Baynon International 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 13, 2020
Details
Registrant CIK	0001089598
Fiscal Year End	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	000-26653
Entity Registrant Name	Baynon International Corp
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	88-0285718
Entity Address, Address Line One	266 Cedar Street
Entity Address, City or Town	Cedar Grove
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07009
Entity Address, Address Description	(Address of Principal Executive Offices
Phone Fax Number Description	Baynon's Telephone Number, Including Area Code:
City Area Code	973
Local Phone Number	239-2952
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		43,465,233
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

BALANCE SHEETS (March 31, 2020

BALANCE SHEETS (March 31, 2020 unaudited) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 1,651	$ 5,349
Total Current Assets	1,651	5,349
Total Assets	1,651	5,349
Current Liabilities:
Accounts payable and accrued expenses	20,997	27,536
Convertible notes payable - related parties	115,000	110,000
Accrued interest - related parties	19,969	18,305
Total Current Liabilities	155,966	155,841
Total Liabilities	155,966	155,841
Stockholders' Deficiency
Common Stock, Value, Issued	43,465	43,465
Additional paid-in capital	309,905	309,905
Accumulated deficit	(507,685)	(503,862)
Total Stockholders' Deficiency	(154,315)	(150,492)
Total Liabilities and Stockholders' Deficiency	$ 1,651	$ 5,349

BALANCE SHEETS (March 31, 202_2

BALANCE SHEETS (March 31, 2020 unaudited) - Parenthetical - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Details
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	43,465,233	43,465,233
Common Stock, Shares, Outstanding	43,465,233	43,465,233

STATEMENTS OF OPERATIONS (unaud

STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Details
Revenues	$ 0	$ 0
General and administrative expenses	2,160	4,500
Operating loss	(2,160)	(4,500)
Other Income (Expense):
Interest income	1	1
Interest expense - related parties	(1,664)	(1,331)
Total Other Income (Expense)	(1,663)	(1,330)
Net Loss	$ (3,823)	$ (5,830)
Loss per share:
Basic and diluted loss per common share	$ 0	$ 0
Basic and diluted common shares outstanding	43,465,233	43,465,233

STATEMENTS OF STOCKHOLDERS' DEF

STATEMENTS OF STOCKHOLDERS' DEFICIT (unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance, Starting at Dec. 31, 2018	$ 43,465	$ 309,905	$ (475,733)	$ (122,363)
Shares Outstanding, Starting at Dec. 31, 2018	43,465,233
Net Income (Loss)	$ 0	0	(5,830)	(5,830)
Shares Outstanding, Ending at Mar. 31, 2019	43,465,233
Equity Balance, Ending at Mar. 31, 2019	$ 43,465	309,905	(481,563)	(128,193)
Equity Balance, Starting at Dec. 31, 2019	$ 43,465	309,905	(503,862)	(150,492)
Shares Outstanding, Starting at Dec. 31, 2019	43,465,233
Net Income (Loss)	$ 0	0	(3,823)	(3,823)
Shares Outstanding, Ending at Mar. 31, 2020	43,465,233
Equity Balance, Ending at Mar. 31, 2020	$ 43,465	$ 309,905	$ (507,685)	$ (154,315)

STATEMENTS OF CASH FLOWS (unaud

STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from Operating Activities:
Net loss	$ (3,823)	$ (5,830)
Adjustments to reconcile net loss to net cash used in operating activities:
Increase in accrued interest to related parties	1,664	1,331
Decrease in accounts payable and accrued expenses	(6,539)	(8,009)
Net cash used in operating activities	(8,698)	(12,508)
Cash flows from Financing Activities:
Proceeds from related party note payable	5,000	0
Net cash provided by financing activities	5,000	0
Decrease in Cash and Cash Equivalents	(3,698)	(12,508)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	5,349	13,808
Cash and Cash Equivalents, at Carrying Value, Ending Balance	1,651	1,300
Supplemental Disclosures of Cash Flow Information:
Income taxes	0	0
Interest	$ 0	$ 0

