Renewable Energy Acquisition 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 01, 2015
Document Information [Line Items]
Entity Registrant Name	Renewable Energy Acquisition Corp.
Entity Central Index Key	1,418,302
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	REAC
Entity Common Stock, Shares Outstanding		1,623,750
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current Assets
Cash	$ 2,536	$ 1,633
Total Assets	2,536	1,633
Current Liabilities
Notes payable to stockholders	39,920	31,920
Accrued interest payable to stockholders	945	308
Accounts payable - trade	7,135	3,300
Total Liabilities	$ 48,000	$ 35,528
Commitments and Contingencies
Stockholders' Deficit
Preferred stock - $0.001 par value 5,000,000 shares authorized, none issued and outstanding,	$ 0	$ 0
Common stock - $0.001 par value, 50,000,000 shares authorized. 1,623,750 shares issued and outstanding	1,624	1,624
Additional paid-in capital	53,509	52,529
Accumulated deficit	(100,597)	(88,048)
Total Stockholders' Deficit	(45,464)	(33,895)
Total Liabilities and Stockholders’ Deficit	$ 2,536	$ 1,633

Balance Sheets _Parenthetical_

Balance Sheets [Parenthetical] - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	1,623,750	1,623,750
Common Stock, Shares, Outstanding	1,623,750	1,623,750

Statements of Operations and Co

Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues	$ 0	$ 0	$ 0	$ 0
Operating expenses
Professional fees	6,016	2,999	14,055	13,898
Other expenses	1,475	780	4,377	3,830
Total operating expenses	7,491	3,779	18,432	17,728
Loss from operations	(7,491)	(3,779)	(18,432)	(17,728)
Other income (expense)
Miscellaneous income	5,000	0	7,500	0
Interest expense on notes payable to stockholders	(603)	(415)	(1,617)	(1,072)
Loss before provision for income taxes	(3,094)	(4,194)	(12,549)	(18,800)
Provision for income taxes	0	0	0	0
Net loss	$ (3,094)	$ (4,194)	$ (12,549)	$ (18,800)
Loss per common share - basic and fully diluted (in dollars per share)	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted-average number of shares of common stock outstanding - basic and fully diluted (in shares)	1,623,750	1,623,750	1,623,750	1,623,750

Statements of Cash Flows

Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities
Net loss	$ (12,549)	$ (18,800)
Adjustments to reconcile net loss to net cash used in operating activities
Interest expense contributed as capital by stockholders	980	906
Changes in operating assets and liabilities:
Prepaid expenses	0	8,675
Accounts payable - trade	3,835	498
Accrued interest payable to stockholders	637	166
Increase (Decrease) in:
Net cash used in operating activities	(7,097)	(8,555)
Cash Flows from Investing Activities	0	0
Cash Flows from Financing Activities
Cash received from notes payable to stockholders	8,000	8,400
Net cash provided by financing activities	8,000	8,400
Increase (Decrease) in Cash	903	(155)
Cash at beginning of period	1,633	1,033
Cash at end of period	2,536	878
Supplemental Disclosure of Interest and Income Taxes Paid
Interest paid during the period	0	0
Income taxes paid during the period	0	0
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Accounts payable to stockholders converted into note payable	$ 0	$ 635

Background and Description of B

Background and Description of Business	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note A - Background and Description of Business Renewable Energy Acquisition Corp. (the “Company”) was incorporated on June 21, 2007 under the laws of the State of Nevada. The Company was formed as a blank check company to effect a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business in either the renewable energy or the environmental industry and their related infrastructures. To date, the Company’s efforts have been limited to organizational activities.

Preparation of Financial Statem

Preparation of Financial Statements	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	Note B - Preparation of Financial Statements The Company follows the accrual basis of accounting in accordance with generally accepted accounting principles and has elected a year-end of December 31. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.

