Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 13, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Bio-En Holdings Corp. | ' |
Entity Central Index Key | '0001568139 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 9,394,609 |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
BALANCE_SHEETS
BALANCE SHEETS (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Current Assets: | ' | ' |
Cash and cash equivalents | ' | $32,584 |
Trade and other receivables | ' | 589 |
TOTAL ASSETS | ' | 33,173 |
Current liabilities: | ' | ' |
Accounts payable and accrued liabilities | 4,154 | 13,058 |
Loans from related parties | 6,194 | 593 |
Total Liabilities | 10,348 | 13,651 |
Stockholders' Deficit | ' | ' |
Common stock, $0.0001 par value; 200,000,000 shares authorized; 9,394,609 shares issued and outstanding at June 30, 2014 and December 31, 2013 | 939 | 939 |
Additional paid-in capital | 47,856 | 57,061 |
Deficit accumulated during development stage | -59,143 | -38,478 |
Total Stockholders' Deficit | -10,348 | 19,522 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | $33,173 |
BALANCE_SHEETS_Parenthetical
BALANCE SHEETS (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Stockholders' equity: | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, authorized shares | 200,000,000 | 200,000,000 |
Common stock, issued shares | 9,394,609 | 9,394,609 |
Common stock, outstanding shares | 9,394,609 | 9,394,609 |
STATEMENT_OF_OPERATIONS
STATEMENT OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | 35 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
STATEMENT OF OPERATIONS [Abstract] | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' |
General and administrative:- | ' | ' | ' | ' | ' |
Consulting fees | ' | 421 | ' | 421 | 421 |
Filing fees | 494 | 1,115 | 3,312 | 1,580 | 6,516 |
Franchise tax | ' | ' | ' | ' | 568 |
Other costs | ' | 121 | 298 | 146 | 703 |
Professional fees | 9,200 | 1,500 | 17,055 | 11,000 | 50,935 |
Total operating expenses | -9,694 | -3,157 | -20,665 | -13,147 | -59,143 |
Net loss | ($9,694) | ($3,157) | ($20,665) | ($13,147) | ($59,143) |
Loss per share - basic and diluted: | ' | ' | ' | ' | ' |
Loss per share attributable to common stockholders | ' | ' | ' | ' | ' |
Weighted average number of common shares outstanding | 9,394,609 | 7,915,012 | 9,394,609 | 7,904,875 | ' |
STATEMENT_OF_STOCKHOLDERS_DEFI
STATEMENT OF STOCKHOLDERS' DEFICIT (USD $) | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Accumulated Deficit During Development Stage [Member] | Stock Subscription Receivable [Member] |
Balance at Aug. 01, 2011 | ' | ' | ' | ' | ' |
Balance, shares at Aug. 01, 2011 | ' | ' | ' | ' | ' |
Loss for the period | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2011 | ' | ' | ' | ' | ' |
Common stock issued for subscription at $0.00253 per share | ' | 789 | 19,211 | ' | -20,000 |
Common stock issued for subscription at $0.00253 per share, shares | ' | 7,894,625 | ' | ' | ' |
Loss for the period | -568 | ' | ' | -568 | ' |
Balance at Dec. 31, 2012 | -568 | 789 | 19,211 | -568 | -20,000 |
Balance, shares at Dec. 31, 2012 | ' | 7,894,625 | ' | ' | ' |
Repayment of stock subscription receivable | 20,000 | ' | ' | ' | 20,000 |
Common stock issued at $0.0253 each for cash | 38,000 | 150 | 37,850 | ' | ' |
Common stock issued at $0.0253 each for cash, shares | ' | 1,499,979 | ' | ' | ' |
Loss for the period | -37,910 | ' | ' | -37,910 | ' |
Balance at Dec. 31, 2013 | 19,522 | 939 | 57,061 | -38,478 | ' |
Balance, shares at Dec. 31, 2013 | ' | 9,394,604 | ' | ' | ' |
Return of capital | -9,205 | ' | -9,205 | ' | ' |
Loss for the period | -20,665 | ' | ' | -20,665 | ' |
Balance at Jun. 30, 2014 | ($10,348) | $939 | $47,856 | ($59,143) | ' |
Balance, shares at Jun. 30, 2014 | ' | 9,394,604 | ' | ' | ' |
STATEMENT_OF_STOCKHOLDERS_EQUI
STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $) | 0 Months Ended | |
Sep. 02, 2013 | Aug. 15, 2012 | |
STATEMENT OF STOCKHOLDERS' DEFICIT [Abstract] | ' | ' |
Stock issued, price per share | $0.03 | $0.00 |
STATEMENT_OF_CASH_FLOWS
STATEMENT OF CASH FLOWS (USD $) | 6 Months Ended | 35 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Cash Flows from Operating Activities | ' | ' | ' |
Net loss | ($20,665) | ($13,147) | ($59,143) |
Changes in operating assets and liabilities | ' | ' | ' |
Trade and other receivables | 589 | ' | ' |
Accounts payable and accrued expenses | -8,904 | ' | 4,154 |
Net cash used in operating activities | -28,980 | -13,147 | -54,989 |
Cash Flows from Investing Activities | ' | ' | ' |
Cash Flows from Financing Activities | ' | ' | ' |
Proceeds from issuance of common stock | ' | 20,000 | 58,000 |
Proceeds from related party loan | 5,601 | ' | 6,194 |
Return of capital | -9,205 | ' | -9,205 |
