Creative Medical Technology (CELZ) 10-K 14 Apr 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Apr. 14, 2016	Jun. 30, 2015
STOCKHOLDERS' DEFICIT CHANGES
Entity Registrant Name	JOLLEY MARKETING INC
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Entity Central Index Key	1,187,953
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		18,113,750
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	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 0
Trading Symbol	jllm

JOLLEY MARKETING, INC. BALANCE

JOLLEY MARKETING, INC. BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash			$ 216	$ 954
Total Current Assets			216	954
Total Assets			216	954
CURRENT LIABILITIES:
Accounts payable			17,079	10,188
Notes payable and accrued interest - related party			140,741	143,809
Total Current Liabilities			157,820	153,997
LONG-TERM LIABILITIES
Notes payable - related party	$ 26,200	$ 0	26,200	0
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding			0	0
Common stock, $0.001 par value, 600,000,000 shares authorized, 18,113,750 shares issued and Outstanding			18,114	18,114
Capital in excess of par value			154,181	154,181
Retained Deficit			(356,099)	(325,338)
Total Stockholders' Deficit			(183,804)	(153,043)
Total Liabilities and Stockholders' Deficit			$ 216	$ 954

Jolley Marketing, Inc. Balance3

Jolley Marketing, Inc. Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position
Preferred stock authorized	10,000,000	10,000,000
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock outstanding	0	0
Preferred stock issued	0	0
Common stock authorized	600,000,000	600,000,000
Common stock par value	$ 0.001	$ 0.001
Common stock outstanding	18,113,750	18,113,750
Common stock issued	18,113,750	18,113,750

JOLLEY MARKETING, INC. STATEMEN

JOLLEY MARKETING, INC. STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Statement
REVENUE	$ 0	$ 0
OPERATING EXPENSES:
Professional fees	19,806	18,676
Other general and administrative	1,025	750
Total Operating Expenses	20,831	19,426
LOSS BEFORE OTHER INCOME (EXPENSE)	(20,831)	(19,426)
OTHER INCOME (EXPENSE):
Interest expense - related party	(9,930)	(8,586)
Total Other Income (Expense)	(9,930)	(8,586)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(30,761)	(28,012)
CURRENT INCOME TAX BENEFIT (EXPENSE)	0	0
DEFERRED INCOME TAX BENEFIT (EXPENSE)	0	0
NET LOSS	$ (30,761)	$ (28,012)
BASIC AND DILUTED LOSS PER COMMON SHARE:
Net loss per common share	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	18,113,750	18,113,750

JOLLEY MARKETING, INC. STATEME5

JOLLEY MARKETING, INC. STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014 - USD ($)	Preferred stock	Common stock	Capital in Excess of Par Value	Retained Deficit	Total
Balance preferred shares, beginning balance at Dec. 31, 2013	0
Balance common shares, beginning balance at Dec. 31, 2013		18,113,750	0	0	18,113,750
Stockholders' Equity, beginning balance at Dec. 31, 2013	$ 0	$ 18,114	$ 154,181	$ (297,326)	$ (125,031)
Net Loss	$ 0	$ 0	$ 0	$ (28,012)	$ (28,012)
Balance preferred shares, ending balance at Dec. 31, 2014	0				0
Balance common shares, ending balance at Dec. 31, 2014		18,113,750	0	0	18,113,750
Stockholders' Equity, ending balance at Dec. 31, 2014	$ 0	$ 18,114	$ 154,181	$ (325,338)	$ (153,043)
Net Loss	$ 0	$ 0	$ 0	$ (30,761)	$ (30,761)
Balance preferred shares, ending balance at Dec. 31, 2015	0				0
Balance common shares, ending balance at Dec. 31, 2015		18,113,750	0	0	18,113,750
Stockholders' Equity, ending balance at Dec. 31, 2015	$ 0	$ 18,114	$ 154,181	$ (356,099)	$ (183,804)

