Document and Entity Information
Document and Entity Information - Jun. 30, 2015 - shares | Total |
Document and Entity Information: | |
Entity Registrant Name | HORIZON MINERALS CORP. |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2015 |
Amendment Flag | false |
Entity Central Index Key | 1,526,726 |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 66,063,888 |
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 | 2,015 |
Document Fiscal Period Focus | Q2 |
Trading Symbol | sfdy |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Current Assets: | ||
Cash | $ 2,545 | $ 831 |
Prepaid expenses | 176 | 176 |
Total current assets | 2,721 | 1,007 |
Total Assets | 2,721 | 1,007 |
Current Liabilities: | ||
Accounts payable | 62,363 | 35,145 |
Accrued liabilities | 3,940 | 6,380 |
Third party advances | 62,368 | |
Due to related parties | 4,797 | 5,172 |
Total current liabilities | 133,468 | 46,697 |
Total Liabilities | 133,468 | 46,697 |
Stockholders' Deficit | ||
Common stock value | 6,606 | 6,606 |
Additional paid-in capital | 129,234 | 129,234 |
Deficit | (266,587) | (181,530) |
Total stockholders' deficit | (130,747) | (45,690) |
Total Liabilities and Stockholders' Deficit | $ 2,721 | $ 1,007 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2015 | Dec. 31, 2014 |
Balance Sheet | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 66,063,880 | 66,063,880 |
Common stock, shares outstanding | 66,063,880 | 66,063,880 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Expenses: | ||||
Filing fees | $ 2,598 | $ 1,880 | $ 2,871 | $ 7,042 |
General and administrative | 522 | 12,539 | 593 | 19,321 |
Investigation costs | 50,000 | 50,000 | ||
Professional fees | 17,627 | 4,871 | 32,552 | 8,487 |
Total expenses | 70,747 | 19,290 | 86,016 | 34,850 |
Loss from operations | (70,747) | (19,290) | (86,016) | (34,850) |
Other Items | ||||
Foreign currency transaction gain (loss) | 602 | (389) | 959 | 625 |
Total other items | 602 | (389) | 959 | 625 |
Net income (loss) | $ (70,145) | $ (19,679) | $ (85,057) | $ (35,475) |
Loss per common share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Number of Common Shares Outstanding - basic and diluted | 66,063,888 | 66,000,000 | 66,063,888 | 66,000,000 |
Statement of Changes in Stockho
Statement of Changes in Stockholders' Equity - USD ($) | Total | Common Stock | Shares Subscribed | Additional Paid-in Capital | Deficit | Totals |
Beginning Balance, shares at Dec. 31, 2013 | 66,000,000 | |||||
Beginning Balance, amount at Dec. 31, 2013 | $ 6,600 | $ 81,330 | $ (108,605) | $ (20,675) | ||
Subscription to common stock | $ 47,910 | 47,910 | ||||
Net loss for the period | $ (35,475) | (35,475) | (35,475) | |||
Ending Balance, shares at Jun. 30, 2014 | 66,000,000 | |||||
Ending Balance, amount at Jun. 30, 2014 | $ 6,600 | 47,910 | 81,330 | (144,080) | (8,240) | |
Common stock issued for cash, shares | 63,888 | |||||
Common stock issued for cash, value | $ 6 | $ (47,910) | 47,904 | |||
Net loss for the period | (37,450) | (37,450) | ||||
Ending Balance, shares at Dec. 31, 2014 | 66,063,888 | |||||
Ending Balance, amount at Dec. 31, 2014 | (45,690) | $ 6,606 | 129,234 | (181,530) | (45,690) | |
Net loss for the period | (85,057) | (85,057) | (85,057) | |||
Ending Balance, shares at Jun. 30, 2015 | 66,063,888 | |||||
Ending Balance, amount at Jun. 30, 2015 | $ (130,747) | $ 6,606 | $ 129,234 | $ (266,587) | $ (130,747) |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Operating Activities | |||||
Net income (loss) | $ (70,145) | $ (19,679) | $ (85,057) | $ (35,475) | |
Non cash items: | |||||
Unrealized foreign exchange | 375 | 178 | |||
Changes in net assets and liabilities: | |||||
Accounts payable | 27,219 | (4,068) | |||
Accrued liabilities | (2,440) | (5,760) | |||
Net cash provided by (used in) operating activities | (60,654) | (45,125) | |||
Financing Activities | |||||
Proceeds from subscribed shares | 47,910 | ||||
Proceeds from third party advances | 62,368 | ||||
Net cash provided by (used in) financing activities | 62,368 | 47,910 | |||
Net decrease in cash | 1,714 | 2,607 | |||
Cash - beginning of the period | 831 | $ 2,607 | |||
Cash - ending of the period | $ 2,545 | $ 2,607 | $ 2,545 | $ 831 | $ 2,607 |
Organization and Nature of Oper
