Broke Out (BRKO) 10-K 1 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 15, 2016	Dec. 04, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Broke Out Inc.
Entity Central Index Key	1,634,942
Trading Symbol	brko
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		31,984,125
Entity Public Float			$ 11,100,000
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current Assets
Cash	$ 3,762	$ 24,650
Total Current Assets	3,762	24,650
Fixed Assets
Property & Equipment, net of accumulated depreciation of $8,042 and $950, respectively.	29,119	19,602
Intangibles, net of accumulated depreciation of $1,768 and $171, respectively	5,633	7,595
TOTAL ASSETS	38,514	51,847
Current Liabilities
Accounts payable	12,458	18,545
Advances from related party		28,724
Total Current Liabilities	12,458	47,269
Total Liabilities	$ 12,458	$ 47,269
Commitment & Contingencies
Stockholders' Equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2015 and December 31, 2014, respectively
Common stock, $0.001 par value, 100,000,000 shares authorized; 27,200,000 and 15,000,000 shares issued and outstanding as of December 31, 2015 and December 31, 2014, respectively	$ 27,200	$ 15,000
Additional paid-in capital	80,415	(4,069)
Accumulated deficit	(81,559)	(6,353)
Total Stockholders' Equity	26,056	4,578
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 38,514	$ 51,847

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 19, 2014
Statement of Financial Position [Abstract]
Accumulated depreciation of property & equipment	$ 8,042	$ 950
Accumulated depreciation of intangibles	$ 1,768	$ 171
Preferred stock, par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000	100,000,000
Common stock, shares issued	27,200,000	15,000,000
Common stock, shares outstanding	27,200,000	15,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Net revenues from related party	$ 32,730	$ 26,532
Third-party Sales	98,785	4,182
Total Revenue	131,515	30,714
Cost of Goods Sold, related to third party sales	75,033	2,936
Gross Profit	56,482	27,778
Operating Expenses
Depreciation and Amortization	9,350	1,118
General and administrative expenses	62,906	32,937
Professional Fees	57,930
Total Operating Expenses	130,186	34,055
Other Expenses
Exchange Gain(Loss)	(1,502)	(32)
Total Other Expenses	(1,502)	(32)
Loss before Provision for Income Taxes	$ (75,206)	$ (6,309)
Provision for Income Taxes
Net Income (Loss)	$ (75,206)	$ (6,309)
Net Loss per Share: Basic and Diluted	$ 0	$ 0
Weighted Average Number of Shares Outstanding: Basic and Diluted	22,289,013	15,000,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2013			$ (44)	$ (44)
Balance (in shares) at Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued for Broke Out Ltd	$ 10,000	$ (10,000)
Stock issued for Broke Out Ltd (in shares)	10,000,000
Rent Contribution		5,931		5,931
Stock issued for cash	$ 5,000			5,000
Stock issued for cash (in shares)	5,000,000
Net loss			(6,309)	(6,309)
Balance at Dec. 31, 2014	$ 15,000	(4,069)	(6,353)	$ 4,578
Balance (in shares) at Dec. 31, 2014	15,000,000			15,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Rent Contribution		5,502		$ 5,502
Contributed Services		42,382		42,382
Stock issued for cash	$ 12,200	36,600		48,800
Stock issued for cash (in shares)	12,200,000
Net loss			(75,206)	(75,206)
Balance at Dec. 31, 2015	$ 27,200	$ 80,415	$ (81,559)	$ 26,056
Balance (in shares) at Dec. 31, 2015	27,200,000			27,200,000

Consolidated Statement of Stoc6

Consolidated Statement of Stockholders' Equity (Deficit) (Parentheticals) - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Statement of Stockholders' Equity [Abstract]
Price per share of stock issued for cash (in dollars per share)	$ 0.004	$ 0.004

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (75,206)	$ (6,309)
Adjustments to reconcile net loss to net cash used in operating activities
Contributed services	47,884	5,931
Depreciation and amortization expense	8,689	1,118
Changes in operating assets and liabilities:
Accounts payable	(6,087)	18,545
Net cash used by operating activities	(24,720)	19,285
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(18,249)	(26,352)
Net cash used in investing activities	(18,249)	(26,352)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from director	31,627	26,717
Repayments to director	(60,350)
Proceeds from sale of common stock	48,800	5,000
Net cash provided by financing activities	20,077	31,717
Effect of exchange rate changes on cash	2,004
Changes in cash during the period	(20,888)	24,650
Cash at beginning of period	24,650
Cash at end of period	$ 3,762	$ 24,650
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for taxes
Cash paid for interest

