Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 12, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Energie Holdings, Inc. | ' |
Entity Central Index Key | '0000774937 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
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 Common Stock, Shares Outstanding | ' | 51,400,000 |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
Balance_Sheets_Unaudited
Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
ASSETS | ' | ' |
Total assets | $0 | $0 |
Current liabilities: | ' | ' |
Accounts payable | 363,676 | 98,759 |
Stockholders equity: | ' | ' |
Preferred stock, $.01 par value; 1,000,000 shares authorized; no shares issued and outstanding at June 30, 2014 or December 31, 2013 | 0 | 0 |
Common stock, $.01 par value; 60,000,000 shares authorized; 51,400,000 shares issued and 19,060,458 shares outstanding at June 30, 2014 and 45,000,000 shares issued and 19,060,458 shares outstanding at December 31, 2013 | 194,604 | 190,604 |
Additional paid-in capital | 91,046,859 | 91,041,859 |
Accumulated other comprehensive loss | -63,201 | -63,201 |
Accumulated deficit | -91,541,938 | -91,268,021 |
Total stockholders equity | -363,676 | -98,759 |
Total liabilities and stockholders deficit | $0 | $0 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 51,400,000 | 45,000,000 |
Common stock, shares outstanding | 19,060,458 | 19,060,458 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' |
General and administrative expenses | 100,492 | 4,405 | 273,917 | 8,645 |
Net loss | ($100,492) | ($4,405) | ($273,917) | ($8,645) |
Net loss per common share: Basic and diluted | ($0.01) | $0 | ($0.01) | $0 |
Weighted average common shares outstanding: Basic and diluted | 19,460,458 | 78,312,300 | 19,444,988 | 79,924,317 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Operating Activities: | ' | ' |
Net loss | ($273,917) | ($8,645) |
Stock issued for services | 24,000 | ' |
Changes in operating assets and liabilities: | ' | ' |
Accounts payable | 249,917 | 8,645 |
Net cash used in operating activities | ' | ' |
Investing Activities: | ' | ' |
Net cash used in investing activities | ' | ' |
Financing Activities: | ' | ' |
Net cash used in financing activities | ' | ' |
Net change in cash | ' | ' |
Cash, beginning of period | ' | ' |
Cash, end of period | ' | ' |
Non-cash transactions: | ' | ' |
Equity issuance costs recorded as additional paid-in capital and accounts payable | $15,000 | ' |
Note_1_Description_of_Business
Note 1. Description of Business and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Note 1. Description of Business and Summary of Significant Accounting Policies | ' |
Note 1. Description of Business and Summary of Significant Accounting Policies | |
Description of Business | |
On January 27, 2014, pursuant to the Delaware Holding Company formation statute, DGCL Section 251(g), Alas Aviation Corp. ("Alas") entered into an Agreement and Plan of Merger into a holding company (the “Agreement") with Énergie Holdings, Inc. (we, us, our, the “Company” or “Énergie”) and Alas Acquisition Company ("AAC"), both wholly-owned subsidiaries of Alas. The Agreement provided for the merger of Alas with and into Énergie, with Énergie being the surviving corporation in that merger. Contemporaneously with Alas’ merger with and into Énergie pursuant to the Holding Company Formation Statute (and the Agreement), the shareholders of Alas became shareholders of Énergie on a one share for one share basis pursuant to the Agreement. | |
As a result of this reorganization into a Holding Company structure, Énergie became the publicly quoted parent holding company with AAC becoming a wholly-owned subsidiary of Énergie. Upon consummation of the Agreement, Énergie common stock was deemed to be registered under Section 12(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 12g-3(a) promulgated thereunder. For purposes of Rule 12g-3(a), Énergie is the successor issuer to Alas. | |
On February 13, 2014, our symbol changed to “ELED” to reflect the change in our plan of operations. | |
Basis of Presentation | |
The accompanying condensed consolidated balance sheet as of December 31, 2013, has been derived from audited financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual audited financial statements and in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. In the opinion of management, such unaudited information includes all adjustments (consisting only of normal recurring accruals) necessary for a fair presentation of this interim information. All intercompany transactions have been eliminated in consolidation. Operating results and cash flows for interim periods are not necessarily indicative of results that can be expected for the entire year. The information included in this report should be read in conjunction with our audited financial statements and notes thereto included in our Annual Report on Form 10-KT for the period ended December 31, 2014. | |
Going Concern | |
As shown in the accompanying financial statements, we have no assets, a working capital deficit of $318,939 as of June 30, 2014 and are not currently generating revenue from operations. These factors raise substantial doubt regarding our ability to continue as a going concern. | |
Our ability to continue as a going concern is dependent on our ability to further implement our business plan, raise capital, and generate revenues. The condensed consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. Additionally, current economic conditions in the United States and globally create significant challenges attaining sufficient funding | |
