Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2013 | 15-May-14 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'BIOETHICS LTD | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000894560 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 11,000,000 |
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 | 'Q1 | ' |
UNAUDITED_CONDENSED_BALANCE_SH
UNAUDITED CONDENSED BALANCE SHEETS (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash | $2,656 | $359 |
Prepaid Expenses | 380 | 0 |
Total Current Assets | 3,036 | 359 |
TOTAL ASSETS | 3,036 | 359 |
LIABILITIES | ' | ' |
Accounts payable | 2,773 | 3,795 |
Accrued Interest Payable - Stockholder | 13,119 | 11,877 |
Notes Payable - Stockholder | 91,000 | 80,000 |
Total Current Liabilities | 106,892 | 95,672 |
Total Liabilities | 106,892 | 95,672 |
STOCKHOLDERS' EQUITY (DEFICIT): | ' | ' |
Common stock; $.001 par value, 25,000,000 shares authorized, 11,000,000 shares issued and outstanding | 11,000 | 11,000 |
Capital in excess of par value | 92,776 | 92,776 |
Deficit accumulated during the development stage | -207,632 | -199,089 |
Total Stockholders' Equity (Deficit) | -103,856 | -95,313 |
Total Liabilities & Stockholders equity | $3,036 | $359 |
BALANCE_SHEETS_PARENTHETICALS
BALANCE SHEETS PARENTHETICALS (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Parentheticals | ' | ' |
Common Stock, Par Value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Common Stock, Shares Issued | 11,000,000 | 11,000,000 |
Common Stock, Shares Outstanding | 11,000,000 | 11,000,000 |
UNAUDITED_CONDENSED_STATEMENTS
UNAUDITED CONDENSED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 284 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
REVENUE | ' | ' | ' |
REVENUE | $0 | $0 | $0 |
EXPENSES: | ' | ' | ' |
General and administrative | 7,301 | 6,276 | 194,513 |
LOSS BEFORE OTHER INCOME (EXPENSE) | -7,301 | -6,276 | -194,513 |
OTHER INCOME (EXPENSE) | ' | ' | ' |
Interest Expense | -1,242 | -1,035 | -13,119 |
LOSS BEFORE INCOME TAXES | -8,543 | -7,311 | -207,632 |
CURRENT TAX EXPENSE | 0 | 0 | 0 |
DEFERRED TAX EXPENSE | 0 | 0 | 0 |
NET LOSS | ($8,543) | ($7,311) | ($207,632) |
LOSS PER COMMON SHARE | $0 | $0 | ' |
UNAUDITED_CONDENSED_STATEMENTS1
UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | 284 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Operating Activities: | ' | ' | ' |
Net loss | ($8,543) | ($7,311) | ($207,632) |
Changes in assets and liabilities: | ' | ' | ' |
(Increase) decrease in prepaid expense | -380 | 0 | -380 |
Increase (decrease) in accounts payable | -1,022 | 5,366 | 2,773 |
Increase (decrease) in accrued interest | 1,242 | 1,035 | 13,119 |
Net Cash (Used) by Operating Activities | -8,703 | -910 | -192,120 |
Cash flows from Investing Activities: | ' | ' | ' |
Net Cash Provided by Investing Activities | 0 | 0 | 0 |
Cash Flows from Financing Activities: | ' | ' | ' |
Proceeds from common stock issuance | 0 | 0 | 41,000 |
Capital contribution | 0 | 0 | 62,776 |
Proceeds from notes payable | 11,000 | 0 | 91,000 |
Net Cash Provided by Financing Activities | 11,000 | 0 | 194,776 |
Net Increase (Decrease) in Cash | 2,297 | -910 | 2,656 |
Cash at Beginning of Period | 359 | 4,505 | 0 |
Cash at End of Period | 2,656 | 3,595 | 2,656 |
Supplemental Disclosures of Cash Flow Information: | ' | ' | ' |
Interest | 0 | 0 | 0 |
Income Taxes | $0 | $0 | $0 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2013 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Organization - Bioethics, Ltd. (“the Company”) was organized under the laws of the State of Nevada on July 26, 1990. The Company has not commenced planned principal operations and is considered a development stage company as defined in ASC Topic No. 915. The Company was organized to provide a vehicle for participating in potentially profitable business ventures which may become available through the personal contacts of, and at the complete discretion of, the Company’s officers and directors. The Company has, at the present time, not paid any dividends and any dividends that may be paid in the future will depend upon the financial requirements of the Company and other relevant factors. | |
Condensed Financial Statements - The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2014 and 2013 and for the periods then ended 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 full year |
CAPITAL_STOCK
CAPITAL STOCK | 3 Months Ended |
Mar. 31, 2013 | |
CAPITAL STOCK: | ' |
CAPITAL STOCK | ' |
NOTE 2 - CAPITAL STOCK | |
Common Stock - In July 1990, in connection with its organization, the Company issued 1,000,000 shares of its previously authorized but unissued common stock. Total proceeds from the sale of stock amounted to $1,000 (or $.001 per share). | |
In May 1998, the Company issued 10,000,000 shares of its previously authorized but unissued common stock. Total proceeds from the sale of stock amounted to $40,000 (or $.004 per share). The issuance of common stock resulted in a change in control of the Company. | |
Capital Contribution - During the years 2005 to 2009, the Company received a total of $62,776 in shareholder contributions. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2013 | |
RELATED PARTY TRANSACTIONS: | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 3 - RELATED PARTY TRANSACTIONS | |
Management Compensation - During the three months ended March 31, 2014 and 2013, the Company did not pay any compensation to its officers and directors. | |
