Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 29, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Entity Registrant Name | 'GOLDEN DRAGON HOLDING CO. | ' | ' |
Entity Central Index Key | '0001081938 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 2,384,407 | ' |
Entity Public Float | ' | ' | $89,859 |
BALANCE_SHEETS
BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
CURRENT ASSETS | ' | ' |
Cash and Cash Equivalents | ' | $25 |
Total Current Assets | ' | 25 |
TOTAL ASSETS | ' | 25 |
CURRENT LIABILITIES | ' | ' |
Accounts Payable | 52,206 | 43,511 |
Accrued Expenses - Related Party | 25,894 | 11,199 |
Related Party Loan | 213,934 | 142,943 |
Total Current Liabilities | 292,034 | 197,653 |
COMMITMENTS AND CONTINGENCIES (Note. 7) | ' | ' |
STOCKHOLDERS' DEFICIT | ' | ' |
Preferred Stock; $0.0001 par value, 10,000,000 shares authorized no shares issued and outstanding | ' | ' |
Class A Common Stock; $0.0001 par value, 100,000,000, shares authorized, 2,384,407 and 2,384,407 shares issued and outstanding respectively | 239 | 239 |
Additional Paid In Capital | 16,874,642 | 16,874,642 |
Accumulated Deficit (including $(292,134) during the development stage) | -17,166,915 | -17,072,509 |
Total Stockholders' Deficit | -292,034 | -197,628 |
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) | ' | $25 |
BALANCE_SHEETS_Parenthetical
BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
BALANCE SHEETS [Abstract] | ' | ' |
Preferred Stock, par value per share | $0.00 | $0.00 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Class A Common Stock, par value per share | $0.00 | $0.00 |
Class A Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Class A Common Stock, shares issued | 2,384,407 | 2,384,407 |
Class A Common Stock, shares outstanding | 2,384,407 | 2,384,407 |
Accumulated deficit | ($292,134) | ' |
STATEMENTS_OF_OPERATIONS
STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | 36 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
OPERATING (INCOME) / EXPENSES | ' | ' | ' |
General & Administrative Expenses | $80,311 | $89,568 | $266,981 |
Total Operating (Income) / Expenses | 80,311 | 89,568 | 266,981 |
OPERATING INCOME (LOSS) | -80,311 | -89,568 | -266,981 |
Interest and Other Income / (Expenses) Net | -14,095 | -8,499 | -25,153 |
Income / (Loss) before Income Taxes | -94,406 | -98,067 | -292,134 |
Provision for Income Taxes | ' | ' | ' |
NET INCOME (LOSS) | ($94,406) | ($98,067) | ($292,134) |
NET INCOME (LOSS) PER COMMON SHARE | ' | ' | ' |
Basic & Diluted | ($0.04) | ($0.04) | ' |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ' | ' | ' |
Basic & Diluted | 2,384,407 | 2,384,407 | ' |
STATEMENTS_OF_STOCKHOLDERS_DEF
STATEMENTS OF STOCKHOLDERS' DEFICIT (USD $) | Total | Class A Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] |
Balance at Dec. 31, 2010 | $100 | $239 | $16,874,642 | ($16,874,781) |
Balance, shares at Dec. 31, 2010 | ' | 2,384,407 | ' | ' |
Net loss | -99,661 | ' | ' | -99,661 |
Balance at Dec. 31, 2011 | -99,561 | 239 | 16,874,642 | -16,974,442 |
Balance, shares at Dec. 31, 2011 | ' | 2,384,407 | ' | ' |
Net loss | -98,067 | ' | ' | -98,067 |
Balance at Dec. 31, 2012 | -197,628 | 239 | 16,874,642 | -17,072,509 |
Balance, shares at Dec. 31, 2012 | ' | 2,384,407 | ' | ' |
Net loss | -94,406 | ' | ' | -94,406 |
Balance at Dec. 31, 2013 | ($292,034) | $239 | $16,874,642 | ($17,166,915) |
Balance, shares at Dec. 31, 2013 | ' | 2,384,407 | ' | ' |
STATEMENT_OF_CASH_FLOWS
STATEMENT OF CASH FLOWS (USD $) | 12 Months Ended | 36 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
CASH FLOW PROVIDED BY / (USED IN) OPERATING ACTIVITIES | ' | ' | ' |
NET INCOME (LOSS) | ($94,406) | ($98,067) | ($292,134) |
ADJUSTMENTS TO RECONCILE NET INCOME / (LOSS) TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | ' | ' | ' |
Compensatory loan increases | 60,000 | 60,000 | 180,000 |
CHANGES IN OPERATING ASSETS & LIABILITIES | ' | ' | ' |
Increase (Decrease) in Accounts Payable | 8,694 | 18,655 | 52,206 |
Increase (Decrease) in Accrued Expenses - Related Party | 14,695 | 8,499 | 25,894 |
Total Cash Flow used in Operating Activities | -11,017 | -10,913 | -34,034 |
CASH FLOW PROVIDED BY (USED IN) INVESTING ACTIVITIES | ' | ' | ' |
CASH FLOW PROVIDED BY (USED IN) INVESTING ACTIVITIES | ' | ' | ' |
CASH FLOW PROVIDED BY (USED IN) FINANCING ACTIVITIES | ' | ' | ' |
Funds from Related Pary Loans | 10,992 | 10,913 | 33,934 |
