Oncolix 10-Q/A 8 Dec 15 2015 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information:
Entity Registrant Name	Advanced Environmental Petroleum Producers Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Trading Symbol	aepp
Amendment Flag	true
Entity Central Index Key	1,584,137
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		31,633
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Description	Add the interactive data

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Assets, Current
Cash and Cash Equivalents, at Carrying Value		$ 15,454
Prepaid Expense, Current		2,000
Total current assets		17,454
Assets, Noncurrent
Intangible assets, net	$ 3,502
Total Assets	3,502	17,454
Current Liabilities
Accounts payable	124,655	82,693
Accrued interest	46,231	31,080
Notes payable	199,800	199,800
Total current liabilities	370,686	313,573
Total liabilities	370,686	313,573
Stockholders' Deficit
Common stock: $0.0001 par value, 500,000,000 authorized; 31,635,598 and 31,635,598 shares issued and outstanding, respectively	3,163	3,163
Additional paid-in capital	183,237	183,237
Accumulated Deficit	(553,584)	(482,519)
Total Stockholders' deficit	(367,184)	(296,119)
Total Liabilities and Stockholders' Deficit	$ 3,502	$ 17,454

CONDENSED BALANCE SHEETS - Pare

CONDENSED BALANCE SHEETS - Parenthetical - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Stockholders' Deficit
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares Issued	31,635,598	31,635,598
Common Stock, Shares Outstanding	31,635,598	31,635,598

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statements of Operations
Revenues				$ 19,815
Operating Expenses
Research and Development Expense		$ 3,165	$ 2,969	17,526
Professional fees	$ 14,807	23,700	44,341	158,850
Selling, general and administrative expense		6,021	8,604	26,359
Total operating Expenses	14,807	32,886	55,914	202,735
Net loss from Operations	(14,807)	(32,886)	(55,914)	(182,920)
Other income (expense)
Interest expense	(5,106)	(5,107)	(15,151)	(15,152)
Net loss before income taxes	(19,913)	(37,993)	(71,065)	(198,072)
Net loss	$ (19,913)	$ (37,993)	$ (71,065)	$ (198,072)
Basic and diluted loss per share	$ 0	$ 0	$ 0	$ (0.01)
Weighted average number of shares outstanding	31,635,598	31,239,969	31,635,598	31,208,396

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (37,993)	$ (71,065)	$ (198,072)
Increase (decrease) in operating assets
Prepaid expense and Other Assets		2,000	94,350
Increase (decrease) in operating liabilities
Accounts payable		41,962	18,300
Accrued interest		15,151	15,152
Net Cash (used in) operating activities		(11,952)	(70,270)
Net Cash Provided by (Used in) Investing Activities
Payments for patents, Intangible Assets		(3,502)
Net Cash Provided by (Used in) Investing Activities		(3,502)
Net Cash Provided by (Used in) Financing Activities
Proceeds from equity issuance			72,000
Net Cash provided by financing activities			72,000
Net increase (decrease) in cash and cash equivalents		(15,454)	1,730
Cash at Beginning of Period		$ 15,454	77
Cash at End of Period	$ 1,807		$ 1,807

Note 1. Nature of Business

Note 1. Nature of Business	9 Months Ended
	Sep. 30, 2015
Notes
Note 1. Nature of Business	NOTE 1. NATURE OF BUSINESS ORGANIZATION Advanced Environmental Petroleum Producers Inc., f/k/a, Electric Vehicle Research Corporation (hereinafter “AEPP”) is a company incorporated in the State of Florida in June 2013. We were formed as a consultant to the electric vehicle research and technologies industry. The electric vehicle research and technologies industry is subject to constant change due to market trends, thereby making it extremely competitive. The electric vehicle research and technologies industry is complex, because several segments are regulated by both federal and state governments. AEPP’s approach assists general business operations with the growth and development, international expansion and marketing aspects of their business, allowing our potential customers to focus on the business aspects of operations. By using the services provided by AEPP, our clients are free to focus on compliance with regulations within their industry, and to complete their primary business goals.

