EVO Transportation & Energy Services (EVOA) 10-K 24 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 24, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	MINN SHARES INC
Entity Central Index Key	728447
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Document Type	10-K
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$125,477
Entity Common Stock Shares Outstanding		1,191,348

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
CURRENT ASSETS:
Cash	$11,966	$7,477
Prepaid Expenses	708	825
TOTAL ASSETS	12,674	8,302
CURRENT LIABILITIES:
Payables and accrued expenses	3,327	3,477
Due to Globe Resources Group	108,428	61,406
Due to related parties	219,806	210,373
Total Current Liabilities	331,561	275,256
SHAREHOLDERS' DEFICIT:
Preferred stock, $.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding
Common stock, $.0001 par value; 100,000,000 shares authorized; 1,191,348 shares issued and outstanding	119	119
Additional paid-in-capital	594,022	594,022
Accumulated deficit	-913,028	-861,095
Total Shareholders' Deficit	-318,887	-266,954
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$12,674	$8,302

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Balance Sheets [Abstract]
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	1,191,348	1,191,348
Common stock, shares outstanding	1,191,348	1,191,348

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Statement of Operations [Abstract]
OPERATING EXPENSES	$38,584	$51,223
OPERATING LOSS	-38,584	-51,223
INTEREST EXPENSE	13,349	11,147
NET LOSS	($51,933)	($62,370)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted	1,191,348	1,191,348
NET LOSS PER COMMON SHARE:
Basic and diluted	($0.04)	($0.05)

Statements_of_Shareholders_Def

Statements of Shareholders' Deficit (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2012	($204,584)	$119	$594,022	($798,725)
Balance, Shares at Dec. 31, 2012		1,191,348
Net loss	-62,370			-62,370
Balance at Dec. 31, 2013	-266,954	119	594,022	-861,095
Balance, Shares at Dec. 31, 2013		1,191,348
Net loss	-51,933			-51,933
Balance at Dec. 31, 2014	($318,887)	$119	$594,022	($913,028)
Balance, Shares at Dec. 31, 2014		1,191,348

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	($51,933)	($62,370)
Adjustments to reconcile net loss to net cash used by operating activities:
Interest added to due to Globe Resources Group	4,005	1,813
Interest added to due to related parties	9,344	9,334
Changes in operating assets and liabilities:
Prepaid Expenses	117	-119
Payables and accrued expenses	-150	-4,365
Net cash used by operating activities	-38,617	-55,707
Cash flows from financing activities:
Due to Globe Resources Group	43,018	59,593
Due to related parties	88	903
Net cash provided by financing activities	43,106	60,496
Net increase in cash	4,489	4,789
Cash beginning of year	7,477	2,688
Cash end of year	$11,966	$7,477

Organization_and_Significant_A

Organization and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Organization and Significant Accounting Policies [Abstract]
Organization and Significant Accounting Policies	1. Organization and Significant Accounting Policies
	Organization
	Minn Shares Inc., a Delaware corporation (the “Company”) was incorporated in the State of Delaware on October 22, 2010 to effect the reincorporation of Minn Shares Inc., a Minnesota corporation (“Minn Shares Minnesota”) in the State of Delaware.
	The current business purpose of the Company is to seek the acquisition of or merger with an existing company.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that may affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Income Taxes
	Deferred income taxes are provided for temporary differences between the financial reporting and tax basis of assets and liabilities. Deferred taxes are reduced by a valuation allowance when, in the opinion ofmanagement, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of the enactment.
	In evaluating the ultimate realization of deferred income tax assets, management considers whether it is more likely than not that the deferred income tax assets will be realized. Management establishes a valuation allowance if it is more likely than not that all or a portion of the deferred income tax assets will not be utilized. The ultimate realization of deferred income tax assets is dependent on the generation of future taxable income, which must occur prior to the expiration of the net operating loss carryforwards.
	Loss Per Common Share
	Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding. Diluted loss per common share is computed by dividing net loss by weighted average number of common shares outstanding and common share equivalents when dilutive. There are no common share equivalents outstanding.
	Fair Value of Financial Investments
	The carrying value of current financial assets and liabilities approximates their fair values due to their short term nature.

