Gamzio Mobile (MDMC) 10-Q 19 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 18, 2014
Document And Entity Information	'	'
Entity Registrant Name	'Gamzio Mobile, Inc.	'
Entity Central Index Key	'0001391798	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
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	'	58,180,130
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
CURRENT ASSETS	'	'
Cash	$1,959	$25,856
Total Current Assets	1,959	25,856
PROPERTY AND EQUIPMENT	'	'
Furniture and equipment - net of accumulated depreciation of $4,250 and $2,975	850	2,125
Computer equipment - net of accumulated depreciation of $5,324 and$3,727	1,065	2,662
Computer software - net of accumulated depreciation of $1,883 and $0	9,417	'
Total Property and Equipment	11,332	4,787
Total Assets	13,291	30,643
CURRENT LIABILITIES	'	'
Accounts payable	75,326	47,653
Due to related party	30,000	'
Accrued interest	8,335	232,534
Advance from third party	'	59,000
Line of credit	163,612	'
Advances from related parties	27,523	27,523
Convertible Notes payable	'	363,162
Total Current Liabilities	304,796	729,872
Total Liabilities	304,796	729,872
STOCKHOLDERS DEFICIENCY	'	'
Common stock 59,000,000 shares authorized, at $0.001 par value 58,180,130 and 55,658,252 shares issued and outstanding, respectively	58,180	55,658
Additional paid-in capital	193,627	-435,870
Deficit accumulated during the development stage	-543,312	-319,017
Total Stockholders Deficiency	-291,505	-699,229
Total Liabilities and Stockholders Deficiency	$13,291	$30,643

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Depreciation expense, furniture and equipment	$4,250	$2,975
Accumulated amortization, computer equipment	5,324	3,727
Depreciation expense, computer software	$1,883	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	59,000,000	59,000,000
Common stock, shares issued	58,180,130	55,658,252

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
REVENUES	$4,402	'	$8,608	'
EXPENSES	'	'	'	'
Selling, general and administrative	59,893	5,517	194,545	60,228
Total operating costs and expenses	59,893	5,517	194,545	60,228
OTHER (INCOME) EXPENSE	'	'	'	'
Interest expense	4,081	1,371	38,358	1,371
Total (income) expense	4,081	1,371	38,358	1,371
Net Income (loss)	($59,572)	($6,888)	($224,295)	($61,599)
NET LOSS PER COMMON SHARE	'	'	'	'
Basic and diluted	$0	$0	$0	$0
WEIGHTED AVERAGE OUTSTANDING SHARES	'	'	'	'
basic and diluted	58,180,130	30,000,000	56,766,879	30,000,000

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Operating Activities	'	'
Net loss	($224,295)	($61,599)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	4,755	'
Expenses paid by third parties	74,612	'
Expenes paid by related parties	'	64,373
Imputed interest on debt	'	1,371
Changes in balances of assets and liabilities:	'	'
- Changes in accounts payable	27,673	-4,145
- Changes in accrued interest	38,358	'
- Due to related party	30,000	'
Net cash provided by (used) in operating activities	-48,897	'
Investing Activities	'	'
Purchase of software	-5,000	'
Net cash provided by investing activities	-5,000	'
Financing Activities	'	'
Proceeds from line of credit	30,000	'
Net cash provided by (used in) financing activities	30,000	'
Net decrease in cash	-23,897	'
Cash, beginning of year	25,856	'
Cash, end of year	1,959	'
SUPPLEMENTAL CASH FLOW DISCLOSURES	'	'
Cash paid for: Income taxes	'	'
Cash paid for: Interest	'	'
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES	'	'
Stock issued for conversion of notes payable	625,720	'
Stock issued for acquisition of software	$6,300	'

Note_1_Basis_of_Presentation_D

Note 1 - Basis of Presentation, Description of the Business	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Note 1 - Basis of Presentation, Description of the Business	'
	1.  BASIS OF PRESENTATION, DESCRIPTION OF THE BUSINESS
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of Gamzio Mobile, Inc. and Subsidiary have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SEC, including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive consolidated financial statements and should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2013, included in our Report on Form 10-K filed with the SEC on April 15, 2014.
	In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the nine month periods have been made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.
	Description of Business
	The Company, Gamzio Inc., began activity on January 13, 2012 and was formally incorporated under the laws of the State of Nevada on July 2, 2012 to innovate social casino games.
	On October 23, 2013, Gamzio, Inc., (the “Company”) entered into and consummated a voluntary share exchange transaction with , Marine Drive Mobile Corp., a Nevada corporation (“MDMC”) pursuant to a Share Exchange Agreement by and among the MDMC, Gamzio and the Selling Stockholder (the “Exchange Agreement”).  Marine Drive Mobile Corp. is involved in technology to do with customer loyalty programs.
	Effective November 15, 2013, the Company amended its Articles of Incorporation to change its name from “Marine Drive Mobile Corp.” to “Gamzio Mobile, Inc.”
	The Company operates in the technology industry with products in social and mobile casino gaming.

