Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 09, 2016 | Feb. 26, 2016 | |
Document And Entity Information | |||
Entity Registrant Name | Tech Foundry Ventures, Inc. | ||
Entity Central Index Key | 1,605,481 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 95,000 | ||
Entity Common Stock, Shares Outstanding | 21,950,000 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,015 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Current Assets | ||
Cash | $ 39,027 | $ 81,600 |
Undeposited subscription funds | 8,500 | |
Prepaid expenses | $ 910 | 910 |
Total Current Assets | 39,937 | $ 91,010 |
Mineral property interest | 65,000 | |
TOTAL ASSETS | 104,937 | $ 91,010 |
Current Liabilities | ||
Accounts payable | $ 1,406 | 10,869 |
Subscription deposits | 3,500 | |
Related party advances | $ 63,000 | $ 63,000 |
Note payable, net with accrued interest of $425 | 100,425 | |
TOTAL LIABILITIES | $ 164,831 | $ 77,369 |
Stockholders' Equity (Deficit) | ||
Preferred Stock, Authorized 10,000,000 preferred shares, $0.0001 par, none issued and outstanding as of December 31, 2015 and 2014 | ||
Common Stock; Authorized 100,000,000 common shares, $0.0001 par, 21,950,000 and 21,815,000 issued and outstanding as of December 31, 2015 and 2014, respectively | $ 2,195 | $ 2,182 |
Additional paid in capital | 94,905 | 81,418 |
Accumulated deficit | (156,994) | (69,959) |
Total Stockholders' Equity (Deficiency) | (59,894) | 13,641 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 104,937 | $ 91,010 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Accrued interest | $ 425 | $ 425 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares outstanding | ||
Preferred stock, shares issued | ||
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares issued | 21,950,000 | 21,815,000 |
Common stock, shares outstanding | 21,950,000 | 21,815,000 |
Statements of Operations
Statements of Operations - USD ($) | 10 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Income Statement [Abstract] | ||
Revenue | $ 4,000 | |
Operating expenses | ||
Exploration expenses | 25,579 | |
General and administrative expenses | $ 12,449 | 14,110 |
Professional fees | 44,560 | $ 32,339 |
Stock-based compensation | 2,100 | |
Transfer agent and filling fees | 10,850 | $ 18,582 |
Total Operating expenses | $ (69,959) | (90,610) |
Other items | ||
Accrued interest expense | (425) | |
Net and comprehensive loss | $ (69,959) | $ (87,035) |
Net loss per common share - basic and diluted | $ 0 | $ 0 |
Weighted average number of common shares outstanding basic and diluted | 21,133,562 | 21,853,356 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Feb. 27, 2014 | ||||
Balance, shares at Feb. 27, 2014 | ||||
Founders' shares, issued for services rendered on February 28, 2014 at $0.0001 per share | $ 2,100 | $ 2,100 | ||
Founders' shares, issued for services rendered on February 28, 2014 at $0.0001 per share, shares | 21,000,000 | |||
Issuance of common stock at $0.10 per share | $ 82 | $ 81,418 | 81,500 | |
Issuance of common stock at $0.10 per share, shares | 815,000 | |||
Net loss | $ (69,959) | (69,959) | ||
Balance at Dec. 31, 2014 | $ 2,182 | $ 81,418 | $ (69,959) | 13,641 |
Balance, shares at Dec. 31, 2014 | 21,815,000 | |||
Issuance of common stock at $0.10 per share | $ 3 | 3,497 | 3,500 | |
Issuance of common stock at $0.10 per share, shares | 35,000 | |||
Issuance of common stock at $0.10 per share for mineral property interest | $ 10 | $ 9,990 | 10,000 | |
Issuance of common stock at $0.10 per share for mineral property interest, shares | 100,000 | |||
Net loss | $ (87,035) | (87,035) | ||
Balance at Dec. 31, 2015 | $ 2,195 | $ 94,905 | $ (156,994) | $ (59,894) |
Balance, shares at Dec. 31, 2015 | 21,950,000 |
Statement of Stockholders' Equ6
Statement of Stockholders' Equity (Deficit) (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Common Stock [Member] | ||
Shares issued price per share | $ 0.10 | $ 0.10 |
Statements of Cash Flow
Statements of Cash Flow - USD ($) | 10 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
OPERATING ACTIVITIES | ||
Net Loss | $ (69,959) | $ (87,035) |
Adjustments to reconcile net income to net cash provided used for operations | ||
Stock-based compensation | $ 2,100 | |
Accrued interest expense | $ 425 | |
Changes in operating assets and liabilities | ||
Accounts payable | $ 10,869 | $ (9,463) |
Prepaid expenses | (910) | |
Net cash used by Operating Activities | $ (57,900) | $ (96,073) |
INVESTING ACTIVITIES | ||
Acquisition of mineral property interest | (55,000) | |
Net cash used by Investing Activities | (55,000) | |
FINANCING ACTIVITIES | ||
