|
Document - Document and Entity Information |
Document - Document and Entity Information (USD $) |
9 Months Ended |
|
( custom:DocumentAndEntityInformationAbstract [Extension] ) |
|
|
|
Sep. 30, 2014 |
Oct. 8, 2014 |
|
|
|
|
|
|
|
|
|
Entity Registrant Name |
Artventive Medical Group, Inc. | |
| |
( dei:EntityRegistrantName ) |
| |
| |
Entity Central Index Key |
0001405249 | |
| |
( dei:EntityCentralIndexKey ) |
| |
| |
Document Type |
10-Q | |
| |
( dei:DocumentType ) |
| |
| |
Document Period End Date |
2014-09-30 | |
| |
( dei:DocumentPeriodEndDate ) |
| |
| |
Amendment Flag |
false | |
| |
( dei:AmendmentFlag ) |
| |
| |
Current Fiscal Year End Date |
--12-31 | |
| |
( dei:CurrentFiscalYearEndDate ) |
| |
| |
Is Entity a Well-known Seasoned Issuer? |
No | |
| |
( dei:EntityWellKnownSeasonedIssuer ) |
| |
| |
Is Entity a Voluntary Filer? |
No | |
| |
( dei:EntityVoluntaryFilers ) |
| |
| |
Is Entity's Reporting Status Current? |
Yes | |
| |
( dei:EntityCurrentReportingStatus ) |
| |
| |
Entity Filer Category |
Smaller Reporting Company | |
| |
( dei:EntityFilerCategory ) |
| |
| |
Entity Public Float |
| |
| |
( dei:EntityPublicFloat ) |
| |
| |
Entity Common Stock, Shares Outstanding |
| |
58,506,286 | |
( dei:EntityCommonStockSharesOutstanding ) |
| |
| |
Document Fiscal Period Focus |
Q3 | |
| |
( dei:DocumentFiscalPeriodFocus ) |
| |
| |
Document Fiscal Year Focus |
2014 | |
| |
( dei:DocumentFiscalYearFocus ) |
| |
| |
|
(End Document - Document and Entity Information) |
|
Statement - Balance Sheets (Unaudited) |
Statement - Balance Sheets (Unaudited) (USD $) |
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
Sep. 30, 2014 |
Dec. 31, 2013 |
|
|
|
|
|
|
|
|
|
|
| |
| |
|
| |
| |
Assets |
| |
| |
( us-gaap:AssetsAbstract ) |
| |
| |
current |
| |
| |
( us-gaap:AssetsCurrentAbstract ) |
| |
| |
Cash and cash equivalents |
207,471 | |
1,626,521 | |
( us-gaap:CashAndCashEquivalentsAtCarryingValue ) |
| |
| |
Accounts receivable |
9,450 | |
— | |
( us-gaap:AccountsReceivableNet ) |
| |
| |
Prepaid expenses |
1,048 | |
9,098 | |
( us-gaap:PrepaidExpenseCurrent ) |
| |
| |
Inventory |
239,754 | |
26,903 | |
( us-gaap:InventoryGross ) |
| |
| |
Total current assets |
457,723 | |
1,662,522 | |
( us-gaap:AssetsCurrent ) |
| |
| |
PROPERTY, PLANT and equipment |
| |
| |
( us-gaap:PropertyPlantAndEquipmentAbstract ) |
| |
| |
Office equipment |
16,380 | |
16,380 | |
( us-gaap:PropertyPlantAndEquipmentOther ) |
| |
| |
Accumulated depreciation |
(4,617 | ) |
(2,303 | ) |
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment ) |
| |
| |
net property, plant and equipment |
11,763 | |
14,077 | |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
other assets |
| |
| |
( us-gaap:OtherAssetsAbstract ) |
| |
| |
Deposits |
80,497 | |
51,048 | |
( us-gaap:Deposits ) |
| |
| |
total other assets |
80,497 | |
51,048 | |
( us-gaap:OtherAssets ) |
| |
| |
|
| |
| |
|
| |
| |
Total assets |
549,983 | |
1,727,647 | |
( us-gaap:Assets ) |
| |
| |
|
| |
| |
|
| |
| |
Liabilities and stockholders EQUITY |
| |
| |
( us-gaap:LiabilitiesAndStockholdersEquityAbstract ) |
| |
| |
current LIABILITES |
| |
| |
( us-gaap:LiabilitiesCurrentAbstract ) |
| |
| |
Accounts payable |
286,402 | |
272,509 | |
( us-gaap:AccountsPayableCurrent ) |
| |
| |
Accrued expenses |
905,800 | |
585,800 | |
( us-gaap:AccruedLiabilitiesCurrent ) |
| |
| |
Total CURRENT liabilities |
1,192,202 | |
858,309 | |
( us-gaap:LiabilitiesCurrent ) |
| |
| |
|
| |
| |
|
| |
| |
LONG-TERM LIABILITES |
| |
| |
( us-gaap:LongTermDebtAbstract ) |
| |
| |
Notes payable |
500,000 | |
— | |
( us-gaap:NotesPayable ) |
| |
| |
Total LONG-TERM liabilities |
500,000 | |
— | |
( us-gaap:LongTermDebtNoncurrent ) |
| |
| |
|
| |
| |
|
| |
| |
Total LIABILITIES |
1,692,202 | |
858,309 | |
( us-gaap:AccruedLiabilitiesCurrentAndNoncurrent ) |
| |
| |
|
| |
| |
|
| |
| |
stockholders EQUITY (deficit) |
| |
| |
( us-gaap:StockholdersEquityAbstract ) |
| |
| |
|
| |
| |
|
| |
| |
Common stock, par value $.001, 100,000,000 shares authorized, 58,506,286 and 55,306,286 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively |
58,506 | |
55,306 | |
( us-gaap:CommonStockParOrStatedValuePerShare ) |
| |
| |
Additional paid in capital |
11,933,079 | |
9,056,279 | |
( us-gaap:AdditionalPaidInCapital ) |
| |
| |
Deficit accumulated during the development stage |
(13,133,804 | ) |
(8,242,247 | ) |
( us-gaap:DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage ) |
| |
| |
TOTAL STOCKHOLDERS EQUITY (DEFICIT) |
(1,142,219 | ) |
869,338 | |
( us-gaap:StockholdersEquity ) |
| |
| |
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT) |
549,983 | |
1,727,647 | |
( us-gaap:LiabilitiesAndStockholdersEquity ) |
| |
| |
|
(End Statement - Balance Sheets (Unaudited)) |
|
Statement - Balance Sheets (Parenthetical) |
Statement - Balance Sheets (Parenthetical) (USD $) |
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
Sep. 30, 2014 |
Dec. 31, 2013 |
|
|
|
|
|
|
|
|
|
|
| |
| |
|
| |
| |
Common stock, par value $.001, authorized |
100,000,000 | |
100,000,000 | |
( us-gaap:CommonStockSharesAuthorized ) |
| |
| |
Common stock, par value $.001, issued and outstanding |
58,506,286 | |
55,306,286 | |
( us-gaap:CommonStockSharesIssued ) |
| |
| |
|
(End Statement - Balance Sheets (Parenthetical)) |
|
Statement - Consolidated Statements of Operations and Comprehensive Loss (Unaudited) |
Statement - Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (USD $) |
3 Months Ended |
9 Months Ended |
92 Months Ended |
( us-gaap:IncomeStatementAbstract ) |
|
|
|
|
Sep. 30, 2014 |
Sep. 30, 2013 |
Sep. 30, 2014 |
Sep. 30, 2013 |
Sep. 30, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
revenues |
31,865 | |
— | |
67,500 | |
— | |
67,500 | |
( us-gaap:Revenues ) |
| |
| |
| |
| |
| |
cost of goods sold |
31,865 | |
— | |
67,500 | |
— | |
67,500 | |
( us-gaap:CostOfGoodsSold ) |
| |
| |
| |
| |
| |
gross profit |
— | |
— | |
— | |
— | |
— | |
( us-gaap:GrossProfit ) |
| |
| |
| |
| |
| |
operating expenses |
| |
| |
| |
| |
| |
( us-gaap:OperatingExpensesAbstract ) |
| |
| |
| |
| |
| |
Exploration costs |
— | |
— | |
— | |
— | |
45,533 | |
( us-gaap:ExplorationCosts ) |
| |
| |
| |
| |
| |
Research and development |
1,111,526 | |
434,955 | |
2,770,964 | |
1,317,089 | |
7,787,604 | |
( us-gaap:ResearchAndDevelopmentExpense ) |
| |
| |
| |
| |
| |
Selling, general and administrative |
466,874 | |
393,679 | |
2,118,973 | |
933,723 | |
5,301,231 | |
( us-gaap:SellingGeneralAndAdministrativeExpense ) |
| |
| |
| |
| |
| |
Depreciation expense |
771 | |
583 | |
2,314 | |
1,747 | |
5,133 | |
( us-gaap:Depreciation ) |
| |
| |
| |
| |
| |
Operating loss before other items and income tax |
(1,579,171 | ) |
(829,217 | ) |
(4,892,251 | ) |
(2,252,559 | ) |
(13,139,501 | ) |
( us-gaap:OperatingIncomeLoss ) |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
Other INCOME/(EXPENSE) |
