Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 31, 2014 | Jun. 30, 2013 | |
Document and Entity Information | ' | ' | ' |
Entity Registrant Name | 'HAN LOGISTICS INC | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0001132509 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 10,368,500 | ' |
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 | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Public Float | ' | ' | $369 |
HAN_LOGISTICS_INC_A_DEVELOPMEN
HAN LOGISTICS, INC. [A DEVELOPMENT STAGE COMPANY] BALANCE SHEETS December 31, 2013 and 2012 (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
CURRENT ASSETS: | ' | ' |
Cash | $117 | $137 |
Total Current Assets | 117 | 137 |
TOTAL ASSETS | 117 | 137 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable | 208,645 | 191,724 |
Accounts payable-Related party | 8,250 | 8,250 |
Accrued interest | 8,713 | 6,643 |
Accrued interest - Related parties | 74,517 | 61,790 |
Notes payable | 23,000 | 23,000 |
Notes payable - Related parties | 128,104 | 110,154 |
Total Current Liabilities | 451,229 | 401,561 |
STOCKHOLDERS' DEFICIT: | ' | ' |
Preferred stock, Class A Preferred Stock; $0.001 par value 175,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value; 500,000,000 shares authorized; 10,368,500 shares issued and outstanding | 10,369 | 10,369 |
Additional paid-in capital | 110,533 | 110,533 |
Deficit accumulated during the development stage | -572,014 | -522,326 |
Total Stockholders' Deficit | -451,112 | -401,424 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $117 | $137 |
Han_Logistics_Inc_Balance_Shee
Han Logistics, Inc. Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Financial Position | ' | ' |
Preferred stock authorized | 175,000,000 | 175,000,000 |
Preferred stock par value | $0.00 | $0.00 |
Preferred stock outstanding | 0 | 0 |
Preferred stock issued | 0 | 0 |
Common stock authorized | 500,000,000 | 500,000,000 |
Common stock par value | $0.00 | $0.00 |
Common stock outstanding | 10,368,500 | 10,368,500 |
Common stock issued | 10,368,500 | 10,368,500 |
HAN_LOGISTICS_INC_A_DEVELOPMEN1
HAN LOGISTICS, INC. [A DEVELOPMENT STAGE COMPANY] STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 AND FOR THE PERIOD FROM INCEPTION (JULY 1, 1999) TO DECEMBER 31, 2013 (USD $) | 12 Months Ended | 174 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Income Statement | ' | ' | ' |
Revenues | $0 | $0 | $10,081 |
Revenues - Related Party | 0 | 0 | 1,926 |
Gross Revenues | 0 | 0 | 12,007 |
Operating Expenses | ' | ' | ' |
Depreciation | 0 | 0 | 1,761 |
General and administrative expenses | 34,890 | 33,385 | 457,738 |
Total Operating Expenses | 34,890 | 33,385 | 459,499 |
Loss from Operations | -34,890 | -33,385 | -447,492 |
Other Income (Expense) | ' | ' | ' |
Interest income | 0 | 0 | 35 |
Interest (expense) | -2,070 | -2,070 | -8,713 |
Interest (expense) - Related Parties | -12,728 | -11,356 | -115,844 |
Total Other Income/(Expense) | -14,798 | -13,426 | -124,522 |
Loss before Income Taxes | -49,688 | -46,811 | -572,014 |
Provision for Income Taxes | 0 | 0 | 0 |
Net Loss | ($49,688) | ($46,811) | ($572,014) |
Net Loss per Share Basic and Diluted | ($0.01) | ($0.01) | ($0.06) |
Weighted Average Shares Outstanding Basic and Diluted | 10,368,500 | 10,368,500 | 10,199,051 |
HAN_LOGISTICS_INC_A_DEVELOPMEN2
HAN LOGISTICS, INC. [A DEVELOPMENT STAGE COMPANY] STATEMENTS OF STOCKHOLDERS' EQUITY/(DEFICIT) FOR THE PERIOD FROM INCEPTION (JULY 1, 1999) TO DECEMBER 31, 2013 (USD $) | Common Stock | Additional Paid in Capital | Accumulated (Deficit) | Total |
Balance common shares, beginning balance at Jun. 30, 1999 | 0 | 0 | 0 | 0 |
Issued stock for cash at inception, shares | 10,000,000 | 0 | 0 | 10,000,000 |
Issued stock for cash at inception, value | $10,000 | $17,000 | $0 | $27,000 |
Net Loss | 0 | 0 | -2,426 | -2,426 |
Stockholders' Equity, ending balance at Dec. 31, 1999 | 10,000 | 17,000 | -2,426 | 24,574 |
Balance common shares, ending balance at Dec. 31, 1999 | 10,000,000 | 0 | 0 | 10,000,000 |
Net Loss | 0 | 0 | -29,845 | -29,845 |
Stockholders' Equity, ending balance at Dec. 31, 2000 | 10,000 | 17,000 | -32,271 | -5,271 |
Balance common shares, ending balance at Dec. 31, 2000 | 10,000,000 | 0 | 0 | 10,000,000 |
Net Loss | 0 | 0 | -6,107 | -6,107 |
Stockholders' Equity, ending balance at Dec. 31, 2001 | 10,000 | 17,000 | -38,378 | -11,378 |
Balance common shares, ending balance at Dec. 31, 2001 | 10,000,000 | 0 | 0 | 10,000,000 |
Net Loss | 0 | 0 | -2,528 | -2,528 |
Stockholders' Equity, ending balance at Dec. 31, 2002 | 10,000 | 17,000 | -40,906 | -13,906 |
