Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 14, 2014 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'NORTHSIGHT CAPITAL, INC. | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001439397 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 98,178,196 |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
CONDENSED_BALANCE_SHEETS_Unaud
CONDENSED BALANCE SHEETS (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Current Assets | ' | ' |
Cash | $258,175 | $0 |
Prepaid Expenses | 22,000 | 0 |
Total Current Assets | 280,175 | 0 |
Property and equipment, net of $-210- depreciation | 4,005 | ' |
Web Development Costs, net of $-0- amortization | 105,000 | ' |
Domain Registrations, net of $-0- amortization | 180,544 | ' |
Total Assets | 569,724 | 0 |
Current Liabilities | ' | ' |
Accounts payable and accrued expenses | 15,220 | 61,730 |
Accounts payable and accrued expenses - related party | 35,784 | 0 |
Notes payable - related party | 100,000 | 0 |
Total Current Liabilities | 151,004 | 61,730 |
Commitments and Contingencies | 0 | 0 |
Stockholders' Equity (Deficit) | ' | ' |
Preferred stock - 10,000,000 shares authorized having a par value of $.001 per share; 0 shares issued and outstanding | 0 | 0 |
Common stock - 200,000,000 shares authorized having a par value of $.001 per share; 96,450,196 and 12,500,000 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively | 96,450 | 12,500 |
Subscription receivable | -20,000 | -50,000 |
Additional paid-in capital | 2,280,069 | 717,419 |
Accumulated deficit during the development stage | -1,937,799 | -741,649 |
Total Stockholders' Deficit | 418,720 | -61,730 |
Total Liabilities and Stockholders' Deficit | $569,724 | $0 |
BALANCE_SHEETS_PARENTHETICALS_
BALANCE SHEETS PARENTHETICALS (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Parentheticals | ' | ' |
Preferred Stock, par value | $0.00 | $0.00 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares authorized | 200,000,000 | 200,000,000 |
Common Stock, shares issued | 96,450,196 | 12,500,000 |
Common Stock, shares outstanding | 96,450,196 | 12,500,000 |
Net Depreciation of property and plant | $210 | $0 |
Net amortization of web development cost | 0 | 0 |
Net amortization of Domain Registration | $0 | $0 |
CONDENSED_STATEMENTS_OF_OPERAT
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | 73 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Income Statement | ' | ' | ' | ' | ' |
Revenues | $0 | $0 | $0 | $0 | $0 |
Operating Expenses: | ' | ' | ' | ' | ' |
General administrative | 101,534 | 497 | 109,668 | 1,679 | 175,670 |
Settlement Expense | 932,500 | 0 | 932,500 | 0 | 932,500 |
Business plan development - related party | 0 | 0 | 0 | 0 | 10,000 |
Consulting expense - related party | 9,500 | 0 | 9,500 | 0 | 389,850 |
Executive compensation | 6,000 | 0 | 6,000 | 0 | 11,100 |
Professional fees | 88,676 | 8,421 | 121,324 | 19,824 | 370,928 |
Rent - related party | 7,000 | 0 | 7,000 | 0 | 45,200 |
Research and development - related party | 0 | 0 | 0 | 0 | 10,850 |
Travel | 3,486 | 0 | 7,416 | 0 | 18,528 |
Total operating expenses | 1,148,696 | 8,918 | 1,193,408 | 21,503 | 1,964,626 |
Loss from operations | -1,148,696 | -8,918 | 1,193,408 | -21,503 | -1,964,626 |
Other Income (Expenses) | ' | ' | ' | ' | ' |
Interest expense | -2,671 | 0 | -2,742 | 0 | -5,441 |
Forgiveness of debt | 0 | 0 | 0 | 0 | 32,268 |
Total Other Income (Expenses) | -2,671 | 0 | -2,742 | 0 | -26,827 |
Net Loss | ($1,151,367) | ($8,918) | ($1,196,150) | ($21,503) | ($1,937,799) |
Weighted Average Number of Common Share | ' | ' | ' | ' | ' |
Outstanding - Basic and Diluted | 44,113,549 | 12,500,000 | 28,631,530 | 12,500,000 | 0 |
Loss per Common Share - Basic and Diluted | ($0.03) | ($0.01) | ($0.04) | ($0.01) | $0 |
CONDENSED_STATEMENTS_OF_CASH_F
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 6 Months Ended | 73 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Cash Flows From Operating Activities | ' | ' | ' |
Net loss | ($1,196,150) | ($21,503) | ($1,937,799) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Depreciation of property and equipment | 210 | 0 | 210 |
Gain on forgiveness of debt | 0 | 0 | -32,268 |
Stock issued for release | 932,500 | 0 | 932,500 |
Shares issued for services | 0 | 0 | 10,000 |
Corporate expenses paid by shareholders | 71 | 17,252 | 97,881 |
