Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2015 | |
Document and Entity Information | |
Entity Registrant Name | Blue Line Protection Group, Inc. |
Document Type | 10-Q |
Document Period End Date | 31-Mar-15 |
Amendment Flag | FALSE |
Entity Central Index Key | 1416697 |
Current Fiscal Year End Date | -19 |
Entity Common Stock, Shares Outstanding | 123,525,282 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | Q1 |
Balance_Sheets
Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalent | $112,105 | $211,922 |
Accounts receivable | 22,434 | 62,101 |
Accrued receivables | 92,873 | 54,790 |
Notes receivable | 38,470 | 46,451 |
Prepaid expenses and deposits | 2,500 | 2,500 |
Total current assets | 268,382 | 377,764 |
Fixed assets, net: | ||
Fixed assets | 179,161 | 189,438 |
Property, plant and equipment | 750,000 | 750,000 |
Building improvements | 348,553 | 348,553 |
Total fixed assets | 1,277,714 | 1,287,991 |
Total assets | 1,546,096 | 1,665,755 |
Current liabilities: | ||
Accounts payable | 162,286 | 143,019 |
Accrued liabilities | 270,049 | 152,844 |
Note payable | 50,470 | 2,000 |
Note payable - related parties | 183,271 | 288,271 |
Current portion of long-term debt | 3,735 | 3,735 |
Total current liabilities | 669,811 | 589,869 |
Non-current liabilities: | ||
Long-term debt | 690,793 | 691,780 |
Total non-current liabilities | 690,793 | 691,780 |
Total liabilities | 1,360,604 | 1,281,649 |
Stockholders' equity (deficit) | ||
Preferred stock value | ||
Common stock value | 123,525 | 122,845 |
Common stock payable | 569 | 749 |
Additional paid-in capital | 2,961,281 | 2,788,934 |
Accumulated deficit | -2,899,883 | -2,528,422 |
Total stockholders' equity (deficit) | 185,492 | 384,106 |
Total liabilities and stockholders' equity (deficit) | $1,546,096 | $1,665,755 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Balance Sheet | ||
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 1,400,000,000 | 1,400,000,000 |
Common stock, shares issued | 123,525,282 | 122,845,282 |
Common stock, shares outstanding | 123,525,282 | 122,845,282 |
Common stock shares owed but not issued | 568,750 | 748,750 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Statement | ||
Revenue | $520,231 | $50,662 |
Cost of revenue | -368,222 | -5,315 |
Gross profit | 152,209 | 45,347 |
Expenses: | ||
Advertising | 273 | |
Depreciation | 10,277 | 379 |
Executive compensation | 51,000 | 11,603 |
General and administrative expenses | 162,168 | 14,678 |
Professional fees | 36,594 | 25,278 |
Salaries and wages | 132,317 | 54,679 |
Stock-based compensation expense | 108,561 | |
Total expenses | 501,190 | 106,617 |
Operating income (loss) | -348,981 | -61,270 |
Other expenses: | ||
Interest expense | -24,535 | |
Interest income | 2,056 | |
Total other expenses | -22,479 | |
Loss before provision for income taxes | -371,460 | -61,270 |
Provision for income taxes | ||
Net loss | ($371,461) | ($61,270) |
Net loss per share - basic and diluted | $0 | $0 |
Weighted average number of common shares outstanding - basic | 123,134,171 | 107,563,952 |
Weighted average number of common shares outstanding - diluted | 130,519,515 | 109,219,662 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Operating activities | ||
Net loss | ($371,461) | ($61,270) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Depreciation | 10,277 | 379 |
Stock-based compensation | 108,561 | |
Amortization of discount on note payable | 12,655 | |
Changes in operating assets and liabilities: | ||
(Increase) in accounts receivable | -1,584 | -24,703 |
Increase in accounts payable and accrued liabilities | 136,472 | 3,308 |
Increase in long-term liabilities | -987 | |
Net cash used by operating activities | -102,898 | -82,286 |
Investing activities | ||
Receipt of payments from notes receivable | 7,981 | |
Purchase of fixed assets | 64,552 | |
Net cash used by investing activities | 7,981 | -64,552 |
Financing activities | ||
Donated capital | 7,000 | |
Proceeds from notes payable | 50,000 | 150,000 |
Repayment of notes payable - related parties | 172,000 | |
Proceeds from notes payable - related parties | 67,000 | |
Common stock payables | 100 | |
Issuance of common stock | 50,000 | |
Net cash provided by financing activities | -4,900 | 157,000 |
Net increase (decrease) in cash | -99,817 | 10,162 |
Cash - beginning of the period | 211,922 | 2,844 |
Cash - ending of the period | 112,105 | 13,006 |
Supplemental disclosures | ||
Interest paid | ||
Income taxes paid | ||
Non-cash transactions | ||
Shares issued for fixed assets | 30,000 | |
Number of shares issued for fixed assets | 323,078 | |
Stock-based compensation | 108,561 | |
Number of options issued for stock-based compensation | 820,000 | |
Number of stock options cancelled | ($4,680,000) |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Basis of Presentation | Note 1 - Basis of presentation |
The interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. | |
These statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim financial statements be read in conjunction with the financial statements of the Company for the year ended December 31, 2014 and notes thereto included in the Company's annual report on Form 10-K. The Company follows the same accounting policies in the preparation of interim reports. | |
Results of operations for the interim periods are not indicative of annual results. |
History_and_organization_of_th
History and organization of the company | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
History and organization of the company | Note 2 - History and business of the company |
The Company was originally organized September 11, 2006 (Date of Inception) under the laws of the State of Nevada, as The Engraving Masters, Inc. The Company was authorized to issue up to 100,000,000 shares of its common stock and 100,000,000 shares of preferred stock, each with a par value of $0.001 per share. | |
