0001014897-12-000238.txt : 20120816 0001014897-12-000238.hdr.sgml : 20120816 20120816155503 ACCESSION NUMBER: 0001014897-12-000238 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20120630 FILED AS OF DATE: 20120816 DATE AS OF CHANGE: 20120816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BAYNON INTERNATIONAL CORP CENTRAL INDEX KEY: 0001089598 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 880285718 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-26653 FILM NUMBER: 121040103 BUSINESS ADDRESS: STREET 1: 266 CEDAR STREET CITY: CEDAR GROVE STATE: NJ ZIP: 07009 BUSINESS PHONE: 9732392952 MAIL ADDRESS: STREET 1: 266 CEDAR STREET CITY: CEDAR GROVE STATE: NJ ZIP: 07009 10-Q 1 baynon10qrevised.htm FORM 10-Q Baynon Form 10Q

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549


FORM 10-Q


 [x] Quarterly Report Pursuant to Section 13 or 15(d) Securities Exchange Act of 1934 for Quarterly Period Ended June 30, 2012


-OR-


[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities And Exchange Act of 1934 for the transaction period from _________ to________


Commission File Number      000-26653


Baynon International Corp.

(Exact name of Registrant

in its charter)


Nevada

 

88-0285718

(State or Other Jurisdiction of Incorporation or Organization)

 

(I.R.S. Employer Identification Number)


266 Cedar Street, Cedar Grove, New Jersey

 

07009

(Address of Principal Executive Offices

 

(Zip Code)


Baynon's Telephone Number, Including Area Code:

 

(973) 239-2952


Indicate by check mark whether the issuer (1) 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 the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [x] No [ ]


Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   Yes [ ]   No [ ]


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerate filer, or a small reporting company as defined by Rule 12b-2 of the Exchange Act):




Large accelerated filer [ ]     Non-accelerated filer        [ ]

Accelerated filer       [ ]     Smaller reporting company [x]


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes [x] No [ ]


The number of outstanding shares of the registrant's common stock, August 16, 2012:  Common Stock – 30,772,192


2




BAYNON INTERNATIONAL CORP.

FORM 10-Q

INDEX

Page

PART I - FINANCIAL INFORMATION


Item 1.  Financial Statements (Unaudited)

 

 

 

 

 

    Balance Sheets at June 30, 2012 and December

      31, 2011

 

4

 

 

 

    Statements of Operations for the three and six months ended June 30, 2012 and 2011

 

5

 

 

 

    Statements of Cash Flows for the six months ended June 30, 2012 and 2011

 

6

 

 

 

Notes to Financial Statements

 

7

 

 

 

Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations

 

10

Item 3.  Quantitative and Qualitative Disclosure About Market Risk

 

12

Item 4.  Controls and Procedures

 

12


PART II - OTHER INFORMATION


Item 1.  Legal Proceedings

 

13

Item 1A. Risk Factors

 

13

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

 

13

Item 3.  Defaults Upon Senior Securities

 

13

Item 4.  Mine Safety Disclosures

 

13

Item 5.  Other Information

 

13

Item 6.  Exhibits

 

13

 

 

 

SIGNATURES

 

14



3




BAYNON INTERNATIONAL CORP.


BALANCE SHEETS


 

June 30,

December 31,

 

     2012     

     2011     

 

(Unaudited)

 

 ASSETS

 



CURRENT ASSETS:



Cash and cash equivalents

$      28,345

$      1,520

TOTAL CURRENT ASSETS

        28,345

        1,520

 



TOTAL ASSETS

$     28,345

$      1,520

 



 



LIABILITIES AND STOCKHOLDERS’ DEFICIENCY

 



CURRENT LIABILITIES:



Accounts payable and accrued expenses

$     14,768

$    30,860

Convertible note payable – stockholder

50,000  

0   

Accrued interest – stockholders

           674

0

TOTAL CURRENT LIABILITIES

      65,442

      30,860

 



STOCKHOLDERS’ DEFICIENCY:



Common stock, par value $.001,



authorized 50,000,000 shares, issued



and outstanding  30,772,192  shares at June 30, 2012

       and 29,772,192 shares at December 31, 2011


30,772


29,772

Additional paid-in capital

223,936

223,936

Accumulated deficit

   (291,805)

  (283,048)

TOTAL STOCKHOLDERS’ DEFICIENCY

     (37,097)

    (29,340)

 



TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY

$     28,345

$      1,520


The accompanying notes are an integral part of these financial statements


4



BAYNON INTERNATIONAL CORP.