ORGANIZATION, DESCRIPTION OF BU

ORGANIZATION, DESCRIPTION OF BUSINESS AND PRINCIPLES OF CONSOLIDATION	12 Months Ended
	Dec. 31, 2015
Organization, Description of Business and Principles of Consolidation [Abstract]
ORGANIZATION, DESCRIPTION OF BUSINESS AND PRINCIPLES OF CONSOLIDATION	NOTE 1 – ORGANIZATION, DESCRIPTION OF BUSINESS AND PRINCIPLES OF CONSOLIDATION Broke Out Inc. was incorporated on December 19, 2014 in the State of Nevada for the purpose of designing, manufacturing, and selling street ware and gym fitness apparel to customers. The Company operates through its wholly-owned subsidiary, Broke Out, Ltd., company organized under the Laws of England and Wales that the Company purchased from its President, CEO and director, Jason Draper, for 10,000,000 shares of the Company’s common stock. Broke Out Ltd. was formed on August 29, 2014, and, before the Company acquired it, was owned and operated by Mr. Draper. Prior to forming Broke Out Ltd., Mr. Draper operated the business as a sole proprietor under the dba “Broke Out, Ltd.” He started the business on December 12, 2013 when he purchased a computer, started working on product designs and the company’s website. The first sales occurred in early 2014, prior to the formation of Broke Out, Ltd. Subsequently, Mr. Draper contributed the business assets and liabilities of his sole proprietorship into Broke Out, Ltd., in exchange for a 100% equity interest in the company. The Company then acquired Broke Out, Ltd. from Mr. Draper The consolidated financial statements include the financial statements of Broke Out Inc., its wholly-owned subsidiary Broke Out, Ltd, and Jason Draper doing business as Broke Out, Ltd. All significant inter-company balances and transactions have been eliminated upon consolidation.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The company was incorporated, for the purpose of designing, manufacturing, and selling street wear and gym fitness apparel to customers. The Company has elected December 31 as its fiscal year end. Basis of presentation The Company reports revenue and expenses using the accrual method of accounting for financial and tax reporting purposes. Earnings (Loss) Per Share Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report. Estimates and Assumptions Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Revenue Recognition We recognize revenue for both third party and related party sales in accordance with ASC 605-10 when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, prices are fixed or determinable, and collectability is reasonably assured. Revenue is recognized for sales transacted when the customer receives and pays for the merchandise at the register. For sales where we ship the merchandise to the customer revenue is recognized at the time the customer receives the product. Amounts related to shipping and handling that are billed to customers are recorded in net sales, and the related costs are recorded in cost of goods sold in the Consolidated Statement of Operations. Revenues are presented net of estimated returns and any taxes collected from customers and remitted to governmental authorities. Third party revenue is recognized gross on the sale and delivery of a product or the completion of a service provided. We make related party sales through our related party manufacturer, Gone Retro, on its e-commerce site. These revenues are shown net of cost of sales. We recognize related party sales on a net basis as our related party absorbs inventory and collection risk of loss. Classification of Expenses Cost of goods sold and occupancy expenses include the following: ● the cost of merchandise; ● inventory shortage and valuation adjustments; ● freight charges; ● shipping and handling costs; ● costs associated with our sourcing operations, including payroll and related benefits; ● production costs; ● insurance costs related to merchandise; and ● rent, occupancy, depreciation, and amortization related to our store operations, distribution centers, and certain corporate functions Inventory The company does not currently hold any inventory. Income Taxes The Company accounts for its income taxes in accordance with ASC No. 740, "Income Taxes". Under Statement 740, a liability method is used whereby deferred tax assets and liabilities are determined based on temporary differences between basis used for financial reporting and income tax reporting purposes. Income taxes are provided based on tax rates in effect at the time such temporary differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not, that the Company will not realize the tax assets through future operations. Depreciation, Amortization and Capitalization Property and equipment is stated at cost. Depreciation is computed by the straight-line method over estimated useful lives (3-7 years). Intellectual property assets are stated at their fair value acquisition cost. Amortization of intellectual property assets is calculated by the residual balance method over their estimated useful lives (15 years). Amortization of our website is calculated by the residual balance method over their estimated useful lives (5 years). Historical costs are reviewed and evaluated for the net realizable value of the assets. The carrying amount of all long-lived assets is evaluated periodically to determine if adjustment to the depreciation and amortization period or the unamortized balance is warranted. Based upon its most recent analysis, the Company believes that no impairment of long-lived assets existed at December 31, 2015 and 2014. Long-lived assets such as property and equipment and identifiable intangibles are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable. When required impairment losses on assets to be held and used are recognized based on the fair value of the asset. The fair value is determined based on estimates of future cash flows, market value of similar assets, if available, or independent appraisals, if required. If the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount and fair value of the asset. When fair values are not available, the Company estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets. We did not recognize any impairment losses for any periods presented. Foreign Currency Translation The functional currency of the Company is Great British Pounds (GBP). Assets and liabilities of our operations are translated into United States dollar equivalents using the exchange rates in effect at the balance sheet date. Revenues and expenses are translated using the average exchange rates during each period. Adjustments resulting from the process of translating foreign functional currency financial statements into U.S. dollars are included in accumulated other comprehensive income in common shareholders’ equity. These amounts were immaterial at December 31, 2015 and 2014. Foreign currency transaction gains and losses are included in current earnings and totaled $1,502 and $32 for the years ended December 31, 2015 and 2014, respectively. Recent Accounting Pronouncements The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 3 - PROPERTY AND EQUIPMENT Property consists of equipment purchased for the production of revenues. As of: December 31, December 31, 2015 2014 Equipment 37,161 20,552 Less accumulated depreciation 8,042 950 Equipment, net 29,119 19,602 Assets are depreciated over their useful lives beginning when placed in service. Depreciation expenses were $7,092 and $950 for each of the years ended December 31, 2015 and 2014 respectively.

