Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Sep. 30, 2015 | Nov. 05, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | BEAR LAKE RECREATION INC | |
Entity Central Index Key | 1,074,871 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 1,249,816 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2015 | Jun. 30, 2015 |
Current Assets | ||
Prepaid Expenses | $ 625 | $ 2,500 |
Total Current Assets | 625 | 2,500 |
Total Assets | 625 | 2,500 |
Current Liabilities | ||
Accounts Payable | 4,201 | 0 |
Related Party Payable | 121,204 | 120,429 |
Accrued Interest - Related Parties | 48,931 | 44,750 |
Total Current Liabilities | 174,336 | 165,179 |
Total Liabilities | 174,336 | 165,179 |
Stockholders' Deficit | ||
Preferred Stock | 0 | 0 |
Common Stock | 1,250 | 1,250 |
Additional Paid-in Capital | 82,828 | 82,828 |
Accumulated Deficit | (257,789) | (246,757) |
Total Stockholders' Deficit | (173,711) | (162,679) |
Total Liabilities and Stockholders' Deficit | $ 625 | $ 2,500 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2015 | Jun. 30, 2015 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value per share in dollars | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value in dollars | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 1,249,816 | 1,249,816 |
Common stock, shares outstanding | 1,249,816 | 1,249,816 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Income Statement [Abstract] | ||
Revenues | $ 0 | $ 0 |
Cost of Goods Sold | 0 | 0 |
Gross Profit | 0 | 0 |
General and Administrative Expenses | 6,851 | 4,524 |
Net Loss from Operations | (6,851) | (4,524) |
Other Income (Expense) | ||
Related party interest expense | (4,181) | (3,334) |
Total Other Income (Expense) | (4,181) | (3,334) |
Net Loss Before Taxes | (11,032) | (7,858) |
Provision for Income Taxes | 0 | 0 |
Net Loss | $ (11,032) | $ (7,858) |
Loss Per Share - Basic and Diluted | $ (0.01) | $ (0.01) |
Weighted Average Shares Outstanding - Basic and Diluted | 1,249,816 | 1,249,816 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flows From Operating Activities | ||
Net Loss | $ (11,032) | $ (7,858) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
(Increase)/Decrease - Prepaid Expense | 1,875 | 0 |
Increase/(Decrease) - Accounts Payable | 4,201 | 2,550 |
Increase/(Decrease) - Related Party Payables | 775 | 1,974 |
Increase in related party accrued interest | 4,181 | 3,334 |
Net Cash From Operating Activities | 0 | 0 |
Cash Flows From Investing Activities | ||
Net Cash From Investing Activities | 0 | 0 |
Cash Flows from Financing Activities | ||
Net Cash From Financing Activities | 0 | 0 |
Net Change In Cash | 0 | 0 |
Beginning Cash Balance | 0 | 0 |
Ending Cash Balance | 0 | 0 |
Supplemental Disclosure of Cash Flow Information: | ||
Cash paid during the year for interest | 0 | 0 |
Cash paid during the year for income taxes | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | NOTE 1 BASIS OF PRESENTATION The accompanying condensed financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). The interim financial statements reflect all adjustments, consisting of normal recurring adjustments which, in the opinion of management, are necessary to present a fair statement of the results for the period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys Annual Report on Form 10-K for the year ended June 30, 2015. The results of operations for the period ended September 30, 2015, are not necessarily indicative of the operating results for the full year. |
Going Concern
Going Concern | 3 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2 GOING CONCERN The Company has minimal assets, has no established operations, and has accumulated losses since inception. These factors raise substantial doubt about the Companys ability to continue as a going concern. It is the intent of the Company to seek a merger with an existing, well-capitalized operating company. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Sep. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 3 RELATED PARTY TRANSACTIONS The Company had expenses and payables paid in its behalf by a shareholder in the amount of $775 during the quarter. The balance due the shareholder is $121,204 as of September 30, 2015. The aggregate amount of related party loans is non-interest bearing, unsecured and payable on demand. However, the Company imputes interest on the loan at 10% per annum. Imputed interest expense on related party loans for the three-month periods ended September 30, 2015 and 2014 totaled $4,181 and $3,334, respectively. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | NOTE 4 RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (ASU No. 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for annual reporting periods beginning after December 15, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In August 2014, the FASB issued ASU No. 2014-15 Disclosure of Uncertainties About an Entitys Ability to Continue as a Going Concern The Company has reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION The accompanying condensed financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). The interim financial statements reflect all adjustments, consisting of normal recurring adjustments which, in the opinion of management, are necessary to present a fair statement of the results for the period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys Annual Report on Form 10-K for the year ended June 30, 2015. The results of operations for the period ended September 30, 2015, are not necessarily indicative of the operating results for the full year. |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (ASU No. 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for annual reporting periods beginning after December 15, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In August 2014, the FASB issued ASU No. 2014-15 Disclosure of Uncertainties About an Entitys Ability to Continue as a Going Concern The Company has reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements. |
Related Party Transaction (Deta
Related Party Transaction (Details Narrative) - USD ($) | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |||
Related party payables | $ 775 | $ 1,974 | |
Balance due related party | 121,204 | $ 120,429 | |
Related party interest expense | $ 4,181 | $ 3,334 | |
Imputed interest on related party loan | 10.00% |