On March 14, 2014, the Company acquired Blue Line Protection Group, Inc., a Colorado corporation formed in February 2014 (“Blue Line Colorado”), as a wholly-owned subsidiary of the Company. Blue Line Colorado provides protection, compliance and financial services to the lawful cannabis industry. | |
On May 2, 2014, the Company changed its name from The Engraving Masters, Inc. to Blue Line Protection Group, Inc. (“BLPG”) | |
On May 6, 2014, the Company effected a forward stock split and a pro-rata increase in its authorized common stock on a basis of 14-to-1, whereby each shareholder received 14 newly issued shares of common stock for each 1 share held. Additionally, the authorized number capital of the Company concurrently increased to 1,400,000,000 shares of $0.001 par value common stock. All references to share and per share amounts in the condensed consolidated financial statements and accompanying notes thereto have been retroactively restated to reflect the forward stock split. | |
Blue Line Protection Group, Inc. provides armed protection, financial solutions, logistics, and compliance services for businesses engaged in the legal cannabis industry. The Company offers asset logistic services, such as armored transportation service; security services, including shipment protection, money escorts, security monitoring, asset vaulting, VIP and dignitary protection, and others; financial services, such as handling transportation and storage of currency; training; and compliance services. |
Going_Concern
Going Concern | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Going Concern | Note 3 - Going concern |
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As shown in the accompanying financial statements, the Company incurred a net loss of $(371,460) during the three months ended March 31, 2015, and had net sales of $520,231 during the such same period. | |
In order to continue as a going concern, the Company will need, among other things, additional capital resources. The Company is significantly dependent upon its ability, and will continue to attempt, to secure additional equity and/or debt financing. The Company is currently conducting a private placement of its common stock to raise proceeds to finance its plan of operation. There are no assurances that the Company will be successful and without sufficient financing it would be unlikely for the Company to continue as a going concern. | |
The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might arise from this uncertainty. |
Accounting_Policies_and_Proced
Accounting Policies and Procedures | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Accounting Policies and Procedures | Note 4 - Accounting policies and procedures |
Principles of consolidation | |
For the years ended December 31, 2014 and 2013, the consolidated financial statements include the accounts of Blue Line Protection Group, Inc. (formerly The Engraving Masters, Inc.), Blue Line Advisory Services, Inc. (a Nevada corporation; “BLAS”), Blue Line Capital, Inc. (a Colorado corporation; “Blue Line Capital”), Blue Line Protection Group (California), Inc. (a California corporation; “Blue Line California”), Blue Line Colorado, Blue Line Protection Group Illinois, Inc. (an Illinois corporation; “Blue Line Illinois”), BLPG, Inc. (a Nevada corporation; “Blue Line Nevada”), Blue Line Protection Group (Washington), Inc. (a Washington corporation; “Blue Line Washington”). All significant intercompany balances and transactions have been eliminated. BLPG and its subsidiaries are collectively referred herein to as the “Company.” | |
Use of estimates | |
The preparation of 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 revenue and expenses during the reporting period. Actual results could differ significantly from those estimates. | |
Cash and cash equivalents | |
For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. | |
Accounts receivable | |
Accounts receivable are stated at the amount the Company expects to collect from outstanding balances and do not bear interest. The Company provides for probable uncollectible amounts through an allowance for doubtful accounts, if an allowance is deemed necessary. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable; however, changes in circumstances relating to accounts receivable may result in a requirement for additional allowances in the future. On a periodic basis, management evaluates its accounts receivable and determines the requirement for an allowance for doubtful accounts based on its assessment of the current and collectible status of individual accounts with past due balances over 90 days. Account balances are charged against the allowance after all collection efforts have been exhausted and the potential for recovery is considered remote. | |
Notes receivable | |
Notes receivable are measured at historical cost and reported at their outstanding principal balances net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans. Interest income on notes receivable is recognized using the interest method. Interest income on impaired loans is recognized as cash is collected or on a cost-recovery basis. | |
Revenue recognition | |
The Company recognizes revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of its fees is probable. | |
Sales related to long-term contracts for services (such as programming, website development and maintenance) extending over several years are accounted for under the percentage-of-completion method of accounting. Sales and earnings under these contracts are recorded based on the ratio of actual costs incurred to total estimated costs expected to be incurred related to the contract under the cost-to-cost method based budgeted milestones or tasks as designated per each contract. Anticipated losses on contracts are recognized in full in the period in which losses become probable and estimable. | |
