Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Nov. 14, 2014 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'Baynon International Corporation | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001089598 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 38,772,192 |
Entity Public Float | $0 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Current Reporting Status | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Baynon_International_Corporati
Baynon International Corporation - Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
CURRENT ASSETS: | ' | ' |
Cash and cash equivalents | $15,564 | $19,982 |
TOTAL CURRENT ASSETS | 15,564 | 19,982 |
TOTAL ASSETS | 15,564 | 19,982 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable and accrued expenses | 22,072 | 12,788 |
Convertible note payable - stockholder | 50,000 | 50,000 |
Accrued interest - stockholder | 7,430 | 5,186 |
TOTAL CURRENT LIABILITIES | 79,502 | 67,974 |
TOTAL LIABILITIES | 79,502 | 67,974 |
STOCKHOLDERS' DEFICIENCY: | ' | ' |
Common stock, par value $.001, Authorized 50,000,000 shares, issued and outstanding, 38,772,192 shares | 38,772 | 38,772 |
Additional paid-in capital | 255,936 | 255,936 |
Accumulated deficit | -358,646 | -342,700 |
TOTAL STOCKHOLDERS' DEFICIENCY | -63,938 | -47,992 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | $15,564 | $19,982 |
Baynon_International_Corporati1
Baynon International Corporation - Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Statements | ' | ' | ' | ' |
Revenues | $0 | $0 | $0 | $0 |
Cost of revenue | 0 | 0 | 0 | 0 |
Gross Profit | 0 | 0 | 0 | 0 |
Other Costs: | ' | ' | ' | ' |
General and administrative expenses | 4,121 | 3,836 | 13,715 | 14,624 |
Total Other Costs | 4,121 | 3,836 | 13,715 | 14,624 |
Operating loss | -4,121 | -3,836 | -13,715 | -14,624 |
Other Income (Expense): | ' | ' | ' | ' |
Interest income | 4 | 7 | 13 | 12 |
Interest expense - stockholders | -757 | -756 | -2,244 | -2,243 |
Total Other Income (Expense) | -753 | -749 | -2,231 | -2,231 |
Net Loss | ($4,874) | ($4,585) | ($15,946) | ($16,855) |
Loss per share: | ' | ' | ' | ' |
Basic and diluted loss per common share | $0 | $0 | $0 | $0 |
Basic and diluted common shares outstanding | 38,772,192 | 31,728,714 | 38,772,192 | 31,094,536 |
Baynon_International_Corporati2
Baynon International Corporation - Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Cash flows from Operating Activities: | ' | ' |
Net Loss | ($15,946) | ($16,855) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Increase (Decrease) in accounts payable and accrued expenses | 9,284 | -8,270 |
Increase in accrued interest - stockholder | 2,244 | 2,244 |
Net cash used in operating activities | -4,418 | -22,881 |
Cash flows from Financing Activities: | ' | ' |
Proceeds from issuance of common stock | 0 | 40,000 |
Net cash provided by financing activities | 0 | 40,000 |
Decrease in Cash and Cash Equivalents | -4,418 | 17,119 |
Cash and Cash Equivalents, beginning of period | 19,982 | 22,219 |
Cash and Cash Equivalents, end of period | 15,564 | 39,338 |
Cash paid during period for: | ' | ' |
Income taxes | 500 | 500 |
Interest | $0 | $0 |
1_The_Company
1. The Company | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
1. The Company | ' |
1. THE COMPANY | |
Baynon International Corp. formerly known as Technology Associates Corporation (the “Company”), was originally incorporated on February 29, 1968 under the laws of the Commonwealth of Massachusetts to engage in any lawful corporate undertaking. On December 28, 1989, the Company reincorporated under the laws of the State of Nevada. The Company was formerly engaged in the technology marketing business and its securities traded on the National Association of Securities Dealers OTC Bulletin Board. The Company has not engaged in any business operations for at least the last ten fiscal years and has no operations to date. | |
The Company will attempt to identify and negotiate with a business target for the merger of that entity with and into the Company. In certain instances, a target company may wish to become a subsidiary of the company or wish to contribute assets to the Company rather than merge. | |
No assurance can be given that the Company will be successful in identifying or negotiating with any target company. The Company provides a means for a foreign or domestic private company to become a reporting (public) company whose securities would be qualified for trading in the United States secondary market. |
2_Summary_of_Significant_Accou
2. Summary of Significant Accounting Policies | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
2. Summary of Significant Accounting Policies | ' | ||
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||
Interim Presentation | |||
The December 31, 2013 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of September 30, 2014, its results of operations for the three and nine months ended September 30, 2014 and 2013 and its cash flows for the nine months ended September 30, 2014 and 2013. | |||
The statements of operations for the three and nine months ended September 30, 2014 and 2013 are not necessarily indicative of the results for the full year. | |||
While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company’s annual Report on Form 10-K for the year ended December 31, 2013. | |||
Loss Per Share | |||
The Company computes loss per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 260, “Earnings Per Share”. Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock. Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the nine months ended September 30, 2014 and 2013 as their effect would be anti-dilutive: | |||
Nine Months ended September 30, 2014 | Nine Months ended September 30, 2013 | ||
Convertible note payable and accrued interest - stockholder (weighted average) | 4,594,411 | 4,354,411 | |
Going Concern | |||