1. THE COMPANY

1. THE COMPANY	3 Months Ended
	Mar. 31, 2020
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 since 2013. 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	3 Months Ended
	Mar. 31, 2020
Notes
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Interim Presentation The December 31, 2019 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles generally accepted in the United States of America. 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 March 31, 2020, its results of operations for the three months ended March 31, 2020 and 2019 and its cash flows for the three months ended March 31, 2020 and 2019. The statements of operations for the three months ended March 31, 2020 and 2019 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, 2019. 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 three months ended March 31, 2020 and 2019 as their effect would be anti-dilutive: 2020 2019 Convertible note payable and accrued interest 10,797,479 8,274,740 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 net losses and negative cash flows from operations. 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 May 31, 2021 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. The carrying value of convertible notes payable – related parties approximate its fair value as of March 31, 2020 and December 31, 2019 as the interest rate on the notes approximate market rates. 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 - RELATED PARTIES	3 Months Ended
	Mar. 31, 2020
Notes
3. CONVERTIBLE NOTES PAYABLE - RELATED PARTIES	3. CONVERTIBLE NOTES PAYABLE – RELATED PARTIES On May 18, 2015, the Company issued an unsecured convertible note payable to a stockholder in exchange for $25,000 in cash for the Company’s working capital needs. The note bears interest at 6% per annum and originally had a term of one year. The note has been extended through May 18, 2021. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $0.0125 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 Company’s working capital needs. The note bears interest at 6% per annum and originally had a term of one year. The note has been extended through September 9, 2020. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share. On April 24, 2017, the Company issued an unsecured convertible note payable to a stockholder in exchange for $25,000 for the Company’s working capital needs. The note bears interest at 6% per annum and originally had a term of one year. The note has been extended through April 24, 2021. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share. On November 16, 2017, the Company issued two unsecured convertible notes payable to stockholders in exchange for $20,000 ($10,000 each) in cash for the Company’s working capital needs. The notes bear interest at 6% per annum and originally had a term of one year. The notes have been extended through November 16, 2020. The stockholders each have the option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share. On May 2, 2019, the Company issued an unsecured convertible note payable to a stockholder in exchange for $20,000 in cash for the Company’s working capital needs. The note bears interest at 6% per annum and originally had a term of one year. The note has been extended through May 2, 2021. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share. On March 10, 2020, the Company issued an unsecured convertible note payable to a stockholder in exchange for $5,000 in cash for the Company’s working capital needs. The note bears interest at 6% per annum and has a term of one year. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share. At March 31, 2020 and December 31, 2019, convertible notes payable – related parties were $115,000 and $110,000, respectively. At March 31, 2020 and December 31, 2019, accrued interest on the notes were $19,969 and $18,305, respectively. Interest expense amounted to $1,664 and $1,331 for the three months ended March 31, 2020 and 2019, respectively.

4. INCOME TAXES

4. INCOME TAXES	3 Months Ended
	Mar. 31, 2020
Notes
4. INCOME TAXES	4. INCOME TAXES The Company recorded no income tax expense for the three months ended March 31, 2020 and 2019 because the estimated annual effective tax rate was zero. As of March 31, 2020, the Company continues to provide a valuation allowance against its net deferred tax assets as the Company believes it is more likely than not that its deferred tax assets will not be realized.

5. COMMON STOCK

5. COMMON STOCK	3 Months Ended
	Mar. 31, 2020
Notes
5. COMMON STOCK	5. 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 Company’s common stock. There are no conversions or redemption rights or sinking fund provisions with respect to the common stock.

6. SUBSEQUENT EVENTS

6. SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Notes
6. SUBSEQUENT EVENTS	6. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financials were issued.

2. SUMMARY OF SIGNIFICANT ACC_2

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Interim Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Interim Presentation	Interim Presentation The December 31, 2019 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles generally accepted in the United States of America. 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 March 31, 2020, its results of operations for the three months ended March 31, 2020 and 2019 and its cash flows for the three months ended March 31, 2020 and 2019. The statements of operations for the three months ended March 31, 2020 and 2019 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, 2019.

