Rocky Mountain Industrials (RMRI) 10-K 29 Dec 15 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2015	Dec. 28, 2015	Mar. 31, 2015
Document Information [Line Items]
Entity Registrant Name	RMR Industrials, Inc.
Entity Central Index Key	1,556,179
Document Type	10-K
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Period Focus	FY
Entity Public Float			$ 0
Document Fiscal Year Focus	2,015
Trading Symbol	RMRI
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		35,785,858
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		833,457

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET	Sep. 30, 2015USD ($)
Current Assets
Cash	$ 2,215
Total Current Assets	2,215
Deferred Financing Costs	237,398
Other Assets	2,500
Total Assets	242,113
Current Liabilities
Accounts Payable	672,113
Accounts Payable, Related Party	1,148,732
Accrued Liabilities, Related Party	805,743
Total Liabilities	2,626,588
Shareholders’ Deficit
Preferred Stock, $0.001 par value, 50,000,000 shares authorized; none issued and outstanding	0
Accumulated Paid-In Capital	107,086
Accumulated Deficit	(2,528,180)
Total Shareholders’ Deficit	(2,384,475)
Total Liabilities and Shareholders’ Deficit	242,113
Common Class A [Member]
Shareholders’ Deficit
Common stock	35,786
Total Shareholders’ Deficit	35,786
Common Class B [Member]
Shareholders’ Deficit
Common stock	833
Total Shareholders’ Deficit	$ 833

CONSOLIDATED BALANCE SHEET _Par

CONSOLIDATED BALANCE SHEET [Parenthetical]	Sep. 30, 2015$ / sharesshares
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.001
Preferred Stock, Shares Authorized	50,000,000
Preferred Stock, Shares Issued	0
Preferred Stock, Shares Outstanding	0
Common Class A [Member]
Common stock, par value per share | $ / shares	$ 0.001
Common stock, shares authorized	2,000,000,000
Common stock, shares issued	35,785,858
Common stock, shares outstanding	35,785,858
Common Class B [Member]
Common stock, par value per share | $ / shares	$ 0.001
Common stock, shares authorized	100,000,000
Common stock, shares issued	833,457
Common stock, shares outstanding	833,457

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS	12 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Operating Expenses
Selling, general and administrative	$ 2,528,180
Loss from operations	(2,528,180)
Other income and expense	0
Loss before income tax provision	(2,528,180)
Income tax provision	0
Net loss	$ (2,528,180)
Basic and diluted loss per common share | $ / shares	$ (1.42)
Weighted average shares outstanding | shares	1,781,486

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - 12 months ended Sep. 30, 2015 - USD ($)	Total	Retained Earnings [Member]	Additional Paid-in Capital [Member]	Common Class A [Member]	Common Class B [Member]
Balance at Oct. 14, 2014	$ 0	$ 0	$ 0	$ 0	$ 0
Balance (in shares) at Oct. 14, 2014				0	0
Issuance of common stock under subscription agreement	4,798	0	1,176	$ 3,579	$ 43
Issuance of common stock under subscription agreement (Shares)				35,785,858	430.707
Effect of reverse merger agreement	(244)	0	(33,215)	$ 32,207	$ 764
Effect of reverse merger agreement (Shares)				0	376.500
Issuance of common stock under subscription agreement	139,151	0	139,125	$ 0	$ 26
Issuance of common stock under subscription agreement (Shares)				0	26,250
Net loss for the period ended September 30, 2015	(2,528,180)	(2,528,180)	0	$ 0	$ 0
Balance at Sep. 30, 2015	$ (2,384,475)	$ (2,528,180)	$ 107,086	$ 35,786	$ 833
Balance (in shares) at Sep. 30, 2015				35,785,858	833,457