Going_Concern

Going Concern	12 Months Ended
	Dec. 31, 2014
Going Concern [Abstract]
Going Concern	2. Going Concern
	The Company is a shell company, has not earned any revenues from operations since 2001, suffered recurring losses from operations, and has a shareholders’ deficit. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. The Company’s ability to continue as a going concern is also dependent on its ability to locate a suitable target company and ultimately enter into a possible reverse merger with such company. Management’s plan includes obtaining additional funds by equity financing through a reverse merger transaction and/or related party advances, however, there is no assurance of additional funding being available.

Due_to_Globe_Resources_Group

Due to Globe Resources Group	12 Months Ended
	Dec. 31, 2014
Due to Globe Resources Group [Absract]
Due to Globe Resources Group	3. Due to Globe Resources Group
	On May 16, 2013, the Company entered into an agreement (the “Option Agreement”) with The Globe Resources Group, LLC (“Globe”), pursuant to which Globe acquired the right to purchase, at any time through the date that is twelve (12) months from the date of the Option Agreement, controlling shares of the Company’s common stock. Specific details of the Option Agreement are set forth in the Company’s Form 8-K filed with the SEC on May 22, 2013.
	Upon execution of the Option Agreement, Globe delivered an advance of $59,593 to the Company to cover its expenses during the Option Period, as further described in the Option Agreement. On May 13, 2014, the Company entered into an agreement to extend the option expiration date for an additional 30 days. On June 5, 2014, the Company received notification that Globe had elected not to exercise its option to purchase shares of the Company under the Option Agreement. Accordingly, the Option Agreement expired on June 15, 2014. In connection with the extension, and again on August 7, 2014, Globe delivered advances of $15,000 and $28,018, respectively, to the Company to cover specific current payables and legal and administrative expenses related to the extension.
	Due to Globe consisted of advances and interest payable to Globe. At December 31, 2014 and December 31, 2013, $108,428 and $61,406, including $5,817 and $1,813, respectively of accrued interest, was owed to Globe. The advances accrue annual interest at 5%. Interest expense was $4,005 and $1,813 for the years ended December 31, 2014 and 2013,respectively.
	As required by the Option Agreement, the Company will seek to find a third party purchaser. If sold, any consideration received will be used first to pay off related selling costs, and then repay related party payables (see Note 4). Remaining proceeds, if any, shall be used to repay advances made by Globe. In the event the Company does not consummate a sale with a third party purchaser, no amounts under the loan are payable to Globe.

Due_to_Related_Parties

Due to Related Parties	12 Months Ended
	Dec. 31, 2014
Due to Related Parties [Abstract]
Due to Related Parties	4. Due to Related Parties
	Due to related parties consisted of advances and expenses paid on behalf of the Company by Paramount Trading, Ltd. (“Paramount”), a company owned by one of the Company’s current shareholders, and the Company’s President and director. At December 31, 2014 and 2013, $219,806 and $210,373, including $32,809 and $23,464, respectively of accrued interest, is owed to these related parties. The advances bear annual interest at 5% and are due on demand. Interest expense to related parties was $9,344 and $9,334 for 2014 and 2013, respectively.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Taxes [Abstract]
Income Taxes	5. Income Taxes
	A reconciliation between the expected federal income tax rate and the actual tax rate is as follows:
		Year Ended December 31,
		2014			2013
	Statutory income tax rate		34	%		34	%
	State income tax, net of federal benefit		6.5			6.5
	Valuation of deferred tax assets		(40.5	)		(40.5	)
			-	%		-	%
	A summary of deferred tax assets and liabilities are as follows:
		December 31,
		2014			2013
	Deferred tax assets:
	Operating loss carryforwards	$	260,156		$	239,209
	Capital loss carryforwards		42,548			42,548
	Total deferred tax assets		302,704			281,757
	Valuation allowance		(302,704	)		(281,757	)
	Net deferred taxes	$	-		$	-
	Deferred income tax assets have been reduced by a valuation allowance as it is more likely than not that they will not be realized. The valuation allowance increased by $20,947 and $25,260 for the years ended December 31, 2014 and 2013, respectively.
	At December 31, 2014, the Company had net operating loss carryforwards of approximately $642,000 for income tax purposes that expire starting in 2018. The Company established a valuation allowance for the full amount of net deferred tax asset at December 31, 2014 because it cannot demonstrate that it is more likely than not that it will realize the benefit of that asset. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section 382 as a result of changes in ownership.
	It is the Company’s practice to recognize penalties and/or interest related to income tax matters in the interest and penalties expense. There are no interest and penalties recognized in the statements of operations or accrued on the balance sheets.
	The Company is subject to U.S. federal, state, or local income tax examination by tax authorities for all years for which a loss carryforward is utilized in subsequent periods.

