FBEC Worldwide (FBEC) 10-Q/A 22 Apr 14 2013 Q3 Quarterly report (amended) Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 15, 2013
Document and Entity Information:	'	'
Entity Registrant Name	'Frontier Beverage Company, Inc	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'true	'
Amendment Description	'TRUE	'
Entity Central Index Key	'0001311735	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	231,781,000
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'Yes	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets:	'	'
Cash	$0	$0
Total Assets	0	0
Current Liabilities	'	'
Notes and loans payable due to related party	394,264	394,264
Accounts payable	26,643	64,257
Accrued interest-related parties	80,487	64,704
Other current liabilities	18,750	0
Total current liabilities	520,144	523,225
Commitments and Contingencies	'	'
Stockholders' Deficit:	'	'
Preferred stock - par value $0.001; 100,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock - par value $0.001; 500,000,000 shares authorized;18,781,000 shares issued and outstanding	18,781	18,781
Additional paid-in capital	2,175,123	1,700,262
Accumulated deficit	-2,714,048	-2,242,268
Total stockholders' deficit	-520,144	-523,225
Total liabilities and stockholders' deficit	$0	$0

CONDENSED_BALANCE_SHEETS_PAREN

CONDENSED BALANCE SHEETS PARENTHETICALS (USD $)	Sep. 30, 2013	Dec. 31, 2012
Parentheticals	'	'
Preferred Stock, par value	$0.00	$0.00
Preferred Stock, shares authorized	100,000,000	100,000,000
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	500,000,000	500,000,000
Common Stock, shares issued	18,781,000	18,781,000
Common Stock, shares outstanding	18,781,000	18,781,000

CONDENSED_STATEMENTS_OF_OPERAT

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'	'	'
Revenues, net	$0	$0	$0	$71,252
Cost of goods sold	0	0	0	5,809
Gross profit	0	0	0	65,443
Selling, general and administrative	26,490	53,937	64,808	187,853
Total operating expenses	26,490	53,937	64,808	187,853
Loss from operations	-26,490	-53,937	-64,808	-122,410
Amortization of debt discount	-390,339	0	-390,339	0
Interest expense	-153	-8,597	-16,633	-22,634
Total other expense	-390,492	-8,597	-406,972	-22,634
Loss before taxes	-416,982	-62,534	-471,780	-145,044
Provision for income taxes	0	0	0	0
Net loss	($416,982)	($62,534)	($471,780)	($145,044)
Loss per share, basic and diluted	($0.02)	$0	($0.03)	($0.01)
Weighted average number of shares outstanding basic and diluted	18,781,000	18,781,000	18,781,000	18,781,000

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS OPERATING ACTIVITIES	'	'
Net Loss	($471,780)	($145,044)
Allowance for doubtful accounts	0	-3,234
Amortization of debt discount	390,339	0
Impairment of inventory	0	90,082
Changes in operating assets and liabilities:	'	'
Accounts receivable	0	4,045
Inventory	0	4,519
Prepaid expenses and other current assets	0	9,146
Accounts payable	-37,613	-6,082
Accrued expenses and other current liabilities	15,783	22,634
Net cash flows used in operating activities	-103,271	-23,934
CASH FLOWS FROM INVESTING ACTIVITIES	0	0
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds from related parties	0	38,784
Repayment of related party debt	0	-28,605
Net cash flows provided by financing activities	103,271	23,679
Increase (Decrease) in cash	0	-255
Cash, beginning of period	0	255
Cash, end of period	0	0
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:	'	'
Interest paid	0	0
Income taxes paid	$0	$0

