Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Document and Entity Information: | ' |
Entity Registrant Name | 'BLVD HOLDINGS INC |
Document Type | '10-K |
Document Period End Date | 31-Dec-13 |
Amendment Flag | 'false |
Entity Central Index Key | '0001554594 |
Current Fiscal Year End Date | '--12-31 |
Entity Common Stock, Shares Outstanding | 6,890,000 |
Entity Public Float | $6,890,000 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'No |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'FY |
Balance_Sheets
Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ' | ' |
Cash | $84 | $3,121 |
Total Current Assets | 84 | 3,121 |
PROPERTY AND EQUIPMENT, Net | 9,087 | 13,456 |
OTHER ASSETS | 9,500 | ' |
TOTAL ASSETS | 18,671 | 16,577 |
Accounts payable | ' | 675 |
Total Current Liabilities | ' | 675 |
Common stock, 70,000,000 shares authorized at par value of $0.001, 6,890,000 and 5,750,000 shares issued and outstanding | 6,980 | 5,750 |
Additional paid-in capital | 150,984 | 50,314 |
Deficit accumulated during the development stage | -139,293 | -40,162 |
Total Stockholders' Equity | 18,671 | 15,902 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $18,671 | $16,577 |
Statements_of_Operations
Statements of Operations (USD $) | 7 Months Ended | 12 Months Ended | 19 Months Ended |
Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
REVENUES | ' | ' | ' |
REVENUES | $20,500 | $21,500 | $42,000 |
GROSS MARGIN | 20,500 | 21,500 | 42,000 |
Professional fees | 17,168 | 33,870 | 51,038 |
General and administrative | 43,494 | 87,800 | 131,294 |
Total Operating Expenses | 60,662 | 121,670 | 182,332 |
LOSS FROM OPERATIONS | -40,162 | -100,170 | -140,332 |
Other income | ' | 1,039 | 1,039 |
Total Other Income | ' | 1,039 | 1,039 |
LOSS BEFORE INCOME TAXES | -40,162 | -99,131 | -139,293 |
Profit (loss) | ($40,162) | ($99,131) | ($139,293) |
BASIC AND DILUTED LOSS PER COMMON SHARE | ($0.01) | ($0.01) | ' |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED | 5,721,814 | 6,690,521 | ' |
Statements_of_Stockholders_Equ
Statements of Stockholders' Equity (USD $) | Common stock | Additional Paid In Capital | Accumulated Deficit | Total |
Stockholders' Equity, beginning balance at Jun. 10, 2012 | ' | ' | ' | ' |
Common stock issued for cash, value | $5,750 | $15,114 | ' | $20,864 |
Common stock issued for cash, shares | 5,750,000 | ' | ' | 5,750,000 |
Common stock issued for services, value | ' | 35,200 | ' | 35,200 |
Stockholders' Equity, ending balance at Dec. 31, 2012 | 5,750 | 50,314 | -40,162 | 15,902 |
NET LOSS at Dec. 31, 2012 | ' | ' | -40,162 | -40,162 |
Balance common shares, ending balance at Dec. 31, 2012 | 5,750,000 | ' | ' | 5,750,000 |
Common stock issued for cash, value | 1,230 | 35,670 | ' | 36,900 |
Common stock issued for cash, shares | 1,230,000 | ' | ' | 1,230,000 |
Common stock issued for services, value | ' | 65,000 | ' | 65,000 |
Stockholders' Equity, ending balance at Dec. 31, 2013 | 6,980 | 150,984 | -139,293 | 18,671 |
NET LOSS at Dec. 31, 2013 | ' | ' | ($99,131) | ($99,131) |
Balance common shares, ending balance at Dec. 31, 2013 | 6,980,000 | ' | ' | 6,980,000 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 7 Months Ended | 12 Months Ended | 19 Months Ended |
Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | ' | ' | ' |
Net income (loss) | ($40,162) | ($99,131) | ($139,293) |
Depreciation | 2,408 | 4,369 | 6,777 |
Services contributed by officer | 35,200 | 65,000 | 100,200 |
Other assets | ' | -9,500 | -9,500 |
Change in accounts payable | 675 | -675 | ' |
Net Cash Used in Operating Activities | -1,879 | -39,937 | -41,816 |
Proceeds from common stock for cash | 5,000 | 36,900 | 41,900 |
Proceeds from note payable - related party | 3,000 | ' | 3,000 |
Payments on note payable - related party | -3,000 | ' | -3,000 |
Net Cash Provided by Financing Activities | 5,000 | 36,900 | 41,900 |
NET INCREASE (DECREASE) IN CASH | 3,121 | -3,037 | 84 |
CASH AT BEGINNING OF PERIOD | ' | 3,121 | ' |
CASH AT END OF PERIOD | 3,121 | 84 | 84 |
Shares issued to founder in exchange for property | $15,864 | ' | $15,864 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Notes | ' | |
Note 1 - Summary of Significant Accounting Policies | ' | |
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Nature of Business | ||
BLVD Holdings (the “Company”) was incorporated in the State of Nevada on June 11, 2012. The Company is focused on providing strategic growth direction to companies in the entertainment industry with specific emphasis on film and music distribution, as well as fashion and clothing design by acquiring such companies. The Company also earns revenues from the sale of movie scripts. | ||
Going Concern | ||
The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States, which contemplate continuation of the Company as a going concern. However, the Company has generated revenues of $42,000 since inception and has an accumulated deficit of $139.293 at December 31, 2013. The Company currently has limited liquidity and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These factors raise substantial doubt about the Company’s ability to continue as a going concern. | ||
