Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 30, 2016 | Jun. 30, 2015 | |
Document and Entity Information: | |||
Entity Registrant Name | Trimax Consulting, Inc. | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Trading Symbol | trmx | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,624,985 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 25,957,500 | ||
Entity Public Float | $ 96 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | Yes | ||
Entity Well-known Seasoned Issuer | No | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Trimax Consulting, Inc. - Balan
Trimax Consulting, Inc. - Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash and cash equivalents | $ 21,190 | $ 7,000 |
Investment in real property tax liens | 1,248 | 0 |
Total current assets | 22,438 | 7,000 |
Total Assets | 22,438 | 7,000 |
Current liabilities: | ||
Accrued expenses | 4,713 | 4,213 |
Deferred revenue | 0 | 1,000 |
Related party officer demand loan | 500 | 4,500 |
Total current liabilities | 5,213 | 9,713 |
Stockholders' equity: | ||
Common stock, $0.0001 par value; 50,000,000 shares authorized, 25,957,500 and 25,000,000 issued and outstanding at 12/31/2015 and 12/31/2014, respectively | 2,596 | 2,500 |
Additional paid-in capital | 17,054 | (2,000) |
Accumulated deficit | (2,425) | (3,213) |
Total stockholders' equity | 17,225 | (2,713) |
Total Liabilities and Stockholders' Equity | $ 22,438 | $ 7,000 |
Trimax Consulting, Inc. - Bala3
Trimax Consulting, Inc. - Balance Sheets (Parentheticals)(USD $) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 25,957,500 | 25,000,000 |
Common stock, shares outstanding | 25,957,500 | 25,000,000 |
Trimax Consulting, Inc. - State
Trimax Consulting, Inc. - Statement of Operations - USD ($) | 7 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Income Statement | ||
Revenue | $ 4,500 | $ 11,017 |
Operating Expenses | 7,713 | 10,229 |
Net Income (Loss) from Operations | (3,213) | 788 |
Other Income (Expenses) | ||
Interest Expense | 0 | 0 |
Net Income (Loss) from Operations before Income Taxes | (3,213) | 788 |
Tax Expense | 0 | 0 |
Net Income (Loss) | $ (3,213) | $ 788 |
Basic and Diluted Loss Per Share | $ (0.0001) | $ 0 |
Weighted average number of shares outstanding | 25,000,000 | 25,591,497 |
Trimax Consulting, Inc. - Stat5
Trimax Consulting, Inc. - Statement of Shareholders' Equity - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings/ Accumulated Deficit | Total Stockholders' Equity |
Balance at beginning of period, Shares at May. 18, 2014 | 0 | |||
Balance at beginning of period, monetary at May. 18, 2014 | $ 0 | $ 0 | $ 0 | $ 0 |
Capital stock issuance, shares | 25,000,000 | |||
Capital stock issuance, monetary | $ 2,500 | (2,000) | 0 | 500 |
Net loss for the period | $ 0 | 0 | (3,213) | (3,213) |
Balance at end of period, shares at Dec. 31, 2014 | 25,000,000 | |||
Balances at end of period, monetary | $ 2,500 | (2,000) | (3,213) | (2,713) |
Net loss for the period | $ 0 | 0 | 788 | 788 |
Balance at end of period, shares at Dec. 31, 2015 | 25,957,500 | |||
Balances at end of period, monetary | $ 2,596 | 17,054 | (2,425) | 17,225 |
Sale of common stock, shares | 957,500 | |||
Sale of common stock, monetary | $ 96 | $ 19,054 | $ 0 | $ 19,150 |
Trimax Consulting, Inc. - Stat6
Trimax Consulting, Inc. - Statement of Cash Flows - USD ($) | 7 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Income (Loss) | $ (3,213) | $ 788 |
(Increase) decrease in tax liens | 0 | (1,248) |
Increase (decrease) in accrued expenses | 4,213 | 500 |
Increase (decrease) in deferred revenue | 1,000 | (1,000) |
Net Cash Used In Operating Activities | 2,000 | (960) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net cash provided (used) by investing activities | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Common stock issued | 500 | 19,150 |
Proceeds from related party loans | 4,500 | 0 |
Repayments to related party loans | 0 | (4,000) |
Net cash provided (used) by financing activities | 5,000 | 15,150 |
Increase in cash and equivalents | 7,000 | 14,190 |
Cash and cash equivalents at beginning of period | 0 | 7,000 |
Cash and cash equivalents at end of period | 7,000 | 21,190 |
Supplemental disclosure of cash flow information | ||
None | 0 | 0 |
Supplemental disclosure of non-cash investing and financing | ||
None | $ 0 | $ 0 |
Note 1. Organization, History a
Note 1. Organization, History and Business | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 1. Organization, History and Business | Note 1. Organization, History and Business Trimax Consulting, Inc. (the Company) was incorporated in Nevada on May 19, 2014. The Company was established for the purpose of real estate consulting and the purchasing of Tax Liens. |
Note 2. Summary of Significant
