SSTL 10-K 11 Apr 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Apr. 07, 2014	Jun. 30, 2013
Document And Entity Information	'	'	'
Entity Registrant Name	'SSTL, Inc.	'	'
Entity Central Index Key	'0001534298	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-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 Public Float	'	'	$4,063,541
Entity Common Stock, Shares Outstanding	'	16,254,167	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2013	'	'

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2013	Dec. 31, 2012
Current assets	'	'
Cash	$44,055	$5,234
Accounts receivable - related party	0	15,000
Total current assets	44,055	20,234
Fixed assets - net	65,415	154,861
Total Assets	109,470	175,095
Current liabilities	'	'
Accounts payable	9,537	3,302
Accrued Expenses	900	0
Accrued interest payable	402	5,342
Related party note payable	25,000	25,000
Related party line of credit	175,000	175,000
Total current liabilties	210,839	208,644
Total Liabilities	210,839	208,644
Stockholders' Equity	'	'
Preferred stock, $.001 par value; 25,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $.001 par value; 100,000,000 shares authorized; 16,254,167 shares issued and outstanding	16,254	16,254
Additional paid in capital	419,496	419,496
Deficit accumulated during the development stage	-537,119	-469,299
Total Stockholders' Deficit	-101,369	-33,549
Total Liabilities and Stockholders' Deficit	$109,470	$175,095

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]	'	'
Preferred stock par value	$0.00	$0.00
Preferred stock shares authorized	25,000	25,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$0.00	$0.00
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	16,254,167	16,254,167
Common stock shares outstanding	16,254,167	16,254,167

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended		38 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Income Statement [Abstract]	'	'	'
Revenues - related party	$60,000	$60,000	$135,000
Operating expenses:	'	'	'
Amortization & depreciation	65,000	85,000	225,139
General and administrative	60,524	113,779	442,536
Total operating expenses	125,524	198,779	667,675
Gain (loss) from operations	-65,524	-138,779	-532,675
Other income (expense):	'	'	'
Insurance income	0	0	19,077
Gain on sale of equipment	16,555	0	16,555
Interest expense - related party	-18,851	-17,568	-40,076
Total income (expense)	-2,296	-17,568	-4,444
Income (loss) before provision for income taxes	-67,820	-156,347	-537,119
Provision for income tax	0	0	0
Net income (loss)	($67,820)	($156,347)	($537,119)
Net income (loss) per share: - Basic and fully diluted	$0	($0.01)	'
Weighted average number of common shares outstanding - basic and diluted	16,254,167	16,254,167	'

Statements_of_Changes_in_Stock

Statements of Changes in Stockholders Equity (Deficit) (USD $)	Common Stock	Additional Paid-In Capital	Deficit Accumulated During the Development Stage	Total
Beginning balance, value at Nov. 09, 2010	$0	$0	$0	$0
Beginning balance, shares at Nov. 09, 2010	0	'	'	'
Net income (loss)	'	'	0	0
Ending balance, value at Dec. 31, 2010	0	0	0	0
Beginning balance, shares at Dec. 31, 2010	0	'	'	'
Shares issued for assets, shares	9,666,667	'	'	'
Shares issued for assets, value	9,667	280,333	'	290,000
Capital contributions - related party	'	5,000	'	5,000
Shares issued for cash, shares	1,887,500	'	'	'
Shares issued for cash, value	1,887	34,863	'	36,750
Shares issued for services, shares	4,700,000	'	'	'
Shares issued for services, value	4,700	99,300	'	104,000
Net income (loss)	'	'	-312,952	-312,952
Ending balance, value at Dec. 31, 2011	16,254	419,496	-312,952	122,798
Ending balance, shares at Dec. 31, 2011	16,254,167	'	'	'
Capital contributions - related party	'	'	'	0
Net income (loss)	'	'	-156,347	-156,347
Ending balance, value at Dec. 31, 2012	16,254	419,496	-469,299	-33,549
Ending balance, shares at Dec. 31, 2012	16,254,167	'	'	'
Capital contributions - related party	'	'	'	0
Net income (loss)	'	'	-67,820	-67,820
Ending balance, value at Dec. 31, 2013	$16,254	$419,496	($537,119)	($101,369)
Ending balance, shares at Dec. 31, 2013	16,254,167	'	'	'