Going Concern Uncertainty

Going Concern Uncertainty	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern Uncertainty [Text Block]	Note C - Going Concern Uncertainty The Company was formed to effect a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business in either the renewable energy or the environmental industry and their related infrastructures. To date, the Company’s efforts have been limited to organizational activities. There is no assurance that the Company will be able to successful in the implementation of this business plan. The Company has no operating history, limited cash on hand, no operating assets and has a business plan with inherent risk. Because of these factors, the Company’s auditors have issued an audit opinion on the Company’s financial statements which includes a statement describing our going concern status. This means, in the auditor’s opinion, substantial doubt about our ability to continue as a going concern exists at the date of their opinion. The Company’s current management anticipates that the initial capitalization will be sufficient to maintain the corporate status of the Company for the immediate future. Because of the Company's lack of operating assets, the Company’s continuance may become fully dependent upon either future sales of securities and/or advances or loans from significant stockholders or corporate officers to provide sufficient working capital to preserve the integrity of the corporate entity during the development phase. The Company's continued existence is dependent upon its ability to implement its business plan, generate sufficient cash flows from operations to support its daily operations, and provide sufficient resources to retire existing liabilities and obligations on a timely basis. The Company faces considerable risk in it’s business plan and a potential shortfall of funding due to our uncertainty to raise adequate capital in the equity securities market. The Company is dependent upon existing cash balances to support its day-to-day operations. In the event that working capital sufficient to maintain the corporate entity and implement our business plan is not available, the Company’s existing controlling stockholders intend to maintain the corporate status of the Company and provide all necessary working capital support on the Company's behalf. However, no formal commitments or arrangements to advance or loan funds to the Company or repay any such advances or loans exist. There is no legal obligation for either management or existing controlling stockholders to provide additional future funding. Further, the Company is at the mercy of future economic trends and business operations for the Company’s existing controlling stockholders to have the resources available to support the Company. The Company anticipates offering future sales of equity securities. However, there is no assurance that the Company will be able to obtain additional funding through the sales of additional equity securities or, that such funding, if available, will be obtained on terms favorable to or affordable by the Company. The Company’s Articles of Incorporation authorizes the issuance of up to 5,000,000 50,000,000 In such a restricted cash flow scenario, the Company would be unable to complete its business plan steps, and would, instead, delay all cash intensive activities. Without necessary cash flow, the Company may become dormant during the next twelve months, or until such time as necessary funds could be raised in the equity securities market. While the Company is of the opinion that good faith estimates of the Company’s ability to secure additional capital in the future to reach its goals have been made, there is no guarantee that the Company will receive sufficient funding to sustain operations or implement any future business plan steps.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note D - Summary of Significant Accounting Policies 1. Cash and cash equivalents The Company considers all cash on hand and in banks, certificates of deposit and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents. 2. Organization costs The Company has adopted the provisions of provisions required by the Start-Up Activities topic of the FASB Accounting Standards Codification whereby all costs incurred with the incorporation and reorganization, post-bankruptcy, of the Company were charged to operations as incurred. 3. Income taxes The Company files income tax returns in the United States of America and various states, as appropriate and applicable. The Company is no longer subject to U.S. federal, state and local, as applicable, income tax examinations by regulatory taxing authorities for any period prior to January 1, 2011. The Company uses the asset and liability method of accounting for income taxes. At September 30, 2015 and December 31, 2014, respectively, the deferred tax asset and deferred tax liability accounts, as recorded when material to the financial statements, are entirely the result of temporary differences. Temporary differences generally represent differences in the recognition of assets and liabilities for tax and financial reporting purposes, primarily accumulated depreciation and amortization, allowance for doubtful accounts and vacation accruals. The Company recognizes potential liabilities as a result of management’s acceptance of potentially uncertain positions for income tax treatment on a “more-likely-than-not” probability of an assessment upon examination by a respective taxing authority. 4. Income (Loss) per share Basic earnings (loss) per share is computed by dividing the net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the respective period presented in our accompanying financial statements. Fully diluted earnings (loss) per share is computed similar to basic income (loss) per share except that the denominator is increased to include the number of common stock equivalents (primarily outstanding options and warrants). Common stock equivalents represent the dilutive effect of the assumed exercise of the outstanding stock options and warrants, using the treasury stock method, at either the beginning of the respective period presented or the date of issuance, whichever is later, and only if the common stock equivalents are considered dilutive based upon the Company’s net income (loss) position at the calculation date. As of September 30, 2015 and 2014, respectively, the Company does not have any outstanding items which could be deemed to be dilutive. 5. New and Pending Accounting Pronouncements The Company is of the opinion that any and all pending accounting pronouncements, either in the adoption phase or not yet required to be adopted, will not have a significant impact on the Company's financial position or results of operations.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value Measures And Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note E - Fair Value of Financial Instruments The carrying amount of cash, accounts receivable, accounts payable and notes payable, as applicable, approximates fair value due to the short term nature of these items and/or the current interest rates payable in relation to current market conditions. Interest rate risk is the risk that the Company’s earnings are subject to fluctuations in interest rates on either investments or on debt and is fully dependent upon the volatility of these rates. The Company does not use derivative instruments to moderate its exposure to interest rate risk, if any. Financial risk is the risk that the Company’s earnings are subject to fluctuations in interest rates or foreign exchange rates and are fully dependent upon the volatility of these rates. The Company does not use derivative instruments to moderate its exposure to financial risk, if any.

