| Document and Entity Information - shares | 9 Months Ended | |
| Sep. 30, 2011 | Mar. 05, 2019 | |
| Document And Entity Information | ||
| Entity Registrant Name | PACIFIC BLUE ENERGY CORP. | |
| Entity Central Index Key | 0001410187 | |
| Document Type | 10-Q/A | |
| Document Period End Date | Sep. 30, 2011 | |
| Amendment Flag | true | |
| Amendment Description | This Form 10-Q/A for the quarter ended September 30, 2011 (this "Form 10-Q/A") amends the Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, as originally filed by Pacific Blue Energy Corp. (the "Company," "we," "our," or "us") with the Securities and Exchange Commission (the "SEC") on March 5, 2019 (the "Original Filing"). This Form 10-Q/A is being filed to restate our unaudited consolidated financial statements as of and for the quarter and nine months ended September 30, 2011 and to make related revisions to certain other disclosures in the Original Filing. The errors primarily relate to the the erroneous original writeoff of $7,000 of accrued liabilities. | |
| Current Fiscal Year End Date | --12-31 | |
| Is Entity's Reporting Status Current? | No | |
| Is Entity Emerging Growth Company? | false | |
| Entity Filer Category | Non-accelerated Filer | |
| Entity Small Business | true | |
| Entity Common Stock, Shares Outstanding | 41,029,000 | |
| Document Fiscal Period Focus | Q3 | |
| Document Fiscal Year Focus | 2011 |
| Balance Sheets - USD ($) | Sep. 30, 2011 | Dec. 31, 2010 |
| Current Assets | ||
| Cash | $ 432,833 | |
| Prepaid expense | 249,316 | |
| Total current assets | 682,149 | |
| Property and equipment, net | 40,965 | |
| Land | 591,000 | |
| Total assets | 0 | 1,314,114 |
| Current Liabilities | ||
| Accounts payable and accrued liabilities | 7,000 | 19,037 |
| Due to related party | 11,982 | |
| Loan payable | 12,480 | |
| Total current liabilities | 7,000 | 43,499 |
| Stockholders' Equity | ||
| Preferred stock- authorized 10,000,000 shares, par value $0.001, issued and outstanding nil shares | ||
| Common stock- authorized 290,000,000 shares, par value $0.001, issued and outstanding 41,029,000 shares | 41,029 | 41,029 |
| Common stock issuable | 27,000 | 27,000 |
| Additional paid-in capital | 3,317,739 | 3,317,739 |
| Accumulated deficit | (3,392,768) | (2,115,153) |
| Total stockholders' equity | (7,000) | 1,270,615 |
| Total liabilities and stockholders' equity | $ 0 | $ 1,314,114 |
| Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2011 | Dec. 31, 2010 |
| Statement of Financial Position [Abstract] | ||
| Preferred Stock, par or stated value | $ 0.001 | $ 0.001 |
| Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
| Preferred Stock, shares issued | ||
| Common Stock, par or stated value | $ 0.001 | $ 0.001 |
| Common Stock, shares authorized | 290,000,000 | 290,000,000 |
| Common Stock, shares issued | 41,029,000 | 41,029,000 |
| Common Stock, shares outstanding | 41,029,000 | 41,029,000 |
| Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Income Statement [Abstract] | ||||
| Revenues | ||||
| Operating expenses: | ||||
| Amortization | ||||
| Consulting fees | 431,588 | 633,876 | ||
| General and administrative | 138,363 | 57,734 | 609,450 | 109,056 |
| Professional fees | 36,200 | 265,203 | 36,200 | 301,403 |
| Wages and benefits | 34,000 | 82,585 | ||
| Impairment of long lived assets | 631,965 | 631,965 | ||
| Total operating expenses | 806,528 | 788,525 | 1,277,615 | 1,126,920 |
| Loss from operations | (806,528) | (788,525) | (1,277,615) | (1,126,920) |
| Other income (expense) | ||||
| Interest expense | ||||
| Interest income | 420 | 420 | ||
| Total other income (expense) | 420 | 420 | ||
| Net loss | $ (806,528) | $ (788,105) | $ (1,277,615) | $ (1,126,500) |
| Net loss per share (basic and diluted) | $ (0.02) | $ (0.02) | $ (0.03) | $ (0.03) |
| Weighted average shares outstanding | 41,029,000 | 40,452,696 | 41,029,000 | 38,867,777 |
| Statements of Cash Flows - USD ($) | 9 Months Ended | |
| Sep. 30, 2011 | Sep. 30, 2010 | |
| CASH FLOWS FROM OPERATING ACTVITIES: | ||
| Net loss | $ (1,277,615) | $ (1,126,500) |
| Adjustments to reconcile net loss to net loss from operating activities | ||
| Amortization | 4,096 | |
| Impairment | 631,965 | |
| Shares issued for services | 441,000 | |
| Changes in operating assets and liabilities | ||
| Prepaid expenses | 249,316 | |
| Accounts payable and accrued liabilities | (36,499) | (15,565) |
| Net Cash Used in Operating Activities | (432,833) | (696,969) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Deposit payment on property purchase | (50,000) | |
| Purchase of equipment | (49,158) | |
| Net cash paid for acquisition | (299,622) | |
| Net Cash Used in Investing Activities | (398,780) | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from loans payable | 332,225 | |
| Repayment of loans payable | (337,250) | |
| Proceeds from related party | 14,467 | |
| Repayments to related party | 2,082,001 | |
| Net Cash Provided by (Used in) Financing Activities | 2,091,443 | |
| Increase (decrease) in cash | (432,833) | 995,694 |
| Cash, beginning of period | 432,833 | 2,448 |
| Cash, end of period | 998,142 | |
| SUPPLEMENTAL DISCLOSURES: | ||
| Cash paid for interest | ||
| Cash paid for taxes | ||
| Nature of Operations and Continuance of Business | 9 Months Ended |
| Sep. 30, 2011 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business Pacific Blue Energy Corp. (the "Company") was incorporated under the laws of the State of Nevada on April 3, 2007. On April 5, 2010, the Company acquired a 100% interest of Ship Ahoy LLC, a limited liability company in Arizona, in exchange for $300,000 and 1,000,000 common shares of the Company. This investment was subsequently abandoned by the Company and the Company is currently a non-operating shell company. Going Concern These consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has generated no revenues to date and has never paid any dividends and is unlikely to pay dividends or generate significant earnings in the immediate or foreseeable future. As of September 30, 2011, the Company had no revenues and an accumulated deficit of $3,392,768. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's future business. These factors raise substantial doubt regarding the Company's ability to continue as a going concern for a period of one year from the issuance of these consolidated financial statements. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
| Summary of Significant Accounting Policies | 9 Months Ended |
| Sep. 30, 2011 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies a) Basis of Presentation and Principles of Consolidation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), and are expressed in US dollars. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Ship Ahoy LLC. All intercompany transactions have been eliminated. The Company's fiscal year-end is December 31. b) Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States 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. The Company regularly evaluates estimates and assumptions related to the recoverability of its long-lived assets, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. c) Interim Financial Statements The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission ("SEC"). In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The consolidated financial statements herein should be read in conjunction with the Company's audited consolidated financial statements and notes thereto for the fiscal year ended December 31, 2010, included in the Company's Annual Report on Form 10-K. Operating results for the three and nine months ended September 30, 2011 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The Company computes net loss per share in accordance with ASC 260, Earnings Per Share, f) Financial Instruments ASC 820, "Fair Value Measurements", 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 amounts due to related parties. Pursuant to ASC 820, 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. h) Property and Equipment Property and equipment is comprised of a vehicle and is amortized on a straight-line basis over an expected useful life of three years. Maintenance and repairs are charged to expense as incurred. The land is not depreciated. i) Impairment of Long-lived Assets The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. j) Reclassification Certain prior period amounts have been reclassified to conform to current presentation. |
| Acquisition of Ship Ahoy LLC | 9 Months Ended |
| Sep. 30, 2011 | |
| Business Combinations [Abstract] | |
| Acquisition of Ship Ahoy LLC | 3. Acquisition of Ship Ahoy LLC On April 5, 2010, the Company acquired a 100% interest in the outstanding members' shares of Ship Ahoy LLC ("Ship Ahoy"), a limited liability company in Arizona, in exchange for $300,000 and 1,000,000 common shares of the Company. The common shares issued to Ship Ahoy shareholders were determined to have a fair value of $705,378. The purchase price was allocated to the following assets and liabilities: Purchase price Cash 300,000 1,000,000 common shares 705,378 1,005,378 Fair value of Ship Ahoy net assets Cash and cash equivalents 378 Land 591,000 Interest in Sunshine Wind Park 414,000 1,005,378 At December 31, 2010, the Company wrote off the interest in the Sunshine Wind Park of $414,000 due to lack of development of the property. At September 30, 2011, the Company determined that the Land and equipment of Ship Ahoy was impaired as the property was abandoned. As such, an impairment loss of $631,965 was recognized. |
| Prepaid Deposits | 9 Months Ended |
| Sep. 30, 2011 | |
| Health Care Organizations [Abstract] | |
| Prepaid Deposits | 4. Prepaid Deposits September 30, 2011 December 31, 2010 Insurance $ - $ 209,088 Legal - 40,228 Other - – - $ 249,316 |
| Property and Equipment | 9 Months Ended |
| Sep. 30, 2011 | |
| Property, Plant and Equipment [Abstract] | |
| Property and Equipment | 5. Property and Equipment Cost Accumulated Depreciation September 30, 2011 Net Carrying Value December 31, 2010 Net Carrying Value Vehicle - - - 40,965 Land - - - 591,000 - - - 631,965 |
| Loan Payable | 9 Months Ended |
| Sep. 30, 2011 | |
| Debt Disclosure [Abstract] | |
| Loan Payable | 6. Loan Payable In December 2010, the Company issued a note payable of $12,480 to a non-related party. Under the terms of the agreement, the amounts are unsecured, due interest at 10% per annum, and due on demand. At December 31, 2011, no amounts were due. |
| Restatement | 9 Months Ended |
| Sep. 30, 2011 | |
| Equity [Abstract] | |
| Restatement | 7. Restatement This restated financial statements for quarter ended September 30, 2011 amends the original financial statements for the quarter ended September 30, 2011, as originally filed by Pacific Blue Energy Corp. with the Securities and Exchange Commission on March 5, 2019. These amended financial statements are being filed to restate the Company's unaudited consolidated financial statements as of and for the quarter and nine months ended September 30, 2011 and to make related revisions to certain other disclosures in the original filing. The errors primarily relate to the the erroneous original writeoff of $7,000 of accrued liabilities. |
| Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
| Sep. 30, 2011 | |
| Accounting Policies [Abstract] | |
| Basis of presentation and principles of consolidation | a) Basis of Presentation and Principles of Consolidation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), and are expressed in US dollars. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Ship Ahoy LLC. All intercompany transactions have been eliminated. The Company's fiscal year-end is December 31. |
| Use of Estimates | b) Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States 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. The Company regularly evaluates estimates and assumptions related to the recoverability of its long-lived assets, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
| Interim Financial Statements | c) Interim Financial Statements The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission ("SEC"). In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The consolidated financial statements herein should be read in conjunction with the Company's audited consolidated financial statements and notes thereto for the fiscal year ended December 31, 2010, included in the Company's Annual Report on Form 10-K. Operating results for the three and nine months ended September 30, 2011 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The Company computes net loss per share in accordance with ASC 260, Earnings Per Share, |
| Financial Instruments | f) Financial Instruments ASC 820, "Fair Value Measurements", |
| Property and Equipment | h) Property and Equipment Property and equipment is comprised of a vehicle and is amortized on a straight-line basis over an expected useful life of three years. Maintenance and repairs are charged to expense as incurred. The land is not depreciated. |
| Impairment of Long-lived Assets | i) Impairment of Long-lived Assets The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. |
| Reclassification | j) Reclassification Certain prior period amounts have been reclassified to conform to current presentation. |