Note 2. Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 2. Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Revenue Recognition Revenue is derived from sales of products to distributors and consumers. Revenue is recognized in accordance with Staff Accounting Bulletin (SAB) No. 101, Revenue Recognition in Financial Statements, as revised by SAB No. 104. As such, the Company recognizes revenue when persuasive evidence of an arrangement exists, title transfer has occurred, the price is fixed or readily determinable, and collectability is probable. Sales are recorded net of sales discounts and terms are recorded by contract. Accounts Receivable Accounts receivable is reported at the customers outstanding balances, less any allowance for doubtful accounts. Interest is not accrued on overdue accounts receivable. Allowance for Doubtful Accounts An allowance for doubtful accounts on accounts receivable is charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and information collected from individual customers. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. Stock Based Compensation When applicable, the Company will account for stock-based payments to employees in accordance with ASC 718, Stock Compensation (ASC 718). Stock-based payments to employees include grants of stock, grants of stock options and issuance of warrants that are recognized in the consolidated statement of operations based on their fair values at the date of grant. The Company accounts for stock-based payments to non-employees in accordance with ASC 505-50, Equity-Based Payments to Non-Employees. Stock-based payments to non-employees include grants of stock, grants of stock options and issuances of warrants that are recognized in the consolidated statement of operations based on the value of the vested portion of the award over the requisite service period as measured at its then-current fair value as of each financial reporting date. The Company calculates the fair value of option grants and warrant issuances utilizing the Binomial pricing model. The amount of stock-based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. ASC 718 requires forfeitures to be estimated at the time stock options are granted and warrants are issued to employees and non-employees, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term forfeitures is distinct from cancellations or expirations and represents only the unvested portion of the surrendered stock option or warrant. The Company estimates forfeiture rates for all unvested awards when calculating the expense for the period. In estimating the forfeiture rate, the Company monitors both stock option and warrant exercises as well as employee termination patterns. The resulting stock-based compensation expense for both employee and non-employee awards is generally recognized on a straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. Loss per Share The Company reports earnings (loss) per share in accordance with ASC Topic 260-10, "Earnings per Share." Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings (loss) per share has not been presented since there are no dilutive securities. Cash and Cash Equivalents For purpose of the statements of cash flows, the Company considers cash and cash equivalents to include all stable, highly liquid investments with maturities of three months or less. Concentration of Credit Risk The Company primarily transacts its business with one financial institution. The amount on deposit in that one institution may from time to time exceed the federally-insured limit. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Business segments ASC 280, Segment Reporting requires use of the management approach model for segment reporting. The management approach model is based on the way a companys management organizes segments within the company for making operating decisions and assessing performance. The Company determined it has one operating segment as of December 31, 2015. Investment in Real Property Tax Liens The investments in real property tax liens are accounted for as investments in troubled debt and are carried at cost. Collection of interest, penalties and expense reimbursements is not certain and is recognized upon being realized. The Company has evaluated the collectability of the tax liens and believes the investments are realizable over time as the first position liens are secured by the related real property and the estimated fair value of the real property is in excess of the carrying value of the tax liens and the estimated cost to foreclose and sell the real property. Therefore no impairment was recognized on the tax liens as of December 31, 2015. Income Taxes The Company accounts for its income taxes under the provisions of ASC Topic 740, Income Taxes. The method of accounting for income taxes under ASC 740 is an asset and liability method. The asset and liability method requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between tax bases and financial reporting bases of other assets and liabilities. Emerging growth Company We are an emerging growth company as that term is used in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act) and, as such, may elect to comply with certain reduced public company reporting requirements for future filings. Recent Accounting Pronouncements On June 10, 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) in its entirety from current accounting guidance. The Company has elected early adoption of this new standard. The Company has implemented all other new accounting pronouncements that are in effect and that may impact its consolidated 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. |
Note 3. Income Taxes
