Silverton Energy (SLTN) 10-Q/A 26 Jun 15 2015 Q2 Quarterly report (amended) Financial data

Document And Entity Information

Document And Entity Information - Mar. 31, 2015 - shares	Total
Document and Entity Information [Abstract]
Entity Registrant Name	SILVERTON ENERGY, INC.
Document Type	10-Q
Current Fiscal Year End Date	--09-30
Entity Common Stock, Shares Outstanding	52,424,875
Amendment Flag	false
Entity Central Index Key	1,508,786
Entity Current Reporting Status	Yes
Entity Voluntary Filers	Yes
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Silverton Energy Inc. - Balance

Silverton Energy Inc. - Balance Sheets - USD ($)	Mar. 31, 2015	Sep. 30, 2014
CURRENT ASSETS
Cash	$ 0	$ 11,890
Other current assets	567	1,359
Loan receivable	46,081	23,581
TOTAL ASSETS	46,648	36,830
CURRENT LIABILITIES
Accounts payable and accrued liabilities	151,236	84,106
Bank overdraft	267
Loan payable	275,000	210,000
Interest payable	10,774	4,317
Loans from related party	18,654	18,654
TOTAL CURRENT LIABILITIES	$ 455,931	$ 317,077
Authorized
500,000,000 shares of common stock, $0.001 par value, (in Shares)
Issued and outstanding
52,424,875 shares as of March 31, 2015 and at September 30, 2014	$ 52,425	$ 52,425
Additional Paid in Capital	(36,035)	(36,035)
Deficit accumulated during the development stage	(425,673)	(296,637)
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT)	(409,283)	(280,247)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)	$ 46,648	$ 36,830

Silverton Energy Inc. - Stateme

Silverton Energy Inc. - Statement of Operations - USD ($)	3 Months Ended		6 Months Ended		54 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015
REVENUE
EXPENSES
Office and general	$ 7,625	$ 17,075	$ 15,329	$ 17,375	$ 75,082
Interest expense, net	3,267	759	6,207	759	10,207
Professional Fees	49,500	53,723	107,500	55,473	340,384
Total Expenses	60,392	71,557	129,036	73,607	425,673
NET LOSS	$ (60,392)	$ (71,557)	$ (129,036)	$ (73,607)	$ (425,673)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
(in Shares)	52,424,875	52,424,875	52,424,875	52,424,875

Silverton Energy Inc. - Statem4

Silverton Energy Inc. - Statement of Stockholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance, at Sep. 30, 2011	$ 852,500	$ (841,500)	$ (20,763)	$ (9,763)
Balance, (in Shares) at Sep. 30, 2011	852,500,000
Net loss for the period from inception to
Net Loss,			(16,562)	(16,562)
Balance, at Sep. 30, 2012	$ 873,425	(857,025)	(37,325)	(20,925)
Balance, (in Shares) at Sep. 30, 2012	873,425,000
Net loss for the period from inception to
Net Loss,			(23,539)	(23,539)
Balance, at Sep. 30, 2013	$ 52,425	(36,035)	(60,864)	(44,474)
Balance, (in Shares) at Sep. 30, 2013	52,424,875
Net loss for the period from inception to
Net Loss,			(235,773)	(235,773)
Balance, at Sep. 30, 2014	$ 52,425	(36,035)	(296,637)	(280,247)
Balance, (in Shares) at Sep. 30, 2014	52,424,875
Net loss for the period from inception to
Net Loss,			(129,036)	(129,036)
Balance, at Mar. 31, 2015	$ 52,425	$ (36,035)	$ (425,673)	$ (409,283)
Balance, (in Shares) at Mar. 31, 2015	52,424,875

Silverton Energy Inc. - Statem5

Silverton Energy Inc. - Statement of Cash Flows - USD ($)	6 Months Ended		12 Months Ended	54 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014	Mar. 31, 2015
OPERATING ACTIVITIES
Net loss	$ (129,036)	$ (73,607)	$ (235,773)	$ (425,673)
used in operating activities
Decrease (increase) in interest payable	6,207	827		10,207
Increase (decrease) in Other current assets	1,042	(2,360)
Increase (decrease) in accounts payable and accrued expenses	67,130	4,273		151,236
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
$	(54,657)	(70,867)		(264,230)
INVESTING ACTIVITIES
Increase in loan receivable	(22,500)	(20,264)		(46,081)
NET CASH USED BY INVESTING ACTIVITIES	(22,500)	(20,264)		(46,081)
FINANCING ACTIVITIES
Proceeds from sale of common stock				16,390
Bank overdraft	267	87		267
Proceeds from loan payable	65,000	90,000		275,000
Loan from related party		200		18,654
NET CASH PROVIDED BY FINANCING ACTIVITIES
$	65,267	90,287		$ 310,311
NET INCREASE (DECREASE) IN CASH	(11,890)	(844)
CASH, BEGINNING OF PERIOD	$ 11,890	$ 844	$ 844

