DKG Capital (DKGH) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 14, 2017
Document And Entity Information
Entity Registrant Name	DKG Capital Inc.
Entity Central Index Key	1,592,411
Document Type	10-Q
Trading Symbol	DKGH
Document Period End Date	Sep. 30, 2017
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 Common Stock, Shares Outstanding		14,893,714
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Total assets	$ 0	$ 0
Current liabilities
Accounts payable and accrued liabilities	2,500	8,500
Amount due to former director	2,306	2,306
Amount due to shareholder	21,218
Total current liabilities	26,024	10,806
Stockholders' deficit
Common stock, 5,000,000,000 shares authorized, at $0.001 par value, 14,893,714 shares issued and outstanding, respectively	14,894	14,894
Additional paid-in capital	2,782,620	2,782,620
Accumulated deficit	(2,823,538)	(2,808,320)
Total stockholders' deficit	(26,024)	(10,806)
Total liabilities and stockholders' deficit	$ 0	$ 0

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2017	Jan. 11, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, authorized	5,000,000,000	5,000,000,000	5,000,000,000
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, issued	14,893,714		14,893,714
Common stock, outstanding	14,893,714		14,893,714

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses
General and administrative	$ 4,570	$ 8,225	$ 15,218	$ 25,765
Total operating expenses	4,570	8,225	15,218	25,765
Loss from operations	(4,570)	(8,225)	(15,218)	(25,765)
Other expenses
Interest expense				(500)
Total other expenses				(500)
Loss before provision for income taxes	(4,570)	(8,225)	(15,218)	(26,265)
Net loss	$ (4,570)	$ (8,225)	$ (15,218)	$ (26,265)
Basic and diluted net loss per common share (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding
Basic and diluted (in shares)	14,893,714	14,893,714	14,893,714	14,893,714

Consolidated Statements of Cash

Consolidated Statements of Cash Flow (unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flow from operating activities
Net loss	$ (15,218)	$ (26,265)
Adjustment to reconcile net loss to cash used in operating activities
Amortization of intangible asset		1,600
Change in assets and liabilities
Increase in accounts payables and accruals	15,218	3,804
Net cash used in operating activities		(20,861)
Cash flows from financing activities
Net proceeds from note payable-related party		9,210
Net cash provided by financing activities		9,210
Net decrease in cash		(11,651)
Cash, beginning		11,651
Cash, ending
Cash paid:
Interest
Income taxes
Non-cash Investing and Financing Activities:
Former related party notes and payables forgiven		93,515
Due to shareholder for payment of expenses on behalf of the Company	$ 21,218	$ 2,306

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	NOTE 1 - ORGANIZATION AND OPERATIONS DKG Capital, Inc. (“we”, “our”, the “Company”), located in Las Vegas, Nevada, was incorporated on October 2, 2013, in the State of Nevada. 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 focuses 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. On July 6, 2017, the Company’s Board of Directors approved a merger with DKG Mobilepay Inc., a wholly owned subsidiary incorporated in the State of Nevada. The Merger is related to the Company’s revised business plan and the Company will be the surviving company of the Merger. The plan of merger provides for an exchange ratio of 1:35 for the common stock of both constituent corporations, which has the practical effect of a 1 for 35 reverse split of the Company’s common stock, with fractional shares to be rounded up to the nearest whole number of shares. This corporate action was approved by the Company’s Board of Directors as authorized by Nevada corporate law. The 1 for 35 reverse stock split effected by the Merger was effective on August 4, 2017. All share and per share amounts herein have been retroactively restated to reflect the reverse stock split.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim consolidated financial statements of DKG Capital, Inc. 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, 2016 and 2015, contained in the Company's Form 10K, originally filed with the Securities and Exchange Commission on April 7, 2017. 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. Principle of Consolidation The consolidated financial statements of the Company include the Company and its wholly-owned subsidiary DKG Mobilepay Inc. All material intercompany balances and transactions have been eliminated.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying unaudited 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 has incurred net recurring losses and an accumulated deficit. As of September 30, 2017, 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 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS As of September 30, 2017 and December 31, 2016, the Company was obligated to a former director for an unsecured, non-interest demand bearing loan with a balance of $2,306. As of September 30, 2017, the Company was obligated to Mr. Tesheb Casimir, CEO for an unsecured, non-interest demand bearing loan with a balance of $21,218, for the Company’s business expenses paid directly by the CEO on behalf of the Company. 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	9 Months Ended
	Sep. 30, 2017
Stockholders' deficit
STOCKHOLDERS' EQUITY	NOTE 5 – 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. On July 6, 2017, the Company’s Board of Directors approved a 1 for 35 reverse 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 14,893,714 shares (17,376,000 shares prior to forward split) of common stock issued and outstanding at September 30, 2017.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 6 –SUBSEQUENT EVENTS Subsequent to September 30, 2017, certain expenses amounting to $2,995 were paid by Tesheb Casimir, the major shareholder and sole director of the Company. The borrowings are due on demand and non-interest bearing. On August 1, 2017, Mr. Tesheb Casimir incorporated a new company in Malaysia Ongraph Holdings Sdn Bhd. This is authorized and approved by a board resolution on November 1, 2017.

SUMMARY OF SIGNIFICANT ACCOUN12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
Summary Of Significant Accounting Policies Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements of DKG Capital, Inc. 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, 2016 and 2015, contained in the Company's Form 10K, originally filed with the Securities and Exchange Commission on April 7, 2017. 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.
Consolidation	Principle of Consolidation The consolidated financial statements of the Company include the Company and its wholly-owned subsidiary DKG Mobilepay Inc. All material intercompany balances and transactions have been eliminated.

ORGANIZATION AND OPERATIONS (De

ORGANIZATION AND OPERATIONS (Details Narrative) - shares	Jul. 06, 2017	Jan. 11, 2017	Jan. 11, 2017	Sep. 30, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, authorized		5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000
Common stock previously authorized		100,000,000	100,000,000
Stock split	1 for 35 reverse split	30:1 forward split	30:1

RELATED TRANSACTIONS (Details N

RELATED TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Loan payable - related party	$ 21,218
Unsecured Debt [Member] | Former Director [Member]
Related Party Transaction [Line Items]
Loan payable - related party	$ 2,306	$ 2,306
Description of interest rate terms	Loan is non-interest bearing
Unsecured Debt [Member] | Mr. Tesheb Casimir [Member]
Related Party Transaction [Line Items]
Loan payable - related party	$ 21,218
Description of interest rate terms	Loan is non-interest bearing

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - $ / shares	Jul. 06, 2017	Jan. 11, 2017	Jan. 11, 2017	Sep. 30, 2017	Dec. 31, 2016
Common stock, authorized		5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000
Common stock previously authorized		100,000,000	100,000,000
Description of forward split	1 for 35 reverse split	30:1 forward split	30:1
Common stock, par value (in dollars per share)				$ 0.001	$ 0.001
Common stock, issued				14,893,714	14,893,714
Common stock, outstanding				14,893,714	14,893,714
Prior Forward Split [Member]
Common stock, authorized				100,000,000
Common stock, par value (in dollars per share)				$ 0.001
Common stock, issued				17,376,000
Common stock, outstanding				17,376,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Oct. 02, 2017USD ($)
Subsequent Event [Member] | Mr. Tesheb Casimir [Member]
Subsequent Event [Line Items]
Other expenses	$ 2,995