Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Nov. 26, 2013 | Mar. 31, 2013 | |
Document And Entity Information | ' | ' | ' |
Entity Registrant Name | 'Sunrise Holdings LTD | ' | ' |
Entity Central Index Key | '0001394130 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
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 Public Float | ' | ' | $31,698 |
Entity Common Stock, Shares Outstanding | ' | 6,882,273 | ' |
Document Fiscal Period Focus | 'Q4 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Balance_Sheets
Balance Sheets (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Current assets: | ' | ' |
Cash | $2,242 | $809 |
Total current assets | 2,242 | 809 |
TOTAL ASSETS | 2,242 | 809 |
Current liabilities: | ' | ' |
Accounts payable | ' | 1,794 |
Advances from company officers | 34,836 | 21,036 |
Total Current Liabilities | 34,836 | 22,830 |
TOTAL LIABILITIES | 34,836 | 22,830 |
Stockholders' Equity: | ' | ' |
Preferred Stock, $.001 par value; 10,000,000 shares authorized,10,000,000 shares issued and outstanding | 10,000 | 10,000 |
Common Stock, $.001 par value; 190,000,000 shares authorized, 6,882,273 shares issued and outstanding | 6,882 | 6,882 |
Additional paid-in capital | 168,065 | 168,065 |
Deficit accumulated during the development stage | -217,541 | -206,968 |
Total Stockholders' Equity (Deficit) | -32,594 | -22,021 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $2,242 | $809 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred Stock, par value | $0.00 | $0.00 |
Preferred Stock, share authorized | 10,000,000 | 10,000,000 |
Preferred Stock, share issued | 10,000,000 | 10,000,000 |
Preferred Stock, share outstanding | 10,000,000 | 10,000,000 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, share authorized | 190,000,000 | 190,000,000 |
Common Stock, share issued | 6,882,273 | 6,882,273 |
Common Stock, share outstanding | 6,882,273 | 6,882,273 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 95 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Expenses: | ' | ' | ' |
Exploration costs | ' | ' | $37,956 |
General and administrative expenses | 10,573 | 10,138 | 242,128 |
Total Operating Expenses | 10,573 | 10,138 | 280,084 |
Net operating loss | -10,573 | -10,138 | -280,084 |
Other Income (Expense) | ' | ' | ' |
Interest income | ' | ' | 64,960 |
Gain on extinguishment of accounts payable | ' | ' | 5,668 |
Interest expense | ' | ' | -8,085 |
Total Other Income and (Expense) | ' | ' | 62,543 |
Net Loss | ($10,573) | ($10,138) | ($217,541) |
Net Loss per Common Share - Basic and Diluted | $0 | $0 | ' |
Per Share Information: | ' | ' | ' |
Weighted Average Number of Common Stock Shares Outstanding - Basic and Diluted | 6,882,273 | 6,882,273 | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 95 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Cash Flows from Operating Activities: | ' | ' | ' |
Net Loss | ($10,573) | ($10,138) | ($217,541) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Stocks issued for services | ' | ' | 68,031 |
Deprecation | ' | ' | 3,795 |
Gain on extinguishment of accounts payable | ' | ' | -5,668 |
Imputed interest on shareholder advance | ' | ' | 2,711 |
Increase (decrease) in interest receivable | ' | ' | -33,259 |
Increase (decrease) in accounts payable | -1,794 | 298 | 5,668 |
Net Cash Flows Used in Operating Activities | -12,367 | -9,840 | -176,263 |
Cash Flows from Investing Activities: | ' | ' | ' |
Purchase of assets | ' | ' | -1,795 |
Net Cash Flows Used in Investing Activities | ' | ' | -1,795 |
Cash Flows from Financing Activities: | ' | ' | ' |
Stocks issued for cash | ' | ' | 3,045,464 |
Shares Rescinded | ' | ' | -2,400,000 |
Issuance of note receivable | ' | ' | -500,000 |
Advance from company officer | 13,800 | 10,000 | 34,836 |
Net Cash Flows Provided by Financing Activities | 13,800 | 10,000 | 180,300 |
Net Increase (Decrease) in Cash | 1,433 | 160 | 2,242 |
Cash and cash equivalents - Beginning of period | 809 | 649 | ' |
Cash and cash equivalents - End of period | 2,242 | 809 | 2,242 |
SUPPLEMENTARY INFORMATION | ' | ' | ' |
Interest Paid | ' | ' | ' |
Taxes Paid | ' | ' | ' |
Supplement disclosure of non cash investing and financing activities: | ' | ' | ' |
Reduction of note in connection with share rescission | ' | ' | $500,000 |
Shareholders_Equity
Shareholders Equity (USD $) | Preferred Stock | Common Stock | Subscription Receivable | Additional Paid-In Capital | Accumulated (Deficit) During the Developtment Stage | Total |
Beginning balance, value at Oct. 24, 2005 | ' | ' | ' | ' | ' | ' |
Beginning balance, share at Oct. 24, 2005 | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, share | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, share | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock, share | ' | 100,000 | ' | ' | ' | ' |
