Rokk3r (ROKK) 10-K 30 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 01, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	Eight Dragons Co.
Entity Trading Symbol	EGHT
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1100778
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		362,200
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Public Float			$74,235

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current Assets
Cash on hand and in bank	$1,004	$2,568
Total Current Assets	1,004	2,568
Total Assets	1,004	2,568
Current Liabilities
Notes payable to related party	909,308	885,550
Accrued interest payable to related party	644,237	554,801
Total Current Liabilities	1,553,545	1,440,351
Long-Term Liabilities	0	0
Total Liabilities	1,553,545	1,440,351
Commitments and Contingencies
Shareholders' Deficit
Preferred stock - $0.0001 par value.50,000,000 shares authorized None issued and outstanding	0	0
Common stock - $0.0001 par value.100,000,000 shares authorized, 362,200 shares issued and outstanding as of December 31, 2014 and 2013	36	36
Additional paid-in capital	31,690,302	31,690,302
Accumulated deficit	-33,242,879	-33,128,121
Total Shareholders' Deficit	-1,552,541	-1,437,783
Total Liabilities and Shareholders' Deficit	$1,004	$2,568

CONSOLIDATED_BALANCE_SHEETS_PA

CONSOLIDATED BALANCE SHEETS PARENTHETICALS (USD $)	Dec. 31, 2014	Dec. 31, 2013
Parentheticals
Preferred Stock,Par value	$0.00	$0.00
Preferred Stock shares authorized	50,000,000	50,000,000
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	362,200	362,200
Common Stock, shares outstanding	362,200	362,200

STATEMENTS_OF_OPERATIONS

STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Revenues	$0	$0
Expenses
General and administrative expenses	25,322	8,838
Loss from operations	-25,322	-8,838
Other Income (Expense)
Interest expense	-89,436	-88,001
Total other expense	-89,436	-88,001
Loss before provision for income taxes	-114,758	-96,839
Provision for income taxes	0	0
Net Loss	($114,758)	($96,839)
Earnings per share of common stock outstanding computed on net loss - basic and fully diluted	($0.32)	($0.27)
Weighted-average number of shares outstanding - basic and fully diluted	362,200	362,200

STATEMENT_OF_CHANGES_IN_SHAREH

STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICITS (USD $)	Common Stock Shares	Common Stock Amount	Additional Paid-in Capital	Accumulated deficit	Total
		USD ($)	USD ($)	USD ($)	USD ($)
Balance at Jan. 01, 2013	362,200	36	31,690,302	-33,031,282	-1,340,944
Net loss for the year		$0	$0	($96,839)	($96,839)
Balance at Dec. 31, 2013	362,200	36	31,690,302	-33,128,121	-1,437,783
Balance at Jan. 01, 2014
Net loss for the year		$0	$0	($114,758)	($114,758)
Balance at Dec. 31, 2014	362,200	36	31,690,302	-33,242,879	-1,552,541

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities
Net Loss	($114,758)	($96,839)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization	0	0
Increase (Decrease) in
Accounts payable - trade	0	-2,200
Accrued interest payable - related party	89,436	88,001
Net cash used in operating activities	-25,322	-11,038
Cash Flows from Investing Activities	0	0
Cash Flows from Financing Activities
Proceeds from loan from related party	23,758	11,000
Net cash provided by financing activities	23,758	11,000
Increase (Decrease) in Cash	-1,564	-38
Cash at beginning of year	2,568	2,606
Cash at end of year	1,004	2,568
Supplemental Disclosure of Interest and Income Taxes Paid
Interest paid for the year	0	0
Income taxes paid for the year	$0	$0