Total Cash Flow provided by / (used in) Financing Activities | 10,992 | 10,913 | 33,934 |
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS | -25 | ' | -100 |
Cash and Cash Equivalents at the beginning of the period | 25 | 25 | 100 |
Cash and Cash Equivalents at the end of the period | ' | 25 | ' |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ' | ' | ' |
Related party loans | 60,000 | 60,000 | 180,000 |
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION | ' | ' | ' |
Cash paid for interest | ' | ' | ' |
Cash paid for income tax | ' | ' | ' |
NATURE_OF_OPERATIONS_AND_SIGNI
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2013 | |
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES | ' |
1. NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Operations - Golden Dragon Holding Co. ("the Company," "we" or "us") | |
is a publicly quoted shell company seeking to obtain debt and, or, equity | |
finance to meet our ongoing operating expenses and attempt to merge with another | |
entity with experienced management and opportunities for growth in return for | |
shares of our common stock to create value for our shareholders. | |
In April 2010, Concord Ventures, Inc. ("Concord"), a Colorado corporation, | |
incorporated three new subsidiary companies, CCVG, Inc. ("CCVG"), CCAPS Co. | |
("CCAPS") and Golden Dragon Holding Co. ("Golden Dragon"). All three of the new | |
subsidiary companies were domiciled in Delaware. | |
Development Stage Company - We are a development stage enterprise in accordance | |
with Statement of Financial Accounting Standards ("SFAS") No. 7, "Accounting and | |
Reporting by Development Stage Enterprises" now referred to as ACS 915 | |
"Development Stage Entities." We have been in the development stage since | |
Inception (January 1, 2011). Among the disclosures required as a development | |
stage company are that our financial statements are identified as those of a | |
development stage company, and that the statements of operations, stockholders' | |
deficit and cash flows disclose activity since the date of our Inception | |
(January 1, 2011) as a development stage company. | |
Re-domicile in Delaware | |
In order for Concord to re-domicile in Delaware from Colorado, on September 29, | |
2010, Concord entered into an Agreement and Plan of Merger ("the Merger | |
Agreement") with its wholly owned subsidiary, CCVG. Under the terms of the | |
Merger Agreement, Concord shares of common stock converted automatically to CCVG | |
shares, without change or necessity to reissue. Also under the Merger Agreement, | |
CCVG became the surviving company domiciled in Delaware | |
Reorganization into a Holding Company Structure | |
Effective December 31, 2010, under an Agreement and Plan of Merger and | |
Reorganization into a Holding Company ("the Reorganization") filed with the | |
Secretary of State of Delaware: | |
- Golden Dragon acquired 100% of the issued share capital of CCVG in a | |
share for share exchange of Golden Dragon shares for CCVG shares with | |
CCVG's existing shareholders, and | |
- CCVG merged with CCAPS, one of CCVG's former subsidiary companies. | |
As a result of this reorganization into a Holding Company structure, Golden | |
Dragon became the surviving publicly quoted parent holding company with CCAPS, | |
the surviving corporation of the merger between CCVG and CCAPS, becoming the | |
sole remaining wholly-owned subsidiary of Golden Dragon. | |
The Reorganization has been accounted for so as to reflect the fact that both | |
CCVG and Golden Dragon were under common control at the date of the | |
Reorganization, similar to a reverse acquisition of CCVG and its subsidiary | |
company, CCAPS, by Golden Dragon. | |
Sale of CCAPS | |
On December 31, 2010, Golden Dragon entered into a Share Purchase Agreement with | |
James Clark. Under the terms of the Share Purchase Agreement, Golden Dragon sold | |
100% of the issued and outstanding shares of its sole remaining wholly owned | |
subsidiary, CCAPS, to James Clark for $100 cash consideration, subject to its | |
debts, and issued 25,000 shares of Golden Dragon Common Stock, valued at $1,000, | |
to CCAPS pursuant to the terms of the Share Purchase Agreement. At the time of | |
the sale, CCAPS had no ongoing operations or assets and outstanding liabilities | |
of approximately $678,000. | |
Following the merger of CCVG with and into CCAPS, CCAPS, as the surviving | |
