DD's Deluxe Rod Holder (DDLX) 10-K 15 Apr 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Apr. 14, 2016	Jun. 30, 2015
Document And Entity Information
Entity Registrant Name	DD's Deluxe Rod Holder, Inc.
Entity Central Index Key	1,643,194
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		4,000,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash	$ 0	$ 7,524
TOTAL CURRENT ASSETS	0	7,524
TOTAL ASSETS	0	7,524
CURRENT LIABILITIES:
Accounts payable	17,606	5,765
Advances payable	19,988	0
TOTAL CURRENT LIABILITIES	37,594	5,765
TOTAL LIABILITIES	$ 37,594	$ 5,765
STOCKHOLDER'S EQUITY (DEFICIT)
Preferred Stock, $.001 par value; 20,000,000 shares authorized, none issued and outstanding	$ 0	$ 0
Common Stock, $.001 par value; 100,000,000 shares authorized; 1,000,000 and 1,000,000 shares issued and outstanding, respectively	$ 1,000	$ 1,000
Additional paid-in capital	$ 9,000	$ 9,000
Accumulated deficit	(47,594)	(8,241)
TOTAL STOCKHOLDER’S EQUITY (DEFICIT)	(37,594)	1,759
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT)	$ 0	$ 7,524

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, $.001 par value, shares authorized	20,000,000	20,000,000
Preferred stock, $.001 par value, issued and outstanding	0	0
Common stock, $.001 par value, shares authorized	100,000,000	100,000,000
Common stock, $.001 par value, shares issued and outstanding	1,000,000	1,000,000

Statements of Operations

Statements of Operations - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
OPERATING EXPENSES
Organizational expenses	$ 2,862	$ 0
Legal and professional fees	4,875	19,980
Accounting and audit	200	18,270
Licenses and fees	289	700
Other operating expenses	15	403
TOTAL OPERATING EXPENSES	8,241	39,353
NET LOSS	$ (8,241)	$ (39,353)
NET LOSS PER SHARE - BASIC AND DILUTED	$ (0.03)	$ (0.04)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED	1,000,000	1,000,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
OPERATING ACTIVITIES:
Net loss	$ (8,241)	$ (39,353)
Changes in operating assets and liabilities
Accounts payable	$ 5,765	17,606
Advances payable		19,988
Net cash used in operating activities	$ (2,476)	(7,524)
FINANCING ACTIVITIES:
Proceeds from sale of common stock	10,000	0
Net cash provided by financing activities	10,000	0
NET INCREASE (DECREASE) IN CASH	7,524	(7,524)
CASH – BEGINNING OF PERIOD	0	7,524
CASH – END OF PERIOD	$ 7,524	$ 0

Shareholders Equity

Shareholders Equity - 12 months ended Dec. 31, 2015 - USD ($)	Common Stock	Additional Paid-In Capital	Retained Earnings / Accumulated Deficit	Total
Net loss	$ 0	$ 0	$ (39,353)	$ (39,353)
Balance	$ 1,000	$ 9,000	$ (47,594)	$ (37,594)
Balance, in shares at Dec. 31, 2015	1,000,000

