Cornerworld (CWRLD) 10-Q 20 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 12, 2016
Document And Entity Information
Entity Registrant Name	Cornerworld Corp
Entity Central Index Key	1,338,242
Document Type	10-Q
Trading Symbol	CWRL
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,655,338
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 4,074	$ 1,268
Accounts receivable, net	3,376	1,265
Prepaid expenses and other current assets	$ 10,769	9,969
Assets of discontinued operations		31,555
TOTAL ASSETS	$ 18,219	44,057
Current liabilities:
Accounts payable	176,577	145,249
Accrued expenses	341,815	338,936
Notes payable related parties	338,958	338,958
Deferred revenue	$ 1,563	499
Liabilities of discontinued operations		9,378
Total liabilities	$ 858,913	$ 833,020
Commitments and Contingencies
Stockholders' deficit:
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value, 250,000,000 shares authorized; 4,655,338 shares issued and outstanding, at March 31, 2016 and December 31, 2015, respectively	$ 162,937	$ 162,937
Additional paid-in capital	7,774,006	11,812,349
Accumulated deficit	(8,777,637)	(12,764,249)
Total stockholders' deficit	(840,694)	(788,963)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 18,219	$ 44,057

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	250,000,000	250,000,000
Common stock, issued	4,655,338	4,655,338
Common stock, outstanding	4,655,338	4,655,338

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Sales, net	$ 59,302	$ 235,843
Costs of goods sold	11,203	92,003
Gross profit	48,099	143,840
Expenses:
Selling, general and administrative expenses	70,924	127,700
Operating income (loss)	(22,825)	16,140
Other income (expense), net:
Interest expense	$ (8,102)	(6,779)
Other income (expense), net		(200)
Total other expense, net	$ (8,102)	(6,979)
Income (loss) from continuing operations before income taxes	$ (30,927)	$ 9,161
Income taxes
Income (loss) from continuing operations	$ (30,927)	$ 9,161
Income (loss) from discontinued operations, net of tax		95,316
Net income (loss)	$ (30,927)	$ 104,477
Basic and diluted earnings loss per share from continuing operations (in dollars per share)	$ (0.01)	$ 0
Basic and diluted earnings per share from discontinued operations (in dollars per share)	0	0.02
Basic and diluted earnings (loss) per share (in dollars per share)	$ (0.01)	$ 0.02
Basic and diluted weighted average number shares outstanding (in shares)	4,655,338	4,655,338

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Deficit (unaudited) - 3 months ended Mar. 31, 2016 - USD ($)	Common Shares [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at beginning at Dec. 31, 2015	$ 162,937	$ 11,812,349	$ (12,764,249)	$ (788,963)
Balance at beginning (in shares) at Dec. 31, 2015	4,655,338
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity of spun-off subsidiaries		(4,039,714)	$ (4,017,539)	22,175
Stock-based compensation expense		$ 1,371		1,371
Net loss			$ (30,927)	(30,927)
Balance at end at Mar. 31, 2016	$ 162,937	$ 7,774,006	$ (8,777,637)	$ (840,694)
Balance at end (in shares) at Mar. 31, 2016	4,655,338

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities
Net income (loss)	$ (30,927)	$ 104,477
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Provision for doubtful accounts	17,137	18,276
Stock-based compensation	1,371	1,371
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable	(19,248)	(42,145)
Prepaid expenses and other current assets	(800)	8,300
Accounts payable	31,328	4,567
Accrued expenses	2,879	(14,235)
Deferred revenue	1,064	(75,687)
Changes in assets and liabilities of discontinued operations	22,177	(87,019)
Net cash provided by (used in) operating activities	24,981	$ (82,095)
Cash Flows from Investing Activities
Equity in spun-off subsidiary	(22,175)
Net cash used in financing activities	(22,175)
Net change in cash	2,806	$ (82,095)
Cash at beginning of period	1,268	94,857
Cash at end of period	$ 4,074	$ 12,762
Cash paid for:
Interest
Income taxes

