| Document and Entity Information - shares | 3 Months Ended | |
| Oct. 31, 2015 | Dec. 10, 2015 | |
| Document And Entity Information | ||
| Entity Registrant Name | GeoTraq Inc. | |
| Entity Central Index Key | 1,390,134 | |
| Document Type | 10-Q | |
| Document Period End Date | Oct. 31, 2015 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --07-31 | |
| Is Entity a Well-known Seasoned Issuer? | No | |
| Is Entity a Voluntary Filer? | No | |
| Is Entity's Reporting Status Current? | Yes | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Common Stock, Shares Outstanding | 74,000,000 | |
| Document Fiscal Period Focus | Q1 | |
| Document Fiscal Year Focus | 2,016 |
| Balance Sheets - USD ($) | Oct. 31, 2015 | Jul. 31, 2015 |
| Current assets | ||
| Cash | $ 333,189 | $ 45,130 |
| Total Current Assets | 333,189 | 45,130 |
| Total assets | 333,189 | 45,130 |
| Current liabilities | ||
| Accounts payable and accrued expenses | 7,000 | 32,000 |
| Deferred revenue | 50,000 | 50,000 |
| Total Current Liabilities | 57,000 | 82,000 |
| Total liabilities | 57,000 | 82,000 |
| STOCKHOLDERS' EQUITY (DEFICIT) | ||
| Common stock, $.0001 par value, 75,000,000 authorized, 68,950,000 and 65,250,000 shares issued and outstanding | 6,895 | 6,525 |
| Additional paid in capital | 1,984,469 | 1,614,839 |
| Stock payable | 3,990 | 8,990 |
| Accumulated deficit | (1,719,165) | (1,667,224) |
| Total stockholders' equity (deficit) | 276,189 | (36,870) |
| Total liabilities and stockholders' equity (deficit) | $ 333,189 | $ 45,130 |
| Balance Sheets (Parenthetical) - $ / shares | Oct. 31, 2015 | Jul. 31, 2015 |
| Stockholders' equity: | ||
| Common stock; par value | $ .0001 | $ .0001 |
| Common stock; shares authorized | 75,000,000 | 75,000,000 |
| Common stock; Stock Issued | 68,950,000 | 65,250,000 |
| Common stock; Stock Outstanding | 68,950,000 | 65,250,000 |
| Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
| Oct. 31, 2015 | Oct. 31, 2014 | |
| Statements Of Operations | ||
| Revenue | ||
| General and administrative expenses: | ||
| Hardware Engineering | $ 18,065 | $ 15,000 |
| Professional fees | 20,851 | $ 129 |
| Advertising | 153 | |
| Rent | $ 6,570 | $ 2,530 |
| Amortization expense | 49,730 | |
| Office and other administration expense | $ 6,302 | 31,489 |
| Total operating expenses | 51,941 | 98,878 |
| Loss from operations | $ (51,941) | (98,878) |
| Other income (expense): | ||
| Interest expense | (743) | |
| Loss before taxes | $ (51,941) | $ (99,621) |
| Provision (credit) for taxes on income | ||
| Net loss | $ (51,941) | $ (99,621) |
| Net loss per common share – basic and diluted | $ 0 | $ 0 |
| Weighted average number of shares outstanding | 67,670,652 | 43,956,088 |
| Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
| Oct. 31, 2015 | Oct. 31, 2014 | |
| Cash flows from operating activities: | ||
| Net loss | $ (51,941) | $ (99,621) |
| Adjustments to reconcile net loss to cash provided used by operating activities: | ||
| Inputed interest | 743 | |
| Amortization expense | $ 49,730 | |
| Change in current assets and liabilities: | ||
| Accounts payable and accrued expenses | $ (25,000) | |
| Net cash flows from operating activities | $ (76,941) | $ (49,148) |
| Cash flows from investing activities: | ||
| Purchase of fixed assets | ||
| Net cash flows from investing activities | ||
| Cash flows from financing activities: | ||
| Proceeds from sale of common stock | $ 365,000 | |
| Net cash flows from financing activities | 365,000 | |
| Net cash flows | 288,059 | $ (49,148) |
| Cash and equivalents, beginning of period | 45,130 | 87,389 |
| Cash and equivalents, end of period | $ 333,189 | $ 38,241 |
| Supplemental cash flow disclosures: | ||
| Cash paid for interest | ||
| Cash paid for income taxes | ||
| Shares issued for stock payable | 5,000 | |
| Organization and summary of significant accounting policies | 3 Months Ended |
| Oct. 31, 2015 | |
| Notes to Financial Statements | |
| 1. Organization and summary of significant accounting policies | Following is a summary of the Company's organization and significant accounting policies: Organization and nature of business GeoTraq Inc. The Company was formerly in the business of acquiring new technologies for development and marketing, and prior to that, the business of acquiring, exploring and developing mineral properties Basis of presentation Use of estimates - Cash and cash equivalents Convertible Debentures: Beneficial Conversion Features Fair value of financial instruments The Company does not use derivative financial instruments to hedge exposures to cash-flow, market or foreign-currency risks. However, the Company has issued financial instruments including senior convertible notes payable and freestanding stock purchase warrants with features that are either (i) not afforded equity classification, (ii) embody