Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Apr. 06, 2017 | Jun. 30, 2016 | |
Document And Entity Information | |||
Entity Registrant Name | DKG Capital Inc. | ||
Entity Central Index Key | 1,592,411 | ||
Document Type | 10-K | ||
Trading Symbol | SALYD | ||
Document Period End Date | Dec. 31, 2016 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity a Well-known Seasoned Issuer | No | ||
Entity a Voluntary Filer | No | ||
Entity's Reporting Status Current | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 192,554 | ||
Entity Common Stock, Shares Outstanding | 521,280,000 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,016 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets | ||
Cash | $ 11,651 | |
Related party advances | 1,351 | |
Total current assets | 13,002 | |
Long term assets | ||
Intangible asset, less accumulated amortization of $nil and $3,192 respectively | 3,208 | |
Total long term assets | 3,208 | |
Total assets | 0 | 16,210 |
Current liabilities | ||
Accounts payable and accrued liabilities | 8,500 | 9,158 |
Amount due to a director | 2,306 | |
Loan payable - related party | 30,000 | |
Notes payable - related parties | 50,000 | |
Total current liabilities | 10,806 | 89,158 |
Stockholders' deficit | ||
Common stock, 5,000,000,000 shares authorized, at $0.001 par value, 521,280,000 shares issued and outstanding, respectively | 521,280 | 521,280 |
Additional paid-in capital | 2,276,234 | 2,178,719 |
Accumulated deficit | (2,808,320) | (2,772,947) |
Total stockholders' deficit | (10,806) | (72,948) |
Total liabilities and stockholders' deficit | $ 0 | $ 16,210 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Intangible assets, accumulated amortization | $ 3,192 | |
Common stock, authorized | 5,000,000,000 | 5,000,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, outstanding | 521,280,000 | 521,280,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating expenses | ||
General and administrative | $ 34,873 | $ 38,838 |
Product endorsement | 27,500 | |
Professional fees | 23,508 | |
Total operating expenses | 34,873 | 89,846 |
Loss from operations | (34,873) | (89,846) |
Other expenses | ||
Interest expense | (500) | (3,078) |
Total other expenses | (500) | (3,078) |
Loss before provision for income taxes | (35,373) | (92,924) |
Net loss | $ (35,373) | $ (92,924) |
Basic and diluted net loss per common share (in dollars per share) | $ 0 | $ 0 |
Weighted average common shares outstanding Basic and diluted (in shares) | 521,280,000 | 520,574,790 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Deficit - USD ($) | Common shares [Member] | Additional paid-in capital [Member] | Accumulated deficit [Member] | Total |
Balance at beginning at Dec. 31, 2014 | $ 518,130 | $ 2,129,369 | $ (2,680,023) | $ (32,524) |
Balance at beginning (in shares) at Dec. 31, 2014 | 518,130,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Common stock issued for services | $ 1,650 | 25,850 | $ 27,500 | |
Common stock issued for services (in shares) | 1,650,000 | 1,650,000 | ||
Common stock issued for cash | $ 1,500 | 23,500 | $ 25,000 | |
Common stock issued for cash (in shares) | 1,500,000 | 1,500,000 | ||
Net loss | (92,924) | $ (92,924) | ||
Balance at ending at Dec. 31, 2015 | $ 521,280 | 2,178,719 | (2,772,947) | (72,948) |
Balance at ending (in shares) at Dec. 31, 2015 | 521,280,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Related party notes and payables forgiven | 97,515 | 97,515 | ||
Net loss | (35,373) | (35,373) | ||
Balance at ending at Dec. 31, 2016 | $ 521,280 | $ 2,276,234 | $ (2,808,320) | $ (10,806) |
Balance at ending (in shares) at Dec. 31, 2016 | 521,280,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | ||
Net loss | $ (35,373) | $ (92,924) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Common stock issued for services | 27,500 | |
Amortization and impairment of intangible asset | 3,208 | 2,133 |
Change in operating assets and liabilities: | ||
Increase (decrease) in related party advance | (1,351) | |
Increase in accounts payable and accruals | 11,304 | 6,680 |
Net cash used in operating activities | (20,861) | (57,962) |
Cash flows from financing activities | ||
Repayment of note payable - related party | (790) | |
Repayment of related party payable | (1,500) | |
Proceeds from sale of common shares | 25,000 | |
Proceeds from notes payable - related party | 10,000 | 25,000 |
Net cash provided by financing activities | 9,210 | 48,500 |
Net decrease in cash | (11,651) | (9,462) |
Cash, beginning | 11,651 | 21,113 |
Cash, ending | 11,651 | |
Cash paid: | ||
Interest | 1,358 | |
Income taxes | ||
Non-cash financing and investing activities | ||
Related party notes and payables forgiven | 97,515 | |
Due to related party for payment of expenses on behalf of the company | $ 2,306 |
ORGANIZATION AND OPERATIONS
ORGANIZATION AND OPERATIONS | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND OPERATIONS | NOTE 1 - ORGANIZATION AND OPERATIONS DKG Capital, Inc. (formerly known as Star Ally, Inc. and Reraise Gaming Corporation), (the “Company”) located in Las Vegas, Nevada, was incorporated on October 2, 2013, in the State of Nevada. Our founder Mr. Ron Camacho 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. After Mr. Ron Camacho resigned as President and Chief Executive Officer, Secretary and Treasurer of our Company on July 8, 2016, Mr. Andy Kim was appointed as President and Chief Executive Officer, Secretary and Treasurer. Mr. Kim ended the development and distribution of poker game and shifted focus to develop the binary option software, a financial software for the trading of binary option. Mr. Andy Kim resigned as President and Chief Executive Officer, Secretary and Treasurer