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended		38 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Cash Flows From Operating Activities:	'	'	'
Net income (loss)	($67,820)	($156,347)	($537,119)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:	'	'	'
Amortization & depreciation	65,000	85,000	225,139
Compensatory stock issuances	0	0	104,000
Gain on fixed asset sales	-16,555	0	-16,555
Changes in operating assets and liabilities	'	'	'
Accounts receivable	15,000	0	0
Accounts payable and accrued expenses	2,196	-3,466	35,840
Net cash provided by (used for) operating activities	-2,179	-74,813	-188,695
Cash Flows From Investing Activities:	'	'	'
Fixed assets - purchases	0	0	-25,000
Fixed assets - sales proceeds	41,000	0	41,000
Net cash provided by (used for) investing activities	41,000	0	16,000
Cash Flows From Financing Activities:	'	'	'
Note payable - borrowings	0	75,000	225,000
Note payable - payments	0	0	-50,000
Issuance of stock for cash	0	0	36,750
Paid in capital	0	0	5,000
Net cash provided by (used for) financing activities	0	75,000	216,750
Net Increase (Decrease) In Cash	38,821	187	44,055
Cash At The Beginning Of The Period	5,234	5,047	0
Cash At The End Of The Period	44,055	5,234	44,055
Schedule Of Non-Cash Investing And Financing Activities	'	'	'
Common stock issued for assets	0	0	290,000
Supplemental Disclosure:	'	'	'
Cash paid for interest	23,790	13,157	39,673
Cash paid for income taxes	$0	$0	$0

1_Organization_Operations_and_

1. Organization, Operations and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
1. Organization, Operations and Summary of Significant Accounting Policies	'
	SSTL, Inc. (the “Company”) was incorporated in the State of Nevada on November 10, 2010. The Company designs and assembles motorsport racing vehicles for its own use, and plans to compete in organized racing events. The Company has currently only conducted limited activities and is considered to be in the development stage.
	Use of estimates and Assumptions
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect 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 highly liquid investments with an original maturity of three months or less as cash equivalents.
	Accounts receivable
	The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary. At December 31, 2013 the Company had no balance of accounts receivable and consequently no allowance for doubtful accounts.
	Property and equipment
	Property and equipment are recorded at cost and depreciated under straight line methods over each item's estimated useful life. The Company uses a three year life for racing vehicles, and five years for transport vehicles and furniture and fixtures.
	Revenue recognition
	The Company shall follow the guidance of the Securities and Exchange Commission's Staff Accounting Bulletin 104 for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when it has persuasive evidence of an arrangement that the services have been rendered to the customer, the sales price is fixed or determinable, and collectability is reasonably assured. Subscription revenues shall be recognized over the period benefited. Deferred revenues shall be recorded when cash has been collected, however the related service has not yet been provided.
	Advertising costs
	Advertising costs are expensed as incurred. The Company recorded no advertising costs for during the twelve months ended December 31, 2013 or 2012.
	Income tax
	The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
	Net income (loss) per share
	The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.
	The Company had no potentially dilutive debt or equity instruments issued and outstanding during the twelve months ended December 31, 2013 or 2012.
	Financial Instruments
	The carrying value of the Company’s financial instruments, as reported in the accompanying balance sheets, approximates fair value due to their short term maturities.
	Long-Lived Assets
	In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that may suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.
	Products and services, geographic areas and major customers
	The Company currently earns revenue from leasing its racing vehicles on a month to month basis. All Company revenues in 2013 and 2012 were from one customer, a company related by common control.
	Stock based compensation
	The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable.
	Dividends
	The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.
	Recent accounting pronouncements
	We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe that the future adoption of any such pronouncements may be expected to cause a material impact on our financial condition or the results of our operations.

2_Going_Concern

2. Going Concern	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
2. Going Concern	'
	The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. As at December 31, 2013 the Company had current assets, comprising of cash, of $44,055, current liabilities of $210,839 and a working capital deficit of $166,784. The Company has incurred losses since Inception to December 31, 2013 of $537,119 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that these events will be satisfactorily completed.
	Continued losses could cause the Company to be unable to continue in the racing industry or to meet debt obligations. The Company believes that racing requires significant capital outlays on a continual basis to successfully fund operations, but with adequate funding that profitable operations can be achieved.
	The Company may raise additional capital through the sale of its equity securities, through an offering of debt securities, or through borrowings from financial institutions. By doing so, the Company hopes to generate profits from racing activities. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as a going concern.