| |
| |
| |
| |
| |
( us-gaap:OtherIncomeAndExpensesAbstract ) |
| |
| |
| |
| |
| |
iNTEREST INCOME |
76 | |
82 | |
694 | |
501 | |
5,697 | |
( us-gaap:InterestAndDividendIncomeOperating ) |
| |
| |
| |
| |
| |
Income tax expense (benefit) |
— | |
— | |
— | |
— | |
— | |
( us-gaap:IncomeTaxExpenseBenefit ) |
| |
| |
| |
| |
| |
net loss availAble to common stockholders |
(1,579,095 | ) |
(829,135 | ) |
(4,891,557 | ) |
(2,252,058 | ) |
(13,133,804 | ) |
( us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic ) |
| |
| |
| |
| |
| |
COMPREHENSIVE LOSS FOR THE PERIOD |
(1,579,095 | ) |
(829,135 | ) |
(4,891,557 | ) |
(2,252,058 | ) |
(13,133,804 | ) |
( us-gaap:ComprehensiveIncomeNetOfTax ) |
| |
| |
| |
| |
| |
basic and diluted loss per common share |
0 | |
0 | |
0 | |
0 | |
| |
( us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare ) |
| |
| |
| |
| |
| |
weighted average shares outstanding |
58,005,199 | |
52,234,857 | |
56,776,286 | |
51,706,494 | |
| |
( us-gaap:WeightedAverageBasicSharesOutstandingProForma ) |
| |
| |
| |
| |
| |
|
(End Statement - Consolidated Statements of Operations and Comprehensive Loss (Unaudited)) |
|
Statement - Consolidated Statements of Cash Flows (Unaudited) |
Statement - Consolidated Statements of Cash Flows (Unaudited) (USD $) |
9 Months Ended |
92 Months Ended |
( us-gaap:StatementOfCashFlowsAbstract ) |
|
|
|
Sep. 30, 2014 |
Sep. 30, 2013 |
Sep. 30, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
| |
|
| |
| |
| |
|
| |
| |
| |
|
| |
| |
| |
cash flow from operating activities |
| |
| |
| |
( us-gaap:NetCashProvidedByUsedInOperatingActivitiesAbstract ) |
| |
| |
| |
Net loss |
(4,891,557 | ) |
(2,252,058 | ) |
(13,133,804 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
| |
Adjustments to reconcile net loss to net cash used by operating activities |
| |
| |
| |
( us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract ) |
| |
| |
| |
|
| |
| |
| |
|
| |
| |
| |
Non-cash expenses |
— | |
— | |
60,805 | |
( us-gaap:OtherNoncashIncomeExpense ) |
| |
| |
| |
Depreciation expense |
2,314 | |
1,747 | |
5,133 | |
( us-gaap:DepreciationAndAmortization ) |
| |
| |
| |
Issuance of common stock and options for services |
— | |
20,169 | |
103,482 | |
( us-gaap:AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities ) |
| |
| |
| |
Changes IN operating assets and liabilities |
| |
| |
| |
( us-gaap:IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract ) |
| |
| |
| |
Accounts receivable |
(9,450 | ) |
— | |
(9,450 | ) |
( us-gaap:IncreaseDecreaseInAccountsReceivable ) |
| |
| |
| |
Prepaid expenses |
8,050 | |
5,000 | |
(1,048 | ) |
( us-gaap:IncreaseDecreaseInPrepaidExpense ) |
| |
| |
| |
Inventory |
(212,851 | ) |
— | |
(239,754 | ) |
( us-gaap:IncreaseDecreaseInInventories ) |
| |
| |
| |
Deposits |
(29,449 | ) |
— | |
(80,497 | ) |
( us-gaap:IncreaseDecreaseInDeposits ) |
| |
| |
| |
Accounts payable |
13,893 | |
183,125 | |
286,402 | |
( us-gaap:IncreaseDecreaseInAccountsPayable ) |
| |
| |
| |
Payroll taxes payable |
— | |
(42 | ) |
— | |
( us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities ) |
| |
| |
| |
Accounts payable related party |
— | |
— | |
39,000 | |
( us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties ) |
| |
| |
| |
Net cash used by operating activities |
(5,119,050 | ) |
(2,042,059 | ) |
(12,969,731 | ) |
( us-gaap:NetCashProvidedByUsedInContinuingOperations ) |
| |
| |
| |
cash flows from investing activities |
| |
| |
| |
( us-gaap:NetCashProvidedByUsedInInvestingActivitiesAbstract ) |
| |
| |
| |
Disposal of equipment |
— | |
— | |
745 | |
( us-gaap:PropertyPlantAndEquipmentDisposals ) |
| |
| |
| |
Purchase of equipment |
— | |
(3,551 | ) |
(17,623 | ) |
( us-gaap:PaymentsToAcquirePropertyPlantAndEquipment ) |
| |
| |
| |
NET CASH used BY INVESTING ACTIVITIES |
— | |
(3,551 | ) |
(16,878 | ) |
( us-gaap:NetCashProvidedByUsedInInvestingActivities ) |
| |
| |
| |
cash flows from financing activities |
| |
| |
| |
( us-gaap:NetCashProvidedByUsedInFinancingActivitiesAbstract ) |
| |
| |
| |
Issuance of common stock for cash |
3,200,000 | |
2,058,000 | |
12,544,080 | |
( us-gaap:ProceedsFromIssuanceOrSaleOfEquity ) |
| |
| |
| |
Issuance of notes payable |
500,000 | |
— | |
500,000 | |
( us-gaap:ProceedsFromNotesPayable ) |
| |
| |
| |
Convertible note payable (see Note 4) |
— | |
— | |
150,000 | |
( us-gaap:AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature ) |
| |
| |
| |
NET CASH PROVIDED BY FINANCING ACTIVITIES |
3,700,000 | |
2,058,000 | |
13,194,080 | |
( us-gaap:NetCashProvidedByUsedInFinancingActivities ) |
| |
| |
| |
net increase (decrease) in cash and cash equivalents |
(1,419,050 | ) |
12,390 | |
207,471 | |
( us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease ) |
| |
| |
| |
|
| |
| |
| |
|
| |
| |
| |
cash, beginning of period |
1,626,521 | |
517,831 | |
— | |
( us-gaap:Cash ) |
| |
| |
| |
cash, end of period |
207,471 | |
530,221 | |
207,471 | |
( us-gaap:Cash ) |
| |
| |
| |
non-cash investing and financing activities |
| |
| |
| |
( us-gaap:CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract ) |
| |
| |
| |
sTOCK ISSUED UPON CONVERSION OF NOTE PAYABLE |
— | |
— | |
150,000 | |
( us-gaap:RepaymentsOfConvertibleDebt ) |
| |
| |
| |
forgiveness OF RELATED PARTY NOTE; APPLIED TO PAID IN CAPITAL |
— | |
— | |
39,000 | |
( us-gaap:AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt ) |
| |
| |
| |
|
| |
| |
| |
|
| |
| |
| |
ACCRUAL OF STOCK ISSUANCE COST |
320,000 | |
205,800 | |
905,800 | |
( us-gaap:PaymentsOfStockIssuanceCosts ) |
| |
| |
| |
|
(End Statement - Consolidated Statements of Cash Flows (Unaudited)) |
|
Disclosure - Basis of Financial Statement Presentation |
Disclosure - Basis of Financial Statement Presentation (USD $) |
9 Months Ended |
( OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Basis of Financial Statement Presentation |
| 1. | BASIS OF FINANCIAL STATEMENT PRESENTATION |
The accompanying unaudited condensed
consolidated financial statements have been prepared by ArtVentive Medical Group, Inc. the Company pursuant to the
rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included
in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted
in accordance with such rules and regulations. The information furnished in the interim condensed financial statements includes
normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation
of such financial statements. Although management believes the disclosures and information presented are adequate to make the information
not misleading, it is suggested that these interim condensed consolidated financial statements be read in conjunction with the
Company's audited financial statements and notes thereto included in its Form 10-K filed on March 26, 2014. Operating results for
the nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for the fiscal year ended
December 31, 2014.
