Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 12, 2024 | |
Details | ||
Registrant CIK | 0001911467 | |
Fiscal Year End | --12-31 | |
Registrant Name | Circle Energy, Inc./NV | |
SEC Form | 10-Q | |
Period End date | Jun. 30, 2024 | |
Tax Identification Number (TIN) | 87-4125972 | |
Number of common stock shares outstanding | 1,530,000 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | false | |
Small Business | true | |
Emerging Growth Company | true | |
Ex Transition Period | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Securities Act File Number | 000-56587 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 8211 E Regal Place | |
Entity Address, City or Town | Tulsa | |
Entity Address, State or Province | OK | |
Entity Address, Postal Zip Code | 74133 | |
City Area Code | 918 | |
Local Phone Number | 994-0693 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q2 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Current Assets | ||
Cash and cash equivalents | $ 226,975 | $ 261,338 |
Prepaid assets and retainers | 9,789 | 14,519 |
Total Current Assets | 236,764 | 275,857 |
Properties and Equipment | ||
Oil and natural gas properties not subject to amortization | 34,500 | 34,500 |
Total Properties and Equipment | 34,500 | 34,500 |
Total Assets | 271,264 | 310,357 |
Current Liabilities | ||
Accounts payable | 5,000 | 7,995 |
Total Current Liabilities | 5,000 | 7,995 |
Total Liabilities | 5,000 | 7,995 |
Stockholders' Equity | ||
Common shares | 1,530 | 1,530 |
Preferred stock - 50,000,000 shares authorized; no shares outstanding | 0 | 0 |
Additional paid-in capital | 445,533 | 445,533 |
Accumulated deficit | (180,799) | (144,701) |
Total Stockholders' Equity | 266,264 | 302,362 |
Total Liabilities and Stockholders' Equity | $ 271,264 | $ 310,357 |
BALANCE SHEETS - Parenthetical
BALANCE SHEETS - Parenthetical - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
BALANCE SHEETS | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
Common Stock, Shares, Issued | 1,530,000 | 1,530,000 |
Common Stock, Shares, Outstanding | 1,530,000 | |
Preferred Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
STATEMENTS OF OPERATIONS | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Costs and Operating Expenses | ||||
General and administrative expense | 12,047 | 21,233 | 36,098 | 45,729 |
Total Costs and Operating Expenses | 12,047 | 21,233 | 36,098 | 45,729 |
Loss from Operations | (12,047) | (21,233) | (36,098) | (45,729) |
Net Other Income (Expense) | 0 | 0 | 0 | 0 |
Loss Before Provision for Income Taxes | (12,047) | (21,233) | (36,098) | (45,729) |
Benefit from (Provision for) Income Taxes | 0 | 0 | 0 | 0 |
Net Income (Loss) | $ (12,047) | $ (21,233) | $ (36,098) | $ (45,729) |
Basic and Diluted Loss per share | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.03) |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2022 | $ 1,530 | $ 445,533 | $ (66,321) | $ 380,742 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2022 | 1,530,000 | |||
Net Income (Loss) | $ 0 | 0 | (24,496) | (24,496) |
Equity, Attributable to Parent, Ending Balance at Mar. 31, 2023 | $ 1,530 | 445,533 | (90,817) | 356,246 |
Shares, Outstanding, Ending Balance at Mar. 31, 2023 | 1,530,000 | |||
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2022 | $ 1,530 | 445,533 | (66,321) | 380,742 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2022 | 1,530,000 | |||
Net Income (Loss) | (45,729) | |||
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2023 | $ 1,530 | 445,533 | (112,050) | 335,013 |
Shares, Outstanding, Ending Balance at Jun. 30, 2023 | 1,530,000 | |||
Equity, Attributable to Parent, Beginning Balance at Mar. 31, 2023 | $ 1,530 | 445,533 | (90,817) | 356,246 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2023 | 1,530,000 | |||
Net Income (Loss) | $ 0 | 0 | (21,233) | (21,233) |
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2023 | $ 1,530 | 445,533 | (112,050) | 335,013 |
Shares, Outstanding, Ending Balance at Jun. 30, 2023 | 1,530,000 | |||
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2023 | $ 1,530 | 445,533 | (144,701) | 302,362 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2023 | 1,530,000 | |||
Net Income (Loss) | $ 0 | 0 | (24,051) | (24,051) |
Equity, Attributable to Parent, Ending Balance at Mar. 31, 2024 | $ 1,530 | 445,533 | (168,752) | 278,311 |
Shares, Outstanding, Ending Balance at Mar. 31, 2024 | 1,530,000 | |||