Office Space - The Company has not had a need to rent office space. An officer/shareholder of the Company is allowing the Company to use his home as a mailing address, as needed, at no expense to the Company. | |
Notes Payable - In January 2010, the Company borrowed $25,000 from a stockholder of the Company pursuant to an unsecured promissory note. In May and June 2011, the Company borrowed $5,000 and $20,000 from a stockholder of the Company pursuant to unsecured promissory notes. In July 2012, the Company borrowed $20,000 from a stockholder of the Company pursuant to an unsecured promissory note. In May 2013, the Company borrowed $10,000 from a stockholder of the Company pursuant to an unsecured promissory note. In January 2014, the Company borrowed $5,000 from a stockholder of the Company pursuant to an unsecured promissory note. In March 2014, the Company borrowed $6,000 from a stockholder of the Company pursuant to an unsecured promissory note. Such notes are due on demand and accrue interest at 6% per annum. At March 31, 2014 accrued interest on such notes was $13,119. | |
GOING_CONCERN
GOING CONCERN | 3 Months Ended |
Mar. 31, 2013 | |
GOING CONCERN | ' |
GOING CONCERN | ' |
NOTE 4 - GOING CONCERN | |
The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, the Company has incurred losses since its inception and has no on-going operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans, additional sales of its common stock or through a possible business combination. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. | |
LOSS_PER_SHARE
LOSS PER SHARE | 3 Months Ended | ||||
Mar. 31, 2013 | |||||
LOSS PER SHARE | ' | ||||
LOSS PER SHARE | ' | ||||
NOTE 5 - LOSS PER SHARE | |||||
The following data show the amounts used in computing loss per share: | |||||
For the Three | |||||
Months Ended | |||||
March 31, | |||||
2014 | 2013 | ||||
Loss from continuing operations | |||||
applicable to common | |||||
stockholders (numerator) | $ | -8,543 | $ | -7,311 | |
Weighted average number of | |||||
common shares outstanding | |||||
used in loss per share calculation | |||||
during the period (denominator) | 11,000,000 | 11,000,000 | |||
Dilutive loss per share was not presented, as the Company had no common equivalent shares for all periods presented that would affect the computation of diluted loss per share. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2013 | |
SUBSEQUENT EVENTS | ' |
SUBSEQUENT EVENTS | ' |
NOTE 6 – SUBSEQUENT EVENTS | |
The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and determined there are no additional events to disclose. |
ACCOUNTING_POLICIES_Policies
ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2013 | |
ACCOUNTING POLICIES | ' |
Organization | 'Organization - Bioethics, Ltd. (“the Company”) was organized under the laws of the State of Nevada on July 26, 1990. The Company has not commenced planned principal operations and is considered a development stage company as defined in ASC Topic No. 915. The Company was organized to provide a vehicle for participating in potentially profitable business ventures which may become available through the personal contacts of, and at the complete discretion of, the Company’s officers and directors. The Company has, at the present time, not paid any dividends and any dividends that may be paid in the future will depend upon the financial requirements of the Company and other relevant factors |
Condensed Financial Statements | ' |
Condensed Financial Statements - The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2014 and 2013 and for the periods then ended 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 full year. | |
LOSS_PER_SHARE_Table
LOSS PER SHARE (Table) | 3 Months Ended | ||||
Mar. 31, 2013 | |||||
LOSS PER SHARE (Table) | ' | ||||
Schedule of Earnings Per Share, Basic and Diluted | ' | ||||
The following data show the amounts used in computing loss per share: | |||||
For the Three | |||||
Months Ended | |||||
March 31, | |||||
2014 | 2013 | ||||
Loss from continuing operations | |||||
applicable to common | |||||
stockholders (numerator) | $ | -8,543 | $ | -7,311 | |
Weighted average number of | |||||
common shares outstanding | |||||
used in loss per share calculation | |||||
during the period (denominator) | 11,000,000 | 11,000,000 |
Capital_Stock_Transactions_Det
Capital Stock Transactions (Details) (USD $) | Mar. 31, 2014 | 1-May-98 | Jul. 01, 1990 |
Capital Stock Transactions | ' | ' | ' |
Company issued shares previously authorized but unissued common stock | ' | 10,000,000 | 1,000,000 |
Total proceeds from the sale of stock amounted | ' | $40,000 | $1,000 |
Per share value | ' | $0.00 | $0.00 |
Shareholders contributions for years 2005 to 2009 | $62,776 | ' | ' |
RELATED_PARTY_TRANSACTION_Deta
RELATED PARTY TRANSACTION (Details) (USD $) | Mar. 31, 2014 | Jan. 31, 2014 | 31-May-13 | Jul. 31, 2012 | Jun. 30, 2011 | 31-May-11 | Jan. 31, 2010 |
RELATED PARTY TRANSACTION: | ' | ' | ' | ' | ' | ' | ' |
Borrowed From a Stockholder | $6,000 | $5,000 | $10,000 | $20,000 | $20,000 | $5,000 | $25,000 |
Accrued Interest Rate Per Annum | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
Accrued Interest On Notes | $13,119 | $0 | $0 | $0 | $0 | $0 | $0 |
COMPUTING_LOSS_PER_SHARE_Detai
COMPUTING LOSS PER SHARE (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
COMPUTING LOSS PER SHARES: | ' | ' |
Loss from continuing operations applicable to common stockholders (numerator) | ($8,543) | ($7,311) |
Weighted average number of common shares outstanding used in loss per share calculation during the period (denominator) | '11000000 | '11000000 |