BASIS_OF_PRESENTATION_AND_RECE

BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Sep. 30, 2013
BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	'
BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	'
	NOTE 1 – BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
	Interim Financial Reporting
	While the information presented in the accompanying interim financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in accordance with generally accepted accounting principles in the United States of America ("GAAP").  These interim financial statements follow the same accounting policies and methods of application as used in the December 31, 2012 audited financial statements of Frontier Beverage Company, Inc. (the “Company”).  All adjustments are of a normal, recurring nature.  Interim financial statements and the notes thereto do not contain all of the disclosures normally found in year-end audited financial statements and these Notes to Financial Statements are abbreviated and contain only certain disclosures related to the nine month periods ended September 30, 2013 and 2012.  It is suggested that these interim financial statements be read in conjunction with our audited financial statements and related notes for the year ended December 31, 2012 included in our Form 10-K filed with the Securities Exchange Commission on April 15, 2013.  Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that can be expected for the year ending December 31, 2013.
	Basis of presentation and going concern uncertainty
	The accompanying financial statements have been prepared in conformity with GAAP, which contemplates continuation of the Company as a going concern, which is dependent upon the Company's ability to establish itself as a profitable business.  At September 30, 2013, the Company has an accumulated deficit of $2,714,048, and for the nine months ended September 30, 2013, incurred net losses of $471,780.  The Company’s ability to continue in business is dependent upon obtaining sufficient financing or attaining profitable operations.  However, there can be no assurance that management will be successful in obtaining additional funding or in attaining profitable operations, and therefore, these matters raise substantial doubt about the Company's ability to continue as a going concern.  These financial statements do not include any adjustments that might result from the outcome of these uncertainties, nor do they include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation.
	Change of Control
	On July 1, 2013, an unrelated third party acquired an aggregate of 15,978,000 shares of Common Stock of the Company constituting approximately 85% of the Company’s issued and outstanding Common Stock.
	Recent Accounting Pronouncements
	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its results of operations, financial position or cash flow.

CAPITAL_STOCK

CAPITAL STOCK	3 Months Ended
	Sep. 30, 2013
CAPITAL STOCK	'
CAPITAL STOCK	'
	NOTE 2 – CAPITAL STOCK
	The Company is authorized to issue up to 500,000,000 shares of common stock at $0.001 par value per share ("Common Stock").  As of September 30, 2013, the Company had 18,781,000 shares of Common Stock issued and outstanding.  Holders of Common Stock are entitled to one vote per share and are to receive dividends or other distributions when and if declared by the Company's Board of Directors.  None of our Common Stock is subject to outstanding options or rights to purchase, nor do we have any issued and outstanding securities that are convertible into our Common Stock.  We have not agreed to register any of our stock.  We do not currently have in effect an employee stock option plan. We received $84,521 to repay debts from the change of control transaction in July 2013. The agreement required all accounts payable to be paid in full from the proceeds of the third party agreement. No stock or debt was to be recorded and the amount received has been represented and included as paid in capital on the balance sheet.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Sep. 30, 2013
INCOME TAXES	'
INCOME TAXES	'
	NOTE 3 – INCOME TAXES
	Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company does not expect to pay any significant federal or state income tax for 2013 as a result of the losses incurred during the nine months ended September 30 2013.  Accounting standards require the consideration of a valuation allowance for deferred tax assets if it is "more likely than not" that some component or all of the benefits of deferred tax assets will not be realized.  As of September 30, 2013 and 2012, the Company maintained a full valuation allowance for all deferred tax assets. Based on these requirements, no provision or benefit for income taxes has been recorded.  There were no recorded unrecognized tax benefits at the end of the reporting period.

