Direct Investment (FEPI) 10-K 29 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 28, 2018	Jun. 30, 2017
Document And Entity Information
Entity Registrant Name	FIRST EQUITY PROPERTIES INC
Entity Central Index Key	726,516
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 264,807
Entity Common Stock, Shares Outstanding		1,057,628
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Assets
Receivables and accrued interest - related parties	$ 2,106,229	$ 2,106,229
Cash and cash equivalents	914	900
Total assets	2,107,143	2,107,129
Liabilities and Shareholders' Equity
Notes payable and accrued interest - related parties	836,953	836,953
Accounts payable - other	669	4,732
Accounts payable - related parties	383,413	375,728
Total liabilities	1,221,035	1,217,413
Shareholders' equity
Common stock, $0.01 par value; 40,000,000 shares authorized; 1,057,628 issued and outstanding	10,576	10,576
Preferred stock, $0.01 par value; 4,960,000 shares authorized; none issued or outstanding
Paid in capital	1,376,682	1,376,682
Retained earnings (deficit)	(501,150)	(497,542)
Total shareholders' equity	886,108	889,716
Total liabilities and shareholders' equity	$ 2,107,143	$ 2,107,129

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, shares authorized	4,960,000	4,960,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	40,000,000	40,000,000
Common Stock, shares issued	1,057,628	1,057,628
Common Stock, shares outstanding	1,057,628	1,057,628

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue
Revenue from operations	$ 0	$ 0	$ 0
Total revenue	0	0	0
Operating Expenses
Administrative fees - related parties	72,000	63,000	60,000
General and administrative	16,601	17,041	16,365
Legal and professional fees	38,814	41,905	36,777
Total operating expenses	127,415	121,946	113,142
Income (loss) before interest expense and taxes	(127,415)	(121,946)	(113,142)
Other income (expense)
Interest income - related parties	205,445	206,007	208,012
Interest expense - related parties	(81,638)	(81,861)	(83,300)
Net income (loss) applicable to common shareholders	$ (3,608)	$ 2,200	$ 11,570
Earnings (loss) per share			$ 0.01
Weighted average shares outstanding	1,057,628	1,057,628	1,057,628

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Retained Earnings / Accumulated Deficit	Total
Beginning balance, shares at Dec. 31, 2014	1,057,628
Beginning balance, value at Dec. 31, 2014	$ 10,576	$ 1,376,682	$ (511,312)	$ 875,946
Net income (loss)			11,570	11,570
Ending balance, shares at Dec. 31, 2015	1,057,628
Ending balance, value at Dec. 31, 2015	$ 10,576	1,376,682	(499,742)	887,516
Net income (loss)			2,200	2,200
Ending balance, shares at Dec. 31, 2016	1,057,628
Ending balance, value at Dec. 31, 2016	$ 10,576	1,376,682	(497,542)	889,716
Net income (loss)			(3,608)	(3,608)
Ending balance, shares at Dec. 31, 2017	1,057,628
Ending balance, value at Dec. 31, 2017	$ 10,576	$ 1,376,682	$ (501,150)	$ 886,108

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flows from Operating Activities
Net Income (Loss)	$ (3,608)	$ 2,200	$ 11,570
(Increase) decrease in
Interest receivable - related parties	0	0	1,870
Accounts payable - other	(4,063)	4,063	(2,508)
Accounts payable - affiliates	7,685	(6,230)	(35,597)
Intercompany and interest payable - related parties	0	0	(1,132)
Federal income taxes payable	0	0	0
Net cash provided by (used for) operating activities	14	33	(25,797)
Cash Flows from Investing Activities
Notes receivable - related parties	0	0	64,653
Net cash provided by (used for) investing activities	0	0	64,653
Cash Flows from Financing Activities
Notes payable - related parties	0	0	(39,765)
Net cash provided by (used for) financing activities	0	0	(39,765)
Net increase (decrease) in cash and cash equivalents	14	33	(909)
Cash and cash equivalents at the beginning of period	900	867	1,776
Cash and cash equivalents at the end of period	914	900	867
Supplemental disclosures of cash flow information:
Cash paid for interest expense to related parties	81,638	81,861	84,433
Cash received for interest on notes receivable	$ 205,445	$ 206,007	$ 209,882

