Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 25, 2015 | Jun. 30, 2014 | |
Document And Entity Information | |||
Entity Registrant Name | ADM ENDEAVORS, INC. | ||
Entity Central Index Key | 1588014 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Current Fiscal Year End Date | -19 | ||
Is Entity a Well-known Seasoned Issuer? | No | ||
Is Entity a Voluntary Filer? | No | ||
Is Entity's Reporting Status Current? | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $117,795 | ||
Entity Common Stock, Shares Outstanding | 117,795,000 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2014 | ||
Entity Incorporation, Date of Incorporation | 4-Jan-01 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Current Assets | ||
Cash | $11,009 | $38,879 |
Total Current Assets | 11,009 | 38,879 |
Properties and Equipment, net | 28,769 | 3,068 |
Total Assets | 39,778 | 41,947 |
Current Liabilities | ||
Accounts Payable | 10,000 | |
Accrued Salary | 126,198 | 144,035 |
Note Payable | 27,204 | |
Total Current Liabilities | 163,402 | 144,035 |
Total Liabilities | 163,402 | 144,035 |
Stockholders' Deficit: | ||
Preferred Stock; par value $0.001 authorized 80,000,000 shares, Issued 0 shares, respectively | ||
Common Stock; par value $0.001 authorized 800,000,000 shares, Issued 117,795,000, respectively | 117,795 | 117,795 |
Additional Paid in Capital | 12,595,705 | 12,595,705 |
Accumulated Deficit | -12,837,124 | -12,815,588 |
Total Stockholders' Deficit | -123,624 | -102,088 |
Total Liabilities and Stockholders' Deficit | $39,778 | $41,947 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position | ||
Preferred Stock, par value | $0.00 | $0.00 |
Preferred Stock, shares authorized | 80,000,000 | 80,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares authorized | 800,000,000 | 800,000,000 |
Common Stock, shares issued | 117,795,000 | 117,795,000 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement | ||
Revenues | $210,633 | $243,927 |
Cost of Revenues | 67,495 | 83,462 |
Gross Margin | 143,138 | 160,465 |
Operating Expenses: | ||
General and Administrative | 46,844 | 55,197 |
Consulting | 10,000 | 2,250 |
Officer Compensation | 86,439 | 72,000 |
Travel | 20,502 | 22,528 |
Total Operating Expenses | 163,785 | 151,975 |
Operating Income (Loss) | -20,647 | 8,490 |
Other Expenses | ||
Interest Expense | 889 | |
Total Expenses | 889 | |
Gain (Loss) Before Taxes | -21,536 | 8,490 |
Net Income (Loss) | ($21,536) | $8,490 |
Gain (Loss) per Share, Basic & Diluted | $0 | $0 |
Weighted Average Shares Outstanding | 117,795,000 | 116,824,533 |
STATEMENTS_OF_CONSOLIDATED_STO
STATEMENTS OF CONSOLIDATED STOCKHOLDERS' DEFICIT (USD $) | Preferred Stock | Common Stock | Additional Paid in Capital | Accumulated Deficit | Total |
Stockholders' Equity, beginning of period, Value at Dec. 31, 2010 | $115,545 | $12,595,705 | ($12,769,370) | ($58,120) | |
Stockholders' Equity, beginning of period, Shares at Dec. 31, 2010 | 115,545,000 | ||||
Net Income (Loss) for the Period | -42,501 | -42,501 | |||
Stockholders' Equity, end of period, Value at Dec. 31, 2011 | 115,545 | 12,595,705 | -12,811,871 | -100,621 | |
Stockholders' Equity, end of period, Shares at Dec. 31, 2011 | 115,545,000 | ||||
Net Income (Loss) for the Period | -12,207 | -12,207 | |||
Stockholders' Equity, end of period, Value at Dec. 31, 2012 | 12,595,705 | -12,824,078 | -112,828 | ||
Stockholders' Equity, beginning of period, Shares at Dec. 31, 2012 | 115,545,000 | ||||
Stock issued for services, Value | 20,000 | 2,250 | 22,250 | ||
Stock issued for services, Shares | 20,000,000 | 2,250,000 | |||
Stock cancelled, Value | -20,000 | -20,000 | |||
Stock cancelled, Shares | -20,000,000 | ||||
Net Income (Loss) for the Period | 8,490 | 8,490 | |||
Stockholders' Equity, end of period, Value at Dec. 31, 2013 | 2,250 | 12,595,705 | -12,815,588 | -102,088 | |
Stockholders' Equity, end of period, Shares at Dec. 31, 2013 | 117,795,000 | ||||
Net Income (Loss) for the Period | -21,536 | -21,536 | |||
Stockholders' Equity, end of period, Value at Dec. 31, 2014 | $2,250 | $12,595,705 | ($12,837,124) | ($123,624) | |
Stockholders' Equity, end of period, Shares at Dec. 31, 2014 | 117,795,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOW FROM OPERATING ACTIVITES: | ||
Net Income (Loss) for the Period | ($21,536) | $8,490 |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Common stock issued for services | 2,250 | |
Depreciation | 9,324 | 919 |
Change in Operating Assets & Liabilities: | ||
Increase in Accounts Payable | 10,000 | |
Increase in Accrued Salary | -17,837 | 15,858 |
Net Cash Provided (Used) from Operating Activities | -20,049 | 27,517 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of equipment | -35,025 | |
Net Cash Used by Investing Activities | -35,025 | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from note payable | 30,015 | |
Payments on note payable | -2,811 | |
Proceeds from Shareholder Loan | ||
Payments on Shareholder Loan | ||
Net Cash Provided (Used) by Financing Activities | 27,204 | |
Net (Decrease) Increase in Cash | -27,870 | 27,517 |
Cash at Beginning of Period | 38,879 | 11,362 |
Cash at End of Period | 11,009 | 38,879 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid during the year for: Interest | 889 | |
Cash paid during the year for: Franchise and Income Taxes |
Note_1_Organization_and_Descri
Note 1 - Organization and Description of Business | 12 Months Ended |
Dec. 31, 2014 | |
Notes | |
Note 1 - Organization and Description of Business | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS |
We began operations in 1988, under the ownership and control of Ardell Mees, who provided installation services to grocery decor design companies. As our reputation for excellent workmanship has grown, we have expanded our operations to serve a larger geographic region. On January 4, 2001, we incorporated in North Dakota as ADM Enterprises, Inc. On May 9, 2006, the Company changed both its name to ADM Endeavors and its domicile to the state of Nevada. On July 1, 2008, the Company acquired all of the assets of ADM Enterprises, LLC, a sole proprietorship owned by Ardell and Tammera Mees, in exchange for 10,000,000 newly issued shares of our common stock. As a result, ADM Enterprises, LLC became a wholly owned subsidiary of Company. Even though the Company was incorporated on January 4, 2001, it had no operations until the share exchange agreement with ADM Enterprises, LLC on July 1, 2008. All business operations are those solely of the Company’s wholly owned subsidiary ADM Enterprises, LLC. | |
In May of 2013, the Company amended its Articles of Incorporation to provide for an increase in its’ authorized share capital. The authorized common stock increased to 800,000,000 shares at a par value of $0.001 per share and preferred stock increased to 80,000,000 at a par value of $0.001 per share. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | NOTE 2 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of presentation | |
The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |
It is management's opinion, however, that all material adjustments (consisting of normal and recurring adjustments) have been made which are necessary for a fair financial statements presentation. | |
Principles of Consolidation | |
The accompanying consolidated financial statements include all of the accounts of the Company and its wholly-owned subsidiary AMD Enterprises, LLC as of December 31, 2014 and December 31, 2013 for the periods then ended. All intercompany balances and transactions have been eliminated. | |
Going Concern | |
The Company has generated limited profits and may experience losses in the near term. We will be dependent on sales of our equity securities and debt financing to meet our cash requirements for the future proposed expansion of operations. As of December 31, 2014, we had an accumulated deficit of $12,837,124. The Company needs to maintain a steady operating structure, ensuring that expenses are contained such that profits are consistently achieved. In order to expand the Company’s business, the Company would likely require additional financing. Management of the Company must continually develop and refine its strategies and goals in order to execute the business plan of the Company on a broad scale and expand the business. | |
Use of estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Accordingly, actual results could differ from those estimates. Such estimates include management’s assessments of the carrying value of certain assets, useful lives of assets, and related depreciation and amortization methods applied. | |
Cash equivalents | |
The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. At December 31, 2014 and December 31, 2013, the Company had no cash equivalents. | |
Fair value of financial instruments | |
The Company adopted the provisions of FASB ASC 820 (the “Fair Value Topic”) which defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. | |
The Fair Value Topic defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. It also establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels. | |
The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: | |
A) Market approach—Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Prices may be indicated by pricing guides, sale transactions, market trades, or other sources; | |
B) Cost approach—Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost); and | |
C) Income approach—Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about the future amounts (includes present value techniques, and option-pricing models). Net present value is an income approach where a stream of expected cash flows is discounted at an appropriate market interest rate. | |
Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. An active market for an asset or liability is a market in which transactions for the asset or liability occur with significant frequency and volume to provide pricing information on an ongoing basis. | |
Level 2: Observable inputs other than Level 1 inputs. Example of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. | |
Level 3: Unobservable inputs based on the Company’s assessment of the assumptions that are market participants would use in pricing the asset or liability. | |
The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses, accounts payable, accrued expenses, and deferred revenue approximate their fair value because of the short maturity of those instruments. The Company’s note payable approximate the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2014 and December 31, 2013 and 2012. | |
The Company had no assets and/or liabilities measured at fair value on a recurring basis at December 31, 2014 and December 31, 2013, respectively, using the market and income approaches. | |
Property and Equipment | |
Property and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method over the assets estimated useful life of three (3) years for equipment, (5) years for automobile, and (7) years for furniture and fixtures. Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in statements of operations. | |
Impairment of long-lived assets | |
The Company follows paragraph 360-10-05-4 of the FASB Accounting Standards Codification for its long-lived assets. The Company’s long-lived assets, such as intellectual property, are required to be reviewed for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. | |
The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. | |
The Company determined that there were no impairments of long-lived assets as of December 31, 2014 and December 31, 2013. | |
Commitments and contingencies | |
The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. | |
Revenue recognition | |
The Company follows paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. In addition, the Company records allowances for accounts receivable that are estimated to not be collected. | |
Stock-Based Compensation | |
In December 2004, the FASB issued FASB Accounting Standards Codification No. 718, Compensation – Stock Compensation. Under FASB Accounting Standards Codification No. 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share | |
appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant | |
at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. The Company applies this statement prospectively. | |
Equity instruments (“instruments”) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by FASB Accounting Standards Codification No. 718. FASB Accounting Standards Codification No. 505,Equity Based Payments to Non-Employees defines the measurement date and recognition period for such instruments. In general, the measurement date is when either a (a) performance commitment, as defined, is reached or (b) the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the FASB Accounting Standards Codification. | |
Net income (loss) per share | |
The Company computes basic and diluted earnings per share amounts pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic earnings per share is computed by dividing net income (loss) available to common shareholders, by the weighted average number of shares of common stock outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted earnings per share is computed by dividing net income (loss) available to common shareholders by the diluted weighted average number of shares of common stock during the period. The diluted weighted average number of common shares outstanding is the basic weighted number of shares adjusted as of the first day of the year for any potentially diluted debt or equity. | |
There were potentially no dilutive shares outstanding as of December 31, 2014 and December 31, 2013. | |
Subsequent events | |
The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. | |
Recently issued accounting pronouncements | |
We have decided to take advantage of the exemptions provided to emerging growth companies under the JOBS Act and as a result our financial statements may not be comparable to companies that comply with public company effective dates. We may take advantage of exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, delay compliance with new or revised accounting standards that have different effective dates for public and private companies until they are made applicable to private companies. | |
Company management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements. | |
Reliance on Key Personnel and Consultants | |
The Company is heavily dependent on the continued active participation of their current executive officers, employees and key personnel. The loss of any of the senior management or key employees could significantly and negatively impact the business until adequate replacements can be identified and put in place. |
Note_3_Share_Exchange_Agreemen
Note 3 - Share Exchange Agreement | 12 Months Ended |
Dec. 31, 2014 | |
Notes | |
Note 3 - Share Exchange Agreement | NOTE 3 – SHARE EXCHANGE AGREEMENT |
On July 1, 2008 the Company executed a share exchange agreement with ADM Enterprises LLC whereby the Company acquired all of the outstanding stock of ADM Enterprises LLC for 10,000,000 newly issued shares of the Company’s common stock. As a result, ADM Enterprises LLC became a wholly owned subsidiary of the Company. | |
The Company shares the same officers, Ardell Mees and Tammera Mees, with ADM Enterprises LLC. Since the share exchange agreement was between related parties, there was no goodwill or excess consideration recorded. |
Note_4_Property_and_Equipment
Note 4 - Property and Equipment | 12 Months Ended | ||
Dec. 31, 2014 | |||
Notes | |||
Note 4 - Property and Equipment | NOTE 4 – PROPERTY AND EQUIPMENT | ||
Fixed assets, stated at cost, less accumulated depreciation at December 31, 2014 and December 31, 2013, consisted of the following: | |||
31-Dec-14 | 31-Dec-13 | ||
Equipment | $14,825 | $14,825 | |
Automobile | 89,125 | 54,100 | |
Less: Accumulated Depreciation | -75,181 | -65,857 | |
Property and Equipment, net | $28,769 | $3,068 | |
Depreciation expense | |||
Depreciation expense for the years ended December 31, 2014 and 2013 was $9,324 and $919, respectively. |
Note_5_Note_Payable
Note 5 - Note Payable | 12 Months Ended |
Dec. 31, 2014 | |
Notes | |
Note 5 - Note Payable | NOTE 5 – NOTE PAYABLE |
On March 3, 2014, the Company purchased a 2010 RV Heartland Road Warrior to use for projects that require management to work extended stays on location. The Company paid $5,000 as a down payment and financed $30,015 with 4.122% APR due on March 10, 2021. The loan calls for monthly payments of $412. | |
As of December 31, 2014, the Company has a note payable balance of $27,204. |
Note_6_Related_Party_Transacti
Note 6 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Notes | |
Note 6 - Related Party Transactions | NOTE 6 – RELATED PARTY TRANSACTIONS |
Free office space provided by chief executive officer | |
The Company has been provided office space by its chief executive officer Ardell Mees at no cost. Management has determined that such cost is nominal and did not recognize the rent expense in its financial statements. | |
Share exchange agreement | |
On July 1, 2008 the Company executed a share exchange agreement with ADM Enterprises LLC whereby the Company acquired all of the outstanding stock of ADM Enterprises LLC for 10,000,000 newly issued shares of the Company’s common stock. As a result, ADM Enterprises LLC became a wholly owned subsidiary of the Company. The Company shares the same officers, Ardell Mees and Tammera Mees, with ADM Enterprises LLC. Since the share exchange agreement was between related parties, there was no goodwill or excess consideration recorded. | |
Employment Agreement | |
On January 3, 2013, the Company executed a 2 year employment agreement with Ardell D. Mees, the Company’s Chief Executive Officer and Chief Financial Officer. As compensation for services, Mr. Mees is to receive an annual base salary of $72,000. For the years ended December 31, 2014 and 2013 the Company accrued $72,000 in compensation expense to Mr. Mees in officer compensation. In the years ended December 31, 2014 and 2013, the Company made cash payments to Mr. Mees against his accrued salary in the amounts of $89,838 and $47,547. |
Note_7_Stockholders_Equity
Note 7 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2014 | |
Notes | |
Note 7 - Stockholders' Equity | NOTE 7 – STOCKHOLDERS’ EQUITY |
Common and preferred shares authorized | |
The Company was incorporated on January 4, 2001, at which time the Company authorized 300,000,000 shares of common Stock with $0.001 par value and 30,000,000 shares of preferred Stock with $0.001 par value. | |
In May of 2013, the Company amended its Articles of Incorporation to provide for an increase in its’ authorized share capital. The authorized common stock increased to 800,000,000 shares at a par value of $0.001 per share and preferred stock increased to 80,000,000 at a par value of $0.001 per share. | |
On June 5, 2013, the Company designated 80,000,000 preferred shares as Series A Convertible Preferred Stock which has the voting power equal to 100 common shares per each share of preferred stock. Each Series A Convertible Preferred Stock is convertible into 10 common shares at any time by the holder. | |
Preferred shares issued | |
On June 10, 2013, the Company issued 20,000,000 Series A Convertible Preferred Shares to its CEO, Ardell Mees, for executive services performed on behalf of the Company. On September 20, 2013, the Company canceled the 20,000,000 preferred shares to Ardell Mees. The Board of Director’s believes it is in the Company’s best interest to cancel the 20,000,000 preferred shares because they would substantially dilute the market value of the Company’s stock if converted to common shares. | |
Common shares issued | |
On June 7, 2013, the Company issued 2,250,000 shares to a Calvin Mees, a related party consultant, for various services performed which include the development of a business plan for the expansion of the Company’s operations, preparation of news releases, investor affairs, and other business related services. The shares were valued at $0.001 per share which resulted in the Company recording a consulting expense of $2,250. The consulting services provided were completed by June 30, 2013. The consultant is a related party to the Company as he is the brother of Ardell, Mees, the Company’s CEO. The Company has had no recent sales of stock for cash nor has the Company had an independent valuation of the Company’s stock price. Therefore, management valued the shares at par value $0.001. | |
The Company did not issue any new shares of common stock in the year ended December 31, 2014. |
Note_8_Subsequent_Events
Note 8 - Subsequent Events | 12 Months Ended |
Dec. 31, 2014 | |
Notes | |
Note 8 - Subsequent Events | NOTE 8 – SUBSEQUENT EVENTS |
Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that other than listed below, no material subsequent events exist. | |
1. On January 3, 2015, the Company renewed its employment agreement with its chief executive officer Ardell Mees for another two years. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Policies | |
Basis of Presentation | Basis of presentation |
The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |
It is management's opinion, however, that all material adjustments (consisting of normal and recurring adjustments) have been made which are necessary for a fair financial statements presentation. | |
Principles of Consolidation | Principles of Consolidation |
The accompanying consolidated financial statements include all of the accounts of the Company and its wholly-owned subsidiary AMD Enterprises, LLC as of December 31, 2014 and December 31, 2013 for the periods then ended. All intercompany balances and transactions have been eliminated. | |
Going Concern | Going Concern |
The Company has generated limited profits and may experience losses in the near term. We will be dependent on sales of our equity securities and debt financing to meet our cash requirements for the future proposed expansion of operations. As of December 31, 2014, we had an accumulated deficit of $12,837,124. The Company needs to maintain a steady operating structure, ensuring that expenses are contained such that profits are consistently achieved. In order to expand the Company’s business, the Company would likely require additional financing. Management of the Company must continually develop and refine its strategies and goals in order to execute the business plan of the Company on a broad scale and expand the business. | |
Use of Estimates | Use of estimates |
The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Accordingly, actual results could differ from those estimates. Such estimates include management’s assessments of the carrying value of certain assets, useful lives of assets, and related depreciation and amortization methods applied. | |
Cash Equivalents | Cash equivalents |
The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. At December 31, 2014 and December 31, 2013, the Company had no cash equivalents. | |
Fair Value of Financial Instruments | Fair value of financial instruments |
The Company adopted the provisions of FASB ASC 820 (the “Fair Value Topic”) which defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. | |
The Fair Value Topic defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. It also establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels. | |
The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: | |
A) Market approach—Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Prices may be indicated by pricing guides, sale transactions, market trades, or other sources; | |
B) Cost approach—Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost); and | |
C) Income approach—Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about the future amounts (includes present value techniques, and option-pricing models). Net present value is an income approach where a stream of expected cash flows is discounted at an appropriate market interest rate. | |
Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. An active market for an asset or liability is a market in which transactions for the asset or liability occur with significant frequency and volume to provide pricing information on an ongoing basis. | |
Level 2: Observable inputs other than Level 1 inputs. Example of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. | |
Level 3: Unobservable inputs based on the Company’s assessment of the assumptions that are market participants would use in pricing the asset or liability. | |
The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses, accounts payable, accrued expenses, and deferred revenue approximate their fair value because of the short maturity of those instruments. The Company’s note payable approximate the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2014 and December 31, 2013 and 2012. | |
The Company had no assets and/or liabilities measured at fair value on a recurring basis at December 31, 2014 and December 31, 2013, respectively, using the market and income approaches. | |
Property and Equipment | Property and Equipment |
Property and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method over the assets estimated useful life of three (3) years for equipment, (5) years for automobile, and (7) years for furniture and fixtures. Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in statements of operations. | |
Impairment of Long-lived Assets | Impairment of long-lived assets |
The Company follows paragraph 360-10-05-4 of the FASB Accounting Standards Codification for its long-lived assets. The Company’s long-lived assets, such as intellectual property, are required to be reviewed for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. | |
The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. | |
The Company determined that there were no impairments of long-lived assets as of December 31, 2014 and December 31, 2013. | |
Commitments and Contingencies | Commitments and contingencies |
The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. | |
Revenue Recognition | Revenue recognition |
The Company follows paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. In addition, the Company records allowances for accounts receivable that are estimated to not be collected. | |
Stock-based Compensation | Stock-Based Compensation |
In December 2004, the FASB issued FASB Accounting Standards Codification No. 718, Compensation – Stock Compensation. Under FASB Accounting Standards Codification No. 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share | |
appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant | |
at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. The Company applies this statement prospectively. | |
Equity instruments (“instruments”) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by FASB Accounting Standards Codification No. 718. FASB Accounting Standards Codification No. 505,Equity Based Payments to Non-Employees defines the measurement date and recognition period for such instruments. In general, the measurement date is when either a (a) performance commitment, as defined, is reached or (b) the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the FASB Accounting Standards Codification. | |
Net Income (loss) Per Share | Net income (loss) per share |
The Company computes basic and diluted earnings per share amounts pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic earnings per share is computed by dividing net income (loss) available to common shareholders, by the weighted average number of shares of common stock outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted earnings per share is computed by dividing net income (loss) available to common shareholders by the diluted weighted average number of shares of common stock during the period. The diluted weighted average number of common shares outstanding is the basic weighted number of shares adjusted as of the first day of the year for any potentially diluted debt or equity. | |
There were potentially no dilutive shares outstanding as of December 31, 2014 and December 31, 2013. | |
Subsequent Events | Subsequent events |
The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. | |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements |
We have decided to take advantage of the exemptions provided to emerging growth companies under the JOBS Act and as a result our financial statements may not be comparable to companies that comply with public company effective dates. We may take advantage of exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, delay compliance with new or revised accounting standards that have different effective dates for public and private companies until they are made applicable to private companies. | |
Company management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements. | |
Reliance On Key Personnel and Consultants | Reliance on Key Personnel and Consultants |
The Company is heavily dependent on the continued active participation of their current executive officers, employees and key personnel. The loss of any of the senior management or key employees could significantly and negatively impact the business until adequate replacements can be identified and put in place. |
Note_4_Property_and_Equipment_
Note 4 - Property and Equipment: Schedule of Property and Equipment (Tables) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Tables/Schedules | |||
Schedule of Property and Equipment | Fixed assets, stated at cost, less accumulated depreciation at December 31, 2014 and December 31, 2013, consisted of the following: | ||
31-Dec-14 | 31-Dec-13 | ||
Equipment | $14,825 | $14,825 | |
Automobile | 89,125 | 54,100 | |
Less: Accumulated Depreciation | -75,181 | -65,857 | |
Property and Equipment, net | $28,769 | $3,068 |
Note_1_Organization_and_Descri1
Note 1 - Organization and Description of Business (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2008 | Dec. 31, 2013 | 1-May-13 | Jan. 04, 2001 | |
Details | |||||
Shares issued for assets acquired | 10,000,000 | ||||
Entity Incorporation, Date of Incorporation | 4-Jan-01 | ||||
Common Stock, shares authorized | 800,000,000 | 800,000,000 | 800,000,000 | 300,000,000 | |
Common Stock, par value | $0.00 | $0.00 | $0.00 | $0.00 | |
Preferred Stock, shares authorized | 80,000,000 | 80,000,000 | 80,000,000 | 30,000,000 | |
Preferred Stock, par value | $0.00 | $0.00 | $0.00 | $0.00 |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies: Going Concern (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Details | ||
Accumulated Deficit | $12,837,124 | $12,815,588 |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies: Cash Equivalents (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Details | ||
Cash Equivalents | $0 | $0 |
Note_2_Summary_of_Significant_4
Note 2 - Summary of Significant Accounting Policies: Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Equipment | |
Property, Plant and Equipment, Useful Life | 3 years |
Automobile | |
Property, Plant and Equipment, Useful Life | 5 years |
Furniture And Fixtures | |
Property, Plant and Equipment, Useful Life | 7 years |
Note_2_Summary_of_Significant_5
Note 2 - Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Details | ||
Impairment of Long-Lived Assets | $0 | $0 |
Note_2_Summary_of_Significant_6
Note 2 - Summary of Significant Accounting Policies: Net Income (loss) Per Share (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Details | ||
Potential dilutive shares outstanding | 0 | 0 |
Note_3_Share_Exchange_Agreemen1
Note 3 - Share Exchange Agreement (Details) | 12 Months Ended |
Dec. 31, 2008 | |
Details | |
Shares issued for assets acquired | 10,000,000 |
Note_4_Property_and_Equipment_1
Note 4 - Property and Equipment: Schedule of Property and Equipment (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Less: Accumulated Depreciation | ($75,181) | ($65,857) |
Property and Equipment, net | 28,769 | 3,068 |
Equipment | ||
Property, Plant and Equipment, Gross | 14,825 | 14,825 |
Automobile | ||
Property, Plant and Equipment, Gross | $89,125 | $54,100 |
Note_4_Property_and_Equipment_2
Note 4 - Property and Equipment (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Details | ||
Depreciation | $9,324 | $919 |
Note_6_Related_Party_Transacti1
Note 6 - Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Jan. 03, 2013 | |
Accrued Salary | $126,198 | $144,035 | |
Cash payments made against accrued salary | 89,838 | 47,547 | |
Ardell D. Mees | |||
Annual base salary | 72,000 | ||
Accrued Salary | $72,000 | $72,000 |
Note_7_Stockholders_Equity_Det
Note 7 - Stockholders' Equity (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2014 | 1-May-13 | Jan. 04, 2001 | |
Common Stock, shares authorized | 800,000,000 | 800,000,000 | 800,000,000 | 300,000,000 | ||
Common Stock, par value | $0.00 | $0.00 | $0.00 | $0.00 | ||
Preferred Stock, shares authorized | 80,000,000 | 80,000,000 | 80,000,000 | 30,000,000 | ||
Preferred Stock, par value | $0.00 | $0.00 | $0.00 | $0.00 | ||
Preferred Stock, Conversion Basis | the Company designated 80,000,000 preferred shares as Series A Convertible Preferred Stock which has the voting power equal to 100 common shares per each share of preferred stock. Each Series A Convertible Preferred Stock is convertible into 10 common shares at any time by the holder. | |||||
Common stock issued for services | $2,250 | |||||
Calvin Mees | ||||||
Stock issued for services, Shares | 2,250,000 | |||||
Equity Issuance, Per Share Amount | $0.00 | |||||
Common stock issued for services | $2,250 | |||||
Preferred Stock | ||||||
Stock issued for services, Shares | 20,000,000 | |||||
Stock cancelled, shares | -20,000,000 | |||||
Preferred Stock | Ardell D. Mees | ||||||
Stock issued for services, Shares | 20,000,000 | |||||
Stock cancelled, shares | 20,000,000 |