Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Oct. 22, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'STRAGENICS, INC. | ' |
Entity Central Index Key | '0001456993 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 89,005,250 |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Current Assets | ' | ' |
Cash and equivalents | $2,004 | $0 |
Total Current Assets | 2,004 | 0 |
TOTAL ASSETS | 2,004 | 0 |
Current Liabilities | ' | ' |
Bank overdraft | 0 | 409 |
Accounts payable and accrued expenses | 129,080 | 134,616 |
Accrued interest | 246,756 | 220,603 |
Convertible notes payable, net of discount of $4,917 (2013 - $1,016) | 1,441,764 | 1,430,665 |
Derivative liability | 282,793 | 735,979 |
Due to related parties | 431,061 | 431,061 |
Line of credit - related party | 50,300 | 50,300 |
Loans payable, net of discount of $0 (2013 - $286) | 62,255 | 56,969 |
Advances from shareholder | 20 | 0 |
Total Liabilities | 2,644,029 | 3,060,602 |
Stockholders' Deficit | ' | ' |
Preferred Stock Authorized: 100,000,000 preferred shares. No shares issued and outstanding at June 30, 2014 and 2012 | 0 | 0 |
Common Stock, 400,000,000 shares of common stock with par value of $.0001; 89,005,250 shares of common stock issued and outstanding at June 30, 2014 and December 31, 2013 | 8,901 | 8,901 |
Additional paid in capital | 114,643 | 114,643 |
Accumulated other comprehensive loss | 835 | 835 |
Accumulated deficit | -2,766,404 | -3,184,981 |
Total Stockholders' Deficit | 2,766,404 | -3,184,981 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $2,004 | $0 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Balance Sheets [Abstract] | ' | ' |
Net of discount, convertible notes payable | $4,917 | $1,016 |
Net of discount, loans payable | $0 | $286 |
Preferred Stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred Stock, shares issued | ' | ' |
Preferred Stock, shares outstanding | ' | ' |
Common Stock, shares authorized | 400,000,000 | 400,000,000 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares issued | 89,005,250 | 89,005,250 |
Common Stock, shares outstanding | 89,005,250 | 89,005,250 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Statements of Operations and Other Comprehensive Loss [Abstract] | ' | ' | ' | ' |
REVENUES | $0 | $0 | $0 | $16,289 |
EXPENSES | ' | ' | ' | ' |
Professional fees | 1,500 | 1,550 | 5,510 | 5,797 |
Consulting fees | 0 | 0 | 0 | 50,000 |
Salaries and benefits | 0 | 0 | 0 | 8,184 |
Office expense | 2,921 | 0 | 4,100 | 1,640 |
Filing and registration | 1,139 | 0 | 2,460 | 0 |
General and administrative | 0 | 1,642 | 0 | 9,451 |
TOTAL EXPENSES | 5,560 | 3,192 | 12,070 | 75,072 |
LOSS FROM OPERATIONS | -5,560 | -3,192 | -12,070 | -58,783 |
OTHER INCOME (EXPENSES) | ' | ' | ' | ' |
Interest expense | -13,077 | -723 | -26,154 | -6,357 |
Change in fair market value of derivative liability | 730,333 | 0 | 463,020 | 0 |
Amortization of debt discount | -4,917 | 0 | -6,219 | 0 |
TOTAL OTHER INCOME (EXPENSE) | 712,339 | -723 | 430,647 | 0 |
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES | 706,779 | -3,915 | 418,577 | -65,140 |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET INCOME (LOSS) | 706,779 | -3,915 | 418,577 | -65,140 |
OTHER COMPREHENSIVE INCOME (LOSS) | ' | ' | ' | ' |
Foreign currency translation adjustments | 0 | 0 | 0 | 0 |
TOTAL COMPREHENSIVE INCOME (LOSS) | $706,779 | ($3,915) | $418,577 | ($65,140) |
NET INCOME (LOSS) PER SHARE: BASIC AND DILUTED | $0.01 | $0 | $0 | $0 |
TOTAL COMPREHENSIVE INCOME (LOSS) PER SHARE: BASIC AND DILUTED | $0.01 | $0 | $0 | $0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 89,005,250 | 88,462,547 | 89,005,250 | 49,134,468 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited)(USD ($)) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net loss for the period | $418,577 | ($65,140) |
Adjustments to reconciled net loss to net cash provided by operating activities: | ' | ' |
Change in fair market value of derivative liability | -463,020 | 0 |
Amortization of debt discount | 6,219 | 0 |
Changes in assets and liabilities: | ' | ' |
Increase in accounts payable and accrued expenses | -5,536 | 8,342 |
Increase in accrued interest | 26,153 | 0 |
Net Cash Used in Operating Activities | -17,607 | -56,798 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Bank overdraft | -409 | 360 |
Proceeds from promissory notes | 5,000 | 2,500 |
Proceeds from convertible notes payable | 15,000 | 54,000 |
Proceeds from issuance of common stock | 0 | 0 |
Advances from shareholder | 20 | 0 |
Net Cash Provided by Financing Activities | 19,611 | 56,860 |
Exchange rate effect on cash | 0 | -78 |
NET INCREASE (DECREASE) IN CASH | 2,004 | -16 |
Cash and equivalents, beginning of period | 0 | ' |
Cash and equivalents, end of period | 2,004 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' |
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' |
Net liabilities acquired on merger/recapitalization | 0 | 2,583,387 |
Common stock issued for debt and interest | $0 | $123,465 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Business | |