| |
( us-gaap:BasisOfAccounting ) |
| |
|
(End Disclosure - Basis of Financial Statement Presentation) |
|
Disclosure - Organization |
Disclosure - Organization (USD $) |
9 Months Ended |
( OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Organization |
ORGANIZATION
The Company was originally incorporated
under the name of Big Bear Resources, Inc. a USA Company registered in the State of Nevada on January 23, 2007. The Company changed
its name to Uranium Plus Resources Inc. on March 21, 2008, and following the acquisition of the assets of ArtVentive, Inc. the
Company changed its name on January 26, 2010, to ArtVentive Medical Group, Inc. The accounting and reporting policies of the Company
conform to accounting principles generally accepted in the United States of America, and the Companys fiscal year end is
December 31.
The Company is a medical device corporation,
focused on developing, manufacturing and marketing a family of Endoluminal Occlusion Devices (EOS). Through its innovative,
proprietary technology the Company has developed unique minimally invasive occlusion devices and procedures, bringing the current
interventional, image guided techniques to a new level of sophistication, potentially resolving significant and unaddressed health
issues. The EOS device being developed by the Company targets a substantive market demand in several major clinical areas,
including women's health, peripheral and neurological vascular disorders, and interventional cardiology procedures.
To date, the Companys activities
have been committed to the development of the EOS, intellectual property, animal studies, human studies, patent filings,
and developing a regulatory strategy for initial clinical indications pertinent to European, manufacturing and FDA submissions
and approvals, corporate operations and the raising of equity capital. The Company conducted the required human clinical studies
during 2011 achieving 100% clinical and procedural success, validating the safety and efficiency of the ArtVentive EOSTM
device. The Company received its CE Mark certification for the ArtVentive EOS Peripheral device on May 30, 2013. In 2014
the Company began commercialization and commenced shipping to its European distributors and preparing the foundation for marketing
and sales into the USA markets following regulatory approval.
On August 3, 2011, the Company
incorporated ArtVentive Womens Health Group, Inc., a wholly owned subsidiary of the Company.
| |
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock ) |
| |
|
(End Disclosure - Organization) |
|
Disclosure - Significant Accounting Policies |
Disclosure - Significant Accounting Policies (USD $) |
9 Months Ended |
( AccountingPoliciesAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Significant Accounting Policies |
SIGNIFICANT ACCOUNTING POLICIES
PRINCIPLES OF CONSOLIDATION
The consolidated financial statements include the transactions
of the Company and its subsidiary.
All inter-company accounts and transactions have been
eliminated in consolidation.
DEVELOPMENT STAGE COMPANY
The Company is considered to be
in the development stage as defined in FASC 915-10-05, Development Stage Entity. The Company is devoting substantially
all of its efforts to the execution of its business plan.
USE OF ESTIMATES
The preparation of the Companys
financial statements in conformity with accounting principles generally accepted in the United States 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 amount of revenues and expenses during the reporting period. Actual results
could differ from those estimates. The Companys periodic filings with the Securities and Exchange Commission include, where
applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future
operations of the Company.
COMMON STOCK ISSUED FOR OTHER THAN CASH
Services purchased and other transactions
settled in the Companys common stock and stock options are recorded at the estimated fair value of the stock issued and
options granted if that value is more readily determinable than the fair value of the consideration received.
EARNINGS PER SHARE OF COMMON STOCK
In accordance with accounting guidance
now codified as FASB ASC Topic 260, Earnings per Share, basic earnings (loss) per share is computed by dividing net
income (loss) by weighted average number of shares of common stock outstanding during each period.
Diluted earnings (loss) per share
is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and
potentially dilutive securities outstanding during the period.
The Company had the following potential common stock equivalents
at September 30, 2014:
Common stock warrants 5,500,000
Common stock options 105,000
Total common stock equivalents 5,605,000
Since the Company reflected a net
loss as of September 30, 2014 and December 31, 2013, the effect of considering any common stock equivalents, if outstanding, would
have been anti-dilutive. A separate computation of diluted earnings (loss) per share is not presented.
The following table sets forth the computation of earnings
per share:
|
For the three
months ended
September 30, 2014 |
For the three
months ended
September 30, 2013 |
For the nine
months ended
September 30, 2014 |
For the nine
months ended
September 30, 2013 |
Net income (loss) |
(1,579,095) |
(829,135) |
(4,891,557) |
(2,252,058) |
Weighted average common shares outstanding |
58,005,199 |
52,234,857 |
56,776,286 |
51,706,494 |
Net (loss) per share |
(.03) |
(.02) |
(.09) |
(.04) |
PROPERTY AND EQUIPMENT
The Company records property and equipment at cost and
uses straight-line depreciation methods.
|
Estimated Useful Lives |
September 30, 2014 |
December 31, 2013
|
Computer equipment
Office furniture |
5 years
7 years |
$ 11,634
4,746 |
$ 11,634
4,746 |
|
|
|
|
Less accumulated depreciation |
|
(4,617) |
(2,303) |
|
|
|
|
Net property and equipment |
|
$ 11,763 |
$ 14,077 |
ACCOUNTS RECEIVABLE
The Company had accounts receivable
of $9,450 and $0 as of September 30, 2014 and December 31, 2013, respectively. These receivables consisted of current trade receivables
only and Management has estimated no allowance for bad debts on these amounts.
INVENTORY
The Company has estimated its inventory
valued at the lower of cost or market using the first-in, first-out (FIFO) method. As of September 30, 2014 and December 31, 2013,
inventory consisted of the following:
|
September 30, 2014 |
December 31, 2013 |
Inventories |
|
|
Raw materials |
$ 163,509 |
$ 26,903 |
Work in Process |
52,615 |
- |
Finished goods |
23,630 |
- |
Total Inventory |
$ 239,754 |
$ 26,903 |
As the Company begins its transition
from the Research and development phase to production, management has estimated the cost of units sold to be equal to the revenue
generated on those units. Other direct costs that may be associated with the production of these units has been reflected in Research
and development expenses.
REVENUE RECOGNITION
Sales
revenues are generally recognized when an agreement exists and price is determinable, the products are shipped to the customers,
and allowance and collectability is reasonable assured.
FOREIGN CURRENCY
TRANSLATIONS
The Companys functional
and reporting currency is the US dollar. All transactions initiated in other currencies are translated into US dollars using the
exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated
into the US dollar at the rate of exchange in effect at the balance sheet date. Unrealized exchange gains and losses arising from
such transactions are deferred until realization and are included as a separate component of stockholders equity (deficit)
as a component of other comprehensive income or loss. Upon realization, the amount deferred is recognized in income in the period
when it is realized.
The Company recorded an unrealized
foreign currency translation gain, totaling $0 for the period from January 23, 2007 (Inception) to September 30, 2014, in accumulated
other comprehensive income.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist
of funds on deposit with banks. The Company has no cash equivalents. The Company had funds on deposit of $207,471 at September
30, 2014.