STATEMENTS OF OPERATIONS

(UNAUDITED)


 

Three Months Ended

Six Months Ended

 

              June 30,            

            June 30,             

 

    2012    

    2011    

    2012    

    2011    

 





Revenues

$         -      

$         -      

$         -      

$         -      

Cost of revenue

           -      

           -      

           -      

           -      

 





Gross Profit

            -     

            -     

            -     

            -     

 





Other Costs:





General and administrative expenses

         3,743

         3,375

      8,094

     7,801






Total Other Costs

        3,743

         3,375

      8,094

     7,801

 





Operating loss

       (3,743)

       (3,375)

     (8,094)

     (7,801)

 





Other Income (Expense):





Interest income

11

3

11

7

Interest expense – stockholders

           (674)

           (673)

         (674)

         (1,339)

 





Total Other Income (Expense)

          (663)

          (670)

         (663)

         (1,332)

 





Net Loss

$     (4,406)

$     (4,045)

$    (8,757)

$    (9,133)

 





Earnings (loss) per share:





Basic and diluted earnings (loss) per common share


$           -     


$           -     


$           -     


$           -     

 





Basic and diluted common shares outstanding


 30,662,301


25,860,192


30,217,247


25,860,192



The accompanying notes are an integral part of these financial statements


5



BAYNON INTERNATIONAL CORP.


STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2012 AND 2011

(UNAUDITED)


 

     2012     

     2011     

 

 


Cash flows from Operating Activities:

 


Net loss

 $       (8,757)

 $       (9,133)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

    (Decrease) increase in accounts payable and accrued expenses

 (16,092)

 4,501

Increase in accrued interest – stockholders

           674

           1,339

 

 

 

          Net Cash used in operating activities

(24,175)

       (3,293)

 

 

 

 Cash flows from Financing Activities

 

 

      Proceeds from stockholder note payable

 50,000

 0

      Proceeds from issuance of common stock

           1,000

                  0

 

 

 

           Net cash provided by financing activities

        51,000

                 0

 

 

 

Increase (decrease) in Cash and Cash Equivalents

 26,825

 (3,293)

 

 

 

Cash and Cash Equivalents, beginning of period

           1,520

           7,890

 

 

 

Cash and Cash Equivalents, end of  period

 $      28,345

 $        4,597

 

 

 

Supplemental Disclosures of Cash Flow Information

 

 

   Cash paid during period for

 

 

      Income Taxes

        $   500

       $    500

 

 

 

      Interest

 $            0

 $        0



The accompanying notes are an integral part of these financial statements


6



BAYNON INTERNATIONAL CORP.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2012 AND 2011

(UNAUDITED)


1.   THE COMPANY


Baynon International Corp. formerly known as Technology Associates Corporation (the “Company”), was originally incorporated on February 29, 1968 under the laws of the Commonwealth of Massachusetts to engage in any lawful corporate undertaking.  On December 28, 1989, the Company reincorporated under the laws of the State of Nevada.  The Company was formerly engaged in the technology marketing business and its securities traded on the National Association of Securities Dealers OTC Bulletin Board.  The Company has not engaged in any business operations for at least the last eight fiscal years and has no operations to date.


The Company will attempt to identify and negotiate with a business target for the merger of that entity with and into the Company.  In certain instances, a target company may wish to become a subsidiary of the company or wish to contribute assets to the Company rather than merge.


No assurance can be given that the Company will be successful in identifying or negotiating with any target company.  The Company provides a means for a foreign or domestic private company to become a reporting (public) company whose securities would be qualified for trading in the United States secondary market.


2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Interim Presentation

The December 31, 2011 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles.  In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of  June 30, 2012, its results of operations for the three and six months ended June 30, 2012 and 2011 and its cash flows for the six months ended June 30, 2012 and 2011.


The statements of operations for the three and six months ended June 30, 2012 and 2011 are not necessarily indicative of the results for the full year.


While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company’s annual Report on Form 10-K for the year ended December 31, 2011.


7



BAYNON INTERNATIONAL CORP.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2012 AND 2011

(UNAUDITED)


2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)


Loss Per Share

The Company computes loss per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 260, “Earnings Per Share”.  Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock.  Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the six months ended June 30, 2012 and 2011 as their effect would be anti-dilutive:


Convertible Note Payable and accrued

2012

2011

Interest - stockholder (weighted average)

4,053,918

3,877,677


Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $291,805 at June 30, 2012.  The Company has no revenue generating operations and has limited cash resources.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.


Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company’s obligations through June 30, 2013 by obtaining additional financing from key officers, directors and certain investors.  However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.


Fair Value of Financial Instruments

The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments.


8



BAYNON INTERNATIONAL CORP.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2012 AND 2011

(UNAUDITED)


2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)


Recently Issued Accounting Standards

Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements.


3.

CONVERTIBLE NOTES PAYABLE - STOCKHOLDERS


In 2009 and 2010, the Company issued unsecured convertible notes payable to stockholders in exchange for $45,000 in cash, for the Company’s working capital needs.  In the third quarter of 2011, the notes and accrued interest thereon were converted into 3,912,000 shares of the Company’s common stock.


