Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 31, 2016 | Jun. 30, 2015 | |
Document and Entity Information: | |||
Entity Registrant Name | Baynon International Corp. | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Trading Symbol | bayn | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,089,598 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 43,465,233 | ||
Entity Public Float | $ 85,024 | ||
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 | 2,015 | ||
Document Fiscal Period Focus | FY |
Baynon International Corp. - Ba
Baynon International Corp. - Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 3,792 | $ 8,021 |
TOTAL CURRENT ASSETS | 3,792 | 8,021 |
TOTAL ASSETS | 3,792 | 8,021 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 26,009 | 27,419 |
Convertible notes payable - stockholder | 25,000 | 50,000 |
Accrued interest - stockholder | 937 | 8,186 |
TOTAL CURRENT LIABILITIES | 51,946 | 85,605 |
STOCKHOLDERS' DEFICIENCY: | ||
Common stock, par value $.001, authorized 50,000,000 shares, issued and outstanding 43,465,233 at December 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 | (401,524) | (372,292) |
TOTAL STOCKHOLDERS' DEFICIENCY | (48,154) | (77,584) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | $ 3,792 | $ 8,021 |
Baynon International Corp. - St
Baynon International Corp. - Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement | ||
Revenues | $ 0 | $ 0 |
Cost of revenue | 0 | 0 |
Gross profit | 0 | 0 |
Other Costs: | ||
General and administrative expenses | 27,828 | 26,608 |
Total Other Costs | 27,828 | 26,608 |
Operating loss | (27,828) | (26,608) |
Other Income (Expense): | ||
Interest income | 9 | 16 |
Interest expense - stockholder | (1,413) | (3,000) |
Total Other Income (Expense) | (1,404) | (2,984) |
Net Loss | $ (29,232) | $ (29,592) |
Loss per share: | ||
Basic and diluted earnings (loss) per common share | $ 0 | $ 0 |
Basic and diluted common shares outstanding | 42,719,490 | 38,772,192 |
Baynon International Corp - Sta
Baynon International Corp - Statement of Stockholders' Deficiency - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Common Stock | ||
Net loss for the period | $ 0 | $ 0 |
Additional Paid-in Capital | ||
Net loss for the period | 0 | 0 |
Accumulated Deficit | ||
Net loss for the period | (29,232) | (29,592) |
Total Stockholders' Equity | ||
Net loss for the period | $ (29,232) | $ (29,592) |
Baynon International Corp. - S5
Baynon International Corp. - Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from Operating Activities: | ||
Net Loss | $ (29,232) | $ (29,592) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
(Decrease) increase in accounts payable and accrued expenses | (1,410) | 14,631 |
Net cash used in operating activities | (29,229) | (11,961) |
Cash flows from Financing Activities: | ||
Proceeds from related party note payable | 25,000 | 0 |
Net cash provided by financing activities | 25,000 | 0 |
Decrease in Cash and Cash Equivalents | (4,229) | (11,961) |
CASH AND CASH EQUIVALENTS - beginning of period | 8,021 | 19,982 |
CASH AND CASH EQUIVALENTS - end of period | $ 3,792 | $ 8,021 |
Baynon International Corp. - B6
Baynon International Corp. - Balance Sheets (Parentheticals)(USD $) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
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 |
1. The Company
1. The Company | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
1. 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 twelve fiscal years. 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. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
2. Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Companys financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. Use of Estimates These financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. The Company continually evaluates the accounting policies and estimates used to prepare the financial statements. The Company bases its estimates on historical experiences and assumptions believed to be reasonable under current facts and circumstances. Actual amounts and results could differ from these estimates made by management. Cash and Cash Equivalents Short-term investments with an original maturity of ninety days or less and highly liquid investments are considered cash and cash equivalents. Cash and cash equivalents consist of a money market account. Income Taxes The Company utilizes the Financial Accounting Standards Boards (FASB) Accounting Standards Codification (ASC 740), Income Tax. ASC 740 requires the recognition of deferred tax assets and liabilities for the expected future tax consequence of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities using enacting tax rates in effect in the years in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company has adopted the provision of FASB ASC 740-10-05, Accounting for Uncertainties in Income Taxes. The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprises financial statements. The ASC prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The ASC provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Loss Per Share The Company computes earnings or loss per share in accordance with the 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 net income per share, as their effect would be anti-dilutive: Year ended December 31, 2015 Year ended December 31, 2014 Convertible note payable and accrued interest - stockholder (weighted average) 2,074,959 4,654,904 Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Companys recurring losses from operations, stockholders deficiency, working capital deficiency, and lack of revenue generating operations, raise substantial doubt about the ability of the Company to continue as a going concern. Management believes the Company will continue to incur losses and negative cash flows from operating activities for the foreseeable future and will need additional equity or debt financing to sustain its operations until it can achieve profitability and positive cash flows, if ever. Management plans to seek additional debt and/or equity financing for the Company, but cannot assure that such financing will be available on acceptable terms. The Companys continuation as a going concern is dependent upon its ability to ultimately attain profitable operations, generate sufficient cash flow to meet its obligations, and obtain additional financing as may be required. The outcome of this uncertainty cannot be assured. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. There can be no assurance that management will be successful in implementing its business plan or that the successful implementation of such business plan will actually improve the Companys operating results. Fair Value of Financial Instruments The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable and accrued expenses, convertible notes payable - stockholder and accrued interest - stockholder approximate fair value based on the short-term maturity of these instruments. Recently Issued Accounting Standards Management does not believe that any other recently issued, but not yet effective, accounting standard if currently adopted would have a material effect on the accompanying financial statements. |
3. Convertible Note Payable - S
3. Convertible Note Payable - Stockholder | 12 Months Ended |
Dec. 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 Companys 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 Companys 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 and matured on April 10, 2015. The stockholder had the option to convert the note and accrued interest into the Companys 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 Companys common stock. On May 18, 2015, the Company issued an unsecured convertible note payable to a stockholder in exchange for $25,000 in cash for the Companys working capital needs. The note bears interest at 6% per annum and matured on May 18, 2016. The stockholder has the option to convert the note and accrued interest into the Companys common stock at $.0125 per share. At December 31, 2015 and 2014, convertible note payable stockholder was $25,000 and $50,000, respectively. At December 31, 2015 and 2014, accrued interest on the notes were $937 and $8,186, respectively. Interest expense amounted to $(1,413) and $(3,000) for the years ended December 31, 2015 and 2014, respectively. |
4. Common Stock
4. Common Stock | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
4. Common Stock | 4. COMMON STOCK On September 19, 2013, the Companys board of directors approved the increase in the number of authorized shares from 50,000,000 to 100,000,000. The increase will enable the Company to raise additional capital in the future. The Company has begun the process necessary to increase the number of authorized shares, but to date, has not yet completed the process. On February 27, 2015, the Companys 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 accrued interest at $.0125 per share. Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights. Holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the Board of Director in its discretion from funds legally available therefore. In the event of liquidation, dissolution or winding up of the Company, the holders of common stock are entitled to share pro rata in all assets remaining after payment in full of all liabilities. All of the outstanding shares of common stock are fully paid and non-assessable. Holders of common stock have no preemptive rights to purchase the Companys common stock. There are no conversions or redemption rights or sinking fund provisions with respect to the common stock. |
5. Income Taxes
5. Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
5. Income Taxes | 5. INCOME TAXES The components of deferred tax assets at December 31, 2015 and 2014 are as follows: December 31, 2015 December 31, 2014 Net operating loss carry forwards $ 144,176 $130,200 Accrued interest 324 2,700 144,500 132,900 Less: - Valuation allowance (144,500) (132,900) Total $ 0 $ 0 A 100% valuation allowance was provided at December 31, 2015 and 2014 as it is uncertain if the deferred tax assets would be utilized. The increase in the valuation allowance was a result from the increase in the Companys net operating loss carry forward and accrued interest. At December 31, 2015, the Company has unused federal net operating loss carry forwards of approximately $390,000 expiring between 2018 and 2035 and unused New Jersey net operating loss carry forwards of approximately $171,000 expiring between 2029 and 2035. The Company files its federal and New Jersey income tax returns under varying statutes of limitations. The 2012 through 2015 tax years generally remain subject to examination by the federal and New Jersey tax authorities. |
6. Subsequent Events
6. Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Notes | |
6. Subsequent Events | 6. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date of this filing. |
2. Summary of Significant Acc13
2. Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Basis of Presentation | Basis of Presentation The Companys financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. |
2. Summary of Significant Acc14
2. Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Use of Estimates | Use of Estimates These financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. The Company continually evaluates the accounting policies and estimates used to prepare the financial statements. The Company bases its estimates on historical experiences and assumptions believed to be reasonable under current facts and circumstances. Actual amounts and results could differ from these estimates made by management. |
2. Summary of Significant Acc15
