Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Mar. 31, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'ZETA ACQUISITION CORP I | ' |
Entity Central Index Key | '0001422141 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Entity Well-Known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 5,000,000 |
Entity Public Float | $0 | ' |
Balance_Sheets
Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash and cash equivalents | $4,014 | $2,237 |
Prepaid expenses | 2,500 | 3,500 |
Total assets | 6,514 | 5,737 |
Current liabilities: | ' | ' |
Accounts payable | 350 | 1,850 |
Accrued interest on unsecured promissory note | 17,240 | 11,362 |
Accrued expenses | 5,500 | 5,500 |
Notes payable, stockholders | 110,000 | 85,000 |
Total liabilities | 133,090 | 103,712 |
Stockholders' deficit | ' | ' |
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding | ' | ' |
Common stock, $0.0001 par value; 100,000,000 shares authorized; 5,000,000 shares issued and outstanding | 500 | 500 |
Additional paid-in capital | 49,500 | 49,500 |
Deficit accumulated during the development stage | -176,576 | -147,975 |
Total stockholders' deficit | -126,576 | -97,975 |
Total liabilities and stockholders' deficit | $6,514 | $5,737 |
Balance_Sheets_Parenthetical
Balance Sheets [Parenthetical] (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | ' |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock issued | 5,000,000 | 5,000,000 |
Common stock, shares outstanding | 5,000,000 | 5,000,000 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 73 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Operating expenses: | ' | ' | ' |
Formation costs | ' | ' | $15,648 |
General and administrative | 22,723 | 22,363 | 143,688 |
Operating loss | -22,723 | -22,363 | -159,336 |
Interest expense | 5,878 | 4,974 | 17,240 |
Net loss | ($28,601) | ($27,337) | ($176,576) |
Net loss per basic and diluted common share (in dollars per share) | ($0.01) | ($0.01) | ($0.04) |
Weighted-average number of common shares outstanding (in shares) | 5,000,000 | 5,000,000 | 4,937,416 |
Statements_of_Stockholders_Equ
Statements of Stockholders' Equity (Deficit) (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] |
Balance at Nov. 16, 2007 | ' | ' | ' | ' |
Balance (in shares) at Nov. 16, 2007 | ' | ' | ' | ' |
Issuance of common stock on December 14, 2007 at $0.01 per share | 50,000 | 500 | 49,500 | ' |
Issuance of common stock on December 14, 2007 at $0.01 per share (in shares) | ' | 5,000,000 | ' | ' |
Net loss | -14,982 | ' | ' | -14,982 |
Balance at Dec. 31, 2007 | 35,018 | 500 | 49,500 | -14,982 |
Balance (in shares) at Dec. 31, 2007 | ' | 5,000,000 | ' | ' |
Net loss | -33,618 | ' | ' | -33,618 |
Balance at Dec. 31, 2008 | 1,400 | 500 | 49,500 | -48,600 |
Balance (in shares) at Dec. 31, 2008 | ' | 5,000,000 | ' | ' |
Net loss | -19,996 | ' | ' | -19,996 |
Balance at Dec. 31, 2009 | -18,596 | 500 | 49,500 | -68,596 |
Balance (in shares) at Dec. 31, 2009 | ' | 5,000,000 | ' | ' |
Net loss | -24,983 | ' | ' | -24,983 |
Balance at Dec. 31, 2010 | -43,579 | 500 | 49,500 | -93,579 |
Balance (in shares) at Dec. 31, 2010 | ' | 5,000,000 | ' | ' |
Net loss | -27,059 | ' | ' | -27,059 |
Balance at Dec. 31, 2011 | -70,638 | 500 | 49,500 | -120,638 |
Balance (in shares) at Dec. 31, 2011 | ' | 5,000,000 | ' | ' |
Net loss | -27,337 | ' | ' | -27,337 |
Balance at Dec. 31, 2012 | -97,975 | 500 | 49,500 | -147,975 |
Balance (in shares) at Dec. 31, 2012 | ' | 5,000,000 | ' | ' |
Net loss | -28,601 | ' | ' | -28,601 |
Balance at Dec. 31, 2013 | ($126,576) | $500 | $49,500 | ($176,576) |
Balance (in shares) at Dec. 31, 2013 | ' | 5,000,000 | ' | ' |
Statements_of_Stockholders_Equ1
Statements of Stockholders' Equity (Deficit) [Parenthetical] (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 73 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Operating activities | ' | ' | ' |
Net loss | ($28,601) | ($27,337) | ($176,576) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Decrease (increase) in prepaid expenses | 1,000 | -1,025 | -2,500 |
Increase (decrease) in accounts payable | -1,500 | -1,102 | 350 |
Increase in accrued interest | 5,878 | 4,974 | 17,240 |
Increase in accrued expenses | ' | ' | 5,500 |
Net cash used in operating activities | -23,223 | -24,490 | -155,986 |
Financing activities | ' | ' | ' |
Proceeds from related party debt by issuing unsecured promissory note | 25,000 | 25,000 | 120,000 |
Payments on notes payable, stockholders | ' | ' | -10,000 |
Proceeds from issuance of common stock | ' | ' | 50,000 |
Net cash provided by financing activities | 25,000 | 25,000 | 160,000 |
Net increase in cash and cash equivalents | 1,777 | 510 | 4,014 |
Cash and cash equivalents at beginning of period | 2,237 | 1,727 | ' |
Cash and cash equivalents at end of period | $4,014 | $2,237 | $4,014 |
Nature_of_Operations_and_Signi
Nature of Operations and Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Nature of Operations and Significant Accounting Policies [Abstract] | ' | |
Nature of Operations and Significant Accounting Policies | ' | |
1. | Nature of Operations and Significant Accounting Policies | |
Nature of Operations | ||
Zeta Acquisition Corp. I (the "Company") was incorporated under the laws of the State of Delaware on November 16, 2007. The Company is a new enterprise in the development stage as defined by Accounting Standards Codification ("ASC") Topic 915, Development Stage Entities. The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's principal business objective for the next twelve (12) months and beyond will be to achieve long-term growth potential through a combination with a business. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. | ||