risks not clearly and closely related to host contracts, or (iii) may be net-cash settled by the counterparty. As required by FASB ASC 815, in certain circumstances, these instruments are required to be carried as derivative liabilities, at fair value, in our financial statements. Determination of fair value The Company complies with the provisions of FASB ASC 820-10, "Fair Values Measurements and Disclosures." FASB ASC 820-10 relates to financial assets and financial liabilities. FASB ASC 820-10 defines fair value, establishes a framework for measuring fair value in accounting principles generally accepted in the Unites States of America (GAAP), and expands disclosures about fair value measurements. The provisions of this standard apply to other accounting pronouncements that require or permit fair value measurements and are to be applied prospectively with limited exceptions. FASB ASC 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820-10 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions, about market participant assumptions, that are developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consist of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 and Level 2) and the lowest priority to unobservable inputs (Level 3). Federal income taxes Accounting for Income Taxes Net loss per share calculation Recently Issued Accounting Pronouncements |
| Uncertainty, going concern | 3 Months Ended |
| Oct. 31, 2015 | |
| Notes to Financial Statements | |
| 2. Uncertainty, going concern | At October 31, 2015, we were engaged in a business and had suffered losses to date. In addition, current liabilities exceed current assets, and we have minimal operating funds. Although management is currently attempting to identify business opportunities and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful. Accordingly, we must rely on our officers to perform essential functions without compensation until a business operation can be commenced. No amounts have been recorded in the accompanying financial statements for the value of officers' services, as it is not considered material. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
| Convertible Notes Payable | 3 Months Ended |
| Oct. 31, 2015 | |
| Notes to Financial Statements | |
| 3. Convertible Notes Payable | On October 5, 2011, the Company issued convertible promissory notes with principal balances of $60,000. The notes were unsecured, payable on demand, and do not bear any interest. The notes, or any part thereof, can be converted to one common share of the Company for each $0.03 outstanding in principal. At conversion, the maximum number of shares that will be issued is 2,000,000. The Company did not record beneficial conversion feature resulting from these issuances as the conversion price was higher than the market price as at July 31, 2014. These notes were converted into 2,000,000 shares of restricted common stock on April 27, 2015. On June 20, 2014 the Company entered into a convertible promissory note agreement with note proceeds of $100,000. The note was unsecured, payable on demand, and does not bear any interest. The note, or any part thereof, can be converted to one common share of the Company for each $0.10 outstanding in principal. At conversion, the maximum number of shares that will be issued is 1,000,000. The Company evaluated the conversion feature for a beneficial conversion feature. The effective conversion price was compared to the market price on the date of the notes and was deemed to be less than the market value of underlying common stock at the inception of the notes. Therefore, the Company recognized a beneficial conversion feature in the amount of $100,000 on March 21, 2014. The beneficial conversion feature was recognized as an increase in additional paid-in capital and a discount to the Convertible Notes Payable. The discount to the Convertible Notes Payable is being amortized to interest expense over the life of the notes using the effective interest method. As of July 31, 2015, the Company had fully amortized this discount by $100,000. The Company issued 1,000,000 shares on December 30, 2014 to pay off this convertible note. |
| Sale of Common Stock | 3 Months Ended |
| Oct. 31, 2015 | |
| Notes to Financial Statements | |