Management anticipates that the Company will be dependent, for the near future, on additional investment capital, primarily from its shareholders, to fund operating expenses. The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. | ||
Basis of Presentation | ||
These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in US dollars. The Company’s fiscal year-end is December 31. | ||
Use of Estimates | ||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | ||
Cash and Cash Equivalents | ||
The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. The Company had cash on hand of $84 and $3,121 as of December 31, 2013 and 2012. | ||
Property and Equipment | ||
Property and equipment are recorded at cost and are comprised of computer and equipment and furniture and software costs. Expenditures for major additions and improvements are capitalized, and minor replacements, maintenance, and repairs are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets using the straight-line method for financial statement purposes. | ||
The estimated useful lives for significant property and equipment categories are as follows: | ||
Computers, computer equipment, and software | 3 years | |
Furniture | 7 years | |
Management evaluates the recoverability of the Company’s property and equipment costs when events or circumstances indicate a potential impairment exists. The Company considers certain events and circumstances in determining whether the carrying value of identifiable property and equipment may not be recoverable including, but not limited to: significant changes in performance relative to expected operating results; significant changes in the use of the assets; significant negative industry or economic trends; and changes in the business strategy. In determining if impairment exists, the Company estimates the undiscounted cash flows to be generated from the use and ultimate disposition of these assets. If impairment is indicated based on a comparison of the assets' carrying values and the undiscounted cash flows, the impairment loss is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company determined that there was no impairment of its property and equipment for the period ended December 31, 2013. | ||
Long-lived Assets | ||
The Company follows the provisions of ASC 360 for its long-lived assets. The Company’s long-lived assets, which include rights/ownership of undeveloped film scripts, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. | ||
The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. | ||
Revenue Recognition | ||
During the year end December 31, 2013 and 2012, the Company generated revenues from the sale of movie scripts. Revenues are recognized when the following conditions are met: | ||
1. Persuasive evidence of a sale or license agreement exists with a customer | ||
2. The script is complete and has been delivered or is immediately available to be delivered in accordance with the terms of the agreement. | ||
3. The license period for the arrangement has started and the customer can begin exploitation, exhibition or sale. | ||
4. The arrangement fee is fixed or determinable | ||
5. Collection of the arrangement fee is reasonably assured. | ||
If any of the above conditions are not met, the Company will defer revenue until all conditions are met. | ||
Income Taxes | ||
The Company provides for income taxes using an asset and liability approach. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | ||
Per Share Data | ||
In accordance with "ASC-260 - Earnings per Share", the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. At December 31, 2013 and 2012, the Company had no stock equivalents that were anti-dilutive and excluded in the loss per share computation. | ||
Fair Value of Financial Instruments | ||
Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. The carrying value of cash and cash equivalents and accounts payable and accrued liabilities approximate their fair value because of the short-term nature of these instruments. Management is of the opinion that the Company is not exposed to significant market or credit risks arising from these financial instruments. | ||
Stock-based Compensation | ||
The Company accounts for stock-based compensation to employees in accordance with FASB ASC 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with FASB ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of stock-based payments using the Black-Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances. | ||
Recent Accounting Pronouncements | ||
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. | ||
Note_2_Stockholders_Equity
Note 2 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 2 - Stockholders' Equity | ' |
NOTE 2 - STOCKHOLDERS’ EQUITY | |
On June 12, 2012, the Company issued 5,750,000 shares of common stock to the founder of the Company in exchange for cash of $5,000 and property of $15,864. | |
During 2013 and 2012, an officer of the Company has contributed various services to the Company. These services include basic management, marketing, operating, administrative and accounting services. These services have been valued at $65,000 per year and have been recorded as capital contributions of $65,000 and $35,200 as of the year ending December 31, 2013 and 2012, respectively. | |
