Hoverink Biotechnologies (HVBH) 10-Q/A 14 Aug 15 2015 Q1 Quarterly report (amended) Financial data

Document And Entity Information

Document And Entity Information - Mar. 31, 2015 - shares	Total
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q1
Entity Registrant Name	Hoverink International Holdings Inc.
Entity Central Index Key	1,586,494
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	13,872,000

Condense Balance Sheets

Condense Balance Sheets - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Current Assets
Prepaid expense -Current	$ 68,496	$ 0
Longterm Assets
Prepaid expense -Long term	56,043
Total assets	124,539	0
Long term Liabilities
Note payable - related party	138,000	0
Total Liabilities	138,000	0
Shareholders' Deficit
Common Stock $0.0001 par value, 100,000,000 shares authorized, 13,872,000 issued and outstanding at March 31, 2015, and 20,000,000 issued and outstanding at December 31, 2014	1,387	2,000
Additional paid in capital	1,407	1,407
Discount on Common Stock	(1,387)	(2,000)
Accumulated deficit	(14,868)	(1,407)
Total Stockholders' deficit	(13,461)	0
Total Liabilities and Partner Deficit	$ 124,539	$ 0

Condense Balance Sheets (Parent

Condense Balance Sheets (Parenthetical) - Class of Stock [Domain] - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	13,872,000	20,000,000
Common Stock, Shares, Outstanding	13,872,000	20,000,000

Condensed Statements of Operati

Condensed Statements of Operation - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenue	$ 0	$ 0
Operating Expenses
General and administrative	13,461	750
Total Operating Expenses	13,461	750
Income from operations	(13,461)	(750)
Total other income (expense)	0	0
Net Income	$ (13,461)	$ (750)
Loss per share - basic and diluted (in dollar per share)	$ 0	$ 0
Weighted average shares outstanding- basic and diluted (in shares)	17,220,756	200,000

Condensed Statements of Cash Fl

Condensed Statements of Cash Flow - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
OPERATING ACTIVITIES
Net income	$ (13,461)	$ (750)
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation
Changes in operating assets and liabilities:
Accounts payable	$ 0	750
Net cash provided by (used in) operating activities	(13,461)	0
Financing Activities:
Notes Payable	138,000	0
Net cash provided by (used in) financing activities	138,000	0
NET INCREASE IN CASH	124,539	0
Cash at beginning of period	0	2,000
Cash at end of period	124,539	$ 2,000
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 0
Cash paid for taxes

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION Hoverink International Holdings, Inc is a development stage company focusing on the development of recreational amusement parks based upon innovative hover board technology. The Company was incorporated in the State of Delaware in July 13, 2013 On February 15, 2015, the Company implemented a change of control by issuing shares to new shareholders, redeeming shares of existing shareholders, electing new officers and directors and accepting the resignations of its then existing officers and directors. In connection with the change of control, the shareholders of the Company and its board of directors unanimously approved the change of the Company’s name from Sky Run Acquisition Corporation to Hoverink International Holdings, Inc. On March 19 th of 2015 the company entered into a loan for $ 138,000 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 satisfaction of liabilities in the normal course of business. The Company has not yet established a stable ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary financing to sustain operations and the attainment of profitable operations. The Company had a net loss of approximately $ 13,461 14,868 In order to continue as a going concern, the Company needs to develop a reliable source of revenues, and achieve a profitable level of operations. During the Three months ended March 31, 2015 and 2014 and the year ended December 31, 2014, the Company has been involved primarily with development of operations and applying to trade in the public market. The Company has continued to organize and structure to meet the needs of shareholders and attract suitable financing. To fund operations for the next twelve months, the Company projects a need for $ 5,000,000 If the Company is unable to obtain adequate capital, it could be forced to cease operations. Accordingly, the accompanying financial statements are accounted for as if the Company is a going concern and do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amount and classification of liabilities or other adjustments that might be necessary should be Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information and with the instructions to Form I 0-Q and Article of Regulation S-X. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management's opinion however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the full year. The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. As of March 31, 2015, there are no cash and cash equivalents for the company. FSAB ASC 280, “Disclosure about Segments of an Enterprise and Related Information”, changed the way public companies report information about segments of their business in their quarterly reports issued to shareholders. It also requires entity-wide disclosures about the products and services the entity provides, the material countries in which it holds assets and reports revenues and its major customers “Reporting Comprehensive Income,” establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at March 31, 2015, the Company has no items that represent a comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements. The preparation of the financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and judgments that affect the amounts reported in our financial statements and the accompanying notes. The actual results that we experience may differ materially from our estimates. All significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practical the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed. The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. The Company follows the liability method of accounting for income taxes. Under this method, 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 and tax loss carry-forwards. 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. 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. The Company follows ASC 718-10, "Stock Compensation", which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 is a revision to SFAS No. 123, "Accounting for Stock-Based Compensation," and supersedes Accounting Principles Board ("APB") Opinion No. 25, "Accounting for Stock Issued to Employees," and its related implementation guidance. ASC 718-10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company has not adopted a stock option plan and has not granted any stock options. As at December 31, 2014 the Company had not adopted a stock option plan nor had it granted any stock options. Accordingly no stock-based compensation has been recorded to date. In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company adopted ASU 2014-10 during the quarter ended June 30, 2014, thereby no longer presenting or disclosing any information required by Topic 915

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 3 – CAPITAL STOCK The Company’s capitalization is 100,000,000 0.001 On February 15, 2015, the company redeemed an aggregate of 19,500,000 0.0001 1950 On February 16, 2015, the company issued 13,372,000

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 4 – RELATED PARTY TRANSACTIONS As of March 31 2015 the company entered into a loan for $ 138,000

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 5 – INCOME TAXES Income taxes are provided in accordance with ASC 740 Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax asset and liabilities. 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. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. No provision was made for Federal Income tax. The Company 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. The Company 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.

Prepaid expense

Prepaid expense	3 Months Ended
	Mar. 31, 2015
Prepaid Expense [Abstract]
Prepaid Expense [Text Block]	NOTE 6 – Prepaid expense As of March 31, 2015, the company has short term prepaid expense of $ 68,496 56,043

SUMMARY OF SIGNIFICANT ACCOUN12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information and with the instructions to Form I 0-Q and Article of Regulation S-X. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management's opinion however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the full year.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. As of March 31, 2015, there are no cash and cash equivalents for the company.
Segment Reporting, Policy [Policy Text Block]	Segmented Reporting FSAB ASC 280, “Disclosure about Segments of an Enterprise and Related Information”, changed the way public companies report information about segments of their business in their quarterly reports issued to shareholders. It also requires entity-wide disclosures about the products and services the entity provides, the material countries in which it holds assets and reports revenues and its major customers
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Loss “Reporting Comprehensive Income,” establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at March 31, 2015, the Company has no items that represent a comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates and Assumptions The preparation of the financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and judgments that affect the amounts reported in our financial statements and the accompanying notes. The actual results that we experience may differ materially from our estimates.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments All significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practical the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed.
Earnings Per Share, Policy [Policy Text Block]	Loss per Common Share The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, 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 and tax loss carry-forwards. 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. 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.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-based Compensation The Company follows ASC 718-10, "Stock Compensation", which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 is a revision to SFAS No. 123, "Accounting for Stock-Based Compensation," and supersedes Accounting Principles Board ("APB") Opinion No. 25, "Accounting for Stock Issued to Employees," and its related implementation guidance. ASC 718-10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company has not adopted a stock option plan and has not granted any stock options. As at December 31, 2014 the Company had not adopted a stock option plan nor had it granted any stock options. Accordingly no stock-based compensation has been recorded to date.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company adopted ASU 2014-10 during the quarter ended June 30, 2014, thereby no longer presenting or disclosing any information required by Topic 915

NATURE OF OPERATIONS AND BASI13

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Nature of Operation and Basis of Presentation [Line Items]
Entity Incorporation, Date of Incorporation	Jul. 13, 2013
Proceeds from Notes Payable	$ 138,000	$ 0
Debt Instrument, Maturity Date	Mar. 31, 2019
Stockholders' Equity Attributable to Parent	$ (13,461)		$ 0
Accumulated deficit	14,868		$ 1,407
Funds Required For Future Operations	$ 5,000,000

CAPITAL STOCK (Details Textual)

CAPITAL STOCK (Details Textual) - USD ($)	1 Months Ended
	Feb. 15, 2015	Mar. 31, 2015	Feb. 16, 2015	Dec. 31, 2014
Capital Stock [Line Items]
Common Stock, Shares Authorized		100,000,000		100,000,000
Common Stock, Par or Stated Value Per Share		$ 0.0001		$ 0.0001
Common Stock, Shares, Issued		13,872,000		20,000,000
Common Stock [Member]
Capital Stock [Line Items]
Common Stock, Shares Authorized		100,000,000
Common Stock, Par or Stated Value Per Share		$ 0.001
Stock Redeemed or Called During Period, Shares	19,500,000
Stock Redeemed or Called During Period, Value	$ 1,950
Common Stock, Shares, Issued			13,372,000
Redemption Price Per Share	$ 0.0001

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Notes Payable, Related Parties, Noncurrent	$ 138,000	$ 0
Debt Instrument Maturity Date	Mar. 31, 2019

Prepaid expense (Details Textua

Prepaid expense (Details Textual) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Prepaid expense [Line Items]
Prepaid Expense, Current	$ 68,496	$ 0
Prepaid Expense, Noncurrent	$ 56,043