Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 20-May-14 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'ENERGY EDGE TECHNOLOGIES CORP. | ' |
Entity Central Index Key | '0001495230 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 172,791,221 |
Document Fiscal Period Focus | 'Q1 | ' |
Document Fiscal Year Focus | '2014 | ' |
CONSOLIDATED_BALANCE_SHEETS_Un
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Current Assets | ' | ' |
Cash and cash equivalents | ($7,264) | $45,164 |
Accounts receivable, net | ' | ' |
Prepaid expenses | 202,249 | 254,983 |
Total Current Assets | 195,985 | 300,147 |
Property and equipment, net | 2,901 | 3,329 |
Total Other Assets | 19,449 | 14,091 |
TOTAL ASSETS | 218,335 | 317,567 |
Current liabilities | ' | ' |
Accounts payable | 169,638 | 172,581 |
Accrued expenses and other current liabilities | 501,042 | 115,290 |
Common stock payable | ' | 7,400 |
Due to related parties | 345,462 | 354,641 |
Convertible note payable, net of discount of $77,833 and $0, respectively | 49,501 | 17,667 |
Derivative liability | 132,159 | 158,278 |
Total Current Liabilities | 870,519 | 825,857 |
Convertible note payable, net of discount of $34,375 and $0, respectively | 8,140 | 7,225 |
Derivative liability, net of current portion | 57,439 | 57,439 |
Total Long Term Liabilities | 65,579 | 64,664 |
Total Liabilities | 936,098 | 890,521 |
Stockholders' Equity (Deficit) | ' | ' |
Common stock, $.00001 par value, 250,000,000 shares authorized, 172,791,221 shares issued and outstanding (190,873,829 - December 31, 2013) | 1,930 | 1,910 |
Additional paid-in capital | 3,995,404 | 3,983,530 |
Subscription receivable | -1,000 | -1,000 |
Treasury stock | -5,000 | -5,000 |
Accumulated deficit | -4,710,491 | -4,456,314 |
Total Energy Edge Deficit | -719,157 | -476,874 |
Non-controlling interests | -96,080 | -96,080 |
Total Equity (Deficit) | -717,763 | -569,954 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $218,335 | $317,567 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Unamortizied discount on issue of convertible notes payable, Current | $77,833 | $0 |
Unamortizied discount on issue of convertible notes payable, Long Term | $34,375 | $0 |
Common Stock, par or stated value (in dollar per share) | $0.00 | $0.00 |
Common Stock, shares authorized | 250,000,000 | 250,000,000 |
Common Stock, shares issued | 172,791,221 | 190,873,829 |
Common Stock, shares outstanding | 172,791,221 | 190,873,829 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Income Statement [Abstract] | ' | ' |
CONTRACT REVENUES | ' | $2,240 |
CONTRACT COSTS | ' | 2,521 |
GROSS PROFIT (LOSS) | ' | -281 |
OPERATING EXPENSES | ' | ' |
Compensation | 58,663 | 17,166 |
Consulting services | 44,071 | 100,919 |
Professional fees | 4,000 | 19,534 |
Director fees | ' | 2,000 |
General & administrative expenses | 29,369 | 119,375 |
TOTAL OPERATING EXPENSES | 136,103 | 258,994 |
LOSS FROM OPERATIONS | -136,103 | -259,275 |
OTHER INCOME (EXPENSE) | ' | ' |
Interest expense | -38,084 | -950 |
Other Expense | -3,072 | ' |
Change in fair value of derivative liability | 19,555 | ' |
TOTAL OTHER INCOME (EXPENSE) | -21,601 | -950 |
LOSS BEFORE INCOME TAXES AND NON-CONTROLLING INTERESTS | -157,704 | -260,225 |
PROVISION FOR INCOME TAXES | ' | ' |
LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | ' | 50,408 |
NET LOSS ATTRIBUTABLE TO ENERGY EDGE TECHNOLOGIES CORPORATION SHAREHOLDERS | ($157,704) | ($209,817) |
LOSS PER SHARE: BASIC AND DILUTED | $0 | $0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED | 155,373,009 | 94,364,613 |
CONSOLIDATED_STATEMENT_OF_CHAN
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (DEFICIT) (Unaudited) (USD $) | Common Stock | Additional Paid-In Capital | Subscription Receivable | Treasury Stock | Noncontrolling Interest | Accumulated Deficit | Total |
Beginning Balance at Dec. 31, 2013 | $1,910 | $3,983,530 | ($1,000) | ($5,000) | ($96,080) | ($4,456,314) | ($569,954) |
Beginning Balance (in shares) at Dec. 31, 2013 | 190,873,829 | ' | ' | ' | ' | ' | ' |
Issuance of shares for services, value | 30 | 29,970 | ' | ' | ' | ' | 30,000 |
Issuance of shares for services (in shares) | 3,000,000 | ' | ' | ' | ' | ' | ' |
Issuance of shares for cancellation of debts | 14 | 13,986 | ' | ' | ' | ' | 14,000 |
Issuance of shares for cancellation of debts (in shares) | 1,400,000 | ' | ' | ' | ' | ' | ' |