| 4. Sale of Common Stock | The total number of common shares authorized that may be issued by the Company is 75,000,000 shares with a par value of $0.0001 per share. On March 1, 2014 the Company issued 25,000,000 common shares at $0.0001 per share for gross proceeds of $2,500. On October 31, 2014, The Company issued 1,000,000 shares of common stock in settlement of the convertible promissory note with the face value of $100,000. On December 30, 2014, The Company issued 1,500,000 shares of common stock for $262,500. This included $150 in cash plus $262,350 of stock compensation expense. On January 20, 2015, The Company issued 250,000 shares of common stock for $25,000 cash. On April 29, 2015, The Company issued 4,842,200 shares of common stock and reduced its convertible notes payable by $178,422. On May 19, 2015, The Company issued 91,272 shares of common stock for services performed which were part of accounts payable equal to $9,172.20. This was in exchange for $8,214 of stock, which is a combination of $9 in cash plus $8,205 expensed for marketing expenses. On May 28, 2014, The Company issued 50,000 shares of stock for services valued at $3,990 based on closing market price on grant date. The stock was issued on August 31, 2015. The Company also recorded $3,990 as stock payable for services also valued at closing market price on grant date. On August 31, 2015, The Company issued 50,000 shares of common stock. The Company received $5,000 cash on May 28, 2015 and was initially reported as a stock subscription. On August 31, 2015, The Company issued 250,000 shares of common stock for $25,000 cash. On August 31, 2015, The Company issued 400,000 shares of common stock for $40,000 cash. On September 1, 2015, The Company issued 500,000 shares of common stock for $50,000 cash. On September 1, 2015, The Company issued 1,000,000 shares of common stock for $100,000 cash. On September 1, 2015, The Company issued 500,000 shares of common stock for $50,000 cash. On September 1, 2015, The Company issued 1,000,000 shares of common stock for $100,000 cash. As of October 31, 2015 there were no outstanding stock options or warrants. |
| Employment Agreement | 3 Months Ended |
| Oct. 31, 2015 | |
| Notes to Financial Statements | |
| 5. Employment Agreement | The Company had employment agreements with its officers. The agreements called for $500 per month payable to Judson Culter, $2,000 per month for Gregory Gotvald and $5,000 per month for Gregg Sullivan. On December 31, 2014, the Company terminated the employment contracts for Judson Culter and Gregory Gotvald and suspended Gregg Sullivan's. On August 1, 2015, The Company started accruing and paying Gregg Sullivan $5,000 per month per the terms of his employment agreement. The balance of this agreement as of October 31, 2015 was $5,000. On December 31, 2014, the Company filed form 8-K to announce the resignation of Judson Culter as Chief Financial Officer and Gregory Gotvald as Chief Operations Officer. Additionally, on December 2014, Gregg Sullivan consented to and was appointed Chief Financial Officer of the Company by the board of directors. Mr. Sullivan is also the current Chief Executive Officer. |
| Customer Deposit | 3 Months Ended |
| Oct. 31, 2015 | |
| Notes to Financial Statements | |
| 6. Customer Deposit | The Company received a customer deposit of $50,000 for the order of 30,000 GeoTraq modules at a price of $10 per module. The Company is currently fulfilling this order and will start recognizing income in the coming fiscal year. |
| Subsequent Events | 3 Months Ended |
| Oct. 31, 2015 | |
| Notes to Financial Statements | |
| 7. Subsequent Events | GeoTraq's management has evaluated events occurring between October 31, 2015 and December 2, 2015, which is the date of the financial statements were available to be issued, and has recognized in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at December 2, 2015, including the estimates inherent in the processing of the financial statements. On November 20, 2015, the Company issued the 50,000 shares which was reported as a stock subscription. On November 20, 2015, the Company issued 5,000,000 founder shares for $500 cash. |
| Organization and summary of significant accounting policies (Policies) | 3 Months Ended |
| Oct. 31, 2015 | |
| Organization And Summary Of Significant Accounting Policies Policies | |
| Organization and nature of business | GeoTraq Inc. The Company was formerly in the business of acquiring new technologies for development and marketing, and prior to that, the business of acquiring, exploring and developing mineral properties |
| Basis of presentation | The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations, and cash flows of the Company for the period ending October 31, 2015 and the year ending July 31, 2015. |
| Use of estimates | The preparation of financial statements in conformity with generally accepted accounting principles 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
| Cash and cash equivalents | The Company maintains a cash balance in a non-interest-bearing account that currently does not exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of October 31, 2015 and July 31, 2015. |
