Altona Resources 10-Q 7 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	9 Months Ended
	Sep. 30, 2013	Nov. 01, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Altona Resources Inc.	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	12,020,000
Entity Public Float	'	$101,000
Amendment Flag	'false	'
Entity Central Index Key	'0001550929	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

Balance_Sheets

Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets	'	'
Cash	$102,546	$1,715
Total Current Assets	102,546	1,715
Deferred offering costs	'	25,000
Total Assets	102,546	26,715
Current Liabilities	'	'
Accounts payable and accrued liabilities	1,600	7,911
Due to related party	55,878	41,564
Total current liabilities	57,478	49,475
Stockholders’ Deficiency	'	'
Common stock, $0.00001 par value Authorized: 200,000,000 shares Issued and outstanding: 12,020,000 and 10,000,000 common shares, respectively	120	100
Additional paid-in capital	77,880	1,900
Deficit accumulated during the development stage	-32,932	-24,760
Total stockholders’ deficiency	45,068	-22,760
Total Liabilities and Stockholders’ Deficiency	$102,546	$26,715

Balance_Sheets_Parentheticals

Balance Sheets (Parentheticals) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Common stock, par value (in Dollars per share)	$0.00	$0.00
Common stock, authorized	200,000,000	200,000,000
Common stock, issued	12,020,000	10,000,000
Common stock, outstanding	12,020,000	10,000,000

Statements_of_Operations_Unaud

Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended		30 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Expenses	'	'	'	'	'
General and administrative	$3,005	$2,229	$8,172	$5,898	$32,932
Total Costs and Expenses	3,005	2,229	8,172	5,898	32,932
Net Loss	($3,005)	($2,229)	($8,172)	($5,898)	($32,932)
Net Loss per share	'	'	'	'	'
Basic and diluted (in Dollars per share)	$0	$0	$0	$0	$0
to compute loss per share	'	'	'	'	'
Basic and Diluted (in Shares)	12,020,000	10,000,000	11,058,095	10,000,000	8,306,439

Statements_of_Stockholders_Def

Statements of Stockholders' Deficiency (USD $)	3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2011	Sep. 30, 2013	Dec. 31, 2011	Dec. 31, 2012
Balance	'	($22,760)	'	($7,183)
Shares sold for cash, value	2,000	76,000	2,000	'
Shares sold for cash, shares (in Shares)	10,000,000	'	'	'
Net Loss	'	-8,172	-9,183	-15,577
Balance	-7,183	45,068	-7,183	-22,760
Common Stock [Member]	'	'	'	'
Balance	'	100	'	'
Balance (in Shares)	'	10,000,000	'	'
Shares sold for cash, value	'	20	100	'
Shares sold for cash, shares (in Shares)	'	2,020,000	10,000,000	'
Balance	100	120	100	'
Balance (in Shares)	10,000,000	12,020,000	10,000,000	'
Additional Paid-in Capital [Member]	'	'	'	'
Balance	'	1,900	'	'
Shares sold for cash, value	'	75,980	1,900	'
Balance	1,900	77,880	1,900	'
Accumulated Deficit during Development Stage [Member]	'	'	'	'
Balance	'	-24,760	'	-9,183
Net Loss	'	-8,172	-9,183	-15,577
Balance	($9,183)	($32,932)	($9,183)	($24,760)

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended		9 Months Ended		30 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Cash Flows from Operating Activities	'	'	'	'	'
Net loss	($3,005)	($2,229)	($8,172)	($5,898)	($32,932)
Changes in operating assets and liabilities	'	'	'	'	'
Accounts payable and accrued liabilities	'	'	-6,311	-5,200	1,600
Net cash provided by (used for) operating activities	'	'	-14,483	-11,098	-31,332
Cash Flows from Financing Activities	'	'	'	'	'
Loans from related party	'	'	14,314	11,082	55,878
Proceeds from sales of common stock	'	'	101,000	'	103,000
Offering cost paid	'	'	'	'	-25,000
Net cash provided by financing activities	'	'	115,314	11,082	133,878
Increase in cash	'	'	100,831	-16	102,546
Cash, beginning of period	'	'	1,715	1,772	'
Cash, end of period	$102,546	$1,756	$102,546	$1,756	$102,546

1_OPERATIONS

1. OPERATIONS	3 Months Ended
	Sep. 30, 2013
Natureof Operationsand Going Concern [Abstract]	'
Natureof Operationsand Going Concern	'
	1.    OPERATIONS
	Organization
	The Company was incorporated in the State of Nevada on April 4, 2011. The Company is an Exploration Stage Company as defined by Accounting Standards Codification (“ASC”) Topic 915, “Development Stage Entities”. The Company’s plan of operations anticipates purchasing at least one oil and gas lease. There is no assurance we will ever be able to acquire an oil and gas lease or if we do acquire an oil and gas lease, that the oil and gas lease will produce any oil or gas.
	Going Concern
	The accompanying financial statements have been prepared on a “going concern” basis, which assumes that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. At September 30, 2013, the Company had cash of $102,546, positive working capital of $45,068 and a stockholders’ deficiency of $45,068. Further, the Company has incurred a net loss of $32,932 for the period from April 4, 2011 (inception) to September 30, 2013. 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.