Organization_and_Significant_A1

Organization and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Organization and Significant Accounting Policies [Abstract]
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that may affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Income Taxes	Income Taxes
	Deferred income taxes are provided for temporary differences between the financial reporting and tax basis of assets and liabilities. Deferred taxes are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not berealized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of the enactment.
	In evaluating the ultimate realization of deferred income tax assets, management considers whether it is more likely than not that the deferred income tax assets will be realized. Management establishes a valuation allowance if it is more likely than not that all or a portion of the deferred income tax assets will not be utilized. The ultimate realization of deferred income tax assets is dependent on the generation of future taxable income, which must occur prior to the expiration of the net operating loss carryforwards.
Loss Per Common Share	Loss Per Common Share
	Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding. Diluted loss per common share is computed by dividing net loss by weighted average number of common shares outstanding and common share equivalents when dilutive. There are no common share equivalents outstanding.
Fair Value of Financial Investments	Fair Value of Financial Investments
	The carrying value of current financial assets and liabilities approximates their fair values due to their short term nature.

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Taxes [Abstract]
Summary of reconciliation between the expected federal income tax rate and the actual tax rate		Year Ended December 31,
		2014			2013
	Statutory income tax rate		34	%		34	%
	State income tax, net of federal benefit		6.5			6.5
	Valuation of deferred tax assets		(40.5	)		(40.5	)
			-	%		-	%
Summary of deferred tax assets and liabilities		December 31,
		2014			2013
	Deferred tax assets:
	Operating loss carryforwards	$	260,156		$	239,209
	Capital loss carryforwards		42,548			42,548
	Total deferred tax assets		302,704			281,757
	Valuation allowance		(302,704	)		(281,757	)
	Net deferred taxes	$	-		$	-

Due_to_Globe_Resources_Group_D

Due to Globe Resources Group (Details) (USD $)	0 Months Ended				12 Months Ended
	Aug. 07, 2014	Jun. 05, 2014	13-May-14	16-May-13	Dec. 31, 2014	Dec. 31, 2013
Due to Globe Resources Group (Textual) [Abstract]
Description of option agreement				On May 16, 2013, the Company entered into an agreement (the ''Option Agreement'') with The Globe Resources Group, LLC (''Globe''), pursuant to which Globe acquired the right to purchase, at any time through the date that is twelve (12) months from the date of the Option Agreement, controlling shares of the Company's common stock.
Amount due to globe	$28,018		$15,000	$59,593
Advances due to Globe					108,428	61,406
Accrued interest due to Globe					5,817	1,813
Option agreement expired		15-Jun-14
Interest added to due to Globe Resources Group					$4,005	$1,813
Capitalized Globe					5.00%

Due_to_Related_Parties_Details

Due to Related Parties (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Due to Related Parties (Textual) [Abstract]
Amounts due to related parties	$219,806	$210,373
Accrued interest due to related parties	32,809	23,464
Interest rate on advances with related parties	5.00%
Interest expense on due to related parties	$9,344	$9,334

Income_Taxes_Details

Income Taxes (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Summary of reconciliation between the expected federal income tax rate and the actual tax rate [Abstract]
Statutory income tax rate	34.00%	34.00%
State income tax, net of federal benefit	6.50%	6.50%
Valuation of deferred tax assets	-40.50%	-40.50%
Total

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Summary of deferred tax assets and liabilities [Abstract]
Operating loss carryforwards	$260,156	$239,209
Capital loss carryforwards	42,548	42,548
Total deferred tax assets	302,704	281,757
Valuation allowance	-302,704	-281,757
Net deferred taxes

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Taxes (Textual)
Increase in valuation allowance	$20,947	$25,260
Net operating loss carryforwards	$642,000
Net operating loss carryforwards expiration dates	31-Dec-18