| Document and Entity Information | 6 Months Ended | |
| Jun. 30, 2014 | Mar. 31, 2015 | |
| Document And Entity Information | ||
| Entity Registrant Name | Plata Resources, Inc. | |
| Entity Central Index Key | 1424151 | |
| Document Type | 10-Q | |
| Document Period End Date | 30-Jun-14 | |
| Amendment Flag | FALSE | |
| Current Fiscal Year End Date | -19 | |
| Is Entity a Well-known Seasoned Issuer? | No | |
| Is Entity a Voluntary Filer? | No | |
| Is Entity's Reporting Status Current? | No | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Common Stock, Shares Outstanding | 63,800,000 | |
| Document Fiscal Period Focus | Q2 | |
| Document Fiscal Year Focus | 2014 |
| CONDENSED BALANCE SHEETS (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
| CURRENT ASSETS | ||
| Cash | ||
| TOTAL CURRENT ASSETS | 0 | 0 |
| CURRENT LIABILITIES | ||
| Accounts payable | 16,230 | 21,506 |
| Advances from related parties | 27,341 | 20,665 |
| TOTAL CURRENT LIABILITIES | 43,571 | 42,171 |
| STOCKHOLDERS' DEFICIENCY | ||
| Common stock Issued and outstanding 750,000,000 shares authorized, at $0.001 par value 63,800,000 shares issued and outstanding (December 31, 2013 - 63,800,000) | 63,800 | 63,800 |
| Additional paid-in capital | 41,900 | 41,900 |
| Accumulated Deficit | -149,271 | -147,871 |
| TOTAL STOCKHOLDERS' DEFICIENCY | -43,571 | -42,171 |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | $0 | $0 |
| CONDENSED BALANCE SHEETS (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
| Condensed Balance Sheets Parenthetical | ||
| Common stock, par value | $0.00 | $0.00 |
| Common stock, shares authorized | 750,000,000 | 750,000,000 |
| Common stock, shares issued | 63,800,000 | 63,800,000 |
| Common stock, shares outstanding | 63,800,000 | 63,800,000 |
| CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
| Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
| Condensed Statements Of Operations | ||||
| REVENUE | ||||
| EXPENSES | ||||
| General and administrative | 1,400 | 2,837 | 1,400 | 10,963 |
| Total Operating Expenses | 1,400 | 2,837 | 1,400 | 10,963 |
| NET LOSS | ($1,400) | ($2,837) | ($1,400) | ($10,963) |
| BASIC AND DILUTED LOSS PER COMMON SHARE | $0 | $0 | $0 | $0 |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING-BASIC AND DILUTED | 63,800,000 | 63,800,000 | 63,800,000 | 63,800,000 |
| CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 6 Months Ended | |
| Jun. 30, 2014 | Jun. 30, 2013 | |
| OPERATING ACTIVITIES | ||
| Net loss for the period | ($1,400) | ($10,963) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Expenses paid by officers | 6,676 | 3,500 |
| Changes in operating assets and liabilities: | ||
| Accounts payable | -5,276 | 7,094 |
| NET CASH USED IN OPERATING ACTIVITIES | -369 | |
| INVESTING ACTIVITIES | ||
| FINANCING ACTIVITIESIES | ||
| NET DECREASE IN CASH | -369 | |
| CASH AT BEGINNING OF PERIOD | 369 | |
| CASH AT END OF PERIOD | ||
| Nature Of Operations And Basis Of Presentation | 6 Months Ended |
| Jun. 30, 2014 | |
| Nature Of Operations And Basis Of Presentation | |
| Note 1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION | Nature of Operations |
| The Company, Plata Resources, Inc., was incorporated under the laws of the State of Nevada on July 17, 2007 with the authorized capital stock of 750,000,000 shares at $0.001 par value. | |
| The Company was organized for the purpose of acquiring and developing mineral properties. At the report date mineral claims, with unknown reserves, had been acquired. The Company has not yet established the existence of a commercially minable ore deposit. | |
| Basis of Presentation | |
| The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. |
| Going Concern | 6 Months Ended |
| Jun. 30, 2014 | |
| Going Concern | |
| Note 2. GOING CONCERN | To date the Company has generated no revenues from its business operations and has incurred operating losses since inception of $149,271. As of June 30, 2014, the Company has a working capital deficit of $43,571. The Company requires additional funding to meet its ongoing obligations and to fund anticipated operating losses. The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. |
| Summary Of Significant Accounting Policies | 6 Months Ended | ||
| Jun. 30, 2014 | |||
| Summary Of Significant Accounting Policies | |||
| Note 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Accounting Method | ||
| The Company recognizes income and expenses based on the accrual method of accounting. | |||
| Dividend Policy | |||
| The Company has not yet adopted a policy regarding payment of dividends. | |||
| Basic and Diluted Loss per Share | |||
| The Company computes loss per share in accordance with “ASC-260,” “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all common stock equivalents if their effect is anti-dilutive. As of June 30, 2014 and 2013, there were no dilutive common stock equivalents outstanding. | |||
| 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||