Organization and Nature of Operations | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Organization and Nature of Operations | NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS Horizon Minerals Corp. (the Company) was incorporated under the laws of the State of Delaware on May 11, 2011. The Company is currently seeking to acquire a business. The Companys financial statements are prepared on a going concern basis in accordance with US generally accepted accounting principles (GAAP) which contemplate the realization of assets and discharge of liabilities and commitments in the normal course of business. The Company has funded its operations through the issuance of capital stock and debt. 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. There is no certainty that further funding will be available as needed. These factors raise substantial doubt about the ability of the Company to continue operating as a going concern. The Companys ability to continue its operations as a going concern, realize the carrying value of its assets, and discharge its liabilities in the normal course of business is dependent upon its ability to raise new capital sufficient to fund its commitments and ongoing losses, and ultimately on generating profitable operations. 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. On April 6, 2015, the Company entered into a share purchase agreement (the "Agreement') to acquire all of the issued and outstanding shares of Boomchat Inc. (Boomchat). In consideration, the Company will issue 40,000,000 common shares and make a cash payment of $50,000 (the "Development Payment") to Boomchats sole shareholder, Dan Clayton. The Development Payment was due on April 16, 2015 (fully paid May 22, 2015) and is non-refundable. Concurrent with closing of the acquisition, the Company's President, will surrender 30,000,000 shares of the Companys common stock held by him for cancellation. Following the closing of the acquisition, the Company will change its name to Boomchat Inc. to reflect its new business and Mr. Clayton will be appointed as a director and President of the Company. Closing is subject to a number of conditions, including customary due diligence and the delivery by Boomchat of the financial statements for Boomchat required to be filed by Horizon with the SEC. |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Basis of Presentation | NOTE 2 - BASIS OF PRESENTATION The unaudited interim financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the financial statements included in the Annual Report on Form 10-K of the Company for the year ended December 31, 2014. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2015, are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. For further information, these unaudited interim financial statements and the related notes should be read in conjunction with the Companys audited financial statements for the year ended December 31, 2014, included in the Companys report on Form 10-K. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Related Party Transactions | NOTE 3 - RELATED PARTY TRANSACTIONS As at June 30, 2015, $4,797 (December 31, 2014 - $5,172) had been received in advances from the sole director of the Company. The amounts are due on demand, bear no interest, and are unsecured. During the period ended June 30, 2015, the Company accrued consulting fees of $18,000 (June 30, 2014 - $Nil to Robert Fedun, CEO and CFO of the Company. As of June 30, 2015, $39,422 (December 31, 2014 - $18,000) is included in accounts payable. |
Third Party Advances Disclosure
Third Party Advances Disclosure | 6 Months Ended |
Jun. 30, 2015 | |
Notes | |
Third Party Advances Disclosure | NOTE 4 - THIRD PARTY ADVANCES As at June 30, 2015 the Company had received advances from a third party of $62,368 (December 31, 2014 - $Nil). The amounts are due on demand, bear no interest, and are unsecured. |
Organization and Nature of Op11
Organization and Nature of Operations (Details) - 6 months ended Jun. 30, 2015 - Share purchase agreement, Boomchat - USD ($) | Total |
Common stock to be issued | 40,000,000 |
Cash payment for acquisition | $ 50,000 |
Common stock to be surrendered and cancelled by the Company's President | 30,000,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Due to related parties | $ 4,797 | $ 5,172 |
Sole director and officer - advance | ||
Due to related parties | 4,797 | 5,172 |
CEO and CFO | ||
Consulting fees incurred from a related party | 18,000 | |
Accounts payable related party | $ 39,422 | $ 18,000 |
Third Party Advances Disclosu13
Third Party Advances Disclosure (Details) | Jun. 30, 2015USD ($) |
Details | |
Third party advances | $ 62,368 |