Liquidity | ||
Since its inception, the Company has generated no revenues and has incurred a net loss of $176,576. Since inception, the Company has been dependent upon the receipt of capital investment or other financing to fund its continuing activities. The Company has not identified any business combination and therefore, cannot ascertain with any degree of certainty the capital requirements for any particular transaction. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. During 2013 and 2012, the Company received loans of $25,000 to fund operations (Note 2). The accompanying financial statements have been presented on the basis of the continuation of the Company as a going concern and do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | ||
Use of Estimates | ||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain 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 revenue and expenses during the reporting periods. Actual results could differ from those estimates. | ||
Cash and Cash Equivalents | ||
For purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three (3) months or less to be cash equivalents. | ||
Income Taxes | ||
The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes, which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. | ||
Fair Value of Financial Instruments | ||
Pursuant to ASC Topic 820-10, Fair Value Measurements and Disclosures, the Company is required to estimate the fair value of all financial instruments included on its balance sheet as of December 31, 2013 and 2012. The Company considers the carrying value of cash and cash equivalents, accounts payable, accrued expenses, accrued interest, and notes payable to stockholders to approximate fair value due to their short maturities. | ||
Net Loss Per Share | ||
Basic loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. The Company currently has no dilutive securities and as such, basic and diluted loss per share are the same for all periods presented. | ||
Recently Issued Accounting Pronouncements | ||
Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect. |
Notes_Payable_Stockholders
Notes Payable, Stockholders | 12 Months Ended | |
Dec. 31, 2013 | ||
Notes Payable, Stockholders [Abstract] | ' | |
Notes Payable, Stockholders | ' | |
2. | Notes Payable, Stockholders | |
During 2013, various stockholders loaned the Company $25,000 and were issued unsecured promissory notes which bear interest at 6% and are due on demand. Similar stockholder loans amounted to $25,000 during 2012, $35,000 during 2010, and $25,000 during 2009. Interest of $17,240 and $11,362 was accrued and unpaid at December 31, 2013 and 2012, respectively. | ||
During 2007, the Company issued an unsecured promissory note to a stockholder and officer of the Company in the amount of $10,000. The note was non-interest bearing and was repaid from the proceeds of the sale of common stock. |
Preferred_Stock
Preferred Stock | 12 Months Ended | |
Dec. 31, 2013 | ||
Preferred Stock and Common Stock [Abstract] | ' | |
Preferred Stock | ' | |
3. | Preferred Stock | |
The Company is authorized to issue 10,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. |
Common_Stock
Common Stock | 12 Months Ended | |
Dec. 31, 2013 | ||
Preferred Stock and Common Stock [Abstract] | ' | |
Common Stock | ' | |
4. | Common Stock | |
The Company is authorized to issue 100,000,000 shares of common stock with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. During December 2007, the Company issued 5,000,000 shares of its common stock pursuant to a private placement for $50,000. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
5. | Income Taxes | ||||||||
The Company has reviewed its tax positions as of December 31, 2013 and 2012, and has not identified any positions that are uncertain. Income tax returns filed and to be filed for the years ended December 31, 2010, 2011, 2012, and 2013 are open to review by the Internal Revenue Service. | |||||||||
The tax effects of temporary differences that give rise to significant portions of the Company's net deferred tax asset at December 31, 2013 and 2012 are as follows: | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Deferred tax asset: | |||||||||
Capitalized formation costs | $ | 54,200 | $ | 46,400 | |||||
Net operating loss carryforward | 5,900 | 3,900 | |||||||
Valuation allowance | (60,100 | ) | (50,300 | ) | |||||
Net deferred tax asset recognized | $ | -- | $ | -- | |||||
A full valuation allowance has been recorded against the Company's deferred tax asset because, based on the weight of available evidence, it is more likely than not that such benefits will not be realized. As of December 31, 2013, the Company has a net operating loss carryforward for federal and state income tax purposes of approximately $17,200. The net operating loss carryforward will begin to expire in 2029. | |||||||||
The benefit from income taxes differs from the amount computed by applying the United States (US) federal income tax rate of thirty-four percent (34%) in 2013 and 2012 to loss before income taxes for the years ended December 31, 2013 and 2012 as follows: | |||||||||
Year Ended | Year Ended | ||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
US federal income tax benefit at statutory rate | $ | (9,700 | ) | $ | (9,300 | ) | |||
Other | (100 | ) | -- | ||||||
Change in valuation allowance | 9,800 | 9,300 | |||||||
