MJ Pharmaceuticals 10-K 14 Apr 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Apr. 14, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	MJ Pharmaceuticals Inc.
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		187,740,000
Entity Public Float			$ 0
Amendment Flag	false
Entity Central Index Key	1,502,629
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 3,971	$ 7,358
TOTAL ASSETS	3,971	7,358
Current liabilities:
Related party loan	449	449
Accrued expenses	9,309	5,532
Total current liabilities	9,758	5,981
Stockholders’ equity (deficit):
Preferred stock, $0.0001 par value per share, 20,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.0001 par value per share, 500,000,000 shares authorized; 185,740,000 shares issued and outstanding	18,574	18,574
Additional paid-in capital	0	0
(Deficit)	(24,361)	(17,197)
Total stockholders’ equity (deficit)	(5,787)	1,377
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$ 3,971	$ 7,358

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	185,740,000	185,740,000
Common stock, shares outstanding	185,740,000	185,740,000

STATEMENT OF OPERATIONS

STATEMENT OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenue (Note 2):
Net e-commerce service revenue	$ 0	$ 6,731
Less: e-commerce service costs	0	(3,010)
Gross Profit	0	3,721
Expenses:
General and administrative	7,164	16,929
Net (loss)	$ (7,164)	$ (13,208)
(Loss) per common share, basic and diluted (Note 2) (in Dollars per share)	$ 0	$ 0
Weighted average shares outstanding, basic and diluted (in Shares)	185,740,000	138,659,227

STATEMENT OF CHANGES IN STOCKHO

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2013		$ (3,989)
Balance (in Shares) at Dec. 31, 2013	3,989
Shares issued for cash and expenses paid by sole shareholder			$ 14,585
Shares issued for cash and expenses paid by sole shareholder (in Shares)	14,585			145,850,000
Net loss		(13,208)	(13,208)	$ (13,208)
Balance at Dec. 31, 2014		(17,197)	1,377	$ 1,377
Balance (in Shares) at Dec. 31, 2014	18,574			185,740,000
Net loss		(7,164)	(7,164)	$ (7,164)
Balance at Dec. 31, 2015		$ (24,361)	$ (5,787)	$ (5,787)
Balance (in Shares) at Dec. 31, 2015	18,574			185,740,000

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net (loss)	$ (7,164)	$ (13,208)
Adjustment to reconcile net loss to net cash provided by (used in) operating activities:
Expenses paid by sole shareholder	0	9,023
Change in operating assets and liabilities:
Increase in accrued expenses	3,777	5,532
Net cash (used in) provided by operating activities	(3,387)	1,347
Cash flows from financing activities:
Cash for issuance of common stock	0	5,562
Proceeds from related party loan	0	449
Net cash provided by financing activities	0	6,011
Net (decrease) increase in cash and cash equivalents	(3,387)	7,358
Cash and cash equivalents, beginning of year	7,358	0
Cash and cash equivalents, end of year	3,971	7,358
Supplemental disclosure of cash flow information
Cash paid for income taxes	0	0
Cash paid for interest	0	0
Non cash financing transactions
Common stock issued for payment of expenses	$ 0	$ 9,023

1. GENERAL

1. GENERAL	12 Months Ended
	Dec. 31, 2015
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. GENERAL Organization and Business Nature MJ Pharmaceuticals, Inc. (the "Company") was incorporated under the laws of the State of Delaware on February 21, 2012. The Company’s initial name was Melanthios Acquisition, Inc. The Company initially intended to serve as a vehicle to effect an asset acquisition, merger, and exchange of capital stock or other business combination with a domestic or foreign business. On October 31, 2013, the initial owner of the Company transferred 100% of his shares to a new owner, Uren Enterprises, LLC which is solely owned by Mr. Mark Uren. The Company under the new ownership initially served as an investor in and provider of e-commerce operations to the property management and property rental industries. It subsequently determined to serve as investor in and provider of e-commerce operations and other services to the marijuana pharmaceutical industry. On April 11, 2014, Melanthios Acquisition, Inc. filed a Certificate of Amendment of its Certificate of Incorporation changing the name of the Company to Price My Rent Group, Inc. On December 17, 2014, Price My Rent Group, Inc. filed a Certificate of Amendment of its Certificate of Incorporation changing the name of the Company to MJ Pharmaceuticals, Inc. The Company commenced limited initial e-commerce operations on September 1, 2014. In November 2014, the Company suspended these operations. It subsequently determined to serve as investor in and provider of e-commerce operations and other services to the marijuana pharmaceutical industry.

2. ACCOUNTING POLICIES

2. ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	2. ACCOUNTING POLICIES Basis of Accounting and Presentation The accompany financial statements have been prepared on the accrual basis in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In June 2014, the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) issued Accounting Standards Update (“ASU”) 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain 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. Cash and Cash Equivalents The Company considers all liquid investments with an original maturity of three months or less to be cash equivalents. Revenue Recognition The Company intends to generate its revenue from transaction fees for certain e-commerce software solutions, such as payment processing. Revenue will be recorded pursuant to FASB ASC 605, Revenue Recognition Cost of Revenue Cost of revenue consists primarily of fees paid to third-party service providers. Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740, Income Taxes The Company adopted the provisions of FASB ASC 740-10-25. The provisions prescribe a recognition threshold and measurement attribute for the recognition and measurement of tax positions taken or expected to be taken in income tax returns and require that uncertain tax positions are evaluated in a two-step process. The Company does not have any uncertain tax positions. The Company is in the process of preparing and filing its federal income tax returns for the years ended December 31, 2015, and 2014. These returns, when filed, will all be subject to examination by the tax authorities. Basic Earnings (Loss) Per Share Net earnings (loss) per share is calculated in accordance with FASB ASC 260, Earnings Per Share Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurement Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access. Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly. Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements. FASB ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurements. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Non-derivative financial instruments include cash and cash equivalents, accrued expenses and the related party loan. As of December 31, 2015 and 2014, the carrying values of these financial instruments approximated their fair values due to their short term nature.

