Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 07, 2014 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'HAN LOGISTICS INC | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
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 | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
HAN_LOGISTICS_INC_UNAUDITED_CO
HAN LOGISTICS, INC. UNAUDITED CONDENSED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Statement of Financial Position | ' | ' |
Cash | $67 | $117 |
Total Current Assets | 67 | 117 |
TOTAL ASSETS | 67 | 117 |
Accounts payable | 224,718 | 208,645 |
Accounts payable-Related parties | 8,250 | 8,250 |
Accrued interest | 10,261 | 8,713 |
Accrued interest - Related parties | 85,473 | 74,517 |
Notes payable | 23,000 | 23,000 |
Notes payable-Related parties | 151,229 | 128,104 |
Total Current Liabilities | 502,931 | 451,229 |
Total liabilities | 502,931 | 451,229 |
Commitments and Contingencies | ' | ' |
Preferred stock, Class A Preferred Stock, $.001 par value; 175,000,000 shares authorized; no shares issued and outstanding at September 30, 2014 and December 31, 2013 | 0 | 0 |
Common stock, $.001 par value; 500,000,000 shares authorized; 10,368,500 shares issued and outstanding at September 30, 2014 and December 31, 2013 | 10,369 | 10,369 |
Additional paid-in capital | 110,533 | 110,533 |
Accumulated deficit | -623,766 | -572,014 |
Total Stockholders' Deficit | -502,864 | -451,112 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $67 | $117 |
Han_Logistics_Inc_Balance_Shee
Han Logistics, Inc. Balance Sheet (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Statement of Financial Position | ' | ' |
Preferred stock authorized | 175,000,000 | 175,000,000 |
Preferred stock par value | $0.00 | $0.00 |
Preferred stock issued | 0 | 0 |
Preferred stock outstanding | 0 | 0 |
Common stock authorized | 500,000,000 | 500,000,000 |
Common stock par value | $0.00 | $0.00 |
Common stock issued | 10,368,500 | 10,368,500 |
Common stock outstanding | 10,368,500 | 10,368,500 |
HAN_LOGISTICS_INC_UNAUDITED_CO1
HAN LOGISTICS, INC. UNAUDITED CONDENSED STATEMENTS OF OPERATIONS For the Three and Nine Months Ended September 30, 2014 and 2013 (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Statement | ' | ' | ' | ' |
Revenues | $0 | $0 | $0 | $0 |
Gross Revenues | 0 | 0 | 0 | 0 |
Operating Expenses | ' | ' | ' | ' |
General and administrative expenses | 10,963 | 6,192 | 39,248 | 28,468 |
Total Operating Expenses | 10,963 | 6,192 | 39,248 | 28,468 |
Loss from Operations | -10,963 | -6,192 | -39,248 | -28,468 |
Other Expense | ' | ' | ' | ' |
Interest expense | -522 | -523 | -1,548 | -1,549 |
Interest expense - related parties | -3,872 | -3,239 | -10,956 | -9,374 |
Total Other Expense | -4,394 | -3,762 | -12,504 | -10,923 |
Loss before Income Taxes | -15,357 | -9,954 | -51,752 | -39,391 |
Provisions for Income Taxes | 0 | 0 | 0 | 0 |
Net Loss | ($15,357) | ($9,954) | ($51,752) | ($39,391) |
Net Loss Per Share Basic and Diluted | ($0.01) | ($0.01) | ($0.01) | ($0.01) |
Weighted Average Shares Outstanding Basic and Diluted | 10,368,500 | 10,368,500 | 10,368,500 | 10,368,500 |
HAN_LOGISTICS_INC_UNAUDITED_CO2
HAN LOGISTICS, INC. UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2014 (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net Loss | ($51,752) | ($39,391) |
Increase in accounts payable | 16,073 | 15,524 |
Increase in accrued expenses | 12,504 | 10,922 |
Net cash used in operating activities | -23,175 | -12,945 |
Net cash used in investing activities | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from notes payable-Related parties | 23,125 | 12,950 |
Net cash provided by financing activities | 23,125 | 12,950 |
Net Increase (decrease) in cash | -50 | 5 |
CASH AT BEGINNING PERIOD | 117 | 137 |
CASH AT END OF PERIOD | $67 | $142 |
Organization_Consolidation_and
Organization, Consolidation and Presentation of Financial Statements | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Organization, Consolidation and Presentation of Financial Statements | ' |
NOTE A - PRESENTATION | |
The balance sheets of the Company as of September 30, 2014 and December 31, 2013, the related statements of operations for the three months ended September 30, 2014 and 2013 and the nine months ended September 30, 2014 and 2013, and the statements of cash flows for the nine months ended September 30, 2014 and 2013, (the financial statements) include all adjustments (consisting of normal recurring adjustments) necessary to summarize fairly the Company's financial position and results of operations. The results of operations for the three months ended September 30, 2014 are not necessarily indicative of the results of operations for the full year or any other interim period. The information included in this Form 10-Q should be read in conjunction with Management's Discussion and Analysis and Financial Statements and notes thereto included in the Company's December 31, 2013, Form 10-K. | |
NOTE B - 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 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. This is due to the fact that the Company has not begun its planned principal operations as of the date of this report. | |
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 or cease its operations. | |
NOTE C – RECENT ACCOUNTING PRONOUNCEMENTS | |
From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption. | |
Update No. 2014-09—Revenue from Contracts with Customers (Topic 606) | |
Section A—Summary and Amendments That Create Revenue from Contracts with Customers (Topic 606) and Other Assets and Deferred Costs—Contracts with Customers (Subtopic 340-40) | |
Section B—Conforming Amendments to Other Topics and Subtopics in the Codification and Status Tables | |
Section C—Background Information and Basis for Conclusion | |
The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: | |
Step 1: Identify the contract(s) with a customer. | |
Step 2: Identify the performance obligations in the contract. | |
Step 3: Determine the transaction price. | |
Step 4: Allocate the transaction price to the performance obligations in the contract. | |
Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. | |
For a public entity, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Due to lack of revenues in the periods presented, the Company believes it will have not financial effect to its financials upon adoption. | |
Update No. 2014-10—Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation | |
The amendments in this Update remove the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. | |
The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties, is applicable to entities that have not commenced planned principal operations. | |
The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively. For public business entities, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. The Company adopted this amendment to its financials in the current reporting period. The amendment is strictly presentation of the financial statements of development companies and has no financial effect on the statements presented herein. |
Risks_and_Uncertainties
Risks and Uncertainties | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Risks and Uncertainties | ' |
NOTE D – RISKS AND UNCERTAINTIES | |
At September 30, the Company had no material operations. The Company is subject to risks and uncertainties, including new product development, actions of competitors, reliance on the knowledge and skills of its employees to be able to service customers, and availability of sufficient capital and a limited operating history. Accordingly, the Company presents its financial statements in accordance with the accounting principles generally accepted in the United States of America that apply in establishing new operating enterprises. | |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Related Party Transactions | ' |
NOTE E – 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. Additionally, the Company recorded an interest expense of $23,800 for the conversion feature of the loans made during 2005. | |
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. This loan is a demand note and carries an interest rate of 9% per annum. | |
Shareholders and other related parties loaned $17,950 during 2013 to the Company. This loan is a demand note and carries an interest rate of 9% per annum. | |
A shareholder loaned $23,125 during the nine months ended September 30, 2014 to the Company. These loans are demand notes and carry an interest rate of 9% per annum. | |
The Company recorded an interest expense of $10,956 and $9,374 on the related party notes listed above for the nine months ended September 30, 2014 and 2013, respectively. As of September 30, 2014, the Company owed $85,473 in accrued interest on these notes. |
Note_Payable
Note Payable | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Note Payable | ' |
NOTE F – NOTES 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 $1,548 on the notes listed above for the nine months ended September 30, 2014 and $1,549 for nine months ended September 30, 2013. As of September 30, 2014, the Company owed $10,261 in accrued interest on these notes. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Subsequent Events | ' |
NOTE G – SUBSEQUENT EVENT | |
Subsequent to September 30, 2014, the Company borrowed $1,000 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) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Presentation | ' |
NOTE A - PRESENTATION | |
The balance sheets of the Company as of September 30, 2014 and December 31, 2013, the related statements of operations for the three months ended September 30, 2014 and 2013 and the nine months ended September 30, 2014 and 2013, and the statements of cash flows for the nine months ended September 30, 2014 and 2013, (the financial statements) include all adjustments (consisting of normal recurring adjustments) necessary to summarize fairly the Company's financial position and results of operations. The results of operations for the three months ended September 30, 2014 are not necessarily indicative of the results of operations for the full year or any other interim period. The information included in this Form 10-Q should be read in conjunction with Management's Discussion and Analysis and Financial Statements and notes thereto included in the Company's December 31, 2013, Form 10-K. | |
Going Concern | ' |
NOTE B - 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 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. This is due to the fact that the Company has not begun its planned principal operations as of the date of this report. | |
