Go Ez (GEZC) 10-Q 15 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	12-May-14
Document and Entity Information	'	'
Entity Registrant Name	'ERC ENERGY RECOVERY CORP	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0000314197	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	1,368,200
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

ERC_ENERGY_RECOVERY_CORPORATIO

E.R.C. ENERGY RECOVERY CORPORATION [A Development Stage Company] CONDENSED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
CURRENT ASSETS:	'	'
Cash	$0	$0
Total Current Assets	0	0
Total Assets	0	0
CURRENT LIABILITIES:	'	'
Accounts payable	141,452	140,945
Advances from related party	103,412	103,412
Accrued interest - related party	48,685	46,135
Total Current Liabilities	293,549	290,492
STOCKHOLDERS' EQUITY (DEFICIT):	'	'
Preferred stock, $.001 par value 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common Stock, $.001 par value, 100,000,000 shares authorized, 368,200 shares issued and outstanding	368	368
Capital in excess of par value	401,175	388,525
Deficit accumulated during the development stage	-695,092	-679,385
Total Stockholders' Equity (Deficit)	-293,549	-290,492
Total Liabilities and Stockholders' Equity (Deficit)	$0	$0

ERC_Energy_Recovery_Corp_A_Dev

E.R.C. Energy Recovery Corp. (A Development Stage Company) Balance Sheet (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Statement of Financial Position	'	'
Preferred stock authorized	10,000,000	10,000,000
Preferred stock par value	$0.00	$0.00
Preferred stock issued	0	0
Preferred stock outstanding	0	0
Common stock authorized	100,000,000	100,000,000
Common stock par value	$0.00	$0.00
Common stock issued	368,200	368,200
Common stock outstanding	368,200	368,200

ERC_ENERGY_RECOVERY_CORPORATIO1

E.R.C. ENERGY RECOVERY CORPORATION [A Development Stage Company] UNAUDITED CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		413 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Income Statement	'	'	'
REVENUES	$0	$0	$0
EXPENSES	'	'	'
General & administrative	507	13,671	521,583
Non-cash contributed services	12,650	5,550	144,650
Total Expenses	13,157	19,221	666,233
LOSS BEFORE OTHER INCOME (EXPENSE)	-13,157	-19,221	-666,233
OTHER INCOME (EXPENSE):	'	'	'
Gain on Forgiveness of debt	0	0	19,826
Interest Expense	-2,550	-2,512	-48,685
Total Other Income (expense)	-2,550	-2,512	-28,859
LOSS BEFORE INCOME TAXES	-15,707	-21,733	-695,092
TAX EXPENSE	0	0	0
NET LOSS	($15,707)	($21,733)	($695,092)
LOSS PER COMMON SHARE	($0.04)	($0.06)	'

ERC_ENERGY_RECOVERY_CORPORATIO2

E.R.C. ENERGY RECOVERY CORPORATION [A Development Stage Company] UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended		413 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Cash Flows From Operating Activities:	'	'	'
NET LOSS	($15,707)	($21,733)	($695,092)
Non-cash contributed services	12,650	5,550	144,650
Increase in accounts payable	507	13,671	160,378
Increase in advances from related party	0	0	103,412
Increase in accrued interest - related party	2,550	2,512	48,685
Forgiveness of debt gain	0	0	-19,826
Contributed capital for expenses	0	0	1,138
Stock issued for services	0	0	1,450
Net Cash (Used) by Operating Activities	0	0	-255,205
Net Cash (Used) by Investing Activities	0	0	0
Cash Flows from Financing Activities:	'	'	'
Issuance of common stock for cash	0	0	255,205
Net Cash Provided by Financing Activities	0	0	255,205
Net Increase (Decrease) in Cash	0	0	0
Cash at Beginning of Period	0	0	0
Cash at End of Period	0	0	0
Supplemental Disclosures of Cash Flow Information:	'	'	'
Interest	0	0	0
Income taxes	$0	$0	$0