Stragenics, Inc., formerly known as Mobieyes Software, Inc. (the “Company” or “Stragenics”) was incorporated under the laws of the State of Florida on January 15, 2009. On February 23, 2010, the Company changed its name to Resource Exchange of America Corp. Effective April 30, 2013, the Company changed its name to Allerayde SAB, Inc. Effective April 28, 2014, the Company changed its name to Stragenics, Inc. The Company’s prior business was a mobile enterprise software company aimed at improving productivity of field service organizations. Upon completion of the acquisition of assets from UTP Holdings, LLC on February 22, 2010, the Company adopted the business of UTP Holdings, LLC. The Company was engaged in the business of recycling ferrous and nonferrous metals to customers in the United States and abroad. | |
On March 21, 2013, the Company entered into a Share Exchange Agreement with Allerayde SAB Limited. (“Allerayde”) and Mike Rhodes, the sole member of Allerayde (the “Allerayde Stockholder”) (the “Share Exchange Agreement”). This share exchange transaction constituted a reverse merger and a recapitalization of Stragenics (formerly Allerayde). In conjunction with this reverse merger, the historical accounts of Stragenics become the historical accounts of Resource Exchange of America Corp for accounting purposes. | |
Accounting Basis | |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a December 31 fiscal year end. | |
Cash and Cash Equivalents | |
Stragenics considers all highly liquid investments with maturities of three months or less to be cash equivalents. At June 30, 2014 and December 31, 2013, respectively, the Company had $2,004 and $0 of cash and a bank overdraft of $409. | |
Fair Value of Financial Instruments | |
The Company’s financial instruments consist of cash and cash equivalents, accounts payable and accrued expenses, convertible notes payable, derivative liability, amounts due to related parties and loans payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. | |
Income Taxes | |
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Revenue Recognition | |
The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |
Foreign Currency | |
The operations of the Company were located in England and Wales. Stragenics maintained a Great Britain Pounds bank account. The functional currency is the U.S. Dollar. Transactions in foreign currencies other than the functional currency, if any, are re-measured into the functional currency at the rate in effect at the time of the transaction. Monetary assets and liabilities denominated in Great Britain Pounds are translated into U.S. Dollars at the rate in effect at the balance sheet date. Revenue and expenses denominated in Great Britain Pounds Dollars are translated at the average exchange rate. | |
Basic Income (Loss) Per Share | |
Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of June 30, 2014. | |
Stock-Based Compensation | |
Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. | |
Recent Accounting Pronouncements | |
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. | |
Stragenics does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow other than the pronouncement described above. |
Going_Concern
Going Concern | 6 Months Ended |
Jun. 30, 2014 | |
Going Concern [Abstract] | ' |
GOING CONCERN | ' |
NOTE 2 – GOING CONCERN | |
The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception, has an accumulated deficit of $2,766,404 as of June 30, 2014, has negative working capital, and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and or private placement of common stock. |
Due_to_Related_Parties
Due to Related Parties | 6 Months Ended |
Jun. 30, 2014 | |
Due to Related Parties [Abstract] | ' |
DUE TO RELATED PARTIES | ' |
NOTE 3 – DUE TO RELATED PARTIES | |
The Company has amounts due to the former president of the Company and another company controlled by the former president totaling $431,061 as of June 30, 2014. The loans are unsecured, non-interest bearing and due on demand. | |
Effective March 18, 2010, the Company entered into a line of credit agreement with a company owned by the former President of the Company allowing for borrowings of up to $150,000 bearing interest at 8% per annum. The line of credit is unsecured and all borrowings plus interest are due on demand. The balance on the line of credit as of June 30, 2014 is $50,300. | |
During the three months ended March 31, 2014, the Company received advances from a shareholder of the company in the amount of $5,100. During the three months ended June 30, 2014, the Company repaid $5,080 of those advances. The advances are non- interest bearing and due on demand. The balance due to the shareholder was $20 as of June 30, 2014. |
Promissory_Notes
Promissory Notes | 6 Months Ended |
Jun. 30, 2014 | |
Promissory Notes and Convertible Notes Payable [Abstract] | ' |
PROMISSORY NOTES | ' |
NOTE 4 – PROMISSORY NOTES | |
On September 10, 2013 and September 24, 2013, the Company signed promissory notes with Capital Nordic Ltd. in the amounts of $3,000 and $5,000. The notes plus interest of $450 and $750 respectively were payable after 4 months. The notes are currently in default. | |
