0001165527-15-000140.txt : 20150331 0001165527-15-000140.hdr.sgml : 20150331 20150330184540 ACCESSION NUMBER: 0001165527-15-000140 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20141231 FILED AS OF DATE: 20150331 DATE AS OF CHANGE: 20150330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Snoogoo Corp. CENTRAL INDEX KEY: 0001387998 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 205619324 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-140445 FILM NUMBER: 15735914 BUSINESS ADDRESS: STREET 1: 7150 E CAMELBACK ROAD CITY: SCOTTSDALE STATE: AZ ZIP: 85251 BUSINESS PHONE: 800-234-3919 MAIL ADDRESS: STREET 1: 7150 E CAMELBACK ROAD CITY: SCOTTSDALE STATE: AZ ZIP: 85251 FORMER COMPANY: FORMER CONFORMED NAME: CASEY CONTAINER CORP DATE OF NAME CHANGE: 20100114 FORMER COMPANY: FORMER CONFORMED NAME: Sawadee Ventures Inc. DATE OF NAME CHANGE: 20070126 10-K 1 g7806.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2014 Commission file number 333-140445 Snoogoo Corp. (Exact Name of Registrant as Specified in Its Charter) NEVADA 20-5619324 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 7150 E Camelback Road, Scottsdale, AZ 85251 (Address of principal executive offices, including zip code) (800) 234-3919 (Telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to section 12(g) of the Act: Common Stock, $.001 par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X] Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act Yes [ ] No [X] Indicate by check mark whether the registrant (1) has 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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [X] (Do not check if a smaller reporting company) 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 aggregate market value of the issuer's voting and non-voting common equity stock held as of March 27, 2015 by non-affiliates of the issuer was $6,197,588 based on the closing price of the registrant's common stock on such date. As of March 27, 2015 there were 154,939,701 shares of $.001 par value common stock issued and outstanding. SNOOGOO, CORP. TABLE OF CONTENTS Page No. -------- Part I Item 1. Business 3 Item 1A. Risk Factors 4 Item 2. Properties 8 Item 3. Legal Proceedings 8 Item 4. Mine Safety Disclosures 8 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 8 Item 6. Selected Financial Data 9 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 9 Item 8. Financial Statements 11 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 27 Item 9A. Controls and Procedures 27 Item 9B. Other Information 28 Part III Item 10. Directors and Executive Officers 28 Item 11. Executive Compensation 30 Item 12. Security Ownership of Certain Beneficial Owners and Management 31 Item 13. Certain Relationships and Related Transactions 32 Item 14. Principal Accounting Fees and Services 33 Part IV Item 15. Exhibits 33 Signatures 34 2 PART I ITEM 1. BUSINESS Snoogoo, Corp, a Nevada corporation formally known as Casey Container Corp., was incorporated in the State of Nevada on September 26, 2006 under the name Sawadee Ventures Inc. to engage in the acquisition, exploration and development of natural resource properties of merit. In September 2008, we ceased our exploration activities, and we became a development stage company. Accordingly, our financial statements reflect our results in accordance with the disclosure requirements for a development stage company. We are currently considered a "shell" company inasmuch for the periods ending December 31, 2014 and 2013 we did not generate revenues, did not own an operating business and had no employees and no material assets. In November of 2009 we entered into an Additive Supply and License Agreement with Bio-Tec Environmental, developer of the breakthrough EcoPure(R) technology. On January 6, 2010 Ms. Rachna Khanna tendered her resignation as the President, CEO, CFO and Director. The same day Mr. James Casey, Mr. Terry Neild, and Mr. Robert Seaman were appointed as Directors of the Company. Mr. Casey filled the position of President, Mr. Neild was appointed Chief Executive Officer, Chief Financial Officer and Secretary, and Mr. Seaman was appointed Vice- President-Operations. In January 2015 the Company ended its Additive Supply and License Agreement with Bio-Tec Environmental. On February 11, 2015 the Company entered into an Asset Purchase Agreement for the acquisition of a new social information network technology that it plans to use in order to launch web and mobile applications with broad global appeal. The technology represents a breakthrough in common information networks by allowing individuals and groups to search, bookmark and share all forms of digital content, both privately and publicly, based on their own or shared interests. Snoogoo Corp. is the developer of a new website platform designed to allow individuals and groups to search, save and share a wide variety of digital information online. Snoogoo can tap into organic content archived on Snoogoo, search engines, video, audio and image resources, as well as social media and reference sources in a single intelligent interface. Snoogoo has broad appeal for people in all walks of life as a powerful research tool, for general information gathering and sharing, in education, for shopping, and as a social portal that focuses users' interests and helps to organize their digital life. Snoogoo describes its technology as a breakthrough in common information networks that allows individuals and groups to search, bookmark (or save) and share nearly all forms of digital content, both privately and publicly, based on their own or shared interests. It will create an information network that combines the most commonly used functions of search and social media interaction in a single website and across the most popular mobile media platforms, including smartphones and tablets. Snoogoo intends to make the new technology and platform the Company's primary business going forward and is preparing its technology for deployment with plans for the initial website launch, followed by mobile apps. As of March 27, 2015, we had no employees other than its corporate officers. The Company uses independent contractors who provide technology services, and public relations. Snoogoo has not experienced any work stoppages and it considers relations with its independent contractors to be good. From time to time, Snoogoo may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm its business. Snoogoo is currently not aware of any such legal proceedings or claims that they believe will have, individually or in the aggregate, a material adverse affect on its business, financial condition or operating results. Snoogoo currently utilize space, for no charge, at 7150 E Camelback Road, Scottsdale, AZ 85251. 3 The implementation of our business objectives is wholly contingent upon the successful sale of our securities. We intend to utilize the proceeds of any offering, any sales of equity securities or debt securities, bank and other borrowings or a combination of those sources to effect our growth potential. While we may, under certain circumstances, seek to effect business combinations with additional target business, unless additional financing is obtained, we may not have sufficient proceeds remaining after an initial business combination to undertake additional business combinations. The Company has established a public trading market for its shares thus avoiding the perceived adverse consequences of undertaking a public offering itself, such as the time delays and significant expenses incurred to comply with the various federal and state securities law that regulate initial public offerings. As a result of our limited resources, unless and until additional financing is obtained we expect to have sufficient proceeds to effect only a single business combination. Accordingly, the prospects for our success will be entirely dependent upon the future performance of a single business. Unlike certain entities that have the resources to consummate several business combinations or entities operating in multiple industries or multiple segments of a single industry, we will not have the resources to diversify our operations or benefit from the possible spreading of risks or offsetting of losses. Our business is dependent upon the development or market acceptance of a single or limited number of products, processes or services, in which case there will be an even higher risk that the business will not prove to be commercially viable. Our current officers are devoted full time to our affairs. Our officers may be entitled to receive compensation for such services. We depend on outside consultants, advisors, attorneys and accountants as necessary, some of which will be hired on a retainer basis. We do anticipate on hiring full-time employees as we develop the Company's business. ITEM 1A. RISK FACTORS IN ADDITION TO THE OTHER INFORMATION PROVIDED IN THIS REPORT, YOU SHOULD CAREFULLY CONSIDER THE FOLLOWING FACTORS IN EVALUATING OUR BUSINESS, OPERATIONS AND FINANCIAL CONDITION. ADDITIONAL RISKS AND UNCERTAINTIES NOT PRESENTLY KNOWN TO US, THAT WE CURRENTLY DEEM IMMATERIAL OR THAT ARE SIMILAR TO THOSE FACED BY OTHER COMPANIES IN OUR INDUSTRY OR BUSINESS IN GENERAL, SUCH AS COMPETITIVE CONDITIONS, MAY ALSO IMPAIR OUR BUSINESS OPERATIONS. THE OCCURRENCE OF ANY OF THE FOLLOWING RISKS COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL CONDITION AND RESULTS OF OPERATIONS. WE HAVE NO RECENT OPERATING HISTORY OR BASIS FOR EVALUATING PROSPECTS. Since September 2006, up to the period ending 12/31/2014, we had no operating business. We have entered into a new business model and may seek acquisitions and/or business combination with another operating company similar to our current business model, namely internet search engine social media website. To date, our efforts have been limited to meeting our regulatory filing requirements and business development. WE HAVE LIMITED RESOURCES AND NO REVENUES FROM OPERATIONS, AND WILL NEED ADDITIONAL FINANCING IN ORDER TO EXECUTE ANY BUSINESS PLAN. We have limited resources, no revenues from operations to date and our cash on hand may not be sufficient to satisfy our cash requirements during the next twelve months. In addition, we will not achieve any revenues (other than insignificant investment income) until, at the earliest, the Company's new business model is executed and we cannot ascertain our full capital requirements until such time. Further limiting our abilities to achieve revenues, in order to avoid status as an "Investment Company" under the Investment Company Act, we can only invest our funds prior to a merger in limited investments which do not invoke Investment Company status. There can be no assurance that determinations ultimately made by us will permit us to achieve our business objectives. THERE MAY BE CONFLICTS OF INTEREST BETWEEN OUR MANAGEMENT AND OUR NON-MANAGEMENT STOCKHOLDERS. Conflicts of interest create the risk that management may have an incentive to act adversely to the interests of other investors. Our officers may be entitled 4 to receive compensation from a target company they identify or provide services to in connection with a business combination and receive compensation for such services. A conflict of interest may arise between our management's personal pecuniary interest and their fiduciary duty to our stockholders. Further, our management's own pecuniary interest may at some point compromise their fiduciary duty to our stockholders. We cannot assure you that conflicts of interest among us, our management and our stockholders will not develop. WE CURRENTLY HAVE NO AGREEMENT FOR A BUSINESS COMBINATION OR OTHER TRANSACTION. On September 18, 2013, the Company entered into a Stock Purchase Agreement ("Agreement") with Aruba Brands Corp ("Aruba"), whereby Aruba will acquire for $1.5 million, 19.9% in restricted Common shares, based upon the total of the Company's issued and outstanding shares upon completion of the funding of this Agreement. The contemplated funding has not occurred as of December 31, 2014 nor the date of this Filing. CURRENT STOCKHOLDERS WILL BE IMMEDIATELY AND SUBSTANTIALLY DILUTED UPON A MERGER OR BUSINESS COMBINATION. For the year ending December 31, 2014 the Company's Articles of Incorporation authorized the issuance of 250,000,000 shares of Common Stock and 10,000,000 Preferred Shares. On February 9, 2015 the Board of Directors approved an increase of the authorized common shares from 250,000,000 to 1,000,000,000. There are currently 845,060,299authorized but unissued shares of Common Stock available for issuance. To the extent that additional shares of Common Stock are authorized and issued in connection with a merger or business combination, our stockholders could experience significant dilution of their respective ownership interests. Furthermore, the issuance of a substantial number of shares of Common Stock may adversely affect prevailing market prices, if any, for the Common Stock and could impair our ability to raise additional capital through the sale of equity securities. CONTROL BY EXISTING STOCKHOLDER. No one person is in control of the outstanding shares. OUR COMMON STOCK IS A "PENNY STOCK" WHICH MAY RESTRICT THE ABILITY OF STOCKHOLDERS TO SELL OUR COMMON STOCK IN THE SECONDARY MARKET. The SEC has adopted regulations which generally define "penny stock" to be an equity security that has a market price, as defined, of less than $5.00 per share, or an exercise price of less than $5.00 per share, subject to certain exceptions, including an exception of an equity security that is quoted on a national securities exchange. Our Common Stock is not now quoted on a national exchange but is traded on FINRA's OTC Markets ("OTCQB"). Thus, they are subject to rules that impose additional sales practice requirements on broker-dealers who sell these securities. For example, the broker-dealer must make a special suitability determination for the purchaser of such securities and have received the purchaser's written consent to the transactions prior to the purchase. Additionally, the rules require the delivery, prior to the transaction, of a disclosure schedule prepared by the SEC relating to the penny stock market. The broker-dealer also must disclose the commissions payable to both the broker-dealer and the registered underwriter, and current quotations for the securities, and, if the broker-dealer is the sole market maker, the broker-dealer must disclose this fact and the broker-dealer presumed control over the market. Finally, among other requirements, monthly statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks. The "penny stock" rules, may restrict the ability of our stockholders to sell our Common Stock in the secondary market. LIQUIDITY IS LIMITED, AND WE MAY BE UNABLE TO OBTAIN LISTING OF OUR COMMON STOCK ON A MORE LIQUID MARKET. Our Common Stock is quoted on the FINRA'S OTC Markets ("OTCQB"), which provides significantly less liquidity than a securities exchange (such as the American or New York Stock Exchange) or an automated quotation system (such as the Nasdaq Global Market or Capital Market). There is uncertainty that we will ever be accepted for a listing on an automated quotation system or national securities exchange. 5 RISKS RELATED TO OUR NEW BUSINESS MODEL AND INDUSTRY THE COMPANY WILL NEED SIGNIFICANT ADDITIONAL CAPITAL, WHICH THEY MAY BE UNABLE TO OBTAIN. The Company's capital requirements in connection with its development activities and transition to commercial operations have been and will continue to be significant. The Company will require additional funds to build it marketing and advertising, lease office facility needed for further development, marketing and administrative support. There can be no assurance that financing will be available in amounts or on terms acceptable to the Company, if at all. THE COMPANY WILL FACE SIGNIFICANT COMPETITION. As stated earlier, Snoogoo Corp. is the developer of a new website platform designed to allow individuals and groups to search, save and share a wide variety of digital information online. Currently this space is dominated by search engine giants Google, Yahoo, Bing and social networking websites Facebook, Instagram, Twitter and many others. In addition to the leaders there are many others seeking to break into this multi-billion dollar industry. Competition is very significant and the Company will need to be proactive in separating itself from the crowd. What makes Snoogoo unique from its competitors is in its proprietary methods, and innovative architectures in combining existing search, online social networks with real person to person networking. The Company intends to utilize its proprietary methods, and innovative architectures of its platform to separate itself from its competitors and seek to ultimately be a leader in the internet search engine social media space. THE COMPANY'S OPERATING RESULTS MAY FLUCTUATE, MAKING RESULTS DIFFICULT TO PREDICT AND COULD CAUSE PROJECTED RESULTS TO FALL SHORT OF EXPECTATIONS. The Company's operating results may fluctuate as a result of a number of factors, many outside of the Company's control. As a result, comparing the Company's operating results on a period-to-period basis may not be meaningful, and it should not rely on the Company's past results as an indication of their future performance. The Company's quarterly, year-to-date, and annual expenses as a percentage of their revenues may differ significantly from historical or projected rates. The Company's operating results in future quarters may fall below expectations. Any of these events could cause the Company's stock price to fall. Each of the risk factors listed in Risk Factors, and the following factors may affect the Company's operating results: THE COMPANY'S BUSINESS AND OPERATIONS COULD EXPERIENCE RAPID GROWTH. IF THEY FAIL TO EFFECTIVELY MANAGE THEIR GROWTH, THEIR BUSINESS AND OPERATING RESULTS COULD BE HARMED. * Our ability to continue to attract customers. * The amount and timing of operating costs and capital expenditures related to the maintenance and expansion of the Company's businesses, operations and infrastructure. * The Company's focus on long-term goals over short-term results. * The results of investments in risky projects. * The Company's ability to keep operations operational at a reasonable cost and without service interruptions. * The Company's ability to achieve revenue goals for partners to whom they guarantee minimum payments or pay distribution fees. * The Company's ability to generate revenue from services in which they have invested considerable time and resources. The Company could experience rapid growth in its operations, which could place significant demands on management, operational and financial infrastructure. If the Company does not effectively manage its growth, the quality of their products and services could suffer, which could negatively affect branding and operating results. To effectively manage this growth, the Company will need to continue to improve its operational, financial and management controls and reporting systems and procedures. These systems enhancements and improvements could require significant capital expenditures and management resources. Failure to implement these improvements could hurt the Company's ability to manage its growth and financial position. 6 THE COMPANY'S INTELLECTUAL PROPERTY RIGHTS ARE VALUABLE, AND ANY INABILITY TO PROTECT THEM COULD REDUCE THE VALUE OF THEIR PRODUCTS, SERVICES AND BRAND. The Company's trademarks, trade secrets, copyrights and other intellectual property rights are important assets for the Company. Various events outside of their control pose a threat to their intellectual property rights as well as to their products and services. For example, effective intellectual property protection may not be available in every country in which their products are distributed. Also, the efforts the Company takes to protect its proprietary rights may not be sufficient or effective. Any significant impairment of their intellectual property rights could harm the Company's business or ability to compete. Also, protecting their intellectual property rights is costly and time consuming. THE COMPANY RELIES ON HIGHLY SKILLED PERSONNEL AND, IF THEY ARE UNABLE TO RETAIN OR MOTIVATE KEY PERSONNEL OR HIRE QUALIFIED PERSONNEL, THEY MAY NOT BE ABLE TO GROW EFFECTIVELY. The Company's performance largely depends on the talents and efforts of highly skilled individuals. Their future success depends on the Company's continuing ability to identify, hire, develop, motivate and retain highly skilled personnel for all areas of our organization. RISKS RELATED TO OWNERSHIP OF COMMON STOCK THE TRADING PRICE FOR THE COMPANY'S COMMON STOCK MAY BE VOLATILE The market price of the Company's common shares may experience fluctuations. The market price of common shares may be adversely affected by various factors, including proposed Internet legislation or enforcement of existing laws, innovation and technological changes, the emergence of new competitors, quarterly variations in revenue and results of operations, speculation in the press or analyst community and general market conditions or market conditions specific to particular industries, including the Internet and gaming. THERE IS A LIMITED MARKET FOR THE COMPANY'S COMMON STOCK, WHICH MAY MAKE IT DIFFICULT TO SELL STOCK. The Company's common stock trades on the OTCQB under the symbol "SGOO." There is a limited trading market for their common stock. Accordingly, there can be no assurance as to the liquidity of any markets that may develop for the Company's common stock, the ability of holders of the Company's common stock to sell the Company's common stock, or the prices at which holders may be able to sell the Company's common stock. SGOO'S SHARES ARE SUBJECT TO THE U.S. "PENNY STOCK" RULES AND INVESTORS WHO PURCHASE SHARES MAY HAVE DIFFICULTY RE-SELLING THEIR SHARES AS THE LIQUIDITY OF THE MARKET FOR SHARES MAY BE ADVERSELY AFFECTED BY THE IMPACT OF THE "PENNY STOCK" RULES. The Company's stock is subject to U.S. "Penny Stock" rules, which may make the stock more difficult to trade on the open market. The Company's common shares currently trade on the OTCQB. A "penny stock" is generally defined by regulations of the U.S. Securities and Exchange Commission ("SEC") as an equity security with a market price of less than US $5.00 per share. However, an equity security with a market price under US $5.00 will not be considered a penny stock if it fits within any of the following exceptions: (i) the equity security is listed on NASDAQ or a national securities exchange; (ii) the issuer of the equity security has been in continuous operation for less than three years, and either has (a) net tangible assets of at least US$5,000,000, or (b) average annual revenue of at least US$6,000,000; or (iii) the issuer of the equity security has been in continuous operation for more than three years, and has net tangible assets of at least US$2,000,000. The Company's common stock does not currently fit into any of the above exceptions. If an investor buys or sells a penny stock, SEC regulations require that the investor receive, prior to the transaction, a disclosure explaining the penny stock market and associated risks. Furthermore, trading in SGOO's common stock is currently subject to Rule 15g-9 of the Exchange Act, which relates to 7 non-NASDAQ and non-exchange listed securities. Under this rule, broker/dealers who recommend the Company's securities to persons other than established customers and accredited investors must make a special written suitability determination for the purchaser and receive the purchaser's written agreement to a transaction prior to sale. Securities are exempt from this rule if their market price is at least $5.00 per share. Since the Company's common stock is currently deemed a penny stock, it may tend to reduce market liquidity of the Company's common stock, because they limit the broker/dealers' ability to trade, and a purchaser's ability to sell, the stock in the secondary market. A low price of the Company's common stock has a negative effect on the amount and percentage of transaction costs paid by individual shareholders. A low price of the Company's common stock also limits the Company's ability to raise additional capital by issuing additional shares. There are several reasons for these effects. First, the internal policies of certain institutional investors prohibit the purchase of low-priced stocks. Second, many brokerage houses do not permit low-priced stocks to be used as collateral for margin accounts or to be purchased on margin. Third, some brokerage house policies and practices tend to discourage individual brokers from dealing in low-priced stocks. Finally, broker's commissions on low-priced stocks usually represent a higher percentage of the stock price than commissions on higher priced stocks. As a result, the Company's shareholders may pay transaction costs that are a higher percentage of their total share value than if the Company's share price were substantially higher. For more information about penny stocks, contact the Office of Filings, Information and Consumer Services of the U.S. Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549, or by telephone at (202) 272-7440. ITEM 2. PROPERTIES We currently utilize space, for no charge, at 7150 E. Camelback Road, Suite 444, Scottsdale, AZ 85251. The facilities include an answering machine, a fax machine, computer and office equipment. We intend to use these facilities for the time being until we feel we have outgrown them. We currently have no investment policies as they pertain to real estate, real estate interests or real estate mortgages. ITEM 3. LEGAL PROCEEDINGS Snoogoo, Corp. is not currently involved in any legal proceedings and we are not aware of any pending or potential legal actions. ITEM 4. MINE SAFETY DISCLOSURES Not Applicable. PART II ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS (a) Market Information: Our Common Stock is traded on FINRA's OTC Markets ("OTCQB") market under the symbol "SGOO". To date, there has not been an active trading market. (b) Holders: At December 31, 2015 and 2014, 280 and 261 certificate holding stockholders of record of our Common Stock. (c) Dividend: We have not declared any cash dividends and do not intend to declare or pay any cash dividends in the foreseeable future. (d) Transfer Agent: The company has retained Pacific Stock Transfer of 4045 South Spencer Street Suite 403 Las Vegas, Nevada as their transfer agent. 8 ITEM 6. SELECTED FINANCIAL DATA Not Applicable under smaller reporting company disclosure rules. ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD LOOKING STATEMENTS Some of the statements contained in this Form 10-K that are not historical facts are "forward-looking statements" which can be identified by the use of terminology such as "estimates," "projects," "plans," "believes," "expects," "anticipates," "intends," or the negative or other variations, or by discussions of strategy that involve risks and uncertainties. We urge you to be cautious of the forward-looking statements, that such statements, which are contained in this Form 10-K, reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors affecting our operations, market growth, services, products and licenses. No assurances can be given regarding the achievement of future results, as actual results may differ materially as a result of the risks we face, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events. Factors that may cause actual results, our performance or achievements, or industry results, to differ materially from those contemplated by such forward-looking statements include without limitation: * Our ability to attract and retain management, and to integrate and maintain technical information and management information systems; * Our ability to raise capital when needed and on acceptable terms and conditions; * The intensity of competition; and * General economic conditions. All written and oral forward-looking statements made in connection with this Form 10-K that are attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given the uncertainties that surround such statements, you are cautioned not to place undue reliance on such forward-looking statements. SNOOGOO CORP. PLAN OF OPERATIONS Snoogoo Corp., a Nevada corporation, was incorporated under the name Sawadee Ventures Inc. in the State of Nevada on September 26, 2006. The Company was formed to engage in the acquisition, exploration and development of natural resource properties of merit. In November of 2009 we entered into an Additive Supply and License Agreement with Bio-Tec Environmental, developer of the breakthrough EcoPure(R) technology. In January 2015 the Company ended its Additive Supply and License Agreement with Bio-Tec Environmental. On February 11, 2015 the Company entered into an Asset Purchase Agreement for the acquisition of a new social information network technology that it plans to use in order to launch web and mobile applications with broad global appeal. We have not generated any income since inception, as of the years ended December 31, 2014 and 2013, have incurred a net loss of $280,708 and $601,002, respectively. We are currently focusing on generating revenue by implementing three phases of our strategy. First, we plan to raise capital to purchase manufacturing equipment and lease a manufacturing facility. Second, we plan to increase our customer base. Third, we intend to leverage our assets to expand our business model through the acquisitions of related businesses. SNOOGOO CORP. RESULTS OF OPERATIONS Revenues: The Company is a Development stage company and has not generated any revenues during the period from inception to December 31, 2014. 9 Property and equipment: The Company currently owns no equipment. Total Expenses: The Company incurred operating expenses and interest expense for the years ended December 31, 2014 and 2013 of $274,576 and $600,226, and $6,132 and $776 ,respectively, due to administrative and interest expenses. Net Income (Loss): The Company incurred losses for the years ended December 31, 2014 and 2013 of $280,708 and $601,002 respectively, due to impairment of long-term assets and administrative and interest expenses. Liquidity and Capital Resources: For purposes of reporting cash flows, cash includes demand deposits, time deposits, and short-term cash equivalents with original maturities of three months or less. As of December 31, 2014 and 2013, Snoogoo had $85 and $74, respectively. Off Balance Sheet Arrangements: We do not have any off balance sheet arrangements as of December 31, 2014 and December 31, 2013. The Company sold for cash $367,927 of equity securities from inception thru December 31, 2014. In the year ended December 31, 2014, the Company issued 505,000 common shares in exchange for amounts owed to a debtor. The following table provides selected financial data about Snoogoo, Corp. for the periods ending December 31, 2014 and 2013. Balance Sheet Data: 12/31/14 12/31/13 ------------------- -------- -------- Cash $ 85 $ 74 Total assets $ 85 $ 74 Total liabilities $ 882,642 $ 687,123 Shareholders' equity $(882,557) $(687,049) CRITICAL ACCOUNTING ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. EFFECT OF RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In accordance with the reporting requirements of SFAS No. 107, DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS, the Company calculates the fair value of its assets and liabilities which qualify as financial instruments under this statement and includes this additional information in the notes to the financial statements when the fair value is different than the carrying value of those financial instruments. The estimated fair value of cash, accounts payable and credit cards payable approximate their carrying amounts due to the short maturity of these instruments. At December 31, 2014, the Company did not have any other financial instruments. INCOME TAXES The Company accounts for corporate income taxes in accordance with Statement of Financial Accounting Standards (SFAS) No. 109. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the financial statements and tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in the years in which the differences are expected to be settled or realized. 10 ITEM 8. FINANCIAL STATEMENTS [LETTERHEAD OF SEALE AND BEERS, CPAS] REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of SNOOGOO Corp. (Formerly Casey Container Corp.) We have audited the accompanying balance sheets of SNOOGOO Corp. (Formerly Casey Container Corp.) as of December 31, 2013 and 2014, and the related statements of income, stockholders' equity (deficit), and cash flows for each of the years in the two-year period ended December 31, 2014. SNOOGOO Corp. (Formerly Casey Container Corp.)'s management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of SNOOGOO Corp. (Formerly Casey Container Corp.) as of December 31, 2014, and 2013 and the related statements of income, stockholders' equity (deficit), and cash flows for each of the years in the two-year period ended December 31, 2014, in conformity with accounting principles generally accepted in the United States of America. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has no revenues, has negative working capital at December 31, 2014, has incurred recurring losses and recurring negative cash flow from operating activities, and has an accumulated deficit which raises substantial doubt about its ability to continue as a going concern. Management's plans concerning these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. /s/ Seale and Beers, CPAS ----------------------------------- Seale and Beers, CPAs Las Vegas, Nevada March 23, 2015 11 SNOOGOO CORP. (formerly Casey Container Corp.) Balance Sheets (Expressed in U.S. Dollars) (Audited)
As Of As Of December 31, 2014 December 31, 2013 ----------------- ----------------- ASSETS CURRENT ASSETS Cash $ 85 $ 74 ------------ ------------ Total Current Assets 85 74 ------------ ------------ Total Assets $ 85 $ 74 ============ ============ LIABILITIES CURRENT LIABILITIES Accounts Payable and Accrued Liabilities $ 172,624 $ 157,145 Interest and Non-interest Bearing Loans From Related Parties 33,800 4,850 Interest and Non-interest Bearing Loans 76,931 99,749 Due to Related Parties 599,287 425,379 ------------ ------------ Total Current Liabilities 882,642 687,123 ------------ ------------ STOCKHOLDERS' EQUITY Preferred Stock 10,000,000 authorized, par value $0.001, Common Stock 250,000,000 authorized shares, par value $0.001 94,771,701 and 92,700,034 shares issued and outstanding at December 31, 2014 and December 31, 2013 94,772 92,700 Additional Paid-in-Capital 3,560,384 3,477,256 Deficit (4,537,713) (4,257,005) ------------ ------------ Total Stockholders' Equity (882,557) (687,049) ------------ ------------ Total Liabilities and Stockholders' Equity $ 85 $ 74 ============ ============
The accompanying notes are an integral part of these financial statements. 12 SNOOGOO CORP. (formerly Casey Container Corp.) Statements of Operations (Expressed in U.S. Dollars) (Audited)
For the Year For the Year Ended Ended December 31, 2014 December 31, 2013 ----------------- ----------------- REVENUES: Revenues $ -- $ -- ------------ ------------ Total Revenues -- -- ------------ ------------ EXPENSES: Operating Expenses General and administrative 274,576 600,226 ------------ ------------ Operating Expenses 274,576 600,226 ------------ ------------ Other Expenses Interest 6,132 776 ------------ ------------ Total Other Expenses 6,132 776 ------------ ------------ PROVISION FOR INCOME TAXES: Income Tax Benefit -- -- ------------ ------------ Net Income (Loss) for the period $ (280,708) $ (601,002) ============ ============ Basic and Diluted Earnings Per Common Share $ (0.00) $ (0.01) ------------ ------------ Weighted Average number of Common Shares used in per share calculations 94,448,130 76,512,135 ============ ============
The accompanying notes are an integral part of these financial statements. 13 SNOOGOO CORP. (formerly Casey Container Corp.) Statements of Stockholders' Equity (Deficit) December 31, 2014 (Expressed in U.S. Dollars) (Audited)
Common Stock Common Stock Issuable Additional ------------------- --------------- Paid-In Stockholders' Shares Amount Shares Amount Capital Deficit Equity ------ ------ ------ ------ ------- ------- ------ Balance, December 31, 2012 69,566,701 $69,567 -- $ -- $ 2,263,889 $(3,656,003) $(1,322,547) Stock cancelled at $0.24 per share on January 15, 2013 from the original issuance on August 30, 2012 (300,000) (300) -- -- (71,700) -- (72,000) Stock cancelled at $0.22 per share on January 15, 2013 from the original issuance on December 12, 2012 (150,000) (150) -- -- (32,850) -- (33,000) Stock issued at $0.15 per share for investor relations services on February 13, 2013 450,000 450 -- -- 67,050 -- 67,500 Stock issued at $0.10 per share for compensation to Board Members on April 17, 2013 600,000 600 -- -- 59,400 -- 60,000 Stock issued at $0.05 per share for debt to consultant on May 20, 2013 1,000,000 1,000 -- -- 49,000 -- 50,000 Stock issued at $0.06 per share for debt to Chairman on June 24, 2013 1,533,333 1,533 -- -- 90,467 -- 92,000 Stock issued at $0.06 per share for debt to a Vice President on June 24, 2013 1,000,000 1,000 -- -- 59,000 -- 60,000 Stock issued at $0.06 per share for debt to the CEO on June 24, 2013 8,500,000 8,500 -- -- 501,500 -- 510,000 Stock issued at $0.05 per share for cash on July 22, 2013 400,000 400 -- -- 19,600 -- 20,000 Stock issued at $0.08 per share for consulting services on July 22, 2013 100,000 100 -- -- 7,900 -- 8,000 Stock cancelled at $0.06 per share on August 27, 2013 from the original issuance to a Vice President on June 24, 2012 (300,000) (300) -- -- (17,700) -- (18,000) Stock issued at $0.06 per share for debt to President on September 26, 2013 300,000 300 -- -- 17,700 -- 18,000 Stock issued at $0.08 per share for investor relations services on October 1, 2013 200,000 200 -- -- 15,800 -- 16,000 Stock issued at $0.06 per share for debt to Chairman on October 25, 2013 1,300,000 1,300 -- -- 76,700 -- 78,000
The accompanying notes are an integral part of these financial statements. 14 SNOOGOO CORP. (formerly Casey Container Corp.) Statements of Stockholders' Equity (Deficit) December 31, 2014 (Expressed in U.S. Dollars) (Audited) (continued)
Common Stock Common Stock Issuable Additional ------------------- --------------- Paid-In Stockholders' Shares Amount Shares Amount Capital Deficit Equity ------ ------ ------ ------ ------- ------- ------ Stock issued at $0.06 per share for debt to President on October 25, 2013 2,500,000 2,500 -- -- 147,500 -- 150,000 Stock issued at $0.03 per share for debt to consultant on November 26, 2013 1,000,000 1,000 -- -- 29,000 -- 30,000 Stock issued at $0.04 per share for debt to President on December 17, 2013 5,000,000 5,000 -- -- 195,000 -- 200,000 Net Loss for the Year December 31, 2013 -- -- -- -- -- (601,002) (601,002) ---------- ------- ------ ------ ----------- ----------- ----------- Balance, December 31, 2013 92,700,034 $92,700 -- $ -- $ 3,477,256 $(4,257,005) $ (687,049) Stock issued at $0.04 per share for debt on January 31, 2014 1,250,000 1,250 -- -- 48,750 -- 50,000 Stock issued at $0.04 per share for debt settlement agreement on April 4, 2014 505,000 505 -- -- 19,695 -- 20,200 Stock issued at $0.04 per share for cash on April 9, 2014 250,000 250 -- -- 9,750 -- 10,000 Stock issued at $0.075 per share for cash on April 17, 2014 66,667 67 -- -- 4,933 -- 5,000 Net Loss for the Year December 31, 2014 -- -- -- (280,708) (280,708) ---------- ------- ------ ------ ----------- ----------- ----------- Balance, December 31, 2014 94,771,701 $94,772 -- $ -- $ 3,560,384 $(4,537,713) $ (882,557) ========== ======= ====== ====== =========== =========== ===========
The accompanying notes are an integral part of these financial statements. 15 SNOOGOO CORP. (formerly Casey Container Corp.) Statements of Cash Flows (Expressed in U.S. Dollars) (Audited)
For the Year For the Year Ended Ended December 31, 2014 December 31, 2013 ----------------- ----------------- OPERATING ACTIVITIES: Net Loss $ (280,708) $ (601,002) Adjustments to reconcile net loss to net cash used in operating activities: Expenses paid on our behalf by Related Parties 237,580 510,625 Stock issued for services to Non-Officer Board Members -- 60,000 Stock issued for services to Non-Related Party -- 91,500 Stock issued to Non-Related Party for conversion of accounts payable 20,200 80,000 Accounts payables and loans due to Related Parties converted into stock 50,000 -- Stock cancelled due to rescission of agreements -- (105,000) Finance and interest charges added to loan payable 6,132 776 Accounts payable and accrued liabilities 15,479 53,646 ------------ ------------ Net Cash Provided from Operating Activities 48,683 90,545 ------------ ------------ FINANCING ACTIVITIES: Repayment of Related party expenses paid on our behalf (63,672) (118,843) Non-interest bearing loan from Related Party 28,950 4,850 Repayment of loan payable (28,950) -- Common stock issued and issuable for cash 15,000 20,000 ------------ ------------ Net Cash Provided from Financing Activities (48,672) (93,993) ------------ ------------ Net Increase (Decrease) in Cash 11 (3,448) ------------ ------------ Cash, Beginning of the Period 74 3,522 ------------ ------------ Cash, End of the Period $ 85 $ 74 ============ ============ SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest $ -- $ -- ============ ============ Cash paid for income taxes $ -- $ -- ============ ============ NON CASH ACTIVITIES: Expenses incurred on our behalf and loans from Related Parties exchanged for 1,250,000, 5,000,000, 3,800,000, and 11,033,333 Common shares on January 31, 2014, December 17, 2013, October 25, 2013, and June 24, 2013 $ 50,000 $ 1,090,000 ============ ============
The accompanying notes are an integral part of these financial statements. 16 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY - Snoogoo Corporation (formerly Casey Container Corp. and formerly Sawadee Ventures Inc.), a Nevada corporation, (hereinafter referred to as the "Company" or "Snoogoo Corp") was incorporated in the State of Nevada on September 26, 2006. The Company's year-end is December 31. The Company was originally formed in 2006 to engage in the acquisition, exploration and development of natural resource properties of merit. Effective January 6, 2010 Ms. Rachna Khanna tendered her resignation as the President, CEO, CFO and Director. Effective January 12, 2010, James Casey, Terry Neild and Robert Seaman were appointed as Directors of the Company. Mr. Casey was elected President, Mr. Terry Neild was elected Chief Executive Officer, Chief Financial Officer and Secretary and Mr. Seaman was elected Vice President-Operations. Effective January 12, 2010, the Company's Certificate of Incorporation was changed and the name of the Company was changed to Casey Container Corp. ("Casey"). Casey designs and will custom manufacture biodegradable PET and other polymer plastic preforms that become PET and other polymer plastic bottles and containers, for such product lines as bottled water, bottled beverages and other consumer products. Casey has a non-exclusive supply and license agreement with Bio-Tec Environmental, LLC. Casey currently is considered a "shell" company inasmuch as it is not in production and has no revenues, employees or material assets. Effective February 7, 2011, Martin R. Nason was elected President, Chief Executive Officer and Chief Financial Officer. Mr. Neild remained Chairman of the Board of Directors and Secretary, Mr. Casey as Vice President of Technical Services and Sales and Mr. Seaman as Vice President Manufacturing. On January 31, 2014, Mr. Seaman resigned and Mr. Nason was elected as a Director. On January 9, 2015 the Board Of Directors approved a Letter Of Understanding and Term Sheet to purchase the assets, including, but not limited to patents, intellectual property rights, logos and commercial symbols relating to an Information Network technology software. On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively, resigned as Members of the Board Of Directors, which was approved by the remaining Board Members on January 20, 2015. Mr. Nason remained as its Chief Executive Officer, President and Chief Financial Officer. On February 9, 2015, the Board of Directors of the Company resolved and approved to change the Company's name to SnooGoo Corp. and to increase the authorized Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par value and on February 10, 2015, a Certificate of Amendment was accordingly filed with the State of Nevada and the Company received a Nevada State Business License for SnooGoo Corp. on February 11, 2015. On February 11, the Company signed an Asset Purchase Agreement relative to the Letter Of Understanding and Term Sheet per January 9, 2015 above, taking the Company in a completely new business direction. The Company no longer will no pursue its previous business venture in the biodegradable plastic industry. The Company filed for trademark registration of the Snoogoo name and logo as identifying marks of the Snoogoo Software products and Apps, including all applications (see Note 13, "Subsequent Events"). 17 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) BASIS OF PRESENTATION - In the opinion of management, the accompanying balance sheets and related statements of operations, cash flows and stockholders' equity include all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Actual results and outcomes may differ from managements' estimates and assumptions. CASH AND CASH EQUIVALENTS - The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. INCOME TAXES - The Company accounts for its income taxes by recognizing deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company has net operating loss carryovers of $4,537,713 and $4,257,005 for the years ended December 31, 2014 and 2013 respectively, to be used to reduce future year's taxable income. The Company has recorded a valuation allowance for the full potential tax benefit of the operating loss carryovers due to the uncertainty regarding realization. December 31, December 31, 2014 2013 ------------ ------------ Net operating loss carryovers $ 4,537,713 $ 4,257,005 ============ ============ Effective tax deferred asset (30% tax rate) $ 1,361,314 $ 1,277,101 Impairment of tax deferred asset $ (1,361,314) $ (1,277,101) ------------ ------------ Net tax deferred asset $ 0 $ 0 ============ ============ NET LOSS PER COMMON SHARE - Basic net loss per share is computed by dividing the net loss available to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. The calculation of diluted net loss per share gives effect to common stock equivalents; however, potential common shares are excluded if their effect is anti-dilutive. For the period from September 26, 2006 (Date of Inception) through December 31, 2014, the Company had no potentially dilutive securities. The basic and diluted net loss per share was $(0.00) and $(0.01) for the years ended December 31, 2014 and 2013, respectively. For the years ended December 31, 2014 and 2013 the Net Loss was $(280,708) and $(601,002), respectively. For the years ended December 31, 2014 and 2013, the Weighted Average Number of Common shares used in per share calculations was 94,448,130 and 76,512,135 respectively. 18 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) STOCK-BASED COMPENSATION - The Company has not adopted a stock option plan. In the years ended December 31, 2014 and 2013, the Company issued none and 600,000 Restricted Common shares with a value of none and $60,000 respectively, which represented the closing price of the Company's Common shares on the date of each issuance. REVENUE RECOGNITION - The Company recognizes revenue when the following four revenue recognition criteria are met (1) persuasive evidence of an arrangement that exists; (2) delivery has occurred or services have been provided; (3) the selling price is fixed or determinable and (4) collectability is reasonably assured. LONG-LIVED ASSETS - The carrying value of intangible assets and other long-lived assets is reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value. FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management, as of December 31, 2014 and 2013. These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Level 1: The preferred inputs to valuation efforts are "quoted prices in active markets for identical assets or liabilities," with the caveat that the reporting entity mush have access to that market. Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actual trade in active markets. Level 2: The Financial Accounting Standards Board ("FASB") acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, FASB provided a second level of inputs that can be applied in three situations. Level 3: If inputs from Levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. FASB describes Level 3 inputs as "unobservable," and limits their use by saying they "shall be used to measure fair value to the extent that observable inputs are not available." This category allows "for situations in which there is little, if any, market activity for the asset or liability at the measurement date." Earlier in the standard, FASB explains that "observable inputs" are gathered from sources other than the reporting company and that they are expected to reflect assumptions made my market participants. RECENT ACCOUNTING PRONOUNCEMENTS - FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, DEVELOPMENT STAGE ENTITIES (TOPIC 915) - ELIMINATION OF CERTAIN FINANCIAL REPORTING REQUIREMENTS, INCLUDING AN AMENDMENT TO VARIABLE INTEREST ENTITIES GUIDANCE IN TOPIC 810, CONSOLIDATION, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. 19 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 2. GOING CONCERN The Company incurred net losses of $4,537,713 for the period from September 26, 2006 (Date of Inception) through December 31, 2014 and has commenced limited operations, raising substantial doubt about the Company's ability to continue as a going concern. The Company plans to continue to sell its restricted Common shares for cash and services and borrow from its directors, officers, related and non-related parties, reduce its cash expenses and continue to raise sufficient equity capital for cash, but there can be no assurance the Company will be successful in raising the equity capital for cash. The ability of the Company to continue as a going concern is dependent on receiving sufficient sources of cash equity capital and the success of the Company's plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. 3. PROPERTY AND EQUIPMENT As of December 31, 2014 and 2013, respectively, the Company does not own any property and/or equipment. 4. INTANGIBLES The Company's accounting policy for Long-Lived Assets requires it to review on a regular basis for facts or circumstances that may suggest impairment. The Company recorded an asset Contract Rights for $18,379 as disclosed in Note 5 Stockholders' Equity at December 31, 2010. The Product Purchase Agreement ("PPA") is between the Company and Taste of Aruba (U.S.), Inc., a related party (see Note 5 "Stockholders' Equity" and Note 6 "Related Party Transactions"). The PPA does not provide a performance guaranty to purchase the Company's products. If there isn't substantial performance the Company's option would be to seek damages in a lawsuit, but there is no guaranty damages would be awarded or that any awarded damages would be collected. The Company determined the Contract Rights are impaired and expensed the full amount of $18,379 in 2010. 