For all other sales of product or services the Company recognizes revenues based on the terms of the customer agreement. The customer agreement takes the form of either a contract or a customer purchase order and each provides information with respect to the product or service being sold and the sales price. If the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized on the date of the customer agreement, invoice or purchase order. | |
Allowance for uncollectible accounts | |
The Company estimates losses on receivables based on known troubled accounts, if any, and historical experience of losses incurred. The allowance for doubtful customer and vendor receivables was $18,864 and $0 at March 31, 2015 and 2014, respectively. | |
Cost of Sales | |
The Company’s cost of revenue primarily consists of items purchased by the Company specifically purposed for the benefit of the Company’s client. | |
Stock-based compensation | |
The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718, which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | |
The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50.. | |
Advertising and marketing costs | |
The Company expenses all costs of advertising as incurred. During the three months ended March 31, 2015 and 2014, advertising and marketing costs were $273 and $0, respectively. | |
Loss per common share | |
Net loss per share is provided in accordance with ASC Subtopic 260-10. The Company presents basic loss per share (“EPS”) and diluted EPS on the face of statements of operations. Basic EPS is computed by dividing reported losses by the weighted average shares outstanding. Except where the result would be anti-dilutive to income from continuing operations, diluted earnings per share has been computed assuming the conversion of the convertible long-term debt and the elimination of the related interest expense, and the exercise of stock warrants. Loss per common share has been computed using the weighted average number of common shares outstanding during the year. | |
Fair Value of Financial Instruments | |
The carrying amounts reflected in the balance sheets for cash, accounts payable and accrued expenses approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale. | |
As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | |
The three levels of the fair value hierarchy are described below: | |
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |
Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | |
Contingencies | |
The Company is not currently a party to any pending or threatened legal proceedings. The company has one potential contingent liability. A shareholder and employee asserts he has loaned the Company cash and paid for various expenses on behalf of the Company in the aggregate amount of $447,896. The Company is disputing its need to pay this claim on the grounds that a number of items in the claim were unauthorized and minimal, if any, supporting documentation was provided to substantiate the validity of the claim. While the Company can reasonably estimate the liability, it is improbable that the Company will pay, due the Claimant’s (a) failure mutually agree upon the alleged amounts owed and (b) failure to validate the claims. | |
Recent pronouncements | |
The Company has evaluated the recent accounting pronouncements through November 14, 2014, and believes that none of them will have a material effect on the Company’s financial position, results of operations or cash flows. |
Notes_Receivable_Disclosure
Notes Receivable Disclosure | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Notes Receivable Disclosure | Note 5 - Notes receivable |
On May 15, 2014, the Company loaned $50,000 to a non-affiliated entity on a revolving basis at a rate of 18% per annum and due within one year from the date of issuance. During the three months ended March 31, 2015 and 2014, interest income earned was $2,056 and $0, respectively. As of March 31, 2015, the principal balance of the loan is $38,470 and accrued interest thereupon was $596. |
Fixed_Assets_Disclosure
Fixed Assets Disclosure | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Notes | ||||||
Fixed Assets Disclosure | Note 6 - Fixed assets | |||||
Fixed assets consisted of the following at: | ||||||
31-Mar-15 | 31-Dec-14 | |||||
Automotive vehicles | $ | 173,926 | $ | 173,926 | ||
Furniture and equipment | 44,204 | 44,204 | ||||
Fixed assets, total | 218,130 | 218,130 | ||||
Less: accumulated depreciation | -38,969 | -28,692 | ||||
Fixed assets, net | $ | 179,161 | $ | 189,438 | ||
Depreciation expenses for the three months ended March 31, 2015 and 2014 were $10,277 and $379, respectively. | ||||||
On July 15, 2014, the Company purchased a commercial building for a total purchase price of $750,000, for which the Company paid a down payment of $75,000 and financed the remaining $675,000 in the form of a promissory note. The note bears interest at a rate of 5% per annum on the unpaid principal balance and is due in full on July 31, 2016. Interest is paid monthly, in arrears, in the amount of $2,813 beginning August 31, 2014. Through March 31, 2015, approximately $348,553 in capital improvements have been made to the property. As of March 31, 2015, the Company has not yet placed the property into service and, accordingly, no depreciation expense has been recorded. |
Debt_and_interest_expense
Debt and interest expense | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Debt and interest expense | Note 7 - Debt and interest expense |
Through March 31, 2015, a non-affiliated third-party loaned the Company an aggregate of $2,000 in cash. The note bears no interest and is due upon demand. Beginning January 1, 2015, the Company began accruing implied interest on the unpaid principal balance at a rate of 6% per annum. As of March 31, 2015 and 2014, accrued interest payable was $29 and $0, respectively. During the three month periods ended March 31, 2015 and 2014, interest expense was $29 and $0, respectively. As of March 31, 2015, the principal balance owed on this loan is $2,000. | |