CONCENTRATION OF RISK
Certain financial instruments, which
subject the Company to concentration of credit risk, consist of cash. The Company maintains cash balances at financial institutions,
which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits of $250,000. As of September 30, 2014
and December 31, 2013, the Company had $0 and $1,415,194, respectively, in deposits in excess of federally insured limits in its
US bank. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk
of loss on its cash in bank accounts.
| |
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| |
|
(End Disclosure - Significant Accounting Policies) |
|
Disclosure - Long-Term Debt |
Disclosure - Long-Term Debt (USD $) |
9 Months Ended |
( DebtDisclosureAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Long-Term Debt |
LONG-TERM DEBT
The details concerning long-term debt for the three months
ended September 30, 2014, and the year ended December 31, 2013, follow:
|
September 30,
2014 |
December 31, 2013 |
Note payable to a private party, with interest at 3.0%, with interest only payments due December 31, 2014 and June 30, 2015, with the balance, interest and principal, due December 31, 2015 |
$ 250,000 |
$ - |
Note payable to a Private Party, with interest at 3.0%, with interest only payments due December 31, 2014 and June 30, 2015, with the balance, interest and principal, due December 31, 2015 |
250,000 |
- |
Total |
500,000 |
- |
Less current maturities of long-term debt |
- |
- |
Noncurrent maturities of long-term debt |
$ 500,000 |
$ - |
The Principal Maturities of Notes Payable, by year, are as follows:
2014 |
- |
2015 |
$ 500,000 |
|
$ 500,000 |
| |
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| |
|
(End Disclosure - Long-Term Debt) |
|
Disclosure - Share Capital |
Disclosure - Share Capital (USD $) |
9 Months Ended |
( EquityAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Share Capital |
SHARE CAPITAL
Effective April 22, 2008, the
Company forward-split its issued capital stock on a ratio of 5.8 shares for each prior share. As a result of this transaction,
11,078,000 shares were issued. Effective February 12, 2010, the Company forward-split its issued capital stock on a ratio of 1.65
a share for each 1 old share. As a result of this transaction 8,442,200 shares were issued. Effective February 19, 2010, 3,767,051
shares were issued in a private placement. Consideration for the issue of additional shares has been charged against additional
paid in capital. The forward stock splits adjustments have been reflected retroactively.
Effective April 16, 2010, the
Board of Directors of the Company authorized issuance of 20,000 shares to the members of its Scientific Board at a deemed value
per share of $.90.
Effective June 2, 2011, and December
30, 2011, the Board of Directors of the Company authorized issuance of 3,888 and 13,611 shares to the former consultants at a deemed
value per share of $.90.
Effective June 26, 2012, 200,000
shares were issued in a private placement for the receipt of $200,000.
Effective July 5, 2012, the Companys
subscription agreement was amended to include finders fee of 10% of the amount raised in the future in the form of shares
of restricted common stock.
Effective September 12, 2012,
500,000 shares were issued in a private placement for the receipt of $500,000.
On October 3, 2012, October 12,
2012, November 5, 2012, and December 12, 2012, 250,000 shares each were issued in a private placement for the total receipt of
$1,000,000.
Effective February 7, 2013, 500,000
shares were issued in a private placement for the receipt of $500,000.
Effective March 5, 2013, 150,000
shares were issued in a private placement for the receipt of $150,000.
Effective April 22, 2013, 100,000
shares were issued in a private placement for the receipt of $100,000.
Effective June 4, 2013, 308,000
shares were issued in a private placement for the receipt of $308,000.
Effective July 16, 2013, 300,000
shares were issued in a private placement for the receipt of $300,000.
Effective August 30, 2013, 200,000
shares were issued in a private placement for the receipt of $200,000.
Effective September 11, 2013,
200,000 shares were issued in a private placement for the receipt of $200,000.
Effective September 22, 2013,
300,000 shares were issued in a private placement for the receipt of $300,000.
Effective October 4, 2013, 300,000
shares were issued in a private placement for the receipt of $300,000.
Effective November 8, 2013, 400,000
shares were issued in a private placement for the receipt of $400,000.
Effective December 2, 2013, 400,000
shares were issued in a private placement for the receipt of $400,000.
Effective December 10, 2013,
400,000 shares were issued in a private placement for the receipt of $400,000.
Effective December 30, 2013,
400,000 shares were issued in a private placement for the receipt of $400,000.
Effective January 7, 2014, 400,000
shares were issued in a private placement for the receipt of $400,000.
Effective February 11,
2014, 400,000 shares were issued in a private placement for the receipt of $400,000.
Effective March 6, 2014,
300,000 shares were issued in a private placement for the receipt of $300,000.
Effective May 23, 2014,
100,000 shares were issued in a private placement for the receipt of $100,000.
Effective June 24, 2014,
1,000,000 shares were issued in a private placement for the receipt of $1,000,000.
Effective July 23, 2014,
500,000 shares were issued in a private placement for the receipt of $500,000.
Effective August 29, 2014,
250,000 shares were issued in a private placement for the receipt of $250,000.
Effective September 29,
2014, 150,000 shares were issued in a private placement for the receipt of $150,000.
Effective September 30,
2014, 100,000 shares were issued in a private placement for the receipt of $100,000.
| |
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| |
|
(End Disclosure - Share Capital) |
|
Disclosure - Going Concern and Liquidity Considerations |
Disclosure - Going Concern and Liquidity Considerations (USD $) |
9 Months Ended |
( OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Going Concern and Liquidity Considerations |
GOING CONCERN AND LIQUIDITY
CONSIDERATIONS
The accompanying financial
statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things,
the realization of assets and satisfaction of liabilities in the normal course of business. As of September 30, 2014, the Company
has a working capital deficit of $734,479 and an accumulated deficit of $13,133,804. The Company intends to fund operations through
equity financing arrangements, which should be sufficient to fund its capital expenditures, working capital and other cash requirements
for the next twelve months.
The ability of the Company
to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations,
research, development and production of its product.
In response to these challenges,
management intends to raise additional funds through public or private placement offerings.
The accompanying financial
statements do not include any adjustments that might result from the outcome of this uncertainty.
| |
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| |
|
(End Disclosure - Going Concern and Liquidity Considerations) |
|
Disclosure - Recently Issued Accounting Pronouncements |
Disclosure - Recently Issued Accounting Pronouncements (USD $) |
9 Months Ended |
( OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Recently Issued Accounting Pronouncements |
recently
issued accounting pronouncements
Accounting Standards Updates
(ASU) ASU No. 2014-16 which contain technical corrections to existing guidance or affect guidance to specialized
industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the
financial statements would not have been significant.
| |
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| |
|
(End Disclosure - Recently Issued Accounting Pronouncements) |
|
Disclosure - Provision for Income Taxes |
Disclosure - Provision for Income Taxes (USD $) |
9 Months Ended |
( IncomeTaxDisclosureAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Provision for Income Taxes |
provision
for income taxes
The
Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income,
regardless of when reported for tax purposes. Deferred taxes are provided in the financial statements under ASC Topic 740
to give effect to the resulting temporary differences which may arise from differences in the bases of fixed assets, depreciation
methods, allowances, and start-up costs based on the income taxes expected to be payable in future years. Minimal exploration stage
deferred tax assets arising as a result of net operating loss carry forwards have been offset completely by a valuation allowance
due to the uncertainty of their utilization in future periods. The Company adopted the provisions of ASC Topic 740 Accounting
for Uncertainty in Income Taxes, on January 23, 2007 (inception date). As a result of the implementation of ASC 740, the Company
recognized no increase in the liability for unrecognized tax benefits.
Operating loss carry-forwards generated
during the period of January 23, 2007 (date of inception), through September 30, 2014, of approximately $13,030,322 will begin
to expire in 2027. Accordingly, deferred tax assets of approximately $5,502,973 related to net operating loss carry-forwards, and
$44,332 related to stock-based compensation were offset by the valuation allowance in the same amount. For the nine months ended
September 30, 2014 and 2013, the allowance increased by approximately $2,095,543 and $955,821, respectively.
The Company has no tax positions
at September 30, 2014, or December 31, 2013, for which the ultimate deductibility is highly certain but for which there is uncertainty
about the timing of such deductibility.
The Company recognizes interest
accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company had no accruals
for interest and penalties since inception.
The Company is subject to taxation
in the United States and California. As of September 30, 2014, the Companys tax years for 2011, 2012 and 2013 are subject
to examination by the U.S. and California tax authorities. In addition, the 2010 tax year remains subject to examination by California
tax authorities.