5. STOCKHOLDERS' EQUITY At December 31, 2014 and 2013, the Company has 10,000,000 Preferred shares authorized with a par value of $0.001 per share and 250,000,000 Common shares authorized with a par value of $0.001 per share. At December 31, 2014 and 2013, the Company had 94,771,701 and 92,700,034 Common shares issued and outstanding, respectively. On January 15, 2013, the Company entered into a Rescission Agreement regarding the August 30, 2012 and December 12, 2012 issuances of 300,000 restricted Common shares and 150,000 restricted Common shares, respectively, due to the Company's inability to utilize the Consultant's services as expected during the terms of each of the two consulting and investor relations service agreements. The Company reversed the $72,000 and $33,000 originally recorded in the quarters ending September 30, 2012 and December 31, 2012, respectively. On February 13, 2013, the Company signed a Consulting Agreement with the same group and issued a total of 450,000 restricted Common shares at $0.15 per share, the closing price of the Company's Common shares on the OTC.BB. The Company expensed $67,500 in the quarter ending March 31, 2013. On April 17, 2013, the Company signed two Agreements To Serve On Board Of Directors with two new independent Board of Director members and issued a total of 600,000 restricted Common shares, 300,000 to each, at $0.10 per share, the closing price of the Company's common shares on the OTC.BB. The Company expensed $60,000 in the quarter ending June 30, 2013. 20 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 5. STOCKHOLDERS' EQUITY (continued) On May 20, 2013, the Company signed a Debt Settlement Agreement and issued 1,000,000 restricted Common shares in exchange for $50,000 in Accounts Payable due to a creditor, at $0.05 per share, a 28.6% discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB. On June 24, 2013, the Company signed three Debt Settlement Agreements and issued a total of 11, 033,333 restricted Common shares in exchange for a total of $662,000 in amounts Due To Related Parties and Non-Interest Bearing Loans From Related Parties, of which $92,000 was owed to its Chairman ($41,750 Due to Related Parties and $50,250 Non-Interest Bearing Loans From Related Parties), $510,000 was owed to its Chief Executive Officer and President ($510,000 Due To Related Parties) and $60,000 owed to its Vice President of Sales and Technical Services ($18,000 in Due To Related Parties and $42,000 in Non-Interest Bearing Loans From Related Parties). The debt settlement was at $0.06 per share, a 14.3% discount from the closing price of its freely-traded shares of $0.07 on the OTC.BB. On July 20, 2013, the Company sold 400,000 restricted Common shares to non-related parties at $0.05 per share for cash of $20,000, at a 28.6% discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB on July 19, 2013. On July 22, 2013, the Company issued 100,000 restricted Common shares at $0.08 per share, for a total of $8,000, for services from a non-related party consultant. The $8,000 was expensed in the quarter ending September 30, 2013. On August 27, 2013, the Company rescinded and canceled 300,000 restricted Common shares at $0.06 per share, for a total of $18,000, from its Vice President of Sales and Technical Services, who on June 24, 2013 (see above) signed a Debt Settlement Agreement for $60,000. On September 26, 2013, the Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for 300,000 restricted Common shares at $0.06 per share, for a total of $18,000, a 25% discount from the closing price of the Company's freely-traded Common shares of $0.08 on the OTC.BB. On October 1, 2013, the Company signed a Consulting Agreement with a non-related party to provide investor relations services, providing for the issuance of 200,000 restricted Common shares at $0.08 per share, for a total of $16,000, the closing price of the Company's freely-traded Common shares on the OTC.BB and expensed in the quarter. On October 25, 2013, the Company signed Debt Settlement Agreements with its Chairman and Chief Executive Officer and President for 1,300,000 and 2,500,000 restricted Common shares at $0.06 per share, respectively, for a total of $78,000 and $150,000, respectively, a 33.3% discount from the closing price of the Company's freely-traded Common shares of $0.09 on the OTC.BB. On November 26, 2013, the Company signed a Debt Settlement Agreement with a non-related party consultant for 1,000,000 restricted Common shares at $0.03 per share, respectively, for a total of $30,000, a 40% discount from the closing price of the Company's freely-traded Common shares of $0.05 per share on the OTC.BB. On December 17, 2013, the Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for 5,000,000 restricted Common shares at $0.04 per share for a total of $200,000, a 33.3% discount from the closing price of the Company's freely-traded Common shares of $0.06 per share on the OTC.BB. 21 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 5. STOCKHOLDERS' EQUITY (continued) On January 31, 2014, the Company signed a Debt Settlement Agreement with Aruba Capital Partners Limited, a company owned by its Chairman, whereby 1,250,000 Restricted Common shares at $0.04 per share were issued in exchange for $50,000 of unpaid expenses incurred on behalf of the Company and a non-interest bearing loan made to the Company, which represents a 33.3% discount to the closing price of the Company's freely-traded shares on the OTC.BB (see Note 6 "Related Party Transactions:). On April 3, 2014, the Company sold 250,00 Restricted Common shares at $0.04 per share for cash to a non-related party who's also a vendor (see April 4, 2014 transaction below), which represents a 33.3% discount to the closing price of $0.06 per share of the Company's freely-traded shares on the OTC.BB. On April 4, 2014, the Company signed a Debt Settlement Agreement with a non-related vendor, whereby the Company issued 505,000 Restricted Common shares at $0.04 per share in exchange for $20,200 of accounts payable owed to the vendor, which represents a 33.3% discount to the closing price of $0.06 per share of the Company's freely-traded shares on the OTC.BB. On April 10, 2014, the Company sold 66,667 Restricted Common shares at $0.075 per share for cash to a non-related party, which represents a 25% discount to the closing price of $0.10 per share of the Company's freely-traded shares on the OTC.BB. 6. RELATED PARTY TRANSACTIONS As of December 31, 2014 and 2013, $599,287 and $425,379 respectively is due to Company officers for unpaid expenses and fees. On January 28, 2011, a related party loaned the Company $20,000 in a non-interest bearing note (see "Note 9 "Non-Interest Bearing Loans"). On February 3, 2012, a related party made a non-interest bearing loan of $7,000, of which $5,000 was repaid on May 23, 2012. See October 1, 2013 transaction below. On May 21 and 30, 2012, the Chairman of the Board loaned the Company $12,000 and $38,250, respectively, in a non-interest bearing loan. On April 18 and May 17, 2012, a Vice President loaned the Company $38,000 and $4,000, respectively, in a non-interest bearing loan (see Note 9, "Non-Interest Bearing Loans"). On March 5, 2013, the Company borrowed $4,850 in a non-interest bearing loan from a firm controlled by the Chairman of the Board. On June 24, 2013, the Chairman, Chief Executive Officer and President and the Vice President Sales and Technical Services signed Debt Settlements Agreements, converting $92,000, $510,000 and $60,000 (reduced by $18,000 on August 27, 2013), respectively, of unpaid expenses, fees and loans into 1,533,333, 8,500,000 and 1,000,000, respectively of restricted Common Shares (see Note 5 "Stockholders' Equity") at $0.06 per share. On June 24, 2013, the closing price of the Company's freely-traded shares on the OTC.BB was $0.07 per share, representing a 14.3% discount. A Form 8-K was filed by the Company on July 1, 2013. The amounts outstanding to Related Parties at December 31, 2014 and 2013 are unsecured. 22 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 6. RELATED PARTY TRANSACTIONS (continued) On October 1, 2013, a previously classified Related Party whom the Company owes $22,000 in a non-interest bearing loan is no longer deemed a Related Party (see Note 9 "Non-Interest Bearing Loans"), since the party ceased to be involved in any and all of the Company's business affairs. On January 31, 2014, the Chairman signed a Debt Settlement Agreement, converting $50,000, respectively of unpaid expenses and loans into 1,250,000 Restricted Common shares (see Note 5 Stockholders' Equity") at $0.04 per share, representing a 33.3% discount to the closing price of the freely-traded shares on the OTC.BB. On November 17, 2014, the Chairman assumed an interest-bearing loan of $28,647.08 from a Non-Related Party. The amounts of all expenses paid on behalf of the Company by Officers/Directors and non-interest bearing loans outstanding at December 31, 2014 and December 31, 2013, respectively, are to Related Parties and are all unsecured. December 31, December 31, 2014 2013 -------- -------- Unpaid expenses and fees to Officers/Directors $599,287 $425,379 -------- -------- Non-interest and interest bearing loans to Related Parties: Chairman Of Board and Officer $ 33,800 $ 4,850 ======== ======== 7. STOCK OPTIONS At December 31, 2014 and 2013, the Company does not have any stock options outstanding, nor does it have any written or verbal agreements for the issuance or distribution of stock options at any point in the future. 8. ADVERTISING The Company expenses its advertising, which includes investor relations services, as General and Administrative expenses, as incurred. The Company incurred $ 6,425 and $21,000 as of December 31, 2014 and 2013, respectively. 9. NON-INTEREST BEARING LOANS On January 28, 2011 and February 3, 2012, Auspice Capital, a former related party loaned the Company $27,000 in non-interest bearing loans of which $22,000 are outstanding as of December 31, 2014 and 2013. On April 18 and May 17, 2012, a Vice President loaned the Company $38,000 and $4,000, respectively, in a non-interest bearing loan (see Note 6 "Related Party Transactions"). On June 24, 2013, the Vice President converted the $42,000 in Non-Interest Bearing Loans into restricted Common Shares of the Company (see Note 5 "Stockholders' Equity" and Note 6 "Related Party Transactions"). On May 21 and 30, 2012 and March 5, 2013, the Chairman of the Board loaned the Company $12,000, $38,250 and $4,850 respectively, in a non-interest bearing loans (see Note 6 "Related Party Transactions"). On June 24, 2013, the 23 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 9. NON-INTEREST BEARING LOANS (continued) Chairman converted the $50,250 in non-interest bearing loans in restricted Common Shares of the Company (see Note 5 "Stockholders' Equity" and Note 6 "Related Party Transactions"). The amounts of all non-interest bearing loans outstanding at December 31, 2014 and December 31, 2013, respectively are unsecured (see Note 6, "Related Party Transactions") follows: December 31, December 31, 2014 2013 -------- -------- Non-interest bearing to Loans: Non-Officer/Director $ 22,000 $ 22,000 Chairman Of Board and Officer 4,850 4,850 -------- -------- Total $ 26,850 $ 26,850 ======== ======== 10. INTEREST BEARING LOANS On August 12 and 19, 2011, a nonrelated party loaned the Company $15,000, in an interest bearing Promissory Note at 8% per annum and a one-time financing fee of $9,900. The loan, one-time financing fee and unpaid accrued interest is due upon the Company's receipt of equity capital from an investor group. The full amounts are unsecured and not in default. On August 27, 2012, the Company borrowed $40,000 in a ninety-day non-interest bearing Promissory Note and a one-time financing fee of $10,000, which was expensed, from a non-related party. The loans, one-time financing fees and accrued interest is due upon the Company's receipt of equity capital from an investor group. The loan is unsecured and has a maturity date of December 31, 2013. The Company has not raised equity capital from any investor group. On November 17, 2014, the a company controlled by the Chairman assumed an interest-bearing loan, with principal and cumulative accrued interest totaling $28,647.08 from a Non-Related Party (see Note 6 "Related Party Transactions). The amounts of all interest bearing loans outstanding at December 31, 2014 and 2013, respectively, are not in default, are not secured and accrued interest has been recorded in the respective years, follows: December 31, December 31, 2014 2013 -------- -------- Interest bearing to Related and Non-Related Parties: Related Party - principal $ 24,900 $ 24,900 cumulative interest accrued 4,049 2,849 Non-Related Party - principal 50,000 50,000 cumulative interest accrued 4,932 -- -------- -------- Total $ 83,881 $ 77,749 ======== ======== 24 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 11. ARUBA BRANDS CORP. STOCK PURCHASE AGREEMENT On September 18, 2013, the Company entered into a Stock Purchase Agreement ("Agreement") with Aruba Brands Corp ("Aruba"), whereby Aruba would acquire for $1.5 million, 19.9% in Restricted Common shares, based upon the total of the Company's issued and outstanding shares upon completion of the funding of this Agreement. The Company filed a Form 8-K with the SEC on September 24, 2013. The funding has not occurred as of December 31, 2014. 12. STOCK PURCHASE AGREEMENT On April 3, 2014, the Company approved and signed a Stock Purchase Agreement dated March 24, 2014 with an investor group for a total amount of $10 million. For $5 million of the total, the investor will receive Restricted Common shares equal to forty percent (40%) of the total number of Common shares issued and outstanding on the date of funding and the investor would loan the Company $5 million at 6%, to be paid over a period of years, with a payment grace period of interest and principal until January 1, 2016. The Company filed a Form 8-K with the SEC on April 14, 2014. No funding has been received as of December 31, 2014 and the Company deems the transaction terminated. 13. SUBSEQUENT EVENTS On January 6, 2015, the Company entered into three (3) Debt Settlement Agreements to exchange a total of 26 million Restricted Common shares, at $0.01 per share, for debt owed to the Creditors totally $260,000, which was approved at the January 9, 2015 Board Of Directors Meeting. The Chairman exchanged $200,000 of debt for twenty (20) million Restricted Common shares, an independent Director exchanged $10,000 of debt for one (1) million Restricted Common shares and a creditor of the Company exchanged $50,000 of debt for five (5) million Restricted Common Shares. Also at its January 9, 2015 Board Of Directors Meeting, the Board approved a Letter Of Understanding and Term Sheet to purchase the assets, including but not limited to patents, intellectual property rights, logos and commercial symbols relating to the Information Network technology software. On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively resigned as Members of the Board Of Directors, which was approved by the remaining Board Members on January 20, 2015. Mr. Nason will remain as its Chief Executive Officer, President and Chief Financial Officer. On January 27, 2015, the Company entered into a Debt Settlement Agreement to exchange six million five hundred thousand (6,500,000) Restricted Common shares, at $0.03 per share, for $195,000 of debt owed to a company controlled by its Chief Executive Officer, President and Chief Financial Officer, which was approved at the January 28, 2015 Board Of Directors Meeting. On February 4, 2015, the Company sold for cash 1,000,000 Restricted Common shares to a non-related party at $0.025 per share for $25,000. On February 5, 2015, the Company filed a Form 8-K with the Securities and Exchange Commission regarding the above events. 25 SNOOGOO CORP. (formerly Casey Container Corp.) NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2014 and 2013 13. SUBSEQUENT EVENTS (continued) On February 9, 2015, the Board of Directors of the Company resolved and approved to change the Company's name to SnooGoo Corp. and to increase the authorized Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par value, which was approved by over fifty-one percent (51%) of the issued and outstanding Common Shares. On February 10, 2015, a Certificate of Amendment was accordingly filed with the State of Nevada and the Company received a Nevada State Business License for SnooGoo Corp. on February 11, 2015. On February 11, 2015, the Company filed a Form 8-K with the Securities and Exchange Commission regarding the signing of the Asset Purchase Agreement, as per January 9, 2015 above, along with a Debt Settlement Agreement to exchange six million six hundred and sixty eight thousand (6,668,000) Restricted Common shares, at $0.03 per share, for $200,040 of debt owed to a company controlled by its Chief Executive Officer, President and Chief Financial Officer, which was approved at the February 16, 2015 Board Of Directors Meeting. On February 16, 2015, the Board of Directors of the Company resolved and approved the Debt Settlement Agreement dated February 11, 2015, as per the previous paragraph and approved Consulting Agreements with Kenny Consulting, LLC dated February 3, 2015 for 4,000,000 Restricted Common shares at $0.03 per share, Robert Egeland dated February 3, 2015 for 7,500,000 Restricted Common shares at $0.03 per share, Michael Schifsky dated February 10, 2015 for 4,000,000 Restricted Common shares at $0.03 per share and Nishil Patel dated February 10, 2015 for 500,000 Restricted Common shares at $0,03 per share. On February 17, 2015, the Board of Directors of the Company resolved and approved an Amendment to each Agreement to Serve on the Board of Directors with the two independent Directors, Richard Truelick and Scott Campbell, for 2,000,000 Restricted Common shares at $0.03 per share to each independent Director. On February 23, 2015, the Board of Directors of the Company accepted the resignation of Martin R. Nason as Company Treasurer and the appointment of Michael Schifsky as Company Treasurer. On February 23, 2015, the Company received approval from the Financial Industry Regulatory Authority ("FINRA"), that it approved the name change from Casey Container Corp. to Snoogoo Corp. and assigned the trading symbol "SGOO," effective the beginning of trading on February 24, 2015. 26 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON FINANCIAL DISCLOSURE None. ITEM 9A. CONTROLS AND PROCEDURES EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES Under the supervision and with the participation of our management, including our principal executive officer and the principal financial officer (our President), we have conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were not effective and that such material information required to be included in our Securities and Exchange Commission reports is accumulated and communicated to our management, including our principal executive and financial officer, recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms relating to our company, particularly during the period when this report was being prepared. MANAGEMENT'S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING Under the supervision and with the participation of our management, including our principal executive officer and the principal financial officer (our President), we have conducted an evaluation of the effectiveness of the design and operation of our financial reporting, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were not effective and that such material information required to be included in our Securities and Exchange Commission reports is accumulated and communicated to our management, including our principal executive and financial officer, recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms relating to our company, particularly during the period when this report was being prepared. Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act, for the company. Internal control over financial reporting includes those policies and procedures that: (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of its management and directors; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements. Management recognizes that there are inherent limitations in the effectiveness of any system of internal control, and accordingly, even effective internal control can provide only reasonable assurance with respect to financial statement preparation and may not prevent or detect material misstatements. In addition, effective internal control at a point in time may become ineffective in future periods because of changes in conditions or due to deterioration in the degree of compliance with our established policies and procedures. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in there being a more than remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected. Management assessed the effectiveness of the Company's internal control over financial reporting and has identified the following material weaknesses: INSUFFICIENT RESOURCES: We have an inadequate number of personnel with requisite expertise in various key functional areas needed for the development of the Company. 27 INADEQUATE SEGREGATION OF DUTIES: We have an inadequate number of personnel to properly implement control procedures. AUDIT COMMITTEE & OUTSIDE DIRECTORS ON THE COMPANY'S BOARD OF DIRECTORS: We have a functioning audit committee of outside directors on our board of directors, resulting in effective oversight in the establishment and monitoring of required internal controls and procedures. Management is committed to improving its internal controls and will (1) continue to use third party specialists to address shortfalls in staffing and to assist the Company with accounting and finance responsibilities, (2) increase the frequency of independent reconciliations of significant accounts which will mitigate the lack of segregation of duties until there are sufficient personnel and (3) may consider appointing outside directors and audit committee members in the future. CHANGES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING There have been no changes in our internal control over financial reporting that occurred during the last fiscal quarter for our fiscal year ended December 31, 2014 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. ITEM 9B. OTHER INFORMATION None PART III ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS The directors and officers of Snoogoo Corp., whose one year term will expire 01/12/16 or at such a time as their successor(s) shall be elected and qualified are as follows: Name Age Position Date First Elected Term Expires ---- --- -------- ------------------ ------------ Terry W Neild 74 Chairman 1/12/10 (Appointed) 01/12/16 & Secretary Martin Nason 70 President 1/31/14 (Appointed) 01/12/16 CEO, CFO Richard Truelick 74 Director 4/17/13 (Appointed) 01/12/16 Dr. Scott Campbell 55 Director 4/17/13 (Appointed) 01/12/16 Directors are elected to serve until the next annual meeting of stockholders and until their successor has been elected and qualified. Officers are appointed to serve until the meeting of the board of directors following the next annual meeting of stockholders and until their successors have been elected and qualified. No executive officer or director of the corporation has been the subject of any order, judgment, or decree of any court of competent jurisdiction, or any regulatory agency permanently or temporarily enjoining, barring, suspending or otherwise limiting him or her from acting as an investment advisor, underwriter, broker or dealer in the securities industry, or as an affiliated person, director or employee of an investment company, bank, savings and loan association, or insurance company or from engaging in or continuing any conduct or practice in connection with any such activity or in connection with the purchase or sale of any securities. No executive officer or director of the corporation has been convicted in any criminal proceeding (excluding traffic violations) or is the subject of a criminal proceeding which is currently pending. 28 RESUMES EXECUTIVE OFFICERS AND DIRECTORS Mr. James Casey, Mr. Terry Neild and Mr. Robert Seaman were appointed as Directors of the Company in 2010. Mr. Casey filled the position of President, Mr. Terry Neild, Chief Executive Officer, Chief Financial Officer and Secretary and Mr. Seaman is the Vice- President-Operations. Subsequent to December 31, 2010 both Mr. Neild and Mr. Casey resigned from their positions and Martin R Nason was appointed Chief Executive Officer, Chief Financial Officer, and President. Mr. Neild remains Chairman of the Board and Mr. Casey was appointed Executive Vice-President of Technical Services and remains a director. On April 17th, 2013 the Board of Directors appointed Mr. Richard Truelick and Dr. Scott Campbell to the Board of Directors. On January 31, 2014 Mr. Seaman stepped down as a Director and was replaced by Mr. Nason. Mr. Seaman remains Vice- President-Operations. On January 20, 2015, the Board of Directors accepted the resignations of James T. Casey and Martin R. Nason from their seats on the Board of Directors. Mr. Casey also resigned as Executive Vice-President of Technical Services. Martin R. Nason remained the Company's President CEO and CFO. Mr. Martin Nason, age 70, has over 35 years experience as a Chief Financial Officer, Chief Operating Officer, and Chief Executive Officer with financial, operating, strategic, planning, manufacturing, marketing, and distribution experience, mostly with high growth domestic and international private and publically-owned companies. Mr. Nason was founder and former Director of a California Regional Bank and was Senior Executive Vice-President and Chief Operating Officer of Vidal Sassoon, Inc., a $165 million international hair care and cosmetics company sold in 1983 to Richardson-Vicks, Inc., now a division of Proctor and Gamble. He was Chief Financial Officer of WCT Communications, a switch-based long distance company which grew to $150 million in sales and was sold to Frontier Corp. (formerly Rochester Telephone) in 1995. Mr. Nason has taken several companies public and consulted for a variety of consumer products companies. Mr. Terry Neild, age 74, was previously President and CEO of Clearly Canadian Beverage Corporation and Jolt Beverages Corporation, both successful retail specialty beverage and bottled water companies. Throughout his 35-year career as a business leader and innovator, Mr. Neild has built a depth of proven entrepreneurial skills in a variety of industries. He has guided the development of several start-up companies; bringing them to a substantial success. Mr. Neild, who is a Certified Management Accountant, has held senior financial positions in Fortune 500 companies. Mr. Truelick, age 74, is a certified CPA who is the President and founder of Truelick Associates, an Independent Merger Intermediary and Investor. Mr. Truelick's experience includes performing financial analysis, research, and transaction negotiations with an emphasis on mergers and acquisitions. Over the past forty years Mr. Truelick has consummated over a hundred transactions involving mergers, acquisitions, and related business agreements. Dr. Campbell, age 55, is the President & founder of Campbell and Company Financial Group, Inc. ("CCFG") a full-service accounting firm with its primary focus on the hospitality industry. Over the past 25 years CCFG Inc. has developed proprietary financial models specifically designed for the restaurant/bar industry. In addition to private accounting CCFG Inc. prepares filings for many public companies and serves as an Officer and Director of some. 29 ITEM 11. EXECUTIVE COMPENSATION
