Document_and_Entity_Informatio
Document and Entity Information (USD $) | 3 Months Ended | |
Mar. 31, 2015 | 15-May-15 | |
Document and Entity Information: | ||
Entity Registrant Name | Baynon International Corporation | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Amendment Flag | FALSE | |
Entity Central Index Key | 1089598 | |
Current Fiscal Year End Date | -19 | |
Entity Common Stock, Shares Outstanding | 43,465,233 | |
Entity Public Float | $0 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | Yes | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 |
Baynon_International_Corp_Bala
Baynon International Corp. - Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $6,123 | $8,021 |
TOTAL CURRENT ASSETS | 6,123 | 8,021 |
TOTAL ASSETS | 6,123 | 8,021 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 30,641 | 27,419 |
Convertible notes payable - stockholder | 0 | 50,000 |
Accrued interest - stockholder | 0 | 8,186 |
TOTAL CURRENT LIABILITIES | 30,641 | 85,605 |
STOCKHOLDERS' DEFICIENCY: | ||
Common stock, par value $.001, authorized 50,000,000 shares, issued and outstanding 43,465,233 at March 31, 2015 and 38,772,192 shares at December 31, 2014 | 43,465 | 38,772 |
Additional paid-in capital | 309,905 | 255,936 |
Accumulated deficit | -377,888 | -372,292 |
TOTAL STOCKHOLDERS' DEFICIENCY | -24,518 | -77,584 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | $6,123 | $8,021 |
Baynon_International_Corp_Bala1
Baynon International Corp. - Balance Sheets (Parantheticals)(USD $) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position | ||
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 43,465,233 | 38,772,192 |
Common stock, shares outstanding | 43,465,233 | 38,772,192 |
Baynon_International_Corp_Stat
Baynon International Corp. - Statements of Operations (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Statement | ||
Revenues | $0 | $0 |
Cost of revenue | 0 | 0 |
Gross profit | 0 | 0 |
Other Costs: | ||
General and administrative expenses | 5,122 | 5,275 |
Total Other Costs | 5,122 | 5,275 |
Operating loss | -5,122 | -5,275 |
Other Income (Expense): | ||
Interest income | 2 | 5 |
Interest expense - stockholder | -476 | -740 |
Total Other Income (Expense) | -474 | -735 |
Net Loss | ($5,596) | ($6,010) |
Loss per share: | ||
Basic and diluted earnings (loss) per common share | $0 | $0 |
Basic and diluted common shares outstanding | 40,440,829 | 38,772,192 |
Baynon_International_Corp_Stat1
Baynon International Corp. - Statements of Cash Flows (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from Operating Activities: | ||
Net Loss | ($5,596) | ($6,010) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Accrued interest for common stock | 476 | 0 |
Increase in accounts payable and accrued expenses | 3,222 | 3,325 |
Increase in accrued interest - stockholder | 0 | 740 |
Net cash used in operating activities | -1,898 | -1,945 |
Decrease in Cash and Cash Equivalents | -1,898 | -1,945 |
CASH AND CASH EQUIVALENTS - beginning of period | 8,021 | 19,982 |
CASH AND CASH EQUIVALENTS - end of period | 6,123 | 18,037 |
Schedule of Non-cash Activities: | ||
Common stock issued for note payable | 50,000 | 0 |
Common stock issued for accrued interest | 8,662 | 0 |
Cash paid during period for: | ||
Income taxes | 500 | 500 |
Interest | $0 | $0 |
The_Company
The Company | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
The Company | 1. THE COMPANY |
Baynon International Corp. formerly known as Technology Associates Corporation (the “Company”), was originally incorporated on February 29, 1968 under the laws of the Commonwealth of Massachusetts to engage in any lawful corporate undertaking. On December 28, 1989, the Company reincorporated under the laws of the State of Nevada. The Company was formerly engaged in the technology marketing business and its securities traded on the National Association of Securities Dealers OTC Bulletin Board. The Company has not engaged in any business operations for at least the last eleven fiscal years and has no operations to date. | |
The Company will attempt to identify and negotiate with a business target for the merger of that entity with and into the Company. In certain instances, a target company may wish to become a subsidiary of the company or wish to contribute assets to the Company rather than merge. | |
No assurance can be given that the Company will be successful in identifying or negotiating with any target company. The Company provides a means for a foreign or domestic private company to become a reporting (public) company whose securities would be qualified for trading in the United States secondary market. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended | ||
Mar. 31, 2015 | |||
Notes | |||
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Interim Presentation | |||
The December 31, 2014 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of March 31, 2015, its results of operations for the three months ended March 31, 2015 and 2014 and its cash flows for the three months ended March 31, 2015 and 2014. | |||
The statements of operations for the three months ended March 31, 2015 and 2014 are not necessarily indicative of the results for the full year. | |||
While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company’s annual Report on Form 10-K for the year ended December 31, 2014. | |||
Loss Per Share | |||
The Company computes loss per share in accordance with FASB ASC 260, “Earnings Per Share”. Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock. Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the three months ended March 31, 2015 and 2014 as their effect would be anti-dilutive: | |||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||
Convertible note payable and accrued interest - stockholder (weighted average) | $0 | $4,474,082 | |
Going Concern | |||
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $(377,888) at March 31, 2015. The Company has no revenue generating operations and has limited cash resources. These factors raise substantial doubt about the ability of the Company to continue as a going concern. | |||
Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company’s obligations through March 31, 2016 by obtaining additional financing from key officers, directors and certain investors. However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. | |||
Fair Value of Financial Instruments | |||
The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments. | |||
Recently Issued Accounting Standards | |||
Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. |
3_Convertible_Note_Payable_Sto
3. Convertible Note Payable - Stockholder | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
3. Convertible Note Payable - Stockholder | 3. CONVERTIBLE NOTE PAYABLE - STOCKHOLDER |
On April 10, 2012, the Company issued an unsecured convertible note payable to a stockholder in exchange for $50,000 in cash for the Company’s working capital needs. The note bore interest at 6% per annum and matured on April 10, 2013. The stockholder had the option to convert the note and accrued interest into the Company’s common stock at $.0125 per share. | |
On April 10, 2013 and April 10, 2014 the note was extended for an additional twelve months. The note bore interest at 6% per annum. The stockholder had the option to convert the note and accrued interest into the Company’s common stock at $.0125 per share. On February 27, 2015 the stockholder exercised his option to convert the note and accrued interest to common stock. The note and accrued interest thereon were converted into 4,693,041 shares of the Company’s common stock. | |
At March 31, 2015 and December 31, 2014, accrued interest on the notes was $0 and $8,186, respectively. Interest expense amounted to $476 and $740 for the three months ended March 31, 2015 and 2014, respectively. |
4_Common_Stock
4. Common Stock | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
4. Common Stock | 4. COMMON STOCK |
On February 27, 2015, the Company’s board of directors approved the issuance of 4,693,041 shares of common stock upon a stockholder exercising his option to convert a note payable and accrue interest at $.0125 per share. |
5_Subsequent_Events
5. Subsequent Events | 3 Months Ended |
Mar. 31, 2015 | |
Notes | |
5. Subsequent Events | 5. SUBSEQUENT EVENTS |
The Company has evaluated subsequent events through the date this filing. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies: Interim Presentation (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Interim Presentation | Interim Presentation |
The December 31, 2014 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of March 31, 2015, its results of operations for the three months ended March 31, 2015 and 2014 and its cash flows for the three months ended March 31, 2015 and 2014. | |
The statements of operations for the three months ended March 31, 2015 and 2014 are not necessarily indicative of the results for the full year. | |
While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company’s annual Report on Form 10-K for the year ended December 31, 2014. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies: Loss Per Share (Policies) | 3 Months Ended | ||
Mar. 31, 2015 | |||
Policies | |||
Loss Per Share | Loss Per Share | ||
The Company computes loss per share in accordance with FASB ASC 260, “Earnings Per Share”. Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock. Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the three months ended March 31, 2015 and 2014 as their effect would be anti-dilutive: | |||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||
Convertible note payable and accrued interest - stockholder (weighted average) | $0 | $4,474,082 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies: Going Concern (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Going Concern | Going Concern |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $(377,888) at March 31, 2015. The Company has no revenue generating operations and has limited cash resources. These factors raise substantial doubt about the ability of the Company to continue as a going concern. | |
Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company’s obligations through March 31, 2016 by obtaining additional financing from key officers, directors and certain investors. However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments |
The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments. |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Policies | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards |
Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies: Loss Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables) | 3 Months Ended | ||
Mar. 31, 2015 | |||
Tables/Schedules | |||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | |||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||
Convertible note payable and accrued interest - stockholder (weighted average) | $0 | $4,474,082 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies: Loss Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Details | ||
Increase (Decrease) in Notes Payable, Related Parties | $0 | $4,474,082 |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies: Going Concern (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Details | ||
Accumulated deficit | ($377,888) | ($372,292) |
3_Convertible_Note_Payable_Sto1
3. Convertible Note Payable - Stockholder (Details) (USD $) | 3 Months Ended | |||||
Mar. 31, 2015 | Mar. 31, 2014 | Feb. 27, 2015 | Dec. 31, 2014 | Apr. 10, 2013 | Apr. 10, 2012 | |
Details | ||||||
Proceeds from convertible note payable | $50,000 | |||||
Accounts Payable, Interest-bearing, Interest Rate | 6.00% | 6.00% | ||||
Debt Instrument, Convertible, Conversion Price | $0.01 | $0.01 | ||||
Common stock, shares issued | 43,465,233 | 4,693,041 | 38,772,192 | |||
Interest Payable, Current | 0 | 8,186 | ||||
Interest Expense | $476 | $740 |
4_Common_Stock_Details
4. Common Stock (Details) (USD $) | Mar. 31, 2015 | Feb. 27, 2015 | Dec. 31, 2014 | Apr. 10, 2012 |
Details | ||||
Common stock, shares issued | 43,465,233 | 4,693,041 | 38,772,192 | |
Debt Instrument, Convertible, Conversion Price | $0.01 | $0.01 |