Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Nov. 14, 2014 | Jun. 30, 2013 | |
Document and Entity Information: | ' | ' | ' |
Entity Registrant Name | 'BullsNBears.com, Inc. | ' | ' |
Document Type | '10-Q | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0001543272 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 11,680,000 | ' |
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 | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Entity Public Float | ' | ' | $111,680 |
Statement_of_Financial_Positio
Statement of Financial Position (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Balance Sheets | ' | ' |
Cash and Cash Equivalents, at Carrying Value | $48,095 | $829 |
Other Assets, Current | 596 | 735 |
Assets, Current | 48,691 | 1,564 |
PropertyPlantAndEquipmentNet | 13,610 | 19,140 |
Finite-Lived Intangible Assets, Net | 91,250 | 113,750 |
Assets, Noncurrent | 104,860 | 132,890 |
Assets | 153,551 | 134,454 |
AccountsPayableAndAccruedLiabilities | 43,444 | 15,452 |
AccountsPayableRelatedPartiesCurrent | 303,800 | 207,800 |
NotesPayableRelatedPartiesCurrent | 151,706 | 120,790 |
Convertible Notes payable related party | 21,716 | 21,716 |
Accrued Interest Related Parties | 6,430 | 2,535 |
ConvertibleNotesPayable | 1,192,200 | 977,200 |
Accrued Liabilities, Current | 91,205 | 32,199 |
Other Liabilities, Current | 50,000 | ' |
Liabilities, Current | 1,860,501 | 1,377,692 |
Liabilities | 1,860,501 | 1,377,692 |
Common Stock, Value, Issued | 1,168 | 1,168 |
AdditionalPaidInCapital | 299,058 | 218,458 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -2,007,176 | -1,462,864 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -1,706,950 | -1,243,238 |
Liabilities and Equity | $153,551 | $134,454 |
Statement_of_Financial_Positio1
Statement of Financial Position - Parenthetical (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Balance Sheets | ' | ' |
Preferred Stock, Par Value | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Par Value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares Issued | 11,680,000 | 11,680,000 |
Common Stock, Shares Outstanding | 11,680,000 | 11,680,000 |
Statement_of_Income
Statement of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Statement | ' | ' | ' | ' |
Sales Revenue, Services, Net | $50,000 | ' | $94,183 | ' |
Revenues | ' | ' | 44,183 | ' |
Gross Profit | ' | ' | 44,183 | ' |
Subscription Content Expense | ' | 21,742 | 7,984 | 21,742 |
DepreciationAndAmortization | 9,343 | 9,343 | 28,029 | 27,905 |
General and Administrative Expense | 17,365 | 238,520 | 377,840 | 765,612 |
Operating Expenses | 26,708 | 269,605 | 413,853 | 815,259 |
Operating Income (Loss) | -26,708 | -269,605 | -369,670 | -815,259 |
Interest Expense | 32,623 | 14,314 | 174,641 | 46,145 |
Interest and Debt Expense | 32,623 | 14,314 | 174,641 | 46,145 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -59,331 | -283,919 | -544,311 | -861,404 |
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | -59,331 | -283,919 | -544,311 | -861,404 |
Net Income (Loss) Attributable to Parent | ' | ' | ($544,311) | ($861,404) |
Earnings Per Share, Basic | ($0.01) | $0 | ($0.05) | ($0.07) |
Weighted Average Number of Shares Outstanding, Basic | 11,680,000 | 11,680,000 | 11,680,000 | 11,680,000 |
Earnings Per Share, Diluted | ($0.01) | ($0.02) | ($0.05) | ($0.07) |
Weighted Average Number of Shares Outstanding, Diluted | 11,680,000 | 11,680,000 | 11,680,000 | 11,680,000 |
Statement_of_Cash_Flows
Statement of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Statement of Cash Flows | ' | ' |
Net Income (Loss) Attributable to Parent | ($544,311) | ($861,404) |
Depreciation | 28,029 | 27,905 |
Amortization Of Debt Discount Premium | 80,600 | ' |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | 139 | -1,057 |
Increase (Decrease) in Accounts Payable and Accrued Liabilities | 86,998 | -979 |
IncreaseDecreaseInAccountsPayableRelatedParties | 149,895 | 72,934 |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | 345,661 | 98,803 |
Net Cash Provided by (Used in) Operating Activities | -198,650 | -762,601 |
Proceeds from Sale of Property, Plant, and Equipment | ' | -6,364 |
Net Cash Provided by (Used in) Investing Activities | ' | -6,364 |
Proceeds from (Repayments of) Notes Payable | 30,916 | -134,708 |
Proceeds from (Repayments of) Related Party Debt | 215,000 | 893,000 |
Net Cash Provided by (Used in) Financing Activities | 245,916 | 758,292 |
Cash and Cash Equivalents, Period Increase (Decrease) | 47,266 | -10,673 |
Cash and Cash Equivalents, at Carrying Value | 829 | 10,673 |
Cash and Cash Equivalents, at Carrying Value | $48,095 | ' |
Nature_of_Operations_and_Conti
Nature of Operations and Continuance of Business | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Nature of Operations and Continuance of Business | ' |
1. Nature of Operations and Continuance of Business | |
The unaudited interim financial statements included herein have been prepared by BullsnBears.com, Inc. (the “Company”) in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (the “SEC”). We suggest that these interim financial statements be read in conjunction with the audited financial statements and notes thereto included in our Form 10-K for the year ended December 31, 2013, as filed with the SEC. We believe that 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 and that the disclosures made are adequate to make the information not misleading. 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 contained in the audited financial statements for the most recent fiscal year as reported in Form 10-K have been omitted. | |
The company has limited operations and is considered to be in the development stage. In the year 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the company to remove the inception to date information and all references to development stage | |
Liquidity_Disclosure
Liquidity Disclosure | 9 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
Liquidity Disclosure | ' |
2. Going Concern | |
These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period from inception through September 30, 2014, the Company has generated minimal revenues and has an accumulated deficit of $2,007,175. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, its ability to generate profits from the Company’s future operations, identify future investment opportunities and obtain the necessary debt or equity financing. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
Related Party Transactions | ' | ||
3. Related Party Transactions | |||
Notes and Convertible Notes Payable | |||
On October 20, 2012, in accordance with an Asset Purchase Agreement, the Company and a current officer and director of the Company entered into a one year, 6% Promissory Note for $150,000, prior to him joining the Company. Accrued interest on the Promissory Note totaled $1,775 at December 31, 2012. During the nine months ended September 30, 2013, the Company repaid the note and a total of $2,405 in accrued interest. | |||
On October 31, 2012, the Company and an officer and director of the Company entered into a one year, 10% Senior Convertible Note for office equipment totaling $20,955 and supplies totaling $761, or a total of $21,716. The principal amount of the Senior Convertible Note can be convertible, at the sole option of the holder and in whole or in part, into shares of common stock of the Company at a conversion price to be determined by the Board of Directors of the Company at or prior to the maturity date. The Senior Convertible Note and the payment of the principal thereof and interest thereon shall at all times and in all respects constitute the Senior Indebtedness of the Company and shall not be junior or subordinate in right of payment to any other indebtedness of the Company. Accrued interest on the Senior Convertible Note totaled $4,154 at September 30, 2014. | |||
On December 31, 2012, the Company and an officer and director of the Company entered into a one-year, 10% Senior Convertible Note for cash advances totaling $20,700 and expenses paid on behalf of the company totaling $9,508, or a total of $30,208. During the nine months ended September 30, 2013, the Company repaid the note and a total of $375 in accrued interest. | |||
From May 2013 through September 2014, the Company borrowed a total of $188,975 and repaid $37,268 from James Palladino, an officer and director of the Company of short-term loans with and interest rate of 6% per annum. The balance of this note as of September 30, 2014 was $173,423. | |||
Consulting Expense | |||
At September 30, 2014 and December 31, 2013, the Company owes an officer $303,800 and $207,800, respectively, for consulting expense which is included in accounts payable - related party. | |||
9/30/14 | 12/31/13 | ||
Related Party Note Payable Jim-Paladino | 173,423 | 120,790 | |
Interest rate - Related party note | 6% | 6% | |
Due to Jim Paladino for Consulting fees | 303,800 | 207,800 | |