Deposit of subscription funds received | $ 8,500 | |
Issuance of common stock | $ 73,000 | |
Subscription deposits received in advance | 3,500 | |
Shareholder advances | $ 63,000 | |
Note payable | $ 100,000 | |
Net cash provided by Financing Activities | $ 139,500 | 108,500 |
Net cash (decrease) increase for period | $ 81,600 | (42,573) |
Cash, at beginning | 81,600 | |
Cash, at end | $ 81,600 | $ 39,027 |
Supplemental cash flow information: | ||
Cash paid for interest | ||
Cash paid for income taxes |
Nature of Business
Nature of Business | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | NOTE 1 - NATURE OF BUSINESS Tech Foundry Ventures, Inc. (the Company) was incorporated under the laws of the state of Nevada on February 27, 2014. The Company has limited operations and is developing a business plan to provide consulting services to startup companies in Southern California and North America. The Company intends to service development stage enterprises that are seeking startup capital and offer a variety of services to them, which they normally would not be able to afford. The Company also intends to make investments in companies, and/or development stage assets, if it determines that an investment would be appropriate. Going Concern The Companys financial statements are prepared using accounting principles generally accepted in the United States of America (US GAAP) 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 a source of revenues 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. The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern. These financial statements do not include any adjustments to the amounts and classifications of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Management intends to obtain additional funding by borrowing funds, and/or a private placement of common stock. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These financial statements and related notes are presented in accordance with US GAAP, and are presented in United States dollars. Use of Estimates and Assumptions The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company regularly evaluates estimates and assumptions related to the fair value of stock-based compensation, impairment of its interest in a mineral property, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Basis of Accounting The Companys financial statements are prepared using the accrual method of accounting, except for cash flow information. The Company has elected a December 31 fiscal year end. Income Taxes Income tax expense is based on pre-tax financial accounting income. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not some portion or all of the deferred tax assets will not be realized. Loss per Share The Companys basic loss per share is calculated by dividing its net loss available to common stockholders by the weighted average number of common shares outstanding for the period. The Companys dilutive loss per share is calculated by dividing its net loss available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Fair Value of Financial Instruments The Companys financial instruments include cash, accounts payable, related party advances, and note payable. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at December 31, 2015 and 2014 respectively. Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: ● Level 1. Observable inputs such as quoted prices in active markets; ● Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and ● Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions. Cash is measured at fair value using level 1 inputs. Stock Based Compensation For equity awards, such as stock options, total compensation cost is based on the grant date fair value and for liability awards, such as stock appreciation rights, total compensation cost is based on the settlement value. The company recognizes stock-based compensation expense for all awards over the service period required to earn the award, which is the shorter of the vesting period or the time period an employee becomes eligible to retain the award at retirement. Mineral Property Interests Costs of exploration and costs of carrying and retaining unproven properties are expensed as incurred. The Company considers mineral rights to be tangible assets and accordingly, the Company capitalizes certain costs related to the acquisition of mineral rights. Revenue recognition Revenue consists of service revenue generated from management and consulting services. Revenue is recognized when services have been delivered, the amount is fixed or determinable, collection is probable and cost incurred or to incur can be measured reliably. Reclassification Certain prior period numbers have been reclassified to conform with current year presentation. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 3 RELATED PARTY TRANSACTIONS As at December 31, 2015 and 2014, the Companys three shareholders had advanced $63,000 to fund working capital expenses. These advances are unsecured and do not carry an interest rate or repayment terms. During the year ended December 31, 2015, the Company incurred $4,000 (2014 - $2,500) in professional fees to its President, CEO and CFO. During the year ended December 31, 2015, the Company entered into a definitive agreement with Nevada Canyon Gold Corporation, a company with the President and CEO in common with the Company (Note 4). |
Mineral Property Interest
Mineral Property Interest | 12 Months Ended |
Dec. 31, 2015 | |
Extractive Industries [Abstract] | |
Mineral Property Interest | NOTE 4 MINERAL PROPERTY INTEREST On December 17, 2015, the Company entered into a definitive agreement with Nevada Canyon Gold Corporation, a Nevada corporation (NCG), to acquire all of NCGs rights, titles and interests in and to an exploration agreement with an option to form a joint venture with Walker River Resources Corp., a Canadian public company (WRR), dated September 15, 2015 (the Agreement). WRR owns a 100% undivided interest in and to the Lapon Canyon Gold Property, containing the Lapon Canyon claims, which is the subject of the Agreement. The Agreement does not grant the Company an interest in or to the Lapon Canyon claims, or any equity interest in WRR, but rather, grants the Company the right to earn up to an undivided 50% interest in the Lapon Canyon claims by incurring expenditures of US$500,000, over a two-year period, in exploration expenses in a work program established and operated by WRR on the Lapon Canyon claims and, thereafter, grants the Company an option to enter into a joint venture with WRR for further exploration and development of the Lapon Canyon claims. The Agreement also grants the Company the first right of refusal to acquire an additional 20% interest in the Lapon Canyon claims by the expenditure of additional funds and performance of additional tasks, all related to the joint venture. Full consideration for all rights in and to the Agreement consisted of the following: payment of US$65,000 by the Company to NGC, consisting of an initial cash payment of $25,000 deposit, a cash payment of $30,000 and the balance of $10,000 paid through the issuance of 100,000 common shares of the Company issued to NGC at a price of $0.10. All consideration has been fully paid as at December 31, 2015. |
Note Payable
Note Payable | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Note Payable | NOTE 5 NOTE PAYABLE During the year ended December 31, 2015, the Company loaned $100,000 from an unrelated party. The loan bears an interest rate of 5%, commencing on December 1, 2015. All outstanding principal and interest is due on July 31, 2016. During the year ended December 31, 2015, the Company accrued $425 in interest expense. |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Stockholders' Deficit | NOTE 6 STOCKHOLDERS DEFICIT The Company was formed with one class of common stock, $0.0001 par value and is authorized to issue 100,000,000 common shares and one class of preferred stock, $0.0001 par value and is authorized to issue 10,000,000 preferred shares. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they chose to do so, elect all of the directors of the Company. During the year ended December 31, 2015, the Company completed the following transactions: ● On January 5, 2015, the Company issued 35,000 shares of its common stock at a price of $0.10 per share for $3,500 to individuals pursuant to its registration statement on Form S-1. Proceeds of $3,500 were received in advance, during the period ended December 31, 2014. ● On December 17, 2015, the Company issued 100,000 shares of its common stock at a price of $0.10 per share for the acquisition of its mineral property interest (Note 4). During the year ended December 31, 2015, the Company completed the following transactions: ● On February 27, 2014, the Company issued 21,000,000 shares of common stock to its founders, Jeffrey Cocks, Michael Levine and BCIM Management, LP. Jeffrey Cocks and Michael Levine are the Companys directors and Jeffrey Cocks is the Companys sole officer. The Company issued this stock to Mr. Cocks, Mr. Levine and BCIM Management, LP in exchange for $2,100 of services rendered to the Company in its formation at a price of $0.0001 per share. ● From October 30, 2014 to November 24, 2014, the Company issued 815,000 shares of its common stock at a price of $0.10 per share for $81,500 to individuals pursuant to its registration statement on Form S-1. Of the total proceeds, $73,000 was received during the period ended December 31, 2014, and the remaining $8,500 was received during the year ended December 31, 2015. As at December 31, 2015, there are 21,950,000 shares of common stock outstanding. |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2015 | |
Deferred Revenue Disclosure [Abstract] | |
Revenue | NOTE 7 REVENUE During the year ended December 31, 2015, the Company provided consulting services to Walker River Resources Corp. in the amount of $4,000. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 8 INCOME TAXES A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows: 2015 2014 Net loss $ (87,035 ) $ (69,959 ) Statutory tax rate 34 % 34 % Expected income tax recovery at statutory rate (29,592 ) (23,786 ) Non-deductible expenditures 655 1,008 Change in valuation allowance 28,937 22,778 Total income tax expense $ - $ - The Company has the following deductible temporary differences: 2015 2014 Deferred income tax assets: Non-capital loss carry-forward $ 51,715 $ 22,778 Total deferred income tax assets 51,715 22,778 Less: Valuation allowance (51,715 ) (22,778 ) Net deferred income tax asset $ - $ - Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance. The Company has non-capital losses of approximately $152,000, which expire between 2034 to 2035. Tax attributes are subject to review, and potential adjustment, by tax authorities. |
Summary of Significant Accoun16
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation These financial statements and related notes are presented in accordance with US GAAP, and are presented in United States dollars. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company regularly evaluates estimates and assumptions related to the fair value of stock-based compensation, impairment of its interest in a mineral property, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Basis of Accounting | Basis of Accounting The Companys financial statements are prepared using the accrual method of accounting, except for cash flow information. The Company has elected a December 31 fiscal year end. |
Income Taxes | Income Taxes Income tax expense is based on pre-tax financial accounting income. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not some portion or all of the deferred tax assets will not be realized. |
Loss per Share | Loss per Share The Companys basic loss per share is calculated by dividing its net loss available to common stockholders by the weighted average number of common shares outstanding for the period. The Companys dilutive loss per share is calculated by dividing its net loss available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Companys financial instruments include cash, accounts payable, related party advances, and note payable. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at December 31, 2015 and 2014 respectively. Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: ● Level 1. Observable inputs such as quoted prices in active markets; ● Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and ● Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions. Cash is measured at fair value using level 1 inputs. |
Stock Based Compensation | Stock Based Compensation For equity awards, such as stock options, total compensation cost is based on the grant date fair value and for liability awards, such as stock appreciation rights, total compensation cost is based on the settlement value. The company recognizes stock-based compensation expense for all awards over the service period required to earn the award, which is the shorter of the vesting period or the time period an employee becomes eligible to retain the award at retirement. |
Mineral Property Interests | Mineral Property Interests Costs of exploration and costs of carrying and retaining unproven properties are expensed as incurred. The Company considers mineral rights to be tangible assets and accordingly, the Company capitalizes certain costs related to the acquisition of mineral rights. |
Revenue Recognition | Revenue recognition Revenue consists of service revenue generated from management and consulting services. Revenue is recognized when services have been delivered, the amount is fixed or determinable, collection is probable and cost incurred or to incur can be measured reliably. |
