Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 24, 2014 | Jun. 28, 2013 | |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Trading Symbol | 'golu | ' | ' |
Entity Registrant Name | 'GOLD UNION INC. | ' | ' |
Entity Central Index Key | '0001500122 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 163,134,500 | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well Known Seasoned Issuer | 'No | ' | ' |
Entity Public Float | ' | ' | $1,828,125 |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Balance_Sheets
Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash | $525 | $342 |
Total Current Assets | 525 | 342 |
Total assets | 525 | 342 |
Current liabilities: | ' | ' |
Accounts payable and accrued expenses | 28,930 | 15,315 |
Advances from stockholders | 18,500 | 106,594 |
Total current liabilities | 47,430 | 121,909 |
Total liabilities | 47,430 | 121,909 |
Stockholders' deficit: | ' | ' |
Common stock par value $0.0001: 3,000,000,000 shares authorized; 163,134,500 and 82,500,000 shares issued and outstanding, respectively | 16,313 | 8,250 |
Additional paid-in capital | 200,256 | 47,050 |
Deficit accumulated during the development stage | -263,474 | -176,867 |
Total stockholders' deficit | -46,905 | -121,567 |
Total liabilities and stockholders' deficit | $525 | $342 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 3,000,000,000 | 3,000,000,000 |
Common stock, shares issued | 163,134,500 | 82,500,000 |
Common stock, shares outstanding | 163,134,500 | 82,500,000 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 42 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Revenues earned during the development stage | $0 | $0 | $0 |
Operating expenses: | ' | ' | ' |
Patent acquisition cost and expenses | 0 | 0 | 19,213 |
Professional fees | 85,592 | 87,098 | 242,461 |
General and administrative expenses | 597 | 549 | 4,958 |
Total operating expenses | 86,189 | 87,647 | 266,632 |
Loss from operations | -86,189 | -87,647 | -266,632 |
Other (income) expense: | ' | ' | ' |
Foreign currency transactions (gain) loss | 418 | -703 | -3,158 |
Other (income) expense, net | 418 | -703 | -3,158 |
Loss before income tax provision | -86,607 | -86,944 | -263,474 |
Income tax provision | 0 | 0 | 0 |
Net loss | ($86,607) | ($86,944) | ($263,474) |
Net loss per common share | ' | ' | ' |
- Basic and diluted: | $ 0 | $0 | ' |
Weighted average common shares outstanding | ' | ' | ' |
- Basic and diluted | 98,844,613 | 82,500,000 | ' |
Statement_of_Stockholders_Equi
Statement of Stockholders' Equity (Deficit) (USD $) | Common Stock [Member] | Additional Paid-In Capital [Member] | (Deficit) Accumulated During the Development Stage [Member] | Total |
Beginning Balance at Jul. 06, 2010 | ' | ' | ' | ' |
Issuance of common shares for cash upon formation | $4,500 | ($4,200) | ' | $300 |
Issuance of common shares for cash upon formation (Shares) | 45,000,000 | ' | ' | ' |
Net loss | ' | ' | -30,203 | -30,203 |
Ending Balance at Dec. 31, 2010 | 4,500 | -4,200 | -30,203 | -29,903 |
Ending Balance (Shares) at Dec. 31, 2010 | 45,000,000 | ' | ' | ' |
Issuance of common shares for cash at $0.002 per share on June 16, 2011 | 3,750 | 71,250 | ' | 75,000 |
Issuance of common shares for cash at $0.002 per share on June 16, 2011 (Shares) | 37,500,000 | ' | ' | ' |
Issuance costs | ' | -20,000 | ' | -20,000 |
Net loss | ' | ' | -59,720 | -59,720 |
Ending Balance at Dec. 31, 2011 | 8,250 | 47,050 | -89,923 | -34,623 |
Ending Balance (Shares) at Dec. 31, 2011 | 82,500,000 | ' | ' | ' |
Net loss | ' | ' | -86,944 | -86,944 |
Ending Balance at Dec. 31, 2012 | 8,250 | 47,050 | -176,867 | -121,567 |
Beginning Balance (Shares) at Dec. 31, 2012 | 82,500,000 | ' | ' | ' |
Issuance of common shares for debt at $0.002 per share on October 18, 2013 | 8,063 | 153,206 | ' | 161,269 |
Issuance of common shares for debt at $0.002 per share on October 18, 2013 (Shares) | 80,634,500 | ' | ' | ' |
Net loss | ' | ' | -86,607 | -86,607 |
Ending Balance at Dec. 31, 2013 | $16,313 | $200,256 | ($263,474) | ($46,905) |
Ending Balance (Shares) at Dec. 31, 2013 | 163,134,500 | ' | ' | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 42 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Cash flows from operating activities: | ' | ' | ' |
Net loss | ($86,607) | ($86,944) | ($263,474) |
Changes in operating assets and liabilities: | ' | ' | ' |
Accrued expenses | 13,615 | -1,095 | 28,930 |
Net cash used in operating activities | -72,992 | -88,039 | -234,544 |
Cash flows from financing activities: | ' | ' | ' |
Advances from stockholders | 73,175 | 78,390 | 179,769 |
Proceeds from sale of common stock, net | 0 | 0 | 55,300 |
Net cash provided by financing activities | 73,175 | 78,390 | 235,069 |
Net change in cash | 183 | -9,649 | 525 |
Cash at beginning of period | 342 | 9,991 | 0 |