2_INTERIM_FINANCIAL_STATEMENTS

2. INTERIM FINANCIAL STATEMENTS	3 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements Disclosure [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	2.    INTERIM FINANCIAL STATEMENTS
	The unaudited financial statements as of September 30, 2013 and for the nine months ended September 30, 2013 and 2012 and for the period from April 4, 2011 (inception) to September 30, 2013 have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with instructions to Form 10-Q.  In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of September 30, 2013 and the results of operations and cash flows for periods ended September 30, 2013 and 2012 and for the period from April 4, 2011 (inception) to September 30, 2013.  The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited.  The results for the nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for any subsequent quarter of the entire year ending December 31, 2013.  The balance sheet at December 31, 2012 has been derived from the audited financial statements at that date.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the Securities and Exchange Commission’s rules and regulations. Three unaudited financial statements should be read in conjunction with our audited financial statements and notes thereto for the periods ended December 31, 2012 as included in our report on Form 10-K filed on March 22, 2013.

3_DUE_TO_RELATED_PARTY

3. DUE TO RELATED PARTY	3 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	3.    DUE TO RELATED PARTY
	At September 30, 2013 and 2012, the Company is indebted to the treasurer (and a director) of the Company for cash and other advances of $55,878 and $41,564, respectively. The amounts are unsecured, non-interest bearing and are due on demand.

4_COMMON_STOCK

4. COMMON STOCK	3 Months Ended
	Sep. 30, 2013
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	4.    COMMON STOCK
	On October 4, 2011, the Company sold a total of 10,000,000 shares of common stock to its president and a director (5,000,000 shares each) at a price of $0.0002 per share for cash proceeds of $2,000.
	On May 10, 2013, the Company closed its public offering. The Company sold a total of 2,020,000 shares of common stock to two subscribers at a price of $0.05 per share for cash proceeds of $101,000. One subscriber, father of our treasurer (and director), subscribed to 1,020,000 shares ($51,000); the other subscriber subscribed to 1,000,000 shares ($50,000).
	The Company has no stock option plan and has not issued any warrants or other potentially dilutive securities.

5_INCOME_TAXES

5. INCOME TAXES	3 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	5.    INCOME TAXES
	The provision for (benefit from) income taxes differs from the amount computed by applying the statutory United States federal income tax rate of 35% to income (loss) before income taxes. The sources of the difference follow:
			Nine Months Ended				Period From inception
			September 30 ,				(April 4, 2011) to
			2013		2012		30-Sep-13
	Expected tax at 35%	$	-2,860	$	-2,064	$	-11,526
	Increase in valuation allowance		2,860		2,064		11,526
	Income Tax provision	$	-	$	-	$	-
	Significant components of the Company’s deferred income tax assets are as follows:
			30-Sep-13		31-Dec-12
	Net operating loss carryforwards	$	11,526	$	8,666
	Less: valuation allowance		-11,526		-8,666
	Income Tax provision	$	-	$	-
	Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. At September 30, 2013, the Company has a net operating loss carryforward of $32,932, which $9,183 expires in year 2031, $15,577 expires in year 2032 and $8,172 expires in year 2033.  Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefit of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

5_INCOME_TAXES_Tables

5. INCOME TAXES (Tables)	3 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	'
			Nine Months Ended				Period From inception
			September 30 ,				(April 4, 2011) to
			2013		2012		30-Sep-13
	Expected tax at 35%	$	-2,860	$	-2,064	$	-11,526
	Increase in valuation allowance		2,860		2,064		11,526
	Income Tax provision	$	-	$	-	$	-
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	'
			30-Sep-13		31-Dec-12
	Net operating loss carryforwards	$	11,526	$	8,666
	Less: valuation allowance		-11,526		-8,666
	Income Tax provision	$	-	$	-

1_OPERATIONS_Details

1. OPERATIONS (Details) (USD $)	3 Months Ended		9 Months Ended		30 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011
Natureof Operationsand Going Concern [Abstract]	'	'	'	'	'	'	'
Cash	$102,546	'	$102,546	'	$102,546	$1,715	'
Working Capital	45,068	'	45,068	'	45,068	'	'
Stockholders' Equity Attributable to Parent	45,068	'	45,068	'	45,068	-22,760	-7,183
Net Income (Loss) Attributable to Parent	($3,005)	($2,229)	($8,172)	($5,898)	($32,932)	'	'

3_DUE_TO_RELATED_PARTY_Details

3. DUE TO RELATED PARTY (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012
Related Party Transactions [Abstract]	'	'	'
Due to Related Parties, Current	$55,878	$41,564	$41,564

4_COMMON_STOCK_Details

4. COMMON STOCK (Details) (USD $)	2 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2013	Dec. 31, 2011	Sep. 30, 2013	Dec. 31, 2011
Stockholders' Equity Note [Abstract]	'	'	'	'
Stock Issued During Period, Shares, Issued for Cash	2,020,000	10,000,000	'	'
Sale of Stock, Price Per Share (in Dollars per share)	$0.05	$0.00	'	$0.00
Stock Issued During Period, Value, Issued for Cash (in Dollars)	$101,000	$2,000	$76,000	$2,000

5_INCOME_TAXES_Details

5. INCOME TAXES (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2033	Sep. 30, 2032	Sep. 30, 2031
Income Tax Disclosure [Abstract]	'	'	'	'
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	35.00%	'	'	'
Deferred Tax Assets, Operating Loss Carryforwards	$32,932	'	'	'
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	'	$8,172	$15,577	$9,183

5_INCOME_TAXES_Details_Provisi

5. INCOME TAXES (Details) - Provision for Income Tax (USD $)	9 Months Ended		30 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Provision for Income Tax [Abstract]	'	'	'
Expected tax at 35%	($2,860)	($2,064)	($11,526)
Increase in valuation allowance	$2,860	$2,064	$11,526

5_INCOME_TAXES_Details_Deferre

5. INCOME TAXES (Details) - Deferred Income Tax Assets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Deferred Income Tax Assets [Abstract]	'	'
Net operating loss carryforwards	$11,526	$8,666
Less: valuation allowance	($11,526)	($8,666)