Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Jun. 30, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | All Marketing Solutions, Inc. | |
Document Type | 10-K | |
Document Period End Date | Dec. 31, 2016 | |
Trading Symbol | ptpro | |
Amendment Flag | false | |
Entity Central Index Key | 1,464,300 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 104,710,000 | |
Entity Public Float | $ 104,710 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | Yes | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | FY |
Condensed Balance Sheets - Audi
Condensed Balance Sheets - Audited - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash | ||
Prepaid Expenses | ||
Total Current Assets | ||
Software, less impairment | ||
Total Fixed Assets | ||
Total Assets | ||
Current Liabilities | ||
Accounts Payable and Accrued Liabilities | 157,470 | 152,288 |
Accounts Payable - related party | 24,115 | 27,600 |
Loans from related party | 127,970 | 113,600 |
Total Current Liabilities | 309,555 | 293,488 |
Total Liabilities | 309,555 | 293,488 |
Stockholders' Equity (Deficit) | ||
Common Stock, Value, Issued | 104,710 | 104,710 |
Additional Paid in Capital | 960,610 | 960,610 |
Accumulated Deficit | (1,374,875) | (1,358,808) |
Total Stockholders' Equity | (309,555) | (293,488) |
Total Liabilities and Stockholder's Equity (Deficit) | $ 0 | $ 0 |
Statement of Financial Position
Statement of Financial Position - Parenthetical - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Balance Sheets | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares Issued | 104,710,000 | 104,710,000 |
Common Stock, Shares Outstanding | 104,710,000 | 104,710,000 |
Condensed Statement of Operatio
Condensed Statement of Operations - Audited - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | ||
Revenues | ||
Total Revenues | ||
Impairment of fixed asset | ||
Office and General | 2,880 | 4,499 |
Professional Fees | 13,187 | 13,500 |
-Related Party | ||
Total Expenses | 16,067 | 17,999 |
Net Loss | $ (16,067) | $ (17,999) |
Basic and Diluted Loss per Common Share | ||
Weighted Average Number of Common Shares Outstanding | 104,710,000 | 104,710,000 |
Statement of Shareholders' Equi
Statement of Shareholders' Equity - Audited - USD ($) | Common Stock | Additional Paid in Capital | SharesSubscriptionReceivableMember | Accumulated Deficit | Total |
Balance at December 31, 2014, value at Dec. 31, 2014 | $ 104,710,000 | $ 960,610 | $ (1,340,809) | $ (275,489) | |
Balance at December 31, 2014, shares at Dec. 31, 2014 | 104,710 | ||||
Net Loss | $ (17,999) | $ (17,999) | |||
Balance at December 31, 2014, value at Dec. 31, 2015 | $ 104,710,000 | $ 960,610 | $ (1,358,808) | $ (293,488) | |
Balance at December 31, 2014, shares at Dec. 31, 2015 | 104,710 | ||||
Net Loss | $ (16,067) | $ (16,067) | |||
Balance at December 31, 2014, value at Dec. 31, 2016 | $ 104,710,000 | $ 960,610 | $ (1,374,875) | $ (309,555) | |
Balance at December 31, 2014, shares at Dec. 31, 2016 | 104,710 |
Statement of Cash Flows - Audit
Statement of Cash Flows - Audited - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Activities | ||
Net Loss | $ (16,067) | $ (17,999) |
Adjustments to Reconcile Net Loss to net cash used in Operating Activities: | ||
Impairment of software source code | ||
Expenses paid on company's behalf by shareholder | 14,370 | 26,989 |
Prepaid Expenses | ||
Increase (Decrease) in Accrued Expenses | 1,697 | (9,616) |
Net Cash Provided by (Used in) Operating Activities | 0 | (626) |
Net Cash Provided by (Used in) Investing Activities | ||
Financing Activities | ||
Proceeds from sale of common stock | ||
Net Cash Provided by Financing Activities | ||
Net Increase (Decrease) in Cash | (626) | |
Cash beginning of period | 626 | |
Cash end of period | ||
Supplemental cash flow information and noncash financing activities: | ||
Interest | ||
Income taxes |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Basis of Presentation | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Note 1 - Nature of Operations and Basis of Presentation | NOTE 1 NATURE OF OPERATIONS AND BASIS OF PRESENTATION The Company was incorporated in the State of Nevada as a for-profit Company on December 17, 2008 and established a fiscal year end of December 31. It intends to seek business opportunities in the patent consulting and technology transfer and commercialization industries, specializing in financing and facilitating the patent application process for individual inventors and organizations that lack the financial resources to do so on their own. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements present the balance sheet, statements of operations, stockholders' equity (deficit) and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. Advertising Advertising costs are expensed as incurred. As of December 31, 2016, no advertising costs have been incurred. Research and Development Research and Development costs are expensed as incurred. As of December 31, 2016, no costs have been incurred. Property The Company does not own or rent any property. The office space is provided by the president at no charge . Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. Revenue and Cost Recognition The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. Recent Accounting Pronouncements The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the companys financial statement. FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) - Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. Fair Value of Financial Instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2016 and December 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Note 3 - Going Concern | NOTE 3 GOING CONCERN The Companys financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $309,555 , an accumulated deficit of $1,374,875 and net loss from operations since inception of $1,374,875 . The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founders shares. The officers and directors have committed to advancing certain operating costs of the Company, including Legal, Audit, Transfer Agency and Edgarizing costs |
Note 4 - Capital Stock
