| Document and Entity Information | 3 Months Ended | |
| Mar. 31, 2015 | Apr. 15, 2015 | |
| Nature of Organization and Basis of Presentation | ||
| Document Type | 10-Q | |
| Entity Registrant Name | WESTMOUNTAIN DISTRESSED DEBT INC | |
| Entity Central Index Key | 1421602 | |
| Document Period End Date | 31-Mar-15 | |
| Amendment Flag | FALSE | |
| Current Fiscal Year End Date | -19 | |
| Entity Filer Category | Smaller Reporting Company | |
| Document Fiscal Year Focus | 2015 | |
| Document Fiscal Period Focus | Q1 | |
| Entity Common Stock, Shares Outstanding | 1,983,150 |
| Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
| Assets | ||
| Cash | $11,263 | $8,071 |
| Prepaid expenses | 10,127 | 9,227 |
| Total assets | 21,390 | 17,298 |
| Liabilities: | ||
| Accrued liabilities, related parties | 3,636 | 1,737 |
| Notes payable, related parties | 50,000 | 25,000 |
| Accounts payable and accrued liabilities | 6,516 | 15,167 |
| Total liabilities | 60,152 | 41,904 |
| Shareholders equity: | ||
| Preferred stock, $0.10 par value; 1,000,000 shares authorized, -0- shares issued and outstanding 2014 and 2013 | ||
| Common stock, $0.001 par value; 200,000,000 shares authorized, 1,983,150 shares issued and outstanding 2015 and 2014 | 1,983 | 1,983 |
| Additional paid-in-capital | 368,982 | 368,982 |
| Deficit accumulated during development stage | -409,727 | -395,571 |
| Total shareholders' equity | -38,762 | -24,606 |
| Total liabilities and shareholders' equity | $21,390 | $17,298 |
| Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
| Statement of Financial Position [Abstract] | ||
| Preferred stock, par value per share | $0.10 | $0.10 |
| Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
| Preferred stock, shares issued | ||
| Preferred stock, shares outstanding | ||
| Common stock, par value per share | $0.00 | $0.00 |
| Common stock, shares authorized | 200,000,000 | 200,000,000 |
| Common stock, shares issued | 1,983,150 | 1,983,150 |
| Common stock, shares outstanding | 1,983,150 | 1,983,150 |
| Statements of Operations (USD $) | 3 Months Ended | |
| Mar. 31, 2015 | Mar. 31, 2014 | |
| Operating expenses | ||
| Sales, general and administrative expense | $12,257 | $8,415 |
| Total operating expenses | 12,257 | 8,415 |
| Net loss from operations | -12,257 | -8,415 |
| Other income (expense) | ||
| Interest income | -1,899 | |
| Net loss before income taxes | -14,156 | -8,415 |
| Provision for income taxes | ||
| Net loss | ($14,156) | ($8,415) |
| Basic and diluted loss per share | ($0.01) | $0 |
| Basic and diluted weighted average common shares outstanding | 1,983,150 | 1,808,150 |
| Changes in Shareholders' (Deficit) Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Acumulated Deficit [Member] | Total |
| Balance, value at Dec. 31, 2013 | $1,808 | $367,407 | ($353,113) | $16,102 |
| Balance, shares at Dec. 31, 2013 | 1,808,150 | |||
| Issuance of common stock, shares | 175,000 | |||
| Issuance of common stock, value | 175 | 1,575 | 1,750 | |
| Net loss | -42,458 | -42,458 | ||
| Balance, value at Dec. 31, 2014 | 1,983 | 368,982 | -395,571 | -24,606 |
| Balance, shares at Dec. 31, 2014 | 1,983,150 | |||
| Net loss | -14,156 | -14,156 | ||
| Balance, value at Mar. 31, 2015 | $1,983 | $368,982 | ($409,727) | ($38,762) |
| Balance, shares at Mar. 31, 2015 | 1,983,150 |
| Statements of Cash Flows (USD $) | 3 Months Ended | |
| Mar. 31, 2015 | Mar. 31, 2014 | |
| Cash flows from operating activities: | ||
| Net loss | ($14,156) | ($8,415) |
| Changes in operating assets and operating liabilities | ||
| Prepaid expenses | -900 | 324 |
| Accounts payable and accrued liabilities | -8,651 | -9,401 |
| Indebtedness to related parties and accrued liabilities | 1,899 | |
| Net cash (used in) operating activities | -21,808 | -17,492 |
| Cash flows from financing activities: | ||
| Proceeds from sale of common stock | 25,000 | |
| Net cash provided by financing activities | 25,000 | |
| Net change in cash | 3,192 | -17,492 |
| Cash, beginning of period | 8,071 | 33,659 |
| Cash, end of period | $11,263 | $16,167 |
| Nature of Organization and Summary of Significant Accounting Policies | 3 Months Ended |
| Mar. 31, 2015 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Nature of Organization and Significant Accounting Policies | 1) Nature of Organization and Summary of Significant Accounting Policies |
| Nature of Organization and Basis of Presentation | |
| WestMountain Distressed Debt, Inc. was incorporated in the state of Colorado on October 18, 2007 and on this date approved its business plan and commenced operations. | |
