IRONCLAD ENCRYPTION (IRNC) 10-K 30 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 24, 2016	Jun. 30, 2015
Entity Registrant Name	Butte Highlands Mining Company, Inc.
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Entity Central Index Key	1,455,926
Current Fiscal Year End Date	--12-31
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	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 218,347
Trading Symbol	bthi
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 (Audited) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 102,819	$ 131,353
Prepaid expense	173
Total Current Assets	102,992	131,353
TOTAL ASSETS	102,992	131,353
CURRENT LIABILITIES
Accounts payable	4,389
Total Current Liabilities	4,389
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; 1,654,191 shares issued and outstanding	1,654	1,654
Additional paid-in capital	269,469	269,469
Accumulated deficit	(173,848)	(141,098)
Total Stockholders' Equity	98,603	131,353
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 102,992	$ 131,353

Statement of Financial Position

Statement of Financial Position - Parenthetical - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of financial position
Preferred Stock, Par Value	$ 0.001	$ 0.001
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	$ 0.001	$ 0.001
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 COMPANY4

BUTTE HIGHLANDS MINING COMPANY STATEMENTS OF OPERATIONS (Audited) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income statement
REVENUES	$ 0	$ 0
OPERATING EXPENSES
Professional fees	27,045	28,655
Depreciation	0	0
Officers and directors fees	0	0
General and administrative	5,696	11,353
TOTAL OPERATING EXPENSES	32,741	40,008
LOSS FROM OPERATIONS	(32,741)	(40,008)
OTHER INCOME (EXPENSES)
Interest income	1	8
Interest expense	(10)	0
Other income	0	0
Other expense	0	0
Other than temporary impairment of investment	0	0
Gain on sale of investment	0	0
TOTAL OTHER INCOME (EXPENSES)	(9)	8
LOSS BEFORE TAXES	(32,750)	(40,000)
INCOME TAXES
Income tax benefit	0	0
Tax expense	0	0
NET LOSS	$ (32,750)	$ (40,000)
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	$ (0.01)	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED	2,981,889	2,981,889

BUTTE HIGHLANDS MINING COMPANY5

BUTTE HIGHLANDS MINING COMPANY STATEMENT OF STOCKHOLDERS' EQUITY(Audited) - USD ($)	Common Stock Class A Shares	Common Stock Class A Amount	Common Stock Class B Shares	Common Stock Class B Amount	Additional Paid-in Capital	Accumulated Deficit	Total
Stockholders' Equity at Dec. 31, 2013		$ 1,328		$ 1,654	$ 269,469	$ (101,098)	$ 171,353
Shares issued at Dec. 31, 2013	1,327,698		1,654,191
Net income (loss)						(40,000)	(40,000)
Stockholders' Equity at Dec. 31, 2014		1,328		1,654	269,469	(141,098)	131,353
Shares issued at Dec. 31, 2014	1,327,698		1,654,191
Net income (loss)						(32,750)	(32,750)
Stockholders' Equity at Dec. 31, 2015		$ 1,328		$ 1,654	$ 269,469	$ (173,848)	$ 98,603
Shares issued at Dec. 31, 2015	1,327,698		1,654,191

