Asia Interactive Media 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	15-May-15
Document And Entity Information
Entity Registrant Name	Asia Interactive Media Inc.
Entity Central Index Key	1172318
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		6,534,492
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Balance_Sheet

Balance Sheet (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current Assets
Cash	$16,743	$20,642
Total Current Assets	16,743	20,642
Total Assets	16,743	20,642
Current Liabilities
Accounts payable and accrued liabilities	14,113	13,492
Total Current Liabilities	14,113	13,492
Total Liabilities	14,113	13,492
Stockholders' Equity (Deficit)
Common Stock: Authorized: 100,000,000 shares, $0.00001 par value; 6,534,492 shares issued and outstanding (Note 4)	66	66
Additional Paid-in Capital (Note 4)	598,734	598,734
Donated Capital	37,628	37,628
Deficit Accumulated during the Development Stage	-633,798	-629,278
Total Stockholders' Equity (Deficit)	2,630	7,150
Total Liabilities and Stockholders' Equity	$16,743	$20,642

Balance_Sheet_Parenthetical

Balance Sheet (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, par value	$0.00	$0.00
Common Stock, shares issued	6,534,492	6,534,492
Common Stock, shares outstanding	6,534,492	6,534,492

Statements_of_Operations_Unaud

Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenue
Operating Expenses
General and administrative	4,520	2,342
Total Operating Expenses	4,520	2,342
Write-off of Loan Receivable
Other Income		15,000
Net Income (Loss)	($4,520)	$12,658
Net Income (Loss) Per Share - Basic and Diluted	$0	$0
Weighted Average Shares Outstanding	6,534,492	6,534,492

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating Activities
Net income	($4,520)	$12,658
Add (deduct) items not involving cash
Write-off of loan receivable
Accrued interest income on loan receivable
Adjustment to reconcile net loss to net cash used in operating activities
Donated expenses
Change in operating assets and liabilities
Accounts receivable		-15,000
Loan receivable
Accounts payable and accrued liabilities	621	330
Due to related party
Advances from officers
Net Cash From (Used in) Operating Activities	-3,899	-2,012
Financing Activities
Loan payable
Common stock
Additional paid-in capital
Stock subscriptions
Net Cash Provided by (Used in) Financing Activities	0	0
Net Increase (Decrease) in Cash	-3,899	-2,012
Cash - Beginning of Period	20,642	23,946
Cash - End of Period	16,743	21,934
Supplemental Disclosures:
Interest paid
Income tax paid

Nature_of_Business_and_Continu

Nature of Business and Continuance of Operations	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Continuance of Operations	1	Nature of Business and Continuance of Operations
	Asia Interactive Media Inc. (previously Black Gardenia Corp.), herein “the Company”, was incorporated on February 9, 2000 pursuant to the Laws of the State of Nevada, USA. The Company has no primary business operations and is considered a development stage company, as defined by Accounting Standards Codification (“ASC”) 915.10.05 “Accounting and Reporting by Development Stage Enterprises”. The Company was formed for the purpose of merging with, engaging in a capital stock exchange with, purchasing all or substantially all of the assets of, or engaging in any other similar business combination with one or more operating businesses. The Company provides miscellaneous consulting services, and it is management’s opinion that the consulting activities may result in opportunities for the Company through a possible merger, acquisition or business combination. On March 22, 2007 the Company changed its name to “Asia Interactive Media Inc.”
	The accompanying financial statements have been prepared using generally accepted accounting principles in the United States of America (“U.S. GAAP”) applicable for a going concern which assumes that the Company will realize its assets and discharge its liabilities in the ordinary course of business. The Company has never generated revenues since inception and has never paid any dividends and is unlikely to pay dividends or generate earnings in the immediate or foreseeable future. At March 31, 2015, the Company had a working capital surplus of $2,630 and has accumulated losses of $633,798 since its inception. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. It is management’s plan to seek additional capital through equity and/or debt financings. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern.
	In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2		Summary of Significant Accounting Policies
		a)	Basis of Presentation
			The accompanying financial statements have been prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of and for the three months ended March 31, 2015 and 2014.
		b)	Use of Estimates
			The preparation of financial statements in conformity with U.S. GAAP 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 period. Actual results could differ from those estimates.
		c)	Basic and Diluted Net Income (Loss) Per Share
			The Company computes net income (loss) per share in accordance with ASC 260.10.05 which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
		d)	Comprehensive Loss
			ASC 220.10.05, “Reporting Comprehensive Income”, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at March 31, 2015 and 2014, the Company has no items that represent a comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements.
		e)	Cash and Cash Equivalents
			The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
		f)	Long-Lived Assets
			In accordance with ASC 360.10.05, “Accounting for the Impairment or Disposal of Long-Lived Assets”, the carrying value of long-lived assets is reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value.
		g)	Financial Instruments
			The fair value of financial instruments, which include cash, accounts payable, accrued liabilities and due to related party, were estimated to approximate their carrying values due to the immediate or short-term maturity of these financial instruments. Foreign currency transactions are primarily undertaken in Canadian dollars. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.
		h)	Income Taxes
			Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740.10.05 “Accounting for Income Taxes” as of its inception. Pursuant to ASC 740.10.05, the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.
		i)	Foreign Currency Translation
			The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated in accordance with ASC 830.10.05 “Foreign Currency Translation”, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian dollars. The Company has not, to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
		j)	Recent Accounting Pronouncements
			From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial statements upon adoption.

