C & C Tours 10-K 30 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 10, 2017	Jun. 30, 2016
Document And Entity Information
Entity Registrant Name	C & C TOURS INC
Entity Central Index Key	1,430,319
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,937,000
Entity Public Float			$ 0
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash	$ 1,864	$ 864
Total current assets	1,864	864
TOTAL ASSETS	1,864	864
CURRENT LIABILITIES
Accounts payable	44,900	38,000
Loans payable - current	89,240	80,240
Accrued interest	26,187	19,366
Total current liabilities	160,327	137,606
TOTAL LIABILITIES	160,327	137,606
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, 20,000,000 shares authorized at $.001 par value, 2,937,000 shares issued and outstanding at December 31, 2016 and December 31, 2015	2,937	2,937
Additional paid-in capital	34,970	34,970
Accumulated deficit	(196,370)	(174,649)
Total stockholders' equity (deficit)	(158,463)	(136,742)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 1,864	$ 864

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Stockholders' Deficit
Common stock, par value	$ 0.001	$ .001
Common stock, authorized shares	20,000,000	20,000,000
Common stock, issued shares	2,937,000	2,937,000
Common stock, outstanding shares	2,937,000	2,937,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statements Of Operations
Revenues
Expenses
General and administrative	14,900	16,250
Total expenses	14,900	16,250
Net operating loss before other expense	(14,900)	(16,250)
Other income (expense), non-operating
Interest expense	(6,821)	(6,183)
Total other income (expense)	(6,821)	(6,183)
Loss from operations before income taxes	(21,721)	(22,433)
Income taxes
Net loss	$ (21,721)	$ (22,433)
Basic and diluted net loss per share	$ (0.01)	$ (0.01)
Weighted average shares outstanding	2,937,000	2,937,000

Statements of Shareholders_ Equ

Statements of Shareholders’ Equity (Deficit) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Beginning balance, shares at Dec. 31, 2014	2,937,000
Beginning balance, amount at Dec. 31, 2014	$ 2,937	$ 34,970	$ (152,216)
Net loss			(22,433)
Ending balance, shares at Dec. 31, 2015	2,937,000
Ending balance, amount at Dec. 31, 2015	$ 2,937	34,970	(174,649)
Net loss			(21,721)
Ending balance, shares at Dec. 31, 2016	2,937,000
Ending balance, amount at Dec. 31, 2016	$ 2,937	$ 34,970	$ (196,370)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash Flows from Operating Activities
Net loss	$ (21,721)	$ (22,433)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:
Accounts payable	6,900	8,000
Accrued interest	6,821	6,183
Net cash used by operating activities	(8,000)	(8,250)
Cash Flows from Investing Activities
Net cash provided (used) by investing activities
Cash Flows from Financing Activities
Proceeds from loans payable	9,000	8,600
Net cash provided (used) by financing activities	9,000	8,600
Net Increase (Decrease) in Cash	1,000	350
Cash at Beginning of Period	864	514
Cash at End of Period	1,864	864
Supplemental Cash Flow Information:
Cash paid for interest
Cash paid for income taxes

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Organization and Description of Business The Company was organized under the laws of the State of Nevada on February 22, 1989. The Company was organized as a charter bus business specializing in Nevada tours. In 1991, after about 28 months of unsuccessful charter bus business, the operations were discontinued. On June 12, 2012 the Company filed Articles of Continuance in the State of Wyoming effecting a change in domicile from Nevada to Wyoming. The Company is actively seeking potential business opportunities or potential mergers with existing operating companies. Significant Accounting Policies A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements are as follows: a. Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end. b. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. c. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents. d. Basic and Fully Diluted Income (Loss) Per Share In accordance with ASC 260, Earnings Per Share , The computations of basic and fully diluted loss per share of common stock are based on the weighted average number of common shares outstanding during the period of the consolidated financial statements, plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding during the period, or the exercise of convertible debentures. As of December 31, 2016 and 2015, all common stock activity has been included and there were no items considered to be anti-dilutive. Following is a reconciliation of the loss per share for the years ended December 31, 2016 and 2015, respectively: For the Years Ended December 31, 2016 2015 Net (loss) available to common shareholders $ (21,721 ) $ (22,433 ) Weighted average shares 2,937,000 2,937,000 Basic and fully diluted loss per share (based on weighted average shares) $ (0.01 ) $ (0.01 ) e. Concentration of Credit Risk Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash. Our cash balances are maintained in accounts held by major banks and financial institutions located in the United States. The Company does not maintain amounts on deposit with a financial institution that are in excess of the federally insured limit of $250,000. The Company had $0 of cash balances in excess of federally insured limits at December 31, 2016 and 2015.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 2. GOING CONCERN	As shown in the accompanying financial statements, the Company incurred a net loss of $21,721 and $22,433 during the years ended December 31, 2016 and 2015 respectively. This factor, as well as the uncertain conditions that the Company faces relative to capital raising activities, create substantial doubt as to the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 3 - INCOME TAXES	Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. 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. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Net deferred tax liabilities consist of the following components as of December 31, 2016 and 2015: 2016 2015 Deferred tax assets: NOL Carryover $ 28,800 $ 25,600 Allowance for Doubtful Accounts -- -- Related Party Accruals -- -- Deferred tax liabilities Depreciation -- -- Valuation allowance (28,800 ) (25,600 ) Net deferred tax asset $ -- $ -- The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the years ended December 31, 2016 and 2015 due to the following: 2016 2015 Book Income $ (2,800 ) $ (3,400 ) Depreciation -- -- Allowance for Doubtful Accounts -- -- Related Party Accruals -- -- Unrealized Loss -- -- Valuation allowance 2,800 3,400 $ -- $ -- As of December 31, 2016, the Company had net operating loss carryforwards of approximately $192,231 that may be offset against future taxable income from the years 2015 through 2035. No tax benefit has been reported in the December 31, 2016 financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years. The Company did not have any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months. The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of December 31, 2016 and 2015, the Company had no accrued interest or penalties related to uncertain tax positions. The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended December 31, 2015, 2014 and 2013.

