Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 15, 2013 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'TGFIN HOLDINGS INC | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000876134 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 2,332,105 |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
TGFIN_HOLDINGS_INC_AND_SUBSIDI
TGFIN HOLDINGS, INC. AND SUBSIDIARY(A Development Stage Company) CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current Assets: | ' | ' |
Cash | $17,294 | $370 |
Prepaid expenses | 1,500 | 0 |
Total Current Assets | 18,794 | 370 |
Total Assets | 18,794 | 370 |
Current Liabilities: | ' | ' |
Accounts payable | 8,889 | 13,558 |
Accrued expenses | 13,653 | 8,863 |
Stock compensation payable | 40,000 | 36,000 |
Convertible notes payable | 79,000 | 74,000 |
Common stock subscription payable | 50,000 | 0 |
Common stock payable | 0 | 255,771 |
Total Current Liabilities | 191,542 | 388,192 |
Stockholders' Deficit: | ' | ' |
Preferred stock ($0.01 par value) 1,000,000 shares authorized, 50,400 shares issued and outstanding | 504 | 504 |
Common stock ($0.01 par value) 50,000,000 shares authorized, 2,332,105 and 2,332,105 issued and outstanding | 23,321 | 23,321 |
Additional paid-in-capital | 4,171,671 | 4,140,671 |
Retained deficit prior to development stage | -1,077,063 | -1,077,063 |
Retained deficit during development stage | -3,291,181 | -3,475,255 |
Total Stockholders' Deficit | -172,748 | -387,822 |
Total Liabilities and Stockholders' Deficit | $18,794 | $370 |
TGFIN_HOLDINGS_INC_Balance_She
TGFIN HOLDINGS, INC. Balance Sheet (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement of Financial Position | ' | ' |
Preferred stock authorized | 1,000,000 | 1,000,000 |
Preferred stock par value | $0.01 | $0.01 |
Preferred stock outstanding | 50,400 | 50,400 |
Preferred stock issued | 50,400 | 50,400 |
Common stock authorized | 50,000,000 | 50,000,000 |
Common stock par value | $0.01 | $0.01 |
Common stock outstanding | 2,332,105 | 2,332,105 |
Common stock issued | 2,332,105 | 2,332,105 |
TGFIN_HOLDINGS_INC_AND_SUBSIDI1
TGFIN HOLDINGS, INC. AND SUBSIDIARY (A Development Stage Company) CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | 126 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Income Statement | ' | ' | ' | ' | ' |
Revenues | $0 | $0 | $0 | $0 | $356 |
Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 |
Gross Profit | 0 | 0 | 0 | 0 | 356 |
Expenses | ' | ' | ' | ' | ' |
Research and development | 0 | 0 | -255,771 | 0 | 0 |
Payroll and related | 8,000 | 8,250 | 33,500 | 29,750 | 2,013,019 |
Selling, General and Administrative | 7,636 | 2,695 | 17,743 | 5,270 | 915,038 |
Legal and Professional | 4,443 | 3,971 | 20,483 | 16,572 | 488,576 |
Amortization | 0 | 1,000 | 0 | 3,000 | 12,000 |
Total operating Expense | 20,079 | 15,916 | -184,045 | 54,592 | 3,428,633 |
Operating Income (Loss) | -20,079 | -15,916 | 184,045 | -54,592 | -3,428,277 |
Interest Income | 10 | 0 | 29 | 0 | 137,096 |
Total other income | 10 | 0 | 29 | 0 | 137,096 |
Net Income (Loss) | ($20,069) | ($15,916) | $184,074 | ($54,592) | ($3,291,181) |
Basic and Diluted Income (loss) per share | ($0.01) | ($0.01) | $0.08 | ($0.03) | ' |
Weighted Average Number of shares outstanding | 2,332,105 | 2,332,105 | 2,332,105 | 2,332,105 | ' |
TGFIN_HOLDINGS_INC_AND_SUBSIDI2
TGFIN HOLDINGS, INC. AND SUBSIDIARY (A Development Stage Company) CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | 126 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Cash Flows from Operating Activities: | ' | ' | ' |
Net Loss | $184,074 | ($54,592) | ($3,291,181) |
Amortization of deferred compensation | 0 | 0 | 13,751 |
Amortization of software | 0 | 3,000 | 12,000 |
Compensation costs of common stock issued or payable to employees and consultants | 4,000 | 5,000 | 175,355 |
Cost of donated services | 31,000 | 26,000 | 169,000 |
Cost of common stock issued to shareholders | 0 | 0 | 16,500 |
Stock payable common stock | -255,771 | 0 | 0 |
Decrease (increase) in accounts receivable | 0 | 0 | 31,250 |
Decrease (increase) in prepaid expenses | -1,500 | -1,250 | 13,252 |
(Decrease) increase in accounts payable and accrued expenses | 121 | 7,363 | -204,951 |
Net cash used in operating activities | -38,076 | -14,479 | -3,065,024 |
Net cash provided by investing activities | 0 | 0 | 0 |
Cash Flows from Financing activities: | ' | ' | ' |
Proceeds from convertible notes payable | 5,000 | 14,000 | 79,000 |
Payments for common stock subscription payable | 50,000 | 0 | 50,000 |
