Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 14, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | High Desert Holding Corp. | |
Entity Central Index Key | 0001665421 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 38,190,000 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2019 | |
Entity Emerging Growth | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity File Number | 333-212527 | |
Entity Incorporation State Code | NV | |
Entity Shell company | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash | $ 1,073 | $ 363 |
Prepaid professional fees | 0 | 2,150 |
Total current assets | 1,073 | 2,513 |
Total assets | 1,073 | 2,513 |
Current Liabilities | ||
Accrued director fees | 145,000 | 165,000 |
Accounts payable | 9,504 | 6,100 |
Related party accounts payable | 11,278 | 409 |
Total current liabilities | 165,782 | 171,509 |
Commitments and Contingencies | ||
Stockholders' Equity (Deficit) | ||
Preferred stock, $.001 par value, 5,000,000 shares authorized and no shares issued and outstanding | 0 | 0 |
Common stock, $.001 par value, 70,000,000 shares authorized and 38,190,000 and 37,990,000 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively | 38,190 | 37,990 |
Additional paid in capital | 1,089,452 | 1,049,652 |
Accumulated deficit | (1,292,351) | (1,256,638) |
Total stockholders' deficit | (164,709) | (168,996) |
Total liabilities and stockholders' deficit | $ 1,073 | $ 2,513 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ .001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ .001 |
Common stock, shares authorized | 70,000,000 | 70,000,000 |
Common stock, shares issued | 38,190,000 | 37,990,000 |
Common stock, shares outstanding | 38,190,000 | 37,990,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenue | ||||
Net revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Expenses | ||||
Refund of claim fees | 0 | 0 | 0 | (1,550) |
Gain on sale of equipment | (4,000) | (82,500) | (4,000) | (82,500) |
General and administrative | 18,914 | 23,512 | 39,713 | 45,871 |
Total operating expenses | 14,914 | (58,988) | 35,713 | (38,179) |
Income (loss) from operations | (14,914) | 58,988 | (35,713) | 38,179 |
Net income (loss) | $ (14,914) | $ 58,988 | $ (35,713) | $ 38,179 |
Net income (loss) per share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average shares outstanding - basic and diluted | 38,181,209 | 37,990,000 | 38,086,133 | 37,990,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes In Stockholders Equity (Deficit) (Unaudited) - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Dec. 31, 2017 | 37,990,000 | |||
Beginning balance, value at Dec. 31, 2017 | $ 37,990 | $ 1,049,652 | $ (1,224,169) | $ (136,527) |
Net loss | (20,809) | (20,809) | ||
Ending balance, shares at Mar. 31, 2018 | 37,990,000 | |||
Ending balance, value at Mar. 31, 2018 | $ 37,990 | 1,049,652 | (1,244,978) | (157,336) |
Beginning balance, shares at Dec. 31, 2017 | 37,990,000 | |||
Beginning balance, value at Dec. 31, 2017 | $ 37,990 | 1,049,652 | (1,224,169) | (136,527) |
Net loss | 38,179 | |||
Ending balance, shares at Jun. 30, 2018 | 37,990,000 | |||
Ending balance, value at Jun. 30, 2018 | $ 37,990 | 1,049,652 | (1,185,990) | (98,348) |
Beginning balance, shares at Mar. 31, 2018 | 37,990,000 | |||
Beginning balance, value at Mar. 31, 2018 | $ 37,990 | 1,049,652 | (1,244,978) | (157,336) |
Net loss | 58,988 | 58,988 | ||
Ending balance, shares at Jun. 30, 2018 | 37,990,000 | |||
Ending balance, value at Jun. 30, 2018 | $ 37,990 | 1,049,652 | (1,185,990) | (98,348) |
Beginning balance, shares at Dec. 31, 2018 | 37,990,000 | |||
Beginning balance, value at Dec. 31, 2018 | $ 37,990 | 1,049,652 | (1,256,638) | (168,996) |
Net loss | (20,799) | (20,799) | ||
Ending balance, shares at Mar. 31, 2019 | 37,990,000 | |||
Ending balance, value at Mar. 31, 2019 | $ 37,990 | 1,049,652 | (1,277,437) | (189,795) |
Beginning balance, shares at Dec. 31, 2018 | 37,990,000 | |||
Beginning balance, value at Dec. 31, 2018 | $ 37,990 | 1,049,652 | (1,256,638) | (168,996) |
Net loss | (35,713) | |||
Ending balance, shares at Jun. 30, 2019 | 38,190,000 | |||
Ending balance, value at Jun. 30, 2019 | $ 38,190 | 1,089,452 | (1,292,351) | (164,709) |
Beginning balance, shares at Mar. 31, 2019 | 37,990,000 | |||
Beginning balance, value at Mar. 31, 2019 | $ 37,990 | 1,049,652 | (1,277,437) | (189,795) |
Common stock issued from previously accrued Board of Directors Compensation, shares | 200,000 | |||
