theglobe.com (TGLO) 10-K 29 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)		12 Months Ended
		Dec. 31, 2018	Mar. 01, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Document Type		10-K
Amendment Flag		false
Document Period End Date		Dec. 31, 2018
Document Fiscal Year Focus		2018
Document Fiscal Period Focus		FY
Entity Registrant Name		THEGLOBE COM INC
Entity Central Index Key		0001066684
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		Non-accelerated Filer
Entity Public Float	[1]			$ 10,292,362
Trading Symbol		TGLO
Entity Common Stock, Shares Outstanding			441,480,473
Entity Shell Company		true
Entity Emerging Growth Company		false
Entity Small Business		true
[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, 2018	Dec. 31, 2017
Current Assets:
Cash	$ 5,895	$ 440
Total current assets	5,895	440
Current Liabilities:
Accounts payable	7,482	0
Accrued expenses and other current liabilities	21,050	26,000
Accrued interest due to related party	9,068	0
Notes payable due to related party	300,362	0
Total current liabilities	337,962	26,000
Stockholders' Deficit:
Common stock, $0.001 par value; 500,000,000 shares authorized; 441,480,473 shares issued at December 31, 2018 and December 31, 2017	441,480	441,480
Additional paid in capital	296,594,042	296,594,042
Accumulated deficit	(297,367,589)	(297,061,082)
Total stockholders' deficit	(332,067)	(25,560)
Total liabilities and stockholders' deficit	$ 5,895	$ 440

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Dec. 31, 2018	Dec. 31, 2017
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	441,480,473	441,480,473
Common Stock, Shares, Outstanding	441,480,473	441,480,473

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net Revenue	$ 0	$ 0
Operating Expenses:
General and administrative	237,439	90,806
Related party transactions	60,000	240,000
Total Operating Expenses	297,439	330,806
Operating Loss from Continuing Operations	(297,439)	(330,806)
Other Income (Expense), net:
Related party interest expense	(9,068)	(63,974)
Loss from Continuing Operations Before Income Taxes	(306,507)	(394,780)
Income Taxes	0	0
Loss from Continuing Operations	(306,507)	(394,780)
Loss from Discontinued Operations, net of tax	0	(375)
Net Loss	$ (306,507)	$ (395,155)
Loss Per Share: Basic and Diluted:
Continuing Operations	$ 0	$ 0
Discontinued Operations	$ 0	$ 0
Weighted Average Common Shares Outstanding	441,480,473	441,480,473

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2016	$ (1,922,597)	$ 441,480	$ 294,301,850	$ (296,665,927)
Balance (in shares) at Dec. 31, 2016		441,480,473
Capital Contribution	2,292,192	$ 0	2,292,192	0
Net Loss	(395,155)	0		(395,155)
Balance at Dec. 31, 2017	(25,560)	$ 441,480	296,594,042	(297,061,082)
Balance (in shares) at Dec. 31, 2017		441,480,473
Net Loss	(306,507)	$ 0	0	(306,507)
Balance at Dec. 31, 2018	$ (332,067)	$ 441,480	$ 296,594,042	$ (297,367,589)
Balance (in shares) at Dec. 31, 2018		441,480,473

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net Loss	$ (306,507)	$ (395,155)
Loss from discontinued operations	0	375
Loss from continued operations	(306,507)	(394,780)
Changes in operating assets and liabilities:
Prepaid expenses	0	4,936
Accounts payable due to related party	0	240,000
Accounts payable	7,482	(100)
Accrued expenses and other current liabilities	(4,950)	(4,500)
Accrued interest due to related party	9,068	63,974
Net cash flows used in operating activities of continuing operations	(294,907)	(90,470)
Net cash flows used in operating activities of discontinued operations	0	(375)
Net cash flows used in operating activities	(294,907)	(90,845)
Cash Flows from Financing Activities:
Borrowings on Notes Payable	300,362	60,000
Net cash flows from financing activities	300,362	60,000
Net change in cash	5,455	(30,845)
Cash at beginning of period	440	31,285
Cash at end of period	$ 5,895	$ 440

