DD's Deluxe Rod Holder (DDLX) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 11, 2016
Document And Entity Information
Entity Registrant Name	DD's Deluxe Rod Holder, Inc.
Entity Central Index Key	1,643,194
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
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 Common Stock, Shares Outstanding		4,000,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash	$ 14,092	$ 0
TOTAL CURRENT ASSETS	14,092	0
OTHER ASSETS	1,860	0
TOTAL ASSETS	15,952	0
CURRENT LIABILITIES:
Line of credit	30,449	0
Legal fees payable	35,140	17,606
Accrued interest payable	1,617	0
Advances payable	0	19,988
TOTAL CURRENT LIABILITIES	67,206	37,594
TOTAL LIABILITIES	$ 67,206	$ 37,594
STOCKHOLDERS’ 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; 4,000,000 and 1,000,000 shares issued and outstanding, respectively.	$ 4,000	$ 1,000
Additional paid-in capital	$ 36,000	$ 9,000
Accumulated deficit	(91,254)	(47,594)
TOTAL STOCKHOLDERS’DEFICIT	(51,254)	(37,594)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 15,952	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred Stock, $.001 par value, shares authorized	20,000,000	20,000,000
Preferred Stock, $.001 par value, shares 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	4,000,000	1,000,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
OPERATING EXPENSES
Legal expense	$ 4,111	$ 3,283	$ 23,652	$ 15,392
Accounting and audit fees	4,800	3,120	14,900	15,670
General and administrative	822	1,103	3,491	1,103
TOTAL OPERATING EXPENSES	8,089	7,506	42,043	32,165
LOSS FROM OPERATIONS	(8,089)	(7,506)	(42,043)	(32,165)
OTHER INCOME (EXPENSE)
Interest expense	402		1,617
NET LOSS	$ (8,491)	$ (7,506)	$ (43,660)	$ (32,165)
Basic and diluted loss per share	$ 0	$ (0.01)	$ (0.01)	$ (0.03)
Basic and diluted weighted average number shares outstanding	4,000,000	1,000,000	3,562,044	1,000,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (43,660)	$ (32,165)
Changes in operating assets and liabilities:
Legal fees payable	17,534	0
Accrued interest payable	1,617	0
Advances payable	8,298	24,641
Net cash used in operating activities	(16,211)	(7,524)
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to other assets	(1,860)
Net cash used in investing activities	(1,860)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on line of credit	2,163
Proceeds from sale of common stock	30,000
Net cash provided by financing activities	32,163
NET INCREASE (DECREASE) IN CASH	14,092	(7,524)
CASH – BEGINNING OF PERIOD	0	7,524
CASH – END OF PERIOD	14,092
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Advances payable paid by line of credit	$ 28,286

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2016
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 Accountng Policies

Significant Accountng Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accountng 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. In the opinion of management, the accompanying unaudited interim balance sheets and statements of operations and cash flows contain all adjustments, consisting of normal recurring items, necessary to present fairly, in all material respects, the financial position of the Company as of September 30, 2016, and the results of its operations and its cash flows for the three and nine months ended September 30, 2016 and 2015. The operating and financial results for the Company for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. Going Concern As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of September 30, 2016, 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 $91,254 and the Company's working capital is a negative $53,114. 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. 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 Costs,” Fair Value Measurements ASC Topic 820 "Fair Value Measurements" ("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 September 30, 2016, 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 debt 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.

Line of Credit

Line of Credit	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Line of Credit	NOTE 3 – LINE OF CREDIT 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 accrues on the principal amount borrowed pursuant to the line of credit at the rate of five percent per annum. Crest previously had made advances to the Company. As of March 1, 2016, advances payable of $28,286 were transferred into the line of credit. As of September, 30, 2016, the balance of the Line of Credit was $30,449. Accrued interest of $1,617 is also recorded. For the three and nine months ended September 30, 2016, the Company recognized interest expense of $402 and $1,617, respectively.

Stockholders Equity

Stockholders Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Stockholders Equity	NOTE 4 – STOCKHOLDERS’ EQUITY (DEFICIT) Common Stock On February 9, 2016, the Company issued 3,000,000 shares of its common stock at $0.01 per share for a total of $30,000. As of September 30, 2016, the Company had 4,000,000 shares of common stock issued and outstanding with a par value of $0.001 per share.

Significant Accountng Policies

Significant Accountng Policies (Policies)	9 Months Ended
	Sep. 30, 2016
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. In the opinion of management, the accompanying unaudited interim balance sheets and statements of operations and cash flows contain all adjustments, consisting of normal recurring items, necessary to present fairly, in all material respects, the financial position of the Company as of September 30, 2016, and the results of its operations and its cash flows for the three and nine months ended September 30, 2016 and 2015. The operating and financial results for the Company for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016.
Going Concern	Going Concern As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of September 30, 2016, 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 $91,254 and the Company's working capital is a negative $53,114. 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.
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 Costs,”
Fair Value Measurements	Fair Value Measurements ASC Topic 820 "Fair Value Measurements" ("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 September 30, 2016, 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 debt 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.