On February 6, 2015, the Company borrowed $50,000 in cash from one non-affiliated person. The loan is due and payable on April 6, 2015 and bears interest at a rate of 10% per annum. During the three month periods ended March 31, 2015 and 2014, interest expense was $726 and $0, respectively. As of March 31, 2015, the principal balance owed on this loan is $50,000. In connection with the note, the Company is obligated to issue 100,000 shares of its common stock to the holder, for which a discount of $14,286 is attributed to the note, which is being amortized of the life of the note and recorded as interest expense. As of March 31, 2015 and 2014, $12,755 of the discount has been amortized and recorded as interest expense, leaving a balance of $1,531 in discounts related to this note. See Note 10 - Stockholders’ Equity for additional information. |
Notes_Payable_Related_Party_Di
Notes Payable - Related Party, Disclosure | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Notes Payable - Related Party, Disclosure | Note 8 - Notes payable - Related Party |
On July 31, 2014, the Company borrowed $98,150 from an entity materially controlled by a shareholder of the Company. The loan is due and payable on demand and bears no interest. The Company is accruing implied interest on the unpaid principal balance at a rate of 6% per annum. As of March 31, 2015 and 2014, accrued interest payable was $1,436 and $0, respectively. During the three month periods ended March 31, 2015 and 2014, interest expense was $1,436 and $0, respectively. As of March 31, 2015, the principal balance owed on this loan is $98,150. | |
Through March 31, 2015, a shareholder loaned the Company an aggregate of $286,446, in the form of cash and expenses paid on behalf of the Company. The loan is due and payable on demand and bears no interest. The Company has repaid $231,825 and as of March 31, 2015, the principal balance owed on this loan is $54,921. The Company is accruing implied interest on the unpaid principal balance at a rate of 6% per annum. As of March 31, 2015 and 2014, accrued interest payable was $799 and $0, respectively. During the three month periods ended March 31, 2015 and 2014, interest expense was $799 and $0, respectively. | |
Through March 31, 2015, the Company borrowed $30,000 from an entity materially controlled by a shareholder of the Company. The loan is due and payable on demand and bears no interest. The Company is accruing implied interest on the unpaid principal balance at a rate of 6% per annum. As of March 31, 2015 and 2014, accrued interest payable was $232 and $0, respectively. During the three month periods ended March 31, 2015 and 2014, interest expense was $232 and $0, respectively. As of March 31, 2015, the principal balance owed on this loan is $30,000. | |
Through March 31, 2015, the Company borrowed $43,500 from an officer and shareholder of the Company. The loan is due and payable on demand and bears no interest. The Company has repaid $43,000 and as of March 31, 2015, the principal balance owed on this loan is $500. |
Long_Term_Notes_Payable_Disclo
Long Term Notes Payable Disclosure | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Long Term Notes Payable Disclosure | Note 9 - Long Term Notes Payable |
On July 15, 2014, the Company purchased a commercial building for a total purchase price of $750,000, for which the Company paid a down payment of $75,000 and financed the remaining $675,000 in the form of a promissory note. The note bears interest at a rate of 5% per annum on the unpaid principal balance and is due in full on July 31, 2016. Interest is paid monthly, in arrears, in the amount of $2,813 beginning August 31, 2014. As of March 31, 2015, the principal balance is $675,000. During the three months ended March 31, 2015 and 2014 and a total of $8,438 and $0 in interest payments have been made. | |
On November 21, 2014, the Company purchased a vehicle for a purchase price of $20,827, net of discounts. The Company financed the entire amount of $20,827 at an interest rate of 2.42% for five years, with a maturity date of December 5, 2019. As of March 31, 2015, the total principal balance of the note is $19,528, of which $15,793 is considered a long-term liability and the current portion of $3,735 is considered a current liability. |
Warrants_and_Options_Disclosur
Warrants and Options Disclosure | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Notes | |||||||||||
Warrants and Options Disclosure | Note 11 - Warrants and options | ||||||||||
All stock options have an exercise price equal to the fair market value of the common stock on the date of grant. The fair value of each option award is estimated using a Black-Scholes option valuation model. The Company has not paid any cash dividends on its common stock and does not anticipate paying any cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero in the Black-Scholes-Merton option valuation model. Volatility is an estimate based on the calculated historical volatility of similar entities in industry, in size and in financial leverage, whose share prices are publicly available. The expected life of awards granted represents the period of time that they are expected to be outstanding. The Company has no historical experience with which to establish a basis for determining an expected life of these awards. Therefore, the Company only gave consideration to the contractual terms and did not consider the vesting schedules, exercise patterns and pre-vesting and post-vesting forfeitures significant to the expected life of the option award. The Company bases the risk-free interest rate used in the Black-Scholes-Merton option valuation model on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term equal to the expected life of the award. | |||||||||||