Warrants issued for payment of services | 0 | 0 | 10,900 |
Changes in operating assets and liabilities: | ' | ' | ' |
Prepaid expenses | -22,000 | -2,363 | -22,000 |
Accounts payable and accrued expenses | -16,560 | 1,888 | 77,438 |
Accounts payable - related party | 63,113 | 0 | 153,540 |
Interest payable - related party | 2,671 | 0 | 5,370 |
Net Cash Used In Operating Activities | -236,145 | 0 | -704,228 |
Cash Flows From Investing Activities | ' | ' | ' |
Purchase of property and equipment | 4,215 | 0 | 4,215 |
Purchase of web development costs | -105,000 | 0 | -105,000 |
Purchase of domain registrations | -149,265 | 0 | -149,265 |
Net Cash Used In Investing Activities | -258,480 | 0 | -258,480 |
Cash Flows From Financing Activities | ' | ' | ' |
Proceeds from sale of common stock, net of offering costs | 752,800 | 0 | 1,088,800 |
Proceeds from donated capital | 0 | 0 | 121,994 |
Proceeds from notes payable | 0 | 0 | 65,000 |
Payments on notes payable | 0 | 0 | -55,000 |
Proceeds from notes payable - related party | 0 | 0 | 29,340 |
Payments to notes payable - related party | 0 | 0 | -29,251 |
Net Cash Provided by Financing Activities | 752,800 | 0 | 1,220,883 |
Net Increase (Decrease) In Cash | 258,175 | 0 | 258,175 |
Cash, Beginning of Year | 0 | 0 | 0 |
Cash, End of Year | 258,175 | 0 | 258,175 |
Supplemental Disclosure of Cash Flow Information: | ' | ' | ' |
Cash paid for interest | 0 | 0 | 0 |
Cash paid for income taxes | 0 | 0 | 0 |
Non-Cash Activities: | ' | ' | ' |
Issuance of common stock for domain names | 31,279 | 0 | 31,279 |
Issuance of note payable for domain names | 100,000 | 0 | 100,000 |
Cancellation of shares returned to company | 1,676 | 0 | 1,676 |
Finders fees settled with stock | 29,950 | 0 | 29,950 |
Subscriptions receivable - related party | 30,000 | 0 | 30,000 |
Conversion of debt to equity | 0 | 0 | 26,681 |
Forgiveness of debt by principal owner credited to additional paid-in capital | 0 | 0 | 93,215 |
Subscription receivable from Parent company | $0 | $0 | $50,000 |
ORGANIZATION_AND_BASIS_OF_PRES
ORGANIZATION AND BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2014 | |
ORGANIZATION AND BASIS OF PRESENTATION | ' |
ORGANIZATION AND BASIS OF PRESENTATION | ' |
NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION | |
Northsight Capital Inc. (“Northsight” or “the Company”) is a development stage company incorporated in the State of Nevada on May 21, 2008. In May, 2011, Safe Communications, Inc. (n/k/a Kuboo, Inc.) acquired 80% of the Company’s issued and outstanding common stock, and, as a result became its parent company. On June 25, 2014, the Company completed the acquisition of approximately 7500 cannabis related Internet domain names, in exchange for which the Company issued 78.5 million shares of its common stock and a promissory note in the principal amount of $500,000. As a result of this transaction, the seller of the domain names became an 81% stockholder of the Company. See Note 9 - Related Party Transactions. | |
The accompanying financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The interim financial statements reflect all adjustments, consisting of normal recurring adjustments which, in the opinion of management, are necessary to present a fair statement of the results for the period. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three and six month periods ended June 30, 2014, are not necessarily indicative of the operating results for the full year. |
Liquidity_and_Going_Concern
Liquidity and Going Concern | 6 Months Ended |
Jun. 30, 2014 | |
Liquidity and Going Concern | ' |
Liquidity and Going Concern | ' |
NOTE 2 – LIQUIDITY/GOING CONCERN | |
The Company is a development stage enterprise and has accumulated losses of $1,937,799 and has had negative cash flows from operating activities of $704,228 since inception (May 2008). These factors raise substantial doubt about the Company’s ability to continue as a going concern. | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. Since the Company recently raised capital through the sale of equity, the Company has cash available for the payment of operating expenses for the near term. Management plans to fund continued operations of the Company by eventually generating profits from operations and raising sufficient capital through placement of additional shares of its common stock or issuance of debt securities. | |