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS	12 Months Ended
	Sep. 30, 2015USD ($)
Cash flow from operating activities
Net loss	$ (2,528,180)
Amortization expense	24,375
Stock-based compensation	139,126
Changes in operating assets and liabilities
Accounts payable	672,113
Accounts payable, related parties	1,124,356
Accrued liabilities, related parties	805,000
Net cash provided by operating activities	236,790
Purchase of other asset	(2,500)
Net cash used in investing activities	(2,500)
Proceeds from issuance of common stock	5,323
Payments on offering costs towards issuance of common stock	(237,398)
Net cash used in financing activities	(232,075)
Net increase in cash	2,215
Cash at beginning of period	0
Cash at end of period	2,215
Supplemental cash flow information
Cash paid for interest	0
Cash paid for income taxes	0
Supplemental disclosure of non-cash transactions
Noncash or Part Noncash Acquisition, Intangible Assets Acquired	$ 24,375

FORMATION, CORPORATE CHANGES AN

FORMATION, CORPORATE CHANGES AND MATERIAL MERGERS AND ACQUISITIONS	12 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	NOTE A – FORMATION, CORPORATE CHANGES AND MATERIAL MERGERS AND ACQUISITIONS Online Yearbook was incorporated in the State of Nevada on August 6, 2012. Online Yearbook was a development stage company with the principal business objective of developing and marketing an online yearbook. On November 17, 2014, Rocky Mountain Resource Holdings LLC, a Nevada limited liability company (the “Purchaser”) became the majority shareholder of Online Yearbook, by acquiring 5,200,000 69.06 357,670 RMR Industrials, Inc. (the “Company” or “RMRI”) seeks to acquire and consolidate complimentary industrial assets. Typically these small to mid-sized assets are the core manufacturer and supplier of specific bulk commodity minerals and chemicals distributed to the global manufacturer industry. RMRI’s consolidation strategy is to assemble a portfolio of mature and value-add industrial commodities businesses to generate scalable enterprises with a vast portfolio of products and services addressing a common and stable customer base. On February 27, 2015 (the “Closing Date”), the Company entered into and consummated a merger transaction pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, OLYB Acquisition Corporation, a Nevada corporation and wholly owned subsidiary of the Company (“Merger Sub”) and RMR IP, Inc., a Nevada corporation (“RMR IP”). In accordance with the terms of Merger Agreement, on the Closing Date, Merger Sub merged with and into RMR IP (the “Merger”), with RMR IP surviving the Merger as our wholly owned subsidiary. RMR IP was formed to acquire and consolidate complimentary industrial commodity assets through capitalizing on the volatile oil markets, down cycles in commodity markets, and other ancillary opportunities. RMR IP is focused on managing the supply chain in order to offer a large and diverse set of products and services. The Merger Agreement includes customary representations, warranties and covenants made by the Company, Merger Sub and RMR IP as of specific dates. The assertions embodied in those representations and warranties were made solely for purposes of the Merger Agreement and are not intended to provide factual, business, or financial information about the Company, Merger Sub and RMR IP. Moreover, some of those representations and warranties (i) may not be accurate or complete as of any specified date, (ii) may be subject to a contractual standard of materiality different from those generally applicable to shareholders or different from what a shareholder might view as material, (iii) may have been used for purposes of allocating risk among the Company, Merger Sub and RMR IP, rather than establishing matters as facts, and/or (iv) may have been qualified by certain disclosures not reflected in the Merger Agreement that were made to the other party in connection with the negotiation of the Merger Agreement and generally were solely for the benefit of the parties to the Merger Agreement. For financial reporting purposes, the Merger represents a “reverse merger” rather than a business combination and RMR IP is deemed to be the accounting acquirer in the transaction. Consequently, the assets and liabilities and the historical operations that will be reflected in the Company’s future financial statements will be those of RMR IP. The Company’s assets, liabilities and results of operations will be consolidated with the assets, liabilities and results of operations of RMR IP after consummation of the Merger, and the historical financial statements of the Company before the Merger will be replaced with the historical financial statements of RMR IP before the Merger in all future filings with the SEC. On March 10, 2015, we formed United States Talc and Minerals Inc. (“US Talc and Minerals”), incorporated in the State of Nevada as a wholly-owned subsidiary of the Company for the purpose of facilitating future acquisitions. Basis of Presentation and Consolidation The accompanying consolidated financial statements for the period ended September 30, 2015 have been prepared in accordance with accounting principles generally accepted in the United States for annual financial information in accordance with Securities and Exchange Commission (SEC) Regulations.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of significant accounting policies of the Company is presented to assist in understanding the Company’s consolidated financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied in the preparation of the accompanying consolidated financial statements. These consolidated financial statements and notes are representations of the Company’s management who are responsible for their integrity and objectivity. Consolidation The consolidated financial statements include the financial condition and results of operations of our wholly-owned subsidiary, US Talc and Minerals, where intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the consolidated 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, 2015 and the results of operations and cash flows for the periods then ended. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that impact the reported amounts of assets, liabilities, and expenses, and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from those estimated amounts and assumptions used in the preparation of the financial statements. Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment. Cash and Cash Equivalents The Company considers all highly liquid securities with original maturities of three months or less at the date of purchase to be cash equivalents. As of September 30, 2015, the Company had cash of $ 2,215 Deferred Financing Costs The Company incurred financing costs related to a registered offering which was completed in November, 2015. Other Assets Other assets consist of a deposit towards the acquisition of certain intellectual property rights. Impairment of Long-Lived Assets The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. Factors considered include: • Significant changes in the operational performance or manner of use of acquired assets or the strategy for our overall business, • Significant negative market conditions or economic trends, and • Significant technological changes or legal factors which may render the asset obsolete. The Company evaluated long-lived assets based upon an estimate of future undiscounted cash flows. Recoverability of these assets is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset. An impairment loss is recognized when the carrying value exceeds the undiscounted future cash flows estimated to result from the use and eventual disposition of the asset. Future net undiscounted cash flows include estimates of future revenues and expenses which are based on projected growth rates. The Company continually uses judgment when applying these impairment rules to determine the timing of the impairment tests, the undiscounted cash flows used to assess impairments and the fair value of a potentially impaired asset. Fair Value Measurements The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: - Level 1: Quoted market prices in active markets for identical assets or liabilities - Level 2: Observable market-based inputs or inputs that are corroborated by market data - Level 3: Unobservable inputs that are not corroborated by market data Net Loss per Common Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period, without consideration for the potentially dilutive effects of converting stock options or restricted stock purchase rights outstanding. Diluted net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period and the potential dilutive effects of stock options or restricted stock purchase rights outstanding during the period determined using the treasury stock method. There are no such anti-dilutive common share equivalents outstanding as September 30, 2015 which were excluded from the calculation of diluted loss per common share. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires, among other things, that deferred income taxes be provided for temporary differences between the tax bases of the Company's assets and liabilities and their financial statement reported amounts. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is recorded by the Company when it is more likely than not that some portion or all of a deferred tax asset will not be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, and ongoing prudent and feasible tax planning strategies in assessing the amount of the valuation allowance. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. Additionally, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. Accordingly, the Company establishes reserves for uncertain tax positions. The Company has not recognized interest or penalties in its statement of operations and comprehensive loss since inception. Recent Accounting Pronouncements The Financial Accounting Standards Board recently issued Accounting Standards Update (ASU) 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Financial Accounting Standards Board recently issued 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, which eliminates the financial reporting distinction of being a development stage entity within U.S. generally accepted accounting principles. Accordingly, the ASU eliminates the incremental requirements for development stage entities to (a) present inception-to-date information in the statements of income, cash flows and shareholder’s equity, (b) label the financial statements as those of a development stage entity, (c) disclose a description of the development stage activities in which the entity is engaged and (d) disclose in the first year in which the development stage entity that in prior years it had been in the development stage. The amendments related to the elimination of inception-to-date information should be applied retrospectively. For public business entities, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early application of each of these amendments is permitted for any annual reporting period or interim period for which the entity’s financials statements has not yet been issued. The Company has elected early application of these amendments in these financial statements. Management believes recently issued accounting pronouncements will have no impact on the financial statements of the Company.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Sep. 30, 2015
Going Concern [Abstract]
Going Concern [Text Block]	NOTE C – GOING CONCERN The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern. The Company’s net loss and working capital deficit raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements for the period from October 15, 2014 (inception) through September 30, 2015 do not include any adjustments to reflect the possible future effects of the recoverability and classification of assets or the amounts and classification of liabilities that may result from uncertainty related to the Company’s ability to continue as a going concern. The Company may never become profitable, or if it does, it may not be able to sustain profitability on a recurring basis. Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the business plan and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern. During the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with research and development. The Company may experience a cash shortfall and be required to raise additional capital. Historically, it has mostly relied upon funds from the sale of shares of stock and from acquiring loans to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse effect upon it and its shareholders. In the past year, the Company funded operations by using cash proceeds received through the issuance of common stock and proceeds from related party debt. For the coming year, the Company plans to continue to fund the Company through debt and securities sales and issuances until the company generates enough revenues through the operations as stated above.

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	12 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE D – TRANSACTIONS WITH RELATED PARTIES Since inception, the Company accrued $ 1,148,732 805,000 35,000 On February 1, 2015, RMR, IP entered into a management services agreement with Industrial Management LLC (“IM”), to provide services to RMR, IP and affiliated entities, which include assistance in operational and administrative matters, identifying, analyzing, and structuring growth initiatives, and potential strategic acquisitions. As compensation for these services, RMR, IP will pay to IM an annual cash management fee in an amount equal to the greater of 2% of the Company’s annual gross revenues or $1,000,000 75 15

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	NOTE E – INTANGIBLE ASSETS The Company obtained an Option Agreement (“Option Agreement”) from RMR Holdings, Inc. with the Colorado School of Mines (“CSM”), which grants the Company an exclusive nine month option period to obtain an exclusive license for any patent rights owned by CSM. On August 25, 2014, CSM entered into the Option Agreement with the Company for a non-refundable fee of $ 30,000 5,625 24,375 2,500 3,000

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	12 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE F – SHAREHOLDERS’ DEFICIT Reverse Stock Split On September 4, 2015, the Company implemented a reverse stock split of all of its authorized and issued and outstanding shares of Class B Common Stock in ratio of one-for-twenty Preferred Stock The Company has authorized 50,000,000 Common Stock The Company has authorized 2,100,000,000 2,000,000,000 100,000,000 35,785,858 833,457 The holders of Class A Common Stock will have the right to vote on all matters on which stockholders have the right to vote. The holders of Class B Common Stock will have the right to vote solely on matters where the vote of such holders is explicitly required under Nevada law. The holders of Class A Common Stock and Class B Common stock will have equal distribution rights, provided that distributions in securities shall be made in either identical securities or securities with similar voting characteristics. The holders of Class A Common Stock and Class B Common Stock will be entitled to receive identical per-share consideration upon a merger, conversion or exchange of the Company with another entity, and will have equal rights upon dissolutions, liquidation or winding-up. In August 2015, the Company issued 26,250 139,650 525 139,125

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE G – INCOME TAXES There is no provision for income taxes because the Company has incurred operating losses since inception. At September 30, 2015, the Company has concluded that it is more likely than not that the Company may not realize the benefit of its deferred tax assets due to losses generated and uncertainties surrounding its ability to generate future taxable income. Accordingly, the net deferred tax assets have been fully reserved. September 30, Deferred tax asset: Net operating loss carryforwards $ 1,030,132 Valuation allowance (1,030,132) Net deferred tax asset $ - September 30, Tax benefit at statutory rates $ (1,030,132) Change in valuation allowance 1,030,132 Net provision for income taxes $ - The Company has accumulated net operating loss carryovers of approximately $ 2,528,180 2033

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE H – SUBSEQUENT EVENT On November 1, 2015 the Company paid an advance deposit of $ 2,500 On November 6, 2015 the Company entered into subscription agreements with several accredited investors (the "Purchasers") to offer and sell 147,500 10.00 1,475,000 Each Unit entitles the Purchaser to one share of Class B Common Stock of the Company and a warrant to purchase one share of Class B Common Stock at an exercise price of $12.50 with a term of five years.

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation The consolidated financial statements include the financial condition and results of operations of our wholly-owned subsidiary, US Talc and Minerals, where intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the consolidated 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, 2015 and the results of operations and cash flows for the periods then ended.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that impact the reported amounts of assets, liabilities, and expenses, and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from those estimated amounts and assumptions used in the preparation of the financial statements.
Segment Reporting, Policy [Policy Text Block]	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid securities with original maturities of three months or less at the date of purchase to be cash equivalents. As of September 30, 2015, the Company had cash of $ 2,215
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Costs The Company incurred financing costs related to a registered offering which was completed in November, 2015.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Other Assets Other assets consist of a deposit towards the acquisition of certain intellectual property rights.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. Factors considered include: • Significant changes in the operational performance or manner of use of acquired assets or the strategy for our overall business, • Significant negative market conditions or economic trends, and • Significant technological changes or legal factors which may render the asset obsolete. The Company evaluated long-lived assets based upon an estimate of future undiscounted cash flows. Recoverability of these assets is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset. An impairment loss is recognized when the carrying value exceeds the undiscounted future cash flows estimated to result from the use and eventual disposition of the asset. Future net undiscounted cash flows include estimates of future revenues and expenses which are based on projected growth rates. The Company continually uses judgment when applying these impairment rules to determine the timing of the impairment tests, the undiscounted cash flows used to assess impairments and the fair value of a potentially impaired asset.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value Measurements The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: - Level 1: Quoted market prices in active markets for identical assets or liabilities - Level 2: Observable market-based inputs or inputs that are corroborated by market data - Level 3: Unobservable inputs that are not corroborated by market data
Earnings Per Share, Policy [Policy Text Block]	Net Loss per Common Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period, without consideration for the potentially dilutive effects of converting stock options or restricted stock purchase rights outstanding. Diluted net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period and the potential dilutive effects of stock options or restricted stock purchase rights outstanding during the period determined using the treasury stock method. There are no such anti-dilutive common share equivalents outstanding as September 30, 2015 which were excluded from the calculation of diluted loss per common share.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires, among other things, that deferred income taxes be provided for temporary differences between the tax bases of the Company's assets and liabilities and their financial statement reported amounts. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is recorded by the Company when it is more likely than not that some portion or all of a deferred tax asset will not be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, and ongoing prudent and feasible tax planning strategies in assessing the amount of the valuation allowance. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. Additionally, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. Accordingly, the Company establishes reserves for uncertain tax positions. The Company has not recognized interest or penalties in its statement of operations and comprehensive loss since inception.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements The Financial Accounting Standards Board recently issued Accounting Standards Update (ASU) 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Financial Accounting Standards Board recently issued 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, which eliminates the financial reporting distinction of being a development stage entity within U.S. generally accepted accounting principles. Accordingly, the ASU eliminates the incremental requirements for development stage entities to (a) present inception-to-date information in the statements of income, cash flows and shareholder’s equity, (b) label the financial statements as those of a development stage entity, (c) disclose a description of the development stage activities in which the entity is engaged and (d) disclose in the first year in which the development stage entity that in prior years it had been in the development stage. The amendments related to the elimination of inception-to-date information should be applied retrospectively. For public business entities, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early application of each of these amendments is permitted for any annual reporting period or interim period for which the entity’s financials statements has not yet been issued. The Company has elected early application of these amendments in these financial statements. Management believes recently issued accounting pronouncements will have no impact on the financial statements of the Company.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Net deferred tax assets consist of the following components: September 30, Deferred tax asset: Net operating loss carryforwards $ 1,030,132 Valuation allowance (1,030,132) Net deferred tax asset $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income statutory tax rates to pretax income (loss) from continuing operations as follows: September 30, Tax benefit at statutory rates $ (1,030,132) Change in valuation allowance 1,030,132 Net provision for income taxes $ -