Balance common shares, ending balance at Dec. 31, 2002 | 10,000,000 | 0 | 0 | 10,000,000 |
Net Loss | 0 | 0 | -3,001 | -3,001 |
Stockholders' Equity, ending balance at Dec. 31, 2003 | 10,000 | 17,000 | -43,907 | -16,907 |
Balance common shares, ending balance at Dec. 31, 2003 | 10,000,000 | 0 | 0 | 10,000,000 |
Net Loss | 0 | 0 | -6,438 | -6,438 |
Stockholders' Equity, ending balance at Dec. 31, 2004 | 10,000 | 17,000 | -50,345 | -23,345 |
Balance common shares, ending balance at Dec. 31, 2004 | 10,000,000 | 0 | 0 | 10,000,000 |
Common stock issued for cash, shares | 267,500 | 0 | 0 | 267,500 |
Common stock issued for cash, value | 268 | 53,232 | 0 | 53,500 |
Stock issuance costs | 0 | -20,398 | 0 | -20,398 |
Cost of beneficial conversion feature | 0 | 23,500 | 0 | 23,500 |
Net Loss | 0 | 0 | -53,459 | -53,459 |
Stockholders' Equity, ending balance at Dec. 31, 2005 | 10,268 | 73,334 | -103,804 | -20,202 |
Balance common shares, ending balance at Dec. 31, 2005 | 10,267,500 | 0 | 0 | 10,267,500 |
Common stock issued for cash, shares | 101,000 | 0 | 0 | 101,000 |
Common stock issued for cash, value | 101 | 20,099 | 0 | 20,200 |
Net Loss | 0 | 0 | -85,306 | -85,306 |
Stockholders' Equity, ending balance at Dec. 31, 2006 | 10,369 | 93,433 | -189,110 | -85,308 |
Balance common shares, ending balance at Dec. 31, 2006 | 10,368,500 | 0 | 0 | 10,368,500 |
Cost of beneficial conversion feature | 0 | 17,100 | 0 | 17,100 |
Net Loss | 0 | 0 | -80,774 | -80,774 |
Stockholders' Equity, ending balance at Dec. 31, 2007 | 10,369 | 110,533 | -269,884 | -148,982 |
Balance common shares, ending balance at Dec. 31, 2007 | 10,368,500 | 0 | 0 | 10,368,500 |
Net Loss | 0 | 0 | -41,403 | -41,403 |
Stockholders' Equity, ending balance at Dec. 31, 2008 | 10,369 | 110,533 | -311,287 | -190,385 |
Balance common shares, ending balance at Dec. 31, 2008 | 10,368,500 | 0 | 0 | 10,368,500 |
Net Loss | 0 | 0 | -50,904 | -50,904 |
Stockholders' Equity, ending balance at Dec. 31, 2009 | 10,369 | 110,533 | -362,191 | -241,289 |
Balance common shares, ending balance at Dec. 31, 2009 | 10,368,500 | 0 | 0 | 10,368,500 |
Net Loss | 0 | 0 | -60,722 | -60,722 |
Stockholders' Equity, ending balance at Dec. 31, 2010 | 10,369 | 110,533 | -422,913 | -302,011 |
Balance common shares, ending balance at Dec. 31, 2010 | 10,368,500 | 0 | 0 | 10,368,500 |
Net Loss | 0 | 0 | -52,602 | -52,602 |
Stockholders' Equity, ending balance at Dec. 31, 2011 | 10,369 | 110,533 | -475,515 | -354,613 |
Balance common shares, ending balance at Dec. 31, 2011 | 10,368,500 | 0 | 0 | 10,368,500 |
Net Loss | 0 | 0 | -46,811 | -46,811 |
Stockholders' Equity, ending balance at Dec. 31, 2012 | 10,369 | 110,533 | -522,326 | -401,424 |
Balance common shares, ending balance at Dec. 31, 2012 | 10,368,500 | 0 | 0 | 10,368,500 |
Net Loss | 0 | 0 | -49,688 | -49,688 |
Stockholders' Equity, ending balance at Dec. 31, 2013 | $10,369 | $110,533 | ($572,014) | ($451,112) |
Balance common shares, ending balance at Dec. 31, 2013 | 10,368,500 | 0 | 0 | 10,368,500 |
HAN_LOGISTICS_INC_A_DEVELOPMEN3
HAN LOGISTICS, INC. [A DEVELOPMENT STAGE COMPANY] STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 AND FOR THE PERIOD FROM INCEPTION (JULY 1, 1999) TO DECEMBER 31, 2013 (USD $) | 12 Months Ended | 174 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net Loss | ($49,688) | ($46,811) | ($572,014) |
Depreciation | 0 | 0 | 1,761 |
Amortization of interest on beneficial conversion | 0 | 0 | 40,600 |
Increase in accounts payable | 16,921 | 18,790 | 216,895 |
Increase in accrued expenses | 14,797 | 13,426 | 83,230 |
Net cash provided by operating activities | -17,970 | -14,595 | -229,528 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Purchase of property, plant and equipment | 0 | 0 | -1,761 |
Net cash used in investing activities | 0 | 0 | -1,761 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Increase in notes payable | 0 | 0 | 23,000 |
Increase in notes payable-Related parties | 17,950 | 14,500 | 128,104 |
Net proceeds from issuance of common stock | 0 | 0 | 80,302 |
Net cash provided by financing activities | 17,950 | 14,500 | 231,406 |
Net Increase (decrease) in cash | -20 | -95 | 117 |
CASH AT BEGINNING PERIOD | 137 | 232 | 0 |
CASH AT END OF PERIOD | 117 | 137 | 117 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' | ' |
Cash paid for income taxes | 0 | 0 | 0 |
Cash paid for interest expense | $0 | $0 | $0 |
Organization_Consolidation_and
Organization, Consolidation and Presentation of Financial Statements | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Organization, Consolidation and Presentation of Financial Statements | ' |
