Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Mar. 31, 2015 | 7-May-15 | |
Document And Entity Information | ||
Entity Registrant Name | EPICURE CHARCOAL, INC. | |
Entity Central Index Key | 1564273 | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -21 | |
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 | 100,201,547 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2015 |
Balance_Sheets
Balance Sheets (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
CURRENT ASSETS | ||
Cash | $23 | $2,342 |
TOTAL ASSETS | 23 | 2,342 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 13,690 | 1,841 |
Loans from Related Party | 22,116 | 22,116 |
TOTAL CURRENT LIABILITIES | 35,806 | 23,957 |
STOCKHOLDERS' DEFICIT | ||
Capital stock Authorized 200,000,000 shares of common stock, $0.001 par value Issued and outstanding 100,201,647 shares of common stock | 100,202 | 100,202 |
Additional Paid-in Capital | -89,330 | -89,330 |
Deficit accumulated during the development stage | -46,655 | -32,487 |
TOTAL STOCKHOLDERS' DEFICIT | -35,783 | -21,615 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $23 | $2,342 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
STOCKHOLDERS' DEFICIT | ||
Common stock Authorized shares | 200,000,000 | 200,000,000 |
Common stock Par Value | $0.00 | $0.00 |
Common stock issued | 100,201,647 | 100,201,647 |
Common stock outstanding | 100,201,647 | 100,201,647 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
EXPENSES | ||||
Office and general | $1,499 | $839 | $3,533 | $3,043 |
Professional Fees | 3,000 | 1,800 | 10,635 | 10,221 |
Total Expenses | 4,499 | 2,639 | 14,168 | 13,264 |
Operating Loss | -4,499 | -2,639 | -14,168 | -13,264 |
NET LOSS | ($4,499) | ($2,639) | ($14,168) | ($13,264) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 100,201,647 | 622,177,647 | 100,201,647 | 1,017,961,647 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
OPERATING ACTIVITIES | ||
Net loss | ($14,168) | ($13,264) |
Adjustment to reconcile net loss to net cash | ||
Increase (decrease) in payables | 11,850 | 1,800 |
Loan Payable - Related Party | 2,569 | |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | -2,318 | -8,895 |
FINANCING ACTIVITIES | ||
Proceeds from sale of common stock | 5,872 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 5,872 | |
NET INCREASE (DECREASE) IN CASH | -2,318 | -3,023 |
CASH, BEGINNING OF PERIOD | 2,342 | 7,215 |
CASH, END OF PERIOD | 23 | 4,193 |
Supplemental cash flow information and noncash financing activities: | ||
Cash paid for: Interest | ||
Cash paid for: Income taxes |
Nature_of_Operations_and_Basis
Nature of Operations and Basis Of Presentation | 6 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Note 1 - Nature of Operations and Basis Of Presentation | The Company was incorporated in the State of Nevada as a for-profit Company on June 21, 2012 and established a fiscal year end of September 30. We are a Company which intends to sell charcoal made from hard wood for BBQs and restaurants. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 6 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Note 2 - Summary of Significant Accounting Policies | Basis of Presentation |
The financial statements present the balance sheet, statements of operations, stockholders' equity (deficit) and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. | |
Advertising | |
Advertising costs will be expensed as incurred. As of March 31, 2015, no advertising costs have been incurred. | |
Property | |
The Company does not own or rent any property. The office space is provided by the president at no charge. | |
Use of Estimates and Assumptions | |
Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. | |
Income Taxes | |
The Company follows the liability method of accounting for income taxes. 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 balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. | |
Net Loss per Share | |
Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. | |
Recent Accounting Pronouncements | |
The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement. |
Going_Concern
Going Concern | 6 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Note 3 - Going Concern | The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $35,783, an accumulated deficit of $46,655 and net loss from operations since inception of $46,655. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founder’s shares. |
These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence. | |
The officers and directors have committed to advancing certain operating costs of the Company, including Legal, Audit, Transfer Agency and Edgarizing costs. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Note 4 - Fair Value of Financial Instruments | The Company has determined the estimated fair value of financial instruments using available market information and appropriate valuation methodologies. The fair value of financial instruments classified as current assets or liabilities approximate their carrying value due to the short-term maturity of the instruments. |
