Omphalos (OMPS) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 06, 2016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Trading Symbol	omps
Entity Registrant Name	OMPHALOS, CORP
Entity Central Index Key	1,103,640
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		30,063,759
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 28,447	$ 74,982
Accounts receivable, net	102,397	777
Inventory, net	52,245	106,963
Prepaid and other current assets	26,520	43,008
Total current assets	209,609	225,730
Leasehold Improvements and Equipment, net	5,317	7,194
Intangible assets, net	19,969	21,329
Deposits	3,927	3,379
Total Assets	238,822	257,632
Current Liabilities
Accounts payable	17,386	42,629
Accrued salaries and bonus	24,543	24,292
Accrued expenses	19,570	12,451
Income tax payable	11,515	0
Advance from customers	0	58,311
Due to related parties	262,678	355,025
Total current liabilities	335,692	492,708
Long-term Liabilities
Loan from shareholders	959,388	609,944
Total liabilities	1,295,080	1,102,652
Stockholders' Deficit
Common stock, $0.0001 par value, 120,000,000 shares authorized, 30,063,759 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	3,007	3,007
Additional paid-in capital	47,523	47,523
Other comprehensive income	540,184	587,062
Accumulated deficit	(1,646,972)	(1,482,612)
Total Stockholders' deficit	(1,056,258)	(845,020)
Total Liabilities and Stockholders' Deficit	$ 238,822	$ 257,632

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Common Stock, Par Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	120,000,000	120,000,000
Common Stock, Shares, Issued	30,063,759	30,063,759
Common Stock, Shares, Outstanding	30,063,759	30,063,759