In the event the Company does not generate sufficient funds from revenues or financing through the issuance of its common stock or from debt financing, the Company may be unable to fully implement its business plan and pay its obligations as they become due, any of which circumstances would have a material adverse effect on its business prospects, financial condition, and results of operations. The accompanying financial statements do not include any adjustments that might be required should the Company be unable to recover the value of its assets or satisfy its liabilities. |
RECENT_ACCOUNTING_PRONOUNCEMEN
RECENT ACCOUNTING PRONOUNCEMENTS | 6 Months Ended |
Jun. 30, 2014 | |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS | |
On June 10, 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard that reduces some of the disclosure and reporting requirements for development stage entities. The change will be effective for interim and annual reporting periods beginning after December 15, 2014. As of such date, among other things, development stage entities will no longer be required to report inception-to-date information. |
WEB_DEVELOPMENT_COSTS_AND_DOMA
WEB DEVELOPMENT COSTS AND DOMAIN NAMES ASSETS | 6 Months Ended |
Jun. 30, 2014 | |
WEB DEVELOPMENT COSTS AND DOMAIN NAMES ASSETS | ' |
WEB DEVELOPMENT COSTS AND DOMAIN NAMES ASSETS | ' |
NOTE 4 – WEB DEVELOPMENT COSTS AND DOMAIN NAMES ASSETS | |
In accordance with ASC 350.50, during the six months ended June 30, 2014, the Company capitalized $105,000 towards the development of a website on which third parties can advertise the sale and distribution of cannabis related products and services: an online “yellow pages.” The Company also capitalized $180,544 towards the purchase of rights for internet domain names, during the six months ended June 30, 2014. The Company does not intend to engage in the sale or distribution of marijuana or related products. The Company recorded website development expenses of $79,480 which is included in general and administrative expenses during the six months ended June 30, 2014. | |
The Company amortizes these assets over their related useful lives (approximately 1 to 5 years), using a straight-line basis. Assets are reviewed for impairment whenever events or changes in circumstances exist that indicate the carrying amount of an asset may not be recoverable, or at least annually. Measurement of the amount of impairment, if any, is based upon the difference between the asset's carrying value and estimated fair value. Fair value is determined through various valuation techniques, including market and income approaches as considered necessary. As of the date of these financial statements, the assets have not been put into service. Therefore, the Company recorded no amortization during the six months ended June 30, 2014. |
PROPERTY_AND_EQUIPMENT
PROPERTY AND EQUIPMENT | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Property and equipment consisted of the following | ' | ||||||||||
PROPERTY AND EQUIPMENT | ' | ||||||||||
NOTE 5 – PROPERTY AND EQUIPMENT | |||||||||||
Property and equipment consisted of the following at June 30, 2014 and December 31, 2013: | |||||||||||
As of June 30, 2014 | As of December 31, 2013 | Estimated Useful Life | |||||||||
Furniture and equipment | 4,215 | - | 3 years | ||||||||
Total | 4,215 | - | |||||||||
Less: Accumulated depreciation | -210 | - | |||||||||
$ | 4,005 | $ | - | ||||||||
The Company records depreciation expense on a straight-line basis over the estimated life of the related asset (approximately 3 years). The company recorded depreciation expense of $210 for the six months ended June 30, 2014. |
NOTES_PAYABLE_RELATED_PARTY
NOTES PAYABLE RELATED PARTY | 6 Months Ended |
Jun. 30, 2014 | |
NOTES PAYABLE RELATED PARTY | ' |
NOTES PAYABLE RELATED PARTY | ' |
NOTE 6 – NOTES PAYABLE RELATED PARTY | |
