Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | 14-May-15 | Jun. 30, 2014 | |
Document And Entity Information | |||
Entity Registrant Name | WORLD HEALTH ENERGY HOLDINGS, INC. | ||
Entity Central Index Key | 943535 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Smaller Reporting Company | ||
EntityWellKnownSeasonedIssuer | No | ||
Entity Voluntary Filer | No | ||
Entity Reporting Status Current | No | ||
Entity Public Float | $1,204,098 | ||
Entity Common Stock, Shares Outstanding | 19,789,407,996 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2014 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
CURRENT ASSETS | ||
Cash | ||
PROPERTY AND EQUIPMENT | ||
Furniture, fixtures and equipment | 4,353 | 4,353 |
Less: Accumulated depreciation | 4,353 | 4,353 |
TOTAL PROPERTY AND EQUIPMENT | ||
TOTAL ASSETS | 0 | 0 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 87,732 | 82,940 |
Due to affiliates | 345,172 | 330,172 |
Total Current Liabilities | 432,904 | 413,112 |
LONG-TERM LIABILITIES | ||
Convertible Note Payable | 21,474 | |
TOTAL LIABILITIES | 454,378 | 413,112 |
Commitments and Contingencies | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, $0.0007 par value, authorized 10,000,000 shares; 2,500,000 issued and outstanding | 1,750 | 1,750 |
Common stock, $0.0007 par value, authorized 110,000,000,000 shares; 19,789,407,996 issued and outstanding | 13,852,585 | 13,852,585 |
Additional paid in capital | 11,433,491 | 11,433,491 |
Accumulated deficit | -25,742,204 | -25,700,938 |
TOTAL STOCKHOLDERS' DEFICIT | -454,378 | -413,112 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $0 | $0 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 2,500,000 | 2,500,000 |
Preferred stock, shares outstanding | 2,500,000 | 2,500,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 110,000,000,000 | 110,000,000,000 |
Common stock, shares issued | 19,789,407,996 | 19,789,407,996 |
Common stock, shares outstanding | 19,789,407,996 | 19,789,407,996 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | ||
REVENUE | ||
COST OF SALES | ||
GROSS MARGIN | ||
OPERATING EXPENSES | ||
General and administrative | 19,063 | 26,129 |
Professional fees | 22,203 | 25,688 |
Total expenses | 41,266 | 51,817 |
NET LOSS | ($41,266) | ($51,817) |
LOSS PER WEIGHTED AVERAGE COMMON SHARES | $0 | $0 |
NUMBER OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 19,789,407,996 | 19,789,407,996 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholder's Deficit (USD $) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Dec. 31, 2012 | $1,750 | $13,852,585 | $11,433,491 | ($25,649,121) | ($361,295) |
Balance, shares at Dec. 31, 2012 | 2,500,000 | 19,789,407,996 | |||
Net loss | -51,817 | -51,817 | |||
Balance at Dec. 31, 2013 | 1,750 | 13,852,585 | 11,433,491 | -25,700,938 | -413,112 |
Balance, shares at Dec. 31, 2013 | 2,500,000 | 19,789,407,996 | |||
Net loss | -41,266 | -41,266 | |||
Balance at Dec. 31, 2014 | $1,750 | $13,852,585 | $11,433,491 | ($25,742,204) | ($454,378) |
Balance, shares at Dec. 31, 2014 | 2,500,000 | 19,789,407,996 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities: | ||
Net loss | ($41,266) | ($51,817) |
Changes in: | ||
Accounts payable and accrued liabilities | 4,792 | 6,847 |
Net cash from operating activities | -36,474 | -45,330 |
Cash flows from financing activities: | ||
Advances from affiliates | 15,000 | 45,330 |
Proceeds from convertible note payable | 21,474 | |
Change in cash | ||
Cash, beginning of year | ||
Cash, end of year |
Nature_of_Business
Nature of Business | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | (1) Nature of Business |
The consolidated financial statements include the accounts of World Health Energy Holdings, Inc. (“WHEH”) and its wholly owned subsidiary, World Health Energy, Inc. (“WHE”). | |
The Company’s corporate offices are located in New York City, New York. World Health Energy’s primary focus is the production of algae using their proprietary GB3000 growth system. The system quickly and efficiently grows algae for the production of biofuels and food protein. Though the Company has been successful in demonstrating the effectiveness of the GB3000 system on a small-scale the company has not yet been able to raise the necessary capital to implement their technologies on a commercial scale. The Company continues to pursue all available options for raising the necessary capital in addition to exploring alternative revenue sources. |
Basis_of_Presentation_and_Cons
Basis of Presentation and Consolidation | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Consolidation | (2) Basis of Presentation and Consolidation |
The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) on the accrual basis of accounting. All significant intercompany accounts and transactions have been eliminated in consolidation. The interim financial statements reflect all adjustments, which are, in the opinion of management, necessary in order to make the financial statements not misleading. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | (3) Significant Accounting Policies |
a) Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. | |
b) Loss per share | |
The Company has adopted Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 260-10-50, Earnings Per Share, which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents outstanding at December 31, 2014 or 2013. | |
c) Cash and Cash Equivalents | |
The Company considers all highly-liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents as of December 31, 2014 or 2013. | |
d) Property and Equipment | |
