Document and Entity Information
Document and Entity Information Document - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 10, 2015 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | ZPCM | |
Entity Registrant Name | ZAP COM CORP | |
Entity Central Index Key | 1,083,243 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 50,004,474 |
Statement of Financial Position
Statement of Financial Position - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Document Period End Date | Jun. 30, 2015 | |
Cash and cash equivalents | $ 644,500 | $ 748,913 |
Prepaid Expense, Current | 5,130 | |
Due from Affiliates | 0 | |
Total assets | 649,630 | 748,913 |
Accrued liabilities | 19,937 | 18,481 |
Due to Affiliate | 25,217 | |
Notes Payable, Current | 5,130 | |
Total liabilities | $ 25,067 | $ 43,698 |
Commitments and Contingencies | ||
Common stock | $ 50,004 | $ 50,004 |
Additional paid in capital | 11,104,356 | 11,085,248 |
Accumulated deficit | (10,529,797) | (10,430,037) |
Total stockholders’ equity | 624,563 | 705,215 |
Total liabilities and stockholders’ equity | $ 649,630 | $ 748,913 |
Statement of Income
Statement of Income - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of revenues | 0 | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 | 0 |
Operating expenses: | ||||
General and administrative | 31,079 | 29,364 | 99,760 | 84,132 |
Total operating expenses | 31,079 | 29,364 | 99,760 | 84,132 |
Operating loss | (31,079) | (29,364) | (99,760) | (84,132) |
Interest income | 0 | 0 | 0 | 0 |
Loss before income taxes | (31,079) | (29,364) | (99,760) | (84,132) |
Benefit from income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (31,079) | $ (29,364) | $ (99,760) | $ (84,132) |
Net loss per common share: | ||||
Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average common shares outstanding | 50,004,474 | 50,004,474 | 50,004,474 | 50,004,474 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Accrued liabilities | $ 1,456 | $ 0 |
Increase (Decrease) in Accrued Liabilities | 0 | 10,260 |
Increase (Decrease) in Accounts Payable, Related Parties | (20,087) | 0 |
Cash flows from operating activities: | ||
Net loss | (99,760) | (84,132) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Contributed capital from Harbinger Group Inc. for unreimbursed management services | 19,108 | 21,024 |
Changes in operating assets and liabilities: | ||
Increase (Decrease) in Prepaid Expense | (5,130) | 0 |
Net cash used in operating activities | (104,413) | (52,848) |
Cash flows from investing activities: | ||
Net decrease in cash and cash equivalents | (104,413) | (52,848) |
Cash and cash equivalents at beginning of period | $ 748,913 | $ 825,291 |
Note 1. Basis of Presentation
Note 1. Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Description and Basis of Presentation [Text Block] | Basis of Presentation The unaudited condensed financial statements included herein have been prepared by Zap.Com Corporation (“Zap.Com” or the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Although the Company believes that the disclosures are adequate to make the information presented not misleading, certain information and footnote disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), have been condensed or omitted pursuant to such rules and regulations. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by US GAAP. These interim financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC on March 20, 2015. The results of operations for the six months ended June 30, 2015 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2015. |
Note 2. Related Party Transacti
Note 2. Related Party Transactions | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Related Party Transactions Since its inception, the Company has utilized the services of the management and staff of HRG Group, Inc. (the Company’s “Principal Stockholder”), under a shared services agreement that allocated these costs on a percentage of time basis. The Company also shares office space with its Principal Stockholder under such agreement. Through June 30, 2015 , the Principal Stockholder has waived its rights under the shared services agreement to be reimbursed for these costs. The Company recorded approximately $8,315 and $10,519 as contributed capital for such services for the three months ended June 30, 2015 and 2014 , respectively and $19,108 and $21,024 for the six months ended June 30, 2015 and 2014 , respectively. The Company believes these allocations were made on a reasonable basis; however, they do not necessarily represent the costs that would have been incurred by the Company on a stand-alone basis. The Company’s Principal Stockholder pays certain filing related expenses on behalf of the Company and the corresponding payables are settled periodically. At June 30, 2015 and December 31, 2014 , the payable to affiliate related to such transactions was $5,130 and $25,217 , respectively. |
Note 2. Related Party Transact7
Note 2. Related Party Transactions (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Document Period End Date | Jun. 30, 2015 | ||||
Notes Payable, Current | $ 5,130 | $ 5,130 | |||
Due to Affiliate | $ 25,217 | ||||
Due from Affiliates | $ 0 | ||||
Contributed capital from Harbinger Group Inc. for unreimbursed management services | $ 8,315 | $ 10,519 | $ 19,108 | $ 21,024 |