Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 27, 2015 | Jun. 30, 2014 | |
Document And Entity Information | |||
Entity Registrant Name | PETRONE WORLDWIDE, INC. | ||
Entity Central Index Key | 1096132 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Current Fiscal Year End Date | -19 | ||
Is Entity a Well-known Seasoned Issuer? | No | ||
Is Entity a Voluntary Filer? | No | ||
Is Entity's Reporting Status Current? | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $88,023 | ||
Entity Common Stock, Shares Outstanding | 15,274,303 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2014 |
Balance_Sheet
Balance Sheet (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Assets: | ||
Current Assets | $77,803 | $8,012 |
Total Current Assets | 77,803 | 8,012 |
Other Assets | ||
Deposits | 70,000 | |
Total Other Assets | 70,000 | |
Total Assets | 147,803 | 8,012 |
Current Liabilities | ||
Accrued Expenses | 15,000 | 10,000 |
Note Payable | 30,000 | 20,000 |
Total Current Liabilities | 45,000 | 30,000 |
Non-Current Liabilities: | ||
Notes Payable | ||
Total Non-Current Liabilities | ||
Total Liabilities | 45,000 | 30,000 |
Stockholders' Deficit: | ||
Common Stock: par value $0.001, 100,000,000 shares authorized 15,274,303 and 95,607 shares issued and outstanding, respectively | 15,274 | 96 |
Additional Paid in Capital | 1,480,135 | -19,996 |
Stock for Services Not Yet Earned | -47,504 | |
Stock Subscription Receivable | 5,485 | |
Retained Deficit | -1,339,617 | -2,088 |
Total Stockholders’ Equity (Deficit) | 102,803 | -21,988 |
Total Liabilities and Stockholders’ Equity | $147,803 | $8,012 |
Balance_Sheet_Parenthetical
Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ||
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 15,274,303 | 95,607 |
Common stock, shares outstanding | 15,274,303 | 95,607 |
Statement_Of_Operations
Statement Of Operations (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | ||
Revenues-Consulting | $88,305 | $232,664 |
Product Revenue | ||
Operating Expenses: | ||
Selling, general and administrative | 338,029 | 234,711 |
Stock for Services | 1,087,805 | |
Operating Expenses | 1,425,834 | 234,711 |
Operating (Loss) | -1,337,529 | -2,047 |
Other Income (Expense): | ||
Interest Expense | ||
Total Other Expenses | ||
Net Profit (Loss) | ($1,337,529) | ($2,047) |
Loss per Share | ($0.19) | ($0.02) |
Weighted Average Shares Outstanding | 6,997,483 | 95,607 |
Statement_Of_Stockholders_Defi
Statement Of Stockholders’ Deficit (USD $) | Common Stock | Additional Paid in Capital | Stock for Services not Yet Earned | Stock Subscription Receivable | Accumulated Deficit | Total |
Balance value at Dec. 31, 2012 | $96 | ($19,996) | ($41) | ($19,941) | ||
Balance shares at Dec. 31, 2012 | 95,607 | |||||
Net Loss for the year | -2,047 | -2,047 | ||||
Balance value at Dec. 31, 2013 | 96 | -19,996 | -2,088 | -21,988 | ||
Balance shares at Dec. 31, 2013 | 95,607 | 95,607 | ||||
Shares issued for services on 2/3/2014, shares | 100,000 | |||||
Shares issued for services on 2/3/2014, value | 100 | 49,900 | 50,000 | |||
Shares issued for merger 3/3, shares | 1,760,542 | |||||
Shares issued for merger 3/3, value | 1,760 | -1,760 | ||||
Shares issued for cash 8/1/2014, shares | 220,000 | |||||
Shares issued for cash 8/1/2014, value | 220 | 99,780 | 100,000 | |||
Shares issued for Services on 8/1/2014, shares | 2,255,664 | |||||
Shares issued for Services on 8/1/2014, value | 2,255 | 1,022,945 | 1,025,200 | |||
Shares issued to Founder on 8/1/2014, shares | 10,000,000 | |||||
Shares issued to Founder on 8/1/2014, value | 10,000 | 10,000 | ||||
Share issued for Services on 11/18/2014, shares | 31,108 | |||||
Share issued for Services on 11/18/2014, value | 31 | 12,413 | 1,037 | |||
Shares issued on 11/18/2014 for cash, shares | 19,998 | |||||
Shares issued on 11/18/2014 for cash, value | 20 | 4,980 | -11,407 | -485 | 4,515 | |
Shares issued on 12/8/2014 for cash, shares | 425,000 | |||||
Shares issued on 12/8/2014 for cash, value | 425 | 169,575 | 170,000 | |||
Shares issued 12/8/2014 For cash to be received, shares | 22,220 | |||||
Shares issued 12/8/2014 For cash to be received, value | 22 | 4,978 | -5,000 | |||
Shares issued 12/11/2014 for cash, shares | 250,000 | |||||
Shares issued 12/11/2014 for cash, value | 250 | 99,750 | 100,000 | |||
Stock issued 12/11/2014 for services, shares | 94,164 | |||||
Stock issued 12/11/2014 for services, value | 95 | 37,570 | -36,097 | 1,568 | ||
Net Loss for the year | -1,337,529 | -1,337,529 | ||||
Balance value at Dec. 31, 2014 | $15,274 | $1,480,135 | ($47,504) | ($5,485) | ($1,339,617) | $102,803 |
Balance shares at Dec. 31, 2014 | 15,274,303 | 15,274,303 |
Statement_Of_Stockholders_Defi1
Statement Of Stockholders’ Deficit (Parenthetical) | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||
Dec. 11, 2014 | Dec. 08, 2014 | Nov. 18, 2014 | Aug. 01, 2014 | Mar. 03, 2014 | Feb. 03, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | |
Common Stock | ||||||||
Shares issued for services | 31,108 | 2,255,664 | 100,000 | 100,000 | ||||