Benefit from income taxes | $ | -- | $ | -- | |||||
Commitment
Commitment | 12 Months Ended | |
Dec. 31, 2013 | ||
Commitments [Abstract] | ' | |
Commitments | ' | |
6. | Commitment | |
The Company utilizes the office space and equipment of an officer and director at no cost on a month-to-month basis. Management estimates such amounts to be di minimis. |
Nature_of_Operations_and_Signi1
Nature of Operations and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Nature of Operations and Significant Accounting Policies [Abstract] | ' |
Liquidity | ' |
Liquidity | |
Since its inception, the Company has generated no revenues and has incurred a net loss of $176,576. Since inception, the Company has been dependent upon the receipt of capital investment or other financing to fund its continuing activities. The Company has not identified any business combination and therefore, cannot ascertain with any degree of certainty the capital requirements for any particular transaction. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. During 2013 and 2012, the Company received loans of $25,000 to fund operations (Note 2). The accompanying financial statements have been presented on the basis of the continuation of the Company as a going concern and do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain 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 revenue and expenses during the reporting periods. Actual results could differ from those estimates. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
For purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three (3) months or less to be cash equivalents. | |
Income Taxes | ' |
Income Taxes | |
The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes, which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
Pursuant to ASC Topic 820-10, Fair Value Measurements and Disclosures, the Company is required to estimate the fair value of all financial instruments included on its balance sheet as of December 31, 2013 and 2012. The Company considers the carrying value of cash and cash equivalents, accounts payable, accrued expenses, accrued interest, and notes payable to stockholders to approximate fair value due to their short maturities. | |
Net Loss Per Share | ' |
Net Loss Per Share | |
Basic loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. The Company currently has no dilutive securities and as such, basic and diluted loss per share are the same for all periods presented. | |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Schedule of tax effects on significant portions of deferred tax asset | ' | ||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Deferred tax asset: | |||||||||
Capitalized formation costs | $ | 54,200 | $ | 46,400 | |||||
Net operating loss carryforward | 5,900 | 3,900 | |||||||
Valuation allowance | (60,100 | ) | (50,300 | ) | |||||
Net deferred tax asset recognized | $ | -- | $ | -- | |||||
Schedule of effective income tax rate reconciliation | ' | ||||||||
Year Ended | Year Ended | ||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
US federal income tax benefit at statutory rate | $ | (9,700 | ) | $ | (9,300 | ) | |||
Other | (100 | ) | -- | ||||||
Change in valuation allowance | 9,800 | 9,300 | |||||||
Benefit from income taxes | $ | -- | $ | -- | |||||
Nature_of_Operations_and_Signi2
Nature of Operations and Significant Accounting Policies (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 73 Months Ended | |||||
Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2013 | |
Nature Of Operations And Significant Accounting Policies (Textual) | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($14,982) | ($28,601) | ($27,337) | ($27,059) | ($24,983) | ($19,996) | ($33,618) | ($176,576) |
Proceeds from related party debt by issuing unsecured promissory note | $10,000 | $25,000 | $25,000 | ' | ' | ' | ' | $120,000 |
Notes_Payable_Stockholders_Det
Notes Payable, Stockholders (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 73 Months Ended | |
Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Notes Payable Stockholders Textual [Abstract] | ' | ' | ' | ' |
Interest rate on unsecured promissory note | ' | 6.00% | ' | ' |
Accrued interest on unsecured promissory note | ' | $17,240 | $11,362 | $17,240 |
Proceeds from related party debt by issuing unsecured promissory note | $10,000 | $25,000 | $25,000 | $120,000 |
Preferred_Stock_Details_Textua
Preferred Stock (Details Textual) | Dec. 31, 2013 |
Preferred stock, shares authorized | 10,000,000 |
Common_Stock_Details_Textual
Common Stock (Details Textual) (USD $) | 12 Months Ended | 73 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2007 | |
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | ' |
Common stock issued | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 |
Proceeds from issuance of common stock | ' | ' | $50,000 | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred tax asset: | ' | ' |
Capitalized formation costs | $54,200 | $46,400 |
Net operating loss carryforward | 5,900 | 3,900 |
Valuation allowance | -60,100 | -50,300 |
Net deferred tax asset recognized | ' | ' |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
US federal income tax benefit at statutory rate | ($9,700) | ($9,300) |
Other | -100 | ' |
Change in valuation allowance | 9,800 | 9,300 |
Benefit from income taxes | ' | ' |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Loss Carryforwards | $17,200 | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | 34.00% |
Operating Loss Carryforwards, Expiration Dates | 31-Dec-29 | ' |