Trycera Financial 10-Q 28 Feb 14 2012 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2012	Jan. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Trycera Financial, Inc.	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	611,808,446
Amendment Flag	'false	'
Entity Central Index Key	'0001117045	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Mar-12	'
Document Fiscal Year Focus	'2012	'
Document Fiscal Period Focus	'Q1	'

Balance_Sheets

Balance Sheets (USD $)	Mar. 31, 2012	Dec. 31, 2011
Current Assets	'	'
Cash	$270	$179
Prepaid expenses and other current assets	62,500	75,000
Total Current Assets	62,770	75,179
Property & Equipment, net	10,612	11,143
Total Fixed Assets	10,612	11,143
Other Assets	'	'
Deposits	0	6,711
Total Other Assets	0	6,711
Total Assets	73,382	93,033
Current Liabilities	'	'
Bank overdraft	0	136
Accounts payable	622,164	557,165
Accounts payable - related parties	179,565	165,565
Portfolio reserves	34,774	34,774
Accrued expenses	1,048,972	962,069
Unsecured notes, current maturities	59,448	59,448
Senior secured notes, current maturities	77,500	77,500
Convertible notes payable, net of discounts, current maturities	626,137	575,929
Total Current Liabilities	2,648,560	2,432,586
Long-term Liabilities	'	'
Convertible notes payable, net of discounts, less current maturities	49,007	0
Total Long-term Liabilities	49,007	0
Total Liabilities	2,697,567	2,432,586
Commitments	'	'
Stockholders’ Deficit	'	'
Preferred stock, 20,000,000 shares authorized, $.001 par value; none issued and outstanding	0	0
Common stock, 2,000,000,000 shares authorized at $.001 par value; 520,901,446 and 502,901,446 shares issued and outstanding, respectively	520,901	502,901
Additional paid in capital	9,006,791	8,447,791
Prepaid stock compensation	-595,919	-42,585
Accumulated deficit	-11,555,958	-11,247,660
Total Stockholders’ Deficit	-2,624,185	-2,339,553
Total Liabilities & Stockholders’ Deficit	$73,382	$93,033

Balance_Sheets_Parentheticals

Balance Sheets (Parentheticals) (USD $)	Mar. 31, 2012	Dec. 31, 2011
Preferred stock, par value (in Dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized	2,000,000,000	2,000,000,000
Common stock, shares issued	520,901,446	520,901,446
Common stock, shares outstanding	520,901,446	520,901,446

Statement_of_Operations_unaudi

Statement of Operations (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Revenues	'	'
Stored value	$400	$112
	400	112
Cost of Sales	221	1,845
Gross Profit (loss)	179	-1,733
Expenses	'	'
Salaries and wages	67,500	164,142
Stock based compensation	0	129,208
Professional fees	11,000	6,350
General & administrative	159,461	189,175
Total Expenses	237,961	488,875
Loss from Operations	-237,782	-490,608
Other Income (Expense)	'	'
Interest expense	-70,516	-36,092
Total Other Income (Expense)	-70,516	-36,092
Loss before tax	-308,298	-526,700
Income tax	0	0
Net Loss	($308,298)	($526,700)
Basic loss Per Share:	'	'
Loss per share (in Dollars per share)	$0	$0
Net Loss Per Share (in Dollars per share)	$0	$0
Weighted Average Shares (in Shares)	506,101,447	455,494,779

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash Flows from Operating Activities	'	'
Net Loss	($308,298)	($526,700)
Adjustments to reconcile net loss to net cash used by operations;	'	'
Depreciation and amortization	531	531
Amortization of prepaid stock compensation	22,667	29,562
Amortization of discount on note payable	50,214	16,372
Stock issued for services	0	15,000
Stock options and warrants	0	129,208
Changes in operating assets and liabilities;	'	'
(Increase) decrease in prepaid and other current assets	12,500	61,762
(Increase) decrease in deposits/reserves	6,711	0
Increase (decrease) in accounts payable	78,999	-7,232
Increase (decrease) in accrued expenses	86,903	194,317
Net Cash Used by Operating Activities	-49,773	-87,180
Cash Flows from Investing Activities	'	'
Payments for definite life intangible assets	0	-90,688
Net Cash Provided by Investing Activities	0	-90,688
Cash Flows from Financing Activities	'	'
Proceeds from the sale of common stock	0	40,000
Proceeds from issuance 10% Convertible notes	0	150,000
(Increase) decrease in bank overdraft	-136	0
Proceeds from issuance of unsecured notes	50,000	0
Net Cash Provided by Financing Activities	49,864	190,000
Net Increase (Decrease) in Cash and Cash Equivalents	91	12,132
Cash and Cash Equivalents at Beginning of Period	179	15,800
Cash and Cash Equivalents at End of Period	270	27,932
Cash Paid For:	'	'
Interest	0	0
Income Taxes	0	0
Non-Cash Financing Activities:	'	'
Common stock/options issued for services and deferred compensation	1,224,000	122,563
Common stock issued for prepaid assets	0	0
Stock Issued for Accounts Payable and Accrued Expenses [Member]	'	'
Non-Cash Financing Activities:	'	'
Common stock issued for debt, accounts payable and accrued expenses	0	0
Stock Issued for Debt [Member]	'	'
Non-Cash Financing Activities:	'	'
Common stock issued for debt, accounts payable and accrued expenses	$0	$0

