Imagenetix 10-QT 19 Nov 14 2014 Q2 Quarterly report for transitional period Financial data

Document_And_Entity_Informatio

Document And Entity Information	0 Months Ended
	Sep. 30, 2014	Nov. 19, 2014
Document Information [Line Items]	'	'
Entity Registrant Name	'IMAGENETIX INC /NV/	'
Entity Central Index Key	'0000839441	'
Current Fiscal Year End Date	'--03-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'IAGX	'
Entity Common Stock, Shares Outstanding	'	28,272,955
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Sep. 16, 2014
Current assets:	'	'
Cash	$255,545	$1,493,709
Accounts receivable, net	324,793	160,802
Inventories, net	75,474	48,740
Prepaid expenses and other current assets	23,899	23,899
Total current assets	679,711	1,727,150
Property and equipment, net	25,487	25,487
Goodwill on fresh start from bankruptcy	8,205,597	8,205,597
Other assets	22,969	23,166
Long-term deferred tax assets	0	0
Total Assets	8,933,764	9,981,400
Current liabilities:	'	'
Secured note payable	0	726,250
Accounts payable	137,078	277,638
Accrued liabilities	84,163	244,913
Customer deposits	8,250	8,250
Total current liabilities	229,491	1,257,051
Long term claims payable	2,250,000	2,400,000
Stockholders' equity	'	'
Preferred stock, $.001 par value; 5,000,000 shares authorized: none outstanding	0	0
Common stock, $.001 par value; 50,000,000 shares authorized: 28,272,955 issued and outstanding at September 30, 2014 and September 16, 2014, respectively	28,272	28,272
Capital in excess of par value	6,296,077	6,296,077
Retained earnings	129,924	0
Total stockholders' equity	6,454,273	6,324,349
Total Liabilities and Stockholders' Equity	$8,933,764	$9,981,400

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Sep. 16, 2014
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, share issued	28,272,955	28,272,955
Common stock, shares outstanding	28,272,955	28,272,955

Condensed_Consolidated_Stateme

Condensed Consolidated Statement of Income (USD $)	0 Months Ended
	Sep. 30, 2014
Net sales	'
Product sales	$315
Licenses and royalties	163,991
Total net sales	164,306
Cost of sales	3,031
Gross profit	161,275
Operating expenses:	'
General and administrative	3,656
Payroll expense	21,292
Consulting expense	6,403
Operating expenses	31,351
Operating income	129,924
Other income (expense):	'
Other income	0
Income before income taxes	129,924
Income tax expense	0
Net income	$129,924
Basic net income per share	$0
Fully diluted net income per share	$0
Basic weighted average common shares outstanding (in shares)	28,272,955
Fully diluted weighted average common shares outstanding (in shares)	29,350,386

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	0 Months Ended
	Sep. 30, 2014
Operating activities:	'
Net income	$129,924
Adjustments to reconcile net income to cash provided by (used in) operating activities:	'
Amortization and depreciation	197
Payments on long term bankruptcy claims payable	-150,000
Changes in assets and liabilities:	'
(Increase) decrease in accounts receivable	-163,991
(Increase) decrease in inventories	-26,734
Increase (decrease) in accounts payable	-140,560
Increase (decrease) in accrued liabilities	-160,750
Net cash (used in) operating activities	-511,914
Investing activities	'
Purchases of property and equipment	0
Net cash used in investing activities	0
Financing activities:	'
Payments on secured note payable	-726,250
Net cash (used in) financing activities	-726,250
Net decrease in cash	-1,238,164
Cash, beginning of period	1,493,709
Cash, end of period	255,545
Cash paid during the period for:	'
Interest	30,901
Income taxes	$0