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NOTE 1 - NATURE OF OPERATIONS DD’s Deluxe Rod Holder, Inc. (“Deluxe” or the “Company”) was incorporated on September 26, 2014 under the laws of the State of Nevada. The business purpose of the Company is to sell, through its website, Deluxerodholder.com, a fishing rod holder primarily for use the sport of ice fishing. The Company has selected December 31 as its fiscal year end.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States. Going Concern As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of December 31, 2015, the Company has no financial resources with which to achieve its objectives and obtain profitability and positive cash flows. As shown in the accompanying balance sheets and statements of operations, the Company has an accumulated deficit of $47,594, and the Company's working capital is a negative $37,594. Achievement of the Company's objectives will be dependent upon the ability to obtain additional financing, and generate revenue from current and planned business operations, and control costs. The Company is in the development stage and has generated no operating income. The Company plans to fund its future operations by joint venturing or obtaining additional financing from investors and/or lenders. However there is no assurance that the Company will be able to achieve these objectives, therefore substantial doubt about its ability to continue as a going concern exists. The financial statements do not include adjustments relating to the recoverability of recorded assets nor the implications of associated bankruptcy costs should the Company be unable to continue as a going concern. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management assumptions and estimates relate to valuation of deferred tax. Actual results could differ from these estimates and assumptions and could have a material effect on the Company’s reported financial position and results of operations. New Accounting Pronouncement In August 2014, the FASB issued ASU No. 2014-15—Presentation of Financial Statements—Going Concern. The guidance requires an entity’s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). If conditions or events exist that raise substantial doubt about an entity’s ability to continue as a going concern, the guidance requires disclosure in the financial statements. The guidance will be effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new standard and its impact on the Company’s financial statements. Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid investments with original maturities of three months or less when acquired to be cash equivalents. Start-up Costs In accordance with ASC 720-15-20, “Start-up Activities,” Fair Value Measures ASC Topic 820 "Fair Value Measurements and Disclosures" ("ASC 820") requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2: Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quote prices for similar assets or liabilities in active markets; quoted prices for identical assets in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3: Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. At December 31, 2015, the Company had no assets or liabilities accounted for at fair value on a recurring basis. Loss Per Share Basic Earnings Per Share ("EPS") is computed as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options and warrants. The Company has no potentially dilutive securities such as options, warrants, or convertible bonds currently issued and outstanding. Consequently, basic and diluted earnings per share are the same, as shown in the Statement of Operations. Income Taxes The Company recognizes provision for income tax using the liability method. Deferred income tax liabilities or assets at the end of each period are determined using the tax rates expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of these deferred tax assets will not be realized. New Accounting Pronouncement In August 2014, the FASB issued ASU No. 2014-15—Presentation of Financial Statements—Going Concern. The guidance requires an entity’s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). If conditions or events exist that raise substantial doubt about an entity’s ability to continue as a going concern, the guidance requires disclosure in the financial statements. The guidance will be effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new standard and its impact on the Company’s financial statements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 3 - INCOME TAXES There was no income tax expense for the periods ended December 31, 2015 and 2014 due to the Company’s net losses. The components of the Company's net deferred tax asset is as follows: December 31, 2015 December 31, 2014 Deferred tax asset Federal net operating losses $ 16,658 $ 2,884 Total deferred tax assets 16,658 2,884 Deferred tax liability - - Net deferred tax asset 16,658 2,884 Valuation allowance (16,658) (2,884) DEFERRED TAX ASSET $ - $ - Deferred income taxes arise from timing differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. A deferred tax asset valuation allowance is recorded when it is more likely than not that deferred tax assets will not be realized. As management of the Company cannot determine that it is more likely than not that the Company will realize the benefit of the net deferred tax asset, a valuation allowance equal to 100% of the net deferred tax asset has been recorded at December 31, 2015 and 2014. The effective tax rate was 0% for the years ended December 31, 2015 and 2014. A reconciliation between the statutory federal income tax rate and the Company's tax provision is as follows: December 31, 2015 2014 Expected income tax benefit $ (13,774) (35%) $ (2,884) (35%) Non-recognition due to increase in valuation account 13,774 35% 2,884 35% Total income tax benefit $ - $ -% $ - -% At December 31, 2015 and 2014, respectively, the Company had federal and state net operating loss carry forwards of approximately $13,774 and $2,884 which will expire in fiscal years ending December 31, 2029 through December 31, 2030. The Company has concluded that the guidance regarding accounting for uncertainty in income taxes had no significant impact on its results of operations or financial position as of December 31, 2015 or 2014. Therefore, the Company does not have an accrual for uncertain tax positions as December 31, 2015 or 2014. As a result, tabular reconciliation of beginning and ending balances would not be meaningful. If interest and penalties were to be assessed, the Company would charge interest to interest expense, and penalties to other operating expense. It is not anticipated that unrecognized tax benefits would significantly increase or decrease within 12 months of the reporting date. Fiscal years starting December 31, 2014 through December 31, 2015 are open to examination by federal and state taxing agencies.

Stockholder's Equity (Deficit)

Stockholder's Equity (Deficit)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholder's Equity (Deficit)	NOTE 4 – STOCKHOLDER’S EQUITY (DEFICIT) Common Stock As of December 31, 2015, the Company has 100,000,000 shares of common stock authorized with a par value of $0.001 per share. Founder’s shares of 1,000,000 were issued during 2014 at a price of $0.001 per share for $10,000 which was used for organizational costs and other working capital requirements. Preferred Stock As of December 31, 2015, the Company has 20,000,000 shares of preferred stock authorized with a par value of $0.001 per share. No preferred shares are issued and outstanding.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 5- SUBSEQUENT EVENTS On March 1, 2016, the Company entered into a short term line of credit agreement with Crest Business Solutions, LLC (“Crest”). The agreement provides that Crest will provide the Company with up to $50,000 via the line of credit. All amounts borrowed by the Company pursuant to the line of credit will be due and payable (with accrued interest thereon) in one balloon payment on February 28, 2017. The Company has the option to extend the term of the line of credit for an additional year to February 28, 2018. Interest will accrue on the principal amount borrowed pursuant to the line of credit at the rate of five percent per annum. As of April 11, 2016, the Company has sold 3,000,000 shares of its common stock, which were registered via Form S-1 declared effective October 19, 2015, for a total of $30,000. No amount of the proceeds from the sale of the registered shares of common stock has been utilized by the Company.