Note 2. Going Concern

Note 2. Going Concern	9 Months Ended
	Sep. 30, 2015
Notes
Note 2. Going Concern	NOTE 2. GOING CONCERN The Company’s financial statements are prepared using accounting principles generally accepted 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 cost 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 to obtain such resources for the Company include, obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern

Note 3. Summary of Significant

Note 3. Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Notes
Note 3. Summary of Significant Accounting Policies	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES UNAUDITED INTERIM FINANICAL STATEMENTS The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles, for complete financial statements please refer to our 2014 Annual Report on Form 10-K, filed on March 26, 2015. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. USE OF ESTIMATES The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require 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 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 investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents totaled $0 at September 30, 2015 and $15,454 at December 31, 2014. CASH FLOWS REPORTING The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period. FINANCIAL INSTRUMENTS The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures · · · Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2015 and December 31, 2014. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. INTANGIBLE ASSETS The Company is in the process of applying for patent protection for its products and technologies. The Company has applied the provision of ASC topic 350 – Intangible – goodwill and other, in accounting for its intangible assets. Due to the early stages of the process the Company has not capitalized the full cost of the provisional patent application process. Therefore, Intangible assets are currently not being amortized. As of September 30, 2015 and December 31, 2014 Intangible assets totaled $3,502 and $0, respectively. REVENUE RECOGNITION The Company follows ASC 605, Revenue Recognition The Company derives revenue from consulting arrangements with clients. Revenue is generated by hourly fee structure or fixed contract costs, based on expected time to complete, additionally, costs incurred may be billed, as defined by the contractual arrangements. CONCENTRATION OF CREDIT RISK AND SIGNIFICANT CUSTOMERS As of September 30, 2015 the Company’s revenue was $-0-. As of September 30, 2014 the Company derived 100% of its revenue, $19,815, from one customer. RESEARCH AND DEVELOPMENT The Company expenses research and development costs when incurred. Research and development costs include engineering and testing of product and outputs. Indirect costs related to research and developments are allocated based on percentage usage to the research and development. The Company spent $2,969 in research and development costs for the period ending September 30, 2015 and $17,526 for the period of ending September 30, 2014. DEFERRED INCOME TAXES AND VALUATION ALLOWANCE The Company accounts for income taxes under ASC 740, Income Taxes NET INCOME (LOSS) PER COMMON SHARE Net income (loss) per share is calculated in accordance with ASC 260, “Earnings Per Share.” The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share. Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding at September 30, 2015 and December 31, 2014. As of September 30, 2015, the Company had no dilutive potential common shares. RECENT ACCOUNTING PRONOUNCEMENTS Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification We have reviewed the FASB issued Accounting Standard Update (“ASU 2014-10”) and have applied the standard as of the dates during the periods reported. We have reviewed the FASB issued Accounting Standard Update (“ASU 2014-09”). The Company believes that the new or modified principal will not have a material effect on these financial statements. We have reviewed the FASB issued Accounting Standards Update (“ASU”) accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

Note 4. Income Taxes

Note 4. Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes
Note 4. Income Taxes	NOTE 4. INCOME TAXES At September 30, 2015, the Company had a net operating loss carry–forward for Federal income tax purposes of $553,584 that may be offset against future taxable income through 2032 No tax benefit has been reported with respect to these net operating loss carry-forwards in the accompanying financial statements because the Company believes that the realization of the Company’s net deferred tax assets of approximately $188,218, calculated at an effective tax rate of 34%, was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are fully offset by the valuation allowance of $188,218. Deferred tax assets consist primarily of the tax effect of NOL carry-forwards. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realizability. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service for the period from inception ended December 31, 2013 through the year ended December 31, 2014. The Company recognizes interest and penalties related to income taxes in income tax expense. The Company had incurred no penalties and interest for the period from inception ended December 31, 2013 through the year ended December 31, 2014. The open tax years are 2013 and 2014.

