Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 17, 2013 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Capstone Financial Group, Inc. | ' |
Entity Central Index Key | '0001558432 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 91,670,000 |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
Balance_Sheets_Unaudited
Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash | $45,566 | $6,140 |
Total current assets | 45,566 | 6,140 |
Line of credit receivable - related party | 370,000 | ' |
Accrued interest receivable - related party | 264 | ' |
Total assets | 415,830 | 6,140 |
Current liabilities: | ' | ' |
Accounts payable | 5,474 | 300 |
Total current liabilities | 5,474 | 300 |
Long term liabilities: | ' | ' |
Accrued interest payable | ' | 501 |
Accrued interest payable - related party | 358 | 283 |
Line of credit payable | ' | 35,000 |
Line of credit payable - related party | 154,443 | ' |
Notes payable - related party | ' | 10,000 |
Total long term liabilities | 154,801 | 45,784 |
Total liabilities | 160,275 | 46,084 |
Stockholders' equity (deficit): | ' | ' |
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no and no shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively | ' | ' |
Common stock, $0.001 par value, 2,000,000,000 shares authorized, 91,670,000 and 80,200,000 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively | 91,670 | 80,200 |
Additional paid in capital | 271,032 | -75,700 |
Deficit accumulated during development stage | -107,147 | -44,444 |
Total stockholders' equity (deficit) | 255,555 | -39,944 |
Total liabilities and stockholders' equity (deficit) | $415,830 | $6,140 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock par value | $0.00 | $0.00 |
Preferred stock shares authorized | 10,000,000 | 10,000,000 |
Preferred stock shares issued | 0 | 0 |
Preferred stock shares outstanding | 0 | 0 |
Common stock par value | $0.00 | $0.00 |
Common stock shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock shares issued | 91,670,000 | 91,670,000 |
Common stock shares outstanding | 80,200,000 | 80,200,000 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' |
Revenue | $121,627 | $121,627 | ' | $121,627 |
Operating expenses: | ' | ' | ' | ' |
General and administrative | 14,806 | 12,689 | 597 | 14,122 |
Professional fees | 204,708 | 52,636 | 10,800 | 161,732 |
Professional fee - related party | 5,000 | 5,000 | ' | 5,000 |
Total operating expenses | 224,514 | 70,325 | 11,397 | 180,854 |
Other income (expense): | ' | ' | ' | ' |
Interest income - related party | 264 | 264 | ' | 264 |
Interest expense | -3,464 | -652 | ' | -2,963 |
Interest expense - related party | -1,060 | -479 | -132 | -777 |
Total other expense | -4,260 | -867 | -132 | -3,476 |
Net loss | ($107,147) | $50,435 | ($11,529) | ($62,703) |
Weighted average number of common shares outstanding - basic | ' | 90,311,848 | 80,180,488 | 88,223,040 |
Net loss per share - basic | ' | $0 | $0 | $0 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net loss | ($107,147) | ($11,529) | ($62,703) |
Adjustments to reconcile net income to net cash used in operating activities: | ' | ' | ' |
Stock issued for services | 500 | 500 | ' |
Changes in operating assets and liabilities: | ' | ' | ' |
(Increase) in accrued interest receivable - related party | -264 | ' | -264 |
Increase in accounts payable | 5,474 | 300 | 5,174 |
(Decrease) in accrued interest payable | ' | ' | -501 |
Increase in accrued interest payable - related party | 1,060 | 132 | 777 |
Net cash used in operating activities | -100,377 | -10,597 | -57,517 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Payments for line of credit receivable - related party | -370,000 | ' | -370,000 |
Net cash used in investing activities | -370,000 | ' | -370,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from line of credit payable | 96,500 | ' | 61,500 |
Repayments on line of credit payable | -96,500 | ' | -96,500 |
Proceeds from line of credit - related party | 154,443 | ' | 154,443 |
Proceeds from notes payable - related party | 13,500 | 10,000 | 3,500 |
Proceeds from sale of common stock, net of offering costs | 348,000 | 4,000 | 344,000 |
Net cash provided by financing activities | 515,943 | 14,000 | 466,943 |
NET CHANGE IN CASH | 45,566 | 3,403 | 39,426 |
CASH AT BEGINNING OF PERIOD | ' | ' | 6,140 |
CASH AT END OF PERIOD | 45,566 | 3,403 | 45,566 |
SUPPLEMENTAL INFORMATION: | ' | ' | ' |
Interest paid | ' | ' | ' |
Income taxes paid | ' | ' | ' |
NON-CASH FINANCING ACTIVITIES: | ' | ' | ' |
Stock issued for services | 500 | ' | ' |
Forgiveness of debt - related party | $14,202 | ' | $14,202 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of presentation | |
The interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. | |
