$ 0	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Continuing operations	$ 0	$ 0
Discontinued operations	0	0
Income Tax Expense (Benefit)	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 0	$ 0
State	0	0
Current Income Tax Expense (Benefit)	0	0
Deferred:
Federal	0	0
State	0	0
Provision for income taxes	$ 0	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statutory federal income tax rate	35.00%	34.00%
Change in tax rate	(5292.36%)	0.00%
Nondeductible items	0.00%	0.00%
State income taxes, net of federal benefit	3.96%	3.96%
Change in valuation allowance	16233.74%	(37.96%)
Write-off of DTA under IRC 382 and 383	(10979.35%)	0.00%
Other	0.00%	0.00%
Effective tax rate	0.00%	0.00%

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets (liabilities):
Net operating loss carryforwards	$ 0	$ 62,959,000
Issuance of warrants	982,000	1,447,000
AMT and other tax credits	0	352,000
Accrued expenses	29,000	335,000
Depreciation and amortization	10,000	15,000
Total gross deferred tax assets	1,021,000	65,108,000
Less: valuation allowance	(1,021,000)	(65,108,000)
Total net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Valuation Allowance Offset Percentage	100.00%
Less: valuation allowance	$ 1,021,000	$ 65,108,000
Valuation Allowance, Deferred Tax Asset, Change in Amount	$ (64,087,000)	$ 147,000
Operating Loss Carry Forwards Expiration Period	These carryforwards expire through 2038.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	Mar. 09, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018	Nov. 30, 2017	Mar. 31, 2017	Nov. 30, 2016	Mar. 31, 2016	Dec. 31, 2008
Related Party Transaction [Line Items]
Interest Expense, Related Party		$ 63,974	$ 54,644
Related Party Costs		240,000	240,000
Management Service Fees Payable, Per Month		20,000
Due to Related Parties, Current		130,769
Management Service Fees Payable, Per Annum		240,000
Accounts Payable, Related Parties, Current		0	769,570
Notes Payable, Related Parties, Current		$ 0	600,000
2016 Promissory Note [Member]
Related Party Transaction [Line Items]
Interest Expense, Related Party			4,645
Proceeds from Related Party Debt			$ 100,000
Promissory Note [Member]
Related Party Transaction [Line Items]
Notes Payable, Related Parties, Current					$ 50,000	$ 50,000	$ 50,000	$ 50,000
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Accounts Payable, Related Parties, Current									$ 105,769
Vice President [Member]
Related Party Transaction [Line Items]
Accounts Payable, Related Parties, Current									$ 25,000
Delfin Midstream LLC [Member] | Subsequent Event [Member] | Promissory Note [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt	$ 50,000
Notes Payable, Related Parties, Current				$ 50,000
Due from Related Parties				$ 15,000

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - Delfin Midstream LLC [Member] - Subsequent Event [Member] - Promissory Note [Member]	Mar. 09, 2018USD ($)
Proceeds from Related Party Debt	$ 50,000
Related Party Transaction, Due from (to) Related Party	$ 15,000