NOTE 1 – Organization, History and Business Activity | |
Han Logistics, Inc. (Company) was founded July 1, 1999 and was organized to engage in the business of namely the development, marketing and delivering of logistical analysis, problem solving and other logistics services and general business services. The Company is currently seeking any business opportunities that may exist. The Company was incorporated under the laws of the State of Nevada. | |
The Company is considered to be in the development stage as defined by Statement of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 915, Development Stage. It has yet to commence full-scale operations and it continues to develop its planned principal operations. | |
NOTE 2 - Significant Accounting Policies | |
This summary of significant accounting policies of Han Logistics, Inc. (the “Company”) is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements. | |
Concentration of Risk | |
The Company places its cash with established financial institutions. | |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. | |
Fair Value of Financial Instruments | |
Fair value of financial instruments: The carrying amounts of financial instruments, including cash, accounts payable, and accrued expenses approximated fair value as of December 31, 2013 and 2012 because of the relative short term nature of these instruments. | |
Revenue Recognition | |
The Company recognizes revenue, in accordance with the Securities and Exchange Commission Staff Accounting Bulletin (SAB) number 104, which states that revenue is generally recognized when it is realized and earned. Specifically, the Company recognizes revenue when services are performed and projects are completed and accepted by the customer. | |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America 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 reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. | |
Income Taxes | |
The Company accounts for income taxes under an asset and liability approach. This process involves calculating the temporary and permanent differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The temporary differences result in deferred tax assets and liabilities, which would be recorded on the Company’s balance sheets in accordance with ASC 740, which established financial accounting and reporting standards for the effect of income taxes. The Company must assess the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, the Company must establish a valuation allowance. Changes in the Company’s valuation allowance in a period are recorded through the income tax provision on the statements of operations. | |
The Company records interest and penalties arising from the underpayment of income taxes in the statement of income under general and administrative expenses. As of December 31, 2013 and 2012, the Company had no accrued interest or penalties related to uncertain tax positions. The company also did not have any uncertain tax benefits during these years. The tax years 2013, 2012 and 2011 remain open to examination. | |
Loss per Share | |
The Company is required to provide basic and dilutive earnings (loss) per common share information. | |
The basic net loss per common share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding. | |
Diluted net loss per common share is computed by dividing the net loss applicable to common stockholders, adjusted on an "as if converted" basis, by the weighted average number of common shares outstanding plus potential dilutive securities. | |
For the period ended December 31, 2013, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share. Total potentially dilutive securities as of December 31, 2013 approximate 546,870 shares (see Note 6). | |
Recent Accounting Pronouncements | |
The Company has reviewed all recently issued, but not yet adopted accounting standards in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements. | |
NOTE 3 – Going Concern | |
The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplates continuation of the Company as a going concern. However, the Company has a substantial amount of notes payable and various accounts payable, has not generated any recent operating revenue, has incurred significant operating losses to date, has a negative cash flow from operations and has working capital and stockholders' deficits, which raises substantial doubt about its ability to continue as a going concern. | |