2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents Short-term investments with an original maturity of ninety days or less and highly liquid investments are considered cash and cash equivalents. Cash and cash equivalents consist of a money market account. |
2. Summary of Significant Acc16
2. Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Income Taxes | Income Taxes The Company utilizes the Financial Accounting Standards Boards (FASB) Accounting Standards Codification (ASC 740), Income Tax. ASC 740 requires the recognition of deferred tax assets and liabilities for the expected future tax consequence of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities using enacting tax rates in effect in the years in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company has adopted the provision of FASB ASC 740-10-05, Accounting for Uncertainties in Income Taxes. The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprises financial statements. The ASC prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The ASC provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. |
2. Summary of Significant Acc17
2. Summary of Significant Accounting Policies: Loss Per Share (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Loss Per Share | Loss Per Share The Company computes earnings or loss per share in accordance with the 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 net income per share, as their effect would be anti-dilutive: Year ended December 31, 2015 Year ended December 31, 2014 Convertible note payable and accrued interest - stockholder (weighted average) 2,074,959 4,654,904 |
2. Summary of Significant Acc18
2. Summary of Significant Accounting Policies: Going Concern (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Going Concern | Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Companys recurring losses from operations, stockholders deficiency, working capital deficiency, and lack of revenue generating operations, raise substantial doubt about the ability of the Company to continue as a going concern. Management believes the Company will continue to incur losses and negative cash flows from operating activities for the foreseeable future and will need additional equity or debt financing to sustain its operations until it can achieve profitability and positive cash flows, if ever. Management plans to seek additional debt and/or equity financing for the Company, but cannot assure that such financing will be available on acceptable terms. The Companys continuation as a going concern is dependent upon its ability to ultimately attain profitable operations, generate sufficient cash flow to meet its obligations, and obtain additional financing as may be required. The outcome of this uncertainty cannot be assured. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. There can be no assurance that management will be successful in implementing its business plan or that the successful implementation of such business plan will actually improve the Companys operating results. |
2. Summary of Significant Acc19
2. Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Dec. 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 and accrued expenses, convertible notes payable - stockholder and accrued interest - stockholder approximate fair value based on the short-term maturity of these instruments. |
2. Summary of Significant Acc20
2. Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Policies | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards Management does not believe that any other recently issued, but not yet effective, accounting standard if currently adopted would have a material effect on the accompanying financial statements. |
2. Summary of Significant Acc21
2. Summary of Significant Accounting Policies: Loss Per Share: Schedule of securities that have been excluded from the calculation of net income per share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Tables/Schedules | |
Schedule of securities that have been excluded from the calculation of net income per share | Year ended December 31, 2015 Year ended December 31, 2014 Convertible note payable and accrued interest - stockholder (weighted average) 2,074,959 4,654,904 |
2. Summary of Significant Acc22
2. Summary of Significant Accounting Policies: Loss Per Share: Schedule of securities that have been excluded from the calculation of net income per share (Details) - shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Details | ||
Convertible note payable and accrued interest - stockholder (weighted average) | 2,074,959 | 4,654,904 |
3. Convertible Note Payable -23
3. Convertible Note Payable - Stockholder (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | May. 18, 2015 | Feb. 27, 2015 | Apr. 10, 2012 | |
Details | |||||
Value of convertible note payable issued to related party | $ 25,000 | $ 50,000 | |||
Value per share of convertible note payable issued to related party upon conversion | $ 0.0125 | $ 0.0125 | $ 0.0125 | ||
Shares issued upon conversion of convertible note and accrued interest | 4,693,041 | ||||
Convertible notes payable - stockholder | $ 25,000 | $ 50,000 | |||
Accrued interest - stockholder | 937 | 8,186 | |||
Interest expense - stockholder | $ (1,413) | $ (3,000) |
4. Common Stock (Details)
4. Common Stock (Details) - USD ($) | May. 18, 2015 | Feb. 27, 2015 | Apr. 10, 2012 |
Details | |||
Shares issued upon conversion of convertible note and accrued interest | 4,693,041 | ||
Value per share of convertible note payable issued to related party upon conversion | $ 0.0125 | $ 0.0125 | $ 0.0125 |
5. Income Taxes (Details)
5. Income Taxes (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Details | ||
Net operating loss carry forwards | $ 144,176 | $ 130,200 |
Income Tax Examination, Interest Accrued | 324 | 2,700 |
Less: - Valuation allowance | (144,500) | (132,900) |
Deferred Income Tax Assets, Net | 0 | $ 0 |
Operating Loss Carryforwards | 390,000 | |
New Jersey net operating loss carry forwards | $ 171,000 |