BUTTE HIGHLANDS MINING COMPANY6

BUTTE HIGHLANDS MINING COMPANY STATEMENTS OF CASH FLOWS (Audited) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (32,750)	$ (40,000)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation	0	0
Gain on sale of investments	0	0
Other than temporary impairment of investment	0	0
Changes in assets and liabilities:
Decrease (increase) in prepaid expense	(173)	327
Increase (decrease) in accounts payable	4,389	(925)
Increase (decrease) in income tax payable	0	0
Net cash used by operating activities	(28,534)	(40,598)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid for equipment purchased	0	0
Cash received for mining claims	0	0
Cash received for sale of investment	0	0
Net cash provided by investing activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from sale of common stock	0	0
Net cash provided by financing activities	0	0
INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS	(28,534)	(40,598)
Cash, beginning of period	131,353	171,951
Cash, end of period	102,819	131,353
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	12 Months Ended
	Dec. 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 in May 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 acquirer. The deal is no longer going through due to a lack of financing.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 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. Accounting Method The Company’s financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Earnings (Losses) Per Share Basic net income/loss per share was computed by dividing the net income/loss by the weighted average number of shares outstanding during the year. The weighted average number of shares was calculated by taking the number of shares outstanding and weighting them by the amount of time they were outstanding. The Company presents EPS on a combined basis because Class B common stock has all of the rights and privileges of Class A common stock, except for voting rights. See Note 1 and 3. Additionally, if the two class method were used the EPS would be identical. Cash Equivalents The Company considers cash, certificates of deposit, and debt instruments with a maturity of three months or less when purchased to be cash equivalents. Estimates The preparation of financial statements in accordance with generally accepted accounting principles in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions and could have a material effect on the reported amounts of the Company’s financial position and results of operations. 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 December 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 December 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 ASC 740-10-25-5 New Accounting Pronouncements On June 10, 2014 the FASB issued authoritative guidance which eliminates the concept of a development stage entity. The incremental reporting requirements for presenting the development stage operations and cash flows since inception will no longer apply to development stage entities. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 are to be applied retrospectively and are effective for fiscal years beginning after December 15, 2014. The pronounce encourages the early adoption of the standard in cases where reports were still to be issued. The Company evaluated the effect of this standard on its financial reporting and adopted the transitional changes in the quarter ended December 31, 2014.

Note 3 - Common Stock

Note 3 - Common Stock	12 Months Ended
	Dec. 31, 2015
Notes
Note 3 - Common Stock	NOTE 3 – COMMON STOCK Upon formation in 1929, the Company issued 1,500,000 shares of its common stock in exchange for mineral claims. During 1937, the Company’s total authorized common stock was increased to 2,500,000 under a reorganization plan. During 1996, due to a long period of inactivity, stockholders representing approximately 76% of the outstanding common stock of the Company could not be located. The Company obtained an order from the Superior Court of Spokane County, Washington appointing a “trustee for the benefit of those stockholders who cannot be located”. After obtaining this order, the Company adopted a plan of reorganization. Under this plan of reorganization, the Company increased authorized common stock to 25,000,000 shares of which 23,292,907 were designated as Class A voting common stock and 1,707,093 were designated as Class B nonvoting common stock. All of the Company’s locatable stockholders received share-for-share Class A voting common stock. All of the Company’s unlocated stockholders received share-for-share Class B nonvoting common stock, which is held in trust for missing shareholders pending knowledge of their location. If a previously unlocated recorded owner or beneficiary of a record owner is subsequently located, they must present satisfactory evidence and presentation of a share certificate or an “Affidavit of Loss” with an agreement to indemnify the Company for any future damage as a result of the certificate having been sold or transferred but not lost. Upon satisfaction of these requirements, Class A voting common stock will be issued share-for-share in exchange for the Class B nonvoting common stock. The relevant shares of Class B nonvoting common stock will then be cancelled. During the year ended December 31, 2007, the Company issued 500,000 shares of Class A common stock to two directors for $35,000 in cash, according to the Company’s stock option plan. During the years ended December 31, 2008 through December 31, 2011, the Company did not issue any shares of common stock. During the year ended December 31, 2012,

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Notes
Note 4 - Related Party Transactions	NOTE 4 – 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, additionally the value of the services provided by the Company’s president are nominal and immaterial to the financial statements.

Note 5 - Income Taxes

Note 5 - Income Taxes	12 Months Ended
	Dec. 31, 2015
Notes
Note 5 - Income Taxes	NOTE 5 – INCOME TAXES Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Topic 740 in the Accounting Standards Codification (ASC 740) prescribes recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At December 31, 2015, the Company had taken no tax positions that would require disclosure under ASC 740. The Company files income tax returns in the U.S. federal jurisdiction. The federal jurisdiction has a statute of limitations of three years. Federal income tax returns prior to year ending December 31, 2011 are closed. 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 December 31, 2015 and December 31, 2014 are as follows: December 31, 2015 December 31, 2014 Net operating loss carryforwards 175,750 143,000 Deferred tax asset 61,500 50,050 Valuation allowance for deferred asset (61,500) (50,050) Net deferred tax asset - - At December 31, 2015, the Company has net operating loss carryforwards of approximately $175,750 which will begin to expire in the year 2032. The change in the allowance account from December 31, 2014 to December 31, 2015 was $11,450.