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Interim Unaudited Condensed Consolidated Financial Statements The unaudited interim condensed consolidated financial statements of CornerWorld Corporation (“CornerWorld” or the “Company”) as of March 31, 2016 and for the three month period ended March 31, 2016 and 2015 contained in this Quarterly Report (collectively, the “Unaudited Interim Condensed Consolidated Financial Statements”) were prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for all periods presented. The results of operations for the three month period ended March 31, 2016 is not necessarily indicative of the results that may be expected for the entire fiscal year. The accompanying Unaudited Interim Condensed Consolidated Financial Statements have been prepared in accordance with the regulations for interim financial information of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited accompanying statements of financial condition and related interim statements of operations, cash flows, and stockholders’ deficit include all adjustments (which consist only of normal and recurring adjustments) considered necessary for a fair presentation in conformity with U.S. GAAP. These Unaudited Interim Condensed Consolidated Financial Statements should be read in conjunction with the CornerWorld consolidated financial statements as of and for the year ended December 31, 2015, as filed with the SEC on Form 10-K. Organization The Company was incorporated in the State of Nevada, on November 9, 2004. Effective May 1, 2007, the Company changed its name to CornerWorld Corporation. The Company provides certain marketing services through its operating subsidiary Enversa Companies LLC, a Texas limited liability company (“Enversa”). CornerWorld is the sole member of Enversa. Enversa is a technology-oriented direct response marketing company. Enversa provides domain hosting, domain leasing, programmatic re-targeting and website management services on a recurring monthly basis. The Company’s year-end is December 31 st Spinoff On August 13, 2015, the Company’s Board of Directors formally approved a plan whereby the Company was authorized to split its telecommunications services segment, Woodland Holdings Corporation (“Woodland”) and Woodland’s wholly owned subsidiaries, in their entirety, into a separate reporting entity. On October 14, 2015, the US Securities and Exchange Commission (the “SEC”) formally informed the Company that the Woodland’s registration statement had become effective, clearing the way for the spin-off. Finally, on December 31, 2015, the Company’s Board of Directors spun-off Woodland to CornerWorld’s shareholders of record as of December 31, 2015 (the “Record Date”). CornerWorld shareholders, as of the Record Date, received shares in Woodland equal to their pro-rata ownership percentage of CornerWorld. For every share owned by the Company’s shareholders as of the Record Date, those same shareholders were issued 1 share of Woodland’s common stock. The Company previously provided telecommunications services, including telephony and internet services, through Woodland’s wholly owned subsidiaries Phone Services and More, L.L.C., doing business as Visitatel (“PSM”) and T 2 2 2 2 2 Common Stock Reverse Split On November 6, 2015, the Company effectuated a one-for-thirty-five reverse stock split to shareholders of record as of November 6, 2015. Share and per share information have been retroactively adjusted to reflect the reverse stock split due to the fact that the reverse stock split took place after the close of the reporting period. Prospective Merger On February 29, 2016, CornerWorld executed a merger agreement with Deportes Media, LLC (the “Merger Agreement”). Pursuant to the Merger Agreement, the Merger Agreement itself was non-binding until such time as Deportes Media, LLC (“Deportes”) was able to secure approval for the Merger Agreement from no less than 75% of its shareholders. On March 18, 2016, Deportes reported to CornerWorld that it had, in fact, obtained the approval of the Merger Agreement from more than 75% of its shareholders and that, accordingly, the Merger Agreement had become binding. Pursuant to the Merger Agreement, CornerWorld is not contractually obligated to close the Merger Agreement, until such time as Deportes has completed certain Conditions to Close, as described in more detail below. If CornerWorld and Deportes close the Merger Agreement, Deportes shareholders will be entitled to receive 27.32 shares of CornerWorld common stock for each share of Deportes common stock. If CornerWorld closes the Merger Agreement, a total of approximately 13.7 million shares will be outstanding with an implied price of $1.32 per share and existing CornerWorld shareholders would own approximately 33.9% of the combined Company. CornerWorld can terminate the Merger Agreement, at its sole option, if Deportes fails to perform any of the Conditions to Close as further defined below. Conditions to Close include, but are not limited to, the following: Deportes must acquire certain radio towers in certain markets, Deportes current debt holders must convert their debt to equity and Deportes must acquire the ESPN Deportes New York affiliate, WEPN AM-1050. Should Deportes fail to meet all the Conditions to Close, CornerWorld will be entitled to receive a break-up fee equivalent to 10% of Deportes then outstanding common shares. CornerWorld, at its sole discretion, may close the Merger Agreement without Deportes completing the Conditions to Close. However, CornerWorld will only receive the 10% break-up fee if CornerWorld terminates the Merger Agreement as a result of Deportes’ failure to execute any one of the Conditions to Close after May 31, 2016. Should Deportes fail to execute the Conditions to Close and CornerWorld does not close the transaction by September 30, 2016, the Merger Agreement will terminate of its own accord and CornerWorld will be entitled to the a breakup fee equivalent to 10% of Deportes then outstanding common shares.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies This summary of significant accounting policies is presented to assist in understanding the Company’s condensed consolidated financial statements. The condensed consolidated financial statements and notes are representations of the Company’s management who is responsible for their integrity and objectivity. These accounting policies conform to US GAAP and have been consistently applied in the preparation of the financial statements. The financial statements are stated in United States of America dollars. Receivables Accounts receivable include uncollateralized customer obligations due under normal trade terms requiring payment within 30-60 days from invoice date. Payments of accounts receivable are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The carrying amount of accounts receivable is reduced by a valuation allowance for doubtful accounts that reflects management’s best estimate of the amounts that will not be collected based on historical collection trends. The allowance for doubtful accounts was $3,741 and $3,741 as of March 31, 2016 and December 31, 2015, respectively. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include, among others, the realizability of accounts receivable, recoverability of property and equipment and valuation of stock-based compensation and deferred tax assets. Actual results could differ from these estimates. Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) No. 850 requires disclosure of fair value information about financial instruments when it is practicable to estimate that value. The carrying amount of the Company’s cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and notes payable approximate their estimated fair values due to their short-term maturities. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial statements. Revenue Recognition The Company recognizes revenue in accordance with Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements,” as revised by SAB 104. As such, the Company recognizes revenue when persuasive evidence of an arrangement exists, title transfer has occurred, the price is fixed or readily determinable and collectibility is probable. Sales are recorded net of sales discounts. At Enversa, revenue is recognized along with the related cost of revenue as services are delivered. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. Amounts billed to clients in advance of delivery of leads are classified under current liabilities as deferred revenue. Income Taxes The Company accounts for income tax in accordance with ASC No. 740 which requires the use of the asset and liability method of accounting of income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Long-Lived Assets The Company accounts for its long-lived assets in accordance with the ASC. The ASC requires a company to assess the recoverability of its long-lived assets whenever events and circumstances indicate the carrying value of an asset or asset group may not be recoverable from estimated future cash flows expected to result from its use and eventual disposition. The Company’s only long-lived assets are a property and equipment which have been fully depreciated. Stock-Based Compensation The Company accounts for awards made under its two stock-based compensation plans pursuant to the fair value provisions of ASC No. 718. ASC No. 718 requires the recognition of stock-based compensation expense, using a fair-value based method, for costs related to all share-based payments including stock options. ASC No. 718 requires companies to estimate the fair value of share-based payment awards on the date of grant using an option-pricing model. The Company accounts for stock-based compensation in accordance with ASC No. 718 and estimates its fair value based on using the Black-Scholes option pricing model. The Company’s determination of fair value of share-based payment awards is made as of their respective dates of grant using that option pricing model and is affected by the Company’s stock price as well as a number of subjective assumptions. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards and actual and projected employee stock option exercise behavior. The expected term of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior. The risk-free rate selected to value any particular grant is based on the U.S. Treasury rate that corresponds to the pricing term of the grant effective as of the date of the grant. The expected volatility is based on the historical volatility of the Company’s stock price. These factors could change in the future, affecting the determination of stock-based compensation expense in future periods. The Black-Scholes option pricing model was developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Because the Company’s options have certain characteristics that are significantly different from traded options, the existing valuation models may not provide an accurate measure of the fair value of the Company’s options. Although the fair value of the Company’s options is determined in accordance with ASC No. 718 using an option-pricing model, that value may not be indicative of the fair value observed in a willing buyer/willing seller market transaction. The calculated compensation cost is recognized on a straight-line basis over the vesting period of the options. See also Note 6 Stock Based Compensation, for more details. Concentration of credit risk Credit is extended based on an evaluation of the customer’s financial condition, and the Company does not require collateral. Write-offs of accounts receivable have historically been nominal. Approximately 74.9% and 49.6% of total revenue was derived from the Company’s largest customer during the three month periods ended March 31, 2016 and 2015, respectively. Reclassifications Certain prior year accounts have been reclassified to conform to the current year’s presentation.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	3. Discontinued Operations As previously noted, on August 13, 2015, the Company’s Board of Directors formally approved a plan whereby the Company was authorized to split Woodland’s and its wholly owned subsidiaries, in their entirety, into a separate reporting entity. On October 14, 2015, the SEC formally informed the Company that the Woodland’s registration statement had become effective. Finally, on December 31, 2015, the Company Board of Directors spun-off Woodland to CornerWorld’s shareholders of record as of the Record Date. As a result of the Spin-Off, Woodland’s operations, along with those of its wholly owned subsidiaries, have been reported as discontinued operations in these consolidated financial statements. The following is a summary of the operating results of our discontinued operations: For the Three Months Ended March 31, 2016 2015 Sales, net $ — $ 69,806 Income (loss) from discontinued operations before income taxes — 95,316 Income taxes — — Net income from discontinued operations $ — $ 95,316 The following is a summary of assets and liabilities of discontinued operations as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Assets: Current assets $ — $ 31,555 Assets of discontinued operations held for sale — 31,555 Liabilities Accounts payable and accrued expenses — 9,378 $ — $ 9,378