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	0 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	1	BASIS OF PRESENTATION
	The consolidated financial statements of Imagenetix, Inc. ("Imagenetix") presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission for quarterly reports on Form 10-Q and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America.
	In the opinion of management, the interim consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for interim periods. Operating results for the period is not necessarily indicative of the results that may be expected for the year.
	Emergence from Bankruptcy
	Imagenetix filed for protection under the United States Bankruptcy Code on December 12, 2012. During the period of time from December 12, 2012 to September 16, 2014 (the effective date of the Company’s Plan of Reorganization), the Company has filed with the SEC on Form 8K portions of its Monthly Operating Report as filed with the Bankruptcy Court.
	The Company’s Plan of Reorganization was approved by the Court on September 10, 2014 with an effective date of September 16, 2014. The Plan of Reorganization included an issuance of common stock and warrants for cash, the acquisition of Periodyne, the issuance of common stock to pay professional fees incurred during the proceeding and a compromise to the claims of TriPharma and the unsecured creditors.
	As a result of the issuance of common stock, the Company was eligible to adopt “fresh-start reporting” which enables the Company to reduce its previous accumulated deficit to zero as of the effective date of the Plan of Reorganization. The accompanying financial statements reflect this election and, accordingly, the financial statements are for the period of September 16, 2014 through September 30, 2014 and do not reflect comparative statements for any prior accounting periods. A reconciliation of the “fresh-start reporting” is included in Note 2.
	Earnings Per Share
	We follow the Financial Accounting Standards Board Accounting Standards Codification ("ASC") No. 260. Under ASC No. 260, basic earnings per share is calculated as earnings available to common stockholders divided by the weighted average number of common shares outstanding. Diluted earnings per share is calculated as net income divided by the diluted weighted average number of common shares.
	The diluted weighted average number of common shares is calculated using the treasury stock method for common stock issuable pursuant to outstanding common stock warrants.

FRESHSTART_REPORTING

FRESH-START REPORTING	0 Months Ended
	Sep. 30, 2014
Fresh Start Reporting [Abstract]	'
Reorganization under Chapter 11 of US Bankruptcy Code Disclosure [Text Block]	'
		2	FRESH-START REPORTING
	We adopted ASC 852, Reorganizations, effective as of September 16, 2014, the effective date of the Plan of Reorganization. Under ASC 852 the following pro-forma balance sheet represents the change from the final bankruptcy filing to the initial accounting balances using “Fresh-Start Reporting.”
						Reorganization			Fresh-start
			Predecessor			adjustments			adjustments				Successor
	Cash		$	235,622		$	1,258,087	1,3	$	-		$	1,493,709
	Accounts receivable			206,494			-			-45,692	5		160,802
	Inventory			31,780			34,460	3		-17,500	5		48,740
	Prepaid assets			23,899			-			-			23,899
	Property, plant & equipment						-			25,487	5		25,487
	Goodwill						1,163,383	3		7,042,214	5		8,205,597
	Intangible assets			23,166			-			-			23,166
	Total assets			520,961			2,455,930			7,004,509			9,981,400
	Accounts payable- post-petition			532,338			-489,000	1,2		-			43,338
	Accrued interest			30,902			-						30,902
	Accrued liabilities			23,619			190,393	4		-			214,012
	Secured liabilities- PRI			726,250			-			-			726,250
	Secured liabilities- TriPharma			2,594,884			-194,884	4		-			2,400,000
	Priority tax liability			1,895			-190	4		-			1,705
	Customer deposits			128,100			-57,870	3		-61,980	6		8,250
	Unsecured debt- pre-petition			949,628			-717,034	4		-			232,594
	Total liabilities			4,987,616			-1,268,585			-61,980			3,657,051
	Common stock			13,061			15,211	1,2,3		-			28,272
	Additional paid in capital			13,690,254			6,296,077	1,2,3		-13,690,254	7		6,296,077
	Retained earnings (deficit)			-18,169,970			-2,586,773	1,2,3,4		20,756,743	7		-
	Total stockholders' equity (deficit)			-4,466,655			3,724,515			7,066,489			6,324,349
	Total liabilities and stockholders equity		$	520,961		$	2,455,930		$	7,004,509		$	9,981,400
	Reorganization adjustments reflect equity funding of the plan of reorganization, issuance of common stock in exchange of professional fees, the acquisition of Periodyne and the discharge of liabilities subject to compromise in accordance with the plan of reorganization as follows:
	Issuance of common stock to fund plan of reorganization		1		$	1,254,800
	Issuance of common stock for professional fees		2			790,000
	Acquisition of Periodyne		3			1,258,000
	Liabilities subject to compromise		4			421,715
					$	3,724,515
	Fresh-start adjustments to accounts receivable, inventory, property and equipment, and goodwill reflects the adjustment of the assets of the successor to their fair values, including tangible assets not previously recognized:
	Accounts receivable				$	-45,692
	Inventory					-17,500
	Property and equipment					25,487
	Goodwill					7,042,214
	Total asset adjustments		5		$	7,004,509
	Fresh-start adjustments to customer deposits reflects the adjustment of the liabilities of the successor to its fair value:
	Customer deposits		6		$	-61,980
	(7) Fresh-start adjustment to retained earnings (deficit) resets accumulated deficit to zero.