Property and equipment is stated at cost and was depreciated using the straight line method over the estimated useful lives of the respective assets of three years. Routine maintenance, repairs and replacement costs are expensed as incurred and improvements that extend the useful life of the assets are capitalized. When office equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recognized in operations. As of December 31, 2014 and 2013, all property and equipment was fully depreciated. | |
e) Revenue Recognition | |
The Company recognizes revenue on arrangements in accordance with Securities and Exchange Commission Staff Accounting Bulletin Topic 13, Revenue Recognition and FASB ASC 605-15-25, Revenue Recognition. In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and collectability is reasonably assured. The Company did not report any revenues during the years ended December 31, 2014 or 2013. | |
f) Income Taxes | |
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Additionally, the recognition of future tax benefits, such as net operating loss carry forwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. | |
In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities result in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. | |
The Company’s income tax returns are subject to examination by tax authorities. Generally, the statute of limitations related to the Company’s federal and state income tax return is three years from the date of filing. The state impact of any federal changes for prior years remains subject to examination for a period up to five years after formal notification to the states. | |
Management has evaluated tax positions in accordance with FASB ASC 740, Income Taxes, and has not identified any significant tax positions, other than those disclosed. | |
g) Subsequent Events | |
In accordance with FASB ASC 855, Subsequent Events, the Company evaluated subsequent events through May 13, 2015, the date the consolidated financial statements were available for issue. |
Going_Concern
Going Concern | 12 Months Ended |
Dec. 31, 2014 | |
Going Concern | |
Going Concern | (4) Going Concern |
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company’s financial position and operating results raise substantial doubt about the Company’s ability to continue as a going concern, as reflected by the net losses of $25,742,204 accumulated through December 31, 2014. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management is presently seeking to raise permanent equity capital in the capital markets to eliminate negative working capital and provide working capital. Failure to raise equity capital or secure some other form of long-term debt arrangement will cause the Company to further increase its negative working capital deficit and could result in the Company having to curtail or cease operations. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop business to a level where it will generate profits and cash flows from operations. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Income Tax Disclosure [Abstract] | |||||
Income Taxes | (5) Income Taxes | ||||
The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes as of December 31, 2014 and 2013 are as follows: | |||||
Income tax at federal statutory rate | 34 | % | |||
State tax, net of federal effect | 3.96 | % | |||
37.96 | % | ||||
Valuation allowance | (37.96 | )% | |||
Effective rate | 0 | % | |||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. | |||||
As of December 31, 2014 and 2013, the Company’s only significant deferred income tax asset was a cumulative estimated net tax operating loss of approximately $26 million that is available to offset future taxable income, if any, in future periods, subject to expiration and other limitations imposed by the Internal Revenue Service. Management has considered the Company’s operating losses incurred to date and believes that a full valuation allowance against the deferred tax assets is required as of December 31, 2014 and 2013. |
Related_Parties
Related Parties | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Parties | (6) Related Parties |
As of December 31, 2014 and 2013, the Company had $1,623 included in Due to affiliates in the accompanying consolidated balance sheets that is due to a stockholder. The amount is non-interest bearing and due upon demand. | |
As of December 31, 2014 and 2013, the Company had $59,157 included in Due to affiliates in the accompanying consolidated balance sheets that is due to a stockholder for amounts paid to certain vendors for services rendered. The amounts are non-interest bearing and due upon demand. | |
As of December 31, 2014 and 2013, the Company had $102,794 and $93,794, respectively, included in Due to affiliates in the accompanying consolidated balance sheets that is due to a stockholder and consultant of the Company for services rendered as a business advisor and for amounts paid to certain vendors for services rendered. The amounts are non-interest bearing and due upon demand. | |
As of December 31, 2014 and 2013, the Company had $64,000 and $58,000, respectively, included in Due to affiliates in the accompanying consolidated balance sheets that is due to a stockholder and consultant of the Company for services rendered as the Chief Executive Officer or the Company. The amounts are non-interest bearing and due upon demand. | |
As of December 31, 2014 and 2013, the Company had $117,598 included in Due to affiliates in the accompanying consolidated balance sheets that is due to a stockholder for amounts paid to certain vendors for services rendered. The amount is non-interest bearing and due upon demand. |
Convertible_Note_Payable
Convertible Note Payable | 12 Months Ended |
Dec. 31, 2014 | |
Debt Disclosure [Abstract] | |
Convertible Note Payable | (7) Convertible Note Payable |