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	4. Debt As of March 31, 2016 December 31, 2015 Note payable to CEO (the “Senior Note”); the Senior Note matures July 31, 2016. At March 31, 2016, the interest rate was 6.25%. This note is collateralized by all assets of the Company. See also Note 7, Related Party Transactions. $ 338,958 $ 338,958 Total debt $ 338,958 $ 338,958 The Senior Note contains no restrictive covenants or events of default other than non-payment. On December 31, 2014, the Company did not make its regularly scheduled payment totaling $12,746 which constituted an event of default. Mr. Beck did not call default but there can be no assurance that, as the Company’s senior secured lender, he will not do so. It is anticipated that the Company will amend the Senior Note at some future point but there can be no assurance that we will be successful in amending the terms of the Senior Note. Should we be unsuccessful in executing an amendment or an extension, Mr. Beck, as the senior secured lender, could move to seize the underlying collateral which would have a material adverse effect on the Company’s ability to continue as a going concern.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	5. Commitments and Contingencies Litigation The Company is occasionally involved in other litigation matters relating to claims arising from the ordinary course of business. The Company’s management believes that there are no claims or actions pending or threatened against the Company, the ultimate disposition of which would have a material adverse effect on our business, results of operations and financial condition.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	6. Stock-Based Compensation Incentive Stock Plan On August 17, 2007, the Company’s board of directors adopted and implemented the Company’s 2007 Incentive Stock Plan. Under the Incentive Stock Plan, the Company is authorized to issue 4,000,000 shares of its common stock to the Company’s directors, officers, employees, advisors or consultants. Any Incentive Stock Option granted to an employee of the Company shall become exercisable over a period of no longer than 5 years, and no less than 20% of the shares covered thereby shall become exercisable annually. 20% of shares vest annually beginning on the first anniversary of the grant. The options expire 5 years from the grant date. The Company issued no options pursuant to this plan during the three month period ended March 31, 2016. Stock Compensation Plan On August 17, 2007, the Company’s board of directors adopted and implemented the Company’s 2007 Stock Compensation Plan. The total number of shares of the Company’s common stock which may be purchased or granted directly by Options, Stock Awards or Warrants under the Compensation Plan shall not exceed 4,000,000 shares of the Company’s common stock. Awards granted to a participant of the Company shall become exercisable over a period of no longer than 5 years, and may vest as determined at the Company’s discretion at the time of grant. The Company issued no stock options pursuant to this plan during the three month period ended March 31, 2016. A summary of the shares reserved for grant and awards available for grant under each Stock Plan is as follows: March 31, 2016 Shares Reserved for Grant Awards Available for Grant Incentive Stock Plan 4,000,000 3,999,858 Stock Compensation Plan 4,000,000 3,953,575 8,000,000 7,953,433 The Company issues awards to employees, qualified consultants and directors that generally vest over time based solely on continued employment or service during the related vesting period and are exercisable over a five to ten year service period. Options are generally granted with an exercise price equal to the market price of the Company’s stock at the date of grant. The fair value of each stock-based award is estimated on the grant date using the Black-Scholes option-pricing model. Expected volatilities are based on the historical volatility of the Company’s stock price. The expected term of options granted subsequent to the adoption ASC 718 is derived using the simplified method as defined in the SEC’s SAB No. 107. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury interest rates in effect at the time of grant. The fair value of options granted was estimated using the following weighted-average assumptions: For the three month periods ended March 31, 2016 2015 Expected term (in years) — — Expected volatility — % — % Risk-free interest rate — % — % Dividend yield — % — % A summary of activity under the Stock Plans and changes during the three month period ended March 31, 2016 is presented below: Weighted-Average Shares Exercise Price Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at December 31, 2015 46,567 $ 3.84 3.20 $ — Issued — — — — Cancelled/forfeited — — — Outstanding at March 31, 2016 45,567 $ 3.84 2.95 $ — Options expected to vest 45,567 $ 3.84 2.95 $ — Options exercisable at end of period 24,426 $ 4.15 2.84 $ — For the three month period ended March 31, 2016 and 2015, the Company recognized $1,371 and $1,371 of stock-based compensation expense, respectively. As of March 31, 2016 there was $6,825 of total unrecognized compensation cost, net of forfeitures, related to unvested employee and director stock option compensation arrangements. That cost is expected to be recognized on a straight-line basis over the next 2.95 weighted average years.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	7. Related Party Transactions On March 30, 2011, the Company entered into a subordinated $389,942 promissory note (the “Senior Note”) with Scott N. Beck, the Company’s Chief Executive Officer. Interest on the outstanding principal amount under the Senior Note is payable at the Company’s discretion at a rate of 6.25% per annum and monthly principal payments totaling $12,746 were due beginning December 31, 2014. On December 31, 2014, the Company did not make its regularly scheduled payment totaling $12,746 to Mr. Beck which constituted an event of default under the Senior Note. Mr. Beck did not call default but there can be no assurance that, as the Company’s Senior Lender, he will not do so. It is anticipated that the Company will amend the Senior Note at some future point but there can be no assurance that we will be successful in amending the terms of the Senior Note. Should we be unsuccessful in executing an amendment or an extension, Mr. Beck, as the senior lender, could move to seize the underlying collateral which would have a material adverse effect on the Company’s ability to continue as a going concern. The Company recorded interest of $8,102 and $6,779 on this facility during the three month period ended March 31, 2016 and 2015, respectively. The balance of this note totaled $338,958 at March 31, 2016. The Company was party to a lease agreement with 13101 Preston Road, LP pursuant to which it leases office space for its corporate headquarters. The lease expired on January 31, 2016. The limited partners of 13101 Preston Road, LP are trusts controlled by the family of the Company’s Chief Executive Officer. The Company paid $2,500 and $7,500 in rent during the three month periods ended March 31, 2016 and 2015, respectively. As of March 31, 2016, the Company had recorded a liability of $17,500 for unpaid rent on its office space. The Company provides accounting, human resources and certain IT services to an entity controlled by the family of the Company’s Chief Executive Officer for $5,000 per month. The Company received $15,000 from this entity during each of the three month periods ended March 31, 2016 and 2015.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events There were no events that took place subsequent to March 31, 2016 up through the date of the filing of these financial statements that had a material impact on these financial statements.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Receivables	Receivables Accounts receivable include uncollateralized customer obligations due under normal trade terms requiring payment within 30-60 days from invoice date. Payments of accounts receivable are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The carrying amount of accounts receivable is reduced by a valuation allowance for doubtful accounts that reflects management’s best estimate of the amounts that will not be collected based on historical collection trends. The allowance for doubtful accounts was $3,741 and $3,741 as of March 31, 2016 and December 31, 2015, respectively.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include, among others, the realizability of accounts receivable, recoverability of property and equipment and valuation of stock-based compensation and deferred tax assets. Actual results could differ from these estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) No. 850 requires disclosure of fair value information about financial instruments when it is practicable to estimate that value. The carrying amount of the Company’s cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and notes payable approximate their estimated fair values due to their short-term maturities. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial statements.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements,” as revised by SAB 104. As such, the Company recognizes revenue when persuasive evidence of an arrangement exists, title transfer has occurred, the price is fixed or readily determinable and collectibility is probable. Sales are recorded net of sales discounts. At Enversa, revenue is recognized along with the related cost of revenue as services are delivered. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. Amounts billed to clients in advance of delivery of leads are classified under current liabilities as deferred revenue.