Convertible Note payable Related Party | - | 21,716 | |
Accrued Interest - Related party Notes | 6,430 | 2,535 | |
Convertible_Promissory_Notes_P
Convertible Promissory Notes Payable | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
Convertible Promissory Notes Payable | ' | ||
Convertible Promissory Notes Payable | |||
During the year ended December 31, 2013, the Company issued Convertible Promissory Notes (the “Notes”) for cash totaling $977,200. The Notes bear interest at 10% per annum, are unsecured and due in one year from the date of issuance. At the maturity date, the holders of the Notes have the right to convert the unpaid principal and accrued interest into shares of common stock of the Company at a price of $1.00 per share. | |||
During the nine months ended September 30, 2014, the Company issued six Convertible Promissory Notes for cash totaling $215,000. The Notes bear interest at 10% per annum, are unsecured and due in one year from the date of issuance. At maturity, the holders of the Notes have the right to convert the unpaid principal and accrued interest into shares of common stock of the Company at a price of $1.00 per share. | |||
During the nine months ended September 30, 2014, six Convertible Promissory Notes became due and convertible at a discount to the then current market price in accordance with terms of the Notes. As a result, the Company recorded a total of $80,600 in debt discount to interest expense related to the beneficial conversion feature during the nine months ended September 30, 2014. At September 30, 2014 and December 31, 2013, the Company had no unamortized debt discount on Convertible Promissory Notes. | |||
During the nine months ended September 30, 2014, the Company issued one Preferred Stock Convertible Promissory Note (“Preferred Stock Note”) for $5,000 cash. The Preferred Stock Note bears interest at 10% per annum, is unsecured and due in one year from the date of issuance. At maturity, the holder of the Preferred Stock Note has the right to convert the unpaid principal and accrued interest into shares of Series A Preferred Stock of the Company at a price of $1.25 per share. Additionally, the holder may then convert the Series A Preferred Stock into shares of common stock of the Company at $1.25 per share. | |||
Accrued interest on the Notes and Preferred Stock Note was $91,205 and $32,199 at September 30, 2014 and December 31, 2013, respectively. | |||
As of September 30, 2014, $688,000 worth of Notes which have matured and have not converted into common shares. If Note holders do not elect to convert their debt into common stock, the Company may need to raise additional capital to retire the Notes. | |||
9/30/14 | 12/31/13 | ||
Convertible Promissory note | $ 1,192,200 | $ 977,200 | |
Interest Rate | 10% | 10% | |
Conversion Price | 1.00 | 1.00 | |
Accrued Interest Convertible notes | 91,205 | 32,199 | |
Matured notes not converted | 688,000 | - | |
Convertible Preferred Stock | 5,000 | - | |
Interest Rate - Preferred | 10% | 10% | |
Conversion Price - Preferred | 1.15 | 1.15 | |
Liquidity_Disclosure_Going_Con
Liquidity Disclosure: Going Concern Note (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Going Concern Note | ' |
2. Going Concern | |
These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period from inception through September 30, 2014, the Company has generated minimal revenues and has an accumulated deficit of $2,007,175. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, its ability to generate profits from the Company’s future operations, identify future investment opportunities and obtain the necessary debt or equity financing. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Details | ' | ' |
Related Party Note Payable Jim-Paladino | $173,423 | $120,790 |
Interest rate - Related party note | 0.06 | 0.06 |
Due to Jim Paladino for Consulting fees | 303,800 | 207,800 |
Convertible Note payable Related Party | ' | 21,716 |
Accrued Interest - Related party Notes | $6,430 | $2,535 |
Convertible_Promissory_Notes_P1
Convertible Promissory Notes Payable (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Details | ' | ' |
Convertible Promissory note | $1,192,200 | $977,200 |
Interest Rate | 0.1 | 0.1 |
Conversion Price | 1 | 1 |
Accrued Interest Convertible notes | 91,205 | 32,199 |
Matured notes not converted | 688,000 | ' |
Convertible Preferred Stock | 5,000 | ' |
Interest Rate - Preferred | 0.1 | 0.1 |
Conversion Price - Preferred | $1.15 | $1.15 |