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	(1) ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF THE COMPANY theglobe.com, inc. (the “Company,” “theglobe,” “we” or “us”) was incorporated on May 1, 1995 and commenced operations on that date. Originally, we were an online community with registered members and users in the United States and abroad. On September 29, 2008, we consummated the sale of the business and substantially all of the assets of our subsidiary, Tralliance Corporation (“Tralliance”), to Tralliance Registry Management Company, LLC (“Tralliance Registry Management”), an entity controlled by Michael S. Egan, our former Chairman and Chief Executive Officer. As a result of and on the effective date of the sale of our Tralliance business, which was our last remaining operating business, we became a “shell company,” as that term is defined in Rule 12b-2 of the Exchange Act, with no material operations or assets. 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 shares of our common stock, par value $0.001 per share (“Common Stock”), representing approximately 70.9% of our Common Stock. On December 31, 2017 (the “Closing Date”), Mr. Egan, Edward A. Cespedes and Robin S. Lebowitz resigned from their respective positions as officers and directors of the Company. William “Rusty” Nichols was appointed the sole member of our Board and our sole executive officer. Effective June 29, 2018, our Board appointed Mr. Frederick Jones as President, Chief Executive Officer, Chief Financial Officer, and Director of the Company, and Mr. Nichols resigned from his positions of President, Chief Executive Officer, Chief Financial Officer, Director, and any other directorships, offices or other positions with the Company. 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, 2018, 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, 2018 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. PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company . All significant intercompany balances and transactions have been eliminated in 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. 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, 2018 and 2017, respectively, due to their short maturities. 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 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% to 21%; requires companies to pay a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries; eliminates the corporate alternative minimum tax (AMT); creates a new limitation on deductible interest expense; and changes rules related to uses and limitations of net operating loss carry forwards created in tax years beginning after December 31, 2017. As a result of the Tax Act, the Company remeasured its deferred tax assets and liabilities to reflect the new statutory federal rate of 21% which resulted in a net adjustment of approximately $20,845,000 to deferred income tax expense for the year ended December 31, 2017. 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. 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. 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.

LIQUIDITY AND GOING CONCERN CON

LIQUIDITY AND GOING CONCERN CONSIDERATIONS	12 Months Ended
	Dec. 31, 2018
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 over the next twelve months. These reasons raise substantial doubt about the Company’s ability to continue as a going concern The Company received fundings of $50,000 each in March 2016, November 2016 and March 2017 as well as $10,000 of $50,000 in November 2017 under Promissory Notes entered into with the same entity that provided funding under the Revolving Loan Agreement (the “Promissory Notes”). In connection with the Closing with Delfin Midstream LLC the Promissory Notes have been fully satisfied. 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 shares of our Common Stock, representing approximately 70.9% of the issued and outstanding shares of our Common Stock. The closing of the purchase and sale transaction occurred on December 31, 2017 (the “Closing Date”). In connection with the transaction, we terminated the Master Services Agreement we had entered into with an entity controlled by Mr. Egan and satisfied all promissory notes and other borrowings under the credit line with respect to indebtedness owed to related parties. At December 31, 2018, the Company had a net working capital deficit of approximately $332,000. This deficit included accrued expenses of approximately $21,000, accounts payable of approximately $7,000 and approximately $309,000 in principal and accrued interest owed under the Promissory Note with Delfin, the Company’s majority stockholder. MANAGEMENT PLANS Management anticipates continued funding from Delfin over the next twelve months as it determines the direction of the Company.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	(3) DEBT In March 2018, the Company executed a Promissory Note with Delfin, which was amended and restated in May 2018 to $150,000 and then again on November 2, 2018 to increase the principal amount to up to $350,000 to pay certain accrued expenses, accounts payable, and to allow the Company to have some working capital. Interest accrues on the unpaid principal balance at a rate of 8% per annum, and is payable on the maturity date, calculated on a 365/366-day year, as applicable. The Promissory Note is due upon demand. It may be prepaid in whole or in part at any time prior to the maturity date. The Company continued funding from Delfin over the next twelve months.

