Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 12-May-14 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Entity Registrant Name | 'GOLDEN DRAGON HOLDING CO. | ' |
Entity Central Index Key | '0001081938 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 11,384,407 |
CONDENSED_BALANCE_SHEETS
CONDENSED BALANCE SHEETS (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
ASSETS | ' | ' |
TOTAL ASSETS | ' | ' |
CURRENT LIABILITIES | ' | ' |
Accounts payable | 52,718 | 52,206 |
Accrued Expenses | 29,973 | 25,894 |
Related Party Loan | 234,981 | 213,934 |
Total Current Liabilities | 317,672 | 292,034 |
TOTAL LIABILITIES | 317,672 | 292,034 |
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 as at March 31, 2014 and December 31, 2013, 2,384,407 shares issued and outstanding as at March 31, 2014 and December 31, 2013 | 239 | 239 |
Additional Paid In Capital | 16,874,642 | 16,874,642 |
Accumulated Deficit (including $(317,772) and $ (220,621) respectively during the development stage) | -17,192,553 | -17,166,915 |
Total Stockholders' Deficit | -317,672 | -292,034 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | ' |
CONDENSED_BALANCE_SHEETS_Paren
CONDENSED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
CONDENSED 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 during the development stage | ($317,772) | ($220,621) |
CONDENSED_STATEMENTS_OF_OPERAT
CONDENSED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 39 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
OPERATING EXPENSES | ' | ' | ' |
General & Administrative Expenses | $21,108 | $19,976 | $288,089 |
Total Operating Expenses | 21,108 | 19,976 | 288,089 |
OPERATING LOSS | -21,108 | -19,976 | -288,089 |
Interest and Other Income / (Expenses) Net | -4,530 | -2,917 | -29,683 |
Loss before Income Taxes | -25,638 | -22,893 | -317,772 |
Provision for Income Taxes | ' | ' | ' |
NET LOSS | -25,638 | -22,893 | -317,772 |
Other Comprehensive Income / (loss), net of tax | ' | ' | ' |
COMPREHENSIVE LOSS | ($25,638) | ($22,893) | ($317,772) |
NET LOSS PER COMMON SHARE | ' | ' | ' |
Basic & Diluted | ($0.01) | ($0.01) | ' |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ' | ' | ' |
Basic & Diluted | 2,384,407 | 2,384,407 | ' |
CONDENSED_STATEMENTS_OF_CASH_F
CONDENSED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | 39 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
CASH FLOW PROVIDED BY / (USED IN) OPERATING ACTIVITIES | ' | ' | ' |
NET INCOME/ (LOSS) | ($25,638) | ($22,893) | ($317,772) |
ADJUSTMENTS TO RECONCILE NET PROFIT / (LOSS) TO NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES | ' | ' | ' |
Compensatory loan increases | 15,000 | 15,000 | 195,000 |
CHANGES IN OPERATING ASSETS & LIABILITIES | ' | ' | ' |
Increase / (decrease) in Accounts Payable | 510 | -424 | 52,716 |
Increase / (decrease) in Accrued Expenses - Related Party | 4,081 | 2,917 | 29,975 |
Total Cash Flow provided by / (used in) Operating Activities | -6,047 | -5,400 | -40,081 |
CASH FLOW FROM INVESTING ACTIVITIES | ' | ' | ' |
Total Cash Flow provided by / (used in) Investing Activities | ' | ' | ' |
CASH FLOW FROM FINANCING ACTIVITIES | ' | ' | ' |
Increase in Related Party Loan | 6,047 | 5,400 | 39,981 |
Total Cash Flow provided by / (used in) Financing Activities | 6,047 | 5,400 | 39,981 |
NET INCREASE / (DECREASE) IN CASH & CASH EQUIVALENTS | ' | ' | -100 |
Cash and Cash Equivalents at the beginning of the period | ' | 25 | 100 |
Cash and Cash Equivalents at the end of the period | ' | 25 | ' |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ' | ' | ' |
Related party loans | 15,000 | 15,000 | 195,000 |
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION | ' | ' | ' |
Cash paid for interest | ' | ' | ' |
Cash paid for income tax | ' | ' | ' |
CONDENSED_STATEMENTS_OF_MOVEME
CONDENSED STATEMENTS OF MOVEMENT IN 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 | ' | ' |
Net loss | -25,638 | ' | ' | -25,638 |
Balance at Mar. 31, 2014 | ($317,672) | $239 | $16,874,642 | ($17,192,553) |
Balance, shares at Mar. 31, 2014 | ' | 2,384,407 | ' | ' |
NATURE_OF_OPERATIONS_AND_SIGNI
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2014 | |
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 | |
Business | |
Golden Dragon Holding Co. ("Golden Dragon," "We" or "Us") is a publicly quoted | |
shell company seeking to create value for our shareholders by merging with | |
another entity with experienced management and opportunities for growth in | |
return for shares of our common stock. No potential merger candidate has been | |
identified at this time. | |