SUMMARY COMPENSATION TABLE Change in Pension Value and Non-Equity Nonqualified Incentive Deferred All Name and Plan Compen- Other Principal Stock Option Compen- sation Compen- Position Year Salary Bonus Awards Awards sation Earnings sation Totals ------------ ---- ------ ----- ------ ------ ------ -------- ------ ------ Terry Neild 2014 0 0 0 0 0 0 0 0 Martin Nason 2014 0 0 0 0 0 0 0 0 James Casey 2014 0 0 0 0 0 0 0 0 Robert Seaman 2014 0 0 0 0 0 0 0 0 Robert Truelick 2014 0 0 0 0 0 0 0 0 Dr. Scott Campbell 2014 0 0 0 0 0 0 0 0 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END Option Awards Stock Awards ----------------------------------------------------------------- ------------------------------------------------- Equity Incentive Equity Plan Incentive Awards: Plan Market or Awards: Payout Equity Number of Value of Incentive Number Unearned Unearned Plan Awards; of Market Shares, Shares, Number of Number of Number of Shares Value of Units or Units or Securities Securities Securities or Units Shares or Other Other Underlying Underlying Underlying of Stock Units of Rights Rights Unexercised Unexercised Unexercised Option Option That Stock That That That Options (#) Options (#) Unearned Exercise Expiration Have Not Have Not Have Not Have Not Name Exercisable Unexercisable Options (#) Price Date Vested(#) Vested Vested Vested ---- ----------- ------------- ----------- ----- ---- --------- ------ ------ ------ Terry Neild 0 0 0 0 0 0 0 0 0 Martin Nason 0 0 0 0 0 0 0 0 0 James Casey 0 0 0 0 0 0 0 0 0 Robert Seaman 0 0 0 0 0 0 0 0 0 Richard Truelick 0 0 0 0 0 0 0 0 0 Dr. Scott Campbell 0 0 0 0 0 0 0 0 0
30
DIRECTOR COMPENSATION Change in Pension Value and Fees Non-Equity Nonqualified Earned Incentive Deferred Paid in Stock Option Plan Compensation All Other Name Cash Awards Awards Compensation Earnings Compensation Total ---- ---- ------ ------ ------------ -------- ------------ ----- Terry Neild 0 0 0 0 0 0 0 Martin Nason 0 0 0 0 0 0 0 James Casey 0 0 0 0 0 0 0 Robert Seaman 0 0 0 0 0 0 0 Richard Truelick 0 0 0 0 0 0 0 Dr. Scott Campbell 0 0 0 0 0 0 0
The current Board of Directors is comprised of Mr. Terry Neild, who was appointed on January 6, 2010, and Mr. Richard Truelick and Dr. Scott Campbell, who were appointed as Directors of the Company on April 17, 2013. Mr. Terry Neild is the Chairman of the Board of Directors. There are no annuity, pension or retirement benefits proposed to be paid to officers, directors or employees in the event of retirement at normal retirement date pursuant to any presently existing plan provided or contributed to by the company or any of its subsidiaries, if any. ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth information on the ownership of Snoogoos' voting securities by officers, directors and major shareholders as well as those who own beneficially more than five percent of our common stock as of the date of this report: Name and Address No. of Percentage of Beneficial Owner (1) Shares of Ownership ----------------------- ------ ------------ Terry W Neild - Director 28,273,379 18% 7165 E Balford Road Paradise Valley, AZ 85253 Martin R Nason - Officer 21,218,000 14% 7825 N Calle Caballeros Paradise Valley, AZ 85253 Richard Truelick 2,315,000 1.5% 12461 North 138th Place Scottsdale, AZ 85259 Dr. Scott Campbell 2,550,000 1.5% 7702 East Doubletree Ranch Rd #300 Scottsdale, AZ 85258 Robert Egeland 11,150,000 7% 165 S Kenmore Ave. Elmhurst, IL 60126 ---------- (1) The persons named above may be deemed to be a "parent" and "promoter" of the Company, within the meaning of such terms under the Securities Act of 1933, as amended, by virtue of their direct holdings in the Company. 31 Name and Address of Beneficial Owner (1) of more that 5% of our No. of Percentage Common Stock Shares of Ownership ------------ ------ ------------ Terry W Neild 28,273,379 18% 7165 E Balford Road Paradise Valley, AZ 85253 Robert Egeland 11,150,000 7% 165 S Kenmore Ave. Elmhurst, IL 60126 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS The principal executive office and telephone number are provided by Mr. Terry Neild, Chairman of the corporation, on a rent-free basis. Mr. Neild will also not receive any interest on any funds that he may advance to us for operating expenses. Terry W. Neild, Chairman of the Board of Directors, made several non-interest bearing cash loans totaling $103,400 and for expenses incurred of $76,000 to the Company during the year 2010. On December 30, 2010, Mr. Neild exchanged these non-interest bearing cash loans and outstanding expenses incurred on behalf of the Company for 717,600 Restricted Common shares, at $0.25 per share, the closing price of the Company's Common shares on the date of conversion. On May 21 and 30, 2012, Mr. Neild loaned the Company $12,000 and $38,250, respectively, in a non-interest bearing loans. On June 24th, 2013 Mr. Neild converted $90,020 owed to him into 1,500,333 shares of the Company's restricted common stock. On October 25th, 2013 Mr. Neild converted $78,000 owed to him into 1,300,000 shares of the Company's restricted common stock. On January 6, 2015, Mr. Neild entered into a Debt Settlement Agreement to exchange $200,000 of debt owned to him by the Company for twenty 20 million Restricted Common shares. Martin R Nason, President and Chief Executive Officer, made several non-interest bearing cash loans totaling $8,100. On February 10, 2012, Mr. Nason loaned $7,000 in a non-interest bearing loan, which was repaid on February 13, 2012. On February 22, 2012, Mr. Nason loaned $1,100 in a non-interest bearing loan, which was repaid on April 25 and May 17, 2012. On June 24th, 2013 Mr. Nason converted $510,000 owed to him into 8,500,000 shares of the Company's restricted common stock. On September 26th, 2013 Mr. Nason converted $18,000 owed to him into 300,000 shares of the Company's restricted common stock. On October 25th, 2013 Mr. Nason converted $200,000 owed to him into 5,000,000 shares of the Company's restricted common stock. On December 17th, 2013 Mr. Nason converted $150,000 owed to him into 2,500,000 shares of the Company's restricted common stock. These conversions were for expenses paid and by Mr. Nason on behalf of the Company over a period from 2010 thru 2013. On January 27, 2015 Mr. Nason entered into a Debt Settlement Agreement to exchange $195,000 of debt owed to him by the Company for 6,500,000 Restricted Common shares. James T Casey, Executive Vice-President of Technical Services, made several non-interest bearing cash loans totaling $42,000. On April 18 and May 17, 2012, Mr. Casey loaned the Company $38,000 and $4,000, respectively, in a non-interest bearing loan. On April 11, 2012, Mr. Casey received 250,000 shares of Restricted Common shares were issued to a Vice President, at $0.18 per share (the closing price of the Common shares on April 11, 2012), in exchange for amounts owed to the Vice President. On June 24th, 2013 Mr. Casey converted $42,000 owed to him in exchange for 700,000 shares of the Company's restricted common stock. This entire section needs to be updated for probably 2015 since the figures are from 2013 and don't include all the debt settlements in 2015. 32 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES The total fees charged to the company for audit services were $4,750 for audit-related services during the year ending December 31, 2014. The total fees charged to the company for audit services were $4,750 for audit-related services during the year ended December 31, 2013. PART IV ITEM 15. EXHIBITS
Exhibit Description Method of Filing ------- ----------- ---------------- 3.1 Articles of Incorporation Incorporated by reference to Exhibit 3.1 to the Company's Registration Statement on Form SB-2 filed with the SEC on February 5, 2007. 3.2 Bylaws Incorporated by reference to Exhibit 3.1 to the Company's Registration Statement on Form SB-2 filed with the SEC on February 5, 2007. 31.1 Certification of Chief Executive Filed electronically Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of Chief Financial Filed electronically Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification of Chief Executive Filed electronically Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 32.2 Certification of Chief Financial Filed electronically Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 101 Interactive Data Piles pursuant to Rule Filed electronically 405 of Regulation S-T.
33 SIGNATURES In accordance with the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe it meets all of the requirements for filing Form 10-K and authorized this report to be signed on its behalf by the undersigned, in the city of Paradise Valley, AZ, on March 30, 2015. Snoogoo, Corp. /s/ Martin R Nason ----------------------------------------- Martin R Nason, Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer 34
EX-31.1 2 ex31-1.txt Exhibit 31.1 CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 CERTIFICATION OF CHIEF EXECUTIVE OFFICER I, Martin R Nason, certify that: 1. I have reviewed this annual report on Form 10-K of Snoogoo, 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 officer 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 control 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 our 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 the 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 officer 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 the 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 controls 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 control over financial reporting. Date: March 30, 2015 /s/ Martin R Nason ------------------------------------ Martin R Nason Chief Executive Officer EX-31.2 3 ex31-2.txt Exhibit 31.2 CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 CERTIFICATION OF CHIEF FINANCIAL OFFICER I, Martin R Nason, certify that: 1. I have reviewed this annual report on Form 10-K of Snoogoo, 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 officer 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 control 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 our 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 the 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 officer 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 the 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 controls 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 control over financial reporting. Date: March 30, 2015 /s/ Martin R Nason --------------------------------- Martin R Nason Chief Financial Officer EX-32.1 4 ex32-1.txt Exhibit 32.1 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. 1350 (SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002) In connection with the Annual Report of Snoogoo, Corp. (the "Company") on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Martin R Nason, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to ss.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 results of operations of the Company. /s/ Martin R Nason ------------------------------------ Martin R Nason Chief Executive Officer March 30, 2015 This certification accompanies this Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that the Company specifically incorporates it by reference. A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. EX-32.2 5 ex32-2.txt Exhibit 32.2 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO 18 U.S.C. 1350 (SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002) In connection with the Annual Report of Snoogoo, Corp. (the "Company") on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Martin R Nason, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to ss.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 results of operations of the Company. /s/ Martin R Nason ---------------------------------- Martin R Nason Chief Financial Officer March 30, 2015 This certification accompanies this Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that the Company specifically incorporates it by reference. A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. EX-101.INS 6 sgoo-20141231.xml 85 74 85 74 85 74 172624 157145 33800 4850 76931 99749 599287 425379 882642 687123 0 0 94772 92700 3560384 3477256 -4537713 -4257005 -882557 -687049 85 74 0.001 0.001 10000000 10000000 0.001 0.001 250000000 250000000 94771701 92700034 94771701 92700034 -280708 -601002 237580 510625 0 60000 0 91500 20200 80000 50000 0 0 -105000 6132 776 15479 53646 48683 90545 -63672 -118843 28950 4850 -28950 0 15000 20000 -48672 -93993 11 -3448 74 3522 85 74 0 0 0 0 50000 1090000 1250000 5000000 3800000 11033333 <!--egx--><pre>1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING</pre><pre>POLICIES</pre><pre>DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY - Snoogoo Corporation</pre><pre>(formerly Casey Container Corp. and formerly Sawadee Ventures Inc.), a Nevada</pre><pre>corporation, (hereinafter referred to as the "Company" or "Snoogoo Corp") was</pre><pre>incorporated in the State of Nevada on September 26, 2006. The Company's</pre><pre>year-end is December 31. The Company was originally formed in 2006 to engage in</pre><pre>the acquisition, exploration and development of natural resource properties of</pre><pre>merit.</pre><pre>Effective January 6, 2010 Ms. Rachna Khanna tendered her resignation as the</pre><pre>President, CEO, CFO and Director. Effective January 12, 2010, James Casey, Terry</pre><pre>Neild and Robert Seaman were appointed as Directors of the Company. Mr. Casey</pre><pre>was elected President, Mr. Terry Neild was elected Chief Executive Officer,</pre><pre>Chief Financial Officer and Secretary and Mr. Seaman was elected Vice</pre><pre>President-Operations.</pre><pre>Effective January 12, 2010, the Company's Certificate of Incorporation was</pre><pre>changed and the name of the Company was changed to Casey Container Corp.</pre><pre>("Casey"). Casey designs and will custom manufacture biodegradable PET and other</pre><pre>polymer plastic preforms that become PET and other polymer plastic bottles and</pre><pre>containers, for such product lines as bottled water, bottled beverages and other</pre><pre>consumer products. Casey has a non-exclusive supply and license agreement with</pre><pre>Bio-Tec Environmental, LLC. Casey currently is considered a "shell" company</pre><pre>inasmuch as it is not in production and has no revenues, employees or material</pre><pre>assets.</pre><pre>Effective February 7, 2011, Martin R. Nason was elected President, Chief</pre><pre>Executive Officer and Chief Financial Officer. Mr. Neild remained Chairman of</pre><pre>the Board of Directors and Secretary, Mr. Casey as Vice President of Technical</pre><pre>Services and Sales and Mr. Seaman as Vice President Manufacturing. On January</pre><pre>31, 2014, Mr. Seaman resigned and Mr. Nason was elected as a Director.</pre><pre>On January 9, 2015 the Board Of Directors approved a Letter Of Understanding and</pre><pre>Term Sheet to purchase the assets, including, but not limited to patents,</pre><pre>intellectual property rights, logos and commercial symbols relating to an</pre><pre>Information Network technology software.</pre><pre>On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively,</pre><pre>resigned as Members of the Board Of Directors, which was approved by the</pre><pre>remaining Board Members on January 20, 2015. Mr. Nason remained as its Chief</pre><pre>Executive Officer, President and Chief Financial Officer.</pre><pre>On February 9, 2015, the Board of Directors of the Company resolved and approved</pre><pre>to change the Company's name to SnooGoo Corp. and to increase the authorized</pre><pre>Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par</pre><pre>value and on February 10, 2015, a Certificate of Amendment was accordingly filed</pre><pre>with the State of Nevada and the Company received a Nevada State Business</pre><pre>License for SnooGoo Corp. on February 11, 2015. On February 11, the Company</pre><pre>signed an Asset Purchase Agreement relative to the Letter Of Understanding and</pre><pre>Term Sheet per January 9, 2015 above, taking the Company in a completely new</pre><pre>business direction. The Company no longer will no pursue its previous business</pre><pre>venture in the biodegradable plastic industry. The Company filed for trademark</pre><pre>registration of the Snoogoo name and logo as identifying marks of the Snoogoo</pre><pre>Software products and Apps, including all applications (see Note 13, "Subsequent</pre><pre>Events").</pre><pre>BASIS OF PRESENTATION - In the opinion of management, the accompanying balance</pre><pre>sheets and related statements of operations, cash flows and stockholders' equity</pre><pre>include all adjustments, consisting only of normal recurring items, necessary</pre><pre>for their fair presentation in conformity with accounting principles generally</pre><pre>accepted in the United States of America ("U.S. GAAP"). Preparing financial</pre><pre>statements requires management to make estimates and assumptions that affect the</pre><pre>reported amounts of assets, liabilities and disclosure of contingent assets and</pre><pre>liabilities at the date of the financial statements and the reported amount of</pre><pre>revenue and expenses during the reporting period. Actual results and outcomes</pre><pre>may differ from managements' estimates and assumptions.</pre><pre>CASH AND CASH EQUIVALENTS - The Company considers all highly liquid investments</pre><pre>with maturity of three months or less to be cash equivalents.</pre><pre>INCOME TAXES - The Company accounts for its income taxes by recognizing deferred</pre><pre>tax assets and liabilities for future tax consequences attributable to</pre><pre>differences between the financial statement carrying amounts of existing assets</pre><pre>and liabilities and their respective tax basis and tax credit carry forwards.</pre><pre>Deferred tax assets and liabilities are measured using enacted tax rates</pre><pre>expected to apply to taxable income in the years in which those temporary</pre><pre>differences are expected to be recovered or settled. The effect on deferred tax</pre><pre>assets and liabilities of a change in tax rates is recognized in operations in</pre><pre>the period that includes the enactment date.</pre><pre>The Company has net operating loss carryovers of $4,537,713 and $4,257,005 for</pre><pre>the years ended December 31, 2014 and 2013 respectively, to be used to reduce</pre><pre>future year's taxable income. The Company has recorded a valuation allowance for</pre><pre>the full potential tax benefit of the operating loss carryovers due to the</pre><pre>uncertainty regarding realization.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------</pre><pre>Net operating loss carryovers&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,537,713&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,257,005</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============</pre><pre>Effective tax deferred asset (30% tax rate)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 1,361,314&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 1,277,101</pre><pre>Impairment of tax deferred asset&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ (1,361,314)&nbsp;&nbsp;&nbsp;&nbsp; $ (1,277,101)</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------</pre><pre>Net tax deferred asset&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============</pre><pre>NET LOSS PER COMMON SHARE - Basic net loss per share is computed by dividing the</pre><pre>net loss available to common stockholders for the period by the weighted average</pre><pre>number of shares of common stock outstanding during the period. The calculation</pre><pre>of diluted net loss per share gives effect to common stock equivalents; however,</pre><pre>potential common shares are excluded if their effect is anti-dilutive. For the</pre><pre>period from September 26, 2006 (Date of Inception) through December 31, 2014,</pre><pre>the Company had no potentially dilutive securities. The basic and diluted net</pre><pre>loss per share was $(0.00) and $(0.01) for the years ended December 31, 2014 and</pre><pre>2013, respectively. For the years ended December 31, 2014 and 2013 the Net Loss</pre><pre>was $(280,708) and $(601,002), respectively. For the years ended December 31,</pre><pre>2014 and 2013, the Weighted Average Number of Common shares used in per share</pre><pre>calculations was 94,448,130 and 76,512,135 respectively.</pre><pre>STOCK-BASED COMPENSATION - The Company has not adopted a stock option plan. In</pre><pre>the years ended December 31, 2014 and 2013, the Company issued none and 600,000</pre><pre>Restricted Common shares with a value of none and $60,000 respectively, which</pre><pre>represented the closing price of the Company's Common shares on the date of each</pre><pre>issuance.</pre><pre>REVENUE RECOGNITION - The Company recognizes revenue when the following four</pre><pre>revenue recognition criteria are met (1) persuasive evidence of an arrangement</pre><pre>that exists; (2) delivery has occurred or services have been provided; (3) the</pre><pre>selling price is fixed or determinable and (4) collectability is reasonably</pre><pre>assured.</pre><pre>LONG-LIVED ASSETS - The carrying value of intangible assets and other long-lived</pre><pre>assets is reviewed on a regular basis for the existence of facts or</pre><pre>circumstances that may suggest impairment. The Company recognizes impairment</pre><pre>when the sum of the expected undiscounted future cash flows is less than the</pre><pre>carrying amount of the asset. Impairment losses, if any, are measured as the</pre><pre>excess of the carrying amount of the asset over its estimated fair value.</pre><pre>FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair value estimates discussed herein are</pre><pre>based upon certain market assumptions and pertinent information available to</pre><pre>management, as of December 31, 2014 and 2013. These financial instruments</pre><pre>include cash, prepaid expenses and accounts payable. Fair values were assumed to</pre><pre>approximate carrying values for cash and payables because they are short term in</pre><pre>nature and their carrying amounts approximate fair values or they are payable on</pre><pre>demand.</pre><pre>Level 1: The preferred inputs to valuation efforts are "quoted prices in active</pre><pre>markets for identical assets or liabilities," with the caveat that the reporting</pre><pre>entity mush have access to that market. Information at this level is based on</pre><pre>direct observations of transactions involving the same assets and liabilities,</pre><pre>not assumptions, and thus offers superior reliability. However, relatively few</pre><pre>items, especially physical assets, actual trade in active markets.</pre><pre>Level 2: The Financial Accounting Standards Board ("FASB") acknowledged that</pre><pre>active markets for identical assets and liabilities are relatively uncommon and,</pre><pre>even when they do exist, they may be too thin to provide reliable information.</pre><pre>To deal with this shortage of direct data, FASB provided a second level of</pre><pre>inputs that can be applied in three situations.</pre><pre>Level 3: If inputs from Levels 1 and 2 are not available, FASB acknowledges that</pre><pre>fair value measures of many assets and liabilities are less precise. FASB</pre><pre>describes Level 3 inputs as "unobservable," and limits their use by saying they</pre><pre>"shall be used to measure fair value to the extent that observable inputs are</pre><pre>not available." This category allows "for situations in which there is little,</pre><pre>if any, market activity for the asset or liability at the measurement date."