On June 23, 2014, the Company issued a $500,000 promissory note in conjunction with the purchase of approximately 7,500 cannabis-related internet domain names. The note bears interest at the rate of 3.25% per annum and is payable as follows: upon the Company’s receipt of an aggregate of $1,000,000 in funding (whether debt or equity), $100,000 shall be paid to the note holder. The remaining $400,000 is payable in thirty-six equal monthly installments, commencing on the fifteenth day following the first month the Company realizes at least $150,000 in gross revenue. Since the $400,000 represents a contingency, such amount has not been recorded as debt (see Note 10 - Commitments and Contingencies). The Company incurred interest expense of $2,671 on the note during the three ended June 30, 2014. The note was amended and restated on July 25, 2014. See Note 11 - Subsequent Events. |
EQUITY
EQUITY | 6 Months Ended |
Jun. 30, 2014 | |
EQUITY | ' |
EQUITY | ' |
NOTE 7 - EQUITY | |
During the three months ended March 31, 2014, the Company sold 2,426,000 shares of its common stock for $592,750 in cash proceeds. The Company incurred a finder’s fee of $24,450, which the company has satisfied through the issuance of 97,800 shares of common stock. | |
During the three months ended June 30, 2014, the Company sold 400,000 shares of its common stock for $100,000 in gross cash proceeds. The Company incurred a finder’s fee of $5,500, which the company has satisfied through the issuance of 22,000 shares of common stock. | |
Effective, April 9, 2014, certain shareholders of the Company surrendered to the Company for cancellation 1,675,604 shares of the Company’s common stock in accordance with the April 2014 Agreement described in the Company’s Current Report on Form 8-K filed with the Commission April 15, 2014. | |
On April 14, 2014, the Company issued an aggregate of 3,730,000 restricted shares of its common stock to the shareholders of NCAP Security Systems, Inc. (other than Kuboo, Inc., its parent company), in cancellation of an equal number of shares of NCAP Security Systems, Inc. The Company’s common shares were issued in full and complete satisfaction of any and all amounts that could be claimed in relation to the shareholders’ investment in NCAP Security Systems, Inc. The Company recorded settlement expense of $932,500 in connection with this transaction. | |
In April, 2014, the Company received $90,000 from the exercise of outstanding warrants to purchase 450,000 shares of common stock, at an exercise price of $.20 per share. | |
In May 2014, the Company entered into an asset purchase agreement to acquire approximately 7,500 cannabis-related internet domain names in exchange for 78.5 million shares of the Company’s restricted common stock and other considerations (see Note 9 – Related Party Transactions). |
WARRANTS
WARRANTS | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
WARRANTS: | ' | |||||||
WARRANTS | ' | |||||||
NOTE 8 – WARRANTS | ||||||||
At June 30, 2014, there were 775,000 warrants outstanding to purchase a like number of shares of the Company’s common stock at an exercise price of $0.20 per share. These warrants have a term of three years and were issued in connection with the payment of certain Company expenses by Kuboo during the quarter ended September 30, 2011. These warrants are no longer held by Kuboo, as they were subsequently transferred to certain investors. | ||||||||
A summary of the status of the Company’s outstanding stock warrants as of June 30, 2014 and changes during the six month period then ended is presented below: | ||||||||
Warrants | Weighted Average Exercise Price | Weighted Remaining Contractual Life | ||||||
Outstanding, December 31, 2013 | 1,225,000 | $ | 0.2 | 0.75 | ||||
Granted | - | - | - | |||||
Expired/Cancelled | - | - | - | |||||
Exercised | -450,000 | 0.2 | - | |||||
Outstanding, June 30, 2014 | 775,000 | $ | 0.2 | 0.25 | ||||
Exercisable, June 30, 2014 | 775,000 | $ | 0.2 | 0.25 |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2014 | |
RELATED PARTY TRANSACTIONS | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 9 – RELATED PARTY TRANSACTIONS | |
Effective May 2, 2014, the Company entered into an asset purchase agreement with Kae Park (the “Seller”), a related party. The acquisition was closed on June 23, 2014. | |
Under this agreement, the Company agreed to acquire approximately 7,500 cannabis related Internet domain names, in exchange for which, the Company: | |
(a) Issued to the Seller on the closing date 78.5 million shares of the Company’s restricted common stock which represents approximately 81% of the Company’s issued and outstanding common stock; | |
