JERRICK MEDIA HOLDINGS, INC., 10-Q filed on 5/15/2015
Quarterly Report
Document and Entity Information
3 Months Ended
Mar. 31, 2015
May 13, 2015
Document and Entity Information
 
 
Entity Registrant Name
Great Plains Holdings, Inc. 
 
Document Type
10-Q 
 
Document Period End Date
Mar. 31, 2015 
 
Amendment Flag
false 
 
Entity Central Index Key
0001357671 
 
Current Fiscal Year End Date
--12-31 
 
Entity Common Stock, Shares Outstanding
 
8,321,655 
Entity Filer Category
Smaller Reporting Company 
 
Entity Current Reporting Status
Yes 
 
Entity Voluntary Filers
No 
 
Entity Well-known Seasoned Issuer
No 
 
Document Fiscal Year Focus
2015 
 
Document Fiscal Period Focus
Q1 
 
Entity Incorporation, State Country Name
Nevada 
 
Entity Incorporation, Date of Incorporation
Dec. 30, 1999 
 
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2015
Dec. 31, 2014
Current Assets
 
 
Cash and Cash Equivalents
$ 643,657 
$ 969,094 
Assets held for discontinued operations
4,677 
1,737 
Total Current Assets
648,334 
970,831 
Property and Equipment
 
 
Property and Equipment
381,163 
323,842 
Less: Accumulated Depreciation
(10,000)
(6,814)
Land
72,105 
58,201 
Net Property and Equipment
443,268 
375,229 
Other Assets
 
 
Deposits
5,000 
11,500 
Total Other Assets
5,000 
11,500 
Total Assets
1,096,602 
1,357,560 
Current Liabilities
 
 
Accounts Payable and Accrued Expenses
195 
22,726 
Convertible Debt (net of discount of $0 and $44,810)
 
66,190 
Liabilities held for discontinued operations
 
Total Current Liabilities
195 
88,925 
Long-Term Liabilities
 
 
Refundable Deposits
1,950 
1,450 
Total Long-Term Liabilities
1,950 
1,450 
Total Liabilities
2,145 
90,375 
Stockholders' Equity
 
 
Common stock, 300,000,000 shares authorized, $.001 par value, 8,321,655 and 8,040,625 shares issued and outstanding, respectively
8,322 
8,041 
Additional Paid in Capital
1,961,592 
1,951,063 
Accumulated deficit
(875,477)
(691,939)
Total Stockholders' Equity
1,094,457 
1,267,185 
Total Liabilities and Stockholders' Equity
1,096,602 
1,357,560 
Series A Preferred Stock
 
 
Stockholders' Equity
 
 
Preferred Stock
10 
10 
Series B Preferred Stock
 
 
Stockholders' Equity
 
 
Preferred Stock
$ 10 
$ 10 
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Convertible Debt Discount
 
$ 44,810 
Preferred stock par value
$ 0.001 
 
Preferred stock shares authorized
20,000,000 
 
Preferred stock shares issued
10,000 
 
Preferred stock shares outstanding
10,000 
 
Common stock par value
$ 0.001 
$ 0.001 
Common stock shares authorized
300,000,000 
300,000,000 
Common stock shares issued
8,321,655 
8,040,625 
Common stock shares outstanding
8,321,655 
8,040,625 
Series A Preferred Stock
 
 
Preferred stock par value
$ 0.001 
$ 0.001 
Preferred stock shares authorized
20,000,000 
20,000,000 
Preferred stock shares issued
10,000 
10,000 
Preferred stock shares outstanding
10,000 
10,000 
Series B Preferred Stock
 
 
Preferred stock par value
$ 0.001 
$ 0.001 
Preferred stock shares authorized
20,000,000 
20,000,000 
Preferred stock shares issued
10,000 
10,000 
Preferred stock shares outstanding
10,000 
10,000 
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Sales
 
 
Rent Revenue
$ 11,097 
$ 1,350 
Total Sales
11,097 
1,350 
Operating Expenses
 
 
Depreciation and Amortization
3,186 
1,716 
General and Administrative
99,978 
60,337 
Impairment loss on investment
17,788 
Total Operating Expenses
120,952 
61,439 
Operating Loss
(109,855)
(60,089)
Other Income (Expenses)
 
 
Interest expense
(76,912)
 
Investment Income
281 
 
Total Other Income (Expenses)
(76,631)
 