3_Fixed_Assets

3. Fixed Assets	12 Months Ended
	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'
3. Fixed Assets	'
	Fixed asset values recorded at cost are as follows:
		Dec. 31,			Dec. 31,
		2013			2012
	Racing vehicles and equipment	$	105,000		$	165,000
	Transport vehicles		150,000			150,000
			255,000			315,000
	Less accumulated depreciation		(189,585	)		(160,139	)
	Total	$	65,415		$	154,861
	On January 19, 2013, we sold two of our chassis for cash consideration $41,000 to an independent party and recognized a gain on sale of $16,555.
	Depreciation expense for the twelve months ended December 31, 2013 and 2012 was $65,000 and $85,000, respectively.

4_Related_Party_Note_Payable

4. Related Party Note Payable	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
4. Related Party Note Payable	'
	On May 31, 2011, a company controlled by our controlling shareholder loaned $25,000 to us and we executed an unsecured promissory note, bearing interest at 10% per annum. The note was renewed on May 31, 2013.
	This related party note payable of $25,000 was outstanding as at December 31, 2013 and 2012.

5_Related_Party_Line_of_Credit

5. Related Party Line of Credit	12 Months Ended
	Dec. 31, 2013
Related Party Line Of Credit	'
5. Related Party Line of Credit	'
	As at December 31, 2012 and 2013 the Company had drawn down $175,000 under a $500,000 unsecured line of credit with a company controlled by our controlling shareholder, bearing interest at 10% per annum, with $100,000 currently due and $75,000 due in January 2014. Interest expense for 2013 and 2012 was $18,851 and $17,568 with accrued interest payable at December 31, 2013 and 2012 of $402 and $5,342.

6_Related_Party_Transactions

6. Related Party Transactions	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
6. Related Party Transactions	'
	In 2011:
		·	a major shareholder was issued 9,666,667 common shares for fixed assets valued at $290,000, 1,000,000 shares for consulting services provided to the Company valued at $30,000, and purchased 100,000 shares for $1,000 cash.
		·	other founders were issued 3,700,000 common shares for services valued at $74,000.
	During the twelve months ended December 31, 2013 and 2012, all of the Company revenues of $60,000 in each year were derived from month to month equipment lease fees from a company controlled by a major shareholder.
	The Company occupies racing storage and shop space from a Company under common control on a verbal, as agreed, month to month basis and pays no rent.
	As at December 31, 2012 and 2013 the Company owed a company controlled by our controlling shareholder $25,000 for working capital advances, bearing interest at 10% and due on demand.
	As at December 31, 2012 and 2013 the Company had drawn down $175,000 under a $500,000 unsecured line of credit with a company controlled by our controlling shareholder, bearing interest at 10% per annum, with $100,000 currently due and $75,000 due in January 2014. Interest expense for 2013 and 2012 was $18,851 and $17,568 with accrued interest payable at December 31, 2013 and 2012 of $402 and $5,342.

7_Income_Taxes

7. Income Taxes	12 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
7. Income Taxes	'
	Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses. These loss carryovers are limited under the Internal Revenue Code should a significant change in ownership occur.
	At December 31, 2013 and 2012 the Company had net operating loss carryforwards of approximately $537,000 and $469,000 which begin to expire in 2031. The deferred tax asset of $108,000 and $94,000 created by the net operating loss has been offset by a 100% valuation allowance. The change in the valuation allowance for the years ended December 31, 2013 and 2012 was $14,000 and $31,000.

8_Subsequent_Events

8. Subsequent Events	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
8. Subsequent Events	'
	As of March 31, 2014 we borrowed a total of $175,000 from a related party pursuant to an unsecured demand promissory note. The note bears interest at 10% per annum.
	In accordance with ASC 855-10, “Subsequent Events” the Company has analyzed its operations subsequent to December 31, 2013 to the date these financial statements were available to be issued on April 11, 2014, and has determined that, other than as disclosed above, it does not have any material subsequent events to disclose in these financial statements.