Net cash provided by financing activities | 55,000 | 14,000 | 129,000 |
Net Increase (Decrease) in cash and cash equivalents | 16,924 | -479 | -2,936,024 |
Cash and Cash Equivalents, beginning of period | 370 | 952 | 2,953,318 |
Cash and Cash Equivalents, end of period | 17,294 | 473 | 17,294 |
Cash paid during the period for: | ' | ' | ' |
Income taxes | 0 | 0 | 12,609 |
Interest | 0 | 0 | 0 |
Supplemental Disclosures of Non-Cash Investing and Financing Activities: | ' | ' | ' |
Common stock issued for accrued liabilities | 0 | 0 | 51,230 |
Common stock issued to prior shareholders | 0 | 0 | 16,500 |
Conversion of preferred stock | 0 | 0 | 2 |
Common Stock options issued for software purchase | 0 | 0 | 5,114 |
Software acquired with common stock options | $0 | $0 | $12,000 |
The_Company_and_Condensed_Cons
The Company and Condensed Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2013 | |
Notes | ' |
The Company and Condensed Consolidated Financial Statements | ' |
NOTE 1: THE COMPANY AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | |
The Company | |
The Company consists of TGFIN Holdings, Inc. ("TGFIN") and its sole and wholly-owned operating subsidiary, TradinGear.Com Incorporated ("TradinGear", or referred to collectively with TGFIN as the "Company"). TGFIN was incorporated under the laws of Delaware in March 1985 (originally as Mark, Inc.). TradinGear was incorporated under the laws of the State of Delaware on July 7, 1999. TGFIN Holdings, Inc. was formerly considered a non-business combination-related shell company as defined in Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2). The Company completed a transaction on February 19, 2010 that had the effect of causing it to cease to be a shell company, as defined in Rule 12b-2, by reactivating its previously inactive operating subsidiary, Tradingear and resuming its previous business of developing software under a new d/b/a: iDEV3. On April 15, 2013 the company filed a Definitive 14C for the purpose of changing the Company’s name and effectuating a ten (10) to one (1) reverse split of the Company’s common stock. As of the time of this filing, these corporate actions are still in progress. | |
TradinGear currently produces software applications (“Apps”) for telephones and other hand-held devices. | |
Financial Statements | |
The accompanying financial statements have been prepared by the Company without audit. They include information of TGFIN and TradinGear. In the opinion of management, all material adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at September 30, 2013, the results of operations for the three and nine month periods ended September 30, 2013 and 2012, and the cash flows for the three and nine month periods ended September 30, 2013 and 2012, have been made. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2012 audited financial statements. The results of operations for the three and nine month periods ended September 30, 2013 and 2012 are not necessarily indicative of the operating results for the respective full years. | |
Revenue recognition | |
The company sold its current software at the Online Apple Store, which records all sales made on a daily basis. The company recognized its portion of the sales as revenue as of the date of the sale. | |
NOTE 3: GOING CONCERN QUALIFICATION | |
The Company has been a Development Stage Company since April 1, 2003. It has continuously sought an acceptable merger or acquisition candidate during that period and has incurred losses each year, except for the entry described above in NOTE 2: TERMINATION OF AGREEMENT. At September 30, 2013 the company had a Retained Deficit of $4,368,244. The company’s cash reserves of $17,294 as of September 30, 2013 are not adequate to fund all of the anticipated expenses for the year ending December 31, 2013. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. | |
The company plans to merge with, acquire existing Apps or companies, and continue to operate during the year ending December 31, 2013. Should the acquired or merged operating entity not have sufficient resources of its own to fund the combined entity’s operations, the Company will issue stock to raise sufficient operating capital if sufficient capital is not raised from operations. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Notes | ' |
Commitments and Contingencies | ' |
NOTE 4: COMMITMENTS AND CONTINGENCIES | |
Litigation | |
