Horizon Minerals (HZNM) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Sep. 30, 2013
Document and Entity Information:	'
Entity Registrant Name	'HORIZON MINERALS CORP.
Document Type	'10-Q
Document Period End Date	30-Sep-13
Amendment Flag	'false
Entity Central Index Key	'0001526726
Current Fiscal Year End Date	'--12-31
Entity Common Stock, Shares Outstanding	66,000,000
Entity Filer Category	'Smaller Reporting Company
Entity Current Reporting Status	'Yes
Entity Voluntary Filers	'No
Entity Well-known Seasoned Issuer	'No
Document Fiscal Year Focus	'2013
Document Fiscal Period Focus	'Q3

Balance_Sheets_unaudited

Balance Sheets (unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets:	'	'
Cash and cash equivalent	'	'
Current Liabilities:	'	'
Accounts payable and accrued liabilities	6,981	4,800
Total current liabilities	6,981	4,800
Total Liabilities	6,981	4,800
Commitments and Contingencies	'	'
Stockholders' Deficit	'	'
Common stock value	6,600	6,600
Additional paid-in capital	79,330	65,000
(Deficit) accumulated during development stage	92,911	76,400
Total stockholders' deficit	-6,981	-4,800
Total Liabilities and Stockholders' Deficit	'	'

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Balance Sheet	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	66,000,000	66,000,000
Common stock, shares outstanding	66,000,000	66,000,000

Statements_of_Operations_unaud

Statements of Operations (unaudited) (USD $)	3 Months Ended		9 Months Ended		29 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Income Statement	'	'	'	'	'
Revenue	'	'	'	'	'
Expenses:	'	'	'	'	'
Filing fees	1,000	'	1,700	'	4,886
General and administrative	199	10,495	3,181	11,489	4,669
Patent	'	'	'	'	15,000
Professional fees	5,380	4,000	11,630	13,100	64,860
Total expenses	6,579	14,495	16,511	24,589	89,415
(Loss) from Operations	-6,579	-14,495	-16,511	-24,589	-89,415
Other Income (Expense)	'	'	'	'	'
Foreign currency transaction loss	'	'	'	-195	-195
Total other income (expense)	'	'	'	-195	-195
Provision for income taxes	'	'	'	'	'
Net (Loss)	($6,579)	($14,495)	($16,511)	($24,784)	($89,610)
(Loss) per common share - Basic and Diluted	$0	$0	$0	$0	'
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	66,000,000	66,000,000	66,000,000	49,029,192	'

Statement_of_Cash_Flows_unaudi

Statement of Cash Flows (unaudited) (USD $)	9 Months Ended		29 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Operating Activities	'	'	'
Net (loss)	($16,511)	($24,784)	($89,610)
Changes in net assets and liabilities:	'	'	'
Deferred offering costs	'	20,000	'
Accounts payable and accrued liabilities	2,181	-29,386	6,981
Net Cash Used in Operating Activities	-14,330	-34,170	-82,629
Financing Activities	'	'	'
Donated capital	14,330	'	27,329
Proceeds from stock issued	'	55,000	55,300
Proceeds from related party loans	'	19,246	40,376
Repayments of related party loans	'	40,376	40,376
Net Cash Provided by Financing Activities	14,330	33,870	82,629
Net Increase (Decrease) in Cash	'	-300	'
Cash - beginning of the period	'	300	'
Cash - ending of the period	'	'	'
Supplemental Disclosure of Cash Flow Information:	'	'	'
Interest paid	'	'	'
Income taxes paid	'	'	'