We are a development stage enterprise in accordance with Accounting Codification | |
Standard ("ACS") 915 "Development Stage Entities". We have been in the | |
development stage since Inception (January 1, 2011). | |
History | |
Golden Dragon was incorporated in the State of Delaware in April 2010 as a | |
wholly owned subsidiary of Concord Ventures, Inc. ("Concord"). Concord was a | |
publicly quoted shell company with no assets, no operating business or other | |
source of income and liabilities in excess of $590,000. | |
Merger of Concord | |
In order for Concord to re-domicile in the State of Delaware from the State of | |
Colorado, on September 29, 2010, Concord entered into an Agreement and Plan of | |
Merger ("the Merger Agreement") with one of its wholly owned subsidiary | |
companies, CCVG, Inc. ("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, pursuant to the Delaware Holding Company formation | |
statute, under Delaware General Corporate Law (DGCL) Section 251(g), CCVG | |
completed an Agreement and Plan of Merger and Reorganization into a Holding | |
Company ("the Reorganization") with CCAPS, Inc. ("CCAPS") and Golden Dragon, | |
both wholly-owned subsidiaries of CCVG. The Reorganization provided for the | |
merger of CCVG with and into CCAPS, with CCAPS being the surviving corporation | |
in that merger. Contemporaneously with CCVG's merger with and into CCAPS, the | |
shareholders of CCVG were converted into shareholders of Golden Dragon on a one | |
share for one share basis. | |
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 | |
an unrelated third party. 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 for $100 cash consideration, subject to | |
its debts, and issued 25,000 restricted 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. | |
Basis of Presentation: | |
The accompanying unaudited financial statements of Golden Dragon have been | |
prepared in accordance with generally accepted accounting principles for interim | |
financial information and with the instructions to Form 10-Q and Article 10 of | |
Regulation S-X. Accordingly, they do not include all of the information and | |
footnotes required by generally accepted accounting principles for complete | |
financial statements. In our opinion the financial statements include all | |
adjustments (consisting of normal recurring accruals) necessary in order to make | |
the financial statements not misleading. Operating results for the three months | |
ended March 31, 2014 are not necessarily indicative of the results that may be | |
expected for the year ended December 31, 2014. For more complete financial | |
information, these unaudited financial statements should be read in conjunction | |
with the audited financial statements for the year ended December 31, 2013 | |
included in our Form 10-K filed with the SEC. | |
Significant Accounting Policies: | |
Development Stage Company - We are a development stage enterprise in accordance | |
with 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. | |
Use of Estimates -- The preparation of our 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. | |
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 owned no property and equipment during the three | |
months ended March 31, 2014 or 2013 and consequently we recorded no depreciation | |
expense during the three months ended March 31, 2014 or 2013. | |
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 March 31, 2014 or 2013. | |
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 fair value of accounts payable and related party loan approximate | |
to their carrying value due to the short maturities of these financial. | |
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 costs -- Advertising costs are expensed as incurred. No advertising | |
costs were incurred during the three months ended March 31, 2014 or 2013. | |
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 loss was identical to our net loss for the three months ended | |
March 31, 2014 and 2013. | |
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 three months ended March 31, 2014 | |
and 2013 as we had no stock options, warrants or convertible debt issued or | |
outstanding during those periods. | |
Stock-Based Compensation -- We have adopted ASC Topic 718, "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. | |
No stock based compensation was issued or outstanding during the three months | |
ending March 31, 2014 or 2013. | |
Business Segments -- We believe that our activities during the three months | |