Note 3. Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 3. Income Taxes | Note 3. Income Taxes Deferred income tax assets and liabilities are computed annually for differences between financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. The effective tax rate on the net loss before income taxes differs from the U.S. statutory rate as follows: 12/31/2015 12/31/2014 U.S. statutory rate 34.00% 34.00% Less valuation allowance -34.00% -34.00% Effective tax rate 0.00% 0.00% The significant components of deferred tax assets and liabilities are as follows: 12/31/2015 12/31/2014 Deferred tax assets Net operating losses $(2,425) $(3,213) Deferred tax liability Net deferred tax assets 825 (1,092) Less valuation allowance (825) 1,092 Deferred tax asset - net valuation allowance $ 0 $ 0 As of December 31, 2015, the Company had net operating losses and has $(2,425) available to offset future income for income tax reporting purposes, which will expire in various years through 2032, if not previously utilized. However, the Companys ability to use the carryover net operating loss may be substantially limited or eliminated pursuant to Internal Revenue Code Section 382.The Company adopted the provisions of ASC 740-10-50, formerly FIN 48, and Accounting for Uncertainty in Income Taxes. The Company had no material unrecognized income tax assets or liabilities as of December 31, 2015. The Companys policy regarding income tax interest and penalties is to expense those items as general and administrative expense but to identify them for tax purposes. During the period May 19, 2014 (inception) through December 31. 2015, there were no income tax, or related interest and penalty items in the income statement, or liabilities on the balance sheet. The Company files income tax returns in the U.S. federal jurisdiction and Nevada state jurisdiction. We are not currently involved in any income tax examinations. |
Note 4. Related Party Transacti
Note 4. Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 4. Related Party Transactions | Note 4. Related Party Transactions Oeshadebie Waterford has lent the company a net total of $500 to the company for the period from May 19, 2014 to December 31, 2015. These funds have been used for working capital to date. |
Note 5. Stockholders' Equity
Note 5. Stockholders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 5. Stockholders' Equity | Note 5. Stockholders Equity Common Stock The holders of the Company's common stock are entitled to one vote per share of common stock held. The Company recorded a 5 for 1 forward split on May 18, 2015. All prior periods have been restated to reflect this transaction. As of December 31, 2015 the Company had 25,957,500 shares issued and outstanding. |
Note 6. Commitments and Conting
Note 6. Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 6. Commitments and Contingencies | Note 6. Commitments and Contingencies Commitments: The Company currently has no long term commitments as of our balance sheet date. Contingencies: None as of our balance sheet date. |
Note 7 - Net Income (loss) Per
Note 7 - Net Income (loss) Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 7 - Net Income (loss) Per Share | Note 7 Net Income (Loss) Per Share The following table sets forth the information used to compute basic and diluted net income per share attributable to Carbon Credit International, Inc. for the years ended December 31, 2015: Year ended December 31, 2015 For the period from May 19, 2014 (Inception) to December 31, 2014 Net Income (Loss) $ 788 $ (3,213) Weighted-average common shares outstanding - basic: Weighted-average common stock equivalents 25,469,917 25,000,000 Stock options 0 0 Warrants 0 0 Convertible Notes 0 0 Weighted-average common shares outstanding - Diluted 25,469,917 25,000,000 |
Note 8 - Notes Payable
Note 8 - Notes Payable | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 8 - Notes Payable | Note 8 Notes Payable Notes payable consist of the following for the periods ended December 31, 2015 and 2014: Year ended December 31, 2015 For the period from May 19, 2014 (Inception) to December 31, 2014 Related party working capital note with no stated interest rate. Note is payable on demand. $ 500 $ 4,500 Total Notes Payable 500 4,500 Less Current Portion (500) (4,500) Long Term Notes Payable $ 0 $ 0 |
Note 9 - Going Concern
Note 9 - Going Concern | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 9 - Going Concern | Note 9 - Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Currently, the Company has no operating history and has limited working capital. These factors raise substantial doubt about the Companys ability to continue as a going concern. Management believes that the Companys capital requirements will depend on many factors including the success of the Companys development efforts and its efforts to raise capital. Management also believes the Company needs to raise additional capital for working capital purposes. There is no assurance that such financing will be available in the future. The conditions described above raise substantial doubt about our ability to continue as a going concern. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Note 10 - Investments
Note 10 - Investments | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 10 - Investments | Note 10 - Investments Investment in Available for Sale Debt Securities Debt Securities Cost Basis Unrealized Gains Unrealized Losses Fair Value Corporate Debt Securities $1,231 $ 17 $ 0 $1,248 Investment in Real Property Tax Liens |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
Note 11 - Subsequent Events | Note 11 - Subsequent Events In January 2016, the Company purchased land at a cost of $2,000 in Sullivan County, New York. There are no additional subsequent events. |
Note 2. Summary of Significan18
Note 2. Summary of Significant Accounting Policies: Revenue Recognition (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Revenue Recognition | Revenue Recognition Revenue is derived from sales of products to distributors and consumers. Revenue is recognized in accordance with Staff Accounting Bulletin (SAB) No. 101, Revenue Recognition in Financial Statements, as revised by SAB No. 104. As such, the Company recognizes revenue when persuasive evidence of an arrangement exists, title transfer has occurred, the price is fixed or readily determinable, and collectability is probable. Sales are recorded net of sales discounts and terms are recorded by contract. |