JOLLEY MARKETING, INC. STATEME6

JOLLEY MARKETING, INC. STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows From Operating Activities:
Net Loss	$ (30,761)	$ (28,012)
Changes in assets and liabilities:
(Increase) decrease in prepaid expense	0	0
Increase (decrease) in accounts payable	6,890	2,106
Increase in accrued interest - related party	9,233	8,586
Net cash used by operating activities	(14,638)	(17,320)
Cash Flows From Investing Activities:
Net cash provided by investing activities	0	0
Cash Flows From Financing Activities:
Payments on notes payable - related party	0	0
Proceeds from issuance of notes payable - related party	13,900	17,900
Net cash provided by financing activities	13,900	17,900
Net Increase (Decrease) in Cash	(738)	580
Cash at Beginning of Period	954	374
Cash at End of Period	216	954
Supplemental Disclosures of Cash Flow Information:
Interest	697	0
Income taxes	$ 0	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Notes
Summary of Significant Accounting Policies	NOTE 1 SUMMARY OF SIGNI FIC ANT ACCOUNTING POLICIES Organization – In September 2002 the Company filed SEC Form SB-2 but immediately withdrew the filing in November of the same year due to health problems of the Company’s president. None of the Company’s securities were offered, or sold, under that registration. Cash and Cash Equivalents - Accounting Estimates - Dividends - Revenue Recognition - Impairment of Long-Lived Assets Income Taxes The Company adopted ASC 740, Accounting for Uncertainty in Income Taxes on January 1, 2007. This interpretation requires recognition and measurement of uncertain tax positions using a "more-likely-than-not" approach, requiring the recognition and measurement of uncertain tax positions. The adoption of ASC 740 had no material impact on the Company's financial statements. (See Note 5 below). Earnings (Loss) Per Share The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents which would arise from the exercise of stock options and warrants outstanding using the treasury stock method and the average market price per share during the period. Common stock equivalents are not included in the diluted earnings per share calculation when their effect is antidilutive. The Company has not granted any stock options or warrants since inception. Recently Enacted Accounting Standards NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, during the year ended December 31, 2015, the Company incurred a net loss of $30,761, had negative cash flows, and has no operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of common stock. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Notes
Related Party Transactions	NOTE 3 RELATED PARTY TRANSACTIONS Notes Payable – During 2009, 2010 and 2011 an entity owned by an officer/shareholder of the Company loaned a total of $53,150 to the Company. The notes are due on demand and bear interest at 8% per annum. For the years ended December 31, 2014 and 2015, the Company accrued interest expense of $4,252 and $4,252, respectively, on the notes. Total accrued interest is $20,840 and $25,092 at December 31, 2014 and December 31, 2015, respectively. On February 8, 2012 a minority shareholder loaned $3,500 to the Company. On March 5, 2012, a related party loaned $3,000 to the Company. This note was paid in full in 2015. On July 16, 2012, a minority shareholder loaned $1,000 to the Company. On February 4, 2013, a minority shareholder loaned $6,000 to the Company. On February 9, 2015, the Company entered into an amendment to the February 4, 2013 promissory note amending the maturity date to February 4, 2016. On March 2, 2016, the Company entered into an amendment to the February 4, 2013 note, amending the maturity date to February 4, 2017. On March 14, 2013, a minority shareholder loaned $2,850 to the Company. On February 9, 2015, the Company entered into an amendment to the March 14, 2013 promissory note amending the maturity date to March 14, 2016. On March 2, 2016, the Company entered into an amendment to the March 14, 2013 note, amending the maturity date to March 14, 2017. On May 9, 2013 a minority shareholder loaned $5,700 to the Company. On August 1, 2015, the Company entered into an amendment to the May 9, 2013 note, amending the maturity date to August 6, 2016. On August 6, 2013 a minority shareholder loaned $12,000 to the Company. On August 1, 2015, the Company entered into an amendment to the August 16, 2013 note, amending the maturity date to August 6, 2016. On March 18, 2014, a minority shareholder loaned $5,000 to the Company. On March 2, 2016, the Company entered into an amendment to the March 18, 2014 note, amending the maturity date to March 18, 2017. On May 8, 2014, a minority shareholder loaned $5,250 to the Company. The note bears interest of 8% and is due on May 8, 2016. On August 4, 2014, a minority shareholder loaned $2,650 to the Company. The note bears interest of 8% and is due on August 4, 2016. On October 15, 2014, a minority shareholder loaned $5,000 to the Company. The note bears interest at 8% and is due on October 15, 2016. Long-term debt On November 7, 2013, a minority shareholder loaned $9,300 to the Company. On November 7, 2015, the Company entered into an amendment to the November 7, 2013 note extending the maturity date to November 7, 2017. On February 18, 2015, a minority shareholder loaned $8,000 to the Company. The note bears interest of 8% and is due on February 18, 2017. On May 5, 2015, a minority shareholder loaned $5,000 to the Company. The note bears interest of 8% and is due on May 5, 2017. On August 13, 2015, a minority shareholder loaned $2,500 to the Company. The note bears interest of 8% and is due on August 13, 2017. On November 20, 2015, a minority shareholder loaned $1,000 to the Company. The note bears interest of 8% and is due on November 20, 2017. On December 28, 2015, a minority shareholder loaned $400 to the Company. The note bears interest at 8% and is due December 28, 2017. Maturities on long-term debt are as follows: 2016 $ 0 2017 26,200 $ 26,200 As of December 31, 2015, the total outstanding balance of these notes payable is $76,750. During the year ended December 31, 2014 and 2015, the Company recorded interest expense of $4,334 and $5,678 respectively, on these notes. Total accrued interest is $6,968 and $ 12,646 at December 31, 2014 and December 31, 2015, respectively. Management Compensation – During the years ended December 31, 2014 and 2015, the Company paid no compensation to its officers and directors. Office Space – The Company has not had a need to rent office space. Officers/stockholders of the Company have allowed the Company to use their offices as a mailing address, as needed, at no cost to the Company.