Issuance of common stock, value | ' | 100 | ' | 45,364 | ' | 45,464 |
Issuance of common stock for services, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | ' | ' | ' | ' | ' |
Imputed interest on shareholer advance | ' | ' | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | ' | -45,464 | -45,464 |
Balance, value at Sep. 30, 2006 | ' | 100 | ' | 45,364 | -45,464 | ' |
Subscription receivable at Sep. 30, 2006 | ' | ' | ' | ' | ' | ' |
Balance, share at Sep. 30, 2006 | ' | 100,000 | ' | ' | ' | ' |
Issuance of preferred stock, share | 10,000,000 | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | 10,000 | ' | ' | -10,000 | ' | ' |
Cancellation of common stock, share | ' | -100,000 | ' | ' | ' | ' |
Cancellation of common stock, value | ' | -100 | ' | 100 | ' | ' |
Issuance of common stock, share | ' | 5,785,090 | ' | ' | ' | ' |
Issuance of common stock, value | ' | 5,785 | ' | -5,785 | ' | ' |
Issuance of common stock for services, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | ' | ' | ' | ' | ' |
Imputed interest on shareholer advance | ' | ' | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | ' | -93,540 | -93,540 |
Balance, value at Sep. 30, 2007 | 10,000 | 5,785 | ' | 29,679 | -139,004 | -93,540 |
Subscription receivable at Sep. 30, 2007 | ' | ' | ' | ' | ' | ' |
Balance, share at Sep. 30, 2007 | 10,000,000 | 5,785,090 | ' | ' | ' | ' |
Issuance of preferred stock, share | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, share | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock, share | ' | 75,000,000 | ' | ' | ' | ' |
Issuance of common stock, value | ' | 75,000 | ' | 2,925,000 | ' | 3,000,000 |
Issuance of common stock for services, share | ' | 497,183 | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | 497 | ' | 45,334 | ' | 45,831 |
Imputed interest on shareholer advance | ' | ' | ' | 2,711 | ' | 2,711 |
Net loss for the year | ' | ' | ' | ' | -7,073 | -7,073 |
Balance, value at Sep. 30, 2008 | 10,000 | 81,282 | -526,507 | 3,002,724 | -146,077 | 2,421,423 |
Subscription receivable at Sep. 30, 2008 | ' | ' | -526,507 | ' | ' | -526,507 |
Balance, share at Sep. 30, 2008 | 10,000,000 | 81,282,273 | ' | ' | ' | ' |
Issuance of preferred stock, share | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, share | ' | -75,000,000 | ' | ' | ' | ' |
Cancellation of common stock, value | ' | -75,000 | ' | -2,856,259 | ' | -2,931,259 |
Issuance of common stock, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock for services, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | ' | ' | ' | ' | ' |
Imputed interest on shareholer advance | ' | ' | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | ' | -3,538 | -3,538 |
Balance, value at Sep. 30, 2009 | 10,000 | 6,282 | ' | 146,465 | -149,614 | 13,133 |
Subscription receivable at Sep. 30, 2009 | ' | ' | 526,507 | ' | ' | 526,507 |
Balance, share at Sep. 30, 2009 | 10,000,000 | 6,282,273 | ' | ' | ' | ' |
Issuance of preferred stock, share | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, share | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock for services, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | ' | ' | ' | ' | ' |
Imputed interest on shareholer advance | ' | ' | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | ' | -12,669 | -12,669 |
Balance, value at Sep. 30, 2010 | 10,000 | 6,282 | ' | 146,465 | -162,283 | 464 |
Subscription receivable at Sep. 30, 2010 | ' | ' | ' | ' | ' | ' |
Balance, share at Sep. 30, 2010 | 10,000,000 | 6,282,273 | ' | ' | ' | ' |
Issuance of preferred stock, share | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, share | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock for services, share | ' | 600,000 | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | 600 | ' | 21,600 | ' | 22,200 |
Imputed interest on shareholer advance | ' | ' | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | ' | -34,547 | -34,547 |
Balance, value at Sep. 30, 2011 | 10,000 | 6,882 | ' | 168,065 | -196,830 | -11,883 |
Subscription receivable at Sep. 30, 2011 | ' | ' | ' | ' | ' | ' |
Balance, share at Sep. 30, 2011 | 10,000,000 | 6,882,273 | ' | ' | ' | ' |
Issuance of preferred stock, share | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, share | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock for services, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | ' | ' | ' | ' | ' |
Imputed interest on shareholer advance | ' | ' | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | ' | -10,138 | -10,138 |
Balance, value at Sep. 30, 2012 | 10,000 | 6,882 | ' | 168,065 | -206,968 | -22,021 |
Subscription receivable at Sep. 30, 2012 | ' | ' | ' | ' | ' | ' |
Balance, share at Sep. 30, 2012 | 10,000,000 | 6,882,273 | ' | ' | ' | ' |