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2023 | $ 1,530 | 445,533 | (144,701) | 302,362 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2023 | 1,530,000 | |||
Net Income (Loss) | (36,098) | |||
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2024 | $ 1,530 | 445,533 | (180,799) | 266,264 |
Shares, Outstanding, Ending Balance at Jun. 30, 2024 | 1,530,000 | |||
Equity, Attributable to Parent, Beginning Balance at Mar. 31, 2024 | $ 1,530 | 445,533 | (168,752) | 278,311 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2024 | 1,530,000 | |||
Net Income (Loss) | $ 0 | 0 | (12,047) | (12,047) |
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2024 | $ 1,530 | $ 445,533 | $ (180,799) | $ 266,264 |
Shares, Outstanding, Ending Balance at Jun. 30, 2024 | 1,530,000 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash Flows From Operating Activities | ||
Net Income (Loss) | $ (36,098) | $ (45,729) |
Changes in assets and liabilities | ||
Prepaid expenses and retainers | 4,730 | 5,739 |
Accounts payable | (2,995) | 2,987 |
Net Cash Provided by (Used in) Operating Activities | (34,363) | (37,003) |
Cash Flows From Investing Activities | ||
Purchase of unproven oil and gas properties | 0 | 0 |
Net Cash Used in Investing Activities | 0 | 0 |
Cash Flows From Financing Activities | ||
Proceeds from issuance of common stock, net of offering costs | 0 | 0 |
Net Cash Provided by Financing Activities | 0 | 0 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | (34,363) | (37,003) |
Cash at Beginning of Period | 261,338 | 336,241 |
Cash at End of Period | 226,975 | 299,238 |
Supplemental Cash Flow Information | ||
Cash paid for interest | $ 0 | $ 0 |
NOTE 1 - ORGANIZATION, BASIS OF
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2024 | |
Notes | |
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Nature of Operations – In the opinion of the Company, the accompanying unaudited condensed interim financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2024 and 2023, respectively, and its results of operations for the three and six months ended June 30, 2024 and 2023, respectively, and cash flows for the six months ended June 30, 2024 and 2023, respectively. The condensed balance sheet at December 31, 2023 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. Operating results for the three- and six-month periods ended June 30, 2024, are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2024. These unaudited condensed interim financial statements have been prepared by management in accordance with generally accepted accounting principles used in the United States of America (“U.S. GAAP”). These unaudited condensed interim financial statements should be read in conjunction with the annual audited financial statements included in the Company’s Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission. This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to U.S. GAAP and have been consistently applied in the preparation of the financial statements. Emerging Growth Company Status · · · · · The Company may take advantage of these provisions until it is no longer an emerging growth company, which will occur on the earliest of (i) the last day of the fiscal year following the fifth anniversary of the Company’s IPO, (ii) the last day of the fiscal year in which it has more than $1.07 billion in annual gross revenue, (iii) the date on which it issues more than $1.0 billion of non-convertible debt over a three-year period and (iv) the date on which it is deemed to be a “large accelerated filer,” as defined in Rule 12b-2 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company has elected to take advantage of each of the exemptions for emerging growth companies. Accordingly, the information that is provided in these financial statements may be different than what other public companies provide. Use of Estimates Fair Value Measurements Fair Values of Financial Instruments Fair Value of Non-financial Assets and Liabilities Concentration of Credit Risk and Accounts Receivable Cash and Cash Equivalents Oil and Gas Properties The Company records a liability in the period in which an asset retirement obligation (“ARO”) is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter this liability is accreted up to the final retirement cost. An ARO is a future expenditure related to the disposal or other retirement of certain assets. The Company’s ARO relates to future plugging and abandonment expenses of its oil and natural gas properties and related facilities disposal. All capitalized costs of oil and natural gas properties, including the estimated future costs to develop proved reserves and estimated future costs to plug and abandon wells and costs of site restoration, less the estimated salvage value of equipment associated with the oil and natural gas properties, are amortized on the unit-of-production method using estimates of proved reserves as determined by independent petroleum engineers. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is offset to the capitalized costs to be amortized. As the Company has no production and its properties are currently not subjection to amortization, no depletion expense has yet been incurred. In addition, capitalized costs less accumulated depreciation, depletion and amortization and related deferred income taxes shall not exceed an amount (the full cost ceiling) equal to the sum of: 1) the present value of estimated future net revenues discounted ten percent computed in compliance with SEC guidelines; 2) plus the cost of properties not being amortized; 3) plus the lower of cost or estimated fair value of unproven properties included in the costs being amortized; 4) less income tax effects related to differences between the book and tax basis of the properties. Land, Buildings, Equipment and Leasehold Improvements Depreciation of buildings equipment, software and leasehold improvements is calculated using the straight-line method based upon the following estimated useful lives: Leasehold improvements 3-10 years Office equipment and software 3-7 years Equipment 5-10 years Revenue Recognition Revenues from Contracts with Customers (Topic 606) Income Taxes financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. No provision has been made for income taxes as the Company has not recorded or received any revenues. For the three and six months ended June 30, 2024, the Company recorded a full valuation allowance against the deferred tax asset of $2,530 and $7,581, respectively. For the three and six months ended June 30, 2023, the Company recorded a full valuation allowance against the deferred tax asset of $4,459 and $9,603, respectively. As the Company currently has no revenues there is reasonable doubt as to the realizability of this deferred tax asset. With the allowance taken as of June 30, 2024, the Company has a cumulative valuation allowance of $37,968. Accounting for Uncertainty in Income Taxes Earnings (Loss) Per Share Major Customers Stock-Based Employee and Non-Employee Compensation Derivative Instruments and Hedging Activities When applicable, the Company records all derivative instruments, other than those that meet the normal purchases and sales exception, on the balance sheet as either an asset or liability measured at fair value. Changes in fair value are recognized currently in earnings unless specific hedge accounting criteria are met. |
NOTE 2 - REVENUE RECOGNITION
NOTE 2 - REVENUE RECOGNITION | 6 Months Ended |
Jun. 30, 2024 | |
Notes | |
NOTE 2 - REVENUE RECOGNITION | NOTE 2 – REVENUE RECOGNITION The Company does not currently have any revenues. |
NOTE 3 - LEASES
NOTE 3 - LEASES | 6 Months Ended |
Jun. 30, 2024 | |
Notes | |
NOTE 3 - LEASES | NOTE 3 – LEASES The Company adopted ASU 2016-02 Leases The Company has a month-to-month lease for executive office-sharing space. This lease is month to month at $79 per month. This amount is shown in the Statement of Operations as General and administrative expense. |
NOTE 4 - LOSS PER SHARE INFORMA
NOTE 4 - LOSS PER SHARE INFORMATION | 6 Months Ended |
Jun. 30, 2024 | |
Notes | |
NOTE 4 - LOSS PER SHARE INFORMATION | NOTE 4 – LOSS PER SHARE INFORMATION For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net Loss $ (12,047) $ (21,233) $ (36,098) $ (45,729) Basic and Diluted Weighted-Average Shares Outstanding 1,530,000 1,530,000 1,530,000 1,530,000 Basic and Diluted Loss per Share $ (0.01) $ (0.01) $ (0.02) $ (0.03) There are currently no stock options or other share-based compensation outstanding to create a dilutive effect on our earnings per share. |
NOTE 5 - LEGAL MATTERS
NOTE 5 - LEGAL MATTERS | 6 Months Ended |
Jun. 30, 2024 | |
Notes | |
NOTE 5 - LEGAL MATTERS | NOTE 5 – LEGAL MATTERS In the ordinary course of business, we may be, from time to time, a claimant or a defendant in various legal proceedings. We do not presently have any material litigation pending or threatened requiring disclosure under this item. |
NOTE 6 - SUBSEQUENT EVENTS
NOTE 6 - SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2024 | |
Notes | |
NOTE 6 - SUBSEQUENT EVENTS | NOTE 6 – SUBSEQUENT EVENTS None. |
NOTE 1 - ORGANIZATION, BASIS _2
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Use of Estimates | Use of Estimates |
NOTE 1 - ORGANIZATION, BASIS _3
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value Measurements (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Fair Value Measurements | Fair Value Measurements |
NOTE 1 - ORGANIZATION, BASIS _4
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Fair Value of Financial Instruments | Fair Values of Financial Instruments |
NOTE 1 - ORGANIZATION, BASIS _5
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Non-financial Assets and Liabilities (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Fair Value of Non-financial Assets and Liabilities | Fair Value of Non-financial Assets and Liabilities |
NOTE 1 - ORGANIZATION, BASIS _6
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Concentration of Credit Risk and Accounts Receivable (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Concentration of Credit Risk and Accounts Receivable | Concentration of Credit Risk and Accounts Receivable |
NOTE 1 - ORGANIZATION, BASIS _7
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents |
NOTE 1 - ORGANIZATION, BASIS _8
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Oil and Natural Gas Properties (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Oil and Natural Gas Properties | Oil and Gas Properties The Company records a liability in the period in which an asset retirement obligation (“ARO”) is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter this liability is accreted up to the final retirement cost. An ARO is a future expenditure related to the disposal or other retirement of certain assets. The Company’s ARO relates to future plugging and abandonment expenses of its oil and natural gas properties and related facilities disposal. All capitalized costs of oil and natural gas properties, including the estimated future costs to develop proved reserves and estimated future costs to plug and abandon wells and costs of site restoration, less the estimated salvage value of equipment associated with the oil and natural gas properties, are amortized on the unit-of-production method using estimates of proved reserves as determined by independent petroleum engineers. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is offset to the capitalized costs to be amortized. As the Company has no production and its properties are currently not subjection to amortization, no depletion expense has yet been incurred. In addition, capitalized costs less accumulated depreciation, depletion and amortization and related deferred income taxes shall not exceed an amount (the full cost ceiling) equal to the sum of: 1) the present value of estimated future net revenues discounted ten percent computed in compliance with SEC guidelines; 2) plus the cost of properties not being amortized; 3) plus the lower of cost or estimated fair value of unproven properties included in the costs being amortized; 4) less income tax effects related to differences between the book and tax basis of the properties. |
NOTE 1 - ORGANIZATION, BASIS _9
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Land, Buildings, Equipment and Leasehold Improvements (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Land, Buildings, Equipment and Leasehold Improvements | Land, Buildings, Equipment and Leasehold Improvements Depreciation of buildings equipment, software and leasehold improvements is calculated using the straight-line method based upon the following estimated useful lives: Leasehold improvements 3-10 years Office equipment and software 3-7 years Equipment 5-10 years |
NOTE 1 - ORGANIZATION, BASIS_10
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Revenue Recognition | Revenue Recognition Revenues from Contracts with Customers (Topic 606) |
NOTE 1 - ORGANIZATION, BASIS_11
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Income Taxes | Income Taxes financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. No provision has been made for income taxes as the Company has not recorded or received any revenues. For the three and six months ended June 30, 2024, the Company recorded a full valuation allowance against the deferred tax asset of $2,530 and $7,581, respectively. For the three and six months ended June 30, 2023, the Company recorded a full valuation allowance against the deferred tax asset of $4,459 and $9,603, respectively. As the Company currently has no revenues there is reasonable doubt as to the realizability of this deferred tax asset. With the allowance taken as of June 30, 2024, the Company has a cumulative valuation allowance of $37,968. |
NOTE 1 - ORGANIZATION, BASIS_12
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Accounting for Uncertainty in Income Taxes (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Accounting for Uncertainty in Income Taxes | Accounting for Uncertainty in Income Taxes |
NOTE 1 - ORGANIZATION, BASIS_13
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Earnings (Loss) Per Share (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Earnings (Loss) Per Share | Earnings (Loss) Per Share |
NOTE 1 - ORGANIZATION, BASIS_14
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Major Customers (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Major Customers | Major Customers |
NOTE 1 - ORGANIZATION, BASIS_15
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Employee and Non-Employee Compensation (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Stock-Based Employee and Non-Employee Compensation | Stock-Based Employee and Non-Employee Compensation |
NOTE 1 - ORGANIZATION, BASIS_16
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Derivative Instruments and Hedging Activities (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Policies | |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities When applicable, the Company records all derivative instruments, other than those that meet the normal purchases and sales exception, on the balance sheet as either an asset or liability measured at fair value. Changes in fair value are recognized currently in earnings unless specific hedge accounting criteria are met. |
NOTE 1 - ORGANIZATION, BASIS_17
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Land, Buildings, Equipment and Leasehold Improvements: Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Tables/Schedules | |
Property, Plant and Equipment | Leasehold improvements 3-10 years Office equipment and software 3-7 years Equipment 5-10 years |
NOTE 4 - LOSS PER SHARE INFOR_2
NOTE 4 - LOSS PER SHARE INFORMATION: Schedule of Earnings Per Share, Basic and Diluted (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Tables/Schedules | |
Schedule of Earnings Per Share, Basic and Diluted | For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net Loss $ (12,047) $ (21,233) $ (36,098) $ (45,729) Basic and Diluted Weighted-Average Shares Outstanding 1,530,000 1,530,000 1,530,000 1,530,000 Basic and Diluted Loss per Share $ (0.01) $ (0.01) $ (0.02) $ (0.03) |
NOTE 1 - ORGANIZATION, BASIS_18
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Land, Buildings, Equipment and Leasehold Improvements: Property, Plant and Equipment (Details) | Jun. 30, 2024 |
Leasehold Improvements | Minimum | |
Property, Plant and Equipment, Useful Life | 3 years |
Leasehold Improvements | Maximum | |
Property, Plant and Equipment, Useful Life | 10 years |
Office Equipment | Minimum | |
Property, Plant and Equipment, Useful Life | 3 years |
Office Equipment | Maximum | |
Property, Plant and Equipment, Useful Life | 7 years |
Equipment | Minimum | |
Property, Plant and Equipment, Useful Life | 5 years |
Equipment | Maximum | |
Property, Plant and Equipment, Useful Life | 10 years |
NOTE 1 - ORGANIZATION, BASIS_19
NOTE 1 - ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Details | ||
Valuation Allowance | $ 4,459 | $ 9,603 |
Deferred Tax Assets, Valuation Allowance | $ 37,968 |
NOTE 3 - LEASES (Details)
NOTE 3 - LEASES (Details) | 6 Months Ended |
Jun. 30, 2024 USD ($) | |
Details | |
Monthly Lease Payment | $ 79 |
NOTE 4 - LOSS PER SHARE INFOR_3
NOTE 4 - LOSS PER SHARE INFORMATION: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Details | ||||||
Net Income (Loss) | $ (12,047) | $ (24,051) | $ (21,233) | $ (24,496) | $ (36,098) | $ (45,729) |
Basic and Diluted Weighted-Average Shares Outstanding | 1,530,000 | 1,530,000 | 1,530,000 | 1,530,000 | ||
Basic and Diluted Loss per share | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.03) |