Bnet Media 10-Q 13 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 06, 2019
Document and Entity Information:
Entity Registrant Name	Bnet Media Group, Inc.
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Entity Central Index Key	0001501268
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		35,015,000
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	No
Entity Small Business	true
Emerging Growth Company	false
Entity Shell Company	true
Entity Interactive Data Current	Yes
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Tax Identification Number (TIN)	30-0523156
Entity File Number	000-53316
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	352 South 200 West
Entity Address, City or Town	Farmington
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84025
City Area Code	801
Local Phone Number	928-8266

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash	$ 0	$ 5
Prepaid expense	1,000	0
Total Current Assets	1,000	5
TOTAL ASSETS	1,000	5
CURRENT LIABILITIES
Accounts payable	88,937	89,042
Accounts payable - related parties	219,343	203,831
Total Current Liabilities	308,280	292,873
Total Liabilities	308,280	292,873
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock: $0.001 par value, 800,000,000 shares authorized, 35,015,000 shares issued and outstanding.	35,015	35,015
Additional paid-in capital	249,474	249,474
Accumulated deficit	(639,791)	(625,379)
Total Stockholders' Equity (Deficit)	(307,280)	(292,868)
TOTAL LIABILITIES AND STOCKHOLDERS'EQUITY (DEFICIT)	1,000	5
Preferred Stock Series A [Member]
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock	20,000	20,000
Preferred Stock Series B [Member]
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock	8,022	8,022
Preferred Stock Series C [Member]
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock	0	0
Preferred Stock Series D [Member]
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock	$ 20,000	$ 20,000

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Common stock Par value	$ 0.001	$ 0.001
Common stock, authorized shares	800,000,000	800,000,000
Common stock, issued shares	35,015,000	35,015,000
Common stock, outstanding shares	35,015,000	35,015,000
Preferred Stock Series A [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	20,000,000	20,000,000
Preferred stock, issued shares	20,000,000	20,000,000
Preferred stock, outstanding shares	20,000,000	20,000,000
Preferred Stock Series B [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	20,000,000	20,000,000
Preferred stock, issued shares	8,021,796	8,021,796
Preferred stock, outstanding shares	8,021,796	8,021,796
Preferred Stock Series C [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	20,000,000	20,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Preferred Stock Series D [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	20,000,000	20,000,000
Preferred stock, issued shares	20,000,000	20,000,000
Preferred stock, outstanding shares	20,000,000	20,000,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Text Block [Abstract]
REVENUES	$ 0	$ 0	$ 0	$ 0
OPERATING EXPENSES
Professional fees	7,001	5,080	14,197	28,973
General and administrative	110	15	215	2,544
Total Operating Expenses	7,111	5,095	14,412	31,517
LOSS FROM OPERATIONS	(7,111)	(5,095)	(14,412)	(31,517)
INCOME TAX EXPENSE
NET LOSS	$ (7,111)	$ (5,095)	$ (14,412)	$ (31,517)
BASIC AND DILUTED LOSS PER COMMON SHARE	$ 0	$ 0	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF BASIC AND DILUTED COMMON SHARES OUTSTANDING	35,015,000	35,015,000	35,015,000	35,015,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Preferred Stock - Series A	Preferred Stock - Series B	Preferred Stock - Series D	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Dec. 31, 2017	20,000,000	8,021,796	20,000,000	35,015,000
Beginning balance, value at Dec. 31, 2017	$ 20,000	$ 8,022	$ 20,000	$ 35,015	$ 249,474	$ (579,657)	$ (247,146)
Net loss						(31,517)	(31,517)
Ending balance, shares at Jun. 30, 2018	20,000,000	8,021,796	20,000,000	35,015,000
Ending balance, value at Jun. 30, 2018	$ 20,000	$ 8,022	$ 20,000	$ 35,015	249,474	(611,174)	(278,663)
Beginning balance, shares at Mar. 31, 2018	20,000,000	8,021,796	20,000,000	35,015,000
Beginning balance, value at Mar. 31, 2018	$ 20,000	$ 8,022	$ 20,000	$ 35,015	249,474	(606,079)	(273,568)
Net loss						(5,095)	(5,095)
Ending balance, shares at Jun. 30, 2018	20,000,000	8,021,796	20,000,000	35,015,000
Ending balance, value at Jun. 30, 2018	$ 20,000	$ 8,022	$ 20,000	$ 35,015	249,474	(611,174)	(278,663)
Beginning balance, shares at Dec. 31, 2018	20,000,000	8,021,796	20,000,000	35,015,000
Beginning balance, value at Dec. 31, 2018	$ 20,000	$ 8,022	$ 20,000	$ 35,015	249,474	(625,379)	(292,868)
Net loss						(14,412)	(14,412)
Ending balance, shares at Jun. 30, 2019	20,000,000	8,021,796	20,000,000	35,015,000
Ending balance, value at Jun. 30, 2019	$ 20,000	$ 8,022	$ 20,000	$ 35,015	249,474	(639,791)	(307,280)
Beginning balance, shares at Mar. 31, 2019	20,000,000	8,021,796	20,000,000	35,015,000
Beginning balance, value at Mar. 31, 2019	$ 20,000	$ 8,022	$ 20,000	$ 35,015	249,474	(632,680)	(300,169)
Net loss						(7,111)	(7,111)
Ending balance, shares at Jun. 30, 2019	20,000,000	8,021,796	20,000,000	35,015,000
Ending balance, value at Jun. 30, 2019	$ 20,000	$ 8,022	$ 20,000	$ 35,015	$ 249,474	$ (639,791)	$ (307,280)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Text Block [Abstract]
Net loss	$ (14,412)	$ (31,517)
Changes in operating assets and liabilities:
Prepaid expenses	(1,000)	0
Accounts payable	(105)	255
Accounts payable - related parties	15,512	31,233
Net Cash Used in Operating Activities	(5)	(29)
CASH FLOWS FROM INVESTING ACTIVITIES	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party payable	0	25
Net Cash Provided by Financing Activities	0	25
NET INCREASE (DECREASE) IN CASH	(5)	(4)
CASH AT BEGINNING OF PERIOD	5	29
CASH AT END OF PERIOD	0	25
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
CASH PAID FOR: Interest	0	0
CASH PAID FOR: Income Taxes	0	0
NON CASH FINANCING ACTIVITIES:	$ 0	$ 0