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 or cease its operations. | |
Recent Accounting Pronouncements | ' |
NOTE C – RECENT ACCOUNTING PRONOUNCEMENTS | |
From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption. | |
Update No. 2014-09—Revenue from Contracts with Customers (Topic 606) | |
Section A—Summary and Amendments That Create Revenue from Contracts with Customers (Topic 606) and Other Assets and Deferred Costs—Contracts with Customers (Subtopic 340-40) | |
Section B—Conforming Amendments to Other Topics and Subtopics in the Codification and Status Tables | |
Section C—Background Information and Basis for Conclusion | |
The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: | |
Step 1: Identify the contract(s) with a customer. | |
Step 2: Identify the performance obligations in the contract. | |
Step 3: Determine the transaction price. | |
Step 4: Allocate the transaction price to the performance obligations in the contract. | |
Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. | |
For a public entity, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Due to lack of revenues in the periods presented, the Company believes it will have not financial effect to its financials upon adoption. | |
Update No. 2014-10—Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation | |
The amendments in this Update remove the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. | |
The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties, is applicable to entities that have not commenced planned principal operations. | |
The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively. For public business entities, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. The Company adopted this amendment to its financials in the current reporting period. The amendment is strictly presentation of the financial statements of development companies and has no financial effect on the statements presented herein. |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2014 | Sep. 30, 2013 | 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 | |
Details | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2004 related parties loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,787 |
Amount per share convertible to common stock | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 | $0.10 | $0.10 |
2005 related parties loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,800 | ' |
2005 interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,800 | ' |
2007 related parties loan | ' | ' | ' | ' | ' | ' | ' | ' | 17,100 | ' | ' |
2007 interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 17,100 | ' | ' |
2008 related parties demand loan | ' | ' | ' | ' | ' | ' | ' | 8,700 | ' | ' | ' |
2007 related parties demand loan | ' | ' | ' | ' | ' | ' | ' | ' | 2,500 | ' | ' |
2007 and 2008 related parties demand loans annual interest rate | ' | ' | ' | ' | ' | ' | ' | ' | 24.00% | ' | ' |
2009 related parties demand loan | ' | ' | ' | ' | ' | ' | 8,917 | ' | ' | ' | ' |
2009 related parties demand loan annual interest rate minimum | ' | ' | ' | ' | ' | ' | 9.00% | ' | ' | ' | ' |
2009 related parties demand loan annual interest rate maximum | ' | ' | ' | ' | ' | ' | 18.00% | ' | ' | ' | ' |
2010 related parties demand loan | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' |
2010 related parties demand loan annual interest rate | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' |
2011 related parties demand loan | ' | ' | ' | ' | 15,850 | ' | ' | ' | ' | ' | ' |
2011 related parties demand loan annual interest rate | ' | ' | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' |
2012 related parties demand loan | ' | ' | ' | 14,500 | ' | ' | ' | ' | ' | ' | ' |
2012 related parties demand loan annual interest rate | 9.00% | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' | ' |
2013 related parties demand loan | ' | ' | 17,950 | ' | ' | ' | ' | ' | ' | ' | ' |
2013 related parties demand loan annual interest rate | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Notes Payable, Related Parties | 23,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related parties interest expense | 10,956 | 9,374 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest - Related parties | $85,473 | ' | $74,517 | ' | ' | ' | ' | ' | ' | ' | ' |
Note_Payable_Details
Note Payable (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Mar. 12, 2008 | |
Details | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Independent party loan | ' | ' | ' | ' | ' | ' | ' | ' | $9,700 |
Independent party loan interest rate | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% |
Individual demand loan | 1,000 | ' | ' | ' | ' | 6,000 | 7,300 | ' | ' |
Individual demand loan interest rate | 9.00% | ' | ' | ' | ' | 9.00% | 9.00% | ' | ' |
Interest expense | ' | -522 | -523 | -1,548 | -1,549 | ' | ' | ' | ' |
Accrued interest | ' | $10,261 | ' | $10,261 | ' | ' | ' | $8,713 | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2011 | Dec. 31, 2010 | |
Details | ' | ' | ' |
Individual demand loan | $1,000 | $6,000 | $7,300 |
Individual demand loan interest rate | 9.00% | 9.00% | 9.00% |