Bnet Media 10-Q 16 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Document and Entity Information:
Entity Registrant Name	Bnet Media Group, Inc.
Document Type	10-Q
Document Period End Date	Sep. 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	Q3
Trading Symbol	bnet

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 1,412	$ 596
Total Current Assets	1,412	596
Other Assets	18,866	18,866
TOTAL ASSETS	20,278	19,462
CURRENT LIABILITIES
Accounts payable	85,651	73,550
Customer deposits	3,000
Accounts payable - related parties	14,379	48,268
Total Current Liabilities	103,030	121,818
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock Series A: $0.001 par value, 100,000,000 shares authorized, 20,000,000 and 7,787,000 shares issued and outstanding, respectively	20,000	7,787
Preferred stock Series B: $0.001 par value, 20,000,000 shares authorized, 8,021,796 and 8,021,796 shares issued and outstanding respectively	8,022	8,022
Preferred stock Series D: $0.001 par value, 20,000,000 shares authorized, 20,000,000 and -0- shares issued and outstanding respectively	20,000
Common stock: $0.001 par value, 800,000,000 shares authorized, 35,015,000 and 16,208,000 shares issued and outstanding, respectively	35,015	16,208
Additional paid-in capital	287,899	118,636
Accumulated deficit	(453,688)	(253,009)
Total Stockholders' Deficit	(82,752)	(102,356)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 20,278	$ 19,462

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
OPERATING EXPENSES
Professional fees	$ 12,233	$ 7,978	$ 33,643	$ 27,900
Executive compensation	122,283		122,283
General and administrative	41,685	42	44,753	200
Total Operating Expenses	176,201	8,020	200,679	28,100
LOSS FROM OPERATIONS	(176,201)	(8,020)	(200,679)	(28,100)
NET INCOME LOSS	$ (176,201)	$ (8,020)	$ (200,679)	$ (28,100)
BASIC AND DILUTED LOSS PER COMMON SHARE	$ (0.01)	$ 0	$ (0.01)	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	32,061,304	16,208,000	23,118,418	16,208,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (200,679)	$ (28,100)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services	122,283
Changes in operating assets and liabilities:
Customer deposits	$ 3,000
Accounts payable	12,101	19,573
Accounts payable - related parties	64,111	4,578
Net Cash Provided by (Used in) Operating Activities	816	(3,949)
CASH FLOWS FROM FINANCING ACTIVITIES
Related-party advances		4,000
Additional paid-in capital	287,899
Net Cash Provided by Financing Activities		4,000
NET INCREASE IN CASH	816	51
CASH AT BEGINNING OF PERIOD	596	529
CASH AT END OF PERIOD	1,412	580
NON CASH FINANCING ACTIVITIES:
Preferred stock to acquire assets		$ 18,866
Series A Preferred stock issued for debt	12,213
Series D Preferred stock issued for debt	20,000
Common stock issued for debt	$ 65,787

Note 2 - Going Concern

Note 2 - Going Concern	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 Company’s financial position, or statements.

Note 4- Related Party

Note 4- Related Party	9 Months Ended
	Sep. 30, 2015
Notes
Note 4- Related Party	NOTE 4- RELATED PARTY On July 20, 2015, the Company’s board of directors approved the issuance of 40,000,000 shares of the Company’s securities in satisfaction of $40,000 of debt and as a payment of $122,283 for service rendered to the Company as follows: (1) 6,413,000 shares of Series A Non-convertible Preferred Stock at a price of $0.001 per share, for a total of $6,413.00; and (2) 13,587,000 shares of common stock at a price of $0.01 per shares for a total of $135,870.00, and (3). 20,000,000 shares of Series D Convertible Preferred Stock at a price of $0.001 per share, for a total of $20,000.00 The securities were issued to the Company’s 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 Company’s operations expenses and as a payment of $122,283 for service rendered to the Company. 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 registration’s 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	9 Months Ended
	Sep. 30, 2015
Notes
Note 5 - Subsequent Events	NOTE 5 – SUBSEQUENT EVENTS In accordance with ASC 855-10 Company management reviewed all material events through the date of this report and determined that there are no material subsequent events to report.

Condensed Financial Statements

Condensed Financial Statements	9 Months Ended
	Sep. 30, 2015
Notes
Condensed 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 September 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 September 30, 2015 and 2014 are not necessarily indicative of the operating results for the full years.

Note 3 - Significant Accounti10

Note 3 - Significant Accounting Policies: Use of Estimates (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
Use of Estimates	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.

Note 3 - Significant Accounti11

Note 3 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
Recent Accounting Pronouncements	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 Company’s financial position, or statements.