Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 13-May-14 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'Redify Group, Inc. | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000876134 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 3,522,286 |
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 | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
REDIFY_GROUP_INC_AND_SUBSIDIAR
REDIFY GROUP INC. AND SUBSIDIARY (A Development Stage Company) CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Current Assets: | ' | ' |
Cash | $540 | $8,372 |
Prepaid expenses | 2,550 | 500 |
Total Current Assets | 3,090 | 8,872 |
Total Assets | 3,090 | 8,872 |
Current Liabilities: | ' | ' |
Accounts payable | 15,569 | 13,235 |
Accrued expenses | 16,848 | 15,268 |
Convertible notes payable | 79,000 | 79,000 |
Total Current Liabilities | 111,417 | 107,503 |
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 | 29,623 | 29,423 |
Additional paid-in-capital | 4,279,769 | 4,269,569 |
Retained deficit prior to development stage | -1,077,063 | -1,077,063 |
Retained deficit during development stage | -3,341,160 | -3,321,064 |
Total Stockholders' Deficit | -108,327 | -98,631 |
Total Liabilities and Stockholders' Deficit | $3,090 | $8,872 |
REDIFY_GROUP_INC_Balance_Sheet
REDIFY GROUP INC. Balance Sheet (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
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 | 55,000,000 | 50,000,000 |
Common stock par value | $0.01 | $0.01 |
Common stock outstanding | 2,962,286 | 2,942,286 |
Common stock issued | 2,962,286 | 2,942,286 |
REDIFY_GROUP_INC_AND_SUBSIDIAR1
REDIFY GROUP INC. AND SUBSIDIARY(A Development Stage Company) CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 132 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Income Statement | ' | ' | ' |
Revenues | $0 | $0 | $356 |
Cost of Goods Sold | 0 | 0 | 0 |
Gross Profit | 0 | 0 | 356 |
Payroll and related | 8,350 | 17,500 | 2,036,369 |
Selling, General and Administrative | 3,215 | 2,730 | 929,117 |
Legal and Professional | 8,532 | 9,760 | 501,130 |
Amortization | 0 | 0 | 12,000 |
Total operating Expense | 20,097 | 29,990 | 3,478,616 |
Operating Income (Loss) | -20,097 | -29,990 | -3,478,260 |
Interest Income | 1 | 3 | 137,100 |
Total other income | 1 | 3 | 137,100 |
Net Income (Loss) | ($20,096) | ($29,987) | ($3,341,160) |
Basic and Diluted Income (loss) per share | ($0.01) | ($0.01) | ' |
Weighted Average Number of shares outstanding | 2,962,286 | 2,332,105 | ' |
REDIFY_GROUP_INC_AND_SUBSIDIAR2
REDIFY GROUP INC. AND SUBSIDIARY (A Development Stage Company) CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 3 Months Ended | 132 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Cash Flows from Operating Activities: | ' | ' | ' |
Net Loss | ($20,096) | ($29,987) | ($3,341,160) |
Amortization of deferred compensation | 0 | 0 | 13,751 |
Amortization of software | 0 | 0 | 12,000 |
Compensation costs of common stock issued or payable to employees and consultants | 3,400 | 2,000 | 178,755 |
Cost of donated services | 7,000 | 17,000 | 190,000 |
Cost of common stock issued to shareholders | 0 | 0 | 16,500 |
Decrease (increase) in accounts receivable | 0 | 0 | 31,250 |
Decrease (increase) in prepaid expenses | -2,050 | -1,500 | 12,202 |
(Decrease) increase in accounts payable and accrued expenses | 3,914 | 7,079 | -195,076 |
Net cash used in operating activities | -7,832 | -5,408 | -3,081,778 |
Net cash provided by investing activities | 0 | 0 | 0 |
Cash Flows from Financing activities: | ' | ' | ' |
Proceeds from sale of Common stock | 0 | 34,000 | 50,000 |
Proceeds from convertible notes payable | 0 | 5,000 | 79,000 |
Net cash provided by financing activities | 0 | 39,000 | 129,000 |
Net Increase (Decrease) in cash and cash equivalents | -7,832 | 33,592 | -2,952,778 |
Cash and Cash Equivalents, beginning of period | 8,372 | 370 | 2,953,318 |
Cash and Cash Equivalents, end of period | 540 | 33,962 | 540 |
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 | 91,230 |
Common stock issued to prior shareholders | 0 | 0 | 16,500 |
Conversion of preferred stock | 0 | 0 | 2 |
Common stock issued in rounding Reverse split | 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 | 3 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
The Company and Condensed Consolidated Financial Statements | ' |
NOTE 1: THE COMPANY AND CONSOLIDATED FINANCIAL STATEMENTS | |
The Company | |