In the normal course of business, there may be various legal actions and proceedings pending which seek damages against the Company. As of September 30, 2013 there were no claims asserted or threatened against the Company |
Convertible_Notes_Payable
Convertible Notes Payable | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
Notes | ' | |||||
Convertible Notes Payable | ' | |||||
NOTE 5: CONVERTIBLE NOTES PAYABLE | ||||||
30-Sep-13 | 31-Dec-12 | |||||
Convertible notes payable | $ | 79,000 | $ | 74,000 | ||
Total Notes payable | $ | 79,000 | $ | 74,000 | ||
The Convertible 8% Notes Payable were originated on various dates in 2010, 2011 and 2012. Additional notes payable were received on January 3, 2013 for $5,000 to reflect working capital funding provided by Sam Gaer, the Company’s then single largest shareholder. The Notes originated in 2010 are convertible into common stock of TGFIN at $0.30 per share at any time at the holder’s option. The Notes originated in 2011 are convertible into common stock of TGFIN at $0.15 per share at any time at the holder’s option. The Notes originated in 2012 and 2013 are convertible into common stock of TGFIN at $0.10 per share at any time at the holder’s option. Accrued interest related to these notes as of September 30, 2013 was $13,653 . Effective December 19, 2012 all rights to the Notes were assigned to Marni Gaer, the spouse of Sam Gaer. |
Stock_Options_and_Warrants
Stock Options and Warrants | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Notes | ' | |||||||||
Stock Options and Warrants | ' | |||||||||
NOTE 6: STOCK OPTIONS AND WARRANTS | ||||||||||
A summary of the status of the Company's outstanding stock options and warrants (all of which were exercisable) as of September 30, 2013 and December 31, 2012 and changes during the periods then ended, is presented below: | ||||||||||
Warrants | 2013 Weighted Average Exercise Price | Warrants | 2012 Weighted Average Exercise Price | |||||||
Outstanding, beginning balance | 60,000 | $ | 0.3 | 60,000 | $ | 0.3 | ||||
Granted | 0 | 0 | 0 | 0 | ||||||
Expired/Cancelled | 0 | 0 | 0 | 0 | ||||||
Exercised | 0 | 0 | 0 | 0 | ||||||
Outstanding ending balance | 60,000 | $ | 0.3 | 60,000 | $ | 0.3 | ||||
Exercisable | 60,000 | $ | 0.3 | 60,000 | $ | 0.3 | ||||
NOTE 7: CAPITAL STOCK | ||||||||||
Common stock | ||||||||||
The authorized capital stock of the Company consists of 50,000,000 shares of common stock, par value $0.01 per share, of which 2,332,105 were outstanding at September 30, 2013. | ||||||||||
On January 1 and April 1, 2013 the Company awarded 10,000 shares of common stock to each of the two Directors and the Chairman, respectively, in accordance with a Board Resolution. The shares were valued at the market price at the date of issuance of $0.10 and $0.20, respectively, per share resulting in compensation expense of $4,000, of which $1,000 was recognized in the quarter ended September 30, 2013. As of the date of the report, the shares have not been issued. | ||||||||||
On March 12, and April 22, 2013 the company sold 250,000 shares of its common stock for $50,000 or $0.20 per share to two investors. | ||||||||||
Preferred stock | ||||||||||
The Series 1 Class A 8% Cumulative Convertible Preferred Stock has a par value of $0.01per share. As of September 30, 2013 there were 50,400 shares outstanding. Holders of preferred shares are entitled to cumulative dividends of 8% per annum on the stated value of the stock, designated at $7 per share. Dividends are payable semi-annually on September 15 and March 15. No dividends have been paid since March 15, 1993, resulting in dividends in arrears at September 30, 2013 of approximately $578,592 or $$11.48 per share. Dividends are not payable on any other class of stock ranking junior to the preferred stock until the full cumulative dividend requirements of the preferred stock have been satisfied. The preferred stock carries a liquidation preference equal to its stated value plus any unpaid dividends. Holders of the preferred stock are entitled to one-tenth of a vote for each share of preferred stock held. The Company may, at its option, redeem at any time all shares of the preferred stock or some of them upon notice to each preferred stockholder at a per share price equal to the stated value ($7.00) plus all accrued and unpaid dividends thereon (whether or not declared) to the date fixed for redemption, subject to certain other provisions and requirements. Preferred Shares may be converted into Common Shares on a one share of Preferred Stock for two shares of Common Stock basis. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Notes | ' |