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $(358,646) at September 30, 2014. The Company has no revenue generating operations and has limited cash resources. These factors raise substantial doubt about the ability of the Company to continue as a going concern. | |||
Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company’s obligations through September 30, 2015 by obtaining additional financing from key officers, directors and certain investors. However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. | |||
Fair Value of Financial Instruments | |||
The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments. | |||
Recently Issued Accounting Standards | |||
Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. |
3_Convertible_Notes_Payable_St
3. Convertible Notes Payable - Stockholder | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
3. Convertible Notes Payable - Stockholder | ' |
3. CONVERTIBLE NOTES PAYABLE - STOCKHOLDER | |
On April 10, 2012, the Company issued an unsecured convertible note payable to a stockholder in exchange for $50,000 in cash for the Company’s working capital needs. The note bore interest at 6% per annum and matured on April 10, 2013. The stockholder had the option to convert the note and accrued interest into the Company’s common stock at $.0125 per share. | |
On April 10, 2013 and April 10, 2014 the note was extended for an additional twelve months. The note bears interest at 6% per annum and matures on April 10, 2015. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $.0125 per share. | |
At September 30, 2014 and December 31, 2013, accrued interest on the notes was $7,430 and $5,186, respectively. Interest expense amounted to $(2,244) and $(2,243) for the nine months ended September 30, 2014 and 2013, respectively. |
4_Subsequent_Events
4. Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
4. Subsequent Events | ' |
4. SUBSEQUENT EVENTS | |
The Company has evaluated subsequent events through the date this filing. |
2_Summary_of_Significant_Accou1
2. Summary of Significant Accounting Policies: Interim Presentation (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Interim Presentation | ' |
Interim Presentation | |
The December 31, 2013 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of September 30, 2014, its results of operations for the three and nine months ended September 30, 2014 and 2013 and its cash flows for the nine months ended September 30, 2014 and 2013. | |
The statements of operations for the three and nine months ended September 30, 2014 and 2013 are not necessarily indicative of the results for the full year. | |
While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company’s annual Report on Form 10-K for the year ended December 31, 2013. |
2_Summary_of_Significant_Accou2
2. Summary of Significant Accounting Policies: Loss Per Share (Policies) | 9 Months Ended | ||
Sep. 30, 2014 | |||
Policies | ' | ||
Loss Per Share | ' | ||
Loss Per Share | |||
The Company computes loss per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 260, “Earnings Per Share”. Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock. Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the nine months ended September 30, 2014 and 2013 as their effect would be anti-dilutive: | |||
Nine Months ended September 30, 2014 | Nine Months ended September 30, 2013 | ||
Convertible note payable and accrued interest - stockholder (weighted average) | 4,594,411 | 4,354,411 | |
2_Summary_of_Significant_Accou3
2. Summary of Significant Accounting Policies: Going Concern (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Going Concern | ' |
Going Concern | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $(358,646) at September 30, 2014. The Company has no revenue generating operations and has limited cash resources. These factors raise substantial doubt about the ability of the Company to continue as a going concern. | |
Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company’s obligations through September 30, 2015 by obtaining additional financing from key officers, directors and certain investors. However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
2_Summary_of_Significant_Accou4
2. Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments. |
2_Summary_of_Significant_Accou5
2. Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Recently Issued Accounting Standards | ' |
Recently Issued Accounting Standards | |
Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. |
2_Summary_of_Significant_Accou6
2. Summary of Significant Accounting Policies: Loss Per Share: Securities excluded from calculation of loss per share (Tables) | 9 Months Ended | ||
Sep. 30, 2014 | |||
Tables/Schedules | ' | ||
Securities excluded from calculation of loss per share | ' | ||
Nine Months ended September 30, 2014 | Nine Months ended September 30, 2013 | ||
Convertible note payable and accrued interest - stockholder (weighted average) | 4,594,411 | 4,354,411 |
2_Summary_of_Significant_Accou7
2. Summary of Significant Accounting Policies: Loss Per Share: Securities excluded from calculation of loss per share (Details) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Details | ' | ' |
Convertible note payable and accrued interest - stockholder (weighted average) | 4,594,411 | 4,354,411 |
2_Summary_of_Significant_Accou8
2. Summary of Significant Accounting Policies: Going Concern (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Details | ' | ' |
Accumulated deficit | ($358,646) | ($342,700) |
3_Convertible_Notes_Payable_St1
3. Convertible Notes Payable - Stockholder (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Apr. 10, 2013 | Apr. 10, 2012 | |
Details | ' | ' | ' | ' | ' | ' | ' |
Unsecured convertible note payable | ' | ' | ' | ' | ' | ' | $50,000 |
Accrued interest | ' | ' | ' | ' | ' | 0.0125 | 0.0125 |
Accrued interest - stockholder | 7,430 | ' | 7,430 | ' | 5,186 | ' | ' |
Interest expense - stockholders | ($757) | ($756) | ($2,244) | ($2,243) | ' | ' | ' |