The following is a summary of the Company’s stock option activity: | |||||||||||
Number | Weighted-Average | ||||||||||
Of Shares | Exercise Price | ||||||||||
Outstanding at December 31, 2013 | 0 | $0.00 | |||||||||
Granted | 4,806,900 | $0.14 | |||||||||
Exercised | 0 | $0.00 | |||||||||
Vested | 133,525 | $0.14 | |||||||||
Cancelled | 0 | $0.00 | |||||||||
Outstanding at March 31, 2014 | 4,806,900 | $0.14 | |||||||||
Granted | 6,000,000 | $0.39 | |||||||||
Exercised | 0 | $0.00 | |||||||||
Vested | 2,221,917 | $0.25 | |||||||||
Cancelled | 0 | $0.00 | |||||||||
Outstanding at December 31, 2014 | 10,836,900 | $0.29 | |||||||||
Granted | 1,750,000 | $0.22 | |||||||||
Exercised | 0 | $0.00 | |||||||||
Vested | 614,836 | $0.20 | |||||||||
Cancelled | -4,680,000 | $0.39 | |||||||||
Outstanding at March 31, 2015 | 7,876,900 | $0.22 | |||||||||
Options exercisable at March 31, 2014 | 133,525 | $0.00 | |||||||||
Options exercisable at March 31, 2015 | 2,208,178 | $0.20 | |||||||||
The following tables summarize information about stock options outstanding and exercisable at March 31, 2015: | |||||||||||
OPTIONS OUTSTANDING AND EXERCISABLE | |||||||||||
Range of | Number of | Weighted-Average | Weighted- | Number | Weighted- | ||||||
Exercise | Options | Remaining | Average | Exercisable | Average | ||||||
Prices | Outstanding | Contractual | Exercise | Exercise | |||||||
Life in Years | Price | Price | |||||||||
$ 0.14 - 0.71 | 7,876,900 | 2.17 | $0.22 | 2,208,178 | $0.20 | ||||||
7,876,900 | 2.17 | $0.22 | 2,208,178 | $0.20 | |||||||
Total stock-based compensation expense in connection with options granted to employees recognized in the consolidated statement of operations for the three-month periods ended March 31, 2015 and 2014 was $108,561 and $0, respectively. |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Related Party Transactions | Note 12 - Related party transactions |
On July 31, 2014, the Company borrowed $98,150 from an entity materially controlled by a shareholder of the Company. The loan is due and payable on demand and bears no interest. As of March 31, 2015, the principal balance owed on this loan is $98,150. | |
Through March 31, 2015, a shareholder loaned the Company an aggregate of $286,446, in the form of cash and expenses paid on behalf of the Company. The loan is due and payable on demand and bears no interest. The Company has repaid $231,825 and as of March 31, 2015, the principal balance owed on this loan is $54,921. | |
Through March 31, 2015, the Company borrowed $30,000 from an entity materially controlled by a shareholder of the Company. The loan is due and payable on demand and bears no interest. As of March 31, 2015, the principal balance owed on this loan is $30,000. | |
Through March 31, 2015, the Company borrowed $43,500 from an officer and shareholder of the Company. The loan is due and payable on demand and bears no interest. The Company has repaid $43,000 and as of March 31, 2015, the principal balance owed on this loan is $500. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Subsequent Events | Note 13 - Subsequent Events |
The Company’s management has reviewed all material events through the date of this report in accordance with ASC 855-10, and believes there are no further material subsequent events to report. |
Accounting_Policies_and_Proced1
Accounting Policies and Procedures: Principles of Consolidation (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Principles of Consolidation | Principles of consolidation |
For the years ended December 31, 2014 and 2013, the consolidated financial statements include the accounts of Blue Line Protection Group, Inc. (formerly The Engraving Masters, Inc.), Blue Line Advisory Services, Inc. (a Nevada corporation; “BLAS”), Blue Line Capital, Inc. (a Colorado corporation; “Blue Line Capital”), Blue Line Protection Group (California), Inc. (a California corporation; “Blue Line California”), Blue Line Colorado, Blue Line Protection Group Illinois, Inc. (an Illinois corporation; “Blue Line Illinois”), BLPG, Inc. (a Nevada corporation; “Blue Line Nevada”), Blue Line Protection Group (Washington), Inc. (a Washington corporation; “Blue Line Washington”). All significant intercompany balances and transactions have been eliminated. BLPG and its subsidiaries are collectively referred herein to as the “Company.” |
Accounting_Policies_and_Proced2
Accounting Policies and Procedures: Use of Estimates (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Use of Estimates | Use of estimates |
The preparation of 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 revenue and expenses during the reporting period. Actual results could differ significantly from those estimates. |
Accounting_Policies_and_Proced3
Accounting Policies and Procedures: Cash and Cash Equivalents Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Cash and Cash Equivalents Policy | Cash and cash equivalents |
For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. |
Accounting_Policies_and_Proced4
Accounting Policies and Procedures: Receivables Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Receivables Policy | Accounts receivable |
Accounts receivable are stated at the amount the Company expects to collect from outstanding balances and do not bear interest. The Company provides for probable uncollectible amounts through an allowance for doubtful accounts, if an allowance is deemed necessary. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable; however, changes in circumstances relating to accounts receivable may result in a requirement for additional allowances in the future. On a periodic basis, management evaluates its accounts receivable and determines the requirement for an allowance for doubtful accounts based on its assessment of the current and collectible status of individual accounts with past due balances over 90 days. Account balances are charged against the allowance after all collection efforts have been exhausted and the potential for recovery is considered remote. | |