NOTE_1_GENERAL

NOTE 1 - GENERAL	3 Months Ended
	Mar. 31, 2012
Accounting Policies [Abstract]	'
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	'
	NOTE 1 – GENERAL
	The accompanying condensed financial statements of the Company have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations.  These condensed financial statements reflect all adjustments (consisting only of normal recurring adjustments) that, in the opinion of management, are necessary to present fairly the results of operations of the Company for the periods presented.  These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Form 10-K for the year ended December 31, 2011.  The results of operations for the three months ended March 31, 2012, are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2012.

NOTE_2_GOING_CONCERN

NOTE 2 - GOING CONCERN	3 Months Ended
	Mar. 31, 2012
Going Concern Disclosure [Abstract]	'
Going Concern Disclosure [Text Block]	'
	NOTE 2 – GOING CONCERN
	The Company has had recurring operating losses since inception and is dependent upon financing to continue operations.  These factors indicate that the Company may be unable to continue in existence should immediate and short term financing options not be available.  These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue its existence.  These financial statements do not include any adjustments that might result from the outcome of this uncertainty.  Currently the Company has minimal cash on hand and few material assets outside key intellectual property.  In addition, the Company has not established nor maintained a recurring source of revenues to sufficiently cover or offset any current, anticipated or planned operating costs to allow it to continue as a going concern.  It is the intent of the Company to find additional capital funding, grow revenues organically through new program launches and marketing campaigns and/or a profitable business venture to acquire or merge.

NOTE_3_SIGNIFICANT_TRANSACTION

NOTE 3 - SIGNIFICANT TRANSACTIONS	3 Months Ended
	Mar. 31, 2012
Significant Transactions Disclosure [Abstract]	'
Significant Transactions Disclosure [Text Block]	'
	NOTE 3 – SIGNIFICANT TRANSACTIONS
	On March 26, 2012, the Board of Directors, approved employment contracts for Hector Alvarez and Amit Patel. Each of these fulltime employment agreements became effective March 26, 2012, and is for a term of three years.  Each is renewable in yearly increments unless terminated prior to expiration of a term.  Under the agreements, Mr. Alvarez is employed as Vice President of Education and Marketing and Mr. Patel is employed as Vice President of Business Development. The base salary for each party is $180,000 per year, payable in the month increments of $15,000.  As a signing bonus for entering into the agreements, each party received 18,000,000 shares and will each be issued 4,000,000 shares per quarter for eight (8) quarters. The employees are also eligible for performance bonuses and to participate in the Company’s stock option plan. Each is also entitled to participate in employee benefit plans, including health and retirement plans created hereafter.
	On March 9, 2012, the Company entered into a 10% Convertible Note agreement with an accredited investor in the amount of $500,000.  The terms of this note are for twenty four (24) months and generate simple interest at the rate of ten percent (10%) per annum.  Funds are to be received in five separate installments of $100,000 each and all funds are expected to be received by Company on or before May 12, 2012.
	On March 9, 2012, the Company entered into a twelve (12) month lease agreement with ServCorp to rent office space at a rate of $1,461 per month.  The term of this lease agreement ends on April 1, 2013.
	On March 6, 2012, the Company launched a Joint Venture with Education for Homes, LLC to cross-market each other’s products and services.  These services include the Company’s credit building and budgeting tools along with Education for Homes’ educational series entitled ‘The Financial Guide to Freedom”.
	On February 29, 2012, the Company was given final notice to vacate current office space located at 18200 Von Karman Ave, Suite 850, Irvine, CA 92612 and pay remaining balance of $26,133 by March 20, 2012.
	On January 31, 2012, the Company received a Notice of Claim and Conference from the Labor Commissioner, State of California Case Number 18-84792 BB.  The case was brought by Michael G. Nathans, the former President of Credit Services.  Mr. Nathans stated he resigned from the Company effective November 21, 2011 as a result of the Company’s failure to maintain proper insurance and alleged the Company was in breach of his employment agreement with the Company dated September 17, 2010. Pursuant to the Claim, Mr. Nathans is seeking $152,054 in back wages.  The Company intends to vigorously defend this Claim.
	On January 10, 2012, the Company received a Notice of Claim and Conference from the Labor Commissioner, State of California Case Number 18-84756 BB.  The case was brought by Kevin Goldstein, the former Chief Technology Officer.  Mr. Goldstein stated he resigned from the Company effective November 21, 2011 as a result of the Company’s failure to maintain proper insurance and alleged the Company was in breach of his employment agreement dated October 25, 2010. Pursuant to the Claim, Mr. Goldstein is seeking $90,036 in back wages.  The Company intends to vigorously defend this Claim.