Note 2. Summary of Significan19
Note 2. Summary of Significant Accounting Policies: Accounts Receivable (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Accounts Receivable | Accounts Receivable Accounts receivable is reported at the customers outstanding balances, less any allowance for doubtful accounts. Interest is not accrued on overdue accounts receivable. |
Note 2. Summary of Significan20
Note 2. Summary of Significant Accounting Policies: Allowance For Doubtful Accounts (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts An allowance for doubtful accounts on accounts receivable is charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and information collected from individual customers. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. |
Note 2. Summary of Significan21
Note 2. Summary of Significant Accounting Policies: Stock Based Compensation (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Stock Based Compensation | Stock Based Compensation When applicable, the Company will account for stock-based payments to employees in accordance with ASC 718, Stock Compensation (ASC 718). Stock-based payments to employees include grants of stock, grants of stock options and issuance of warrants that are recognized in the consolidated statement of operations based on their fair values at the date of grant. The Company accounts for stock-based payments to non-employees in accordance with ASC 505-50, Equity-Based Payments to Non-Employees. Stock-based payments to non-employees include grants of stock, grants of stock options and issuances of warrants that are recognized in the consolidated statement of operations based on the value of the vested portion of the award over the requisite service period as measured at its then-current fair value as of each financial reporting date. The Company calculates the fair value of option grants and warrant issuances utilizing the Binomial pricing model. The amount of stock-based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. ASC 718 requires forfeitures to be estimated at the time stock options are granted and warrants are issued to employees and non-employees, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term forfeitures is distinct from cancellations or expirations and represents only the unvested portion of the surrendered stock option or warrant. The Company estimates forfeiture rates for all unvested awards when calculating the expense for the period. In estimating the forfeiture rate, the Company monitors both stock option and warrant exercises as well as employee termination patterns. The resulting stock-based compensation expense for both employee and non-employee awards is generally recognized on a straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. |
Note 2. Summary of Significan22
Note 2. Summary of Significant Accounting Policies: Loss Per Share (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Loss Per Share | Loss per Share The Company reports earnings (loss) per share in accordance with ASC Topic 260-10, "Earnings per Share." Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings (loss) per share has not been presented since there are no dilutive securities. |
Note 2. Summary of Significan23
Note 2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents For purpose of the statements of cash flows, the Company considers cash and cash equivalents to include all stable, highly liquid investments with maturities of three months or less. |
Note 2. Summary of Significan24
Note 2. Summary of Significant Accounting Policies: Concentration of Credit Risk (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Concentration of Credit Risk | Concentration of Credit Risk The Company primarily transacts its business with one financial institution. The amount on deposit in that one institution may from time to time exceed the federally-insured limit. |
Note 2. Summary of Significan25
Note 2. Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Note 2. Summary of Significan26
Note 2. Summary of Significant Accounting Policies: Business Segments (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Business Segments | Business segments ASC 280, Segment Reporting requires use of the management approach model for segment reporting. The management approach model is based on the way a companys management organizes segments within the company for making operating decisions and assessing performance. The Company determined it has one operating segment as of December 31, 2015. Investment in Real Property Tax Liens The investments in real property tax liens are accounted for as investments in troubled debt and are carried at cost. Collection of interest, penalties and expense reimbursements is not certain and is recognized upon being realized. The Company has evaluated the collectability of the tax liens and believes the investments are realizable over time as the first position liens are secured by the related real property and the estimated fair value of the real property is in excess of the carrying value of the tax liens and the estimated cost to foreclose and sell the real property. Therefore no impairment was recognized on the tax liens as of December 31, 2015. |
Note 2. Summary of Significan27
Note 2. Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Income Taxes | Income Taxes The Company accounts for its income taxes under the provisions of ASC Topic 740, Income Taxes. The method of accounting for income taxes under ASC 740 is an asset and liability method. The asset and liability method requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between tax bases and financial reporting bases of other assets and liabilities. |
Note 2. Summary of Significan28
Note 2. Summary of Significant Accounting Policies: Emerging Growth Company (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Emerging Growth Company | Emerging growth Company We are an emerging growth company as that term is used in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act) and, as such, may elect to comply with certain reduced public company reporting requirements for future filings. |
Note 2. Summary of Significan29
Note 2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements On June 10, 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) in its entirety from current accounting guidance. The Company has elected early adoption of this new standard. The Company has implemented all other new accounting pronouncements that are in effect and that may impact its consolidated 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. |
Note 3. Income Taxes_ Schedule
Note 3. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | 12/31/2015 12/31/2014 U.S. statutory rate 34.00% 34.00% Less valuation allowance -34.00% -34.00% Effective tax rate 0.00% 0.00% |
Note 3. Income Taxes_ Schedul31
Note 3. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | 12/31/2015 12/31/2014 Deferred tax assets Net operating losses $(2,425) $(3,213) Deferred tax liability Net deferred tax assets 825 (1,092) Less valuation allowance (825) 1,092 Deferred tax asset - net valuation allowance $ 0 $ 0 |
Note 7 - Net Income (loss) Pe32
Note 7 - Net Income (loss) Per Share: Schedule of basic and diluted net income per share attributable to CarbonCredit International, Inc. (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Tables/Schedules | |
Schedule of basic and diluted net income per share attributable to CarbonCredit International, Inc. | Year ended December 31, 2015 For the period from May 19, 2014 (Inception) to December 31, 2014 Net Income (Loss) $ 788 $ (3,213) Weighted-average common shares outstanding - basic: Weighted-average common stock equivalents 25,469,917 25,000,000 Stock options 0 0 Warrants 0 0 Convertible Notes 0 0 Weighted-average common shares outstanding - Diluted 25,469,917 25,000,000 |
Note 8 - Notes Payable_ Schedul
Note 8 - Notes Payable: Schedule of Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Tables/Schedules | |
Schedule of Accounts Payable and Accrued Liabilities | Year ended December 31, 2015 For the period from May 19, 2014 (Inception) to December 31, 2014 Related party working capital note with no stated interest rate. Note is payable on demand. $ 500 $ 4,500 Total Notes Payable 500 4,500 Less Current Portion (500) (4,500) Long Term Notes Payable $ 0 $ 0 |
Note 10 - Investments_ Investme
Note 10 - Investments: Investment in Available for Sale Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Tables/Schedules | |
Investment in Available for Sale Debt Securities | Debt Securities Cost Basis Unrealized Gains Unrealized Losses Fair Value Corporate Debt Securities $1,231 $ 17 $ 0 $1,248 |
Note 3. Income Taxes_ Schedul35
Note 3. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Details | ||
U.S. statutory rate | 34.00% | 34.00% |
Tax Credit Carryforward, Valuation Allowance | $ (0.3400) | $ (0.3400) |
Effective tax rate | 0.00% | 0.00% |
Note 3. Income Taxes_ Schedul36
Note 3. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Details | ||
Net operating losses | $ (2,425) | $ (3,213) |
Deferred Tax Assets, Net of Valuation Allowance | 825 | (1,092) |
Deferred Tax Assets, Valuation Allowance, Current | (825) | 1,092 |
Deferred Tax Assets, Valuation Allowance | $ 0 | $ 0 |
Note 3. Income Taxes (Details)
Note 3. Income Taxes (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Details | ||
Accumulated deficit | $ (2,425) | $ (3,213) |
Note 4. Related Party Transac38
Note 4. Related Party Transactions (Details) | 19 Months Ended |
Dec. 31, 2015USD ($) | |
Details | |
Proceeds from Related Party Debt | $ 500 |
Note 7 - Net Income (loss) Pe39
Note 7 - Net Income (loss) Per Share: Schedule of basic and diluted net income per share attributable to CarbonCredit International, Inc. (Details) - USD ($) | 7 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Details | ||
Net Income (Loss) | $ (3,213) | $ 788 |
Weighted Average Number of Shares Issued, Basic | 25,000,000 | 25,469,917 |
Stock options | 0 | 0 |
Debt Conversion, Converted Instrument, Warrants or Options Issued | 0 | 0 |
Convertible Notes | 0 | 0 |
Weighted Average Number of Shares Outstanding, Diluted | 25,000,000 | 25,469,917 |
Note 8 - Notes Payable_ Sched40
Note 8 - Notes Payable: Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) | 7 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Details | ||
Related party working capital note | $ 4,500 | $ 500 |
Total Notes Payable | 4,500 | 500 |
Less Current Portion | (4,500) | (500) |
Long Term Notes Payable | $ 0 | $ 0 |
Note 10 - Investments (Details)
Note 10 - Investments (Details) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Details | |
Real property tax liens and accrued interest | $ 1,248 |
Tax lien products purchased during the year | $ 1,231 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details) | 1 Months Ended |
Jan. 31, 2016USD ($) | |
Details | |
Property, Plant and Equipment, Additions | $ 2,000 |