Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Eurocan Holdings Ltd. | ' |
Entity Central Index Key | '0001534708 | ' |
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 | ' | 12,710,000 |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
ASSETS | ' | ' |
Cash | $1,296 | $5,899 |
Accounts receivable | 2,595 | 300 |
Total Current Assets | 3,891 | 6,199 |
Security Deposit | 0 | 3,075 |
Total Assets | 3,891 | 9,274 |
LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | ' |
Accounts payable | 37,458 | 37,771 |
Accrued liabilities | 26,527 | 9,583 |
Notes payable (Note 3) | 202,000 | 155,000 |
Total Liabilities | 265,985 | 202,354 |
Contingencies and Commitment | ' | ' |
Stockholders' Deficit | ' | ' |
Preferred Stock, 100,000,000 shares authorized, par value $0.0001; None issued and outstanding | 0 | 0 |
Common Stock, 900,000,000 shares authorized, par value $0.0001; 12,710,000 and 12,710,000 shares issued and outstanding, respectively | 1,271 | 1,271 |
Additional Paid-In Capital | 46,711 | 46,711 |
Deficit | -310,076 | -241,062 |
Total Stockholders' Deficit | -262,094 | -193,080 |
Total Liabilities and Stockholders' Deficit | $3,891 | $9,274 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Stockholders' Deficit | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, Authorized | 100,000,000 | 100,000,000 |
Preferred stock, Issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, Authorized | 900,000,000 | 900,000,000 |
Common stock, Issued | 12,710,000 | 12,710,000 |
Common stock, outstanding | 12,710,000 | 12,710,000 |
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] | ' | ' | ' | ' |
Revenue | $11,395 | $37,921 | $60,758 | $81,396 |
Cost of sales | 1,352 | 5,763 | 7,479 | 7,209 |
Gross Margin | 10,043 | 32,158 | 53,279 | 74,187 |
Expenses | ' | ' | ' | ' |
Rent | 0 | 6,200 | 7,192 | 17,089 |
General and administrative | 10,927 | 14,471 | 34,235 | 28,024 |
Management fees (Note 4) | 3,075 | 7,100 | 14,275 | 11,965 |
Professional fees | 18,626 | 19,650 | 59,073 | 64,288 |
Total operating expenses | 32,628 | 47,421 | 114,775 | 121,366 |
Other Income (Expense) | ' | ' | ' | ' |
Other income | 0 | 0 | 4,405 | 8,805 |
Interest and bank charges | -4,418 | -3,114 | -11,923 | -9,450 |
Total Other Income (Expense) | -4,418 | -3,114 | -7,518 | -645 |
Net Loss | ($27,003) | ($18,377) | ($69,014) | ($47,824) |
Net Loss Per Share - Basic and Diluted | $0 | $0 | $0 | $0 |
Weighted Average Shares Outstanding - Basic and Diluted | 12,710,000 | 12,710,000 | 12,710,000 | 12,710,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Operating Activities | ' | ' |
Net loss for the period | ($69,014) | ($47,824) |
Adjustment to reconcile net loss to net cash used in operating activities: | ' | ' |
Gain on sale of property and equipment | -4,405 | 0 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -2,295 | -1,565 |
Prepaid expenses and other current assets | 0 | 2,800 |
Security deposits | 3,075 | -3,075 |
Deferred revenue | 0 | -14,475 |
Accounts payable and accrued liabilities | 16,631 | -1,200 |
Net Cash Used In Operating Activities | -56,008 | -65,339 |
Cash Flows From Investing Activities | ' | ' |
Proceeds from sale of property and equipment | 4,405 | 0 |
Net Cash Provided By Investing Activities | 4,405 | 0 |
Financing Activities | ' | ' |
Proceeds from notes payable | 47,000 | 75,000 |
Principal payments on related party debt | 0 | -4,610 |
Net Cash Provided By Financing Activities | 47,000 | 70,390 |
Increase (decrease) in Cash | -4,603 | 5,051 |
Cash - Beginning of Period | 5,899 | 2,738 |
Cash - End of Period | 1,296 | 7,789 |
Supplemental Disclosures: | ' | ' |
Income taxes paid | 6,629 | 1,796 |
Interest paid | $50 | $9,019 |
1_Basis_of_Presentation
1. Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
1. Basis of Presentation | ' |
The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the Company’s audited 2012 annual financial statements and notes thereto. In the opinion of management, all adjustments consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in the Company’s 2012 annual financial statements have been omitted. |
2_Going_Concern
2. Going Concern | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
2. Going Concern | ' |
The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since inception, the Company has incurred losses of $310,076. In addition, the Company generated negative cash flows from operations during the year ended December 31, 2012. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time. | |
If necessary, the Company will pursue additional equity and/or debt financing while managing cash flows from operations in an effort to provide funds to meet its obligations on a timely basis and to support future business development. | |
The consolidated financial statements do not contain any adjustments to reflect the possible future effects on the classification of assets or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern. |
3_Notes_Payable
3. Notes Payable | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
3. Notes Payable | ' |
a. On September 30, 2005, the Company received $30,000 and issued a promissory note to a non-related party. This amount is non-interest bearing, unsecured, and due on demand. | |
b. On October 30, 2007, the Company received advances totaling $50,000 and issued a promissory note to a non-related party. This amount is non-interest bearing, unsecured, and due on demand. | |
c. During the period ended December 31, 2012 the Company received advances totaling $75,000 and issued promissory notes to a non-related party. The notes bear interest at 5%, is unsecured, and is due on demand. | |
d. During the nine months ended September 30, 2013 the Company received advances totaling $47,000 and issued promissory notes to non-related parties. The notes bear interest at 5%, are unsecured, and are due on demand. |
4_Related_Party_Transactions
4. Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
4. Related Party Transactions | ' |
During the nine months ended September 30, 2013 a director of the Company received $14,275 as compensation for management services provided to the Company. |
5_Subsequent_Events
5. Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
5. Subsequent Events | ' |
On October 18, 2013, the Company issued an unsecured convertible note debenture in the principal amount of $202,000 to Building 400 Ltd. (the “Holder”), an unrelated party, in exchange for promissory notes previously issued by the Company in the aggregate principal amount of $202,000. The convertible debenture matures on December 31, 2018, and bears interest at 5% per annum, payable on the maturity date. Principal and accrued interest secured by the convertible debenture is convertible at any time by the Holder into shares of the Company’s common stock at a conversion rate of $0.01 per share. On the date of issuance, the convertible debenture was exercisable into 20,200,000 shares of the Company’s common stock. | |
1_Basis_of_Presentation_Polici
1. Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Basis Of Presentation Policies | ' |
Basis of Presentation | ' |
The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the Company’s audited 2012 annual financial statements and notes thereto. In the opinion of management, all adjustments consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in the Company’s 2012 annual financial statements have been omitted. |
2_Going_Concern_Details_Narrat
2. Going Concern (Details Narrative) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Going Concern Details Narrative | ' | ' |
Losses Incurred From Opreration, since inception | ($310,076) | ($241,062) |
3_Notes_Payable_Details_Narrat
3. Notes Payable (Details Narrative) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Notes Payable Details Narrative | ' | ' |
Advance Received From Non Related Party | $47,000 | $75,000 |
Unsecured Note Bearing Interest | 5.00% | ' |
4_Related_Party_Transactions_D
4. Related Party Transactions (Details Narrative) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Related Party Transactions Details Narrative | ' | ' | ' | ' |
Compensation For Management Services | $3,075 | $7,100 | $14,275 | $11,965 |