DKG Capital (DKGH) 10-Q/A 19 Aug 15 2015 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 18, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	true
Document Period End Date	Jun. 30, 2015
Entity Registrant Name	RERAISE GAMING CORPORATION
Entity Central Index Key	1,592,411
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		17,326,000
Amendment Description	This Amendment No. 1 on Form 10-Q/A (this “Amendment”) amends the Quarterly Report of Reraise Gaming Corporation (the “Company”) on Form 10-Q, for the quarterly period ended June 30, 2015 (the “Form 10-Q”), filed with the Securities and Exchange Commission on August 14, 2015 (the “Original Filing Date”). The purpose of this Amendment is solely to furnish certain exhibits to the Form 10-Q in accordance with Rule 405 of Regulation S-T, which were inadvertently omitted in the Form 10-Q filed on the Original Filing Date. Exhibit 101 consists of the following materials from the Company’s Form 10-Q, formatted in XBRL (eXtensible Business Reporting Language):101.INS XBRL Instance Document 101.SCH XBRL Taxonomy Schema 101.CAL XBRL Taxonomy Calculation Linkbase 101.DEF XBRL Taxonomy Definition Linkbase 101.LAB XBRL Taxonomy Label Linkbase 101.PRE XBRL Taxonomy Presentation Linkbase No other changes have been made to the Form 10-Q. This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way disclosures made in the Form 10-Q.

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash	$ 41,387	$ 21,113
Total current assets	41,387	21,113
Intangible asset, less accumulated amortization of $2,126 and $1,592 respectively	4,274	5,341
Total assets	45,661	26,454
Current liabilities
Accounts payable and accrued liabilities	1,250	2,477
Loan payable - related party	30,000	30,000
Note payable	25,000	25,000
Note payable - related party	26,500	1,500
Total current liabilities	82,750	58,977
Stockholders' deficit
Common stock, 100,000,000 shares authorized, at $0.001 par value, 17,376,000 and 17,271,000 shares outstanding, respectively	17,376	17,272
Additional paid in capital	2,682,624	2,630,228
Accumulated deficit	(2,737,089)	(2,680,023)
Total stockholders' deficit	(37,089)	(32,523)
Total liabilities and stockholders' deficit	$ 45,661	$ 26,454

Condensed Balance Sheets(Parent

Condensed Balance Sheets(Parenthetical) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Condensed Balance Sheets [Abstract]
Intangible Assets, accumulated amortization	$ 2,126	$ 1,592
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, par value per share	$ 0.001	$ 0.001
Common Stock, shares outstanding	17,376,000	17,271,000

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenue
Operating expenses
General and administrative	$ 17,765	$ 273,267	$ 56,543	$ 2,418,355
Professional fees		2,803		4,653
Total operating expenses	$ 17,765	276,070	$ 56,543	2,423,008
Loss from operations	(17,765)	$ (276,070)	(56,543)	$ (2,423,008)
Other expenses
Interest expense	831		523
Total other expenses	831		523
Loss before provision for income taxes	(18,596)	$ (276,070)	(57,066)	$ (2,423,008)
Net loss	$ (18,596)	$ (276,070)	$ (57,066)	$ (2,423,008)
Basic and diluted loss per share	$ 0	$ (0.02)	$ 0	$ (0.15)
Weighted average shares outstanding Basic and diluted	17,334,333	14,713,000	17,328,597	15,811,884

Condensed Statements of Cash Fl

Condensed Statements of Cash Flow - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net (loss)	$ (57,066)	$ (2,423,008)
Adjustments to reconcile net loss to cash used in operating activities
Stock based compensation	27,500	2,393,750
Amortization	1,067	$ 465
Change in assets and liabilities-
Decrease in accounts payable and accruals	(1,227)
Net cash used in operating activities	$ (29,726)	$ (28,793)
Cash flows from investing activities
Acquisition of interactive web site		(5,600)
Net cash used in investing activities		$ (5,600)
Cash flows from financing activities
Loan from related party	$ 25,000
Proceeds from note payable		$ 25,096
Common stock issued for cash	$ 25,000	5,000
Net cash provided by financing activities	50,000	30,096
Increase (Decrease) in Cash	20,274	(4,297)
Cash, beginning	21,113	33,655
Cash, ending	$ 41,387	$ 29,358
Cash paid:
Interest
Income taxes

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	6 Months Ended
	Jun. 30, 2015
ORGANIZATION AND OPERATIONS [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 June 30, 2015 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	6 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT 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 year ended December 31, 2014 contained in the Company's Form S 1/A amendment 5 originally filed with the Securities and Exchange Commission on March 24, 2015. 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. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates. Cash and Cash Equivalents For purposes of the statements of cash flows, cash equivalents include all highly liquid investments with original maturities of three months or less which are not securing any corporate obligations. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. 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 grant.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2015
GOING CONCERN [Abstract]
GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying 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 June 30, 2015 of $ 2,737,089 he 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	6 Months Ended
	Jun. 30, 2015
COMMITMENT [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 paid a signing bonus of $ 10,000 1,000 24 1,000,000 500

NOTE PAYABLE

NOTE PAYABLE	6 Months Ended
	Jun. 30, 2015
NOTE PAYABLE [Abstract]
NOTE PAYABLE	NOTE 5 – NOTE PAYABLE On June 2, 2014 the Company borrowed $ 25,000 5 26,250 2,000,000

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	6 Months Ended
	Jun. 30, 2015
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6 - STOCKHOLDERS' EQUITY On January 7, 2015 the Company issued 55,000 two 27,500 On June 15, 2015 the issued 50,000 0.50 25,000

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS Between December 3, 2013 and January 29, 2014 a related party made cash advances totaling $ 30,000 On June 8, 2015 the Company borrowed $ 25,000 July 8, 2015 2 1,500

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS The related party note of $ 25,000 July 8, 2015 one July 8, 2016

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	6 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT 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 year ended December 31, 2014 contained in the Company's Form S 1/A amendment 5 originally filed with the Securities and Exchange Commission on March 24, 2015. 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.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statements of cash flows, cash equivalents include all highly liquid investments with original maturities of three months or less which are not securing any corporate obligations. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.
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 grant.

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
GOING CONCERN [Abstract]
Accumulated deficit	$ (2,737,089)	$ (2,680,023)

COMMITMENT (Details)

COMMITMENT (Details) - USD ($)	May. 21, 2014	Jun. 30, 2015
COMMITMENT [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

NOTE PAYABLE (Details)

NOTE PAYABLE (Details) - Notes Payable to Banks [Member] - USD ($)	Jun. 01, 2015	Jun. 02, 2014
Short-term Debt [Line Items]
Amount borrowed		$ 25,000
Interest rate		5.00%
Amount of note to be repayable	$ 26,250
Minimum [Member]
Short-term Debt [Line Items]
Note secured against number of shares		2,000,000

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details)	Jun. 15, 2015USD ($)$ / sharesshares	Jan. 07, 2015itemshares	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation | $			$ 27,500	$ 2,393,750
Restricted stock [Member] | Two consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued for services, shares		55,000
Number of consultants to whom shares issued for services | item		2
Restricted stock [Member] | Investor [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued	50,000
Share price (in dollars per share) | $ / shares	$ 0.50
Value of share issued | $	$ 25,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jun. 08, 2015	Jan. 29, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Loan from related party			$ 25,000
Related Party [Member]
Related Party Transaction [Line Items]
Loan from related party	$ 25,000	$ 30,000
Maturity date	Jul. 8, 2015
Interest rate	2.00%
Additional borrowed amount			$ 1,500

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Jul. 08, 2015	Jun. 08, 2015	Jun. 30, 2015	Dec. 31, 2014
Subsequent Event [Line Items]
Related party note			$ 25,000	$ 25,000
Related Party [Member]
Subsequent Event [Line Items]
Maturity date		Jul. 8, 2015
Subsequent Event [Member] | Related Party [Member]
Subsequent Event [Line Items]
Maturity date	Jul. 8, 2016
Payment term	The related party note of $ 25,000 July 8, 2015
Maturity period	1 year