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations From 2010 through April 2012, the Company engaged in the business of investing in real estate and purchased land held for investment or sale. Our current source of revenue consists of interest on notes receivables from related party entities. Any adverse conditions that could affect the financial condition of these entities, and specifically their ability to service debt obligation owed, could have a material effect on the financial statements. Organization and Business First Equity Properties, Inc. is a Nevada based corporation organized in December 19, 1996 and the Company is headquartered in Dallas, TX. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable. FEPI is a publicly traded company however, no trading market presently exists for the shares of common stock and its value is therefore not determinable. Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term investments with original maturities of three months or less to be cash equivalents. Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Income Taxes The Company accounts for income taxes in accordance with Accounting Standards Codification, (“ASC”) No. 740, “Accounting for Income Taxes”. ASC 740 requires an asset and liability approach to financial accounting for income taxes. In the event differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities result in deferred tax assets, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance is provided for a portion or all of the deferred tax assets when there is an uncertainty regarding the Company’s ability to recognize the benefits of the assets in future years. Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years. Since management could not determine the likelihood that the benefit of the deferred tax asset would be realized no deferred tax asset was recognized by the Company. Earnings (loss) per Share Earnings (loss) per share (EPS) are calculated in accordance with Accounting Standards Codification, (“ASC”) No. 260, Earnings per Share (ASC 260), which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS does not apply to the Company due to the absence of dilutive potential common shares. The adoption of ASC 260 had no effect on previously reported EPS. FASB Accounting Standards Codification The company presents its financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). In June 2009, the Financial Accounting Standards Board (“FASB”) completed its accounting guidance codification project. The FASB Accounting Standards Codification (“ASC”) became effective for the Company’s financial statements issued subsequent to June 30, 2009 and is the single source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. As of the effective date, the company will no longer refer to the authoritative guidance dictating its accounting methodologies under the previous accounting standards hierarchy. Instead, the Company will refer to the ASC Codification as the sole source of authoritative literature. Recent Accounting Pronouncements The company values its financial instruments as required by FASB ASC 825, “ Disclosures about Fair Value of Financial Instruments

NOTES RECEIVABLE AND ACCRUED IN

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES	NOTE B -NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES Receivables from related parties primarily consist of two notes of $1,565,292 and $489,154 which are payable in quarterly installments of interest only. The notes accrue interest at 10% per annum. The maturity date of these notes has been extended to December 31, 2019. 2017 2016 Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly $ 2,054,446 $ 2,054,446 Accrued interest – related parties 51,783 51,783 Total notes and accounts receivable – related parties $ 2,106,229 $ 2,106,229 A subsequent payment for interest of $51,783 and principal of $500,000 on notes receivable was received in February 2018 which makes the notes and interest receivable balances current.

NOTES PAYABLE AND ACCRUED INTER

NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES	NOTE C -NOTES PAYABLE AND ACCRUED INTEREST – RELATED PARTIES 2017 2016 Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly $ 816,376 $ 816,376 Accrued interest and intercompany – related parties 20,577 20,577 Total notes payable – related parties $ 836,953 $ 836,953 Payments due by period Total 2018 2019 2020 2021 2022 Thereafter Long term debt $ 816,376 $ 816,376 $ — $ — $ — $ — $ — $ 816,376 $ 816,376 $ — $ — $ — $ — $ — Subsequent payments for interest due on notes payable were made in February 2018 for $20,577 which makes the notes and interest payable balances current.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE D -INCOME TAXES Deferred income taxes reflect the tax effects of temporary timing differences between carrying amounts of assets and liabilities reflected on the financial statements and the amounts used for income tax purposes. The tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets. The Company had ($4,898) in NOL carry forward from 2012 that it utilized in 2013, 2015 and 2016. Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years. The following table presents the principal reasons for the differences between the Company’s effective tax rate and the United States statutory income tax rate. 2017 2016 2015 Federal income tax at statutory rate per books $ (541 ) $ 330 $ 1,736 Change in valuation allowance (541 ) — — Net operating loss — (330 ) (1,736 ) Federal income tax per tax return $ — $ — $ — Effective income tax rate 0.0 % 0.0 % 0.0 % The Company’s Forms 1120, U.S. Corporation Income Tax Returns

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2017
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	NOTE E -FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, accounts receivable related parties, notes receivable related parties and accounts payable related parties approximate fair value due to short-term maturities of these assets and liabilities.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE F -COMMITMENTS AND CONTINGENCIES The Company is not involved in any legal proceedings. Management is not aware of any actions that could potentially have a material adverse effect on the Company’s financial position

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	12 Months Ended
	Dec. 31, 2017
Shareholders' equity
COMPREHENSIVE INCOME	NOTE G -COMPREHENSIVE INCOME Accounting Standards Codification, (“ASC”) No. 220, Reporting Comprehensive Income, (ASC 220), requires that total comprehensive income be reported in the financial statements. For the years ended December 31, 2017, 2016, and 2015, the Company’s comprehensive income was equal to its net income and the Company does not have income meeting the definition of other comprehensive income.