ACCOUNTS_RECEIVABLE

ACCOUNTS RECEIVABLE	0 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	'
	3	ACCOUNTS RECEIVABLE
	Accounts receivable are carried at the expected realizable value. Accounts receivable consisted of the following:
			September 30,		September 16,
			2014		2014
	Accounts receivable		$	324,793	$	160,802
	Allowance for doubtful accounts			-		-
	Accounts receivable, net		$	324,793	$	160,802
	At September 30, 2014, we had three customers which accounted for 51%, 38% and 11%, respectfully, of our accounts receivable balances. At September 16, 2014, we had two customers which accounted for 77% and 23%, respectfully, of our accounts receivable balances.
	For the period ended September 30, 2014, we had one significant customer who accounted for 100% of sales.

INVENTORIES

INVENTORIES	0 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	4	INVENTORIES
	Inventories are carried at the lower of cost or market. Cost is determined by the first-in first-out method. Indirect overhead costs are allocated to inventory. Inventories consist of the following:
			September 30,		September 16,
			2014		2014
	Finished products		$	75,474	$	48,740
	Less reserve for obsolescence			-		-
			$	75,474	$	48,740

GOODWILL

GOODWILL	0 Months Ended
	Sep. 30, 2014
GOODWILL [Abstract]	'
Goodwill Disclosure [Text Block]	'
	5	GOODWILL
	As a result of adopting “Fresh-Start Reporting” goodwill of $7,042,214 was recognized when accumulated retained deficit was reduced to zero and goodwill of $1,163,383 was recognized on the acquisition of Periodyne.

SECURED_NOTE_PAYABLE

SECURED NOTE PAYABLE	0 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	6	SECURED NOTE PAYABLE
	In May 2011, we entered into a $700,000 secured note payable with one of the customers of one of our distributors. The terms of the note included quarterly interest payments at a rate of 7.5% for 18 months at the end of which time the entire note was due. In September 2011, two quarterly interest payments were deferred and added to the principal of the note increasing the balance to $726,250. As part of the Plan of Reorganization, the secured note, accrued interest and costs of collection were paid in full in September 2014 subsequent to the effective date of the Plan of Reorganization.

TRIPHARMA_SETTLEMENT

TRIPHARMA SETTLEMENT	0 Months Ended
	Sep. 30, 2014
Bankruptcy Claims [Abstract]	'
Tripharma Settlement [Text Block]	'
		7	TRIPHARMA SETTLEMENT
	In August 2013, as part of the bankruptcy proceeding, we negotiated a settlement agreement with TriPharma. TriPharma was successful in obtaining a judgment against us in an amount of approximately $4 million. The settlement provides for total payments of $2,500,000 if payments are made timely, $3,500,000 if payments are ever in default, and $2,000,000 if the balance of principal is paid within 18 months of the effective date of the Plan of Reorganization. As of September 16, 2014 a balance of $2,400,000 remained owing assuming that no default payments would become necessary. This balance is due $150,000 within 5 days of the effective date of the Plan of Reorganization, $100,000 per quarter for eight quarters, $125,000 for four quarters, and $150,000 per quarter thereafter until the settlement is paid. During the period ended September 30, 2014, we made a payment of $150,000 leaving a balance of $2,250,000 as of September 30, 2014.