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ANDOTHER COMPREHENSIVE INCOME (LOSS) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Sales, net	$ 107,486	$ 4,548	$ 719,763	$ 10,334
Cost of sales	62,095	1,487	375,637	3,750
Gross profit	45,391	3,061	344,126	6,584
Selling, general and administrative expenses	138,140	144,138	483,318	462,856
Loss from operations	(92,749)	(141,077)	(139,192)	(456,272)
Other income (expenses)
Interest income	0	0	46	271
Interest expense	(7,049)	(4,726)	(16,219)	(9,821)
Gain (loss) on foreign currency exchange	(563)	(107)	2,131	2,216
Total other income (expenses)	(7,612)	(4,833)	(14,042)	(7,334)
Loss before provision for income taxes	(100,361)	(145,910)	(153,234)	(463,606)
Provision for income taxes	(9,929)	0	11,126	0
Net loss	$ (90,432)	$ (145,910)	$ (164,360)	$ (463,606)
Weighted average number of common shares:
Basic and diluted	30,063,759	30,063,759	30,063,759	30,063,759
Net loss per share:
Basic and diluted	$ 0	$ 0	$ (0.01)	$ (0.02)
Other Comprehensive (Loss) Income:
Net loss	$ (90,432)	$ (145,910)	$ (164,360)	$ (463,606)
Foreign currency translation adjustment, net of tax	(30,782)	42,866	(46,878)	33,241
Comprehensive (Loss) Income	$ (121,214)	$ (103,044)	$ (211,238)	$ (430,365)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net loss	$ (164,360)	$ (463,606)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and depreciation	5,790	5,913
Allowance for inventory value decline	(67,701)	(5,754)
Foreign currency exchange (gain) loss	(2,131)	(2,216)
Changes in assets and liabilities:
Decrease (Increase) in accounts receivable	(98,133)	98,211
Decrease (Increase) in inventory	125,584	(72,870)
Decrease (Increase) in prepaid and other assets	17,576	5,948
Increase (Decrease) in accounts payable	(26,388)	11,362
Increase (Decrease) in accrued expenses	5,394	(16,691)
Increase (Decrease) in income tax payable	11,125	0
Increase (Decrease) in advance from customers	(59,069)	0
Increase (Decrease) in due to related parties	(105,882)	176,906
Net cash used in operating activities	(358,195)	(262,797)
Cash flows from investing activities
Purchase of fixed assets	(1,324)	0
Net cash used in investing activities	(1,324)	0
Cash flows from financing activities
Repayment of short-term bank loans	0	(127,151)
Proceeds loaned from related parties	308,938	317,877
Net cash provided by financing activities	308,938	190,726
Effect of exchange rate changes on cash and cash equivalents	4,046	968
Net Increase (Decrease) in cash and cash equivalents	(46,535)	(71,103)
Cash and cash equivalents
Beginning	74,982	107,028
Ending	28,447	35,925
Cash paid during the year for:
Interest expense	15,447	9,821
Income tax	$ 0	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2016
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Organization Effective April 18, 2008 Soyodo entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Omphalos, Corp., a Nevada corporation. Pursuant to the Merger Agreement, Soyodo was merged with and into the surviving corporation, Omphalos Corp. The certificate of incorporation and bylaws of the surviving corporation became the certificate of incorporation and bylaws of the Company, and the directors and officers of Soyodo became the members of the board of directors and officers of the Company. Following the execution of the Merger Agreement, the Company filed with the Secretary of State of Delaware and Nevada, a Certificate of Merger. Omphalos, Corp is incorporated on April 15, 2008 under the laws of the state of Nevada. The main purpose of the merger is to change the company’s name to Omphalos, Corp. Basis of Consolidation Going Concern There can be no assurances that there will be adequate financing available to the Company and the consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. The Company has taken certain restructuring steps to provide the necessary capital to continue its operations. These steps included: (1) Tightly budgeting and controlling all expenses; (2) Expanding product lines and recruiting a strong sales team to significantly increase sales revenue and profit in 2016; (3) The Company plans to continue actively seeing additional funding opportunities to improve and expand upon its product lines. Use of Estimates Cash and Cash Equivalents Accounts Receivable Inventory Property and Equipment Automobile 5 years Furniture and fixtures 3 years Machinery and equipment 3 to 5 years Leasehold improvements 55 years Expenditures for major renewals and betterment that extend the useful lives of property and equipment are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the asset and accumulated depreciation are removed from the accounts and the resulting