Issuance of preferred stock, share | ' | ' | ' | ' | ' | ' |
Issuance of preferred stock, value | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, share | ' | ' | ' | ' | ' | ' |
Cancellation of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock, value | ' | ' | ' | ' | ' | ' |
Issuance of common stock for services, share | ' | ' | ' | ' | ' | ' |
Issuance of common stock fro services, value | ' | ' | ' | ' | ' | ' |
Imputed interest on shareholer advance | ' | ' | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | ' | -10,573 | -10,573 |
Balance, value at Sep. 30, 2013 | 10,000 | 6,882 | ' | 168,065 | -217,541 | -32,594 |
Subscription receivable at Sep. 30, 2013 | ' | ' | ' | ' | ' | ' |
Balance, share at Sep. 30, 2013 | 10,000,000 | 6,882,273 | ' | ' | ' | ' |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 1 - Summary of Significant Accounting Policies | |
Sunrise Holdings Limited (formerly Sunrise Mining Corporation) is an exploration stage company which was incorporated on October 25, 2005 in the State of Nevada. The Company was a mining resource company focused on the exploration and advancement of premium base and precious metal assets. The Company previously had two properties in Mongolia where it had options to earn 100% of the mineral rights and to purchase the royalties outright. These two properties were transferred to the Company from its former parent, Magnum d'Or Resources Inc., in October 2005. | |
During December 2006, the former parent of Sunrise formed Oriental Magnum, Inc. ("Oriental") in Mongolia. Subsequent to Oriental's incorporation, the former parent of Sunrise transferred the titles for both the Khul Morit license and the Shandi license to the name of Oriental in January 2007. On September 28, 2007, the Company decided not to renew its Shandi license for business reasons. | |
On March 27, 2008, Sunrise amended its article of incorporation to change its name from “Sunrise Mining Corporation” to “Sunrise Holdings Limited” because the operations of the Company will be more diversified and expanded in the future and therefore a new corporate name is appropriate. | |
On February 5, 2008, Sunrise incorporated a new wholly owned subsidiary named “eFuture International Limited” in British Virgin Islands. The Company intended to conduct its business through this new subsidiary. | |
On May 5, 2008, Sunrise decided to abandon and terminate its mining rights in its Khul Morit undeveloped mining properties because it had determined that the substantial costs of additional exploratory drilling and geological testing and evaluation would not be desirable for the Company. Because of this, the Company decided not to renew its Mongolia subsidiary “Oriental Magnum Limited” . | |
On March 2, 2009, the Board of Directors of Sunrise approved the sale of all the Common Stock of eFuture International Limited to the Chief Executive Officer of the Company for $2,000. At the closing day of the sale, eFuture had no assets and liabilities. | |
The Company is currently seeking other business opportunities. | |
Basis of Presentation | |
The Company follows accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. | |
Use of Estimates | |
The preparation of the 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 amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates | |
Cash and Cash Equivalents | |
For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of September 30, 2013 and 2012, there were no cash equivalents. | |
Impairment of Long Lived Assets | |
The Company has adopted Accounting Standards Codification subtopic 360-10, Property, Plant and Equipment (“ASC 360-10”). ASC 360-10 requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates its long lived assets for impairment annually or more often if events and circumstances warrant. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses, or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of intangible assets will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset. ASC 360-10 also requires assets to be disposed of be reported at the lower of the carrying amount or the fair value less costs to sell. | |
Fair Value of Financial Instruments | |
Pursuant to ASC 820, Fair Value Measurements and Disclosures and ASC 825, Financial Instruments, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 and 825 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 and 825 prioritizes the inputs into three levels that may be used to measure fair value: | |
Level 1 | |
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. | |
Level 2 | |
Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. | |
Level 3 | |
Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. | |
The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, and amounts due to related parties. Pursuant to ASC 820 and 825, the fair value of our cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. | |
