Document and Entity Information
Document and Entity Information - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Jun. 30, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | Bnet Media Group, Inc. | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Trading Symbol | bnet | |
Amendment Flag | false | |
Entity Central Index Key | 1,501,268 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 35,015,000 | |
Entity Public Float | $ 35,015,000 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | No | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
CURRENT ASSETS | ||
Cash | $ 76 | |
Total Current Assets | 76 | |
TOTAL ASSETS | 76 | |
CURRENT LIABILITIES | ||
Accounts payable | 76,649 | $ 75,505 |
Accounts payable - related parties | 133,819 | 123,586 |
Total Current Liabilities | $ 210,468 | $ 199,091 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Preferred stock series A: $0.001 par value, 100,000,000 shares authorized, 20,000,000 shares issued and outstanding. | 20,000 | 20,000 |
Preferred stock series B: $0.001 par value, 20,000,000 shares authorized, 8,021,796 shares issued and outstanding. | 8,022 | 8,022 |
Preferred stock series D: $0.001 par value, 20,000,000 shares authorized, 20,000,000 shares issued and outstanding | $ 20,000 | $ 20,000 |
Common stock: $0.001 par value, 800,000,000 shares authorized, 35,015,000 shares issued and outstanding. | 35,015 | 35,015 |
Additional paid-in capital | 249,474 | 249,474 |
Accumulated deficit | (542,903) | (531,602) |
Total Stockholders' Equity (Deficit) | (210,392) | $ (199,091) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 76 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
OPERATING EXPENSES | ||
Professional fees | $ 11,279 | $ 7,443 |
General and administrative | 22 | 14,099 |
Total Operating Expenses | 11,301 | 21,542 |
LOSS FROM OPERATIONS | (11,301) | (21,542) |
NET INCOME LOSS | $ (11,301) | $ (21,542) |
BASIC AND DILUTED LOSS PER COMMON SHARE | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF BASIC AND DILUTED COMMON SHARES OUTSTANDING | 35,015,000 | 35,015,000 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Profit loss | $ (11,301) | $ (21,542) |
Changes in operating assets and liabilities: | ||
Accounts payable | 1,144 | 1,243 |
Accounts payable - related parties | 10,233 | 5,189 |
Net Cash Provided by (Used in) Operating Activities | 76 | (15,110) |
NET INCREASE (DECREASE) IN CASH | 76 | (15,110) |
CASH AT BEGINNING OF PERIOD | 15,550 | |
CASH AT END OF PERIOD | $ 76 | $ 440 |
Note 1 - Condensed Consolidated
Note 1 - Condensed Consolidated Financial Statements | 3 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 1 - Condensed Consolidated Financial Statements | NOTE 1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2017, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's December 31, 2016 audited consolidated financial statements. The results of operations for the periods ended March 31, 2017 and 2016 are not necessarily indicative of the operating results for the full years. |
Note 2 - Going Concern
Note 2 - Going Concern | 3 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 2 - Going Concern | NOTE 2 - GOING CONCERN The Company's consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 3 - Significant Accounting Policies | NOTE 3 SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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. Loss per Common Share Basic earnings (loss) per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share include the dilutive effect, if any, from the potential exercise of stock options using the treasury stock method. At March 31, 2017 and December 31, 2016, the Company had no dilutive common equivalent shares. For the three months ended March 31, 2017, and for the year ended December 31, 2016, convertible preferred stock in the amount of 28,021,796, were excluded from loss per share because their effect would be anti-dilutive. Recent Accounting Pronouncements The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Companys financial position, or statements. |
Note 4- Related Party
Note 4- Related Party | 3 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 4- Related Party | NOTE 4- RELATED PARTY As of March 31, 2017, the Company is indebted to Company Officers and entities controlled by Officers for services, periodic advances to the Company and expenses paid for on the Companys behalf. The debts are non-interest bearing, and non-maturing. There is also no collateral held. Of the amount owing of $133,819 at March 31, 2017, an Officer of the Company paid net expenses of $11,301 on behalf of the Company during the three months ended March 31, 2017. |