Note 5. Shareholders' Equity

Note 5. Shareholders' Equity	9 Months Ended
	Sep. 30, 2015
Notes
Note 5. Shareholders' Equity	NOTE 5. SHAREHOLDERS’ EQUITY The Company, through approval of its Board of Directors, authorized common shares of 500,000,000 with a par value of $0.0001. COMMON STOCK During the month of February, 2014 the Company sold 6,666 share to 1 shareholder vial subscription at a value of $0.75 per share for cash totaling $5,000 During the month of May, 2014 the Company sold 10,000 share to 1 shareholder vial subscription at a value of $0.75 per share for cash totaling $7,500 During the month of June, 2014 the Company sold 6,666 share to 1 shareholder vial subscription at a value of $0.75 per share for cash totaling $5,000 During the month of July, 2014 the Company sold 6,666 share to 1 shareholder vial subscription at a value of $0.75 per share for cash totaling $5,000 During the month of August, 2014 the Company sold 10,000 share to 1 shareholder vial subscription at a value of $0.75 per share for cash totaling $7,500 During the month of September, 2014 the Company issued 300,000 share to 1 shareholder vial subscription at a value of $0.14 per share for the extinguishment of accounts payable totaling $42,000 During the month of November, 2014 the Company sold 103,600 share to 1 shareholder vial subscription at a value of $0.50 per share for cash totaling $51,800 There were 31,635,598 shares of common stock issued and outstanding at September 30, 2015 and 31,635,598 shares of common stock issued and outstanding at December 31, 2014.

Note 6. Related Party Transacti

Note 6. Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Notes
Note 6. Related Party Transactions	NOTE 6. RELATED PARTY TRANSACTIONS EQUITY TRANSACTIONS On June 14, 2013 the Company issued 15,000,000 shares, par value $.0001, to Andrew S. Mynheer, CEO and Director and 15,000,000 shares, par value $.0001, to Christopher J. Mynheer, Director, in exchange for services totaling $3,000. On June 14, 2013 the Company issued 500,000 shares, at $0.05 per share, to Soellingen Advisory Group, Inc., a non-related party, in exchange for consulting services totaling $25,000. Consulting service include but are not limited to; business development and financial planning. On September 25, 2014 the Company issued 300,000 shares to Soellingen Advisory Group, Inc. via subscription at a value of $0.14 per share for the extinguishment of accounts payable totaling $42,000

Note 7. Notes Payable

Note 7. Notes Payable	9 Months Ended
	Sep. 30, 2015
Notes
Note 7. Notes Payable	NOTE 7. NOTES PAYABLE Notes payable consisted of the following: September 30, 2015 December 31, 2014 New Opportunity Business Solutions, Inc., a non-related party for consulting services to the Company. Advanced Environmental Petroleum Producers Inc., f/k/a, Electric Vehicle Research Corporation (AEPP) is a client of New Opportunity Business Solutions, Inc. The original amount of the note payable was $199,800. The note states a 10% interest rate with no set maturity date and is due on demand. Payment of principal and interest is due on demand and is not contingent. However, to the extent that the Company incurs expense to accomplish the goal of the consulting agreement, the obligation of the company shall be reduced an equal amount. The note is as support for the consulting fee which was owed by AEPP but not paid as required. The loan is in default. Accrued interest at September 30, 2015 and December 31, 2014 was $46,231 and $31,080, respectively. $ 199,800 $ 199,800 Total notes payable $ 199,800 $ 199,800 Current portion $ 199,800 $ 199,800

Note 8. Prepaid Expense

Note 8. Prepaid Expense	9 Months Ended
	Sep. 30, 2015
Notes
Note 8. Prepaid Expense	NOTE 8. PREPAID EXPENSE The Company paid the law firm of Lapple IP Law, P.C. a $2,000 retainer to prepare and file a provisional patent application. During the period ending September 30, 2015 the Company capitalized the provisional patent cost of $3,502. The prepaid balance was $-0- and $2,000 on September 30, 2015 and December 31, 2014, respectively.

Note 9. Commitments and Conting

Note 9. Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Notes
Note 9. Commitments and Contingencies	NOTE 9. COMMITMENTS AND CONTINGENCIES On November 24, 2014 Advanced Environmental Petroleum Producers Inc., f/k/a, Electric Vehicle Research Corporation (“AEPP”) entered into an Engagement Letter (the "Engagement Letter") with Sigur Capital ("Sigur") where Sigur has been engaged to act as the lead advisor to Electric Vehicle Research Corp. working in close consultation with the Company and some of its existing advisers. Sigur will use all reasonable endeavors to assist the Company by providing the Advisory Service and introductions to its established pools of international capital. Per the Engagement letter, Sigur will take on the role of bringing qualified accredited investment to AEPP. The Financings, also achieved with the assistance of Sigur, will enable the Company to have access to more than adequate funding for the successful execution of its business plan. The company is to pay a $35,000 engagement fee out of the first financing proceeds if successful. From time to time the Company may be a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company’s financial position or results of operations.