STOCK OPTION PLANS

STOCK OPTION PLANS	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(4) STOCK OPTION PLANS As of December 31, 2018, all of the Company’s stock option plans have terminated and there are no shares for grant under these plans. The Company did not have any stock options outstanding and exercisable as of December 31, 2018 or 2017. No employee stock compensation expense was charged to operating expenses during the years ended December 31, 2018 or 2017. At December 31, 2018, there was no unrecognized compensation expense related to unvested stock options.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	(5) INCOME TAXES The provision (benefit) for income taxes is summarized as follows: Year Ended December 31, 2018 2017 Continuing operations $ — $ — Discontinued operations $ — $ — The provision (benefit) for income taxes attributable to continuing operations was as follows: Year Ended December 31, 2018 2017 Current: $ — $ — Federal — — State $ — $ — Deferred: $ — $ — Federal — — State $ — $ — Provision for income taxes $ — $ — 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, 2018 2017 Statutory federal income tax rate 21.00 % 34.00 % Change in tax rate — (5,292.36 ) Nondeductible items — — State income taxes, net of federal benefit 4.74 3.96 Change in valuation allowance 25.74 16,233.74 Write-off of DTA under IRC 382 and 383 — (10,979.35 ) Other — Effective tax rate 0.00 % 0.00 % The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2018 and 2017 are presented below. Year Ended December 31, 2018 2017 Deferred tax assets (liabilities): Net operating loss carryforwards $ 79,000 $ — Issuance of warrants 982,000 982,000 AMT and other tax credits — — Accrued expenses 29,000 29,000 Depreciation and amortization 10,000 10,000 Total gross deferred tax assets 1,100,000 1,021,000 Less: valuation allowance (1,100,000 ) (1,021,000 ) 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% valuation allowance. The valuation allowance for net deferred tax assets was $1,100,000 and $1,021,000 as of December 31, 2018 and 2017, respectively. The net change in the total valuation allowance was $(79,000) and $(64,087,000) for the years ended December 31, 2018 and 2017, respectively. 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. At December 31, 2018, the Company had net operating loss carryforwards available for U.S. tax purposes of approximately $307,000, which will carry forward indefinitely.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	(6) 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 per month ($240,000 per annum), Dancing Bear provides personnel and services to the Company so as to enable it to continue its existence as a public company without the necessity of any full-time employees of its own. The Services Agreement had an initial term of one year. In connection with the Delfin transaction, the Services Agreement has been terminated. Services under the Services Agreement include, without limitation, accounting, assistance with financial reporting, accounts payable, treasury/financial planning, record retention and secretarial and investor relations functions. Related party transactions expense related to the Services Agreement of $240,000 was recognized in our Consolidated Statement of Operations during the year ended December 31, 2017. In March 2018, the Company executed a Promissory Note with Delfin, which was amended and restated in May 2018 to $150,000 and then again on November 2, 2018 to increase the principal amount to up to $350,000 to pay certain accrued expenses, accounts payable, and to allow the Company to have some working capital. Interest accrues on the unpaid principal balance at a rate of 8% per annum, and is payable on the maturity date, calculated on a 365/366-day year, as applicable. The Promissory Note is due upon demand. It may be prepaid in whole or in part at any time prior to the maturity date. The Company expects continued funding from Delfin over the next twelve months. Effective June 29, 2018, the Company’s former Chairman and Chief Executive Officer, William R. Nichols, resigned from all positions and Frederick Jones was appointed to his positions. In connection with Mr. Nichols’ resignation, he was granted $60,000 cash as severance.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	(7) 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.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
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 and commenced operations on that date. Originally, we were an online community with registered members and users in the United States and abroad. On September 29, 2008, we consummated the sale of the business and substantially all of the assets of our subsidiary, Tralliance Corporation (“Tralliance”), to Tralliance Registry Management Company, LLC (“Tralliance Registry Management”), an entity controlled by Michael S. Egan, our former Chairman and Chief Executive Officer. As a result of and on the effective date of the sale of our Tralliance business, which was our last remaining operating business, we became a “shell company,” as that term is defined in Rule 12b-2 of the Exchange Act, with no material operations or assets. 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 shares of our common stock, par value $0.001 per share (“Common Stock”), representing approximately 70.9% of our Common Stock. On December 31, 2017 (the “Closing Date”), Mr. Egan, Edward A. Cespedes and Robin S. Lebowitz resigned from their respective positions as officers and directors of the Company. William “Rusty” Nichols was appointed the sole member of our Board and our sole executive officer. Effective June 29, 2018, our Board appointed Mr. Frederick Jones as President, Chief Executive Officer, Chief Financial Officer, and Director of the Company, and Mr. Nichols resigned from his positions of President, Chief Executive Officer, Chief Financial Officer, Director, and any other directorships, offices or other positions with the Company. 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, 2018, 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, 2018 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 . All significant intercompany balances and transactions have been eliminated in
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.
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, 2018 and 2017, 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% to 21%; requires companies to pay a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries; eliminates the corporate alternative minimum tax (AMT); creates a new limitation on deductible interest expense; and changes rules related to uses and limitations of net operating loss carry forwards created in tax years beginning after December 31, 2017. As a result of the Tax Act, the Company remeasured its deferred tax assets and liabilities to reflect the new statutory federal rate of 21% which resulted in a net adjustment of approximately $20,845,000 to deferred income tax expense for the year ended December 31, 2017. 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.
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.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 2017 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, 2018 2017 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, 2018 2017 Statutory federal income tax rate 21.00 % 34.00 % Change in tax rate — (5,292.36 ) Nondeductible items — — State income taxes, net of federal benefit 4.74 3.96 Change in valuation allowance 25.74 16,233.74 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, 2018 and 2017 are presented below. Year Ended December 31, 2018 2017 Deferred tax assets (liabilities): Net operating loss carryforwards $ 79,000 $ — Issuance of warrants 982,000 982,000 AMT and other tax credits — — Accrued expenses 29,000 29,000 Depreciation and amortization 10,000 10,000 Total gross deferred tax assets 1,100,000 1,021,000 Less: valuation allowance (1,100,000 ) (1,021,000 ) Total net deferred tax assets $ — $ —