Supplemental_Schedule_of_Nonca

Supplemental Schedule of Non-cash Investing and Financing Activities	3 Months Ended
	Mar. 31, 2014
Notes	'
Supplemental Schedule of Non-cash Investing and Financing Activities:	'
	Supplemental Schedule of Non-cash Investing and Financing Activities:
	For the three months ended March 31, 2014:
	Officers and Directors contributed services totaling $12,650, which have been accounted for as a capital contribution.
	For the three months ended March 31, 2013:
	Officers and Directors contributed services totaling $5,550, which have been accounted for as a capital contribution.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Notes	'
Summary of Significant Accounting Policies	'
	NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Organization – E.R.C. Energy Recovery Corporation (“the Company”) was incorporated on October 24, 1979 in the State of Delaware for the purpose of providing accounting, personnel recruiting and general business consulting.  Currently, the Company has no on-going operations.  The Company is considered to be a development stage Company.
	Condensed Financial Statements - The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2014 and 2013 and for the periods then ended have been made.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted.  It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2013 audited financial statements.  The results of operations for the three months ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the full year.
	Accounting Estimates - The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimated by management.
	Reclassification - The financial statements for periods prior to March 31, 2014 have been reclassified to conform to the headings and classifications used in the March 31, 2014 financial statements.
	NOTE 2 - GOING CONCERN
	The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplate continuation of the Company as a going concern.  However, the Company has incurred losses since inception and currently has no on-going operations.  Further, the Company has current liabilities in excess of current assets.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.  In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of its common stock.  There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations.  The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Notes	'
Related Party Transactions	'
	NOTE 3 RELATED PARTY TRANSACTIONS
	Management Compensation – During the periods ended March 31, 2014 and 2013, the Company did not pay any compensation to its officers and directors.  During the three month periods ended March 31, 2014 and 2013, Officers and Directors contributed services totaling $12,650 and $5,550, respectively, which have been accounted for as contributions to capital.
	Office Space – The Company has not had a need to rent office space. An officer/shareholder of the Company is allowing the Company to use his office as a mailing address, as needed, at no expense to the Company.
	Advances from Related Party – A shareholder of the Company or entities related to the shareholder have paid expenses on behalf of the Company. For the three month periods ended March 31, 2014 and 2013 these payments amounted to $0 and $0, respectively.  The Company has accounted for any such payments as advances payable to the related party.  At March 31, 2014 and December 31, 2013 a balance of $103,412 and $103,412, respectively, is owing the related party.
	Accrued Interest – The Company has imputed interest at 10% per annum on balances owing to related parties.  At March 31, 2014 and December 31, 2013 the accrued interest balance payable to related parties was $48,685«TXPXCE33] and $46,135, respectively.  Interest expense to related parties amounted to $2,550 and $2,512 for the three months ended March 31, 2014 and 2013, respectively.

Loss_Per_Share

Loss Per Share	3 Months Ended
	Mar. 31, 2014
Notes	'
Loss Per Share	'
	NOTE 4 - LOSS PER SHARE
	The following data show the amounts used in computing loss per share for the periods presented:
		For the Three Months Ended March 31, 2014	For the Three Months Ended March 31, 2013
	Loss available to common shareholders (numerator)	($15,707)	($21,733)
	Weighted average number of common shares outstanding used in loss per share for the period (denominator)	368,200	368,200
	LOSS PER COMMON SHARE	($0.04)	($0.06)
	Dilutive loss per share was not presented; as the Company had no common equivalent shares for all periods presented that would affect the computation of diluted loss per share.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Notes	'
Commitments and Contingencies	'
	NOTE 5 - COMMITMENTS AND CONTINGENCIES
	Contingencies -The Company has not been active for several years. Management believes that there are no unrecorded valid outstanding liabilities from prior operations. If a creditor were to come forward and claim a liability, the Company has committed to contest the claim to the fullest extent of the law. Due to various statutes of limitations and because of the likelihood that such an old liability would not still be valid, no amount has been accrued in these financial statements for any such contingencies.