FORMATION, CORPORATE CHANGES 17

FORMATION, CORPORATE CHANGES AND MATERIAL MERGERS AND ACQUISITIONS (Details Textual) - Rocky Mountain Resource Holdings LLC [Member]	1 Months Ended
	Nov. 17, 2014USD ($)shares
Formation Corporate Changes and Material Mergers And Acquisitions [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	5,200,000
Business Acquisition, Percentage of Voting Interests Acquired	69.06%
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $	$ 357,670

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	Sep. 30, 2015	Oct. 14, 2014
Cash	$ 2,215	$ 0

TRANSACTIONS WITH RELATED PAR19

TRANSACTIONS WITH RELATED PARTIES (Details Textual)	12 Months Ended
	Sep. 30, 2015USD ($)
Related Party Transaction [Line Items]
Accrued Liabilities	$ 1,148,732
Industrial Management LLC [Member]
Related Party Transaction [Line Items]
Management Fee, Description	annual cash management fee in an amount equal to the greater of 2% of the Companys annual gross revenues or $1,000,000
Royalty Percentage	75.00%
Preferred Stock, Dividend Rate, Percentage	15.00%
Officer [Member]
Related Party Transaction [Line Items]
Officers' Compensation	$ 35,000
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Accrued Salaries, Current	$ 805,000

INTANGIBLE ASSETS (Details Text

INTANGIBLE ASSETS (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2015	Nov. 01, 2015
Amortization of Intangible Assets	$ 5,625
Subsequent Event [Member]
Advance License Fee		$ 2,500
Option Agreement [Member]
Non Refundable fee	30,000
Finite-Lived Intangible Assets, Gross	24,375
Exchange Fees	$ 3,000

STOCKHOLDERS' DEFICIT (Details

STOCKHOLDERS' DEFICIT (Details Textual)	12 Months Ended
	Sep. 30, 2015USD ($)shares
Preferred Stock, Shares Authorized	50,000,000
Stockholders' Equity, Reverse Stock Split	one-for-twenty
Issuance of common stock under subscription agreement | $	$ 139,151
Share-based Compensation, Total | $	$ 139,126
Common Stock [Member]
Common stock, shares authorized	2,100,000,000
Common Class A [Member]
Common stock, shares authorized	2,000,000,000
Common Stock, Shares, Issued	35,785,858
Issuance of common stock under subscription agreement | $	$ 0
Issuance of common stock under subscription agreement (Shares)	0
Common Class B [Member]
Common stock, shares authorized	100,000,000
Common Stock, Shares, Issued	833,457
Issuance of common stock under subscription agreement | $	$ 26
Issuance of common stock under subscription agreement (Shares)	26,250
Proceeds from Issuance of Common Stock | $	$ 525

INCOME TAXES (Details)

INCOME TAXES (Details)	Sep. 30, 2015USD ($)
Deferred tax asset:
Net operating loss carryforwards	$ 1,030,132
Valuation allowance	(1,030,132)
Net deferred tax asset	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Sep. 30, 2015USD ($)
Tax benefit at statutory rates	$ (1,030,132)
Change in valuation allowance	1,030,132
Net provision for income taxes	$ 0

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual)	12 Months Ended
	Sep. 30, 2015USD ($)
Operating Loss Carryforwards	$ 2,528,180
Operating Loss Carryforwards Expiration Period	2,033

SUBSEQUENT EVENT (Details Textu

SUBSEQUENT EVENT (Details Textual) - Subsequent Event [Member] - USD ($)	Nov. 06, 2015	Nov. 01, 2015
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	147,500
Sale of Stock, Price Per Share	$ 10
Advance License Fee		$ 2,500
Sale of Stock, Consideration Received on Transaction	$ 1,475,000
Sale of Stock, Description of Transaction	Each Unit entitles the Purchaser to one share of Class B Common Stock of the Company and a warrant to purchase one share of Class B Common Stock at an exercise price of $12.50 with a term of five years.