On April 10, 2012, the Company issued an unsecured convertible note payable to a stockholder in exchange for $50,000 in cash for the Company’s working capital needs. The note bears interest at 6% per annum and matures on April 10, 2013. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $.0125 per share.


At June 30, 2012 and December 31, 2011, accrued interest on the notes was $674 and $-0-, respectively.  .  Interest expense amount to $674 and $673 for the three months ended June 30, 2012 and 2011, respectively. Interest expense amounted to $674 and $1,339 for the six months ended June 30, 2012 and 2011, respectively

4.

COMMON STOCK


On April 10, 2012, the Company issued 1,000,000 shares of common stock to an investor for $1,000 ($0.001 per share).


5.

SUBSEQUENT EVENTS


The Company has evaluated subsequent events through the date that the financial were issued.


9



Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations


Forward-Looking Statements

This Form 10-Q contains forward-looking statements within the meaning of the federal securities laws. These statements include those concerning the following:  Our intentions, beliefs and expectations regarding the fair value of all assets and liabilities recorded; our strategies; growth opportunities; product development and introduction relating to new and existing products; the enterprise market and related opportunities; competition and competitive advantages and disadvantages; industry standards and compatibility of our products; relationships with our employees; our facilities, operating lease and our ability to secure additional space; cash dividends; excess inventory, our expenses; interest and other income; our beliefs and expectations about our future success and results; our operating results; our belief that our cash and cash equivalents will be sufficient to satisfy our anticipated cash requirements, our expectations regarding our revenues and customers; investments and interest rates.  These statements are subject to risk and uncertainties that could cause actual results and events to differ materially.


Baynon undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this Form 10-Q.


Critical Accounting Policies

The financial statements and accompanying footnotes included in this report has been prepared in accordance with accounting principles generally accepted in the United States with certain amount based on management’s best estimates and judgments. To determine appropriate carrying values of assets and liabilities that are not readily available from other sources, management uses assumptions based on historical results and other factors that believe are reasonable.  Actual results could differ from those estimates.


Our critical accounting policies are described in our Annual Report on Form 10-K for the year ended December 31, 2011.  There have been no material changes to our critical accounting policies as of and for the six months ended June 30, 2012.


Trends and Uncertainties

There are no material commitments for capital expenditure at this time.  There are no trends, events or uncertainties that have had or are reasonably expected to have a material impact on our limited operations. There are no known causes for any material changes from period to period in one or more line items of Baynon’s financial statements.


Liquidity and Capital Resources

At June 30, 2012, Baynon had a cash balance of $28,345, which represents a $26,825 increase from the $1,520 balance at December 31, 2011.  This increase was primarily the result of the issuance of a note payable to a stockholder for $50,000 and issuance of common stock for $1,000 net of cash used to satisfy the requirements of a reporting company. Baynon’s working capital

10



deficit at June 30, 2012 was $37,097 as compared to a December 31, 2011 deficit of $29,340.


The focus of Baynon’s efforts is to acquire or develop an operating business. Despite no active operations at this time, management intends to continue in business and has no intention to liquidate Baynon.  Baynon has considered various business alternatives including the possible acquisition of an existing business, but to date has found possible opportunities unsuitable or excessively priced.  Baynon does not contemplate limiting the scope of its search to any particular industry.  Management has considered the risk of possible opportunities as well as their potential rewards.  Management has invested time evaluating several proposals for possible acquisition or combination; however, none of these opportunities were pursued. Baynon presently owns no real property and at this time has no intention of acquiring any such property. Baynon’s sole expected expenses are comprised of professional fees primarily incident to its reporting requirements.


The accompanying financial statement has been prepared assuming Baynon will continue as a going concern. As shown in the accompanying financial statements, Baynon has incurred losses of $8,757 and $9,133 for the six months ended June 30, 2012 and 2011, respectively, and a working capital deficiency which raises substantial doubt about the Company’s ability to continue as a going concern.


Management believes Baynon will continue to incur losses and negative cash flows from operating activities for the foreseeable future and will need additional equity or debt financing to sustain its operations until it can achieve profitability and positive cash flows, if ever.  Management plans to seek additional debt and/or equity financing for the Company, but cannot assure that such financing will be available on acceptable terms. Baynon’s continuation as a going concern is dependent upon its ability to ultimately attain profitable operations, generate sufficient cash flow to meet its obligations, and obtain additional financing as may be required.  Our auditors have included a “going concern” qualification in their auditors’ report dated March 27, 2012. Such a “going concern” qualification may make it more difficult for us to raise funds when needed. The outcome of this uncertainty cannot be assured.


The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. There can be no assurance that management will be successful in implementing its business plan or that the successful implementation of such business plan will actually improve Baynon’s operating results.


Results of Operations for the Three Months Ended June 30, 2012, compared to the Three Months ended June 30, 2011.