NOTE 1 - CONDENSED FINANCIAL ST

NOTE 1 - CONDENSED FINANCIAL STATEMENTS	6 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 – CONDENSED FINANCIAL STATEMENTS 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 March 31, 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 financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s September 30, 2014 audited financial statements. The results of operations for the periods ended March 31, 2015 and the same period last year are not necessarily indicative of the operating results for the full years. In October 2014, the Company approved a name change to Silverton Energy, Inc.

NOTE 2 - GOING CONCERN

NOTE 2 - GOING CONCERN	6 Months Ended
	Mar. 31, 2015
Going Concern Note (Deprecated 2015-01-31) [Abstract]
Going Concern Note (Deprecated 2015-01-31)	NOTE 2 – GOING CONCERN The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $409,283 and net loss from operations since inception of $425,673. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founder’s shares. 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 - LOAN RECEIVABLE - RELA

NOTE 3 - LOAN RECEIVABLE - RELATED PARTY LOANS	6 Months Ended
	Mar. 31, 2015
Loans and Leases Receivable, Related Parties Disclosure [Abstract]
Loans and Leases Receivable, Related Parties, Description	NOTE 3 - LOAN RECEIVABLE - RELATED PARTY LOANS The Company loaned $46,081 to a related party. $10,000 is due on December 1, 2015. The interest is 5% per annum. The company accrued interest of $567 as of March 31, 2015. $36,081 is on demand and without interest.

NOTE 4 - LOAN PAYABLE - RELATED

NOTE 4 - LOAN PAYABLE - RELATED PARTY LOANS	6 Months Ended
	Mar. 31, 2015
Disclosure Text Block Supplement [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	NOTE 4 - LOAN PAYABLE - RELATED PARTY LOANS The Company has received $18,654 as a loan from related parties as of March 31, 2015 ($18,654 as of December 31, 2014). The loan is on demand and without interest.

NOTE 5 - RELATED PARTY TRANSACT

NOTE 5 - RELATED PARTY TRANSACTION	6 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 5 – RELATED PARTY TRANSACTION The Company entered into a consulting agreement with Dr Thomas Sawyer, president and director of the Company, on December1, 2013 for the amount of $15,000 per month, with the total consulting fee amount being $45,000 for quarter ended March 31, 2015 and $123,550 of them were outstanding as of March 31, 2015. The Company has also accrued outstanding expenses of $17,502 in relation to office rent and expenses, travel, accommodation and related expenses which remains outstanding.

NOTE 6 - LOAN PAYABLE

NOTE 6 - LOAN PAYABLE	6 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 6 – LOAN PAYABLE The Company entered loan agreement on January 9, 2014. The company may draw by $70,000 from time to time. The Expiration date is September 18, 2015. On January 31, 2014, the Company increased loan amount by $90,000. The Company borrowed an additional $40,000 on April 15, 2014. The Company borrowed an additional $80,000 during the last quarter of the year ended September 30, 2014 and borrowed an additional 65,000 during the quarter ended December 31, 2014. The interest is 5% per annum on the loan. The Company accrued interest of $10,774 as of March 31, 2015.

NOTE 7 - CAPITAL STOCK

NOTE 7 - CAPITAL STOCK	6 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 7 – CAPITAL STOCK On October 1, 2010 the Company issued 852,500,000 Founder’s shares at $0.000012 per share for net funds to the Company of $11,000. During March and April, 2012, the Company issued 20,925,000 common shares for $0.000258 per share, for cash of $5,400 In March 2013 the Company increased its Authorized common shares to 250,000,000 shares at $0.001 per share. In March 2013, the Company declared a 155:1 forward split and on the same day redeemed 821,000,125 common shares for $10. As at March 31, 2015 the Company has issued 52,424,875 common shares. In October 2014, the company increased authorized share capital from 250,000,000 shares of common stock to 500,000,000 shares of common stock. In October 2014, the majority shareholder and the Board of Director approved a reverse stock split two to one that was effected in November 2014.

NOTE 8 - SUBSEQUENT EVENTS

NOTE 8 - SUBSEQUENT EVENTS	6 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 8 - SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there is one event to disclose. In May 2015, the Company borrowed $4,500 from Capro Ltd.

