IRONCLAD ENCRYPTION (IRNC) 10-Q 19 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	18-May-15
Entity Registrant Name	BUTTE HIGHLANDS MINING COMPANY, INC.
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Entity Central Index Key	1455926
Current Fiscal Year End Date	-19
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	2015
Document Fiscal Period Focus	Q1
Entity Incorporation, Date of Incorporation	18-May-29
Entity Incorporation, State Country Name	Delaware
Common Class A
Entity Common Stock, Shares Outstanding		1,327,698
Common Class B
Entity Common Stock, Shares Outstanding		1,654,191

BUTTE_HIGHLANDS_MINING_COMPANY

BUTTE HIGHLANDS MINING COMPANY BALANCE SHEETS (interim period unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$130,045	$131,353
Prepaid expense	153
Total Current Assets	130,198	131,353
TOTAL ASSETS	130,198	131,353
CURRENT LIABILITIES
Accounts payable	0	0
Total Current Liabilities	0	0
COMMITMENTS AND CONTINGENCIES	0	0
STOCKHOLDERS' EQUITY
Common stock, Class A, $0.001 par value 500,000,000 shares authorized; 1,327,698 shares issued and outstanding	1,328	1,328
Common stock, Class B, $0.001 par value 1,707,093 shares authorized; 1,654,191shares issued and outstanding	1,654	1,654
Additional paid-in capital	269,469	269,469
Accumulated deficit	-142,253	-141,098
Total Stockholders' Equity	130,198	131,353
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$130,198	$131,353

Statement_of_Financial_Positio

Statement of Financial Position - Parenthetical (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of financial position
Preferred Stock, Par Value	$0.00	$0.00
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Class A, Par Value	$0.00	$0.00
Common Stock, Class A, Shares Authorized	500,000,000	500,000,000
Common Stock, Class A, Shares Issued	1,327,698	1,327,698
Common Stock, Class A, Shares Outstanding	1,327,698	1,327,698
Common Stock, Class B, Par Value	$0.01	$0.01
Common Stock, Class B, Shares Authorized	1,707,093	1,707,093
Common Stock, Class B, Shares Issued	1,654,191	1,654,191
Common Stock, Class B, Shares Outstanding	1,654,191	1,654,191

BUTTE_HIGHLANDS_MINING_COMPANY1

BUTTE HIGHLANDS MINING COMPANY STATEMENTS OF OPERATIONS (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income statement
REVENUES	$0	$0
OPERATING EXPENSES
Professional fees	445	12,195
General and administrative	701	372
TOTAL OPERATING EXPENSES	1,146	12,567
LOSS FROM OPERATIONS	-1,146	-12,567
OTHER INCOME (EXPENSES)
Interest income	1	2
Interest expense	-10
TOTAL OTHER INCOME (EXPENSES)	-9	2
LOSS BEFORE TAXES	-1,155	-12,565
INCOME TAXES	0	0
NET LOSS	($1,155)	($12,565)
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	$0	$0
WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED	2,981,889	2,981,889

BUTTE_HIGHLANDS_MINING_COMPANY2

BUTTE HIGHLANDS MINING COMPANY STATEMENTS OF CASH FLOWS (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($1,155)	($12,565)
Changes in assets and liabilities:
Decrease (increase) in prepaid expense	-153
Increase (decrease) in accounts payable		11,800
Net cash used by operating activities	-1,308	-765
CASH FLOWS FROM INVESTING ACTIVITIES:	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:	0	0
INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS	-1,308	-765
Cash, beginning of period	131,353	171,951
Cash, end of period	130,045	171,186
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	$0	$0

Note_1_Organization_and_Descri

Note 1 - Organization and Description of Business	3 Months Ended
	Mar. 31, 2015
Notes
Note 1 - Organization and Description of Business	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
	Butte Highlands Mining Company (hereinafter “Butte” or “the Company”) was incorporated on May 18, 1929 under the laws of the State of Delaware for the purpose of exploring and mining the Butte Highland’s (Only Chance) Mine, south of Butte, Montana.  The Company was reorganized in October 1996 for the purpose of acquiring and developing mineral properties.  As of the date of reorganization, stockholders representing approximately 76% of the outstanding capital stock could not be located.  In order to obtain the quorum necessary for the special meetings, the Company obtained an order from the Superior Court of Spokane County, Washington appointing a trustee for the benefit of those stockholders which could not be located.
	As of May 17, 2007 the Company had disposed of all of its historical mineral properties or claims, and has reentered the development stage.  The Board of Directors intends to seek out an appropriate business opportunity and has not limited its search to any particular industry. Management believes it can identify opportunities in several sectors and will proceed with the appropriate diligence to create value for the shareholders. Operations are primarily conducted from the Company headquarters in Spokane, Washington.
	The Company had entered into negotiations with a possible a acquirer. The deal is no longer going through due to a lack of financing.
	The foregoing unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, these financial statements do not include all of the disclosures required by generally accepted accounting principles in the United States of America for complete financial statements.  These unaudited interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2014.  In the opinion of management, the unaudited interim financial statements furnished herein includes all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented.  Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.