Capital Stock

Capital Stock	12 Months Ended
	Dec. 31, 2015
Notes
Capital Stock	NOTE 4 CAPITAL STOCK Preferred Stock - Common Stock -

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Notes
Income Taxes	NOTE 5 INCOME TAXES The Company accounts for income taxes in accordance with ASC 740, “Income Taxes.” This standard requires the Company to provide a net deferred tax asset or liability equal to the expected future tax benefit or expense of temporary reporting differences between book and tax accounting and any available operating loss or tax credit carryforwards. The Company has available at December 31, 2015, net operating loss carryforwards of approximately $214,600 which may be applied against future taxable income which expire in 2026 through 2035. If there are substantial changes in the Company’s ownership, there may be an annual limitation on the amount of net operating loss carryforwards which can be utilized. The amount of and ultimate realization of the benefits from the deferred tax assets for income tax purposes is dependent, in part, upon the tax laws in effect, the Company’s future earnings, and other future events, the effects of which cannot be determined. Because of the uncertainty surrounding the realization of the deferred tax assets, the Company has established a valuation allowance equal to the net deferred tax assets and, therefore, no deferred tax assets have been recognized. The net deferred tax assets are approximately $29,100and 32,420 as of December 31, 2014 and 2015, respectively, with an offsetting valuation allowance of the same amount. The change in the valuation allowance for the year ended December 31, 2015 is approximately $3,320. The Company adopted the provisions of ASC 740, Accounting for Uncertainty in Income Taxes, on January 1, 2007. As result of the implementation of ASC 740, the Company recognized no increase in the liability for unrecognized tax benefits. The Company has no tax positions at December 31, 2014 and 2015 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the period ended December 31, 2014 and 2015, the Company recognized no interest and penalties. The Company had no accruals for interest and penalties at December 31, 2014 and 2015. The tax years 2014, 2013, 2012, 2011, 2010, 2009, 2008, and 2007 remain open to examination for federal income tax purposes and by the other major taxing jurisdictions to which the Company is subject.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Notes
Fair Value of Financial Instruments	NOTE 6 - Fair Value of Financial Instruments The Company’s financial instruments consist of cash and accounts payable. The carrying amount of cash and accounts payable approximates fair value because of the short-term nature of these items.