Note 10. Warrants and Options

Note 10. Warrants and Options	9 Months Ended
	Sep. 30, 2015
Notes
Note 10. Warrants and Options	NOTE 10. WARRANTS AND OPTIONS There are no warrants or options outstanding to acquire any additional shares of common stock of the Company as of September 30, 2014.

Note 11. Subsequent Events

Note 11. Subsequent Events	9 Months Ended
	Sep. 30, 2015
Notes
Note 11. Subsequent Events	NOTE 11. SUBSEQUENT EVENTS Reverse Stock Split and Name Change – Effective October 13, 2015 On September 10, 2015, the majority shareholders of the Company approved a reverse stock split of one for 1,000 (1:1,000) of the Company's total issued and outstanding shares of common stock (the “Stock Split”). As of the record date of September 10, 2015, the Company had 31,635,598 voting shares of common stock issued and outstanding. The Stock Split will decrease the Company's total issued and outstanding shares of common stock from approximately 31,635,598 shares to 31,633 shares of common stock. The common stock will continue to be $0.0001 par value. The Stock Split was effected based upon the filing of appropriate documentation with FINRA. symbol will change to "AEPP". Pro-Forma Statement of Stockholders' Deficit For the period ended September 30, 2015 Additional Common Stock Paid in Accumulated Shares Amount Capital Deficit Total Balance, December 31, 2014 31,635,598 $ 3,163 $ 183,237 $ (482,519) $ (296,119) Reverse stock split of one for 1,000 (1:1,000) (31,603,963) (3,160) 3,160 --- --- Reconciliation of fractional shares caused by reverse stock split of one for 1,000 (1:1,000) (2) --- --- --- --- Net loss (71,065) (71,065) Balance, September 30, 2015 31,633 $ 3 $ 186,397 $ (553,584) $ (367,184) On September 25, 2015, the Company filed articles of amendment with the Florida Division of Corporations to change its name from Electric Vehicle Research Corporation to Advanced Environmental Petroleum Producers Inc. On September 29, 2015, the Company filed the Issuer Company-Related Action Notification Form with FINRA to change its name from Electric Vehicle Research Corporation to Advanced Environmental Petroleum Producers Inc. and to request a voluntary change of its symbol. On October 9, 2015 FINRA approved the Name Change and Stock Split to be effective October 13, 2015 and filed with the Securities and Exchange Commission on October 16, 2015. On October 24, 2015, the Company announced that it had entered into an agreement to acquire 100% of the issued and outstanding shares of 1923285 Alberta Ltd. ("Alberta") for 65,600,000 shares of the Company’s common stock. Both the Company's 65,600,000 and 100% of the issued and outstanding Alberta Shares will be held in escrow until Alberta provides the Company with firstly, required audited financial statements, secondly, a certificate that the leases held by Alberta from Peru Petro (an entity owned by the Government of Peru) are unencumbered and are in good standing. It is anticipated that the audited financial statements and the report confirming the reserves and the potential reserves will be completed before December 31, 2015.