2. SUMMARY OF SIGNIFICANT ACC_3

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Loss Per Share (Policies)	3 Months Ended
	Mar. 31, 2020
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 three months ended March 31, 2020 and 2019 as their effect would be anti-dilutive: 2020 2019 Convertible note payable and accrued interest 10,797,479 8,274,740

2. SUMMARY OF SIGNIFICANT ACC_4

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Going Concern (Policies)	3 Months Ended
	Mar. 31, 2020
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 net losses and negative cash flows from operations. 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 May 31, 2021 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 ACC_5

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies)	3 Months Ended
	Mar. 31, 2020
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. The carrying value of convertible notes payable – related parties approximate its fair value as of March 31, 2020 and December 31, 2019 as the interest rate on the notes approximate market rates.

2. SUMMARY OF SIGNIFICANT ACC_6

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2020
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.

1. THE COMPANY (Details)

1. THE COMPANY (Details)	3 Months Ended
	Mar. 31, 2020
Details
Entity Incorporation, Date of Incorporation	Feb. 29, 1968
Entity Incorporation, State or Country Code	NV

2. SUMMARY OF SIGNIFICANT ACC_7

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Loss Per Share (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Details
Convertible notes payable and accrued interest - related parties (weighted average)	$ 10,797,479	$ 8,274,740

2. SUMMARY OF SIGNIFICANT ACC_8

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Going Concern (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Details
Revenues	$ 0	$ 0

3. CONVERTIBLE NOTES PAYABLE _2

3. CONVERTIBLE NOTES PAYABLE - RELATED PARTIES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Convertible notes payable - related parties	$ 115,000		$ 110,000
Accrued interest - related parties	19,969		$ 18,305
Interest Expense	$ 1,664	$ 1,331
Convertible Note #1
Debt Instrument, Issuance Date	May 18, 2015
Debt Instrument, Issuer	Company
Debt Instrument, Collateral	unsecured
Debt Instrument, Description	convertible note
Debt Instrument, Face Amount	$ 25,000
Proceeds from Loans	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Maturity Date	May 18, 2021
Debt Instrument, Convertible, Terms of Conversion Feature	option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share
Convertible Note #2
Debt Instrument, Issuance Date	Sep. 9, 2016
Debt Instrument, Issuer	Company
Debt Instrument, Collateral	unsecured
Debt Instrument, Description	convertible note
Debt Instrument, Face Amount	$ 20,000
Proceeds from Loans	$ 20,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Maturity Date	Sep. 9, 2020
Debt Instrument, Convertible, Terms of Conversion Feature	option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share
Convertible Note #3
Debt Instrument, Issuance Date	Apr. 24, 2017
Debt Instrument, Issuer	Company
Debt Instrument, Collateral	unsecured
Debt Instrument, Description	convertible note
Debt Instrument, Face Amount	$ 25,000
Proceeds from Loans	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Maturity Date	Apr. 24, 2021
Debt Instrument, Convertible, Terms of Conversion Feature	option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share
Convertible Note #4
Debt Instrument, Issuance Date	Nov. 16, 2017
Debt Instrument, Issuer	Company
Debt Instrument, Collateral	unsecured
Debt Instrument, Description	convertible notes
Debt Instrument, Face Amount	$ 20,000
Proceeds from Loans	$ 20,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Maturity Date	Nov. 16, 2020
Debt Instrument, Convertible, Terms of Conversion Feature	option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share
Convertible Note #5
Debt Instrument, Issuance Date	May 2, 2019
Debt Instrument, Issuer	Company
Debt Instrument, Collateral	unsecured
Debt Instrument, Description	convertible note
Debt Instrument, Face Amount	$ 20,000
Proceeds from Loans	$ 20,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Maturity Date	May 2, 2021
Debt Instrument, Convertible, Terms of Conversion Feature	option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share
Convertible Note #6
Debt Instrument, Issuance Date	Mar. 10, 2020
Debt Instrument, Issuer	Company
Debt Instrument, Collateral	unsecured
Debt Instrument, Description	convertible note
Debt Instrument, Face Amount	$ 5,000
Proceeds from Loans	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Convertible, Terms of Conversion Feature	option to convert the note and accrued interest into the Company’s common stock at $0.0125 per share

4. INCOME TAXES (Details)

4. INCOME TAXES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Details
Income Taxes Paid	$ 0	$ 0