(b) Issued to the Seller a promissory note in the principal amount of $500,000. The note bears interest at the rate of 3.25% per annum and is payable as follows: upon the Company’s receipt of an aggregate of $1,000,000 in funding (whether debt or equity), $100,000 shall be paid, and the Company shall pay the remaining balance of $400,000 in thirty-six equal monthly installments, commencing on the fifteenth day following the first month the Company realizes at least $150,000 in gross revenue; and | |
(c) Is obligated to pay a monthly royalty to the Seller equal to the product of (i) six percent (6%) and (ii) the excess of the Company’s gross monthly revenue over $150,000 (“Royalty Payment”). The Royalty Payment shall be payable for a period of thirty six months from and after the first month in which the Company has gross revenues in excess of $150,000. | |
The above referenced Promissory Note was amended and restated on July 25, 2014, see Note 11 - Subsequent Events. | |
In addition, the Seller is required to provide such consulting services as the Company may require during the twelve month period following the closing of the acquisition. In consideration for these services, the Company is required to pay the Seller $9,500 per month, for a period of twelve months, commencing on the closing date and, on the first of each month thereafter. | |
The Company is headquartered in Scottsdale, Arizona where it rents space from Kuboo, Inc., its former parent company and a significant shareholder. Currently, the Company is renting approximately 1,150 square feet of space on a month-to-month basis. The monthly rent for this facility is $3,500. This is an arrangement under which the landlord pays taxes, utilities and maintenance and repairs. The monthly rent also includes internet, a receptionist, and a shared conference room and employee lounge area. | |
During the quarter ended June 30, 2014, the Company paid an aggregate of $59,525 to the spouse of the Company’s controlling shareholder, Kae Yong Park, in consideration for the purchase of cannabis related internet domain names and related services rendered. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2014 | |
COMMITMENTS AND CONTINGENCIES | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 10 – COMMITMENTS AND CONTINGENCIES | |
In May 2014, The Company entered into an asset purchase agreement pursuant to which it agreed to pay the seller $9,500 per month for a period of 12 months, for consulting services to be provided. This agreement also requires, the Company to pay a monthly royalty equal to six percent of gross monthly revenues over $150,000. The royalty payment is payable for a period of thirty-six months from and after the first month in which the Company’s gross revenues are in excess of $150,000 (see Note 9 - Related Party Transactions). | |
On June 23, 2014, the Company issued a $500,000 promissory note in conjunction with the purchase of approximately 7,500 cannabis-related internet domain names. The note bears interest at the rate of 3.25% per annum and is payable as follows: upon the Company’s receipt of an aggregate of $1,000,000 in funding (whether debt or equity), $100,000 is required to be paid. The remaining $400,000 is payable in thirty-six equal monthly installments, commencing on the fifteenth day following the first month the Company realizes at least $150,000 in gross revenue. Since the $400,000 represents a contingency, such amount has not been recorded as debt. | |
The note was amended and restated on July 25, 2014. See Note 11 - Subsequent Events |
Subsequent_Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events: | ' |
Subsequent Events | ' |
NOTE 11 - SUBSEQUENT EVENTS | |
On July 25, 2014, the Company amended and restated its promissory note in the principal amount of $500,000 owing to Kae Yong Park (the Company’s majority shareholder) to provide that it would make the first $100,000 installment payment due under the Note on July 25, 2014 (earlier than required), in exchange for which Kae Yong Park agreed to waive all interest due over the term of the note. Kae Yong Park has waived the requirement that the Company pay the $100,000 due under the Amended and Restated Note, until August 25, 2014. | |
Since June 30, 2014, the Company sold an additional 1,928,000 shares of common stock at a per-share price of $0.25, for aggregate consideration of $482,000. | |