Organization_and_Description_o

Organization and Description of Business	12 Months Ended
	Dec. 31, 2014
Organization and Description of Business
Organization and Description of Business	NOTE 1 – Organization and Description of Business
	Eight Dragons Company (the “Company”), formerly known as Tahoe Pacific Corporation, Pacific Holdings, Inc. and Ameri-First Financial Group, respectively, is a for profit corporation established under the corporation laws in the State of Nevada.  Its predecessor was incorporated in Delaware on September 27, 1996.
	On October 24, 2007, the Company changed its state of incorporation from Delaware to Nevada by means of a merger with and into Eight Dragons Company, a Nevada corporation formed on September 26, 2007 solely for the purpose of effecting the reincorporation.  The merger was consummated through an exchange of 100 shares in the Nevada Corporation for each share then issued and outstanding in the Delaware corporation.  The Articles of Incorporation and Bylaws of the Nevada corporation are the Articles of Incorporation and Bylaws of the surviving corporation.  Such Articles of Incorporation modified the Company’s capital structure to allow for the issuance of up to 100,000,000 shares of $0.0001 par value common stock and up to 50,000,000 shares of $0.0001 par value preferred stock.
	For periods prior to 2000, the Company participated in numerous unsuccessful ventures and corporate name changes, as discussed in greater detail in previous filings with the U. S. Securities and Exchange Commission.  Since 2000, the Company has had no operations, significant assets or liabilities.
	The Company’s current business plan is to locate and combine with an existing, privately-held company which is profitable or, in management's view, has growth potential, irrespective of the industry in which it is engaged.  A combination may be structured as a merger, consolidation, exchange of the Company's common stock for stock or assets or any other form which will result in the Company being the surviving entity.
	Change in Control
	On August 8, 2014, Mr. Glenn Little, the controlling shareholder, president, secretary, treasurer, and sole director of the Company at that time, entered into a Securities and Debt Purchase Agreement with Rockport Petroleum, Inc. (“Rockport”).  Under the terms of the Purchase Agreement, Mr. Little agreed to sell to Rockport an aggregate of 291,500 shares of Common Stock, representing approximately 80.5% of the Company's currently outstanding shares of Common Stock.  The closing of the purchase and sale of shares pursuant to the Purchase Agreement was effective on August 29, 2014.
	The consideration paid for the acquisition of the Common Stock and the shareholder loans payable by the Company to Mr. Little was an aggregate of approximately $250,000, and was paid from corporate funds of Rockport. The purchase of the shares of Common Stock by Rockport from Mr. Little was consummated in a private transaction and Wm. Christopher Reeder as CEO of Rockport and as CEO of the majority shareholder of Rockport was considered to be in "control" of the Company.
	As a condition of the sale of shares pursuant to the Purchase Agreement, Mr. Little agreed to resign as director, president, secretary and treasurer of the Company and to appoint Mr. Reeder as director of the Company.  Mr. Reeder was appointed as president, secretary and treasurer of the Company immediately following his appointment as director.

Significant_Accounting_Policie

Significant Accounting Policies and Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2014
Significant Accounting Policies and Recent Accounting Pronouncements
Significant Accounting Policies and Recent Accounting Pronouncements	NOTE 2: Significant Accounting Policies and Recent Accounting Pronouncements
	Use of Estimates and Assumptions
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.
	Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
	Fair Value of Financial Instruments
	ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments.  ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements.  Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2014 and 2013.
	The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values.  These financial instruments include cash, accrued liabilities and notes payable.  Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value.
	Basic and Diluted Loss Per Share
	The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period.  Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal.
	Recent Accounting Pronouncements
	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

Going_Concern_Uncertainty

Going Concern Uncertainty	12 Months Ended
	Dec. 31, 2014
Going Concern Uncertainty
Going Concern Uncertainty	NOTE 3 – Going Concern Uncertainty
	The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern.
	The Company has no significant assets or operating activity as of December 31, 2014 and 2013. There are no assurances that the Company will be able to either (1) consummate a business combination transaction with a privately-owned business seeking to become a public company; (2) if successful, achieve a level of revenues adequate to generate sufficient cash flow from operations; or (3) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support the Company's current working capital requirements.  To the extent that funds generated from any private placements, public offerings and/or bank financing are insufficient to support the Company, the Company will have to raise additional working capital.  No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company.  If adequate working capital is not available, the Company may not continue its operations.
	The Company's ultimate continued existence is dependent upon its ability to generate sufficient cash flows from operations or other sources to support its daily operations as well as provide sufficient resources to retire existing liabilities and obligations on a timely basis.
	The Company’s articles of incorporation authorize the issuance of up to 50,000,000 shares of preferred stock and 100,000,000 shares of common stock.  The Company’s ability to issue preferred stock may impede a potential takeover of the Company, which takeover may be in the best interest of stockholders.  The Company’s ability to issue these authorized but unissued securities may also negatively impact the ability to raise additional capital through the sale of debt or equity securities.
	The Company anticipates future sales of equity securities to facilitate either the consummation of a business combination transaction or to raise working capital to support and preserve the integrity of the corporate entity.  However, there is no assurance that the Company will be able to obtain additional funding through the sales of additional equity securities or, that such funding, if available, will be obtained on terms favorable to or affordable by the Company.
	It is the belief of management and significant stockholders that they will provide sufficient working capital necessary to support and preserve the integrity of the corporate entity.    There is no legal obligation for either management or significant stockholders to provide additional future funding.  Further, the Company is at the mercy of future economic trends and business operations for the Company’s majority stockholder to have the resources available to support the Company.
	If no additional operating capital is received during the next twelve months, the Company will be forced to rely on existing cash on hand and upon additional funds loaned by management and/or significant stockholders to preserve the integrity of the corporate entity at this time.  In the event, the Company is unable to acquire advances from management and/or significant stockholders, the Company’s ongoing operations would be negatively impacted. While the Company is of the opinion that good faith estimates of the Company’s ability to secure additional capital in the future to reach our goals have been made, there is no guarantee that the Company will receive sufficient funding to sustain operations or implement any future business plan steps.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Taxes
Income Taxes	NOTE 4 – Income Taxes
	The Company uses the assets and liability method of accounting for income taxes in accordance with FASB Topic 740 “Income Taxes". Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
	As of December 31, 2014, the Company has a net operating loss carryforward of approximately $950,000 for Federal income tax purposes after taking into account the effect of a change in control in 2005.  The amount and availability of any future net operating loss carryforwards may be subject to limitations set forth by the Internal Revenue Code. Factors such as the number of shares ultimately issued within a three year look-back period; whether there is a deemed greater than 50 percent change in control; the applicable long-term tax exempt bond rate; continuity of historical business; and subsequent income of the Company all enter into the annual computation of allowable annual utilization of the carryforwards.
	The Company has not commenced operations, has not generated any revenue, and has not made a provision for income taxes.
	The Company does not have any material uncertainties with respect to its provisions for income taxes.