On August 1, 2013, the Company signed a promissory note with DeBondo Capital Limited in the amount of $18,700. The note had an original issue discount of $1,700 and was due on February 1, 2014. The discount was amortized over the life of the loan. The remaining unamortized discount was $nil as of June 30, 2014. The note is currently in default. | |
The Company has an amount due of $30,555 to an unrelated party as of June 30, 2014. The amount is unsecured, non-interest bearing and due on demand. | |
During the three months ended June 30, 2014, the Company received a loan from an unrelated party in the amount of $5,000. The loan has no specific terms of repayment, is unsecured and non-interest bearing. |
Convertible_Notes_Payable
Convertible Notes Payable | 6 Months Ended |
Jun. 30, 2014 | |
Promissory Notes and Convertible Notes Payable [Abstract] | ' |
CONVERTIBLE NOTES PAYABLE | ' |
NOTE 5 – CONVERTIBLE NOTES PAYABLE | |
(a) On February 22, 2010, the Company issued a $250,000 promissory note to the former President of the Company. The note bears interest at 10% per annum, is unsecured, and was due on December 31, 2010. The holder may convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 75% of the average of the closing market price of the Company’s common stock during the five trading days immediately preceding the conversion date. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversions feature of $175,081 with an equivalent discount on the convertible debt. The debt was fully accreted as of December 31, 2011. The carrying value of the convertible debt as of June 30, 2014 is $250,000. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $60,330 as of June 30, 2014. | |
(b) On April 13, 2010, the Company entered into a $250,000 draw down promissory note agreement with a non-related party. Amounts drawn on this credit facility bear interest at 8% per annum, are unsecured, and were due on April 13, 2011. The holder could convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 75% of the average of the closing market price of the Company’s common stock during the thirty trading days immediately preceding the conversion date. On October 14, 2010, the conversion price was changed to be fixed at $0.45 per share. | |
As of June 30, 2014, the outstanding balance is $250,000. The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $147,140 with an equivalent discount on the convertible debt. Upon modification of the conversion feature, the derivative liability was removed as the number of shares to be issued upon conversion became fixed. The carrying value of the convertible debt as of June 30, 2014 is $250,000. | |
(c) Effective January 31, 2005, the former President of the Company entered into a line of credit agreement with a financial institution allowing for borrowings of up to $800,000 with annual interest at prime to be used to fund the operations of the Company. The line of credit is secured by the principal residence of the former President of the Company. Monthly interest-only payments are required. On October 21, 2010, the Company agreed to add a conversion option to the entire balance of principal and interest outstanding at any time on the line of credit. The President of the Company may elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 75% of the average of the closing market price of the Company’s common stock during the five trading days immediately preceding the conversion date. The maturity date was December 31, 2011 and the note is now due on demand. | |
As of June 30, 2014, the outstanding balance is $788,472 (December 31, 2013 - $788,472). The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $190,274 with an equivalent discount on the convertible debt. The debt was fully accreted as of December 31, 2011. The carrying value of the convertible debt as of June 30, 2014 is $788,472. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $190,274 as of June 30, 2014. | |
On August 18, 2011 the company defaulted on the payments owed to the financial institution. As a result, UTP Holdings LLC was obligated to make the monthly bank payments on behalf of the company. UTP Holdings LLC notified the company of the default and the payments. | |
(d) On February 23, 2011, the Company issued an 8% convertible note for proceeds of $37,500 which matured on November 28, 2011. The holder could elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 61% of the average of the three lowest closing market prices during the ten day trading period immediately preceding the conversion date. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $37,500 with an equivalent discount on the convertible debt. The debt was fully accreted as of December 31, 2011. On April 5, 2013, the promissory note of $37,500 and $13,387 of accrued interest was converted into 5,088,700 shares of common stock. | |