INTANGIBLES

INTANGIBLES	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLES	NOTE 4 - INTANGIBLES Intangibles consisted of: December 31, December 31, 2015 2014 Website development 7,401 7,766 Less accumulated amortization 1,768 171 Intangibles, net 5,633 7,595 Intangible assets are amortized over their useful lives beginning when placed in service. Amortization expenses were $1,597 and $171 for the years ended December 31, 2015 and 2014 respectively.

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	NOTE 5 - PROVISION FOR INCOME TAXES For the years ended December 31, 2015 and 2014, the Company has incurred net losses and, therefore, has no tax liability. The net deferred tax assets generated by the loss carry-forwards has been fully reserved. The cumulative net operating loss carry-forward is approximately $81,559 at December 31, 2015, and will expire beginning in the year 2034. The provision for Federal income tax consists of the following for the years ended December 31, 2015 and 2014: 2015 2014 Federal income tax benefit attributable to: Current operations $ 81,515 $ 6,309 Less: valuation allowance (81,515 ) (6,309 ) Net provision for Federal income taxes $ - $ - The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows at December 31, 2015 and 2014: 2015 2014 Deferred tax asset attributable to: Net operating loss carryover $ 27,715 $ 2,145 Valuation allowance (27,715 ) (2,145 ) Net deferred tax asset $ - $ - Due to the change in ownership provisions of the Tax Reform Act of 1986, the net operating loss carry forwards for Federal income tax reporting purposes are subject to annual limitations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 - COMMITMENTS AND CONTINGENCIES The Company is not presently involved in any litigation. The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. The Company accrues for this service at a rate of £300GBP per month, which totaled $5,502 and $5,931 for the fiscal years ended December 31, 2015 and 2014, respectively, until which time the Officer becomes involved in other business activities not related to the Company. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2015
Going Concern [Abstract]
GOING CONCERN	NOTE 7 - GOING CONCERN As set forth on the Company's balance sheet, its assets total $38,514. This amount does not provide adequate working capital for the Company to successfully operate its business and to service its debt. Expenses incurred to the date of this prospectus are being recorded on the Company's books as they occur. This raises substantial doubt about its ability to continue as a going concern. Continuation of the Company as a going concern is dependent upon obtaining additional working capital. Management believes that the Company will be able to operate for the coming year by obtaining additional loans from directors and from equity funding, via proceeds raised from the offering set forth in this prospectus. However, there can be no assurances that management's plans will be successful.

