Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 12, 2013 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Home Treasure Finders, Inc. | ' |
Entity Central Index Key | '0001527102 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 11,725,800 |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current Assets: | ' | ' |
Cash | $26,152 | $9,408 |
Prepaid expenses | 70 | 280 |
Total current assets | 26,222 | 9,688 |
Liabilities: | ' | ' |
Accounts payable | 12,345 | 15,959 |
Accrued salary | 19,612 | 22,500 |
Accrued liabilities | 18,527 | 1,686 |
Accrued interest | 1,135 | 937 |
Related party note payable | 7,443 | 4,943 |
Total current liabilities | 59,062 | 46,025 |
Shareholders' equity (deficit): | ' | ' |
Common stock, no par value; 100,000,000 shares authorized, 11,725,800 shares issued and outstanding, respectively | 57,302 | 57,302 |
Additional paid in capital | 96,476 | 96,476 |
Accumulated deficit | -186,618 | -190,115 |
Total shareholder's equity (deficit) | -32,840 | -36,337 |
Total liabilities and shareholders' equity (deficit) | $26,222 | $9,688 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Stockholders Equity | ' | ' |
Common Stock par value | $0 | $0 |
Common Stock Authorized | 100,000,000 | 100,000,000 |
Common Stock Issued | 11,725,800 | 11,725,800 |
Common Stock Outstanding | 11,725,800 | 11,725,800 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Statement [Abstract] | ' | ' | ' | ' |
Commission income | $37,023 | $10,020 | $89,063 | $10,020 |
Property management income | 17,039 | ' | 26,787 | ' |
Revenue | 54,062 | 10,020 | 115,850 | 10,020 |
Operating expenses: | ' | ' | ' | ' |
Commision expense | 5,553 | 1,498 | 13,359 | 1,498 |
Professional fees | 3,669 | 2,972 | 15,884 | 11,073 |
General and Administrative | 32,750 | 13,269 | 82,912 | 34,703 |
Total operating expenses | 41,972 | 17,739 | 112,155 | 47,274 |
Operating income (loss) | 12,090 | -7,719 | 3,695 | -37,254 |
Other Expense | ' | ' | ' | ' |
Interest expense | -101 | -192 | -198 | -827 |
Total other expense | -101 | -192 | -198 | -827 |
Income (loss) before taxes | 11,989 | -7,911 | 3,497 | -38,081 |
Income tax expense | ' | ' | ' | ' |
Net Income (loss) | $11,989 | ($7,911) | $3,497 | ($38,081) |
Basic and diluted loss per share | $0 | $0 | $0 | $0 |
Basic and diluted weighted average common shares outstanding | 11,725,800 | 11,725,800 | 11,725,800 | 11,526,530 |
Shareholders_Equity
Shareholders Equity (USD $) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning Balance, value at Dec. 31, 2011 | $27,302 | $96,476 | ($144,305) | ($20,527) |
Beginning Balance, shares at Dec. 31, 2011 | 11,425,800 | ' | ' | ' |
Common stock issued for cash, shares | 300,000 | ' | ' | ' |
Common stock issued for cash, value | 30,000 | ' | ' | 30,000 |
Net Income (loss) | ' | ' | -45,810 | -45,810 |
Ending Balance, value at Dec. 31, 2012 | 57,302 | 96,476 | -190,115 | -36,337 |
Ending Balance, shares at Dec. 31, 2012 | 11,725,800 | ' | ' | ' |
Net Income (loss) | ' | ' | 3,497 | 3,497 |
Ending Balance, value at Sep. 30, 2013 | $57,302 | $96,476 | ($186,618) | ($32,840) |
Ending Balance, shares at Sep. 30, 2013 | 11,725,800 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' |
Net income (loss) | $3,497 | ($38,081) |
Changes in operating assets and liabilities: | ' | ' |
Decrease in prepaid expense | 210 | ' |
Decrease in accrued salary | -2,888 | ' |
Increase in accrued interest | 198 | 827 |
Increase in accrued liabilities | 16,841 | 15,000 |
Increase (decrease) in accounts payable | -3,614 | 1,261 |
Net cash provided by (used in) operating activities | 14,244 | -20,993 |
Cash flows from investing activities: | ' | ' |
Cash flows from financing activities: | ' | ' |
Proceeds from common stock subscription | ' | 30,000 |
Proceeds from related party payable | 5,000 | 10,000 |
Payment of related party payable | -2,500 | -12,000 |
Net cash provided by financing activities | 2,500 | 28,000 |
Net change in cash | 16,744 | 7,007 |
Cash, beginning of period | 9,408 | 106 |
Cash, end of period | 26,152 | 7,113 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid during the period for Income taxes | ' | ' |
Cash paid during the period for Interest | ' | ' |
1_Basis_of_Presentation
1 Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Note 1: Basis of Presentation | |
The accompanying financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The interim financial statements reflect all adjustments, consisting of normal recurring adjustments which, in the opinion of management, are necessary to present a fair statement of the results for the period. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the December 31, 2012 financial statements and notes thereto included. The results of operations for the period ended September 30, 2013, are not necessarily indicative of the operating results for the year ended December 31, 2013. |
2_GOING_CONCERN
2 GOING CONCERN | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
GOING CONCERN | ' |
Note 2: Going Concern | |
The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements, since inception the Company has incurred losses in all quarters except the quarters ended March 31, 2013 and September 30, 2013 and it has a limited operating history. These factors, among others, may indicate that the Company will be unable to continue as a going concern for a reasonable period of time. | |
The financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis and ultimately to attain profitability. The Company intends to seek additional funding through equity offerings to fund its business plan. There is no assurance that the Company will be successful in raising additional funds. |
3_RELATED_PARTY_TRANSACTIONS
3 RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
Note 3: Related Party Transactions | |
During the nine months ended September 30, 2013, the related party payable had a net increase of $2,500. The balance of the related party payable was $7,443 and $4,943 as of September 30, 2013 and December 31, 2012, respectively. This payable is due on demand and has an interest rate of 8%. Accrued interest on this payable was $1,135 at September 30, 2013. Beginning in 2012, the Company began accruing salary of $2,500 per month to the CEO for his services. Effective April 1, 2013, the base salary to be paid to the CEO increased to $5,500 per month. The balance accrued at September 30, 2013 was $19,612. | |
Effective April 1, 2013 all property management activities, revenues and expenses in connection with CW Properties, a property management company owned by the CEO, were transferred to a wholly owned subsidiary of Home Treasure Finders, Inc. All net revenue earned by CW Properties beginning April 1 has been booked as consolidated revenue of Home Treasure Finders, Inc. |
4_SUBSEQUENT_EVENTS
4 SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
Note 4: Subsequent Events | |
The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no events that require disclosure as of the date of issuance. |
3_RELATED_PARTY_TRANSACTIONS_D
3 RELATED PARTY TRANSACTIONS (Details Narrative) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Related Party Transactions [Abstract] | ' | ' |
Payment to related party payable | $2,500 | $17,000 |
Balance of the related party payable | 7,443 | 4,943 |
Interest rate | 8.00% | 8.00% |
Accrued interest on this payable | 1,135 | 937 |
Monthly salary | 5,500 | 2,500 |
Accrued salary | $19,612 | $22,500 |