Our ability to continue existence is dependent upon commencing our planned operations, management’s ability to develop and achieve profitable operations and/or upon obtaining additional financing to carry out our planned business. We intend to fund our business development, acquisition endeavors and operations through equity and debt financing arrangements. We are dependent upon our Chief Executive Officer to provide financing for working capital purposes. However, there can be no assurance that these arrangements will be sufficient to fund our ongoing capital expenditures, working capital, and other cash requirements. The outcome of these matters cannot be predicted at this time. These matters raise substantial doubt about our ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments that might necessary should we be unable to continue as a going concern. | |
Net Loss per Share | |
Basic net earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Outstanding potential common shares are considered anti-dilutive if a company is in a net loss position. As of June 30, 2014, we had no potential common shares outstanding. | |
Reclassifications | |
Certain prior year amounts have been reclassified to conform with the current year presentation. | |
Recently Issued Accounting Pronouncements | |
On April 10, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-08 (ASU 2014-08) Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360) – Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. It is effective for annual periods beginning on or after December 15, 2014. Early adoption is permitted but only for disposals that have not been reported in financial statements previously issued. We do not expect the impact of the adoption of ASU 2014-08 to be material to our consolidated financial statements. | |
On May 28, 2014, the FASB issued ASU No. 2014-09 (ASU 2014-09) Revenue from Contracts with Customers. ASU 2014-09 supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. | |
On June 10, 2014, the FASB issued ASU No. 2014-10 (ASU 2014-10), Development Stage Entities (Topic 915) – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) its entirety from current accounting guidance. We have elected early adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. | |
On June 12, 2014, the FASB issued ASU No. 2014-11 (ASU 2014-11), Transfers and Servicing (Topic 860) – Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, to improve the financial reporting of repurchase agreements and other similar transactions. The new standard changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires enhanced disclosures about repurchase agreements and other similar transactions. We do not expect the impact of the adoption of ASU 2014-11 to be material to our consolidated financial statements. | |
On June 19, 2014, FASB issued ASU No. 2014-12 (ASU 2014-12), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. We do not expect the impact of the adoption of ASU 2014-12 to be material to our consolidated financial statements. |
Note_2_Related_Party_Transacti
Note 2. Related Party Transactions | 6 Months Ended |
Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Note 2. Related Party Transactions | ' |
Note 2. Related Party Transactions | |
At June 30, 2014, $173,083 of accounts payable is due to Énergie, LLC, a company with our same management team that was funding our operations until we completed our business combination with them on July 2, 2014. |
Note_3_Equity
Note 3. Equity | 6 Months Ended |
Jun. 30, 2014 | |
Equity [Abstract] | ' |
Note 3. Equity | ' |
Note 3. Equity | |
During the six months ended June 30, 2014, we issued 400,000 common shares to our outside legal counsel for services. The shares were valued at $24,000 based on the $0.06 stock price on the day of issuance and charged to operations. |
Note_4_Contingencies
Note 4. Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Note 4. Contingencies | ' |
Note 4. Contingencies | |
Current management discovered that the Company’s former management recorded various obligations to itself and to third parties of expenditures not deemed benefitting the Company or authorized by the Company’s sole director as required. The amount of these unauthorized expenditures totaled $91,172, including $60,000 in management fees. These expenditures were reversed and are not part of the accompanying financial statements. While current management believes that none of the $91,172 is an obligation of ours, it is not known what representations were made to these vendors or whether we could, in fact, be eventually responsible to pay some or all of the indicated amount. |
Note_5_Subsequent_Events
Note 5. Subsequent Events | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Note 5. Subsequent Events | ' |
Note 5. Subsequent Events | |
Recapitalization | |
On July 2, 2014, we completed our merger with Énergie, LLC, which will be accounted for as a recapitalization. The accounting is identical to that resulting from a reverse acquisition; that is, there will be no step up in basis, and no goodwill or other intangible is recorded. In consideration of the merger, we issued 33,000,000 shares of our common stock. |
Note_1_Description_of_Business1
Note 1. Description of Business and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Description of Business | ' |
Description of Business | |
On January 27, 2014, pursuant to the Delaware Holding Company formation statute, DGCL Section 251(g), Alas Aviation Corp. ("Alas") entered into an Agreement and Plan of Merger into a holding company (the “Agreement") with Énergie Holdings, Inc. (we, us, our, the “Company” or “Énergie”) and Alas Acquisition Company ("AAC"), both wholly-owned subsidiaries of Alas. The Agreement provided for the merger of Alas with and into Énergie, with Énergie being the surviving corporation in that merger. Contemporaneously with Alas’ merger with and into Énergie pursuant to the Holding Company Formation Statute (and the Agreement), the shareholders of Alas became shareholders of Énergie on a one share for one share basis pursuant to the Agreement. | |
As a result of this reorganization into a Holding Company structure, Énergie became the publicly quoted parent holding company with AAC becoming a wholly-owned subsidiary of Énergie. Upon consummation of the Agreement, Énergie common stock was deemed to be registered under Section 12(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 12g-3(a) promulgated thereunder. For purposes of Rule 12g-3(a), Énergie is the successor issuer to Alas. | |