Notes Payable to Stockholders

Notes Payable to Stockholders	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note F - Notes Payable to Stockholders In conjunction with the initial capitalization of the Company, the subscribing stockholders agreed that additional working capital would be needed to support the initial phases of the Company’s implementation of its business plan. Accordingly, two controlling stockholders agreed to lend the Company an aggregate $25,000 with an initial maturity of the sooner of August 31, 2008 or 10 days after the closing of an anticipated initial public offering. The notes are non-interest bearing and, as such, the Company has recognized an aggregate of approximately $3,386 as additional paid-in capital for economic event (calculated at an imputed interest rate of 6.0% per annum) related to the non-interest bearing feature on the aforementioned notes payable to stockholders. On September 29, 2009, the Company paid the controlling stockholders an aggregate of $19,000 as principal repayment and the controlling stockholders converted their remaining $6,000 in debt into 250,000 shares of restricted, unregistered common stock. The outstanding balances on these two separate notes are an aggregate $-0- and $-0-, respectively. During 2010, three stockholders loaned the Company an aggregate $ 3,000 During 2011, two stockholders loaned the Company an aggregate $ 7,320 On November 12, 2012, the Company executed five (5) separate Investment Letter and Subscription Agreement(s) with three (3) separate stockholders converting an aggregate $ 10,475 523,750 0.02 During 2013, two (2) separate stockholders loaned an additional aggregate $ 13,240 635 During 2014, two (2) separate stockholders loaned an additional aggregate $ 10,900 6.0 During 2015, two (2) separate stockholders loaned an additional aggregate $ 8,000 6.0 The Company has accrued interest payable to these stockholders aggregating approximately $ 945 308 September 30, December 31, 2015 2014 Notes payable $ 39,920 $ 31,920 Accrued interest payable 945 308 Total due stockholders $ 40,865 $ 32,228 The Company has recognized an aggregate of $ 980 906 6.0

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note G - Income Taxes Nine months Nine months ended ended September 30, September 30, 2015 2014 Federal: Current $ - $ - Deferred - - - - State: Current - - Deferred - - - - Total $ - $ - As of September 30, 2015, the Company had aggregate net operating loss carryforwards to offset future taxable income of approximately $ 100,600 Nine months Nine months ended ended September 30, September 30, 2015 2014 Statutory rate applied to income before income taxes $ (4,200) $ (6,400) Increase (decrease) in income taxes resulting from: State income taxes - - Other, including reserve for deferred tax asset and application of net operating loss carryforward(s) 4,200 6,400 Income tax expense $ - $ - The Company’s only temporary difference due to statutory requirements in the recognition of assets and liabilities for tax and financial reporting purposes, as of September 30, 2015 and December 31, 2014, relate solely to the Company’s net operating loss carryforwards. September 30, December 31, 2015 2014 Deferred tax assets Net operating loss carryforwards $ 34,200 $ 30,000 Less valuation allowance (34,200) (30,000) Net deferred tax asset $ - $ - During the nine months ended September 30, 2015, the valuation allowance for the deferred tax asset increased (decreased) by approximately $ 4,200

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note H - Subsequent Events Management has evaluated all activity of the Company through the issue date of the financial statements and concluded that no subsequent events have occurred that would require recognition in the accompanying financial statements or disclosure in the notes to financial statements.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Cash and Cash Equivalents, Policy [Policy Text Block]	1. Cash and cash equivalents The Company considers all cash on hand and in banks, certificates of deposit and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents.
Costs Incurred, Policy [Policy Text Block]	2. Organization costs The Company has adopted the provisions of provisions required by the Start-Up Activities topic of the FASB Accounting Standards Codification whereby all costs incurred with the incorporation and reorganization, post-bankruptcy, of the Company were charged to operations as incurred.
Income Tax, Policy [Policy Text Block]	3. Income taxes The Company files income tax returns in the United States of America and various states, as appropriate and applicable. The Company is no longer subject to U.S. federal, state and local, as applicable, income tax examinations by regulatory taxing authorities for any period prior to January 1, 2011. The Company uses the asset and liability method of accounting for income taxes. At September 30, 2015 and December 31, 2014, respectively, the deferred tax asset and deferred tax liability accounts, as recorded when material to the financial statements, are entirely the result of temporary differences. Temporary differences generally represent differences in the recognition of assets and liabilities for tax and financial reporting purposes, primarily accumulated depreciation and amortization, allowance for doubtful accounts and vacation accruals. The Company recognizes potential liabilities as a result of management’s acceptance of potentially uncertain positions for income tax treatment on a “more-likely-than-not” probability of an assessment upon examination by a respective taxing authority.
Earnings Per Share, Policy [Policy Text Block]	4. Income (Loss) per share Basic earnings (loss) per share is computed by dividing the net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the respective period presented in our accompanying financial statements. Fully diluted earnings (loss) per share is computed similar to basic income (loss) per share except that the denominator is increased to include the number of common stock equivalents (primarily outstanding options and warrants). Common stock equivalents represent the dilutive effect of the assumed exercise of the outstanding stock options and warrants, using the treasury stock method, at either the beginning of the respective period presented or the date of issuance, whichever is later, and only if the common stock equivalents are considered dilutive based upon the Company’s net income (loss) position at the calculation date. As of September 30, 2015 and 2014, respectively, the Company does not have any outstanding items which could be deemed to be dilutive.
New Accounting Pronouncements, Policy [Policy Text Block]	5. New and Pending Accounting Pronouncements The Company is of the opinion that any and all pending accounting pronouncements, either in the adoption phase or not yet required to be adopted, will not have a significant impact on the Company's financial position or results of operations.

