Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 16, 2019 | |
Document And Entity Information | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | Digital Development Partners, Inc. | |
Entity Current Reporting Status | Yes | |
Entity Central Index Key | 0001409999 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Trading Symbol | DGDM | |
Entity Common Stock, Shares Outstanding | 85,970,665 | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | true |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash | $ 3,306 | $ 4,733 |
Total Assets | 3,306 | 4,733 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 245,258 | 231,553 |
Long Term Liabilities | ||
Related party loan payables | 835,270 | 792,008 |
Total Liabilities | 1,080,528 | 1,023,561 |
Stockholders' Deficit | ||
Common Stock, $0.001 par value; authorized 225,000,000 shares; 85,970,665 outstanding shares at June 30, 2019 and December 31, 2018 | 85,971 | 85,971 |
Additional Paid-In Capital | 7,488,946 | 7,488,946 |
Accumulated Deficit | (8,652,139) | (8,593,745) |
Total Stockholders' Deficit | (1,077,222) | (1,018,828) |
Total Liabilities and Stockholders' Deficit | $ 3,306 | $ 4,733 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2019 | Dec. 31, 2018 |
Balance Sheets | ||
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, Outstanding | 85,970,665 | 85,970,665 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Operating Expenses | ||||
General and administrative | $ 18,725 | $ 24,425 | $ 38,188 | $ 38,175 |
Total operating expenses | 18,725 | 24,425 | 38,188 | 38,175 |
Loss from Operations | (18,725) | (24,425) | (38,188) | (38,175) |
Other Expense | ||||
Interest Expense | (10,253) | (9,268) | (20,206) | (18,286) |
Total other Expense | (10,253) | (9,268) | (20,206) | (18,286) |
Net Loss | $ (28,978) | $ (33,693) | $ (58,394) | $ (56,461) |
Net Loss Per Common Share: | ||||
Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding: | ||||
Basic and Diluted | 85,970,665 | 85,970,665 | 85,970,665 | 85,970,665 |
Statement of Changes in Stockho
Statement of Changes in Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Beginning Balance at Dec. 31, 2017 | $ 85,971 | $ 7,488,946 | $ (8,472,635) | $ (897,718) |
Beginning Balance(in shares) at Dec. 31, 2017 | 85,970,665 | |||
Net Loss | (22,768) | (22,768) | ||
Ending Balance at Mar. 31, 2018 | $ 85,971 | 7,488,946 | (8,495,403) | (920,486) |
Ending Balance(in shares) at Mar. 31, 2018 | 85,970,665 | |||
Net Loss | (33,693) | (33,693) | ||
Ending Balance at Jun. 30, 2018 | $ 85,971 | 7,488,946 | (8,529,096) | (954,179) |
Ending Balance(in shares) at Jun. 30, 2018 | 85,970,665 | |||
Beginning Balance at Dec. 31, 2018 | $ 85,971 | 7,488,946 | (8,593,745) | (1,018,828) |
Beginning Balance(in shares) at Dec. 31, 2018 | 85,970,665 | |||
Net Loss | (29,416) | (29,416) | ||
Ending Balance at Mar. 31, 2019 | $ 85,971 | 7,488,946 | 8,623,161 | (1,048,244) |
Ending Balance(in shares) at Mar. 31, 2019 | 85,970,665 | |||
Net Loss | (28,978) | (28,978) | ||
Ending Balance at Jun. 30, 2019 | $ 85,971 | $ 7,488,946 | $ (8,652,139) | $ (1,077,222) |
Ending Balance(in shares) at Jun. 30, 2019 | 85,970,665 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net Loss | $ (58,394) | $ (56,461) |
Change in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 26,382 | 16,536 |
Net cash used in operating activities | (32,012) | (39,925) |
Cash flows from financing activities: | ||
Proceeds from related party loans | 66,500 | 39,580 |
Repayments on related party loans | (35,915) | |
Net cash provided by financing activities | 30,585 | 39,580 |
Net decrease in cash | (1,427) | (345) |
Cash, beginning of the period | 4,733 | 1,573 |
Cash, end of the period | 3,306 | 1,228 |
Non-cash investing and financing transactions | ||
Expenses paid directly by related party on behalf of the Company | 12,677 | $ 0 |
EFT Holdings, Inc. [Member] | ||
Cash flows from financing activities: | ||
Repayments on related party loans | $ 35,915 |
Basis of Presentation and Natur
Basis of Presentation and Nature of Operations | 6 Months Ended |
Jun. 30, 2019 | |
Basis of Presentation and Nature of Operations | |
Basis of Presentation and Nature of Operations | 1. The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) for interim financial information and with the instructions to Form 10‑Q. Accordingly, they do not include all of the information required by GAAP for complete annual financial statement presentation. These unaudited interim financial statements, as of June 30, 2019 and for the three and six months ended June 30, 2019 and 2018, reflect all adjustments consisting of normal recurring adjustments, which, in the opinion of management, are necessary to fairly present 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. Operating results for the three and six months ended June 30, 2019, are not necessarily indicative of the results to be expected for other interim periods or for the full year ending December 31, 2019. These unaudited interim financial statements should be read in conjunction with the financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the Securities Exchange Commission. |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2019 | |
Going Concern | |
Going Concern | 2. The Company’s unaudited interim 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 June 30, 2019. These factors raise substantial doubt about the Company’s ability to continue as a going concern. 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 future 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 financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities, that might be necessary in the event that the Company cannot continue as a going concern. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions | |
Related Party Transactions | 3. Office Space EFT Holdings, Inc. provides office space to the Company on a rent-free basis. Loans Payable – Related Parties The following table sets forth outstanding loans payable to related parties as of the June 30, 2019 and December 31, 2018, respectively. June 30, December 31, 2019 2018 EFT Holdings, Inc. $ 738,020 $ 751,258 EFT2, Inc. 63,250 40,750 Astonia LLC 34,000 — $ 835,270 $ 792,008 Advances of $10,000 were received from EFT Holdings, Inc. and $12,677 were expenses paid for on behalf of the Company during the six months ended June 30, 2019. During the six months ended June 30, 2019, the Company repaid $35,915 of the EFT Holdings, Inc. loans. The amounts due EFT Holdings bear interest at 5% per year, are secured by all future sales of the Company and have a maturity of one year. As of June 30, 2019, the Company owed EFT Holdings $234,445 in accrued and unpaid interest. $719,300 of these advances at June 30, 2019 were past due and payable upon demand. All of these past due advances have been extended for another year. Advances of $22,500 were received from EF2T during the six months ended June 30, 2019. The amounts due EF2T bear interest at 5% per year, are secured by all future sales of the Company, and have a maturity of one year. As of June 30, 2019, the Company owed EF2T $2,514 in accrued and unpaid interest. Advances of $34,000 were received from Astonia, LLC (“Astonia”) during the six months ended June 30, 2019. Astonia is considered a “Related Party”, due to the fact that the Company’s President, Jack Jie Qin, is the manager of Astonia.The amounts due Astonia bear interest at 5% per year, are secured by all future sales of the Company, and have a maturity of one year. As of June 30, 2019, the Company owed Astonia $109 in accrued and unpaid interest. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2019 | |
Subsequent Events | |
Subsequent Events | . In July 2019, the Company obtained a loan from EFT2 in the amount of $10,000. This amount due EFT2 bears interest at 5% per year, is secured by all future sales of the Company, and has a maturity of one year. In July 2019, the Company obtained a loan from Astonia in the amount of $10,000. This amount due Astonia bears interest at 5% per year, is secured by all future sales of the Company, and has a maturity of one year. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions | |
Schedule of Related Party Transactions | June 30, December 31, 2019 2018 EFT Holdings, Inc. $ 738,020 $ 751,258 EFT2, Inc. 63,250 40,750 Astonia LLC 34,000 — $ 835,270 $ 792,008 |
Related Party Transactions - Lo
Related Party Transactions - Loans payable to related parties (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Related Party Transactions [Line Items] | ||
Loans payable to related parties | $ 835,270 | $ 792,008 |
EFT Holdings, Inc. [Member] | ||
Related Party Transactions [Line Items] | ||
Loans payable to related parties | 738,020 | 751,258 |
EFT2, Inc. [Member] | ||
Related Party Transactions [Line Items] | ||
Loans payable to related parties | 63,250 | $ 40,750 |
Astonia LLC [Member] | ||
Related Party Transactions [Line Items] | ||
Loans payable to related parties | $ 34,000 |
Related Party Transactions Addi
Related Party Transactions Additional Information (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Related Party Transactions [Line Items] | ||
Proceeds from Related Party Debt | $ 66,500 | $ 39,580 |
Expenses paid Net | 12,677 | $ 0 |
Proceeds from (Repayments of) Related Party Debt | (35,915) | |
EFT Holdings, Inc. [Member] | ||
Related Party Transactions [Line Items] | ||
Proceeds from (Repayments of) Related Party Debt | 35,915 | |
EFT Holdings, Inc. [Member] | Secured Debt [Member] | ||
Related Party Transactions [Line Items] | ||
Proceeds from Related Party Debt | $ 10,000 | |
Debt Instrument, Interest Rate During Period | 5.00% | |
Debt Instrument, Term | 1 year | |
Interest Payable | $ 234,445 | |
Interest unpaid | 719,300 | |
EFT2, Inc. [Member] | Secured Debt [Member] | ||
Related Party Transactions [Line Items] | ||
Proceeds from Related Party Debt | $ 22,500 | |
Debt Instrument, Interest Rate During Period | 5.00% | |
Debt Instrument, Term | 1 year | |
Interest Payable | $ 2,514 | |
Astonia LLC [Member] | Secured Debt [Member] | ||
Related Party Transactions [Line Items] | ||
Proceeds from Related Party Debt | $ 34,000 | |
Debt Instrument, Interest Rate During Period | 5.00% | |
Debt Instrument, Term | 1 year | |
Interest Payable | $ 109 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 1 Months Ended | 6 Months Ended | |
Jul. 31, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | |
Proceeds from Related Party Debt | $ 66,500 | $ 39,580 | |
EFT Holdings, Inc. [Member] | Secured Debt [Member] | |||
Proceeds from Related Party Debt | $ 10,000 | ||
Debt Instrument, Term | 1 year | ||
Astonia LLC [Member] | Secured Debt [Member] | |||
Proceeds from Related Party Debt | $ 34,000 | ||
Debt Instrument, Term | 1 year | ||
Subsequent Event [Member] | EFT2 [Member] | Secured Debt [Member] | |||
Proceeds from Related Party Debt | $ 10,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 5.00% | ||
Debt Instrument, Term | 1 year | ||
Subsequent Event [Member] | Astonia LLC [Member] | Secured Debt [Member] | |||
Proceeds from Related Party Debt | $ 10,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 5.00% | ||
Debt Instrument, Term | 1 year |