Shares issued for merger | 1,760,542 | 1,760,542 | ||||||
Shares issued for cash | 250,000 | 425,000 | 19,998 | 220,000 | 220,000 | 220,000 | ||
Shares issued to Founder | 10,000,000 | |||||||
Shares issued For cash to be received, shares | 22,220 | 22,220 | ||||||
Common Stock | Sole Officer And Director | ||||||||
Shares issued to Founder | 10,000,000 | |||||||
Stock for Services not Yet Earned | ||||||||
Shares issued for services | 94,164 |
Statement_Of_Cash_Flows
Statement Of Cash Flows (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOW FROM OPERATING ACTIVITES: | ||
Net Loss for the Period | ($1,337,529) | ($2,047) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Stock issued for services and not yet earned | 1,087,805 | |
Changes in Operating Assets and Liabilities: | ||
Deposits | -70,000 | |
Increase Accrued Expenses | 5,000 | 10,000 |
Net Cash (Used) in Operating Activities | -314,724 | 7,953 |
Net Cash Provided by Financing Activities: | ||
Cash received for Stock issuance | 374,515 | |
Proceeds from loans | 10,000 | |
Net Cash Provided by Financing Activities | 384,515 | |
Increase in Cash | 69,791 | 7,953 |
Cash at the beginning | 8,012 | 59 |
Cash at the end | $77,774 | $8,012 |
Organization_And_Description_O
Organization And Description Of Business | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Organization and Description of Business | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS |
Petrone Worldwide, Inc. (the “Company”) was incorporated as Sheridan Industries, Inc. on December 14, 1998 in the state of Nevada. On December 31, 1998 the Company changed its name to Diabetex International Corp. On February 26, 2014 the Company effectuated a name change to Petrone Worldwide, Inc. and subsequently on March 3, 2014 completed an acquisition which was treated for accounting purposes as a reverse merger. Hence, the accounting information that is presented is that of the acquired entity which is the surviving entity. The operation is both a consulting business in the hospitality industry as well as a supplier of table top kitchenware and hotel room products thru an exclusive licensing agreement with a leading supplier. |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Accounting Policies [Abstract] | |||||
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||
(A) Basis of Presentation | |||||
The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |||||
On February 26, 2014 the Company effectuated a 1 to 500 reverse stock split on its common stock. The financials have been restated to reflect this split for all periods presented. | |||||
(B) Use of Estimates | |||||
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include estimated useful lives and potential impairment of property and equipment, estimate of fair value of share based payments and derivative instruments and recorded debt discount, valuation of deferred tax assets and valuation of in-kind contribution of services and interest. | |||||
(C) Cash and Cash Equivalents | |||||
The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At December 31, 2014 and 2013, the Company had no cash equivalents. | |||||
(D) Loss Per Share | |||||
In accordance with the accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share” basic loss per share is computed by dividing net loss by weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. | |||||
The computation of basic and diluted loss per share at December 31, 2014 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive: | |||||
December 31, | |||||
2014 | |||||
Note Payable (Exercise price –market $20,000 div. by .40) | 50,000 | ||||
Total | 50,000 | ||||
(E) Operating Leases | |||||
The Company commencing in March of 2015 leases office space in London England under a year lease agreement. | |||||
(F) Business Segments | |||||
The Company currently operates in one segment and therefore segment information is not presented. | |||||
(G) Revenue Recognition | |||||
The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “Revenue Recognition”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured. | |||||
(H) Fair Value of Financial Instruments | |||||
The Company applies the accounting guidance under Financial Accounting Standards Board (“FASB”) ASC 820-10, “Fair Value Measurements”, as well as certain related FASB staff positions. This guidance defines fair value as the price that would be received from m selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact business and considers assumptions that marketplace participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. | |||||
The guidance also establishes a fair value hierarchy for measurements of fair value as follows: | |||||
● | Level 1 - quoted market prices in active markets for identical assets or liabilities. | ||||
● | Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||
● | Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||