QUARTERLY DATA (UNADITED)

QUARTERLY DATA (UNADITED)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY DATA (UNADITED)	NOTE H -QUARTERLY DATA (UNAUDITED) The table below reflects the Company’s selected quarterly information for the years ended December 31, 2017 and 2016. Year ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 48,577 25,474 27,154 26,210 Net income from continuing operations before taxes (48,577 ) (25,474 ) (27,154 ) (26,210 ) Interest income 50,658 51,221 51,783 51,783 Interest expense 20,130 20,354 20,577 20,577 Income tax expense — — — — Net income applicable to common shareholders $ (18,049 ) $ 5,393 $ 4,052 $ 4,996 Earnings per share Weighted average earnings per share applicable to common shares $ (0.02 ) $ 0.01 $ — $ — Year ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 48,547 22,418 23,700 27,281 Net income from continuing operations before taxes (48,547 ) (22,418 ) (23,700 ) (27,281 ) Interest income 51,220 51,221 51,783 51,783 Interest expense 20,353 20,354 20,577 20,577 Income tax expense — — — — Net income applicable to common shareholders $ (17,680 ) $ 8,449 $ 7,506 $ 3,925 Earnings per share Weighted average earnings per share applicable to common shares $ (0.02 ) $ 0.01 $ 0.01 $ —

RELATED PARTIES TRANSACTIONS

RELATED PARTIES TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTIES TRANSACTIONS	NOTE I -RELATED PARTIES TRANSACTIONS The Company has historically engaged in and may continue to engage in certain business transactions with related parties, including but not limited to asset acquisition, dispositions, interest income, interest expense and general and administrative expenses. Transactions involving related parties cannot be presumed to be carried out on an arm’s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in best interest of our company.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE J –SUBSEQUENT EVENTS The Company has evaluated subsequent events through March 28, 2018, the date the financial statements were available to be issued, and has determined that there were subsequent payments made in February 2018 for interest on notes payable and payments received for principal and interest on notes receivable.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations From 2010 through April 2012, the Company engaged in the business of investing in real estate and purchased land held for investment or sale. Our current source of revenue consists of interest on notes receivables from related party entities. Any adverse conditions that could affect the financial condition of these entities, and specifically their ability to service debt obligation owed, could have a material effect on the financial statements.
Organization and Business	Organization and Business First Equity Properties, Inc. is a Nevada based corporation organized in December 19, 1996 and the Company is headquartered in Dallas, TX. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable. FEPI is a publicly traded company however, no trading market presently exists for the shares of common stock and its value is therefore not determinable.
Cash Equivalents	Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term investments with original maturities of three months or less to be cash equivalents.
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with Accounting Standards Codification, (“ASC”) No. 740, “Accounting for Income Taxes”. ASC 740 requires an asset and liability approach to financial accounting for income taxes. In the event differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities result in deferred tax assets, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance is provided for a portion or all of the deferred tax assets when there is an uncertainty regarding the Company’s ability to recognize the benefits of the assets in future years. Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years. Since management could not determine the likelihood that the benefit of the deferred tax asset would be realized no deferred tax asset was recognized by the Company.
Earnings (loss) per Share	Earnings (loss) per Share Earnings (loss) per share (EPS) are calculated in accordance with Accounting Standards Codification, (“ASC”) No. 260, Earnings per Share (ASC 260), which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS does not apply to the Company due to the absence of dilutive potential common shares. The adoption of ASC 260 had no effect on previously reported EPS.
FASB Accounting Standards Codification	FASB Accounting Standards Codification The company presents its financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). In June 2009, the Financial Accounting Standards Board (“FASB”) completed its accounting guidance codification project. The FASB Accounting Standards Codification (“ASC”) became effective for the Company’s financial statements issued subsequent to June 30, 2009 and is the single source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. As of the effective date, the company will no longer refer to the authoritative guidance dictating its accounting methodologies under the previous accounting standards hierarchy. Instead, the Company will refer to the ASC Codification as the sole source of authoritative literature.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The company values its financial instruments as required by FASB ASC 825, “ Disclosures about Fair Value of Financial Instruments

NOTES RECEIVABLE AND ACCRUED 18

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
NOTES RECEIVABLE AND ACCRUED INTEREST-RELATED PARTIES	2017 2016 Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly $ 2,054,446 $ 2,054,446 Accrued interest – related parties 51,783 51,783 Total notes and accounts receivable – related parties $ 2,106,229 $ 2,106,229

NOTES PAYABLE AND ACCRUED INT19

NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES	2017 2016 Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly $ 816,376 $ 816,376 Accrued interest and intercompany – related parties 20,577 20,577 Total notes payable – related parties $ 836,953 $ 836,953 Payments due by period Total 2018 2019 2020 2021 2022 Thereafter Long term debt $ 816,376 $ 816,376 $ — $ — $ — $ — $ — $ 816,376 $ 816,376 $ — $ — $ — $ — $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of differences between company's effective tax rate and U.S statutory income rate	2017 2016 2015 Federal income tax at statutory rate per books $ (541 ) $ 330 $ 1,736 Change in valuation allowance (541 ) — — Net operating loss — (330 ) (1,736 ) Federal income tax per tax return $ — $ — $ — Effective income tax rate 0.0 % 0.0 % 0.0 %

