Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 01, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | MADISON AVE HOLDINGS INC | ||
Entity Central Index Key | 1,284,196 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 500,000 | ||
Entity Public Float | $ 0 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and cash equivalents | $ 0 | $ 0 |
Prepaid expenses | 2,000 | 2,000 |
Total current assets | 2,000 | 2,000 |
Other assets | ||
Total assets | 2,000 | 2,000 |
Liabilities and Stockholders' Equity | ||
Accounts payable and accrued expenses | ||
Total current liabilities | ||
Other liabilities | ||
Total liabilities | ||
Commitments and contingencies | ||
Stockholders' equity: | ||
Common stock, $.001 par value; 10,000,000 shares authorized, 500,000 shares issued and outstanding | 500 | 500 |
Additional paid-in capital | 240,432 | 220,747 |
Accumulated deficit | (238,932) | (219,247) |
Total stockholders' equity | 2,000 | 2,000 |
Total liabilities and stockholders' equity | $ 2,000 | $ 2,000 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Common Stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 500,000 | 500,000 |
Common stock, shares outstanding (in shares) | 500,000 | 500,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues | $ 0 | $ 0 |
Expenses: | ||
General and administrative | 19,685 | 23,278 |
Total expenses | 19,685 | 23,278 |
Net loss | $ (19,685) | $ (23,278) |
Net loss per share, basic and diluted (in dollars per share) | $ (0.04) | $ (0.04) |
Weighted average number of common shares outstanding, basic and diluted (in shares) | 500,000 | 500,000 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity (Deficiency) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 500,000 | |||
Balance at Dec. 31, 2015 | $ 500 | $ 194,354 | $ (195,969) | $ (1,115) |
Company expenses paid by stockholders | 26,393 | 26,393 | ||
Net loss | (23,278) | (23,278) | ||
Balance (in shares) at Dec. 31, 2016 | 500,000 | |||
Balance at Dec. 31, 2016 | $ 500 | 220,747 | (219,247) | 2,000 |
Company expenses paid by stockholders | 19,685 | 19,685 | ||
Net loss | (19,685) | (19,685) | ||
Balance (in shares) at Dec. 31, 2017 | 500,000 | |||
Balance at Dec. 31, 2017 | $ 500 | $ 240,432 | $ (238,932) | $ 2,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (19,685) | $ (23,278) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | ||
Accounts payable and accrued expenses | (3,115) | |
Net cash used in operating activities | (19,685) | (26,393) |
Cash flows from investing activities | ||
Cash flows from financing activities: | ||
Proceeds from sale of common stock | ||
Capital contributions | 19,685 | 26,393 |
Net cash provided by financing activities | 19,685 | 26,393 |
Net increase in cash | ||
Cash and cash equivalents, beginning of period | 0 | |
Cash and cash equivalents, end of period | 0 | 0 |
Supplemental disclosures of cash flow information: | ||
Interest paid | ||
Income taxes paid |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1 – ORGANIZATION Madison Avenue Holdings Inc. (the “ Company”) was incorporated in the State of Delaware on February 27, 2004. no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES At December 31, 2017, no December 31 2017 2016, $19,685 $23,278, factors create uncertainty as to the Company’s ability to continue as a going concern. The Company is making efforts to acquire a business with assets and operations. However, there is no not Cash and cash equivalents – For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three Use of estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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. Fair value of financial instruments – The Company’s financial instruments consist of accounts payable and accrued expenses, which approximate fair value because of their short maturity. Income taxes – Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Net loss per common share – Basic and diluted net loss per common share has been calculated based upon the weighted average number of common shares outstanding. Concentration of credit risk – The Company has no one |
Note 3 - Stockholders' Equity