corporation in that merger, retained all outstanding liabilities of CCVG in the | |
divestiture. | |
As a result of the sale of 100% of the issued and outstanding shares of CCAPS, | |
Golden Dragon, the surviving publicly quoted holding company will no longer | |
consolidate the liabilities of CCAPS or CCVG. | |
Cash and Cash Equivalents -- Cash and cash equivalents consist of cash and | |
highly liquid debt instruments with original maturities of less than three | |
months. | |
Property and Equipment- We sold all of our fixed assets effective February 16, | |
2001 for the benefit of our creditors as part of our Chapter 11 reorganization. | |
Accordingly, we had no property and equipment as of December 31, 2013 and 2012 | |
and we recorded no depreciation expense in the years ended December 31, 2013 and | |
2012 | |
Deferred Costs and Other -- Offering costs with respect to issue of common | |
stock, warrants or options by us were initially deferred and ultimately offset | |
against the proceeds from these equity transactions if successful or expensed if | |
the proposed equity transaction is unsuccessful. We had no deferred costs and | |
other as at December 31, 2013 and 2012. | |
Impairment of Long-Lived and Intangible Assets -- In the event that facts and | |
circumstances indicated that the cost of long-lived and intangible assets may be | |
impaired, an evaluation of recoverability was performed. If an evaluation was | |
required, the estimated future undiscounted cash flows associated with the asset | |
were compared to the asset's carrying amount to determine if a write-down to | |
market value or discounted cash flow value was required. | |
Financial Instruments -- The estimated fair values for financial instruments was | |
determined at discrete points in time based on relevant market information. | |
These estimates involved uncertainties and could not be determined with | |
precision. The carrying amounts of notes receivable, accounts receivable, | |
accounts payable and accrued liabilities approximated fair value because of the | |
short-term maturities of these instruments. The fair value of notes payable | |
approximated to their carrying value as generally their interest rates reflected | |
our effective annual borrowing rate. | |
Income Taxes -- We account for income taxes under the liability method, which | |
requires recognition of deferred tax assets and liabilities for the expected | |
future tax consequences of events that have been included in the financial | |
statements or tax returns. Under this method, deferred tax assets and | |
liabilities are determined based on the difference between the financial | |
statements and tax bases of assets and liabilities using enacted tax rates in | |
effect for the year in which the differences are expected to reverse. | |
Advertising cost -- Advertising costs were expensed as incurred. No advertising | |
costs were incurred in the years ended December 31, 2013 and 2012. | |
Comprehensive Income (Loss) -- Comprehensive income is defined as all changes in | |
stockholders' equity (deficit), exclusive of transactions with owners, such as | |
capital investments. Comprehensive income includes net income or loss, changes | |
in certain assets and liabilities that are reported directly in equity such as | |
translation adjustments on investments in foreign subsidiaries and unrealized | |
gains (losses) on available-for-sale securities. From our inception there were | |
no differences between our comprehensive loss and net loss. | |
Our comprehensive income / (loss) for the years ended December 31, 2013 and 2012 | |
was identical to our net income / (loss) for the years ended December 31, 2013 | |
and 2012. | |
Income (Loss) Per Share --. Income (loss) per share is presented in accordance | |
with Accounting Standards Update ("ASU"), Earning Per Share (Topic 260) which | |
requires the presentation of both basic and diluted earnings per share ("EPS") | |
on the consolidated income statements. Basic EPS would exclude any dilutive | |
effects of options, warrants and convertible securities but does include the | |
restricted shares of common stock issued. Diluted EPS would reflect the | |
potential dilution that would occur if securities of other contracts to issue | |
common stock were exercised or converted to common stock. Basic EPS calculations | |
