DD's Deluxe Rod Holder (DDLX) 10-Q/A 5 Dec 17 2017 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 14, 2017
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, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	Yes
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,000,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash	$ 12,917	$ 10,892
TOTAL CURRENT ASSETS	12,917	10,892
INTANGIBLE ASSETS	1,860	1,860
TOTAL ASSETS	14,777	12,752
CURRENT LIABILITIES:
Line of credit	48,449	30,449
Accounts payable	200
Legal fees payable	54,457	37,403
Accrued interest payable	3,333	2,021
TOTAL CURRENT LIABILITIES	106,439	69,873
TOTAL LIABILITIES	$ 106,439	$ 69,873
STOCKHOLDERS’ DEFICIT
Preferred Stock, $.001 par value; 20,000,000 shares authorized, none issued and outstanding
Common Stock, $.001 par value; 100,000,000 shares authorized; 4,000,000 shares issued and outstanding	$ 4,000	$ 4,000
Additional paid-in capital	$ 36,000	$ 36,000
Accumulated deficit	(131,662)	(97,121)
TOTAL STOCKHOLDERS’ DEFICIT	(91,662)	(57,121)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 14,777	$ 12,752

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - shares	Sep. 30, 2017	Dec. 31, 2016
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	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	4,000,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
OPERATING EXPENSE
Legal and professional	$ 5,631	$ 18,099	$ 4,111	$ 23,652
Accounting and audit	2,600	12,425	4,800	14,900
Transfer agent and public company	1,390	2,615	822	3,491
General and administrative	46	91	0
TOTAL OPERATING EXPENSE	9,667	33,230	8,089	42,043
LOSS FROM OPERATIONS	(9,667)	(33,230)	(8,089)	(42,043)
OTHER EXPENSE
Interest expense	501	1,311	402	1,617
TOTAL OTHER EXPENSE	501	1,311	402	1,617
NET LOSS	$ (10,168)	$ (34,541)	$ (8,491)	$ (43,660)
NET LOSS PER SHARE - BASIC AND DILUTED	$ 0	$ 0	$ 0	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED	4,000,000	4,000,000	4,000,000	3,562,044

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Statement of Cash Flows [Abstract]
Net loss	$ (34,541)	$ (43,660)
Changes in operating assets and liabilities
Accounts payable	200
Legal fees payable	17,054	17,534
Accrued interest payable	1,312	1,617
Advances payable	0	8,298
Net cash used in operating activities	(15,975)	(16,211)
Additions to other assets		(1,860)
Additions to other assets
Net cash used in investing activities		(1,860)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under line of credit	18,000	2,163
Proceeds from sale of common stock	0	30,000
Net cash provided by financing activities	18,000	32,163
NET INCREASE DECREASE IN CASH	2,025	14,092
CASH AT BEGINNING OF PERIOD	10,892
CASH AT END OF PERIOD	12,917	14,092
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Advances payable paid by line of credit	$ 0	$ 28,286

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 in the sport of ice fishing. The Company has selected December 31 as its fiscal year end.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
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, 2017, and the results of its operations and its cash flows for the nine months ended September 30, 2017 and 2016. The operating and financial results for the Company for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. Going Concern As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of September 30, 2017, 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 $131,662 and stockholders’ deficit of $91,662. The Company's working capital deficit is $93,522. 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. 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. Intangible Assets Intangible assets with definite lives are subject to amortization. At September 30, 2017, such intangible assets consist of fees paid to the United States Patent and Trademark Office on the filing of a non-provisional patent application which will be amortized on a straight-line basis over the patent life of 20 years, once approved. Intangible assets with definite lives are tested for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. These conditions may include an economic downturn, regulations, or a change in the assessment of future operations Start-up Costs In accordance with Accounting Standards Codification (“ASC”) 720-15-20, “Start-up Costs,” Office Space and Labor The Company’s sole Officer and Director will provide the labor required to execute the business plan and supply the necessary office space and facilities for the initial period of operations. The Company will recognize the fair value of services and office space provided by our sole Officer and Director as contributed capital in accordance with United State generally accepted accounting principles (“U.S. GAAP”). From inception through September 30, 2017, the fair value of services and office space provided was estimated to be nil. Fair Value Measures When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At September 30, 2017 and December 31, 2016, the Company had no assets or liabilities accounted for at fair value on a recurring or nonrecurring 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. Reclassifications Certain reclassifications have been made to the 2016 financial statements in order to conform to the 2017 presentation. These reclassifications have no effect on net loss, total assets or accumulated deficit as previously reported New Accounting Pronouncements In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update provides guidance on classification for cash receipts and payments related to eight specific issues. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of implementing this update on the financial statements. In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after the effective date. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

Line of Credit

Line of Credit	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
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 had the option to extend the term of the line of credit for an additional year to February 28, 2018 which was exercised. Interest accrues on the principal amount borrowed pursuant to the line of credit at the rate of five percent per annum. Interest expense for the three months ended July 31, 2017 and 2016, was $501 and $402, respectively. Interest expense for the nine months ended July 31, 2017 and 2016, was $1,311 and $1,617, respectively. Accrued interest payable at September 30, 2017 and December 31, 2016, was 3,333 and $2,021, respectively.

Stockholders Deficit

Stockholders Deficit	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders Deficit	Common Stock As of September 30, 2017, 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 $0.01 per share for $10,000 which was used for organizational costs and other working capital requirements. As of September 30, 2017, the Company had 4,000,000 shares of common stock issued and outstanding with a par value of $0.001 per share. Preferred Stock As of September 30, 2017, 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.

Significant Accounting Polici10

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
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, 2017, and the results of its operations and its cash flows for the nine months ended September 30, 2017 and 2016. The operating and financial results for the Company for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.
Going Concern	Going Concern As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of September 30, 2017, 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 $131,662 and stockholders’ deficit of $91,662. The Company's working capital deficit is $93,522. 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.
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.
Intangible Assets	Intangible Assets Intangible assets with definite lives are subject to amortization. At September 30, 2017, such intangible assets consist of fees paid to the United States Patent and Trademark Office on the filing of a non-provisional patent application which will be amortized on a straight-line basis over the patent life of 20 years, once approved. Intangible assets with definite lives are tested for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. These conditions may include an economic downturn, regulations, or a change in the assessment of future operations
Start-up Costs	Start-up Costs In accordance with Accounting Standards Codification (“ASC”) 720-15-20, “Start-up Costs,”
Office Space and Labor	Office Space and Labor The Company’s sole Officer and Director will provide the labor required to execute the business plan and supply the necessary office space and facilities for the initial period of operations. The Company will recognize the fair value of services and office space provided by our sole Officer and Director as contributed capital in accordance with United State generally accepted accounting principles (“U.S. GAAP”). From inception through September 30, 2017, the fair value of services and office space provided was estimated to be nil.
Fair Value Measures	Fair Value Measures When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At September 30, 2017 and December 31, 2016, the Company had no assets or liabilities accounted for at fair value on a recurring or nonrecurring 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.
Reclassifications	Reclassifications Certain reclassifications have been made to the 2016 financial statements in order to conform to the 2017 presentation. These reclassifications have no effect on net loss, total assets or accumulated deficit as previously reported
New Accounting Pronouncements	New Accounting Pronouncements In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update provides guidance on classification for cash receipts and payments related to eight specific issues. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of implementing this update on the financial statements. In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after the effective date. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.