Baynon incurred a net loss of $4,406 in the current period versus a net loss of $4,045 in the prior period.  General and administrative expenses were $3,743 compared to $3,375


11



in the prior period, an increase of $368.  General and administrative expenses were incurred primarily to enable Baynon to satisfy the requirements of a reporting company.


Results of Operations for the Six Months Ended June 30, 2012 compared to the Six Months Ended June 30, 2011.


Baynon incurred a net loss of $8,757 in the current period versus a net loss of $9,133 in the prior period.  General and administrative expenses were $8,094 compared to $7,801 in the prior period, an increase of $293.  General and administrative expenses were incurred primarily to enable Baynon to satisfy the requirements of a reporting company.


During the current and prior period, Baynon did not record an income tax benefit due to the uncertainty associated with Baynon’s ability to merge with an operating company, which might permit Baynon to avail itself of those advantages.



Item 3. Quantitative and Qualitative Disclosures About Market Risk


Not applicable for a smaller reporting company.



Item 4. Controls and Procedures.


During the three months ended June 30, 2012, there were no changes in our internal controls over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.


Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended, as of June 30, 2012.  Based on this evaluation, our chief executive officer and chief principal financial officers have concluded such controls and procedures to be effective as of June 30, 2012 to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms and to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Act is accumulated and communicated to the issuer's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.


12




PART II - OTHER INFORMATION


Item 1.   Legal Proceedings  

None


Item 1A.  Risk Factors

Not applicable for smaller reporting company.


Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds  

None


Item 3.   Defaults Upon Senior Securities

None


Item 4.  Mine Safety Disclosure

Not Applicable


Item 5.   Other Information

None


Item 6.   Exhibits


Exhibit 31* - Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 32* - Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS**   XBRL Instance Document

101.SCH**   XBRL Taxonomy Extension Schema Document

101.CAL**   XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF**   XBRL Taxonomy Extension Definition Linkbase Document

101.LAB**   XBRL Taxonomy Extension Label Linkbase Document

101.PRE**   XBRL Taxonomy Extension Presentation Linkbase Document

*  Filed herewith

**XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.


13



SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.


Dated: August 16, 2012


BAYNON INTERNATIONAL CORP.


By:     /s/Pasquale Catizone

Pasquale Catizone,

Principal Executive Officer


/s/Daniel Generelli

Daniel Generelli,

Principal Financial Officer





14



EX-31 2 baynon10q2q12ex31.htm EXHIBIT 31 302 Certification

302 CERTIFICATION


I, Pasquale Catizone, certify that:


         1. I have reviewed this amended quarterly report on Form 10-Q of Baynon International Corp.;


         2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;


         3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;


         4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:


      a)  Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;


      b)  Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


      c)  Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report, our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and


      d)  Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and


         5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):


         a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and


         b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls over financial reporting.


Date: August 16, 2012

/s/Pasquale Catizone

Pasquale Catizone

President/Chief Executive Officer





302 CERTIFICATION


I, Daniel Generelli, certify that:


         1. I have reviewed this amended quarterly report on Form 10-Q of Baynon International Corp.;


         2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;


         3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;


         4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:


      a)  Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;


      b)  Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


      c)  Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report, our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and


      d)  Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and


         5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):


         a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and


         b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls over financial reporting.


Date: August 16, 2012

/s/Daniel Generelli

Daniel Generelli, CFO




EX-32 3 baynon10q2q12ex32.htm EXHIBIT 32 906 Certification

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the amended Quarterly Report of Baynon International Corp. (the "Company") on Form 10-Q for the quarter ended June 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Pasquale Catizone, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

            (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

           (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.


/s/Pasquale Catizone

Pasquale Catizone

Chief Executive Officer


August 16, 2012


CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the amended Quarterly Report of Baynon International Corp. (the "Company") on Form 10-Q for the quarter ended June 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Daniel Generelli, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

            (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

           (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.