are determined by dividing net income by the weighted average number of shares | |
of common stock outstanding during the year. Diluted EPS calculations are | |
determined by dividing net income by the weighted average number of common | |
shares and dilutive common share equivalents outstanding. Basic and diluted EPS | |
were identical for the years ended December 31, 2013 and 2012 as we had no | |
warrants or stock options outstanding during these years. | |
Stock-Based Compensation - We have adopted ASC Topic 718 (formerly SFAS 123R), | |
"Accounting for Stock-Based Compensation," which establishes a fair value method | |
of accounting for stock-based compensation plans. In accordance with guidance | |
now incorporated in ASC Topic 718, the cost of stock options and warrants issued | |
to employees and non-employees is measured on the grant date based on the fair | |
value. The fair value is determined using the Black-Scholes option pricing | |
model. The resulting amount is charged to expense on the straight-line basis | |
over the period in which we expect to receive the benefit, which is generally | |
the vesting period. The fair value of stock warrants was determined at the date | |
of grant using the Black-Scholes option pricing model. The Black-Scholes option | |
model requires management to make various estimates and assumptions, including | |
expected term, expected volatility, risk-free rate, and dividend yield. | |
Use of Estimates -- The preparation of our consolidated financial statements in | |
conformity with generally accepted accounting principles requires management to | |
make estimates and assumptions that affect the amounts reported in these | |
financial statements and accompanying notes. Actual results could differ from | |
those estimates. Due to uncertainties inherent in the estimation process, it is | |
possible that these estimates could be materially revised within the next year. | |
Business Segments -- We consider our ongoing activities to constitute a single | |
segment. | |
Recently Issued Accounting Pronouncements-- We have reviewed all recently | |
issued, but not yet effective, accounting pronouncements and do not believe the | |
future adoption of any such pronouncements may be expected to cause a material | |
impact on our financial condition or the results of our operations. |
GOING_CONCERN_AND_LIQUIDITY
GOING CONCERN AND LIQUIDITY | 12 Months Ended |
Dec. 31, 2013 | |
GOING CONCERN AND LIQUIDITY [Abstract] | ' |
GOING CONCERN AND LIQUIDITY | ' |
2. GOING CONCERN AND LIQUIDITY | |
As at December 31, 2013, we had no assets, no operating business or other source | |
of income, outstanding liabilities of $292,034 and a stockholders' deficit of | |
$292,034.00 | |
In our financial statements for the fiscal years ended December 31, 2013 and | |
2012, the Report of the Independent Registered Public Accounting Firm includes | |
an explanatory paragraph that describes substantial doubt about our ability to | |
continue as a going concern. Our financial statements for the fiscal years ended | |
December 31, 2013 and 2012 have been prepared on a going concern basis, which | |
contemplates the realization of assets and the settlement of liabilities and | |
commitments in the normal course of business. We had a working capital deficit | |
of $292,034 and reported an accumulated deficit of $17,166,915 as at December | |
31, 2013. | |
It is our current intention to seek raise debt and, or, equity financing to fund | |
ongoing operating expenses and attempt to merge with another entity with | |
experienced management and opportunities for growth in return for shares of our | |
common stock to create value for our shareholders. There is no assurance that | |
these events will be satisfactorily completed. |
ASSETS
ASSETS | 12 Months Ended |
Dec. 31, 2013 | |
ASSETS [Abstract] | ' |
ASSETS | ' |
3. ASSETS | |
As at December 31, 2013, we had no assets (2012- $25). |
ACCOUNTS_PAYABLE
ACCOUNTS PAYABLE | 12 Months Ended |
Dec. 31, 2013 | |
ACCOUNTS PAYABLE [Abstract] | ' |
ACCOUNTS PAYABLE | ' |
4. ACCOUNTS PAYABLE | |
Effective December 31, 2013, the outstanding balance of accounts payable | |
represents our balances due in respect of professional fees to our attorney and | |
auditors. |
ACCRUED_EXPENSES_RELATED_PARTY
ACCRUED EXPENSES - RELATED PARTY | 12 Months Ended |
Dec. 31, 2013 | |
ACCRUED EXPENSES - RELATED PARTY [Abstract] | ' |