COMMITMENTS_AND_CONTINGINCIES

COMMITMENTS AND CONTINGINCIES	0 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
		8	COMMITMENTS AND CONTINGENCIES
	Contingencies
	We are involved in litigation from time to time in the normal course of business.
	Management believes there are no claims, which would have a material effect on our financial position.

EQUITY_TRANSACTIONS

EQUITY TRANSACTIONS	0 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
		9	EQUITY TRANSACTIONS
	As part of the Plan of Reorganization we issued warrants to investors, the principal of Periodyne and employees.
	A summary of outstanding warrants is as follows:
			For the Period Ended
			September 30, 2014
				Weighted
				Average
				Exercise
	Warrants		Shares	Price
	Outstanding at beginning of period, September 16, 2014		8,409,334	$	0.62
	Granted		-		-
	Cancelled		-		-
	Exercised		-		-
	Outstanding at end of the period		8,409,334	$	0.62
	Exercisable at end of the the period		8,409,334	$	0.62
	Weighted average fair value of warrants granted during the period		-	$	-

INCOME_TAXES

INCOME TAXES	0 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
		10	INCOME TAXES
	We have adopted ASC 740 which prescribes a comprehensive model of how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the company has taken or expects to take on a tax return.  ASC 740 states that a tax benefit from an uncertain position may be recognized if it is "more likely than not" that the position is sustainable, based upon its technical merits. The tax benefit of a qualifying position is the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority having full knowledge of all relevant information.
	Upon adoption of ASC 740, there was no impact to our consolidated financial statements.  We estimate that the unrecognized tax benefit will not change significantly within the next twelve months.  We will continue to classify income tax penalties and interest as part of general and administrative expense in our statements of operations.  Accrued interest on uncertain tax positions is not significant.  There are no penalties accrued as of September 30, 2014.   The following table summarizes the open tax years for each major jurisdiction:
	Jurisdiction		Open Tax
			Years
	Federal		2011 – 2013
	California		2011 – 2013
	As we have had significant net operating loss carry forwards from the predecessor company, even if certain of our tax positions were disallowed, it is not foreseen that we would have to pay any taxes in the near future. Consequently, we do not calculate the impact of interest or penalties on amounts that might be disallowed.
	During the period ended September 30, 2014, we reviewed our deferred tax assets and determined that, as a result of previous continuing losses, we could not expect a greater than 50 percent likelihood of the tax benefits being realized. Accordingly, we will continue to recognize a full valuation allowance against our current and long-term deferred tax assets.

BASIS_OF_PRESENTATION_Policies

BASIS OF PRESENTATION (Policies)	0 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Emergence From Bankruptcy [Policy Text Block]	'
	Emergence from Bankruptcy
	Imagenetix filed for protection under the United States Bankruptcy Code on December 12, 2012. During the period of time from December 12, 2012 to September 16, 2014 (the effective date of the Company’s Plan of Reorganization), the Company has filed with the SEC on Form 8K portions of its Monthly Operating Report as filed with the Bankruptcy Court.
	The Company’s Plan of Reorganization was approved by the Court on September 10, 2014 with an effective date of September 16, 2014. The Plan of Reorganization included an issuance of common stock and warrants for cash, the acquisition of Periodyne, the issuance of common stock to pay professional fees incurred during the proceeding and a compromise to the claims of TriPharma and the unsecured creditors.
	As a result of the issuance of common stock, the Company was eligible to adopt “fresh-start reporting” which enables the Company to reduce its previous accumulated deficit to zero as of the effective date of the Plan of Reorganization. The accompanying financial statements reflect this election and, accordingly, the financial statements are for the period of September 16, 2014 through September 30, 2014 and do not reflect comparative statements for any prior accounting periods. A reconciliation of the “fresh-start reporting” is included in Note 2.
Earnings Per Share, Policy [Policy Text Block]	'
	Earnings Per Share
	We follow the Financial Accounting Standards Board Accounting Standards Codification ("ASC") No. 260. Under ASC No. 260, basic earnings per share is calculated as earnings available to common stockholders divided by the weighted average number of common shares outstanding. Diluted earnings per share is calculated as net income divided by the diluted weighted average number of common shares.
	The diluted weighted average number of common shares is calculated using the treasury stock method for common stock issuable pursuant to outstanding common stock warrants.

FRESHSTART_REPORTING_Tables

FRESH-START REPORTING (Tables)	0 Months Ended
	Sep. 16, 2014
Fresh Start Reporting [Abstract]	'
Schedule of Fresh-Start Adjustments [Table Text Block]	'
	We adopted ASC 852, Reorganizations, effective as of September 16, 2014, the effective date of the Plan of Reorganization. Under ASC 852 the following pro-forma balance sheet represents the change from the final bankruptcy filing to the initial accounting balances using “Fresh-Start Reporting.”
						Reorganization				Fresh-start
		Predecessor				adjustments				adjiustments				Successor
	Cash	$	235,622				1,258,087		1,3	$	-			$1,493,709
	Accounts receivable		206,494				-				(45,692	)	5	160,802
	Inventory		31,780				34,460		3		(17,500	)	5	48,740
	Prepaid assets		23,899				-				-			23,899
	Property, plant & equipment						-				25,487		5	25,487
	Goodwill						1,163,383		3		7,042,214		5	8,205,597
	Intangible assets		23,166				-				-			23,166
	Total assets		520,961				2,455,930				7,004,509			9,981,400
	Accounts payable- post-petition		532,338				(489,000	)	1,2		-			43,338
	Accrued interest		30,902				-							30,902
	Accrued liabilities		23,619				190,393		4		-			214,012
	Secured liabilities- PRI		726,250				-				-			726,250
	Secured liabilities- TriPharma		2,594,884				(194,884	)	4		-			2,400,000
	Priority tax liability		1,895				(190	)	4		-			1,705
	Customer deposits		128,100				(57,870	)	3		(61,980	)	6	8,250
	Unsecured debt- pre-petition		949,628				(717,034	)	4		-			232,594
	Total liabilities		4,987,616				(1,268,585	)			(61,980	)		3,657,051
	Common stock		13,061				15,211		1,2,3		-			28,272
	Additional paid in capital		13,690,254				6,296,077		1,2,3		(13,690,254	)	7	6,296,077
	Retained earnings (deficit)		(18,169,970	)			(2,586,773	)	1,2,3,4		20,756,743		7	-
	Total stockholders' equity (deficit)		(4,466,655	)			3,724,515				7,066,489			6,324,349
	Total liabilities and stockholders equity	$	520,961			$	2,455,930			$	7,004,509			$9,981,400
Reorganization adjustments reflecting equity [Table Text Block]	'
	Reorganization adjustments reflect equity funding of the plan of reorganization, issuance of common stock in exchange
	of professional fees, the acquisition of Periodyne and the discharge of liabilities subject to compromise in accordance with the plan
	of reorganization as follows:
	Issuance of common stock to fund plan of reorganization				1	$	1,254,800
	Issuance of common stock for professional fees				2		790,000
	Acquisition of Periodyne				3		1,258,000
	Liabilities subject to compromise				4		421,715
						$	3,724,515
Fresh start adjustments relating to Assets [Table Text Block]	'
	Fresh-start adjustments to accounts receivable, inventory, property and equipment, and goodwill reflects the adjustment of the assets of the
	successor to their fair values, including tangible assets not previously recognized:
	Accounts receivable					$	(45,692	)
	Inventory						(17,500	)
	Property and equipment						25,487
	Goodwill						7,042,214
	Total asset adjustments				5	$	7,004,509
Fresh start adjustments relating to Liabilities [Table Text Block]	'
	Fresh-start adjustments to customer deposits reflects the adjustment of the liabilities of the successor to its fair value:
	Customer deposits				6	$	(61,980	)

ACCOUNTS_RECEIVABLE_Tables

ACCOUNTS RECEIVABLE (Tables)	0 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
	Accounts receivable are carried at the expected realizable value. Accounts receivable consisted of the following:
		September 30,		September 16,
		2014		2014
	Accounts receivable	$	324,793	$	160,802
	Allowance for doubtful accounts		-		-
	Accounts receivable, net	$	324,793	$	160,802

INVENTORIES_Tables

INVENTORIES (Tables)	0 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	Inventories consist of the following:
		September 30,		September 16,
		2014		2014
	Finished products	$	75,474	$	48,740
	Less reserve for obsolescence		-		-
		$	75,474	$	48,740