ended March 31, 2014 and 2013 comprised 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 | 3 Months Ended |
Mar. 31, 2014 | |
GOING CONCERN AND LIQUIDITY [Abstract] | ' |
GOING CONCERN AND LIQUIDITY | ' |
2. GOING CONCERN AND LIQUIDITY | |
At March 31, 2014, we had no assets, no operating business or other source of | |
income, outstanding liabilities totaling $317,672 and a stockholders' deficit of | |
$317,672.00 | |
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 unaudited financial statements for the three months ended March 31, 2014 and | |
2013 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 $317,672 and reported an accumulated deficit | |
since Inception (January 1, 2011) of $317,772 as at March 31, 2014. | |
It is our current intention to seek to raise debt and, or, equity financing to | |
fund our ongoing operating expenses and attempt to create value for our | |
shareholders by merging with another entity with experienced management and | |
opportunities for growth in return for shares of our common stock. There is no | |
assurance that this series of events will be satisfactorily completed. |
ASSETS
ASSETS | 3 Months Ended |
Mar. 31, 2014 | |
ASSETS [Abstract] | ' |
ASSETS | ' |
3. ASSETS | |
As at March 31, 2014 and December 31, 2013, we had no assets |
ACCOUNTS_PAYABLE
ACCOUNTS PAYABLE | 3 Months Ended |
Mar. 31, 2014 | |
ACCOUNTS PAYABLE [Abstract] | ' |
ACCOUNTS PAYABLE | ' |
4. ACCOUNTS PAYABLE | |
As at March 31, 2014, the balance of accounts payable principally represents | |
legal fees payable. |
ACCRUED_EXPENSES
ACCRUED EXPENSES | 3 Months Ended |
Mar. 31, 2014 | |
ACCRUED EXPENSES [Abstract] | ' |
ACCRUED EXPENSES | ' |
5. ACCRUED EXPENSES | |
As at March 31, 2014, the balance of accrued expenses principally represents | |
interest payable on our related party loan (See Note 6.). |
RELATED_PARTY_LOAN
RELATED PARTY LOAN | 3 Months Ended |
Mar. 31, 2014 | |
RELATED PARTY LOAN [Abstract] | ' |
RELATED PARTY LOAN | ' |
6. RELATED PARTY LOAN | |
As at March 31, 2014, the related party loan represents a loan made to us by Mr. | |
David J. Cutler, our sole officer, a director and majority shareholder. The loan | |
is repayable on demand and Interest is accrued on the loan at 8%.At March 31, | |
2014 and December 31, 2013,, the principal balance owed was $234,981and $213,934 | |
with accrued interest of $$29,933 and 25,294repectively. |
COMMITMENTS
COMMITMENTS | 3 Months Ended |
Mar. 31, 2014 | |
COMMITMENTS [Abstract] | ' |
COMMITMENTS | ' |
7. COMMITMENTS: | |
Capital and Operating Leases | |
We had no capital or operating leases outstanding as at March 31, 2014. | |
Litigation | |
No legal proceedings are currently pending or threatened to the best of our | |
knowledge. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2014 | |
RELATED PARTY TRANSACTIONS [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
8. RELATED PARTY TRANSACTIONS | |
As at March 31, 2014, we owed Mr. Cutler, our sole officer, a director and | |
majority shareholder, $234,981 including accrued interest of $29,933. | |
During the three months ended March 31, 2014, we accrued $15,000 remuneration | |
payable to Mr. Cutler,one of our directors, our sole officer and controlling | |
shareholder. |
STOCKHOLDERS_DEFICIT
STOCKHOLDERS' DEFICIT | 3 Months Ended |
Mar. 31, 2014 | |
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 three month | |
periods ended March 31, 2014 and 2013. | |
Common Stock | |
We were authorized to issue 100,000,000 shares of common stock, par value | |
$0.0001 per share. | |
On April 29, 2008, we held our annual meeting of stockholders at which meeting | |
the majority of stockholders approved, an up to 3 for 1 reverse split of our | |
shares of common stock. No such reverse split has been effected as yet. | |
Recent Issuances | |
No shares of our common stock were issued in the three months ended March 31, | |
2014 or 2013. | |
Warrants | |
No warrants were issued or outstanding during the three months ended March 31, | |
2014 or 2013. | |
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 Class A 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 three months ended March | |
31, 2014 or 2013. |
INCOME_TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2014 | |
INCOME TAXES [Abstract] | ' |
INCOME TAXES | ' |
10. INCOME TAXES | |
We have had losses since our Inception (January 1, 2011), and therefore have not | |
been subject to federal or state income taxes since our Inception. | |
Following our reorganization into a holding company structure and the sales of | |
our subsidiary company, CCAPS, we disposed of the majority of our brought | |