Note 1 - Condensed Financial St

Note 1 - Condensed Financial Statements	6 Months Ended
	Jun. 30, 2019
Text Block [Abstract]
Note 1 - Condensed Financial Statements	NOTE 1 - CONDENSED FINANCIAL STATEMENTS The accompanying condensed 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, and stockholder’s equity at June 30, 2019, 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 financial statements and notes thereto included in the Company's December 31, 2018 audited financial statements. The results of operations for the periods ended June 30, 2019 and 2018 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, 2019
Text Block [Abstract]
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 for a period of one year from the issuance of these financial statements. 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. These factors raise substantial doubt about the company’s ability to continue as a going concern for a period of one year from the date these financial statements were issued. 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, 2019
Text Block [Abstract]
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. Loss per Common Share Basic earnings (loss) per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share include the dilutive effect, if any, from the potential exercise of stock options using the treasury stock method. At June 30, 2019 and June 30, 2018, the Company had a basic and diluted loss per common share of -0- and -0-, respectively. For the six months ended June 30, 2019, and for the period ended June 30, 2018, convertible preferred stock in the amount of 28,021,796, were excluded from loss per share because their effect would be anti-dilutive. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires lessees to recognize lease assets and lease liabilities on the balance sheet and requires expanded disclosures about leasing arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 and interim periods in fiscal years beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements. ASU 2018-11 provides entities another option for transition, allowing entities to not apply the new standard in the comparative periods they present in their financial statements in the year of adoption. Effective January 1, 2019, we adopted ASU 2016-02 using the modified retrospective approach provided by ASU 2018-11. We elected certain practical expedients permitted under the transition guidance, including the election to carryforward historical lease classification. We also elected the short-term lease practical expedient, which allowed us to not recognize leases with a term of less than twelve months on our consolidated balance sheets. In addition, we elected the lease and non-lease components practical expedient, which allowed us to calculate the present value of the fixed payments without performing an allocation of lease and non-lease components. Adoption of the new standard resulted in recording operating lease right-of-use assets and operating lease liabilities of approximately $0, on our balance sheets as of June 30, 2019. The standard did not have an impact on the statements of operations or cash flows. The FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). Rules and interpretative releases of the Securities and Exchange Commission (“SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants. 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	6 Months Ended
	Jun. 30, 2019
Text Block [Abstract]
Note 4- Related Party	NOTE 4- RELATED PARTY As of June 30, 2019, the Company is indebted to relates parties in the amount of $219,343. This amount represents periodic expenses paid on behalf of the Company and advances made to the Company by officers. This amounts are unsecured, non-interest bearing, and due on demand.

Note 5 - Subsequent Events

Note 5 - Subsequent Events	6 Months Ended
	Jun. 30, 2019
Text Block [Abstract]
Note 5 - Subsequent Events	NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financial statements were issued. There have been no events that would require disclosure or adjustments to the financial statements.

Note 3 - Significant Accounti_2

Note 3 - Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Text Block [Abstract]
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.
Loss per Common Share	Loss per Common Share Basic earnings (loss) per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share include the dilutive effect, if any, from the potential exercise of stock options using the treasury stock method. At June 30, 2019 and June 30, 2018, the Company had a basic and diluted loss per common share of -0- and -0-, respectively. For the six months ended June 30, 2019, and for the period ended June 30, 2018, convertible preferred stock in the amount of 28,021,796, were excluded from loss per share because their effect would be anti-dilutive.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires lessees to recognize lease assets and lease liabilities on the balance sheet and requires expanded disclosures about leasing arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 and interim periods in fiscal years beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements. ASU 2018-11 provides entities another option for transition, allowing entities to not apply the new standard in the comparative periods they present in their financial statements in the year of adoption. Effective January 1, 2019, we adopted ASU 2016-02 using the modified retrospective approach provided by ASU 2018-11. We elected certain practical expedients permitted under the transition guidance, including the election to carryforward historical lease classification. We also elected the short-term lease practical expedient, which allowed us to not recognize leases with a term of less than twelve months on our consolidated balance sheets. In addition, we elected the lease and non-lease components practical expedient, which allowed us to calculate the present value of the fixed payments without performing an allocation of lease and non-lease components. Adoption of the new standard resulted in recording operating lease right-of-use assets and operating lease liabilities of approximately $0, on our balance sheets as of June 30, 2019. The standard did not have an impact on the statements of operations or cash flows. The FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). Rules and interpretative releases of the Securities and Exchange Commission (“SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants. 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 3 - Significant Accounti_3

Note 3 - Significant Accounting Policies (Details) - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Text Block [Abstract]
Basic and diluted loss per common share	$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	28,021,796	28,021,796

Note 4- Related Party (Details)

Note 4- Related Party (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Text Block [Abstract]
Accounts payable - related parties	$ 219,343	$ 203,831
Debt Instrument Collateral	Loan is unsecured
Debt Instrument, Interest Rate Terms	Bears no interest
Debt Instrument, Payment Terms	Loan is due on demand