of our Company on January 11, 2017 and Mr. Tesheb Casimir became the President and Chief Executive Officer, Secretary and Treasurer. Mr. Tesheb Casimir ended the binary option software development. Mr. Tesheb Casimir’s new business focus are: 1. Mobile application development; 2. Provision of online marketing services; 3. Operation of self-developed social media platform; and 4. Provision of various leisure services to high net worth clients who are users of our social media platform. On January 11, 2017 our Board of Directors and a majority of our shareholders’ voting power approved (1) a corporate name change to “DKG Capital, Inc.”, (2) an increase in our authorized shares of common stock to 5,000,000,000 shares from 100,000,000 shares and (3) a 30:1 forward split of our common stock. These corporate actions are now effective. All share and per share amounts herein have been retroactively restated to reflect the split. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Management acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented. The Company’s financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States. The Company has elected a December 31 fiscal year-end. Use of Estimates The preparation of financial statements in 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. A change in managements’ estimates or assumptions could have a material impact on the Company’s financial condition and results of operations during the period in which such changes occurred. 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. Website Development Costs The Company capitalizes its costs to develop its website when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the website will be used as intended. Such costs are amortized on a straight-line basis over the estimated useful life of the related asset, which approximates three years. Costs incurred prior to meeting these criteria, together with costs incurred for training and maintenance, are expensed as incurred. Costs incurred for enhancements that are expected to result in additional material functionality are capitalized and expensed over the estimated useful life of the upgrades. 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 and impairment is included in general and administrative expenses in the Company’s statements of operations, and totaled $3,208 and $2,133 for the years ended December 31, 2016 and 2015 respectively. Impairment of Long-lived Assets The Company reviews long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. The Company reviews long-lived assets for impairment at the individual asset or the asset group level for which the lowest level of independent cash flows can be identified. During the year ended December 31, 2016, the Company fully impaired its capitalized website development costs. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. The Company also follows the guidance related to accounting for income tax uncertainties. In accounting for uncertainty in income taxes, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. No liability for unrecognized tax benefits was recorded as of December 31, 2016 or December 31, 2015. 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. Loss per Common Share Basic earnings per share are calculated dividing income available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share are based on the assumption that all dilutive convertible shares and stock options and warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, warrants and options are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There were no dilutive shares, options or warrants outstanding as of December 31, 2016 and 2015. Recently Adopted Accounting Pronouncements There are no other recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [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 December 31, 2016 of $2,808,320 and $2,772,947 as of December 31, 2015, of which $2,393,750 was the result of compensation in the form of stock issuances for consulting and other services paid in 2014 and an additional $27,500 paid during 2015. As of December 31, 2016, the Company has a working capital deficit. In addition, the Company’s development activities since inception have been financially sustained through the sale of capital stock and capital contributions from note holders. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. 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. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 4 – COMMITMENTS AND CONTINGENCIES 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. On June 30, 2016, the agreement was terminated. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Dec. 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 has written off the remaining balance of website development costs in the year ended December 31, 2016. The Company's capitalized website amortization and impairment is included in general and administrative expenses in the Company's statements of operations, and totaled $3,208 and $2,133 for the year ended December 31, 2016 and 2015, respectively. Intangible assets were fully impaired during 2016. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 – RELATED PARTY TRANSACTIONS 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 December 31, 2015, the entire $30,000 was outstanding. Pursuant to a loan waiver letter dated June 30, 2016, the entire balance was forgiven during 2016. 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 2016. 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 2016. 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 2016. On June 30, 2016, $97,515 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. As of December 31, 2016, the Company was obligated to the CEO for an unsecured, non-interest demand bearing loan with a balance of $2,306. As of March 31, 2016, the Company had 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 2016. 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. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' deficit | |
STOCKHOLDERS' EQUITY | NOTE 7 – STOCKHOLDERS’ EQUITY On January 11, 2017 our Board of Directors and a majority of our shareholders’ voting power approved an increase in our authorized shares of common stock to 5,000,000,000 shares from 100,000,000 shares and a 30:1 forward split of our common stock. These corporate actions are now effective. All share and per share amounts herein have been retroactively restated to reflect the split. The total number of common shares authorized that may be issued by the Company is 5,000,000,000 shares with a par value of $0.001 per share (100,000,000 shares with a par value of $0.001 per share prior to forward split). There are no preferred shares authorized to be issued. There were 521,280,000 shares (17,376,000 shares prior to forward split) of common stock issued and outstanding at December 31, 2016 and 2015, respectively. During the year ended December 31, 2015, the Company issued 1,650,000 shares (55,000 shares prior to forward split) of its common stock, for services provided, at $0.0167 per share ($0.50 per share prior to forward split) for a total cost of $27,500. The fair value of the shares issued was based on the most recent per share price of shares issued for cash. During the year ended December 31, 2015, the Company issued, for cash, 1,500,000 shares (50,000 shares prior to forward split) of its common stock, at a cost of $0.016 per share ($0.50 per share prior to forward split), recorded at a cost of $25,000. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 9—INCOME TAXES Net deferred tax assets consist of the following components: December 31, December 31, 2015 2016 Deferred tax asset: Net operating loss carryforwards $ (60,269 ) (72,650 ) Valuation allowance 60,269 72,650 Net deferred tax asset $ - $ - The Company has accumulated net operating loss carryovers of approximately $207,570 as of December 31, 2016 which are available to reduce future taxable income. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The tax losses begin to expire in 2033. The fiscal years 2013 through 2016 remains open to examination by federal tax authorities and other tax jurisdictions. |
SUMMARY OF SIGNIFICANT ACCOUN15
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Management acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented. The Company’s financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States. The Company has elected a December 31 fiscal year-end. |
Use of Estimates | Use of Estimates The preparation of financial statements in 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. A change in managements’ estimates or assumptions could have a material impact on the Company’s financial condition and results of operations during the period in which such changes occurred. 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. |
Website Development Costs | Website Development Costs The Company capitalizes its costs to develop its website when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the website will be used as intended. Such costs are amortized on a straight-line basis over the estimated useful life of the related asset, which approximates three years. Costs incurred prior to meeting these criteria, together with costs incurred for training and maintenance, are expensed as incurred. Costs incurred for enhancements that are expected to result in additional material functionality are capitalized and expensed over the estimated useful life of the upgrades. 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 and impairment is included in general and administrative expenses in the Company’s statements of operations, and totaled $3,208 and $2,133 for the years ended December 31, 2016 and 2015 respectively. |
Impairment of Long-lived Assets | Impairment of Long-lived Assets The Company reviews long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. The Company reviews long-lived assets for impairment at the individual asset or the asset group level for which the lowest level of independent cash flows can be identified. During the year ended December 31, 2016, the Company fully impaired its capitalized website development costs. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. The Company also follows the guidance related to accounting for income tax uncertainties. In accounting for uncertainty in income taxes, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. No liability for unrecognized tax benefits was recorded as of December 31, 2016 or December 31, 2015. |
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. |
Loss per Common Share | Loss per Common Share Basic earnings per share are calculated dividing income available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share are based on the assumption that all dilutive convertible shares and stock options and warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, warrants and options are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There were no dilutive shares, options or warrants outstanding as of December 31, 2016 and 2015. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements There are no other recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Net deferred tax assets | Net deferred tax assets consist of the following components: December 31, December 31, 2015 2016 Deferred tax asset: Net operating loss carryforwards $ (60,269 ) (72,650 ) Valuation allowance 60,269 72,650 Net deferred tax asset $ - $ - |
ORGANIZATION AND OPERATIONS (De
ORGANIZATION AND OPERATIONS (Details Narrative) - shares | Jan. 11, 2017 | Jan. 11, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Common stock, authorized | 5,000,000,000 | 5,000,000,000 | ||
Subsequent Event [Member] | ||||
Common stock, authorized | 5,000,000,000 | 5,000,000,000 | ||
Common stock previously authorized | 100,000,000 | 100,000,000 | ||
Stock split | 30:1 forward split | 30:1 |
SUMMARY OF SIGNIFICANT ACCOUN18
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 8 Months Ended | 12 Months Ended | |
Sep. 01, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | |
Website development costs | $ 6,400 | ||
General and Administrative Expense [Member] | |||
Capitalized website amortization and impairment charges | $ 3,208 | $ 2,133 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ 2,808,320 | $ 2,772,947 | |
Share based compansation | $ 27,500 | $ 2,393,750 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - Agreement [Member] - Mr. Chris Moneymaker [Member] | May 21, 2014USD ($) |
Signing bonus amount | $ 10,000 |
Monthly compensation paid | $ 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 ($) | 8 Months Ended | 12 Months Ended | |
Sep. 01, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | |
Website development costs | $ 6,400 | ||
General and Administrative Expense [Member] | |||
Capitalized website amortization and impairment charges | $ 3,208 | $ 2,133 |
RELATED TRANSACTIONS (Details N
RELATED TRANSACTIONS (Details Narrative) - USD ($) | Aug. 14, 2015 | Jun. 02, 2014 | Mar. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2013 | Jul. 08, 2016 | Jun. 01, 2016 | May 18, 2016 | Jul. 08, 2015 | Jun. 08, 2015 | Jun. 01, 2015 |
Related Party Transaction [Line Items] | |||||||||||||
Loan payable - related party | $ 30,000 | ||||||||||||
Repayment of debt | 1,500 | ||||||||||||
Related party receivable | $ 1,351 | ||||||||||||
Chief Executive Officer [Member] | Unsecured Debt [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Description of interest rate terms | Loan is non-interest bearing | ||||||||||||
Loan payable - related party | $ 2,306 | ||||||||||||
Former Related Party [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Debt forgiven amount | $ 97,515 | ||||||||||||
Former Related Party [Member] | 5% Secured Debt [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Debt face amount | $ 25,000 | ||||||||||||
Debt forgiven amount | 26,322 | ||||||||||||
Debt balloon payment | $ 26,322 | $ 26,250 | |||||||||||
Description of collateral | Secured by not less than 2,000,000 shares of the Company's common stock. | ||||||||||||
Interest rate | $ 1,322 | ||||||||||||
Former Related Party [Member] | 2% Loans Payable [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Debt face amount | $ 25,000 | ||||||||||||
Debt forgiven amount | 25,682 | ||||||||||||
Debt balloon payment | $ 25,682 | $ 25,042 | |||||||||||
Former Related Party [Member] | Loans Payable [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Debt face amount | $ 10,000 | ||||||||||||
Debt forgiven amount | $ 9,210 | ||||||||||||
Repayment of debt | 790 | ||||||||||||
Former Officer & Director [Member] | Unsecured Debt [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Debt face amount | $ 30,000 | ||||||||||||
Description of interest rate terms | Loan is non-interest bearing | ||||||||||||
Description of repayment terms | No specific repayment terms or maturity date. | ||||||||||||
Loan payable - related party | $ 30,000 | ||||||||||||
Former Officer & Director [Member] | Unsecured Debt [Member] | Loan Waiver Letter [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Debt forgiven amount | $ 30,000 | ||||||||||||
Loans Receivable [Member] | Former President [Member] | |||||||||||||
Related Party Transaction [Line Items] | |||||||||||||
Description of interest rate terms receivable | Loan is non-interest bearing | ||||||||||||
Related party receivable | $ 1,351 |
STOCKHOLDERS' EQUITY (Details N
STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) | Jan. 11, 2017 | Jan. 11, 2017 | Dec. 31, 2015 | Dec. 31, 2016 |
Common stock, authorized | 5,000,000,000 | 5,000,000,000 | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | ||
Common stock, issued | 521,280,000 | 521,280,000 | ||
Common stock, outstanding | 521,280,000 | 521,280,000 | ||
Number of shares issued for services | 1,650,000 | |||
Share price (in dollars per share) | $ 0.0167 | |||
Value of shares issued for services | $ 27,500 | |||
Number of shares issued for cash | 1,500,000 | |||
Value of shares issued for cash | $ 25,000 | |||
Shares issued for cash (in dollars per share) | $ 0.016 | |||
Prior Forward Split [Member] | ||||
Common stock, par value (in dollars per share) | $ 0.001 | |||
Common stock, issued | 17,376,000 | 17,376,000 | ||
Common stock, outstanding | 17,376,000 | 17,376,000 | ||
Number of shares issued for services | 55,000 | |||
Share price (in dollars per share) | $ 0.50 | |||
Number of shares issued for cash | 50,000 | |||
Shares issued for cash (in dollars per share) | $ 0.50 | |||
Subsequent Event [Member] | ||||
Common stock, authorized | 5,000,000,000 | 5,000,000,000 | ||
Common stock previously authorized | 100,000,000 | 100,000,000 | ||
Description of forward split | 30:1 forward split | 30:1 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax asset: | ||
Net operating loss carryforwards | $ (72,650) | $ (60,269) |
Valuation allowance | 72,650 | 60,269 |
Net deferred tax asset |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Income Tax Disclosure [Abstract] | |
Accumulated net operating loss carryovers | $ 207,570 |
operating loss carryovers expiration year | 2,033 |