Note_2_Summary_of_Significant_

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Note 2 - Summary of Significant Accounting Policies	'
	2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Accounting Methods
	The Company recognizes income and expenses based on the accrual method of accounting.
	Principles of Consolidation
	The consolidated financial statements include the accounts of Gamzio Mobile, Inc. and I Like A Deal, LLC (ILAD). All significant intercompany balances and transactions have been eliminated in consolidation.
	Dividend Policy
	The Company has not yet adopted a policy regarding payment of dividends.
	Basic and Diluted Net Loss Per Share
	Basic net loss per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net loss per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes antidilutive and then the basic and diluted per share amounts are the same. At September 30, 2014 and 2013, we had no common stock equivalents outstanding.
	Evaluation of Long-Lived Assets
	The Company periodically reviews its long term assets for impairment and makes adjustments, if the carrying value exceeds fair value.
	Property and Equipment
	Property and equipment is stated at historical cost and depreciated over its estimated useful life.
	Furniture and Equipment
	Furniture and equipment is depreciated on a straight line basis over 3 years. Total depreciation expense for the nine months ended September 30, 2014 and 2013 was $1,275 and $0, respectively.
	Computer Equipment
	Computer equipment is depreciated on a straight line basis over 3 years. Total depreciation expense for the nine months ended September 30, 2014 and 2013 was $1,597 and $0, respectively.
	Computer Software
	Computer software is depreciated on a straight line basis over 3 years. Total depreciation expense for the nine months ended September 30, 2014 and 2013 was $1,883 and $0, respectively.
	Income Taxes
	The Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed. An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.
	Foreign Currency
	The books of the Company are maintained in United States dollars and this is the Company’s functional and reporting currency.  Translations denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statement of Operations:
	(i)	Monetary items are recorded at the rate of exchange prevailing as at the balance sheet date;
	(ii)	Non-Monetary items including equity are recorded at the historical rate of exchange; and
	(iii)	Revenues and expenses are recorded at the period average in which the transaction occurred.
	Revenue Recognition
	The Company earns revenue through consulting fees and from transaction fees it charges customers. Consulting fees are recorded in revenue when the service is completed. Transaction fees are recorded in revenue when a customer completes a purchase on the Company’s website and the related transaction fee is charged to the customer’s credit card.
	Advertising and Market Development
	The company expenses advertising and market development costs as incurred.
	Financial Instruments
	The carrying amounts of financial instruments are considered by management to be their fair value due to their short term maturities.
	Estimates and Assumptions
	Management uses estimates and assumptions in preparing financial statements in accordance with general accepted accounting principles.  Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.   Actual results could vary from the estimates that were assumed in preparing these financial statements.
	Statement of Cash Flows
	For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents.
	Reclassification
	Certain prior period amounts have been reclassified to conform to current period presentation. Amounts previously reported as “Advances from related parties” have been reclassified to “Due to related parties” on the balance sheet.
	Recent Accounting Pronouncements
	In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities (Topic 915):  Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The guidance eliminates the definition of a development stage entity thereby removing the incremental financial reporting requirements from U.S. GAAP for development stage entities, primarily presentation of inception to date financial information. The provisions of the amendments are effective for annual reporting periods beginning after December 15, 2014, and the interim periods therein. However, early adoption is permitted. Accordingly, the Company has adopted this standard as of June 30, 2014.
	The Company does not expect the adoption of any other recent accounting pronouncements will have a material impact on its financial statements.

Note_3_Line_of_Credit

Note 3 - Line of Credit	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 3 - Line of Credit	'
	3. LINE OF CREDIT
	On January 1, 2014 the Company entered into a line of credit agreement with a third party for up to $500,000 with interest at 10% per year. Also on January 1, 2014, this third party assumed $59,000 in Company debt and added it to the outstanding balance of this line of credit. During the nine months ended September 30, 2014, this third party paid expenses of $74,612 on behalf of the Company, which added to the outstanding balance on this line of credit. The Company also received $30,000 in cash from this line of credit during the nine months ended September 30, 2014. The balance owing under this line of credit, at September 30, 2014, was $163,612.