profit or loss is reflected in the statement of income for the period. The accumulated depreciation was $111,096 and $102,516 at September 30, 2016 and December 31, 2015, respectively. Depreciation expense was $3,475 and $3,531 for the nine months ended September 30, 2016 and 2015, respectively. Depreciation expense was $1,213 and $1,156 for the three months ended September 30, 2016 and 2015, respectively. Intangible Assets Revenue Recognition Leases If at its inception a lease meets any of the four lease criteria above, the lease is classified by the lessee as a capital lease; and if none of the four criteria are met, the lease is classified by the lessee as an operating lease. Research and Development Expenses Statement of cash flows Income Taxes Stock Based Compensation Compensation-Stock Compensation Loss Per Share Impairment of Long-Lived Assets Foreign-currency Transactions Translation Adjustment In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollar ($) using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from NTD into U.S. dollar are recorded in stockholders’ deficit as part of accumulated other comprehensive income. Reclassifications Recently Issued Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. The original effective date for ASU 2014-09 would have required the Company to adopt beginning in its first quarter of 2018. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) – Deferral of the Effective Date, which defers the effective date of ASU 2014-09 for one year and permits early adoption as early as the original effective date of ASU 2014-09. Accordingly, the Company may adopt the standard in either its first quarter of 2018 or 2019.In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (“ASU 2016-08”), which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing (“ASU 2016-10”), which amends the guidance in ASU 2014-09 related to identifying performance obligations and accounting for licenses of intellectual property. The Company must adopt ASU 2016-08 and ASU 2016-10 with ASU 2014-09.The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the timing of its adoption and the impact of adopting the new revenue standard on its consolidated financial statements.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2016
RELATED-PARTY TRANSACTIONS [Text Block]	2. RELATED-PARTY TRANSACTIONS Operating Leases The Company leases its facility from a shareholder under an operating lease agreement which expires on January 31, 2019. The monthly base rent is approximately $1,800. Rent expense under this lease agreement amounted to approximately $15,570 and $16,021 for the nine months ended September 30, 2016 and 2015, respectively, and approximately $5,300 and $5,241 for the three months ended September 30, 2016 and 2015, respectively. Loan from related party On July 26, 2013, the Company entered a loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$5,000,000, equivalent approximately $159,899 for working capital purpose. The term of the loan started from July 30, 2013 with maturity date on July 29, 2015. On July 31, 2015, the loan with the same amount of NT$5,000,000, equivalent approximately $155,184, and the same fixed interest rate of 3% per annum was extended for another two years starting from August 1, 2015 with maturity date on July 31, 2017. On December 31, 2013, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its officer and shareholder to advance NT$5,000,000, equivalent approximately $159,899 for working capital purpose. The term of the loan started from January 1, 2014 with maturity date on December 31, 2015. On December 31, 2015, the loan with the same amount of NT$5,000,000, equivalent approximately $155,184, and the same fixed interest rate of 3% per annum was extended for another two years starting from January 1, 2016 with maturity date on December 31, 2018. On July 5, 2015, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$10,000,000, equivalent approximately $319,795, for working capital purpose. The term of the loan started from July 1, 2015 with maturity date on June 30, 2018. On July 1, 2016, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$10,000,000, equivalent approximately $319,795, for working capital purpose. The term of the loan started from July 1, 2016 with maturity date on June 30, 2019. As of September 30, 2016 and December 31, 2015, there were $959,388 and $609,944 advances outstanding. Interest expense was $16,219 and $9,536 for the nine months ended September 30, 2016 and 2015, respectively. Interest expense was $7,049 and $4,725 for the three months ended September 30, 2016 and 2015, respectively. Advances from related party -