</pre><pre>Earlier in the standard, FASB explains that "observable inputs" are gathered</pre><pre>from sources other than the reporting company and that they are expected to</pre><pre>reflect assumptions made my market participants.</pre><pre>RECENT ACCOUNTING PRONOUNCEMENTS - FASB issues various Accounting Standards</pre><pre>Updates relating to the treatment and recording of certain accounting</pre><pre>transactions. On June 10, 2014, the Financial Accounting Standards Board issued</pre><pre>Accounting Standards Update (ASU) No. 2014-10, DEVELOPMENT STAGE ENTITIES (TOPIC</pre><pre>915) - ELIMINATION OF CERTAIN FINANCIAL REPORTING REQUIREMENTS, INCLUDING AN</pre><pre>AMENDMENT TO VARIABLE INTEREST ENTITIES GUIDANCE IN TOPIC 810, CONSOLIDATION,</pre><pre>which eliminates the concept of a development stage entity (DSE) entirely from</pre><pre>current accounting guidance. The Company has elected adoption of this standard,</pre><pre>which eliminates the designation of DSEs and the requirement to disclose results</pre><pre>of operations and cash flows since inception.</pre> <!--egx--><pre>2. GOING CONCERN</pre><pre>The Company incurred net losses of $4,537,713 for the period from September 26,</pre><pre>2006 (Date of Inception) through December 31, 2014 and has commenced limited</pre><pre>operations, raising substantial doubt about the Company's ability to continue as</pre><pre>a going concern. The Company plans to continue to sell its restricted Common</pre><pre>shares for cash and services and borrow from its directors, officers, related</pre><pre>and non-related parties, reduce its cash expenses and continue to raise</pre><pre>sufficient equity capital for cash, but there can be no assurance the Company</pre><pre>will be successful in raising the equity capital for cash. The ability of the</pre><pre>Company to continue as a going concern is dependent on receiving sufficient</pre><pre>sources of cash equity capital and the success of the Company's plan. The</pre><pre>financial statements do not include any adjustments that might be necessary if</pre><pre>the Company is unable to continue as a going concern.</pre> <!--egx--><pre>3. PROPERTY AND EQUIPMENT</pre><pre>As of December 31, 2014 and 2013, respectively, the Company does not own any</pre><pre>property and/or equipment.</pre> <!--egx--><pre>4. INTANGIBLES</pre><pre>The Company's accounting policy for Long-Lived Assets requires it to review on a</pre><pre>regular basis for facts or circumstances that may suggest impairment. The</pre><pre>Company recorded an asset Contract Rights for $18,379 as disclosed in Note 5</pre><pre>Stockholders' Equity at December 31, 2010. The Product Purchase Agreement</pre><pre>("PPA") is between the Company and Taste of Aruba (U.S.), Inc., a related party</pre><pre>(see Note 5 "Stockholders' Equity" and Note 6 "Related Party Transactions"). The</pre><pre>PPA does not provide a performance guaranty to purchase the Company's products.</pre><pre>If there isn't substantial performance the Company's option would be to seek</pre><pre>damages in a lawsuit, but there is no guaranty damages would be awarded or that</pre><pre>any awarded damages would be collected. The Company determined the Contract</pre><pre>Rights are impaired and expensed the full amount of $18,379 in 2010.</pre> <!--egx--><pre>5. STOCKHOLDERS' EQUITY</pre><pre>At December 31, 2014 and 2013, the Company has 10,000,000 Preferred shares</pre><pre>authorized with a par value of $0.001 per share and 250,000,000 Common shares</pre><pre>authorized with a par value of $0.001 per share. At December 31, 2014 and 2013,</pre><pre>the Company had 94,771,701 and 92,700,034 Common shares issued and outstanding,</pre><pre>respectively.</pre><pre>On January 15, 2013, the Company entered into a Rescission Agreement regarding</pre><pre>the August 30, 2012 and December 12, 2012 issuances of 300,000 restricted Common</pre><pre>shares and 150,000 restricted Common shares, respectively, due to the Company's</pre><pre>inability to utilize the Consultant's services as expected during the terms of</pre><pre>each of the two consulting and investor relations service agreements. The</pre><pre>Company reversed the $72,000 and $33,000 originally recorded in the quarters</pre><pre>ending September 30, 2012 and December 31, 2012, respectively.</pre><pre>On February 13, 2013, the Company signed a Consulting Agreement with the same</pre><pre>group and issued a total of 450,000 restricted Common shares at $0.15 per share,</pre><pre>the closing price of the Company's Common shares on the OTC.BB. The Company</pre><pre>expensed $67,500 in the quarter ending March 31, 2013.</pre><pre>On April 17, 2013, the Company signed two Agreements To Serve On Board Of</pre><pre>Directors with two new independent Board of Director members and issued a total</pre><pre>of 600,000 restricted Common shares, 300,000 to each, at $0.10 per share, the</pre><pre>closing price of the Company's common shares on the OTC.BB. The Company expensed</pre><pre>$60,000 in the quarter ending June 30, 2013.</pre><pre>On May 20, 2013, the Company signed a Debt Settlement Agreement and issued</pre><pre>1,000,000 restricted Common shares in exchange for $50,000 in Accounts Payable</pre><pre>due to a creditor, at $0.05 per share, a 28.6% discount from the closing price</pre><pre>of the Company's freely-traded Common shares of $0.07 on the OTC.BB.</pre><pre>On June 24, 2013, the Company signed three Debt Settlement Agreements and issued</pre><pre>a total of 11, 033,333 restricted Common shares in exchange for a total of</pre><pre>$662,000 in amounts Due To Related Parties and Non-Interest Bearing Loans From</pre><pre>Related Parties, of which $92,000 was owed to its Chairman ($41,750 Due to</pre><pre>Related Parties and $50,250 Non-Interest Bearing Loans From Related Parties),</pre><pre>$510,000 was owed to its Chief Executive Officer and President ($510,000 Due To</pre><pre>Related Parties) and $60,000 owed to its Vice President of Sales and Technical</pre><pre>Services ($18,000 in Due To Related Parties and $42,000 in Non-Interest Bearing</pre><pre>Loans From Related Parties). The debt settlement was at $0.06 per share, a 14.3%</pre><pre>discount from the closing price of its freely-traded shares of $0.07 on the</pre><pre>OTC.BB.</pre><pre>On July 20, 2013, the Company sold 400,000 restricted Common shares to</pre><pre>non-related parties at $0.05 per share for cash of $20,000, at a 28.6% discount</pre><pre>from the closing price of the Company's freely-traded Common shares of $0.07 on</pre><pre>the OTC.BB on July 19, 2013.</pre><pre>On July 22, 2013, the Company issued 100,000 restricted Common shares at $0.08</pre><pre>per share, for a total of $8,000, for services from a non-related party</pre><pre>consultant. The $8,000 was expensed in the quarter ending September 30, 2013.</pre><pre>On August 27, 2013, the Company rescinded and canceled 300,000 restricted Common</pre><pre>shares at $0.06 per share, for a total of $18,000, from its Vice President of</pre><pre>Sales and Technical Services, who on June 24, 2013 (see above) signed a Debt</pre><pre>Settlement Agreement for $60,000.</pre><pre>On September 26, 2013, the Company signed a Debt Settlement Agreement with its</pre><pre>Chief Executive Officer and President for 300,000 restricted Common shares at</pre><pre>$0.06 per share, for a total of $18,000, a 25% discount from the closing price</pre><pre>of the Company's freely-traded Common shares of $0.08 on the OTC.BB.</pre><pre>On October 1, 2013, the Company signed a Consulting Agreement with a non-related</pre><pre>party to provide investor relations services, providing for the issuance of</pre><pre>200,000 restricted Common shares at $0.08 per share, for a total of $16,000, the</pre><pre>closing price of the Company's freely-traded Common shares on the OTC.BB and</pre><pre>expensed in the quarter.</pre><pre>On October 25, 2013, the Company signed Debt Settlement Agreements with its</pre><pre>Chairman and Chief Executive Officer and President for 1,300,000 and 2,500,000</pre><pre>restricted Common shares at $0.06 per share, respectively, for a total of</pre><pre>$78,000 and $150,000, respectively, a 33.3% discount from the closing price of</pre><pre>the Company's freely-traded Common shares of $0.09 on the OTC.BB.</pre><pre>On November 26, 2013, the Company signed a Debt Settlement Agreement with a</pre><pre>non-related party consultant for 1,000,000 restricted Common shares at $0.03 per</pre><pre>share, respectively, for a total of $30,000, a 40% discount from the closing</pre><pre>price of the Company's freely-traded Common shares of $0.05 per share on the</pre><pre>OTC.BB.</pre><pre>On December 17, 2013, the Company signed a Debt Settlement Agreement with its</pre><pre>Chief Executive Officer and President for 5,000,000 restricted Common shares at</pre><pre>$0.04 per share for a total of $200,000, a 33.3% discount from the closing price</pre><pre>of the Company's freely-traded Common shares of $0.06 per share on the OTC.BB.</pre><pre>On January 31, 2014, the Company signed a Debt Settlement Agreement with Aruba</pre><pre>Capital Partners Limited, a company owned by its Chairman, whereby 1,250,000</pre><pre>Restricted Common shares at $0.04 per share were issued in exchange for $50,000</pre><pre>of unpaid expenses incurred on behalf of the Company and a non-interest bearing</pre><pre>loan made to the Company, which represents a 33.3% discount to the closing price</pre><pre>of the Company's freely-traded shares on the OTC.BB (see Note 6 "Related Party</pre><pre>Transactions:).</pre><pre>On April 3, 2014, the Company sold 250,00 Restricted Common shares at $0.04 per</pre><pre>share for cash to a non-related party who's also a vendor (see April 4, 2014</pre><pre>transaction below), which represents a 33.3% discount to the closing price of</pre><pre>$0.06 per share of the Company's freely-traded shares on the OTC.BB.</pre><pre>On April 4, 2014, the Company signed a Debt Settlement Agreement with a</pre><pre>non-related vendor, whereby the Company issued 505,000 Restricted Common shares</pre><pre>at $0.04 per share in exchange for $20,200 of accounts payable owed to the</pre><pre>vendor, which represents a 33.3% discount to the closing price of $0.06 per</pre><pre>share of the Company's freely-traded shares on the OTC.BB.</pre><pre>On April 10, 2014, the Company sold 66,667 Restricted Common shares at $0.075</pre><pre>per share for cash to a non-related party, which represents a 25% discount to</pre><pre>the closing price of $0.10 per share of the Company's freely-traded shares on</pre><pre>the OTC.BB.</pre> <!--egx--><pre>6. RELATED PARTY TRANSACTIONS</pre><pre>As of December 31, 2014 and 2013, $599,287 and $425,379 respectively is due to</pre><pre>Company officers for unpaid expenses and fees.</pre><pre>On January 28, 2011, a related party loaned the Company $20,000 in a</pre><pre>non-interest bearing note (see "Note 9 "Non-Interest Bearing Loans"). On</pre><pre>February 3, 2012, a related party made a non-interest bearing loan of $7,000, of</pre><pre>which $5,000 was repaid on May 23, 2012. See October 1, 2013 transaction below.</pre><pre>On May 21 and 30, 2012, the Chairman of the Board loaned the Company $12,000 and</pre><pre>$38,250, respectively, in a non-interest bearing loan.</pre><pre>On April 18 and May 17, 2012, a Vice President loaned the Company $38,000 and</pre><pre>$4,000, respectively, in a non-interest bearing loan (see Note 9, "Non-Interest</pre><pre>Bearing Loans").</pre><pre>On March 5, 2013, the Company borrowed $4,850 in a non-interest bearing loan</pre><pre>from a firm controlled by the Chairman of the Board.</pre><pre>On June 24, 2013, the Chairman, Chief Executive Officer and President and the</pre><pre>Vice President Sales and Technical Services signed Debt Settlements Agreements,</pre><pre>converting $92,000, $510,000 and $60,000 (reduced by $18,000 on August 27,</pre><pre>2013), respectively, of unpaid expenses, fees and loans into 1,533,333,</pre><pre>8,500,000 and 1,000,000, respectively of restricted Common Shares (see Note 5</pre><pre>"Stockholders' Equity") at $0.06 per share. On June 24, 2013, the closing price</pre><pre>of the Company's freely-traded shares on the OTC.BB was $0.07 per share,</pre><pre>representing a 14.3% discount. A Form 8-K was filed by the Company on July 1,</pre><pre>2013. The amounts outstanding to Related Parties at December 31, 2014 and 2013</pre><pre>are unsecured.</pre><pre>On October 1, 2013, a previously classified Related Party whom the Company owes</pre><pre>$22,000 in a non-interest bearing loan is no longer deemed a Related Party (see</pre><pre>Note 9 "Non-Interest Bearing Loans"), since the party ceased to be involved in</pre><pre>any and all of the Company's business affairs.</pre><pre>On January 31, 2014, the Chairman signed a Debt Settlement Agreement, converting</pre><pre>$50,000, respectively of unpaid expenses and loans into 1,250,000 Restricted</pre><pre>Common shares (see Note 5 Stockholders' Equity") at $0.04 per share,</pre><pre>representing a 33.3% discount to the closing price of the freely-traded shares</pre><pre>on the OTC.BB.</pre><pre>On November 17, 2014, the Chairman assumed an interest-bearing loan of</pre><pre>$28,647.08 from a Non-Related Party.</pre><pre>The amounts of all expenses paid on behalf of the Company by Officers/Directors</pre><pre>and non-interest bearing loans outstanding at December 31, 2014 and December 31,</pre><pre>2013, respectively, are to Related Parties and are all unsecured.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Unpaid expenses and fees to Officers/Directors&nbsp;&nbsp;&nbsp;&nbsp; $599,287&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $425,379</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Non-interest and interest bearing loans to</pre><pre> Related Parties:</pre><pre>&nbsp;&nbsp; Chairman Of Board and Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 33,800&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,850</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========</pre> <!--egx--><pre>7. STOCK OPTIONS</pre><pre>At December 31, 2014 and 2013, the Company does not have any stock options</pre><pre>outstanding, nor does it have any written or verbal agreements for the issuance</pre><pre>or distribution of stock options at any point in the future.</pre> <!--egx--><pre>8. ADVERTISING</pre><pre>The Company expenses its advertising, which includes investor relations</pre><pre>services, as General and Administrative expenses, as incurred. The Company</pre><pre>incurred $ 6,425 and $21,000 as of December 31, 2014 and 2013, respectively.</pre> <!--egx--><pre>9. NON-INTEREST BEARING LOANS</pre><pre>On January 28, 2011 and February 3, 2012, Auspice Capital, a former related</pre><pre>party loaned the Company $27,000 in non-interest bearing loans of which $22,000</pre><pre>are outstanding as of December 31, 2014 and 2013.</pre><pre>On April 18 and May 17, 2012, a Vice President loaned the Company $38,000 and</pre><pre>$4,000, respectively, in a non-interest bearing loan (see Note 6 "Related Party</pre><pre>Transactions"). On June 24, 2013, the Vice President converted the $42,000 in</pre><pre>Non-Interest Bearing Loans into restricted Common Shares of the Company (see</pre><pre>Note 5 "Stockholders' Equity" and Note 6 "Related Party Transactions").</pre><pre>On May 21 and 30, 2012 and March 5, 2013, the Chairman of the Board loaned the</pre><pre>Company $12,000, $38,250 and $4,850 respectively, in a non-interest bearing</pre><pre>loans (see Note 6 "Related Party Transactions"). On June 24, 2013, the</pre><pre>Chairman converted the $50,250 in non-interest bearing loans in restricted</pre><pre>Common Shares of the Company (see Note 5 "Stockholders' Equity" and Note 6</pre><pre>"Related Party Transactions").</pre><pre>The amounts of all non-interest bearing loans outstanding at December 31, 2014</pre><pre>and December 31, 2013, respectively are unsecured (see Note 6, "Related Party</pre><pre>Transactions") follows:</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;--------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Non-interest bearing to Loans:</pre><pre>&nbsp; Non-Officer/Director&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 22,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 22,000</pre><pre>&nbsp; Chairman Of Board and Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,850&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,850</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;--------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 26,850&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 26,850</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========</pre> <!--egx--><pre>10. INTEREST BEARING LOANS</pre><pre>On August 12 and 19, 2011, a nonrelated party loaned the Company $15,000, in an</pre><pre>interest bearing Promissory Note at 8% per annum and a one-time financing fee of</pre><pre>$9,900. The loan, one-time financing fee and unpaid accrued interest is due upon</pre><pre>the Company's receipt of equity capital from an investor group. The full amounts</pre><pre>are unsecured and not in default.</pre><pre>On August 27, 2012, the Company borrowed $40,000 in a ninety-day non-interest</pre><pre>bearing Promissory Note and a one-time financing fee of $10,000, which was</pre><pre>expensed, from a non-related party. The loans, one-time financing fees and</pre><pre>accrued interest is due upon the Company's receipt of equity capital from an</pre><pre>investor group. The loan is unsecured and has a maturity date of December 31,</pre><pre>2013. The Company has not raised equity capital from any investor group.</pre><pre>On November 17, 2014, the a company controlled by the Chairman assumed an</pre><pre>interest-bearing loan, with principal and cumulative accrued interest totaling</pre><pre>$28,647.08 from a Non-Related Party (see Note 6 "Related Party Transactions).</pre><pre>The amounts of all interest bearing loans outstanding at December 31, 2014 and</pre><pre>2013, respectively, are not in default, are not secured and accrued interest has</pre><pre>been recorded in the respective years, follows:</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Interest bearing to Related and</pre><pre>Non-Related Parties:</pre><pre>&nbsp; Related Party - principal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 24,900&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 24,900</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; cumulative interest accrued&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,049&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,849</pre><pre>&nbsp; Non-Related Party - principal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,000</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;cumulative interest accrued&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,932&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 83,881&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 77,749</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;========&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========</pre> <!--egx--><pre>11. ARUBA BRANDS CORP. STOCK PURCHASE AGREEMENT</pre><pre>On September 18, 2013, the Company entered into a Stock Purchase Agreement</pre><pre>("Agreement") with Aruba Brands Corp ("Aruba"), whereby Aruba would acquire for</pre><pre>$1.5 million, 19.9% in Restricted Common shares, based upon the total of the</pre><pre>Company's issued and outstanding shares upon completion of the funding of this</pre><pre>Agreement. The Company filed a Form 8-K with the SEC on September 24, 2013. The</pre><pre>funding has not occurred as of December 31, 2014.</pre> <!--egx--><pre>13.&nbsp; SUBSEQUENT EVENTS</pre><pre>On January 6, 2015, the Company entered into three (3) Debt Settlement</pre><pre>Agreements to exchange a total of 26 million Restricted Common shares, at $0.01</pre><pre>per share, for debt owed to the Creditors totally $260,000, which was approved</pre><pre>at the January 9, 2015 Board Of Directors Meeting. The Chairman exchanged</pre><pre>$200,000 of debt for twenty (20) million Restricted Common shares, an</pre><pre>independent Director exchanged $10,000 of debt for one (1) million Restricted</pre><pre>Common shares and a creditor of the Company exchanged $50,000 of debt for five</pre><pre>(5) million Restricted Common Shares. Also at its January 9, 2015 Board Of</pre><pre>Directors Meeting, the Board approved a Letter Of Understanding and Term Sheet</pre><pre>to purchase the assets, including but not limited to patents, intellectual</pre><pre>property rights, logos and commercial symbols relating to the Information</pre><pre>Network technology software.</pre><pre>On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively</pre><pre>resigned as Members of the Board Of Directors, which was approved by the</pre><pre>remaining Board Members on January 20, 2015. Mr. Nason will remain as its Chief</pre><pre>Executive Officer, President and Chief Financial Officer.</pre><pre>On January 27, 2015, the Company entered into a Debt Settlement Agreement to</pre><pre>exchange six million five hundred thousand (6,500,000) Restricted Common shares,</pre><pre>at $0.03 per share, for $195,000 of debt owed to a company controlled by its</pre><pre>Chief Executive Officer, President and Chief Financial Officer, which was</pre><pre>approved at the January 28, 2015 Board Of Directors Meeting.</pre><pre>On February 4, 2015, the Company sold for cash 1,000,000 Restricted Common</pre><pre>shares to a non-related party at $0.025 per share for $25,000.</pre><pre>On February 5, 2015, the Company filed a Form 8-K with the Securities and</pre><pre>Exchange Commission regarding the above events.</pre><pre>On February 9, 2015, the Board of Directors of the Company resolved and approved</pre><pre>to change the Company's name to SnooGoo Corp. and to increase the authorized</pre><pre>Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par</pre><pre>value, which was approved by over fifty-one percent (51%) of the issued and</pre><pre>outstanding Common Shares. On February 10, 2015, a Certificate of Amendment was</pre><pre>accordingly filed with the State of Nevada and the Company received a Nevada</pre><pre>State Business License for SnooGoo Corp. on February 11, 2015.</pre><pre>On February 11, 2015, the Company filed a Form 8-K with the Securities and</pre><pre>Exchange Commission regarding the signing of the Asset Purchase Agreement, as</pre><pre>per January 9, 2015 above, along with a Debt Settlement Agreement to exchange</pre><pre>six million six hundred and sixty eight thousand (6,668,000) Restricted Common</pre><pre>shares, at $0.03 per share, for $200,040 of debt owed to a company controlled by</pre><pre>its Chief Executive Officer, President and Chief Financial Officer, which was</pre><pre>approved at the February 16, 2015 Board Of Directors Meeting.</pre><pre>On February 16, 2015, the Board of Directors of the Company resolved and</pre><pre>approved the Debt Settlement Agreement dated February 11, 2015, as per the</pre><pre>previous paragraph and approved Consulting Agreements with Kenny Consulting, LLC</pre><pre>dated February 3, 2015 for 4,000,000 Restricted Common shares at $0.03 per</pre><pre>share, Robert Egeland dated February 3, 2015 for 7,500,000 Restricted Common</pre><pre>shares at $0.03 per share, Michael Schifsky dated February 10, 2015 for</pre><pre>4,000,000 Restricted Common shares at $0.03 per share and Nishil Patel dated</pre><pre>February 10, 2015 for 500,000 Restricted Common shares at $0,03 per share.</pre><pre>On February 17, 2015, the Board of Directors of the Company resolved and</pre><pre>approved an Amendment to each Agreement to Serve on the Board of Directors with</pre><pre>the two independent Directors, Richard Truelick and Scott Campbell, for</pre><pre>2,000,000 Restricted Common shares at $0.03 per share to each independent</pre><pre>Director.</pre><pre>On February 23, 2015, the Board of Directors of the Company accepted the</pre><pre>resignation of Martin R. Nason as Company Treasurer and the appointment of</pre><pre>Michael Schifsky as Company Treasurer.</pre><pre>On February 23, 2015, the Company received approval from the Financial Industry</pre><pre>Regulatory Authority ("FINRA"), that it approved the name change from Casey</pre><pre>Container Corp. to Snoogoo Corp. and assigned the trading symbol "SGOO,"</pre>effective the beginning of trading on February 24, 2015. <!--egx--><pre>1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING</pre><pre>POLICIES</pre><pre>DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY - Snoogoo Corporation</pre><pre>(formerly Casey Container Corp. and formerly Sawadee Ventures Inc.), a Nevada</pre><pre>corporation, (hereinafter referred to as the "Company" or "Snoogoo Corp") was</pre><pre>incorporated in the State of Nevada on September 26, 2006. The Company's</pre><pre>year-end is December 31. The Company was originally formed in 2006 to engage in</pre><pre>the acquisition, exploration and development of natural resource properties of</pre><pre>merit.</pre><pre>Effective January 6, 2010 Ms. Rachna Khanna tendered her resignation as the</pre><pre>President, CEO, CFO and Director. Effective January 12, 2010, James Casey, Terry</pre><pre>Neild and Robert Seaman were appointed as Directors of the Company. Mr. Casey</pre><pre>was elected President, Mr. Terry Neild was elected Chief Executive Officer,</pre><pre>Chief Financial Officer and Secretary and Mr. Seaman was elected Vice</pre><pre>President-Operations.</pre><pre>Effective January 12, 2010, the Company's Certificate of Incorporation was</pre><pre>changed and the name of the Company was changed to Casey Container Corp.