1_Organization_Operations_and_1

1. Organization, Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Use of Estimates and Assumptions	'
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect 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 highly liquid investments with an original maturity of three months or less as cash equivalents.
Accounts receivable	'
	The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary. At December 31, 2013 the Company had no balance of accounts receivable and consequently no allowance for doubtful accounts.
Property and equipment	'
	Property and equipment are recorded at cost and depreciated under straight line methods over each item's estimated useful life. The Company uses a three year life for racing vehicles, and five years for transport vehicles and furniture and fixtures.
Revenue recognition	'
	The Company shall follow the guidance of the Securities and Exchange Commission's Staff Accounting Bulletin 104 for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when it has persuasive evidence of an arrangement that the services have been rendered to the customer, the sales price is fixed or determinable, and collectability is reasonably assured. Subscription revenues shall be recognized over the period benefited. Deferred revenues shall be recorded when cash has been collected, however the related service has not yet been provided.
Advertising costs	'
	Advertising costs are expensed as incurred. The Company recorded no advertising costs for during the twelve months ended December 31, 2013 or 2012.
Income tax	'
	The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Net income (loss) per share	'
	The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.
	The Company had no potentially dilutive debt or equity instruments issued and outstanding during the twelve months ended December 31, 2013 or 2012.
Financial Instruments	'
	The carrying value of the Company’s financial instruments, as reported in the accompanying balance sheets, approximates fair value due to their short term maturities.
Long-Lived Assets	'
	In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that may suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.
Products and services, geographic areas and major customers	'
	The Company currently earns revenue from leasing its racing vehicles on a month to month basis. All Company revenues in 2013 and 2012 were from one customer, a company related by common control.
Stock based compensation	'
	The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable.
Dividends	'
	The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.
Recent accounting pronouncements	'
	We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe that the future adoption of any such pronouncements may be expected to cause a material impact on our financial condition or the results of our operations.

3_Fixed_Assets_Tables

3. Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'
Fixed asset schedule	'
		Dec. 31,			Dec. 31,
		2013			2012
	Racing vehicles and equipment	$	105,000		$	165,000
	Transport vehicles		150,000			150,000
			255,000			315,000
	Less accumulated depreciation		(189,585	)		(160,139	)
	Total	$	65,415		$	154,861

1_Organization_Operations_and_2

1. Organization, Operations and Summary of Significant Accounting Policies (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'
Advertising costs	$0	$0

2_Going_Concern_Details_Narrat

2. Going Concern (Details Narrative) (USD $)	Dec. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Working capital	($166,784)

3_Fixed_Assets_Details

3. Fixed Assets (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Fixed assets, gross	$255,000	$315,000
Less accumulated depreciation	-189,585	-160,139
Fixed assets, net	65,415	154,861
Racing vehicles and equipment	'	'
Fixed assets, gross	105,000	165,000
Transport vehicles	'	'
Fixed assets, gross	$150,000	$150,000

3_Fixed_Assets_Details_Narrati

3. Fixed Assets (Details Narrative) (USD $)	12 Months Ended		38 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'	'	'
Proceeds from sale of asset	$41,000	$0	$41,000
Gain on sale of asset	16,555	0	16,555
Depreciation expense	$65,000	$85,000	'

4_Related_Party_Note_Payable_D

4. Related Party Note Payable (Details Narrative) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Debt Disclosure [Abstract]	'	'
Note payable related party	$25,000	$25,000

5_Related_Party_Line_of_Credit1

5. Related Party Line of Credit (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Related Party Line Of Credit	'	'
Line of credit maximum amount	$500,000	'
Line of credit drawn	175,000	'
Line of credit interest rate	10.00%	'
Line of credit outstanding	175,000	175,000
Interest expense	18,851	17,568
Interest payable	$402	$5,342

7_Income_Taxes_Details_Narrati

7. Income Taxes (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]	'	'
Net operating loss carryforwards	$537,000	$469,000
NOL expiration date	31-Dec-31	'
Deferred tax asset	108,000	94,000
Deferred tax asset valuation allowance	-108,000	-94,000
Deferred tax assets, net	0	0
Change in valuation allowance	$14,000	$31,000