COMMON STOCK TRANSACTIONS

COMMON STOCK TRANSACTIONS	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 4 – COMMON STOCK TRANSACTIONS	On May 31, 1991, the Company issued 1,002,500 share of its previously authorized, but unissued common stock for cash valued at $1,002 or $ 0.001 per share On June 26, 1992, the Company issued 2,500 shares of its’ previously authorized, but unissued common stock for services valued at $10, or $0.004 per share. On June 24, 1994, the Company issued 500,000 shares of its’ previously authorized, but unissued common stock for cash valued at $2,000, or $0.004 per share. On June 24, 1994, the Company issued 2,500 shares of its’ previously authorized, but unissued common stock for services valued at $10, or $0.004 per share. On January 20, 1995, the Company issued 500,000 shares of its’ previously authorized, but unissued common stock for cash valued at $2,000, or $0.004 per share. On June 28, 1996, the Company issued 2,000 shares of its’ previously authorized, but unissued common stock for services valued at $8, or $0.004 per share. On June 27, 1997, the Company issued 2,000 shares of its’ previously authorized, but unissued common stock for services valued at $8, or $0.004 per share. On July 16, 2008, the Company issued 840,000 shares of its’ previously authorized, but unissued common stock for services valued at $840, or $0.001 per share. On October 20, 2008, the Company issued 82,000 shares of its’ previously authorized, but unissued common stock for cash valued at $16,400, or $0.20 per share. On October 20, 2008, the Company issued 3,500 shares of its’ previously authorized, but unissued common stock for services valued at $700, or $0.20 per share.

LOANS PAYABLE

LOANS PAYABLE	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 5. LOANS PAYABLE	Loans payable consists of legal and accounting fees and out-of-pocket costs incurred through third parties. These payables are non-collateralized, bear interest at 8%, and are due on demand. As such, these loans are classified as current on the Company’s Balance Sheet. Interest expense for the years ended December 31, 2016 and 2015 totaled $6,821 and $6,183, respectively. No payments on principal or interest have been made to date.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 6 – FAIR VALUE OF FINANCIAL INSTRUMENTS	On January 1, 2008 the Company adopted FASB ASC 820-10-50, “Fair Value Measurements” Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement.

RECENT PRONOUNCEMENT

RECENT PRONOUNCEMENT	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 7 - RECENT PRONOUNCEMENT	On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915). Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders’ equity, (2) label the financial statements as those of a development stage entity; (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued. The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

COMMITMENTS AND CONTINGINCIES

COMMITMENTS AND CONTINGINCIES	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 8 - COMMITMENTS AND CONTINGINCIES	The Company has not entered into or been engaged in any commitments or contingencies for the fiscal years ended December 31, 2016 and 2015. As such, no liability has been recorded on the financial statements for any contingent liability or commitment. The Company has read and addressed SAB Topic 5T and believes all contributed services provided have been accounted for.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
NOTE 9 - SUBSEQUENT EVENTS	The Company has evaluated subsequent events pursuant to ASC No. 855 and determined there are not any material subsequent events occurring after the date of the balance sheet through the date these financial statements were issued requiring disclosure in the accompanying financial statements

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Accounting Method	The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end.
Use of Estimates	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents.
Basic and Fully Diluted Income (Loss) Per Share	In accordance with ASC 260, Earnings Per Share , The computations of basic and fully diluted loss per share of common stock are based on the weighted average number of common shares outstanding during the period of the consolidated financial statements, plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding during the period, or the exercise of convertible debentures. As of December 31, 2016 and 2015, all common stock activity has been included and there were no items considered to be anti-dilutive. Following is a reconciliation of the loss per share for the years ended December 31, 2016 and 2015, respectively: For the Years Ended December 31, 2016 2015 Net (loss) available to common shareholders $ (21,721 ) $ (22,433 ) Weighted average shares 2,937,000 2,937,000 Basic and fully diluted loss per share (based on weighted average shares) $ (0.01 ) $ (0.01 )
Concentration of Credit Risk	Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash. Our cash balances are maintained in accounts held by major banks and financial institutions located in the United States. The Company does not maintain amounts on deposit with a financial institution that are in excess of the federally insured limit of $250,000. The Company had $0 of cash balances in excess of federally insured limits at December 31, 2016 and 2015.

ORGANIZATION AND SUMMARY OF S17

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Reconciliation of loss per share	For the Years Ended December 31, 2016 2015 Net (loss) available to common shareholders $ (21,721 ) $ (22,433 ) Weighted average shares 2,937,000 2,937,000 Basic and fully diluted loss per share (based on weighted average shares) $ (0.01 ) $ (0.01 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes Tables
Net deferred tax liabilities	2016 2015 Deferred tax assets: NOL Carryover $ 28,800 $ 25,600 Allowance for Doubtful Accounts -- -- Related Party Accruals -- -- Deferred tax liabilities Depreciation -- -- Valuation allowance (28,800 ) (25,600 ) Net deferred tax asset $ -- $ --
Income tax provision	2016 2015 Book Income $ (2,800 ) $ (3,400 ) Depreciation -- -- Allowance for Doubtful Accounts -- -- Related Party Accruals -- -- Unrealized Loss -- -- Valuation allowance 2,800 3,400 $ -- $ --

ORGANIZATION AND SUMMARY OF S19

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Organization And Summary Of Significant Accounting Policies Details
Net (loss) available to Common shareholders	$ (21,721)	$ (22,433)
Weighted average shares	2,937,000	2,937,000
Basic and fully diluted loss per share (based on weighted average shares)	$ (0.01)	$ (0.01)

ORGANIZATION AND SUMMARY OF S20

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narratives) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Organization And Summary Of Significant Accounting Policies Details Narratives
State Country Name	Nevada
Date of Incorporation	Feb. 22, 1989
Cash balance in excess of federally insured limits	$ 0	$ 0
Cash limit	$ 250,000

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Going Concern Details Narrative
Net (loss)	$ (21,721)	$ (22,433)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
NOL Carryover	$ 28,800	$ 25,600
Allowance for Doubtful Accounts
Related Party Accruals
Deferred tax liabilities
Depreciation
Valuation allowance	(28,800)	(25,600)
Net deferred tax asset

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Taxes Details 1
Book Income	$ (2,800)	$ (3,400)
Depreciation
Allowance for Doubtful Accounts
Related Party Accruals
Unrealized Loss
Valuation allowance	2,800	3,400
Income tax provision

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)
Income Taxes Details Narrative
Net operating loss carryforwards	$ 192,231
Expiry year	2015 through 2035

COMMON STOCK TRANSACTIONS (Deta

COMMON STOCK TRANSACTIONS (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
May 31, 1991 [Member]
Common stock, shares | shares	1,002,500
Common stock, value | $	$ 1,002
Share price | $ / shares	$ 0.001
June 26, 1992 [Member]
Common stock, shares for service | shares	2,500
Common stock, value for service | $	$ 10
Share price for service | $ / shares	$ 0.004
June 24, 1994 [Member]
Common stock, shares | shares	500,000
Common stock, value | $	$ 2,000
Share price | $ / shares	$ 0.004
Common stock, shares for service | shares	2,500
Common stock, value for service | $	$ 10
Share price for service | $ / shares	$ 0.004
January 20, 1995 [Member]
Common stock, shares | shares	500,000
Common stock, value | $	$ 2,000
Share price | $ / shares	$ 0.004
June 28, 1996 [Member]
Common stock, shares for service | shares	2,000
Common stock, value for service | $	$ 8
Share price for service | $ / shares	$ 0.004
June 27, 1997 [Member]
Common stock, shares for service | shares	2,000
Common stock, value for service | $	$ 8
Share price for service | $ / shares	$ 0.004
July 16, 2008 [Member]
Common stock, shares for service | shares	840,000
Common stock, value for service | $	$ 840
Share price for service | $ / shares	$ 0.001
October 20, 2008 [Member]
Common stock, shares | shares	82,000
Common stock, value | $	$ 16,400
Share price | $ / shares	$ 0.20
Common stock, shares for service | shares	3,500
Common stock, value for service | $	$ 700
Share price for service | $ / shares	$ 0.20

LOANS PAYABLE (Details Narrativ

LOANS PAYABLE (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Notes to Financial Statements
Interest expense	$ 6,821	$ 6,183
Interest rate	8.00%