These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim financial statements be read in conjunction with the financial statements of the Company for the year ended December 31, 2012 and notes thereto included in the Company’s 10-K annual report. The Company follows the same accounting policies in the preparation of interim reports. | |
Results of operations for the interim period are not indicative of annual results. | |
Organization | |
The Company was incorporated on July 10, 2012 (Date of Inception) under the laws of the State of Nevada, as Creative App Solutions, Inc. On August 23, 2013, the Company amended its articles of incorporation and changed their name to Capstone Financial Group, Inc. | |
The Company has not commenced significant operations and, in accordance with ASC Topic 915, the Company is considered a development stage company. | |
Nature of operations | |
The Company will design and sell mobile application for the Apple and Android platforms. During the three months ended September 30, 2013 the Company changed its business plan and plans to offer financial services and consulting to businesses and they rely heavily on an officer, director and shareholder who hold the proper licenses in order to conduct business. | |
Cash and cash equivalents | |
For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. | |
Revenue recognition | |
We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable. | |
The Company will record revenue when it is realizable and earned and the services have been rendered to the customers. During the three months ended September 30, 2013, the Company recorded $121,627 in revenue related to financial services consulting and commissions that were assigned by an officer, director and shareholder of the Company. The assignment was necessary since the officer, director and shareholder holds the proper licenses in order to conduct business. | |
Advertising Costs | |
Advertising costs are anticipated to be expensed as incurred; however there were no advertising costs included in general and administrative expenses from Inception (July 10, 2012) to September 30, 2013. | |
Fair value of financial instruments | |
Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2013. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. | |
Level 1: The preferred inputs to valuation efforts are “quoted prices in active markets for identical assets or liabilities,” with the caveat that the reporting entity must have access to that market. Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actually trade in active markets. | |
Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. | |
Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as “unobservable,” and limits their use by saying they “shall be used to measure fair value to the extent that observable inputs are not available.” This category allows “for situations in which there is little, if any, market activity for the asset or liability at the measurement date”. Earlier in the standard, FASB explains that “observable inputs” are gathered from sources other than the reporting company and that they are expected to reflect assumptions made by market participants. | |
Stock-based compensation | |
The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | |
The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. | |
Earnings per share | |
The Company follows ASC Topic 260 to account for the earnings per share. Basic earning per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. As of September 30, 2013, there were no dilutive common shares outstanding. | |
Use of estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates. | |
Concentration of revenue | |
During the three months ended September 30, 2013, there was $121,627 in revenue generated from one customer. | |
Recent pronouncements | |
The Company has evaluated the recent accounting pronouncements through November 2013 and believes that none of them will have a material effect on the company’s financial statements. | |
GOING_CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2013 | |
Notes to Financial Statements | ' |
GOING CONCERN | ' |
NOTE 2 – GOING CONCERN | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. As noted above, the Company is in the development stage and, accordingly, has not yet generated revenues from operations. Since its inception, the Company has been engaged substantially in financing activities and developing its business plan and incurring start up costs and expenses. As a result, the Company incurred accumulated net losses from Inception (July 10, 2012) through the period ended September 30, 2013 of ($107,147). In addition, the Company’s development activities since inception have been financially sustained through debt and equity financing. | |
The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. | |
LINE_OF_CREDIT_RECEIVABLE_RELA
LINE OF CREDIT RECEIVABLE b RELATED PARTY | 9 Months Ended |
Sep. 30, 2013 | |
Notes to Financial Statements | ' |
LINE OF CREDIT RECEIVABLE b RELATED PARTY | ' |
NOTE 3 – LINE OF CREDIT RECEIVABLE – RELATED PARTY | |
On September 13, 2013, the Company executed a revolving credit line receivable with an entity owned and controlled by an officer, director and shareholder for up to $500,000. The unsecured line of credit bears interest at 2% per annum with principal and interest due on September 13, 2015. As of September 30, 2013, an amount of $370,000 was loaned to the related party with a remaining balance of $130,000 available. As of September 30, 2013, the balance of accrued interest was $264. | |
Interest expense for line of credit receivable – related party for the three months ended September 30, 2013 was $264. Interest expense for line of credit receivable – related party for the nine months ended September 30, 2013 was $264. | |
LINE_OF_CREDIT_PAYABLE
LINE OF CREDIT PAYABLE | 9 Months Ended |
Sep. 30, 2013 | |
Notes to Financial Statements | ' |
LINE OF CREDIT PAYABLE | ' |
NOTE 4 – LINE OF CREDIT PAYABLE | |
On July 15, 2012, the Company executed a revolving credit line with third party for up to $200,000. The unsecured line of credit bears interest at 6% per annum with principal and interest due on July 16, 2015. As of September 30, 2013, an amount of $0 has been used for general corporate purposes with a remaining balance of $200,000 available. During the three months ended September 30, 2013, the Company repaid the entire balance of principal of $92,200 and accrued interest of $3,463. This line of credit is no longer available to the Company as of September 30, 2013. As of September 30, 2013, the balance of accrued interest was $0. | |
Interest expense for line of credit payable for the three months ended September 30, 2013 was $652. Interest expense for line of credit payable for the nine months ended September 30, 2013 was $2,963. | |
LINE_OF_CREDIT_PAYABLE_RELATED
LINE OF CREDIT PAYABLE b RELATED PARTY | 9 Months Ended |
Sep. 30, 2013 | |
Notes to Financial Statements | ' |
LINE OF CREDIT PAYABLE b RELATED PARTY | ' |
NOTE 5 – LINE OF CREDIT PAYABLE – RELATED PARTY | |
On August 8, 2013, the Company executed a revolving credit line with an entity owned and controlled by an officer, director and shareholder for up to $500,000. The unsecured line of credit bears interest at 2% per annum with principal and interest due on August 8, 2015. As of September 30, 2013, an amount of $154,443 has been used for general corporate purposes with a remaining balance of $345,557 available. As of September 30, 2013, the balance of accrued interest was $358. | |
Interest expense for the line of credit payable for the three months ended September 30, 2013 was $358. Interest expense for the line of credit payable for the nine months ended September 30, 2013 was $358. | |
NOTES_PAYABLE_RELATED_PARTY
NOTES PAYABLE b RELATED PARTY | 9 Months Ended |
Sep. 30, 2013 | |
Notes to Financial Statements | ' |
NOTES PAYABLE b RELATED PARTY | ' |
NOTE 6 – NOTES PAYABLE – RELATED PARTY | |
On July 12, 2012, the Company executed a promissory note with a related party for $10,000. The unsecured loan bears interest at 6% per annum with principal and interest due on July 13, 2015. During the three months ended September 30, 2013, related party loaned an additional $3,500 to the Company with the same terms as the previous promissory note for $10,000. During the three months ended September 30, 2013, the related party forgave the entire balance of principal of $13,500 and accrued interest of $702. As of September 30, 2013, the balance of accrued interest was $0. | |
Interest expense – related party for notes payable – related party for the three months ended September 30, 2013 was $121. Interest expense – related party for notes payable – related party for the nine months ended June 30, 2013 was $419. | |
STOCKHOLDERS_EQUITY_DEFICIT
STOCKHOLDERSb EQUITY (DEFICIT) | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
STOCKHOLDERSb EQUITY (DEFICIT) | ' |
NOTE 7 – STOCKHOLDERS’ EQUITY (DEFICIT) | |
The Company is authorized to issue 2,000,000,000 shares of its $0.001 par value common stock and 10,000,000 shares of its $0.001 par value preferred stock. | |
On September 6, 2013, the Company effected a 20-for-1 forward stock split of its $0.001 par value common stock and increased its authorized common stock to 2,000,000,000 shares. | |
All shares and per share amounts have been retroactively restated to reflect the split discussed above. | |
Common stock | |
On February 25, 2013, the Company issued a total of 10,000,000 shares of common stock for cash totaling $50,000. | |
On April 16, 2013, the Company issued 1,000,000 shares of common stock to a former officer of the Company for services to be rendered valued at $5,000. On June 6, 2013, the Company cancelled 1,000,000 shares of common stock due to non-performance of services and the individual was terminated. | |
During September 2013, the Company issued 1,470,000 shares of common stock for cash of $294,000. | |
WARRANTS_AND_OPTIONS
WARRANTS AND OPTIONS | 9 Months Ended |
Sep. 30, 2013 | |
Notes to Financial Statements | ' |
WARRANTS AND OPTIONS | ' |
NOTE 8 – WARRANTS AND OPTIONS | |
As of September 30, 2013, there were no warrants or options outstanding to acquire any additional shares of common stock. | |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 9 – SUBSEQUENT EVENTS | |
During October 2013, the Company issued 2,255,000 shares of common stock for cash of $1,804,000. | |
During October 2013, the Company loaned a related party an additional $549,872 as part of the line of credit receivable – related party. The Company amended the revolving credit line receivable to increase the credit limit to $2,000,000 and rest of the terms remains the same. | |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of presentation | ' |
Basis of presentation | |
The interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. | |
These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim financial statements be read in conjunction with the financial statements of the Company for the year ended December 31, 2012 and notes thereto included in the Company’s 10-K annual report. The Company follows the same accounting policies in the preparation of interim reports. | |
Results of operations for the interim period are not indicative of annual results. | |
Organization | ' |
Organization | |
The Company was incorporated on July 10, 2012 (Date of Inception) under the laws of the State of Nevada, as Creative App Solutions, Inc. On August 23, 2013, the Company amended its articles of incorporation and changed their name to Capstone Financial Group, Inc. | |
The Company has not commenced significant operations and, in accordance with ASC Topic 915, the Company is considered a development stage company. | |
Nature of operations | ' |
Nature of operations | |
The Company will design and sell mobile application for the Apple and Android platforms. During the three months ended September 30, 2013 the Company changed its business plan and plans to offer financial services and consulting to businesses and they rely heavily on an officer, director and shareholder who hold the proper licenses in order to conduct business. | |
Cash and cash equivalents | ' |
Cash and cash equivalents | |
For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. | |
Revenue recognition | ' |
Revenue recognition | |
We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable. | |
The Company will record revenue when it is realizable and earned and the services have been rendered to the customers. During the three months ended September 30, 2013, the Company recorded $121,627 in revenue related to financial services consulting and commissions that were assigned by an officer, director and shareholder of the Company. The assignment was necessary since the officer, director and shareholder holds the proper licenses in order to conduct business. | |
Advertising Costs | ' |
Advertising Costs | |
Advertising costs are anticipated to be expensed as incurred; however there were no advertising costs included in general and administrative expenses from Inception (July 10, 2012) to September 30, 2013. | |
Fair value of financial instruments | ' |
Fair value of financial instruments | |
Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2013. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. | |
Level 1: The preferred inputs to valuation efforts are “quoted prices in active markets for identical assets or liabilities,” with the caveat that the reporting entity must have access to that market. Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actually trade in active markets. | |
Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. | |
Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as “unobservable,” and limits their use by saying they “shall be used to measure fair value to the extent that observable inputs are not available.” This category allows “for situations in which there is little, if any, market activity for the asset or liability at the measurement date”. Earlier in the standard, FASB explains that “observable inputs” are gathered from sources other than the reporting company and that they are expected to reflect assumptions made by market participants. | |
Stock-based compensation | ' |
Stock-based compensation | |
The Company records stock based compensation in accordance with the guidance in ASC Topic 505 and 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. | |
The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 718-10 and the conclusions reached by the FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. | |
Earnings per share | ' |
Earnings per share | |
The Company follows ASC Topic 260 to account for the earnings per share. Basic earning per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. As of September 30, 2013, there were no dilutive common shares outstanding. | |
Use of estimates | ' |
Use of estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates. | |
Concentration of revenue | ' |
Concentration of revenue | |
During the three months ended September 30, 2013, there was $121,627 in revenue generated from one customer. | |
Recent pronouncements | ' |
Recent pronouncements | |
The Company has evaluated the recent accounting pronouncements through November 2013 and believes that none of them will have a material effect on the company’s financial statements. |
GOING_CONCERN_Details_Narrativ
GOING CONCERN (Details Narrative) (USD $) | 15 Months Ended |
Sep. 30, 2013 | |
Notes to Financial Statements | ' |
Accumulated net losses | ($107,147) |
LINE_OF_CREDIT_RECEIVABLE_RELA1
LINE OF CREDIT RECEIVABLE b RELATED PARTY (Details Narrative) (USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Notes to Financial Statements | ' | ' |
Revolving credit line receivable | $500,000 | $500,000 |
Line of credit bears interest | '2% | '2% |
Loaned to the related party | 370,000 | 370,000 |
Remaining balance | 130,000 | 130,000 |
Accrued interest | 264 | 264 |
Interest expense for line of credit receivable | $264 | $264 |
LINE_OF_CREDIT_PAYABLE_Details
LINE OF CREDIT PAYABLE (Details Narrative) (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Jul. 15, 2012 | |
Notes to Financial Statements | ' | ' | ' |
Revolving credit line with third party | ' | ' | $200,000 |
Line of credit bears interest | ' | ' | '6% |
An amount | 0 | 0 | ' |
General corporate purposes | 200,000 | 200,000 | ' |
Repaid the entire balance of principal | 92,200 | ' | ' |
Accrued interest | 3,463 | ' | ' |
Accrued interest | 0 | 0 | ' |
Interest expense for line of credit payable | $652 | $2,963 | ' |
LINE_OF_CREDIT_PAYABLE_RELATED1
LINE OF CREDIT PAYABLE b RELATED PARTY (Details Narrative) (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Aug. 08, 2013 | |
Notes to Financial Statements | ' | ' | ' |
Director and shareholder | ' | ' | $500,000 |
Line of credit bears interest | ' | ' | '2% |
An amount | 154,443 | 154,443 | ' |
General corporate purposes | 345,557 | 345,557 | ' |
Accrued interest | 358 | 358 | ' |
Interest expense for the line of credit payable | $358 | $358 | ' |
NOTES_PAYABLE_RELATED_PARTY_De
NOTES PAYABLE b RELATED PARTY (Details Narrative) (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Jun. 30, 2013 | Jul. 12, 2012 | |
Notes to Financial Statements | ' | ' | ' |
Executed a promissory note with a related party | ' | ' | $10,000 |
Loan bears interest | ' | ' | '6% |
Related party loaned an additional | 3,500 | ' | ' |
Previous promissory note | 10,000 | ' | ' |
Related party forgave the entire balance of principal | 13,500 | ' | ' |
Related party accrued interest | 702 | ' | ' |
Accrued interest | 0 | ' | ' |
Interest expense b related party for notes payable | $121 | $419 | ' |
STOCKHOLDERS_EQUITY_DEFICIT_De
STOCKHOLDERSb EQUITY (DEFICIT) (Details Narrative) (USD $) | Sep. 30, 2013 | Sep. 06, 2013 | Jun. 06, 2013 | Apr. 16, 2013 | Feb. 25, 2013 |
Equity [Abstract] | ' | ' | ' | ' | ' |
Common stock authorized to issue shares | 2,000,000,000 | ' | ' | ' | ' |
Par value common stock | $0.00 | ' | ' | ' | ' |
Preferred stock shares | 10,000,000 | ' | ' | ' | ' |
Par value preferred stock | $0.00 | $0.00 | ' | ' | ' |
Increased its authorized common stock shares | ' | 2,000,000,000 | ' | ' | ' |
Company issued a total | ' | ' | ' | ' | 10,000,000 |
Common stock for cash totaling | ' | ' | ' | ' | $50,000 |
Issued shares of common stock | ' | ' | ' | 1,000,000 | ' |
Services to be rendered valued | ' | ' | ' | 5,000 | ' |
Shares of common stock | ' | ' | 1,000,000 | ' | ' |
Company issued shares | 1,470,000 | ' | ' | ' | ' |
Common stock for cash | $294,000 | ' | ' | ' | ' |
SUBSEQUENT_EVENTS_Details_Narr
SUBSEQUENT EVENTS (Details Narrative) (USD $) | Oct. 31, 2013 |
Subsequent Events [Abstract] | ' |
Company issued shares | 2,255,000 |
Common stock for cash | $1,804,000 |
Loaned a related party an additional | 549,872 |
Credit line receivable to increase the credit limit | $2,000,000 |