Net cash (used)/provided by financing activities | -3,604 | 20,000 | 54,989 |
(Decrease)/Increase in cash and cash equivalents | -32,584 | 6,853 | ' |
Cash and cash equivalents at beginning of the period | 32,584 | 25 | ' |
Cash and cash equivalents at end of the period | ' | $6,878 | ' |
NATURE_OF_BUSINESS_AND_BASIS_O
NATURE OF BUSINESS AND BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2014 | |
NATURE OF BUSINESS AND BASIS OF PRESENTATION [Abstract] | ' |
NATURE OF BUSINESS AND BASIS OF PRESENTATION | ' |
NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION | |
Bio-En Holdings Corp (formerly Olivia, Inc) is a Delaware company (the “Company”), incorporated under the laws of the State of Delaware on August 2, 2011. The Company is in the development stage as defined by Accounting Standards Codification 915 (ASC 915), “Accounting and reporting by Development Stage Enterprises”, the Company is devoting substantially all of its efforts to development of business plans. Bio- En Holdings Corp intends to develop its business plans; for the conversion of Waste to Biofuel Technologies, by operating a Biomass to Energy (BTE) Facility on the Island of Malta. | |
Effective March 27, 2014, the Company filed with the State of Delaware a Certificate of Amendment to the Articles of Incorporation changing the Company's name from Olivia, Inc. to Bio-En Holdings Corp. | |
Basis of Presentation | |
The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). | |
These financial statements are presented in US dollars. | |
Fiscal Year End | |
The Corporation has adopted a fiscal year end of December 31. | |
Unaudited Interim Financial Statements | |
The interim financial statements of the Company as of June 30, 2014, and for the periods then ended, and cumulative from inception, are unaudited. However, in the opinion of management, the interim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary to present fairly the Company's financial position as of June 30, 2014, and the results of its operations and its cash flows for the periods ended June 30, 2014, and cumulative from inception. These results are not necessarily indicative of the results expected for the calendar year ending December 31, 2014. The accompanying financial statements and notes thereto do not reflect all disclosures required under accounting principles generally accepted in the United States. Refer to the Company's audited financial statements as of December 31, 2013, filed with the SEC, for additional information, including significant accounting policies. | |
Going concern | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As at June 30, 2014, the Company has a working capital deficit, a net loss of $20,665 and an accumulated deficit since inception of $59,143 and has not earned revenues to cover its operating costs. The Company intends to fund future operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2014. | |
The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings. | |
These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 or revenues and expenses during the reporting period. Actual results could differ from those estimates. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2014 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
The principal accounting policies are set out below, these policies have been consistently applied to the period presented, unless otherwise stated: | |
Cash and cash equivalents | |
Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. As of June 30, 2014 the Company does not operate a bank account. | |
Property, plant and equipment | |
The Company does not own any property, plant and equipment. | |
Accounts payable and accrued liabilities | |
Accounts payable and accrued liabilities are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. | |
Earnings per share | |
The Company computes net loss 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 calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As at June 30, 2014, the Company had no potentially dilutive shares. | |
Income taxes | |
Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.” Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences). Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled. Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. | |
Recent accounting pronouncements | |
Company management do not believe that the adoption of recently issued accounting pronouncements will have a significant impact on the Company's financial position, results of operations, or cash flows. | |
LOAN_FROM_RELATED_PARTY
LOAN FROM RELATED PARTY | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
LOAN FROM RELATED PARTY [Abstract] | ' | ||||||||
LOAN FROM RELATED PARTY | ' | ||||||||