SIGNIFICANT TRANSACTIONS WITH R

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES	NOTE 8 - SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES Gone Retro is owned and operated by our former President and CEO, Mr. Jason Draper. Total compensation paid to the director was $38,414 for the year ended December 31, 2015, which was recognized as contributed services in additional paid in capital. As of December 31, 2015, the balance of the amounts due from the director was $Nil, while the amount due was $28,724 as of December 31, 2014. During the fiscal year ended December 31, 2015, the Company recognized $42,382 in director salary as contributed services in Additional Paid In Capital. The amounts borrowed from the director during the year were unsecured, non-interest bearing, and had no specific terms of repayment. The Company neither owns nor formally leases any real or personal property, and an officer has provided office services without charge. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. We make related party sales through our related party manufacturer, Gone Retro, on its e-commerce site. For the years ended December 31, 2015 and 2014, these sales amounted to $32,730 and $26,532, respectively. These revenue amounts are shown net of cost of sales. On December 19, 2014, the Company’s founder, President and CEO, Jason Draper, acquired 5,000,000 common shares, at a price of $0.001 per share. On December 19, 2014, the Company’s founder, President and CEO, Jason Draper, sold his shares in Broke Out, Ltd to us in exchange for 10,000,000 shares of the Company’s common stock.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
CAPITAL STOCK	NOTE 9 – CAPITAL STOCK The Company was incorporated on December 19, 2014 in Nevada with authorized capital of 100,000,000 shares of $0.001 par value common stock and 10,000,000 shares of $0.001 par value preferred stock. On December 19, 2014, the Company issued 5,000,000 shares of common stock to the founder for cash proceeds of $5,000. On December 19, 2014, the Company purchased all of the issued and outstanding shares of Broke Out, Ltd. from our current officer and director, Jason Draper, in exchange for 10,000,000 shares of our common stock. As of June 30, 2015, the Company sold an aggregate of 12,200,000 shares of its common stock in its registered offering at a price of $0.004 per share resulting in proceeds to the Company of $48,800. There were 27,200,000 shares of common stock issued and outstanding at December 31, 2015. There were no shares of preferred stock issued and outstanding at December 31, 2015.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS In January 2016, we began considering a better business opportunity due to the difficulties in raising additional funding for our apparel business and burdened with the costs of remaining compliant with our reporting obligations. While we still own Broke Out, Ltd., and will continue to operate that business for the meantime, we believe we have located a business opportunity better suited for our shareholders, which is described below. We are therefore intending to dispose of the apparel business during the first or second quarter of 2016. As of this filing, we do not have any specific plans or arrangements for such disposal. On January 27, 2016, the Company entered into a Share Exchange Agreement with Digitrade Developments Ltd., a company organized under the laws of Belize, whereby the Company agreed to issue 4,625,000 shares of its common stock to Digitrade Developments in exchange for 100% of the issued and outstanding equity interests of Megapps Ventures Inc., a Nevada corporation. Megapps was incorporated in the State of Nevada on October 16, 2015. Digitrade Developments is controlled by Chan Set Kuan, an individual residing in Malaysia. On January 27, 2016, Jason Draper sold 15,000,000 common stock of the Company to Mr. Chan Set Kuan in a private transaction. Following the transaction Mr. Jason Draper and Sarah Burgin resigned as officers and directors of the Company. Mr. Chan is now the sole executive officer and sole member of the Board of Directors of the Company.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company reports revenue and expenses using the accrual method of accounting for financial and tax reporting purposes.
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report.