Income Taxes | |
The Company has adopted Accounting Standards Codification subtopic 740-10, Income Taxes (“ASC 740-10”) which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Temporary differences between taxable income reported for financial reporting purposes and income tax purposes are insignificant. | |
There was no current or deferred income tax expense or benefits for the periods ending September 30, 2013 and 2012. | |
Basic and Diluted Net Loss Per Common Share | |
The Company computes net loss per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. | |
Stock Based Compensation | |
Effective for the year beginning January 1, 2006, the Company has adopted Accounting Standards Codification subtopic 718-10, Compensation (“ASC 718-10”) which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. Pro-forma disclosure is no longer an alternative. The Company implemented ASC 718-10 on January 1, 2006 using the modified prospective method . | |
The Company did not grant any stock options during the period ended September 30, 2013 and 2012. | |
Recent Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-11: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The new guidance requires that unrecognized tax benefits be presented on a net basis with the deferred tax assets for such carryforwards. This new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2013. We do not expect the adoption of the new provisions to have a material impact on our financial condition or results of operations. | |
In February 2013, FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to: | |
Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and | |
Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense. | |
The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected to have a material impact on our financial position or results of operations. | |
In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs. Like ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations. | |
In October 2012, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2012-04, “Technical Corrections and Improvements” in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations. | |
In August 2012, the FASB issued ASU 2012-03, “Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010-22 (SEC Update)” in Accounting Standards Update No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on our financial position or results of operations. | |
In July 2012, the FASB issued ASU 2012-02, “Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment” in Accounting Standards Update No. 2012-02. This update amends ASU 2011-08, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment and permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350-30, Intangibles - Goodwill and Other - General Intangibles Other than Goodwill . The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted, including for annual and interim impairment tests performed as of a date before July 27, 2012, if a public entity’s financial statements for the most recent annual or interim period have not yet been issued or, for nonpublic entities, have not yet been made available for issuance. The adoption of ASU 2012-02 is not expected to have a material impact on our financial position or results of operations. |
Going_Concern
Going Concern | 12 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Going Concern | ' |
Note 2 - Going Concern | |
Sunrise's financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business for the foreseeable future. Since inception, the Company has accumulated losses aggregating to $217,541 and has insufficient working capital to meet operating needs for the next twelve months as of September 30, 2013, all of which raise substantial doubt about Sunrise's ability to continue as a going concern. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
Note 3 - Income Taxes | |||||||||
There has been no provision for U.S. federal, state, or foreign income taxes for any period because the Company has incurred losses from inception. | |||||||||
At September 30, 2013, the Company had US net operating loss carry forwards of approximately $217,541 for federal income tax purposes. | |||||||||
Deferred tax assets and liabilities are comprised of the following as of September 30, 2013: | |||||||||
Deferred income tax assets: | September 30, 2013 | 30-Sep-12 | |||||||
Tax effect of net operating loss carryforward | $ | 73,964 | $ | 70,369 | |||||
Valuation allowance | -73,964 | (70,369 | ) | ||||||
Net deferred tax asset | $ | - | $ | - | |||||
Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. Accordingly, the net deferred tax assets have been fully offset by a valuation allowance. As of September 30, 2013, the Company had net operating loss carry forward of approximately $217,541 for federal and state income tax purposes. These carry forwards, if not utilized to offset taxable income will begin expiring in 2027. Utilization of the net operating loss may be subject to substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. The annual limitation could result in the expiration of the net operating loss before utilization. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Note 4 - Related Party Transactions | |
For the twelve months ended September 30, 2013, Mr. Xuguang Sun, an officer and director of the Company, advanced $2,500 to the Company. These advances are unsecured, non-interest bearing and have no fixed terms of repayment. | |
For the twelve months ended September 30, 2013, Mr. Shaojun Sun, an officer and director of the Company, advanced $11,300 to the Company. These advances are unsecured, non-interest bearing and have no fixed terms of repayment. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 5 – Subsequent Events | |
There have been no subsequent events through the date of this filing. | |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Note 1 - Summary of Significant Accounting Policies | ' |
Note 1 - Summary of Significant Accounting Policies | |
Sunrise Holdings Limited (formerly Sunrise Mining Corporation) is an exploration stage company which was incorporated on October 25, 2005 in the State of Nevada. The Company was a mining resource company focused on the exploration and advancement of premium base and precious metal assets. The Company previously had two properties in Mongolia where it had options to earn 100% of the mineral rights and to purchase the royalties outright. These two properties were transferred to the Company from its former parent, Magnum d'Or Resources Inc., in October 2005. | |
During December 2006, the former parent of Sunrise formed Oriental Magnum, Inc. ("Oriental") in Mongolia. Subsequent to Oriental's incorporation, the former parent of Sunrise transferred the titles for both the Khul Morit license and the Shandi license to the name of Oriental in January 2007. On September 28, 2007, the Company decided not to renew its Shandi license for business reasons. | |
On March 27, 2008, Sunrise amended its article of incorporation to change its name from “Sunrise Mining Corporation” to “Sunrise Holdings Limited” because the operations of the Company will be more diversified and expanded in the future and therefore a new corporate name is appropriate. | |
On February 5, 2008, Sunrise incorporated a new wholly owned subsidiary named “eFuture International Limited” in British Virgin Islands. The Company intended to conduct its business through this new subsidiary. | |
On May 5, 2008, Sunrise decided to abandon and terminate its mining rights in its Khul Morit undeveloped mining properties because it had determined that the substantial costs of additional exploratory drilling and geological testing and evaluation would not be desirable for the Company. Because of this, the Company decided not to renew its Mongolia subsidiary “Oriental Magnum Limited” . | |
On March 2, 2009, the Board of Directors of Sunrise approved the sale of all the Common Stock of eFuture International Limited to the Chief Executive Officer of the Company for $2,000. At the closing day of the sale, eFuture had no assets and liabilities. | |
The Company is currently seeking other business opportunities. | |
Basis of Presentation | |
The Company follows accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of the 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 amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of September 30, 2013 and 2012, there were no cash equivalents. | |
Impairment of Long Lived Assets | ' |
Impairment of Long Lived Assets | |
The Company has adopted Accounting Standards Codification subtopic 360-10, Property, Plant and Equipment (“ASC 360-10”). ASC 360-10 requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates its long lived assets for impairment annually or more often if events and circumstances warrant. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses, or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of intangible assets will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset. ASC 360-10 also requires assets to be disposed of be reported at the lower of the carrying amount or the fair value less costs to sell. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
Pursuant to ASC 820, Fair Value Measurements and Disclosures and ASC 825, Financial Instruments, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 and 825 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 and 825 prioritizes the inputs into three levels that may be used to measure fair value: | |