During the year ended December 31, 2014, the Company entered into a convertible note payable with a third party for $21,474. The note is non-interest bearing and is convertible to common stock at $0.0001 per share (or the comparable rate following any share split or reverse split). The note has a maturity date of February 26, 2016, at which point the face value of the loan will be converted if not already done. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Use of Estimates | a) Use of Estimates |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. | |
Loss per Share | b) Loss per share |
The Company has adopted Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 260-10-50, Earnings Per Share, which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents outstanding at December 31, 2014 or 2013. | |
Cash and Cash Equivalents | c) Cash and Cash Equivalents |
The Company considers all highly-liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents as of December 31, 2014 or 2013. | |
Property and Equipment | d) Property and Equipment |
Property and equipment is stated at cost and was depreciated using the straight line method over the estimated useful lives of the respective assets of three years. Routine maintenance, repairs and replacement costs are expensed as incurred and improvements that extend the useful life of the assets are capitalized. When office equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recognized in operations. As of December 31, 2014 and 2013, all property and equipment was fully depreciated. | |
Revenue Recognition | e) Revenue Recognition |
The Company recognizes revenue on arrangements in accordance with Securities and Exchange Commission Staff Accounting Bulletin Topic 13, Revenue Recognition and FASB ASC 605-15-25, Revenue Recognition. In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and collectability is reasonably assured. The Company did not report any revenues during the years ended December 31, 2014 or 2013. | |
Income Taxes | f) Income Taxes |
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Additionally, the recognition of future tax benefits, such as net operating loss carry forwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. | |
In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities result in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. | |
The Company’s income tax returns are subject to examination by tax authorities. Generally, the statute of limitations related to the Company’s federal and state income tax return is three years from the date of filing. The state impact of any federal changes for prior years remains subject to examination for a period up to five years after formal notification to the states. | |
Management has evaluated tax positions in accordance with FASB ASC 740, Income Taxes, and has not identified any significant tax positions, other than those disclosed. | |
Subsequent Events | g) Subsequent Events |
In accordance with FASB ASC 855, Subsequent Events, the Company evaluated subsequent events through May 13, 2015, the date the consolidated financial statements were available for issue. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Income Tax Disclosure [Abstract] | |||||
Schedule of Difference between Income Taxes Computed At Federal Statutory Rate and Provision for Income Taxes | The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes as of December 31, 2014 and 2013 are as follows: | ||||
Income tax at federal statutory rate | 34 | % | |||
State tax, net of federal effect | 3.96 | % | |||
37.96 | % | ||||
Valuation allowance | (37.96 | )% | |||
Effective rate | 0 | % |
Significant_Accounting_Policie2
Significant Accounting Policies (Details Narrative) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Accounting Policies [Abstract] | ||
Common stock equivalents outstanding | ||
Cash equivalents | ||
Property and equipment, estimated useful life | 3 years | |
Revenues | ||
Federal and state income tax return, period from date of filing | 3 years | |
State impact of federal changes for prior years, period after formal notification | 5 years |
Going_Concern_Details_Narrativ
Going Concern (Details Narrative) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Going Concern | ||
Accumulated loss | $25,742,204 | $25,700,938 |
Income_Taxes_Details_Narrative
Income Taxes (Details Narrative) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carry- forwards | $26,000,000 | $26,000,000 |
Income_Taxes_Schedule_of_Diffe
Income Taxes - Schedule of Difference between Income Taxes Computed At Federal Statutory Rate and Provision for Income Taxes (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ||
Income tax at federal statutory rate | 34.00% | 34.00% |
State tax, net of federal effect | 3.96% | 3.96% |
Net income and state tax | 37.96% | 37.96% |
Valuation allowance | -37.96% | -37.96% |
Effective rate | 0.00% | 0.00% |
Related_Parties_Details_Narrat
Related Parties (Details Narrative) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Due to affiliates | $345,172 | $330,172 |
Stockholder One [Member] | ||
Due to affiliates | 1,623 | 1,623 |
Vendor One [Member] | ||
Due to affiliates | 59,157 | 59,157 |
Vendor Two [Member] | ||
Due to affiliates | 102,794 | 93,794 |
Chief Executive Officer [Member] | ||
Due to affiliates | 64,000 | 58,000 |
Vendor Three [Member] | ||
Due to affiliates | $117,598 | $117,598 |
Convertible_Note_Payable_Detai
Convertible Note Payable (Details Narrative) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ||
Proceeds from convertible note payable with a third party | $21,474 | |
Conversion of convertible debt to common stock, per share | 0.0001 | |
Convertible note payable, maturity date | 26-Feb-16 |