The Company's financial instruments consist of accounts payable, accrued expenses, notes payable, notes payable - related party, loan payable - related party, convertible notes payable, convertible notes payable - related party and deferred rent payable. The carrying amount of the Company's financial instruments approximates their fair value as of November 30,2014 and May 31, 2014, due to the short-term nature of these instruments. | |||||
The Company accounts for its derivative liabilities, at fair value, on a recurring basis under level 3 (see Note 8). | |||||
(I) Embedded Conversion Features | |||||
The Company evaluates embedded conversion features within convertible debt under ASC 815 “Derivatives and Hedging” to determine whether the embedded conversion feature(s) should be bifurcated from the host instrument and accounted for as a derivative at fair value with changes in fair value recorded in earnings. If the conversion feature does not require derivative treatment under ASC 815, the instrument is evaluated under ASC 470-20 “Debt with Conversion and Other Options” for consideration of any beneficial conversion features. | |||||
(J) Derivative Financial Instruments | |||||
Fair value accounting requires bifurcation of embedded derivative instruments such as conversion features in convertible debt or equity instruments, and measurement of their fair value for accounting purposes. In determining the appropriate fair value, the Company uses the Black-Scholes option-pricing model. In assessing the convertible debt instruments, management determines if the convertible debt host instrument is conventional convertible debt and further if there is a beneficial conversion feature requiring measurement. If the instrument is not considered conventional convertible debt, the Company will continue its evaluation process of these instruments as derivative financial instruments. | |||||
Once determined, derivative liabilities are adjusted to reflect fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives. In addition, the fair value of freestanding derivative instruments such as warrants, are also valued using the Black-Scholes option-pricing model. | |||||
(K) Beneficial Conversion Feature | |||||
For conventional convertible debt where the rate of conversion is below market value, the Company records a "beneficial conversion feature" ("BCF") and related debt discount. | |||||
When the Company records a BCF, the relative fair value of the BCF is recorded as a debt discount against the face amount of the respective debt instrument (offset to additional paid in capital) and amortized to interest expense over the life of the debt. | |||||
(L) Debt Issue Costs and Debt Discount | |||||
The Company may record debt issue costs and/or debt discounts in connection with raising funds through the issuance of debt. These costs may be paid in the form of cash, or equity (such as warrants). These costs are amortized to interest expense over the life of the debt. If a conversion of the underlying debt occurs, a proportionate share of the unamortized amounts is immediately expensed. | |||||
(M) Stock-Based Compensation - Non Employees | |||||
Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services | |||||
The Company accounts for equity instruments issued to parties other than employees for acquiring goods or services under guidance of Sub-topic 505-50 of the FASB Accounting Standards Codification (“Sub-topic 505-50”). | |||||
Pursuant to ASC Section 505-50-30, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the performance is complete or the date on which it is probable that performance will occur. If the Company is a newly formed corporation or shares of the Company are thinly traded the use of share prices established in the Company’s most recent private placement memorandum (“PPM”), or weekly or monthly price observations would generally be more appropriate than the use of daily price observations as such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. | |||||
The fair value of share options and similar instruments is estimated on the date of grant using a Black-Scholes option-pricing valuation model. The ranges of assumptions for inputs are as follows: | |||||
● | Expected term of share options and similar instruments: Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and holder’s expected exercise behavior into the fair value (or calculated value) of the instruments. The Company uses historical data to estimate holder’s expected exercise behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. | ||||
● | Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. | ||||
● | Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments. | ||||
● | Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments. | ||||
