Altona Resources 10-K 31 Mar 15 2014 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Altona Resources Inc.
Document Type	10-K
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		12,020,000
Entity Public Float		$101,000
Amendment Flag	FALSE
Entity Central Index Key	1550929
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	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current Assets
Cash	$0	$102,443
Total Current Assets		102,443
Total Assets		102,443
Current Liabilities
Accounts payable and accrued liabilities	13,331	6,800
Due to related party	10,068	59,153
Total current liabilities	23,399	65,953
Stockholders' Equity (Deficiency)
Common stock, $0.00001 par value Authorized: 200,000,000 shares Issued and outstanding: 12,020,000 and 12,020,000 common shares, respectively	120	120
Additional paid-in capital	77,880	77,880
Deficit accumulated during the development stage	-101,399	-41,510
Total stockholders' equity (deficiency)	-23,399	36,490
Total Liabilities and Stockholders' Equity (Deficiency)		$102,443

Balance_Sheets_Parentheticals

Balance Sheets (Parentheticals) (USD $)	Dec. 31, 2014	Dec. 31, 2013
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	12,020,000
Common stock, outstanding	12,020,000	12,020,000

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended		48 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
Expenses
General and administrative	$59,889	$16,750	$101,399
Total Costs and Expenses	59,889	16,750	101,399
Net Loss	($59,889)	($16,750)	($101,399)
Net Loss per share
Basic and diluted (in Dollars per share)	$0	$0	$0
compute loss per share
Basic and Diluted (in Shares)	12,020,000	11,228,603	10,446,209

Statements_of_Stockholders_Equ

Statements of Stockholders' Equity (Deficiency) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit during Development Stage [Member]	Total
Balance at Apr. 03, 2011
Shares sold for cash	$100	$1,900		$2,000
Shares sold for cash (in Shares)	10,000,000
Net loss			-9,183	-9,183
Balance at Dec. 31, 2011	100	1,900	-9,183	-7,183
Balance (in Shares) at Dec. 31, 2011	10,000,000
Net loss			-15,577	-15,577
Balance at Dec. 31, 2012	100	1,900	-24,760	-22,760
Balance (in Shares) at Dec. 31, 2012	10,000,000
Shares sold for cash	20	75,980		76,000
Shares sold for cash (in Shares)	2,020,000
Net loss			-16,750	-16,750
Balance at Dec. 31, 2013	120	77,880	-41,510	36,490
Balance (in Shares) at Dec. 31, 2013	12,020,000
Net loss			-59,889	-59,889
Balance at Dec. 31, 2014	$120	$77,880	($101,399)	($23,399)
Balance (in Shares) at Dec. 31, 2014	12,020,000

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended			45 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
Cash Flows from Operating Activities
Net loss	($59,889)	($16,750)	($15,577)	($101,399)
Changes in operating assets and liabilities
Accounts payable and accrued liabilities	6,531	-1,111		13,331
Net cash provided by (used for) operating activities	-53,358	-17,861		-88,068
Cash Flows from Financing Activities
Loans from related party	-49,085	17,589		10,068
Proceeds from sales of common stock		101,000		103,000
Offering costs paid				-25,000
Net cash provided by financing activities	-49,085	118,589		88,068
Increase in cash	-102,443	100,728
Cash, beginning of period	102,443	1,715
Cash, end of period		$102,443	$1,715

1_OPERATIONS

1. OPERATIONS	12 Months Ended
	Dec. 30, 2014
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 December 31, 2014, the Company had cash of $0 and negative working capital of $23,399. Further, the Company has incurred a net loss of $101,399 for the period from April 4, 2011 (inception) to December 31, 2014. 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_SUMMARY_OF_SIGNIFICANT_ACCOU