Management intends to raise additional operating funds through equity and/or debt offerings. However, there can be no assurance management will be successful in its endeavors. We are currently seeking potential assets, property, or business to acquire. | |
There are no assurances that Han Logistics, Inc. will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or bank financing are insufficient, 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 Han Logistics, Inc. If adequate working capital is not available Han Logistics, Inc. may be required to curtail its operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Income_Taxes
Income Taxes | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Notes | ' | |||
Income Taxes | ' | |||
NOTE 4 – Income Taxes | ||||
Deferred taxes are provided on an asset and liability approach whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. | ||||
The components of deferred income tax assets (liabilities) at December 31, 2013 and 2012, were as follows: | ||||
2013: | Balance | Rate | Tax | |
Federal loss carryforward (expires through 2033) | $531,415 | 34% | $180,681 | |
Valuation allowance | (180,681) | |||
Deferred tax asset | $0 | |||
2012: | Balance | Rate | Tax | |
Federal loss carryforward (expires through 2032) | $481,727 | 34% | $163,787 | |
Valuation allowance | (163,787) | |||
Deferred tax asset | $0 | |||
A reconciliation between expected and actual tax liability is presented below. | ||||
2013 | 2012 | |||
Expected Provision (Benefit) | ||||
($16,894) | ($15,916) | |||
Effect of: | 16,894 | 15,916 | ||
Increase in valuation allowance | ||||
Total Actual Provision | $0 | $0 | ||
At December 31, 2013, Han Logistics, Inc. has an a net operating loss carry forward for Federal income tax purposes totaling approximately $531,415 which, if not utilized, will begin to expire in 2019 and completely expire in the year 2033. During 2013, the valuation allowance increased by $16,894 from $ 163,787 | ||||
as of December 31, 2012. | ||||
The following table summarizes the Company’s net operating loss carry forwards: | ||||
Amount | Expires | |||
2,426 | 2019 | |||
29,845 | 2020 | |||
6,107 | 2021 | |||
2,528 | 2022 | |||
3,001 | 2023 | |||
6,438 | 2024 | |||
29,959 | 2025 | |||
85,306 | 2026 | |||
63,674 | 2027 | |||
41,403 | 2028 | |||
50,904 | 2029 | |||
60,722 | 2030 | |||
52,602 | 2031 | |||
46,812 | 2032 | |||
49,688 | 2033 |
Common_Stock
Common Stock | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Common Stock | ' |
NOTE 5 - Common Stock | |
On July 1, 1999, the Board of Directors authorized a stock issuance totaling 10,000,000 shares of common stock to an officer of the Company for cash consideration of $27,000, or $0.0027 per share. | |
During 2005, the Company issued 267,500 shares of common stock under this offering for gross proceeds of $53,500. Against the proceeds of the offering, $20,398 of stock issuance costs was offset against additional paid-in capital. | |
During 2006, the Company issued 101,000 shares of common stock under this offering for gross proceeds of $20,200. | |
During 2010, the Company increased the number of authorized, $0.001 par value, common stock from 50,000,000 to 500,000,000 shares. The Company also authorized a new class of preferred stock of 175,000,000 shares, par value $0.001. The Board of Directors may determine the powers, preferences and rights of any series of preferred shares. | |
On or about June 15, 2011, the Company effected a stock dividend of five for one of our outstanding common stock. The stock dividend was treated as a stock split due to the accumulated deficit. These financial statements have been retroactively adjusted for the stock dividend.. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Related Party Transactions | ' |
NOTE 6 - Related Party Transactions | |
The Company currently utilizes office space on a rent-free basis from a shareholder, and shall do so until substantial revenue-producing operations commence. Management deemed the rent-free space to be of nominal value. | |
Shareholders and other related parties had loaned $13,787 to the Company as of December 31, 2004, which is convertible to common stock at a rate of $0.10 per share. The effect of conversion on the loss per share calculation would be anti-dilutive, as the Company incurred losses in each of the periods presented in the financial statements. | |
Shareholders and other related parties loaned $23,800 to the Company during 2005, which is convertible to common stock at a rate of $0.10 per share. The effect of conversion on the loss per share calculation would be anti-dilutive, as the Company incurred losses in each of the periods presented in the financial statements. | |
