Document and Entity Information
Document and Entity Information - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Aug. 14, 2017 | Jun. 30, 2016 | |
Document and Entity Information: | |||
Entity Registrant Name | Baynon International Corp. | ||
Document Type | 10-Q | ||
Document Period End Date | Jun. 30, 2017 | ||
Trading Symbol | bann | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,089,598 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 43,465,233 | ||
Entity Public Float | $ 85,024 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | Yes | ||
Entity Well-known Seasoned Issuer | No | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | Q2 |
Baynon International Corp. - Ba
Baynon International Corp. - Balance Sheets - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 15,860 | $ 18,712 |
Total current assets | 15,860 | 18,712 |
Total assets | 15,860 | 18,712 |
Current liabilities | ||
Accounts payable and accrued expenses | 30,667 | 49,151 |
Convertible notes payable - stockholder | 70,000 | 45,000 |
Accrued interest - stockholder | 4,434 | 2,816 |
Total current liabilities | 105,101 | 96,967 |
Total Liabilities | 105,101 | 96,967 |
Stockholders' Deficiency | ||
Common stock, par value $0.001, authorized 50,000,000 shares, issued and outstanding 43,465,233 shares at June 30, 2017 and December 31, 2016 | 43,465 | 43,465 |
Additional paid-in capital | 309,905 | 309,905 |
Accumulated deficit | (442,611) | (431,625) |
Total Stockholders' Deficiency | (89,241) | (78,255) |
Total Liabilities and Stockholders' Deficiency | $ 15,860 | $ 18,712 |
Baynon International Corp. - B3
Baynon International Corp. - Balance Sheets (Parentheticals)(USD $) - $/shares - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 43,465,233 | 43,465,233 |
Common stock, shares outstanding | 43,465,233 | 43,465,233 |
Baynon International Corp. - St
Baynon International Corp. - Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement | ||||
Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of revenue | 0 | 0 | 0 | 0 |
Gross Profit | 0 | 0 | 0 | 0 |
Other Costs: | ||||
General and administrative expenses | 4,401 | 5,157 | 9,376 | 10,714 |
Total other costs | 4,401 | 5,157 | 9,376 | 10,714 |
Operating loss | (4,401) | (5,157) | (9,376) | (10,714) |
Other Income (Expense) | ||||
Interest income | 4 | 0 | 8 | 1 |
Interest expense - stockholder | (952) | (374) | (1,618) | (748) |
Total Other Income (Expense) | (948) | (374) | (1,610) | (747) |
Net Loss | $ (5,349) | $ (5,531) | $ (10,986) | $ (11,461) |
Basic and diluted earnings (loss) per common share | $ 0 | $ 0 | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding | 43,465,233 | 43,465,233 | 43,465,233 | 43,465,233 |
Baynon International Corp. - S5
Baynon International Corp. - Statements of Cash Flows - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities | ||||
Net Loss | $ (5,349) | $ (5,531) | $ (10,986) | $ (11,461) |
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: | ||||
Increase (decrease) in accounts payable and accrued expenses | (18,484) | 7,639 | ||
Increase in accrued interest - stockholders | 1,618 | 748 | ||
Net Cash Used In Operating Activities | (27,852) | (3,074) | ||
Cash flows from financing activities | ||||
Proceeds from related party loan | 25,000 | 0 | ||
Net Cash Used In Financing Activities | 25,000 | 0 | ||
Decrease in cash and cash eqivalents | (2,852) | (3,074) | ||
Cash and cash equivalents, beginning of the year | 18,712 | 3,792 | ||
Cash and cash equivalents, end of the year | $ 15,860 | $ 718 | 15,860 | 718 |
Cash Paid During the Year for: | ||||
Income taxes | 500 | 500 | ||
Interest | $ 0 | $ 0 |
1. The Company
1. The Company | 6 Months Ended |
Jun. 30, 2017 | |
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 thirteen 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 | 6 Months Ended |
Jun. 30, 2017 | |
Notes | |
2. Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Interim Presentation The December 31, 2016 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 June 30, 2017, its results of operations for the three and six months ended June 30, 2017 and 2016 and its cash flows for the six months ended June 30, 2017 and 2016. The statements of operations for the three and six months ended June 30, 2017 and 2016 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 Companys annual Report on Form 10-K for the year ended December 31, 2016. Loss Per Share The Company computes loss per share in accordance with FASB 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 six months ended June 30, 2017 and 2016 as their effect would be anti-dilutive: Six months ended June 30, 2017 Six months ended June 30, 2016 Convertible notes payable and accrued interest - stockholder (Weighted average) 5,954,740 2,134,795 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 $(442,611) at June 30, 2017. 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 Companys obligations through June 30, 2018 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 -
3. Convertible Notes Payable - Stockholder | 6 Months Ended |
Jun. 30, 2017 | |
Notes | |