Legal_Matters

Legal Matters	12 Months Ended
	Dec. 31, 2014
Legal Matters
Legal Matters	NOTE 5 – Legal Matters
	The Company has no known legal issues pending.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Related Party Transactions
Related Party Transactions	NOTE 6 – Related Party Transactions
	The prior controlling stockholder and sole officer, Mr. Little, purchased the note of $740,000 in outstanding debt against the Company and purchased certain common stock of the Company owned by a former shareholder for total cash consideration of $60,000 on January 18, 2005. This note was unsecured and bore interest at 6% on unmatured unpaid principal and 10% on matured unpaid principal.  The note was payable on demand, or if no demand was made, the entire principal amount and all accrued interest was due and payable on July 31, 2006.   The note matured on July 31, 2006 and no demand for payment was made by Mr. Little. The note agreement was modified to extend the credit limit to $75,000 and the maturity date was extended to December 31, 2008.  At August 8, 2014 and December 31, 2013, an aggregate $154,550 and $145,550 was advanced under this agreement by Mr. Little.
	On August 8, 2014, Mr. Little entered into a Securities and Debt Purchase Agreement with Rockport Petroleum, Inc. (“Rockport”).  Under the terms of the Purchase Agreement, Mr. Little agreed to sell to Rockport an aggregate of 291,500 shares of Common Stock, representing approximately 80.5% of the Company's currently outstanding shares of Common Stock and the note payable of $894,550 for total cash consideration of $250,000.  Rockport, having purchased the outstanding note, has made no demand for payment as of December 31, 2014.  It may elect to renegotiate or extend the maturity date of this note at some future date.
	Rockport has also acknowledged that outside funds continue to be necessary to support the corporate entity and comply with the periodic reporting requirements of the Securities Exchange Act of 1934, as amended.  Accordingly, Rockport has agreed to lend the Company up to $50,000 with a maturity period not to exceed two (2) years from the initial funding date at an interest rate of 6.0% per annum.  As of December 31, 2014, Rockport has advanced $14,758 under this agreement. There is no legal obligation for either management or significant stockholders to provide additional future funding.
	The following table is a summary of the notes payable to the Company’s controlling shareholder as of December 31, 2014 and 2013:
		31-Dec-14		31-Dec-13
	Note payable – held by Mr. Glenn Little	$	-	$	885,550
	Note payable held by Rockport Petroleum, Inc., with an interest rate of 10% per annum	$	894,550	$	-
	Note payable held by Rockport Petroleum, Inc., with an interest rate of 6% per annum	$	14,758	$	-
	Total	$	909,308	$	885,550

Accrued_Interest_Payable_to_Re

Accrued Interest Payable to Related Party	12 Months Ended
	Dec. 31, 2014
Accrued Interest Payable to Related Party
Accrued Interest Payable to Related Party	NOTE 7 – Accrued Interest Payable to Related Party
	The following table is a summary of the accrued interest payable to controlling stockholder as of December 31, 2014 and 2013, respectively:
		31-Dec-14		31-Dec-13
	Interest payable to Rockport Petroleum, Inc., controlling stockholder – 10% interest rate p.a.	$	644,082	$	-
	Interest payable to Rockport Petroleum, Inc., controlling stockholder – 6% interest rate p.a.	$	155	$	-
	Total	$	644,237	$	-
	During the year ended December 31, 2014, Rockport Petroleum Inc., advanced $14,758 to the Company and the Company accrued interest at the rate of 6% per annum.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events
Subsequent Events	NOTE 8 – Subsequent Events
	The Company has evaluated events subsequent through the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that no subsequent events occurred that require recognition or disclosure in the financial statements.