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2016
INCOME TAXES [Text Block]	3. INCOME TAXES The Company is incorporated in the State of Nevada in the United States of America and is subject to the U.S. federal and state taxation. Income before income taxes for the nine months ended September 30, 2016 and 2015 includes the results of operations of Taiwan and British Virgin Islands. Omphalos Corp. (B.V.I.) and All Fine Technology Co., Ltd. (B.V.I.) are incorporated in British Virgin Islands and are not required to pay income tax. Omphalos Corp. and All Fine Technology Co., Ltd. are incorporated in Taiwan and are subject to Taiwan tax law. The statutory tax rate under Taiwan tax law is 17%. Omphalos Corp. had net income of $65,438 for the nine months ended September 30, 2016, but incurred losses for the nine months ended September 30, 2015. All Fine Technology Co., Ltd. incurred losses for the nine months ended September 30, 2016 and 2015. As a result, tax liability was incurred as of September 30, 2016. The provision for income taxes calculated at the statutory rates in the combined statements of income is as follows: Nine Months Ended Nine Months Ended September 30, 2016 September 30, 2015 Current provision: Computed (provision for) income taxes at $ - $ - Computed (provision for) income taxes at - - Computed (provision for) income taxes at 11,126 - Total current provision 11,126 - Deferred provision: U.S - - BVI - - Taiwan- Net operating loss carryforward - - Valuation allowance - - Total deferred provision - - Provision for income taxes $ 11,126 $ - The following is a reconciliation of the statutory tax rate to the effective tax rate for the nine months ended September 30, 2016 and 2015: Nine Months ended Nine Months ended September 30, 2016 September 30, 2015 U.S. Federal tax at statutory rate 34% 34% Valuation allowance ( 34% ) ( 34% ) Foreign income tax- Taiwan 17% 17% Other (a) 0% ( 17% ) Effective tax rate 17% 0% (a) Other represents expenses incurred by the Company that are not deductible for Taiwan income taxes and changes in valuation allowance for Taiwanese entities for the nine months ended September 30, 2016 and 2015, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2016
SUBSEQUENT EVENTS [Text Block]	4. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of September 30, 2016 have been incorporated into these consolidated financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Basis of Presentation [Policy Text Block]	Basis of Presentation
Organization [Policy Text Block]	Organization Effective April 18, 2008 Soyodo entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Omphalos, Corp., a Nevada corporation. Pursuant to the Merger Agreement, Soyodo was merged with and into the surviving corporation, Omphalos Corp. The certificate of incorporation and bylaws of the surviving corporation became the certificate of incorporation and bylaws of the Company, and the directors and officers of Soyodo became the members of the board of directors and officers of the Company. Following the execution of the Merger Agreement, the Company filed with the Secretary of State of Delaware and Nevada, a Certificate of Merger. Omphalos, Corp is incorporated on April 15, 2008 under the laws of the state of Nevada. The main purpose of the merger is to change the company’s name to Omphalos, Corp.
Basis of Consolidation [Policy Text Block]	Basis of Consolidation
Going Concern [Policy Text Block]	Going Concern There can be no assurances that there will be adequate financing available to the Company and the consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. The Company has taken certain restructuring steps to provide the necessary capital to continue its operations. These steps included: (1) Tightly budgeting and controlling all expenses; (2) Expanding product lines and recruiting a strong sales team to significantly increase sales revenue and profit in 2016; (3) The Company plans to continue actively seeing additional funding opportunities to improve and expand upon its product lines.
Use of Estimates [Policy Text Block]	Use of Estimates
Cash and Cash Equivalents [Policy Text Block]	Cash and Cash Equivalents
Accounts Receivable [Policy Text Block]	Accounts Receivable
Inventory [Policy Text Block]	Inventory
Property and Equipment [Policy Text Block]	Property and Equipment Automobile 5 years Furniture and fixtures 3 years Machinery and equipment 3 to 5 years Leasehold improvements 55 years Expenditures for major renewals and betterment that extend the useful lives of property and equipment are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the asset and accumulated depreciation are removed from the accounts and the resulting profit or loss is reflected in the statement of income for the period. The accumulated depreciation was $111,096 and $102,516 at September 30, 2016 and December 31, 2015, respectively. Depreciation expense was $3,475 and $3,531 for the nine months ended September 30, 2016 and 2015, respectively. Depreciation expense was $1,213 and $1,156 for the three months ended September 30, 2016 and 2015, respectively.
Intangible Assets [Policy Text Block]	Intangible Assets
Revenue Recognition [Policy Text Block]	Revenue Recognition
Leases [Policy Text Block]	Leases If at its inception a lease meets any of the four lease criteria above, the lease is classified by the lessee as a capital lease; and if none of the four criteria are met, the lease is classified by the lessee as an operating lease.
Research and Development Expenses [Policy Text Block]	Research and Development Expenses
Statement of cash flows [Policy Text Block]	Statement of cash flows
Income Taxes [Policy Text Block]	Income Taxes
Stock Based Compensation [Policy Text Block]	Stock Based Compensation Compensation-Stock Compensation
Loss Per Share [Policy Text Block]	Loss Per Share
Impairment of Long-Lived Assets [Policy Text Block]	Impairment of Long-Lived Assets
Foreign-currency Transactions [Policy Text Block]	Foreign-currency Transactions
Translation Adjustment [Policy Text Block]	Translation Adjustment In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollar ($) using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from NTD into U.S. dollar are recorded in stockholders’ deficit as part of accumulated other comprehensive income.
Reclassifications [Policy Text Block]	Reclassifications
Recently Issued Accounting Pronouncements [Policy Text Block]	Recently Issued Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. The original effective date for ASU 2014-09 would have required the Company to adopt beginning in its first quarter of 2018. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) – Deferral of the Effective Date, which defers the effective date of ASU 2014-09 for one year and permits early adoption as early as the original effective date of ASU 2014-09. Accordingly, the Company may adopt the standard in either its first quarter of 2018 or 2019.In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (“ASU 2016-08”), which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing (“ASU 2016-10”), which amends the guidance in ASU 2014-09 related to identifying performance obligations and accounting for licenses of intellectual property. The Company must adopt ASU 2016-08 and ASU 2016-10 with ASU 2014-09.The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the timing of its adoption and the impact of adopting the new revenue standard on its consolidated financial statements.