ACCRUED EXPENSES - RELATED PARTY | ' |
5. ACCRUED EXPENSES - RELATED PARTY | |
As at December 31, 2013, we had accrued interest of $25,294 (2012 - $11,199) | |
payable to Mr. Cutler, an officer, director and shareholder of ours. |
RELATED_PARTY_LOANS
RELATED PARTY LOANS | 12 Months Ended |
Dec. 31, 2013 | |
RELATED PARTY LOANS [Abstract] | ' |
RELATED PARTY LOANS | ' |
6. RELATED PARTY LOANS | |
As at December 31, 2013, we had an outstanding loan with Mr. Cutler, an officer, | |
director and shareholder of ours, of $213,934 (2011- $142,943). | |
The loan is repayable on demand and carries interest at 8%. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2013 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
7. COMMITMENTS AND CONTINGENCIES | |
We were not subject to any contractual obligations and commercial commitments as | |
at December 31, 2013 (2012 - $0). | |
No legal proceedings are currently pending or threatened to the best of our | |
knowledge. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2013 | |
RELATED PARTY TRANSACTIONS [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
8. RELATED PARTY TRANSACTIONS | |
As at December 31, 2013, we had an outstanding loan with Mr. Cutler, our | |
principal shareholder, director and sole officer, of $213,934 (2012- $142,943) | |
and accrued interest outstanding of $25,294 (2012 - $11,199). |
STOCKHOLDERS_DEFICIT
STOCKHOLDERS' (DEFICIT) | 12 Months Ended |
Dec. 31, 2013 | |
STOCKHOLDERS' DEFICIT [Abstract] | ' |
STOCKHOLDERS' DEFICIT | ' |
9. STOCKHOLDERS' (DEFICIT) | |
Preferred Stock | |
We were authorized, without further action by the shareholders, to issue | |
10,000,000 shares of one or more series of preferred stock at a par value of | |
$0.0001, all of which is nonvoting. The Board of Directors may, without | |
shareholder approval, determine the dividend rates, redemption prices, | |
preferences on liquidation or dissolution, conversion rights, voting rights and | |
any other preferences. | |
No shares of preferred stock were issued or outstanding during the financial | |
years ended December 31, 2013 and 2012. | |
Common Stock | |
We were authorized to issue 100,000,000 shares of common stock, par value | |
$0.0001 per share. | |
No shares of common stock were issued during the twelve months ending December | |
31, 2013 or 2012. | |
Warrants | |
No warrants were issued or outstanding during the years ended December 31, 2013 | |
and 2012. | |
Stock Options | |
Effective March 19, 1999, we adopted a stock option plan (the "Plan"). The Plan | |
provides for grants of incentive stock options, nonqualified stock options and | |
restricted stock to designated employees, officers, directors, advisors and | |
independent contractors. The Plan authorized the issuance of up to 75,000 shares | |
of Common Stock. Under the Plan, the exercise price per share of a non-qualified | |
stock option must be equal to at least 50% of the fair market value of the | |
common stock at the grant date, and the exercise price per share of an incentive | |
stock option must equal the fair market value of the common stock at the grant | |
date. | |
No stock options were issued or outstanding during the years ended December 31, | |
2013 and 2012. |
INCOME_TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2013 | |
INCOME TAXES [Abstract] | ' |
INCOME TAXES | ' |
10. INCOME TAXES | |
We did not provide any current or deferred US federal income tax provision or | |
benefit for any of the periods presented in these financial statements because | |
we have experienced losses since Inception (January 1, 2011). When it is more | |
likely than not, that a tax asset cannot be realized through future income, the | |
Company must record an allowance against any future potential future tax | |
benefit. We provided a full valuation allowance against the net deferred tax | |
asset, consisting of net operating loss carry forwards, because management has | |
determined that it is more likely than not that we will not earn income | |
sufficient to realize the deferred tax assets during the carry forward periods. | |
The Company has not taken a tax position that, if challenged, would have a | |
material effect on the financial statements for the years ended December 31, | |
2013 and 2012 as defined under ASC 740, "Accounting for Income Taxes." We did | |
not recognize any adjustment to the liability for uncertain ta position and | |