Pursuant to ASC paragraph 505-50-25-7, if fully vested, non-forfeitable equity instruments are issued at the date the grantor and grantee enter into an agreement for goods or services (no specific performance is required by the grantee to retain those equity instruments), then, because of the elimination of any obligation on the part of the counterparty to earn the equity instruments, a measurement date has been reached. A grantor shall recognize the equity instruments when they are issued (in most cases, when the agreement is entered into). Whether the corresponding cost is an immediate expense or a prepaid asset (or whether the debit should be characterized as contra-equity under the requirements of paragraph 505-50-45-1) depends on the specific facts and circumstances. Pursuant to ASC paragraph 505-50-45-1, a grantor may conclude that an asset (other than a note or a receivable) has been received in return for fully vested, non-forfeitable equity instruments that are issued at the date the grantor and grantee enter into an agreement for goods or services (and no specific performance is required by the grantee in order to retain those equity instruments). Such an asset shall not be displayed as contra-equity by the grantor of the equity instruments. The transferability (or lack thereof) of the equity instruments shall not affect the balance sheet display of the asset. This guidance is limited to transactions in which equity instruments are transferred to other than employees in exchange for goods or services. Section 505-50-30 provides guidance on the determination of the measurement date for transactions that are within the scope of this Subtopic. | |||||
Pursuant to Paragraphs 505-50-25-8 and 505-50-25-9, an entity may grant fully vested, non-forfeitable equity instruments that are exercisable by the grantee only after a specified period of time if the terms of the agreement provide for earlier exercisability if the grantee achieves specified performance conditions. Any measured cost of the transaction shall be recognized in the same period(s) and in the same manner as if the entity had paid cash for the goods or services or used cash rebates as a sales discount instead of paying with, or using, the equity instruments. A recognized asset, expense, or sales discount shall not be reversed if a share option and similar instrument that the counterparty has the right to exercise expires unexercised. | |||||
Pursuant to ASC paragraph 505-50-30-S99-1, if the Company receives a right to receive future services in exchange for unvested, forfeitable equity instruments, those equity instruments are treated as unissued for accounting purposes until the future services are received (that is, the instruments are not considered issued until they vest). Consequently, there would be no recognition at the measurement date and no entry should be recorded. | |||||
(N) Recent Accounting Pronouncements | |||||
In June 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The update removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company’s current activities. Furthermore, the update removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage. The update is effective for the annual reporting periods beginning after December 15, 2014, including interim periods therein. Early application with the first annual reporting period or interim period for which the entity’s financial statements have not yet been issued (Public business entities) or made available for issuance (other entities). The Company adopted this pronouncement for the three months ended August 31, 2014. | |||||
In June 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-12, “Compensation – Stock Compensation ( Topic 718 ); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This updated guidance is not expected to have a material impact on our results of operations, cash flows or financial condition. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition. | |||||
In August 2014, the FASB issued Accounting Standards Update “ASU” 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition. | |||||
All other newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable. |
Deposits
Deposits | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
DisclosureDepositsAbstract | |||||||||
Deposits | NOTE 3 - DEPOSITS | ||||||||
31-Dec-14 | 31-Dec-13 | ||||||||
Product | 65,000 | — | |||||||
Warehouse Space | 5,000 | — | |||||||
70,000 | — | ||||||||
At December 31, 2014 the company had on Deposit $65,000 for inventory product and $5,000 deposit for its new warehouse. |
Note_Payable
Note Payable | 12 Months Ended |
Dec. 31, 2014 | |
Debt Disclosure [Abstract] | |
Note Payable | NOTE 4 - NOTE PAYABLE |
The Company had one convertible note payable for $20,000 for an individual who paid for professional costs for the Company. The note expired in 2012 and is convertible into shares of stock at the market price. | |
The Company is also obligated to an unrelated third party for $10,000 payable on demand without interest. |
Going_Concern
Going Concern | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 5 - GOING CONCERN |
As reflected in the accompanying financial statements, the Company had a significant loss, with minimal revenue. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. | |
Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions | |
Related Party Transactions | NOTE 6 - RELATED PARTY TRANSACTIONS |
At December 31, 2014 and 2013 the Company paid its chief executive officer for services $102,078 and $148,159 respectively. | |