</pre><pre>("Casey"). Casey designs and will custom manufacture biodegradable PET and other</pre><pre>polymer plastic preforms that become PET and other polymer plastic bottles and</pre><pre>containers, for such product lines as bottled water, bottled beverages and other</pre><pre>consumer products. Casey has a non-exclusive supply and license agreement with</pre><pre>Bio-Tec Environmental, LLC. Casey currently is considered a "shell" company</pre><pre>inasmuch as it is not in production and has no revenues, employees or material</pre><pre>assets.</pre><pre>Effective February 7, 2011, Martin R. Nason was elected President, Chief</pre><pre>Executive Officer and Chief Financial Officer. Mr. Neild remained Chairman of</pre><pre>the Board of Directors and Secretary, Mr. Casey as Vice President of Technical</pre><pre>Services and Sales and Mr. Seaman as Vice President Manufacturing. On January</pre><pre>31, 2014, Mr. Seaman resigned and Mr. Nason was elected as a Director.</pre><pre>On January 9, 2015 the Board Of Directors approved a Letter Of Understanding and</pre><pre>Term Sheet to purchase the assets, including, but not limited to patents,</pre><pre>intellectual property rights, logos and commercial symbols relating to an</pre><pre>Information Network technology software.</pre><pre>On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively,</pre><pre>resigned as Members of the Board Of Directors, which was approved by the</pre><pre>remaining Board Members on January 20, 2015. Mr. Nason remained as its Chief</pre><pre>Executive Officer, President and Chief Financial Officer.</pre><pre>On February 9, 2015, the Board of Directors of the Company resolved and approved</pre><pre>to change the Company's name to SnooGoo Corp. and to increase the authorized</pre><pre>Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par</pre><pre>value and on February 10, 2015, a Certificate of Amendment was accordingly filed</pre><pre>with the State of Nevada and the Company received a Nevada State Business</pre><pre>License for SnooGoo Corp. on February 11, 2015. On February 11, the Company</pre><pre>signed an Asset Purchase Agreement relative to the Letter Of Understanding and</pre><pre>Term Sheet per January 9, 2015 above, taking the Company in a completely new</pre><pre>business direction. The Company no longer will no pursue its previous business</pre><pre>venture in the biodegradable plastic industry. The Company filed for trademark</pre><pre>registration of the Snoogoo name and logo as identifying marks of the Snoogoo</pre><pre>Software products and Apps, including all applications (see Note 13, "Subsequent</pre><pre>Events").</pre> <!--egx--><pre>BASIS OF PRESENTATION - In the opinion of management, the accompanying balance</pre><pre>sheets and related statements of operations, cash flows and stockholders' equity</pre><pre>include all adjustments, consisting only of normal recurring items, necessary</pre><pre>for their fair presentation in conformity with accounting principles generally</pre><pre>accepted in the United States of America ("U.S. GAAP"). Preparing financial</pre><pre>statements requires management to make estimates and assumptions that affect the</pre><pre>reported amounts of assets, liabilities and disclosure of contingent assets and</pre><pre>liabilities at the date of the financial statements and the reported amount of</pre><pre>revenue and expenses during the reporting period. Actual results and outcomes</pre><pre>may differ from managements' estimates and assumptions.</pre> <!--egx--><pre>RECENT ACCOUNTING PRONOUNCEMENTS - FASB issues various Accounting Standards</pre><pre>Updates relating to the treatment and recording of certain accounting</pre><pre>transactions. On June 10, 2014, the Financial Accounting Standards Board issued</pre><pre>Accounting Standards Update (ASU) No. 2014-10, DEVELOPMENT STAGE ENTITIES (TOPIC</pre><pre>915) - ELIMINATION OF CERTAIN FINANCIAL REPORTING REQUIREMENTS, INCLUDING AN</pre><pre>AMENDMENT TO VARIABLE INTEREST ENTITIES GUIDANCE IN TOPIC 810, CONSOLIDATION,</pre><pre>which eliminates the concept of a development stage entity (DSE) entirely from</pre><pre>current accounting guidance. The Company has elected adoption of this standard,</pre><pre>which eliminates the designation of DSEs and the requirement to disclose results</pre><pre>of operations and cash flows since inception.</pre> <!--egx--><pre>FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair value estimates discussed herein are</pre><pre>based upon certain market assumptions and pertinent information available to</pre><pre>management, as of December 31, 2014 and 2013. These financial instruments</pre><pre>include cash, prepaid expenses and accounts payable. Fair values were assumed to</pre><pre>approximate carrying values for cash and payables because they are short term in</pre><pre>nature and their carrying amounts approximate fair values or they are payable on</pre><pre>demand.</pre><pre>Level 1: The preferred inputs to valuation efforts are "quoted prices in active</pre><pre>markets for identical assets or liabilities," with the caveat that the reporting</pre><pre>entity mush have access to that market. Information at this level is based on</pre><pre>direct observations of transactions involving the same assets and liabilities,</pre><pre>not assumptions, and thus offers superior reliability. However, relatively few</pre><pre>items, especially physical assets, actual trade in active markets.</pre><pre>Level 2: The Financial Accounting Standards Board ("FASB") acknowledged that</pre><pre>active markets for identical assets and liabilities are relatively uncommon and,</pre><pre>even when they do exist, they may be too thin to provide reliable information.</pre><pre>To deal with this shortage of direct data, FASB provided a second level of</pre><pre>inputs that can be applied in three situations.</pre><pre>Level 3: If inputs from Levels 1 and 2 are not available, FASB acknowledges that</pre><pre>fair value measures of many assets and liabilities are less precise. FASB</pre><pre>describes Level 3 inputs as "unobservable," and limits their use by saying they</pre><pre>"shall be used to measure fair value to the extent that observable inputs are</pre><pre>not available." This category allows "for situations in which there is little,</pre><pre>if any, market activity for the asset or liability at the measurement date."</pre><pre>Earlier in the standard, FASB explains that "observable inputs" are gathered</pre><pre>from sources other than the reporting company and that they are expected to</pre><pre>reflect assumptions made my market participants.</pre> <!--egx--><pre>REVENUE RECOGNITION - The Company recognizes revenue when the following four</pre><pre>revenue recognition criteria are met (1) persuasive evidence of an arrangement</pre><pre>that exists; (2) delivery has occurred or services have been provided; (3) the</pre><pre>selling price is fixed or determinable and (4) collectability is reasonably</pre><pre>assured.</pre><pre>LONG-LIVED ASSETS - The carrying value of intangible assets and other long-lived</pre><pre>assets is reviewed on a regular basis for the existence of facts or</pre><pre>circumstances that may suggest impairment. The Company recognizes impairment</pre><pre>when the sum of the expected undiscounted future cash flows is less than the</pre><pre>carrying amount of the asset. Impairment losses, if any, are measured as the</pre><pre>excess of the carrying amount of the asset over its estimated fair value.</pre> <!--egx--><pre>STOCK-BASED COMPENSATION - The Company has not adopted a stock option plan. In</pre><pre>the years ended December 31, 2014 and 2013, the Company issued none and 600,000</pre><pre>Restricted Common shares with a value of none and $60,000 respectively, which</pre><pre>represented the closing price of the Company's Common shares on the date of each</pre><pre>issuance.</pre> <!--egx--><pre>NET LOSS PER COMMON SHARE - Basic net loss per share is computed by dividing the</pre><pre>net loss available to common stockholders for the period by the weighted average</pre><pre>number of shares of common stock outstanding during the period. The calculation</pre><pre>of diluted net loss per share gives effect to common stock equivalents; however,</pre><pre>potential common shares are excluded if their effect is anti-dilutive. For the</pre><pre>period from September 26, 2006 (Date of Inception) through December 31, 2014,</pre><pre>the Company had no potentially dilutive securities. The basic and diluted net</pre><pre>loss per share was $(0.00) and $(0.01) for the years ended December 31, 2014 and</pre><pre>2013, respectively. For the years ended December 31, 2014 and 2013 the Net Loss</pre><pre>was $(280,708) and $(601,002), respectively. For the years ended December 31,</pre><pre>2014 and 2013, the Weighted Average Number of Common shares used in per share</pre><pre>calculations was 94,448,130 and 76,512,135 respectively.</pre> <!--egx--><pre>INCOME TAXES - The Company accounts for its income taxes by recognizing deferred</pre><pre>tax assets and liabilities for future tax consequences attributable to</pre><pre>differences between the financial statement carrying amounts of existing assets</pre><pre>and liabilities and their respective tax basis and tax credit carry forwards.</pre><pre>Deferred tax assets and liabilities are measured using enacted tax rates</pre><pre>expected to apply to taxable income in the years in which those temporary</pre><pre>differences are expected to be recovered or settled. The effect on deferred tax</pre><pre>assets and liabilities of a change in tax rates is recognized in operations in</pre><pre>the period that includes the enactment date.</pre><pre>The Company has net operating loss carryovers of $4,537,713 and $4,257,005 for</pre><pre>the years ended December 31, 2014 and 2013 respectively, to be used to reduce</pre><pre>future year's taxable income. The Company has recorded a valuation allowance for</pre><pre>the full potential tax benefit of the operating loss carryovers due to the</pre><pre>uncertainty regarding realization.</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------</pre><pre>Net operating loss carryovers&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,537,713&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,257,005</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============</pre><pre>Effective tax deferred asset (30% tax rate)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 1,361,314&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 1,277,101</pre><pre>Impairment of tax deferred asset&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ (1,361,314)&nbsp;&nbsp;&nbsp;&nbsp; $ (1,277,101)</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------</pre><pre>Net tax deferred asset&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============</pre> <!--egx--><pre>CASH AND CASH EQUIVALENTS - The Company considers all highly liquid investments</pre><pre>with maturity of three months or less to be cash equivalents.</pre> <!--egx--><pre>LONG-LIVED ASSETS - The carrying value of intangible assets and other long-lived</pre><pre>assets is reviewed on a regular basis for the existence of facts or</pre><pre>circumstances that may suggest impairment. The Company recognizes impairment</pre><pre>when the sum of the expected undiscounted future cash flows is less than the</pre><pre>carrying amount of the asset. Impairment losses, if any, are measured as the</pre><pre>excess of the carrying amount of the asset over its estimated fair value.</pre> <!--egx--><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------</pre><pre>Net operating loss carryovers&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,537,713&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,257,005</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============</pre><pre>Effective tax deferred asset (30% tax rate)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 1,361,314&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 1,277,101</pre><pre>Impairment of tax deferred asset&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ (1,361,314)&nbsp;&nbsp;&nbsp;&nbsp; $ (1,277,101)</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------</pre><pre>Net tax deferred asset&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ============</pre> <!--egx--><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Unpaid expenses and fees to Officers/Directors&nbsp;&nbsp;&nbsp;&nbsp; $599,287&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $425,379</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Non-interest and interest bearing loans to</pre><pre> Related Parties:</pre><pre>&nbsp;&nbsp; Chairman Of Board and Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 33,800&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 4,850</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========</pre> <!--egx--><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;--------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Non-interest bearing to Loans:</pre><pre>&nbsp; Non-Officer/Director&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 22,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 22,000</pre><pre>&nbsp; Chairman Of Board and Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,850&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,850</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;--------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 26,850&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 26,850</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========</pre> <!--egx--><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December 31,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 31,</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2013</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>Interest bearing to Related and</pre><pre>Non-Related Parties:</pre><pre>&nbsp; Related Party - principal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 24,900&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 24,900</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; cumulative interest accrued&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,049&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,849</pre><pre>&nbsp; Non-Related Party - principal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,000</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;cumulative interest accrued&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,932&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --------</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 83,881&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 77,749</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;========&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ========</pre> 0 0 0 0 274576 600226 274576 600226 6132 776 6132 776 0 0 -280708 -601002 0 -0.01 94448130 76512135 1000000000 0.001 4537713 4257005 1361314 1277101 -1361314 -1277101 0 0 0.00 -0.01 -280708 -601002 94448130 76512135 0 600000 0 600000 4537713 18379 10000000 10000000 0.001 0.001 250000000 250000000 0.001 0.001 94771701 92700034 94771701 92700034 300000 150000 72000 33000 400000 100000 1000000 0.05 0.08 0.03 20000 8000 30000 0.2860 0.2500 300000 18000 60000 300000 78000 5000000 18000 150000 200000 200000 16000 300000 300000 600000 150000 450000 0.05 0.1 0.15 67500 11033333 1000000 662000 50000 0.1430 0.2860 72000 60000 33000 5000000 0.04 0.04 50000 200000 0.3330 0.3330 0.3330 1250000 25000 505000 66667 0.04 0.04 0.075 20200 12000 38250 250000 0.18 0.06 38000 4000 662000 11033333 22000 50000 1250000 28647.08 599287 425379 33800 4850 599287 425379 6425 21000 0 0 0 0 24900 24900 50000 50000 4932 0 83881 77749 22000 22000 4850 4850 26850 26850 40000 15000 15000 0.1000 0.0800 0.0800 10000 9900 50000 0.1990 1500000 10000000 0.4000 5000000 0.0600 2600000 0.01 0.03 260000 200000 10000 50000 6500000 195000 200040 1000000 0.025 25000 250000000 0.001 6668000 0.03 4000000 0.03 500000 0.03 69566701 69567 0 0 2263889 -3656003 -1322547 -300000 -300 -71700 -72000 -150000 -150 -32850 -33000 450000 450 67050 67500 600000 600 59400 60000 1000000 1000 49000 50000 1533333 1533 90467 92000 1000000 1000 59000 60000 8500000 8500 501500 510000 400000 400 19600 20000 100000 100 7900 8000 -300000 -300 -17700 -18000 300000 300 17700 18000 200000 200 15800 16000 1300000 1300 76700 78000 2500000 2500 147500 150000 1000000 1000 29000 30000 5000000 5000 195000 200000 -601002 -601002 92700034 92700 3477256 -4257005 -687049 1250000 1250 48750 50000 505000 505 19695 20200 250000 250 9750 10000 66667 67 4933 5000 -280708 -280708 94771701 94772 0 0 3560384 -4537713 -882557 27000 27000 38000 4000 12000 38250 4850 42000 <!--egx--><pre>12. STOCK PURCHASE AGREEMENT</pre><pre>On April 3, 2014, the Company approved and signed a Stock Purchase Agreement</pre><pre>dated March 24, 2014 with an investor group for a total amount of $10 million.</pre><pre>For $5 million of the total, the investor will receive Restricted Common shares</pre><pre>equal to forty percent (40%) of the total number of Common shares issued and</pre><pre>outstanding on the date of funding and the investor would loan the Company $5</pre><pre>million at 6%, to be paid over a period of years, with a payment grace period of</pre><pre>interest and principal until January 1, 2016. The Company filed a Form 8-K with</pre><pre>the SEC on April 14, 2014. No funding has been received as of December 31, 2014</pre><pre>and the Company deems the transaction terminated.</pre> 10-K 2014-12-31 false SOON Snoogoo Corp. 0001387998 --12-31 154939701 6197588 Smaller Reporting Company Yes No No 2014 FY 0001387998 2014-01-01 2014-12-31 0001387998 2015-03-27 0001387998 2014-12-31 0001387998 2013-12-31 0001387998 2013-01-01 2013-12-31 0001387998 2013-02-01 2014-01-31 0001387998 2012-12-18 2013-12-17 0001387998 2012-10-26 2013-10-25 0001387998 2012-06-25 2013-06-24 0001387998 2015-02-09 0001387998 2006-09-27 2014-12-31 0001387998 2010-12-31 0001387998 2012-12-12 0001387998 2012-08-30 0001387998 2013-07-20 0001387998 2013-07-22 0001387998 2013-08-27 0001387998 2013-09-26 0001387998 2013-10-01 0001387998 2013-10-25 0001387998 2013-12-17 0001387998 2013-11-26 0001387998 2013-06-24 0001387998 2013-05-20 0001387998 2013-04-17 0001387998 2013-02-13 0001387998 2013-01-15 0001387998 2014-01-31 0001387998 2014-04-03 0001387998 2014-04-04 0001387998 2014-04-10 0001387998 2012-05-21 0001387998 2012-05-30 0001387998 2012-04-11 0001387998 2012-04-18 0001387998 2012-05-17 0001387998 2012-06-24 0001387998 2014-11-17 0001387998 2012-02-03 0001387998 2011-01-28 0001387998 2012-09-30 0001387998 2012-08-27 0001387998 2011-08-19 0001387998 2011-08-12 0001387998 2013-09-19 0001387998 2015-01-06 0001387998 2015-01-27 0001387998 2015-02-04 0001387998 2015-02-11 0001387998 2015-02-03 0001387998 us-gaap:CapitalUnitsMember 2012-12-31 0001387998 us-gaap:CommonStockMember 2012-12-31 0001387998 fil:CommonStockIssuableSharesMember 2012-12-31 0001387998 fil:CommonStockIssuableAmountMember 2012-12-31 0001387998 us-gaap:AdditionalPaidInCapitalMember 2012-12-31 0001387998 us-gaap:RetainedEarningsMember 2012-12-31 0001387998 us-gaap:ParentMember 2012-12-31 0001387998 us-gaap:CapitalUnitsMember 2013-01-01 2013-12-31 0001387998 us-gaap:CommonStockMember 2013-01-01 2013-12-31 0001387998 us-gaap:AdditionalPaidInCapitalMember 2013-01-01 2013-12-31 0001387998 us-gaap:RetainedEarningsMember 2013-01-01 2013-12-31 0001387998 us-gaap:ParentMember 2013-01-01 2013-12-31 0001387998 us-gaap:CapitalUnitsMember 2013-12-31 0001387998 us-gaap:CommonStockMember 2013-12-31 0001387998 us-gaap:AdditionalPaidInCapitalMember 2013-12-31 0001387998 us-gaap:RetainedEarningsMember 2013-12-31 0001387998 us-gaap:ParentMember 2013-12-31 0001387998 us-gaap:CapitalUnitsMember 2014-01-01 2014-12-31 0001387998 us-gaap:CommonStockMember 2014-01-01 2014-12-31 0001387998 us-gaap:AdditionalPaidInCapitalMember 2014-01-01 2014-12-31 0001387998 us-gaap:RetainedEarningsMember 2014-01-01 2014-12-31 0001387998 us-gaap:ParentMember 2014-01-01 2014-12-31 0001387998 us-gaap:CapitalUnitsMember 2014-12-31 0001387998 us-gaap:CommonStockMember 2014-12-31 0001387998 fil:CommonStockIssuableSharesMember 2014-12-31 0001387998 fil:CommonStockIssuableAmountMember 2014-12-31 0001387998 us-gaap:AdditionalPaidInCapitalMember 2014-12-31 0001387998 us-gaap:RetainedEarningsMember 2014-12-31 0001387998 us-gaap:ParentMember 2014-12-31 iso4217:USD shares iso4217:USD shares pure EX-101.SCH 7 sgoo-20141231.xsd 000350 - 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PROPERTY AND EQUIPMENT {1} PROPERTY AND EQUIPMENT Cash paid for income taxes SUPPLEMENTAL CASH FLOW INFORMATION: FINANCING ACTIVITIES: Accounts payables and loans due to Related Parties converted into stock Accounts payables and loans due to Related Parties converted into stock Stock issued at $0.06 per share for debt to the CEO on June 24, 2013 Stock issued at $0.06 per share for debt to the CEO on June 24, 2013 Stock issued at $0.15 per share for investor relations services on Feburary 13 2013 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury Stock issued at $0.15 per share for investor relations services on Feburary 13 2013 Total Other Expenses Total Other Expenses Common Stock, shares authorized Document Fiscal Year Focus Consulting Agreements with Kenny Consulting, LLC for Restricted Common shares per share Face amount or stated value per share of common stock. SnooGoo Corp to increase the authorized Common Shares The maximum number of common shares permitted to be issued by an entity's charter and bylaws. General and Administrative expenses, as incurred The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Non-interest bearing loans outstanding Percentage of discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB. Percentage of discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB. Capital Stock Transactions during the period as follows Value of shares rescinded Value of shares rescinded Company sold restricted Common shares to non related parties Company sold restricted Common shares to non related parties NET LOSS PER COMMON SHARE INCOME TAXES ADVERTISING STOCK OPTIONS Net Increase (Decrease) in Cash Finance and interest charges added to loan payable Total Operating Expenses Total Operating Expenses Stockholders' Equity, Number of Shares, Par Value and Other Disclosures Preferred Stock 10,000,000 authorized, par value $0.001, Interest and non Interest Bearing Loans, InterestAndNonInterestBearingLoans Entity Voluntary Filers Current Fiscal Year End Date Amount payable after ninety days Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Related Party - principal The amount of any current tax-related balances due from affiliates as of the date of each statement of financial position presented. Non Interest bearing loans Related party transactions Unpaid expenses and fees Vice President of Sales and Technical Services signed a Debt Settlement Agreement Vice President of Sales and Technical Services signed a Debt Settlement Agreement Company rescinded and canceled restricted Common shares at $0.06 per share,from its Vice President of Sales and Technical Services Company rescinded and canceled restricted Common shares at $0.06 per share,from its Vice President of Sales and Technical Services Stockholders Equity Shares Preferred and Common Stock Asset contract rights (impaired and expensed the full amount) The amount of asset contract rights as of the date. DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY INTEREST BEARING LOAN {1} INTEREST BEARING LOAN Net Cash Provided from Operating Activities Net Loss for the Year December 31, 2014 The portion of profit or loss for the period, net of income taxes, which is attributable to the parent Additional Paid-In Capital Basic and Diluted Earnings Per Common Share. Preferred Stock, shares authorized Document and Entity Information Consulting Agreements Michael Schifsky for Restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Company exchanged of debt for five (5) million Restricted Common Shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. The amounts of all non-interest bearing loans outstanding at December 31, 2014 and December 31, 2013 (Details) Discount to the closing price of the Company's freely-traded shares on the OTC.BB Discount to the closing price of the Company's freely-traded shares on the OTC.BB Common stock authorized shares The maximum number of common shares permitted to be issued by an entity's charter and bylaws. RECENT ACCOUNTING PRONOUNCEMENTS Common stock share exchangedfor expenses incurred CommonStockShareExchangedforExpensesIncurred Expenses incurred on our behalf and loans from Related Parties exchanged for 1,250,000, 5,000,000, 3,800,000, and 11,033,333 Common shares on January 31, 2014, December 17, 2013, October 25, 2013, and June 24, 2013 Common stock issued for related party debt under non cash activity. Repayment of Related party expenses paid on our behalf Repayment of Related party expenses paid on our behalf Stock issued at $0.08 per share for consulting services on July 22, 2013 Number of new stock issued during the period. Total Revenues Total Revenues Entity Public Float Stock Purchase Agreement with an investor group for a total amount Stock Purchase Agreement with an investor group for a total amount Non-interest bearing to Loans: Non-Interest Bearing Loans of the Vice President into restricted Common Shares of the Company Non-Interest Bearing Loans of the Vice President into restricted Common Shares of the Company Loan from Chairman of the Board Loan from Chairman of the Board Restricted Common shares issued to Chief Executive Officer and President Restricted Common shares issued to Chief Executive Officer and President Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for an amount Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for an amount Common stock outstanding shares Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any. Closing price of the Company's Common shares Closing price of the Company's Common shares Net tax deferred asset Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Stock issued for services to Non-Officer Board Members Stock issued for services to Non-Officer Board Members Net Loss for the Year December 31, 2013 The portion of profit or loss for the period, net of income taxes, which is attributable to the parent Stock cancelled at $0.24 per share on January 15, 2013 from the original issuance on August 30, 2012 Stock cancelled at $0.24 per share on January 15, 2013 from the original Statement {1} Statement Stockholders Equity Common Stock Amount Other Expenses {1} Other Expenses Total Current Liabilities Total Current Liabilities Due to Related Parties, Entity Current Reporting Status Company sold Restricted Common shares for cash to a non-related party value Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Director exchanged of debt for one (1) million Restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. ARUBA BRANDS CORP STOCK PURCHASE AGREEMENT ArubaBrandsCorpStockPurchaseAgreementAbstract Interest bearing Promissory Note Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Non-Officer/Director Non-Officer/Director Accounts payable owed to the vendor Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). 