Cash at end of period | 525 | 342 | 525 |
Supplemental disclosure of cash flows information: | ' | ' | ' |
Interest paid | 0 | 0 | 0 |
Income tax paid | 0 | 0 | 0 |
Non-cash investing and financing activities: | ' | ' | ' |
Stock issued for debt | $161,269 | $0 | $161,269 |
Organization_and_Operations
Organization and Operations | 12 Months Ended |
Dec. 31, 2013 | |
Organization and Operations [Text Block] | ' |
Note 1 – Organization and Operations | |
Advanced Ventures Corp. | |
Advanced Ventures Corp. (the “Advanced Ventures”) was incorporated under the laws of the State of Delaware on July 6, 2010. The Company has revised its business plan to trade in precious metal bullion primarily in the Asia Pacific region. | |
Effective January 6, 2014, Advanced Ventures Corp. effected a name change to Gold Union Inc. (the “Company”) to more adequately reflect its intended business operations, which is expected to be the trading of precious metal bullion primarily in the Asia Pacific region. | |
Formation of Advanced Ventures (HK) Ltd. | |
On March 27, 2012, the Company formed a wholly-owned subsidiary, Advanced Ventures (HK) Ltd., under the laws of the Hong Kong Special Administrative Region (“HK SAR”) of the People’s Republic of China (“PRC”). Advanced Ventures (HK) Ltd. engaged in the same line of business as that of the Company. On November 1, 2013 the Company dissolved Advanced Ventures (HK) Ltd. Advanced Ventures (HK) Ltd. which was inactive during its existence. | |
Certificate of Amendment of Certificate of Incorporation | |
On February 21, 2012, the Company filed a certificate of amendment of certificate of incorporation to increase the amount of authorized common shares from 200,000,000 to 3,000,000,000 and to effectuate a forward stock split of the issued and outstanding common shares of the Company on a basis of 15 for 1 effective as of March 7, 2012. | |
All shares and per share amounts in the financial statements have been adjusted to give retroactive effect to the Stock Split. |
Significant_and_Critical_Accou
Significant and Critical Accounting Policies and Practices | 12 Months Ended | |
Dec. 31, 2013 | ||
Significant and Critical Accounting Policies and Practices [Text Block] | ' | |
Note 2 – Significant and Critical Accounting Policies and Practices | ||
The Management of the Company is responsible for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company’s significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles. | ||
Basis of Presentation | ||
The financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | ||
Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions | ||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s). | ||
Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company’s critical accounting estimates and assumptions affecting the financial statements were: | ||
(i) | Assumption as a going concern : Management assumes that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. | |
(ii) | Valuation allowance for deferred tax assets : Management assumes that the realization of the Company’s net deferred tax assets resulting from its net operating loss (“NOL”) carry–forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by a full valuation allowance. Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, and (c) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors. | |
These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. | ||
Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. | ||
Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. | ||
Actual results could differ from those estimates. | ||
Development Stage Company | ||
The Company was a development stage company as defined by section 915-10-20 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification. The Company is still devoting substantially all of its efforts on establishing the business and, therefore, qualifies as a development stage company. All losses accumulated from July 6, 2010 (inception) have been considered as part of the Company’s development stage activities. | ||
Fair Value of Financial Instruments | ||
The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: | ||
Level 1 | Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. | |
Level 2 | Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. | |
Level 3 | Pricing inputs that are generally observable inputs and not corroborated by market data. | |
Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. | ||
The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. | ||
The carrying amounts of the Company’s financial assets and liabilities, such as cash and accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. | ||
Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated. | ||
Cash Equivalents | ||
