Document And Entity Information
| Document And Entity Information - shares | 6 Months Ended | |
| Jun. 30, 2015 | Aug. 11, 2015 | |
| Document Information [Line Items] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Jun. 30, 2015 | |
| Document Fiscal Year Focus | 2,015 | |
| Document Fiscal Period Focus | Q2 | |
| Entity Registrant Name | RIDGEFIELD ACQUISITION CORP | |
| Entity Central Index Key | 812,152 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Smaller Reporting Company | |
| Trading Symbol | RDGA | |
| Entity Common Stock, Shares Outstanding | 1,260,773 |
CONDENSED CONSOLIDATED BALANCE
| CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| ASSETS | ||
| Cash | $ 1,446 | $ 827 |
| TOTAL ASSETS | 1,446 | 827 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Accounts payable and accrued expenses | 8,909 | 14,214 |
| Related party note payable | 65,950 | 47,500 |
| TOTAL LIABILITIES | 74,859 | 61,714 |
| STOCKHOLDERS' DEFICIT | ||
| Preferred stock, $.01 par value; authorized - 5,000,000 shares, Issued - none | 0 | 0 |
| Common stock, $.001 par value; authorized - 30,000,000 shares, Issued and outstanding - 1,260,773 shares | 1,261 | 1,261 |
| Capital in excess of par value | 1,516,419 | 1,516,419 |
| Accumulated deficit | (1,591,093) | (1,578,567) |
| TOTAL STOCKHOLDERS' DEFICIT | (73,413) | (60,887) |
| TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 1,446 | $ 827 |
CONDENSED CONSOLIDATED BALANCE3
| CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares | Jun. 30, 2015 | Dec. 31, 2014 |
| Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
| Common stock, shares authorized | 30,000,000 | 30,000,000 |
| Common stock, shares issued | 1,260,773 | 1,260,773 |
| Common stock, shares outstanding | 1,260,773 | 1,260,773 |
CONDENSED CONSOLIDATED STATEMEN
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
| Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
| General and administrative expenses | $ 6,581 | $ 3,464 | $ 9,880 | $ 6,289 |
| TOTAL EXPENSES | 6,581 | 3,464 | 9,880 | 6,289 |
| OTHER INCOME | ||||
| Interest Expense | 1,485 | 746 | 2,646 | 1,206 |
| TOTAL OTHER INCOME | 1,485 | 746 | 2,646 | 1,206 |
| NET LOSS BEFORE TAXES | (8,066) | (4,210) | (12,526) | (7,495) |
| NET LOSS | $ (8,066) | $ (4,210) | $ (12,526) | $ (7,495) |
| NET LOSS PER COMMON SHARE | ||||
| Basic and Dilutive | $ (0.01) | $ 0 | $ (0.01) | $ (0.01) |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | ||||
| Basic and Dilutive | 1,260,773 | 1,260,773 | 1,260,773 | 1,260,773 |
CONDENSED CONSOLIDATED STATEME5
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
| Jun. 30, 2015 | Jun. 30, 2014 | |
| OPERATING ACTIVITIES | ||
| Net loss | $ (12,526) | $ (7,495) |
| Changes in assets and liabilities | ||
| Decrease in accounts payable and accrued expenses | (8,605) | (9,697) |
| Net Cash Used in Operating Activities | (21,131) | (17,192) |
| FINANCING ACTIVITIES | ||
| Proceeds from related party note | 21,750 | 15,000 |
| Net cash provided by financing activities | 21,750 | 15,000 |
| NET INCREASE (DECREASE) IN CASH | 619 | (2,192) |
| CASH, BEGINNING OF PERIODS | 827 | 4,405 |
| CASH, END OF PERIODS | $ 1,446 | $ 2,213 |
NATURE OF OPERATIONS AND BASIS
| NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 6 Months Ended |
| Jun. 30, 2015 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| NATURE OF OPERATIONS AND BASIS OF PRESENTATION | NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION (A) Nature of Operations Ridgefield Acquisition Corp. (the "Company") was incorporated under the laws of the State of Colorado on October 13, 1983. Effective June 23, 2006, the Company was reincorporated under the laws of the State of Nevada through the merger of the Company with a wholly-owned subsidiary of the Company. Since July 2000, the Company has suspended all operations, except for necessary administrative matters. The Company has no principal operations or revenue producing activities. The Company is now pursuing an acquisition strategy whereby it is seeking to arrange for a merger, acquisition or other business combination with a viable operating entity. Effective March 1, 2015, the Company relocated its principal offices to 31248 Oak Crest Drive, Suite 110, Westlake Village, California 91361. The registrant's new telephone number is (805) 416-7054. The Company occupies a portion of the offices occupied by BKF Capital Group, Inc. on a month to month basis for a monthly fee of $ 50 The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information. The financial information as of June 30, 2015 is derived from the audited consolidated financial statements presented in the Company's Annual Report on Form 10-K for the years ended December 31, 2014 and 2013. The unaudited condensed consolidated interim financial statements should be read in conjunction with the Company's Annual Report on Form 10-K, which contains the audited financial statements and notes thereto, together with the Plan of Operations for the year ended December 31, 2014. Certain information or footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted, pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management's opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The interim results for the three months and six months ended June 30, 2015 are not necessarily indicative of results for the full fiscal year. The accompanying unaudited condensed consolidated interim financial statements have been prepared on the basis of accounting principles applicable to a going concern which contemplates the realization of assets and extinguishment of liabilities in the normal course of business. As shown in the accompanying condensed interim financial statements, the Company has an accumulated deficit of approximately $ 1.59 The Company had cash on hand in the amount of $ 1,446 827 Basic income (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted income per common share is calculated by adjusting outstanding shares, assuming conversion of all potentially dilutive equity instruments. There is no difference in the calculation of basic and diluted income per share for the three months and six months ended June 30, 2015 and 2014, respectively. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Commencing in the year ended December 31, 2013, the Company's president and principal executive officer has loaned the Company money to fund working capital needs to pay operating expenses. The loans are repayable upon demand and accrue interest at the rate of 10 65,950 5,945 In August 2014, the FASB issued ASU No. 2014-15 ("ASU 2014-15"), Presentation of Financial Statements-Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 requires a Company's management to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company is currently evaluating the impact of the adoption of ASU 2014-15 on its consolidated financial statements. In February 2015, amended GAAP guidance ASU 2015-02 was issued affecting current consolidation guidance. The guidance changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. This guidance must be applied using one of two retrospective application methods and will be effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in any interim period. We are currently evaluating the impact, if any, of the adoption of this newly issued guidance to our consolidated financial statements. |
NATURE OF OPERATIONS AND BASIS7
| NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies) | 6 Months Ended |
| Jun. 30, 2015 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Nature of Operations | (A) Nature of Operations Ridgefield Acquisition Corp. (the "Company") was incorporated under the laws of the State of Colorado on October 13, 1983. Effective June 23, 2006, the Company was reincorporated under the laws of the State of Nevada through the merger of the Company with a wholly-owned subsidiary of the Company. Since July 2000, the Company has suspended all operations, except for necessary administrative matters. The Company has no principal operations or revenue producing activities. The Company is now pursuing an acquisition strategy whereby it is seeking to arrange for a merger, acquisition or other business combination with a viable operating entity. Effective March 1, 2015, the Company relocated its principal offices to 31248 Oak Crest Drive, Suite 110, Westlake Village, California 91361. The registrant's new telephone number is (805) 416-7054. The Company occupies a portion of the offices occupied by BKF Capital Group, Inc. on a month to month basis for a monthly fee of $ 50 |
| Basis of Presentation | (B) Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information. The financial information as of June 30, 2015 is derived from the audited consolidated financial statements presented in the Company's Annual Report on Form 10-K for the years ended December 31, 2014 and 2013. The unaudited condensed consolidated interim financial statements should be read in conjunction with the Company's Annual Report on Form 10-K, which contains the audited financial statements and notes thereto, together with the Plan of Operations for the year ended December 31, 2014. Certain information or footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted, pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management's opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The interim results for the three months and six months ended June 30, 2015 are not necessarily indicative of results for the full fiscal year. |
| GOING CONCERN | The accompanying unaudited condensed consolidated interim financial statements have been prepared on the basis of accounting principles applicable to a going concern which contemplates the realization of assets and extinguishment of liabilities in the normal course of business. As shown in the accompanying condensed interim financial statements, the Company has an accumulated deficit of approximately $ 1.59 |
| CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS The Company had cash on hand in the amount of $ 1,446 827 |
| INCOME PER COMMON SHARE | INCOME PER COMMON SHARE Basic income (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted income per common share is calculated by adjusting outstanding shares, assuming conversion of all potentially dilutive equity instruments. There is no difference in the calculation of basic and diluted income per share for the three months and six months ended June 30, 2015 and 2014, respectively. |
| USE OF ESTIMATES | USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
| DUE TO RELATED PARTY | DUE TO RELATED PARTY Commencing in the year ended December 31, 2013, the Company's president and principal executive officer has loaned the Company money to fund working capital needs to pay operating expenses. The loans are repayable upon demand and accrue interest at the rate of 10 65,950 5,945 |
| NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS In August 2014, the FASB issued ASU No. 2014-15 ("ASU 2014-15"), Presentation of Financial Statements-Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 requires a Company's management to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company is currently evaluating the impact of the adoption of ASU 2014-15 on its consolidated financial statements. In February 2015, amended GAAP guidance ASU 2015-02 was issued affecting current consolidation guidance. The guidance changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. This guidance must be applied using one of two retrospective application methods and will be effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in any interim period. We are currently evaluating the impact, if any, of the adoption of this newly issued guidance to our consolidated financial statements. |
NATURE OF OPERATIONS AND BASIS8
| NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details Textual) - USD ($) | 6 Months Ended | |||
| Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
| NATURE OF OPERATIONS AND BASIS OF PRESENTATION [Line Items] | ||||
| Retained Earnings (Accumulated Deficit) | $ (1,591,093) | $ (1,578,567) | ||
| Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||
| Notes Payable, Related Parties, Current | $ 65,950 | |||
| Interest Payable, Current | 5,945 | |||
| cash on hand | 1,446 | $ 827 | $ 2,213 | $ 4,405 |
| BKF Capital Group, Inc. [Member] | ||||
| NATURE OF OPERATIONS AND BASIS OF PRESENTATION [Line Items] | ||||
| Related Party Transaction, Amounts of Transaction | $ 50 |