On July 21, 2014, the Company amended its Certificate of Incorporation to increase the number of its authorized shares from 100,000,000 to 200,000,000. The Company also eliminated its authorized preferred shares. | |
On August 13, 2014, John Bluher became CEO of the Company. His agreement with the Company calls for a base salary of $25,000 per month, a non-accountable monthly expense allowance of $2,500, the issuance of 400,000 shares of Company common stock upon becoming CEO, and the issuance of an additional 750,000 shares of common stock in three equal installments of 250,000 each on October 1, 2014, January 1, 2015 and April 1 2015 (see Exhibit 10.6) | |
On August 15, 2014, the Company acquired 200,000 shares of its common stock for $50,000 (the original purchase price) from an investor who originally purchased 400,000 shares of common stock on July 21, 2014. The Company has canceled the shares and returned them to the status of authorized but unissued shares. |
Property_and_equipment_consist
Property and equipment consisted of the following(TABLE) | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Property and equipment consisted of the following | ' | ||||||||||
Property and equipment consisted of the following | ' | ||||||||||
Property and equipment consisted of the following at June 30, 2014 and December 31, 2013: | |||||||||||
As of June 30, 2014 | As of December 31, 2013 | Estimated Useful Life | |||||||||
Furniture and equipment | 4,215 | - | 3 years | ||||||||
Total | 4,215 | - | |||||||||
Less: Accumulated depreciation | -210 | - | |||||||||
$ | 4,005 | $ | - | ||||||||
Companys_outstanding_stock_war
Company's outstanding stock warrants(TABLE) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Company's outstanding stock warrants | ' | |||||||
Company's outstanding stock warrants | ' | |||||||
Warrants | Weighted Average Exercise Price | Weighted Remaining Contractual Life | ||||||
Outstanding, December 31, 2013 | 1,225,000 | $ | 0.2 | 0.75 | ||||
Granted | - | - | - | |||||
Expired/Cancelled | - | - | - | |||||
Exercised | -450,000 | 0.2 | - | |||||
Outstanding, June 30, 2014 | 775,000 | $ | 0.2 | 0.25 | ||||
Exercisable, June 30, 2014 | 775,000 | $ | 0.2 | 0.25 | ||||
ORGANIZATION_AND_BASIS_OF_PRES1
ORGANIZATION AND BASIS OF PRESENTATION (Details) (USD $) | Jun. 25, 2014 | 31-May-11 |
Northsight Capital Inc details | ' | ' |
Safe Communications, Inc acquired company issued and outstanding common stock | ' | 80.00% |
Company completed the acquisition of approximately cannabis related Internet domain names | 7,500 | ' |
Cannabis related Internet domain names, in exchange for which the Company issued shares of common stock | $78,500,000 | ' |
Company issued a promissory note in the principal amount | $500,000 | ' |
The seller of the domain names became an stockholder of the Company | 81.00% | ' |
LIQUIDITYGOING_CONCERN_Details
LIQUIDITY/GOING CONCERN (Details) (USD $) | 21-May-08 |
Going concern details | ' |
The Company is a development stage enterprise and has accumulated losses | $1,937,799 |
Company had negative cash flows from operating activities | $704,228 |
WEB_DEVELOPMENT_COSTS_Details
WEB DEVELOPMENT COSTS (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
WEB DEVELOPMENT COSTS Details | ' |
Company capitalized towards the development of a website | $105,000 |
The Company also capitalized towards the purchase of rights for internet domain names | 180,544 |
The Company recorded website development expenses | $79,480 |
PROPERTY_AND_EQUIPMENT_Details
PROPERTY AND EQUIPMENT (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Furniture and equipment details | ' | ' |
Furniture and equipment | $4,215 | ' |
Total furniture and equipment net | 4,215 | ' |
Less: Accumulated depreciation | -210 | ' |
Net total of Furniture and euqipment | $4,005 | ' |
Estimated useful life in years | 3 | 3 |
Depreciation_Details
Depreciation (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Depreciation Details | ' |
Depreciation Expenses | $210 |
NOTES_PAYABLE_RELATED_PARTY_De
NOTES PAYABLE RELATED PARTY (Details) (USD $) | Jun. 23, 2014 |
Notes payable related Party details | ' |
Company issued a promissory note | $500,000 |
The note bears interest at the rate per annum | 3.25% |
Company's receipt of an aggregate in funding | 100,000 |
