TransAtlantic Capital (TACI) 10-Q 25 Feb 16 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Feb. 09, 2016
Document And Entity Information
Entity Registrant Name	TRANSATLANTIC CAPITAL INC.
Entity Central Index Key	1,228,386
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		21,365,622
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Total Current Assets
TOTAL ASSETS	$ 0	$ 0
CURRENT LIABILITIES
Accounts payable	74,200	74,813
Advances - related parties	$ 79,223	69,155
Convertible promissory note		1,000
Total Current Liabilities	$ 153,423	144,968
TOTAL LIABILITIES	$ 153,423	$ 144,968
STOCKHOLDERS' DEFICIT
Preferred Stock: 50,000,000 shares authorized par value $0.001 per share; none issued and outstanding
Common Stock: 700,000,000 shares authorized par value $0.001 per share; issued and outstanding, 21,365,622 shares at June 30, 2015 and 20,365,622 shares at December 31, 2014	$ 21,366	$ 20,366
Additional paid-in-capital	5,610,968	5,610,968
Deficit accumulated	(5,785,757)	(5,776,302)
TOTAL STOCKHOLDERS' DEFICIT	(153,423)	(144,968)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$ 0	$ 0

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock; par value	$ 0.001	$ 0.001
Preferred stock; shares authorized	50,000,000	50,000,000
Preferred stock; shares issued
Preferred stock; shares outstanding
Common stock; par value	$ 0.001	$ 0.001
Common stock; shares authorized	700,000,000	700,000,000
Common stock; shares issued	21,365,622	20,365,622
Common stock; shares outstanding	21,365,622	20,365,622

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating Expenses
General and administrative expenses	$ (5,971)	$ (13,668)	$ (9,455)	$ (38,348)
Total Operating Expenses	(5,971)	(13,668)	(9,455)	(38,348)
Operating Loss	$ (5,971)	(13,668)	$ (9,455)	(38,348)
Interest expenses		(964)		(2,602)
Expenses for benefit conversion feature		(81,880)		(109,174)
Net Income (Loss)	$ (5,971)	$ (96,512)	$ (9,455)	$ (150,124)
Basic and diluted net loss per common share	$ 0	$ (0.29)	$ 0	$ (0.48)
Weighted average shares used in computing basic and diluted net loss per share	21,365,622	327,307	21,006,506	313,647

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)	$ (5,971)	$ (96,512)	$ (9,455)	$ (150,124)
Adjustments to reconcile net loss to net cash used by operating activities:
Expenses for benefit conversion feature		$ 81,880		109,174
Interest expense				2,602
Changes in operating assets and liabilities:
Accounts payable and Accounts payable - related parties			$ (613)	$ 38,348
Net cash used in operating activities			(10,068)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from related party advances			10,068
Net Cash Provided by Financing Activities			$ 10,068
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Cash and cash equivalents at year end
Supplemental disclosure of cash flow information
Interest paid
Income taxes paid
Supplemental disclosure of non cash financing activity
Debt converted into stocks			$ 1,000	$ 9,868

Organization

Organization	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	NOTE 1 - ORGANIZATION Organization and Line of Business Transatlantic Capital Inc. was incorporated on May 22, 2002, under the laws of the State of Nevada, as Medina International Corp. On May 4, 2006, the Company changed its name to ACRO Inc., and again on May 24, 2014 to Transatlantic Capital Inc. The Company was originally an oil and gas consulting company in Canada and the United States that later shifted operations to Israel to engage in development of products for the detection of military and commercial explosives for the homeland security market. On May 24, 2014 a change of control took place and the Company changed its business model to develop and manage real estate. As a result, the Company’s address was moved from Israel to Georgia. The Company’s common stock was first listed on the Over-the-Counter Bulletin Board, or “OTC Bulletin Board” in April of 2003. It now trades on the OTCQB under the ticker symbol “TACI”.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements of Transatlantic Capital, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the period ended December 31, 2014 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements as reported in the annual report on Form 10-K have been omitted. Going Concern In conformity with generally accepted accounting principles, it has been assumed that the Company will continue as a going concern. The Company, however, continues to incur losses from operations ($9,455 in the six months ended June 30, 2015) and has a negative working capital ($153,423 in the six months ended June 30, 2015). This raises substantial doubt about the Company's ability to continue as a going concern. Management intends to raise financing through public equity or other means and interests that it deems necessary. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 3 – RELATED PARTY TRANSACTIONS In May of 2014, the Company received advances from a stockholder, IMIR Management LLC, as a loan with no interest and due on demand in the amount of $600 for filings with the State of Nevada. Advances due to the stockholder as of the six months ended June 30, 2015 were $600. On June 1, 2014, the Company executed a funding agreement with NFA Securities L3C, a stockholder, to fund ongoing company operations with a loan of up to $150,000. During the six months ended June 30, 2015, NFA Securities L3C loaned the Company $10,068 under the funding agreement resulting in a balance due of $78,623. The advances had no interest and were due on demand. The total related parties balance as of June 30, 2015 and December 31, 2014 are $79,223 and $69,155, respectively.

Shareholders Deficiency

Shareholders Deficiency	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Shareholders Deficiency	NOTE 4 – SHAREHOLDERS’ DEFICIT On March 6, 2015, 1,000,000 shares of common stock were issued for the settlement of $1,000 convertible debt.

Summary of Significant Accoun10

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim financial statements of Transatlantic Capital, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the period ended December 31, 2014 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements as reported in the annual report on Form 10-K have been omitted.
Going Concern	Going Concern In conformity with generally accepted accounting principles, it has been assumed that the Company will continue as a going concern. The Company, however, continues to incur losses from operations ($9,455 in the six months ended June 30, 2015) and has a negative working capital ($153,423 in the six months ended June 30, 2015). This raises substantial doubt about the Company's ability to continue as a going concern. Management intends to raise financing through public equity or other means and interests that it deems necessary. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

Summary of Significant Accoun11

Summary of Significant Accounting Policies (Details Narrative)	6 Months Ended
	Jun. 30, 2015USD ($)
Accounting Policies [Abstract]
Losses from operations	$ (9,455)
Net Capital Deficiency	$ (153,423)

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Jun. 01, 2014	Jun. 30, 2015	Dec. 31, 2014	May. 30, 2014
Advances due to related parties		$ 79,223	$ 69,155
IMIR Management LLC [Member]
Loan from stockholder				$ 600
Advances due to related parties		600
NFA Securities L3C [Member]
Funding available	$ 150,000
Loan from stockholder		10,068
Advances due to related parties		$ 78,623

Shareholders Deficiency (Detail

Shareholders Deficiency (Details Narrative)	Mar. 06, 2015USD ($)shares
Equity [Abstract]
Debt converted to common stock, value | $	$ 1,000
Debt converted to common stock,shares | shares	1,000,000