Note_4_Note_Payable

Note 4 - Note Payable	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Note 4 - Note Payable	'
	4. NOTE PAYABLE
	On October 23, 2013, as part of the share exchange agreement the Company acquired a convertible note payable of $363,162, plus accrued interest of $219,403. This note payable is convertible into stock at $0.05 per share and bears interest at 12% per year.
	During the nine months ended September 30, 2014 the lender converted the balance of the debt and interest into shares of common stock of the Company.
	The Company accrued related interest expense of $30,023 during the nine months ended September 30, 2014.

Note_5_Related_Party_Transacti

Note 5 - Related Party Transactions	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Note 5 - Related Party Transactions	'
	5. RELATED PARTY TRANSACTIONS
	During the three month period ended September 30, 2014, the CEO invoiced the Company for $30,000 for management services. This amount is recorded in “Due to related parties” on the balance sheet.

Note_6_Capital_Stock

Note 6 - Capital Stock	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Note 6 - Capital Stock	'
	6. CAPITAL STOCK
	On October 23, 2013, the Company issued 30,000,000 shares of common stock to the shareholders of Gamzio Mobile, Inc. in exchange for their 25,658,000 shares as part of the share exchange agreement.
	On May 21, 2014, the Company issued 15,000 shares of common stock for the acquisition of software. These shares were valued using the quoted price of $.42, on that date ($6,300).
	On May 28, 2014 the Company issued 2,000,000 shares of common stock to the holder of the convertible debt upon conversion of $500,000 of outstanding debt.
	On June 27, 2014 the Company issued 506,878 shares of common stock to the holder of the convertible debt upon conversion of the balance of the debt and interest owed, in the amount of $125,720.

Note_7_Going_Concern

Note 7 - Going Concern	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Note 7 - Going Concern	'
	7. GOING CONCERN
	The Company will need additional working capital to service its debt and for its planned activity, which raises substantial doubt about its ability to continue as a going concern.   Continuation of the Company as a going concern is dependent upon obtaining additional working capital and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding, and long term financing, which will enable the Company to operate for the coming year.

Note_8_Subsequent_event

Note 8 - Subsequent event	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Note 8 - Subsequent event	'
	8 - SUBSEQUENT EVENTS
	On November 7, 2014, the Company decreased its authorized common shares to 59,000,000.