Shares retired, value | -328 | -378,512 | ' | ' | ' | ' | -378,840 |
Shares retired, shares | -32,800,000 | ' | ' | ' | ' | ' | ' |
Issuance of shares for conversion of debt | 113 | ' | ' | ' | ' | ' | ' |
Issuance of shares for conversion of debt, shares | 11,317,392 | ' | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | ' | ' | -157,704 | -157,704 |
Ending Balance at Mar. 31, 2014 | $1,739 | $1 | ($1,000) | ($5,000) | ($96,080) | ($4,614,018) | ($717,763) |
Ending Balance (in shares) at Mar. 31, 2014 | 173,791,221 | ' | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net (loss) for the period | ($1,021,443) | ($1,021,443) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Non-controlling interests | ' | -50,408 |
Shares issued for services | 30,000 | ' |
Change in fair value of derivative liability | -19,555 | ' |
Depreciation and amortization | 12,000 | 429 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | ' | ' |
Costs and estimated earnings in excess of billings on uncompleted contracts | ' | ' |
Accounts receivable - other | -28,487 | ' |
Prepaid expenses | -14,150 | 5,209 |
Accounts payable | -2,163 | -61,402 |
Billings in excess of costs and estimated earnings on uncompleted contracts | ' | ' |
Accrued expenses and other current liabilities | -27,754 | -28,593 |
Cash flows used in operating activities | -329,452 | -263,582 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Purchase of intangible assets | -3,566 | -3,566 |
Cash used in investing activities | -3,566 | -3,566 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Repayment of related party advances | -12,162 | -15,781 |
Proceeds from issuance of debt | 92,500 | ' |
Proceeds from the sale of common stock | 289,113 | 289,113 |
Purchase of treasury shares | ' | ' |
Cash flows provided by (used in) financing activities | 369,451 | 273,332 |
Net increase (decrease) in cash and cash equivalents | 36,433 | 36,433 |
Cash and cash equivalents, beginning of the period | 45,164 | 18,553 |
Cash and cash equivalents, end of the period | -7,264 | 24,737 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' |
Interest paid | 11,355 | 950 |
Income taxes paid | ' | ' |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' |
Issuance of stock in payment of accounts payable | 14,000 | 116,134 |
Acquisition of non-controlling interest | ' | $91,466 |
Nature_of_Operations
Nature of Operations | 3 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
NATURE OF OPERATIONS | ' |
NOTE 1 – NATURE OF OPERATIONS | |
Energy Edge Technologies Corporation (“EEDG”) was incorporated in New Jersey in January, 2004. Energy Edge Technologies Corporation is comprised of two subsidiaries: Energy Edge Solutions (“EES”) and The Gourmet Chicken Company, Inc. (“TGCC”) | |
The Company acquired a 51% interest in Energy Edge Solutions in 2012. Energy Edge Solutions provides energy engineering and services specializing in the development and implementation of advanced turnkey projects to reduce energy losses and increase the efficiency of new and existing buildings. The Company is comprised of professional and industrial engineers, Leadership in Energy and Environmental Design (“LEED”) Accredited Professionals, and Green Building Coalition Certifying Agents. Energy Edge is a Clean Energy Pay for Performance Partner and a Smart Start Building Trade Ally. EES’ custom designed projects are developed using proprietary methods and maximize energy savings by treating an entire facility based on its unique features and electricity and gas usage. | |
EES applies a whole facility approach to energy cost reduction by applying different technologies and engineering approaches to treat most of the various electrical and gas consuming loads across facility such as lighting, HVAC, refrigeration, and production equipment. The energy projects developed and implemented by EES are ideal for virtually any type of facility and have successfully resulted in tremendous savings in manufacturing plants, hospitals, entertainment venues, office buildings, restaurants, warehouses, etc. | |
EES’ revenues come primarily from engineering survey work and turnkey energy projects where EES takes responsibility for equipment procurement, installation labor, utility rebates, tax incentives, pre and post survey work, waste removal, certifications, and ongoing measurement and verification of results. | |