Estimates and Assumptions	Estimates and Assumptions Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Revenue Recognition	Revenue Recognition We recognize revenue for both third party and related party sales in accordance with ASC 605-10 when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, prices are fixed or determinable, and collectability is reasonably assured. Revenue is recognized for sales transacted when the customer receives and pays for the merchandise at the register. For sales where we ship the merchandise to the customer revenue is recognized at the time the customer receives the product. Amounts related to shipping and handling that are billed to customers are recorded in net sales, and the related costs are recorded in cost of goods sold in the Consolidated Statement of Operations. Revenues are presented net of estimated returns and any taxes collected from customers and remitted to governmental authorities. Third party revenue is recognized gross on the sale and delivery of a product or the completion of a service provided. We make related party sales through our related party manufacturer, Gone Retro, on its e-commerce site. These revenues are shown net of cost of sales. We recognize related party sales on a net basis as our related party absorbs inventory and collection risk of loss.
Classification of Expenses	Classification of Expenses Cost of goods sold and occupancy expenses include the following: ● the cost of merchandise; ● inventory shortage and valuation adjustments; ● freight charges; ● shipping and handling costs; ● costs associated with our sourcing operations, including payroll and related benefits; ● production costs; ● insurance costs related to merchandise; and ● rent, occupancy, depreciation, and amortization related to our store operations, distribution centers, and certain corporate functions
Inventory	Inventory The company does not currently hold any inventory.
Income Taxes	Income Taxes The Company accounts for its income taxes in accordance with ASC No. 740, "Income Taxes". Under Statement 740, a liability method is used whereby deferred tax assets and liabilities are determined based on temporary differences between basis used for financial reporting and income tax reporting purposes. Income taxes are provided based on tax rates in effect at the time such temporary differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not, that the Company will not realize the tax assets through future operations.
Depreciation, Amortization and Capitalization	Depreciation, Amortization and Capitalization Property and equipment is stated at cost. Depreciation is computed by the straight-line method over estimated useful lives (3-7 years). Intellectual property assets are stated at their fair value acquisition cost. Amortization of intellectual property assets is calculated by the residual balance method over their estimated useful lives (15 years). Amortization of our website is calculated by the residual balance method over their estimated useful lives (5 years). Historical costs are reviewed and evaluated for the net realizable value of the assets. The carrying amount of all long-lived assets is evaluated periodically to determine if adjustment to the depreciation and amortization period or the unamortized balance is warranted. Based upon its most recent analysis, the Company believes that no impairment of long-lived assets existed at December 31, 2015 and 2014. Long-lived assets such as property and equipment and identifiable intangibles are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable. When required impairment losses on assets to be held and used are recognized based on the fair value of the asset. The fair value is determined based on estimates of future cash flows, market value of similar assets, if available, or independent appraisals, if required. If the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount and fair value of the asset. When fair values are not available, the Company estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets. We did not recognize any impairment losses for any periods presented.
Foreign Currency Translation	Foreign Currency Translation The functional currency of the Company is Great British Pounds (GBP). Assets and liabilities of our operations are translated into United States dollar equivalents using the exchange rates in effect at the balance sheet date. Revenues and expenses are translated using the average exchange rates during each period. Adjustments resulting from the process of translating foreign functional currency financial statements into U.S. dollars are included in accumulated other comprehensive income in common shareholders’ equity. These amounts were immaterial at December 31, 2015 and 2014. Foreign currency transaction gains and losses are included in current earnings and totaled $1,502 and $32 for the years ended December 31, 2015 and 2014, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of property and equipment purchased	December 31, December 31, 2015 2014 Equipment 37,161 20,552 Less accumulated depreciation 8,042 950 Equipment, net 29,119 19,602