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| |
|
(End Disclosure - Provision for Income Taxes) |
|
Disclosure - Contractual Obligations |
Disclosure - Contractual Obligations (USD $) |
9 Months Ended |
( DebtDisclosureAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Contractual Obligations |
Contractual
obligations
Effective March
1, 2010, the Company entered into Management Agreements with Dr. Leon Rudakov and H. James Graham.
Under the terms of the Employment
Agreement with its then Chief Executive Officer (CEO) and Chief Technology Officer (CTO), Dr. Rudakov was compensated with an annual
salary of $120,000, plus benefits. As of February 1, 2011, the base salary was amended to $170,000 per annum to reflect his current
positions as the President and CTO. The agreement includes other employment benefits. Effective June 1, 2013, the agreement was
amended to reflect a term to December 31, 2018, with an annual salary of $250,000 per annum.
Under the terms of a consulting Agreement,
effective March 1, 2010, Mr. Jim Graham was compensated with annual base fee of $100,000 per annum, plus benefits. As of February
1, 2011, the agreement was amended to reflect Mr. Grahams current positions of Chief Executive Officer, Chief Financial
Officer and Chairman of the Board of Directors to reflect a base annual fee of $180,000 per annum. Effective June 1, 2013, the
agreement was amended to reflect a term to December 31, 2018, with an annual fee of $260,000 per annum.
Effective September 2013, the Company
(Supplier) executed revised Amended and Restated Distribution Agreements (the Agreements) with its
current European Distributors (Distributors) in the Netherlands, Germany, Austria, Switzerland and Italy. The Agreements
grant the Distributor the exclusive right to offer for sale and sell the EOS Systems in the respective territories covered by each
of the Agreements. There is a minimum purchase of products included in each of the Agreements. The new Agreements incorporate a
quality agreement provision as a part of the original Distribution Agreement.
| |
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| |
|
(End Disclosure - Contractual Obligations) |
|
Disclosure - Purchase Agreement |
Disclosure - Purchase Agreement (USD $) |
9 Months Ended |
( HealthCareOrganizationsAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Purchase Agreement |
PURCHASE AGREEMENT
On January 8, 2010, the Company entered
into an asset purchase agreement with Artventive, Inc. a privately held company. The Company purchased substantially all of the
assets of Artventive, Inc., which consisted entirely of patents. The patents were accounted for under SAB Topic 5G using the historical
cost basis of zero. The combination was accounted for under ASC 805 as a business combination.
| |
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| |
|
(End Disclosure - Purchase Agreement) |
|
Disclosure - Warrants and Options |
Disclosure - Warrants and Options (USD $) |
9 Months Ended |
( CompensationAndRetirementDisclosureAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Warrants and Options |
Warrants
and options
During the fiscal year ended December
31, 2013, the Company has granted 4,358,000 warrants to purchase shares of Common Stock which all have a 1 year exercise term,
of which 2,300,000 remain outstanding at September 30, 2014. During the nine months ended September 30, 2014, 3,200,000 warrants
were issued. The issuance of outstanding warrants is detailed below.
Effective July 16 2013, 300,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective October 4 2013, 300,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective October 25, 2013, 400,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective November 8, 2013, 400,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective December 2, 2013, 400,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective December 10, 2013, 400,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective December 30, 2013, 400,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective January 7, 2014, 400,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective February 11, 2014, 400,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective March 6, 2014, 300,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective May 23, 2014, 100,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective June 24, 2014, 1,000,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective July 23, 2014, 500,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective August 29, 2014, 250,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective September 29, 2014, 150,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
Effective September 30, 2014, 100,000
warrants were issued. The warrants allow the purchase of common shares at an exercise price of $1.50. There is no vesting period,
and the warrants expire in 1 year
The Company valued all warrants
utilizing a Black-Scholes option-pricing model and the fair value was recorded in additional paid-in capital.
The following is a summary of the Companys
warrants activity:
|
|
Warrants |
|
Weighted Average Exercise Price |
Exercisable December 31, 2012 |
|
1,500,000 |
|
$ 1.50 |
Granted-2013 |
|
4,358,000 |
|
$ 1.50 |
Exercised-2013 |
|
- |
|
- |
Forfeited-2013 |
|
(1,500,000) |
|
$ 1.50 |
Outstanding December 31, 2013 |
|
4,358,000 |
|
$ 1.50 |
Exercisable December 31, 2013 |
|
4,358,000 |
|
$ 1.50 |
|
|
|
|
|
|
|
Warrants |
|
Weighted Average Exercise Price |
Granted-2014 (at September 30, 2014) |
|
3,200,000 |
|
$ 1.50 |
Exercised-2014 (at September 30, 2014) |
|
- |
|
- |
Forfeited-2014 (at September 30, 2014) |
|
(2,058,000) |
|
$ 1.50 |
Outstanding September 30, 2014 |
|
5,500,000 |
|
$ 1.50 |
Exercisable September 30, 2014 |
|
5,500,000 |
|
$ 1.50 |
Warrants outstanding and exercisable
at September 30, 2014 are as follows:
Warrants Outstanding |
|
Warrants Exercisable |
|
Range of
Exercise Price |
|
Number
Outstanding |
|
Weighted Average
Remaining Contractual
Life (in Years) |
|
Weighted Average
Exercise Price |
|
|
Number
Exercisable |
|
|
Weighted Average
Exercise Price |
|
$ |
1.50 |
|
300,000 |
|
0.01 years |
|
$ |
1.50 |
|
|
|
300,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
400,000 |
|
0.06 years |
|
$ |
1.50 |
|
|
|
400,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
400,000 |
|
0.11 years |
|
$ |
1.50 |
|
|
|
400,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
400,000 |
|
0.16 years |
|
$ |
1.50 |
|
|
|
400,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
400,000 |
|
0.18 years |
|
$ |
1.50 |
|
|
|
400,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
400,000 |
|
0.23 years |
|
$ |
1.50 |
|
|
|
400,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
400,000 |
|
0.26 years |
|
$ |
1.50 |
|
|
|
400,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
400,000 |
|
0.35 years |
|
$ |
1.50 |
|
|
|
400,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
300,000 |
|
0.43 years |
|
$ |
1.50 |
|
|
|
300,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
100,000 |
|
0.64 years |
|
$ |
1.50 |
|
|
|
100,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
1,000,000 |
|
0.73 years |
|
$ |
1.50 |
|
|
|
1,000,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
500.000 |
|
0.81 years |
|
$ |
1.50 |
|
|
|
500,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
250.000 |
|
0.90 years |
|
$ |
1.50 |
|
|
|
250,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
150.000 |
|
0.96 years |
|
$ |
1.50 |
|
|
|
150,000 |
|
|
$ |
1.50 |
|
$ |
1.50 |
|
100,000 |
|
1.00 years |
|
$ |
1.50 |
|
|
|
100,000 |
|
|
$ |
1.50 |
|
Effective November 2, 2010 the
Board of Directors of the Company granted 50,000 non-statutory stock options to a former consultant at an exercise price of $.001
per share with the vesting date of November 2, 2013 and an expiration date of November 2, 2016.
Effective February 1, 2013 the
Board of Directors of the Company granted 20,000 non-statutory stock options to a current consultant at an exercise price of $1.00
per share with the vesting date of February 1, 2013 and an expiration date of February 1, 2018.
Effective February 1, 2013 the
Board of Directors of the Company granted 5,000 non-statutory stock options to a current consultant at an exercise price of $1.00
per share with the vesting date of February 1 2013 and an expiration date of February 1, 2018.
Effective February 1, 2013 the
Board of Directors of the Company granted 10,000 non-statutory stock options to a current consultant at an exercise price of $1.00
per share with the vesting date of February 1 2013 and an expiration date of February 1, 2018.
Effective March 1, 2013 the Board
of Directors of the Company granted 10,000 non-statutory stock options to a current consultant at an exercise price of $1.00 per
share with the vesting date of March 1, 2013 and an expiration date of March 1, 2018.
Effective December 27, 2013 the
Board of Directors of the Company granted 10,000 non-statutory stock options to a current consultant at an exercise price of $1.00
per share with the vesting date of December 27, 2013 and an expiration date of December 27, 2018.