During 2012, the Company acquired sixty-five percent (65%) of the capital stock of The Dry Fried Wing Company. On March 31, 2013, the Company acquired the remaining thirty-five percent (35%) of such stock. On April 5, 2013 the Company officially changed the name of The Dry Fried Wing Company to The Gourmet Chicken Company, Inc. (“TGCC”). | |
TGCC is a newly formed combined fast casual restaurant company in the chicken wing segment and restaurant management company. TGCC is primarily engaged in the business of managing, licensing, operating, developing and franchising a system of distinctive quick-service and fast casual restaurants in the chicken wing segment. | |
TGCC revenues will primarily be derived from management fees, royalty fees, licensing fees and franchise fees. TGCC will also sell food, sauces, mixes and other supplies to its franchisees/licensees. |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Annual Report filed with the SEC on Form 10-K for the year ended December 31, 2013. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the necessary of the financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited financial statements for fiscal 2013 as reported in the Form 10-K have been omitted.+ | |
Reclassifications | |
Certain accounts and financial statement captions in the prior periods have been reclassified to conform to the current period financial statements. | |
Recent Accounting Pronouncements | |
Energy Edge 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 flows. |
Going_Concern
Going Concern | 3 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
GOING CONCERN | ' |
NOTE 3 – GOING CONCERN | |
The Company has limited working capital, and has suffered significant losses from operations. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern. | |
The ability of Energy Edge Technologies Corporation to continue as a going concern is dependent on the Company generating cash from the sale of its common stock, obtaining debt financing, attaining future profitable operations, acquiring or merging with a profitable company, and/or developing successful business operations in other industries through investment in related party ventures. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirements; however, there can be no assurance the Company will be successful in these efforts. |
Prepaid_Expenses
Prepaid Expenses | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
PREPAID EXPENSES | ' | ||||||||
NOTE 4 – PREPAID EXPENSES | |||||||||
Prepaid expenses consisted of the following at March 31, 2014 and December 31, 2013: | |||||||||
31-Mar-14 | December 31, 2013 | ||||||||
Prepaid project expenses | $ | 29,950 | $ | 29,950 | |||||
Prepaid consulting expense | 172,299 | 225.033 | |||||||
Total prepaid expenses | $ | 202,249 | $ | 254,983 | |||||
Prepaid Project Expenses | |||||||||
Prepaid project expenses consist of monies expended for project equipment for a project temporarily put on hold. | |||||||||
Prepaid Consulting | |||||||||
The Company has retained a number of consultants. These consultants are paid in cash and/or issuance of Company stock. Consultants were issued 3,000,000 (Chase Chandler legal services) shares of stock valued at $29,970 for the three months ended March 31, 2014. The consulting fees are being amortized over the terms of the contracts. |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 5 – RELATED PARTY TRANSACTIONS | |
Related party payables and loans totaling $345,462 and $354,641 at March 31, 2014 and December 31, 2013, respectively, are owed to various related parties of the Company for reimbursement of expenses incurred on behalf of the Company. | |
Related party loans are unsecured, non-interest bearing and have no specific terms of repayment. |
Convertible_Note_Payable
Convertible Note Payable | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Notes to Financial Statements | ' | ||||||||
CONVERTIBLE NOTE PAYABLE AND DERIVATIVE LIABILITY | ' | ||||||||
NOTE 7 – CONVERTIBLE NOTE PAYABLE AND DERIVATIVE LIABILITY | |||||||||