The Company consists of Redify Group, Inc. (“RGI”, non-operating parent corporation) and its sole and wholly-owned operating subsidiary, TradinGear.Com, Incorporated (“Tradingear,” combined, the "Company"). The company changed its name to Redify Group, Inc. from TGFIN Holdings, Inc. (“TGFN”) on October 2, 2013. The Company reactivated its previously inactive operating subsidiary, Tradingear in order to resume 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. These corporate actions were approved by the Financial Industry Regulatory Authority (“FINRA”) on February 28, 2014, and became effective with the OTCQB at the opening of trading on February 28, 2014 under the symbol “TGFND”. The “D” appeared on the Company’s ticker symbol for the following 20 business days. Thereafter, the Company’s ticker symbol became RDFY. | |
Redify Group, Inc. was incorporated under the laws of Delaware in March 1985 as Mark, Inc. From March 1992 to September 12, 2002 Redify Group, Inc. was known as Digitran Systems, Incorporated ("DSI"), and from September 12, 2002 to October 2, 2013 it was known as TGFIN Holdings, Inc. during which time, TradinGear.com, Incorporated (incorporated under the laws of the State of Delaware on July 7, 1999) became the operating subsidiary of Redify Group, Inc. Redify Group, Inc., then known as TGFIN Holdings, Inc. sold the assets of Tradingear.com Incorporated effective March 31, 2003. | |
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 RGI and TradinGear. In the opinion of management, all material adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2014, the results of operations for the three month periods ended March 31, 2014 and 2013, and the cash flows for the three month periods ended March 31, 2014 and 2013, 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, 2013 audited financial statements. The results of operations for the periods ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the respective full years. | |
Revenue recognition | |
The company sells its current software at the Online Apple Store, which records all sales made on a daily basis. The company recognizes its portion of the sales as revenue as of the date of the sale. | |
NOTE 3: GOING CONCERN | |
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. For the quarter ended March 31, 2014 the company lost $(20,096) and had a Retained Deficit of $4,418,223. The company’s cash reserves of $540 as of March 31, 2014 are not adequate to fund all of the anticipated expenses for the year ending December 31, 2014. 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, 2014. 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. | |
On May 5, 2014 the Company sold 550,000 equity Units for $55,000, or $.10 per Unit. Each Unit consists of one share of RGI Class A Common stock and one Warrant to purchase one share of Class A Common stock for $0.50, expiring on May 5, 2024. See NOTE 7: SUBSEQUENT EVENTS. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
Commitments and Contingencies | ' |
NOTE 2: 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 March 31, 2014 there were no claims asserted or threatened against the Company |
Convertible_Notes_Payable
Convertible Notes Payable | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Notes | ' | |||||
Convertible Notes Payable | ' | |||||
NOTE 4: CONVERTIBLE NOTES PAYABLE - RELATED PARTY | ||||||
31-Mar-14 | December 31, 2013 | |||||
Convertible 8% Demand Notes Payable | $ | 79,000 | $ | 79,000 | ||
Total Notes payable | $ | 79,000 | $ | 79,000 | ||
The Convertible 8% Notes Payable were originated on various dates in 2010, 2011, 2012, and 2013. The Notes originated in 2010 are convertible into Class A Common Stock of RGI at $.30 per share at any time at the holder’s option. The Notes originated in 2011 are convertible into common stock of RGI at $.15 per share at any time at the holder’s option. The Notes originated in 2012 and 2013 are convertible into common stock of RGI at $.10 per share at any time at the holder’s option. Accrued interest related to these notes as of March 31, 2014 was $16,848. As of March 31, 2014 the Convertible Notes Payable were convertible into 535,000 shares of RGI Class A Common Stock. Effective December 12, 2012, all rights to the Notes were assigned to Marni Gaer, the spouse of Sam Gaer. |
Stock_Options_and_Warrants
Stock Options and Warrants | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Notes | ' | |||||||||
Stock Options and Warrants | ' | |||||||||
NOTE 5: STOCK OPTIONS AND WARRANTS | ||||||||||