Net Loss from Continuing Operations before Income Taxes
(186,486)
(60,089)
Net Loss from Continuing Operations
(186,486)
(60,089)
Income (Loss) on discontinued operations - net of tax
2,948 
(6,167)
Net Loss
$ (183,538)
$ (66,256)
Loss per share of common stock (basic and diluted) continuing operations
$ (0.02)
$ (0.01)
Loss per share of common stock (basic and diluted) discontinued operations
$ 0.00 
$ 0.00 
Total loss per share of common stock (basic and diluted)
$ (0.02)
$ (0.01)
Weighted average shares outstanding (basic and diluted)
8,030,625 
8,030,625 
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash Flows From Operating Activities
 
 
Net Income (Loss)
$ (183,538)
$ (66,256)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
 
 
Depreciation and Amortization
3,186 
1,716 
Debt discount amortization
44,809 
 
Impairment loss on investment
17,788 
Change in Operating Assets and Liabilities:
 
 
Change in prepaid assets
 
2,875 
Change in interest receivable
(88)
(600)
Change in accounts payable and accrued expenses
(22,531)
(7,504)
Change in refundable deposits
500 
 
Net Cash Used In Continuing Operating Activities
(139,874)
(69,769)
Net Cash Used In Discontinued Operating Activities
(2,948)
1,365 
Net Cash Used In Operating Activities:
(142,822)
(68,404)
Cash Flows From Investing Activities
 
 
Purchases of Property and Equipment
(72,416)
(117,229)
Deposits
(5,000)
 
Payment for Loan
(6,200)
 
Net Cash Used In Continuing Investing Activities
(83,616)
(117,229)
Net Cash Used In Discontinued Investing Activities
   
   
Net Cash Used In Investing Activities:
(83,616)
(117,229)
Cash Flows From Financing Activities
 
 
Repayment of Convertible Debt
(98,999)
 
Proceeds from the issuance of preferred stock
 
1,000 
Proceeds from the issuance of common stock
 
12,000 
Net Cash Provided By (Used In) Continuing Financing Activities
(98,999)
13,000 
Net Cash Used In Discontinued Financing Activities
   
   
Net Cash Provided By (Used In) Financing Activities:
(98,999)
13,000 
Net Change in Cash & Cash Equivalents
(325,437)
(172,633)
Beginning Cash & Cash Equivalents
969,094 
1,479,152 
Ending Cash & Cash Equivalents
643,657 
1,306,519 
CASH PAID FOR:
 
 
Interest
34,489 
 
Taxes
   
   
Supplemental Disclosures of Noncash Investing and Financing Activities
 
 
Amount allocated to APIC associated with the purchase of real estate between entities under common control
(1,190)
 
Stock issued upon conversion of debt to equity
$ 12,000 
 
Note 1 - Organization
Note 1 - Organization

Note 1 - Organization

 

Great Plains Holdings, Inc. (the “Company”) was incorporated under the laws of the state of Nevada on December 30, 1999 under the name LILM, Inc. The Company changed its name on December 3, 2013 as part of its plans to diversify its business through the acquisition and operation of commercial real estate, including but not limited to self-storage facilities, apartment buildings, 55+ senior manufactured homes communities, and other income producing properties.  Historically, the Company has principally engaged in manufacture and marketing of the LiL Marc urinal used in the training of young boys, but is changing its focus to residential and commercial rental real estate as well as exploring other business opportunities.

 

The accompanying unaudited consolidated financial statements have been prepared by the Company’s management in conformity with accounting principles generally accepted in the United States of America. The consolidated financial statements are prepared in accordance with the requirements for unaudited interim periods, and consequently, do not include all disclosures required to be made in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

 

Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that can be expected for the year ending December 31, 2015.

Note 2 - Summary of Significant Accounting Policies
Note 2 - Summary of Significant Accounting Policies

Note 2 - Summary of Significant Accounting Policies

 

Use of Estimates

We use estimates and assumptions in preparing financial statements.  Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.  Actual results could differ from those estimates.

 

Fair Value of Financial Instruments

The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than a forced sale or liquidation. Significant differences can arise between the fair value and carrying amount of financial instruments that are recognized at historical cost amounts. The carrying value of the company’s financial assets and liabilities approximate the fair value of the short maturity of those instruments.

 

Accounting Method

The Company recognizes income and expenses based on the accrual method of accounting.

 

Advertising

The Company expenses all advertising costs as they are incurred.

 

Cash and Cash Equivalents

Cash and cash equivalents are defined as demand deposits, money market accounts and overnight investments at banks.  Cash is maintained in banks insured by the FDIC for an aggregate of up to $250,000.  The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.

 

Concentrations of Risk

Financial Instruments which potentially subject the Company to concentrations of risk consist primarily of cash and cash equivalents.  The Company places its cash and cash equivalents with major financial institutions.  At March 31, 2015, the Company has $376,606 in excess of federally insured limits.

 

Dividend Policy

The Company has not yet adopted a policy regarding dividends.