EQUITY_TRANSACTIONS_Tables

EQUITY TRANSACTIONS (Tables)	0 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	'
	A summary of outstanding warrants is as follows:
		For the Period Ended
		September 30, 2014
			Weighted
			Average
			Exercise
	Warrants	Shares	Price
	Outstanding at beginning of period, September 16, 2014	8,409,334	$	0.62
	Granted	-		-
	Cancelled	-		-
	Exercised	-		-
	Outstanding at end of the period	8,409,334	$	0.62
	Exercisable at end of the the period	8,409,334	$	0.62
	Weighted average fair value of warrants granted during the period	-	$	-

INCOME_TAXES_Tables

INCOME TAXES (Tables)	0 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Summary of Income Tax Examinations [Table Text Block]	'
	The following table summarizes the open tax years for each major jurisdiction:
	Jurisdiction	Open Tax
		Years
	Federal	2011 – 2013
	California	2011 – 2013

FRESHSTART_REPORTING_Details

FRESH-START REPORTING (Details) (USD $)	Sep. 30, 2014	Sep. 16, 2014
Current assets:	'	'
Cash	'	$1,493,709
Accounts receivable	324,793	160,802
Inventory	75,474	48,740
Prepaid assets	23,899	23,899
Property, plant & equipment	25,487	25,487
Goodwill	7,042,214	8,205,597
Intangible assets	'	23,166
Total assets	8,933,764	9,981,400
Liabilities	'	'
Accounts payable- post-petition	'	43,338
Accrued interest	'	30,902
Accrued liabilities	'	214,012
Secured liabilities- PRI	'	726,250
Secured liabilities- TriPharma	'	2,400,000
Priority tax liability	'	1,705
Customer deposits	8,250	8,250
Unsecured debt- pre-petition	'	232,594
Total liabilities	'	3,657,051
Liabilities and Equity	'	'
Common stock	28,272	28,272
Additional paid in capital	6,296,077	6,296,077
Retained earnings (deficit)	129,924	0
Total stockholders' equity (deficit)	6,454,273	6,324,349
Total liabilities and stockholders equity	8,933,764	9,981,400
Predecessor [Member]	'	'
Current assets:	'	'
Cash	'	235,622
Accounts receivable	'	206,494
Inventory	'	31,780
Prepaid assets	'	23,899
Intangible assets	'	23,166
Total assets	'	520,961
Liabilities	'	'
Accounts payable- post-petition	'	532,338
Accrued interest	'	30,902
Accrued liabilities	'	23,619
Secured liabilities- PRI	'	726,250
Secured liabilities- TriPharma	'	2,594,884
Priority tax liability	'	1,895
Customer deposits	'	128,100
Unsecured debt- pre-petition	'	949,628
Total liabilities	'	4,987,616
Liabilities and Equity	'	'
Common stock	'	13,061
Additional paid in capital	'	13,690,254
Retained earnings (deficit)	'	-18,169,970
Total stockholders' equity (deficit)	'	-4,466,655
Total liabilities and stockholders equity	'	520,961
Reorganization Adjustments [Member]	'	'
Current assets:	'	'
Cash	'	1,258,087
Accounts receivable	'	0
Inventory	'	34,460
Prepaid assets	'	0
Property, plant & equipment	'	0
Goodwill	'	1,163,383
Intangible assets	'	0
Total assets	'	2,455,930
Liabilities	'	'
Accounts payable- post-petition	'	-489,000
Accrued interest	'	0
Accrued liabilities	'	190,393
Secured liabilities- PRI	'	0
Secured liabilities- TriPharma	'	-194,884
Priority tax liability	'	-190
Customer deposits	'	-57,870
Unsecured debt- pre-petition	'	-717,034
Total liabilities	'	-1,268,585
Liabilities and Equity	'	'
Common stock	'	15,211
Additional paid in capital	'	6,296,077
Retained earnings (deficit)	'	-2,586,773
Total stockholders' equity (deficit)	3,724,515	'
Total liabilities and stockholders equity	'	2,455,930
Fresh Start Adjustments [Member]	'	'
Current assets:	'	'
Total assets	'	7,004,509
Liabilities	'	'
Total liabilities	'	-61,980
Liabilities and Equity	'	'
Total stockholders' equity (deficit)	7,066,489	3,724,515
Total liabilities and stockholders equity	'	7,004,509
Fresh Start Adjustments [Member] | Revaluation of Liabilities [Member]	'	'
Liabilities	'	'
Accounts payable- post-petition	'	0
Accrued liabilities	'	0
Secured liabilities- PRI	'	0
Secured liabilities- TriPharma	'	0
Priority tax liability	'	0
Customer deposits	'	-61,980
Unsecured debt- pre-petition	'	0
Fresh Start Adjustments [Member] | Exchange of Stock for Stock [Member]	'	'
Liabilities and Equity	'	'
Common stock	'	0
Additional paid in capital	'	-13,690,254	[1]
Retained earnings (deficit)	'	20,756,743	[1]
Fresh Start Adjustments [Member] | Revaluation of Assets [Member]	'	'
Current assets:	'	'
Cash	'	0
Accounts receivable	'	-45,692
Inventory	'	-17,500
Prepaid assets	'	0
Property, plant & equipment	'	25,487
Goodwill	'	7,042,214
Intangible assets	'	$0
[1]	Fresh-start adjustment to retained earnings (deficit) resets accumulated deficit to zero.

