DKG Capital (DKGH) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 04, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Entity Registrant Name	RERAISE GAMING CORPORATION
Entity Central Index Key	1,592,411
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		17,376,000

Balance Sheets - Unaudited

Balance Sheets - Unaudited - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash	$ 4,811	$ 11,651
Related party receivable	1,351	1,351
Total current assets	6,162	13,002
Long term assets
Intangible asset, less accumulated amortization of $3,725 and $3,192 respectively	2,675	3,208
Total long term assets	2,675	3,208
Total assets	8,837	16,210
Current liabilities
Accounts payable and accrued liabilities	9,658	9,158
Loan payable - related party	30,000	30,000
Note payable - related party	50,000	50,000
Total current liabilities	89,658	89,158
Stockholders' deficit
Common stock, 100,000,000 shares authorized, at $0.001 par value, 17,376,000 and 17,376,000 shares outstanding, respectively	17,376	17,376
Additional paid in capital	2,682,623	2,682,623
Accumulated deficit	(2,780,820)	(2,772,947)
Total stockholders' deficit	(80,821)	(72,948)
Total liabilities and stockholders' deficit	$ 8,837	$ 16,210

Balance Sheets - Unaudited (Par

Balance Sheets - Unaudited (Parenthetical) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Intangible Assets, accumulated amortization	$ 3,725	$ 3,192
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, par value per share	$ .001	$ .001
Common Stock, shares outstanding	17,376,000	17,376,000

Statements of Operations - Unau

Statements of Operations - Unaudited - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue
Operating expenses
General and administrative	$ 7,373	$ 11,278
Product endorsement		27,500
Total operating expenses	$ 7,373	38,778
Loss from operations	(7,373)	(38,778)
Other expenses
Interest expense	(500)	(308)
Total other expenses	(500)	(308)
Loss before provision for income taxes	(7,873)	(39,086)
Net loss	$ (7,873)	$ (39,086)
Basic and diluted loss per share	$ 0	$ 0
Weighted average shares outstanding Basic and diluted	17,376,000	17,322,333

Statements of Cash Flow - Unaud

Statements of Cash Flow - Unaudited - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities
Net (loss)	$ (7,873)	$ (39,086)
Adjustments to reconcile net loss to cash used in operating activities
Common stock issued for services		27,500
Amortization	$ 533	533
Change in assets and liabilities-
Increase (decrease) in accounts payable and accrued liabilities	500	(1,443)
Net cash used in operating activities	(6,840)	(12,496)
Decrease in cash	(6,840)	(12,496)
Cash, beginning	11,651	21,113
Cash, ending	$ 4,811	$ 8,617
Cash paid:
Interest
Income taxes

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	NOTE 1 - ORGANIZATION AND OPERATIONS Reraise Gaming Corporation (Reraise) located in Las Vegas, Nevada, was incorporated on October 2, 2013, in the State of Nevada. As of March 31, 2016 the Company has acquired a variety of poker games, some with patents and some with patents pending, in addition to those we are developing. Each of the games has been acquired or is being developed for different segments of the poker market, namely video poker, brick and mortar, as well as online poker. Several of the games are available on line, at no charge, to test their viability.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements of Reraise Gaming Corporation have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto for the years ended December 31, 2015 and 2014, contained in the Company's Form 10K, originally filed with the Securities and Exchange Commission on March 30, 2016. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2016
GOING CONCERN [Abstract]
GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying interim financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. Since its inception, the Company has been engaged substantially in financing activities and developing its business plan and marketing. As a result, the Company incurred accumulated net losses from inception (October 2, 2013) through the period ended March 31, 2016 of $2,780,820. As of March 31, 2016, the Company has a working capital deficit. These conditions raise substantial doubt as to the Company's ability to continue as a going concern. The Company's development activities since inception have been financially sustained through the sale of capital stock and capital contributions from a note holder. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock or through debt financing and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

COMMITMENT

COMMITMENT	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENT	NOTE 4 - COMMITMENT On May 21, 2014 the Company entered into an agreement with Chris Moneymaker, an individual to use his name and likeness alongside a brief positive quote on the Company's website, paraphernalia or literature. In exchange, the Company will compensate Chris Moneymaker the following: ☐ $10,000 signing bonus ☐ $1,000 per month – 24 months consulting contract after we have raised $1,000,000 from the time this contract is initiated. ☐ Additional $500 per month – 24 month consulting contract for every $1,000,000 thereafter that is raised. The above consulting terms are concurrent, meaning, the 2nd contract will be added to the first contract and every other contract thereafter.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 5 – INTANGIBLE ASSETS During the year ended December 31, 2014, and as part of its marketing strategy to acquaint users with its product, the Company has undertaken to build its own interactive website. The Company capitalized website development costs of $6,400 for the period from January 1, 2014 through website launch on September 1, 2014. The Company's capitalized website amortization is included in general and administrative expenses in the Company's statements of operations, and totaled $533 and $533 for the three months ended March 31, 2016 and 2015, respectively. Intangible assets consist of the unamortized portion of capitalized website development costs.

RELATED PARTY LOANS AND NOTES P

RELATED PARTY LOANS AND NOTES PAYABLE	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
RELATED PARTY LOANS AND NOTES PAYABLE	NOTE 6 – RELATED PARTY LOANS AND NOTES PAYABLE During the year, December 31, 2013, the Company accrued expenses for $30,000 for the payment of services provided by an entity controlled by the Company's sole officer and director. The loan is non- interest bearing, unsecured and has no specific repayment terms or maturity date. As of March 31, 2016, the entire $30,000 is outstanding. On June 2, 2014 the Company borrowed $25,000 from a related party with interest of 5% repayable in one payment of $26,250, on June 1, 2015. In the event of default, the note is secured by not less than 2,000,000 shares of the Company's common stock. On August 14, 2015 the note was extended, with an additional interest charge of 5% or $1,322, the entire balance of $26,322, repayable on June 1, 2016. On June 8, 2015 the Company borrowed $25,000 from a related party with interest of 2% repayable in one payment of $25,042, on July 8, 2015. On August 14, 2015 the note was extended, under the same terms and conditions, until July 8, 2016, the entire balance of $25,682 payable in one lump sum. In the event of default, unless such default is cured within 10 days, holder has the option of charging the Company an additional 10% of the note amount.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS As of March 31, 2016, the Company has an outstanding advance to the Company's President, in the amount of $1,351. The advance was for working capital purposes. The advance has no specific repayments terms or maturity and is non-interest bearing and unsecured. The Company has been provided office space by its chief executive officer at no cost. Management has determined that such cost is nominal and has not recognized any rent expense in its financial statements.

SUMMARY OF SIGNIFICANT ACCOUN13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim financial statements of Reraise Gaming Corporation have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto for the years ended December 31, 2015 and 2014, contained in the Company's Form 10K, originally filed with the Securities and Exchange Commission on March 30, 2016. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year.
Stock-Based Compensation	Stock-Based Compensation The Company records stock-based compensation at fair value as of the date of grant and recognizes the corresponding expense over the requisite service period (usually the vesting period), utilizing the Black-Scholes option-pricing model. The volatility component of the calculation is based on the historic volatility of the Company's stock or the expected future volatility. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
GOING CONCERN [Abstract]
Accumulated net losses	$ 2,780,820	$ 2,772,947

COMMITMENT (Details)

COMMITMENT (Details) - USD ($)	May. 21, 2014	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Amount of agreement signing bonus	$ 10,000
Amount of compensation paid per month	$ 1,000
Term period of consulting contract	24 months
Amount raised from the contract initiated	$ 1,000,000
Additional amount of compensation paid per month for every $1,000,000 thereafter that is raised		$ 500

RELATED PARTY LOANS AND NOTES16

RELATED PARTY LOANS AND NOTES PAYABLE (Details) - USD ($)	Aug. 14, 2015	Jun. 08, 2015	Jun. 01, 2015	Jun. 02, 2014	Jan. 29, 2014	Sep. 30, 2015
Notes Payable to Banks [Member]
Related Party Transaction [Line Items]
Amount borrowed				$ 25,000
Interest rate				5.00%
Amount of note to be repayable			$ 26,250
Accrued interest	$ 1,322
Related Party [Member]
Related Party Transaction [Line Items]
Loan from related party		$ 25,000			$ 30,000
Interest rate		2.00%
Accrued interest	$ 542
Additional borrowed amount						$ 1,500
Maturity date	Jul. 8, 2016	Jul. 8, 2015
Minimum [Member] | Notes Payable to Banks [Member]
Related Party Transaction [Line Items]
Note secured against number of shares				2,000,000

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		8 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Sep. 01, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Website development costs of $6,400			$ 6,400
General and administrative expenses	$ 533	$ 533