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	a)	Basis of presentation
	The Company has been presented as a "development stage company" in accordance with Accounting Standards Codification ("ASC") 915, "Development Stage Entities".  Since inception, the Company's activities have been limited to organizational efforts, obtaining initial financing, and making filings with the Securities and Exchange Commission.
	b)	Use of Estimates and Assumptions
	The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the 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.
	c)	Financial Instruments
	The carrying values of the Company's financial instruments, consisting of accounts payable and accrued liabilities and due to related party, approximate their fair value because of the short maturity of these instruments.
	d)	Income Taxes
	The Company uses the asset and liability method of accounting for income taxes in accordance with ASC 740, "Income Taxes". This standard requires the use of an asset and liability approach for financial accounting and reporting on income taxes. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized.
	e)	Basic and Diluted Net Loss per Share
	The Company reports net loss per share in accordance with ASC 260, "Earnings per Share". Basic net loss per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed using the weighted average number of shares of common stock and potentially dilutive securities outstanding during the periods (none for the periods presented). The Company has no stock option plan and has not issued any warrants or other potentially dilutive securities.
	f)	Recent Accounting Pronouncements
	In June 2014, The Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-10, "Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation" ("ASU 2014-10"). ASU 2014-10 removes the financial reporting distinction between development stage entities and other reporting entities and eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The Company is required to adopt this new standard on a retrospective basis for the year ending December 31, 2015, and interim periods therein; however, early application is permitted. Other than simplifying the presentation of the financial statements and disclosures needed to be made by the Company, the Company believes that the adoption of ASU 2014-10 will not materially affect its future financial statements.
	Certain other accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company's financial position and results of operations from adoption of these standards is not expected to be material.

3_DUE_TO_RELATED_PARTY

3. DUE TO RELATED PARTY	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	3.     DUE TO RELATED PARTY
	At December 31, 2014 and December 31, 2013, the Company was indebted to the former treasurer and director of the Company (to February 5, 2015) for cash and other advances of $10,068 and $59,153, respectively. The liability is unsecured, non-interest bearing and due on demand.

4_COMMON_STOCK

4. COMMON STOCK	12 Months Ended
	Dec. 31, 2014
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 then 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 former 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	12 Months Ended
	Dec. 31, 2014
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:
		Year ended			Year ended			Cumulative during the
		31-Dec-14			31-Dec-13			Development stage
								(April 4, 2011 to
								31-Dec-14
	Expected tax at 35%	$	(20,961	)	$	(5,863	)	$	(35,490	)
	Increase in valuation allowance		20,961			5,863			34,490
	Income Tax provision	$	-		$	-		$	-
	Significant components of the Company's deferred income tax assets are as follows:
		31-Dec-14			31-Dec-13
	Net operating loss carryforward	$	35,490		$	14,529
	Less valuation allowance		(35,490	)		(14,529	)
	Income tax provision	$	-		$	-
	Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. At December 31, 2014, the Company has a net operating loss carryforward of $101,399, which $9,183 expires in year 2031, $15,577 expires in year 2032 and $16,750 expires in year 2033 and $59,889 expires in year 2034.  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.

6_GENERAL_AND_ADMINISTRATIVE_E

6. GENERAL AND ADMINISTRATIVE EXPENSES	12 Months Ended
	Dec. 31, 2014
Policy Text Block [Abstract]
Selling, General and Administrative Expenses, Policy [Policy Text Block]	6.     GENERAL AND ADMINISTRATIVE EXPENSES
	On January 23, 2014, the Company paid a total of $39,983 to Magnus Management N.A. Ltd. ("Magnus") for consulting services rendered pursuant to an Agreement for Services dated January 1, 2014 with Magnus. Magnus is controlled by the father of the Company's former treasurer.
	On January 23, 2014, the Company paid $3,300 to Walter Brenner ("Brenner") for consulting services pursuant to an Agreement for Services dated January 1, 2014 with Brenner.