On August 1, 2014 the Company issued 10,000,000 shares to its officer valued as founders shares at par for services. | |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2014 | |
Equity [Abstract] | |
Stockholders' Equity | NOTE 7 - STOCKHOLDERS’ EQUITY |
Common Stock Authorized | |
The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001. | |
Common Stock Issued | |
On February 3, 2014 the Company issued 100,000 shares post split shares to its former officer for services. These shares were valued at the price the Company has raised funds or .50 and its expense is shown in the statement of operations as stock for services. | |
On March 3, 2014 the Company issued 1,760,542 shares to effect the reverse merger. The shares were valued at .50 and shown as a reduction of paid in capital. | |
In March 2014 the Company received $100,000 for stock to be issued of 220,000 shares. | |
On August 1, 2014 the Company issued 12,475,664 shares of stock. Of this amount 10,000,000 were issued to its sole officer and director at par for founder shares of $10,000. 220,000 shares were issued for cash of $100,000 which created a market price of .4545 per share. The remainder of the shares were issued for services over four months to October 31, 2014. The shares for services of 2,255,664 resulted in a value of $1,025,200. | |
On November 18, 2014 51,106 shares were issued of which 31,108 shares were issued for services valued at the price the company raised money on in November of .40 per share. 19,998 shares were issued for cash of $5,000, $485 of which is to be received and is accounted for as a subscription receivable in the equity section. | |
On December 8, 2014 the company issued 447,220 shares of which 425,000 shares were issued for cash of $170,000 and 22,220 shares for cash of $5,000 which was received subsequent to December 31, 2014 and is shown in the equity section of the balance sheet as a subscription receivable. | |
On December 11, 2014 the Company issued 344,164 shares of which 250,000 shares were issued for cash of $100,000 and 94,164 shares for services performed and yet to be performed. |
Commitment_And_Contingencies
Commitment And Contingencies | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||
Commitment and Contingencies | NOTE 8 - COMMITMENT AND CONTINGENCIES | |||||
In March of 2015, a date subsequent to the balance sheet date the Company entered into a year rental agreement for office space The base rent indicates a monthly charge of $3,400. Future minimum rental costs are as follows: | ||||||
2015 | $ | 34,000 | ||||
2016 | $ | 6,800 |
Subsequent_Events
Subsequent Events | 12 Months Ended | ||
Dec. 31, 2014 | |||
Subsequent Events [Abstract] | |||
Subsequent Events | NOTE 9 - SUBSEQUENT EVENTS | ||
Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that other than the material subsequent event disclosed below no other event required disclosure: | |||
1 | From January 1 to March 20, 2015 the Company became a distributor of product and no longer is a consulting based operation. During this period $496,997 of sales was recognized. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policies) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Accounting Policies [Abstract] | |||||
Basis of Presentation | (A) Basis of Presentation | ||||
The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |||||
On February 26, 2014 the Company effectuated a 1 to 500 reverse stock split on its common stock. The financials have been restated to reflect this split for all periods presented. | |||||
Use of Estimates | (B) Use of Estimates | ||||
In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include estimated useful lives and potential impairment of property and equipment, estimate of fair value of share based payments and derivative instruments and recorded debt discount, valuation of deferred tax assets and valuation of in-kind contribution of services and interest. | |||||
Cash and Cash Equivalents | (C) Cash and Cash Equivalents | ||||
The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At December 31, 2014 and 2013, the Company had no cash equivalents. | |||||
Loss Per Share | (D) Loss Per Share | ||||
In accordance with the accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share” basic loss per share is computed by dividing net loss by weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. | |||||
The computation of basic and diluted loss per share at December 31, 2014 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive: | |||||
December 31, | |||||
2014 | |||||
Note Payable (Exercise price –market $20,000 div. by .40) | 50,000 | ||||
Total | 50,000 | ||||
Operating Leases | (E) Operating Leases | ||||
The Company commencing in March of 2015 leases office space in London England under a year lease agreement. | |||||
Business Segments | (F) Business Segments | ||||
The Company currently operates in one segment and therefore segment information is not presented. | |||||
Revenue Recognition | (G) Revenue Recognition | ||||
The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “Revenue Recognition”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured. | |||||