A summary of the status of the Company's outstanding stock options and warrants (all of which were expired) as of March 31, 2014 and December 31, 2013 and changes during the periods then ended, is presented below: | ||||||||||
Shares | 2014 Weighted Average Exercise Price | Shares | 2013 Weighted Average Exercise Price | |||||||
Outstanding, beginning of quarter | - | $ | - | 60,000 | $ | 0.3 | ||||
Granted | - | - | - | - | ||||||
Expired/Cancelled | - | - | -60,000 | 0.3 | ||||||
Exercised | - | - | - | - | ||||||
Outstanding end of quarter | - | $ | - | - | $ | - | ||||
Exercisable | - | $ | - | - | $ | - | ||||
Effective December 19, 2012 all rights to the Options were assigned to Marni Gaer, the spouse of Sam Gaer. | ||||||||||
NOTE 6: CAPITAL STOCK | ||||||||||
Common stock | ||||||||||
The authorized capital stock of the Company consists of 50,000,000shares of Class A Common stock, par value $0.01 per share, of which 2,962,286 were outstanding as of March 31, 2014 and 5,000,000 shares of Class B Common stock, par value $0.01 per share, of which no shares have been issued. On March 28, 2013 the company’s Board of Directors authorized a ten (10) to one (1) reverse-split of the company’s Class A Common Stock, which became effective February 28, 2014. All references to Common stock have been retroactively restated to reflect the reverse split. Holders of Class A Common Stock are entitled to one vote per share. | ||||||||||
The Class A Common Stock and the Class B Common Stock attributes and rights are identical except for the following: (a) Class B has pre-emptive rights with respect to Class B issuances, (b) Class A has a dividend and liquidation preference, and (c) if there is a Class B, its holders have the right to control the Board of Directors. The Company has no plans to issue any Class B Common Shares in the near future. All references to Common Stock issuances, unless otherwise indicated, refer to the Class A Common Stock shares. | ||||||||||
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, which were issued on March 20, 2014. | ||||||||||
On January 1 and April 1, 2013 the Company awarded 10,000 shares of common stock to each Director and the Chairman 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 $3,500 was recognized in the year ended December 31, 2013. On March 11, 2014 the shares were issued. | ||||||||||
On January 1, 2014 the Company awarded 10,000 shares of common stock to each Director and the Chairman in accordance with a Board Resolution. The shares were valued at the market price at the date of issuance of $0.17 per share resulting in additional compensation expense of $3,400, of which $1,350 was recognized in the quarter ended March 31, 2014. | ||||||||||
Preferred Stock | ||||||||||
The Company has authorized 1,000,000 shares of Preferred Shares with a par value of $0.01per share, of which 450,000 are undesignated and unissued. The remaining 550,000 shares are designated as Series 1 Class A 8% Cumulative Convertible Preferred Stock (“Preferred stock”), of which 50,400 shares were issued and outstanding as of December 31, 2013. There are insufficient Series 1, Class A 8% Cumulative Convertible Preferred Shares remaining to trade publicly. | ||||||||||
Holders of both, the Series 1, Class A 8% Cumulative Convertible Preferred Stock and the undesignated class of Preferred stock are entitled to one-tenth of a vote for each share of preferred stock held. | ||||||||||
Since only the Series 1, Class A 8% Cumulative Convertible Preferred Shares are issued and outstanding, all references to preferred shares, unless otherwise indicated, refer to the Series 1, Class A 8% Cumulative Convertible Preferred Shares. | ||||||||||
The Series 1, Class A 8% Cumulative Convertible Preferred Stock carries a liquidation preference equal to its stated value plus any unpaid dividends. 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. | ||||||||||
Holders of Series 1, Class A 8% Cumulative Convertible 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 declared or paid since March 15, 1993, resulting in dividends in arrears at December 31, 2013 of approximately $592,704 or $11.76 per share. Dividends are not payable on any other class of stock ranking junior to the Series 1, Class A 8% Cumulative Convertible Preferred Stock until the full cumulative dividend requirements of the Series 1, Class A 8% Cumulative Convertible Preferred Stock have been satisfied. There are not sufficient Series 1, Class A 8% Cumulative Convertible Preferred Shares (left unconverted) to trade publicly and the financial condition of the company has made the probability of dividend payment to Series 1, Class A 8% Cumulative Convertible Preferred shareholders unlikely. | ||||||||||
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
Subsequent Events | ' |
NOTE 7: SUBSEQUENT EVENTS | |
Unregistered Sales of Common Stock | |
On May 7, 2014 the Company sold 550,000 equity Units for $55,000, or $.10 per Unit. Each Unit consists of one share of RGI Class A Common stock and one Warrant to purchase one share of Class A Common stock for $0.50, expiring on May 7, 2024. | |
On April 1, 2014 the Company awarded 10,000 shares of common stock to the Chairman in accordance with a Board Resolution. The shares were valued at the market price at the date of issuance of $.11 per share resulting in additional compensation expense of $1,100, of which none was recognized in the quarter ended March 31, 2014. | |
The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no additional events to disclose. |
The_Company_and_Condensed_Cons1
The Company and Condensed Consolidated Financial Statements (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Policies | ' |
Business Description | ' |
NOTE 1: THE COMPANY AND CONSOLIDATED FINANCIAL STATEMENTS | |
The Company | |
The Company consists of Redify Group, Inc. (“RGI”, non-operating parent corporation) and its sole and wholly-owned operating subsidiary, TradinGear.Com, Incorporated (“Tradingear,” combined, the "Company"). The company changed its name to Redify Group, Inc. from TGFIN Holdings, Inc. (“TGFN”) on October 2, 2013. The Company reactivated its previously inactive operating subsidiary, Tradingear in order to resume 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. These corporate actions were approved by the Financial Industry Regulatory Authority (“FINRA”) on February 28, 2014, and became effective with the OTCQB at the opening of trading on February 28, 2014 under the symbol “TGFND”. The “D” appeared on the Company’s ticker symbol for the following 20 business days. Thereafter, the Company’s ticker symbol became RDFY. | |
Redify Group, Inc. was incorporated under the laws of Delaware in March 1985 as Mark, Inc. From March 1992 to September 12, 2002 Redify Group, Inc. was known as Digitran Systems, Incorporated ("DSI"), and from September 12, 2002 to October 2, 2013 it was known as TGFIN Holdings, Inc. during which time, TradinGear.com, Incorporated (incorporated under the laws of the State of Delaware on July 7, 1999) became the operating subsidiary of Redify Group, Inc. Redify Group, Inc., then known as TGFIN Holdings, Inc. sold the assets of Tradingear.com Incorporated effective March 31, 2003. | |
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 RGI and TradinGear. In the opinion of management, all material adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at March 31, 2014, the results of operations for the three month periods ended March 31, 2014 and 2013, and the cash flows for the three month periods ended March 31, 2014 and 2013, 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, 2013 audited financial statements. The results of operations for the periods ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the respective full years. | |
Revenue Recognition | ' |
Revenue recognition | |
The company sells its current software at the Online Apple Store, which records all sales made on a daily basis. The company recognizes its portion of the sales as revenue as of the date of the sale. | |
Going Concern Qualification | ' |
NOTE 3: GOING CONCERN | |
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. For the quarter ended March 31, 2014 the company lost $(20,096) and had a Retained Deficit of $4,418,223. The company’s cash reserves of $540 as of March 31, 2014 are not adequate to fund all of the anticipated expenses for the year ending December 31, 2014. 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, 2014. 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. | |
On May 5, 2014 the Company sold 550,000 equity Units for $55,000, or $.10 per Unit. Each Unit consists of one share of RGI Class A Common stock and one Warrant to purchase one share of Class A Common stock for $0.50, expiring on May 5, 2024. See NOTE 7: SUBSEQUENT EVENTS. |
Convertible_Notes_Payable_Tabl
Convertible Notes Payable (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Tables/Schedules | ' | |||||
Schedule of Convertible Notes Payable | ' | |||||
31-Mar-14 | December 31, 2013 | |||||
Convertible 8% Demand Notes Payable | $ | 79,000 | $ | 79,000 | ||
Total Notes payable | $ | 79,000 | $ | 79,000 |