Note_2_Summary_of_Significant_1

Note 2 - Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Accounting Methods	'
	Accounting Methods
	The Company recognizes income and expenses based on the accrual method of accounting.
Principles of Consolidation	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of Gamzio Mobile, Inc.  and  I Like A Deal, LLC (ILAD). All significant intercompany balances and transactions have been eliminated in consolidation.
Dividend Policy	'
	Dividend Policy
	The Company has not yet adopted a policy regarding payment of dividends.
Basic and Diluted Net Loss Per Share	'
	Basic and Diluted Net Loss Per Share
	Basic net loss per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net loss per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes antidilutive and then the basic and diluted per share amounts are the same. At September 30, 2014 and 2013, we had no common stock equivalents outstanding.
Evaluation of Long-Lived Assets	'
	Evaluation of Long-Lived Assets
	The Company periodically reviews its long term assets for impairment and makes adjustments, if the carrying value exceeds fair value.
Property and Equipment	'
	Property and Equipment
	Property and equipment is stated at historical cost and depreciated over its estimated useful life.
	Furniture and Equipment
	Furniture and equipment is depreciated on a straight line basis over 3 years. Total depreciation expense for the nine months ended September 30, 2014 and 2013 was $1,275 and $0, respectively.
	Computer Equipment
	Computer equipment is depreciated on a straight line basis over 3 years. Total depreciation expense for the nine months ended September 30, 2014 and 2013 was $1,597 and $0, respectively.
	Computer Software
	Computer software is depreciated on a straight line basis over 3 years. Total depreciation expense for the nine months ended September 30, 2014 and 2013 was $1,883 and $0, respectively.
Income Taxes	'
	Income Taxes
	The Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed. An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.
Foreign Currency	'
	Foreign Currency
	The books of the Company are maintained in United States dollars and this is the Company’s functional and reporting currency.  Translations denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statement of Operations:
	(i)	Monetary items are recorded at the rate of exchange prevailing as at the balance sheet date;
	(ii)	Non-Monetary items including equity are recorded at the historical rate of exchange; and
	(iii)	Revenues and expenses are recorded at the period average in which the transaction occurred.
Revenue Recognition	'
	Revenue Recognition
	The Company earns revenue through consulting fees and from transaction fees it charges customers. Consulting fees are recorded in revenue when the service is completed. Transaction fees are recorded in revenue when a customer completes a purchase on the Company’s website and the related transaction fee is charged to the customer’s credit card.
Advertising and Market Development	'
	Advertising and Market Development
	The company expenses advertising and market development costs as incurred.
Financial Instruments	'
	Financial Instruments
	The carrying amounts of financial instruments are considered by management to be their fair value due to their short term maturities.
Estimates and Assumptions	'
	Estimates and Assumptions
	Management uses estimates and assumptions in preparing financial statements in accordance with general accepted accounting principles.  Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.   Actual results could vary from the estimates that were assumed in preparing these financial statements.
Statement of Cash Flows	'
	Statement of Cash Flows
	For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents.
Reclassification	'
	Reclassification
	Certain prior period amounts have been reclassified to conform to current period presentation. Amounts previously reported as “Advances from related parties” have been reclassified to “Due to related parties” on the balance sheet.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities (Topic 915):  Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The guidance eliminates the definition of a development stage entity thereby removing the incremental financial reporting requirements from U.S. GAAP for development stage entities, primarily presentation of inception to date financial information. The provisions of the amendments are effective for annual reporting periods beginning after December 15, 2014, and the interim periods therein. However, early adoption is permitted. Accordingly, the Company has adopted this standard as of June 30, 2014.
	The Company does not expect the adoption of any other recent accounting pronouncements will have a material impact on its financial statements.

Note_2_Summary_of_Significant_2

Note 2 - Summary of Significant Accounting Policies (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Accounting Policies [Abstract]	'	'
Depreciation Furniture and Equipment, Term	3	'
Depreciation expense, furniture and equipment	$1,275	$0
Depreciation, Computer Equipment, term	3	'
Accumulated Depreciation, Computer Equipment	1,597	0
Depreciation, Computer Software, term	3	'
Accumulated Depreciation, Computer Software	$1,883	$0

Note_3_Line_of_Credit_Details_

Note 3 - Line of Credit (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jan. 02, 2014
Notes to Financial Statements	'	'	'
Credit facility, maximum borrowing amount	'	'	$500,000
Credit facility interest rate PA	'	'	10.00%
Debt assumed by third party added to credit facility	'	'	59,000
Credit facility, outstanding balance	163,612	'	'
Expenses paid by third party added to credit facility	74,612	'	'
Cash received in period under credit facility	$30,000	'	'

Note_4_Note_Payable_Details_Na

Note 4 - Note Payable (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2014	Oct. 23, 2013
Convertible Note Payable Acquired Upon Share Exchange Agreement	'	'
Convertible note payable	'	$363,162
Accrued interest, convertible note payable, on acquisition	'	219,403
Conversion price per share, convertible note payable	'	$0.05
Interest rate	'	12.00%
Accrued interest in period	$30,023	'

Note_5_Related_Party_Transacti1

Note 5 - Related Party Transactions (Details Narrative) (USD $)	3 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Management fees invoiced in period	$30,000

Note_6_Capital_Stock_Details_N

Note 6 - Capital Stock (Details Narrative) (USD $)	Jun. 27, 2014	28-May-14	21-May-14	Oct. 23, 2013
Equity [Abstract]	'	'	'	'
Shares issued software acquisition	'	'	15,000	'
Price per share	'	'	$0.42	'
Value shares issued, software acquisition	'	'	$6,300	'
Shares Issued to Shareholders of Gamzio Mobile Inc.	'	'	'	30,000,000
Shares acquired, Gamzio Mobile Inc.	'	'	'	25,658,000
Shares issued on conversion of debt	506,878	2,000,000	'	'
Debt conversion, amount	$125,720	$500,000	'	'

Note_8_Subsequent_event_Detail

Note 8 - Subsequent event (Details Narrative)	Nov. 07, 2014	Sep. 30, 2014	Dec. 31, 2013
Subsequent Events [Abstract]	'	'	'
Common stock, shares authorized	59,000,000	59,000,000	59,000,000