Fair Value of Financial Instruments | (H) Fair Value of Financial Instruments | ||||
The Company applies the accounting guidance under Financial Accounting Standards Board (“FASB”) ASC 820-10, “Fair Value Measurements”, as well as certain related FASB staff positions. This guidance defines fair value as the price that would be received from m selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact business and considers assumptions that marketplace participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. | |||||
The guidance also establishes a fair value hierarchy for measurements of fair value as follows: | |||||
● | Level 1 - quoted market prices in active markets for identical assets or liabilities. | ||||
● | Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||
● | Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||
The Company's financial instruments consist of accounts payable, accrued expenses, notes payable, notes payable - related party, loan payable - related party, convertible notes payable, convertible notes payable - related party and deferred rent payable. The carrying amount of the Company's financial instruments approximates their fair value as of November 30,2014 and May 31, 2014, due to the short-term nature of these instruments. | |||||
The Company accounts for its derivative liabilities, at fair value, on a recurring basis under level 3 (see Note 8). | |||||
Embedded Conversion Features | (I) Embedded Conversion Features | ||||
The Company evaluates embedded conversion features within convertible debt under ASC 815 “Derivatives and Hedging” to determine whether the embedded conversion feature(s) should be bifurcated from the host instrument and accounted for as a derivative at fair value with changes in fair value recorded in earnings. If the conversion feature does not require derivative treatment under ASC 815, the instrument is evaluated under ASC 470-20 “Debt with Conversion and Other Options” for consideration of any beneficial conversion features. | |||||
Derivative Financial Instruments | (J) Derivative Financial Instruments | ||||
Fair value accounting requires bifurcation of embedded derivative instruments such as conversion features in convertible debt or equity instruments, and measurement of their fair value for accounting purposes. In determining the appropriate fair value, the Company uses the Black-Scholes option-pricing model. In assessing the convertible debt instruments, management determines if the convertible debt host instrument is conventional convertible debt and further if there is a beneficial conversion feature requiring measurement. If the instrument is not considered conventional convertible debt, the Company will continue its evaluation process of these instruments as derivative financial instruments. | |||||
Once determined, derivative liabilities are adjusted to reflect fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives. In addition, the fair value of freestanding derivative instruments such as warrants, are also valued using the Black-Scholes option-pricing model. | |||||
Beneficial Conversion Feature | (K) Beneficial Conversion Feature | ||||
For conventional convertible debt where the rate of conversion is below market value, the Company records a "beneficial conversion feature" ("BCF") and related debt discount. | |||||
When the Company records a BCF, the relative fair value of the BCF is recorded as a debt discount against the face amount of the respective debt instrument (offset to additional paid in capital) and amortized to interest expense over the life of the debt. | |||||
Debt Issue Costs and Debt Discount | (L) Debt Issue Costs and Debt Discount | ||||
The Company may record debt issue costs and/or debt discounts in connection with raising funds through the issuance of debt. These costs may be paid in the form of cash, or equity (such as warrants). These costs are amortized to interest expense over the life of the debt. If a conversion of the underlying debt occurs, a proportionate share of the unamortized amounts is immediately expensed. | |||||
Stock-Based Compensation - Non Employees | (M) Stock-Based Compensation - Non Employees | ||||
Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services | |||||
The Company accounts for equity instruments issued to parties other than employees for acquiring goods or services under guidance of Sub-topic 505-50 of the FASB Accounting Standards Codification (“Sub-topic 505-50”). | |||||
Pursuant to ASC Section 505-50-30, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the performance is complete or the date on which it is probable that performance will occur. If the Company is a newly formed corporation or shares of the Company are thinly traded the use of share prices established in the Company’s most recent private placement memorandum (“PPM”), or weekly or monthly price observations would generally be more appropriate than the use of daily price observations as such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. | |||||