forward net operating losses. | |
Consequently, effective March 31, 2014, we had NOLS of approximately $318,000, | |
which expire in 2031 and 2033. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2014 | |
SUBSEQUENT EVENTS [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
11. SUBSEQUENT EVENTS | |
We have evaluated subsequent events through the date of this filing and note | |
there has been a change of control as of May 9, 2014 as described in the 8-K | |
filed concurrently herewith for which disclosure is required. |
NATURE_OF_OPERATIONS_AND_SIGNI1
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Policy) | 3 Months Ended |
Mar. 31, 2014 | |
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
Development Stage Company | ' |
Development Stage Company - We are a development stage enterprise in accordance | |
with 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. | |
Use of Estimates | ' |
Use of Estimates -- The preparation of our 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. | |
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 owned no property and equipment during the three | |
months ended March 31, 2014 or 2013 and consequently we recorded no depreciation | |
expense during the three months ended March 31, 2014 or 2013. | |
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 March 31, 2014 or 2013. | |
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 fair value of accounts payable and related party loan approximate | |
to their carrying value due to the short maturities of these financial. | |
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 costs | ' |
Advertising costs -- Advertising costs are expensed as incurred. No advertising | |
costs were incurred during the three months ended March 31, 2014 or 2013. | |
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 loss was identical to our net loss for the three months ended | |
March 31, 2014 and 2013. | |
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 three months ended March 31, 2014 | |
and 2013 as we had no stock options, warrants or convertible debt issued or | |
outstanding during those periods. | |
Stock-Based Compensation | ' |
Stock-Based Compensation -- We have adopted ASC Topic 718, "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. | |
No stock based compensation was issued or outstanding during the three months | |
ending March 31, 2014 or 2013. | |
Business Segments | ' |
Business Segments -- We believe that our activities during the three months | |
ended March 31, 2014 and 2013 comprised 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. |
NATURE_OF_OPERATIONS_AND_SIGNI2
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Apr. 30, 2010 | Dec. 31, 2010 | |
Concord [Member] | 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 | 317,672 | ' | 292,034 | 590,000 | 678,000 |
Depreciation | ' | ' | ' | ' | ' |
Deferred costs and other | ' | ' | ' | ' | ' |
Advertising costs | ' | ' | ' | ' | ' |
Options, issued and outstanding | 0 | ' | 0 | ' | ' |
GOING_CONCERN_AND_LIQUIDITY_De
GOING CONCERN AND LIQUIDITY (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
GOING CONCERN AND LIQUIDITY [Abstract] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Liabilities | 317,672 | 292,034 | ' | ' | ' |
Stockholders' deficit | 317,672 | 292,034 | 197,628 | 99,561 | -100 |
Working capital deficit | 317,672 | ' | ' | ' | ' |
Accumulated deficit during the development stage | $317,772 | $220,621 | ' | ' | ' |
RELATED_PARTY_LOANS_Details
RELATED PARTY LOANS (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2013 | |
RELATED PARTY TRANSACTIONS [Abstract] | ' | ' |
Related Party Loan | $234,981 | $213,934 |
Interest | $29,933 | $25,294 |
Interest rate | 8.00% | ' |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
RELATED PARTY TRANSACTIONS [Abstract] | ' | ' |
Related Party Loan | $234,981 | $213,934 |
Interest | 29,933 | 25,294 |
Accrual for remuneration payable to related party | $15,000 | ' |
STOCKHOLDERS_DEFICIT_Details
STOCKHOLDERS' DEFICIT (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
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 |
Reverse stock split ratio | 3 | ' | ' |
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% | ' | ' |
Options, issued and outstanding | 0 | ' | 0 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carry forwards | 318,000 |
Minimum [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards, expiration date | 31-Dec-31 |
Maximum [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards, expiration date | 31-Dec-33 |