Document_and_Entity_Informatio
Document and Entity Information (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | 15-May-15 | Jun. 30, 2014 | |
Document and Entity Information: | |||
Entity Registrant Name | BullsNBears.com, Inc. | ||
Document Type | 10-Q | ||
Document Period End Date | 31-Mar-15 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 1543272 | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 12,319,270 | ||
Entity Public Float | $188,900 | ||
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 | 2015 | ||
Document Fiscal Period Focus | Q1 |
Statement_of_Financial_Positio
Statement of Financial Position (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Balance Sheets | ||
Cash and Cash Equivalents, at Carrying Value | $15 | |
Other Assets, Current | 596 | 593 |
Assets, Current | 611 | 593 |
PropertyPlantAndEquipmentNet | 9,921 | 11,767 |
Finite-Lived Intangible Assets, Net | 76,250 | 83,750 |
Assets, Noncurrent | 86,171 | 95,517 |
Assets | 86,782 | 96,110 |
AccountsPayableAndAccruedLiabilities | 33,666 | 33,676 |
AccountsPayableRelatedPartiesCurrent | 412,900 | 375,799 |
NotesPayableRelatedPartiesCurrent | 178,816 | 180,927 |
Convertible Notes payable related party | 21,716 | 21,716 |
Accrued Interest Related Parties | 15,527 | 12,492 |
ConvertibleNotesPayable | 575,000 | 659,200 |
Accrued Liabilities, Current | 47,846 | 39,643 |
Notes Payable, Current | 10,000 | |
Liabilities, Current | 1,295,471 | 1,323,453 |
Liabilities | 1,295,471 | 1,323,453 |
Preferred Stock, Value, Issued | 1 | 1 |
Common Stock, Value, Issued | 1,232 | 1,223 |
AdditionalPaidInCapital | 967,788 | 882,313 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -2,177,710 | -2,110,880 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -1,208,689 | -1,227,343 |
Liabilities and Equity | $86,782 | $96,110 |
Statement_of_Financial_Positio1
Statement of Financial Position - Parenthetical (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
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 | 12,319,270 | 12,228,650 |
Common Stock, Shares Outstanding | 12,319,270 | 12,228,650 |
Statement_of_Income
Statement of Income (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Statement | ||
Sales Revenue, Services, Net | $2,610 | $3,403 |
Revenues | 2,610 | 3,403 |
Gross Profit | 2,610 | 3,403 |
Subscription Content Expense | 6,649 | |
DepreciationAndAmortization | 9,344 | 9,343 |
General and Administrative Expense | 47,575 | 231,021 |
Operating Expenses | 56,919 | 247,013 |
Operating Income (Loss) | -54,309 | -243,610 |
Interest Expense | 17,657 | 26,786 |
Gains (Losses) on Extinguishment of Debt | 5,136 | |
Interest and Debt Expense | 12,521 | 26,786 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -66,830 | -270,396 |
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | -66,830 | -270,396 |
Net Income (Loss) Attributable to Parent | ($66,830) | ($270,396) |
Earnings Per Share, Basic | ($0.01) | ($0.02) |
Weighted Average Number of Shares Outstanding, Basic | 12,267,035 | 11,680,000 |
Earnings Per Share, Diluted | ($0.01) | ($0.02) |
Weighted Average Number of Shares Outstanding, Diluted | 12,267,035 | 11,680,000 |
Nature_of_Operations_and_Conti
Nature of Operations and Continuance of Business | 3 Months Ended |
Mar. 31, 2015 | |
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. | |
Note_4_Related_Party_Transacti
Note 4 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Note 4 - Related Party Transactions | |
3. Related Party Transactions | |
Notes and Convertible Notes Payable | |
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. The company borrows funds from an officer and director as needed, they are unsecured and there are no defined terms of repayment at this time, the loans are to be considered Senior convertible debt. | |
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 $5,033 and $4,707at March 31, 2015 and December 31, 2014, respectively. | |
During the year ended December 31, 2014, the Company borrowed a total of $63,062 in unsecured short-term loans from an officer and director of the Company and repaid $2,925. At December 31, 2014, $180,927 of the short-term loans was outstanding and are accruing interest at 6% per annum. At March 31, 2015, $178,816 of the short-term loans were outstanding. Accrued interest on unsecured short term loans totaled $15,527 at March 31, 2015, respectively | |
In April, 2015, an affiliate of the Company assigned a Note in the principal amount of $22,500 to an unrelated party. The Note is due in June, 2015, and is convertible at the option of the holder into shares of Common Stock at market price. | |
Consulting Expense | |
At March 31, 2015 and December 31, 2014, the Company owes an officer $412,900 and $375,799, respectively, for consulting expense which is included in accounts payable, related party. Consulting expense for the year ended December 31, 2014 was $168,000. Consulting expenses for the three months ended March 31, 2015 were $30,000. In addition the officer paid $6,600 for the rent on the office space for January and February 2015 on behalf of the company. | |
Note_5_Convertible_Promissory_
Note 5 - Convertible Promissory Notes Payable | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Note 5 - Convertible Promissory Notes Payable | |
4. Convertible 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. Accrued interest on the Notes was $32,199 at December 31, 2013. | |