The fair value of share options and similar instruments is estimated on the date of grant using a Black-Scholes option-pricing valuation model. The ranges of assumptions for inputs are as follows: | |||||
● | Expected term of share options and similar instruments: Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and holder’s expected exercise behavior into the fair value (or calculated value) of the instruments. The Company uses historical data to estimate holder’s expected exercise behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. | ||||
● | Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. | ||||
● | Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments. | ||||
● | Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments. | ||||
Pursuant to ASC paragraph 505-50-25-7, if fully vested, non-forfeitable equity instruments are issued at the date the grantor and grantee enter into an agreement for goods or services (no specific performance is required by the grantee to retain those equity instruments), then, because of the elimination of any obligation on the part of the counterparty to earn the equity instruments, a measurement date has been reached. A grantor shall recognize the equity instruments when they are issued (in most cases, when the agreement is entered into). Whether the corresponding cost is an immediate expense or a prepaid asset (or whether the debit should be characterized as contra-equity under the requirements of paragraph 505-50-45-1) depends on the specific facts and circumstances. Pursuant to ASC paragraph 505-50-45-1, a grantor may conclude that an asset (other than a note or a receivable) has been received in return for fully vested, non-forfeitable equity instruments that are issued at the date the grantor and grantee enter into an agreement for goods or services (and no specific performance is required by the grantee in order to retain those equity instruments). Such an asset shall not be displayed as contra-equity by the grantor of the equity instruments. The transferability (or lack thereof) of the equity instruments shall not affect the balance sheet display of the asset. This guidance is limited to transactions in which equity instruments are transferred to other than employees in exchange for goods or services. Section 505-50-30 provides guidance on the determination of the measurement date for transactions that are within the scope of this Subtopic. | |||||
Pursuant to Paragraphs 505-50-25-8 and 505-50-25-9, an entity may grant fully vested, non-forfeitable equity instruments that are exercisable by the grantee only after a specified period of time if the terms of the agreement provide for earlier exercisability if the grantee achieves specified performance conditions. Any measured cost of the transaction shall be recognized in the same period(s) and in the same manner as if the entity had paid cash for the goods or services or used cash rebates as a sales discount instead of paying with, or using, the equity instruments. A recognized asset, expense, or sales discount shall not be reversed if a share option and similar instrument that the counterparty has the right to exercise expires unexercised. | |||||
Pursuant to ASC paragraph 505-50-30-S99-1, if the Company receives a right to receive future services in exchange for unvested, forfeitable equity instruments, those equity instruments are treated as unissued for accounting purposes until the future services are received (that is, the instruments are not considered issued until they vest). Consequently, there would be no recognition at the measurement date and no entry should be recorded. | |||||
Recent Accounting Pronouncements | (N) Recent Accounting Pronouncements | ||||
In June 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The update removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company’s current activities. Furthermore, the update removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage. The update is effective for the annual reporting periods beginning after December 15, 2014, including interim periods therein. Early application with the first annual reporting period or interim period for which the entity’s financial statements have not yet been issued (Public business entities) or made available for issuance (other entities). The Company adopted this pronouncement for the three months ended August 31, 2014. | |||||
In June 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-12, “Compensation – Stock Compensation ( Topic 718 ); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This updated guidance is not expected to have a material impact on our results of operations, cash flows or financial condition. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition. | |||||
In August 2014, the FASB issued Accounting Standards Update “ASU” 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition. | |||||
All other newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable. |
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Summary Of Significant Accounting Policies Tables | |||||
Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share | The computation of basic and diluted loss per share at December 31, 2014 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive: | ||||
December 31, | |||||
2014 | |||||
Note Payable (Exercise price –market $20,000 div. by .40) | 50,000 | ||||
Total | 50,000 |
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Deposits Tables | |||||||||
Schedule of Deposits | 31-Dec-14 | 31-Dec-13 | |||||||
Product | 65,000 | — | |||||||
Warehouse Space | 5,000 | — | |||||||
70,000 | — | ||||||||
Commitment_And_Contingencies_T
Commitment And Contingencies (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Commitment And Contingencies Tables | ||||||
Schedule of Future Minimum Rental Costs | Future minimum rental costs are as follows | |||||
2015 | $ | 100,000 | ||||
2016 | $ | 120,000 | ||||
2017 | $ | 120,000 | ||||
2018 | $ | 120,000 | ||||
2019 | $ | 20,000 |
Summary_Of_Significant_Account3
Summary Of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Note Payable (Exercise price bmarket $20,000 div. by .40) | 50,000 |
Note Payable | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Note Payable (Exercise price bmarket $20,000 div. by .40) | 50,000 |
Summary_Of_Significant_Account4
Summary Of Significant Accounting Policies (Details) (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Note Payable | $30,000 | $20,000 |
Note Payable | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Note Payable | $20,000 | |
Exercise Price | $0.40 |
Deposits_Details
Deposits (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Deposits | $70,000 | |
Warehouse Space | ||
Deposits | 5,000 | |
Product | ||
Deposits | $65,000 |
Commitment_And_Contingencies_D
Commitment And Contingencies (Details) (USD $) | Dec. 31, 2014 |
Commitment And Contingencies Details | |
2015 | $34,000 |
2016 | $6,800 |
Summary_Of_Significant_Account5
Summary Of Significant Accounting Policies (Narrative) (Details) (Common Stock) | 0 Months Ended |
Feb. 26, 2014 | |
Common Stock | |
Reverse stock split | 1 to 500 |
Note_Payable_Narrative_Details
Note Payable (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ||
Note payable | $30,000 | $20,000 |
Convertible Note Payable - Individual | ||
Debt Instrument [Line Items] | ||
Convertible note issued for an individual who paid for professional costs | 20,000 | |
Convertible note description | The note expired in 2012 and is convertible into shares of stock at the market price. | |
Notes Payable - Unrelated Third Party | ||
Debt Instrument [Line Items] | ||
Note payable | $10,000 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (Chief Executive Officer, USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Chief Executive Officer | ||
Related Party Transaction [Line Items] | ||
Paid to related party for services | $102,078 | $148,159 |
Stockholders_Equity_Narrative_
Stockholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | ||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 11, 2014 | Dec. 08, 2014 | Nov. 18, 2014 | Aug. 01, 2014 | Mar. 03, 2014 | Feb. 03, 2014 | Mar. 31, 2014 | |
Stock issued for services, value | $50,000 | ||||||||
Shares issued to founder, value | 10,000 | ||||||||
Stock issued for cash, value | 100,000 | ||||||||
Proceeds from issuance of stock | 374,515 | ||||||||
Stock Subscription Receivable | 5,485 | ||||||||
Common Stock | |||||||||
Total shares issued for services and cash | 344,164 | 447,220 | 51,106 | 12,475,664 | |||||
Stock issued for services, shares | 100,000 | 31,108 | 2,255,664 | 100,000 | |||||
Stock issued for services, value | 100 | 1,025,200 | |||||||
Shares issued to founder, shares | 10,000,000 | ||||||||
Shares issued to founder, value | 10,000 | ||||||||
Share issue price | $0.40 | $0.45 | $0.50 | ||||||
Shares issued under reverse merger | 1,760,542 | 1,760,542 | |||||||
Stock issued for cash, shares | 220,000 | 250,000 | 425,000 | 19,998 | 220,000 | 220,000 | |||
Stock issued for cash, value | 220 | 100,000 | 170,000 | 5,000 | 100,000 | ||||
Shares issued for cash to be received, shares | 22,220 | 22,220 | |||||||
Proceeds from issuance of stock | 100,000 | ||||||||
Stock Subscription Receivable | 5,000 | 485 | |||||||
Common Stock | Sole Officer And Director | |||||||||
Shares issued to founder, shares | 10,000,000 | ||||||||
Shares issued to founder, value | $10,000 | ||||||||
Common Stock | Former Officer | |||||||||
Stock issued for services, shares | 100,000 | ||||||||
Share issue price | 0.5 | ||||||||
Stock for Services not Yet Earned | |||||||||
Stock issued for services, shares | 94,164 |
Commitment_And_Contingencies_N
Commitment And Contingencies (Narrative) (Details) (USD $) | 1 Months Ended |
Sep. 30, 2014 | |
Commitment And Contingencies Narrative Details | |
Monthly rent | $3,400 |
Subsequent_Events_Narrative_De
Subsequent Events (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | Mar. 20, 2015 | |
Subsequent Event [Line Items] | |||
Product revenue | |||
Subsequent Event | |||
Subsequent Event [Line Items] | |||
Product revenue | $496,997 |