Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 28, 2016 | Jun. 30, 2015 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Digital Development Partners, Inc. | ||
Entity Central Index Key | 1,409,999 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 100,500 | ||
Trading Symbol | DGDM | ||
Entity Common Stock, Shares Outstanding | 85,970,665 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Current Assets | ||
Cash | $ 12,455 | $ 22,628 |
Total Assets | 12,455 | 22,628 |
Current Liabilities | ||
Accounts Payable and Accrued Liabilities | 123,891 | 91,594 |
Loan Payable - Related Party | 570,000 | 500,000 |
Total Liabilities | 693,891 | 591,594 |
Stockholders' Deficit | ||
Common Stock, $0.001 par value; authorized 225,000,000 shares; issued and outstanding 85,970,665 shares of December 31, 2015 and 2014 | 85,971 | 85,971 |
Additional Paid-In Capital | 7,488,946 | 7,488,946 |
Accumulated Deficit | (8,256,353) | (8,143,883) |
Total Stockholders' Deficit | (681,436) | (568,966) |
Total Liabilities and Stockholders' Deficit | $ 12,455 | $ 22,628 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 225,000,000 | 225,000,000 |
Common Stock, Shares, Issued | 85,970,665 | 85,970,665 |
Common Stock, Shares, Outstanding | 85,970,665 | 85,970,665 |
Statement of Operations
Statement of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating expenses | $ (85,916) | $ (76,810) |
Loss from Operations | (85,916) | (76,810) |
Interest Expense | (26,554) | (22,709) |
Net Loss | $ (112,470) | $ (99,519) |
Basic and diluted loss per common share (in dollars per share) | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding (in shares) | 85,970,665 | 85,970,665 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (112,470) | $ (99,519) |
Change in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 32,297 | 17,963 |
Net cash used by operating activities | (80,173) | (81,556) |
Cash flows from financing activities: | ||
Proceeds of loan payable from related party | 70,000 | 80,000 |
Net cash provided by financing activities | 70,000 | 80,000 |
Net increase (decrease) in cash | (10,173) | (1,556) |
Cash, beginning of the period | 22,628 | 24,184 |
Cash, end of the period | 12,455 | 22,628 |
Supplemental cash flow disclosure: | ||
Interest paid | 0 | 0 |
Taxes paid | $ 0 | $ 0 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] |
Balance at Dec. 31, 2013 | $ (469,446) | $ 85,971 | $ 7,488,946 | $ (8,044,363) |
Balance (in shares) at Dec. 31, 2013 | 85,970,665 | |||
Net loss for the year | (99,519) | $ 0 | 0 | (99,519) |
Balance at Dec. 31, 2014 | (568,966) | $ 85,971 | 7,488,946 | (8,143,883) |
Balance (in Shares) at Dec. 31, 2014 | 85,970,665 | |||
Net loss for the year | (112,470) | $ 0 | 0 | (112,470) |
Balance at Dec. 31, 2015 | $ (681,436) | $ 85,971 | $ 7,488,946 | $ (8,256,353) |
Balance (in Shares) at Dec. 31, 2015 | 85,970,665 |
Basis of Presentation and Natur
Basis of Presentation and Nature of Operations | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Description and Basis of Presentation [Text Block] | 1. Basis of Presentation and Nature of Operations These financial statements as of and for the twelve months ended December 31, 2015 and 2014 reflect all adjustments which, in the opinion of management, are necessary to fairly state the Company’s financial position and the results of its operations for the periods presented, in accordance with the accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature. Organization The Company was incorporated as Cyprium Resources, Inc. under the laws of the State of Nevada December 22, 2006. The Company was originally formed for mineral exploration in the United States. On May 19, 2009 the Company’s name was changed to Digital Development Partners, Inc. A reassessment of the Company’s direction resulted in a reorganization plan on February 17, 2010 which included: 1. Acquisition of a new line of technology through the acquisition of the worldwide distribution and servicing rights to a cell phone enterprise based in Hong Kong; 2. Change in management; 3. Sale of the Company’s option on Top Floor Studio; 4. Distribution of the Company’s shares in YuDeal, Inc. to the stockholders. Pursuant to the plan, the Company’s interests in Top Floor Studio and YuDeal Inc. were disposed of in February, 2010. The Company’s option on Top Floor was sold to YuDeal, Inc. for YuDeal common stock, which in turn was traded for 20,095,000 In conjunction with the reorganization the management team of the Company resigned. The Company’s president, Isaac Roberts, was replaced by Jack Jie Quin, president of EFT Biotech Holding Inc. EFT Biotech Holding Inc. is the majority stockholder of Digital Development Partners Inc. The Company is a development stage company. |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Going Concern | 12 Months Ended |
Dec. 31, 2015 | |
Notes To Financial Statements Abstract [Abstract] | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies and Going Concern The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company also has a working capital deficit as of December 31, 2015. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s activities will necessitate significant uses of working capital beyond 2015. Additionally, the Company’s capital requirements will depend on many factors, including the success of the Company’s researching for new markets. The Company plans to continue financing its operations with cash received from financing activities, more specifically from related party loans. While the Company strongly believes that its capital resources will be sufficient in the near term, there is no assurance that the Company’s activities will generate sufficient revenues to sustain its operations without additional capital or if additional capital is needed, that such funds, if available, will be obtainable on terms satisfactory to the Company. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. Cash and equivalents include investments with initial maturities of three months or less. The Company had no cash equivalents as of December 31, 2015 and 2014. The Company accounts for income taxes utilizing ASC 740, “Income Taxes” (SFAS No. 109). ASC 740 requires the measurement of deferred tax assets for deductible temporary differences and operating loss carry forwards, and of deferred tax liabilities for taxable temporary differences. Measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. The effects of future changes in tax laws or rates are not included in the measurement. The Company recognizes the amount of taxes payable or refundable for the current year and recognizes deferred tax liabilities and assets for the expected future tax consequences of events and transactions that have been recognized in the Company’s financial statements or tax returns. The Company currently has substantial net operating loss carry forwards. The Company has recorded a 100% valuation allowance against net deferred tax assets due to uncertainty of their ultimate realization. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Net loss per share is calculated in accordance with ASC 260, Earnings per Share, for the period presented. Basic net loss per share is based upon the weighted average number of common shares outstanding. Diluted net loss per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There is no potential dilutive security as of December 31, 2015. As there was a net loss for the period, basic and diluted loss per share is the same for the twelve months ended December 31, 2015 and 2014, respectively. A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company's financial statements. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | 3. Related Party Transactions December 31, December 31, 2015 2014 Loan payable to related party EFT Holdings, Inc. $ 570,000 $ 500,000 A promissory note was issued to EFT Holdings Inc. since 2010. A series of advances was received from EFT Holdings during the fiscal year ended December 31, 2015 and 2014 totaling $ 70,000 80,000 5 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 4. Income Taxes No provision was made for federal income tax for the year ended December 31, 2015, since the Company had net operating losses. The Company has available net operating loss carry-forward of approximately $ 868,876 2029 0 As of December 31, 2015 2014 Deferred tax assets: Net operating loss carryforwards $ 304,107 $ 257,178 Less: valuation allowance (304,107) (257,178) Net deferred tax assets $ $ |
Summary of Significant Accoun11
Summary of Significant Accounting Policies and Going Concern (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Going Concern [Policy Text Block] | Going Concern The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company also has a working capital deficit as of December 31, 2015. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s activities will necessitate significant uses of working capital beyond 2015. Additionally, the Company’s capital requirements will depend on many factors, including the success of the Company’s researching for new markets. The Company plans to continue financing its operations with cash received from financing activities, more specifically from related party loans. While the Company strongly believes that its capital resources will be sufficient in the near term, there is no assurance that the Company’s activities will generate sufficient revenues to sustain its operations without additional capital or if additional capital is needed, that such funds, if available, will be obtainable on terms satisfactory to the Company. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash equivalents Cash and equivalents include investments with initial maturities of three months or less. The Company had no cash equivalents as of December 31, 2015 and 2014. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes utilizing ASC 740, “Income Taxes” (SFAS No. 109). ASC 740 requires the measurement of deferred tax assets for deductible temporary differences and operating loss carry forwards, and of deferred tax liabilities for taxable temporary differences. Measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. The effects of future changes in tax laws or rates are not included in the measurement. The Company recognizes the amount of taxes payable or refundable for the current year and recognizes deferred tax liabilities and assets for the expected future tax consequences of events and transactions that have been recognized in the Company’s financial statements or tax returns. The Company currently has substantial net operating loss carry forwards. The Company has recorded a 100% valuation allowance against net deferred tax assets due to uncertainty of their ultimate realization. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Loss Per Share Net loss per share is calculated in accordance with ASC 260, Earnings per Share, for the period presented. Basic net loss per share is based upon the weighted average number of common shares outstanding. Diluted net loss per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There is no potential dilutive security as of December 31, 2015. As there was a net loss for the period, basic and diluted loss per share is the same for the twelve months ended December 31, 2015 and 2014, respectively. |
Related Party Transactions Policy [Policy Text Block] | A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company's financial statements. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | December 31, December 31, 2015 2014 Loan payable to related party EFT Holdings, Inc. $ 570,000 $ 500,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of December 31, 2015 2014 Deferred tax assets: Net operating loss carryforwards $ 304,107 $ 257,178 Less: valuation allowance (304,107) (257,178) Net deferred tax assets $ $ |
Basis of Presentation and Nat14
Basis of Presentation and Nature of Operations (Details Textual) | Dec. 31, 2015shares |
Basis Of Presentation And Nature Of Operations [Line Items] | |
Shares, Issued | 20,095,000 |
Summary of Significant Accoun15
Summary of Significant Accounting Policies and Going Concern (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accounting Policies [Line Items] | ||
Cash and Cash Equivalents, at Carrying Value | $ 0 | $ 0 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 0 | 0 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Related Party Transaction [Line Items] | ||
Loan payable to related party - EFT Holdings, Inc. | $ 570,000 | $ 500,000 |
Related Party Transactions (D17
Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | ||
Proceeds from Related Party Debt | $ 70,000 | $ 80,000 |
EFT Holdings, Inc [Member] | ||
Related Party Transaction [Line Items] | ||
Proceeds from Related Party Debt | $ 70,000 | $ 80,000 |
Debt Instrument, Interest Rate During Period | 5.00% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Net operating loss carryforwards | $ 304,107 | $ 257,178 |
Less: valuation allowance | (304,107) | (257,178) |
Net deferred tax assets | $ 0 | $ 0 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Loss Carryforwards | $ 868,876 | |
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | $ 0 |
Operating Loss Carry Forwards Expiration Description | 2,029 |