Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2015 | Aug. 25, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | ORION FINANCIAL GROUP Inc | |
Entity Central Index Key | 1,560,449 | |
Document Type | 10-Q | |
Trading Symbol | ORFN | |
Document Period End Date | Mar. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 159,999,356 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,015 |
BALANCE SHEETS (Unaudited)
BALANCE SHEETS (Unaudited) - USD ($) | Mar. 31, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash and Cash Equivalents | $ 48 | $ 57 |
Total Current assets | 48 | 57 |
Total Assets | 48 | 57 |
Current liabilities | ||
Accrued Expenses | 15,000 | 15,000 |
Due to Related Party | 63,732 | 56,833 |
Total Current Liabilities | 78,732 | 71,833 |
Commitments and Contingencies - Note 6 | ||
ORION FINANCIAL GROUP, INC. Shareholders' Equity(Deficit) | ||
Preferred Stock, $0.001 par value; 5,000,000 shares authorized, 8 and 8, issued and outstanding at 3/31/2015, 12/1/2014 respectively | 0 | 0 |
Common Stock, $0.001 par value; 250,000,000 shares authorized, 99,257,913 and 99,116,715 issued and outstanding at 3/31/2015, 12/31/2014, respectively. | 99,258 | 99,117 |
Additional Paid in Capital | 132,830 | 132,830 |
Accumulated Deficit | (310,772) | (303,723) |
Total Equity (Deficit) | (78,684) | (71,776) |
Total Liabilities and Equity (Deficit) | $ 48 | $ 57 |
BALANCE SHEETS (Unaudited) (Par
BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred Stock, authorized | 5,000,000 | 5,000,000 |
Preferred Stock, issued | 8 | 8 |
Preferred Stock, outstanding | 8 | 8 |
Common Stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock authorized | 250,000,000 | 250,000,000 |
Common Stock issued | 99,257,913 | 99,116,715 |
Common Stock outstanding | 99,257,913 | 99,116,715 |
STATEMENT OF OPERATIONS (Unaudi
STATEMENT OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Statement Of Operations | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | 7,049 | 30,349 |
Net Income (Loss) from Operations | (7,049) | (30,349) |
Other Income (Expenses) | ||
Interest Expense | 0 | 0 |
Net Income (Loss) from Operations Before Income Taxes | (7,049) | (30,349) |
Tax Expense | 0 | 0 |
Net Income (Loss) | $ (7,049) | $ (30,349) |
Basic and Diluted Loss Per Share (in dollars per share) | $ (0.0001) | $ (0.0005) |
Weighted average number of shares outstanding (in shares) | 99,210,847 | 63,448,395 |
STATEMENT OF CASH FLOWS (Unaudi
STATEMENT OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (7,049) | $ (30,349) |
Stock Issued as Compensation | 141 | 0 |
Increase (decrease) in payables related party | 0 | 5,000 |
Net cash used in operating activities | (6,908) | (25,349) |
Cash flows from investing activities: | ||
None | 0 | 0 |
Net cash provided (used) by investing activities | 0 | 0 |
Cash flows from financing activities: | ||
Common stock issued | 0 | 28,000 |
Proceeds from related party loans | 6,899 | 18,000 |
Net cash provided (used) by financing activities | 6,899 | 46,000 |
Increase in cash and equivalents | (9) | 20,651 |
Cash and cash equivalents at beginning of period | 57 | 40 |
Cash and cash equivalents at end of period | 48 | 20,691 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
None | 0 | 0 |
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
None | $ 0 | $ 0 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | Note 1 - Organization And Nature of Business Orion Financial Group Inc. (the “Company”) was incorporated in the state of Wyoming on March 26, 2012 with an authorized capital of 100,000,000 shares, which was subsequently increased to 250,000,000 shares of common stock, par value of $0.001 per share. The Company’s principal operations are now located in Mishol Hadkalim 14, Ramat, Jerusalem 90900. The Company provides consulting to small public and private companies. The Company has selected December 31 as its fiscal year end. On May 26, 2017, the Board of Directors appointed Joshua Nadav, to serve as Chairman of the Board of Directors of the Company effective immediately. In addition, on May 26, 2017, the Company accepted the resignation of Kenneth Green as the Company’s President, CEO, Treasurer, Secretary and member of the Board of Directors effective the same date. Mr. Green’s resignations did not arise from any disagreement on any matter relating to the Company’s operations, policies, or practice, nor regarding the general direction of the Company. Additionally, on May 26, 2017, the Company accepted the resignation of Bob Bates as the Company’s CFO, effective the same date. Mr. Bate’s resignation did not arise from any disagreement on any matter relating to the Company’s operations, policies, or practice, nor regarding the general direction of the Company. Further, on May 3, 2017, Lincoln Ong the Company's CTO and Director resigned from the Company effective immediately and on May 4, 2017, Mark Corrao the Company's COO and resigned from the Company effective immediately. Neither of the aforementioned officers and directors resignations were from any disagreement on any matter relating to the Company’s operations, policies, or practice, nor regarding the general direction of the Company. Effective on May 26, 2017, the Company appointed Joshua Nadav to serve as President, CEO, CFO, Treasurer, Secretary and Chairman of the Board. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 2 - Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with generally accepted accounting principles in the United States. Use Of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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 instruments with a maturity of three months or less at the time of issuance to be cash equivalents. Earnings per Share The Company computes net earnings per share in accordance with ASC 260 “Earnings per Share”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. Income Taxes The Company accounts for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized. Recent Accounting Pronouncements The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant effect on its financial statements. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 3 – Going Concern The Company’s financial statements are prepared using generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not established any source of revenue to cover its operating costs. If the Company is unable to obtain revenue producing contracts or financing, or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. |