Accounting_Policies_Policies

Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies
Use of Estimates and Assumptions	Use of Estimates and Assumptions
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.
	Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments.  ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements.  Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2014 and 2013.
	The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values.  These financial instruments include cash, accrued liabilities and notes payable.  Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value.
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share
	The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period.  Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

Note_Payable_To_Controlling_Sh

Note Payable To Controlling Shareholder (Tables)	12 Months Ended
	Dec. 31, 2014
Note Payable To Controlling Shareholder
Note Payable To Controlling Shareholder	The following table is a summary of the notes payable to the Company’s controlling shareholder as of December 31, 2014 and 2013:
		31-Dec-14		31-Dec-13
	Note payable – held by Mr. Glenn Little	$	-	$	885,550
	Note payable held by Rockport Petroleum, Inc., with an interest rate of 10% per annum	$	894,550	$	-
	Note payable held by Rockport Petroleum, Inc., with an interest rate of 6% per annum	$	14,758	$	-
	Total	$	909,308	$	885,550

DUE_TO_RELATED_PARTY_Tables

DUE TO RELATED PARTY (Tables)	12 Months Ended
	Dec. 31, 2014
SCHEDULE OF DUE TO RELATED PARTY
SCHEDULE OF DUE TO RELATED PARTY	The following table is a summary of the accrued interest payable to controlling stockholder as of December 31, 2014 and 2013, respectively:
		31-Dec-14		31-Dec-13
	Interest payable to Rockport Petroleum, Inc., controlling stockholder – 10% interest rate p.a.	$	644,082	$	-
	Interest payable to Rockport Petroleum, Inc., controlling stockholder – 6% interest rate p.a.	$	155	$	-
	Total	$	644,237	$	-

Organization_and_Description_o1

Organization and Description of Business (Details) (USD $)	Dec. 31, 2014	Aug. 08, 2014	Sep. 26, 2007
ORGANIZATION AND DESCRIPTION:
Issued Common Stock Shares			100,000,000
Common Stock Shares Par Value			$0.00
Issued Preferred Stock Shares			50,000,000
Preferred Stock Shares Par Value			$0.00
Common stock shares sold		291,500
Loans payable	$250,000

Income_TaxesDetails

Income Taxes(Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Income Taxes Details:
Net operating loss (Approximately)	$950,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	Aug. 08, 2014	Dec. 31, 2013	Jan. 18, 2005
Related Party Transactions Details:
Note Purchased by Mr.Little against outstanding		$740,000
Common stock shares purchased by cash			60,000
Advance by Mr.Little	154,550	145,550
Note payable purchased by Rockport	894,550
Loan received from Rockport		$50,000

NOTE_PAYABLE_TO_STOCKHOLDER_De

NOTE PAYABLE TO STOCKHOLDER (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Notes Payable to Stockholder Consists of The Following
Notes payable to related party	$909,308	$885,550

SUMMARY_OF_NOTES_PAYABLE_TO_CO

SUMMARY OF NOTES PAYABLE TO CONTROLLING STOCK HOLDER (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
SUMMARY OF NOTES PAYABLE TO CONTROLLING STOCK HOLDER
Note payable - held by Mr. Glenn Little		$885,550
Note payable held by Rockport Petroleum, Inc.with interest of 10%	894,550
Note payable held by Rockport Petroleum, Inc.with interest of 6%	14,758
Total notes payable	$894,550	$885,550

Summary_of_the_accrued_interes

Summary of the accrued interest payable (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Summary of the accrued interest payable Detail:
Interest payable to Rockport Petroleum, Inc., controlling stockholder - 10% interest rate p.a.	$644,082	$0
Interest payable to Rockport Petroleum, Inc., controlling stockholder - 6% interest rate p.a.	155	0
Total	644,237	0
Advance paid by Rockport Petroleum, Inc.	$14,758	$0
Accrued interest rate	6.00%	0.00%