During the year ended December 31, 2014, we sold an additional $210,000 principal amount of one-year notes, bearing an interest rate of 10% per annum and convertible at any time following issuance until maturity into Shares of Common Stock of the Company at a price of $1.00 per Share. | |
During the year ended December 31, 2014, 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 $127,400 in debt discount to interest expense related to the beneficial conversion feature during the year ended December 31, 2014. At December 31, 2014, the Company had no unamortized debt discount on Convertible Promissory Notes. | |
In February, 2015, the Company converted an aggregate of $84,200 of principal and $ 6,420 in accrued interest on 10% convertible notes into 90,620 shares of Common Stock. The Company realized a net gain of $5,136 in interest conversion . The balance of the notes matured between January 2015 and March 2015 and are now presently due. In the event one or more of the holders should elect to convert the notes, the issuance of shares of our common stock in satisfaction of the notes will be dilutive to our current stockholders. If the notes are not converted, we will be required to satisfy the notes in cash. We do not have sufficient cash to satisfy the presently due notes, nor the balance of these notes when they become due and there are no assurances we will be able to raise the funds if necessary. | |
During the three months ended March 31, 2015, the Company received proceeds of $10,000 from the issuance of two promissory bridge notes. The notes bear interest at 15% per annum, are unsecured, and are due six months from the date of issuance. At maturity the notes become convertible at $0.20 subject to certain reset provisions. In addition the notes become convertible upon an equity financing transaction of at least $500,000. At Maturity the note holders will also receive two shares of restricted common stock for every dollar loaned to the company. | |
Accrued interest on the Notes was $47,846 at March 31, 2015 and $39,643 at December 31, 2014, respectively. | |
As of March 31, 2015, $575,000 worth of Notes 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. |
Note_6_Common_Stockcommon_Stoc
Note 6 - Common Stock,common Stock Warrants, and Preferred Stock | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Note 6 - Common Stock,common Stock Warrants, and Preferred Stock | |
5. PREFERRED STOCK | |
The Company has authorized 20,000,000 Shares of Preferred Stock, $.001 par value, which may be issued from time to time and bearing such rights, privileges and preferences as shall be designated by the Board of Directors. As of December 31, 2014, the Company had issued 4,000 Shares of Preferred Stock, designated as “Cumulative Preference ‘A’”, at a price of $1.25 per Share. The Shares bear an annual coupon of 5%, and are convertible into Shares of Common Stock of the Company at any time commencing one (1) year from the date of issuance at a conversion price of $1.25 per Share | |
During the year ended December 31, 2014, we sold $5,000 principal amount of Series “A” 5% Cumulative Convertible Preferred Stock, at a price of $1.25 per Share. These Shares bear annual cumulative dividends of 5%, payable at the option of the Company in cash or Shares of Common Stock. At the option of the holder, beginning one year from the date of issuance the Shares are convertible into Shares of Common Stock at a price of $1.25 per Share. |
Note_9_Subsequent_Events
Note 9 - Subsequent Events | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
Note 9 - Subsequent Events | |
6. SUBSEQUENT EVENTS | |
During the month of April 2015, the Company received proceeds of $7,500 from the issuance of one promissory bridge note. The Note bears interest at 15% per annum, is unsecured, and is due six months from the date of issuance. At maturity, the holder of the note will receive any unpaid principal and accrued interest. At Maturity the note holder will also receive ten shares of restricted common stock for every dollar loaned to the company. |
Liquidity_Disclosure_Policies
Liquidity Disclosure (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
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 March 31, 2015, the Company has generated minimal revenues and has an accumulated deficit of ($2,177,710). 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. | |
Statement_of_Cash_Flows
Statement of Cash Flows (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Statement of Cash Flows | ||
Net Income (Loss) Attributable to Parent | ($66,830) | ($270,396) |
Depreciation | 9,344 | 9,343 |
Amortization Of Debt Discount Premium | -5,136 | |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | 14,459 | |
Increase (Decrease) in Accounts Payable and Accrued Liabilities | 14,612 | |
IncreaseDecreaseInAccountsPayableRelatedParties | 40,136 | 48,535 |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | 58,956 | 72,337 |
Net Cash Provided by (Used in) Operating Activities | -7,874 | -198,059 |
Proceeds from (Repayments of) Notes Payable | 5,874 | 200,000 |
Proceeds from (Repayments of) Related Party Debt | 2,015 | -2,574 |
Net Cash Provided by (Used in) Financing Activities | 7,889 | 197,426 |
Cash and Cash Equivalents, Period Increase (Decrease) | 15 | -633 |
Cash and Cash Equivalents, at Carrying Value | 829 | |
Cash and Cash Equivalents, at Carrying Value | $15 | $196 |