ORGANIZATION AND SUMMARY OF S11

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2016
Depreciation Computed on Straight-Line Method Over Estimated Useful Life [Table Text Block]	Automobile 5 years Furniture and fixtures 3 years Machinery and equipment 3 to 5 years Leasehold improvements 55 years

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2016
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Nine Months Ended Nine Months Ended September 30, 2016 September 30, 2015 Current provision: Computed (provision for) income taxes at $ - $ - Computed (provision for) income taxes at - - Computed (provision for) income taxes at 11,126 - Total current provision 11,126 - Deferred provision: U.S - - BVI - - Taiwan- Net operating loss carryforward - - Valuation allowance - - Total deferred provision - - Provision for income taxes $ 11,126 $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Nine Months ended Nine Months ended September 30, 2016 September 30, 2015 U.S. Federal tax at statutory rate 34% 34% Valuation allowance ( 34% ) ( 34% ) Foreign income tax- Taiwan 17% 17% Other (a) 0% ( 17% ) Effective tax rate 17% 0%

ORGANIZATION AND SUMMARY OF S13

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Organization And Summary Of Significant Accounting Policies 1	100.00%
Organization And Summary Of Significant Accounting Policies 2	$ 1,646,972
Organization And Summary Of Significant Accounting Policies 3	1,482,612
Organization And Summary Of Significant Accounting Policies 4	439,299
Organization And Summary Of Significant Accounting Policies 5	485,767
Organization And Summary Of Significant Accounting Policies 6	111,096
Organization And Summary Of Significant Accounting Policies 7	102,516
Organization And Summary Of Significant Accounting Policies 8	3,475
Organization And Summary Of Significant Accounting Policies 9	3,531
Organization And Summary Of Significant Accounting Policies 10	1,213
Organization And Summary Of Significant Accounting Policies 11	1,156
Organization And Summary Of Significant Accounting Policies 12	33,706
Organization And Summary Of Significant Accounting Policies 13	29,858
Organization And Summary Of Significant Accounting Policies 14	2,315
Organization And Summary Of Significant Accounting Policies 15	2,382
Organization And Summary Of Significant Accounting Policies 16	788
Organization And Summary Of Significant Accounting Policies 17	$ 780
Organization And Summary Of Significant Accounting Policies 18	75.00%
Organization And Summary Of Significant Accounting Policies 19	90.00%

RELATED-PARTY TRANSACTIONS (Nar

RELATED-PARTY TRANSACTIONS (Narrative) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Related-party Transactions 1	$ 1,800
Related-party Transactions 2	15,570
Related-party Transactions 3	16,021
Related-party Transactions 4	5,300
Related-party Transactions 5	$ 5,241
Related-party Transactions 6	3.00%
Related-party Transactions 7	$ 5,000,000
Related-party Transactions 8	159,899
Related-party Transactions 9	5,000,000
Related-party Transactions 10	$ 155,184
Related-party Transactions 11	3.00%
Related-party Transactions 12	3.00%
Related-party Transactions 13	$ 5,000,000
Related-party Transactions 14	159,899
Related-party Transactions 15	5,000,000
Related-party Transactions 16	$ 155,184
Related-party Transactions 17	3.00%
Related-party Transactions 18	3.00%
Related-party Transactions 19	$ 10,000,000
Related-party Transactions 20	$ 319,795
Related-party Transactions 21	3.00%
Related-party Transactions 22	$ 10,000,000
Related-party Transactions 23	319,795
Related-party Transactions 24	959,388
Related-party Transactions 25	609,944
Related-party Transactions 26	16,219
Related-party Transactions 27	9,536
Related-party Transactions 28	7,049
Related-party Transactions 29	4,725
Related-party Transactions 30	262,678
Related-party Transactions 31	$ 355,025

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Income Taxes 1	17.00%
Income Taxes 2	$ 65,438

Depreciation Computed on Straig

Depreciation Computed on Straight-Line Method Over Estimated Useful Life (Details)	9 Months Ended
	Sep. 30, 2016USD ($)yr
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 1	5
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 2	3
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 3 | $	$ 3
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 4	5
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 5	55

Schedule of Components of Incom

Schedule of Components of Income Tax Expense (Benefit) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 1	$ 0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 2	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 3	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 4	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 5	11,126
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 6	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 7	11,126
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 8	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 9	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 10	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 11	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 12	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 13	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 14	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 15	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 16	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 17	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 18	0
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 19	11,126
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 20	$ 0

Schedule of Effective Income Ta

Schedule of Effective Income Tax Rate Reconciliation (Details)	9 Months Ended
	Sep. 30, 2016
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 1	34.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 2	34.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 3	34.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 4	34.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 5	17.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 6	17.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 7	0.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 8	17.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 9	17.00%
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 10	0.00%