Notes receivable | |
Notes receivable are measured at historical cost and reported at their outstanding principal balances net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans. Interest income on notes receivable is recognized using the interest method. Interest income on impaired loans is recognized as cash is collected or on a cost-recovery basis. |
Accounting_Policies_and_Proced5
Accounting Policies and Procedures: Property and Equipment Policy (Policies) | 3 Months Ended | |
Mar. 31, 2015 | ||
Policies | ||
Property and Equipment Policy | Property and equipment | |
Property and equipment is recorded at cost and capitalized from the initial date of service. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets using the straight-line method for financial statement purposes. The Company uses other depreciation methods (generally accelerated) for tax purposes where appropriate. The estimated useful lives for significant property and equipment categories are as follows: | ||
Automotive Vehicles | 5 years | |
Furniture and Equipment | 7 years | |
Buildings and Improvements | 15 years | |
The Company reviews the carrying value of property and equipment for impairment whenever events and circumstances indicate that the carrying value of an asset may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition. In cases where undiscounted expected future cash flows are less than the carrying value, an impairment loss is recognized equal to an amount by which the carrying value exceeds the fair value of assets. The factors considered by management in performing this assessment include current operating results, trends and prospects, the manner in which the property is used, and the effects of obsolescence, demand, competition and other economic factors. Based on this assessment there was no impairment as March 31, 2015 and 2014. Depreciation expense for the three months ended March 31, 2015 and 2014 totaled $10,277 and $379, respectively. |
Accounting_Policies_and_Proced6
Accounting Policies and Procedures: Long-lived Assets, Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Long-lived Assets, Policy | Long-Lived Assets |
All property and equipment and other long-lived assets are reviewed when events or changes in circumstances indicate that the assets’ carrying value may not be recoverable. If such indicators are present, it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying amounts. No material impairments were recorded as of March 31, 2015 and 2014 as a result of the tests performed. |
Accounting_Policies_and_Proced7
Accounting Policies and Procedures: Revenue Recognition, Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Revenue Recognition, Policy | Revenue recognition |
The Company recognizes revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of its fees is probable. | |
Sales related to long-term contracts for services (such as programming, website development and maintenance) extending over several years are accounted for under the percentage-of-completion method of accounting. Sales and earnings under these contracts are recorded based on the ratio of actual costs incurred to total estimated costs expected to be incurred related to the contract under the cost-to-cost method based budgeted milestones or tasks as designated per each contract. Anticipated losses on contracts are recognized in full in the period in which losses become probable and estimable. | |
For all other sales of product or services the Company recognizes revenues based on the terms of the customer agreement. The customer agreement takes the form of either a contract or a customer purchase order and each provides information with respect to the product or service being sold and the sales price. If the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized on the date of the customer agreement, invoice or purchase order. |
Accounting_Policies_and_Proced8
Accounting Policies and Procedures: Allowance For Uncollectible Accounts Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Allowance For Uncollectible Accounts Policy | Allowance for uncollectible accounts |
The Company estimates losses on receivables based on known troubled accounts, if any, and historical experience of losses incurred. The allowance for doubtful customer and vendor receivables was $18,864 and $0 at March 31, 2015 and 2014, respectively. |
Accounting_Policies_and_Proced9
Accounting Policies and Procedures: Cost of Sales Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Cost of Sales Policy | Cost of Sales |
The Company’s cost of revenue primarily consists of items purchased by the Company specifically purposed for the benefit of the Company’s client. |
Recovered_Sheet1
Accounting Policies and Procedures: Stock-based Compensation Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Stock-based Compensation Policy | Stock-based compensation |
The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718, which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | |
The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50.. |
Recovered_Sheet2
Accounting Policies and Procedures: Advertising Costs Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Advertising Costs Policy | Advertising and marketing costs |
The Company expenses all costs of advertising as incurred. During the three months ended March 31, 2015 and 2014, advertising and marketing costs were $273 and $0, respectively. |
Recovered_Sheet3
Accounting Policies and Procedures: Loss Per Share Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Loss Per Share Policy | Loss per common share |