RELATED_PARTIES

RELATED PARTIES	3 Months Ended
	Sep. 30, 2013
RELATED PARTIES	'
RELATED PARTIES	'
	NOTE 4 – RELATED PARTIES
	During the nine months ended September 30, 2013, the Company received no funds from HBB, LLC (“HBB”) and Baked World, LLC (“Baked World”), both Tennessee limited liability companies beneficially owned and controlled by Terry Harris, the Company’s President, Treasurer, and sole director and Timothy Barham, a former officer and director of the Company (who resigned his positions effective November 15, 2011); however, during the period from January 2010 through December 2012, HBB provided cash and made payments on the Company’s behalf totaling $371,399.  During the period from September 2011 through December 2012, Baked World provided cash and made payments on the Company’s behalf totaling $18,941.  The Company agreed to pay interest on the loans at eight percent (8%) per annum. The loans are due on demand and remain outstanding at September 30, 2013.
	In July  2013, Company assigned and modified the terms of its related party loans of $390,339 and amended to allow for the conversion of principal and accrued interest into shares of common stock of the Company at a conversion price of $0.005 per share.
	The Company analyzed the convertible debts for a beneficial conversion feature under ASC 470-20 on the date of the notes and determined that a beneficial conversion feature exists. The intrinsic value of the beneficial conversion feature was determined to be $390,339 and was recorded as debt discount. During the three and nine months ended September 30, 2013, debt discount of $390,339 was amortized on account of convertible notes were due and payable immediately.
	In October 2012, Mr. Harris advanced the Company $3,000.  The Company agreed to pay interest on the advance at nine percent (6%) per annum.  The $3,000 remained outstanding at September 30, 2013.
	As of June 30, 2013, the Company has recorded approximately $81,000 in accrued interest to these related parties. Beginning July 1, 2013 due to a change in control, all parties have agreed to cease accruing interest.
	During the nine months ended September 30, 2013 and 2012, the Company was provided office space, the use of office equipment and accounting personnel by HBB.  HBB charged the Company $500 per month during the period in 2013 and $1,500 per month during the period in 2012 which amounts are included in operating expense and recorded as capital contribution on the accompanying condensed financial statements. During the quarter ended September 30, 2013, the Company no longer utilized this office space.

RESTATEMENT

RESTATEMENT	9 Months Ended
	Sep. 30, 2013
RESTATEMENT	'
RESTATEMENT	'
	NOTE 5 – RESTATEMENT
	The Company’s financial statements have been restated as of September 30, 2013, for the three and nine months ended September 30, 2013. Specifically, in July  2013, Company assigned and modified the terms of its related party loans of $390,339 and amended to allow for the conversion of principal and accrued interest into shares of common stock of the Company at a conversion price of $0.005 per share. The errors related to accounting for beneficial conversion feature of convertible debt. These corrections pertain to the recognition of the beneficial conversion feature and the resulting impact on additional paid-in capital and interest expense.
	The following tables summarize the effects of the adjustments on the consolidated balance sheet items, statements of operations and statements of cash flows for the period ended September 30, 2013.
	Accordingly, the Company’s balance sheet at September 30, 2013 and for the three and nine months ended September 30, 2013, the statement of operation has been restated herein. There was no effect on cash flow on net cash used in operating activities, investing activities and financing activities. The effect of correcting this error in the Company’s financial statements at September 30, 2013 and for the three and nine months ended September 30, 2013 are shown in the table as follows:
	Balance Sheet data		30-Sep-13
			(unaudited)
			As previously		Adjustments			Restated
			reported		to Restate
	Total Assets		$	-	$	-		$	-
	Total Liabilities		$	520,144	$	-		$	520,144
	Stockholders’ Deficit:
	Preferred stock – par value $0.001; 100,000,000			-		-			-
	shares authorized; no shares issued and outstanding
	Common stock - par value $0.001; 500,000,000			18,781		-			18,781
	shares authorized; 18,781,000 shares issued and outstanding
	Additional paid-in capital			1,784,784		390,339	(a)		2,175,123
	Accumulated deficit			-2,323,709		-390,339	(a)		-2,714,048
	Total stockholders’ deficit			-520,144		-			-520,144
	Total liabilities and stockholders’ deficit		$	-	$	-		$	-
	(a)	To properly record the immediate amortization of beneficial conversion feature of $390,339 since note was due and immediately payable.
	Statement of operations		For the Three Months Ended							For the Nine Months Ended
			30-Sep-13							30-Sep-13
			(Unaudited)							(Unaudited)
			As previously		Adjustments			Restated		As previously		Adjustments			Restated
			reported		to Restate					reported		to Restate
	Loss from operations		$	26,490	$	-		$	26,490	$	64,808	$	-		$	64,808
	Other expenses			153		390,339	(a)		390,492		16,633		390,339	(a)		406,972
	Net loss		$	26,643	$	390,339	(a)	$	416,982	$	81,441	$	390,339	(a)	$	471,780
	(a)   To properly record the immediate amortization of beneficial conversion feature of $390,339 since note was due and immediately payable.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Sep. 30, 2013
SUBSEQUENT EVENTS	'
SUBSEQUENT EVENTS	'
	NOTE 6 – SUBSEQUENT EVENTS
	On October 9, 2013, the Company entered into a Stock Purchase Agreement to acquire 22 Social Club, Inc. paying 140,000,000 restricted common shares. See 8k filed October 15, 2013
	The previous Board of Directors and all Officers resigned but before doing so appointed Christopher Bailey as a new director who was seated and then seated two additional members. All new directors and officers are disclosed below:
	Christopher Bailey, Chairman and President
	Mr. Bailey has spent the past 10 years focused on digital marketing of start-up companies and non-profits. He has developed several sales portals to social networking and tech companies. He also developed web sites and electronic support services for small and large public companies.
	Billy Jon Coogan, Director
	Mr. Coogan has spent his adult life in the entertainment business. He began playing guitar at age 13 and piano by age 17 where he began his song writing endeavors. He has played with several bands and now collaborates with various producers, musicians and artists.
	Mike Jamison, Director
	Mr. Jamison has spent 30 years in the entertainment business beginning with  being on air talent for eight radio stations starting at the tender age of 15. In recent years he has been the founder and President of Lexium Entertainment & Talent Agency in Atlanta, GA. Lexium is a full service entertainment and booking agency while also providing management services to various musical artists.
	On October 9, 2013, four debtholders converted $150,000 of debt for 30,000,000 per settlement agreements signed prior to the last change of control.
	On November 6, 2013, the Company adopted the 2013 Professional/Consultant Stock Compensation Plan authorizing 21,000,000 common shares to be utilized for the payment of sevice contracts. An S-8 Registration Statement was filed on the same day.
	On November 6, 2013, the Company issued 12,000,000 restricted common shares for payroll to the officers and directors. Two consultant were issued 10,000,000 restricted common share.