Miscellaneous_Income

Miscellaneous Income	3 Months Ended
	Mar. 31, 2015
Other Income and Expenses [Abstract]
Miscellaneous Income	3	Miscellaneous Income
	Miscellaneous income consists of income generated from consulting activities. Consulting activities include providing business advisory services and referral services for expansion opportunities in Asia. For the three months ended March 31, 2015 and 2014, $Nil and $15,000 was earned, respectively.

Common_Stock_and_Additional_Pa

Common Stock and Additional Paid-In Capital	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Common Stock and Additional Paid-In Capital	4	Common Stock and Additional Paid-In Capital
	Common Stock: Authorized: 100,000,000 shares, $0.00001 par value; 6,534,492 shares issued and outstanding
									Additional
									Paid-in
									Capital
			Shares			Amount			(Discount)
			#			$			$
	Balance – February 9, 2000 (Date of Inception)			–			–			–
	March 2, 2000 – Issuance of stock for cash			5,000,000			50			450
	January 8, 2008 – Issuance of stock for cash			1,634,492			17			648,283
	April 28, 2011 – Share Repurchase			(100,000	)		(1	)		(49,999	)
	Balance – March 31, 2015			6,534,492			66			598,734

Subsequent_Event

Subsequent Event	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Event	5	Subsequent Events
	Management has reviewed events between March 31, 2015 and May 15, 2015 and no significant events were identified.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	a)	Basis of Presentation
		The accompanying financial statements have been prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of and for the three months ended March 31, 2015 and 2014.
Use of Estimates	b)	Use of Estimates
		The preparation of financial statements in conformity with U.S. GAAP 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 period. Actual results could differ from those estimates.
Basic and Diluted Net Income (Loss) Per Share	c)	Basic and Diluted Net Income (Loss) Per Share
		The Company computes net income (loss) per share in accordance with ASC 260.10.05 which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
Comprehensive Loss	d)	Comprehensive Loss
		ASC 220.10.05, “Reporting Comprehensive Income”, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at March 31, 2015 and 2014, the Company has no items that represent a comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements.
Cash and Cash Equivalents	e)	Cash and Cash Equivalents
		The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
Long-Lived Assets	f)	Long-Lived Assets
		In accordance with ASC 360.10.05, “Accounting for the Impairment or Disposal of Long-Lived Assets”, the carrying value of long-lived assets is reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value.
Financial Instruments	g)	Financial Instruments
		The fair value of financial instruments, which include cash, accounts payable, accrued liabilities and due to related party, were estimated to approximate their carrying values due to the immediate or short-term maturity of these financial instruments. Foreign currency transactions are primarily undertaken in Canadian dollars. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.
Income Taxes	h)	Income Taxes
		Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740.10.05 “Accounting for Income Taxes” as of its inception. Pursuant to ASC 740.10.05, the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.
Foreign Currency Translation	i)	Foreign Currency Translation
		The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated in accordance with ASC 830.10.05 “Foreign Currency Translation”, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian dollars. The Company has not, to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
Recent Accounting Pronouncements	j)	Recent Accounting Pronouncements
		From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial statements upon adoption.

Common_Stock_and_Additional_Pa1

Common Stock and Additional Paid-In Capital (Tables)	3 Months Ended
	Mar. 31, 2015
Common Stock And Additional Paid-in Capital Tables
Schedule of Common Stock and Additional Paid-In Capital	Common Stock: Authorized: 100,000,000 shares, $0.00001 par value; 6,534,492 shares issued and outstanding
								Additional
								Paid-in
								Capital
		Shares			Amount			(Discount)
		#			$			$
	Balance – February 9, 2000 (Date of Inception)		–			–			–
	March 2, 2000 – Issuance of stock for cash		5,000,000			50			450
	January 8, 2008 – Issuance of stock for cash		1,634,492			17			648,283
	April 28, 2011 – Share Repurchase		(100,000	)		(1	)		(49,999	)
	Balance – March 31, 2015		6,534,492			66			598,734

Nature_of_Business_and_Continu1

Nature of Business and Continuance of Operations (Details Narrative) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital surplus	$2,630
Accumulated loss since inception	$633,798	$629,278

Miscellaneous_Income_Details_N

Miscellaneous Income (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Other Income and Expenses [Abstract]
Income generated from consulting activities		$15,000

Common_Stock_and_Additional_Pa2

Common Stock and Additional Paid-in Capital (Details Narrative) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, par value	$0.00	$0.00
Common Stock, shares issued	6,534,492	6,534,492
Common Stock, shares outstanding	6,534,492	6,534,492

Common_Stock_and_Additional_Pa3

Common Stock and Additional Paid-In Capital - Schedule of Common Stock and Additional Paid-In Captial (Details) (USD $)	182 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Balance		$7,150
Balance	2,630	7,150
Common Stock [Member]
Balance
Balance, shares
March 2, 2000 - Issuance of stock for cash	50
March 2, 2000 - Issuance of stock for cash, shares	5,000,000
January 8, 2008 - Issuance of stock for cash	17
January 8, 2008 - Issuance of stock for cash, shares	1,634,492
April 28, 2011 - Share Repurchase	-1
April 28, 2011 - Share Repurchase	-100,000
Balance	66
Balance, shares	6,534,492
Additional Paid-In Capital (Discount) [Member]
Balance
March 2, 2000 - Issuance of stock for cash	450
January 8, 2008 - Issuance of stock for cash	648,283
April 28, 2011 - Share Repurchase	-49,999
Balance	$598,734