$BASA
BASANITE, INC.

2015 Q2 Form 10-Q Financial Statement

#000155335015000531 Filed on May 20, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $5.004K $16.69K $2.448K
YoY Change 745.27% 581.7% -58.4%
Cost Of Revenue $4.368K $15.83K
YoY Change
Gross Profit $636.00 $862.00 $2.448K
YoY Change 7.43% -64.79%
Gross Profit Margin 12.71% 5.17% 100.0%
Selling, General & Admin $6.429K $9.795K $382.1K
YoY Change -51.65% -97.44% 752.18%
% of Gross Profit 1010.85% 1136.31% 15609.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $187.00 $187.00 $305.00
YoY Change -38.69% -38.69% -87.13%
% of Gross Profit 29.4% 21.69% 12.46%
Operating Expenses $84.80K $134.7K $479.7K
YoY Change -46.51% -71.91% 25.61%
Operating Profit -$84.17K -$133.9K -$477.3K
YoY Change -46.71% -71.95% 26.92%
Interest Expense $80.53K $54.93K $169.3K
YoY Change -30.53% -67.56% 209.27%
% of Operating Profit
Other Income/Expense, Net -$79.05K -$53.45K -$169.3K
YoY Change -31.81% -68.43% 209.27%
Pretax Income -$163.2K -$187.3K -$646.6K
YoY Change -40.4% -71.03% 50.1%
Income Tax
% Of Pretax Income
Net Earnings -$163.2K -$187.3K -$646.6K
YoY Change -40.4% -71.03% 50.1%
Net Earnings / Revenue -3261.69% -1122.55% -26412.79%
Basic Earnings Per Share
Diluted Earnings Per Share -$12.69K -$15.07K -$116.7K
COMMON SHARES
Basic Shares Outstanding 12.61M shares 12.61M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00K $10.00K $0.00
YoY Change 0.0% -100.0%
Cash & Equivalents $8.086K $7.647K $1.149K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.086K $13.70K $1.149K
YoY Change 11.76% 1092.17% -96.88%
LONG-TERM ASSETS
Property, Plant & Equipment $655.00 $842.00 $2.311K
YoY Change -67.35% -63.57% -75.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00K $0.00
YoY Change
Total Long-Term Assets $655.00 $85.60K $2.311K
YoY Change -67.35% 3604.11% -83.2%
TOTAL ASSETS
Total Short-Term Assets $8.086K $13.70K $1.149K
Total Long-Term Assets $655.00 $85.60K $2.311K
Total Assets $8.741K $99.30K $3.460K
YoY Change -5.41% 2769.94% -93.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $250.0K $199.6K $213.3K
YoY Change 10.86% -6.39% 256.63%
Accrued Expenses $690.0K $688.7K $782.4K
YoY Change -20.0% -11.98% 191.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $260.0K $270.0K $890.0K
YoY Change -74.26% -69.66% 345.0%
Total Short-Term Liabilities $1.197M $1.165M $1.890M
YoY Change -43.05% -38.38% 254.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.197M $1.165M $1.890M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.200M $1.160M $1.890M
YoY Change -42.86% -38.62% 256.6%
SHAREHOLDERS EQUITY
Retained Earnings -$7.687M -$7.524M -$6.556M
YoY Change 12.54% 14.76% 67.8%
Common Stock $12.61K $12.61K $5.573K
YoY Change 126.32% 126.32% -92.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.188M -$1.065M -$1.887M
YoY Change
Total Liabilities & Shareholders Equity $8.741K $99.30K $3.460K
YoY Change -5.41% 2769.94% -93.16%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$163.2K -$187.3K -$646.6K
YoY Change -40.4% -71.03% 50.1%
Depreciation, Depletion And Amortization $187.00 $187.00 $305.00
YoY Change -38.69% -38.69% -87.13%
Cash From Operating Activities -$40.00K -$110.2K -$69.94K
YoY Change -42.86% 57.49% -72.45%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$80.00K
YoY Change
Cash From Investing Activities $0.00 -$84.76K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.00K $201.0K $68.03K
YoY Change -42.86% 195.45% -74.8%
NET CHANGE
Cash From Operating Activities -40.00K -$110.2K -$69.94K
Cash From Investing Activities 0.000 -$84.76K
Cash From Financing Activities 40.00K $201.0K $68.03K
Net Change In Cash -0.00000000001455 $6.089K -$1.912K
YoY Change -418.46% -111.86%
FREE CASH FLOW
Cash From Operating Activities -$40.00K -$110.2K -$69.94K
Capital Expenditures
Free Cash Flow
YoY Change

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>NOTE 3 &#150; RECENT ACCOUNTING PRONOUNCEMENTS</strong></font></p> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</font></p> <p style="margin: 0pt; page-break-inside: avoid; text-indent: 22.75pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">In April 2015, FASB issued Accounting Standards Update (&#147;ASU&#148;) No. 2015-03, &#147;</font><i style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Interest &#150; Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs&#148;</i><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">, is to simplify presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The ASU does not affect the recognition and measurement guidance for debt issuance costs. For public companies, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.