Common stock issued from previously accrued Board of Directors Compensation, value | $ 200 | 39,800 | 40,000 | |
Net loss | (14,914) | (14,914) | ||
Ending balance, shares at Jun. 30, 2019 | 38,190,000 | |||
Ending balance, value at Jun. 30, 2019 | $ 38,190 | $ 1,089,452 | $ (1,292,351) | $ (164,709) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash Flows from Operating Activities | ||
Net loss | $ (35,713) | $ 38,179 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Gain on sale of equipment | (4,000) | (82,500) |
Change in accounts payable | 3,404 | 0 |
Change in prepaid expenses | 2,150 | 0 |
Change in accrued director fees | 20,000 | 0 |
Change in related party accounts payable | 10,869 | (1,768) |
Net cash used in operating activities | (3,290) | (46,089) |
Cash Flows from Investing Activites | ||
Proceeds from sale of mining equipment | 4,000 | 82,500 |
Net cash provided by investing activities | 4,000 | 82,500 |
Net increase in cash | 710 | 36,411 |
Cash at beginning of the period | 363 | 241 |
Cash at end of the period | 1,073 | 36,652 |
Supplementary Disclosures of Cash Flow Information | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | 0 | 0 |
Non-Cash Investing and Financing Activities | ||
Common stock issued for previously accrued Board of Directors compensation | $ 40,000 | $ 0 |
1. General Organization and Bus
1. General Organization and Business | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
General Organization and Business | NOTE 1. GENERAL ORGANIZATION AND BUSINESS High Desert Holding Corp. (“Company”) was organized in the state of Nevada in September 2013. The Company is a The Company has a mineral property located in Nevada has not yet determined whether these properties contain a viable resource. Future exploration and development of this and any other properties will be dependent upon the ability of the Company to obtain necessary financing to satisfy the expenditure requirements under the property agreements to complete the development of the properties and upon the ability to raise additional capital. The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America which contemplate continuation of the Company as a going concern. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes which are normally included in the Company’s Form 10-K. These financial statements reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes are necessary to fairly state results for the interim periods presented. Results of operations for interim periods are not necessarily indicative of annual results of operations. Cash and Cash Equivalents Cash and cash equivalents include cash in banks and financial instruments which mature within three months of the date of purchase. As of June 30, 2019 and December 31, 2018 the Company did not have any cash equivalents. Use of Estimates The preparation of financial statements 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Loss per Share The Company computes net loss per share in accordance with GAAP. This requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss by the weighted average number of shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period under the treasury stock method using the if-converted method. The Company does not currently have any instruments issued and outstanding that are potentially dilutive. Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02 – Leases (Accounting Standards Codification “ASC” Topic 842. Under the new guidance a lessee will be required to recognize assets and liabilities for leases with lease terms more than 12 months, whether that lease be classified as a capital or operating lease. The Company adopted ASC 842 effective January 1, 2019. As of the date of adoption and through June 30, 2019 the Company did not have any non-cancellable contracts containing a lease. |
3. Going Concern
3. Going Concern | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 3. GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Since inception, the Company has not identified any proven or probable reserve and correspondingly has not generated any revenue during its exploration stage. This raises substantial doubt about the Company’s ability to continue as a going concern. These financials do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from this uncertainty. The Company needs to raise additional funds to continue as a going concern. |
4. Related Party Transactions