FRESHSTART_REPORTING_Details_1

FRESH-START REPORTING (Details 1) (USD $)	Sep. 30, 2014	Sep. 16, 2014
Stockholders' Equity Attributable to Parent	$6,454,273	$6,324,349
Fresh Start Adjustments [Member]	'	'
Stockholders' Equity Attributable to Parent	7,066,489	3,724,515
Fresh Start Adjustments [Member] | Issuance Of Common Stock To Fund Plan Of Reorganization [Member]	'	'
Stockholders' Equity Attributable to Parent	'	1,254,800
Fresh Start Adjustments [Member] | Issuance Of Common Stock For Professional Fees [Member]	'	'
Stockholders' Equity Attributable to Parent	'	790,000
Fresh Start Adjustments [Member] | Acquisition Of Periodyne [Member]	'	'
Stockholders' Equity Attributable to Parent	'	1,258,000
Fresh Start Adjustments [Member] | Liabilities Subject To Compromise [Member]	'	'
Stockholders' Equity Attributable to Parent	'	$421,715

FRESHSTART_REPORTING_Details_2

FRESH-START REPORTING (Details 2) (Fresh Start Adjustments [Member], Revaluation of Assets [Member], USD $)	Sep. 16, 2014
Fresh Start Adjustments [Member] | Revaluation of Assets [Member]	'
Fresh Start Adjustments	'
Accounts receivable	($45,692)
Inventory	-17,500
Property and equipment	25,487
Goodwill	7,042,214
Total asset adjustments	$7,004,509

FRESHSTART_REPORTING_Details_3

FRESH-START REPORTING (Details 3) (Fresh Start Adjustments [Member], Revaluation of Liabilities [Member], USD $)	Sep. 16, 2014
Fresh Start Adjustments [Member] | Revaluation of Liabilities [Member]	'
Fair Value	'
Customer deposits	($61,980)

FRESHSTART_REPORTING_Details_T

FRESH-START REPORTING (Details Textual)	0 Months Ended
	Sep. 30, 2014
Plan of Reorganization, Date Plan is Effective	16-Sep-14

ACCOUNTS_RECEIVABLE_Details

ACCOUNTS RECEIVABLE (Details) (USD $)	Sep. 30, 2014	Sep. 16, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Accounts receivable	$324,793	$160,802
Allowance for doubtful accounts	0	0
Accounts receivable, net	$324,793	$160,802