History_and_Organization

History and Organization	3 Months Ended
	Sep. 30, 2013
Notes	'
History and Organization	'
	NOTE 1 - HISTORY AND ORGANIZATION
	Horizon Minerals Corp. (the “Company”) is a Delaware corporation in the development stage and has not commenced operations. The Company was incorporated under the laws of the State of Delaware on May 11, 2011, with the intent to develop an anti-theft vehicle ignition system, for which the Company acquired certain patents and other intellectual property. On March 25, 2013, the Company amended its articles of incorporation to change its name from Safe Dynamics Corp. to Horizon Minerals Corp., with the intent to enter the gold and mineral mining industry.
	On March 25, 2013, the Company effected a 12-for-1 forward stock split for each share of Common Stock outstanding immediately prior to March 25, 2013 (the “Forward Stock Split”). The par value of the Common Stock remained $0.0001 per share. This conversion was applied to all shares of Common Stock. No fractional shares of Common Stock were issued upon the Forward Stock Split. All share and per share values for all periods presented in the accompanying financial statements are retroactively restated for the effect of the forward split.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2013
Notes	'
Summary of Significant Accounting Policies	'
	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of presentation
	The interim financial statements included herein, have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. All amounts are expressed in US dollars, unless otherwise indicated.
	These interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these condensed interim financial statements be read in conjunction with the audited financial statements of the Company for the period ended December 31, 2012. The Company follows the same accounting policies in the preparation of interim reports.
	Results of operations for the interim period are not indicative of annual results.
	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 revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.
	Cash and cash equivalents
	For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value.
	Revenue recognition
	The Company is in the development stage and has yet to realize revenues from operations. Once the Company has commenced operations, it will recognize revenues when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is probable.
	Fair value of financial instruments
	The carrying amounts reflected in the balance sheets for cash, accounts payable and accrued expenses approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale.
	As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
	The three levels of the fair value hierarchy are described below:
	Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;
	Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	General and administrative expenses
	The significant components of general and administrative expenses are consulting, corporate communication and transfer agent fees.
	Loss per share
	Net loss per share is provided in accordance with FASB ASC 260-10, “Earnings per Share”.  Basic loss per share is computed by dividing losses available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no dilutive common stock equivalents, such as stock options or warrants as of September 30, 2013 and 2012.
	Dividends
	The Company has not yet adopted any policy regarding payment of dividends.  No dividends have been paid or declared since inception.
	Contingencies
	The Company is not currently a party to any pending or threatened legal proceedings.  Based on information currently available, management is not aware of any matters that would have a material adverse effect on the Company’s financial condition, results of operations or cash flows.
	Recent pronouncements
	The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

Going_Concern

Going Concern	3 Months Ended
	Sep. 30, 2013
Notes	'
Going Concern	'
	NOTE 3 - GOING CONCERN
	The accompanying financial statements have been prepared assuming the Company will continue as a going concern.  As of September 30, 2013, the Company has not achieved profitable operations and has accumulated a deficit of $92,911.  Continuation as a going concern is dependent upon the ability of the Company to obtain the necessary financing to meet obligations and pay its liabilities arising from normal business operations when they come due and ultimately up on its ability to achieve profitable operations.  The outcome of these matters cannot be predicted with any certainty at this time and raises substantial doubt that the Company will be able to continue as a going concern.  These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.  Management intends to obtain additional funding by borrowing funds from its directors and officers, issuing promissory notes and/or a private placement of common stock.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Sep. 30, 2013
Notes	'
Stockholders' Equity	'
	NOTE 4 - STOCKHOLDERS’ EQUITY
	On March 25, 2013, the Company effected a 12-for-1 forward stock split for each share of Common Stock outstanding immediately prior to March 25, 2013 (the “Forward Stock Split”) without affecting the par value of the Common Stock, which remained $0.0001 per share. This conversion applied to all shares of Common Stock and no fractional shares of Common Stock were issued upon the Forward Stock Split.
	Aside from the above Forward Stock Split, the Company did not have any other equity transactions during the nine months ended September 30, 2013.

Donated_Services

Donated Services	3 Months Ended
	Sep. 30, 2013
Notes	'
Donated Services	'
	NOTE 5 - DONATED SERVICES
	During the nine months ended September 30, 2013, the Company incurred the following fees with various vendors, which were paid on behalf of the Company by an unrelated party without requirement for the payments to be reimbursed. These payments were recorded as donated capital.
		Amount
	Transfer agent fees	$2,348
	Accounting and audit fees	9,500
	Filing fees	1,000
	Legal fees	1,482
	Total donated capital	$14,330

Summary_of_Significant_Account1

Summary of Significant Accounting Policies: Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Basis of Presentation	'
	Basis of presentation
	The interim financial statements included herein, have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. All amounts are expressed in US dollars, unless otherwise indicated.
	These interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these condensed interim financial statements be read in conjunction with the audited financial statements of the Company for the period ended December 31, 2012. The Company follows the same accounting policies in the preparation of interim reports.
	Results of operations for the interim period are not indicative of annual results.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies: Use of Estimates (Policies)	3 Months Ended
	Sep. 30, 2013
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 revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.