therefore did not record any adjustment to the beginning balance of the | |
accumulated deficit on the balance sheet. | |
The provision for income taxes differs from the amount computed by applying the | |
statutory federal income tax rate to income before provision for income taxes. | |
The sources and tax effects of the differences for the periods presented are as | |
follows: | |
2013 2012 | |
Income tax provision at the federal statutory rate 39% 39% | |
Effect of operating losses (39%) (39%) | |
- % -% | |
===nbsp; === | |
Changes in the net deferred tax assets consist of the following: | |
2013 2012 | |
Net operating loss carry forward $ 94,406 $ 98,067 | |
Valuation allowance (94,406) (98,067) | |
Net deferred tax asset $ - $ - | |
==========br /> | |
A reconciliation of income taxes computed at the statutory rate is as follows: | |
2013 2012 | |
Tax at statutory rate (39%) $ 38,246 $ 36,818 | |
Increase in valuation allowance (38,246) (36,818) | |
Net deferred tax asset $ - $ - | |
===== =====r /> | |
The net federal operating loss carryforward will expire between 2031 and 2033. | |
This carry forward may be limited upon the consummation of a business | |
combination under IRC Section 381. |
SEGMENT_INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2013 | |
SEGMENT INFORMATION [Abstract] | ' |
SEGMENT INFORMATION | ' |
11. SEGMENT INFORMATION | |
We consider our ongoing business activities to constitute a single segment. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2013 | |
SUBSEQUENT EVENTS [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
12. SUBSEQUENT EVENTS | |
On January 20, 2014, we retained KLJ & Associates, LLP as our independent | |
registered public accounting firm. | |
We have evaluated subsequent events through January 29, 2014. There have been no | |
subsequent events after December 31, 2013, other than as disclosed above, for | |
which disclosure is required. |
NATURE_OF_OPERATIONS_AND_SIGNI1
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents -- Cash and cash equivalents consist of cash and | |
highly liquid debt instruments with original maturities of less than three | |
months. | |
Property and Equipment | ' |
Property and Equipment- We sold all of our fixed assets effective February 16, | |
2001 for the benefit of our creditors as part of our Chapter 11 reorganization. | |
Accordingly, we had no property and equipment as of December 31, 2013 and 2012 | |
and we recorded no depreciation expense in the years ended December 31, 2013 and | |
2012 | |
Deferred Cost and Other | ' |
Deferred Costs and Other -- Offering costs with respect to issue of common | |
stock, warrants or options by us were initially deferred and ultimately offset | |
against the proceeds from these equity transactions if successful or expensed if | |
the proposed equity transaction is unsuccessful. We had no deferred costs and | |
other as at December 31, 2013 and 2012. | |
Impairment of Long-Lived and Intangible Assets | ' |
Impairment of Long-Lived and Intangible Assets -- In the event that facts and | |
circumstances indicated that the cost of long-lived and intangible assets may be | |
impaired, an evaluation of recoverability was performed. If an evaluation was | |
required, the estimated future undiscounted cash flows associated with the asset | |
were compared to the asset's carrying amount to determine if a write-down to | |
market value or discounted cash flow value was required. | |
Financial Instruments | ' |
Financial Instruments -- The estimated fair values for financial instruments was | |
determined at discrete points in time based on relevant market information. | |
These estimates involved uncertainties and could not be determined with | |
precision. The carrying amounts of notes receivable, accounts receivable, | |
accounts payable and accrued liabilities approximated fair value because of the | |
short-term maturities of these instruments. The fair value of notes payable | |
approximated to their carrying value as generally their interest rates reflected | |
our effective annual borrowing rate. | |
Income Taxes | ' |
Income Taxes -- We account for income taxes under the liability method, which | |
requires recognition of deferred tax assets and liabilities for the expected | |
future tax consequences of events that have been included in the financial | |
statements or tax returns. Under this method, deferred tax assets and | |
