Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Sep. 30, 2014 | Nov. 06, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Perkins Oil & Gas, Inc. | ' |
Entity Central Index Key | '0001567802 | ' |
Trading Symbol | 'pogi | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 6,750,000 |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2015 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Balance_Sheets
Balance Sheets (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
Current Assets | ' | ' |
Cash | $4,787 | $11,484 |
Total Current Assets | 4,787 | 11,484 |
Other Assets | ' | ' |
Oil and Gas Property (Successful Efforts Method) | 17,500 | 17,500 |
Less: Accumulated Amortization | -17,500 | -17,500 |
Total Other Assets | ' | ' |
TOTAL ASSETS | 4,787 | 11,484 |
Current Liabilities | ' | ' |
Accounts payable | 10,342 | 5,728 |
Total Current Liabilities | 10,342 | 5,728 |
Long Term Liabilities | ' | ' |
Accrued interest payable | 806 | 599 |
Promissory notes payable | 23,000 | 23,000 |
Total Long Term Liabilities | 23,806 | 23,599 |
Total Liabilities | 34,148 | 29,327 |
Stockholders' Equity (Deficit) | ' | ' |
Common stock, ($0.001 par value, 75,000,000 shares authorized; 6,750,000 and 6,750,000 shares issued and outstanding as of September 30, 2014 and June 30, 2014 | 6,750 | 6,750 |
Additional paid-in capital | 40,751 | 40,751 |
Deficit accumulated during exploration stage | -76,862 | -65,344 |
Total Stockholders' Equity (Deficit) | -29,361 | -17,843 |
STOCKHOLDERS' EQUITY (DEFICIT) | $4,787 | $11,484 |
Balance_Sheets_Parentheticals
Balance Sheets (Parentheticals) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
Statement of Financial Position [Abstract] | ' | ' |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 6,750,000 | 6,750,000 |
Common stock, shares outstanding | 6,750,000 | 6,750,000 |
Statement_of_Operations_Unaudi
Statement of Operations (Unaudited) (USD $) | 3 Months Ended | 28 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | |
Revenues | ' | ' | ' |
Revenues | ' | $879 | $5,207 |
Total Revenues | ' | 879 | 5,207 |
General & Administrative Expenses | ' | ' | ' |
Administrative Expenses | 6,695 | 5,180 | 42,023 |
Amortization | ' | 3,169 | 17,500 |
Oil Well Operating and Maintenance Expenses | 4,615 | 214 | 28,865 |
Total General & Administrative Expenses | 11,310 | 8,563 | 88,388 |
Loss from Operation | -11,310 | -7,684 | -83,181 |
Other Income (Expense) | ' | ' | ' |
Interest Expense | -208 | -78 | -807 |
Interest Income | ' | ' | 1 |
Forgiveness for Debt | ' | ' | 7,125 |
Total Other Income (Expense) | -208 | -78 | 6,319 |
Net Income (Loss) | ($11,518) | ($7,762) | ($76,862) |
Basic earnings per share (in dollars per share) | $0 | $0 | ' |
Weighted average number of common shares outstanding (in shares) | 6,750,000 | 4,750,000 | ' |
Statement_of_Cash_Flows_Unaudi
Statement of Cash Flows (Unaudited) (USD $) | 3 Months Ended | 28 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net income (loss) | ($11,518) | ($7,762) | ($76,862) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' | ' |
Amortization | ' | 3,169 | 17,500 |
Changes in operating assets and liabilities: | ' | ' | ' |
Increase(Decrease) in accounts payable | 4,614 | -9,597 | 10,342 |
Increase(Decrease) in interest payable | 207 | ' | 806 |
Net cash provided by (used in) operating activities | -6,697 | -14,190 | -48,214 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Acquisition of Oil and Gas Property | ' | ' | -17,500 |
Net cash provided by (used in) investing activities | ' | ' | -17,500 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Increase in bank over draft | ' | 2 | ' |
Proceeds from issuance of common stock | ' | ' | 47,501 |
Proceeds form issuance of notes payable | ' | 9,500 | 23,000 |
Net cash provided by (used in) financing activities | ' | 9,502 | 70,501 |
Net increase (decrease) in cash | -6,697 | -4,688 | 4,787 |
Cash at beginning of period | 11,484 | 4,905 | ' |
Cash at end of period | 4,787 | 217 | 4,787 |
Cash paid during year for: | ' | ' | ' |
Interest | ' | ' | ' |
Income Taxes | ' | ' | ' |
CONDENSED_FINANCIAL_STATEMENTS
CONDENSED FINANCIAL STATEMENTS | 3 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
CONDENSED FINANCIAL STATEMENTS | ' |
NOTE 1 – CONDENSED FINANCIAL STATEMENTS | |
The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September, 2014, and for all periods presented herein, have been made. | |
Certain information and footnote disclosures normally included in the condensed financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's June 30, 2014 audited financial statements. The results of operations for the periods ended September 30, 2014 and the same period last year are not necessarily indicative of the operating results for the full years. |
GOING_CONCERN
GOING CONCERN | 3 Months Ended |
Sep. 30, 2014 | |
Going Concern [Abstract] | ' |
GOING CONCERN | ' |
NOTE 2 – GOING CONCERN | |
The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. | |
In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. | |
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |