Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 22, 2016 | Jun. 30, 2015 | |
Document Information [Line Items] | |||
Entity Registrant Name | Chess Supersite Corp | ||
Entity Central Index Key | 1,586,554 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Trading Symbol | CHZP | ||
Entity Common Stock, Shares Outstanding | 21,780,000 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,015 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 690 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash | $ 838 | $ 1,084 |
Total current assets | 838 | 1,084 |
Total assets | 838 | 1,084 |
Current liabilities | ||
Accounts payable and accrued liabilities [Note 7] | 480,919 | 51,397 |
Payable to related parties [Note 8] | 400,000 | 200,000 |
Shareholder advances [Note 9] | 195,436 | 28,239 |
Short term loan | 12,500 | 0 |
Total current liabilities | 1,088,855 | 279,636 |
Total liabilities | 1,088,855 | 279,636 |
Stockholders' deficit | ||
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock, $0.0001 par value, 100,000,000 shares authorized, 20,650,000 common shares outstanding as at December 31, 2015 (6,900,000 common shares outstanding as at December 31, 2014) [Note 10] | 2,065 | 690 |
Additional paid-in capital | 2,017,181 | 79,755 |
Accumulated deficit | (3,107,263) | (358,997) |
Total stockholders’ deficit | (1,088,017) | (278,552) |
Total liabilities and stockholders’ deficit | $ 838 | $ 1,084 |
BALANCE SHEETS _Parenthetical_
BALANCE SHEETS [Parenthetical] - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
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, Outstanding | 20,650,000 | 6,900,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING EXPENSES | ||
Advisory and consultancy fee [Note 8] | $ 2,033,611 | $ 0 |
Management services fee to related parties [Note 8] | 300,000 | 200,000 |
Legal and professional fees | 75,629 | 36,617 |
Software development expense | 284,869 | 48,590 |
Impairment loss [Note 6] | 0 | 70,000 |
Website development and marketing expenses | 31,323 | 0 |
Rent | 12,000 | 3,000 |
Office and general | 9,291 | 0 |
Total operating expenses | 2,746,723 | 358,207 |
OTHER INCOME AND EXPENSES | ||
Interest and bank charges | 1,543 | 133 |
Net loss before income taxes | (2,748,266) | (358,340) |
Income taxes | 0 | 0 |
Net loss | $ (2,748,266) | $ (358,340) |
Loss per share, basic and diluted (in dollars per share) | $ (0.34) | $ (0.03) |
Weighted average shares - basic and diluted (in shares) | 8,053,274 | 10,482,137 |
STATEMENT OF CHANGES IN STOCKHO
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated deficit [Member] |
Balance at Dec. 31, 2013 | $ 1,600 | $ 2,000 | $ 257 | $ (657) |
Balance (in shares) at Dec. 31, 2013 | 20,000,000 | |||
Redemption of common stock - May 5, 2014 | (1,950) | $ (1,950) | 0 | 0 |
Redemption of common stock - May 5, 2014 (in shares) | (19,500,000) | |||
Redemption of common stock - July 12, 2014 | (50) | $ (50) | 0 | 0 |
Redemption of common stock - July 12, 2014 (in shares) | (500,000) | |||
Shares issued for cash | 10,188 | $ 190 | 9,998 | 0 |
Shares issued for cash (in Shares) | 1,900,000 | |||
Shares issued as consideration for acquisition of intangible | 70,000 | $ 500 | 69,500 | 0 |
Shares issued as consideration for acquisition of intangible (in shares) | 5,000,000 | |||
Net loss | (358,340) | $ 0 | 0 | (358,340) |
Balance at Dec. 31, 2014 | (278,552) | $ 690 | 79,755 | (358,997) |
Balance (in shares) at Dec. 31, 2014 | 6,900,000 | |||
Shares issued as consideration for management services [Note 8] | 100,000 | $ 1,000 | 99,000 | 0 |
Shares issued as consideration for management services [Note 8] (in shares) | 10,000,000 | |||
Shares issued as consideration for advisory and other services [Note 8] | 1,838,801 | $ 375 | 1,838,426 | 0 |
Shares issued as consideration for advisory and other services [Note 8] (in shares) | 3,750,000 | |||
Net loss | (2,748,266) | $ 0 | 0 | (2,748,266) |
Balance at Dec. 31, 2015 | $ (1,088,017) | $ 2,065 | $ 2,017,181 | $ (3,107,263) |
Balance (in shares) at Dec. 31, 2015 | 20,650,000 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING ACTIVITIES | ||
Net loss for the period | $ (2,748,266) | $ (358,340) |
Impairment of intangible assets | 0 | 70,000 |
Shares issued for management services [Note 8] | 100,000 | 0 |
Shares issued for advisory and other services | 1,838,801 | 0 |
Changes in operating assets and liabilities: | ||
Change in accounts payable and accrued liabilities | 629,522 | 250,997 |
Net cash used in operating activities | (179,943) | (37,343) |
FINANCING ACTIVITIES | ||
Shareholder advances | 179,697 | 28,239 |
Redemption of common stock | 0 | (2,000) |
Proceeds from issuance of common stock | 0 | 10,188 |
Net cash provided by financing activities | 179,697 | 36,427 |
Net decrease in cash during the period | (246) | (916) |
Cash, beginning of period | 1,084 | 2,000 |
Cash, end of period | 838 | 1,084 |
NON CASH INVESTING AND FINANCING ACTIVITIES | ||
Shares issued as consideration for acquisition of intangible | 0 | 70,000 |
Cash paid for interest | 0 | 0 |
Cash paid for taxes | $ 0 | $ 0 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. NATURE OF OPERATIONS Chess Supersite Corporation, (“the Company”, formerly River Run Acquisition Corporation) was incorporated on July 9, 2013 In May, 2014, the Company effected a change in control by the redemption of the stock held by its original shareholders, the issuance of shares of its common stock to new shareholders, the resignation of its original officers and directors and the appointment of new officers and directors. On July 6, 2015, the Company filed its form S-1/A, to amend its form S-1 previously filed on January 26, 2015 and December 11, 2014. The prospectus relates to the offer and sale of 1,500,000 0.0001 0.50 On July 13, 2015, the Company received a notice of effectiveness from the SEC for the registration of its shares. |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. BASIS OF PRESENTATION The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Dec. 31, 2015 | |
Going Concern [Abstract] | |
Going Concern [Text Block] | GOING CONCERN The Company has not yet generated any revenue since inception to date and has sustained operating losses during the period ended December 31, 2015. The Company had working capital deficit of $ 1,088,017 3,107,263 The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES USE OF ESTIMATES The preparation of financial statements in conformity with GAAP 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 of revenues and expenses during the reporting periods. Actual results could differ from those estimates. CASH Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The Company did not have cash equivalents as of December 31, 2015 and 2014. INTANGIBLE ASSETS Intangible assets represents the cost of intellectual rights related to the development of the online chess game. We evaluate the recoverability of finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review indicates that the carrying amount of intangible assets is not recoverable, the carrying amount of such assets is reduced to fair value. SOFTWARE DEVELOPMENT COSTS The costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the application is substantially complete and ready for its intended use. These costs are amortized using the straight-line method over the estimated economic useful life of 5 years starting from when the application is substantially complete and ready for its intended use. CONCENTRATION OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of December 31, 2015. INCOME TAXES Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of December 31, 2015, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. LOSS PER COMMON SHARE Basic loss per common share excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of December 31, 2015, there are no outstanding dilutive securities. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments. The estimated fair value of cash, accounts payable, and accrued liabilities approximate their carrying values due to the short-term maturity of these instruments. |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 12 Months Ended |
Dec. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 5. RECENT ACCOUNTING PRONOUNCEMENTS Recently Issued Accounting Standards From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that are adopted by the Company as of the specified effective date. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements Going Concern Recently Adopted Accounting Standards In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-10, “Development Stage Entities”. The amendments in this update remove the definition of a development stage entity from the Master Glossary of the ASC thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to: a) present inception-to-date information in the statements of income, cash flows, and shareholder equity, b) label the financial statements as those of a development stage entity, c) disclose a description of the development stage activities in which the entity is engaged, and d) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments in this update are applied retrospectively. The early adoption of ASU 2014-10 is permitted, which removed the development stage entity financial reporting requirements from the Company. The Company adopted ASU 2014-10 as of December 31, 2014. On April 7, 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and the accounting for debt issue costs under IFRS. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments in this Update apply to all companies. They became effective for public business entities in the annual period ending after December 15, 2015, and interim periods within those fiscal years, with early application permitted. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | INTANGIBLE ASSETS Intangible assets represented purchase of intellectual rights related to the development of the online chess game, by issuing 5,000,000 70,000 During the fiscal year ended December 31, 2014, the Company recorded impairment charges related to intangible assets totaling $ 70,000 |
ACCOUNTS PAYABLE AND ACCRUED LI
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The company has entered into agreements with an unrelated third party for advisory services for a period of 3 1,000,000 336,111 |
RELATED PARTY TRANSACTIONS AND
RELATED PARTY TRANSACTIONS AND BALANCES | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | 8. RELATED PARTY TRANSACTIONS AND BALANCES During the year ended December 31, 2015, $ 300,000 200,000 10,000,000 100,000 Advisory and consultancy fee includes $ 1,500,000 3,000,000 |
SHAREHOLDER ADVANCES
SHAREHOLDER ADVANCES | 12 Months Ended |
Dec. 31, 2015 | |
Shareholder Advances [Abstract] | |
Shareholder Advances [Text Block] | 9 SHAREHOLDER ADVANCES Shareholder advances represent expenses paid by the owners from personal funds. The amount is non-interest bearing, unsecured and due on demand. |
STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 10. STOCKHOLDERS’ DEFICIT The Company’s authorized capital stock consists of 100,000,000 20,650,000 6,900,000 The Company has not declared any dividends in its fiscal year ended December 31, 2015. Currently, the Company has no intention of paying cash dividends in the foreseeable future, but rather intends to use any future earnings for the development of its business in the foreseeable future. Capitalization The Company is authorized to issue 100,000,000 0.0001 20,650,000 20,000,000 0.0001 Common Stock Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights. Subject to preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the board of directors in its discretion from funds legally available therefor. Holders of common stock have no pre-emptive rights to purchase the Company’s common stock. There are no conversion or redemption rights or sinking fund provisions with respect to the common stock. The Company may issue additional shares of common stock which could dilute its current shareholder’s share value. On May 5, 2014, the Company issued 500,000 19,500,000 1,950 500,000 50 In July 2014 the Company issued 5,000,000 70,000 In July 2014 the Company issued 88,000 88 In August 2014 the Company issued 20,000 0.50 10,000 On November 23, 2015, the Company issued 5,000,000 50,000 On November 25, 2015, the Company filed a registration statement on Form S-8 for 10,000,000 3,750,000 1,838,426 In February 2016, the Company issued 1,130,000 Preferred Stock Shares of preferred stock may be issued from time to time in one or more series as may be determined by the board of directors. The board of directors may fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof without any further vote or action by the stockholders of the Company, except that no holder of preferred stock shall have pre-emptive rights. Any shares of preferred stock so issued would typically have priority over the common stock with respect to dividend or liquidation rights. The board of directors does not at present intend to seek stockholder approval prior to any issuance of currently authorized stock, unless otherwise required by law or otherwise. |
LEASE AGREEMENT
LEASE AGREEMENT | 12 Months Ended |
Dec. 31, 2015 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | 11. LEASE AGREEMENT The Company is party to a lease agreement dated October 1, 2014, with Hard Assets Capital Corp., for the lease of its office premises. The term of the lease was one year from the date of the agreement and provides for a base rent of $1,000 per month for the premises. This agreement was renewed on October 1, 2015 for one year. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 12. INCOME TAXES Income taxes 39 39 2015 2014 Net loss for the year $ (2,746,266) $ (358,340) Expected income tax recovery from net loss (1,071,823) (139,753) Change in valuation allowance 1,071,823 139,753 - - Deferred tax assets Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. 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. 2015 2014 Deferred Tax Assets - Non-current: Tax effect of NOL Carryover $ 1,211,834 $ 140,009 Less valuation allowance (1,211,834) (140,009) Deferred tax assets, net of valuation allowance - - At December 31, 2015, the Company had net operating loss carryforwards of approximately $ 3,107,263 2036 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 13. SUBSEQUENT EVENTS In February 2016, the Company issued 1,130,000 On March 7, 2016, the Company issued Non-Negotiable Convertible Promissory Notes (“Notes”) 300,000 150,000 September 1, 2016 (“Maturity Date”) Each of the Notes is convertible into Common Stock of the Company at a conversion price equal to 45% of the lowest trading price of the Common Stock as reported on the OTC Markets Group’s OTC Pink quotation service. 4.99 |
SUMMARY OF SIGNIFICANT ACCOUN20
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES The preparation of financial statements in conformity with GAAP 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 of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The Company did not have cash equivalents as of December 31, 2015 and 2014. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | INTANGIBLE ASSETS Intangible assets represents the cost of intellectual rights related to the development of the online chess game. We evaluate the recoverability of finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review indicates that the carrying amount of intangible assets is not recoverable, the carrying amount of such assets is reduced to fair value. |
Research, Development, and Computer Software, Policy [Policy Text Block] | SOFTWARE DEVELOPMENT COSTS The costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the application is substantially complete and ready for its intended use. These costs are amortized using the straight-line method over the estimated economic useful life of 5 years starting from when the application is substantially complete and ready for its intended use. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | CONCENTRATION OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of December 31, 2015. |
Income Tax, Policy [Policy Text Block] | INCOME TAXES Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of December 31, 2015, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. |
Earnings Per Share, Policy [Policy Text Block] | LOSS PER COMMON SHARE Basic loss per common share excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of December 31, 2015, there are no outstanding dilutive securities. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments. The estimated fair value of cash, accounts payable, and accrued liabilities approximate their carrying values due to the short-term maturity of these instruments. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The provision for income taxes is calculated at US corporate tax rate of approximately 39 39 2015 2014 Net loss for the year $ (2,746,266) $ (358,340) Expected income tax recovery from net loss (1,071,823) (139,753) Change in valuation allowance 1,071,823 139,753 - - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Net deferred tax assets consist of the following components as of December 31: 2015 2014 Deferred Tax Assets - Non-current: Tax effect of NOL Carryover $ 1,211,834 $ 140,009 Less valuation allowance (1,211,834) (140,009) Deferred tax assets, net of valuation allowance - - |
NATURE OF OPERATIONS (Details T
NATURE OF OPERATIONS (Details Textual) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Jul. 06, 2015 | Dec. 31, 2014 | |
Organization, Nature of Business, Going Concern and Management Plans [Line Items] | |||
Entity Incorporation, Date of Incorporation | Jul. 9, 2013 | ||
Common Stock Shares Offered | 1,500,000 | ||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Share Price | $ 0.50 |
GOING CONCERN (Details Textual)
GOING CONCERN (Details Textual) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Going Concern [Line Items] | ||
Working Capital Deficit | $ 1,088,017 | |
Retained Earnings (Accumulated Deficit) | $ 3,107,263 | $ 358,997 |
SUMMARY OF SIGNIFICANT ACCOUN24
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) | 12 Months Ended |
Dec. 31, 2015 | |
Software Development [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 5 years |
INTANGIBLE ASSETS (Details Text
INTANGIBLE ASSETS (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Jul. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | |||
Stock Issued During Period, Value, Purchase of Assets | $ 70,000 | ||
Asset Impairment Charges, Total | $ 70,000 | ||
Intellectual Property [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Stock Issued During Period, Shares, Purchase of Assets | 5,000,000 | 5,000,000 | |
Stock Issued During Period, Value, Purchase of Assets | $ 70,000 | $ 70,000 |
ACCOUNTS PAYABLE AND ACCRUED 26
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details Textual) | 12 Months Ended |
Dec. 31, 2015USD ($)shares | |
Accounts Payable And Accrued Liabilities [Line Items] | |
Term Of Agreement Entered For Advisory Services | 3 months |
Accrued Professional Fees, Current | $ | $ 336,111 |
Advisory And Other Services [Member] | |
Accounts Payable And Accrued Liabilities [Line Items] | |
Stock Issued During Period, Shares, Issued for Services | shares | 1,000,000 |
RELATED PARTY TRANSACTIONS AN27
RELATED PARTY TRANSACTIONS AND BALANCES (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | |||
Management Fee Expense | $ 300,000 | $ 200,000 | |
Stock Issued During Period, Value, Issued for Services | 1,838,801 | ||
Professional Fees | 2,033,611 | 0 | |
Advisory And Other Services [Member] | |||
Related Party Transaction [Line Items] | |||
Stock Issued During Period, Shares, Issued for Services | 3,750,000 | ||
Stock Issued During Period, Value, Issued for Services | $ 1,838,426 | ||
Majority Shareholder [Member] | |||
Related Party Transaction [Line Items] | |||
Management Fee Expense | $ 300,000 | $ 200,000 | |
Majority Shareholder [Member] | Management Services [Member] | |||
Related Party Transaction [Line Items] | |||
Stock Issued During Period, Shares, Issued for Services | 10,000,000 | ||
Stock Issued During Period, Value, Issued for Services | $ 100,000 | ||
Majority Shareholder [Member] | Advisory And Other Services [Member] | |||
Related Party Transaction [Line Items] | |||
Stock Issued During Period, Shares, Issued for Services | 3,000,000 | ||
Professional Fees | $ 1,500,000 |
STOCKHOLDERS' DEFICIT (Details
STOCKHOLDERS' DEFICIT (Details Textual) - USD ($) | Jun. 12, 2014 | May. 05, 2014 | Feb. 29, 2016 | Dec. 31, 2015 | Nov. 25, 2015 | Nov. 23, 2015 | Aug. 31, 2014 | Jul. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 06, 2015 |
Stockholders' Deficit [Line Items] | |||||||||||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | 100,000,000 | ||||||||
Common Stock, Shares, Issued | 20,650,000 | 20,650,000 | 6,900,000 | ||||||||
Common Stock, Shares, Outstanding | 20,650,000 | 20,650,000 | 6,900,000 | ||||||||
Stock Redeemed or Called During Period, Shares | 500,000 | 19,500,000 | |||||||||
Redemption of common stock - May 5, 2014 | $ 50 | $ 1,950 | $ (1,950) | ||||||||
Stock Issued During Period, Value, New Issues | $ 10,000 | $ 88 | |||||||||
Stock Issued During Period, Shares, New Issues | 20,000 | 88,000 | |||||||||
Stock Issued During Period, Value, Purchase of Assets | $ 70,000 | ||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||
Common Stock, Redemption Price Per Share | $ 0.0001 | $ 0.0001 | |||||||||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | 20,000,000 | ||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||
Equity Issuance Per Share | $ 0.50 | $ 0.0001 | |||||||||
Stock Issued During Period, Value, Share-based Compensation, Gross | $ 100,000 | ||||||||||
Stock Issued During Period, Value, Issued for Services | $ 1,838,801 | ||||||||||
Management Services [Member] | |||||||||||
Stockholders' Deficit [Line Items] | |||||||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 5,000,000 | ||||||||||
Stock Issued During Period, Value, Share-based Compensation, Gross | $ 50,000 | ||||||||||
Advisory And Other Services [Member] | |||||||||||
Stockholders' Deficit [Line Items] | |||||||||||
Stock Issued During Period, Shares, Issued for Services | 3,750,000 | ||||||||||
Stock Issued During Period, Value, Issued for Services | $ 1,838,426 | ||||||||||
Advisory And Other Services [Member] | Subsequent Event [Member] | |||||||||||
Stockholders' Deficit [Line Items] | |||||||||||
Stock Issued During Period, Shares, Issued for Services | 1,130,000 | ||||||||||
Capitalization [Member] | |||||||||||
Stockholders' Deficit [Line Items] | |||||||||||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | |||||||||
Common Stock, Shares, Outstanding | 20,650,000 | 20,650,000 | |||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |||||||||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | |||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |||||||||
Intellectual Property [Member] | |||||||||||
Stockholders' Deficit [Line Items] | |||||||||||
Stock Issued During Period, Value, Purchase of Assets | $ 70,000 | $ 70,000 | |||||||||
Stock Issued During Period, Shares, Purchase of Assets (In shares) | 5,000,000 | 5,000,000 | |||||||||
Directors and Officers [Member] | |||||||||||
Stockholders' Deficit [Line Items] | |||||||||||
Stock Redeemed or Called During Period, Shares | 500,000 | ||||||||||
Directors and Officers [Member] | Management Services [Member] | |||||||||||
Stockholders' Deficit [Line Items] | |||||||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 10,000,000 |
LEASE AGREEMENT (Details Textua
LEASE AGREEMENT (Details Textual) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Operating Leased Assets [Line Items] | |
Monthly Lease And Rental Expense | $ 1,000 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Effective Income Tax Rate Reconciliation [Line Items] | ||
Net loss for the year | $ (2,748,266) | $ (358,340) |
Expected income tax recovery from net loss | (1,071,823) | (139,753) |
Change in valuation allowance | 1,071,823 | 139,753 |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred Tax Assets - Non-current: | ||
Tax effect of NOL Carryover | $ 1,211,834 | $ 140,009 |
Less valuation allowance | (1,211,834) | (140,009) |
Deferred tax assets, net of valuation allowance | $ 0 | $ 0 |
INCOME TAXES (Details Textual)
INCOME TAXES (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Deferred Tax Assets Non Current [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 3,107,263 | |
Operating Loss Expiration Period Description | 2,036 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 39.00% | 39.00% |
SUBSEQUENT EVENTS (Details Text
SUBSEQUENT EVENTS (Details Textual) - USD ($) | 1 Months Ended | |||
Mar. 31, 2016 | Feb. 29, 2016 | Dec. 31, 2015 | Mar. 07, 2016 | |
Subsequent Event [Line Items] | ||||
Debt Instrument, Maturity Date | Sep. 1, 2016 | |||
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Debt Conversion, Converted Instrument, Rate | 4.99% | |||
Debt Conversion, Description | Each of the Notes is convertible into Common Stock of the Company at a conversion price equal to 45% of the lowest trading price of the Common Stock as reported on the OTC Markets Groups OTC Pink quotation service. | |||
Subsequent Event [Member] | Convertible Notes Payable [Member] | ||||
Subsequent Event [Line Items] | ||||
Debt Instrument, Face Amount | $ 300,000 | |||
Private Investor One [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Convertible Notes Payable, Current | 150,000 | |||
Private Investor Two [Member] | ||||
Subsequent Event [Line Items] | ||||
Convertible Notes Payable, Current | $ 150,000 | |||
Advisory And Other Services [Member] | ||||
Subsequent Event [Line Items] | ||||
Stock Issued During Period, Shares, Issued for Services | 3,750,000 | |||
Advisory And Other Services [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Stock Issued During Period, Shares, Issued for Services | 1,130,000 |