NOTE_4_SUBSEQUENT_EVENTS

NOTE 4 - SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2012
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	NOTE 4 – SUBSEQUENT EVENTS
	Pursuant to FASB ASC 855-10-50-1, the Company has evaluated subsequent events through the date these financial statements to be issued.
	Complete Stock Issuance subsequent to March 31, 2012.  The Company issued a total of 90,907,000 shares between April 1, 2012 and January 31, 2014.  The total shares issued per employment agreements totaled 75,435,000, the total shares issued for consulting services totaled 12,500,000 and the total shares issued for investment purposes totaled 2,972,000.
	On June 30, 2012, Amit Patel resigned as Vice President of Business Development due to inability to fulfill requirements set forth in employment agreement.  Mr. Patel forgave all accrued wages and complete stock compensation package.  There was no disagreement on any matters relating to the Company’s operations, policies or practices.
	On May 24, 2012, the Company entered into a two year consulting agreement with w3Design Team, LLC for the purpose of providing the Company design, illustration, A/V production, writing and editing, web hosting and IT services. Consultant is to be paid $5,000 per month and has been granted ten (10) million shares of restricted common stock.
	On May 23, 2012, the Company entered into a three year, results oriented referral agreement with Residence for Patriots Foundation, a nonprofit organization specializing in assisting military personnel obtain housing.
	On May 23, 2012, the Company entered into a one year, results oriented referral agreement with Miles Consulting Firm for the purpose of assisting the Company market its products to various nonprofit organizations specializing in assisting underprivileged, unemployed, and citizens on assisted living support gain financial education to transition to being self-sufficient.
	On May 21, 2012, the Company entered into a one year consulting agreement with Selvin Alvarez for the purpose of marketing the Company’s products and services to various mortgage and auto related companies.  Mr. Alvarez is to be paid $1,200 per month and has been granted two (2) million shares of restricted common stock.
	On May 18, 2012, the Company issued 360,000 shares of restricted common stock for a cash investment of $18,000.  The shares were issued  in reliance upon the exemptions from the registration requirements of Section 5 of the Securities Act of 1933, as amended (the “Act”), pursuant to Section 4(2) of the Act.  The certificates evidencing the above mentioned shares contain a legend (1) stating that the shares have not been registered under the Act and (2) setting forth or referring to the restrictions on transferability and sale of the shares under the Act.
	On April 24, 2012, the Company entered into a one year, results oriented referral agreement with Dimensional Builders Corp, for the purpose of assisting the Company market its products to various mortgage related clients.
	On April 23, 2012, the Company entered into a one year consulting agreement with Open Door Media, LLC for the purpose of providing public affairs and communication services to Company.  The Consultant will be paid at a billable hourly rate and will get written approval from Company prior to work being done.
	On April 16, 2012, the Company entered into a one year, results oriented referral agreement with Selvin Alvarez, for the purpose of assisting the Company market its products to various mortgage related clients.  Mr. Alvarez is a brother to Hector Alvarez, the Company’s Vice President of Marketing/Education.
	On April 12, 2012, the Company entered into a one year, results oriented referral agreement with Capital Impact Group, a firm based in Trenton, NJ, for the purpose of assisting the Company market its products to various nonprofit organizations and unions throughout the state of New Jersey.
	On April 6, 2012, the Company entered into a one year, results oriented referral agreement with Ark of Eden, LLC for the purpose of assisting the Company market its products to various Caribbean communities.