The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. | ||
Related Parties | ||
The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. | ||
Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. | ||
The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. | ||
Commitments and Contingencies | ||
The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. | ||
If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. | ||
Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. | ||
Revenue Recognition | ||
The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. | ||
Income Tax Provision | ||
The Company adopted the provisions of paragraph 740-10-25-13 of the FASB Accounting Standards Codification. Paragraph 740-10-25-13.addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under paragraph 740-10-25-13, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent ( 50%) likelihood of being realized upon ultimate settlement. Paragraph 740-10-25-13 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of paragraph 740-10-25-13. | ||
The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. | ||
Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. | ||
Uncertain Tax Positions | ||
The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the provisions of Section740-10-25 for the year ended December 31, 2013 or 2012. | ||
Net Income (Loss) per Common Share | ||
Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangement, stock options or warrants. | ||
There were no potentially outstanding dilutive shares for the year ended December 31, 2013 or 2012. | ||
Cash Flows Reporting | ||
The Company adopted paragraph 230-10-45-24 of the FASB Accounting Standards Codification for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by paragraph 230-10-45-25 of the FASB Accounting Standards Codification to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period pursuant to paragraph 830-230-45-1 of the FASB Accounting Standards Codification. | ||
Subsequent Events | ||
The Company follows the guidance in Section855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. | ||
Recently Issued Accounting Pronouncements | ||
In February 2013, the FASB issued ASU No. 2013-02, " Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. " The ASU adds new disclosure requirements for items reclassified out of accumulated other comprehensive income by component and their corresponding effect on net income. The ASU is effective for public entities for fiscal years beginning after December 15, 2013. | ||
In February 2013, the Financial Accounting Standards Board, or FASB, issued ASU No. 2013-04, " Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for which the Total Amount of the Obligation Is Fixed at the Reporting Date ." This ASU addresses the recognition, measurement, and disclosure of certain obligations resulting from joint and several arrangements including debt arrangements, other contractual obligations, and settled litigation and judicial rulings. The ASU is effective for public entities for fiscal years, and interim periods within those years, beginning after December 15, 2013. | ||
In March 2013, the FASB issued ASU No. 2013-05, " Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity ." This ASU addresses the accounting for the cumulative translation adjustment when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The guidance outlines the events when cumulative translation adjustments should be released into net income and is intended by FASB to eliminate some disparity in current accounting practice. This ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. | ||
In March 2013, the FASB issued ASU 2013-07, “Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting.” The amendments require an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent. Liquidation is imminent when the likelihood is remote that the entity will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy). If a plan for liquidation was specified in the entity’s governing documents from the entity’s inception (for example, limited-life entities), the entity should apply the liquidation basis of accounting only if the approved plan for liquidation differs from the plan for liquidation that was specified at the entity’s inception. The amendments require financial statements prepared using the liquidation basis of accounting to present relevant information about an entity’s expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation. The entity should include in its presentation of assets any items it had not previously recognized under U.S. GAAP but that it expects to either sell in liquidation or use in settling liabilities (for example, trademarks). The amendments are effective for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. Entities should apply the requirements prospectively from the day that liquidation becomes imminent. Early adoption is permitted. | ||
Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements. |
Going_Concern
Going Concern | 12 Months Ended |
Dec. 31, 2013 | |
Going Concern [Text Block] | ' |
Note 3 – Going Concern | |
The financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. | |
As reflected in the financial statements, the Company had a deficit accumulated during the development stage at December 31, 2013, a net loss and net cash used in operating activities for the reporting period then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern. | |
The Company is attempting to commence operations and generate sufficient revenue; however, its cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds by way of a public or private offering, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Text Block] | ' |
Note 4 – Related Party Transactions | |
Advances from Stockholders | |
From time to time, stockholders of the Company advance funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and due on demand. | |
Free Office Space from its Majority Stockholder and Chief Executive Officer | |
The Company has been provided office space by its majority stockholder at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statements. |
Stockholders_Deficit
Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Deficit [Text Block] | ' |
Note 5 – Stockholders’ Deficit | |
Shares Authorized | |
Upon formation the total number of shares of common stock which the Company is authorized to issue is Two Hundred Million (200,000,000) shares, par value $.0001 per share. | |
Certificate of Amendment of Certificate of Incorporation | |
On February 21, 2012, the Company filed a certificate of amendment of certificate of incorporation to increase the amount of authorized common shares from 200,000,000 to 3,000,000,000 and to effectuate a 15 for 1 forward stock split of the issued and outstanding common shares of the Company to be effective as of March 7, 2012. | |
All shares and per share amounts in the financial statements have been adjusted to give retroactive effect to the Stock Split. | |
Common Stock | |
Upon formation the Company issued 45,000,000 shares of its common stock to the Directors and Officers of the Company for $300 in cash. | |
The Company commenced a capital formation activity by filing a Registration Statement on Form S-1 with the SEC to register and sell in a self-directed offering 37,500,000 shares of its common stock for gross proceeds of up to $75,000. The Registration Statement was declared effective on May 10, 2011. On June 16, 2011, the Company issued 37,500,000 shares of its common stock pursuant to the Registration Statement for gross proceeds of $75,000. Offering costs of $20,000 related to this capital formation activity were charged against the capital raised. | |
On October 18, 2013, the Company completed a shares-for-debt private placement with 10 individuals involving the sale of an aggregate of 80,634,500 shares of the Company’s common stock, in settlement of an aggregate of $161,269 owed by the Company to the shares-for-debt purchasers. |
Income_Tax_Provision
Income Tax Provision | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Income Tax Provision [Text Block] | ' | ||||||
Note 6 – Income Tax Provision | |||||||
The Company is subject to the United States of America income taxes. | |||||||
United States Income Tax | |||||||
The Company is incorporated in the State of Delaware and is subjected to United States of America tax law. | |||||||
Deferred Tax Assets | |||||||
At December 31, 2013, the Company has available for federal income tax purposes a net operating loss (“NOL”) carry-forwards of $263,474 that may be used to offset future taxable income through the fiscal year ending December 31, 2033. No tax benefit has been reported with respect to these net operating loss carry-forwards in the accompanying financial statements since the Company believes that the realization of its net deferred tax asset of approximately $89,581 was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation allowance. | |||||||
Deferred tax assets consist primarily of the tax effect of NOL carry-forwards. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization. The valuation allowance increased approximately $29,510 and $29,497 for the year ended December 31, 2013 and 2012, respectively. | |||||||
Components of deferred tax assets are as follows: | |||||||
31-Dec-13 | 31-Dec-12 | ||||||
Net deferred tax assets – Non-current: | |||||||
Expected income tax benefit from NOL carry-forwards | $ | 89,581 | $ | 60,071 | |||
Less valuation allowance | (89,581 | ) | (60,071 | ) | |||
Deferred tax assets, net of valuation allowance | $ | - | $ | - | |||