INTANGIBLES (Tables)

INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	December 31, December 31, 2015 2014 Website development 7,401 7,766 Less accumulated amortization 1,768 171 Intangibles, net 5,633 7,595

PROVISION FOR INCOME TAXES (Tab

PROVISION FOR INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of provision for federal income tax	2015 2014 Federal income tax benefit attributable to: Current operations $ 81,515 $ 6,309 Less: valuation allowance (81,515 ) (6,309 ) Net provision for Federal income taxes $ - $ -
Schedule of cumulative tax effect on net deferred tax	2015 2014 Deferred tax asset attributable to: Net operating loss carryover $ 27,715 $ 2,145 Valuation allowance (27,715 ) (2,145 ) Net deferred tax asset $ - $ -

ORGANIZATION, DESCRIPTION OF 22

ORGANIZATION, DESCRIPTION OF BUSINESS AND PRINCIPLES OF CONSOLIDATION (Detail Textuals) - Jason Draper - Broke Out, Ltd.	1 Months Ended
	Dec. 19, 2014shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of shares issued in transaction	10,000,000
Ownership percentage	100.00%

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation methods	Straight-line method
Intangible asset amortization method	Residual balance method
Foreign currency transaction gains and losses	$ 1,502	$ 32
Intellectual property
Summary Of Significant Accounting Policies [Line Items]
Intangible asset useful life	15 years
Website
Summary Of Significant Accounting Policies [Line Items]
Intangible asset useful life	5 years
Minimum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	7 years

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	$ 8,042	$ 950
Equipment, net	29,119	19,602
Equipment
Property, Plant and Equipment [Line Items]
Equipment	$ 37,161	$ 20,552

PROPERTY AND EQUIPMENT (Detail

PROPERTY AND EQUIPMENT (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 7,092	$ 950

INTANGIBLES (Details)

INTANGIBLES (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Accumulated depreciation of intangibles	$ 1,768	$ 171
Intangibles, net	5,633	7,595
Website
Finite-Lived Intangible Assets [Line Items]
Website development	$ 7,401	$ 7,766

INTANGIBLES (Detail Textuals)

INTANGIBLES (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 1,597	$ 171

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Federal income tax benefit attributable to:
Current operations	$ 81,515	$ 6,309
Less: valuation allowance	$ (81,515)	$ (6,309)
Net provision for Federal income taxes

PROVISION FOR INCOME TAXES (D29

PROVISION FOR INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred tax asset attributable to:
Net operating loss carryover	$ 27,715	$ 2,145
Valuation allowance	$ (27,715)	$ (2,145)
Net deferred tax asset

PROVISION FOR INCOME TAXES (D30

PROVISION FOR INCOME TAXES (Detail Textuals)	12 Months Ended
	Dec. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carry-forward	$ 81,559
Federal tax rate	34.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail Textuals)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015GBP (£)	Dec. 31, 2014USD ($)
Commitments and Contingencies Disclosure [Abstract]
Accrual amount of service agreement per month	$ 5,502	£ 300	$ 5,931

GOING CONCERN (Detail Textual)

GOING CONCERN (Detail Textual) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Going Concern [Abstract]
Total assets	$ 38,514	$ 51,847

SIGNIFICANT TRANSACTIONS WITH33

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES (Detail Textuals) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 19, 2014	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Total compensation paid to the director		$ 38,414
Due from director			$ 28,724
Net revenues from related party		32,730	$ 26,532
Contributed Services		$ 42,382
Jason Draper
Related Party Transaction [Line Items]
Number of shares acquired	5,000,000
Share price of shares acquired (in dollars per share)	$ 0.001
Jason Draper | Broke Out, Ltd.
Related Party Transaction [Line Items]
Number of shares issued in transaction	10,000,000

CAPITAL STOCK (Detail Textuals)

CAPITAL STOCK (Detail Textuals) - USD ($)	1 Months Ended		12 Months Ended
	Jun. 30, 2015	Dec. 19, 2014	Dec. 31, 2015	Dec. 31, 2014
Equity [Line Items]
Common stock, par value		$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized		100,000,000	100,000,000	100,000,000
Preferred stock, par value		$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized		10,000,000	10,000,000	10,000,000
Number of shares issued for cash	12,200,000
Proceeds of common stock issued	$ 48,800		$ 48,800	$ 5,000
Price per share	$ 0.004		$ 0.004
Common stock, shares issued			27,200,000	15,000,000
Common stock, shares outstanding			27,200,000	15,000,000
Preferred stock, shares issued			0	0
Preferred stock, shares outstanding			0	0
Jason Draper | Broke Out, Ltd.
Equity [Line Items]
Number of shares issued in transaction		10,000,000
Founder
Equity [Line Items]
Number of shares issued for cash		5,000,000
Proceeds of common stock issued		$ 5,000

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - Subsequent Event	1 Months Ended
	Jan. 27, 2016shares
Jason Draper | Mr. Chan Set Kuan
Subsequent Event [Line Items]
Number of shares sold	15,000,000
Share Exchange Agreement | Digitrade Developments Ltd.
Subsequent Event [Line Items]
Number of shares issued in exchange of issued and outstanding equity interests	4,625,000
Percentage of issued and outstanding equity interests of Megapps Ventures Inc.	100.00%