Note_2_Summary_of_Significant_

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Notes
Note 2 - Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	This summary of significant accounting policies of Butte Highlands Mining Company is presented to assist in understanding the Company’s financial statements.  The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity.  These accounting policies conform to accounting principles generally accepted in the United States and have been consistently applied in the preparation of the financial statements.
	Fair Value of Financial Instruments
	The Company's financial instruments as defined by ASC 825-10-50, include cash, receivables, accounts payable and accrued expenses.  All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2015.
	The standards under ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements.  FASB ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:
	Level 1.  Observable inputs such as quoted prices in active markets;
	Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
	Level 3.  Unobservable inputs in which there is little of no market data, which require the reporting entity to develop its own assumptions.
	The Company did not have any assets measured at fair value at March 31, 2015.
	Provision for Taxes
	Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition.  Under the approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end.  A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by ASC 740-10-25-5 to allow recognition of such an asset. See Note 4.

Note_3_Related_Party_Transacti

Note 3 - Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Notes
Note 3 - Related Party Transactions	NOTE 3 – RELATED PARTY TRANSACTIONS
	The Company utilized office facilities provided by its president.  The value of the office facilities provided by the Company’s president is nominal and immaterial to the financial statements.

Note_4_Income_Taxes

Note 4 - Income Taxes	3 Months Ended
	Mar. 31, 2015
Notes
Note 4 - Income Taxes	NOTE 4 – INCOME TAXES
	Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition.  Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end.  A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by ASC 740-10-25-5.
	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for income tax purposes.
	Significant components of the deferred tax assets at an anticipated tax rate of 35% for the periods ended March 31, 2015 and December 31, 2014 are as follows:
		31-Mar	December 31,
		2015	2014
	Net operating loss carryforwards	144,200	143,000
	Deferred tax asset	50,550	50,050
	Valuation allowance for deferred asset	-50,550	-50,050
	Net deferred tax asset	0	0
	At March 31, 2015, the Company has net operating loss carryforwards of approximately $144,200 which will begin to expire in the year 2031. The change in the allowance account from December 31, 2014 to March 31, 2015 was $500.
	The Company has not identified any aggressive tax positions. We are subject to taxation in the US. Further, the Company has no open tax years subject to audit prior to December 31, 2011. The Company is current on its federal tax returns.

Note_5_Subsequent_Events

Note 5 - Subsequent Events	3 Months Ended
	Mar. 31, 2015
Notes
Note 5 - Subsequent Events	NOTE 5 – SUBSEQUENT EVENTS
	For the period ended March 31, 2015, there were no recognizable subsequent events. Subsequent events have been evaluated through the date the financial statements were issued.

Note_2_Summary_of_Significant_1

Note 2 - Summary of Significant Accounting Policies: Fair Value of Financial Instruments, Policy (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Fair Value of Financial Instruments, Policy	Fair Value of Financial Instruments
	The Company's financial instruments as defined by ASC 825-10-50, include cash, receivables, accounts payable and accrued expenses.  All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at March 31, 2015.
	The standards under ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements.  FASB ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:
	Level 1.  Observable inputs such as quoted prices in active markets;
	Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
	Level 3.  Unobservable inputs in which there is little of no market data, which require the reporting entity to develop its own assumptions.
	The Company did not have any assets measured at fair value at March 31, 2015.

Note_2_Summary_of_Significant_2

Note 2 - Summary of Significant Accounting Policies: Provision For Taxes (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Provision For Taxes	Provision for Taxes
	Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition.  Under the approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end.  A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by ASC 740-10-25-5 to allow recognition of such an asset. See Note 4.

Note_4_Income_Taxes_Schedule_o

Note 4 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2015
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities
		31-Mar	December 31,
		2015	2014
	Net operating loss carryforwards	144,200	143,000
	Deferred tax asset	50,550	50,050
	Valuation allowance for deferred asset	-50,550	-50,050
	Net deferred tax asset	0	0

Note_1_Organization_and_Descri1

Note 1 - Organization and Description of Business (Details)	3 Months Ended
	Mar. 31, 2015
Details
Entity Incorporation, Date of Incorporation	18-May-29
Entity Incorporation, State Country Name	Delaware
Nature of Operations	As of May 17, 2007 the Company had disposed of all of its historical mineral properties or claims, and has reentered the development stage. The Board of Directors intends to seek out an appropriate business opportunity and has not limited its search to any particular industry. Management believes it can identify opportunities in several sectors and will proceed with the appropriate diligence to create value for the shareholders. Operations are primarily conducted from the Company headquarters in Spokane, Washington.
Basis of Accounting	The foregoing unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, these financial statements do not include all of the disclosures required by generally accepted accounting principles in the United States of America for complete financial statements. These unaudited interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2014. In the opinion of management, the unaudited interim financial statements furnished herein includes all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.

Note_4_Income_Taxes_Schedule_o1

Note 4 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Details
Deferred Tax Assets, Operating Loss Carryforwards	$144,200	$143,000
Deferred Tax Assets, Gross	50,550	50,050
Deferred Tax Assets, Valuation Allowance	-50,550	-50,050
Deferred Tax Assets, Net of Valuation Allowance	$0	$0

Note_4_Income_Taxes_Details

Note 4 - Income Taxes (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Details
Operating Loss Carryforwards	$144,200
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$500