| Beneficial Conversion Features | Beneficial conversion feature is a non-detachable conversion feature that is in the money at the commitment date. The Company follows the guidance of ASC Subtopic 470-20 Debt with Conversion and Other Options to evaluate as to whether beneficial conversion feature exists. Pursuant to Section 470-20-30 an embedded beneficial conversion feature recognized separately under paragraph 470-20-25-5 shall be measured initially at its intrinsic value at the commitment date (see paragraphs 470-20-30-9 through 30-12) as the difference between the conversion price (see paragraph 470-20-30-5) and the fair value of the common stock or other securities into which the security is convertible, multiplied by the number of shares into which the security is convertible. When the Company issues an debt or equity security that is convertible into common stock at a discount from the fair value of the common stock at the date the debt or equity security counterparty is legally committed to purchase such a security (Commitment Date), a beneficial conversion charge is measured and recorded on the Commitment Date for the difference between the fair value of the Company's common stock and the effective conversion price of the debt or equity security. If the intrinsic value of the beneficial conversion feature is greater than the proceeds allocated to the debt or equity security, the amount of the discount assigned to the beneficial conversion feature is limited to the amount of the proceeds allocated to the debt or equity security. |
| Fair value of financial instruments | The Company has adopted Accounting Standards Codification regarding Disclosure About Derivative Financial Instruments and Fair Value of Financial Instruments. The carrying amounts of cash, accounts payable, accrued expenses, and other current liabilities approximate fair value because of the short maturity of these items. These fair value estimates are subjective in nature and involve uncertainties and matters of significant judgment, and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. We do not hold or issue financial instruments for trading purposes, nor do we utilize derivative instruments in the management of foreign exchange, commodity price or interest rate market risks. The Company does not use derivative financial instruments to hedge exposures to cash-flow, market or foreign-currency risks. However, the Company has issued financial instruments including senior convertible notes payable and freestanding stock purchase warrants with features that are either (i) not afforded equity classification, (ii) embody risks not clearly and closely related to host contracts, or (iii) may be net-cash settled by the counterparty. As required by FASB ASC 815, in certain circumstances, these instruments are required to be carried as derivative liabilities, at fair value, in our financial statements. |
| Determination of fair value | The Company's financial instruments consisted of convertible notes payable. The Company believes all of the financial instruments' recorded values approximate their fair values because of their nature and respective durations. The Company complies with the provisions of FASB ASC 820-10, "Fair Values Measurements and Disclosures." FASB ASC 820-10 relates to financial assets and financial liabilities. FASB ASC 820-10 defines fair value, establishes a framework for measuring fair value in accounting principles generally accepted in the Unites States of America (GAAP), and expands disclosures about fair value measurements. The provisions of this standard apply to other accounting pronouncements that require or permit fair value measurements and are to be applied prospectively with limited exceptions. FASB ASC 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820-10 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions, about market participant assumptions, that are developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consist of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 and Level 2) and the lowest priority to unobservable inputs (Level 3). |
| Federal income taxes | Deferred income taxes are reported for timing differences between items of income or expense reported in the financial statements and those reported for income tax purposes in accordance with Accounting Standards Codification regarding Accounting for Income Taxes |
| Net loss per share calculation | Net loss per share is provided in accordance with FASB ASC 260-10, "Earnings per Share". Basic net loss per common share ("EPS") is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued, unless doing so is anti-dilutive. |
| Recently Issued Accounting Pronouncements | For the periods ended October 31, 2015 and July 31, 2015, the Company does not expect any of the recently issued accounting pronouncements to have a material impact on its financial condition or results of operations. |
| Employment Agreement (Details Narrative) | Oct. 31, 2015USD ($) |
| Employment Agreement Details Narrative | |
| Employment Agreement | $ 5,000 |