</font></font></p> <p style="margin: 0pt; page-break-inside: avoid; text-indent: 22.75pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>&#160;</strong></font></p> <p style="margin: 0pt; page-break-inside: avoid; text-indent: 22.75pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">In April 2015, FASB issued Accounting Standards Update (&#147;ASU&#148;) No. 2015-04, &#147;</font><i style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Compensation &#150; Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer's Defined Benefit Obligation and Plan Assets&#148;</i><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">, permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity's fiscal year-end and apply that practical expedient consistently from year to year. The ASU is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.</font></font></p> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</font></p> <p style="margin: 0pt; page-break-inside: avoid; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">In April 2015, FASB issued Accounting Standards Update (&#147;ASU&#148;) No. 2015-05, &#147;</font><i style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Intangibles &#150; Goodwill and Other &#150; Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement&#148;</i><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">, provides guidance to customers about whether a cloud computing arrangement includes a software license. If such an arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for it as a service contract. For public business entities, the ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition</font></font></p> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</font></p> <p style="margin: 0pt; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">In April 2015, FASB issued Accounting Standards Update (&#147;ASU&#148;) No. 2015-06, &#147;</font><i style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions&#148;</i><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">, specifies that, for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a drop down transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.</font></font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</font>&#160;</p> <p style="margin: 0pt; page-break-inside: avoid; text-indent: 22.75pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">All other newly issued accounting pronouncements but not yet effective have been deemed either immaterial or not applicable.</font></p> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</font></p> </div>
CY2013Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
195000000 shares
CY2014Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
400000 shares
CY2014Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
88000 USD
CY2014Q3 paym Stock Issued During Period Per Share Value
StockIssuedDuringPeriodPerShareValue
0.22
CY2015Q1 paym Monthly Agreement Payable
MonthlyAgreementPayable
7500 USD
us-gaap Technology Services Costs
TechnologyServicesCosts
80748 USD
CY2015Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
50000 shares
CY2015Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
17500 USD
CY2015Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.35
CY2015Q1 us-gaap Security Deposit
SecurityDeposit
31407 USD
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12610679 shares
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5572688 shares
CY2015Q1 paym Default On Lease Contract Amount
DefaultOnLeaseContractAmount
41937 USD
CY2015Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
376424 USD
CY2015Q1 paym Financial Advisory Agreement Initial Term
FinancialAdvisoryAgreementInitialTerm
P4M
CY2015Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
99 USD
CY2011Q1 us-gaap Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
301296 shares
CY2011Q1 paym Business Acquisition Percentage Of Voting Interests Issued And Outstanding
BusinessAcquisitionPercentageOfVotingInterestsIssuedAndOutstanding
0.501 pure
CY2015Q1 paym Working Capital
WorkingCapital
1151098 USD
CY2015Q1 us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P39M
CY2015Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
9900 USD
CY2015Q1 paym Number Of Months Required For Timely Payments
NumberOfMonthsRequiredForTimelyPayments
P36M
CY2015Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
12442 USD
CY2015Q1 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
388866 USD
CY2015Q1 paym Financial Advisory Agreement Nonrefundable Consulting Fee
FinancialAdvisoryAgreementNonrefundableConsultingFee
15000 USD
CY2015Q1 paym Financial Advisory Agreement Initial Monthly Consulting Fee
FinancialAdvisoryAgreementInitialMonthlyConsultingFee