/s/Daniel Generelli

Daniel Generelli

Chief Financial Officer


August 16, 2012




EX-101.INS 4 bynn-20120630.xml XBRL INSTANCE DOCUMENT 10-Q 2012-06-30 false Baynon International Corp 0001089598 --12-31 30722 Smaller Reporting Company Yes Yes No 2012 Q2 28345 1520 28345 1520 28345 1520 14768 30860 50000 0 674 0 65442 30860 30772 29772 223936 223936 -291805 -283048 -37097 -29340 -28345 1520 0 0 0 0 0 0 0 0 0 0 0 0 3743 3375 8094 7801 3743 3375 8094 7801 -3743 -3375 -8094 -7801 11 3 11 7 -663 -670 -663 -1332 -4406 -4045 0 0 0 0 30662301 25860192 30217247 25860192 -8757 -9133 -16092 4501 674 1339 -24175 -3293 50000 0 1000 0 51000 0 26825 -3293 1520 7890 28345 4597 500 500 0 0 <!--egx--><p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; margin-left:0in; text-align:justify; text-indent:0in"><b>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </b><b>THE COMPANY</b></p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Baynon International Corp. formerly known as Technology Associates Corporation (the &#147;Company&#148;), was originally incorporated on February 29, 1968 under the laws of the Commonwealth of Massachusetts to engage in any lawful corporate undertaking.&#160; On December 28, 1989, the Company reincorporated under the laws of the State of Nevada.&#160; The Company was formerly engaged in the technology marketing business and its securities traded on the National Association of Securities Dealers OTC Bulletin Board.&#160; The Company has not engaged in any business operations for at least the last eight fiscal years and has no operations to date.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The Company will attempt to identify and negotiate with a business target for the merger of that entity with and into the Company.&#160; In certain instances, a target company may wish to become a subsidiary of the company or wish to contribute assets to the Company rather than merge.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">No assurance can be given that the Company will be successful in identifying or negotiating with any target company.&#160; The Company provides a means for a foreign or domestic private company to become a reporting (public) company whose securities would be qualified for trading in the United States secondary market.</p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt; margin-left:0in; text-align:justify; text-indent:0in"><b>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </b><b>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Interim Presentation</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The December 31, 2011 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles.&#160; In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of &#160;June 30, 2012, its results of operations for the three and six months ended June 30, 2012 and 2011 and its cash flows for the six months ended June 30, 2012 and 2011.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The statements of operations for the three and six months ended June 30, 2012 and 2011 are not necessarily indicative of the results for the full year.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company&#146;s annual Report on Form 10-K for the year ended December 31, 2011.</p> <p style="margin:0in; margin-bottom:.0001pt">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Loss Per Share</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The Company computes loss per share in accordance with Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standards Codification (&#147;ASC&#148;) 260, &#147;Earnings Per Share&#148;.&#160; Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock.&#160; Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the six months ended June 30, 2012 and 2011 as their effect would be anti-dilutive:</p> <p style="margin:0in; margin-bottom:.0001pt">&nbsp;</p> <table width="418" style="width:4.35in; margin-left:.95in; border-collapse:collapse" cellpadding="0" cellspacing="0"> <tr style="height:15.0pt"> <td width="270" style="width:202.5pt; padding:0in 5.4pt 0in 5.4pt; height:15.0pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">Convertible Note Payable </p> </td> <td width="74" style="width:55.35pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:15.0pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">2012</p> </td> <td width="74" style="width:55.35pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:15.0pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">2011</p> </td> </tr> <tr style="height:14.35pt"> <td width="270" style="width:202.5pt; padding:0in 5.4pt 0in 5.4pt; height:14.35pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt"> - stockholder (weighted average)</p> </td> <td width="74" style="width:55.35pt; padding:0in 5.4pt 0in 5.4pt; height:14.35pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">4,053,918</p> </td> <td width="74" style="width:55.35pt; padding:0in 5.4pt 0in 5.4pt; height:14.35pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">3,877,677</p> </td> </tr> </table> <p style="margin:0in; margin-bottom:.0001pt">Going Concern</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $291,805 at June 30, 2012.&#160; The Company has no revenue generating operations and has limited cash resources.&#160; These factors raise substantial doubt about the ability of the Company to continue as a going concern. </p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company&#146;s obligations through June 30, 2013 by obtaining additional financing from key officers, directors and certain investors.&#160; However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.</p> <p style="margin:0in; margin-bottom:.0001pt">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Fair Value of Financial Instruments</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments.</p> <p style="margin:0in; margin-bottom:.0001pt">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Recently Issued Accounting Standards</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements.</p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt; text-align:justify"><b>CONVERTIBLE NOTES PAYABLE - STOCKHOLDERS</b></p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">In 2009 and 2010, the Company issued unsecured convertible notes payable to stockholders in exchange for $45,000 in cash, for the Company&#146;s working capital needs.&#160; In the third quarter of 2011, the notes and accrued interest thereon were converted into 3,912,000 shares of the Company&#146;s common stock.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">On April 10, 2012, the Company issued an unsecured convertible note payable to a stockholder in exchange for $50,000 in cash for the Company&#146;s working capital needs. The note bears interest at 6% per annum and matures on April 10, 2013. The stockholder has the option to convert the note and accrued interest into the Company&#146;s common stock at $.0125 per share.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Notes payable accrued interest</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">At June 30, 2012 and December 31, 2011, accrued interest on the notes was $674 and $-0-, respectively.&#160; Interest expense amounted to $674 and $1,339 for the six months ended June 30, 2012 and 2011, respectively.&#160; Interest expense amount to $674 and $673 for the three months ended June 30, 2012 and 2011, respectively.</p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt; text-align:justify"><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160; COMMON STOCK</b></p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">On April 10, 2012, the Company issued 1,000,000 shares of common stock to an investor for $1,000 ($0.001 per share). </p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt">Common stock value</p> <p style="margin:0in; margin-bottom:.0001pt">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify"><b>5.&#160;&#160;&#160;&#160; SUBSEQUENT EVENTS</b></p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The Company has evaluated subsequent events through the date that the financial were issued.</p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Interim Presentation</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The December 31, 2011 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles.&#160; In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of &#160;June 30, 2012, its results of operations for the three and six months ended June 30, 2012 and 2011 and its cash flows for the six months ended June 30, 2012 and 2011.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The statements of operations for the three and six months ended June 30, 2012 and 2011 are not necessarily indicative of the results for the full year.</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company&#146;s annual Report on Form 10-K for the year ended December 31, 2011.</p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Loss Per Share</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The Company computes loss per share in accordance with Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standards Codification (&#147;ASC&#148;) 260, &#147;Earnings Per Share&#148;.&#160; Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock.&#160; Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the six months ended June 30, 2012 and 2011 as their effect would be anti-dilutive:</p> <p style="margin:0in; margin-bottom:.0001pt">&nbsp;</p> <table width="418" style="width:4.35in; margin-left:.95in; border-collapse:collapse" cellpadding="0" cellspacing="0"> <tr style="height:15.0pt"> <td width="270" style="width:202.5pt; padding:0in 5.4pt 0in 5.4pt; height:15.0pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">Convertible Note Payable </p> </td> <td width="74" style="width:55.35pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:15.0pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">2012</p> </td> <td width="74" style="width:55.35pt; border:none; border-bottom:solid windowtext 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:15.0pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">2011</p> </td> </tr> <tr style="height:14.35pt"> <td width="270" style="width:202.5pt; padding:0in 5.4pt 0in 5.4pt; height:14.35pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt"> - stockholder (weighted average)</p> </td> <td width="74" style="width:55.35pt; padding:0in 5.4pt 0in 5.4pt; height:14.35pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">4,053,918</p> </td> <td width="74" style="width:55.35pt; padding:0in 5.4pt 0in 5.4pt; height:14.35pt" valign="bottom"> <p style="margin:0in; margin-bottom:.0001pt">3,877,677</p> </td> </tr> </table> <!--egx--><p style="margin:0in; margin-bottom:.0001pt">Going Concern</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $291,805 at June 30, 2012.&#160; The Company has no revenue generating operations and has limited cash resources.&#160; These factors raise substantial doubt about the ability of the Company to continue as a going concern. </p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">&nbsp;</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company&#146;s obligations through June 30, 2013 by obtaining additional financing from key officers, directors and certain investors.&#160; However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.</p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Fair Value of Financial Instruments</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments.</p> <!--egx--><p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Recently Issued Accounting Standards</p> <p style="margin:0in; margin-bottom:.0001pt; text-align:justify">Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements.</p> 4053918 3877677 45000 3912000 50000 .0125 674 0 674 1339 674 673 1000000 1000 30722192 0001089598 2012-04-01 2012-06-30 0001089598 2012-08-02 0001089598 fil:UnauditedMember 2012-06-30 0001089598 2011-12-31 0001089598 2011-04-01 2011-06-30 0001089598 2012-01-01 2012-06-30 0001089598 2011-01-01 2011-06-30 0001089598 2012-12-31 0001089598 2010-12-31 0001089598 2011-09-30 0001089598 2012-04-11 0001089598 2012-06-30 2012-07-01 0001089598 2011-12-31 2012-01-01 iso4217:USD shares iso4217:USD shares EX-101.SCH 5 bynn-20120630.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 000120 - Disclosure - Summary of Significant Accounting Policies: Going Concern (Policies) link:presentationLink link:definitionLink link:calculationLink 000140 - Disclosure - Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies) link:presentationLink link:definitionLink link:calculationLink 000040 - Statement - Baynon International Corp-Statement of Cash Flows link:presentationLink link:definitionLink link:calculationLink 000130 - Disclosure - Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) link:presentationLink link:definitionLink link:calculationLink 000110 - Disclosure - Summary of Significant Accounting Policies: Loss Per Share (Policies) link:presentationLink link:definitionLink link:calculationLink 000001 - Document - Dimensions link:presentationLink link:definitionLink link:calculationLink 000020 - Statement - Baynon International Corp- Balance Sheets link:presentationLink link:definitionLink link:calculationLink 000160 - Disclosure - 3. 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Subsequent Events
3 Months Ended
Jun. 30, 2012
Subsequent Events:  
Subsequent Events

Common stock value

 

5.     SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events through the date that the financial were issued.

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4. Common Stock
3 Months Ended
Jun. 30, 2012
4. Common Stock:  
4. Common Stock

        COMMON STOCK

 

On April 10, 2012, the Company issued 1,000,000 shares of common stock to an investor for $1,000 ($0.001 per share).

XML 14 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Baynon International Corp- Balance Sheets (USD $)
Dec. 31, 2011
Jun. 30, 2012
Unaudited
Cash and cash equivalents $ 1,520 $ 28,345
TOTAL CURRENT ASSETS 1,520 28,345
TOTAL ASSETS 1,520 28,345
Accounts payable and accrued expenses 30,860 14,768
Convertible note payable - stockholder 0 50,000
Accrued interest - stockholders 0 674
TOTAL CURRENT LIABILITIES 30,860 65,442
Common stock, par value $.001, authorized 50,000,000 shares, issued and outstanding 30,772,192 shares at June 30, 2012 and 29,772,192 shares at December 31 2011 29,772 30,772
Additional paid-in capital 223,936 223,936
Accumulated deficit (283,048) (291,805)
TOTAL STOCKHOLDERS' DEFICIENCY (29,340) (37,097)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 1,520 $ (28,345)
XML 15 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Summary of Significant Accounting Policies
3 Months Ended
Jun. 30, 2012
Summary of Significant Accounting Policies:  
Summary of Significant Accounting Policies

2.       SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Interim Presentation

The December 31, 2011 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles.  In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of  June 30, 2012, its results of operations for the three and six months ended June 30, 2012 and 2011 and its cash flows for the six months ended June 30, 2012 and 2011.

 

The statements of operations for the three and six months ended June 30, 2012 and 2011 are not necessarily indicative of the results for the full year.

 

While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company’s annual Report on Form 10-K for the year ended December 31, 2011.

 

Loss Per Share

The Company computes loss per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 260, “Earnings Per Share”.  Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock.  Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the six months ended June 30, 2012 and 2011 as their effect would be anti-dilutive:

 

Convertible Note Payable

2012

2011

- stockholder (weighted average)

4,053,918

3,877,677

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $291,805 at June 30, 2012.  The Company has no revenue generating operations and has limited cash resources.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.

 

Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company’s obligations through June 30, 2013 by obtaining additional financing from key officers, directors and certain investors.  However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

 

Fair Value of Financial Instruments

The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments.

 

Recently Issued Accounting Standards

Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements.

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3. Convertible Notes Payable - Stockholders
3 Months Ended
Jun. 30, 2012
3. Convertible Notes Payable - Stockholders:  
3. Convertible Notes Payable - Stockholders

CONVERTIBLE NOTES PAYABLE - STOCKHOLDERS

 

In 2009 and 2010, the Company issued unsecured convertible notes payable to stockholders in exchange for $45,000 in cash, for the Company’s working capital needs.  In the third quarter of 2011, the notes and accrued interest thereon were converted into 3,912,000 shares of the Company’s common stock.

 

On April 10, 2012, the Company issued an unsecured convertible note payable to a stockholder in exchange for $50,000 in cash for the Company’s working capital needs. The note bears interest at 6% per annum and matures on April 10, 2013. The stockholder has the option to convert the note and accrued interest into the Company’s common stock at $.0125 per share.

Notes payable accrued interest

At June 30, 2012 and December 31, 2011, accrued interest on the notes was $674 and $-0-, respectively.  Interest expense amounted to $674 and $1,339 for the six months ended June 30, 2012 and 2011, respectively.  Interest expense amount to $674 and $673 for the three months ended June 30, 2012 and 2011, respectively.

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Baynon International Corp- Statement of Operations (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues $ 0 $ 0 $ 0 $ 0
Cost of revenue 0 0 0 0
Gross Profit 0 0 0 0
General and administrative expenses 3,743 3,375 8,094 7,801
Total Other Costs 3,743 3,375 8,094 7,801
Operating loss (3,743) (3,375) (8,094) (7,801)
Interest income 11 3 11 7
Interest expense - stockholders 674 673 674 1,339
Total Other Income (Expense) (663) (670) (663) (1,332)
Net Loss (4,406) (4,045) (8,757) (9,133)
Basic and diluted earnings (loss) per common share $ 0 $ 0 $ 0 $ 0
Basic and diluted common shares outstanding $ 30,662,301 $ 25,860,192 $ 30,217,247 $ 25,860,192
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4. Common Stock (Details) (USD $)
Apr. 11, 2012
Dec. 31, 2011
Jun. 30, 2012
Unaudited
Common Stock, Shares, Issued 1,000,000    
Common stock, par value $.001, authorized 50,000,000 shares, issued and outstanding 30,772,192 shares at June 30, 2012 and 29,772,192 shares at December 31 2011 $ 1,000 $ 29,772 $ 30,772
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Document and Entity Information (USD $)
3 Months Ended
Jun. 30, 2012
Aug. 02, 2012
Document and Entity Information:    
Entity Registrant Name Baynon International Corp  
Document Type 10-Q  
Document Period End Date Jun. 30, 2012  
Amendment Flag false  
Entity Central Index Key 0001089598  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   30,722,192
Entity Public Float   $ 30,722
Entity Filer Category Smaller Reporting Company  
Entity Current Reporting Status Yes  
Entity Voluntary Filers Yes  
Entity Well-known Seasoned Issuer No  
Document Fiscal Year Focus 2012  
Document Fiscal Period Focus Q2  
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Baynon International Corp-Statement of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Net Loss $ (8,757) $ (9,133)
Increase in accounts payable and accrued expenses (16,092) 4,501
Increase in accrued interest - stockholders 674 1,339
Net cash used in operating activities (24,175) (3,293)
Proceeds from stockholder note payable 50,000 0
Proceeds from issuance of common stock 1,000 0
Net cash provided by financing activities 51,000 0
Decrease in Cash and Cash Equivalents 26,825 (3,293)
Cash and Cash Equivalents, beginning of period 1,520 7,890
Cash and Cash Equivalents, end of period 28,345 4,597
Income taxes 500 500
Interest $ 0 $ 0
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Summary of Significant Accounting Policies: Going Concern (Policies)
3 Months Ended
Jun. 30, 2012
Going Concern:  
Going Concern

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has incurred continuing operating losses and has an accumulated deficit of $291,805 at June 30, 2012.  The Company has no revenue generating operations and has limited cash resources.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.

 

Management believes that it will be able to achieve a satisfactory level of liquidity to meet the Company’s obligations through June 30, 2013 by obtaining additional financing from key officers, directors and certain investors.  However, there can be no assurance that the Company will be able to generate sufficient liquidity to maintain its operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

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Summary of Significant Accounting Policies: Loss Per Share (Policies)
3 Months Ended
Jun. 30, 2012
Loss Per Share:  
Loss Per Share

Loss Per Share

The Company computes loss per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 260, “Earnings Per Share”.  Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding, Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock.  Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. The following securities have been excluded from the calculation of loss per share for the six months ended June 30, 2012 and 2011 as their effect would be anti-dilutive:

 

Convertible Note Payable

2012

2011

- stockholder (weighted average)

4,053,918

3,877,677

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Summary of Significant Accounting Policies: Loss Per Share (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Notes payable and accrued interest $ 4,053,918 $ 3,877,677
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Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)
3 Months Ended
Jun. 30, 2012
Fair Value of Financial Instruments:  
Fair Value of Financial Instruments

Fair Value of Financial Instruments

The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts payable, notes payable, and accrued expenses approximate fair value based on the short-term maturity of those instruments.

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Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies)
3 Months Ended
Jun. 30, 2012
Recently Issued Accounting Standards:  
Recently Issued Accounting Standards

Recently Issued Accounting Standards

Management does not believe that any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements.

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3. Convertible Notes Payable - Stockholders (Details) (USD $)
0 Months Ended 3 Months Ended 6 Months Ended
Jul. 01, 2012
Jan. 01, 2012
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Apr. 11, 2012
Sep. 30, 2011
Dec. 31, 2010
Convertible Notes Payable             $ 50,000   $ 45,000
Conversion of Stock, Shares Converted (Deprecated 2011-01-31)               3,912,000  
Common Stock, Par or Stated Value Per Share             $ 0.0125    
Debt Instrument, Increase, Accrued Interest 674 0              
Interest expense - stockholders     $ 674 $ 673 $ 674 $ 1,339      
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The Company
3 Months Ended
Jun. 30, 2012
The Company:  
The Company

 

1.       THE COMPANY

 

Baynon International Corp. formerly known as Technology Associates Corporation (the “Company”), was originally incorporated on February 29, 1968 under the laws of the Commonwealth of Massachusetts to engage in any lawful corporate undertaking.  On December 28, 1989, the Company reincorporated under the laws of the State of Nevada.  The Company was formerly engaged in the technology marketing business and its securities traded on the National Association of Securities Dealers OTC Bulletin Board.  The Company has not engaged in any business operations for at least the last eight fiscal years and has no operations to date.

 

The Company will attempt to identify and negotiate with a business target for the merger of that entity with and into the Company.  In certain instances, a target company may wish to become a subsidiary of the company or wish to contribute assets to the Company rather than merge.

 

No assurance can be given that the Company will be successful in identifying or negotiating with any target company.  The Company provides a means for a foreign or domestic private company to become a reporting (public) company whose securities would be qualified for trading in the United States secondary market.

XML 30 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Summary of Significant Accounting Policies: Interim Presentation (Policies)
3 Months Ended
Jun. 30, 2012
Interim Presentation:  
Interim Presentation

Interim Presentation

The December 31, 2011 balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles.  In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of  June 30, 2012, its results of operations for the three and six months ended June 30, 2012 and 2011 and its cash flows for the six months ended June 30, 2012 and 2011.

 

The statements of operations for the three and six months ended June 30, 2012 and 2011 are not necessarily indicative of the results for the full year.

 

While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company’s annual Report on Form 10-K for the year ended December 31, 2011.

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