On February 13, 2014, our symbol changed to “ELED” to reflect the change in our plan of operations. | |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying condensed consolidated balance sheet as of December 31, 2013, has been derived from audited financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual audited financial statements and in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. In the opinion of management, such unaudited information includes all adjustments (consisting only of normal recurring accruals) necessary for a fair presentation of this interim information. All intercompany transactions have been eliminated in consolidation. Operating results and cash flows for interim periods are not necessarily indicative of results that can be expected for the entire year. The information included in this report should be read in conjunction with our audited financial statements and notes thereto included in our Annual Report on Form 10-KT for the period ended December 31, 2014. | |
Going Concern | ' |
Going Concern | |
As shown in the accompanying financial statements, we have no assets, a working capital deficit of $318,939 as of June 30, 2014 and are not currently generating revenue from operations. These factors raise substantial doubt regarding our ability to continue as a going concern. | |
Our ability to continue as a going concern is dependent on our ability to further implement our business plan, raise capital, and generate revenues. The condensed consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. Additionally, current economic conditions in the United States and globally create significant challenges attaining sufficient funding | |
Our ability to continue existence is dependent upon commencing our planned operations, management’s ability to develop and achieve profitable operations and/or upon obtaining additional financing to carry out our planned business. We intend to fund our business development, acquisition endeavors and operations through equity and debt financing arrangements. We are dependent upon our Chief Executive Officer to provide financing for working capital purposes. However, there can be no assurance that these arrangements will be sufficient to fund our ongoing capital expenditures, working capital, and other cash requirements. The outcome of these matters cannot be predicted at this time. These matters raise substantial doubt about our ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments that might necessary should we be unable to continue as a going concern. | |
Net Loss per Share | ' |
Net Loss per Share | |
Basic net earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Outstanding potential common shares are considered anti-dilutive if a company is in a net loss position. As of June 30, 2014, we had no potential common shares outstanding. | |
Reclassifications | ' |
Reclassifications | |
Certain prior year amounts have been reclassified to conform with the current year presentation. | |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
On April 10, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-08 (ASU 2014-08) Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360) – Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. It is effective for annual periods beginning on or after December 15, 2014. Early adoption is permitted but only for disposals that have not been reported in financial statements previously issued. We do not expect the impact of the adoption of ASU 2014-08 to be material to our consolidated financial statements. | |
On May 28, 2014, the FASB issued ASU No. 2014-09 (ASU 2014-09) Revenue from Contracts with Customers. ASU 2014-09 supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. | |
On June 10, 2014, the FASB issued ASU No. 2014-10 (ASU 2014-10), Development Stage Entities (Topic 915) – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) its entirety from current accounting guidance. We have elected early adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. | |
On June 12, 2014, the FASB issued ASU No. 2014-11 (ASU 2014-11), Transfers and Servicing (Topic 860) – Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, to improve the financial reporting of repurchase agreements and other similar transactions. The new standard changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires enhanced disclosures about repurchase agreements and other similar transactions. We do not expect the impact of the adoption of ASU 2014-11 to be material to our consolidated financial statements. | |
On June 19, 2014, FASB issued ASU No. 2014-12 (ASU 2014-12), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. We do not expect the impact of the adoption of ASU 2014-12 to be material to our consolidated financial statements. |
Note_1_Description_of_Business2
Note 1. Description of Business and Summary of Significant Accounting Policies (Details Narrative) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Working Capital Deficit | ($318,939) |
Note_2_Related_Party_Transacti1
Note 2. Related Party Transactions (Details Narrative) (USD $) | Jun. 30, 2014 |
Related Party Transactions [Abstract] | ' |
Accounts Payable | $173,083 |
Note_3_Equity_Details_Narrativ
Note 3. Equity (Details Narrative) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Equity [Abstract] | ' | ' |
Stock Issued for Services, Shares | 400,000 | ' |
Stock Issued for Services, Value | $24,000 | ' |
Stock Issued, Price Per Share | $0.06 | ' |
Note_4_Contingencies_Details_N
Note 4. Contingencies (Details Narrative) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Unauthorized Expenditures | $91,172 |
Management Fees, Unauthorized | $60,000 |
Note_5_Subsequent_Events_Detai
Note 5. Subsequent Events (Details Narrative) (Subsequent Event [Member]) | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Event [Member] | ' |
Stock Issued in Consideration of Merger, Shares | 33,000,000 |