Income Taxes	Income Taxes The Company accounts for income tax in accordance with ASC No. 740 which requires the use of the asset and liability method of accounting of income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
Long-Lived Assets	Long-Lived Assets The Company accounts for its long-lived assets in accordance with the ASC. The ASC requires a company to assess the recoverability of its long-lived assets whenever events and circumstances indicate the carrying value of an asset or asset group may not be recoverable from estimated future cash flows expected to result from its use and eventual disposition. The Company’s only long-lived assets are a property and equipment which have been fully depreciated.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for awards made under its two stock-based compensation plans pursuant to the fair value provisions of ASC No. 718. ASC No. 718 requires the recognition of stock-based compensation expense, using a fair-value based method, for costs related to all share-based payments including stock options. ASC No. 718 requires companies to estimate the fair value of share-based payment awards on the date of grant using an option-pricing model. The Company accounts for stock-based compensation in accordance with ASC No. 718 and estimates its fair value based on using the Black-Scholes option pricing model. The Company’s determination of fair value of share-based payment awards is made as of their respective dates of grant using that option pricing model and is affected by the Company’s stock price as well as a number of subjective assumptions. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards and actual and projected employee stock option exercise behavior. The expected term of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior. The risk-free rate selected to value any particular grant is based on the U.S. Treasury rate that corresponds to the pricing term of the grant effective as of the date of the grant. The expected volatility is based on the historical volatility of the Company’s stock price. These factors could change in the future, affecting the determination of stock-based compensation expense in future periods. The Black-Scholes option pricing model was developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Because the Company’s options have certain characteristics that are significantly different from traded options, the existing valuation models may not provide an accurate measure of the fair value of the Company’s options. Although the fair value of the Company’s options is determined in accordance with ASC No. 718 using an option-pricing model, that value may not be indicative of the fair value observed in a willing buyer/willing seller market transaction. The calculated compensation cost is recognized on a straight-line basis over the vesting period of the options. See also Note 6 Stock Based Compensation, for more details.
Concentration of credit risk	Concentration of credit risk Credit is extended based on an evaluation of the customer’s financial condition, and the Company does not require collateral. Write-offs of accounts receivable have historically been nominal. Approximately 74.9% and 49.6% of total revenue was derived from the Company’s largest customer during the three month periods ended March 31, 2016 and 2015, respectively.
Reclassifications	Reclassifications Certain prior year accounts have been reclassified to conform to the current year’s presentation.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of the operating results of our discontinued operations	The following is a summary of the operating results of our discontinued operations: For the Three Months Ended March 31, 2016 2015 Sales, net $ — $ 69,806 Income (loss) from discontinued operations before income taxes — 95,316 Income taxes — — Net income from discontinued operations $ — $ 95,316
Schedule of assets and liabilities held for sale	The following is a summary of assets and liabilities of discontinued operations as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Assets: Current assets $ — $ 31,555 Assets of discontinued operations held for sale — 31,555 Liabilities Accounts payable and accrued expenses — 9,378 $ — $ 9,378

