DKG Capital (DKGH) 10-Q 22 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 22, 2016
Document And Entity Information
Entity Registrant Name	RERAISE GAMING CORPORATION
Entity Central Index Key	1,592,411
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
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 Common Stock, Shares Outstanding		17,376,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

Balance Sheets - Unaudited

Balance Sheets - Unaudited - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash	$ 4,386	$ 11,651
Related party receivable		1,351
Total current assets	4,386	13,002
Long term assets
Intangible asset, less accumulated amortization of $4,259 and $3,192 respectively	2,141	3,208
Total long term assets	2,141	3,208
Total assets	6,527	16,210
Current liabilities
Accounts payable and accrued liabilities	4,000	9,158
Loan payable - related party		30,000
Notes payable - related parties		50,000
Total current liabilities	4,000	89,158
Stockholders' equity (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	2,776,138	2,682,623
Accumulated deficit	(2,790,987)	(2,772,947)
Total stockholders' equity (deficit)	2,527	(72,948)
Total liabilities and stockholders' deficit	$ 6,527	$ 16,210

Balance Sheets - Unaudited (Par

Balance Sheets - Unaudited (Parenthetical) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Intangible Assets, accumulated amortization	$ 4,259	$ 3,192
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	17,376,000

Statements of Operations - Unau

Statements of Operations - Unaudited - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenue
Operating expenses
General and administrative	10,167	17,765	17,540	56,543
Total operating expenses	10,167	17,765	17,540	56,543
Loss from operations	(10,167)	(17,765)	(17,540)	(56,543)
Other expenses
Interest expense		(831)	(500)	(523)
Total other expenses		(831)	(500)	(523)
Net loss	$ (10,167)	$ (18,596)	$ (18,040)	$ (57,066)
Basic and diluted net loss per common share	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding Basic and diluted	17,376,000	17,334,333	17,376,000	17,328,597

Statements of Cash Flows - Unau

Statements of Cash Flows - Unaudited - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flow from operating activities
Net loss	$ (18,040)	$ (57,066)
Adjustment to reconcile net loss to cash used in operating activities
Stock based compensation		27,500
Amortization	1,067	1,067
Change in assets and liabilities-
Increase (decrease) in accounts payables and accruals	498	(1,227)
Net cash used in operating activities	(16,497)	(29,726)
Cash flows from financing activities
Net proceeds from note payable - related party	9,210
Loan from former related party		25,000
Common stock issued for cash		25,000
Net cash provided by financing activities	9,210	50,000
(Decrease) increase in cash	(7,265)	20,274
Cash, beginning	11,651	21,113
Cash, ending	4,386	41,387
Cash paid:
Interest
Income taxes
Non-cash financing and investing activities
Former related party notes and payables forgiven	$ 93,515

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	NOTE 1 - ORGANIZATION AND OPERATIONS Reraise Gaming Corporation (Reraise), (the “Company”) located in Las Vegas, Nevada, was incorporated on October 2, 2013, in the State of Nevada. As of June 30, 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. Our former director Mr. Ron Camacho resigned as President and Chief Executive Officer, Secretary and Treasurer of our Company on July 8, 2016 and Mr. Andy Kim was appointed as President and Chief Executive Officer, Secretary and Treasurer on the same date. Mr. Kim expressed that he will end the development and distribution of poker game and will shift focus to develop the binary option software, a financial software for the trading of binary option. A binary option, or asset-or-nothing option, is type of option in which the payoff is structured to be either a fixed amount of compensation if the option expires in the money, or nothing at all if the option expires out of the money. The success of a binary option is thus based on a yes or no proposition, hence “binary”. Our detailed plan of operation consists of developing the software, applying for patents and trademarks, apply for international patents and trademarks and market the software to the binary option industry.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 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 the Company 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	6 Months Ended
	Jun. 30, 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. The Company has been engaged substantially in financing activities and developing its business plan and marketing. As a result, the Company incurred an accumulated deficit of $2,790,987. As of June 30, 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	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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 $1,067 and $1,067 for the six months ended June 30, 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	6 Months Ended
	Jun. 30, 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 former 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. Pursuant to a loan waiver letter dated June 30, 2016, the entire balance forgiven was during the period. On June 2, 2014 the Company borrowed $25,000 from a former 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. Pursuant to a loan waiver letter dated June 30, 2016, the entire balance was forgiven during the period On June 8, 2015 the Company borrowed $25,000 from a former 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. Pursuant to a loan waiver letter dated June 30, 2016, the entire balance was forgiven during the period. On May 18, 2016, the Company borrowed $10,000 from a former related party and $790 was paid back on June 30, 2016. Pursuant to a loan waiver letter dated June 30, 2016, the entire remaining balance of $9,210 was forgiven during the period On June 30, 2016, $93,515 was the total of the above former related party loan, notes payable and accrued interest which was waived. Since this transaction was with a related party the write-off of the debt was recorded as additional paid in capital.

RELATED PARTY RECEIVABLE

RELATED PARTY RECEIVABLE	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
RELATED PARTY RECEIVABLE	NOTE 7 – RELATED PARTY RECEIVABLE As of March 31, 2016, the Company has an outstanding advance to the former 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. Pursuant to a waiver letter dated June 30, 2016, the entire balance was forgiven by the Company during the period 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS On July 20, 2016, the Company filed a certificate of amendment to the articles of incorporation with the Nevada Secretary of State to change the name to “Star Ally Inc.” As of the filing of this report the name change has not been approved by FINRA. On July 8, 2016, the Company’s original officer and director, Ron Camacho resigned and was replaced by Andy Kim.

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim financial statements of the Company 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 (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
GOING CONCERN [Abstract]
Accumulated net losses	$ 2,790,987	$ 2,772,947

COMMITMENT (Details Narrative)

COMMITMENT (Details Narrative)	May 21, 2014USD ($)
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

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	6 Months Ended		8 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Sep. 01, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Website development costs	$ 1,067	$ 1,067	$ 6,400

RELATED PARTY LOANS AND NOTES18

RELATED PARTY LOANS AND NOTES PAYABLE (Details Narrative) - USD ($)	May 18, 2016	Aug. 14, 2015	Jul. 08, 2015	Jun. 02, 2014	Jul. 08, 2016	Jun. 30, 2016	Dec. 31, 2013	Jun. 08, 2015
Related Party Transaction [Line Items]
Amount of note to be repayable						$ 9,210
Loan paid						$ 93,515
Related Party [Member]
Related Party Transaction [Line Items]
Loan from related party	$ 10,000		$ 25,000
Amount borrowed				$ 25,000
Interest rate				5.00%	10.00%			2.00%
Amount of note to be repayable	$ 790	$ 26,322	$ 25,042	$ 26,250	$ 25,682
Accrued interest		$ 1,322
Maturity date		Jul. 8, 2016	Jul. 8, 2015
Related Party [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Note secured against number of shares				2,000,000
Former Officer and Director [Member]
Related Party Transaction [Line Items]
Accrued expense for service received							$ 30,000

RELATED PARTY RECEIVABLE (Detai

RELATED PARTY RECEIVABLE (Details Narrative) - USD ($)	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Related Party Receivable Details Narrative
Outstanding advance		$ 1,351	$ 1,351