On May 13, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $50,000. This note is due and payable in full on May 14, 2015, and bears interest at 6% per annum. At any time prior to the payment in full of the entire balance of the note, the creditor has the option of converting all or any portion of the unpaid balance of the note into shares of common stock at a conversion price equal to seventy percent of the lowest closing bid price of the common stock for any of the five trading days prior to and including the conversion date. | |||||||||
The Company evaluated the terms of the note and concluded that since the conversion price was not fixed, and the number of shares of the Company’s common stock that are issuable upon the conversion of the convertible promissory note is indeterminable until such time as the Creditor elects to convert to common stock, the Company concluded that the embedded conversion option created a derivative liability. The Company measured the derivative liability using the input attributes disclosed below and recorded a derivative liability of $53,348 as of May 13, 2013. | |||||||||
During the three months ended March 31, 2014, the Creditor elected to convert $5,335 of the outstanding balance into 2,530,612 shares of the Company’s common stock. | |||||||||
On March 31, 2014, the Company re-measured the derivative liability using the input attributes below and determined the derivative liability value to be $47,650. Change in fair value of derivative of $9,789 was recorded as of March 31, 2014 and included in the statement of operations in order to adjust the derivative liability to the re-measured value. | |||||||||
May 13, 2013 | March 31, 2014 | ||||||||
Stock price | $ | 0.0099 | $ | 0.0037 | |||||
Exercise price | $ | 0.009044 | $ | 0.002786 | |||||
Shares issuable upon conversion | 5,528,527 | 13,016,870 | |||||||
Expected dividend yield | 0 | % | 0 | % | |||||
Expected life (years) | 2 | 1.12 | |||||||
Risk-free interest rate | 0.24 | % | 0.44 | % | |||||
Expected volatility | 313.5 | % | 473 | % | |||||
A debt discount of $50,000 related to the embedded conversion option was recorded at date of note issuance, and is being expensed over the life of the loan. For the three months ended March 31, 2014, amortization of $6,250 has been recorded, resulting in a remaining unamortized discount of $28,125 at March 31, 2014. | |||||||||
On September 30, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $53,000. This note is due and payable in full on June 24, 2014, and bears interest at 8% per annum. At any time beginning on the date that is 180 days after the note date and until the maturity date, the creditor has the option of converting all or any portion of the unpaid balance of the note into shares of common stock at a conversion price equal to fifty eight percent of the average of the three lowest closing bid price of the common stock for any of the ten trading days prior to the conversion date. | |||||||||
The Company evaluated the terms of the note and concluded that since the conversion price was not fixed, and the number of shares of the Company’s common stock that are issuable upon the conversion of the convertible promissory note is indeterminable until such time as the Creditor elects to convert to common stock, the Company concluded that the embedded conversion option created a derivative liability. The Company measured the derivative liability using the input attributes disclosed below and recorded a derivative liability of $88,930 as of September 30, 2013. | |||||||||
On March 31, 2014, the Company re-measured the derivative liability using the input attributes below and determined the derivative liability value to be $74,351. Change in fair value of derivative of $11,465 was recorded as of March 31, 2014 and included in the statement of operations in order to adjust the derivative liability to the re-measured value. | |||||||||
September 30, 2013 | March 31, 2014 | ||||||||
Stock price | $ | 0.0124 | $ | 0.0037 | |||||
Exercise price | $ | 0.007057 | $ | 0.002165 | |||||
Shares issuable upon conversion | 7,510,628 | 24,478,787 | |||||||
Expected dividend yield | 0 | % | 0 | % | |||||
Expected life (years) | 0.75 | 0.25 | |||||||
Risk-free interest rate | 0.07 | % | 0.05 | % | |||||
Expected volatility | 434.42 | % | 473 | % | |||||
A debt discount of $53,000 related to the embedded conversion option was recorded at date of note issuance, and is being expensed over the life of the loan. For the three months ended March 31, 2014, amortization of $17,667 has been recorded, resulting in a remaining unamortized discount of $17,667 at March 31, 2014. | |||||||||