(e) On March 24, 2011, the Company issued an 8% convertible note for proceeds of $27,500 which matured on December 28, 2011. The holder could elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 61% of the average of the three lowest closing market prices during the ten day trading period immediately preceding the conversion date. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $27,500 with an equivalent discount on the convertible debt. The debt was fully accreted as of December 31, 2011. On April 5, 2013, the promissory note of $27,500 and $9,320 of accrued interest was converted into 3,682,000 shares of common stock. | |
(f) On May 25, 2011 the Company issued an 8% convertible note for proceeds of $27,500 which matured on February 27, 2012. The holder could elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 61% of the average of the three lowest closing market prices during the ten day trading period immediately preceding the conversion date. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $27,500 with an equivalent discount on the convertible debt. The debt was fully accreted as of June 30, 2013. On April 5, 2013, the promissory note of $27,500 and $8,258 of accrued interest was converted into 3,575,800 shares of common stock. | |
(g) On August 31, 2012 the Company issued a 6% convertible note for proceeds of $20,000 which matured on August 30, 2013. The holder may elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to the market price of the stock as determined by taking the average trading price of the stock over the previous 30 days. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $1,407 with an equivalent discount on the convertible debt. The debt was fully accreted as of June 30, 2014. The carrying value of the convertible debt as of June 30, 2014 is $20,000. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $1,557 as of June 30, 2014. The note is currently in default. | |
(h) On November 16, 2012 the Company issued a 6% convertible note for proceeds of $66,709 which matured on November 16, 2013. The holder may elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to the market price of the stock as determined by taking the average trading price of the stock over the previous 30 days. The derivative liability related to this note is recalculated each reporting period. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $1,410 with an equivalent discount on the convertible debt. The debt was fully accreted as of June 30, 2014. The carrying value of the convertible debt as of June 30, 2014 is $66,709. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $5,121 as of June 30, 2014. The note is currently in default. | |
(i) The Company entered into a consultancy agreement with DeBondo Capital on January 7, 2013 to pay a sum of $50,000 to DeBondo for services to be provided during the first 4-5 months of 2013. DeBondo agreed to convert the fees due to a convertible loan in the amount of $50,000. The note matured on January 8, 2014 and bears interest at 5%. The holder of this note shall have the right, exercisable in whole or in part, to convert the outstanding principle and accrued interest hereunder into fully paid and non-assessable common shares of the Borrower's stock at fair market value. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $29,841 with an equivalent discount on the convertible debt. Amortization of the discount totaled $29,351 for the year ended December 31, 2013. The remaining $490 was amortized during the three months ended March 31, 2014. The carrying value of the convertible debt as of June 30, 2014 was $50,000. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $17,839 as of June 30, 2014. The note is currently in default. | |
(j) On February 4, 2013, the Company signed a promissory note with DeBondo Capital Limited in the amount of $4,000. The note matured on February 4, 2014 and bears interest at 5%. The holder of this note shall have the right, exercisable in whole or in part, to convert the outstanding principle and accrued interest hereunder into fully paid and non-assessable common shares of the Borrower's stock at fair market value. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $2,408 with an equivalent discount on the convertible debt. Amortization of the discount totaled $2,183 for the year ended December 31, 2013. The remaining $225 was amortized during the three months ended March 31, 2014. The carrying value of the convertible debt as of June 30, 2014 was $4,000. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $1,427 as of June 30, 2014. The note is currently in default. | |
(k) On March 12, 2013, the Company signed a promissory note with Laurag Associates S.A. in the amount of $2,500. The note matured March 13, 2014 and bears interest at 5%. The holder of this note shall have the right, exercisable in whole or in part, to convert the outstanding principle and accrued interest hereunder into fully paid and non-assessable common shares of the Borrower's stock at fair market value. | |
The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $1,568 with an equivalent discount on the convertible debt. Amortization of the discount totaled $1,267 for the year ended December 31, 2013. The remaining $301 was amortized during the three months ended March 31, 2014. The carrying value of the convertible debt as of June 30, 2014 was $2,500. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $892 as of June 30, 2014. The note is currently in default. | |