QUARTERLY DATA (Tables)

QUARTERLY DATA (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
SCHEDULE OF QUARTERLY DATA	Year ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 48,577 25,474 27,154 26,210 Net income from continuing operations before taxes (48,577 ) (25,474 ) (27,154 ) (26,210 ) Interest income 50,658 51,221 51,783 51,783 Interest expense 20,130 20,354 20,577 20,577 Income tax expense — — — — Net income applicable to common shareholders $ (18,049 ) $ 5,393 $ 4,052 $ 4,996 Earnings per share Weighted average earnings per share applicable to common shares $ (0.02 ) $ 0.01 $ — $ — Year ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 48,547 22,418 23,700 27,281 Net income from continuing operations before taxes (48,547 ) (22,418 ) (23,700 ) (27,281 ) Interest income 51,220 51,221 51,783 51,783 Interest expense 20,353 20,354 20,577 20,577 Income tax expense — — — — Net income applicable to common shareholders $ (17,680 ) $ 8,449 $ 7,506 $ 3,925 Earnings per share Weighted average earnings per share applicable to common shares $ (0.02 ) $ 0.01 $ 0.01 $ —

NOTES RECEIVABLE AND ACCRUED 22

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES - NOTES RECEIVABLE AND ACCRUED INTEREST-RELATED PARTIES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly	$ 2,054,446	$ 2,054,446
Accrued interest – related parties	51,783	51,783
Total notes and accounts receivable – related parties	$ 2,106,229	$ 2,106,229

NOTES RECEIVABLE AND ACCRUED 23

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES (Details Narrative) - USD ($)	Feb. 28, 2018	Dec. 31, 2015
Receivable related parties primary note 1 mature on 12/31/2019		$ 1,565,292
Receivable related parties primary note 2 12/31/2019		$ 489,154
Notes accrued interest per annum		10.00%
Subsequent Event [Member]
Interest payment received	$ 51,783
Principal payment received	$ 500,000

NOTES PAYABLE AND ACCRUED INT24

NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES - NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly	$ 816,376	$ 816,376
Accrued interest and intercompany – related parties	20,577	20,577
Total notes payable – related parties	$ 836,953	$ 836,953

NOTES PAYABLE AND ACCRUED INT25

NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES (Details Narrative)	Feb. 28, 2018USD ($)
Subsequent Event [Member]
Interest paid on notes	$ 20,577

LONG TERM DEBT PAYMENTS DUE BY

LONG TERM DEBT PAYMENTS DUE BY PERIOD (DETAILS) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
LONG TERM DEBT PAYMENTS DUE BY PERIOD DETAILS
Long term debt Payments due in year one	$ 816,376	$ 816,376
Long term debt Payments due in year two	0	0
Long term debt Payments due in year three	0	0
Long term debt Payments due in year four	0	0
Long term debt Payments due in year five	0	0
Long term debt Payments due Thereafter	0	0
Long term debt Payments due Total	$ 816,376	$ 816,376

INCOME TAXES - Schedule of diff

INCOME TAXES - Schedule of differences between company's effective tax rate and U.S statutory income rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Federal income tax at statutory rate per books	$ (541)	$ 330	$ 1,736
Change in valuation allowance	(541)
Net operating loss		(330)	(1,736)
Federal income tax per tax return
Effective income tax rate	0.00%	0.00%	0.00%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Dec. 31, 2017USD ($)
Income Tax Disclosure [Abstract]
NOL carry forward from 2012	$ (4,898)

QUARTERLY DATA - SCHEDULE OF QU

QUARTERLY DATA - SCHEDULE OF QUARTERLY DATA (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenue									$ 0	$ 0	$ 0
Operating expenses	26,210	27,154	25,474	48,577	27,281	23,700	22,418	48,547	127,415	121,946	113,142
Net income from continuing operations before taxes	(26,210)	(27,154)	(25,474)	(48,577)	(27,281)	(23,700)	(22,418)	(48,547)
Interest income	51,783	51,783	51,221	50,658	51,783	51,783	51,221	51,220
Interest expense	20,577	20,577	20,354	20,130	20,577	20,577	20,354	20,353
Income tax expense									$ 0	$ 0	$ 0
Net income applicable to common shareholders	$ 4,996	$ 4,052	$ 5,393	$ (18,049)	$ 3,925	$ 7,506	$ 8,449	$ (17,680)
Earnings per share Weighted average earnings per share applicable to common shares			$ 0.01	$ (0.02)		$ .01	$ .01	$ (.02)