ORGANIZATION AND SUMMARY OF S_3

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
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		21.00%	34.00%
Increase (Decrease) in Deferred Income Taxes			$ 20,845,000
Delfin Midstream LLC [Member]
Significant Accounting Policies [Line Items]
Purchase of Shares of Common Stock	312,825,952
Percentage of Common Stock	70.90%
Common Stock, Par or Stated Value Per Share	$ 0.001

LIQUIDITY AND GOING CONCERN C_2

LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Details Textual) - USD ($)	1 Months Ended
	Dec. 20, 2017	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Nov. 30, 2017	Mar. 31, 2017	Nov. 30, 2016	Mar. 31, 2016
Liquidity And Going Concern Considerations [Line Items]
Working Capital Deficit, Net		$ 332,000
Revolving Credit Facility, Principal and Accrued Interest		309,000
Notes Payable, Related Parties, Current		300,362	$ 150,000	$ 0
Accrued Expenses And Other Current Liability		21,050		26,000
Accounts Payable, Current		$ 7,482		$ 0
Promissory Note [Member]
Liquidity And Going Concern Considerations [Line Items]
Notes Payable, Related Parties, Current						$ 10,000	$ 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%
Revolving Loan Agreement [Member]
Liquidity And Going Concern Considerations [Line Items]
Notes Payable, Related Parties, Current					$ 50,000

DEBT (Details Textual)

DEBT (Details Textual) - USD ($)	1 Months Ended
	Mar. 31, 2018	Dec. 31, 2018	Nov. 02, 2018	May 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Notes Payable, Related Parties, Current	$ 150,000	$ 300,362			$ 0
Delfin Midstream LLC [Member]
Short-term Debt [Line Items]
Notes Payable, Related Parties, Current			$ 350,000	$ 150,000
Promissory Notes [Member] | Delfin Midstream LLC [Member]
Short-term Debt [Line Items]
Accounts Payable, Interest-bearing, Interest Rate	8.00%
Debt Instrument, Maturity Date, Description	payable on the maturity date, calculated on a 365/366-day year, as applicable.

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Continuing operations	$ 0	$ 0
Discontinued operations
Income Tax	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Statutory federal income tax rate	21.00%	34.00%
Change in tax rate	0.00%	(5292.36%)
Nondeductible items	0.00%	0.00%
State income taxes, net of federal benefit	4.74%	3.96%
Change in valuation allowance	25.74%	16233.74%
Write-off of DTA under IRC 382 and 383	0.00%	(10979.35%)
Other		0.00%
Effective tax rate	0.00%	0.00%

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets (liabilities):
Net operating loss carryforwards	$ 79,000	$ 0
Issuance of warrants	982,000	982,000
AMT and other tax credits	0	0
Accrued expenses	29,000	29,000
Depreciation and amortization	10,000	10,000
Total gross deferred tax assets	1,100,000	1,021,000
Less: valuation allowance	(1,100,000)	(1,021,000)
Total net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Valuation Allowance Off set Percentage	100.00%
Deferred Tax Assets, Valuation Allowance	$ 1,100,000	$ 1,021,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(79,000)	$ (64,087,000)
Operating Loss Carryforwards	$ 307,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 29, 2018	Dec. 31, 2018	Dec. 31, 2017	Nov. 02, 2018	Mar. 31, 2018
Related Party Transaction [Line Items]
Related Party Costs		$ 60,000	$ 240,000
Notes Payable, Related Parties, Current		$ 300,362	0		$ 150,000
Line of Credit Facility, Maximum Borrowing Capacity				$ 350,000
Management Service Fees Payable Per Month			20,000
Severance Costs	$ 60,000
Management Service Fees Payable Per Annum			$ 240,000