3. RECENTLY ISSUED ACCOUNTING S

3. RECENTLY ISSUED ACCOUNTING STANDARDS	12 Months Ended
	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	3. RECENTLY ISSUED ACCOUNTING STANDARDS In February 2016, the FASB issued ASU 2016-02, Leases In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Revenue Recognition In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity

4. RELATED PARTY BALANCES AND T

4. RELATED PARTY BALANCES AND TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	4. RELATED PARTY BALANCES AND TRANSACTIONS During the year ended December 31, 2014, the sole owner of the Company, Uren Enterprises, LLC gave the Company $5,562 in cash and paid expenses of $9,023. In return, the sole owner was issued 145,850,000 shares of common stock.

5. GOING CONCERN

5. GOING CONCERN	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Substantial Doubt about Going Concern [Text Block]	5. The Company’s financial statements have been presented on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a start-up entity subject to the substantial business risks and uncertainties inherent to such an entity, including the potential risk of business failure. The Company has generated operating losses since its inception and has a stockholders’ deficit of approximately ($5,800). While the Company is attempting to commence operations and generate revenues, the Company continues to be reliant upon its sole stockholder to support its daily operations. This raises substantial doubt about the Company’s ability to continue as a going concern. Management is hoping to raise additional funds through the issuance of additional equity or debt securities. While the Company believes in its ability to raise additional funds and the viability of its strategy, there can be no assurances that they will be successful. The Company’s ability to continue as a going concern and its ability to commence its planned principal business activities is dependent upon the continued financial support from its sole stockholder and its ability to obtain the necessary equity or debt financing and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

6. SUBSEQUENT EVENTS

6. SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	6. SUBSEQUENT EVENTS Subsequent to December 31, 2015 the Company has issued 3,950,000 shares of Common for $105,000.00. From these funds the Company has purchased a 150,000 sq. ft. facility in Detroit Michigan for the amount of $40,399 for a future manufacturing/distribution center. The Company has also applied for a commercial medical grow and dispensary license in the State of Michigan which cost legal and license fees in the aggregate amount of $12,000. Subsequent events have been evaluated through April 14, 2016, the date the financial statements were issued.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Accounting and Presentation The accompany financial statements have been prepared on the accrual basis in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In June 2014, the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) issued Accounting Standards Update (“ASU”) 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain 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.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all liquid investments with an original maturity of three months or less to be cash equivalents.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company intends to generate its revenue from transaction fees for certain e-commerce software solutions, such as payment processing. Revenue will be recorded pursuant to FASB ASC 605, Revenue Recognition
Cost of Sales, Policy [Policy Text Block]	Cost of Revenue Cost of revenue consists primarily of fees paid to third-party service providers.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740, Income Taxes The Company adopted the provisions of FASB ASC 740-10-25. The provisions prescribe a recognition threshold and measurement attribute for the recognition and measurement of tax positions taken or expected to be taken in income tax returns and require that uncertain tax positions are evaluated in a two-step process. The Company does not have any uncertain tax positions. The Company is in the process of preparing and filing its federal income tax returns for the years ended December 31, 2015, and 2014. These returns, when filed, will all be subject to examination by the tax authorities.
Earnings Per Share, Policy [Policy Text Block]	Basic Earnings (Loss) Per Share Net earnings (loss) per share is calculated in accordance with FASB ASC 260, Earnings Per Share
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurement Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access. Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly. Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements. FASB ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurements. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Non-derivative financial instruments include cash and cash equivalents, accrued expenses and the related party loan. As of December 31, 2015 and 2014, the carrying values of these financial instruments approximated their fair values due to their short term nature.

1. GENERAL (Details)

1. GENERAL (Details)	Oct. 31, 2013
Percent of Ownership Transfered to Uren Enterprises from Initial Owner [Member]
1. GENERAL (Details) [Line Items]
Equity Method Investment, Ownership Percentage	100.00%

2. ACCOUNTING POLICIES (Details

2. ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Operating Loss Carryforwards, Expiration Date	2,035

4. RELATED PARTY BALANCES AND16

4. RELATED PARTY BALANCES AND TRANSACTIONS (Details)	12 Months Ended
	Dec. 31, 2014USD ($)shares
Related Party Transactions [Abstract]
Proceeds from Related Party Debt	$ 5,562
Related Party Transaction, Amounts of Transaction	$ 9,023
Stock Issued During Period, Shares, New Issues (in Shares) | shares	145,850,000

5. GOING CONCERN (Details)

5. GOING CONCERN (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stockholders' Equity Attributable to Parent	$ (5,787)	$ 1,377

6. SUBSEQUENT EVENTS (Details)

6. SUBSEQUENT EVENTS (Details)	3 Months Ended	12 Months Ended
	Apr. 14, 2016USD ($)ft²shares	Dec. 31, 2014shares
6. SUBSEQUENT EVENTS (Details) [Line Items]
Stock Issued During Period, Shares, New Issues (in Shares) | shares		145,850,000
Subsequent Event [Member]
6. SUBSEQUENT EVENTS (Details) [Line Items]
Stock Issued During Period, Shares, New Issues (in Shares) | shares	3,950,000
Stock Issued During Period, Value, New Issues	$ 105,000
Area of Real Estate Property (in Square Feet) | ft²	150,000
Property, Plant and Equipment, Additions	$ 40,399
Other Expenses	$ 12,000