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2015
Notes
Loss Per Share	NOTE 7 - Loss per Share The following data shows the amounts used in computing loss per share for the periods presented: For the years ended December 31, 2014 For the years ended December 31, 2015 Loss available to common Stockholders (numerator) (28,012) (30,761) Weighted average number of common shares outstanding during the period used in loss per share (denominator) 18,113,750 18,113,750 Dilutive loss per share was not presented; however, there was no impact because the Company had no common equivalent shares for any of the periods presented that would affect the computation of diluted loss per share. Furthermore, as the Company has losses for the periods ended December 31, 2015 and 2014, the potentially dilutive shares are anti-dilutive and are thus not added into the loss per share calculation.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Notes
Subsequent Events	NOTE 8 - SUBSEQUENT EVENTS On March 2, 2016 the Company amended the maturity dates of several promissory notes extending the maturity dates to 2017. The Company has evaluated subsequent events from the balance sheet date to the date the financial statements were issued and has concluded that no additional recognized or nonrecognized subsequent events have occurred since December 31, 2015.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Organization, Consolidation and Presentation of Financial Statements Disclosure	Organization – In September 2002 the Company filed SEC Form SB-2 but immediately withdrew the filing in November of the same year due to health problems of the Company’s president. None of the Company’s securities were offered, or sold, under that registration.
Cash and Cash Equivalents	Cash and Cash Equivalents -
Use of Estimates, Policy	Accounting Estimates -
Dividends	Dividends -
Revenue Recognition	Revenue Recognition -
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Income Tax, Policy	Income Taxes The Company adopted ASC 740, Accounting for Uncertainty in Income Taxes on January 1, 2007. This interpretation requires recognition and measurement of uncertain tax positions using a "more-likely-than-not" approach, requiring the recognition and measurement of uncertain tax positions. The adoption of ASC 740 had no material impact on the Company's financial statements. (See Note 5 below).
Earnings (loss) Per Share	Earnings (Loss) Per Share The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents which would arise from the exercise of stock options and warrants outstanding using the treasury stock method and the average market price per share during the period. Common stock equivalents are not included in the diluted earnings per share calculation when their effect is antidilutive. The Company has not granted any stock options or warrants since inception.
Recently Enacted Accounting Standards	Recently Enacted Accounting Standards
Going Concern	NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, during the year ended December 31, 2015, the Company incurred a net loss of $30,761, had negative cash flows, and has no operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of common stock. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Accounts Payable and Accrued Liabilities	2016 $ 0 2017 26,200 $ 26,200

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Amounts used in computing loss per share	For the years ended December 31, 2014 For the years ended December 31, 2015 Loss available to common Stockholders (numerator) (28,012) (30,761) Weighted average number of common shares outstanding during the period used in loss per share (denominator) 18,113,750 18,113,750

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$ 30,761	$ 28,012

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended		36 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2011	Dec. 31, 2017	Dec. 31, 2016	Dec. 28, 2015	Nov. 20, 2015	Aug. 13, 2015	May. 05, 2015	Feb. 18, 2015	Oct. 15, 2014	Aug. 04, 2014	May. 08, 2014	Mar. 18, 2014	Nov. 07, 2013	Aug. 06, 2013	May. 09, 2013	Mar. 14, 2013	Feb. 04, 2013	Jul. 16, 2012	Mar. 05, 2012	Feb. 08, 2012
Details
Notes Payable, Related Parties	$ 53,150
Related Party Transaction, Rate	8.00%		8.00%
Accrued Interest Expense On Notes	$ 4,252	$ 4,252
Total Accrued Interest Expense On Notes	25,092	20,840
Minority Shareholder Loans						$ 400	$ 1,000	$ 2,500	$ 5,000	$ 8,000	$ 5,000	$ 2,650	$ 5,250	$ 5,000	$ 9,300	$ 12,000	$ 5,700	$ 2,850	$ 6,000	$ 1,000	$ 3,000	$ 3,500
Due to Other Related Parties, Noncurrent				$ 26,200	$ 0
Due to Related Parties, Noncurrent	26,200
Total outstanding minority loans	76,750
Interest Expense on Minority Shareholder Loans	5,678	4,334
Total accrued interest	$ 12,646	$ 6,968

Capital Stock (Details)

Capital Stock (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Preferred stock authorized	10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Common stock authorized	600,000,000	600,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001
Common stock outstanding	18,113,750	18,113,750	18,113,750

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Operating Loss Carryforwards	$ 214,600
Deferred Tax Assets, Net	32,420	$ 29,100
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 3,320

Loss Per Share (Details)

Loss Per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Net Loss	$ (30,761)	$ (28,012)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	18,113,750	18,113,750