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Total of the shares issued on conversion Total of the shares issued on conversion Rescission Agreement regarding issuances restricted Common shares Rescission Agreement regarding issuances restricted Common shares The Company reversed the originally recorded in the quarters The Company reversed the originally recorded in the quarters Net losses from inception The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Basic net loss per share Computation Interest Bearing Loans To Non Related Parties As Follows LONG-LIVED ASSETS Net Loss Total Liabilities and Stockholders' Equity Total Liabilities and Stockholders' Equity Total Stockholders' Equity Total Stockholders' Equity Entity Central Index Key Document Period End Date Equity Component [Domain] Company sold Restricted Common shares for cash to a non-related party per share Face amount or stated value per share of common stock. Debt owed to the Creditors Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. Non-Related Party - principal The amount of any current tax-related balances due to affiliates as of the date of each statement of financial position presented Chairman Of Board and Officer Chairman Of Board and Officer Amounts outstanding to Related Parties respectively as follows Debt Settlement Agreement Company sold restricted Common shares to non related parties [Abstract] Issue of restricted Common shares for a Debt Settlement agreement Issue of restricted Common shares for a Debt Settlement agreement Deferred TAX Asset {1} Deferred TAX Asset PROPERTY AND EQUIPMENT Stock issued at $0.04 per share for debt on January 31, 2014 Number of new stock issued during the period at $0.04 per share for debt on January 31, 2014. Deficit Accumulated During Development Stage Changes in Stockholders Equity CURRENT LIABILITIES Debt Settlement Agreement to exchange six million five hundred thousand Restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Payment of interest PaymentOfInterest Chairman Of Board and Officer {1} Chairman Of Board and Officer Chairman Of Board and Officer Per share value of the shares issued Per share value of the shares issued Net operating loss carryovers The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized. STOCK-BASED COMPENSATION ARUBA BRANDS CORP. STOCK PURCHASE AGREEMENT Accounts payable and accrued liabilities Stock cancelled due to rescission of agreements Stock cancelled due to rescission of agreements Stock issued at $0.10 per share for compensation to Board Members on April 17 2013 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury compensation to Board Members on April 17 2013 Common Stock Issuable Amount EXPENSES: Preferred Stock, par value Additional Paid-in-Capital Common Stock 250,000,000 authorized shares, par value $0.001 94,771,701 and 92,700,034 shares issued and outstanding at December 31, 2014 and December 31, 2013 Interest and Non-interest Bearing Loans From Related Parties The Amount of Interest and Non-interest Bearing Loans From Related Parties as of Balance Sheet Date. Total Current Assets Total Current Assets Document Fiscal Period Focus Entity Registrant Name Consulting Agreements Michael Schifsky for Restricted Common shares per share Face amount or stated value per share of common stock. Debt owed to a company controlled by its Chief Executive Officer Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. For $5 million of the total, the investor will receive restricted Common shares For $5 million of the total, the investor will receive restricted Common shares Non interest bearing Loan by Vice President Non interest bearing Loan by Vice President Restricted common shares total value Restricted common shares total value issued to Chief Executive Officer and President Restricted Common shares, Restricted Common shares, The Weighted Average Number of Common shares used in per share calculations Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). Non-interest bearing loans DESCRIPTION OF BUSINESS AND HISTORY Disclosure of accounting policy about Description Of Business And History. Stock issued at $0.05 per share for debt to consultant on May 20, 2013 Stock issued at $0.05 per share for debt to consultant on May 20, 2013 Stock cancelled at $0.22 per share on January 15, 2013 from the original issuance on December 12, 2012 Stock cancelled at $0.22 per share on January 15, 2013 from the original issuance on December 12, 2012 Common Stock Issuable Shares Total Assets Total Assets Entity Common Stock, Shares Outstanding Debt Settlement Agreement to exchange six million six hundred and sixty eight thousand Restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Debt Settlement Agreements to exchange a total Restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Loan by related party to the company Loan by related party to the company Debt Settlement Agreement, converting Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. Percentage of discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB for restricted shares Percentage of discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB for restricted shares Preferred Stock authorized shares The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Non Interest Bearing Loans Tabular disclosure for Non Interest Bearing Loans To Non Related Parties. Cash, End of the Period Cash, End of the Period Cash, Beginning of the Period. Cash, Beginning of the Period. Common stock issued and issuable for cash Cash Company sold Restricted Common shares for cash to a non-related party Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Aruba will acquire Stock purchase agreement Aruba will acquire Stock purchase agreement Company officers for unpaid expenses and fees Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Chairman assumed an interest-bearing loan Amount of the cost of borrowed funds accounted for as interest expense. Restricted Common shares per share Restricted common shares per value issued to Chief Executive Officer and President The Company reversed consulting and investor relations service agreements originally recorded in the third quarter of 2012 The Company reversed consulting and investor relations service agreements originally recorded in the third quarter of 2012 Per share value of restricted Common shares Per share value of restricted Common shares Preferred Stock shares Par value The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Intangibles Contract Rights Net Loss used for calculation of net loss per share The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.. Effective tax deferred asset (30% tax rate) Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets. SUBSEQUENT EVENTS INTEREST BEARING LOAN STOCK OPTIONS {1} STOCK OPTIONS GOING CONCERN {1} GOING CONCERN Adjustments to reconcile net loss to net cash used in operating activities: Stock cancelled at $0.06 per share on August 27, 2013 from the original issuance to a Vice President on June 24,2012 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the from the original issuance to a Vice President on June 24,2012 Common Stock, par value Amendment Flag INTEREST BEARING LOAN nonrelated party Consists Of the Following Total {1} Total Total Unpaid expenses and fees to Officers/Directors Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Company signed a Consulting Agreement with a non-related party to provide investor relations services for an amount Company signed a Consulting Agreement with a non-related party to provide investor relations services for an amount Company entered into a Rescission Agreement STOCK-BASED COMPENSATION {1} STOCK-BASED COMPENSATION Interest Bearing Loans To Non Related Parties As Follows {1} Interest Bearing Loans To Non Related Parties As Follows Tabular disclosure for amounts of all interest bearing loans outstanding respectively, are not in default, are not secured and accrued interest was recorded Related Party Transactions Amounts Outstanding NON CASH ACTIVITIES: Net Cash Provided from Financing Activities Stock issued for services to Non-Related Party Stock issued for services to Non-Related Party Stock issued at $0.06 per share for debt to Chairman on October 25, 2013 Stock issued at $0.06 per share for debt to Chairman on October 25, 2013 Stock issued at $0.08 per share for investor relations services on October 1,2013 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the from the original issuance to Stock issued at $0.08 per share for investor relations services on October 1,2013 Stock issued at $0.06 per share for debt to Chairman on June 24, 2013 Stock issued at $0.06 per share for debt to Chairman on June 24, 2013 Balance Balance Balance Statement Weighted Average number of Common Shares used in per share calculations Common Stock, shares issued Entity Filer Category Restricted Common shares, at per share Face amount or stated value per share of common stock. One time financing fee on Promissory Note One time financing fee on Promissory Note Owes in a non-interest bearing loan is no longer deemed a Related Party The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle). Shares issued to Vice President for the services rendered and expensed Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury Restricted Common shares at per share Restricted Common shares at per share Company signed a Consulting Agreement with a non-related party to provide investor relations services for restricted Common shares Company signed a Consulting Agreement with a non-related party to provide investor relations services for restricted Common shares Share transactions from June to December 2013 Issuances of restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Impairment of tax deferred asset Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from estimated impairment losses. FAIR VALUE OF FINANCIAL INSTRUMENTS RELATED PARTY TRANSACTIONS STOCKHOLDERS' EQUITY {1} STOCKHOLDERS' EQUITY INTANGIBLES {1} INTANGIBLES GOING CONCERN Exchange of shares ExchangeOfSharesAbstract [Abstract] OPERATING ACTIVITIES: Stock issued at $0.04 per share for cash on April 9, 2014 Number of new stock issued during the period at $0.04 per share for cash on April 9, 2014 Stock issued at $0.04 per share for debt to President on December 17, 2013 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the from the original issuance to Stock issued at $0.04 per share for debt to President on December 17, 2013 Statement, Equity Components Accounts Payable and Accrued Liabilities, Entity Well-known Seasoned Issuer Consulting Agreements with Kenny Consulting, LLC for Restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Interest bearing Promissory Note rate per annum .Interest bearing Promissory Note rate per annum cumulative interest accrued Amount of accrued but unpaid interest on deposit liabilities. Total of the amounts converted in to shares Total of the amounts converted in to shares The Company reversed consulting and investor relations service agreements originally recorded in the third quarter of 2013 The Company reversed consulting and investor relations service agreements originally recorded in the third quarter of 2012 The basic and diluted net loss per share The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Components of deferred tax asset Increase in the par value Face amount or stated value per share of common stock. Related Party Transactions Amounts Outstanding {1} Related Party Transactions Amounts Outstanding Tabular disclosure for amounts outstanding to Related Parties amounts unsecured. REVENUE RECOGNITION NON-INTEREST BEARING LOANS Cash paid for interest Repayment of loan payable Stock issued to Non-Related Party for conversion of accounts payable Stock issued to Non-Related Party for conversion of accounts payable Expenses paid on our behalf by Related Parties Expenses paid on our behalf by Related Parties Stock issued at $0.075 per share for cash on April 17, 2014 Number of new stock issued during the period at $0.075 per share for cash on April 17, 2014 Stock issued at $0.04 per share for debt settlement agreement on April 4,2014 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the from the original issuance toStock issued at $0.04 per share for debt settlement agreement on April 4,2014 Net Income (Loss) for the period Interest Revenues {1} Revenues REVENUES: Chairman exchanged of debt for Restricted Common shares Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Investor will loan the Company Investor will loan the Company ADVERTISING {2} ADVERTISING Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for restricted Common shares Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for restricted Common shares SUBSEQUENT EVENTS {1} SUBSEQUENT EVENTS STOCK PURCHASE AGREEMENT {1} STOCK PURCHASE AGREEMENT StockPurchaseAgreement STOCK PURCHASE AGREEMENT RELATED PARTY TRANSACTIONS {1} RELATED PARTY TRANSACTIONS INTANGIBLES Non-interest bearing loan from Related Party Non-interest bearing loan from Related Party Stock issued at $0.06 per share for debt to President on September 26, 2013 Number of new stock issued during the period. Stock issued at $0.05 per share for cash on July 22, 2013 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasuryStock issued at $0.05 per share for cash on July 22, 2013 Common Stock, shares outstanding Deficit CURRENT ASSETS Document Type Value of Aruba Stock purchase agreement Value of Aruba Stock purchase agreement Interest bearing to Related and Non-Related Parties: Total Non-Interest Bearing Loans of the Chairman into restricted Common Shares of the Company Non-Interest Bearing Loans of the Chairman into restricted Common Shares of the Company Related Party Transactions Loan from Chairman of the Board Company sold Restricted Common shares per share value Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.. Restricted Common shares issued to Aruba Capital Partners Limited, a company owned by its Chairman Restricted Common shares issued to Aruba Capital Partners Limited, a company owned by its Chairman Signed a Consulting Agreement and issued a total Signed a Consulting Agreement and issued a total Common stock issued shares Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Common stock shares Par value Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Increase in the authorized Common Shares The maximum number of common shares permitted to be issued by an entity's charter and bylaws. CASH AND CASH EQUIVALENTS BASIS OF PRESENTATION ADVERTISING {1} ADVERTISING Stock issued at $0.03 per share for debt to consultant on November 26, 2013 Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the from the original issuance to Stock issued at $0.03 per share for debt to consultant on November 26, 2013 Stock issued at $0.06 per share for debt to President on October 25, 2013 Stock issued at $0.06 per share for debt to President on October 25, 2013 PROVISION FOR INCOME TAXES:. General and administrative Operating Expenses {1} Operating Expenses EX-101.PRE 11 sgoo-20141231_pre.xml XML 12 R39.htm IDEA: XBRL DOCUMENT v2.4.1.9
Non-interest bearing loans outstanding (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Non-interest bearing loans outstanding    
Unpaid expenses and fees to Officers/Directors $ 599,287fil_UnpaidExpensesAndFeesToOfficersDirectors $ 425,379fil_UnpaidExpensesAndFeesToOfficersDirectors
Non-interest and interest bearing loans to Related Parties:    
Chairman Of Board and Officer $ 33,800fil_ChairmanOfBoardAndOfficer $ 4,850fil_ChairmanOfBoardAndOfficer
XML 13 R48.htm IDEA: XBRL DOCUMENT v2.4.1.9
SUBSEQUENT EVENTS (Details) (USD $)
Feb. 11, 2015
Feb. 09, 2015
Feb. 04, 2015
Feb. 03, 2015
Jan. 27, 2015
Jan. 06, 2015
SUBSEQUENT EVENTS            
Debt Settlement Agreements to exchange a total Restricted Common shares           2,600,000fil_DebtSettlementAgreementsToExchangeATotalRestrictedCommonShares
Restricted Common shares, at per share         $ 0.03fil_RestrictedCommonSharesAtPerShare1 $ 0.01fil_RestrictedCommonSharesAtPerShare1
Debt owed to the Creditors           $ 260,000fil_DebtOwedToTheCreditors
Chairman exchanged of debt for Restricted Common shares           200,000fil_ChairmanExchangedOfDebtForRestrictedCommonShares
Director exchanged of debt for one (1) million Restricted Common shares           10,000fil_DirectorExchangedOfDebtForOne1MillionRestrictedCommonShares
Company exchanged of debt for five (5) million Restricted Common Shares           50,000fil_CompanyExchangedOfDebtForFive5MillionRestrictedCommonShares
Debt Settlement Agreement to exchange six million five hundred thousand Restricted Common shares         6,500,000fil_DebtSettlementAgreementToExchangeSixMillionFiveHundredThousandRestrictedCommonShares  
Debt owed to a company controlled by its Chief Executive Officer $ 200,040fil_DebtOwedToACompanyControlledByItsChiefExecutiveOfficer       $ 195,000fil_DebtOwedToACompanyControlledByItsChiefExecutiveOfficer  
Company sold Restricted Common shares for cash to a non-related party     1,000,000fil_CompanySoldRestrictedCommonSharesForCashToANonRelatedParty      
Company sold Restricted Common shares for cash to a non-related party per share     $ 0.025fil_CompanySoldRestrictedCommonSharesForCashToANonRelatedPartyPerShare      
Company sold Restricted Common shares for cash to a non-related party value     25,000fil_CompanySoldRestrictedCommonSharesForCashToANonRelatedPartyValue      
SnooGoo Corp to increase the authorized Common Shares   250,000,000fil_SnoogooCorpToIncreaseTheAuthorizedCommonShares        
SnooGoo Corp to increase the par value   $ 0.001fil_SnoogooCorpToIncreaseTheParValue        
Debt Settlement Agreement to exchange six million six hundred and sixty eight thousand Restricted Common shares 6,668,000fil_DebtSettlementAgreementToExchangeSixMillionSixHundredAndSixtyEightThousandRestrictedCommonShares          
Debt Settlement Agreement to exchange six million six hundred and sixty eight thousand Restricted Common shares per share $ 0.03fil_DebtSettlementAgreementToExchangeSixMillionSixHundredAndSixtyEightThousandRestrictedCommonSharesPerShare          
Consulting Agreements with Kenny Consulting, LLC for Restricted Common shares       4,000,000fil_ConsultingAgreementsWithKennyConsultingLlcForRestrictedCommonShares    
Consulting Agreements with Kenny Consulting, LLC for Restricted Common shares per share       $ 0.03fil_ConsultingAgreementsWithKennyConsultingLlcForRestrictedCommonSharesPerShare    
Consulting Agreements Michael Schifsky for Restricted Common shares       500,000fil_ConsultingAgreementsMichaelSchifskyForRestrictedCommonShares    
Consulting Agreements Michael Schifsky for Restricted Common shares per share       $ 0.03fil_ConsultingAgreementsMichaelSchifskyForRestrictedCommonSharesPerShare    
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ARUBA BRANDS CORP STOCK PURCHASE AGREEMENT (DETAILS) (USD $)
Sep. 19, 2013
ARUBA BRANDS CORP STOCK PURCHASE AGREEMENT  
Aruba will acquire Stock purchase agreement 19.90%fil_ArubaWillAcquireStockPurchaseAgreement
Value of Aruba Stock purchase agreement $ 1,500,000fil_ValueOfArubaStockPurchaseAgreement

XML 16 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9
Company entered into a Rescission Agreement (Details) (USD $)
Dec. 12, 2012
Aug. 30, 2012
Company entered into a Rescission Agreement    
Issuances of restricted Common shares 150,000fil_IssuancesOfRestrictedCommonShares 300,000fil_IssuancesOfRestrictedCommonShares
The Company reversed the originally recorded in the quarters $ 33,000fil_TheCompanyReversedTheOriginallyRecordedInTheQuarters $ 72,000fil_TheCompanyReversedTheOriginallyRecordedInTheQuarters
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Interest Bearing Loans To Non Related Parties As Follows (Tables)
12 Months Ended
Dec. 31, 2014
Interest Bearing Loans To Non Related Parties As Follows  
Interest Bearing Loans To Non Related Parties As Follows
                                                  December 31,      December 31,
                                                     2014              2013
                                                   --------          --------
Interest bearing to Related and
Non-Related Parties:
  Related Party - principal                        $ 24,900          $ 24,900
                cumulative interest accrued           4,049             2,849
  Non-Related Party - principal                      50,000            50,000
                cumulative interest accrued           4,932                --
                                                   --------          --------
      Total                                        $ 83,881          $ 77,749
                                                   ========          ========
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Non Interest bearing loans Related party transactions (Details) (USD $)
Jun. 24, 2013
May 30, 2012
May 21, 2012
May 17, 2012
Apr. 18, 2012
Feb. 03, 2012
Jan. 28, 2011
Non Interest bearing loans Related party transactions              
Loan by related party to the company   $ 38,250fil_LoanByRelatedPartyToTheCompany $ 12,000fil_LoanByRelatedPartyToTheCompany $ 4,000fil_LoanByRelatedPartyToTheCompany $ 38,000fil_LoanByRelatedPartyToTheCompany $ 27,000fil_LoanByRelatedPartyToTheCompany $ 27,000fil_LoanByRelatedPartyToTheCompany
Non-Interest Bearing Loans of the Chairman into restricted Common Shares of the Company 4,850fil_NonInterestBearingLoansOfTheChairmanIntoRestrictedCommonSharesOfTheCompany         0fil_NonInterestBearingLoansOfTheChairmanIntoRestrictedCommonSharesOfTheCompany 0fil_NonInterestBearingLoansOfTheChairmanIntoRestrictedCommonSharesOfTheCompany
Non-Interest Bearing Loans of the Vice President into restricted Common Shares of the Company $ 42,000fil_NonInterestBearingLoansOfTheVicePresidentIntoRestrictedCommonSharesOfTheCompany   $ 0fil_NonInterestBearingLoansOfTheVicePresidentIntoRestrictedCommonSharesOfTheCompany       $ 0fil_NonInterestBearingLoansOfTheVicePresidentIntoRestrictedCommonSharesOfTheCompany
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Related Party Transactions Loan from Chairman of the Board (Details) (USD $)
Jun. 24, 2012
May 30, 2012
May 21, 2012
May 17, 2012
Apr. 18, 2012
Apr. 11, 2012
Related Party Transactions Loan from Chairman of the Board            
Loan from Chairman of the Board   $ 38,250fil_LoanFromChairmanOfTheBoard $ 12,000fil_LoanFromChairmanOfTheBoard      
Shares issued to Vice President for the services rendered and expensed           250,000fil_SharesIssuedToVicePresidentForTheServicesRenderedAndExpensed
Per share value of the shares issued $ 0.06fil_PerShareValueOfTheSharesIssued         $ 0.18fil_PerShareValueOfTheSharesIssued
Non interest bearing Loan by Vice President       4,000fil_NonInterestBearingLoanByVicePresident 38,000fil_NonInterestBearingLoanByVicePresident  
Total of the amounts converted in to shares $ 662,000fil_TotalOfTheAmountsConvertedInToShares          
Total of the shares issued on conversion 11,033,333fil_TotalOfTheSharesIssuedOnConversion          
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STOCK PURCHASE AGREEMENT ( DETAILS) (USD $)
Apr. 03, 2014
STOCK PURCHASE AGREEMENT  
Stock Purchase Agreement with an investor group for a total amount $ 10,000,000fil_StockPurchaseAgreementWithAnInvestorGroupForATotalAmount
For $5 million of the total, the investor will receive restricted Common shares 40.00%fil_For5MillionOfTheTotalTheInvestorWillReceiveRestrictedCommonShares1
Investor will loan the Company $ 5,000,000fil_InvestorWillLoanTheCompany
Payment of interest 6.00%fil_PaymentOfInterest
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GOING CONCERN
12 Months Ended
Dec. 31, 2014
GOING CONCERN  
GOING CONCERN
2. GOING CONCERN
The Company incurred net losses of $4,537,713 for the period from September 26,
2006 (Date of Inception) through December 31, 2014 and has commenced limited
operations, raising substantial doubt about the Company's ability to continue as
a going concern. The Company plans to continue to sell its restricted Common
shares for cash and services and borrow from its directors, officers, related
and non-related parties, reduce its cash expenses and continue to raise
sufficient equity capital for cash, but there can be no assurance the Company
will be successful in raising the equity capital for cash. The ability of the
Company to continue as a going concern is dependent on receiving sufficient
sources of cash equity capital and the success of the Company's plan. The
financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern.