Note 6 - Subsequent Events

Note 6 - Subsequent Events	12 Months Ended
	Dec. 31, 2015
Notes
Note 6 - Subsequent Events	NOTE 6 – SUBSEQUENT EVENTS For the period ended December 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 Significa13

Note 2 - Summary of Significant Accounting Policies: Accounting Method (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Accounting Method	Accounting Method The Company’s financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.

Note 2 - Summary of Significa14

Note 2 - Summary of Significant Accounting Policies: Earnings (losses) Per Share (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Earnings (losses) Per Share	Earnings (Losses) Per Share Basic net income/loss per share was computed by dividing the net income/loss by the weighted average number of shares outstanding during the year. The weighted average number of shares was calculated by taking the number of shares outstanding and weighting them by the amount of time they were outstanding. The Company presents EPS on a combined basis because Class B common stock has all of the rights and privileges of Class A common stock, except for voting rights. See Note 1 and 3. Additionally, if the two class method were used the EPS would be identical.

Note 2 - Summary of Significa15

Note 2 - Summary of Significant Accounting Policies: Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Cash Equivalents	Cash Equivalents The Company considers cash, certificates of deposit, and debt instruments with a maturity of three months or less when purchased to be cash equivalents.

Note 2 - Summary of Significa16

Note 2 - Summary of Significant Accounting Policies: Estimates (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Estimates	Estimates The preparation of financial statements in accordance with generally accepted accounting principles in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions and could have a material effect on the reported amounts of the Company’s financial position and results of operations.

Note 2 - Summary of Significa17

Note 2 - Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Fair Value of Financial Instruments	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 December 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 December 31, 2015.

Note 2 - Summary of Significa18

Note 2 - Summary of Significant Accounting Policies: Provision For Taxes (Policies)	12 Months Ended
	Dec. 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 ASC 740-10-25-5

Note 2 - Summary of Significa19

Note 2 - Summary of Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
New Accounting Pronouncements, Policy	New Accounting Pronouncements On June 10, 2014 the FASB issued authoritative guidance which eliminates the concept of a development stage entity. The incremental reporting requirements for presenting the development stage operations and cash flows since inception will no longer apply to development stage entities. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 are to be applied retrospectively and are effective for fiscal years beginning after December 15, 2014. The pronounce encourages the early adoption of the standard in cases where reports were still to be issued. The Company evaluated the effect of this standard on its financial reporting and adopted the transitional changes in the quarter ended December 31, 2014.

Note 5 - Income Taxes_ Schedule

Note 5 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	December 31, 2015 December 31, 2014 Net operating loss carryforwards 175,750 143,000 Deferred tax asset 61,500 50,050 Valuation allowance for deferred asset (61,500) (50,050) Net deferred tax asset - -

Note 1 - Organization and Des21

Note 1 - Organization and Description of Business (Details)	12 Months Ended
	Dec. 31, 2015
Details
Entity Incorporation, State Country Name	Delaware

Note 3 - Common Stock (Details)

Note 3 - Common Stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2007	Dec. 31, 2015	Dec. 31, 2014
Details
Stock Issued During Period, Shares, Other	500,000
Stock Issued During Period, Value, Other	$ 35,000
Authorized capital		521,707,093
Common Stock, Class A, Par Value		$ 0.001	$ 0.001
Common Stock, Class A, Shares Authorized		500,000,000	500,000,000
Common Stock, Class B, Shares Authorized		1,707,093	1,707,093
Preferred Stock, Shares Authorized		20,000,000	20,000,000

Note 4 - Related Party Transa23

Note 4 - Related Party Transactions (Details)	12 Months Ended
	Dec. 31, 2015
Details
Related Party Transaction, Description of Transaction	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, additionally the value of the services provided by the Company’s president are nominal and immaterial to the financial statements.

Note 5 - Income Taxes (Details)

Note 5 - Income Taxes (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Details
Effective Income Tax Rate Reconciliation, Percent	35.00%
Operating Loss Carryforwards	$ 175,750
Valuation Allowances and Reserves, Period Increase (Decrease)	$ 11,450

Note 5 - Income Taxes_ Schedu25

Note 5 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Deferred Tax Assets, Operating Loss Carryforwards	$ 175,750	$ 143,000
Deferred Tax Assets, Gross	61,500	50,050
Deferred Tax Assets, Valuation Allowance	$ (61,500)	$ (50,050)