During the period that the options
were issued, the Company had no public trading activity for the Companys common stock. However, the majority shareholder
sold in private transactions shares at $.90 per share. In order to value the Companys options, the Company chose to use
the minimum value method, even though the Company is a public company since there was no measurable trading activity. The fair
value of the options was recorded in additional paid-in capital.
Options outstanding and exercisable
at September 30, 2014 are as follows:
|
|
Options |
|
Weighted
Average Exercise Price |
Exercisable December 31, 2012 |
|
50,000 |
|
$ 0.001 |
Granted-2013 |
|
55,000 |
|
$ 1.00 |
Exercised-2013 |
|
- |
|
- |
Forfeited-2013 |
|
- |
|
- |
Outstanding December 31, 2013 |
|
105,000 |
|
$ 0.524 |
Exercisable December 31, 2013 |
|
105,000 |
|
$ 0.524 |
|
|
Options |
|
Weighted Average Exercise Price |
Granted-2014 (at September 30, 2014) |
|
- |
|
$ - |
Exercised-2014 (at September 30, 2014) |
|
- |
|
- |
Forfeited-2014 (at September 30, 2014) |
|
- |
|
$ - |
Outstanding September 30, 2014 |
|
105,000 |
|
$ 0.524 |
Exercisable September 30, 2014 |
|
105,000 |
|
$ 0.524 |
Options outstanding
and exercisable at September 30, 2014 are as follows:
Options Outstanding |
|
Options Exercisable |
|
|
Range of
Exercise Price |
|
Number
Outstanding |
|
Weighted Average
Remaining Contractual
Life (in Years) |
|
Weighted Average
Exercise Price |
|
|
Number
Exercisable |
|
|
Weighted Average
Exercise Price |
|
$ |
0.001 |
|
50,000 |
|
2.09 years |
|
$ |
0.001 |
|
|
|
50,000 |
|
|
$ |
0.001 |
|
$ |
1.000 |
|
35,000 |
|
3.34 years |
|
$ |
1.000 |
|
|
|
35,000 |
|
|
$ |
1.000 |
$ |
1.000 |
|
10,000 |
|
3.42 years |
|
$ |
1.000 |
|
|
|
10,000 |
|
|
$ |
1.000 |
$ |
1.000 |
|
10,000 |
|
4.24 years |
|
$ |
1.000 |
|
|
|
10,000 |
|
|
$ |
1.000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During the period that the options
were issued, the Company had no public trading activity for the Companys common stock. However, the majority shareholder
sold in private transactions shares at $.90 per share. In order to value the Companys options, the Company chose to use
the minimum value method, even though the Company is a public company since there was no measurable trading activity. The fair
value of the options was recorded in additional paid-in capital.
| |
( us-gaap:CompensationAndEmployeeBenefitPlansTextBlock ) |
| |
|
(End Disclosure - Warrants and Options) |
|
Disclosure - Subsequent Events |
Disclosure - Subsequent Events (USD $) |
9 Months Ended |
( SubsequentEventsAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Subsequent Events |
SUBSEQUENT
EVENTS
The Company evaluated all events
or transactions that occurred after September 30, 2014, up through the date these consolidated financial statements were issued
and determined there are no significant events to disclose.
| |
( us-gaap:SubsequentEventsTextBlock ) |
| |
|
(End Disclosure - Subsequent Events) |
|
Disclosure - Significant Accounting Policies (Policies) |
Disclosure - Significant Accounting Policies (Policies) (USD $) |
9 Months Ended |
( AccountingPoliciesAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Principles of Consolidation |
PRINCIPLES OF CONSOLIDATION
The consolidated financial statements include the transactions
of the Company and its subsidiary.
All inter-company accounts and transactions have been
eliminated in consolidation. | |
( us-gaap:ConsolidationPolicyTextBlock ) |
| |
DEVELOPMENT STAGE COMPANY |
DEVELOPMENT STAGE COMPANY
The Company is considered to be
in the development stage as defined in FASC 915-10-05, Development Stage Entity. The Company is devoting substantially
all of its efforts to the execution of its business plan. | |
( us-gaap:DevelopmentStageEnterpriseGeneralDisclosuresTextBlock ) |
| |
USE OF ESTIMATES |
USE OF ESTIMATES
The preparation of the Companys
financial statements in conformity with accounting principles generally accepted in the United States 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 amount of revenues and expenses during the reporting period. Actual results
could differ from those estimates. The Companys periodic filings with the Securities and Exchange Commission include, where
applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future
operations of the Company. | |
( us-gaap:UseOfEstimates ) |
| |
COMMON STOCK ISSUED FOR OTHER THAN CASH |
COMMON STOCK ISSUED FOR OTHER THAN CASH
Services purchased and other transactions
settled in the Companys common stock and stock options are recorded at the estimated fair value of the stock issued and
options granted if that value is more readily determinable than the fair value of the consideration received. | |
( us-gaap:ShareholdersEquityAndShareBasedPaymentsTextBlock ) |
| |
EARNINGS PER SHARE OF COMMON STOCK |
EARNINGS PER SHARE OF COMMON STOCK
In accordance with accounting guidance
now codified as FASB ASC Topic 260, Earnings per Share, basic earnings (loss) per share is computed by dividing net
income (loss) by weighted average number of shares of common stock outstanding during each period.
Diluted earnings (loss) per share
is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and
potentially dilutive securities outstanding during the period.
The Company had the following potential common stock equivalents
at September 30, 2014:
Common stock warrants 5,500,000
Common stock options 105,000
Total common stock equivalents 5,605,000
Since the Company reflected a net
loss as of September 30, 2014 and December 31, 2013, the effect of considering any common stock equivalents, if outstanding, would
have been anti-dilutive. A separate computation of diluted earnings (loss) per share is not presented.
The following table sets forth the computation of earnings
per share:
|
For the three
months ended
September 30, 2014 |
For the three
months ended
September 30, 2013 |
For the nine
months ended
September 30, 2014 |
For the nine
months ended
September 30, 2013 |
Net income (loss) |
(1,579,095) |
(829,135) |
(4,891,557) |
(2,252,058) |
Weighted average common shares outstanding |
58,005,199 |
52,234,857 |
56,776,286 |
51,706,494 |
Net (loss) per share |
(.03) |
(.02) |
(.09) |
(.04) |
| |
( us-gaap:EarningsPerSharePolicyTextBlock ) |
| |
PROPERTY AND EQUIPMENT |
PROPERTY AND EQUIPMENT
The Company records property and equipment at cost and
uses straight-line depreciation methods.
|
Estimated Useful Lives |
September 30, 2014 |
December 31, 2013
|
Computer equipment
Office furniture |
5 years
7 years |
$ 11,634
4,746 |
$ 11,634
4,746 |
|
|
|
|
Less accumulated depreciation |
|
(4,617) |
(2,303) |
|
|
|
|
Net property and equipment |
|
$ 11,763 |
$ 14,077 |
| |
( us-gaap:PropertyPlantAndEquipmentPolicyTextBlock ) |
| |
ACCOUNTS RECEIVABLE |
ACCOUNTS RECEIVABLE
The Company had accounts receivable
of $9,450 and $0 as of September 30, 2014 and December 31, 2013, respectively. These receivables consisted of current trade receivables
only and Management has estimated no allowance for bad debts on these amounts. | |
( us-gaap:ReceivablesPolicyTextBlock ) |
| |
INVENTORY |
INVENTORY
The Company has estimated its inventory
valued at the lower of cost or market using the first-in, first-out (FIFO) method. As of September 30, 2014 and December 31, 2013,
inventory consisted of the following:
|
September 30, 2014 |
December 31, 2013 |
Inventories |
|
|
Raw materials |
$ 163,509 |
$ 26,903 |
Work in Process |
52,615 |
- |
Finished goods |
23,630 |
- |
Total Inventory |
$ 239,754 |
$ 26,903 |
As the Company begins its transition
from the Research and development phase to production, management has estimated the cost of units sold to be equal to the revenue
generated on those units. Other direct costs that may be associated with the production of these units has been reflected in Research
and development expenses. | |
( us-gaap:InventoryPolicyTextBlock ) |
| |
REVENUE RECOGNITION |
REVENUE RECOGNITION
Sales
revenues are generally recognized when an agreement exists and price is determinable, the products are shipped to the customers,
and allowance and collectability is reasonable assured. | |
( us-gaap:RevenueRecognitionPolicyTextBlock ) |
| |
FOREIGN CURRENCY TRANSLATIONS |
FOREIGN CURRENCY
TRANSLATIONS
The Companys functional
and reporting currency is the US dollar. All transactions initiated in other currencies are translated into US dollars using the
exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated
into the US dollar at the rate of exchange in effect at the balance sheet date. Unrealized exchange gains and losses arising from
such transactions are deferred until realization and are included as a separate component of stockholders equity (deficit)
as a component of other comprehensive income or loss. Upon realization, the amount deferred is recognized in income in the period
when it is realized.