| The Company's plan has been to act as an acquirer of all forms of distressed debt that are being sold at a discount to the original purchase price, including, but not limited to, real estate mortgages, securities such as promissory notes, and assets acquired through bankruptcy. | |
| On May 7, 2014, the Company executed a non-binding term sheet which provided for the acquisition by a wholly-owned subsidiary of the Company of SOMNUS Healthcare, Inc., a private company (SOMNUS). This proposed acquisition has been abandoned by the parties as of October 1, 2014, with no continuing obligations by either party. | |
| The Company continues to develop a proprietary investment screening process to make its investments. This screening process will be refined as a result of the expanded nature of its business plan. This process will be based upon the experience of its management team and outside consultants. This process has not been fully developed at this time. | |
| The Company also plans to continue to act as a holder of all forms of distressed debt by raising, investing and managing private equity and direct investment funds for third parties including high net worth individuals and institutions. As is the industry practice, the Company plans to earn management fees based on the size of the funds that it manages and incentive income based on the performance of these funds. The Company does not plan to focus on any particular industry but will look at any and all opportunities. | |
| The Company is presently planning to develop and implement a web site based operation to gather additional potential investment opportunities beyond what it can generate through our network of contacts. The Company also plans to utilize the most current technology to analyze investments and believes the technology will assist in the analysis of each opportunity. | |
| The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has no history of operations, limited assets, and has incurred operating losses since inception. These factors, among others, raise substantial doubt about its ability to continue as a going concern. | |
| The financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company's continuation as a going concern is dependent upon its ability to obtain additional operating capital, commence operations, provide competitive services, and ultimately to attain profitability. | |
| Unaudited Interim Condensed Financial Statements | |
| We have prepared our unaudited interim condensed financial statements included herein pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to these rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. In our opinion, the unaudited interim condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly, in all material respects, our financial position as of March 31, 2015, the interim results of operations for the three months ended March 31, 2015 and 2014, and cash flows for the three months ended March 31, 2015 and 2014. These interim statements have not been audited. The balance sheet as of December 31, 2014 was derived from our audited financial statements included in our annual report on Form 10-K. The interim condensed financial statements contained herein should be read in conjunction with our audited financial statements, including the notes thereto, for the year ended December 31, 2013. The unaudited condensed financial position, results of operations and cash flows for the interim periods disclosed in this report are not necessarily indicative of future financial results. | |
| Use of Estimates | |
| The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
| Income Taxes | 3 Months Ended |
| Mar. 31, 2015 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | (2) Income Taxes |
| The Company incurred net operating losses during all periods presented resulting in a deferred tax asset, which was fully allowed for; therefore, the net benefit and expense resulted in $-0- income taxes. |
| Stockholders Equity | 3 Months Ended |
| Mar. 31, 2015 | |
| Equity [Abstract] | |
| Stockholders Equity | (3) Stockholders Equity |
| As of March 31, 2015 we had 1,983,150 shares issued and outstanding at a par value of $.001 or $1,983. |
| Related Parties | 3 Months Ended |
| Mar. 31, 2015 | |
| Related Party Transactions [Abstract] | |
| Related Parties | (4) Related Parties |
| Bohemian Companies, LLC and BOCO Investments, LLC are two companies under common control. Mr. Klemsz, our President, has been the Chief Investment Officer of BOCO Investments, LLC since March 2007. Since there is common control between the two companies and a relationship with our President, we are considering all transactions with Bohemian Companies, LLC, to be related party transactions. | |
