Document and Entity Information
Document and Entity Information - Jun. 30, 2015 - USD ($) | Total |
Document and Entity Information: | |
Entity Registrant Name | Bnet Media Group, Inc. |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2015 |
Amendment Flag | false |
Entity Central Index Key | 1,501,268 |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 35,015,000 |
Entity Public Float | $ 35,015,000 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | No |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q2 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
CURRENT ASSETS | ||
Cash | $ 2,538 | $ 529 |
Total Current Assets | 2,538 | 529 |
Other Assets | 18,866 | 18,866 |
TOTAL ASSETS | 21,404 | 19,462 |
CURRENT LIABILITIES | ||
Accounts payable | 87,138 | 73,550 |
Customer Deposits | 3,000 | |
Accounts payable - related parties | 100 | 48,268 |
Total Current Liabilities | 90,238 | 121,818 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Preferred stock Series A: $0.001 par value, 100,000,000 shares authorized, 13,587,000 and -0- shares issued and outstanding, respectively | 13,587 | 7,787 |
Preferred stock Series B: .001 par value, 20,000,000 shares authorized, 8,021,796 and -0- shares issued and outstanding respectively | 8,022 | 8,022 |
Common stock: $0.001 par value, 800,000,000 shares authorized, 21,428,000 and 16,208,000 shares issued and outstanding, respectively | 21,428 | 16,208 |
Additional paid-in capital | 165,616 | 118,636 |
Deficit accumulated during the development stage | (277,487) | (253,009) |
Total Stockholders' Deficit | (68,834) | (102,356) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 21,404 | $ 19,462 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
OPERATING EXPENSES | ||||
Professional fees | $ 15,325 | $ 7,410 | $ 21,410 | $ 19,923 |
General and administrative | 1,643 | 42 | 3,068 | 157 |
Total Operating Expenses | 16,968 | 7,452 | 24,478 | 20,080 |
LOSS FROM OPERATIONS | (16,968) | (7,452) | (24,478) | (20,080) |
NET INCOME LOSS | $ (16,968) | $ (7,452) | $ (24,478) | $ (20,080) |
BASIC AND DILUTED LOSS PER COMMON SHARE | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 20,969,099 | 16,208,000 | 18,601,702 | 16,208,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Profit (loss) | $ (24,478) | $ (20,080) |
Changes in operating assets and liabilities: | ||
Customer deposits | 3,000 | |
Accounts payable | 13,588 | 19,173 |
Accounts payable - related parties | 9,832 | 1,000 |
Net Cash Used in Operating Activities | 1,942 | 93 |
NET INCREASE (DECREASE) IN CASH | 1,942 | 93 |
CASH AT BEGINNING OF PERIOD | 596 | 534 |
CASH AT END OF PERIOD | 2,538 | 627 |
NON CASH FINANCING ACTIVITIES: | ||
Preferred stock issued for other investment | $ 18,866 | |
Preferred stock -"Series A" issued for debt - related party | 5,800 | |
Common stock issued for debt - related party | $ 52,200 |
Note 1 - Condensed Consolidated
Note 1 - Condensed Consolidated Financial Statements | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Note 1 - Condensed Consolidated Financial Statements | NOTE 1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying condensed consolidated 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 June 30, 2015, 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 condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's December 31, 2014 audited consolidated financial statements. The results of operations for the periods ended June 30, 2015 and 2014 are not necessarily indicative of the operating results for the full years. |
Note 2 - Going Concern
Note 2 - Going Concern | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Note 2 - Going Concern | NOTE 2 - GOING CONCERN The Company's consolidated 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 - Significant Accounting
Note 3 - Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Note 3 - Significant Accounting Policies | NOTE 3 SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Companys financial position, or statements. |
Note 4- Related Party
Note 4- Related Party | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Note 4- Related Party | NOTE 4- RELATED PARTY As of June 30, 2015, the Company is indebted to a related party for the amount of $100. This amount is unsecured, non-interest bearing, and due on demand. On April 8, 2015, our board approved the issuance of the following securities in satisfaction of $58,000 of debt as follows: (1) 5,800,000 shares of Series A Non-convertible Preferred Stock at a price of $0.001 per share, for a total of $5,800; and (2) 5,220,000 shares of common stock at a price of $0.01 per shares for a total of $52,200. The securities were issued to our Chief Executive Officer, Gerald Sklar in lieu of cash as full payment for $58,000 in funds advanced to pay the registrations operations expenses, Arnold Sopzek, one of our directors. Our securities were issued in reliance on an exemption from registration available under Section 4(2) of the Securities Act of 1933, as amended. On April 8, 2015, our directors approved the appointment of Robert Nickolas Jones, our Chief Financial Officer, to serve as our secretary and treasurer and to fill the vacancy created by the death of David M. Young, a director who was also serving as our secretary. Mr. Jones was appointed to serve as the secretary and treasurer until the next annual meeting and until such time as his successor is duly appointed. |
Note 5 - Subsequent Events
Note 5 - Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Note 5 - Subsequent Events | NOTE 5 SUBSEQUENT EVENTS On July 20, 2015, the Companys board of directors approved the issuance of 40,000 shares of the Companys securities in satisfaction of $40,000 of debt as follows: (1) 6,413,000 shares of Series A Non-convertible Preferred Stock at a price of $0.01 per share, for a total of $6,413.00; and (2) 13,587,000 shares of common stock at a price of $0.001 per shares for a total of $13,587.00, and (3). 20,000,000 shares of Series D Convertible Preferred Stock at a price of $0.01 per share, for a total of $20,000.00 The securities were issued to the Companys Chief Executive Officer, Gerald Sklar, Chief Financial Officer, R Nickolas Jones, and Board of Director member, Arnold Sopczak in lieu of cash as full payment for $40,000 in funds advanced to pay the Companys operations expenses. |