Subsequent Events | ' |
NOTE 2: TERMINATION OF AGREEMENT | |
On December 31, 2012 the Company entered into an agreement to purchase certain assets and technologies (“Assets”) from IceLounge Media, Inc. (“IMI”), an unrelated party, in exchange for 49% of TGFIN's common stock. On April 15, 2013 both parties mutually agreed to terminate the agreement prior to closing without obligation, penalty or consequence to either party. The Assets were returned to Ice Lounge and TGFIN’s common stock was not issued. The Company had expensed $255,771 as Research and development cost, or $0.10 per share of the 2,557,708 shares to be issued. On April 15, 2013 the company credited Research and development costs for $255,771 and removed the common stock payable for the same amount. | |
NOTE 8: SUBSEQUENT EVENTS | |
The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no events to disclose. |
The_Company_and_Condensed_Cons1
The Company and Condensed Consolidated Financial Statements (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Policies | ' |
Business Description | ' |
NOTE 1: THE COMPANY AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | |
The Company | |
The Company consists of TGFIN Holdings, Inc. ("TGFIN") and its sole and wholly-owned operating subsidiary, TradinGear.Com Incorporated ("TradinGear", or referred to collectively with TGFIN as the "Company"). TGFIN was incorporated under the laws of Delaware in March 1985 (originally as Mark, Inc.). TradinGear was incorporated under the laws of the State of Delaware on July 7, 1999. TGFIN Holdings, Inc. was formerly considered a non-business combination-related shell company as defined in Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2). The Company completed a transaction on February 19, 2010 that had the effect of causing it to cease to be a shell company, as defined in Rule 12b-2, by reactivating its previously inactive operating subsidiary, Tradingear and resuming its previous business of developing software under a new d/b/a: iDEV3. On April 15, 2013 the company filed a Definitive 14C for the purpose of changing the Company’s name and effectuating a ten (10) to one (1) reverse split of the Company’s common stock. As of the time of this filing, these corporate actions are still in progress. | |
TradinGear currently produces software applications (“Apps”) for telephones and other hand-held devices. | |
Financial Statements | |
The accompanying financial statements have been prepared by the Company without audit. They include information of TGFIN and TradinGear. In the opinion of management, all material adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at September 30, 2013, the results of operations for the three and nine month periods ended September 30, 2013 and 2012, and the cash flows for the three and nine month periods ended September 30, 2013 and 2012, have been made. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2012 audited financial statements. The results of operations for the three and nine month periods ended September 30, 2013 and 2012 are not necessarily indicative of the operating results for the respective full years. | |
Revenue Recognition | ' |
Revenue recognition | |
The company sold its current software at the Online Apple Store, which records all sales made on a daily basis. The company recognized its portion of the sales as revenue as of the date of the sale. | |
Going Concern Qualification | ' |
NOTE 3: GOING CONCERN QUALIFICATION | |
The Company has been a Development Stage Company since April 1, 2003. It has continuously sought an acceptable merger or acquisition candidate during that period and has incurred losses each year, except for the entry described above in NOTE 2: TERMINATION OF AGREEMENT. At September 30, 2013 the company had a Retained Deficit of $4,368,244. The company’s cash reserves of $17,294 as of September 30, 2013 are not adequate to fund all of the anticipated expenses for the year ending December 31, 2013. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. | |
The company plans to merge with, acquire existing Apps or companies, and continue to operate during the year ending December 31, 2013. Should the acquired or merged operating entity not have sufficient resources of its own to fund the combined entity’s operations, the Company will issue stock to raise sufficient operating capital if sufficient capital is not raised from operations. |
Convertible_Notes_Payable_Tabl