Other_Income_expense

Other Income (expense)	3 Months Ended
	Mar. 31, 2014
Notes	'
Other Income (expense)	'
	NOTE 6 – OTHER INCOME (EXPENSE)
	In connection with an unsuccessful business acquisition, during the three months ended June 30, 2013 the company recorded a gain on forgiveness of debt in the amount of $19,826.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Notes	'
Subsequent Events	'
	NOTE 7 - SUBSEQUENT EVENTS
	On April 22, 2014, the Company entered into a Stock Purchase Agreement with Evotech Capital S.A., a privately-held company organized under the laws of the British Virgin Islands, and the Company’s sole directors and executive officers, David C. Merrell and Michael C. Brown (the “Evotech SPA”).  Under the Evotech SPA, Evotech acquired 1,000,000 shares of common stock in exchange for $1,000 cash. In exchange for certain non-cash considerations, including agreeing to a lock-up of their shares and indemnifying Evotech, Messrs. Merrell and Brown are (i) guaranteed that their collective holdings will not be decreased to less than 4.99% of the Company’s outstanding common stock until the earlier of when (a) the average daily trading volume of the Company’s common stock over any 30 day trading period reaches $80,000 (calculated by multiplying the daily volume by the closing last trade share price for that trading day; or (b) the aggregate revenues of the Company, beginning on the date of the Evotech SPA or April 22, 2014, reach $25 million, and any such revenues have been reported in the Company’s periodic reports filed with the SEC (“the “Market Maturity” date); and they will (ii) also receive a collective three year warrant with a cashless feature at an exercise price of $0.20 per share to acquire the greater of 13,682 shares of the Company’s common stock (which is 1% of the post-Evotech SPA outstanding shares) or the number of shares equal to 1% of the fully-diluted outstanding shares of the Company’s common stock during such three year period, or to the Market Maturity date, which ever is sooner. Evotech also provided the Company an additional $49,000 in the form of a demand loan for compromise and payment of all outstanding liabilities of the Company, with Mr. Merrell to provide such consideration as may be necessary to satisfy or compromise any remaining liabilities of the Company of the closing date of April 30, 2014.
	The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued, and determined there are no other events to disclose.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Policies	'
Organization and Basis of Presentation	'
	NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Organization – E.R.C. Energy Recovery Corporation (“the Company”) was incorporated on October 24, 1979 in the State of Delaware for the purpose of providing accounting, personnel recruiting and general business consulting.  Currently, the Company has no on-going operations.  The Company is considered to be a development stage Company.
	Condensed Financial Statements - The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2014 and 2013 and for the periods then ended have been made.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted.  It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2013 audited financial statements.  The results of operations for the three months ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the full year.
Accounting Estimates	'
	Accounting Estimates - The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimated by management.
Reclassification	'
	Reclassification - The financial statements for periods prior to March 31, 2014 have been reclassified to conform to the headings and classifications used in the March 31, 2014 financial statements.
Going Concern	'
	NOTE 2 - GOING CONCERN
	The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplate continuation of the Company as a going concern.  However, the Company has incurred losses since inception and currently has no on-going operations.  Further, the Company has current liabilities in excess of current assets.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.  In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of its common stock.  There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations.  The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Loss_Per_Share_Tables

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Tables/Schedules	'
Loss Per Share	'
		For the Three Months Ended March 31, 2014	For the Three Months Ended March 31, 2013
	Loss available to common shareholders (numerator)	($15,707)	($21,733)
	Weighted average number of common shares outstanding used in loss per share for the period (denominator)	368,200	368,200
	LOSS PER COMMON SHARE	($0.04)	($0.06)

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	3 Months Ended		413 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013
Details	'	'	'	'
Other Noncash Income	$12,650	$5,550	'	'
Increase in advances from related party	0	0	103,412	'
Advances from related party	103,412	'	103,412	103,412
Related Party Transaction, Rate	10.00%	'	'	'
Accrued interest - related party	48,685	'	48,685	46,135
Interest Expense - Related Party	$2,550	$2,512	'	'

Loss_Per_Share_Details

Loss Per Share (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Details	'	'
Loss available to common shareholders (numerator)	($15,707)	($21,733)
Weighted average number of common shares outstanding used in loss per share for the period (denominator)	368,200	368,200
LOSS PER COMMON SHARE	($0.04)	($0.06)

Other_Income_expense_Details

Other Income (expense) (Details) (USD $)	3 Months Ended		413 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Details	'	'	'
Gain on Forgiveness of debt	$0	$0	$19,826

Subsequent_Events_Details

Subsequent Events (Details)	3 Months Ended
	Mar. 31, 2014
Details	'
Business Combination Disclosure	'On April 22, 2014, the Company entered into a Stock Purchase Agreement with Evotech Capital S.A., a privately-held company organized under the laws of the British Virgin Islands, and the Company’s sole directors and executive officers, David C. Merrell and Michael C. Brown (the “Evotech SPA”). Under the Evotech SPA, Evotech acquired 1,000,000 shares of common stock in exchange for $1,000 cash. In exchange for certain non-cash considerations, including agreeing to a lock-up of their shares and indemnifying Evotech, Messrs. Merrell and Brown are (i) guaranteed that their collective holdings will not be decreased to less than 4.99% of the Company’s outstanding common stock until the earlier of when (a) the average daily trading volume of the Company’s common stock over any 30 day trading period reaches $80,000 (calculated by multiplying the daily volume by the closing last trade share price for that trading day; or (b) the aggregate revenues of the Company, beginning on the date of the Evotech SPA or April 22, 2014, reach $25 million, and any such revenues have been reported in the Company’s periodic reports filed with the SEC (“the “Market Maturity” date); and they will (ii) also receive a collective three year warrant with a cashless feature at an exercise price of $0.20 per share to acquire the greater of 13,682 shares of the Company’s common stock (which is 1% of the post-Evotech SPA outstanding shares) or the number of shares equal to 1% of the fully-diluted outstanding shares of the Company’s common stock during such three year period, or to the Market Maturity date, which ever is sooner. Evotech also provided the Company an additional $49,000 in the form of a demand loan for compromise and payment of all outstanding liabilities of the Company, with Mr. Merrell to provide such consideration as may be necessary to satisfy or compromise any remaining liabilities of the Company of the closing date of April 30, 2014.