Note 4 - Capital Stock | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Note 4 - Capital Stock | NOTE 4 CAPITAL STOCK The Companys capitalization is 200,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. On September 30, 2009 the President was issued 2,280,000,000 common shares for $9,500 cash, which was received on October 8, 2009. In March, 2012 the Company issued 40,560,000 common shares for cash of $5,070 . On February 5, 2013 the Company approved that the 75,000,000 authorized common shares be increased to 200,000,000 authorized common shares. On February 6, 2013 the Company redeemed 2,220,000,000 common shares (9,250,000 pre-split) for $10 cash. This resulted in a reduction in the Accumulated Deficit of $9,240 . The stock was cancelled. On January 8, 2014, the Company issued 4,000,000 common shares in exchange for a capital acquisition, at $0.25 per share. On May 15, 2014, the Company issued 150,000 common shares for cash of $60,000 . As of December 31, 2016, and as of December 31, 2015 104,710,000 common shares are issued and outstanding. |
Note 5 - Loan Payable - Related
Note 5 - Loan Payable - Related Party Loans | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Note 5 - Loan Payable - Related Party Loans | NOTE 5 LOAN PAYABLE RELATED PARTY LOANS The Company has received $127,970 (December 31, 2015 - $113,600) as a loan from four different related parties. The loans are payable on demand and without interest. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Note 6 - Income Taxes | NOTE 6 INCOME TAXES We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. The components of the Companys deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of December 31, 2016 are as follows: December 31, 2016 December 31, 2015 Net operating loss carry forward 1,384,115 1,368,048 Effective Tax rate 35% 35% Deferred Tax Assets 484,440 478,817 Less: Valuation Allowance (484,440) (478,817) Net deferred tax asset $ 0 $ 0 The net federal operating loss carry forward will expire between 2028 and 2029. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. . |
Note 2 - Summary of Significa13
Note 2 - Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Basis of Presentation | Basis of Presentation The financial statements present the balance sheet, statements of operations, stockholders' equity (deficit) and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. |
Note 2 - Summary of Significa14
Note 2 - Summary of Significant Accounting Policies: Advertising (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Advertising | Advertising Advertising costs are expensed as incurred. As of December 31, 2016, no advertising costs have been incurred. |
Note 2 - Summary of Significa15
Note 2 - Summary of Significant Accounting Policies: Research and Development (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Research and Development | Research and Development Research and Development costs are expensed as incurred. As of December 31, 2016, no costs have been incurred. |
Note 2 - Summary of Significa16
Note 2 - Summary of Significant Accounting Policies: Property (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Property | Property The Company does not own or rent any property. The office space is provided by the president at no charge |
Note 2 - Summary of Significa17
Note 2 - Summary of Significant Accounting Policies: Use of Estimates and Assumptions (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Use of Estimates and Assumptions | Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Note 2 - Summary of Significa18
Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Income Taxes | Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. |
Note 2 - Summary of Significa19
Note 2 - Summary of Significant Accounting Policies: Revenue and Cost Recognition (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Revenue and Cost Recognition | Revenue and Cost Recognition The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. |
Note 2 - Summary of Significa20
Note 2 - Summary of Significant Accounting Policies: Net Loss Per Share (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Net Loss Per Share | Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. |
Note 2 - Summary of Significa21
Note 2 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the companys financial statement. FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) - Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. |
Note 2 - Summary of Significa22
Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. |
Note 2 - Summary of Significa23
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 Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2016 and December 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. |
Note 6 - Income Taxes_ Schedule
Note 6 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | December 31, 2016 December 31, 2015 Net operating loss carry forward 1,384,115 1,368,048 Effective Tax rate 35% 35% Deferred Tax Assets 484,440 478,817 Less: Valuation Allowance (484,440) (478,817) Net deferred tax asset $ 0 $ 0 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details) | Dec. 31, 2016USD ($) |
Details | |
WorkingCapitalDeficit | $ 309,555 |
AccumulatedDeficit | 1,374,875 |
NetLossFromOperations | $ 1,374,875 |
Note 4 - Capital Stock (Details
Note 4 - Capital Stock (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2014 | May 15, 2014 | Jan. 08, 2014 | Feb. 06, 2013 | Feb. 05, 2013 | Mar. 31, 2012 | Sep. 30, 2009 | Dec. 17, 2008 |
Details | |||||||||
Common shares | 200,000,000 | ||||||||
Common shares with a par value | $ 0.001 | ||||||||
Founder's shares | 2,280,000,000 | ||||||||
Founders shares | $ 9,500 | ||||||||
Common shares issued | 104,710,000 | 104,710,000 | 4,000,000 | 40,560,000 | |||||
Common shares issued, value | $ 60,000 | $ 5,070 | |||||||
Authorized common shares | 200,000,000 | 75,000,000 | |||||||
Redeemed common shares | 2,220,000,000 | ||||||||
Redeemed common shares, value | $ 10 | ||||||||
Accumulated deficit amount | $ 9,240 | ||||||||
Common shares issued, per share | $ 0.25 |
Note 5 - Loan Payable - Relat27
Note 5 - Loan Payable - Related Party Loans (Details) | Dec. 31, 2016USD ($) |
Details | |
Loans and Leases Receivable, Related Parties | $ 127,970 |
Note 6 - Income Taxes_ Schedu28
Note 6 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Details | ||
Net operating loss carry forward | $ 1,384,115 | $ 1,368,048 |
Effective Tax rate | 35.00% | 35.00% |
Deferred Tax Assets | $ 484,440 | $ 478,817 |
Valuation Allowances and Reserves, Balance | 484,440 | 478,817 |
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | $ 0 |