Note 3 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 3 – STOCKHOLDERS’ EQUITY In March 2004, 50 0,000 $.001 $500 March 2004 September 2005, $13,951. In August 2005, 475,000 third Second Stockholder”). The Company agreed under the related Stock Purchase Agreement that, in exchange for the First Stockholder’s efforts in procuring the Second Stockholder’s services to identify merger or acquisition targets for the Company; in the event that the Company successfully completes a merger or acquisition of one 95% 5% October 2005 June 2006, $7,744. In June 2006, l of 237,500 two third 118,750 September 2006 December 2017, $218,737. |
Note 4 - Income Taxes
Note 4 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 4 – INCOME TAXES The provision for (benefit from) income taxes differs from the amount computed by applying the statutory United States federal income tax rate of 34% Year ended December 31, 2017 Year ended December 31, 2017 Expected tax at 34% $ (6,693 ) $ (7,914 ) Remeasurement of deferred income tax assets from 34% to 21% (a) 31,061 - Increase (decrease) in valuation allowance (24,368 ) 7,914 Income tax provision $ - $ - Significant components of the Company's deferred income tax assets are as follows: December 31, 2017 December 31, 2016 Net operating loss carryforward $ 50,176 $ 74,544 Less valuation allowance (50,176 ) (74,544 ) Deferred income tax assets - net $ - $ - (a) As a result of the Tax Cuts and Jobs Act (Tax Legislation) enacted on December 22, 2017, 21% January 1, 2018. loss carryforward (and the valuation allowance thereon) by $31,061 $81,237 $50,176 December 31, 2017. Based on management ‘s present assessment, the Company has not not $50,176 $238,932 December 31, 2017 100% December 31, 2017. 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036 2037 $7,297, $12,450, $9,621, $20,306, $16,739, $15,325, $16,318, $18,203, $19,160, $20,410, $20,535, $19,605, $23,278 $19,685, Current tax laws limit the amount of loss available to be offset against future taxable income w hen a substantial change in ownership occurs. Therefore, the amount available to offset future taxable income may |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 5 – COMMITMENTS AND CONTINGENCIES All activities of the Company are being conducted by the officers and directors from either their homes or their business offices at no F- 10 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | At December 31, 2017, no December 31 2017 2016, $19,685 $23,278, factors create uncertainty as to the Company’s ability to continue as a going concern. The Company is making efforts to acquire a business with assets and operations. However, there is no not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents – For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three |
Use of Estimates, Policy [Policy Text Block] | Use of estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments – The Company’s financial instruments consist of accounts payable and accrued expenses, which approximate fair value because of their short maturity. |
Income Tax, Policy [Policy Text Block] | Income taxes – Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. |
Earnings Per Share, Policy [Policy Text Block] | Net loss per common share – Basic and diluted net loss per common share has been calculated based upon the weighted average number of common shares outstanding. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of credit risk – The Company has no one |
Note 4 - Income Taxes (Tables)
Note 4 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, 2017 Year ended December 31, 2017 Expected tax at 34% $ (6,693 ) $ (7,914 ) Remeasurement of deferred income tax assets from 34% to 21% (a) 31,061 - Increase (decrease) in valuation allowance (24,368 ) 7,914 Income tax provision $ - $ - |
Cumulative Schedule of Components of Income Tax Expense Benefit [Table Text Block] | December 31, 2017 December 31, 2016 Net operating loss carryforward $ 50,176 $ 74,544 Less valuation allowance (50,176 ) (74,544 ) Deferred income tax assets - net $ - $ - |
Note 2 - Summary of Significa14
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash and Cash Equivalents, at Carrying Value | $ 0 | $ 0 | |
Net Income (Loss) Attributable to Parent | $ (19,685) | $ (23,278) |
Note 3 - Stockholders' Equity (
Note 3 - Stockholders' Equity (Details Textual) | 1 Months Ended | 9 Months Ended | 19 Months Ended | 136 Months Ended | |||