NOTE 3 – LOAN FROM RELATED PARTY | |||||||||
June 30 | December 31 | ||||||||
2014 | 2013 | ||||||||
$ | $ | ||||||||
Loan from related party | 6,194 | 593 | |||||||
The above loan is unsecured, bears no interest and has no set terms of repayment. This loan is repayable on demand. |
STOCKHOLDERS_DEFICIT
STOCKHOLDER'S DEFICIT | 6 Months Ended |
Jun. 30, 2014 | |
STOCKHOLDERS' DEFICIT [Abstract] | ' |
STOCKHOLDERS' DEFICIT | ' |
NOTE 4 – STOCKHOLDER'S DEFICIT | |
Common Stock | |
On August 15, 2012, the Company issued 7,894,625 shares of common stock to the two directors and officers of the Company at a price of $0.00253 per share, for $20,000, for initial capital (stock subscription receivable). The proceeds from this stock subscription was received on January 11, 2013. | |
On September 2, 2013, the Company issued 1,499,979 shares of common stock to various shareholders at a price of $0.0253 per share, for $38,000. The proceeds from the sale of shares, net of professional fees was deposited into the Company's bank account on September 25, 2013, net of professional fees. | |
On April 1, 2014, the Board authorized a 6.3157 new shares for 1 old share in a forward stock split. All share and per share data in the accompanying financial statements and footnotes has been adjusted retrospectively for the effects of the stock split. |
INCOME_TAXES
INCOME TAXES | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
INCOME TAXES [Abstract] | ' | |||||||||||
INCOME TAXES | ' | |||||||||||
NOTE 5 – INCOME TAXES | ||||||||||||
The provision (benefit) for income taxes for the period ended June 30, 2014 and 2013 was as follows (assuming a 15% effective tax rate): | ||||||||||||
June 30 | June 30 | |||||||||||
2014 | 2013 | |||||||||||
$ | $ | |||||||||||
Current Tax Provision | ||||||||||||
Federal- | ||||||||||||
Taxable income | ||||||||||||
Total current tax provision | - | - | ||||||||||
- | - | |||||||||||
Deferred Tax Provision | ||||||||||||
Federal- | ||||||||||||
Loss carry forwards | 3,100 | 1,972 | ||||||||||
Change in valuation allowance | -3,100 | -1,972 | ||||||||||
Total deferred tax provision | - | - | ||||||||||
The Company had deferred income tax assets as of June 30, 2014 and December 31, 2013 as follows: | ||||||||||||
June 30 | December 31 | |||||||||||
2014 | 2013 | |||||||||||
$ | $ | |||||||||||
Loss carry forwards | 8,872 | 5,772 | ||||||||||
Less - Valuation allowance | -8,872 | -5,772 | ||||||||||
- | - | |||||||||||
The Company provided a valuation allowance equal to the deferred income tax assets for period ended June 30, 2014 because it is not presently known whether future taxable income will be sufficient to utilize the loss carryforwards. | ||||||||||||
As of June 30, 2014, the Company had approximately $59,143 in tax loss carryforwards that can be utilized future periods to reduce taxable income, and expire by the year 2034. | ||||||||||||
The Company did not identify any material uncertain tax positions. The Company did not recognize any interest or penalties for unrecognized tax benefits. | ||||||||||||
The federal income tax returns of the Company are subject to examination by the IRS, generally for three years after they are filed. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
FAIR VALUE MEASUREMENTS [Abstract] | ' | ||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||||||
NOTE 6 - FAIR VALUE MEASUREMENTS | |||||||||||||||||||||
In September 2006, the FASB issued SFAS No. 157 “Fair Value Measurements”. The objective of SFAS 157 (ASC 820) is to increase consistency and comparability in fair value measurements and to expand disclosures about fair value measurements. SFAS 157 (ASC 820) defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. SFAS 157 (ASC 820) applies under other accounting pronouncements that require or permit fair value measurements and does not require any new fair value measurements. | |||||||||||||||||||||
The Company has various financial instruments that must be measured under the new fair value standard including: cash in bank. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. The Company's financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows: | |||||||||||||||||||||
- Level 1: | Quoted prices in active markets for identical instruments; | ||||||||||||||||||||
- Level 2: | Other significant observable inputs (including quoted prices in active markets for similar instruments); | ||||||||||||||||||||
- Level 3: | Significant unobservable inputs (including assumptions in determining the fair value of certain investments). | ||||||||||||||||||||
Financial assets and liabilities carried at fair value and measured on a recurring basis are classified in the hierarchy as follows: | |||||||||||||||||||||