4. Related Party Transactions | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 4. RELATED PARTY TRANSACTIONS As of June 30, 2019, and December 31, 2018, we owed Mr. Kersey $11,278 and $409, respectively, for administrative and travel expenses paid on our behalf. Mr. Kersey has agreed to defer repayment of these expenses until the Company’s cash resources significantly increase. In addition to these obligations, the Company incurred director’s fees due to Mr. Kersey totaling $5,000. During the six months ended June 30, 2019, the Company issued 200,000 shares of restricted and unregistered shares of common stock for the settlement of previously accrued director fees totaling $40,000. |
5. Equipment Sale
5. Equipment Sale | 6 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
5. Equipment Sale | NOTE 5. EQUIPMENT SALE During the three and six month periods ended June 30, 2019 and 2018, the Company sold certain mining equipment that had no remaining book value on the date of sale for total cash proceeds of $4,000 and $82,500, respectively. As a result of the sales, the Company recognized a gain of $4,000 and $82,500, respectively, for the three and six months ended June 30, 2019 and 2018 in the accompanying statements of operations |
6. Stockholders' Equity
6. Stockholders' Equity | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
6. Stockholders' Equity | NOTE 6. STOCKHOLDERS’ EQUITY During the six months ended June 30, 2019, the Company issued 200,000 shares of restricted and unregistered shares of common stock for the settlement of previously accrued director fees totaling $40,000. |
2. Summary of Significant Acc_2
2. Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes which are normally included in the Company’s Form 10-K. These financial statements reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes are necessary to fairly state results for the interim periods presented. Results of operations for interim periods are not necessarily indicative of annual results of operations. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash in banks and financial instruments which mature within three months of the date of purchase. As of June 30, 2019 and December 31, 2018 the Company did not have any cash equivalents. |
Use of Estimates | Use of Estimates The preparation of financial statements 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Loss per Share | Loss per Share The Company computes net loss per share in accordance with GAAP. This requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss by the weighted average number of shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period under the treasury stock method using the if-converted method. The Company does not currently have any instruments issued and outstanding that are potentially dilutive. |
Leases | Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02 – Leases (Accounting Standards Codification “ASC” Topic 842. Under the new guidance a lessee will be required to recognize assets and liabilities for leases with lease terms more than 12 months, whether that lease be classified as a capital or operating lease. The Company adopted ASC 842 effective January 1, 2019. As of the date of adoption and through June 30, 2019 the Company did not have any non-cancellable contracts containing a lease. |
2. Summary of Significant Acc_3
2. Summary of Significant Accounting Policies (Details Narrative) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Accounting Policies [Abstract] | ||
Cash equivalents | $ 0 | $ 0 |
4. Related Party Transactions (
4. Related Party Transactions (Details Narrative) - USD ($) | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Accounts payable, related party | $ 11,278 | $ 409 | |
Shares issued for previously accrued director fees, shares | 200,000 | ||
Shares issued for previously accrued director fees, value | $ 40,000 | ||
Mark Kersey [Member] | |||
Accounts payable, related party | 11,278 | $ 409 | |
Director fee expense | $ 5,000 | $ 5,000 |
5. Equipment Sale (Details Narr
5. Equipment Sale (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Property, Plant and Equipment [Abstract] | ||||
Sale of mining equipment | $ 4,000 | $ 82,500 | $ 4,000 | $ 82,500 |
6. Stockholders' Equity (Detail
6. Stockholders' Equity (Details Narrative) | 6 Months Ended |
Jun. 30, 2019USD ($)shares | |
Equity [Abstract] | |
Shares issued for previously accrued director fees, shares | shares | 200,000 |
Shares issued for previously accrued director fees, value | $ | $ 40,000 |