Company paid to the note holder | 100,000 |
Remaining debt is payable in thirty six equal monthly installment | 400,000 |
Company realizes at least in gross revenue | 150,000 |
Contingency amount of the company | $400,000 |
Interest_expense_Details
Interest expense (Details) (USD $) | 3 Months Ended |
Jun. 30, 2014 | |
Interest expense details | ' |
Interest expense on notes payable | $2,671 |
EQUITY_Details
EQUITY (Details) (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Mar. 31, 2014 | |
Share Details | ' | ' |
Company sold shares of common stock | 400,000 | 2,426,000 |
Cash proceeds of common stock | $100,000 | $592,750 |
Company incurred finders fee | $5,500 | $24,450 |
Company has satisfied through the issuance of shares common stock | 22,000 | 97,800 |
Cancellation_and_Other_share_D
Cancellation and Other share (Details) (USD $) | Apr. 14, 2014 | Apr. 09, 2014 |
Cancellation and Other share Details | ' | ' |
Shareholders of the Company surrendered to the Company for cancellation of shares | ' | 1,675,604 |
Company issued an aggregate of restricted shares of its common stock to the shareholders of NCAP Security Systems | 3,730,000 | ' |
The Company recorded settlement expense | $932,500 | ' |
Company received from the exercise of outstanding warrants to purchase shares | $90,000 | ' |
Outstanding Warrants used to purchase number of shares | 450,000 | ' |
Exercise price per share | $0.20 | ' |
WARRANTS_Details
WARRANTS (Details) (USD $) | Jun. 30, 2014 |
Warrants details | ' |
Number of warrants outstanding | 775,000 |
Common stock price per share | $0.20 |
Outstanding_stock_warrants_Det
Outstanding stock warrants (Details) | Warrants | Weighted Average Exercise price | Weighted Remaining Contractual life |
Outstanding Balance at Dec. 31, 2013 | 1,225,000 | 0.2 | 0.75 |
Granted | 0 | ' | ' |
Expired /Cancelled | 0 | ' | ' |
Exercised | -450,000 | 0.2 | 0 |
Outstanding Balance at Jun. 30, 2014 | 775,000 | 0.2 | 0.25 |
Exercisable at Jun. 30, 2014 | 775,000 | 0.2 | 0.25 |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | Jun. 23, 2014 |
Related party transaction details | ' |
Issued to the Seller on the closing date million shares | 78.5 |
Issued to the Seller a promissory note in the principal amount | $500,000 |
The note bears interest | 3.25% |
Company's receipt of an aggregate | 1,000,000 |
Debt Equity paid amount | 100,000 |
Company shall pay the remaining balance amount | 400,000 |
Company realizes amount | 150,000 |
Company is required to pay the Seller per months, | 9,500 |
The monthly rent for this facility | $3,500 |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | Jun. 23, 2014 | 31-May-11 |
COMMITMENTS AND CONTINGENCIES Details | ' | ' |
Co agree to pay seller as per agreement | ' | $9,500 |
Gross monthly revenue | ' | 150,000 |
Company gross revenues are in excess | ' | 150,000 |
Promissory note issued by the company | 500,000 | ' |
Promissory note interest | 3.25% | ' |
Company in receipt of amount | 1,000,000 | ' |
Euqity fund amount | 100,000 | ' |
Least gross revenue | 150,000 | ' |
In 36 months payable amount | 400,000 | ' |
Contigency amount of company | $400,000 | ' |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | Aug. 15, 2014 | Aug. 13, 2014 | Jul. 25, 2014 | Jul. 21, 2014 | Jun. 30, 2014 |
SUBSEQUENT EVENTS Details | ' | ' | ' | ' | ' |
Company amended and restated its promissory note in the principal amount | ' | ' | $500,000 | ' | ' |
First installment payment | ' | ' | 100,000 | ' | ' |
Kae Yong Park has waived the requirement that the Company pay the due | ' | ' | 100,000 | ' | ' |
Company sold an additional shares | ' | ' | ' | ' | 1,928,000 |
Additional share per share amounted | ' | ' | ' | ' | $0.25 |
Increase the number of its authorized shares from 100,000,000 to | ' | ' | ' | 200,000,000 | ' |
John Bluher became CEO of the Company. His agreement with the Company calls for a base salary | ' | 25,000 | ' | ' | ' |
Non accountable monthly expense | ' | 2,500 | ' | ' | ' |
Issued shares upon becoming CEO | ' | 400,000 | ' | ' | ' |
Issunance additional shares in three installments | ' | 750,000 | ' | ' | ' |
Each installment of shares | ' | 250,000 | ' | ' | ' |
Company acquired shares of common stock | 200,000 | ' | ' | ' | ' |
Common stock original price | $50,000 | ' | ' | ' | ' |
Originally purchased shares | 400,000 | ' | ' | ' | ' |