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of long-term debt	As of March 31, 2016 December 31, 2015 Note payable to CEO (the “Senior Note”); the Senior Note matures July 31, 2016. At March 31, 2016, the interest rate was 6.25%. This note is collateralized by all assets of the Company. See also Note 7, Related Party Transactions. $ 338,958 $ 338,958 Total debt $ 338,958 $ 338,958

Stock Based Compensation Plans

Stock Based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of shares reserved for grant and awards available for grant	A summary of the shares reserved for grant and awards available for grant under each Stock Plan is as follows: March 31, 2016 Shares Reserved for Grant Awards Available for Grant Incentive Stock Plan 4,000,000 3,999,858 Stock Compensation Plan 4,000,000 3,953,575 8,000,000 7,953,433
Schedule of weighted-average assumptions	The fair value of options granted was estimated using the following weighted-average assumptions: For the three month periods ended March 31, 2016 2015 Expected term (in years) — — Expected volatility — % — % Risk-free interest rate — % — % Dividend yield — % — %
Schedule of stock plan activity	A summary of activity under the Stock Plans and changes during the three month period ended March 31, 2016 is presented below: Weighted-Average Shares Exercise Price Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at December 31, 2015 46,567 $ 3.84 3.20 $ — Issued — — — — Cancelled/forfeited — — — Outstanding at March 31, 2016 45,567 $ 3.84 2.95 $ — Options expected to vest 45,567 $ 3.84 2.95 $ — Options exercisable at end of period 24,426 $ 4.15 2.84 $ —

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)	Mar. 18, 2016	Feb. 29, 2016	Nov. 06, 2015
Description of reverse stock split			One-for-thirty-five
Merger Agreement [Member] | Deportes Media, LLC [Member]
Description of approval percent from shareholder	M ore than 75% of its shareholders.	Less than 75% of its shareholders.
Description of shares issuable		R eceive 27.32 shares of CornerWorld common stock for each share of Deportes common stock.
Value of shares outstanding		$ 13,700,000
Share price (in dollars per share)		$ 1.32
Percentage of ownership		33.90%
Percent of breakup fee to outstanding shares		10.00%

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Allowance for doubtful accounts	$ 3,741		$ 3,741
Customer Concentration Risk [Member] | Revenue [Member]
Percentage of concentration risk	74.90%	49.60%

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income from discontinued operations		$ 95,316
Woodland Holdings Corporation [Member]
Sales, net		69,806
Income (loss) from discontinued operations before income taxes		$ 95,316
Income taxes
Net income from discontinued operations		$ 95,316

Discontinued Operations (Deta22

Discontinued Operations (Details 1) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Assets:
Current assets		$ 31,555
Assets of discontinued operations held for sale		31,555
Liabilities
Accounts payable and accrued expenses		9,378
Liabilities of discontinued operations held for sale		$ 9,378