The Company recorded an unrealized
foreign currency translation gain, totaling $0 for the period from January 23, 2007 (Inception) to September 30, 2014, in accumulated
other comprehensive income. | |
( us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock ) |
| |
CASH AND CASH EQUIVALENTS |
CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist
of funds on deposit with banks. The Company has no cash equivalents. The Company had funds on deposit of $207,471 at September
30, 2014. | |
( us-gaap:CashAndCashEquivalentsPolicyTextBlock ) |
| |
CONCENTRATION OF RISK |
CONCENTRATION OF RISK
Certain financial instruments, which
subject the Company to concentration of credit risk, consist of cash. The Company maintains cash balances at financial institutions,
which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits of $250,000. As of September 30, 2014
and December 31, 2013, the Company had $0 and $1,415,194, respectively, in deposits in excess of federally insured limits in its
US bank. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk
of loss on its cash in bank accounts. | |
( us-gaap:FairValueConcentrationOfRiskTextBlock ) |
| |
|
(End Disclosure - Significant Accounting Policies (Policies)) |
|
Disclosure - Significant Accounting Policies (Tables) |
Disclosure - Significant Accounting Policies (Tables) (USD $) |
9 Months Ended |
( AccountingPoliciesAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Computation of Earnings Per Share |
|
For the three
months ended
September 30, 2014 |
For the three
months ended
September 30, 2013 |
For the nine
months ended
September 30, 2014 |
For the nine
months ended
September 30, 2013 |
Net income (loss) |
(1,579,095) |
(829,135) |
(4,891,557) |
(2,252,058) |
Weighted average common shares outstanding |
58,005,199 |
52,234,857 |
56,776,286 |
51,706,494 |
Net (loss) per share |
(.03) |
(.02) |
(.09) |
(.04) |
| |
( us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock ) |
| |
Schedule of Inventory Values |
|
September 30, 2014 |
December 31, 2013 |
Inventories |
|
|
Raw materials |
$ 163,509 |
$ 26,903 |
Work in Process |
52,615 |
- |
Finished goods |
23,630 |
- |
Total Inventory |
$ 239,754 |
$ 26,903 |
| |
( us-gaap:ScheduleOfInventoryCurrentTableTextBlock ) |
| |
|
(End Disclosure - Significant Accounting Policies (Tables)) |
|
Disclosure - Going Concern and Liquidity Considerations (Details Narrative) |
Disclosure - Going Concern and Liquidity Considerations (Details Narrative) (USD $) |
|
( OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Accumulated Deficit |
13,133,804 | |
( us-gaap:AccumulatedOtherComprehensiveIncomeLossBeforeTax1 ) |
| |
|
(End Disclosure - Going Concern and Liquidity Considerations (Details Narrative)) |
|
Disclosure - Provision for Income Taxes (Details Narrative) |
Disclosure - Provision for Income Taxes (Details Narrative) (USD $) |
|
( IncomeTaxDisclosureAbstract ) |
|
|
Sep. 30, 2014 |
|
|
|
|
|
|
Operating Loss Carry-Forward |
13,030,322 | |
( us-gaap:DeferredTaxAssetsOperatingLossCarryforwards ) |
| |
Deferred tax assets |
5,502,973 | |
( us-gaap:DeferredIncomeTaxesAndOtherAssetsCurrent ) |
| |
|
(End Disclosure - Provision for Income Taxes (Details Narrative)) |
Contexts |
ID |
Period |
CIK |
Dimensions |
From2014-01-01to2014-09-30 |
2014-01-01 - 2014-09-30 |
0001405249 |
|
AsOf2014-10-08 |
2014-10-08 |
0001405249 |
|
AsOf2014-09-30 |
2014-09-30 |
0001405249 |
|
AsOf2013-12-31 |
2013-12-31 |
0001405249 |
|
From2014-07-01to2014-09-30 |
2014-07-01 - 2014-09-30 |
0001405249 |
|
From2013-07-01to2013-09-30 |
2013-07-01 - 2013-09-30 |
0001405249 |
|
From2013-01-01to2013-09-30 |
2013-01-01 - 2013-09-30 |
0001405249 |
|
From2007-01-23to2014-09-30 |
2007-01-23 - 2014-09-30 |
0001405249 |
|
AsOf2012-12-31 |
2012-12-31 |
0001405249 |
|
AsOf2013-09-30 |
2013-09-30 |
0001405249 |
|
AsOf2007-01-22 |
2007-01-22 |
0001405249 |
|
|
(End Contexts) |
|
Elements |
|
|
|
|
|
|
|
|
|
Element |
Data Type |
Period Type |
Balance Type |
Custom |
AccountingPoliciesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
CompensationAndRetirementDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
DebtDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
EquityAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
HealthCareOrganizationsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
IncomeTaxDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
SubsequentEventsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
custom:DocumentAndEntityInformationAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes (Auto) |
|
|
|
dei:AmendmentFlag |
xbrli:booleanItemType |
| Duration |
| |
| |
|
If the value is true, then the document is an amendment to previously-filed/accepted document. |
|
dei:CurrentFiscalYearEndDate |
xbrli:gMonthDayItemType |
| Duration |
| |
| |
|
End date of current fiscal year in the format --MM-DD. |
|
dei:DocumentFiscalPeriodFocus |
dei:fiscalPeriodItemType |
| Duration |
| |
| |
|
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. |
|
dei:DocumentFiscalYearFocus |
xbrli:gYearItemType |
| Duration |
| |
| |
|
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. |
|
dei:DocumentPeriodEndDate |
xbrli:dateItemType |
| Duration |
| |
| |
|
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. |
|
dei:DocumentType |
dei:submissionTypeItemType |
| Duration |
| |
| |
|
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". |
|
dei:EntityCentralIndexKey |
dei:centralIndexKeyItemType |
| Duration |
| |
| |
|
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. |
|
dei:EntityCommonStockSharesOutstanding |
xbrli:sharesItemType |
| Instant |
| |
| |
|
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. |
|
dei:EntityCurrentReportingStatus |
dei:yesNoItemType |
| Duration |
| |
| |
|
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. |
|
dei:EntityFilerCategory |
dei:filerCategoryItemType |
| Duration |
| |
| |
|
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. |
|
dei:EntityPublicFloat |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. |
|
dei:EntityRegistrantName |
xbrli:normalizedStringItemType |
| Duration |
| |
| |
|
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. |
|
dei:EntityVoluntaryFilers |
dei:yesNoItemType |
| Duration |
| |
| |
|
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. |
|
dei:EntityWellKnownSeasonedIssuer |
dei:yesNoItemType |
| Duration |
| |
| |
|
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. |
|
us-gaap:AccountsPayableCurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). |
|
us-gaap:AccountsReceivableNet |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. |
|
us-gaap:AccruedLiabilitiesCurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). |
|
us-gaap:AccruedLiabilitiesCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. |
|
us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. |
|
us-gaap:AccumulatedOtherComprehensiveIncomeLossBeforeTax1 |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount before tax of increase (decrease) in accumulated in equity from transactions and other events and circumstances from non-owner sources. Excludes net income (loss), and accumulated changes in equity from transactions resulting from investments by owners (distributions to owners). |
|
us-gaap:AdditionalPaidInCapital |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. |
|
us-gaap:AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The aggregate amount of adjustments to net income or loss necessary to remove the effects of all items whose cash effects are investing or financing cash flows. The aggregate amount also includes all noncash expenses and income items which reduce or increase net income and are thus added back or deducted when calculating cash provided by or used in operating activities. |
|
us-gaap:AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of increase (decrease) in additional paid in capital (APIC) resulting from recognition of deferred taxes for convertible debt with a beneficial conversion feature. |
|
us-gaap:AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Adjustment to additional paid in capital resulting from the recognition of convertible debt instruments as two separate components - a debt component and an equity component. This bifurcation may result in a basis difference associated with the liability component that represents a temporary difference for purposes of applying accounting for income taxes. The initial recognition of deferred taxes for the tax effect of that temporary difference is as an adjustment to additional paid in capital. |
|
us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:Assets |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. |
|
us-gaap:AssetsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:AssetsCurrent |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. |
|
us-gaap:AssetsCurrentAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:BasisOfAccounting |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for the basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). |
|
us-gaap:BusinessAndContractualArrangementsDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for prepaid health care service provider's significant business and contractual arrangements with hospitals, physicians, or other associated entities. |
|
us-gaap:Cash |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. |
|
us-gaap:CashAndCashEquivalentsAtCarryingValue |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. |
|
us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. |
|
us-gaap:CashAndCashEquivalentsPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. |
|
us-gaap:CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:CommonStockParOrStatedValuePerShare |
num:perShareItemType |
| Instant |
| |
| |
|
Face amount or stated value per share of common stock. |
|
us-gaap:CommonStockSharesAuthorized |
xbrli:sharesItemType |
| Instant |
| |
| |
|
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. |
|
us-gaap:CommonStockSharesIssued |
xbrli:sharesItemType |
| Instant |
| |
| |
|
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. |
|
us-gaap:CompensationAndEmployeeBenefitPlansTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. |
|