| On January 1, 2008, we entered into a Service Agreement with Bohemian Companies, LLC, to provide us with certain defined services. These services include financial, bookkeeping, accounting, legal and tax matters, as well as cash management, custody of assets, preparation of financial documents, including tax returns and checks, and coordination of professional service providers as may be necessary to carry out the matters covered by the Service Agreement. We compensated Bohemian Companies, LLC by reimbursing this entity for the allocable portion of the direct and indirect costs of each employee of Bohemian Companies, LLC that performed services on our behalf. | |
| We received invoices on a monthly basis from Bohemian Companies, LLC. This Service Agreement was originally for the term of one year, ending December 31, 2009 but was extended to December 31, 2014. As of March 31, 2014, the agreement was terminated by agreement of both parties. Total expenses incurred with Bohemian Companies were $-0- and $-0- for the quarters ended March 31, 2015 and 2014, respectively. As of March 31, 2015 the Company had no balance due to Bohemian Companies, LLC. | |
| We entered into an agreement with SP Business Solutions ("SP") to provide accounting and related services for the Company. The owner, Joni Troska, was appointed Secretary of WestMountain Distressed Debt, Inc. on October 15, 2009, and is considered to be a related party. Total expenses incurred with SP were $500 and $500 for the quarters ended March 31, 2015 and 2014, respectively. As of March 31, 2015 an accrual of $500 has been recorded for unpaid services. | |
| On October 17, 2014, we entered into a Promissory Note Agreement with WestMountain Company, a related party, in the amount of $25,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before April 16, 2015. As of March 31, 2014, the principal and interest due on the note is $27,047. On April 18, 2015 we carried over the principal and total interest due to a new note. The new principal amount is $27,256.16. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before October 18, 2015. | |
| On May 4, 2015, we entered into a Promissory Note Agreement with WestMountain Company, a related party, in the amount of $10,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before November 4, 2015. |
| Subsequent Events | 3 Months Ended |
| Mar. 31, 2015 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | (5) Subsequent Events |
| On October 17, 2014, we entered into a Promissory Note Agreement with WestMountain Company, a related party, in the amount of $25,000. Repayment of the loan was due on or before April 16, 2015. On April 18, 2015 we carried over the principal and total interest due to a new note. The new principal amount is $27,256.16. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before October 18, 2015. | |
| On May 4, 2015, we entered into a Promissory Note Agreement with WestMountain Company, a related party, in the amount of $10,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before November 4, 2015. |
| Nature of Organization and Summary of Significant Accounting Policies (Policy) | 3 Months Ended |
| Mar. 31, 2015 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Nature of Organization and Basis of Presentation | Nature of Organization and Basis of Presentation |
| WestMountain Distressed Debt, Inc. was incorporated in the state of Colorado on October 18, 2007 and on this date approved its business plan and commenced operations. | |
| The Company's plan has been to act as an acquirer of all forms of distressed debt that are being sold at a discount to the original purchase price, including, but not limited to, real estate mortgages, securities such as promissory notes, and assets acquired through bankruptcy. | |
| On May 7, 2014, the Company executed a non-binding term sheet which provided for the acquisition by a wholly-owned subsidiary of the Company of SOMNUS Healthcare, Inc., a private company (SOMNUS). This proposed acquisition has been abandoned by the parties as of October 1, 2014, with no continuing obligations by either party. | |
| The Company continues to develop a proprietary investment screening process to make its investments. This screening process will be refined as a result of the expanded nature of its business plan. This process will be based upon the experience of its management team and outside consultants. This process has not been fully developed at this time. | |
