| Nature of Operations and Summary of Significant Accounting Policies | Note 1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES NATURE OF OPERATIONS Digital Donations Technologies,
Inc. (formerly Fishing Ridge Acquisition Corporation) (“DDTI”) was incorporated on May 21, 2015 under the laws of the
state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company intends to
develop and distribute creative and innovative fund raising technology and provide payment processing solutions connecting charities
and foundations with the consumer and corporate America. The Company anticipates developing fund raising solutions that will expand
and enhance the way charities and foundations reach donors. The Company perceives that through the process of integrating a donation
request as part of a financial transaction, retailers, e-tailers, ATM owners and service providers will have the ability to create
new, or enhance existing, cause marketing programs. RECAPITALIZATION On October 17, 2016, DDTI
entered into a merger with Digital Donations, Inc. (the “Company” and post-merger, the “Company” represents
the combined entity), which has resulted in the combination of the Company with DDTI through the issuance of 79,084,807 shares
of DDTI common stock to the shareholders of the Company on a one-for-one basis in exchange for 100% of the then issued and outstanding
shares of the Company’s common stock, and at which time the Company became a wholly owned subsidiary of DDTI. The Company
has accounted for this merger as a recapitalization, as DDTI at the time of the merger was a public shell company, with only nominal
assets and no operations of its own. The financial statements presented herein are that of Digital Donations, Inc. from its inception
through the date of the merger, at which point the net assets of DDTI were included and the equity section restated to that of
the DDTI. From the date of the merger and thereafter, these financial statements represent the financial position and results of
operations of the consolidated entity. BASIS OF PRESENTATION AND CONSOLIDATION The condensed consolidated
balance sheet as of September 30, 2017 and the condensed consolidated statements of operations and cash flows for the nine month
periods ended September 30, 2017 and 2016 have been prepared by the Company without audit. The condensed consolidated balance sheet
as of December 31, 2016 has been derived from the audited financial statements as of that date, but does not include all required
year-end disclosures. In the opinion of management, such statements include all adjustments considered necessary to present fairly
the Company’s financial position as of September 30, 2017 and December 31, 2016, and its results of operations and cash flows
for all periods presented. These condensed consolidated financial statements should be read in conjunction with the consolidated
financial statements and the notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended
December 31, 2016. The accompanying unaudited
condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (U.S.
GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they
do not include all information and footnotes required by U.S. GAAP for complete financial statements. Operating results for the
nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the fiscal year ending
December 31, 2017. Certain amounts in the
prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications
had no effect on reported consolidated net income (loss). GOING CONCERN The Company has incurred
operating losses since inception as it has sought to develop alternative payments and fundraising solutions to its target market.
As of September 30, 2017, the Company had an accumulated deficit of $(1,288,869) and a cash balance of $10,263. During the nine
months ended September 30, 2017 and the year ended December 31, 2016, respectively, the Company incurred net losses of $306,766
and $551,299, negative cash flows from operating activities of $286,684 and $360,332 and had shareholders’ deficits of $(107,039)
and $(74,773). These factors raise substantial doubt about the Company’s ability to continue as a going concern. The ability
of the Company to continue as a going concern is dependent on the Company’s ability to fund future operations through additional
financing from investors and/or lenders until such time as the Company can reach profitability. In 2017 through the date of this
filing, the Company had raised $274,500 in private placement subscriptions. However, there can be no assurance that the Company
will be successful in raising the additional funds needed. The financial statements do not include any adjustments that might be
necessary if the Company is unable to continue as a going concern. USE OF ESTIMATES The preparation of financial
statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period. Although these estimates are based upon management’s best knowledge
of current events and actions that the Company may undertake in the future, actual results could differ from those estimates. CASH AND CASH EQUIVALENTS Cash and cash equivalents
include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities
of 90 days or less. INCOME TAXES From its inception through
the date of the merger, Digital Donations, Inc. was taxed as an S Corporation under the Internal Revenue Code of the United States.
As such, its income or losses were passed through to its shareholders and therefore the benefits of losses or the liability for
any taxes due from income was the responsibility of the Company’s shareholders and not the Company. Upon completion of the
merger, the status of the Company automatically changed to that of a C Corporation and thus from that day forward, the Company
is responsible for all tax liabilities incurred or benefits obtained. Under ASC 740, “Income
Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences
between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax
assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that
some or all of the deferred tax assets will not be realized. As of June 30, 2017 and December 31, 2016, 100% of the net deferred
tax assets recorded were fully allowed for due to the uncertainty of the realization of net operating loss or carry forward prior
to expiration. RECLASSIFICATIONS Certain amounts in the
prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications
had no effect on reported consolidated net income (loss). LOSS PER COMMON SHARE Basic loss per common
share excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during
the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to
issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared
in the loss of the entity. As of September 30, 2017 and 2016, respectively, there were no outstanding dilutive securities. |