us-gaap:ComprehensiveIncomeNetOfTax |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. |
|
us-gaap:ConsolidationPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. |
|
us-gaap:CostOfGoodsSold |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Total costs related to goods produced and sold during the reporting period. |
|
us-gaap:DebtDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. |
|
us-gaap:DeferredIncomeTaxesAndOtherAssetsCurrent |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and other assets expected to be realized or consumed within one year or normal operating cycle, if longer. |
|
us-gaap:DeferredTaxAssetsOperatingLossCarryforwards |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. |
|
us-gaap:Deposits |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
The aggregate of all deposit liabilities held by the entity, including foreign and domestic, interest and noninterest bearing; may include demand deposits, saving deposits, Negotiable Order of Withdrawal (NOW) and time deposits among others. |
|
us-gaap:Depreciation |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. |
|
us-gaap:DepreciationAndAmortization |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. |
|
us-gaap:DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Cumulative net losses reported during the development stage. |
|
us-gaap:DevelopmentStageEnterpriseGeneralDisclosuresTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for all or part of the detailed information required for development stage enterprises. The information may also be disclosed on an element-by-element basis. Information may include an identification of the current or prior year financial statements of the entity, its development stage subsidiaries, or its investees as those of one or more development stage enterprises; a description of the nature of the development stage activities in which each enterprise is engaged; and in the first fiscal year in which each enterprise is no longer considered a development stage enterprise, a statement that in prior years the enterprise had been in the development stage. |
|
us-gaap:EarningsPerSharePolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. |
|
us-gaap:ExplorationCosts |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The capitalized costs incurred during the period (excluded from amortization) in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. Exploration costs also include costs o |
|
us-gaap:FairValueConcentrationOfRiskTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's acc |
|
us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. |
|
us-gaap:GrossProfit |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. |
|
us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare |
num:perShareItemType |
| Duration |
| |
| |
|
The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares. |
|
us-gaap:IncomeStatementAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:IncomeTaxDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. |
|
us-gaap:IncomeTaxExpenseBenefit |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. |
|
us-gaap:IncreaseDecreaseInAccountsPayable |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. |
|
us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. |
|
us-gaap:IncreaseDecreaseInAccountsReceivable |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. |
|
us-gaap:IncreaseDecreaseInDeposits |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The net cash inflow or outflow for the increase (decrease) in the beginning and end of period deposits balances. |
|
us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. |
|
us-gaap:IncreaseDecreaseInInventories |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. |
|
us-gaap:IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:IncreaseDecreaseInPrepaidExpense |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. |
|
us-gaap:InterestAndDividendIncomeOperating |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. |
|
us-gaap:InventoryGross |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Gross amount, as of the balance sheet date, of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. |
|
us-gaap:InventoryPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. |
|
us-gaap:LiabilitiesAndStockholdersEquity |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. |
|
us-gaap:LiabilitiesAndStockholdersEquityAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:LiabilitiesCurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. |
|
us-gaap:LiabilitiesCurrentAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:LiquidityDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for reporting when there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substa |
|
us-gaap:LongTermDebtAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:LongTermDebtNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. |
|
us-gaap:LongTermDebtTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for long-term debt. |
|
us-gaap:NetCashProvidedByUsedInContinuingOperations |
xbrli:monetaryItemType |
| Duration |
| |
| |
|
The increase (decrease) in cash associated with the entity's continuing operating, investing, and financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. |
|
us-gaap:NetCashProvidedByUsedInFinancingActivities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. |
|
us-gaap:NetCashProvidedByUsedInFinancingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:NetCashProvidedByUsedInInvestingActivities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. |
|
us-gaap:NetCashProvidedByUsedInInvestingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:NetCashProvidedByUsedInOperatingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:NetIncomeLoss |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. |
|
us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). |
|
us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. |
|
us-gaap:NotesPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. |
|
us-gaap:OperatingExpensesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OperatingIncomeLoss |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The net result for the period of deducting operating expenses from operating revenues. |
|
us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. |
|
us-gaap:OtherAssets |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. |
|
us-gaap:OtherAssetsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OtherIncomeAndExpensesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OtherNoncashIncomeExpense |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. |
|
us-gaap:PaymentsOfStockIssuanceCosts |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The cash outflow for cost incurred directly with the issuance of an equity security. |
|
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. |
|
us-gaap:PrepaidExpenseCurrent |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer. |
|
us-gaap:ProceedsFromIssuanceOrSaleOfEquity |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity. |
|
us-gaap:ProceedsFromNotesPayable |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow from a borrowing supported by a written promise to pay an obligation. |
|
us-gaap:PropertyPlantAndEquipmentAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:PropertyPlantAndEquipmentDisposals |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. |
|
us-gaap:PropertyPlantAndEquipmentNet |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. |
|
us-gaap:PropertyPlantAndEquipmentOther |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount before accumulated depreciation, depletion and amortization of other physical assets used in the normal conduct of business to produce goods and services and not intended for resale. |
|
us-gaap:PropertyPlantAndEquipmentPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. |
|
us-gaap:ReceivablesPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables. |
|
us-gaap:RepaymentsOfConvertibleDebt |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The cash outflow from the repayment of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. |
|
us-gaap:ResearchAndDevelopmentExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. |
|
us-gaap:RevenueRecognitionPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. |
|
us-gaap:Revenues |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). |
|
us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. |
|
us-gaap:ScheduleOfInventoryCurrentTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. |
|
us-gaap:SellingGeneralAndAdministrativeExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. |
|
us-gaap:ShareholdersEquityAndShareBasedPaymentsTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. |
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us-gaap:SignificantAccountingPoliciesTextBlock |
nonnum:textBlockItemType |
| Duration |
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| |
|
The entire disclosure for all significant accounting policies of the reporting entity. |
|
us-gaap:StatementOfCashFlowsAbstract |
xbrli:stringItemType |
| Duration |
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| |
|
|
|
us-gaap:StatementOfFinancialPositionAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:StockholdersEquity |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. |
|
us-gaap:StockholdersEquityAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:StockholdersEquityNoteDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. |
|
us-gaap:SubsequentEventsTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. |
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us-gaap:UseOfEstimates |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. |
|
us-gaap:WeightedAverageBasicSharesOutstandingProForma |
xbrli:sharesItemType |
| Duration |
| |
| |
|
The weighted average number of shares (units) outstanding in the calculation of pro forma basic earnings per share (earnings per unit), which is commonly presented in initial public offerings based on the terms of the offering. |
|
Total Elements |
|
133 |
Total Non-Abstract Elements |
|
105 |
Total Extension Elements |
|
1 |
Percent Extended |
|
0% |
Percent Extended (excluding abstracts) |
|
0% |
|
(End Elements) |