Shareholders and other related parties loaned $17,100 to the Company during 2007, which is convertible to common stock at a rate of $0.10 per share. The effect of conversion on the loss per share calculation would be anti-dilutive, as the Company incurred losses in each of the periods presented in the financial statements. Additionally, the Company recorded an interest expense of $17,100 for the conversion feature of the loans made during 2007. | |
Shareholders and other related parties loaned $8,700 and $2,500 during 2008 and 2007, respectively, to the Company. These loans are demand notes and carry an interest rate of 24% per annum. | |
Shareholders and other related parties loaned $8,917 during 2009 to the Company. These loans are demand notes and carry an interest rate of 9- 18 %per annum. | |
Shareholders and other related parties loaned $5,000 during 2010 to the Company. These loans are demand notes and carry an interest rate of 10% per annum. | |
Shareholders and other related parties loaned $15,850 during 2011 to the Company. These loans are demand notes and carry an interest rate of 9% per annum. | |
Shareholders and other related parties loaned $14,500 during 2012 to the Company. These loans are demand notes and carry an interest rate of 9% per annum. | |
Shareholders and other related parties loaned $17,950 during 2013 to the Company. These loans are demand notes and carry an interest rate of 9% per annum. | |
The Company recorded an interest expense of $12,728 and $11,356 on the related party notes listed above for the year ended December 31, 2013 and 2012. As of December 31, 2013, the Company owed $74,517 in accrued interest on these notes. |
Notes_Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Notes Payable | ' |
NOTE 7 – Note Payable | |
An independent party loaned $ 9,700 to the Company on March 12, 2008. The note is unsecured, due upon demand and has an interest rate of 9%. | |
During 2010, an individual loaned $7,300 to the Company. The note is a demand note and carries an interest rate of 9%. The note is unsecured. | |
During 2011, an individual loaned $6,000 to the Company. The note is a demand note and carries an interest rate of 9%. The note is unsecured. | |
The Company recorded an interest expense of $2,070 and $2,070 on the notes listed above for the year ended December 31, 2013 and 2012. As of December 31, 2013, the Company owed $8,713 in accrued interest on these notes. |
Subsequent_Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Subsequent Event | ' |
Note 8 – Subsequent Event | |
Subsequent to year end the Company borrowed $8,825 from an officer. The amount is due on demand and has an interest rate of 9%. |
Organization_Consolidation_and1
Organization, Consolidation and Presentation of Financial Statements (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Organization, History, Business Activity and Significant Accounting Policies | ' |
Han Logistics, Inc. (Company) was founded July 1, 1999 and was organized to engage in the business of namely the development, marketing and delivering of logistical analysis, problem solving and other logistics services and general business services. The Company is currently seeking any business opportunities that may exist. The Company was incorporated under the laws of the State of Nevada. | |
The Company is considered to be in the development stage as defined by Statement of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 915, Development Stage. It has yet to commence full-scale operations and it continues to develop its planned principal operations. | |
NOTE 2 - Significant Accounting Policies | |
This summary of significant accounting policies of Han Logistics, Inc. (the “Company”) is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements. | |
Concentration of Credit Risk | ' |
Concentration of Risk | |
The Company places its cash with established financial institutions. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
Fair value of financial instruments: The carrying amounts of financial instruments, including cash, accounts payable, and accrued expenses approximated fair value as of December 31, 2013 and 2012 because of the relative short term nature of these instruments. | |
Revenue Recognition | ' |
Revenue Recognition | |
The Company recognizes revenue, in accordance with the Securities and Exchange Commission Staff Accounting Bulletin (SAB) number 104, which states that revenue is generally recognized when it is realized and earned. Specifically, the Company recognizes revenue when services are performed and projects are completed and accepted by the customer. | |
Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America 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 reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. | |
Income Taxes | ' |
Income Taxes | |
The Company accounts for income taxes under an asset and liability approach. This process involves calculating the temporary and permanent differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The temporary differences result in deferred tax assets and liabilities, which would be recorded on the Company’s balance sheets in accordance with ASC 740, which established financial accounting and reporting standards for the effect of income taxes. The Company must assess the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, the Company must establish a valuation allowance. Changes in the Company’s valuation allowance in a period are recorded through the income tax provision on the statements of operations. | |
The Company records interest and penalties arising from the underpayment of income taxes in the statement of income under general and administrative expenses. As of December 31, 2013 and 2012, the Company had no accrued interest or penalties related to uncertain tax positions. The company also did not have any uncertain tax benefits during these years. The tax years 2013, 2012 and 2011 remain open to examination. | |
Income (loss) Per Common Share | ' |
Loss per Share | |
The Company is required to provide basic and dilutive earnings (loss) per common share information. | |
The basic net loss per common share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding. | |
Diluted net loss per common share is computed by dividing the net loss applicable to common stockholders, adjusted on an "as if converted" basis, by the weighted average number of common shares outstanding plus potential dilutive securities. | |
For the period ended December 31, 2013, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share. Total potentially dilutive securities as of December 31, 2013 approximate 546,870 shares (see Note 6). | |
Recently Issued Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
The Company has reviewed all recently issued, but not yet adopted accounting standards in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements. | |
Financial Condition and Going Concern | ' |
NOTE 3 – Going Concern | |
The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplates continuation of the Company as a going concern. However, the Company has a substantial amount of notes payable and various accounts payable, has not generated any recent operating revenue, has incurred significant operating losses to date, has a negative cash flow from operations and has working capital and stockholders' deficits, which raises substantial doubt about its ability to continue as a going concern. | |
Management intends to raise additional operating funds through equity and/or debt offerings. However, there can be no assurance management will be successful in its endeavors. We are currently seeking potential assets, property, or business to acquire. | |
There are no assurances that Han Logistics, Inc. will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or bank financing are insufficient, 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 Han Logistics, Inc. If adequate working capital is not available Han Logistics, Inc. may be required to curtail its operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Tables/Schedules | ' | |||
Schedule of Deferred Tax Assets | ' | |||
2013: | Balance | Rate | Tax | |
Federal loss carryforward (expires through 2033) | $531,415 | 34% | $180,681 | |
Valuation allowance | (180,681) | |||
Deferred tax asset | $0 | |||
2012: | Balance | Rate | Tax | |
Federal loss carryforward (expires through 2032) | $481,727 | 34% | $163,787 | |
Valuation allowance | (163,787) | |||
Deferred tax asset | $0 | |||
Schedule of Components of Income Tax Expense (Benefit) | ' | |||
2013 | 2012 | |||
Expected Provision (Benefit) | ||||
($16,894) | ($15,916) | |||
Effect of: | 16,894 | 15,916 | ||
Increase in valuation allowance | ||||
Total Actual Provision | $0 | $0 | ||
Summary of Operating Loss Carryforwards | ' | |||
Amount | Expires | |||
2,426 | 2019 | |||
29,845 | 2020 | |||
6,107 | 2021 | |||
2,528 | 2022 | |||
3,001 | 2023 | |||
6,438 | 2024 | |||
29,959 | 2025 | |||
85,306 | 2026 | |||
63,674 | 2027 | |||
41,403 | 2028 | |||
50,904 | 2029 | |||
60,722 | 2030 | |||
52,602 | 2031 | |||
46,812 | 2032 | |||
49,688 | 2033 |