On March 31, 2014, the Company issued a convertible promissory note for $15,000. The note is due on October 1, 2014, is unsecured and bears interest at 8%. The note and any accrued interest may be converted into shares of the Company’s common stock at fair market value. The Company was required to classify the conversion feature contained within the convertible debt as a derivative liability. As such, the Company recorded a derivative liability related to the convertible debt equal to the estimated fair value of the conversion feature of $9,834 with an equivalent discount on the convertible debt. As of June 30, 2014, the unamortized debt discount was $4,917. The carrying value of the convertible debt as of June 30, 2014 was $10,083. The derivative liability related to this note is recalculated each reporting period. The derivative liability was $5,352 as of June 30, 2014. |
Common_Stock
Common Stock | 6 Months Ended |
Jun. 30, 2014 | |
Common Stock [Abstract] | ' |
COMMON STOCK | ' |
NOTE 6 – COMMON STOCK | |
The Company originally had an unlimited number of shares of no par value common stock. | |
On inception, the Company issued 10 shares of common stock at £1.00 per share to its founder for total cash proceeds of £10, which converted at its historical rate is $15. The Company closed a share exchange transaction effective March 23, 2013 with the shareholders of Resource Exchange of America Corp. This share exchange transaction constituted a reverse merger and a recapitalization of Allerayde. In conjunction with this reverse merger, the historical accounts of Allerayde become the historical accounts of Resource Exchange of America Corp for accounting purposes. The shareholders of Allerayde were issued 75,872,411 shares of Resource Exchange, representing 98.97% of the issued and outstanding shares of Resource Exchange. At the time of the reverse merger there were 786,328 shares of common stock outstanding. | |
On January 31, 2013, the Company amended its Articles of Incorporation to increase the total authorized shares of common stock, par value $.0001 per share from 250,000,000 shares to 400,000,000 shares and to additionally authorize a total of 100,000,000 shares of preferred stock, par value $.0001 per share which may be issued by the Company. | |
On April 5, 2013, the Company issued 12,346,500 shares of common stock for debt of $92,500 and accrued interest of $30,965 for a total of $123,465. | |
As of June 30, 2014 there were 89,005,250 shares of common stock issued and outstanding. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 7 – COMMITMENTS AND CONTINGENCIES | |
The Company had entered into a lease agreement for its business premises which called for monthly payments in the amount of approximately £368 through May 31, 2014. The lease was assumed by the former CEO upon the change of control on March 4, 2014. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. |
Income_Taxes
Income Taxes | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
INCOME TAXES | ' | ||||||||
NOTE 8 – INCOME TAXES | |||||||||
As of June 30, 2014, the Company had net operating loss carry forwards of approximately $461,155 that may be available to reduce future years’ taxable income arising from the same trade. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. | |||||||||
The provision for corporate income tax at the expected rate of 34% consists of the following for the six months ended June 30, 2014 and 2013: | |||||||||
2014 | 2013 | ||||||||
Corporate income tax benefit attributable to: | |||||||||
Current Operations | $ | (142,317 | ) | $ | 22,148 | ||||
Less: valuation allowance | 142,317 | (22,148 | ) | ||||||
Net provision for Corporate income taxes | $ | 0 | $ | 0 | |||||
The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of June 30, 2014 and December 31, 2013: | |||||||||
30-Jun-14 | December 31, | ||||||||
2013 | |||||||||
Deferred tax asset attributable to: | |||||||||
Net operating loss carryover | $ | 58,805 | $ | 201,122 | |||||
Less: valuation allowance | (58,805 | ) | (201,122 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 |
Subsequent_Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
NOTE 9 – SUBSEQUENT EVENTS | |
In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to June 30, 2014 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements other than the events described above. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Nature of Business | ' |
Nature of Business | |