NOTE 2 - GOING CONCERN (Details

NOTE 2 - GOING CONCERN (Details) - Mar. 31, 2015 - USD ($)	Total
Going Concern Note (Deprecated 2015-01-31) [Abstract]
undefined	$ 409,283
Retained Earnings (Accumulated Deficit)	$ 425,673

NOTE 3 - LOAN RECEIVABLE - RE15

NOTE 3 - LOAN RECEIVABLE - RELATED PARTY LOANS (Details) - USD ($)	12 Months Ended
	Dec. 01, 2015	Mar. 31, 2015	Dec. 01, 2014	Nov. 30, 2014
Loans and Leases Receivable, Related Parties Disclosure [Abstract]
Notes Receivable, Related Parties		$ 36,081	$ 10,000	$ 46,081
Debt Instrument, Interest Rate During Period	5.00%
Interest Receivable		$ 567

NOTE 4 - LOAN PAYABLE - RELAT16

NOTE 4 - LOAN PAYABLE - RELATED PARTY LOANS (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Disclosure Text Block Supplement [Abstract]
Due from Related Parties	$ 18,654	$ 18,654

NOTE 5 - RELATED PARTY TRANSA17

NOTE 5 - RELATED PARTY TRANSACTION (Details) - USD ($)	1 Months Ended	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2014	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transaction, Amounts of Transaction	$ 15,000
ConsultingFees		$ 45,000
Due to Related Parties			$ 123,550
Other General and Administrative Expense		$ 17,502

NOTE 6 - LOAN PAYABLE (Details)

NOTE 6 - LOAN PAYABLE (Details) - USD ($)	Apr. 15, 2014	Jan. 31, 2014	Dec. 31, 2014	Sep. 30, 2014	Mar. 31, 2015	Jan. 09, 2014
Debt Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity						$ 70,000
Increase (Decrease) in Other Loans	$ 40,000	$ 90,000
Line of Credit Facility, Increase (Decrease), Net			$ 65,000	$ 80,000
Debt Instrument, Interest Rate, Stated Percentage			5.00%
Interest Expense, Borrowings					$ 10,774

NOTE 7 - CAPITAL STOCK (Details

NOTE 7 - CAPITAL STOCK (Details) - USD ($)	Oct. 02, 2010	Mar. 30, 2013	Sep. 30, 2012	Apr. 30, 2012	Mar. 31, 2012	Apr. 30, 2012	Mar. 31, 2015	Mar. 30, 2015	Oct. 31, 2014	Sep. 30, 2014	Mar. 31, 2013
Stockholders' Equity Note [Abstract]
Stock Issued During Period, Shares, New Issues	852,500,000					20,925,000
Shares Issued, Price Per Share (in Dollars per share)	$ 0.000012			$ 0.000258		$ 0.000258
Development Stage Entities, Stock Issued, Value, Issued for Cash (in Dollars)	$ 11,000
Stock Issued During Period, Value, New Issues (in Dollars)	$ 11,000			$ 2,050	$ 3,350	$ 5,400
Common Stock, Shares Authorized								500,000,000	250,000,000		250,000,000
Common Stock, Par or Stated Value Per Share (in Dollars per share)											$ 0.001
Stock Redeemed or Called During Period, Shares		821,000,125
Stock Redeemed or Called During Period, Value (in Dollars)		$ 10	$ (10)
Common Stock, Shares, Issued							52,424,875

NOTE 8 - SUBSEQUENT EVENTS (Det

NOTE 8 - SUBSEQUENT EVENTS (Details)	May. 31, 2015USD ($)
Subsequent Events [Abstract]
Notes Payable	$ 4,500

Uncategorized Items - trss-2015

Label	Element	Value
Additional Paid-in Capital [Member]
Redemption of common shares	us-gaap_StockRedeemedOrCalledDuringPeriodValue	$ 820,990
Shares Issued,	us-gaap_StockIssuedDuringPeriodValueNewIssues	(5,855)
Shares Issued,	us-gaap_StockIssuedDuringPeriodValueNewIssues	(841,500)
Shares Issued,	us-gaap_StockIssuedDuringPeriodValueNewIssues	(9,670)
Common Stock [Member]
Redemption of common shares	us-gaap_StockRedeemedOrCalledDuringPeriodValue	$ (821,000)
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	12,981,250
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	7,943,750
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	852,500,000
Shares Issued,	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 13,020
Shares Issued,	us-gaap_StockIssuedDuringPeriodValueNewIssues	7,905
Shares Issued,	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 852,500
Stock Redeemed or Called During Period, Shares	us-gaap_StockRedeemedOrCalledDuringPeriodShares	(821,000,125)
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ (6,768)
Net Loss,	us-gaap_NetIncomeLoss	(13,995)
Net Loss,	us-gaap_NetIncomeLoss	$ (6,768)