Jun. 30, 2006shares | Aug. 31, 2005shares | Mar. 31, 2004USD ($)$ / sharesshares | Jun. 30, 2006USD ($) | Sep. 30, 2005USD ($) | Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016$ / shares | |
Stock Issued During Period, Shares, New Issues | shares | 500,000 | ||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Stock Issued During Period, Value, New Issues | $ | $ 500 | ||||||
First Stockholder [Member] | |||||||
Adjustments to Additional Paid in Capital, Capital Contributions | $ | $ 13,951 | ||||||
Percentage After Transaction | 5.00% | ||||||
Second Stockholder [Member] | |||||||
Adjustments to Additional Paid in Capital, Capital Contributions | $ | $ 7,744 | ||||||
Shares Sold by Shareholder Shares | shares | 475,000 | ||||||
Percentage Sold by Shareholder Shares | 95.00% | ||||||
Third and Fourth Stockholder [Member] | |||||||
Shares Sold by Shareholder Shares | shares | 237,500 | ||||||
Shares Acquired by New Stockholder | shares | 118,750 | ||||||
Second, Third and Fourth Stockholder [Member] | |||||||
Adjustments to Additional Paid in Capital, Capital Contributions | $ | $ 218,737 | ||||||
Number of Unrelated Parties | 2 | 2 |
Note 4 - Income Taxes (Details
Note 4 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 30, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, Percent | 34.00% | |||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 31,061 | |||
Deferred Tax Assets, Valuation Allowance | 50,176 | $ 81,237 | $ 74,544 | |
Deferred Tax Assets, Valuation Allowance | 50,176 | $ 81,237 | 74,544 | |
Deferred Tax Assets, Operating Loss Carryforwards | 50,176 | $ 74,544 | ||
Operating Loss Carryforwards | $ 238,932 | |||
Deferred Tax Assets Valuation Allowance Percentage | 100.00% | |||
Expires in 2024 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $ 7,297 | |||
Expires in 2025 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 12,450 | |||
Expires in 2026 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 9,621 | |||
Expires in 2027 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 20,306 | |||
Expires in 2028 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 16,739 | |||
Expires in 2029 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 15,325 | |||
Expires in 2030 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 16,318 | |||
Expires in 2031 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 18,203 | |||
Expires in 2032 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 19,160 | |||
Expires in 2033 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 20,410 | |||
Expires in 2034 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 20,535 | |||
Expires In 2035 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 19,605 | |||
Expires in 2036 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 23,278 | |||
Expires in 2037 [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $ 19,685 | |||
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent | 21.00% |
Note 4 - Income Taxes - Income
Note 4 - Income Taxes - Income Tax Provision (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Expected tax at 34% | $ (6,693) | $ (7,914) | |
Remeasurement of deferred income tax assets from 34% to 21% (a) | [1] | 31,061 | |
Increase (decrease) in valuation allowance | (24,368) | 7,914 | |
Income tax provision | $ 0 | $ 0 | |
[1] | As a result of the Tax Cuts and Jobs Act (Tax Legislation) enacted on December 22, 2017, the United Sates corporate income tax rate is 21% effective January 1, 2018. Accordingly, we have reduced our deferred income tax asset relating to our net operating loss carryforward (and the valuation allowance thereon) by $31,061 from $81,237 to $50,176 as of December 31, 2017. |
Note 4 - Income Taxes - Incom18
Note 4 - Income Taxes - Income Tax Provision (Details) (Parentheticals) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2016 | |
Income tax rate | 34.00% | |
Scenario, Forecast [Member] | ||
Income tax rate | 21.00% |
Note 4 - Income Taxes - Signifi
Note 4 - Income Taxes - Significant Components of Deferred Income Tax (Details) - USD ($) | Dec. 31, 2017 | Dec. 30, 2017 | Dec. 31, 2016 |
Net operating loss carryforward | $ 50,176 | $ 74,544 | |
Less valuation allowance | (50,176) | $ (81,237) | (74,544) |
Deferred income tax assets - net |