Stragenics, Inc., formerly known as Mobieyes Software, Inc. (the “Company” or “Stragenics”) was incorporated under the laws of the State of Florida on January 15, 2009. On February 23, 2010, the Company changed its name to Resource Exchange of America Corp. Effective April 30, 2013, the Company changed its name to Allerayde SAB, Inc. Effective April 28, 2014, the Company changed its name to Stragenics, Inc. The Company’s prior business was a mobile enterprise software company aimed at improving productivity of field service organizations. Upon completion of the acquisition of assets from UTP Holdings, LLC on February 22, 2010, the Company adopted the business of UTP Holdings, LLC. The Company was engaged in the business of recycling ferrous and nonferrous metals to customers in the United States and abroad. | |
On March 21, 2013, the Company entered into a Share Exchange Agreement with Allerayde SAB Limited. (“Allerayde”) and Mike Rhodes, the sole member of Allerayde (the “Allerayde Stockholder”) (the “Share Exchange Agreement”). This share exchange transaction constituted a reverse merger and a recapitalization of Stragenics (formerly Allerayde). In conjunction with this reverse merger, the historical accounts of Stragenics become the historical accounts of Resource Exchange of America Corp for accounting purposes. | |
Accounting Basis | ' |
Accounting Basis | |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a December 31 fiscal year end. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
Stragenics considers all highly liquid investments with maturities of three months or less to be cash equivalents. At June 30, 2014 and December 31, 2013, respectively, the Company had $2,004 and $0 of cash and a bank overdraft of $409. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The Company’s financial instruments consist of cash and cash equivalents, accounts payable and accrued expenses, convertible notes payable, derivative liability, amounts due to related parties and loans payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. | |
Income Taxes | ' |
Income Taxes | |
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Revenue Recognition | ' |
Revenue Recognition | |
The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |
Foreign Currency | ' |
Foreign Currency | |
The operations of the Company were located in England and Wales. Stragenics maintained a Great Britain Pounds bank account. The functional currency is the U.S. Dollar. Transactions in foreign currencies other than the functional currency, if any, are re-measured into the functional currency at the rate in effect at the time of the transaction. Monetary assets and liabilities denominated in Great Britain Pounds are translated into U.S. Dollars at the rate in effect at the balance sheet date. Revenue and expenses denominated in Great Britain Pounds Dollars are translated at the average exchange rate. | |
Basic Income (Loss) Per Share | ' |
Basic Income (Loss) Per Share | |
Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of June 30, 2014. | |
Stock-Based Compensation | ' |
Stock-Based Compensation | |
Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
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. | |
Stragenics does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow other than the pronouncement described above. |
Income_Taxes_Tables
Income Taxes (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Summary of provision for corporate income tax | ' | ||||||||
2014 | 2013 | ||||||||
Corporate income tax benefit attributable to: | |||||||||
Current Operations | $ | (142,317 | ) | $ | 22,148 | ||||
Less: valuation allowance | 142,317 | (22,148 | ) | ||||||
Net provision for Corporate income taxes | $ | 0 | $ | 0 | |||||
Summary of deferred income tax assets | ' | ||||||||
30-Jun-14 | December 31, | ||||||||
2013 | |||||||||
Deferred tax asset attributable to: | |||||||||
Net operating loss carryover | $ | 58,805 | $ | 201,122 | |||||
Less: valuation allowance | (58,805 | ) | (201,122 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
Summary of Significant Accounting Policies (Textual) | ' | ' | ' |
Cash and equivalents | $2,004 | $0 | $0 |
Bank overdrafts | $0 | $409 | ' |
Going_Concern_Details
Going Concern (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Going Concern (Textual) | ' | ' |
Deficit accumulated during the development stage | ($2,766,404) | ($3,184,981) |
Due_to_Related_Parties_Details
Due to Related Parties (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | |
Mar. 18, 2010 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Due to Related Parties (Textual) | ' | ' | ' | ' |
Amount due to related party | ' | $431,061 | $431,061 | $431,061 |
Maximum borrowing capacity under line of credit facility | 150,000 | ' | ' | ' |
Line of credit facility, Interest rate | 8.00% | ' | ' | ' |
Line of credit, amount | ' | 50,300 | 50,300 | ' |
Advances from shareholder | ' | ' | 5,100 | ' |
Advances repaid to shareholder | ' | 5,080 | ' | ' |
Due to shareholder | ' | $20 | $20 | ' |
Promissory_Notes_Details
Promissory Notes (Details) (USD $) | 3 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | |||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Sep. 24, 2013 | Sep. 10, 2013 | Jun. 30, 2014 | Aug. 01, 2013 | |
Capital Nordic Ltd [Member] | Capital Nordic Ltd [Member] | DeBondo Capital Ltd [Member] | DeBondo Capital Ltd [Member] | ||||||
Promissory Notes (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Promissory notes carrrying amount | ' | ' | ' | ' | ' | $5,000 | $3,000 | $1,700 | $18,700 |
