Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 19, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'POWERSTORM CAPITAL CORP | ' |
Entity Central Index Key | '0001558294 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 20,892,901 |
Balance_Sheets
Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash | $6,293 | $7,543 |
Prepaid expenses | 999 | 1,402 |
Total current assets | 7,292 | 8,945 |
Furniture and office equipment, net | 4,964 | 5,584 |
Trademarks | 6,733 | 5,828 |
Other assets | 2,500 | 2,500 |
TOTAL ASSETS | 21,489 | 22,857 |
CURRENT LIABILITIES | ' | ' |
Accounts payable | 47,260 | 52,486 |
Advances from related party | 46,670 | 24,171 |
Total Liabilities | 93,930 | 76,657 |
Commitments and contingencies | ' | ' |
STOCKHOLDERS' DEFICIT | ' | ' |
Preferred stock, par value $0.01 per share, 5,000,000 shares authorized; none issued and outstanding | ' | ' |
Common stock, par value $0.001 per share, 300,000,000 shares authorized; 20,852,901 and 20,116,381 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively | 20,853 | 20,116 |
Additional paid-in capital | 244,303 | 157,533 |
Accumulated deficit | -337,597 | -231,449 |
TOTAL STOCKHOLDERS' DEFICIT | -72,441 | -53,800 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $21,489 | $22,857 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Balance Sheets [Abstract] | ' | ' |
Preferred stock, par value per share | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares issued | 20,852,901 | 20,116,381 |
Common stock, shares outstanding | 20,852,901 | 20,116,381 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Statements of Operations [Abstract] | ' | ' | ' | ' |
REVENUES | $13,455 | $4,400 | $26,305 | $6,600 |
OPERATING EXPENSES: | ' | ' | ' | ' |
General and administrative | 73,909 | 34,540 | 145,858 | 62,397 |
Depreciation expense | 310 | 281 | 620 | 530 |
Total operating expenses | 74,219 | 34,821 | 146,478 | 62,927 |
Loss from operations | -60,764 | -30,421 | -120,173 | -56,327 |
Gain on settlement of accounts payable | ' | ' | 14,025 | ' |
Other income | ' | ' | ' | 270 |
NET LOSS | ($60,764) | ($30,421) | ($106,148) | ($56,057) |
Loss per common share - basic and diluted | $0 | $0 | ($0.01) | $0 |
Weighted average number of common shares outstanding - basic and diluted | 20,852,901 | 19,449,461 | 20,490,745 | 19,344,371 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net loss | ($106,148) | ($56,057) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Share-based compensation | 1,855 | ' |
Gain on settlement of accounts payable | -14,025 | ' |
Depreciation expense | 620 | 530 |
Changes in operating assets and liabilities: | ' | ' |
Prepaid expenses | 403 | -494 |
Accounts payable | 8,799 | 18,657 |
Net cash used in operating activities | -108,496 | -37,364 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Purchases of furniture and office equipment | ' | -871 |
Acquisition of trademarks | -905 | -629 |
Net cash used in investing activities | -905 | -1,500 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Issuances of common stock for cash | ' | 15,000 |
Advances from related party | 108,151 | 24,518 |
Net cash provided by financing activities | 108,151 | 39,518 |
Net change in cash and cash equivalents | -1,250 | 654 |
Cash and cash equivalents - beginning of period | 7,543 | 3,559 |
Cash and cash equivalents - end of period | 6,293 | 4,213 |
Supplemental disclosure of cash flows information: | ' | ' |
Cash paid during the period for: Interest | ' | ' |
Cash paid during the period for: Income taxes | ' | ' |
Non-cash investing and financing activities: | ' | ' |
Shares issued to pay for the related party advances | 73,652 | 38,298 |
Additional paid-in capital contribution by shareholder to pay accounts payable on behalf of the Company | $12,000 | ' |
GENERAL_ORGANIZATION_AND_BUSIN
GENERAL ORGANIZATION AND BUSINESS OPERATIONS | 6 Months Ended |
Jun. 30, 2014 | |
GENERAL ORGANIZATION AND BUSINESS OPERATIONS [Abstract] | ' |
GENERAL ORGANIZATION AND BUSINESS OPERATIONS | ' |
NOTE 1 – GENERAL ORGANIZATION AND BUSINESS OPERATIONS | |
Powerstorm Capital Corp. (the “Company”) was incorporated in Delaware on October 10, 2011 and is located in Rancho Palos Verdes, California. The Company was formed solely for the purpose of identifying and entering into business acquisitions within the telecommunications infrastructure space. To date, the Company has not entered into any discussions or negotiations with any companies it would intend to acquire. The Company's management intends to focus on targets located primarily in Asia, South America, and Western and Eastern Europe, as it believes that businesses with operating history and growth potential in these locations would benefit significantly from access to the United States capital markets and may offer the potential for capital appreciation stemming from the economic growth in such emerging markets. |
BASIS_OF_PRESENTATION_AND_SUMM
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2014 | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | |
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). In the opinion of management, these financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. | |
The accompanying unaudited interim financial statements as of June 30, 2014 and for the three and six months ended June 30, 2014 and 2013 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and on the same basis as the annual audited financial statements. In the opinion of management, these financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. The results for interim periods are not necessarily indicative of results for the entire year. The balance sheet at December 31, 2013 has been derived from audited financial statements; however, the notes to the financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. The accompanying unaudited interim financial statements should be read in conjunction with the financial statements and notes thereto for the period ended December 31, 2013 included in 10-K filed with SEC on April 15, 2014. | |
Use of Estimates | |
The preparation of financial statements in conformity with US GAAP 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. | |
Cash and Cash Equivalents | |
The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. | |
Intangible Assets | |
The Company's intangible assets consist of trademarks with indefinite life. The Company capitalizes the filing and legal fees related to the trademark registrations, which totaled $6,733 and $5,828 as of June 30, 2014 and December 31, 2013, respectively. | |
The Company reviews its indefinite-lived intangible assets for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. The Company assesses recoverability by reference to future cash flows from the products underlying these intangible assets. If these estimates change in the future, the Company may be required to record impairment charges for these assets. As of June 30, 2014, no impairment was recorded. | |
Furniture and Office Equipment | |
Furniture and office equipment is stated at cost and depreciated using the straight-line method over 7 years, the estimated life of the asset. Computers and software developed or obtained for internal use are depreciated using the straight-line method over the estimated useful life of 5 years. Repairs and maintenance are charged to expense as incurred. | |
Income Taxes | |
The Company uses the asset and liability method in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and income tax carrying amounts of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company reviews deferred tax assets for a valuation allowance based upon whether it is more likely than not that the deferred tax asset will be fully realized. A valuation allowance, if necessary, is provided against deferred tax assets, based upon management's assessment as to their realization. | |
Revenues Recognition | |
The Company' revenue generated consisted of revenues from consulting and advisory services. Revenue is recognized at the time when a price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured. | |
Stock-Based Compensation | |
The Company expenses the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments over the service period. | |
Equity instruments issued to parties other than employees for acquiring goods or services are recorded at either the fair value of the consideration received or the fair value of the instruments issued in exchange for such services, whichever is more reliably measurable. | |
Net Loss per Common Share | |
Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the diluted weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. There were no potentially dilutive securities as of June 30, 2014 and December 31, 2013. | |
Recent Accounting Pronouncements | |
In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 for the reporting period ended June 30, 2014. | |
Subsequent Events | |
The Company evaluates subsequent events through the date when financial statements are issued for disclosure consideration. |
GOING_CONCERN
GOING CONCERN | 6 Months Ended |
Jun. 30, 2014 | |
GOING CONCERN [Abstract] | ' |
GOING CONCERN | ' |
NOTE 3 – GOING CONCERN | |
The accompanying financial statements were prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and depends upon the Company's ability to establish itself as a profitable business. The Company is a development stage company and has incurred an accumulated loss of $337,597 since inception. The Company has negative working capital of $86,638 and will require additional funds to finance its business plan for the next twelve months. Due to the start-up nature of the Company, the Company expects to incur additional losses in the immediate future. The Company's ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. To date, the Company's founders have provided funding for operations until the Company raises sufficient capital to provide for the first-year operating expenses. | |
The Company is planning to obtain financing either through the issuance of equity or debt. To the extent that funds generated from any private placements, public offerings, and/or bank financings are insufficient, the Company will have to raise additional working capital through other sources. |
FURNITURE_AND_OFFICE_EQUIPMENT
FURNITURE AND OFFICE EQUIPMENT, NET | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
FURNITURE AND OFFICE EQUIPMENT, NET [Abstract] | ' | ||||||||
FURNITURE AND OFFICE EQUIPMENT, NET | ' | ||||||||
NOTE 4 – FURNITURE AND OFFICE EQUIPMENT, NET | |||||||||
June 30, 2014 | December 31, 2013 | ||||||||
Furniture and equipment | $ | 5,391 | $ | 5,391 | |||||
Computers and software | 2,183 | 2,183 | |||||||
Less: accumulated depreciation | (2,610 | ) | (1,990 | ) | |||||
Furniture and office equipment, net | $ | 4,964 | $ | 5,584 | |||||
During the three months ended June 30, 2014 and 2013, the Company recorded depreciation expense of $310 and $281, respectively. | |||||||||
During the six months ended June 30, 2014 and 2013, the Company recorded depreciation expense of $620 and $530, respectively. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2014 | |
RELATED PARTY TRANSACTIONS [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 5 – RELATED PARTY TRANSACTIONS | |
On March 22, 2013, the Company issued 137,800 shares of common stock to this related party entity as reimbursement for the advances and payments made on behalf of the Company. The shares were valued at the fair value of the expense reimbursement of $13,780. | |
On June 30, 2013, the Company issued 245,180 shares of common stock to this related party entity in full reimbursement for the advances and payments made on behalf of the Company. The shares were valued at the fair value of the expense reimbursement of $24,518. | |
On September 30, 2013, the Company issued 223,401 shares of common stock to this related party entity in full reimbursement for the advances and payments made on behalf of the Company. The shares were valued at the fair value of the expense reimbursement of $22,340. | |
On March 31, 2014, the Company issued 736,520 shares of common stock to this related party entity in full reimbursement for the advances and payments made on behalf of the Company of $73,652. The shares were valued at the fair value of $0.1 per share. | |
As of June 30, 2014 and December 31, 2013, the Company owed to this related party entity $46,670 and $24,171, respectively. |
EQUITY
EQUITY | 6 Months Ended | ||
Jun. 30, 2014 | |||
EQUITY [Abstract] | ' | ||
EQUITY | ' | ||
NOTE 6 – EQUITY | |||
Common shares | |||
The Company is authorized to issue 305,000,000 shares of capital stock. These shares are divided into two classes with 300,000,000 shares designated as common stock at $0.001 par value and 5,000,000 shares designated as preferred stock at $0.01 par value. | |||
During the six months ended June 30, 2014, the Company issued: | |||
- | 736,520 shares of common stock to a related party entity for advances to the Company and payments made on behalf of the Company of $73,652. These shares were valued at the fair value of $0.01 per share. | ||
During the six months ended June 30, 2013, the Company issued: | |||
- | On March 22, 2013 - 137,800 shares of common stock to a related party entity for advances to the Company and payments made on behalf of the Company. These shares were valued at the fair value of the expense reimbursement and assets purchased of $13,780. | ||
- | On May 2, 2013 - 50,000 shares of common stock to a third party for cash proceeds of $5,000. | ||
- | On May 17, 2013 - 100,000 shares of common stock to a third party for cash proceeds of $10,000. | ||
- | On June 30, 2013 - 245,180 shares of common stock to a related party entity for advances to the Company and payments made on behalf of the Company. These shares were valued at the fair value of the expense reimbursement and assets purchased of $24,518. | ||
Stock-based compensation expense | |||
During the six months ended June 30, 2014, the Company appointed 5 new members to its board of advisors, and promised to issue 10,000 shares to each advisor upon completion of their one year term. As of June 30, 2014, the Company has not issued a share to the board of advisors. The Company recorded Share-based compensation and additional paid-in capital related to the shares of $1,855. |
GAIN_ON_SETTLEMENT_OF_ACCOUNTS
GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE | 6 Months Ended |
Jun. 30, 2014 | |
GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE [Abstract] | ' |
GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE | ' |
NOTE 7 – GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE | |
In 2014, the Company and one of its vendors reached a settlement on an outstanding account payable. The Company's vendor forgave $14,025 related to previous services provided and the Company recorded a gain on settlement of accounts payable of $14,025. |
COMMITMENTS_AND_CONTIGENCIES
COMMITMENTS AND CONTIGENCIES | 6 Months Ended |
Jun. 30, 2014 | |
COMMITMENTS AND CONTIGENCIES [Abstract] | ' |
COMMITMENTS AND CONTIGENCIES | ' |
NOTE 8 – COMMITMENTS AND CONTIGENCIES | |
On May 12, 2014, the Company entered into a supply contract with a third party from Republic of Azerbaijan. In accordance with the agreement, the Company will sell the batteries and related components and provide services and the total commitment value of the agreement is 69,358 Euros (approximately $95,419 USD). 30% of the total amount above shall be paid in advance within 5 banking days from the receipt of the invoice from the Company by the third party. 60% of the total amount shall be paid within 20 banking days after completion of the delivery of the goods and receipt of the delivery documents. The remaining 10% shall be paid after completion of the installation and commissioning and signature by this third party and the Company. As of June 30, 2014, no activity has been executed and therefore no revenue is recorded. |
BASIS_OF_PRESENTATION_AND_SUMM1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy) | 6 Months Ended |
Jun. 30, 2014 | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). In the opinion of management, these financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. | |
The accompanying unaudited interim financial statements as of June 30, 2014 and for the three and six months ended June 30, 2014 and 2013 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and on the same basis as the annual audited financial statements. In the opinion of management, these financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. The results for interim periods are not necessarily indicative of results for the entire year. The balance sheet at December 31, 2013 has been derived from audited financial statements; however, the notes to the financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. The accompanying unaudited interim financial statements should be read in conjunction with the financial statements and notes thereto for the period ended December 31, 2013 included in 10-K filed with SEC on April 15, 2014. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with US GAAP 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. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. | |
Intangible Assets | ' |
Intangible Assets | |
The Company's intangible assets consist of trademarks with indefinite life. The Company capitalizes the filing and legal fees related to the trademark registrations, which totaled $6,733 and $5,828 as of June 30, 2014 and December 31, 2013, respectively. | |
The Company reviews its indefinite-lived intangible assets for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. The Company assesses recoverability by reference to future cash flows from the products underlying these intangible assets. If these estimates change in the future, the Company may be required to record impairment charges for these assets. As of June 30, 2014, no impairment was recorded. | |
Furniture and Office Equipment | ' |
Furniture and Office Equipment | |
Furniture and office equipment is stated at cost and depreciated using the straight-line method over 7 years, the estimated life of the asset. Computers and software developed or obtained for internal use are depreciated using the straight-line method over the estimated useful life of 5 years. Repairs and maintenance are charged to expense as incurred. | |
Income Taxes | ' |
Income Taxes | |
The Company uses the asset and liability method in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and income tax carrying amounts of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company reviews deferred tax assets for a valuation allowance based upon whether it is more likely than not that the deferred tax asset will be fully realized. A valuation allowance, if necessary, is provided against deferred tax assets, based upon management's assessment as to their realization. | |
Revenues Recognition | ' |
Revenues Recognition | |
The Company' revenue generated consisted of revenues from consulting and advisory services. Revenue is recognized at the time when a price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured. | |
Stock-Based Compensation | ' |
Stock-Based Compensation | |
The Company expenses the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments over the service period. | |
Equity instruments issued to parties other than employees for acquiring goods or services are recorded at either the fair value of the consideration received or the fair value of the instruments issued in exchange for such services, whichever is more reliably measurable. | |
Net Loss per Common Share | ' |
Net Loss per Common Share | |
Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the diluted weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. There were no potentially dilutive securities as of June 30, 2014 and December 31, 2013. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 for the reporting period ended June 30, 2014. | |
Subsequent Events | ' |
Subsequent Events | |
The Company evaluates subsequent events through the date when financial statements are issued for disclosure consideration. |
FURNITURE_AND_OFFICE_EQUIPMENT1
FURNITURE AND OFFICE EQUIPMENT, NET (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
FURNITURE AND OFFICE EQUIPMENT, NET [Abstract] | ' | ||||||||
Schedule of Furniture and Office Equipment, Net | ' | ||||||||
June 30, 2014 | December 31, 2013 | ||||||||
Furniture and equipment | $ | 5,391 | $ | 5,391 | |||||
Computers and software | 2,183 | 2,183 | |||||||
Less: accumulated depreciation | (2,610 | ) | (1,990 | ) | |||||
Furniture and office equipment, net | $ | 4,964 | $ | 5,584 | |||||
BASIS_OF_PRESENTATION_AND_SUMM2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 |
Furniture and equipment [Member] | Computers and software [Member] | |||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Trademarks | $6,733 | $5,828 | ' | ' |
Estimated useful life | ' | ' | '7 years | '5 years |
GOING_CONCERN_Details
GOING CONCERN (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
GOING CONCERN [Abstract] | ' | ' |
Deficit accumulated during the development stage | ($337,597) | ($231,449) |
FURNITURE_AND_OFFICE_EQUIPMENT2
FURNITURE AND OFFICE EQUIPMENT, NET (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Less: accumulated depreciation | ($2,610) | ' | ($2,610) | ' | ($1,990) |
Furniture and office equipment, net | 4,964 | ' | 4,964 | ' | 5,584 |
Depreciation expense | 310 | 281 | 620 | 530 | ' |
Furniture and equipment [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | 5,391 | ' | 5,391 | ' | 5,391 |
Computers and software [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | $2,183 | ' | $2,183 | ' | $2,183 |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 22, 2013 | Mar. 31, 2014 |
Affiliated Entity [Member] | Affiliated Entity [Member] | Affiliated Entity [Member] | Affiliated Entity [Member] | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' |
Shares issued as reimbursement for advances and payments made on behalf of the Company | ' | ' | 223,401 | 245,180 | 137,800 | 736,520 |
Value of shares issued as reimbursement for advances and payments made on behalf of the Company | ' | ' | $22,340 | $24,518 | $13,780 | $73,652 |
Stock issued, price per share | ' | ' | ' | ' | ' | $0.10 |
Advances from related party | $46,670 | $24,171 | ' | ' | ' | ' |
EQUITY_Details
EQUITY (Details) (USD $) | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Stockholders Equity Note [Line Items] | ' | ' | ' |
Common stock, shares authorized | 300,000,000 | ' | 300,000,000 |
Common stock, par value per share | $0.00 | ' | $0.00 |
Preferred stock, shares authorized | 5,000,000 | ' | 5,000,000 |
Preferred stock, par value per share | $0.01 | ' | $0.01 |
Proceeds from issuance of common stock | ' | $15,000 | ' |
Share-based compensation | 1,855 | ' | ' |
Shares promised to directors | 10,000 | ' | ' |
Equity Issuance Transaction One [Member] | ' | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' | ' |
Issue Date | 30-Jun-14 | 22-Mar-13 | ' |
Stock issued, price per share | $0.01 | ' | ' |
Shares issued as reimbursement for advances and payments made on behalf of the Company | 736,520 | 137,800 | ' |
Value of shares issued as reimbursement for advances and payments made on behalf of the Company | 73,652 | 13,780 | ' |
Equity Issuance Transaction Two [Member] | ' | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' | ' |
Issue Date | ' | 2-May-13 | ' |
Shares issued for cash, shares | ' | 50,000 | ' |
Proceeds from issuance of common stock | ' | 5,000 | ' |
Equity Issuance Transaction Three [Member] | ' | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' | ' |
Issue Date | ' | 17-May-13 | ' |
Shares issued for cash, shares | ' | 100,000 | ' |
Proceeds from issuance of common stock | ' | 10,000 | ' |
Equity Issuance Transaction Four [Member] | ' | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' | ' |
Issue Date | ' | 30-Jun-13 | ' |
Shares issued as reimbursement for advances and payments made on behalf of the Company | ' | 245,180 | ' |
Value of shares issued as reimbursement for advances and payments made on behalf of the Company | ' | $24,518 | ' |
GAIN_ON_SETTLEMENT_OF_ACCOUNTS1
GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE [Abstract] | ' | ' | ' | ' |
Gain on settlement of accounts payable | ' | ' | $14,025 | ' |
COMMITMENTS_AND_CONTIGENCIES_D
COMMITMENTS AND CONTIGENCIES (Details) (Supply contract for batteries and related components and providing services) | 0 Months Ended | 6 Months Ended | |
12-May-14 | 12-May-14 | Jun. 30, 2014 | |
USD ($) | EUR (€) | USD ($) | |
COMMITMENTS AND CONTIGENCIES | ' | ' | ' |
Total commitment value of the agreement | $95,419 | € 69,358 | ' |
Percentage of total amount paid in advance within 5 banking days from the receipt of the invoice | 30.00% | 30.00% | ' |
Percentage of total amount to be paid within 20 banking days after completion of the delivery of the goods and receipt of the delivery documents | 60.00% | 60.00% | ' |
Percentage of total amount to be paid after completion of the installation and commissioning and signature by third party and the Company | 10.00% | 10.00% | ' |
Revenue recorded under contract | ' | ' | $0 |