Capital_Stock
Capital Stock | 6 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Note 5 - Capital Stock | The Company’s capitalization is 200,000,000 common shares with a par value of $0.001 per share. No preferred or common shares have been authorized or issued. |
As of March 31, 2015, the Company had 100,201,647 shares of common shares issued and outstanding. | |
On February 26, 2014, 1,304,940,000 founder's shares were retired for cash of $10. | |
As of March 31, 2015, the Company has not granted any stock options and has not recorded any stock-based compensation. |
Loan_Payable_Related_Party_Loa
Loan Payable - Related Party Loans | 6 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Note 6 - Loan Payable - Related Party Loans | The Company has received $22,116 as a loan from a related party. The loan is payable on demand and without interest. |
Income_Taxes
Income Taxes | 6 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Notes to Financial Statements | |||||||||
Note 7 - Income Taxes | We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Accounting for Uncertainty in Income Taxes when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. | ||||||||
The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of March 31, 2015 are as follows: | |||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Net operating loss carried forward | 46,655 | 32,487 | |||||||
Effective tax rate | 35 | % | 35 | % | |||||
Deferred tax assets | 16,329 | 11,370 | |||||||
Less: Valuation Allowance | (16,329 | ) | (11,370 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 | |||||
The net federal operating loss carry forward will expire between 2027 and 2028. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Mar. 31, 2015 | |
Summary Of Significant Accounting Policies Policies | |
Basis of Presentation | The financial statements present the balance sheet, statements of operations, stockholders' equity (deficit) and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. |
Advertising | Advertising costs will be expensed as incurred. As of March 31, 2015, no advertising costs have been incurred. |
Property | The Company does not own or rent any property. The office space is provided by the president at no charge. |
Use of Estimates and Assumptions | Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Income Taxes | The Company follows the liability method of accounting for income taxes. 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 balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. |
Net Loss per Share | Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. |
Recent Accounting Pronouncements | The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement. |
Income_Taxes_Tables
Income Taxes (Tables) | 6 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Income Taxes Tables | |||||||||
Deferred tax asset and reconciliation of income taxes | The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of March 31, 2015 are as follows: | ||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Net operating loss carried forward | 46,655 | 32,487 | |||||||
Effective tax rate | 35 | % | 35 | % | |||||
Deferred tax assets | 16,329 | 11,370 | |||||||
Less: Valuation Allowance | (16,329 | ) | (11,370 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 |
Going_Concern_Details_Narrativ
Going Concern (Details Narrative) (USD $) | 3 Months Ended | 6 Months Ended | 33 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | |
Going Concern Details Narrative | |||||
Working capital deficit | $35,783 | $35,783 | $35,783 | ||
Accumulated deficit | 46,655 | 46,655 | 46,655 | ||
Net loss from operations | $4,499 | $2,639 | $14,168 | $13,264 | $46,655 |
Capital_Stock_Details_Narrativ
Capital Stock (Details Narrative) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
Capital Stock Details Narrative | ||
Common stock Authorized shares | 200,000,000 | 200,000,000 |
Common stock Par Value | $0.00 | $0.00 |
Common stock issued | 100,201,647 | 100,201,647 |
Common stock outstanding | 100,201,647 | 100,201,647 |
Loan_Payable_Related_Party_Loa1
Loan Payable - Related Party Loans (Details Narrative) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
Loan Payable - Related Party Loans Details Narrative | ||
Loans from Related Party | $22,116 | $22,116 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
Income Taxes Details | ||
Net operating loss carried forward | $46,655 | $32,487 |
Effective tax rate | 35.00% | 35.00% |
Deferred tax assets | 16,329 | 11,370 |
Less: Valuation allowance | -16,329 | -11,370 |
Net deferred tax asset | $0 | $0 |
Income_Taxes_Details_Narrative
Income Taxes (Details Narrative) | 6 Months Ended |
Mar. 31, 2015 | |
Income Taxes Details Narrative | |
Federal operating loss carry forward expire | Between 2027 and 2028 |