Fair Value at June 30, 2014 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||
Cash and cash equivalents | - | - | - | - | |||||||||||||||||
Total financial assets carried at fair value | - | - | - | - | |||||||||||||||||
Fair Value at December 31, 2013 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||
Cash and cash equivalents | 32,584 | - | - | 32,584 | |||||||||||||||||
Total financial assets carried at fair value | 32,584 | - | - | 32,584 | |||||||||||||||||
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
RELATED PARTY TRANSACTIONS [Abstract] | ' | ||||||||
RELATED PARTY TRANSACTIONS | ' | ||||||||
NOTE 7 – RELATED PARTY TRANSACTIONS | |||||||||
Details of transactions between the Company and related parties are disclosed below: | |||||||||
The following entities have been identified as related parties: | |||||||||
Ms. Serena Potash | - President/director greater than 10% stockholder | ||||||||
Mr. Bruce Minsky | - Company secretary | ||||||||
Mr. Peter Hurrell | - Vice president | ||||||||
Mr. Geoffrey McLaren | - Director | ||||||||
Mr. Joseph Micalle | - Director | ||||||||
30-Jun | 31-Dec | ||||||||
2014 | 2013 | ||||||||
$ | $ | ||||||||
The following transactions were carried out with related parties: | |||||||||
Balance sheets: | |||||||||
Loan from related party – Director | 6,194 | 593 | |||||||
From time to time, the director and stockholder of the Company provides advances to the Company for its working capital purposes. These advances bear no interest and are due on demand. | |||||||||
During the three months ended June 30, 2014, the previous director and stockholder of the Company withdrew the remaining cash and closed the Company's bank account. This transaction was recorded as a return of capital. The transaction was charged to additional paid in capital in the amount of $9,205. |
RECENT_ACCOUNTING_STANDARDS_UP
RECENT ACCOUNTING STANDARDS UPDATES | 6 Months Ended |
Jun. 30, 2014 | |
RECENT ACCOUNTING STANDARDS UPDATES [Abstract] | ' |
RECENT ACCOUNTING STANDARDS UPDATES | ' |
NOTE 8 – RECENT ACCOUNTING STANDARDS UPDATES | |
The company does not expect that the adoption of any recent accounting pronouncements will have a material impact to its financial statements. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2014 | |
SUBSEQUENT EVENTS [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 9 – SUBSEQUENT EVENTS | |
In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
Cash and cash equivalents | ' |
Cash and cash equivalents | |
Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. As of June 30, 2014 the Company does not operate a bank account. | |
Property, plant and equipment | ' |
Property, plant and equipment | |
The Company does not own any property, plant and equipment. | |
Accounts payable and accrued liabilities | ' |
Accounts payable and accrued liabilities | |
Accounts payable and accrued liabilities are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. | |
Earnings per share | ' |
Earnings per share | |
The Company computes net loss 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 calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As at June 30, 2014, the Company had no potentially dilutive shares. | |
Income taxes | ' |
Income taxes | |
Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.” Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences). Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled. Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. | |
Recent accounting pronouncements | ' |
Recent accounting pronouncements | |
Company management do not believe that the adoption of recently issued accounting pronouncements will have a significant impact on the Company's financial position, results of operations, or cash flows. |
LOAN_FROM_RELATED_PARTY_Tables
LOAN FROM RELATED PARTY (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
LOAN FROM RELATED PARTY [Abstract] | ' | ||||||||
Loans from related parties | ' | ||||||||
June 30 | December 31 | ||||||||
2014 | 2013 | ||||||||
$ | $ | ||||||||
Loan from related party | 6,194 | 593 |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
INCOME TAXES [Abstract] | ' | |||||||||||
Provision (benefit) for income taxes | ' | |||||||||||
The provision (benefit) for income taxes for the period ended June 30, 2014 and 2013 was as follows (assuming a 15% effective tax rate): | ||||||||||||
June 30 | June 30 | |||||||||||
2014 | 2013 | |||||||||||
$ | $ | |||||||||||
Current Tax Provision | ||||||||||||
Federal- | ||||||||||||
Taxable income | ||||||||||||
Total current tax provision | - | - | ||||||||||
- | - | |||||||||||
Deferred Tax Provision | ||||||||||||
Federal- | ||||||||||||
Loss carry forwards | 3,100 | 1,972 | ||||||||||
Change in valuation allowance | -3,100 | -1,972 | ||||||||||