Interest expense | 13,077 | 723 | 26,154 | 6,357 | ' | 750 | 450 | ' | ' |
Interest rate, Description | ' | ' | ' | ' | ' | 'Payable after 4 months. | 'Payable after 4 months. | ' | ' |
Promissory notes maturity date | ' | ' | ' | ' | ' | ' | ' | 1-Feb-14 | ' |
Unamortized discount | 0 | ' | 0 | ' | 286 | ' | ' | ' | ' |
Due to unrelated party | 30,555 | ' | 30,555 | ' | ' | ' | ' | ' | ' |
Loan from unrelated party | $5,000 | ' | $5,000 | ' | ' | ' | ' | ' | ' |
Convertible_Note_Payable_Detai
Convertible Note Payable (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Apr. 01, 2014 | Dec. 31, 2013 | Mar. 18, 2010 | Jun. 30, 2014 | Feb. 22, 2010 | Jun. 30, 2014 | Apr. 13, 2010 | Jun. 30, 2014 | Oct. 14, 2010 | Jan. 31, 2005 | Jun. 30, 2014 | Dec. 31, 2013 | Apr. 05, 2013 | Feb. 23, 2011 | Apr. 05, 2013 | Mar. 24, 2011 | Apr. 05, 2013 | 25-May-11 | Aug. 31, 2012 | Jun. 30, 2014 | Nov. 16, 2012 | Jun. 30, 2014 | Jan. 07, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Feb. 04, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Mar. 12, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
DeBondo Capital Ltd [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable One [Member] | Convertible Notes Payable One [Member] | Convertible Notes Payable One [Member] | Convertible Notes Payable Two [Member] | Convertible Notes Payable Two [Member] | Convertible Notes Payable Two [Member] | Convertible Notes Payable Three [Member] | Convertible Notes Payable Three [Member] | Convertible Notes Payable Four [Member] | Convertible Notes Payable Four [Member] | Convertible Notes Payable Five [Member] | Convertible Notes Payable Five [Member] | Convertible Notes Payable Six [Member] | Convertible Notes Payable Six [Member] | Convertible Notes Payable Seven [Member] | Convertible Notes Payable Seven [Member] | Convertible Notes Payable Eight [Member] | Convertible Notes Payable Eight [Member] | Convertible Notes Payable Eight [Member] | Convertible Notes Payable Nine [Member] | Convertible Notes Payable Nine [Member] | Convertible Notes Payable Nine [Member] | Convertible Notes Payable Ten [Member] | Convertible Notes Payable Ten [Member] | Convertible Notes Payable Ten [Member] | Convertible Notes Payable Eleven [Member] | ||||||||
President [Member] | President [Member] | Non - Related Party [Member] | Non - Related Party [Member] | Non - Related Party [Member] | Former President [Member] | Former President [Member] | Former President [Member] | DeBondo Capital Ltd [Member] | DeBondo Capital Ltd [Member] | DeBondo Capital Ltd [Member] | DeBondo Capital Ltd [Member] | DeBondo Capital Ltd [Member] | DeBondo Capital Ltd [Member] | Laurag Associates [Member] | Laurag Associates [Member] | Laurag Associates [Member] | ||||||||||||||||||||
Convertible Note Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of convertible promissory notes | ' | ' | ' | ' | ' | ' | ' | ' | $250,000 | ' | $250,000 | ' | ' | ' | ' | ' | $37,500 | ' | $27,500 | ' | $27,500 | ' | ' | ' | ' | ' | ' | ' | ' | $4,000 | ' | ' | $2,500 | ' | ' | ' |
Debt instrument, interest rate | ' | ' | ' | ' | 8.00% | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | 8.00% | ' | 8.00% | 6.00% | ' | 6.00% | ' | 5.00% | ' | ' | 5.00% | ' | ' | 5.00% | ' | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | 1-Feb-14 | 31-Dec-10 | ' | 13-Apr-11 | ' | ' | 31-Dec-11 | ' | ' | ' | 28-Nov-11 | ' | 28-Dec-11 | ' | 27-Feb-12 | 31-Aug-13 | ' | 16-Nov-13 | ' | 8-Jan-14 | ' | ' | 4-Feb-14 | ' | ' | 13-Mar-14 | ' | ' | ' |
Debt instrument, conversion feature, description | ' | ' | ' | ' | ' | ' | ' | ' | 'The holder may convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 75% of the average of the closing market price of the Company's common stock during the five trading days immediately preceding the conversion date. | ' | 'The holder could convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 75% of the average of the closing market price of the Company's common stock during the thirty trading days immediately preceding the conversion date. | ' | ' | 'Equal to 75% of the average of the closing market price of the Company's common stock during the five trading days immediately preceding the conversion date. The maturity date was December 31, 2011 and the note is now due on demand. | ' | ' | ' | 'The holder could elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 61% of the average of the three lowest closing market prices during the ten day trading period immediately preceding the conversion date. | ' | 'The holder could elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 61% of the average of the three lowest closing market prices during the ten day trading period immediately preceding the conversion date. | ' | 'The holder could elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to 61% of the average of the three lowest closing market prices during the ten day trading period immediately preceding the conversion date. | 'The holder may elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to the market price of the stock as determined by taking the average trading price of the stock over the previous 30 days. | ' | 'The holder may elect to convert, at any time, any amount outstanding into shares of common stock of the Company at a conversion price per share equal to the market price of the stock as determined by taking the average trading price of the stock over the previous 30 days. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of the conversion feature | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175,081 | ' | 147,140 | ' | ' | 190,274 | ' | ' | 37,500 | ' | 27,500 | ' | 27,500 | 1,407 | ' | 1,410 | ' | 29,841 | ' | ' | 2,408 | ' | ' | 1,568 | ' | ' | 9,834 |