liabilities are determined based on the difference between the financial | |
statements and tax bases of assets and liabilities using enacted tax rates in | |
effect for the year in which the differences are expected to reverse. | |
Advertising cost | ' |
Advertising cost -- Advertising costs were expensed as incurred. No advertising | |
costs were incurred in the years ended December 31, 2013 and 2012. | |
Comprehensive Income (Loss) | ' |
Comprehensive Income (Loss) -- Comprehensive income is defined as all changes in | |
stockholders' equity (deficit), exclusive of transactions with owners, such as | |
capital investments. Comprehensive income includes net income or loss, changes | |
in certain assets and liabilities that are reported directly in equity such as | |
translation adjustments on investments in foreign subsidiaries and unrealized | |
gains (losses) on available-for-sale securities. From our inception there were | |
no differences between our comprehensive loss and net loss. | |
Our comprehensive income / (loss) for the years ended December 31, 2013 and 2012 | |
was identical to our net income / (loss) for the years ended December 31, 2013 | |
and 2012. | |
Income (Loss) Per Share | ' |
Income (Loss) Per Share --. Income (loss) per share is presented in accordance | |
with Accounting Standards Update ("ASU"), Earning Per Share (Topic 260) which | |
requires the presentation of both basic and diluted earnings per share ("EPS") | |
on the consolidated income statements. Basic EPS would exclude any dilutive | |
effects of options, warrants and convertible securities but does include the | |
restricted shares of common stock issued. Diluted EPS would reflect the | |
potential dilution that would occur if securities of other contracts to issue | |
common stock were exercised or converted to common stock. Basic EPS calculations | |
are determined by dividing net income by the weighted average number of shares | |
of common stock outstanding during the year. Diluted EPS calculations are | |
determined by dividing net income by the weighted average number of common | |
shares and dilutive common share equivalents outstanding. Basic and diluted EPS | |
were identical for the years ended December 31, 2013 and 2012 as we had no | |
warrants or stock options outstanding during these years. | |
Stock-Based Compensation | ' |
Stock-Based Compensation - We have adopted ASC Topic 718 (formerly SFAS 123R), | |
"Accounting for Stock-Based Compensation," which establishes a fair value method | |
of accounting for stock-based compensation plans. In accordance with guidance | |
now incorporated in ASC Topic 718, the cost of stock options and warrants issued | |
to employees and non-employees is measured on the grant date based on the fair | |
value. The fair value is determined using the Black-Scholes option pricing | |
model. The resulting amount is charged to expense on the straight-line basis | |
over the period in which we expect to receive the benefit, which is generally | |
the vesting period. The fair value of stock warrants was determined at the date | |
of grant using the Black-Scholes option pricing model. The Black-Scholes option | |
model requires management to make various estimates and assumptions, including | |
expected term, expected volatility, risk-free rate, and dividend yield. | |
Use of Estimates | ' |
Use of Estimates -- The preparation of our consolidated financial statements in | |
conformity with generally accepted accounting principles requires management to | |
make estimates and assumptions that affect the amounts reported in these | |
financial statements and accompanying notes. Actual results could differ from | |
those estimates. Due to uncertainties inherent in the estimation process, it is | |
possible that these estimates could be materially revised within the next year. | |
Business Segments | ' |
Business Segments -- We consider our ongoing activities to constitute a single | |
segment. | |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements-- We have reviewed all recently | |
issued, but not yet effective, accounting pronouncements and do not believe the | |
future adoption of any such pronouncements may be expected to cause a material | |
impact on our financial condition or the results of our operations. |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2013 | |
INCOME TAXES [Abstract] | ' |