Debt (Details Narrative)

Debt (Details Narrative)	Dec. 31, 2014USD ($)
Notes Payable [Member] | Scott N. Beck [Member]
Debt instrument, default payment	$ 12,746

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Total debt	$ 338,958	$ 338,958
Notes Payable [Member] | Scott N. Beck [Member]
Total debt	$ 338,958	$ 338,958
Debt instrument, maturity date	Jul. 31, 2016
Debt instrument, interest rate	6.25%

Stock Based Compensation (Detai

Stock Based Compensation (Detail Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock-based compensation expense	$ 1,371	$ 1,371
Unrecognized compensation cost, net of forfeitures	$ 6,825
Unrecognized compensation cost, weighted-average recognition period	2 years 11 months 12 days
2007 Stock Compensation Plan [Member]
Number of shares authorized	4,000,000
2007 Stock Compensation Plan [Member] | Maximum [Member]
Vesting period	5 years
Award term	10 years
2007 Stock Compensation Plan [Member] | Minimum [Member]
Award term	5 years
2007 Incentive Stock Plan [Member]
Number of shares authorized	4,000,000
Options expiration period	5 years
2007 Incentive Stock Plan [Member] | Maximum [Member]
Vesting period	5 years
2007 Incentive Stock Plan [Member] | Minimum [Member]
Percentage of shares that vest annually	20.00%

Stock Based Compensation (Det26

Stock Based Compensation (Details)	Mar. 31, 2016shares
Shares Reserved for Grant	8,000,000
Awards Available for Grant	7,953,433
2007 Incentive Stock Plan [Member]
Shares Reserved for Grant	4,000,000
Awards Available for Grant	3,999,858
2007 Stock Compensation Plan [Member]
Shares Reserved for Grant	4,000,000
Awards Available for Grant	3,953,575

Stock Based Compensation (Det27

Stock Based Compensation (Details 1) - 2007 Stock Compensation Plan [Member]	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Expected term (in years)	0 years	0 years
Expected volatility
Risk-free interest rate
Dividend yield

Stock Based Compensation (Det28

Stock Based Compensation (Details 2) - 2007 Stock Compensation Plan [Member]	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning | shares	46,567
Issued | shares
Cancelled/forfeited | shares
Outstanding, ending | shares	45,567
Options expected to vest | shares	45,567
Options exercisable at end of period | shares	24,426
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning | $ / shares	$ 3.84
Issued | $ / shares
Cancelled/forfeited | $ / shares
Outstanding, ending | $ / shares	$ 3.84
Options expected to vest | $ / shares	3.84
Options exercisable at end of period | $ / shares	$ 4.15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Term [Roll Forward]
Outstanding, beginning	3 years 2 months 12 days
Outstanding, ending	2 years 11 months 12 days
Options expected to vest	2 years 11 months 12 days
Options exercisable at end of period	2 years 10 months 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Aggregate Intrinsic Value [Roll Forward]
Outstanding, beginning | $
Issued | $
Outstanding, ending | $
Options expected to vest | $
Options exercisable at end of period | $

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2014	Mar. 30, 2011
Scott N. Beck [Member]
Service revenue, monthly amount	$ 5,000
Scott N. Beck [Member] | Notes Payable [Member]
Debt instrument, face amount				$ 389,942
Debt instrument, interest rate	6.25%
Periodic installments amount	$ 12,746
Debt instrument, frequency of principal payment	Monthly
Debt instrument, due date	Dec. 31, 2014
Debt instrument, default payment			$ 12,746
Interest expense	$ 8,102	$ 6,779
Notes payable, related parties	$ 338,958
13101 Preston Road, LP [Member]
Lease expiration date	Jan. 31, 2016
Rental expense	$ 2,500	7,500
Unpaid rent	17,500
Entity Controlled by CEO's Family [Member]
Revenue from related parties	$ 15,000	$ 15,000