On December 31, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $42,500. This note is due and payable in full on October 3, 2014, and bears interest at 8% per annum. At any time beginning on the date that is 180 days after the note date and until the maturity date, the creditor has the option of converting all or any portion of the unpaid balance of the note into shares of common stock at a conversion price equal to fifty eight percent of the average of the three lowest closing bid price of the common stock for any of the ten trading days prior to the conversion date. | |||||||||
The Company evaluated the term of the note and concluded that since the conversion price was not fixed, and the number of share of the Company’s common stock that are issuable upon the conversion of the convertible promissory note is indeterminable until such time as the Creditor elects to convert to common stock, the Company concluded that the embedded conversion option created a derivative liability. The Company measured the derivative liability using the input attributes disclosed below and recorded a derivative liability of $72,462 as of December 31, 2013. | |||||||||
ENERGY EDGE TECHNOLOGIES CORPORATION | |||||||||
On March 31, 2014, the Company re-measured the derivative liability using the input attributes below and determined the derivative liability value to be $67,597. Change in fair value of derivative of $4,865 was recorded as of March 31, 2014 and included in the statement of operations in order to adjust the derivative liability to the re-measured value. | |||||||||
December 31, 2013 | March 31, 2014 | ||||||||
Stock price | $ | 0.0077 | $ | 0.0037 | |||||
Exercise price | $ | 0.004331 | $ | 0.002165 | |||||
Shares issuable upon conversion | 9,813,293 | 24,478,787 | |||||||
Expected dividend yield | 0 | % | 0 | % | |||||
Expected life (years) | 0.76 | 0.25 | |||||||
Risk-free interest rate | 0.1 | % | 0.05 | % | |||||
Expected volatility | 441 | % | 473 | % | |||||
A debt discount of $42,500 related to the embedded conversion option was recorded at date of note issuance, and is being expensed over the life of the loan. For the three months ended March 31, 2014, amortization of $14,167 has been recorded, resulting in a remaining unamortized discount of $28,333 at March 31, 2014. |
Business_Segments
Business Segments | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
BUSINESS SEGMENTS | ' | ||||||||||||||||||||||||||||||||
NOTE 7 – BUSINESS SEGMENTS | |||||||||||||||||||||||||||||||||
The Company is made up of three entities in which Energy Edge Technologies Corporation is the parent entity. The Company owned a sixty-five percent interest in The Gourmet Chicken Company during the first quarter 2013, but acquired the remaining thirty-five percent of the stock of The Gourmet Chicken Company as of March 31, 2013. Fifty-one percent of the outstanding stock of Energy Edge Solutions, Inc. is owned by the Company. Energy Edge Solutions, Inc. had no operating activity during the current quarter. | |||||||||||||||||||||||||||||||||
The balance sheet as of March 31, 2014 and December 31, 2013 and the income statement information for the three months ended March 31, 2014 and 2013 of each entity is presented in US Dollars as follows: | |||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
EEDG | TGWC | EES | Total | EEDG | TGCC | EES | Total | ||||||||||||||||||||||||||
Current Assets | 194,985 | — | 195,985 | 300,147 | — | — | 300,147 | ||||||||||||||||||||||||||
Fixed Assets | 2,901 | — | — | 2,901 | 3,329 | — | — | 3,329 | |||||||||||||||||||||||||
Other Assets | 15,254 | 4,194 | — | 19,448 | 9,897 | 4,194 | — | 14,091 | |||||||||||||||||||||||||
Total Assets | 213,140 | 4,194 | 218,334 | 313,373 | 4,194 | — | 317,567 | ||||||||||||||||||||||||||
Current Liabilities | 868295 | 1,600 | 114 | 870,009 | 824,143 | 1,600 | 114 | 825,857 | |||||||||||||||||||||||||
Long Term Liabilities | 65579 | — | — | 65,579 | 64,664 | — | — | 64,664 | |||||||||||||||||||||||||
Intercompany | (385,167 | ) | 385,072 | 95 | — | (379,770 | ) | 379,675 | 95 | — | |||||||||||||||||||||||
Stockholders’ Equity | (335,567 | ) | (382,478 | ) | (1,000 | ) | (718,254 | ) | (193,865 | ) | (378,089 | ) | (1,000 | ) | (572,954 | ) | |||||||||||||||||
Total Liabilities and Stockholder’s Equity | 213,140 | 4,194 | 217,334 | 315,172 | 3,186 | (791 | ) | 317,567 | |||||||||||||||||||||||||
For the Three Months Ended March 31, 2014 | For the Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||
EEDG | TGWC | EES | Total | EEDG | TGCC | EES | Total | ||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | — | $ | — | 2,040 | 200 | 2,240 | ||||||||||||||||||||||
Costs of Revenues | — | — | — | — | (2,471 | ) | (50 | ) | (2,521 | ) | |||||||||||||||||||||||
Gross Profit (Loss) | — | — | — | (431 | ) | 150 | (281 | ) | |||||||||||||||||||||||||
Operating Expenses | (139,270 | ) | (3,397 | ) | — | (142,667 | ) | (114,821 | ) | (144,173 | ) | (258,994 | ) | ||||||||||||||||||||
Other Expenses | (15,037 | ) | — | — | (15,037 | ) | (950 | ) | (950 | ) | |||||||||||||||||||||||
Net Loss before Non-controlling Interest | (154,307 | ) | (3,397 | ) | — | (157,704 | ) | (116,202 | ) | (144,023 | ) | (260,225 | ) | ||||||||||||||||||||
Non-controlling interest | — | — | — | 50,408 | 50,408 | ||||||||||||||||||||||||||||
Net Loss | (154,307 | ) | (3,397 | ) | — | (157,704 | ) | (65,794 | ) | (144,023 | ) | (209,817 | ) | ||||||||||||||||||||
Capital_Stock
Capital Stock | 3 Months Ended | ||
Mar. 31, 2014 | |||
Capital Stock | ' | ||
Capital Stock | ' | ||
NOTE 8 – CAPITAL STOCK | |||
During the three months ended March 31, 2014, the Company: | |||
- | issued 3,000,000 shares of common stock for services. These shares have a fair value of 30,000; and | ||
- | issued 1,400,000 shares of common stock for settlement of payables of $21,558.12. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | '??? |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Summary Of Significant Accounting Policies Policies | ' |
Reclassifications | ' |
Reclassifications | |
Certain accounts and financial statement captions in the prior periods have been reclassified to conform to the current period financial statements. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
Energy Edge 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 flows. |
Prepaid_Expenses_Tables
Prepaid Expenses (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Table Text Block Supplement [Abstract] | ' | ||||||||
Schedule of Prepaid Expenses | ' | ||||||||
Prepaid expenses consisted of the following at March 31, 2014 and December 31, 2013: | |||||||||
31-Mar-14 | December 31, 2013 | ||||||||
Prepaid project expenses | $ | 29,950 | $ | 29,950 | |||||
Prepaid consulting expense | 172,299 | 225.033 | |||||||
Total prepaid expenses | $ | 202,249 | $ | 254,983 |
Convertible_Note_Payable_Table
Convertible Note Payable (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Convertible Note Payable Tables | ' | ||||||||
Schedule of Convertible Note Payable [Table Text Block] | ' | ||||||||
On May 13, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $50,000. | |||||||||
May 13, 2013 | March 31, 2014 | ||||||||
Stock price | $ | 0.0099 | $ | 0.0037 | |||||
Exercise price | $ | 0.009044 | $ | 0.002786 | |||||
Shares issuable upon conversion | 5,528,527 | 13,016,870 | |||||||
Expected dividend yield | 0 | % | 0 | % | |||||
Expected life (years) | 2 | 1.12 | |||||||
Risk-free interest rate | 0.24 | % | 0.44 | % | |||||
Expected volatility | 313.5 | % | 473 | % | |||||
On September 30, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $53,000. | |||||||||
September 30, 2013 | March 31, 2014 | ||||||||
Stock price | $ | 0.0124 | $ | 0.0037 | |||||
Exercise price | $ | 0.007057 | $ | 0.002165 | |||||
Shares issuable upon conversion | 7,510,628 | 24,478,787 | |||||||
Expected dividend yield | 0 | % | 0 | % | |||||
Expected life (years) | 0.75 | 0.25 | |||||||
Risk-free interest rate | 0.07 | % | 0.05 | % | |||||
Expected volatility | 434.42 | % | 473 | % | |||||
On December 31, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $42,500. | |||||||||
December 31, 2013 | March 31, 2014 | ||||||||
Stock price | $ | 0.0077 | $ | 0.0037 | |||||
Exercise price | $ | 0.004331 | $ | 0.002165 | |||||
Shares issuable upon conversion | 9,813,293 | 24,478,787 | |||||||
Expected dividend yield | 0 | % | 0 | % | |||||
Expected life (years) | 0.76 | 0.25 | |||||||
Risk-free interest rate | 0.1 | % | 0.05 | % | |||||
Expected volatility | 441 | % | 473 | % |
Business_Segments_Tables
Business Segments (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||||||||||||||||||||||