2500 USD
CY2015Q1 paym Financial Advisory Agreement Minimum New Funding For Raise In Monthly Consulting Fee
FinancialAdvisoryAgreementMinimumNewFundingForRaiseInMonthlyConsultingFee
500000 USD
CY2015Q1 paym Financial Advisory Agreement Contingent Monthly Consulting Fee
FinancialAdvisoryAgreementContingentMonthlyConsultingFee
5000 USD
CY2015Q1 paym Financial Advisory Agreement Cash Closing Fee Minimum Percentage
FinancialAdvisoryAgreementCashClosingFeeMinimumPercentage
0.06 pure
CY2015Q1 paym Financial Advisory Agreement Cash Closing Fee Maximum Percentage
FinancialAdvisoryAgreementCashClosingFeeMaximumPercentage
0.075 pure
CY2015Q1 paym Financial Advisory Agreement Fee Mezzanine Debt Transactions Consulting Fee Percentage
FinancialAdvisoryAgreementFeeMezzanineDebtTransactionsConsultingFeePercentage
0.05 pure
CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2448 USD
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
16589 USD
CY2014Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
16688 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
2448 USD
CY2015Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
15826 USD
CY2014Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
USD
CY2015Q1 us-gaap Gross Profit
GrossProfit
862 USD
CY2014Q1 us-gaap Gross Profit
GrossProfit
2448 USD
CY2015Q1 us-gaap Professional Fees
ProfessionalFees
29111 USD
CY2014Q1 us-gaap Professional Fees
ProfessionalFees
6351 USD
CY2015Q1 us-gaap Marketing Expense
MarketingExpense
1490 USD
CY2014Q1 us-gaap Marketing Expense
MarketingExpense
11247 USD
CY2015Q1 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
50939 USD
CY2014Q1 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
79847 USD
CY2015Q1 us-gaap Technology Services Costs
TechnologyServicesCosts
17211 USD
CY2014Q1 us-gaap Technology Services Costs
TechnologyServicesCosts
8088 USD
CY2015Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
3762 USD
CY2014Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
3305 USD
CY2015Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
23924 USD
CY2014Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
USD
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8305 USD
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
370877 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
134742 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
479715 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-133880 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-477267 USD
CY2015Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1483 USD
CY2015Q1 us-gaap Interest Expense
InterestExpense
54934 USD
CY2014Q1 us-gaap Interest Expense
InterestExpense
169318 USD
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-53451 USD
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-169318 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-646585 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-187331 USD
CY2014Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
USD
CY2014Q3 paym Term Of Consulting Agreement
TermOfConsultingAgreement
P6M
CY2015Q1 paym Monthly Consultant Fee
MonthlyConsultantFee
7500 USD
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28522 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28522 USD
CY2015Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27680 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27493 USD
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><strong>(B) Use of Estimates in Financial Statements</strong></font></p> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</font></p> <p style="margin: 0pt; page-break-inside: avoid; text-indent: 17.05pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 from those estimates. Significant estimates during the period covered by these financial statements include the valuation of website costs, valuation of deferred tax asset, stock based compensation and any beneficial conversion features on convertible debt.</font></p> </div>
CY2015Q1 us-gaap Reclassifications
Reclassifications
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; text-decoration: underline;"><strong>(N) Reclassification</strong></font></p> <p style="margin: 0pt; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</font></p> <p style="margin: 0pt; page-break-inside: avoid; text-indent: 17.05pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Certain amounts from prior periods have been reclassified to conform to the current period presentation.</font></p> </div>
CY2015Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
460573 USD
CY2014Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
277073 USD

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