Significant Accounting Polici12

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States.
Going Concern	Going Concern As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of December 31, 2015, the Company has no financial resources with which to achieve its objectives and obtain profitability and positive cash flows. As shown in the accompanying balance sheets and statements of operations, the Company has an accumulated deficit of $47,594, and the Company's working capital is a negative $37,594. Achievement of the Company's objectives will be dependent upon the ability to obtain additional financing, and generate revenue from current and planned business operations, and control costs. The Company is in the development stage and has generated no operating income. The Company plans to fund its future operations by joint venturing or obtaining additional financing from investors and/or lenders. However there is no assurance that the Company will be able to achieve these objectives, therefore substantial doubt about its ability to continue as a going concern exists. The financial statements do not include adjustments relating to the recoverability of recorded assets nor the implications of associated bankruptcy costs should the Company be unable to continue as a going concern.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management assumptions and estimates relate to valuation of deferred tax. Actual results could differ from these estimates and assumptions and could have a material effect on the Company’s reported financial position and results of operations.
New Accounting Pronouncement	New Accounting Pronouncement In August 2014, the FASB issued ASU No. 2014-15—Presentation of Financial Statements—Going Concern. The guidance requires an entity’s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). If conditions or events exist that raise substantial doubt about an entity’s ability to continue as a going concern, the guidance requires disclosure in the financial statements. The guidance will be effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new standard and its impact on the Company’s financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid investments with original maturities of three months or less when acquired to be cash equivalents.
Start-up Costs	Start-up Costs In accordance with ASC 720-15-20, “Start-up Activities,”
Fair Value Measures	Fair Value Measures ASC Topic 820 "Fair Value Measurements and Disclosures" ("ASC 820") requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2: Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quote prices for similar assets or liabilities in active markets; quoted prices for identical assets in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3: Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. At December 31, 2015, the Company had no assets or liabilities accounted for at fair value on a recurring basis.
Loss Per Share	Loss Per Share Basic Earnings Per Share ("EPS") is computed as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options and warrants. The Company has no potentially dilutive securities such as options, warrants, or convertible bonds currently issued and outstanding. Consequently, basic and diluted earnings per share are the same, as shown in the Statement of Operations.
Income Taxes	Income Taxes The Company recognizes provision for income tax using the liability method. Deferred income tax liabilities or assets at the end of each period are determined using the tax rates expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of these deferred tax assets will not be realized. New Accounting Pronouncement In August 2014, the FASB issued ASU No. 2014-15—Presentation of Financial Statements—Going Concern. The guidance requires an entity’s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). If conditions or events exist that raise substantial doubt about an entity’s ability to continue as a going concern, the guidance requires disclosure in the financial statements. The guidance will be effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the new standard and its impact on the Company’s financial statements.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net deferred tax assets	December 31, 2015 December 31, 2014 Deferred tax asset Federal net operating losses $ 16,658 $ 2,884 Total deferred tax assets 16,658 2,884 Deferred tax liability - - Net deferred tax asset 16,658 2,884 Valuation allowance (16,658) (2,884) DEFERRED TAX ASSET $ - $ -
Tax reconciliation	December 31, 2015 2014 Expected income tax benefit $ (13,774) (35%) $ (2,884) (35%) Non-recognition due to increase in valuation account 13,774 35% 2,884 35% Total income tax benefit $ - $ -% $ - -%

Income Taxes - Net deferred tax

Income Taxes - Net deferred tax assets (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred tax asset
Federal net operating losses	$ 16,658	$ 2,884
Total deferred tax assets	16,658	2,884
Deferred tax liability	0	0
Net deferred tax asset	16,658	2,884
Valuation allowance	(16,658)	(2,884)
DEFERRED TAX ASSET	$ 0	$ 0

Uncategorized Items - ddsde-201

Label	Element	Value
Shares issued for cash	us-gaap_StockIssuedDuringPeriodValueIssuedForCash	$ 10,000
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax	(8,241)
Balance	us-gaap_StockholdersEquityOther	1,759
Additional Paid-In Capital
Shares issued for cash	us-gaap_StockIssuedDuringPeriodValueIssuedForCash	9,000
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax	0
Balance	us-gaap_StockholdersEquityOther	9,000
Common Stock
Shares issued for cash	us-gaap_StockIssuedDuringPeriodValueIssuedForCash	1,000
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax	$ 0
Shares issued for cash, in shares	us-gaap_StockIssuedDuringPeriodSharesIssuedForCash	1,000,000
Shares, Issued	us-gaap_SharesIssued	1,000,000
Balance	us-gaap_StockholdersEquityOther	$ 1,000
Retained Earnings / Accumulated Deficit
Shares issued for cash	us-gaap_StockIssuedDuringPeriodValueIssuedForCash	0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax	(8,241)
Balance	us-gaap_StockholdersEquityOther	$ (8,241)