Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Document and Entity Information: | ' |
EntityRegistrantName | 'Bnet Media Group, Inc. |
DocumentType | '10-Q |
DocumentPeriodEndDate | 30-Sep-14 |
AmendmentFlag | 'false |
EntityCentralIndexKey | '0001501268 |
CurrentFiscalYearEndDate | '--12-31 |
EntityCommonStockSharesOutstanding | 16,208,000 |
EntityPublicFloat | $16,208,000 |
EntityFilerCategory | 'Non-accelerated Filer |
EntityCurrentReportingStatus | 'No |
EntityVoluntaryFilers | 'No |
EntityWellKnownSeasonedIssuer | 'No |
DocumentFiscalYearFocus | '2014 |
DocumentFiscalPeriodFocus | 'Q3 |
Balance_Sheets
Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
ASSETS | ' | ' |
Cash | $580 | $529 |
Total Current Assets | 580 | 529 |
Other Assets | 18,866 | ' |
TOTAL ASSETS | 19,446 | 529 |
Accounts payable | 68,240 | 48,667 |
Accounts payable - related parties | 47,710 | 39,132 |
Total Current Liabilities | 115,950 | 87,799 |
Preferred stock: $0.001 par value, 100,000,000 shares authorized, 7,787,000 and no shares issued and outstanding, respectively | 7,787 | 7,787 |
Preferred stock series B: $0.001 par value, 20,000,000 shares authorized, 8,021,796 and -0- shares issued and outstanding, respectively | 8,022 | ' |
Common stock: $0.001 par value, 800,000,000 shares authorized, 16,208,000 shares issued and outstanding | 16,208 | 16,208 |
Additional paid-in capital | 118,636 | 107,792 |
Accumulated deficit | -247,157 | -219,057 |
Total Stockholders' Deficit | -96,504 | -87,270 |
TOTAL LIABILITIES AND STOCKHOLDERS'DEFICIT | $19,446 | $529 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
OPERATING EXPENSES | ' | ' | ' | ' |
Professional fees | $7,978 | $11,842 | $27,900 | $47,218 |
General and administrative | 42 | 56 | 200 | 3,448 |
Total Operating Expenses | 8,020 | 11,898 | 28,100 | 50,666 |
LOSS FROM OPERATIONS | -8,020 | -11,898 | -28,100 | -50,666 |
PROFIT (LOSS) | ($8,020) | ($11,898) | ($28,100) | ($50,666) |
BASIC AND DILUTED LOSS PER COMMON SHARE | $0 | $0 | $0 | $0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 16,208,000 | 87,859,810 | 16,208,000 | 87,859,810 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net loss | ($28,100) | ($50,666) |
Accounts payable | 19,573 | 5,219 |
Accounts payable - related parties | 4,578 | 37,632 |
Net Cash Used in Operating Activities | -3,949 | -7,815 |
Related party advances | 4,000 | ' |
Preferred stock issued for cash | ' | 7,787 |
Net Cash Provided by Financing Activities | 4,000 | 7,787 |
NET INCREASE (DECREASE) IN CASH | 51 | -28 |
CASH AT BEGINNING OF PERIOD | 529 | 534 |
CASH AT END OF PERIOD | 580 | 506 |
Preferred stock issued to acquire assets | $18,866 | ' |
Cancellation of common shares | ' | 124,592 |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Note 1 - Basis of Presentation | ' |
NOTE 1 - BASIS OF PRESENTATION | |
The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2014 and for all periods presented herein, have been made. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2013 audited financial statements contained in the Company’s annual report on Form 10-K and any amendment thereto. The results of operations for the period ended September 30, 2014 are not necessarily indicative of the operating results for the full year. | |
The Company has limited operations and is considered to be in the development stage. During the quarter ended September 30, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the company to remove the inception to date information and all references to development stage. | |
Note_2_Going_Concern
Note 2 - Going Concern | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Note 2 - Going Concern | ' |
NOTE 2 - GOING CONCERN | |
The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. | |
In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. | |
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. | |
Note_3_Related_Party
Note 3- Related Party | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Note 3- Related Party | ' |
NOTE 3- RELATED PARTY | |
As of September 30, 2014 the Company is indebted to a related party for the amount of $47,710. This amount is unsecured, non-interest bearing, and due on demand. |
Note_4_Stockholders_Equity
Note 4- Stockholders Equity | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Note 4- Stockholders Equity | ' |
NOTE 4- STOCKHOLDERS EQUITY | |
Issuance of Series B Convertible Preferred Stock to Acquire Certain Assets | |
Effective April 8, 2014, the Company entered into an Asset Purchase Agreements (the “Agreement”) with a non-affiliate to issue 8,021,796 shares of the Company’s Series B Convertible Preferred Stock (the “Series B Convertible Preferred Stock”) in exchange for certain precious stones known as the “Ruby Art Carvings” (the “Assets”). The Series B Convertible Preferred Stock is convertible into an equivalent number of shares of the Company’s common stock at a conversion price of $40.00 per share. Currently, there is no trading market for the Series B Convertible | |
Preferred Stock for purposes of valuing the securities issued in exchange for the Assets. Nor is there a trading market for the Company’s common stock that would be issued in the event of conversion of the Series B Convertible Preferred Stock. For purposes of financial statement presentation, the Company has established the fair value of the Series B Convertible Preferred Stock issued in exchange for the Assets using an enterprise valuation of $350,000 at September 30, 2014. Using this value, the Company assigned a value of $18,866 to the Assets. | |
The Company made the offer and sale of the securities described above pursuant to an exempt from the registration requirements of the Securities Act of 1933, as amended, for the private placement of these securities pursuant to Section 4(2) of thereunder. |
Note_5_Subsequent_Event
Note 5- Subsequent Event | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Note 5- Subsequent Event | ' |
NOTE 5- SUBSEQUENT EVENT | |
In accordance with ASC 855-10 Company management reviewed all material events through the filing date of this report and determined that there are no material subsequent events to report. |