Level 1 | |
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. | |
Level 2 | |
Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. | |
Level 3 | |
Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. | |
The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, and amounts due to related parties. Pursuant to ASC 820 and 825, the fair value of our cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. | |
Income Taxes | ' |
Income Taxes | |
The Company has adopted Accounting Standards Codification subtopic 740-10, Income Taxes (“ASC 740-10”) which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Temporary differences between taxable income reported for financial reporting purposes and income tax purposes are insignificant. | |
There was no current or deferred income tax expense or benefits for the periods ending September 30, 2013 and 2012. | |
Basic and Diluted Net Loss Per Common Share | ' |
Basic and Diluted Net Loss Per Common Share | |
The Company computes net loss per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. | |
Stock Based Compensation | ' |
Stock Based Compensation | |
Effective for the year beginning January 1, 2006, the Company has adopted Accounting Standards Codification subtopic 718-10, Compensation (“ASC 718-10”) which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. Pro-forma disclosure is no longer an alternative. The Company implemented ASC 718-10 on January 1, 2006 using the modified prospective method . | |
The Company did not grant any stock options during the period ended September 30, 2013 and 2012. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-11: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The new guidance requires that unrecognized tax benefits be presented on a net basis with the deferred tax assets for such carryforwards. This new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2013. We do not expect the adoption of the new provisions to have a material impact on our financial condition or results of operations. | |
In February 2013, FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to: | |
Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and | |
Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense. | |
The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected to have a material impact on our financial position or results of operations. | |
In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs. Like ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations. | |
In October 2012, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2012-04, “Technical Corrections and Improvements” in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations. | |
In August 2012, the FASB issued ASU 2012-03, “Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010-22 (SEC Update)” in Accounting Standards Update No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on our financial position or results of operations. | |
In July 2012, the FASB issued ASU 2012-02, “Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment” in Accounting Standards Update No. 2012-02. This update amends ASU 2011-08, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment and permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350-30, Intangibles - Goodwill and Other - General Intangibles Other than Goodwill . The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted, including for annual and interim impairment tests performed as of a date before July 27, 2012, if a public entity’s financial statements for the most recent annual or interim period have not yet been issued or, for nonpublic entities, have not yet been made available for issuance. The adoption of ASU 2012-02 is not expected to have a material impact on our financial position or results of operations. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Deferred income tax assets | ' | ||||||||
Deferred income tax assets: | September 30, 2013 | 30-Sep-12 | |||||||
Tax effect of net operating loss carryforward | $ | 73,964 | $ | 70,369 | |||||
Valuation allowance | -73,964 | (70,369 | ) | ||||||
Net deferred tax asset | $ | - | $ | - |
Going_Concern_Details_Narrativ
Going Concern (Details Narrative) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' |
Deficit accumulated during the development stage | ($217,541) | ($206,968) |
Income_Taxes_Deferred_income_t
Income Taxes - Deferred income tax assets (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Tax effect of net operating loss carryforward | $73,964 | $70,369 |
Valuation allowance | -73,964 | -70,369 |
Net deferred tax asset | ' | ' |
Income_Taxes_Details_Narrative
Income Taxes (Details Narrative) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Deficit accumulated during the development stage | ($217,541) | ($206,968) |