The Company is authorized to issue 5,000,000 shares of preferred stock, $0.001 par value, of which no shares are issued and outstanding. | |
Note_3_Property_and_Equipment
Note 3 - Property and Equipment | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 3 - Property and Equipment | ' |
NOTE 3 – PROPERTY AND EQUIPMENT | |
On July 12, 2012, property and equipment totaling $15,864 was acquired by the Company from the Company founder in exchange for issuing common stock. | |
The following is a summary of property and equipment at December 31, 2013 and 2012: | |
Depreciation expense for the years ended December 31, 2013 and 2012 was $4,369 and $2,408. | |
Note_4_Other_Assets
Note 4 - Other Assets | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 4 - Other Assets | ' |
NOTE 4 – OTHER ASSETS | |
During the year ended December 31, 2013 the Company purchased rights/ownership of three (3) undeveloped film scripts and has recorded them as Other Assets of $9,500 in accordance with ASC 926 Entertainment-Films. The Company intends to further develop the scripts and then market them for sale in the near future. The Company has determined that the assets have an indefinite useful life and are not subject to amortization. Management evaluates the recoverability of the Company’s long-lived assets, which include these two scripts, are reviewed for impairment whenever events or changes in circumstances indicate a potential impairment exists. The Company has assessed the assets for impairment and has determined that no impairment is necessary. | |
Note_5_Relatedparty_Transactio
Note 5 - Related-party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 5 - Related-party Transactions | ' |
NOTE 5 – RELATED-PARTY TRANSACTIONS | |
During the period ended December 31, 2012, the Company entered into a promissory note agreement with an officer of the Company for $3,000 for operating expenses. The note bears no interest, is unsecured and is due and payable upon demand. The note was repaid in full during 2012, resulting in a balance of $0 at December 31, 2013 and 2012. | |
See also Note 2 for related party equity transactions. |
Note_6_Income_Taxes
Note 6 - Income Taxes | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Notes | ' | |||||
Note 6 - Income Taxes | ' | |||||
NOTE 6 – INCOME TAXES | ||||||
The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 34% to the net loss before provision for income taxes for the following reasons: | ||||||
Years Ended December 31, | ||||||
2013 | 2012 | |||||
Income tax expense (benefit) at statutory rate | $ | -33,705 | $ | -1,687 | ||
Change in Valuation allowance | 33,705 | 1,687 | ||||
Total provision for income taxes | $ | - | $ | - | ||
Net Deferred tax assets consist of the following components as of: | ||||||
Years Ended December 31, | ||||||
2013 | 2012 | |||||
NOL Carryover | $ 47,360 | $ 1,687 | ||||
Valuation allowance | -47,360 | -1,687 | ||||
Net deferred tax asset | $ - | $ - | ||||
Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $47,360 for federal income tax reporting purposes could be subject to annual limitations should a change in ownership occur. The net operating loss carry forwards begin to expire in 2032. | ||||||
Note_7_subsequent_Events
Note 7 -subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
Note 7 -subsequent Events | ' |
NOTE 7 –SUBSEQUENT EVENTS | |
In accordance with ASC 855, the Company evaluated subsequent events through the date these financial statements were issued. There were no material subsequent events that required recognition or additional disclosure in these financial statements. |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies: Nature of Business (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Nature of Business | ' |
Nature of Business | |
BLVD Holdings (the “Company”) was incorporated in the State of Nevada on June 11, 2012. The Company is focused on providing strategic growth direction to companies in the entertainment industry with specific emphasis on film and music distribution, as well as fashion and clothing design by acquiring such companies. The Company also earns revenues from the sale of movie scripts. | |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies: Going Concern (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Going Concern | ' |
Going Concern | |
The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States, which contemplate continuation of the Company as a going concern. However, the Company has generated revenues of $42,000 since inception and has an accumulated deficit of $139.293 at December 31, 2013. The Company currently has limited liquidity and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These factors raise substantial doubt about the Company’s ability to continue as a going concern. | |
Management anticipates that the Company will be dependent, for the near future, on additional investment capital, primarily from its shareholders, to fund operating expenses. The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Basis of Presentation | ' |
Basis of Presentation | |
These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in US dollars. The Company’s fiscal year-end is December 31. | |
Note_1_Summary_of_Significant_4