Accounting_Policies_Policies

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies (Policies):	'
Interim Financial Reporting	'
	Interim Financial Reporting
	While the information presented in the accompanying interim financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in accordance with generally accepted accounting principles in the United States of America ("GAAP").  These interim financial statements follow the same accounting policies and methods of application as used in the December 31, 2012 audited financial statements of Frontier Beverage Company, Inc. (the “Company”).  All adjustments are of a normal, recurring nature.  Interim financial statements and the notes thereto do not contain all of the disclosures normally found in year-end audited financial statements and these Notes to Financial Statements are abbreviated and contain only certain disclosures related to the nine month periods ended September 30, 2013 and 2012.  It is suggested that these interim financial statements be read in conjunction with our audited financial statements and related notes for the year ended December 31, 2012 included in our Form 10-K filed with the Securities Exchange Commission on April 15, 2013.  Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that can be expected for the year ending December 31, 2013.
Basis of presentation and going concern uncertainty	'
	Basis of presentation and going concern uncertainty
	The accompanying financial statements have been prepared in conformity with GAAP, which contemplates continuation of the Company as a going concern, which is dependent upon the Company's ability to establish itself as a profitable business.  At September 30, 2013, the Company has an accumulated deficit of $2,714,048, and for the nine months ended September 30, 2013, incurred net losses of $471,780.  The Company’s ability to continue in business is dependent upon obtaining sufficient financing or attaining profitable operations.  However, there can be no assurance that management will be successful in obtaining additional funding or in attaining profitable operations, and therefore, these matters raise substantial doubt about the Company's ability to continue as a going concern.  These financial statements do not include any adjustments that might result from the outcome of these uncertainties, nor do they include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation.
Change of Control	'
	Change of Control
	On July 1, 2013, an unrelated third party acquired an aggregate of 15,978,000 shares of Common Stock of the Company constituting approximately 85% of the Company’s issued and outstanding Common Stock.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its results of operations, financial position or cash flow.

Restatement_of_financial_state

Restatement of financial statements (Tables)	9 Months Ended
	Sep. 30, 2013
Restatement of financial statements	'
Restatement of financial statements	'
	Balance Sheet data		30-Sep-13
			(unaudited)
			As previously		Adjustments			Restated
			reported		to Restate
	Total Assets		$	-	$	-		$	-
	Total Liabilities		$	520,144	$	-		$	520,144
	Stockholders’ Deficit:
	Preferred stock – par value $0.001; 100,000,000			-		-			-
	shares authorized; no shares issued and outstanding
	Common stock - par value $0.001; 500,000,000			18,781		-			18,781
	shares authorized; 18,781,000 shares issued and outstanding
	Additional paid-in capital			1,784,784		390,339	(a)		2,175,123
	Accumulated deficit			-2,323,709		-390,339	(a)		-2,714,048
	Total stockholders’ deficit			-520,144		-			-520,144
	Total liabilities and stockholders’ deficit		$	-	$	-		$	-
	(a)	To properly record the immediate amortization of beneficial conversion feature of $390,339 since note was due and immediately payable.
	Statement of operations		For the Three Months Ended							For the Nine Months Ended
			30-Sep-13							30-Sep-13
			(Unaudited)							(Unaudited)
			As previously		Adjustments			Restated		As previously		Adjustments			Restated
			reported		to Restate					reported		to Restate
	Loss from operations		$	26,490	$	-		$	26,490	$	64,808	$	-		$	64,808
	Other expenses			153		390,339	(a)		390,492		16,633		390,339	(a)		406,972
	Net loss		$	26,643	$	390,339	(a)	$	416,982	$	81,441	$	390,339	(a)	$	471,780

Basis_of_presentation_and_goin

Basis of presentation and going concern uncertainty (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Basis of presentation and going concern uncertainty:	'
Accmulated Defecit	$2,714,048
Net Loss	$471,780

Change_of_Control_Details

Change of Control (Details)	Sep. 30, 2013
Change of Control:	'
Unrelated third party acquired shares of Common Stock	15,978,000
Common Stock of the Company constituting approximately (percent)	85.00%

CAPITAL_STOCK_TRANSACTIONS_Det

CAPITAL STOCK TRANSACTIONS (Details) (USD $)	Sep. 30, 2013
CAPITAL STOCK TRANSACTIONS	'
Authorized shares of Common Stock	500,000,000
Common stock at par value per share	$0.00
Shares of Common Stock issued and outstanding	18,781,000
Received to repay debts from the change of control transaction	$84,521

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	1 Months Ended		3 Months Ended	9 Months Ended		15 Months Ended	36 Months Ended
	Jul. 31, 2013	Oct. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Dec. 31, 2012	Jun. 30, 2013
Related Party Transactions:	'	'	'	'	'	'	'	'
Loan advance from related parties HBB, LLC	'	'	'	'	'	'	$371,399	'
Loan advance from related parties Baked World, LLC	'	'	'	'	'	18,941	'	'
Interest rate on loan advance	'	6.00%	'	'	'	8.00%	8.00%	'
Loan advance from related party Harris	'	3,000	'	'	'	'	'	'
Amount outstanding as on date	'	'	'	3,000	'	'	'	'
Company assigned and modified the terms of related party loans	390,339	'	'	'	'	'	'	'
Shares of common stock at a conversion price per share	$0.01	'	'	'	'	'	'	'
Intrinsic value of the beneficial conversion feature recorded as debt discount	'	'	'	390,339	'	'	'	'
Debt discount amortized	'	'	390,339	'	'	'	'	'
Accrued interest related parties	'	'	'	'	'	'	'	81,000
HBB charged the Company per month	'	'	'	$500	$1,500	'	'	'

SUBSEQUENT_EVENTS_TRANSACTIONS

SUBSEQUENT EVENTS TRANSACTIONS (Details) (USD $)	Nov. 06, 2013	Oct. 09, 2013
SUBSEQUENT EVENTS TRANSACTIONS	'	'
Stock Purchase Agreement to acquire restricted common shares	'	140,000,000
Debtholders converted debt	'	$150,000
Debtholders converted debt per settlement agreements	'	30,000,000
Professional/Consultant Stock Compensation Plan authorizing common shares	21,000,000	21,000,000
Issued restricted common shares to the officers and directors	12,000,000	12,000,000
Issued restricted common shares to two consultants	10,000,000	10,000,000