 

Income Taxes

The Company utilizes the liability method of accounting for income taxes.  Under the liability method deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to reverse.  An allowance against deferred tax assets is recorded when it is more likely than not that such tax benefits will not be realized.

 

Impairment of Long-lived Assets

The Company reviews long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. The Company reviews long-lived assets for impairment at the individual asset or the asset group level for which the lowest level of independent cash flows can be identified.  

 

Long Term Investments

Non-marketable equity investments are carried at cost.  Investments held by the Company are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of the investment may not be recoverable.  In the event that facts and circumstances indicate that the cost may be impaired, an evaluation of recoverability would be performed. Impairment expense of $17,788 and $0 has been recorded on long-lived assets for the periods ended March 31, 2015 and 2014, respectively.

 

Principles of Consolidation

The accompanying consolidated financials include the accounts of the Company and its subsidiaries from its inception.  All significant intercompany accounts and balances have been eliminated in consolidation.

 

Property & Equipment

Property and equipment are stated at cost.  The Company provides for depreciation and amortization using the straight-line method over the estimated useful lives of the various classes of property, as follows:

 

Machinery & Equipment

5 to 7 years

Furniture & Fixtures

5 to 7 years

Improvements

10 to 20 years

Building

40 years

Income Producing Properties 

40 years

 

Expenditures for additions, improvements and betterments that extend the useful lives of existing assets, if material, are generally capitalized.  Expenditures for maintenance and repairs are charged to expense as incurred. 

 

Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.  In the event that facts and circumstances indicate that the cost of any long-lived assets may be impaired, an evaluation of recoverability would be performed.

 

Recognition of Sales Revenue

Revenue is recognized upon the completion of the sales and shipment of the product.  The product is sold via the internet and is delivered to customers or to wholesale resellers using a ground courier service.

 

Recognition of Rental Income

Revenue from lease of residential and commercial properties is recognized when earned with the passage of time per the terms of the leases in effect.

 

Sales Taxes

The State of Florida imposes a sales tax ranging from 6.0% to 7.5% on all of the Company’s sales delivered within the State.  The Company collects that sales tax from customers and remits the entire amount to the State.  The Company’s accounting policy is to exclude the tax collected and remitted to the State from revenue and cost of sales.

 

Shipping and Handling Costs

The Company classifies freight billed to customers as sales revenue and related freight costs as cost of sales.

 

Basic and Diluted Net Income (Loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then the basic and diluted per share amounts are the same. As of March 31, 2015 and 2014, there were 0 common stock equivalents outstanding.

 

Recent Accounting Pronouncements

The Company does not expect that the adoption of recent accounting pronouncements will have a material impact on its financial statements.

Note 3 - Property and Equipment
Note 3 - Property and Equipment

Note 3 - Property and Equipment

 

On September 17, 2014, the Company acquired a residential duplex located in Hanahan, South Carolina from DayBreak Capital, LLC, a related party.  The real estate was purchased for a price of $83,402. Kent Campbell, the Company’s Chief Executive Officer is the majority shareholder of DayBreak Capital, LLC. Therefore, as this was a transaction between entities under common control, the Company recorded the cost of the land and buildings at historical cost. These amounts were $16,729 for the land, and $62,233 for the buildings (total cost of $78,962). The difference between the agreed upon cost and the historical cost was recorded to additional paid-in capital ($4,440).

 

On October 31, 2014, the Company acquired a mobile home located in Lady Lake, Florida. The real estate and improvements located on it were acquired from an unrelated party for a purchase price of $53,000 plus customary closing costs.  The Company paid the purchase price in cash at closing.

 

On December 12, 2014, the Company acquired a mobile home located in Wildwood, Florida. The real estate and improvements located on it were acquired from an unrelated party for a purchase price of $29,000 plus customary closing costs.  The Company paid the purchase price in cash at closing.

 

On December 22, 2014, the Company acquired a mobile home located in Wildwood, Florida. The real estate and improvements located on it were acquired from an unrelated party for a purchase price of $27,000 plus customary closing costs.  The Company paid the purchase price in cash at closing.

 

On March 9, 2015, the Company acquired a residential duplex located in Hanahan, South Carolina from DayBreak Capital, LLC, a related party.  The real estate was purchased for a price of $66,815. Kent Campbell, the Company’s Chief Executive Officer is the majority shareholder of DayBreak Capital, LLC. Therefore, as this was a transaction between entities under common control, the Company recorded the cost of the land and buildings at historical cost. These amounts were $13,904 for the land, and $51,721 for the buildings (total cost of $65,625). The difference between the agreed upon cost and the historical cost was recorded to additional paid-in capital ($1,190).