Carrying value of convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' | 250,000 | ' | ' | 788,472 | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | ' | 66,709 | ' | 50,000 | ' | ' | 4,000 | ' | ' | 2,500 | ' | 10,083 |
Derivative liability | 282,793 | ' | 282,793 | ' | ' | 735,979 | ' | ' | ' | 60,330 | ' | ' | ' | ' | 190,274 | ' | ' | ' | ' | ' | ' | ' | ' | 1,557 | ' | 5,121 | ' | 17,839 | ' | ' | 1,427 | ' | ' | 892 | ' | 5,352 |
Maximum borrowing capacity under line of credit facility | ' | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, conversion price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding convertible debt | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | 788,472 | 788,472 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from convertible notes payable | ' | ' | 15,000 | 54,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,500 | ' | 27,500 | ' | 27,500 | 20,000 | ' | 66,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | 246,756 | ' | 246,756 | ' | ' | 220,603 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,387 | ' | 9,320 | ' | 8,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion, common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,088,700 | ' | 3,682,000 | ' | 3,575,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | 4,917 | 0 | 6,219 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 490 | 29,351 | ' | 225 | 2,183 | ' | 301 | 1,267 | ' |
Debt conversion, converted instrument, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 |
Debt conversion, original debt, interest rate of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% |
Debt conversion, description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The note is due on October 1, 2014, is unsecured and bears interest at 8%. |
Unamortized discount | $0 | ' | $0 | ' | ' | $286 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,917 |
Common_Stock_Details
Common Stock (Details) | 0 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | ||||
Apr. 05, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | Common Stock [Member] | |
Common Stock (Textual) | ' | ' | ' | ' | ' | ' | ' | ' |
Share issued on inception | ' | ' | ' | 10 | 10 | ' | ' | ' |
Issue price per share | ' | ' | ' | ' | £ 1 | ' | ' | ' |
Proceeds from issuance of common stock | ' | $0 | $0 | ' | £ 10 | ' | ' | ' |
Stock historical rate | ' | ' | ' | $15 | ' | ' | ' | ' |
Stock issued to stockholders pursuant to recapitalization of Allerayde | ' | ' | ' | 75,872,411 | 75,872,411 | ' | ' | ' |
Percentage of equity issued | ' | ' | ' | 98.97% | 98.97% | ' | ' | ' |
Merger/recapitalization, shares | ' | ' | ' | ' | ' | ' | ' | 786,328 |
Common stock authorized | ' | 400,000,000 | ' | ' | ' | 400,000,000 | 400,000,000 | ' |
Common stock shares authorized prior to amendment | ' | ' | ' | ' | ' | ' | 250,000,000 | ' |
Common Stock, par value | ' | $0.00 | ' | ' | ' | $0.00 | $0.00 | ' |
Additional authorized preferred capital | ' | ' | ' | ' | ' | ' | 100,000,000 | ' |
Preferred Stock, par value per share | ' | ' | ' | ' | ' | ' | $0.00 | ' |
Common Stock, shares issued | 12,346,500 | 89,005,250 | ' | ' | ' | 89,005,250 | ' | ' |
Common Stock, shares outstanding | ' | 89,005,250 | ' | ' | ' | 89,005,250 | ' | ' |
Debt | 92,500 | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | 246,756 | ' | ' | ' | 220,603 | ' | ' |
Accrued interest, Total | $123,465 | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (GBP £) | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies (Textual) | ' |
Lease expiration date | 31-May-14 |
Monthly payment of leased premises | £ 368 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Corporate income tax benefit attributable to: | ' | ' | ' | ' |
Current operations | ' | ' | ($142,317) | $22,148 |
Less: valuation allowance | ' | ' | 142,317 | -22,148 |
Net provision for Corporate income taxes | $0 | $0 | $0 | $0 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Deferred tax asset attributable to: | ' | ' |
Net operating loss carryover | $58,805 | $201,122 |
Less: valuation allowance | -58,805 | -201,122 |
Net deferred tax asset | $0 | $0 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Income Taxes (Textual) | ' | ' |
Net operating loss carry forwards | $461,155 | ' |
Provision for corporate income tax, expected rate | 34.00% | 34.00% |
Cumulative tax effect, expected rate | 34.00% | 34.00% |