| Income Taxes | |||
| The Company follows the liability method of accounting for income taxes in accordance with FASB accounting standards for Accounting for Income Taxes and Accounting for Uncertainty in Income Taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. | |||
| Foreign Currency Translations | |||
| The books of the Company are maintained in United States dollars and this is the Company’s functional and reporting currency. Translations denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statement of Operations: | |||
| (i) | Monetary items are recorded at the rate of exchange prevailing as at the balance sheet date; | ||
| (ii) | Non-Monetary items including equity are recorded at the historical rate of exchange; and | ||
| (iii) | Revenues and expenses are recorded at the period average in which the transaction occurred. | ||
| Impairment of Long-Lived Assets | |||
| The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicated that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment of Disposal of Long-Lived Assets. | |||
| Fair Value of Financial Instruments | |||
| The estimated fair values of financial instruments were determined by management using available market information and appropriate valuation methodologies. The carrying amounts of financial instruments including cash approximate their fair value because of their short maturities. | |||
| Revenue Recognition | |||
| The Company has no revenues to date from its operations. Once revenues are generated, management will establish a revenue recognition policy | |||
| Advertising Costs | |||
| The Company accounts for its advertising cost in accordance with ASC 720. The Company expenses advertising costs as incurred. For the periods ended June 30, 2014 and June 30, 2013, the Company incurred no advertising expenses. | |||
| Statement of Cash Flows | |||
| For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. | |||
| Mineral Claim Acquisition and Exploration Costs | |||
| Mineral property acquisition costs are initially capitalized when incurred. These costs are then assessed for impairment when factors are present to indicate the carrying costs may not be recoverable. Mineral exploration costs are expensed as incurred. | |||
| Environmental Requirements | |||
| At the report date environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made. | |||
| Recent Accounting Pronouncements | |||
| In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The guidance eliminates the definition of a development stage entity thereby removing the incremental financial reporting requirements from U.S. GAAP for development stage entities, primarily presentation of inception to date financial information. The provisions of the amendments are effective for annual reporting periods beginning after December 15, 2014, and the interim periods therein. However, early adoption is permitted. Accordingly, the Company has early adopted this standard for presentation purposes in these financial statements. | |||
| The Company does not expect the adoption of any other recent accounting pronouncements to have a material impact on its financial statements. | |||
| Acquisition Of Mineral Claim | 6 Months Ended |
| Jun. 30, 2014 | |
| Acquisition Of Mineral Claim | |
| Note 4. ACQUISITION OF MINERAL CLAIM | On August 1, 2007, the Company acquired the Bontoc Gold Claim located in the Republic of Philippines from Castillo Explorations LLC., an unrelated company, for considerations of $5,000. The Bontoc Gold Claim is located in the Philippines near the town of Bontoc. Under Philippine law, the claim remains in good standing as long as the Company has an interest in it. There is no annual maintenance fee or minimum exploration work required on the claim. |
| As of December 31, 2007, the Company determined the $5,000 mineral property acquisition cost was impaired, and recorded a related impairment loss in the statement of operations. |
| Significant Transactions With Related Parties | 6 Months Ended |
| Jun. 30, 2014 | |
| Significant Transactions With Related Parties | |
| Note 5. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES | The Company’s two directors have acquired 56% of the common stock issued and outstanding. During the six months ended June 30, 2014 and 2013, the Company’s two directors paid expenses on behalf of the Company of $6,676 and $3,500, respectively (reported as advances from related parties on the balance sheet). Advances from related parties are non-interest bearing and payable on demand. |
| Capital Stock | 6 Months Ended |
| Jun. 30, 2014 | |
| Capital Stock | |
| Note 6. CAPITAL STOCK | On September 18, 2007, the Company completed a private placement consisting of 40,000,000 post-split common shares sold to the directors and officers for a total consideration of $2,000. |
| On October 31, 2007, the Company completed a private placement of 23,800,000 post-split common shares for a total consideration of $59,500. | |
| On January 22, 2009, the shareholders of the Company approved a 20 to 1 forward split, resulting in an increase of the outstanding shares of common stock from 3,190,000 to 63,800,000. |
| Subsequent Events | 6 Months Ended |
| Jun. 30, 2014 | |
| Subsequent Events | |
| Note 7. SUBSEQUENT EVENTS | On November 23, 2014, the directors approved the cancellation of a stock dividend in the amount of 127,600,000 common shares, which were issued on March 6, 2012, in error. All share capital amounts have been retroactively restated to reflect this cancellation. |
| Summary Of Significant Accounting Policies (Policies) | 6 Months Ended | ||
| Jun. 30, 2014 | |||
| Summary Of Significant Accounting Policies Policies | |||
| Accounting Method | The Company recognizes income and expenses based on the accrual method of accounting. | ||
| Dividend Policy | The Company has not yet adopted a policy regarding payment of dividends. | ||
| Basic and Diluted Loss per Share | The Company computes loss per share in accordance with “ASC-260,” “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all common stock equivalents if their effect is anti-dilutive. As of June 30, 2014 and 2013, there were no dilutive common stock equivalents outstanding. | ||
| 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||
| Income Taxes | The Company follows the liability method of accounting for income taxes in accordance with FASB accounting standards for Accounting for Income Taxes and Accounting for Uncertainty in Income Taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. | ||
| Foreign Currency Translations | The books of the Company are maintained in United States dollars and this is the Company’s functional and reporting currency. Translations denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statement of Operations: | ||
| (i) | Monetary items are recorded at the rate of exchange prevailing as at the balance sheet date; | ||
| (ii) | Non-Monetary items including equity are recorded at the historical rate of exchange; and | ||
| (iii) | Revenues and expenses are recorded at the period average in which the transaction occurred. | ||
| Impairment of Long-Lived Assets | The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicated that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment of Disposal of Long-Lived Assets. | ||
| Fair value of financial instruments | The estimated fair values of financial instruments were determined by management using available market information and appropriate valuation methodologies. The carrying amounts of financial instruments including cash approximate their fair value because of their short maturities. | ||
| Revenue Recognition | The Company has no revenues to date from its operations. Once revenues are generated, management will establish a revenue recognition policy. | ||
| Advertising Costs | The Company accounts for its advertising cost in accordance with ASC 720. The Company expenses advertising costs as incurred. For the periods ended June 30, 2014 and June 30, 2013, the Company incurred no advertising expenses. | ||
| Statement of Cash Flows | For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. | ||
| Mineral Claim Acquisition and Exploration Costs | Mineral property acquisition costs are initially capitalized when incurred. These costs are then assessed for impairment when factors are present to indicate the carrying costs may not be recoverable. Mineral exploration costs are expensed as incurred. | ||
| Environmental Requirements | At the report date environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made. | ||
| Recent Accounting Pronouncements | In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The guidance eliminates the definition of a development stage entity thereby removing the incremental financial reporting requirements from U.S. GAAP for development stage entities, primarily presentation of inception to date financial information. The provisions of the amendments are effective for annual reporting periods beginning after December 15, 2014, and the interim periods therein. However, early adoption is permitted. Accordingly, the Company has early adopted this standard for presentation purposes in these financial statements. | ||
| The Company does not expect the adoption of any other recent accounting pronouncements to have a material impact on its financial statements. | |||
| Going Concern (Details Narrative) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
| Going Concern Details Narrative | ||
| Accumulated deficit | ($149,271) | ($147,871) |
| Working Capital Deficit | $43,571 |
| Significant Transactions With Related Parties (Details Narrative) (USD $) | 6 Months Ended | ||
| Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | |
| Percent ownership directors | 56.00% | ||
| Advances from related parties | $27,341 | $20,665 | |
| Director [Member] | |||
| Advances from related parties | $6,676 | $3,500 |