| The Company also plans to continue to act as a holder of all forms of distressed debt by raising, investing and managing private equity and direct investment funds for third parties including high net worth individuals and institutions. As is the industry practice, the Company plans to earn management fees based on the size of the funds that it manages and incentive income based on the performance of these funds. The Company does not plan to focus on any particular industry but will look at any and all opportunities. | |
| The Company is presently planning to develop and implement a web site based operation to gather additional potential investment opportunities beyond what it can generate through our network of contacts. The Company also plans to utilize the most current technology to analyze investments and believes the technology will assist in the analysis of each opportunity. | |
| The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has no history of operations, limited assets, and has incurred operating losses since inception. These factors, among others, raise substantial doubt about its ability to continue as a going concern. | |
| The financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company's continuation as a going concern is dependent upon its ability to obtain additional operating capital, commence operations, provide competitive services, and ultimately to attain profitability. | |
| Unaudited Interim Condensed Financial Statements | Unaudited Interim Condensed Financial Statements |
| We have prepared our unaudited interim condensed financial statements included herein pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to these rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. In our opinion, the unaudited interim condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly, in all material respects, our financial position as of March 31, 2015, the interim results of operations for the three months ended March 31, 2015 and 2014, and cash flows for the three months ended March 31, 2015 and 2014. These interim statements have not been audited. The balance sheet as of December 31, 2014 was derived from our audited financial statements included in our annual report on Form 10-K. The interim condensed financial statements contained herein should be read in conjunction with our audited financial statements, including the notes thereto, for the year ended December 31, 2013. The unaudited condensed financial position, results of operations and cash flows for the interim periods disclosed in this report are not necessarily indicative of future financial results. | |
| Use of Estimates | Use of Estimates |
| The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
| Income Taxes (Details) (USD $) | 3 Months Ended | |
| Mar. 31, 2015 | Mar. 31, 2014 | |
| Income Tax Disclosure [Abstract] | ||
| Provision for income taxes | ||
| Related Parties (Details) (USD $) | 3 Months Ended | ||
| Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
| Related Party Transaction [Line Items] | |||
| Accrued liabilities, related parties | $3,636 | $1,737 | |
| Promissory Note Agreement #1 with WestMountain Company amount | 25,000 | 25,000 | |
| Interest rate on promissory note #1 | 18.00% | 18.00% | |
| Principal and accrued interest due | 27,256 | 27,047 | |
| Promissory Note Agreement #1 repayment in full date | 18-Oct-15 | ||
| Promissory Note Agreement #2 with WestMountain Company amount | 10,000 | ||
| Interest rate on promissory note #2 | 18.00% | 18.00% | |
| Promissory Note Agreement #2 repayment in full date | 4-Nov-15 | ||
| Officer [Member] | |||
| Related Party Transaction [Line Items] | |||
| Amount of related party transaction | 500 | ||
| Accrued liabilities, related parties | 500 | ||
| President [Member] | |||
| Related Party Transaction [Line Items] | |||
| Amount of related party transaction | 0 | ||
| Accrued liabilities, related parties | $0 | ||
| Stockholders Equity (Details Narrative) (USD $) | 3 Months Ended | |
| Mar. 31, 2015 | Dec. 31, 2014 | |
| Equity [Abstract] | ||
| Number of shares issued and outstanding | 1,983,150 | |
| Par value | $0.00 | $0.00 |
| Value of shares issued and outstanding | $1,983 |
| Subsequent Events (Details Narrative) (USD $) | 3 Months Ended | |
| Mar. 31, 2015 | Mar. 31, 2014 | |
| Subsequent Events [Abstract] | ||
| Promissory Note Agreement #1 with WestMountain Company amount | $25,000 | $25,000 |
| Interest rate on promissory note #1 | 18.00% | 18.00% |
| Principal and accrued interest due | 27,256 | 27,047 |
| Promissory Note Agreement #1 repayment in full date | 18-Oct-15 | |
| Promissory Note Agreement #2 with WestMountain Company amount | $10,000 | |
| Interest rate on promissory note #2 | 18.00% | 18.00% |
| Promissory Note Agreement #2 repayment in full date | 4-Nov-15 | |