Net loss per share is provided in accordance with ASC Subtopic 260-10. The Company presents basic loss per share (“EPS”) and diluted EPS on the face of statements of operations. Basic EPS is computed by dividing reported losses by the weighted average shares outstanding. Except where the result would be anti-dilutive to income from continuing operations, diluted earnings per share has been computed assuming the conversion of the convertible long-term debt and the elimination of the related interest expense, and the exercise of stock warrants. Loss per common share has been computed using the weighted average number of common shares outstanding during the year. |
Recovered_Sheet4
Accounting Policies and Procedures: Fair Value of Financial Instruments (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments |
The carrying amounts reflected in the balance sheets for cash, accounts payable and accrued expenses approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale. | |
As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | |
The three levels of the fair value hierarchy are described below: | |
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |
Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). |
Recovered_Sheet5
Accounting Policies and Procedures: Income Taxes Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Income Taxes Policy | Income Taxes |
The Company follows FASB Codification Topic 740-10-25 (ASC 740-10-25) for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. | |
Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. |
Recovered_Sheet6
Accounting Policies and Procedures: Dividends Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Dividends Policy | Dividends |
The Company has not yet adopted any policy regarding payment of dividends. No dividends have been paid or declared since inception |
Recovered_Sheet7
Accounting Policies and Procedures: Contingencies Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Contingencies Policy | Contingencies |
The Company is not currently a party to any pending or threatened legal proceedings. The company has one potential contingent liability. A shareholder and employee asserts he has loaned the Company cash and paid for various expenses on behalf of the Company in the aggregate amount of $447,896. The Company is disputing its need to pay this claim on the grounds that a number of items in the claim were unauthorized and minimal, if any, supporting documentation was provided to substantiate the validity of the claim. While the Company can reasonably estimate the liability, it is improbable that the Company will pay, due the Claimant’s (a) failure mutually agree upon the alleged amounts owed and (b) failure to validate the claims. |
Recovered_Sheet8
Accounting Policies and Procedures: Recent Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Recent Pronouncements | Recent pronouncements |
The Company has evaluated the recent accounting pronouncements through November 14, 2014, and believes that none of them will have a material effect on the Company’s financial position, results of operations or cash flows. |
Recovered_Sheet9
Accounting Policies and Procedures: Property and Equipment Policy: Property and Equipment, Estimated Usefule Lives (Tables) | 3 Months Ended | |
Mar. 31, 2015 | ||
Tables/Schedules | ||
Property and Equipment, Estimated Usefule Lives | ||
Automotive Vehicles | 5 years | |
Furniture and Equipment | 7 years | |
Buildings and Improvements | 15 years |
Fixed_Assets_Disclosure_Schedu
Fixed Assets Disclosure: Schedule of fixed assets (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Tables/Schedules | ||||||
Schedule of fixed assets | ||||||
31-Mar-15 | 31-Dec-14 | |||||
Automotive vehicles | $ | 173,926 | $ | 173,926 | ||
Furniture and equipment | 44,204 | 44,204 | ||||
Fixed assets, total | 218,130 | 218,130 | ||||
Less: accumulated depreciation | -38,969 | -28,692 | ||||
Fixed assets, net | $ | 179,161 | $ | 189,438 |
Warrants_and_Options_Disclosur1
Warrants and Options Disclosure: Schedule of Stock Options, Activity (Tables) | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Tables/Schedules | ||||
Schedule of Stock Options, Activity | ||||
Number | Weighted-Average | |||
Of Shares | Exercise Price | |||
Outstanding at December 31, 2013 | 0 | $0.00 | ||
Granted | 4,806,900 | $0.14 | ||
Exercised | 0 | $0.00 | ||
Vested | 133,525 | $0.14 | ||
Cancelled | 0 | $0.00 | ||
Outstanding at March 31, 2014 | 4,806,900 | $0.14 | ||
Granted | 6,000,000 | $0.39 | ||
Exercised | 0 | $0.00 | ||
Vested | 2,221,917 | $0.25 | ||
Cancelled | 0 | $0.00 | ||
Outstanding at December 31, 2014 | 10,836,900 | $0.29 | ||
Granted | 1,750,000 | $0.22 | ||
Exercised | 0 | $0.00 | ||
Vested | 614,836 | $0.20 | ||
Cancelled | -4,680,000 | $0.39 | ||
Outstanding at March 31, 2015 | 7,876,900 | $0.22 | ||
Options exercisable at March 31, 2014 | 133,525 | $0.00 | ||
Options exercisable at March 31, 2015 | 2,208,178 | $0.20 |
Warrants_and_Options_Disclosur2
Warrants and Options Disclosure: Schedule of Options Outstanding and Exercisable (Tables) | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Tables/Schedules | |||||||||||
Schedule of Options Outstanding and Exercisable | |||||||||||
OPTIONS OUTSTANDING AND EXERCISABLE | |||||||||||
Range of | Number of | Weighted-Average | Weighted- | Number | Weighted- | ||||||
Exercise | Options | Remaining | Average | Exercisable | Average | ||||||
Prices | Outstanding | Contractual | Exercise | Exercise | |||||||
Life in Years | Price | Price | |||||||||
$ 0.14 - 0.71 | 7,876,900 | 2.17 | $0.22 | 2,208,178 | $0.20 | ||||||
7,876,900 | 2.17 | $0.22 | 2,208,178 | $0.20 |
Going_Concern_Details
Going Concern (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Details | ||
Net loss | ($371,461) | ($61,270) |
Net sales | $520,231 |
Recovered_Sheet10