Income Tax Provision in the Consolidated Statements of Operations | |||||||
A reconciliation of the federal statutory income tax rate and the effective income tax rate as a percentage of income before income taxes is as follows: | |||||||
For the Year | For the Year | ||||||
Ended | Ended | ||||||
December 31, | December 31, | ||||||
2013 | 2012 | ||||||
Federal statutory income tax rate | 34.00% | 34.00% | |||||
Change in valuation allowance on net operating loss carry-forwards | (34.0 | ) | (34.0 | ) | |||
Effective income tax rate | 0.00% | 0.00% |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Text Block] | ' |
Note 7 – Subsequent Events | |
The Company has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. The Management of the Company determined that there were no reportable subsequent event(s) to be disclosed. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Basis of Presentation [Policy Text Block] | ' | |
Basis of Presentation | ||
The financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | ||
Development Stage Company [Policy Text Block] | ' | |
Development Stage Company | ||
The Company was a development stage company as defined by section 915-10-20 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification. The Company is still devoting substantially all of its efforts on establishing the business and, therefore, qualifies as a development stage company. All losses accumulated from July 6, 2010 (inception) have been considered as part of the Company’s development stage activities. | ||
Fair Value of Financial Instruments [Policy Text Block] | ' | |
Fair Value of Financial Instruments | ||
The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: | ||
Level 1 | Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. | |
Level 2 | Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. | |
Level 3 | Pricing inputs that are generally observable inputs and not corroborated by market data. | |
Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. | ||
The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. | ||
The carrying amounts of the Company’s financial assets and liabilities, such as cash and accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. | ||
Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated. | ||
Use of Estimates and Assumptions [Policy Text Block] | ' | |
Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions | ||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s). | ||
Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company’s critical accounting estimates and assumptions affecting the financial statements were: | ||
(i) | Assumption as a going concern : Management assumes that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. | |
(ii) | Valuation allowance for deferred tax assets : Management assumes that the realization of the Company’s net deferred tax assets resulting from its net operating loss (“NOL”) carry–forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by a full valuation allowance. Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, and (c) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors. | |
Cash Equivalents [Policy Text Block] | ' | |
Cash Equivalents | ||
The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. | ||
Related Parties [Policy Text Block] | ' | |
Related Parties | ||
The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. | ||
Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. | ||
The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. | ||
Commitments and Contingencies [Policy Text Block] | ' | |
Commitments and Contingencies | ||
The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. | ||
If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. | ||
Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. | ||
Revenue Recognition [Policy Text Block] | ' | |
Revenue Recognition | ||
The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. | ||
Income Tax Provision [Policy Text Block] | ' | |
Income Tax Provision | ||
The Company adopted the provisions of paragraph 740-10-25-13 of the FASB Accounting Standards Codification. Paragraph 740-10-25-13.addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under paragraph 740-10-25-13, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent ( 50%) likelihood of being realized upon ultimate settlement. Paragraph 740-10-25-13 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of paragraph 740-10-25-13. | ||
The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. | ||
Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. | ||
Uncertain Tax Positions [Policy Text Block] | ' | |
Uncertain Tax Positions | ||
The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the provisions of Section740-10-25 for the year ended December 31, 2013 or 2012. | ||
Net Income (Loss) per Common Share [Policy Text Block] | ' | |