Convertible Notes Payable (Tables) | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
Tables/Schedules | ' | |||||
Schedule of Convertible Notes Payable | ' | |||||
30-Sep-13 | 31-Dec-12 | |||||
Convertible notes payable | $ | 79,000 | $ | 74,000 | ||
Total Notes payable | $ | 79,000 | $ | 74,000 |
Stock_Options_and_Warrants_Tab
Stock Options and Warrants (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Tables/Schedules | ' | |||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights | ' | |||||||||
Warrants | 2013 Weighted Average Exercise Price | Warrants | 2012 Weighted Average Exercise Price | |||||||
Outstanding, beginning balance | 60,000 | $ | 0.3 | 60,000 | $ | 0.3 | ||||
Granted | 0 | 0 | 0 | 0 | ||||||
Expired/Cancelled | 0 | 0 | 0 | 0 | ||||||
Exercised | 0 | 0 | 0 | 0 | ||||||
Outstanding ending balance | 60,000 | $ | 0.3 | 60,000 | $ | 0.3 | ||||
Exercisable | 60,000 | $ | 0.3 | 60,000 | $ | 0.3 |
The_Company_and_Condensed_Cons2
The Company and Condensed Consolidated Financial Statements (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Mar. 31, 2003 |
Details | ' | ' | ' | ' | ' |
Retained Deficit | $4,368,244 | ' | ' | ' | ' |
Cash | $17,294 | $370 | $473 | $952 | $2,953,318 |
Convertible_Notes_Payable_Deta
Convertible Notes Payable (Details) (USD $) | Sep. 30, 2013 | Jan. 03, 2013 | Dec. 31, 2012 |
Details | ' | ' | ' |
Convertible Notes Payable | $79,000 | ' | $74,000 |
Convertible 8 Percent Note Payable | ' | $5,000 | ' |
2010 Conversion Price Per Share | $0.30 | ' | ' |
2011 Conversion Price Per Share | $0.15 | ' | ' |
2012 and 2013 Conversion Price Per Share | $0.10 | ' | ' |
Accrued Interest Note Related | $13,653 | ' | ' |
Stock_Options_and_Warrants_Det
Stock Options and Warrants (Details) (USD $) | 9 Months Ended | 12 Months Ended | 126 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Apr. 02, 2013 | Mar. 01, 2013 | Jan. 02, 2013 | |
Details | ' | ' | ' | ' | ' | ' | ' | ' |
Number of warrants outstanding | ' | 60,000 | 60,000 | ' | 60,000 | ' | ' | ' |
Weighted average exercise price of warrants outstanding | $0.30 | ' | $0.30 | $0.30 | $0.30 | ' | ' | ' |
Number of warrants granted | 0 | ' | 0 | ' | ' | ' | ' | ' |
Weighted average exercise price of warrants granted | $0 | ' | $0 | $0 | ' | ' | ' | ' |
Number of warrants expired | 0 | ' | 0 | ' | ' | ' | ' | ' |
Weighted average exercise price of warrants expired | $0 | ' | $0 | $0 | ' | ' | ' | ' |
Number of warrants exercised | 0 | ' | 0 | ' | ' | ' | ' | ' |
Weighted average exercise price of warrants exercised | $0 | ' | $0 | $0 | ' | ' | ' | ' |
Number of warrants exercisable | 60,000 | ' | 60,000 | 60,000 | ' | ' | ' | ' |
Weighted average exercise price of warrants exercisable | $0.30 | ' | $0.30 | $0.30 | ' | ' | ' | ' |
Common stock authorized | 50,000,000 | ' | 50,000,000 | 50,000,000 | ' | ' | ' | ' |
Common stock par value | $0.01 | ' | $0.01 | $0.01 | ' | ' | ' | ' |
Common stock outstanding | 2,332,105 | ' | 2,332,105 | 2,332,105 | ' | ' | ' | ' |
common stock shares awarded | 10,000 | ' | ' | 10,000 | ' | ' | ' | ' |
award values per share | ' | ' | ' | ' | ' | $0.20 | $0.20 | $0.10 |
Compensation costs of common stock issued or payable to employees and consultants | $4,000 | $5,000 | ' | $175,355 | ' | ' | ' | ' |
recognized share based compensation | 1,000 | ' | ' | 1,000 | ' | ' | ' | ' |
Development Stage Entities, Stock Issued, Shares, Issued for Cash | 250,000 | ' | ' | ' | ' | ' | ' | ' |
Development Stage Entities, Stock Issued, Value, Issued for Cash | 50,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock par value | $0.01 | ' | $0.01 | $0.01 | ' | ' | ' | ' |
Preferred stock outstanding | 50,400 | ' | 50,400 | 50,400 | ' | ' | ' | ' |
cumulative dividends percent | 8.00% | ' | ' | ' | ' | ' | ' | ' |
Stated value of preferred stock | $7 | ' | ' | ' | ' | ' | ' | ' |
dividends in arrears | $578,592 | ' | ' | ' | ' | ' | ' | ' |
dividends in arrears per share amount | $11.48 | ' | ' | ' | ' | ' | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 3 Months Ended | 9 Months Ended | 120 Months Ended | 126 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 15, 2013 | Dec. 31, 2012 | |
Details | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development | $0 | $0 | ($255,771) | $0 | $255,771 | $0 | ' | ' |
Asset Acquisition shares price per share | $0.10 | ' | $0.10 | ' | ' | $0.10 | ' | ' |
Asset Acquisition shares to be issued | 2,557,708 | ' | 2,557,708 | ' | ' | 2,557,708 | ' | ' |
Common stock payable | $0 | ' | $0 | ' | ' | $0 | $255,771 | $255,771 |