Note 3. Summary of Significan17

Note 3. Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
Unaudited Interim Finanical Statements	UNAUDITED INTERIM FINANICAL STATEMENTS The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles, for complete financial statements please refer to our 2014 Annual Report on Form 10-K, filed on March 26, 2015. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year.
Use of Estimates	USE OF ESTIMATES The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require 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 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 investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents totaled $0 at September 30, 2015 and $15,454 at December 31, 2014.
Cash Flows Reporting	CASH FLOWS REPORTING The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period.
Financial Instruments	FINANCIAL INSTRUMENTS The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures · · · Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2015 and December 31, 2014. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
Intangible Assets	INTANGIBLE ASSETS The Company is in the process of applying for patent protection for its products and technologies. The Company has applied the provision of ASC topic 350 – Intangible – goodwill and other, in accounting for its intangible assets. Due to the early stages of the process the Company has not capitalized the full cost of the provisional patent application process. Therefore, Intangible assets are currently not being amortized. As of September 30, 2015 and December 31, 2014 Intangible assets totaled $3,502 and $0, respectively.
Revenue Recognition	REVENUE RECOGNITION The Company follows ASC 605, Revenue Recognition The Company derives revenue from consulting arrangements with clients. Revenue is generated by hourly fee structure or fixed contract costs, based on expected time to complete, additionally, costs incurred may be billed, as defined by the contractual arrangements.
Research and Development	RESEARCH AND DEVELOPMENT The Company expenses research and development costs when incurred. Research and development costs include engineering and testing of product and outputs. Indirect costs related to research and developments are allocated based on percentage usage to the research and development. The Company spent $2,969 in research and development costs for the period ending September 30, 2015 and $17,526 for the period of ending September 30, 2014.
Deferred Income Taxes and Valuation Allowance	DEFERRED INCOME TAXES AND VALUATION ALLOWANCE The Company accounts for income taxes under ASC 740, Income Taxes
Net Income (loss) Per Common Share	NET INCOME (LOSS) PER COMMON SHARE Net income (loss) per share is calculated in accordance with ASC 260, “Earnings Per Share.” The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share. Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding at September 30, 2015 and December 31, 2014. As of September 30, 2015, the Company had no dilutive potential common shares.
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification We have reviewed the FASB issued Accounting Standard Update (“ASU 2014-10”) and have applied the standard as of the dates during the periods reported. We have reviewed the FASB issued Accounting Standard Update (“ASU 2014-09”). The Company believes that the new or modified principal will not have a material effect on these financial statements. We have reviewed the FASB issued Accounting Standards Update (“ASU”) accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

Note 7. Notes Payable (Tables)

Note 7. Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Summary of Notes Payable	September 30, 2015 December 31, 2014 New Opportunity Business Solutions, Inc., a non-related party for consulting services to the Company. Advanced Environmental Petroleum Producers Inc., f/k/a, Electric Vehicle Research Corporation (AEPP) is a client of New Opportunity Business Solutions, Inc. The original amount of the note payable was $199,800. The note states a 10% interest rate with no set maturity date and is due on demand. Payment of principal and interest is due on demand and is not contingent. However, to the extent that the Company incurs expense to accomplish the goal of the consulting agreement, the obligation of the company shall be reduced an equal amount. The note is as support for the consulting fee which was owed by AEPP but not paid as required. The loan is in default. Accrued interest at September 30, 2015 and December 31, 2014 was $46,231 and $31,080, respectively. $ 199,800 $ 199,800 Total notes payable $ 199,800 $ 199,800 Current portion $ 199,800 $ 199,800

Note 11. Subsequent Events (Tab

Note 11. Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Subsequent Events Reverse Stock Split	Pro-Forma Statement of Stockholders' Deficit For the period ended September 30, 2015 Additional Common Stock Paid in Accumulated Shares Amount Capital Deficit Total Balance, December 31, 2014 31,635,598 $ 3,163 $ 183,237 $ (482,519) $ (296,119) Reverse stock split of one for 1,000 (1:1,000) (31,603,963) (3,160) 3,160 --- --- Reconciliation of fractional shares caused by reverse stock split of one for 1,000 (1:1,000) (2) --- --- --- --- Net loss (71,065) (71,065) Balance, September 30, 2015 31,633 $ 3 $ 186,397 $ (553,584) $ (367,184)

Note 4. Income Taxes (Details)

Note 4. Income Taxes (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Details
Operating Loss Carryforwards	$ 553,584
Deferred Tax Assets, Net of Valuation Allowance	$ 188,218
Effective Income Tax Rate Reconciliation, Percent	34.00%
Deferred Tax Assets, Valuation Allowance	$ 188,218

Note 7. Notes Payable (Details)

Note 7. Notes Payable (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Details
Notes Payable	$ 199,800	$ 199,800