Net Income (Loss) per Common Share | ||
Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangement, stock options or warrants. | ||
There were no potentially outstanding dilutive shares for the year ended December 31, 2013 or 2012. | ||
Subsequent Events [Policy Text Block] | ' | |
Subsequent Events | ||
The Company follows the guidance in Section855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. | ||
Cash Flows Reporting [Policy Text Block] | ' | |
Cash Flows Reporting | ||
The Company adopted paragraph 230-10-45-24 of the FASB Accounting Standards Codification for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by paragraph 230-10-45-25 of the FASB Accounting Standards Codification to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period pursuant to paragraph 830-230-45-1 of the FASB Accounting Standards Codification. | ||
Recent Accounting Pronouncements [Policy Text Block] | ' | |
Recently Issued Accounting Pronouncements | ||
In February 2013, the FASB issued ASU No. 2013-02, " Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. " The ASU adds new disclosure requirements for items reclassified out of accumulated other comprehensive income by component and their corresponding effect on net income. The ASU is effective for public entities for fiscal years beginning after December 15, 2013. |
Income_Tax_Provision_Tables
Income Tax Provision (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Schedule of Deferred Income Tax Assets [Table Text Block] | ' | ||||||
31-Dec-13 | 31-Dec-12 | ||||||
Net deferred tax assets – Non-current: | |||||||
Expected income tax benefit from NOL carry-forwards | $ | 89,581 | $ | 60,071 | |||
Less valuation allowance | (89,581 | ) | (60,071 | ) | |||
Deferred tax assets, net of valuation allowance | $ | - | $ | - | |||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||
For the Year | For the Year | ||||||
Ended | Ended | ||||||
December 31, | December 31, | ||||||
2013 | 2012 | ||||||
Federal statutory income tax rate | 34.00% | 34.00% | |||||
Change in valuation allowance on net operating loss carry-forwards | (34.0 | ) | (34.0 | ) | |||
Effective income tax rate | 0.00% | 0.00% |
Organization_and_Operations_Na
Organization and Operations (Narrative) (Details) | 10 Months Ended | |||
Dec. 31, 2012 | Dec. 31, 2013 | Feb. 21, 2012 | Feb. 20, 2012 | |
Common Stock, shares authorized | 3,000,000,000 | 3,000,000,000 | 3,000,000,000 | 200,000,000 |
Stock split conversion ratio | 15 | ' | ' | ' |
Significant_and_Critical_Accou1
Significant and Critical Accounting Policies and Practices (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Likelihood of realization | 50.00% |
Stockholders_Deficit_Narrative
Stockholders' Deficit (Narrative) (Details) (USD $) | 10 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | ||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Feb. 21, 2012 | Feb. 20, 2012 | Oct. 18, 2013 | Dec. 31, 2010 | Jun. 16, 2011 | |
Private Placement [Member] | Issuance of 45,000,000 common stock to Directors and officers [Member] | Issuance of 37,500,000 common stock for cash [Member] | ||||||
Common Stock, shares authorized | 3,000,000,000 | ' | 3,000,000,000 | 3,000,000,000 | 200,000,000 | ' | ' | ' |
Common Stock, par or stated value per share | $0.00 | ' | $0.00 | ' | ' | ' | ' | ' |
Common stock issued for cash | ' | ' | ' | ' | ' | ' | 45,000,000 | 37,500,000 |
Common stock issued amount | ' | ' | ' | ' | ' | ' | $300 | $75,000 |
Offering costs paid | ' | 20,000 | ' | ' | ' | ' | ' | 20,000 |
Stock split conversion ratio | 15 | ' | ' | ' | ' | ' | ' | ' |
Number of individuals involved in Private Placement | ' | ' | ' | ' | ' | 10 | ' | ' |
Proceeds from issuance of Private Placement | ' | ' | ' | ' | ' | $161,269 | ' | ' |
Common Stock, shares, issued | 82,500,000 | ' | 163,134,500 | ' | ' | 80,634,500 | ' | ' |
Income_Tax_Provision_Narrative
Income Tax Provision (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Deferred Tax Assets, Net, Total | $0 | $0 |
Statutory income tax rate | 34.00% | 34.00% |
United States Income Tax [Member] | ' | ' |
Tax loss carryforwards | 263,474 | ' |
Deferred Tax Assets, Net, Total | 89,581 | ' |
Increase in valuation allowance | $29,510 | $29,497 |
Schedule_of_Deferred_Income_Ta
Schedule of Deferred Income Tax Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Expected income tax benefit from NOL carry-forwards | $89,581 | $60,071 |
Less valuation allowance | -89,581 | -60,071 |
Deferred tax assets, net of valuation allowance | $0 | $0 |
Schedule_of_Effective_Income_T
Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Federal statutory income tax rate | 34.00% | 34.00% |
Change in valuation allowance on net operating loss carry-forwards | -34.00% | -34.00% |
Effective income tax rate | 0.00% | 0.00% |