Total deferred tax provision | - | - | ||||||||||
Deferred income tax assets | ' | |||||||||||
The Company had deferred income tax assets as of June 30, 2014 and December 31, 2013 as follows: | ||||||||||||
June 30 | December 31 | |||||||||||
2014 | 2013 | |||||||||||
$ | $ | |||||||||||
Loss carry forwards | 8,872 | 5,772 | ||||||||||
Less - Valuation allowance | -8,872 | -5,772 | ||||||||||
- | - | |||||||||||
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
FAIR VALUE MEASUREMENTS [Abstract] | ' | ||||||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
Financial assets and liabilities carried at fair value and measured on a recurring basis are classified in the hierarchy as follows: | |||||||||||||||||||||
Fair Value at June 30, 2014 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||
Cash and cash equivalents | - | - | - | - | |||||||||||||||||
Total financial assets carried at fair value | - | - | - | - | |||||||||||||||||
Fair Value at December 31, 2013 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||
Cash and cash equivalents | 32,584 | - | - | 32,584 | |||||||||||||||||
Total financial assets carried at fair value | 32,584 | - | - | 32,584 |
RELATED_PARTY_TRANSACTIONS_Tab
RELATED PARTY TRANSACTIONS (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
RELATED PARTY TRANSACTIONS [Abstract] | ' | ||||||||
Related parties transactions | ' | ||||||||
30-Jun | 31-Dec | ||||||||
2014 | 2013 | ||||||||
$ | $ | ||||||||
The following transactions were carried out with related parties: | |||||||||
Balance sheets: | |||||||||
Loan from related party – Director | 6,194 | 593 |
NATURE_OF_BUSINESS_AND_BASIS_O1
NATURE OF BUSINESS AND BASIS OF PRESENTATION (Details) (USD $) | 3 Months Ended | 5 Months Ended | 6 Months Ended | 12 Months Ended | 35 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | |
NATURE OF BUSINESS AND BASIS OF PRESENTATION [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Loss for the period | ($9,694) | ($3,157) | ' | ($20,665) | ($13,147) | ($37,910) | ($568) | ($59,143) |
Accumulated deficit | $59,143 | ' | ' | $59,143 | ' | $38,478 | ' | $59,143 |
LOAN_FROM_RELATED_PARTY_Detail
LOAN FROM RELATED PARTY (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
LOAN FROM RELATED PARTY [Abstract] | ' | ' |
Loans from related parties | $6,194 | $593 |
STOCKHOLDERS_DEFICIT_Details
STOCKHOLDER'S DEFICIT (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 35 Months Ended | |||
Sep. 02, 2013 | Jan. 11, 2013 | Aug. 15, 2012 | Apr. 02, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued | 1,499,979 | ' | 7,894,625 | ' | ' | ' | ' |
Stock issued, price per share | $0.03 | ' | $0.00 | ' | ' | ' | ' |
Proceeds from issuance of common stock | $38,000 | $20,000 | ' | ' | ' | $20,000 | $58,000 |
Forward stock split ratio | ' | ' | ' | 6.3157 | ' | ' | ' |
INCOME_TAXES_Schedule_of_Provi
INCOME TAXES (Schedule of Provision (Benefit) for Income Taxes) (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
INCOME TAXES [Abstract] | ' | ' |
Assumed effective tax rate | 15.00% | ' |
Federal- | ' | ' |
Taxable income | ' | ' |
Federal current tax provision | ' | ' |
Total current tax provision | ' | ' |
Federal- | ' | ' |
Loss carryforwards | 3,100 | 1,972 |
Change in valuation allowance | -3,100 | -1,972 |
Total deferred tax provision | ' | ' |
INCOME_TAXES_Schedule_of_Defer
INCOME TAXES (Schedule of Deferred Income Tax Assets) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
INCOME TAXES [Abstract] | ' | ' |
Loss carryforwards | $8,872 | $5,772 |
Less - Valuation allowance | -8,872 | -5,772 |
Total net deferred tax assets | ' | ' |
INCOME_TAXES_Narrative_Details
INCOME TAXES (Narrative) (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
INCOME TAXES [Abstract] | ' |
Tax loss caryforwards | $59,143 |
Tax loss carryforwards, expiration date | 31-Dec-34 |
FAIR_VALUE_MEASUREMENTS_Detail
FAIR VALUE MEASUREMENTS (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents | ' | $32,584 |
Total financial assets carried at fair value | ' | 32,584 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents | ' | 32,584 |
Total financial assets carried at fair value | ' | 32,584 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents | ' | ' |
Total financial assets carried at fair value | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and cash equivalents | ' | ' |
Total financial assets carried at fair value | ' | ' |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | 3 Months Ended | 6 Months Ended | 35 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | |
Balance sheet: | ' | ' | ' | ' | ' |
Loan from related party - Director | $6,194 | $6,194 | ' | $6,194 | $593 |
Repayments of Capital | $9,205 | $9,205 | ' | $9,205 | ' |