| Document and Entity Information - shares | 3 Months Ended | |
| Mar. 31, 2020 | May 14, 2020 | |
| Document And Entity Information | ||
| Entity Registrant Name | Yacht Finders, Inc. | |
| Entity Central Index Key | 0001311673 | |
| Document Type | 10-Q | |
| Document Period End Date | Mar. 31, 2020 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Current Reporting Status | Yes | |
| Entity Interactive Data Current | No | |
| Entity Filer Category | Non-accelerated Filer | |
| Entity Small Business Flag | true | |
| Entity Emerging Growth Company | false | |
| Entity Shell Company | true | |
| Entity Common Stock, Shares Outstanding | 5,199,000 | |
| Document Fiscal Period Focus | Q1 | |
| Document Fiscal Year Focus | 2020 |
| Balance Sheets - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
| ASSETS | ||
| TOTAL ASSETS | ||
| Current liabilities | ||
| Accrued liabilities | 20,592 | 17,892 |
| Accrued interest - related party | 260,169 | 249,720 |
| Note payable - related party | 703,189 | 690,963 |
| Total current liabilities and total liabilities | 983,949 | 958,575 |
| Stockholders' deficit | ||
| Preferred stock, par value $0.0001, 20,000,000 shares authorized, no shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively | ||
| Common stock, par value $0.0001, 80,000,000 shares authorized, 5,199,000 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively | 520 | 520 |
| Additional paid-in capital | 49,280 | 49,280 |
| Accumulated deficit | (1,033,749) | (1,008,375) |
| Total stockholders' deficit | (983,949) | (958,575) |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
| Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
| Statement of Financial Position [Abstract] | ||
| Preferred stock, par value | $ 0.0001 | $ 0.0001 |
| Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
| Preferred stock, shares issued | ||
| Preferred stock, shares outstanding | ||
| Common stock, par value | $ 0.0001 | $ 0.0001 |
| Common stock, shares authorized | 80,000,000 | 80,000,000 |
| Common stock, shares issued | 5,199,000 | 5,199,000 |
| Common stock, shares outstanding | 5,199,000 | 5,199,000 |
| Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
| Mar. 31, 2020 | Mar. 31, 2019 | |
| Income Statement [Abstract] | ||
| Revenues | ||
| General and administrative expenses | 14,926 | 14,276 |
| Loss from operations | 14,926 | 14,276 |
| Other expenses | ||
| Interest expense-related party | 10,448 | 9,342 |
| Net Loss before provision for income tax | (25,374) | (23,618) |
| Provision for income tax | ||
| Net Loss | $ (25,374) | $ (23,618) |
| Basic loss per share | $ 0 | $ 0 |
| Weighted average number of common shares outstanding - basic | 5,199,000 | 5,199,000 |
| Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
| Balance at Dec. 31, 2018 | $ 520 | $ 49,280 | $ (909,003) | $ (859,203) |
| Balance, shares at Dec. 31, 2018 | 5,199,000 | |||
| Net Loss | (23,618) | (23,618) | ||
| Balance at Mar. 31, 2019 | $ 520 | 49,280 | (932,621) | (882,821) |
| Balance, shares at Mar. 31, 2019 | 5,199,000 | |||
| Balance at Dec. 31, 2019 | $ 520 | 49,280 | (1,008,375) | (958,575) |
| Balance, shares at Dec. 31, 2019 | 5,199,000 | |||
| Net Loss | (25,374) | (25,374) | ||
| Balance at Mar. 31, 2020 | $ 520 | $ 49,280 | $ (1,033,749) | $ (983,949) |
| Balance, shares at Mar. 31, 2020 | 5,199,000 |
| Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
| Mar. 31, 2020 | Mar. 31, 2019 | |
| OPERATING ACTIVITIES | ||
| Net loss | $ (25,374) | $ (23,618) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Increase in interest payable- related party | 10,448 | 9,342 |
| Changes in operating assets and liabilities: | ||
| Increase (decrease) in accounts payable | 2,700 | (8,735) |
| Net cash used in operating activities | (12,226) | (23,011) |
| FINANCING ACTIVITIES | ||
| Proceeds from notes payable - related party | 12,226 | 23,011 |
| Net cash provided by financing activities | 12,226 | 23,011 |
| Net increase (decrease) in cash | ||
| Cash at beginning of period | ||
| Cash at end of period | ||
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
| Interest paid | ||
| Income taxes paid | ||
| Organization and Basis of Presentation | 3 Months Ended |
| Mar. 31, 2020 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Organization and Basis of Presentation | (1) ORGANIZATION AND BASIS OF PRESENTATION Yacht Finders, Inc. (the “Company”) was incorporated in Delaware on November 15, 2000 as Sneeoosh Corporation. On October 20, 2000 the company filed an amended Certificate of Incorporation to change the name to Snohomish Corporation. The Company did not conduct any operations until April 15, 2003, the date the Company filed a subsequent amendment to change the name to Yacht Finders, Inc. Yacht Finder’s Inc. business plan was to create an online database for public buyers and yacht brokers to interface immediately with each other while capturing the benefits of targeting a larger market. On November 6, 2007, the Company discontinued its prior business and changed its business plan. The Company’s business plan now consists of exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction. The accompanying un-audited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation, have been included. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. For further information, refer to the financial statements and footnotes thereto included in the Form 10-K for the year ended December 31, 2019. |
| Summary of Significant Accounting Policies | 3 Months Ended |
| Mar. 31, 2020 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES USE OF ESTIMATES The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. LOSS PER COMMON SHARE The Company reports loss per share using a dual presentation of basic and diluted loss per share. Basic loss per share excludes the impact of common stock equivalents and is determined by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities and other contracts to issue common stock were exercised or converted into common stock. For the three months ended March 31, 2020 and 2019, there were no variances between the basic and diluted loss per share as there were no potentially dilutive securities outstanding. GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated a net loss of $25,374 for the three-month period ended March 31, 2020 and has a stockholders’ deficit of $1,033,749 as of March 31, 2020. These conditions, among others, raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on working capital advances being provided by the Company’s majority shareholder for its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. There is no assurance that the working capital advances will continue in the future nor that Company will be successful in raising additional funds through other sources. The Company’s plan to alleviate the going concern issue is to continue to seek out a merger partner which has the financial resources to address the going concern question. In December 2019, an outbreak of a novel strain of coronavirus (COVID-19) originated in Wuhan, China, and has since spread to a number of other countries, including the United States. On March 11, 2020, the World Health Organization characterized COVID-19 as a pandemic. In addition, as of the time of the filing of this Quarterly Report on Form 10-Q, several states in the United States and elsewhere have declared states of emergency, and several countries around the world, including the United States, have taken steps to restrict travel. While the Company presently has no ongoing operations or employees, this situation could limit the market for a merger partner for a strategic business combination. Any of these uncertainties could have a material adverse effect on the business, financial condition or results of operations. In addition, a catastrophic event that results in the destruction or disruption of the Company’s data centers or its critical business or information technology systems would severely affect the ability to conduct normal business operations and, as a result, the operating results would be adversely affected. NEW ACCOUNTING PRONOUNCEMENTS From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented. |
| Related Party Transactions | 3 Months Ended |
| Mar. 31, 2020 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | (3) RELATED PARTY TRANSACTIONS At March 31, 2020, the Company had loans and notes outstanding from a shareholder in the aggregate amount of $703,189, which bears interest at 6% per annum and represents amounts loaned to the Company to pay the Company’s operating expenses. On December 31, 2019, the Payee under the Note and the Company agreed to extend the maturity date of the Note to December 31, 2020. The Company recorded interest on the Note for the three-month period ended March 31, 2020 of $10,448. As of March 31, 2020, the Company had recorded an aggregate of $260,169 interest expense on the Note, none of which has been paid Pursuant to a Services Agreement with Fountainhead Capital Management Limited (“FHM”), a shareholder who holds approximately 83.68% of the Company’s issued and outstanding common stock, the Company is obligated to pay FHM a quarterly fee in the amount of $10,000, in cash or in kind, on the first day of each calendar quarter commencing October 1, 2007. The Services Agreement currently runs through December 31, 2020. Total fees paid to FHM for the three-month period ended March 31, 2020 was $10,000. |
| Subsequent Events | 3 Months Ended |
| Mar. 31, 2020 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | (4) SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financial statements were available to be issued. Based on this evaluation, the Company has identified the following reportable subsequent event other than those disclosed elsewhere in these financials. |
| Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
| Mar. 31, 2020 | |
| Accounting Policies [Abstract] | |
| Use of Estimates | USE OF ESTIMATES The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
| Loss Per Common Share | LOSS PER COMMON SHARE The Company reports loss per share using a dual presentation of basic and diluted loss per share. Basic loss per share excludes the impact of common stock equivalents and is determined by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities and other contracts to issue common stock were exercised or converted into common stock. For the three months ended March 31, 2020 and 2019, there were no variances between the basic and diluted loss per share as there were no potentially dilutive securities outstanding. |
| Going Concern | GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated a net loss of $25,374 for the three-month period ended March 31, 2020 and has a stockholders’ deficit of $1,033,749 as of March 31, 2020. These conditions, among others, raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on working capital advances being provided by the Company’s majority shareholder for its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. There is no assurance that the working capital advances will continue in the future nor that Company will be successful in raising additional funds through other sources. The Company’s plan to alleviate the going concern issue is to continue to seek out a merger partner which has the financial resources to address the going concern question. In December 2019, an outbreak of a novel strain of coronavirus (COVID-19) originated in Wuhan, China, and has since spread to a number of other countries, including the United States. On March 11, 2020, the World Health Organization characterized COVID-19 as a pandemic. In addition, as of the time of the filing of this Quarterly Report on Form 10-Q, several states in the United States and elsewhere have declared states of emergency, and several countries around the world, including the United States, have taken steps to restrict travel. While the Company presently has no ongoing operations or employees, this situation could limit the market for a merger partner for a strategic business combination. Any of these uncertainties could have a material adverse effect on the business, financial condition or results of operations. In addition, a catastrophic event that results in the destruction or disruption of the Company’s data centers or its critical business or information technology systems would severely affect the ability to conduct normal business operations and, as a result, the operating results would be adversely affected. |
| New Accounting Pronouncements | NEW ACCOUNTING PRONOUNCEMENTS From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented. |
| Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | ||
| Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
| Accounting Policies [Abstract] | |||
| Net loss | $ (25,374) | $ (23,618) | |
| Stockholders defecit | $ (1,033,749) | $ (1,008,375) | |
| Related Party Transactions (Details Narrative) - USD ($) | Oct. 01, 2007 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 |
| Loans and notes outstanding from a shareholder | $ 703,189 | $ 690,963 | ||
| Interest rate on loans and notes outstanding | 6.00% | |||
| Maturity date | Dec. 31, 2020 | |||
| Interest expense-related party | $ 10,448 | $ 9,342 | ||
| Interest - related party | 260,169 | $ 249,720 | ||
| Total fees paid | $ 10,000 | |||
| FHM [Member] | ||||
| Ownership percentage held by shareholder | 83.68% | |||
| Total fees paid | $ 10,000 |
