Altona Resources 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	6 Months Ended
	Jun. 30, 2015	Jul. 30, 2015
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	1,550,929
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	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Liabilities
Accounts payable and accrued liabilities	$ 6,514	$ 13,331
Due to related parties	38,975	10,068
Total current liabilities	45,489	23,399
Stockholders' 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
Accumulated deficit	(123,489)	(101,399)
Total stockholders' deficiency	$ (45,489)	$ (23,399)

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Common stock, par value (in Dollars per share)	$ 0.00001	$ 0.00001
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 (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Expenses
General and administrative	$ 5,742	$ 3,994	$ 22,090	$ 48,486
Total Costs and Expenses	5,742	3,994	22,090	48,486
Net Loss	$ (5,742)	$ (3,994)	$ (22,090)	$ (48,486)
Net Loss per share
Basic and diluted (in Dollars per share)	$ 0	$ 0	$ 0	$ 0
Number of common shares used to compute net loss per share
Basic and diluted (in Shares)	12,020,000	12,020,000	12,020,000	12,020,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficiency) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit during Development Stage [Member]	Total
Balance at Dec. 31, 2012	$ 100	$ 1,900	$ (24,760)	$ (22,760)
Balance (in Shares) at Dec. 31, 2012	10,000,000
Shares sold at $0.05 per share on May 10, 2013 (less offering costs of $25,000)	$ 20	75,980		76,000
Shares sold at $0.05 per share on May 10, 2013 (less offering costs of $25,000) (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
Net loss			(22,090)	(22,090)
Balance at Jun. 30, 2015	$ 120	$ 77,880	$ (123,489)	$ (45,489)
Balance (in Shares) at Jun. 30, 2015	12,020,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Cash Flows from Operating Activities
Net loss	$ (22,090)	$ (48,486)	$ (59,889)
Changes in operating assets and liabilities
Accounts payable and accrued liabilities	(6,817)	(4,872)
Net cash provided by (used for) operating activities	(28,907)	(53,358)
Cash Flows from Financing Activities
Loans from related parties	28,907	10,068
Repayments of due to related party		(59,153)
Net cash provided by (used for) financing activities	$ 28,907	(49,085)
Increase (decrease) in cash		(102,443)
Cash, beginning of period		$ (102,443)	$ (102,443)

1. OPERATIONS

1. OPERATIONS	3 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Nature of Operations [Text Block]	1. OPERATIONS Organization The Company was incorporated in the State of Nevada on April 4, 2011. 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 June 30, 2015, the Company had cash of $0 and a working capital deficit of $45,489. Further, the Company has incurred a net loss of $123,489 for the period from April 4, 2011 (inception) to June 30, 2015. 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	6 Months Ended
	Jun. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	2. INTERIM FINANCIAL STATEMENTS The unaudited financial statements as of June 30, 2015 and for the three and six months ended June 30, 2015 and 2014 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 June 30, 2015 and the results of operations and cash flows for periods ended June 30, 2015 and 2014. 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 six months ended June 30, 2015 are not necessarily indicative of the results to be expected for any subsequent quarter of the entire year ending December 31, 2015. The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date.

3. DUE TO RELATED PARTIES

3. DUE TO RELATED PARTIES	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	3. DUE TO RELATED PARTIES Due to related parties consists of: June 30, December 31, 2015 2014 Majority stockholder since February 2, 2015 $ 28,907 $ - Former treasurer and director to February 2, 2015 10,068 10,068 Total $ 38,975 $ 10,068 The liabilities are unsecured, non-interest bearing and due on demand.

4. COMMON STOCK

4. COMMON STOCK	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	4. COMMON STOCK 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) to February 2, 2015, 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	6 Months Ended
	Jun. 30, 2015
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: Six Months Ended June 30, 2015 2014 Expected tax at 35% $ (7,732 ) $ (16,970 ) Increase in valuation allowance 7,732 16,970 Income Tax provision $ - $ - Significant components of the Company's deferred income tax assets are as follows: June 30, December 31, 2015 2014 Net operating loss carryforward $ 48,943 $ 35,490 Less valuation allowance (48,943 ) (35,490 ) Deferred income tax assets-net $ - $ - Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. At June 30, 2015,

3. DUE TO RELATED PARTIES (Tabl

3. DUE TO RELATED PARTIES (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	June 30, December 31, 2015 2014 Majority stockholder since February 2, 2015 $ 28,907 $ - Former treasurer and director to February 2, 2015 10,068 10,068 Total $ 38,975 $ 10,068

5. INCOME TAXES (Tables)

5. INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Six Months Ended June 30, 2015 2014 Expected tax at 35% $ (7,732 ) $ (16,970 ) Increase in valuation allowance 7,732 16,970 Income Tax provision $ - $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	June 30, December 31, 2015 2014 Net operating loss carryforward $ 48,943 $ 35,490 Less valuation allowance (48,943 ) (35,490 ) Deferred income tax assets-net $ - $ -

1. OPERATIONS (Details)

1. OPERATIONS (Details) - USD ($)	6 Months Ended		12 Months Ended		51 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2015
Disclosure Text Block [Abstract]
Cash	$ 0				$ 0
Working Capital	45,489				45,489
Net Income (Loss) Attributable to Parent	$ (22,090)	$ (48,486)	$ (59,889)	$ (16,750)	$ 123,489

3. DUE TO RELATED PARTIES (Deta

3. DUE TO RELATED PARTIES (Details) - Due to related parties - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Due to related parties [Abstract]
Majority stockholder since February 2, 2015	$ 28,907
Former treasurer and director to February 2, 2015	10,068	$ 10,068
Total	$ 38,975	$ 10,068

4. COMMON STOCK (Details)

4. COMMON STOCK (Details) - USD ($)	4 Months Ended	16 Months Ended
	May. 10, 2013	May. 13, 2013
Stockholders' Equity Note [Abstract]
Stock Issued During Period, Shares, New Issues	2,020,000
Sale of Stock, Price Per Share	$ 0.05
Stock Issued During Period, Value, New Issues		$ 101,000

5. INCOME TAXES (Details)

5. INCOME TAXES (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2035	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%
Operating Loss Carryforwards	$ 123,489
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration		$ 22,090	$ 59,889	$ 16,750	$ 15,577	$ 9,183

5. INCOME TAXES (Details) - Sch

5. INCOME TAXES (Details) - Schedule of Components of Income Tax Expense (Benefit) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Schedule of Components of Income Tax Expense (Benefit) [Abstract]
Expected tax at 35%	$ (7,732)	$ (16,970)
Increase in valuation allowance	$ 7,732	$ 16,970

5. INCOME TAXES (Details) - S19

5. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Schedule of Deferred Tax Assets and Liabilities [Abstract]
Net operating loss carryforward	$ 48,943	$ 35,490
Less valuation allowance	$ (48,943)	$ (35,490)