Reclassification | Reclassification Certain prior period numbers have been reclassified to conform with current year presentation. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Reconciliation of Expected Income Tax | A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows: 2015 2014 Net loss $ (87,035 ) $ (69,959 ) Statutory tax rate 34 % 34 % Expected income tax recovery at statutory rate (29,592 ) (23,786 ) Non-deductible expenditures 655 1,008 Change in valuation allowance 28,937 22,778 Total income tax expense $ - $ - |
Schedule of Deferred Tax Assets | The Company has the following deductible temporary differences: 2015 2014 Deferred income tax assets: Non-capital loss carry-forward $ 51,715 $ 22,778 Total deferred income tax assets 51,715 22,778 Less: Valuation allowance (51,715 ) (22,778 ) Net deferred income tax asset $ - $ - |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) | 10 Months Ended | 12 Months Ended | |
Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($)Shareholders | Dec. 31, 2014USD ($) | |
Number of shareholders | Shareholders | 3 | ||
Shareholders advances | $ 63,000 | $ 63,000 | $ 63,000 |
Professional fees | $ 44,560 | 32,339 | |
President, CEO and CFO [Member] | |||
Professional fees | $ 4,000 | $ 2,500 |
Mineral Property Interest (Deta
Mineral Property Interest (Details Narrative) - USD ($) | Dec. 17, 2015 | Feb. 27, 2014 |
Shares issued price per share | $ 0.0001 | |
Walker River Resources Corp [Member] | ||
Percentage of undivided interest | 100.00% | |
Lapon Canyon Claims [Member] | ||
Percentage of undivided interest | 50.00% | |
Mineral property incurring expenditures | $ 500,000 | |
Percentage of additional equity interest | 20.00% | |
Nevada Corporation [Member] | ||
Mineral property amount | $ 65,000 | |
Initial cash payment to mineral property | 25,000 | |
Deposit cash payment | 30,000 | |
Issuance of shares for debt, value | $ 10,000 | |
Issuance of shares for debt, shares | 100,000 | |
Shares issued price per share | $ 0.10 |
Note Payable (Details Narrative
Note Payable (Details Narrative) - USD ($) | 10 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Debt Disclosure [Abstract] | ||
Proceeds loan from unrelated party | $ 100,000 | |
Debt instruments interest rate | 5.00% | |
Debt instruments maturity date | Jul. 31, 2016 | |
Accrued interest | $ 425 | $ 425 |
Stockholders' Deficit (Details
Stockholders' Deficit (Details Narrative) - USD ($) | Dec. 17, 2015 | Jan. 05, 2015 | Feb. 26, 2014 | Nov. 24, 2014 | Dec. 31, 2014 | Dec. 31, 2015 | Feb. 27, 2014 |
Common stock par value | $ 0.0001 | $ 0.0001 | |||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | |||||
Preferred stock par value | $ 0.0001 | $ 0.0001 | |||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | |||||
Common stock voting rights | Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they chose to do so, elect all of the directors of the Company. | ||||||
Common share per price | $ 0.0001 | ||||||
Issuance of common stock | $ 81,500 | $ 3,500 | |||||
Founders' shares, issued for services rendered | $ 2,100 | ||||||
Number of stock issued fo acquisition of mineral property interest | 100,000 | ||||||
Common stock, shares outstanding | 21,815,000 | 21,950,000 | |||||
Issuance of common stock | $ 73,000 | ||||||
Proceeds from issuance | $ 8,500 | ||||||
Jeffrey Cocks, Michael Levine and BCIM Management, LP [Member] | |||||||
Common share per price | $ 0.0001 | ||||||
Founders' shares, issued for services rendered, shares | 21,000,000 | ||||||
Founders' shares, issued for services rendered | $ 2,100 | ||||||
Individuals [Member] | |||||||
Issuance of common stock, shares | 35,000 | 815,000 | |||||
Common share per price | $ 0.10 | $ 0.10 | |||||
Issuance of common stock | $ 3,500 | $ 81,500 |
Revenue (Details Narrative)
Revenue (Details Narrative) - USD ($) | 10 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Consulting services | $ 44,560 | $ 32,339 |
Walker River Resources Corp [Member] | ||
Consulting services | $ 4,000 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Income Tax Disclosure [Abstract] | |
Non-capital losses | $ 152,000 |
Tax expiration year | 2034 to 2035 |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation of Expected Income Tax (Details) - USD ($) | 10 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Net loss | $ (69,959) | $ (87,035) |
Statutory tax rate | 34.00% | 34.00% |
Expected income tax recovery at statutory rate | $ (23,786) | $ (29,592) |
Non-deductible expenditures | 1,008 | 655 |
Change in valuation allowance | $ 22,778 | $ 28,937 |
Total income tax expense |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Non-capital loss carry-forward | $ 51,715 | $ 22,778 |
Total deferred income tax assets | 51,715 | 22,778 |
Less: Valuation allowance | $ (51,715) | $ (22,778) |
Net deferred income tax asset |