 

Property and equipment are stated at cost and consist of the following categories as of March 31, 2015 and December 31, 2014:

 

 

 

 

March 31, 2015

December 31, 2014

     Land

72,105

58,201

     Furniture & Fixtures

    19,832

19,832

     Buildings

119,637

119,637

     Improvements

21,461

15,861

     Income Producing Properties

220,233

168,512

          Total Property & Equipment

453,268

 

382,043

     Less:  Accumulated Depreciation & Amortization

(10,000)

(6,814)

 

 

 

          Net Property and Equipment

443,268

375,229

Note 4 - Long Term Investments and Deposits
Note 4 - Long Term Investments and Deposits

 

Note 4 - Long Term Investments and Deposits

 

On April 10, 2014, the Company purchased for a price of $30,000 a 1.67% interest in Texstar Preferred Partner Joint Venture III, LP (“Texstar”).  Texstar owns a 60% net revenue interest in the Engleke Lease, an oil and gas lease covering the Austin Chalk, Eagle Ford and Buda reservoirs located in the Luling-Banyon field area in Guadalupe County, Texas. This lease contains 14 oil and gas wells that are employing re-stimulation and secondary recovery efforts with targeted remaining recoverable reserves of 2,990,000 barrels of oil. This investment is accounted for using the cost method of accounting.  At December 31, 2014, the Company noted indicators of impairment due to the return on the investment not being what was anticipated. Accordingly, the Company performed an impairment analysis and based on that analysis determined the investment was fully impaired. Therefore, the Company recorded an impairment loss on this investment of $30,000 for the year ended December 31, 2014.

 

On December 10, 2014, the Company entered into a securities purchase (with subsequent amendment dated January 30, 2015) and royalty agreement with Bonjoe Gourmet Chips, LLC, (“Bonjoe”) a Florida limited liability company, and its members Joseph Trudel and Gilbert Hess.  The Company delivered $11,500 under the original agreement, which was being held as a deposit until the exchange was complete. Additionally, the Company provided Bonjoe with a $6,200 working capital loan that accrued interest of $88 through March 31, 2015. As of March 31, 2015, the Company determined it would no longer pursue this opportunity and therefore determined an impairment loss was necessary. The Company recorded a related impairment loss of $17,788, as of March 31, 2015.

Note 5 - Convertible Debt
Note 5 - Convertible Debt

Note 5 - Convertible Debt

 

On August 22, 2014, the Company entered into a securities purchase agreement with KBM Worldwide, Inc. (“KBM”), whereby KBM agreed to invest $68,000 into the Company in exchange for the Company’s issuance of a convertible promissory note, which bears interest at 8% per annum.  All outstanding principal and accrued interest on the Note is due and payable on the maturity date, which is May 18, 2015.  The Note is convertible by KBM into common stock of the Company at any time during the conversion period, which begins February 18, 2015 (180 days after the issuance) and ends May 18, 2015 (at maturity).  The conversion price for each share is 61% multiplied by the lowest average three day market price of the Common Stock during the ten trading days prior to the relevant notice of conversion.

 

On November 17, 2014, the Company entered into a securities purchase agreement with KBM Worldwide, Inc., whereby KBM agreed to invest $43,000 into the Company in exchange for the Company’s issuance of a convertible promissory note, which bears interest at 8% per annum.  All outstanding principal and accrued interest on the Note is due and payable on the maturity date, which is August 19, 2015.  The Note is convertible by KBM into common stock of the Company at any time during the conversion period, which begins May 16, 2015 (180 days after the issuance) and ends August 19, 2015 (at maturity).  The conversion price for each share is 61% multiplied by the lowest average three day market price of the Common Stock during the ten trading days prior to the relevant notice of conversion.

 

We determined the conversion feature associated with these convertible notes should be accounted for under ASC 470, whereby a debt discount is recorded based on the intrinsic value. As such, we recorded a debt discount of $43,590 on August 22, 2014 and $27,492 for the notes described above. Amortization of the beneficial conversion feature triggered by this convertible note is reported as interest expense on the income statement. A total of $28,658 was recorded as interest expense for the year ended December 31, 2014, of which $26,272 related to debt discount amortization and $2,386 related to stated interest. A total of $50,621 was recorded as interest expense through March 19, 2015 (date notes were paid off – see below), of which $18,518 related to debt discount amortization, $1,314 related to stated interest, and $30,789 related to a prepayment premium.

 

On February 23, 2015, the Company issued 281,080 shares of common stock upon receipt of a conversion request from KBM, for $12,000 in convertible debt, associated with the August 22, 2014 promissory note.