ACCOUNTS_RECEIVABLE_Details_Te

ACCOUNTS RECEIVABLE (Details Textual)	0 Months Ended	1 Months Ended
	Sep. 30, 2014	Sep. 16, 2014
Customer One [Member] | Accounts Receivable [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Concentration Risk, Percentage	51.00%	77.00%
Customer Two [Member] | Accounts Receivable [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Concentration Risk, Percentage	38.00%	23.00%
Customer Three [Member] | Accounts Receivable [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Concentration Risk, Percentage	11.00%	'
One Significant Customer [Member] | Sales Revenue, Net [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Concentration Risk, Percentage	100.00%	'

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Sep. 30, 2014	Sep. 16, 2014
Inventory [Line Items]	'	'
Finished products	$75,474	$48,740
Less reserve for obsolescence	0	0
Inventory, Net	$75,474	$48,740

GOODWILL_Details_Textual

GOODWILL (Details Textual) (USD $)	Sep. 30, 2014	Sep. 16, 2014
Goodwill	$7,042,214	$8,205,597
Retained Earnings (Accumulated Deficit)	129,924	0
Periodyne [Member]	'	'
Goodwill	'	$1,163,383

SECURED_NOTE_PAYABLE_Details_T

SECURED NOTE PAYABLE (Details Textual) (USD $)	1 Months Ended
	31-May-11	Sep. 30, 2011
Debt Instrument [Line Items]	'	'
Notes Payable	$700,000	$726,250
Debt Instrument, Interest Rate, Stated Percentage	7.50%	'
Debt Instrument, Term	'18 months	'
Debt Instrument, Interest Rate Terms	'quarterly interest payments	'

TRIPHARMA_SETTLEMENT_Details_T

TRIPHARMA SETTLEMENT (Details Textual) (USD $)	0 Months Ended	1 Months Ended
	Sep. 16, 2014	Aug. 31, 2013
Tripharama Settlement [Line Items]	'	'
Bankruptcy Claims, Amount of Claims Settled	'	$4,000,000
Liabilities Subject to Compromise, Provision for Expected and Allowed Claims	'	2,500,000
Liabilities Subject to Compromise, Capital Lease Obligations and Accrued Interest	'	3,500,000
Liabilities Subject To Compromise Debt	'	2,000,000
Debt Instrument, Payment Terms	'	'18
Liabilities Subject to Compromise, Debt and Accrued Interest	2,400,000	'
Debt Instrument, Periodic Payment	150,000	'
Long-term Debt	2,250,000	'
With in Five Days [Member]	'	'
Tripharama Settlement [Line Items]	'	'
Debt Instrument, Periodic Payment	150,000	'
First Quarters To Eight Quarters [Member]	'	'
Tripharama Settlement [Line Items]	'	'
Debt Instrument, Periodic Payment	100,000	'
Nine Quarters To Thirteen Quarters [Member]	'	'
Tripharama Settlement [Line Items]	'	'
Debt Instrument, Periodic Payment	125,000	'
Fourteen Quarters ThereAfter [Member]	'	'
Tripharama Settlement [Line Items]	'	'
Debt Instrument, Periodic Payment	$150,000	'

EQUITY_TRANSACTIONS_Details

EQUITY TRANSACTIONS (Details) (Warrant [Member], USD $)	0 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Warrant [Member]	'	'
Outstanding at beginning of period, Shares	'	8,409,334
Granted, Shares	0	'
Cancelled, Shares	0	'
Exercised, Shares	0	'
Outstanding at end of the period, Shares	8,409,334	8,409,334
Exercisable at end of the the period, Shares	8,409,334	'
Outstanding at beginning of period, Weighted Average Exercise Price	'	$0.62
Granted, Weighted Average Exercise Price	$0	'
Cancelled, Weighted Average Exercise Price	$0	'
Exercised, Weighted Average Exercise Price	$0	'
Outstanding at end of the period, Weighted Average Exercise Price	$0.62	$0.62
Exercisable at end of the the period, Weighted Average Exercise Price	$0.62	'
Weighted average fair value of warrants granted during the period, Weighted Average Exercise Price	$0	'

INCOME_TAXES_Details

INCOME TAXES (Details)	0 Months Ended
	Sep. 30, 2014
Federal [Member] | Minimum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2011
Federal [Member] | Maximum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2013
California Franchise Tax Board [Member] | Minimum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2011
California Franchise Tax Board [Member] | Maximum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2013