3. Convertible Notes Payable - Stockholder | 3. CONVERTIBLE NOTES PAYABLE - STOCKHOLDER On May 18, 2015, the Company issued an unsecured convertible note payable to a stockholder in exchange for $25,000 in cash for the Companys working capital needs. The note bears interest at 6% per annum and had a term of one year. On May 18, 2016 the note was extended for an additional twelve months and on May 18, 2017 the note was extended for another twelve months. The stockholder has the option to convert the note and accrued interest into the Companys common stock at $.0125 per share. On September 9, 2016, the Company issued an unsecured convertible note payable to a stockholder in exchange for $20,000 in cash for the Companys working capital needs. The note bears interest at 6% per annum and matures on September 9, 2017. The stockholder has the option to convert the note and accrued interest into the Companys common stock at $.0125 per share. On April 24, 2017, the Company issued an unsecured convertible note payable to a stockholder in exchange for $25,000 in cash for the Companys working capital needs. The note bears interest at 6% per annum and matures on April 24, 2018. The stockholder has the option to convert the note and accrued interest into the Companys common stock at $.0125 per share. At June 30, 2017 and December 31, 2016, accrued interest on the notes were $4,434 and $2,816, respectively. Interest expense amounted to $(1,618) and $(748) for the six months ended June 30, 2017 and 2016, respectively. Interest expense amounted to $(952) and $(374) for the three months ended June 30, 2017 and 2016, respectively. |
4. Common Stock
4. Common Stock | 6 Months Ended |
Jun. 30, 2017 | |
Notes | |
4. Common Stock | 4. COMMON STOCK Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights. Holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the Board of Director in its discretion from funds legally available therefore. In the event of liquidation, dissolution or winding up of the Company, the holders of common stock are entitled to share pro rata in all assets remaining after payment in full of all liabilities. All of the outstanding shares of common stock are fully paid and non-assessable. Holders of common stock have no preemptive rights to purchase the Companys common stock. There are no conversions or redemption rights or sinking fund provisions with respect to the common stock. |
5. Subsequent Events
5. Subsequent Events | 6 Months Ended |
Jun. 30, 2017 | |
Notes | |
5. Subsequent Events | 5. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financials were issued. |
2. Summary of Significant Acc11
2. Summary of Significant Accounting Policies: Interim Presentation (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Policies | |
Interim Presentation | Interim Presentation The December 31, 2016 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 June 30, 2017, its results of operations for the three and six months ended June 30, 2017 and 2016 and its cash flows for the six months ended June 30, 2017 and 2016. The statements of operations for the three and six months ended June 30, 2017 and 2016 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 Companys annual Report on Form 10-K for the year ended December 31, 2016. |
2. Summary of Significant Acc12
2. Summary of Significant Accounting Policies: Loss Per Share (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Policies | |
Loss Per Share | Loss Per Share The Company computes loss per share in accordance with FASB 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 six months ended June 30, 2017 and 2016 as their effect would be anti-dilutive: Six months ended June 30, 2017 Six months ended June 30, 2016 Convertible notes payable and accrued interest - stockholder (Weighted average) 5,954,740 2,134,795 |
2. Summary of Significant Acc13
2. Summary of Significant Accounting Policies: Going Concern (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
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 $(442,611) at June 30, 2017. 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 Companys obligations through June 30, 2018 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 Acc14
2. Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
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 Acc15
2. Summary of Significant Accounting Policies: Loss Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Tables/Schedules | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Six months ended June 30, 2017 Six months ended June 30, 2016 Convertible notes payable and accrued interest - stockholder (Weighted average) 5,954,740 2,134,795 |
2. Summary of Significant Acc16
2. Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Tables/Schedules | |
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 Acc17
2. Summary of Significant Accounting Policies: Loss Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Details | ||
Increase (Decrease) in Accounts Payable, Related Parties | $ 5,954,740 | $ 2,134,795 |
2. Summary of Significant Acc18
2. Summary of Significant Accounting Policies: Going Concern (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Details | ||
Accumulated deficit | $ (442,611) | $ (431,625) |
3. Convertible Notes Payable 19
3. Convertible Notes Payable - Stockholder (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Apr. 24, 2017 | Dec. 31, 2016 | Sep. 09, 2016 | May 18, 2015 | |
Details | ||||||||
Value of convertible note payable | $ 25,000 | $ 20,000 | $ 25,000 | |||||
Per share value of convertible note payable | $ 0.0125 | $ 0.0125 | $ 0.0125 | |||||
Accrued interest - stockholder | $ 4,434 | $ 4,434 | $ 2,816 | |||||
Interest expense - stockholder | $ (952) | $ (374) | $ (1,618) | $ (748) |