7_SUBSEQUENT_EVENTS

7. SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events [Text Block]	7.     SUBSEQUENT EVENTS
	On February 2, 2015, Barry Underhill (then president of the Company) and Hui Deng (then treasurer of the Company) each transferred 5,000,000 shares of Company common stock owned by them (10,000,000 shares total) to Good Source International Holding Group Limited, a corporation organized under the laws of the Territory of the British Virgin islands ("Good Source"). After the transactions, Good Source owns approximately 83% of the 12,020,000 issued and outstanding shares of Company common stock.
	On February 5, 2015, Barry Underhill and Hui Deng resigned their positions as officers and directors of the Company and Ms. Ying Nie was appointed chief executive officer and director of the Company.

5_INCOME_TAXES_Tables

5. INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]		Year ended			Year ended			Cumulative during the
		31-Dec-14			31-Dec-13			Development stage
								(April 4, 2011 to
								31-Dec-14
	Expected tax at 35%	$	(20,961	)	$	(5,863	)	$	(35,490	)
	Increase in valuation allowance		20,961			5,863			34,490
	Income Tax provision	$	-		$	-		$	-
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]		31-Dec-14			31-Dec-13
	Net operating loss carryforward	$	35,490		$	14,529
	Less valuation allowance		(35,490	)		(14,529	)
	Income tax provision	$	-		$	-

1_OPERATIONS_Details

1. OPERATIONS (Details) (USD $)	9 Months Ended	12 Months Ended			45 Months Ended
	Dec. 31, 2011	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
Natureof Operationsand Going Concern [Abstract]
Cash		$0	$102,443		$0
Working Capital		-23,399			-23,399
Net Income (Loss) Attributable to Parent	($9,183)	($59,889)	($16,750)	($15,577)	($101,399)

3_DUE_TO_RELATED_PARTY_Details

3. DUE TO RELATED PARTY (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Due to Related Parties, Current	$10,068	$59,153

4_COMMON_STOCK_Details

4. COMMON STOCK (Details) (USD $)	3 Months Ended	4 Months Ended	9 Months Ended	12 Months Ended	28 Months Ended
	Dec. 31, 2011	13-May-13	Dec. 31, 2011	Dec. 31, 2013	13-May-13
Stockholders' Equity Note [Abstract]
Development Stage Entities, Stock Issued, Shares, Issued for Cash	10,000,000
Sale of Stock, Price Per Share	$0.00	$0.05	$0.00		$0.05
Development Stage Entities, Stock Issued, Value, Issued for Cash	$2,000		$2,000	$76,000
Stock Issued During Period, Shares, New Issues		2,020,000
Stock Issued During Period, Value, New Issues					$101,000

5_INCOME_TAXES_Details

5. INCOME TAXES (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2034	Dec. 31, 2033	Dec. 31, 2032	Dec. 31, 2031
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Deferred Tax Assets, Operating Loss Carryforwards	$101,399	$59,889
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration			$16,750	$15,577	$9,183

5_INCOME_TAXES_Details_Provisi

5. INCOME TAXES (Details) - Provision for Income Tax (USD $)	12 Months Ended		45 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
Provision for Income Tax [Abstract]
Expected tax at 35%	($20,961)	($5,863)	($35,490)
Increase in valuation allowance	$20,961	$5,863	$34,490

5_INCOME_TAXES_Details_Deferre

5. INCOME TAXES (Details) - Deferred Income Tax Assets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Deferred Income Tax Assets [Abstract]
Net operating loss carryforward	$35,490	$14,529
Less valuation allowance	($35,490)	($14,529)

6_GENERAL_AND_ADMINISTRATIVE_E1

6. GENERAL AND ADMINISTRATIVE EXPENSES (Details) (USD $)	1 Months Ended
	Jan. 23, 2014
Policy Text Block [Abstract]
Professional and Contract Services Expense	$39,983
Professional and Contract Services Expense, Related Parties	$3,300

7_SUBSEQUENT_EVENTS_Details

7. SUBSEQUENT EVENTS (Details)	1 Months Ended
	Feb. 02, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Events [Abstract]
Share Acquisition	10,000,000
Equity Method Investment, Ownership Percentage	83.00%
Common Stock, Shares, Outstanding	12,020,000	12,020,000	12,020,000