Note 1 - Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Note_1_Summary_of_Significant_5
Note 1 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. The Company had cash on hand of $84 and $3,121 as of December 31, 2013 and 2012. | |
Note_1_Summary_of_Significant_6
Note 1 - Summary of Significant Accounting Policies: Property and Equipment (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Policies | ' | |
Property and Equipment | ' | |
Property and Equipment | ||
Property and equipment are recorded at cost and are comprised of computer and equipment and furniture and software costs. Expenditures for major additions and improvements are capitalized, and minor replacements, maintenance, and repairs are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets using the straight-line method for financial statement purposes. | ||
The estimated useful lives for significant property and equipment categories are as follows: | ||
Computers, computer equipment, and software | 3 years | |
Furniture | 7 years | |
Management evaluates the recoverability of the Company’s property and equipment costs when events or circumstances indicate a potential impairment exists. The Company considers certain events and circumstances in determining whether the carrying value of identifiable property and equipment may not be recoverable including, but not limited to: significant changes in performance relative to expected operating results; significant changes in the use of the assets; significant negative industry or economic trends; and changes in the business strategy. In determining if impairment exists, the Company estimates the undiscounted cash flows to be generated from the use and ultimate disposition of these assets. If impairment is indicated based on a comparison of the assets' carrying values and the undiscounted cash flows, the impairment loss is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company determined that there was no impairment of its property and equipment for the period ended December 31, 2013. |
Note_1_Summary_of_Significant_7
Note 1 - Summary of Significant Accounting Policies: Long-lived Assets (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Long-lived Assets | ' |
Long-lived Assets | |
The Company follows the provisions of ASC 360 for its long-lived assets. The Company’s long-lived assets, which include rights/ownership of undeveloped film scripts, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. | |
The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. | |
Note_1_Summary_of_Significant_8
Note 1 - Summary of Significant Accounting Policies: Revenue Recognition (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Revenue Recognition | ' |
Revenue Recognition | |
During the year end December 31, 2013 and 2012, the Company generated revenues from the sale of movie scripts. Revenues are recognized when the following conditions are met: | |
1. Persuasive evidence of a sale or license agreement exists with a customer | |
2. The script is complete and has been delivered or is immediately available to be delivered in accordance with the terms of the agreement. | |
3. The license period for the arrangement has started and the customer can begin exploitation, exhibition or sale. | |
4. The arrangement fee is fixed or determinable | |
5. Collection of the arrangement fee is reasonably assured. | |
If any of the above conditions are not met, the Company will defer revenue until all conditions are met. | |
Note_1_Summary_of_Significant_9
Note 1 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Income Taxes | ' |
Income Taxes | |
The Company provides for income taxes using an asset and liability approach. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. |
Recovered_Sheet1
Note 1 - Summary of Significant Accounting Policies: Per Share Data (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Per Share Data | ' |
Per Share Data | |
In accordance with "ASC-260 - Earnings per Share", the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. At December 31, 2013 and 2012, the Company had no stock equivalents that were anti-dilutive and excluded in the loss per share computation. |
Recovered_Sheet2
Note 1 - Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. The carrying value of cash and cash equivalents and accounts payable and accrued liabilities approximate their fair value because of the short-term nature of these instruments. Management is of the opinion that the Company is not exposed to significant market or credit risks arising from these financial instruments. |
Recovered_Sheet3
Note 1 - Summary of Significant Accounting Policies: Stock-based Compensation (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Stock-based Compensation | ' |
Stock-based Compensation | |
The Company accounts for stock-based compensation to employees in accordance with FASB ASC 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with FASB ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of stock-based payments using the Black-Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances. |
Recovered_Sheet4
Note 1 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Policies | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |