Momentous Entertainment (MMEG) 10-K 11 Apr 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Apr. 07, 2016	Jun. 30, 2015
Document and Entity Information:
Entity Registrant Name	MOMENTOUS ENTERTAINMENT GROUP INC
Entity Trading Symbol	MMEG
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Entity Central Index Key	1,602,381
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		85,719,025
Entity Public Float			$ 2,577,378
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash	$ 14	$ 10,744
Inventory	5,984	55,149
Deferred production costs	41,131	428,098
Prepaid expenses and other assets	294	14,579
Total Current Assets	47,423	508,570
Total Assets	47,423	508,570
Current Liabilities:
Accounts payable	65,929	54,201
Accrued expenses	8,313	87,634
Due to Company president	119,745	179,553
Convertible notes payable	352,000	220,580
Loans payable	32,400	7,500
Demand loans due to Company president	343,430	355,570
Total Current Liabilities	921,817	905,038
Total Liabilities	921,817	905,038
Stockholders' Deficit:
Preferred stock: $0.001 par value; 50,000,000 shares authorized; 1,000 shares issued or outstanding	1	0
Common stock :0.001 par value; 450,000,000 shares authorized; 81,380,810 and 70,515,450 shares issued and outstanding	81,381	70,515
Paid-in capital	764,274	226,080
Accumulated deficit	(1,720,050)	(693,063)
Total Stockholder's Deficit	(874,394)	(396,468)
Total Liabilities and Stockholders' Equity	$ 47,423	$ 508,570

BALANCE SHEETS PARENTHETICALS

BALANCE SHEETS PARENTHETICALS - $ / shares	Dec. 31, 2015	Dec. 31, 2014
PARENTHETICALS
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued	1,000	0
Preferred Stock, shares outstanding	1,000	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	450,000,000	450,000,000
Common Stock, shares issued	81,380,810	70,515,450
Common Stock, shares outstanding	81,380,810	70,515,450

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Revenue	$ 566	$ 676
Costs and Expenses
Project costs	454,869	50,311
Marketing, general and administrative	561,473	283,131
Total operating Expenses	1,016,342	333,442
Loss From Operations	(1,015,776)	(332,766)
Other Expense
Interest expense	11,211	7,354
Net (Loss)	$ (1,026,987)	$ (340,120)
Net (Loss) Per Share: Basic And Diluted	$ (0.01)	$ (0.01)
Weighted Average Number Of Shares Outstanding: Basic And Diluted	73,961,414	50,419,957

STATEMENT OF STOCKHOLDERS' DEFI

STATEMENT OF STOCKHOLDERS' DEFICIT - USD ($)	Preferred Stock	Preferred Stock Amount	Common Stock	Common Stock Amount	Additional Paid-in Capital	Deficit	Total
Balance at Jan. 01, 2014			48,595,450	48,595		(352,943)	(304,348)
Issuance of shares upon conversion of debt			3,040,000	3,040	36,960		40,000
Issuance of shares to settle accrued liabilities			5,796,000	5,796	52,164		57,960
Issuance of shares for services			12,908,000	12,908	116,172		129,080
Issuances of shares for cash			176,000	176	20,784		20,960
Net loss						$ (340,120)	$ (340,120)
Balance, at Dec. 31, 2014			70,515,450	70,515	226,080	(693,063)	(396,468)
Issuance of Preferred Stock to President for services	1,000	1			9,999		10,000
Issuance of shares to Vice-President for Services			8,000,000	8,000			8,000
Issuance of shares upon conversion of debt.			185,360	185	178,495		178,680
Issuance of shares for services.			2,680,000	2,681	349,700		352,381
Net loss						$ (1,026,987)	$ (1,026,987)
Balance. at Dec. 31, 2015	1,000	1	81,380,810	81,381	764,274	(1,720,050)	(874,394)

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (1,026,987)	$ (340,120)
Adjustments to reconcile net loss to net cash used in operating activities:
Issued stock for services	370,381	129,080
Changes in operating assets and liabilities:
Change in deferred production costs	386,967	(428,098)
Change in inventory	49,165	(52,276)
Change in prepaid assets and other expenses	14,285	(12,579)
Change in accounts payable and accrued expenses	(67,593)	66,672
Shares Issued to settle accrued liability	0	57,960
Cash Flows Provided (Used) by Operating Activities	(273,782)	(579,361)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds of convertible promissory notes	310,100	220,580
Proceeds of demand loans from Company President	0	355,570
Repayment of demand loans from Company President	(71,948)	0
Proceeds of loans payable	24,900	0
Loan repayment	0	(7,500)
Proceeds from the issuance of common stock	0	20,960
Cash Flows Provided by Financing Activities	263,052	589,610
NET CHANGE IN CASH	(10,730)	10,249
Cash, beginning of period	10,744	495
Cash, end of period	14	10,744
Non-Cash Financing Transactions:
Issuance of shares to settle convertible notes	$ 185,360	$ 40,000

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2015
ORGANIZATION
ORGANIZATION	NOTE 1–ORGANIZATION Momentous Entertainment Group, Inc. (the “Company”) was founded by Kurt E. Neubauer as Financial Equity Partners, Inc., a Texas company, in 2004 and was incorporated as a C corporation under the laws of the State of Nevada as Momentous Entertainment Group, Inc. in November 2013. It had very limited activities until June 2011 when it started designing a detailed business plan focused on creating, producing and distributing quality entertainment content across various media channels utilizing direct response media marketing. The Company’s business plan includes the sponsoring of live concerts and other musical events. On March 24, 2016, it incorporated a wholly-owned subsidiary, Music One Corp., a Nevada Corporation, which will be the entity that manages these events.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SIGNIFICANT ACCOUNTING POLICIES
Significant Accounting Policies	NOTE 2–SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a calendar year-end. Cash Equivalents For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. Inventory Inventory is valued at cost using the first-in, first-out cost flow assumption. All inventories consist of finished products ready for sale. Stock-based Compensation The Company follows Accounting Standards Codification (ASC) 718-10, Stock Compensation, which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company has not adopted a stock option plan and has not granted any stock options. The Company follows AS 505-50 in accounting for equity based payments to non-employees. Most equity based payments to date have been to non-employees and this standard provides that such transactions be valued at whichever is more readily determinable, the value of the goods or services received or the value of the shares given up. Since most of these transactions were entered into prior to the date in which our shares were trading, we accounted for these transactions at the share price negotiated with the vendor for their services which per se is the value of the services received. Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company has adopted the provisions of ASC 260. Loss per Share Net loss per common share is computed pursuant to ASC 260-10-45. Basic and diluted net income per common share has been calculated by dividing the net income for the period by the basic and diluted weighted average number of common shares outstanding assuming that the Company incorporated as of the beginning of the first period presented. There were no dilutive shares outstanding as of December 31, 2015 or 2014. Income Taxes The Company follows section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25. No provision was made for Federal income tax at December 31, 2015 or 2014. Revenue Recognition The Company follows ASC 605-10-S99-1 for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. Subsequent Events The Company follows the guidance in ASC 855-10-50 for the disclosure of subsequent events. The Company evaluates subsequent events from the date of the balance sheet through the date when the financial statements are issued. Pursuant to ASU 2010- 09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them with the SEC on the EDGAR system. Recently Issued Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. The Company is an emerging growth company under the Jumpstart Our Business Startups Act of 2012 (JOBS Act). Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to take advantage of the benefits of this extended transition period.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2015
GOING CONCERN:
GOING CONCERN	NOTE 3–GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying financial statements, the Company has very limited financial resources, with working capital and net shareholder deficits and had generated limited revenue as of December 31, 2015. While the Company is undertaking its business plan to generate additional revenues, the Company’s cash position may not be sufficient to support the Company’s basic business plan and product development efforts. Management believes that the actions presently underway to increase the number of contracts undertaken have a realistic chance of succeeding. While the Company believes in the viability of its strategy to increase revenues and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s ability to continue as a going concern is dependent upon its ability to achieve profitable operations or obtain adequate financing. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2015
INVENTORIES
INVENTORIES	NOTE 4–INVENTORIES The Company expensed $61,109 of inventory due to the termination agreement with Piloxing, LLC on November 20, 2015. The Company previously purchased women’s and men’s Piloxing gloves and Piloxing water bottle upsells in anticipation of the sales of the Piloxing DVD’s. Since the termination of the agreement with Piloxing, LLC, the Company determined that the inventory associated with this project was deemed useless and written off as an expense. The Company’s inventory consists of $5,984 of recordings of CD’s for The Greatest Story Ever Sung and Tim Storey Scriptures at December 31, 2015.

DEFERRED PRODUCTION COSTS

DEFERRED PRODUCTION COSTS	12 Months Ended
	Dec. 31, 2015
SIGNIFICANT ACCOUNTING POLICIES
DEFERRED PRODUCTION COSTS	NOTE 5–DEFERRED PRODUCTION COSTS The Company had incurred deferred production costs in relation to the Piloxing, LLC infomercial materials during 2015 and 2014. Due to terminating the joint-venture agreement with Dixie Worldwide Productions and a termination agreement with Piloxing, LLC on November 20, 2015, all previous deferred production costs amounting to $425,773 have been expensed at December 31, 2015. These write-offs are included in the accompanying Statements of Operations. The Company incurred costs of $41,131 to develop a new song for the Company’s next musical CD’s, Tim Storey Scriptures CD and the reality series with Bobby Dale Earnhardt. These costs have been deferred and will be amortized when the finished products are available for sale.

MARKETING EXPENSES

MARKETING EXPENSES	12 Months Ended
	Dec. 31, 2015
MARKETING EXPENSES:
MARKETING EXPENSES	NOTE 6–MARKETING EXPENSES The Company issued 1,300,000 shares of common stock to two investor relation firms. The Company recorded an amount equal to the quoted market value of the 1,300,000 shares of common stock as of the date the work was to commence ($.27 per share).

CONVERTIBLE DEBT

CONVERTIBLE DEBT	12 Months Ended
	Dec. 31, 2015
CONVERTIBLE DEBT
CONVERTIBLE DEBT	NOTE 7–CONVERTIBLE DEBT At December 31, 2015, the Company is obligated under convertible notes payable with an aggregate principal balance of $352,000, all of which mature in 2016. The notes are convertible at prices ranging from $0.25 to $2 per share or an aggregate of 915,000 shares if all notes are converted.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2015
LOANS
LOANS	NOTE 8–LOANS The Company had two demand loan payables outstanding in the principal amounts of $7,500 and $24,900, respectively. The $24,900 non-interest bearing loan is due to a director and officer of the Company. The $7,500 note bears interest at 10.0% per annum.

DEMAND LOANS FROM PRESIDENT

DEMAND LOANS FROM PRESIDENT	12 Months Ended
	Dec. 31, 2015
DEMAND LOANS FROM PRESIDENT:
DEMAND LOANS FROM PRESIDENT	NOTE 9–DEMAND LOANS FROM PRESIDENT At December 31, 2015 the Company was obligated for demand loans aggregating $343,430 due to the Company’s President. The loans were made from his personal resources, the proceeds from which were used to finance operations. All demand loans made by the Company’s President bear interest at 3% per annum.

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Dec. 31, 2015
Summary of activity in shareholders' equity
SHAREHOLDERS' EQUITY AND CONVERTIBLE DEBT	NOTE 10–SHARE CAPITAL The Company is authorized to issue 450,000,000 shares of common stock and 50,000,000 shares of preferred stock. At the time of incorporation in Nevada, the Company issued 1,000,000 shares of its common stock to its President in exchange for the business of Financial Equity Partners, Inc. The shares were valued at par value as there is no verifiable market value for the shares due to a lack of trading activity. During 2014, the Company issued 5,796,000 common shares to settle $57,960 in liabilities. During 2014, the Company issued 12,908,000 common shares in exchange for services amounting to $129,080. During 2014, the Company issued 3,040,000 common shares related to $40,000 in debt conversions. During 2014, the company issued 176,000 common shares for cash in the amount of $20,960. In 2015, the Company issued 1,000 shares of preferred stock to its President for services. The shares have no dividend or conversion rights, but give him the right to 51% in all shareholder votes. The issuance of preferred stock was valued at $10,000. During 2015, the Company issued 8,000,000 shares of common stock to the Company’s Vice-President of Business Development (who is also a member of the Board of Directors) for services valued at $8,000. During 2015 the Company issued 2,460,000 common shares unrelated third parties in exchange for services valued at $362,580. During 2015, the Company issued 185,360 shares for conversion of $178,680 of convertible notes. At December 31, 2015, there were 81,380,810 shares of common stock and 1,000 shares of preferred stock outstanding.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
INCOME TAXES	NOTE 11-INCOME TAXES The Company operates in the United States; accordingly, federal and state income taxes have been provided based upon the tax laws and rates of the U.S. The Company has incurred losses since inception and, accordingly has a net operating loss carry forward as of December 31, 2015 of approximately $916,305. This loss carry forward expires according to the following schedule: Year Ending December 31, Amount 2033 $ 272,000 2034 337,000 2035 307,305 Total $ 916,305 The income tax provision differs from the amount of income tax determined by applying the federal income tax rate to pre- tax income from continuing operations for the years ended December 31, 2014 and 2013, due to the following: Description 2015 2014 Tax provision(benefit) at expected tax rate $ (514,692) $ (114,587) Application of valuation allowance 514,692 114,587 Income tax provision $ - $ - Deferred tax assets at December 31, 2015 and 2014 are comprised of net operating loss carry forwards. The amounts for tax purposes could vary from those disclosed above as the Company has not addressed the differences in valuation of share-based compensation for tax purposes. Tax years 2010-2015; remain subject to examination by the IRS and respective states.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 12–RELATED PARTY TRANSACTIONS At December 31, 2015, the Company had accounts payable of $119,745 due to its President. This amount principally relates to payments made by the Company’s President on behalf of the Company in connection with deferred production costs for the Greatest Story Ever Sung CD, the Tim Storey Scriptures CD and the reality series with Bobby Dale Earnhardt, which will be amortized when the CD’s and the reality series are sold. (See Note 9) The Company entered into a consulting agreement in 2013 with one current officer and director prior to either becoming an officer and director. The agreements were completed prior to either consultant becoming an officer or director. Accrued expenses at December 31, 2015 include $3,000 relating to this agreement. See Note 7 which describes the issuance of common and preferred shares of the Company’s stock to officers and directors and Note 9 concerning loans due to the Company’s President.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
SUBSEQUENT EVENTS:
SUBSEQUENT EVENTS	NOTE 13-SUBSEQUENT EVENTS The Company has evaluated subsequent events from January 1, 2016 through April 8, 2016, the date of issuance of the audited financial statements and has determined it does not have any material subsequent events to disclose except: On February 9, 2016, The Company has entered into a $280,000 Convertible Loan Agreement with TYPENEX CO-INVESTMENT, LLC, an unaffiliated entity, with the following key provisions: The Note has a 9.1% Original Issue Discount and bears interest at the rate of 10%. The conversion price is fixed at $.35 per share and is subject to reduction if the Company issues shares below the conversion price. The Company will make automatic installment payments beginning 180 days from Closing (and continuing in equal installments for the next 14 months (for a total of 15 payments) or until the balance is paid in full. The Installment Amount due on each Installment Date is equal to the sum of all accrued but unpaid interest and a principal amount equal to approximately $21,167. The Installment Amount can be paid in either cash or Common Stock. If the Company chooses to make a payment in Common Stock, such stock shall be issued at the Market Price. The Market Price of the common stock is defined as 70% of the average of the three lowest closing bid prices for the 20 consecutive trading days prior to the date on which the Market Price is measured. 70% shall be replaced with 60% if the average of the three lowest closing bid prices is less than $.10. On March 22, 2016, the Company entered into an agreement with LG Capital Funding, LLC, a New York Limited Liability Company (LG) with respect to a private investment of up to $260,000 of convertible debt securities with a 12 month term. The $260,000 convertible debt is comprised of two (2) $65,000 front-end notes and two (2) $65,000 back-end notes. The principal and interest under the notes will be convertible into shares of Common Stock of the Company at a 45% discount to the lowest closing bid price with a 20 day look back. LG will deduct legal fees of $3,250 on the funding of each of the Rule 144 notes, as well as on the cash funding of each of the back-end notes, as well as making deductions of $6,500 to Carter, Terry & Co. on the cash funding of each of those notes. The notes will bear interest at 8%.

ACCOUNTING POLICIES (POLICIES)

ACCOUNTING POLICIES (POLICIES)	12 Months Ended
	Dec. 31, 2015
SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting	Basis of Accounting The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a calendar year-end.
Cash Equivalents	Cash Equivalents For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
Inventory	Inventory Inventory is valued at cost using the first-in, first-out cost flow assumption. All inventories consist of finished products ready for sale.
Stock-based Compensation	Stock-based Compensation The Company follows Accounting Standards Codification (ASC) 718-10, Stock Compensation, which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company has not adopted a stock option plan and has not granted any stock options. The Company follows AS 505-50 in accounting for equity based payments to non-employees. Most equity based payments to date have been to non-employees and this standard provides that such transactions be valued at whichever is more readily determinable, the value of the goods or services received or the value of the shares given up. Since most of these transactions were entered into prior to the date in which our shares were trading, we accounted for these transactions at the share price negotiated with the vendor for their services which per se is the value of the services received.
Use of Estimates and Assumptions	Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company has adopted the provisions of ASC 260.
Loss per Share	Loss per Share Net loss per common share is computed pursuant to ASC 260-10-45. Basic and diluted net income per common share has been calculated by dividing the net income for the period by the basic and diluted weighted average number of common shares outstanding assuming that the Company incorporated as of the beginning of the first period presented. There were no dilutive shares outstanding as of December 31, 2015 or 2014.
Income Taxes	Income Taxes The Company follows section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25. No provision was made for Federal income tax at December 31, 2015 or 2014.
Revenue Recognition	Revenue Recognition The Company follows ASC 605-10-S99-1 for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.
Subsequent Events	Subsequent Events The Company follows the guidance in ASC 855-10-50 for the disclosure of subsequent events. The Company evaluates subsequent events from the date of the balance sheet through the date when the financial statements are issued. Pursuant to ASU 2010- 09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them with the SEC on the EDGAR system.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. The Company is an emerging growth company under the Jumpstart Our Business Startups Act of 2012 (JOBS Act). Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to take advantage of the benefits of this extended transition period.

SCHEDULE OF INCOME TAX EXPENSE

SCHEDULE OF INCOME TAX EXPENSE BENEFIT (Tables)	12 Months Ended
	Dec. 31, 2015
SCHEDULE OF INCOME TAX EXPENSE BENEFIT (Tables):
Schedule of net operating loss carry forwards	The Company has incurred losses since inception and, accordingly has a net operating loss carry forward as of December 31, 2015 of approximately $916,305. This loss carry forward expires according to the following schedule: Year Ending December 31, Amount 2033 $ 272,000 2034 337,000 2035 307,305 Total $ 916,305
Schedule of Effective Income Tax Rate Reconciliation	The income tax provision differs from the amount of income tax determined by applying the federal income tax rate to pre- tax income from continuing operations for the years ended December 31, 2014 and 2013, due to the following: Description 2015 2014 Tax provision(benefit) at expected tax rate $ (514,692) $ (114,587) Application of valuation allowance 514,692 114,587 Income tax provision $ - $ -

Inventories consisted of the fo

Inventories consisted of the following (Details)	Dec. 31, 2015USD ($)
Inventories consisted of the following
Company expensed inventory due to the termination agreement with Piloxing, LLC	$ 61,109
Company's inventory consists of recordings of CD's for The Greatest Story Ever Sung and Tim Storey Scripture	$ 5,984

Deffered production costs (Deta

Deffered production costs (Details)	Dec. 31, 2015USD ($)
Deffered production costs details
Incurred costs to develop a new musical song	$ 41,131
Deferred production costs written off in the period	$ 425,773

Common stock to two investor re

Common stock to two investor relation firms (Details)	Dec. 31, 2015$ / sharesshares
Common stock to two investor relation firms
Company issued shares of common stock to two investor relation firm | shares	1,300,000
Per share value of common stock issued to investor relation firm | $ / shares	$ 0.27

Convertible notes payable (Deta

Convertible notes payable (Details)	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Convertible notes payable {1}
Company is obligated under convertible notes payable with an aggregate principal balance | $	$ 352,000
Aggregate number of shares issuable on conversion of note | shares	915,000
The notes are convertible at prices ranging minimum	$ 0.25
The notes are convertible at prices ranging maximum	$ 2

Demand loans (Details)

Demand loans (Details)	Dec. 31, 2015USD ($)
Demand loans
Company was obligated for demand loans aggregating due to the Company's President	$ 343,430
Demand loans made by the Company's President bear interest at a rate per annum	3.00%

Loans payable (Details)

Loans payable (Details)	Dec. 31, 2015USD ($)
LOANS PAYABLE DETAILS
First Demand loan payables outstanding in the principal amounts	$ 7,500
Second Demand loan payables outstanding amount	24,900
Due to director and officer	24,900
Director note value	$ 7,500
Note bears interest per annum	10.00%

Equity transactions (Details)

Equity transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
EQUITY TRANSACTIONS:
The Company authorized to issue shares of common stock	450,000,000
Company authorized to issue Preferred Stock shares	50,000,000
Company Issued shares of common stock to President	1,000,000
Company issued common shares to settle liabilities.		5,796,000
Value of common shares issued to settle liabilities.		$ 57,960
Issued shares in exchange for services		12,908,000
Value of common shares issued in exchange for services		$ 129,080
Issued Shares related to debt conversions		3,040,000
Value of common shares issued to debt conversions		$ 40,000
The company issued common shares for cash		176,000
Issued common shares for cash in the amount		$ 20,960
Company issued Preferred stock shares to its President for services	1,000
Voting power issued to president in percentage	51.00%
Value of preferred shares issued to its President for services	$ 10,000
Company issued Common stock shares to vice President for services	8,000,000
Value of common shares issued to its vice President for services	$ 8,000
Company issued common shares unrelated third parties in exchange for services	2,460,000
Value of common shares issued to unrelated third parties in exchange for services	$ 362,580
Company issued shares for conversion of convertible notes	185,360
Value of common shares issued for conversion of convertible notes	$ 178,680
Common stock shares outstanding on december 2015	81,380,810
Preferred stock shares outstanding on december 2015	1,000

Income Tax loss carry forward (

Income Tax loss carry forward (Details)	Dec. 31, 2015USD ($)
Income Tax loss carry forward expires:
Operating loss carry forward expires 2033	$ 272,000
Operating loss carry forward expires 2034	337,000
Operating loss carry forward expires 2035	307,305
Operating loss carry forward total	$ 916,305

Income tax provision (Details)

Income tax provision (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income tax provision Details
Tax provision at expected tax rate	$ (514,692)	$ (114,587)
Application of valuation allowance	514,692	114,587
Income tax provision.	$ 0	$ 0

Related party transactions (Det

Related party transactions (Details)	Dec. 31, 2015USD ($)
RELATED PARTY TRANSACTIONS Details
Accounts payable Due to its president	$ 119,745
Accrued expenses relating to agreement	$ 3,000

Subsequent events transactions

Subsequent events transactions (Details) - USD ($)	Mar. 22, 2016	Feb. 09, 2016
SUBSEQUENT EVENTS TRANSACTIONS:
The Company has entered into a Convertible Loan Agreement with TYPENEX CO-INVESTMENT, LLC		$ 280,000
The Note has a 9.1% Original Issue Discount and bears interest at the rate		10.00%
The conversion price is fixed per share		$ 0.35
Installment Amount due on each Installment Date is equal to the sum of all accrued but unpaid interest and a principal amount equal to approximately		$ 21,167
The Market Price of the common stock is defined as average of the three lowest closing bid prices for the 20 consecutive trading days prior to the date on which the Market Price is measured	45.00%	70.00%
70% shall be replaced with 60% if the average of the three lowest closing bid prices is less thana price		$ 0.10
Company entered into an agreement with LG Capital Funding, LLC, a New York Limited Liability Company (LG) with respect to a private investment	$ 260,000
The $260,000 convertible debt is comprised of two fornt and back notes each with amount	65,000
Cash funding of each of the back-end notes, as well as making deductions	$ 6,500
The notes will bear interest	8.00%
Company entered into an agreement with Adar Bays, LLC, a Florida Limited Company (Adar), with respect to a private investment up to	$ 140,000
The $140,000 convertible debt is comprised of two front and back notes each	35,000
Adar will deduct legal fees	2,000
Cash funding on each of the back-end notes, as well as making deductions.	$ 3,250
Front anf back notes bears interest	8.00%