The balance sheet as of March 31, 2014 and December 31, 2013 and the income statement information for the three months ended March 31, 2014 and 2013 of each entity is presented in US Dollars as follows: | |||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
EEDG | TGWC | EES | Total | EEDG | TGCC | EES | Total | ||||||||||||||||||||||||||
Current Assets | 194,985 | — | 195,985 | 300,147 | — | — | 300,147 | ||||||||||||||||||||||||||
Fixed Assets | 2,901 | — | — | 2,901 | 3,329 | — | — | 3,329 | |||||||||||||||||||||||||
Other Assets | 15,254 | 4,194 | — | 19,448 | 9,897 | 4,194 | — | 14,091 | |||||||||||||||||||||||||
Total Assets | 213,140 | 4,194 | 218,334 | 313,373 | 4,194 | — | 317,567 | ||||||||||||||||||||||||||
Current Liabilities | 868295 | 1,600 | 114 | 870,009 | 824,143 | 1,600 | 114 | 825,857 | |||||||||||||||||||||||||
Long Term Liabilities | 65579 | — | — | 65,579 | 64,664 | — | — | 64,664 | |||||||||||||||||||||||||
Intercompany | (385,167 | ) | 385,072 | 95 | — | (379,770 | ) | 379,675 | 95 | — | |||||||||||||||||||||||
Stockholders’ Equity | (335,567 | ) | (382,478 | ) | (1,000 | ) | (718,254 | ) | (193,865 | ) | (378,089 | ) | (1,000 | ) | (572,954 | ) | |||||||||||||||||
Total Liabilities and Stockholder’s Equity | 213,140 | 4,194 | 217,334 | 315,172 | 3,186 | (791 | ) | 317,567 | |||||||||||||||||||||||||
For the Three Months Ended March 31, 2014 | For the Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||
EEDG | TGWC | EES | Total | EEDG | TGCC | EES | Total | ||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | — | $ | — | 2,040 | 200 | 2,240 | ||||||||||||||||||||||
Costs of Revenues | — | — | — | — | (2,471 | ) | (50 | ) | (2,521 | ) | |||||||||||||||||||||||
Gross Profit (Loss) | — | — | — | (431 | ) | 150 | (281 | ) | |||||||||||||||||||||||||
Operating Expenses | (139,270 | ) | (3,397 | ) | — | (142,667 | ) | (114,821 | ) | (144,173 | ) | (258,994 | ) | ||||||||||||||||||||
Other Expenses | (15,037 | ) | — | — | (15,037 | ) | (950 | ) | (950 | ) | |||||||||||||||||||||||
Net Loss before Non-controlling Interest | (154,307 | ) | (3,397 | ) | — | (157,704 | ) | (116,202 | ) | (144,023 | ) | (260,225 | ) | ||||||||||||||||||||
Non-controlling interest | — | — | — | 50,408 | 50,408 | ||||||||||||||||||||||||||||
Net Loss | (154,307 | ) | (3,397 | ) | — | (157,704 | ) | (65,794 | ) | (144,023 | ) | (209,817 | ) | ||||||||||||||||||||
Nature_of_Operations_Details_T
Nature of Operations (Details Textuals) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2012 | |
Energy Edge Solutions Inc | ' | ' | ' |
Ownership Percentage acquired by Energy Edge in Subsidiaries (as a percentage) | ' | ' | 51.00% |
The Gourmet Wing Company, Inc | ' | ' | ' |
Ownership Percentage acquired by Energy Edge in Subsidiaries (as a percentage) | ' | 35.00% | 65.00% |
Entity Former Legal or Registered Name | 'The Dry Fried Wing Company | ' | ' |
Date of Change of Former Legal or Registered Name of Entity | 5-Apr-13 | ' | ' |
Prepaid_Expenses_Details
Prepaid Expenses (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Prepaid project expenses | $29,950 | ' | $29,950 |
Other Prepaid Expense, Current | 172,299 | ' | 225,033 |
Prepaid expenses | 202,249 | ' | 254,983 |
Issuance of shares for services, value | 30,000 | ' | ' |
Stock Issued for Business Consulting Service | ' | ' | ' |
Issuance of shares for services, shares | 3,000,000 | ' | ' |
Issuance of shares for services, value | $29,970 | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details Textuals) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Related Party Transactions [Abstract] | ' | ' |
Due to Related Parties | $345,462 | $354,641 |
Convertible_Note_payable_Detai
Convertible Note payable (Details) (USD $) | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | 13-May-13 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Convertible Promissory Note with Principal Amount of $50,000 | Convertible Promissory Note with Principal Amount of $50,000 | Convertible Promissory Note with Principal Amount of $53,000 | Convertible Promissory Note with Principal Amount of $53,000 | Convertible Promissory Note with Principal Amount of $42,500 | Convertible Promissory Note with Principal Amount of $42,500 | ||||
Derivative liability | $57,439 | ' | $57,439 | $53,348 | $47,650 | $88,930 | $74,351 | $72,462 | $67,597 |