Stock_Options_and_Warrants_Tab
Stock Options and Warrants (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Tables/Schedules | ' | |||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights | ' | |||||||||
Shares | 2014 Weighted Average Exercise Price | Shares | 2013 Weighted Average Exercise Price | |||||||
Outstanding, beginning of quarter | - | $ | - | 60,000 | $ | 0.3 | ||||
Granted | - | - | - | - | ||||||
Expired/Cancelled | - | - | -60,000 | 0.3 | ||||||
Exercised | - | - | - | - | ||||||
Outstanding end of quarter | - | $ | - | - | $ | - | ||||
Exercisable | - | $ | - | - | $ | - |
The_Company_and_Condensed_Cons2
The Company and Condensed Consolidated Financial Statements (Details) (USD $) | 3 Months Ended | 132 Months Ended | |||||
Jun. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2003 | |
Details | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Note, Stock Split, Conversion Ratio | ' | 10 | ' | ' | ' | ' | ' |
Net Loss | ' | ($20,096) | ($29,987) | ($3,341,160) | ' | ' | ' |
Retained Deficit | ' | $4,418,223 | ' | $4,418,223 | ' | ' | ' |
Cash | ' | 540 | 33,962 | 540 | 8,372 | 370 | 2,953,318 |
units sold | ' | 550,000 | ' | ' | ' | ' | ' |
Proceeds from sale of Common stock | $55,000 | $0 | $34,000 | $50,000 | ' | ' | ' |
per unit sale price | ' | $0.10 | ' | ' | ' | ' | ' |
units per share amount | ' | $0.50 | ' | ' | ' | ' | ' |
Convertible_Notes_Payable_Deta
Convertible Notes Payable (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Details | ' | ' |
Convertible Notes Payable | $79,000 | $79,000 |
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 | $16,848 | ' |
shares received from convertible promissory notes | 535,000 | ' |
Stock_Options_and_Warrants_Det
Stock Options and Warrants (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2014 | Dec. 31, 2013 | Mar. 20, 2014 | Apr. 02, 2013 | Mar. 31, 2013 | Mar. 01, 2013 | Jan. 02, 2013 | |
Details | ' | ' | ' | ' | ' | ' | ' |
Number of warrants outstanding | ' | 60,000 | ' | ' | ' | ' | ' |
Weighted average exercise price of warrants outstanding | ' | $0.30 | ' | ' | ' | ' | ' |
Number of warrants expired | ' | -60,000 | ' | ' | ' | ' | ' |
Weighted average exercise price of warrants expired | ' | $0.30 | ' | ' | ' | ' | ' |
class a common authorized | 50,000,000 | ' | ' | ' | ' | ' | ' |
Common stock par value | $0.01 | $0.01 | ' | ' | ' | ' | ' |
Common stock outstanding | 2,962,286 | 2,942,286 | ' | ' | ' | ' | ' |
Common Stock, Other Shares, Outstanding | 5,000,000 | ' | ' | ' | ' | ' | ' |
Class B Common Stock Par Value | $0.01 | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 | ' | ' | ' | ' | ' | ' |
Development Stage Entities, Stock Issued, Shares, Issued for Cash | 250,000 | ' | ' | ' | ' | ' | ' |
Development Stage Entities, Stock Issued, Value, Issued for Cash | $50,000 | ' | ' | ' | ' | ' | ' |
award values per share | $0.17 | ' | $0.20 | $0.20 | ' | ' | $0.10 |
common stock shares awarded | 10,000 | ' | ' | ' | 10,000 | ' | ' |
Award Shares Compensation Expense | 3,400 | ' | ' | ' | ' | 4,000 | ' |
recognized share based compensation | 1,350 | ' | ' | ' | 3,500 | ' | ' |
Preferred stock authorized | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' |
Preferred stock par value | $0.01 | $0.01 | ' | ' | ' | ' | ' |
undesignated and preferred shares | 450,000 | ' | ' | ' | ' | ' | ' |
series 1 class a 8% cumulative convertible preferred | 550,000 | ' | ' | ' | ' | ' | ' |
Preferred stock outstanding | 50,400 | 50,400 | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | 8.00% | ' | ' | ' | ' | ' | ' |
Stated value of preferred stock | $7 | ' | ' | ' | ' | ' | ' |
dividends in arrears | $592,704 | ' | ' | ' | ' | ' | ' |
dividends in arrears per share amount | $11.76 | ' | ' | ' | ' | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 3 Months Ended | 132 Months Ended | ||
Jun. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Details | ' | ' | ' | ' |
units sold | ' | 550,000 | ' | ' |
Proceeds from sale of Common stock | $55,000 | $0 | $34,000 | $50,000 |
per unit sale price | ' | $0.10 | ' | ' |
Sale of Stock, Description of Transaction | ' | 'Each Unit consists of one share of RGI Class A Common stock and one Warrant to purchase one share of Class A Common stock for $0.50, expiring on May 7, 2024 | ' | ' |
units per share amount | ' | $0.50 | ' | ' |
common stock shares awarded | ' | 10,000 | 10,000 | 10,000 |
compensation shares price per share | ' | 0.11 | ' | ' |
Deferred Compensation Arrangement with Individual, Compensation Expense | ' | $1,100 | ' | ' |