Organization_Consolidation_and2
Organization, Consolidation and Presentation of Financial Statements (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Details | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 546,870 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2033 | Dec. 31, 2032 | Dec. 31, 2031 | Dec. 31, 2030 | Dec. 31, 2029 | Dec. 31, 2028 | Dec. 31, 2027 | Dec. 31, 2026 | Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Tax Deferred Expense | $180,681 | $163,787 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | -180,681 | -163,787 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Net | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards | 531,415 | 481,727 | 49,688 | 46,812 | 52,602 | 60,722 | 50,904 | 41,403 | 63,674 | 85,306 | 29,959 | 6,438 | 3,001 | 2,528 | 6,107 | 29,845 | 2,426 |
Current Income Tax Expense (Benefit) | -16,894 | -15,916 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 16,894 | 15,916 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit), Continuing Operations | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | $180,681 | $163,787 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common_Stock_Details
Common Stock (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||||
Dec. 31, 1999 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2012 | |
Details | ' | ' | ' | ' | ' | ' |
Issued stock for cash at inception, shares | 10,000,000 | ' | ' | ' | ' | ' |
Issued stock for cash at inception, value | $27,000 | ' | ' | ' | ' | ' |
Price Per Share of July 1999 Issuance | $0.00 | ' | ' | ' | ' | ' |
Common stock issued for cash, shares | ' | ' | ' | 101,000 | 267,500 | ' |
Common stock issued for cash, value | ' | ' | ' | 20,200 | 53,500 | ' |
Stock issuance costs | ' | ' | ' | ' | $20,398 | ' |
Common stock par value | ' | $0.00 | ' | ' | ' | $0.00 |
Old Common Stock Shares Authorized | ' | 50,000,000 | ' | ' | ' | ' |
Common stock authorized | ' | 500,000,000 | ' | ' | ' | 500,000,000 |
Preferred stock authorized | ' | 175,000,000 | ' | ' | ' | 175,000,000 |
Preferred stock par value | ' | $0.00 | ' | ' | ' | $0.00 |
Stockholders' Equity Note, Stock Split | ' | ' | 'On or about June 15, 2011, the Company effected a stock dividend of five for one of our outstanding common stock. The stock dividend was treated as a stock split due to the accumulated deficit. These financial statements have been retroactively adjusted for the stock dividend | ' | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 12 Months Ended | 174 Months Ended | ||||||||
Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2013 | |
Details | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in notes payable-Related parties | $8,825 | $17,950 | $14,500 | $15,850 | $5,000 | $8,917 | $8,700 | $2,500 | $23,800 | $13,787 | $128,104 |
Amount per share convertible to common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 | ' |
Cost of beneficial conversion feature | ' | ' | ' | ' | ' | ' | ' | 17,100 | 23,500 | ' | ' |
2007 and 2008 related parties demand loans annual interest rate | ' | 24.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2009 related parties demand loan annual interest rate minimum | ' | ' | ' | ' | ' | 9.00% | ' | ' | ' | ' | ' |
2009 related parties demand loan annual interest rate maximum | ' | ' | ' | ' | ' | 18.00% | ' | ' | ' | ' | ' |
Related Party Transaction, Rate | 9.00% | 9.00% | 9.00% | 9.00% | 10.00% | ' | ' | ' | ' | ' | ' |
Interest expense - Related Parties | ' | 12,728 | 11,356 | ' | ' | ' | ' | ' | ' | ' | 115,844 |
Accrued interest - Related parties | ' | $74,517 | $61,790 | ' | ' | ' | ' | ' | ' | ' | $74,517 |
Notes_Payable_Details
Notes Payable (Details) (USD $) | 12 Months Ended | 174 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2008 | Dec. 31, 2013 | |
Details | ' | ' | ' | ' | ' | ' |
Increase in notes payable | $0 | $0 | $6,000 | $7,300 | $9,700 | $23,000 |
Accounts Payable, Interest-bearing, Interest Rate | ' | ' | 9.00% | 9.00% | 9.00% | ' |
Interest expense | 2,070 | 2,070 | ' | ' | ' | 8,713 |
Accrued interest | $8,713 | $6,643 | ' | ' | ' | $8,713 |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | 3 Months Ended | 12 Months Ended | 174 Months Ended | ||||||||
Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2013 | |
Details | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in notes payable-Related parties | $8,825 | $17,950 | $14,500 | $15,850 | $5,000 | $8,917 | $8,700 | $2,500 | $23,800 | $13,787 | $128,104 |
Related Party Transaction, Rate | 9.00% | 9.00% | 9.00% | 9.00% | 10.00% | ' | ' | ' | ' | ' | ' |