Change in fair value of derivative liability recorded as other income | -19,555 | ' | ' | ' | 9,789 | ' | 11,465 | ' | 4,865 |
Stock price (in dollar per share) | ' | ' | ' | $0.01 | $0.00 | $0.01 | $0.00 | $0.01 | $0.00 |
Exercise price (in dollar per share) | ' | ' | ' | $0.01 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 |
Shares issuable upon conversion (in shares) | ' | ' | ' | 5,528,527 | 13,016,870 | 7,510,628 | 24,478,787 | 9,813,293 | 24,478,787 |
Expected dividend yield (as a percentage) | ' | ' | ' | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Expected life (in years) | ' | ' | ' | '2 years | '1 year 1 month 13 days | '9 months | '3 months | '9 months 4 days | '3 months |
Risk-free interest rate (as a percentage) | ' | ' | ' | 0.24% | 0.44% | 0.07% | 0.05% | 0.10% | 0.05% |
Expected volatility (as a percentage) | ' | ' | ' | 313.50% | 473.00% | 434.42% | 473.00% | 441.00% | 473.00% |
Amortization of debt discount on issue of convertible notes payable | ' | ' | ' | ' | 6,250 | ' | 17,667 | ' | 14,167 |
Unamortizied discount on issue of convertible notes payable | ' | ' | ' | $50,000 | $28,125 | $53,000 | $17,667 | $42,500 | $28,333 |
Convertible_Note_payable_Detai1
Convertible Note payable (Details Textuals) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Convertible Promissory Note with Principal Amount of $50,000 | ' |
Date of Issuance of convertible promissory note to third party | 13-May-13 |
Principal amount of convertible promissory note issued | $50,000 |
Maturity date of promissory note | 14-May-15 |
Interest on promissory note issued (as a percentage) | 6.00% |
Convertible, Type of Equity Security to be issued | 'Common Stock |
Conversion Ratio of debt into common stock (as a percentage) of debt | 0.7 |
Outstanding balance of Creditor converted to Common Stock | 5,335 |
Shares issued upon conversion of debt | 2,530,612 |
Convertible Promissory Note with Principal Amount of $53,000 | ' |
Date of Issuance of convertible promissory note to third party | 30-Sep-13 |
Principal amount of convertible promissory note issued | 53,000 |
Maturity date of promissory note | 24-Jun-14 |
Interest on promissory note issued (as a percentage) | 8.00% |
Convertible, Type of Equity Security to be issued | 'Common Stock |
Conversion Ratio of debt into common stock (as a percentage) of debt | 0.58 |
Convertible Promissory Note with Principal Amount of $42,500 | ' |
Date of Issuance of convertible promissory note to third party | 31-Dec-13 |
Principal amount of convertible promissory note issued | $42,500 |
Maturity date of promissory note | 3-Oct-14 |
Interest on promissory note issued (as a percentage) | 8.00% |
Convertible, Type of Equity Security to be issued | 'Common Stock |
Conversion Ratio of debt into common stock (as a percentage) of debt | 0.58 |
Business_Segments_Details
Business Segments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Total Current Assets | $195,985 | $300,147 |
Fixed Assets | ' | 3,329 |
Other Assets | 19,449 | 14,091 |
TOTAL ASSETS | 218,335 | 317,567 |
Current Liabilities | 870,519 | 825,857 |
Long Term Liabilities | ' | 64,664 |
Total Equity (Deficit) | -717,763 | -569,954 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | 218,335 | 317,567 |
Energy Edge (EEDG) | ' | ' |
Total Current Assets | ' | 300,147 |
Fixed Assets | ' | 3,329 |
Other Assets | ' | 9,897 |
TOTAL ASSETS | ' | 313,373 |
Current Liabilities | ' | 824,143 |
Long Term Liabilities | ' | 64,664 |
Intercompany | ' | -379,770 |
Total Equity (Deficit) | ' | -195,664 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ' | 313,373 |
The Gourmet Chicken Company, Inc. ("TGCC") | ' | ' |
Other Assets | ' | 4,194 |
TOTAL ASSETS | ' | 4,194 |
Current Liabilities | ' | 1,600 |
Intercompany | ' | 379,675 |
Total Equity (Deficit) | ' | -377,081 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ' | 4,194 |
Energy Edge Solutions (EES) | ' | ' |
Current Liabilities | ' | 114 |
Intercompany | ' | 95 |
Total Equity (Deficit) | ' | ($209) |
Business_Segments_Details_2
Business Segments (Details 2) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Gross Profit (Loss) | ' | ($281) |
Operating Expenses | -136,103 | -258,994 |
Other Expenses | -21,601 | -950 |
Net Loss before non-controlling interest | -1,021,443 | -1,021,443 |
Non-controlling interest | ' | 50,408 |
Net Loss | ($157,704) | ($209,817) |