Summary_of_Significant_Account3

Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Cash and Cash Equivalents	'
	Cash and cash equivalents
	For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value.

Summary_of_Significant_Account4

Summary of Significant Accounting Policies: Revenue Recognition (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Revenue Recognition	'
	Revenue recognition
	The Company is in the development stage and has yet to realize revenues from operations. Once the Company has commenced operations, it will recognize revenues when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is probable.

Summary_of_Significant_Account5

Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Fair Value of Financial Instruments	'
	Fair value of financial instruments
	The carrying amounts reflected in the balance sheets for cash, accounts payable and accrued expenses approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale.
	As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
	The three levels of the fair value hierarchy are described below:
	Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;
	Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Summary_of_Significant_Account6

Summary of Significant Accounting Policies: General and Administrative Expenses (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
General and Administrative Expenses	'
	General and administrative expenses
	The significant components of general and administrative expenses are consulting, corporate communication and transfer agent fees.

Summary_of_Significant_Account7

Summary of Significant Accounting Policies: Loss Per Share (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Loss Per Share	'
	Loss per share
	Net loss per share is provided in accordance with FASB ASC 260-10, “Earnings per Share”.  Basic loss per share is computed by dividing losses available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no dilutive common stock equivalents, such as stock options or warrants as of September 30, 2013 and 2012.

Summary_of_Significant_Account8

Summary of Significant Accounting Policies: Dividends (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Dividends	'
	Dividends
	The Company has not yet adopted any policy regarding payment of dividends.  No dividends have been paid or declared since inception.

Summary_of_Significant_Account9

Summary of Significant Accounting Policies: Contingencies (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Contingencies	'
	Contingencies
	The Company is not currently a party to any pending or threatened legal proceedings.  Based on information currently available, management is not aware of any matters that would have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

Recovered_Sheet1

Summary of Significant Accounting Policies: Recent Pronouncements (Policies)	3 Months Ended
	Sep. 30, 2013
Policies	'
Recent Pronouncements	'
	Recent pronouncements
	The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

Donated_Services_Schedule_of_F

Donated Services: Schedule of Fees Paid on Behalf of the Company (Tables)	3 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Fees Paid on Behalf of the Company	'
		Amount
	Transfer agent fees	$2,348
	Accounting and audit fees	9,500
	Filing fees	1,000
	Legal fees	1,482
	Total donated capital	$14,330

History_and_Organization_Detai

History and Organization (Details)	0 Months Ended
	Mar. 25, 2013
Details	'
Forward stock split	'12-for-1 forward stock split for each share of Common Stock outstanding immediately prior to March 25, 2013 (the “Forward Stock Split”) without affecting the par value of the Common Stock, which remained $0.0001 per share

Going_Concern_Details

Going Concern (Details) (USD $)	Sep. 30, 2013
Details	'
Accumulated deficit	$92,911

Stockholders_Equity_Details

Stockholders' Equity (Details)	0 Months Ended
	Mar. 25, 2013
Details	'
Forward stock split	'12-for-1 forward stock split for each share of Common Stock outstanding immediately prior to March 25, 2013 (the “Forward Stock Split”) without affecting the par value of the Common Stock, which remained $0.0001 per share

Donated_Services_Schedule_of_F1

Donated Services: Schedule of Fees Paid on Behalf of the Company (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Fees paid on behalf of the Company	$14,330
Transfer agent fees paid	'
Fees paid on behalf of the Company	2,348
Accounting and audit fees paid	'
Fees paid on behalf of the Company	9,500
Filing fees paid	'
Fees paid on behalf of the Company	1,000
Legal fees paid	'
Fees paid on behalf of the Company	$1,482