Schedule of Income Tax Rate Reconciliation | ' |
The sources and tax effects of the differences for the periods presented are as | |
follows: | |
2013 2012 | |
Income tax provision at the federal statutory rate 39% 39% | |
Effect of operating losses (39%) (39%) | |
- % -% | |
===nbsp; === | |
A reconciliation of income taxes computed at the statutory rate is as follows: | |
2013 2012 | |
Tax at statutory rate (39%) $ 38,246 $ 36,818 | |
Increase in valuation allowance (38,246) (36,818) | |
Net deferred tax asset $ - $ - | |
===== =====r /> | |
Schedule of Changes in Net Deferred Tax Assets | ' |
Changes in the net deferred tax assets consist of the following: | |
2013 2012 | |
Net operating loss carry forward $ 94,406 $ 98,067 | |
Valuation allowance (94,406) (98,067) | |
Net deferred tax asset $ - $ - | |
==========br /> |
NATURE_OF_OPERATIONS_AND_SIGNI2
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2010 | Dec. 31, 2013 | |
Nature of Operations [Line Items] | ' | ' |
Ownership percentage acquired | ' | 100.00% |
CCAPS [Member] | ' | ' |
Nature of Operations [Line Items] | ' | ' |
Ownership percentage sold | 100.00% | ' |
Consideration received from sale of stock | $100 | ' |
Stock issued | ' | 25,000 |
Stock issued, value | ' | 1,000 |
Liabilities | ' | $678,000 |
GOING_CONCERN_AND_LIQUIDITY_De
GOING CONCERN AND LIQUIDITY (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
GOING CONCERN AND LIQUIDITY [Abstract] | ' | ' | ' | ' |
Assets | ' | $25 | ' | ' |
Liabilities | 292,034 | 197,653 | ' | ' |
Stockholders' deficit | -292,034 | -197,628 | -99,561 | 100 |
Accumulated deficit | ($17,166,915) | ($17,072,509) | ' | ' |
ASSETS_Details
ASSETS (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
ASSETS [Abstract] | ' | ' | ' | ' |
Cash and Cash Equivalents | ' | $25 | $25 | $100 |
ACCRUED_EXPENSES_RELATED_PARTY1
ACCRUED EXPENSES - RELATED PARTY (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
ACCRUED EXPENSES - RELATED PARTY [Abstract] | ' | ' |
Accrued Expenses - Related Party | $25,894 | $11,199 |
RELATED_PARTY_LOANS_Details
RELATED PARTY LOANS (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
RELATED PARTY TRANSACTIONS [Abstract] | ' | ' |
Related Party Loan | $213,934 | $142,943 |
Related Party Loan, interest rate | 8.00% | ' |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' | ' |
Commitments and Contingencies | ' | ' |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
RELATED PARTY TRANSACTIONS [Abstract] | ' | ' |
Related Party Loan | $213,934 | $142,943 |
Accrued Expenses - Related Party | $25,894 | $11,199 |
STOCKHOLDERS_DEFICIT_Details
STOCKHOLDERS' (DEFICIT) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
STOCKHOLDERS' DEFICIT [Abstract] | ' | ' |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, par value per share | $0.00 | $0.00 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Class A Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Class A Common Stock, par value per share | $0.00 | $0.00 |
Common stock issued during the period | 0 | 0 |
Warrants, issued and outstanding | 0 | 0 |
Stock option plan, shares authorized | 75,000 | ' |
Stock option plan, minimum exercise price as a percentage of fair market value | 50.00% | ' |
INCOME_TAXES_Schedule_of_Incom
INCOME TAXES (Schedule of Income Tax Rate Reconciliation) (Details) (USD $) | 12 Months Ended | 36 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
INCOME TAXES [Abstract] | ' | ' | ' |
Income tax provision at the federal statutory rate | 39.00% | 39.00% | ' |
Effect of operating losses | -39.00% | -39.00% | ' |
Income Tax Rate Reconciliation | ' | ' | ' |
Tax at statutory rate (39%) | $38,246 | $36,818 | ' |
Change in valuation allowance | -38,246 | -36,818 | ' |
Net deferred tax asset | ' | ' | ' |
INCOME_TAXES_Schedule_of_Chang
INCOME TAXES (Schedule of Changes in Net Deferred Tax Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
INCOME TAXES [Abstract] | ' | ' |
Net operating loss carry forward | $94,406 | $98,067 |
Valuation allowance | -94,406 | -98,067 |
Net deferred tax asset | ' | ' |
INCOME_TAXES_Narrative_Details
INCOME TAXES (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Operating Loss Carryforwards [Line Items] | ' |
Expiration | 1-Jan-32 |
Minimum [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Expiration | 1-Jan-31 |
Maximum [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Expiration | 31-Dec-33 |