EQUITY
EQUITY | 3 Months Ended |
Mar. 31, 2015 | |
Equity [Abstract] | |
EQUITY | Note 4 – Equity The Company has 250,000,000 shares of Voting Common Stock authorized at $0.001 par value. As of March 31, 2015, there were 99,257,913 shares outstanding. The Company also has authorized on April 17, 2014 5,000,000 of Series A Voting Preferred Shares issued with a par value of $0.001. These shares collective carry allocated voting rights between the outstanding shares equivalent to 80 percent of the common shares outstanding. There were 8 Series A Voting Preferred Shares outstanding as of March 31, 2015. |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | Note 5– Income Taxes The Company follows Accounting Standards Codification 740, Accounting for Income Taxes. The Company did not have taxable income for the period from January 1, 2014 through March 31, 2015. The Company’s deferred tax assets consisted of the following as of December 31: 3/31/2015 12/31/2014 Net operating losses carried forward $ 310,772 $ 303,723 Valuation allowance (310,772 ) (303,723 ) Net deferred income tax asset $ 0 $ 0 The Company has net operating losses carried forward of $310,772 available to offset taxable income in future years which begins expiring in 2023. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 6– Commitments and Contingencies None. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2015 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 7– Related party transactions During the quarter ended March 31, 2014, fees of $12,600 for consulting services were paid to our CEO. As of March 31, 2014, $16,417 was due to related parties for services and expenses paid on behalf of the Company and another $21,750 was due to a shareholder for demand loans of which $18,000 was borrowed in the three months ended March 31, 2014. Shareholder loans to the company were $19,933 in the three months ended March 2015advances for cash flow purposes. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 8 – Subsequent Events On June 1, 2017, there was a change of control of the Company through a private share transaction. Details are provided on Form 8-K. |
SUMMARY OF SIGNIFICANT ACCOUN14
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | Basis of Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with generally accepted accounting principles in the United States. |
USE OF ESTIMATES | Use Of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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 instruments with a maturity of three months or less at the time of issuance to be cash equivalents. |
EARNINGS PER SHARE | Earnings per Share The Company computes net earnings per share in accordance with ASC 260 “Earnings per Share”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. |
INCOME TAXES | Income Taxes The Company accounts for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized. |
RECENT ACCOUNTING PRONOUNCEMENTS | Recent Accounting Pronouncements The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant effect on its financial statements. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of deferred tax assets | The Company’s deferred tax assets consisted of the following as of December 31: 3/31/2015 12/31/2014 Net operating losses carried forward $ 310,772 $ 303,723 Valuation allowance (310,772 ) (303,723 ) Net deferred income tax asset $ 0 $ 0 |
ORGANIZATION AND NATURE OF BU16
ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - $ / shares | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 26, 2012 |
Accounting Policies [Abstract] | |||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock shares authorized | 250,000,000 | 250,000,000 | 100,000,000 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - $ / shares | Mar. 31, 2015 | Dec. 31, 2014 | Apr. 17, 2014 | Mar. 26, 2012 |
Common stock shares authorized | 250,000,000 | 250,000,000 | 100,000,000 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |
Common stock shares outstanding | 99,257,913 | 99,116,715 | ||
Preferred stock shares authorized | 5,000,000 | 5,000,000 | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | ||
Preferred stock, shares outstanding | 8 | 8 | ||
Series A Preferred Stock [Member] | ||||
Preferred stock shares authorized | 5,000,000 | |||
Preferred stock, par value (in dollars per share) | $ 0.001 | |||
Preferred stock, shares outstanding | 8 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | Mar. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Net operating losses carried forward | $ 310,772 | $ 303,723 |
Valuation allowance | (310,772) | (303,723) |
Net deferred income tax asset | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Net operating losses carried forward | $ 310,772 | $ 303,723 |
Net operating loss carryforwards, expiration period | 2,023 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Due to related parties for services and expenses | $ 16,417 | |
Due to shareholder for demand loans | 21,750 | |
Amount of borrowed from demand loans | 18,000 | |
Advances for cash flow purposes | $ 19,933 | |
Mr. Joshua Nadav [Member] | ||
Fees for consulting service | $ 12,600 |