Accounting Policies and Procedures: Property and Equipment Policy: Property and Equipment, Estimated Usefule Lives (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Automobiles | |
Property, Plant and Equipment, Useful Life | 5 years |
Furniture and Fixtures | |
Property, Plant and Equipment, Useful Life | 7 years |
Building and Building Improvements | |
Property, Plant and Equipment, Useful Life | 15 years |
Recovered_Sheet11
Accounting Policies and Procedures: Property and Equipment Policy (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Details | ||
Depreciation expense for the period | $10,277 | $379 |
Recovered_Sheet12
Accounting Policies and Procedures: Allowance For Uncollectible Accounts Policy (Details) (USD $) | Mar. 31, 2015 |
Details | |
Allowance for doubtful customer and vendor receivables | $18,864 |
Recovered_Sheet13
Accounting Policies and Procedures: Advertising Costs Policy (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Details | |
Advertising costs | $273 |
Notes_Receivable_Disclosure_De
Notes Receivable Disclosure (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Interest income | $2,056 | |
Notes receivable | 38,470 | 46,451 |
Accrued interest receivable | 596 | |
Loan 2 | ||
Loan provided by the Company, issuance of note | $50,000 |
Fixed_Assets_Disclosure_Schedu1
Fixed Assets Disclosure: Schedule of fixed assets (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment, Gross | $218,130 | $218,130 |
(Less) accumulated depreciation | -38,969 | -28,692 |
Fixed assets | 179,161 | 189,438 |
Automobiles | ||
Property, Plant and Equipment, Gross | 173,926 | 173,926 |
Furniture and Fixtures | ||
Property, Plant and Equipment, Gross | $44,204 | $44,204 |
Fixed_Assets_Disclosure_Detail
Fixed Assets Disclosure (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Details | |||
Depreciation expense for the period | $10,277 | $379 | |
Commercial building purchased | 750,000 | ||
Capital improvements to building | $348,553 | $348,553 |
Debt_and_interest_expense_Deta
Debt and interest expense (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Non-affiliated third-party Loan 1 | |
Loan received | $2,000 |
Accrued interest payable | 29 |
Interest expense on borrowings | 29 |
Principal balance owed | 2,000 |
Non-affiliated third-party Loan 3 | |
Loan received | 50,000 |
Interest expense on borrowings | 726 |
Principal balance owed | $50,000 |
Notes_Payable_Related_Party_Di1
Notes Payable - Related Party, Disclosure (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Amount of loan repaid, related party | $172,000 | |
Entity controlled by a shareholder | ||
Proceeds from related party borrowings | 98,150 | |
Accrued interest payable | 1,436 | |
Interest expense on borrowings | 1,436 | |
Principal balance owed | 98,150 | |
A shareholder | ||
Proceeds from related party borrowings | 286,446 | |
Accrued interest payable | 799 | |
Interest expense on borrowings | 799 | |
Principal balance owed | 54,921 | |
Amount of loan repaid, related party | 231,825 | |
Entity controlled by an officer and shareholder2 | ||
Proceeds from related party borrowings | 30,000 | |
Accrued interest payable | 232 | |
Interest expense on borrowings | 232 | |
Principal balance owed | 30,000 | |
Officer and shareholder2 | ||
Proceeds from related party borrowings | 43,500 | |
Principal balance owed | 500 | |
Amount of loan repaid, related party | $43,000 |
Long_Term_Notes_Payable_Disclo1
Long Term Notes Payable Disclosure (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Commercial building purchased | $750,000 | |
Purchase of assets financed | 690,793 | 691,780 |
Interest payments | 8,438 | |
Vehicle purchased | 20,827 | |
Purchase of vehicle, amount due current | 3,735 | 3,735 |
Commercial building | ||
Purchase of assets financed | 675,000 | |
Vehicle | ||
Purchase of assets financed | 15,793 | |
Purchase of vehicle, amount due current | $3,735 |
Items_Details
Items (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Borrowing of cash February 6, 2015 | |
Stock subscribed for but not yet issued | 100,000 |
Sale of stock, March 16, 2015 | |
Common stock issued for cash | 400,000 |
Proceeds from issuance of common stock for cash | 50,000 |
Warrants_and_Options_Disclosur3
Warrants and Options Disclosure (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Details | |
Stock-based compensation expense | $108,561 |
Warrants_and_Options_Disclosur4
Warrants and Options Disclosure: Schedule of Stock Options, Activity (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Details | |||
Stock options granted during the period | 1,750,000 | 4,806,900 | 6,000,000 |
Options granted, weighted average exercise price | $0.22 | $0.14 | $0.39 |
Stock options vested during the period | 614,836 | 133,525 | 2,221,917 |
Options vested, weighted average exercise price | $0.20 | $0.14 | $0.25 |
Stock options outstanding | 7,876,900 | 4,806,900 | 10,836,900 |
Options outstanding, weighted average exercise price | $0.22 | $0.29 | |
Stock options cancelled during the period | -4,680,000 | ||
Options cancelled, weighted average exercise price | $0.39 | ||
Stock options exercisable | 2,208,178 | 133,525 | |
Options exercisable, weighted average exercise price | $0.20 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Amount of loan repaid, related party | $172,000 | |
Entity controlled by a shareholder | ||
Proceeds from related party borrowings | 98,150 | |
Principal balance owed | 98,150 | |
A shareholder | ||
Proceeds from related party borrowings | 286,446 | |
Principal balance owed | 54,921 | |
Amount of loan repaid, related party | 231,825 | |
Entity controlled by an officer and shareholder2 | ||
Proceeds from related party borrowings | 30,000 | |
Principal balance owed | 30,000 | |
Officer and shareholder2 | ||
Proceeds from related party borrowings | 43,500 | |
Principal balance owed | 500 | |
Amount of loan repaid, related party | $43,000 |