 

On March 19, 2015, the Company paid both notes in full (including accrued interest) with available cash in the operating account. The remaining debt discount was amortized to interest expense ($26,291).

Note 6 - Stockholders' Equity
Note 6 - Stockholders' Equity

Note 6 - Stockholders’ Equity

 

The company has authorized 320,000,000 shares, of which 300,000,000 are Common Stock, par value $0.001 per share with 8,321,655 shares of Common Stock issued and outstanding and 20,000,000 shares of Preferred Stock, par value $0.001 per share, with 1,000,000 shares designated as Series A Preferred Stock, $0.001 par with 10,000 shares of Series A Preferred Stock issued and outstanding, and 10,000 shares designated as Series B Preferred Stock, $0.001 par with 10,000 shares of Series B Preferred issued and outstanding as of December 31, 2014.

 

The Series A Preferred Stock has the following designations, rights, and preferences:

 

·         The stated value of each shares is $0.001;

·         Each share shall entitle the holder thereof to 300 votes on all matters submitted to a vote of the stockholders of the Company;

·         Except as otherwise provided in the Certificate of Designation, the Company’s Articles, or by law, the holders of Series A Preferred Stock shall have general voting rights and shall vote together as one class, with all holders of shares of any other capital stock of the Company, on all matters submitted to a vote of stockholders of the Company; and,

·         The holders of the Series A Preferred Stock shall not have any conversion rights.

 

The Series B Preferred Stock has the following designations, rights, and preferences:

 

·         The stated value of each shares is $0.001;

·         Each share shall entitle the holder thereof to 10,000 votes on all matters submitted to a vote of the stockholders of the Company.  In the event that such votes do not total at least 51% of all votes, then the votes cast by the holders of the Series B preferred stock shall equal to 51% of all votes cast at any meeting of the Company’s stockholders or any issue put to the stockholders for voting;

·         Except as otherwise provided in the Certificate of Designation, the Company’s Articles, or by law, the holders of Series B Preferred Stock shall have general voting rights and shall vote together as one class, with all holders of shares of any other capital stock of the Company, on all matters submitted to a vote of stockholders of the Company; and,

·         The holders of the Series B Preferred Stock are not entitled to dividends or distributions.

 

On May 3, 2014, the Company issued 10,000 shares of its common stock for the acquisition of assets classified as Buildings & Improvements. These shares were valued based on the fair value of service provided ($10,000).

 

During the year ended December 31, 2014, the Company issued 37,500 common shares for cash of $12,000; 10,000 series A preferred shares for cash of $1,000; 10,000 common shares for services, valued at $10,000; and 10,000 series B preferred shares for cash of $5,000.

 

On February 23, 2015, the Company issued 281,080 shares of common stock upon receipt of a conversion request from KBM, for $12,000 in convertible debt, associated with the August 22, 2014 promissory note.

Note 8 - Discontinued Operations
Note 8 - Discontinued Operations

Note 8 - Discontinued Operations

 

On December 31, 2014, the Board of Directors committed to a plan to discontinue operations of its subsidiary Lil Marc, Inc. (“Lil Marc”).  Lil Marc manufactures, markets and sells the LiL Marc, a plastic boys’ toilet-training device.  Due to declining sales and a competitor selling the same product for a price below the Company’s cost, the Company intends to discontinue this business.  This decision represents a strategic shift in operations to focus efforts and resources on its real estate operations, oil and gas leasing property, and other business opportunities.

 

The assets and liabilities held for discontinued operations presented on the balance sheet as of March 31, 2015 and December 31, 2014 consisted of the following:

 

 

 

March 31, 

Dec. 31

Assets:

 

2015

2014

Cash and Cash Equivalents

 

4,677

1,200

Accounts Receivable

 

0

537

     Total Current Assets

 

4,677

1,737

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

Accounts Payable

 

0

9

     Total Current Liabilities

 

0

9

 

The losses from discontinued operations presented in the income statement for the three months ended March 31, 2015 and the three months ended March 31, 2014 consisted of the following:

 

 

 

March 31, 

March 31,

 

 

2015

2014

Revenue

 

8,312

5,035

Cost of Goods Sold

 

(3,712)

(1,418)

     Gross Profit

 

4,600

3,617

Operating Expenses:

 

 

 

Depreciation and Amortization

 

-

(614)

General and Administrative

 

 

(1,652)

(9,170)

      Total Operating Expenses

 

(1,652)

(9,784)

 

 

 

 

Net Income (Loss) before Income Taxes

 

2,948

(6,167)

Income Tax Benefit

 

-

-

Net Income (Loss) from Discontinued Operations

 

2,948

(6,167)

Note 2 - Summary of Significant Accounting Policies: Use of Estimates (Policies)
Use of Estimates

Use of Estimates

We use estimates and assumptions in preparing financial statements.  Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.  Actual results could differ from those estimates.

Note 2 - Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)
Fair Value of Financial Instruments

Fair Value of Financial Instruments

The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than a forced sale or liquidation. Significant differences can arise between the fair value and carrying amount of financial instruments that are recognized at historical cost amounts. The carrying value of the company’s financial assets and liabilities approximate the fair value of the short maturity of those instruments.

Note 2 - Summary of Significant Accounting Policies: Accounting Method (Policies)
Accounting Method

Accounting Method

The Company recognizes income and expenses based on the accrual method of accounting.

Note 2 - Summary of Significant Accounting Policies: Advertising (Policies)
Advertising

Advertising

The Company expenses all advertising costs as they are incurred.

Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)
Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents are defined as demand deposits, money market accounts and overnight investments at banks.  Cash is maintained in banks insured by the FDIC for an aggregate of up to $250,000.  The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.

Note 2 - Summary of Significant Accounting Policies: Concentrations of Risk (Policies)
Concentrations of Risk

Concentrations of Risk

Financial Instruments which potentially subject the Company to concentrations of risk consist primarily of cash and cash equivalents.  The Company places its cash and cash equivalents with major financial institutions.  At March 31, 2015, the Company has $376,606 in excess of federally insured limits.

Note 2 - Summary of Significant Accounting Policies: Dividend Policy (Policies)
Dividend Policy

Dividend Policy

The Company has not yet adopted a policy regarding dividends.

Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies)
Income Taxes

Income Taxes

The Company utilizes the liability method of accounting for income taxes.  Under the liability method deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to reverse.  An allowance against deferred tax assets is recorded when it is more likely than not that such tax benefits will not be realized.

Note 2 - Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Policies)
Impairment of Long-lived Assets

Impairment of Long-lived Assets

The Company reviews long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. The Company reviews long-lived assets for impairment at the individual asset or the asset group level for which the lowest level of independent cash flows can be identified.  

Note 2 - Summary of Significant Accounting Policies: Long Term Investments (Policies)
Long Term Investments

Long Term Investments

Non-marketable equity investments are carried at cost.  Investments held by the Company are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of the investment may not be recoverable.  In the event that facts and circumstances indicate that the cost may be impaired, an evaluation of recoverability would be performed. Impairment expense of $17,788 and $0 has been recorded on long-lived assets for the periods ended March 31, 2015 and 2014, respectively.

Note 2 - Summary of Significant Accounting Policies: Principles of Consolidation Policy (Policies)
Principles of Consolidation Policy

Principles of Consolidation

The accompanying consolidated financials include the accounts of the Company and its subsidiaries from its inception.  All significant intercompany accounts and balances have been eliminated in consolidation.

Note 2 - Summary of Significant Accounting Policies: Property & Equipment (Policies)
Property & Equipment

Property & Equipment

Property and equipment are stated at cost.  The Company provides for depreciation and amortization using the straight-line method over the estimated useful lives of the various classes of property, as follows:

 

Machinery & Equipment

5 to 7 years

Furniture & Fixtures

5 to 7 years

Improvements

10 to 20 years

Building

40 years

Income Producing Properties 

40 years

 

Expenditures for additions, improvements and betterments that extend the useful lives of existing assets, if material, are generally capitalized.  Expenditures for maintenance and repairs are charged to expense as incurred. 

 

Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.  In the event that facts and circumstances indicate that the cost of any long-lived assets may be impaired, an evaluation of recoverability would be performed.

Note 2 - Summary of Significant Accounting Policies: Recognition of Sales Revenue and Rental Income (Policies)
Recognition of Sales Revenue and Rental Income

Recognition of Sales Revenue

Revenue is recognized upon the completion of the sales and shipment of the product.  The product is sold via the internet and is delivered to customers or to wholesale resellers using a ground courier service.

 

Recognition of Rental Income

Revenue from lease of residential and commercial properties is recognized when earned with the passage of time per the terms of the leases in effect.

Note 2 - Summary of Significant Accounting Policies: Shipping and Handling Costs (Policies)
Shipping and Handling Costs

Shipping and Handling Costs

The Company classifies freight billed to customers as sales revenue and related freight costs as cost of sales.

Note 2 - Summary of Significant Accounting Policies: Basic and Diluted Net Income (loss) Per Share Policy (Policies)
Basic and Diluted Net Income (loss) Per Share Policy

Basic and Diluted Net Income (Loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then the basic and diluted per share amounts are the same. As of March 31, 2015 and 2014, there were 0 common stock equivalents outstanding.

Note 2 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements Policy (Policies)
Recent Accounting Pronouncements Policy

Recent Accounting Pronouncements

The Company does not expect that the adoption of recent accounting pronouncements will have a material impact on its financial statements.

Note 2 - Summary of Significant Accounting Policies: Property & Equipment: Schedule of Property Plant and Equipment, Useful Life (Tables)
Schedule of Property Plant and Equipment, Useful Life

 

Machinery & Equipment

5 to 7 years

Furniture & Fixtures

5 to 7 years

Improvements

10 to 20 years

Building

40 years

Income Producing Properties 

40 years

Note 3 - Property and Equipment: Property, Plant and Equipment (Tables)
Property, Plant and Equipment

 

 

 

 

March 31, 2015

December 31, 2014

     Land

72,105

58,201

     Furniture & Fixtures

    19,832

19,832

     Buildings

119,637

119,637

     Improvements

21,461

15,861

     Income Producing Properties

220,233

168,512

          Total Property & Equipment

453,268

 

382,043

     Less:  Accumulated Depreciation & Amortization

(10,000)

(6,814)

 

 

 

          Net Property and Equipment

443,268

375,229

Note 8 - Discontinued Operations: Disposal Groups, Including Discontinued Operations (Tables)
Disposal Groups, Including Discontinued Operations

 

The assets and liabilities held for discontinued operations presented on the balance sheet as of March 31, 2015 and December 31, 2014 consisted of the following:

 

 

 

March 31, 

Dec. 31

Assets:

 

2015

2014

Cash and Cash Equivalents

 

4,677

1,200

Accounts Receivable

 

0

537

     Total Current Assets

 

4,677

1,737

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

Accounts Payable

 

0

9

     Total Current Liabilities

 

0

9

 

The losses from discontinued operations presented in the income statement for the three months ended March 31, 2015 and the three months ended March 31, 2014 consisted of the following:

 

 

 

March 31, 

March 31,

 

 

2015

2014

Revenue

 

8,312

5,035

Cost of Goods Sold

 

(3,712)

(1,418)

     Gross Profit

 

4,600

3,617

Operating Expenses:

 

 

 

Depreciation and Amortization

 

-

(614)

General and Administrative

 

 

(1,652)

(9,170)

      Total Operating Expenses

 

(1,652)

(9,784)

 

 

 

 

Net Income (Loss) before Income Taxes

 

2,948

(6,167)

Income Tax Benefit

 

-

-

Net Income (Loss) from Discontinued Operations

 

2,948

(6,167)

Note 1 - Organization (Details)
3 Months Ended
Mar. 31, 2015
Details
 
Entity Incorporation, State Country Name
Nevada 
Entity Incorporation, Date of Incorporation
Dec. 30, 1999 
Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Details) (USD $)
Mar. 31, 2015
Details
 
Cash, FDIC Insured Amount
$ 250,000 
Note 2 - Summary of Significant Accounting Policies: Concentrations of Risk (Details) (USD $)
Mar. 31, 2015
Details
 
Cash in Excess of Federally Insured Limits
$ 376,606 
Note 2 - Summary of Significant Accounting Policies: Long Term Investments (Details) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Details
 
 
 
Impairment loss on investment
$ 17,788 
$ 0 
$ 30,000 
Note 2 - Summary of Significant Accounting Policies: Property & Equipment: Schedule of Property Plant and Equipment, Useful Life (Details)
3 Months Ended
Mar. 31, 2015
Machinery and Equipment |
Minimum
 
Property, Plant and Equipment, Useful Life
5 years 
Machinery and Equipment |
Maximum
 
Property, Plant and Equipment, Useful Life
7 years 
Furniture and Fixtures |
Minimum
 
Property, Plant and Equipment, Useful Life
5 years 
Furniture and Fixtures |
Maximum
 
Property, Plant and Equipment, Useful Life
7 years 
Land Improvements |
Minimum
 
Property, Plant and Equipment, Useful Life
10 years 
Land Improvements |
Maximum
 
Property, Plant and Equipment, Useful Life
20 years 
Building
 
Property, Plant and Equipment, Useful Life
40 years 
Income Producing Properties
 
Property, Plant and Equipment, Useful Life
40 years 
Note 2 - Summary of Significant Accounting Policies (Details)
3 Months Ended
Mar. 31, 2015
Minimum
 
State of Florida Sales Tax
6.00% 
Maximum
 
State of Florida Sales Tax
7.50% 
Note 2 - Summary of Significant Accounting Policies: Basic and Diluted Net Income (loss) Per Share Policy (Details)
Mar. 31, 2015
Mar. 31, 2014
Details
 
 
Common Stock Equivalents Outstanding
Note 3 - Property and Equipment (Details) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Purchases of Property and Equipment
$ 72,416 
$ 117,229 
 
Amount allocated to APIC associated with the purchase of real estate between entities under common control
1,190 
 
4,440 
Hanahan, SC Residential Duplex 1
 
 
 
Real Estate Owned, Nature and Origin
 
 
a residential duplex located in Hanahan, South Carolina 
Purchases of Property and Equipment
 
 
83,402 
Amount allocated to APIC associated with the purchase of real estate between entities under common control
4,440 
 
 
Land
 
 
 
Payments to Acquire Real Estate
13,904 
 
16,729 
Building
 
 
 
Payments to Acquire Real Estate
51,721 
 
62,233 
Lady Lake, FL Mobile Home
 
 
 
Real Estate Owned, Nature and Origin
 
 
a mobile home located in Lady Lake, Florida 
Purchases of Property and Equipment
 
 
53,000 
Wildwood, FL Mobile Home
 
 
 
Real Estate Owned, Nature and Origin
 
 
a mobile home located in Wildwood, Florida 
Purchases of Property and Equipment
 
 
29,000 
Wildwood, FL Mobile Home 2
 
 
 
Real Estate Owned, Nature and Origin
 
 
a mobile home located in Wildwood, Florida 
Purchases of Property and Equipment
 
 
27,000 
Hanahan, SC Residential Duplex 2
 
 
 
Real Estate Owned, Nature and Origin
a residential duplex located in Hanahan, South Carolina from DayBreak Capital, LLC, a related party 
 
 
Purchases of Property and Equipment
66,815 
 
 
Amount allocated to APIC associated with the purchase of real estate between entities under common control
$ 1,190 
 
 
Note 3 - Property and Equipment: Property, Plant and Equipment (Details) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Net Property and Equipment
$ 443,268 
$ 375,229 
Property, Plant and Equipment, Gross
453,268 
382,043 
Less: Accumulated Depreciation
(10,000)
(6,814)
Land
 
 
Net Property and Equipment
72,105 
58,201 
Furniture and Fixtures
 
 
Net Property and Equipment
19,832 
19,832 
Building
 
 
Net Property and Equipment
119,637 
119,637 
Land Improvements
 
 
Net Property and Equipment
21,461 
15,861 
Income Producing Properties
 
 
Net Property and Equipment
$ 220,233 
$ 168,512 
Note 4 - Long Term Investments and Deposits (Details) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Details
 
 
 
Investments
$ 30,000 
 
 
Productive Oil Wells, Number of Wells, Net
14 
 
 
Barrels of oil
2,990,000 
 
 
Impairment loss on investment
$ 17,788 
$ 0 
$ 30,000 
Note 5 - Convertible Debt (Details) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Convertible Debt Discount
 
$ 44,810 
Interest expense
76,912 
 
Debt discount amortization
44,809 
 
Shares issued upon receipt of a conversion request
281,080 
 
Value of sShares issued upon receipt of a conversion request
12,000 
 
KBM Worldwide, Inc.
 
 
Proceeds from Convertible Debt
 
68,000 
Convertible Debt Discount
43,590 
 
Interest expense
 
28,658 
Debt discount amortization
26,272 
 
KBM Worldwide, Inc. 2
 
 
Proceeds from Convertible Debt
 
$ 43,000 
Note 6 - Stockholders' Equity (Details) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Common stock shares authorized
300,000,000 
300,000,000 
Common stock par value
$ 0.001 
$ 0.001 
Common stock shares issued
8,321,655 
8,040,625 
Common stock shares outstanding
8,321,655 
8,040,625 
Preferred stock shares authorized
20,000,000 
 
Preferred stock par value
$ 0.001 
 
Preferred stock shares issued
10,000 
 
Preferred stock shares outstanding
10,000 
 
Stock issued during period for acquisition of assets classified as buildings and improvement
10,000 
 
Issuance of 10,000 common shares for property and equipment
$ 10,000 
 
Issuance of common shares for cash
281,080 
37,500 
Aggregate Proceeds from Issuance of Common Stock
$ 12,000 
$ 12,000 
Series A Preferred Stock
 
 
Preferred stock shares authorized
20,000,000 
20,000,000 
Preferred stock par value
$ 0.001 
$ 0.001 
Preferred stock shares issued
10,000 
10,000 
Preferred stock shares outstanding
10,000 
10,000 
Series B Preferred Stock
 
 
Preferred stock shares authorized
20,000,000 
20,000,000 
Preferred stock par value
$ 0.001 
$ 0.001 
Preferred stock shares issued
10,000 
10,000 
Preferred stock shares outstanding
10,000 
10,000