Notes Payable to Stockholders (

Notes Payable to Stockholders (Table)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Other Current Liabilities [Table Text Block]	As of September 30, 2015 and December 31, 2014, respectively, the outstanding aggregate balances payable to stockholders was as follows: September 30, December 31, 2015 2014 Notes payable $ 39,920 $ 31,920 Accrued interest payable 945 308 Total due stockholders $ 40,865 $ 32,228

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Nine months Nine months ended ended September 30, September 30, 2015 2014 Federal: Current $ - $ - Deferred - - - - State: Current - - Deferred - - - - Total $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The Company's income tax (benefit) expense for the each of the nine-month periods ended September 30, 2015 and 2014, are as follows: Nine months Nine months ended ended September 30, September 30, 2015 2014 Statutory rate applied to income before income taxes $ (4,200) $ (6,400) Increase (decrease) in income taxes resulting from: State income taxes - - Other, including reserve for deferred tax asset and application of net operating loss carryforward(s) 4,200 6,400 Income tax expense $ - $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	This difference gives rise to the financial statement carrying amounts and tax bases of assets and liabilities causing either deferred tax assets or liabilities, as necessary, as of September 30, 2015 and December 31, 2014, respectively: September 30, December 31, 2015 2014 Deferred tax assets Net operating loss carryforwards $ 34,200 $ 30,000 Less valuation allowance (34,200) (30,000) Net deferred tax asset $ - $ -

Going Concern Uncertainty (Deta

Going Concern Uncertainty (Details Textual) - shares	Sep. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Common Stock, Shares Authorized	50,000,000	50,000,000

Notes Payable to Stockholders18

Notes Payable to Stockholders (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Notes payable	$ 39,920	$ 31,920
Accrued interest payable	945	308
Total due stockholders	$ 40,865	$ 32,228

Notes Payable to Stockholders19

Notes Payable to Stockholders (Details Textual) - USD ($)	Nov. 12, 2012	Sep. 29, 2009	Aug. 31, 2008	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Proceeds from Notes Payable				$ 8,000	$ 8,400
Debt Instrument, Interest Rate, Stated Percentage			6.00%
Interest Payable, Current				945		$ 308
Interest Expense, Debt			$ 3,386	$ 980	$ 906
Imputed Interest Rate Per Annum				6.00%
Two Stockholders Loan [Member]
Debt Instrument [Line Items]
Proceeds from Notes Payable				$ 8,000		$ 10,900	$ 13,240	$ 7,320
Debt Conversion, Original Debt, Amount							$ 635
Debt Instrument, Interest Rate, Stated Percentage				6.00%		6.00%
Three Stockholders Loan [Member]
Debt Instrument [Line Items]
Proceeds from Notes Payable									$ 3,000
Debt Conversion, Original Debt, Amount	$ 10,475
Debt Conversion, Converted Instrument, Shares Issued	523,750
Shares Issued, Price Per Share	$ 0.02
Stockholders [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued		250,000
Due to Officers or Stockholders			$ 25,000
Repayments of Debt		$ 19,000
Debt Conversion, Converted Instrument, Amount		$ 6,000
Debt Instrument, Maturity Date			Aug. 31, 2008
Notes One [Member]
Debt Instrument [Line Items]
Due to Officers or Stockholders				$ 0
Notes Two [Member]
Debt Instrument [Line Items]
Due to Officers or Stockholders				$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Federal:
Current			$ 0	$ 0
Deferred			0	0
Federal Total			0	0
State:
Current			0	0
Deferred			0	0
State Total			0	0
Total	$ 0	$ 0	$ 0	$ 0

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Taxes [Line Items]
Statutory rate applied to income before income taxes			$ (4,200)	$ (6,400)
Increase (decrease) in income taxes resulting from:
State income taxes			0	0
Other, including reserve for deferred tax asset and application of net operating loss carryforward(s)			4,200	6,400
Income tax expense	$ 0	$ 0	$ 0	$ 0

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Deferred tax assets
Net operating loss carryforwards	$ 34,200	$ 30,000
Less valuation allowance	(34,200)	(30,000)
Net deferred tax asset	$ 0	$ 0

Income Taxes (Details Textual)

Income Taxes (Details Textual)	9 Months Ended
	Sep. 30, 2015USD ($)
Income Taxes [Line Items]
Operating Loss Carryforwards	$ 100,600
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 4,200