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The amounts of all non-interest bearing loans outstanding at December 31, 2014 and December 31, 2013 (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Non-interest bearing to Loans:    
Non-Officer/Director $ 22,000fil_NonOfficerDirector $ 22,000fil_NonOfficerDirector
Chairman Of Board and Officer 4,850fil_ChairmanOfBoardAndOfficer1 4,850fil_ChairmanOfBoardAndOfficer1
Total $ 26,850fil_Total1 $ 26,850fil_Total1
XML 25 R29.htm IDEA: XBRL DOCUMENT v2.4.1.9
STOCK-BASED COMPENSATION (DETAILS)
Dec. 31, 2014
Dec. 31, 2013
STOCK-BASED COMPENSATION {1}    
Restricted Common shares 0fil_RestrictedCommonShares2 600,000fil_RestrictedCommonShares2
Closing price of the Company's Common shares 0fil_ClosingPriceOfTheCompanySCommonShares 600,000fil_ClosingPriceOfTheCompanySCommonShares
XML 26 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Basic net loss per share Computation (Details) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Basic net loss per share Computation    
The basic and diluted net loss per share $ 0.00fil_TheBasicAndDilutedNetLossPerShare1 $ (0.01)fil_TheBasicAndDilutedNetLossPerShare1
Net Loss used for calculation of net loss per share $ (280,708)fil_NetLossUsedForCalculationOfNetLossPerShare $ (601,002)fil_NetLossUsedForCalculationOfNetLossPerShare
The Weighted Average Number of Common shares used in per share calculations $ 94,448,130fil_TheWeightedAverageNumberOfCommonSharesUsedInPerShareCalculations $ 76,512,135fil_TheWeightedAverageNumberOfCommonSharesUsedInPerShareCalculations
XML 27 R44.htm IDEA: XBRL DOCUMENT v2.4.1.9
Interest bearing loans outstanding at December 31, 2014 and 2013 (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Interest bearing to Related and Non-Related Parties:    
Related Party - principal $ 24,900fil_RelatedPartyPrincipal $ 24,900fil_RelatedPartyPrincipal
cumulative interest accrued 4,932fil_CumulativeInterestAccrued2 0fil_CumulativeInterestAccrued2
Non-Related Party - principal 50,000fil_NonRelatedPartyPrincipal2 50,000fil_NonRelatedPartyPrincipal2
Total $ 83,881fil_Total2 $ 77,749fil_Total2
XML 28 R30.htm IDEA: XBRL DOCUMENT v2.4.1.9
Going Concern Net losses (Details) (USD $)
99 Months Ended
Dec. 31, 2014
Going Concern Net losses  
Net losses from inception $ 4,537,713fil_NetLossesFromInception
XML 29 R31.htm IDEA: XBRL DOCUMENT v2.4.1.9
Intangibles Contract Rights (Details) (USD $)
Dec. 31, 2010
Intangibles Contract Rights  
Asset contract rights (impaired and expensed the full amount) $ 18,379fil_AssetContractRightsImpairedAndExpensedTheFullAmount
XML 30 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING
12 Months Ended
Dec. 31, 2014
DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING  
DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING
1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY - Snoogoo Corporation
(formerly Casey Container Corp. and formerly Sawadee Ventures Inc.), a Nevada
corporation, (hereinafter referred to as the "Company" or "Snoogoo Corp") was
incorporated in the State of Nevada on September 26, 2006. The Company's
year-end is December 31. The Company was originally formed in 2006 to engage in
the acquisition, exploration and development of natural resource properties of
merit.
Effective January 6, 2010 Ms. Rachna Khanna tendered her resignation as the
President, CEO, CFO and Director. Effective January 12, 2010, James Casey, Terry
Neild and Robert Seaman were appointed as Directors of the Company. Mr. Casey
was elected President, Mr. Terry Neild was elected Chief Executive Officer,
Chief Financial Officer and Secretary and Mr. Seaman was elected Vice
President-Operations.
Effective January 12, 2010, the Company's Certificate of Incorporation was
changed and the name of the Company was changed to Casey Container Corp.
("Casey"). Casey designs and will custom manufacture biodegradable PET and other
polymer plastic preforms that become PET and other polymer plastic bottles and
containers, for such product lines as bottled water, bottled beverages and other
consumer products. Casey has a non-exclusive supply and license agreement with
Bio-Tec Environmental, LLC. Casey currently is considered a "shell" company
inasmuch as it is not in production and has no revenues, employees or material
assets.
Effective February 7, 2011, Martin R. Nason was elected President, Chief
Executive Officer and Chief Financial Officer. Mr. Neild remained Chairman of
the Board of Directors and Secretary, Mr. Casey as Vice President of Technical
Services and Sales and Mr. Seaman as Vice President Manufacturing. On January
31, 2014, Mr. Seaman resigned and Mr. Nason was elected as a Director.
On January 9, 2015 the Board Of Directors approved a Letter Of Understanding and
Term Sheet to purchase the assets, including, but not limited to patents,
intellectual property rights, logos and commercial symbols relating to an
Information Network technology software.
On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively,
resigned as Members of the Board Of Directors, which was approved by the
remaining Board Members on January 20, 2015. Mr. Nason remained as its Chief
Executive Officer, President and Chief Financial Officer.
On February 9, 2015, the Board of Directors of the Company resolved and approved
to change the Company's name to SnooGoo Corp. and to increase the authorized
Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par
value and on February 10, 2015, a Certificate of Amendment was accordingly filed
with the State of Nevada and the Company received a Nevada State Business
License for SnooGoo Corp. on February 11, 2015. On February 11, the Company
signed an Asset Purchase Agreement relative to the Letter Of Understanding and
Term Sheet per January 9, 2015 above, taking the Company in a completely new
business direction. The Company no longer will no pursue its previous business
venture in the biodegradable plastic industry. The Company filed for trademark
registration of the Snoogoo name and logo as identifying marks of the Snoogoo
Software products and Apps, including all applications (see Note 13, "Subsequent
Events").
BASIS OF PRESENTATION - In the opinion of management, the accompanying balance
sheets and related statements of operations, cash flows and stockholders' equity
include all adjustments, consisting only of normal recurring items, necessary
for their fair presentation in conformity with accounting principles generally
accepted in the United States of America ("U.S. GAAP"). Preparing financial
statements requires management to make estimates and assumptions that affect the
reported amounts of assets, liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amount of
revenue and expenses during the reporting period. Actual results and outcomes
may differ from managements' estimates and assumptions.
CASH AND CASH EQUIVALENTS - The Company considers all highly liquid investments
with maturity of three months or less to be cash equivalents.
INCOME TAXES - The Company accounts for its income taxes by recognizing deferred
tax assets and liabilities for future tax consequences attributable to
differences between the financial statement carrying amounts of existing assets
and liabilities and their respective tax basis and tax credit carry forwards.
Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect on deferred tax
assets and liabilities of a change in tax rates is recognized in operations in
the period that includes the enactment date.
The Company has net operating loss carryovers of $4,537,713 and $4,257,005 for
the years ended December 31, 2014 and 2013 respectively, to be used to reduce
future year's taxable income. The Company has recorded a valuation allowance for
the full potential tax benefit of the operating loss carryovers due to the
uncertainty regarding realization.
                                                 December 31,      December 31,
                                                     2014              2013
                                                 ------------      ------------
Net operating loss carryovers                    $  4,537,713      $  4,257,005
                                                 ============      ============
Effective tax deferred asset (30% tax rate)      $  1,361,314      $  1,277,101
Impairment of tax deferred asset                 $ (1,361,314)     $ (1,277,101)
                                                 ------------      ------------
Net tax deferred asset                           $          0      $          0
                                                 ============      ============
NET LOSS PER COMMON SHARE - Basic net loss per share is computed by dividing the
net loss available to common stockholders for the period by the weighted average
number of shares of common stock outstanding during the period. The calculation
of diluted net loss per share gives effect to common stock equivalents; however,
potential common shares are excluded if their effect is anti-dilutive. For the
period from September 26, 2006 (Date of Inception) through December 31, 2014,
the Company had no potentially dilutive securities. The basic and diluted net
loss per share was $(0.00) and $(0.01) for the years ended December 31, 2014 and
2013, respectively. For the years ended December 31, 2014 and 2013 the Net Loss
was $(280,708) and $(601,002), respectively. For the years ended December 31,
2014 and 2013, the Weighted Average Number of Common shares used in per share
calculations was 94,448,130 and 76,512,135 respectively.
STOCK-BASED COMPENSATION - The Company has not adopted a stock option plan. In
the years ended December 31, 2014 and 2013, the Company issued none and 600,000
Restricted Common shares with a value of none and $60,000 respectively, which
represented the closing price of the Company's Common shares on the date of each
issuance.
REVENUE RECOGNITION - The Company recognizes revenue when the following four
revenue recognition criteria are met (1) persuasive evidence of an arrangement
that exists; (2) delivery has occurred or services have been provided; (3) the
selling price is fixed or determinable and (4) collectability is reasonably
assured.
LONG-LIVED ASSETS - The carrying value of intangible assets and other long-lived
assets is reviewed on a regular basis for the existence of facts or
circumstances that may suggest impairment. The Company recognizes impairment
when the sum of the expected undiscounted future cash flows is less than the
carrying amount of the asset. Impairment losses, if any, are measured as the
excess of the carrying amount of the asset over its estimated fair value.
FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair value estimates discussed herein are
based upon certain market assumptions and pertinent information available to
management, as of December 31, 2014 and 2013. These financial instruments
include cash, prepaid expenses and accounts payable. Fair values were assumed to
approximate carrying values for cash and payables because they are short term in
nature and their carrying amounts approximate fair values or they are payable on
demand.
Level 1: The preferred inputs to valuation efforts are "quoted prices in active
markets for identical assets or liabilities," with the caveat that the reporting
entity mush have access to that market. Information at this level is based on
direct observations of transactions involving the same assets and liabilities,
not assumptions, and thus offers superior reliability. However, relatively few
items, especially physical assets, actual trade in active markets.
Level 2: The Financial Accounting Standards Board ("FASB") acknowledged that
active markets for identical assets and liabilities are relatively uncommon and,
even when they do exist, they may be too thin to provide reliable information.
To deal with this shortage of direct data, FASB provided a second level of
inputs that can be applied in three situations.
Level 3: If inputs from Levels 1 and 2 are not available, FASB acknowledges that
fair value measures of many assets and liabilities are less precise. FASB
describes Level 3 inputs as "unobservable," and limits their use by saying they
"shall be used to measure fair value to the extent that observable inputs are
not available." This category allows "for situations in which there is little,
if any, market activity for the asset or liability at the measurement date."
Earlier in the standard, FASB explains that "observable inputs" are gathered
from sources other than the reporting company and that they are expected to
reflect assumptions made my market participants.
RECENT ACCOUNTING PRONOUNCEMENTS - FASB issues various Accounting Standards
Updates relating to the treatment and recording of certain accounting
transactions. On June 10, 2014, the Financial Accounting Standards Board issued
Accounting Standards Update (ASU) No. 2014-10, DEVELOPMENT STAGE ENTITIES (TOPIC
915) - ELIMINATION OF CERTAIN FINANCIAL REPORTING REQUIREMENTS, INCLUDING AN
AMENDMENT TO VARIABLE INTEREST ENTITIES GUIDANCE IN TOPIC 810, CONSOLIDATION,
which eliminates the concept of a development stage entity (DSE) entirely from
current accounting guidance. The Company has elected adoption of this standard,
which eliminates the designation of DSEs and the requirement to disclose results
of operations and cash flows since inception.
XML 31 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
Shares Preferred and Common Stock (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Stockholders Equity Shares Preferred and Common Stock    
Preferred Stock authorized shares 10,000,000fil_PreferredStockAuthorizedShares 10,000,000fil_PreferredStockAuthorizedShares
Preferred Stock shares Par value $ 0.001fil_PreferredStockSharesParValue $ 0.001fil_PreferredStockSharesParValue
Common stock authorized shares 250,000,000fil_CommonStockAuthorizedShares 250,000,000fil_CommonStockAuthorizedShares
Common stock shares Par value $ 0.001fil_CommonStockSharesParValue1 $ 0.001fil_CommonStockSharesParValue1
Common stock issued shares 94,771,701fil_CommonStockIssuedShares 92,700,034fil_CommonStockIssuedShares
Common stock outstanding shares 94,771,701fil_CommonStockOutstandingShares 92,700,034fil_CommonStockOutstandingShares
XML 32 R40.htm IDEA: XBRL DOCUMENT v2.4.1.9
Unpaid expenses and fees (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Unpaid expenses and fees    
Company officers for unpaid expenses and fees $ 599,287fil_CompanyOfficersForUnpaidExpensesAndFees $ 425,379fil_CompanyOfficersForUnpaidExpensesAndFees
XML 33 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Balance Sheets (Expressed in U.S. Dollars) (Audited) (USD $)
Dec. 31, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash $ 85us-gaap_Cash $ 74us-gaap_Cash
Total Current Assets 85us-gaap_AssetsCurrent 74us-gaap_AssetsCurrent
Total Assets 85us-gaap_Assets 74us-gaap_Assets
CURRENT LIABILITIES    
Accounts Payable and Accrued Liabilities, 172,624us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 157,145us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Interest and Non-interest Bearing Loans From Related Parties 33,800fil_InterestAndNonInterestBearingLoansFromRelatedParties 4,850fil_InterestAndNonInterestBearingLoansFromRelatedParties
Interest and non Interest Bearing Loans, 76,931fil_InterestAndNonInterestBearingLoans 99,749fil_InterestAndNonInterestBearingLoans
Due to Related Parties, 599,287us-gaap_DueToRelatedPartiesCurrent 425,379us-gaap_DueToRelatedPartiesCurrent
Total Current Liabilities 882,642us-gaap_LiabilitiesCurrent 687,123us-gaap_LiabilitiesCurrent
STOCKHOLDERS' EQUITY    
Preferred Stock 10,000,000 authorized, par value $0.001, 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common Stock 250,000,000 authorized shares, par value $0.001 94,771,701 and 92,700,034 shares issued and outstanding at December 31, 2014 and December 31, 2013 94,772us-gaap_CommonStockValue 92,700us-gaap_CommonStockValue
Additional Paid-in-Capital 3,560,384us-gaap_AdditionalPaidInCapital 3,477,256us-gaap_AdditionalPaidInCapital
Deficit (4,537,713)us-gaap_DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage (4,257,005)us-gaap_DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
Total Stockholders' Equity (882,557)us-gaap_StockholdersEquity (687,049)us-gaap_StockholdersEquity
Total Liabilities and Stockholders' Equity $ 85us-gaap_LiabilitiesAndStockholdersEquity $ 74us-gaap_LiabilitiesAndStockholdersEquity
XML 34 R45.htm IDEA: XBRL DOCUMENT v2.4.1.9
INTEREST BEARING LOAN nonrelated party Consists Of the Following (Details) (USD $)
Sep. 30, 2012
Aug. 27, 2012
Aug. 19, 2011
Aug. 12, 2011
INTEREST BEARING LOAN nonrelated party Consists Of the Following        
Interest bearing Promissory Note   $ 40,000fil_InterestBearingPromissoryNote $ 15,000fil_InterestBearingPromissoryNote $ 15,000fil_InterestBearingPromissoryNote
Interest bearing Promissory Note rate per annum   10.00%fil_InterestBearingPromissoryNoteRatePerAnnum 8.00%fil_InterestBearingPromissoryNoteRatePerAnnum 8.00%fil_InterestBearingPromissoryNoteRatePerAnnum
One time financing fee on Promissory Note   10,000fil_OneTimeFinancingFeeOnPromissoryNote   9,900fil_OneTimeFinancingFeeOnPromissoryNote
Amount payable after ninety days $ 50,000fil_AmountPayableAfterNinetyDays      
XML 35 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Statements of Cash Flows (Expressed in U.S. Dollars) (Audited) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:    
Net Loss $ (280,708)us-gaap_ProfitLoss $ (601,002)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Expenses paid on our behalf by Related Parties 237,580fil_ExpensesPaidOnOurBehalfByRelatedParties 510,625fil_ExpensesPaidOnOurBehalfByRelatedParties
Stock issued for services to Non-Officer Board Members 0fil_StockIssuedForServicesToNonOfficerBoardMembers 60,000fil_StockIssuedForServicesToNonOfficerBoardMembers
Stock issued for services to Non-Related Party 0fil_StockIssuedForServicesToNonRelatedParty 91,500fil_StockIssuedForServicesToNonRelatedParty
Stock issued to Non-Related Party for conversion of accounts payable 20,200fil_StockIssuedToNonRelatedPartyForConversionOfAccountsPayable 80,000fil_StockIssuedToNonRelatedPartyForConversionOfAccountsPayable
Accounts payables and loans due to Related Parties converted into stock 50,000fil_AccountsPayablesAndLoansDueToRelatedPartiesconvertedIntoStock 0fil_AccountsPayablesAndLoansDueToRelatedPartiesconvertedIntoStock
Stock cancelled due to rescission of agreements 0fil_StockCancelledDueToRescissionOfAgreements (105,000)fil_StockCancelledDueToRescissionOfAgreements
Finance and interest charges added to loan payable 6,132us-gaap_AmortizationOfFinancingCostsAndDiscounts 776us-gaap_AmortizationOfFinancingCostsAndDiscounts
Accounts payable and accrued liabilities 15,479us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 53,646us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net Cash Provided from Operating Activities 48,683us-gaap_NetCashProvidedByUsedInOperatingActivities 90,545us-gaap_NetCashProvidedByUsedInOperatingActivities
FINANCING ACTIVITIES:    
Repayment of Related party expenses paid on our behalf (63,672)fil_RepaymentOfRelatedPartyExpensesPaidOnOurBehalf (118,843)fil_RepaymentOfRelatedPartyExpensesPaidOnOurBehalf
Non-interest bearing loan from Related Party 28,950fil_NonInterestBearingLoanFromRelatedParty 4,850fil_NonInterestBearingLoanFromRelatedParty
Repayment of loan payable (28,950)us-gaap_RepaymentsOfRelatedPartyDebt 0us-gaap_RepaymentsOfRelatedPartyDebt
Common stock issued and issuable for cash 15,000us-gaap_ProceedsFromIssuanceOfCommonStock 20,000us-gaap_ProceedsFromIssuanceOfCommonStock
Net Cash Provided from Financing Activities (48,672)us-gaap_NetCashProvidedByUsedInFinancingActivities (93,993)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net Increase (Decrease) in Cash 11us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (3,448)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash, Beginning of the Period. 74fil_BeginCash 3,522fil_BeginCash
Cash, End of the Period 85us-gaap_CashAndCashEquivalentsAtCarryingValue 74us-gaap_CashAndCashEquivalentsAtCarryingValue
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0us-gaap_InterestPaid 0us-gaap_InterestPaid
Cash paid for income taxes 0us-gaap_IncomeTaxesPaidNet 0us-gaap_IncomeTaxesPaidNet
NON CASH ACTIVITIES:    
Expenses incurred on our behalf and loans from Related Parties exchanged for 1,250,000, 5,000,000, 3,800,000, and 11,033,333 Common shares on January 31, 2014, December 17, 2013, October 25, 2013, and June 24, 2013 $ 50,000fil_ExpensesIncurredOnOurBehalfAndLoansFromRelatedPartiesExchanged $ 1,090,000fil_ExpensesIncurredOnOurBehalfAndLoansFromRelatedPartiesExchanged
XML 36 R35.htm IDEA: XBRL DOCUMENT v2.4.1.9
Capital Stock Transactions during the period as follows (Details) (USD $)
Jun. 24, 2013
May 20, 2013
Apr. 17, 2013
Feb. 13, 2013
Jan. 15, 2013
Capital Stock Transactions during the period as follows          
Rescission Agreement regarding issuances restricted Common shares     300,000fil_RescissionAgreementRegardingIssuancesRestrictedCommonShares   300,000fil_RescissionAgreementRegardingIssuancesRestrictedCommonShares
Restricted Common shares,     600,000fil_RestrictedCommonShares   150,000fil_RestrictedCommonShares
Signed a Consulting Agreement and issued a total       450,000fil_SignedAConsultingAgreementAndIssuedATotal  
Restricted Common shares at per share   $ 0.05fil_RestrictedCommonSharesAtPerShare $ 0.1fil_RestrictedCommonSharesAtPerShare $ 0.15fil_RestrictedCommonSharesAtPerShare  
Expensed in the quarter       $ 67,500fil_ExpensedInTheQuarter  
Issue of restricted Common shares for a Debt Settlement agreement 11,033,333fil_IssueOfRestrictedCommonSharesForADebtSettlementAgreement 1,000,000fil_IssueOfRestrictedCommonSharesForADebtSettlementAgreement      
Accounts Payable exchanged under Debt Settlement agreement 662,000fil_AccountsPayableExchangedUnderDebtSettlementAgreement 50,000fil_AccountsPayableExchangedUnderDebtSettlementAgreement      
Percentage of discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB. 14.30%fil_PercentageOfDiscountFromTheClosingPriceOfTheCompanySFreelyTradedCommonSharesOf007OnTheOTCBB 28.60%fil_PercentageOfDiscountFromTheClosingPriceOfTheCompanySFreelyTradedCommonSharesOf007OnTheOTCBB      
The Company reversed consulting and investor relations service agreements originally recorded in the third quarter of 2012         72,000fil_TheCompanyReversedConsultingAndInvestorRelationsServiceAgreementsOriginallyRecordedInTheThirdQuarterOf2012
The Company reversed consulting and investor relations service agreements originally recorded in the third quarter of 2013     $ 60,000fil_TheCompanyReversedConsultingAndInvestorRelationsServiceAgreementsOriginallyRecordedInTheThirdQuarterOf2013   $ 33,000fil_TheCompanyReversedConsultingAndInvestorRelationsServiceAgreementsOriginallyRecordedInTheThirdQuarterOf2013
XML 37 R22.htm IDEA: XBRL DOCUMENT v2.4.1.9
Deferred TAX Asset (Table)
12 Months Ended
Dec. 31, 2014
Deferred TAX Asset  
Deferred TAX Asset
                                                 December 31,      December 31,
                                                     2014              2013
                                                 ------------      ------------
Net operating loss carryovers                    $  4,537,713      $  4,257,005
                                                 ============      ============
Effective tax deferred asset (30% tax rate)      $  1,361,314      $  1,277,101
Impairment of tax deferred asset                 $ (1,361,314)     $ (1,277,101)
                                                 ------------      ------------
Net tax deferred asset                           $          0      $          0
                                                 ============      ============
XML 38 R36.htm IDEA: XBRL DOCUMENT v2.4.1.9
Debt Settlement Agreement (Details) (USD $)
Apr. 10, 2014
Apr. 04, 2014
Apr. 03, 2014
Jan. 31, 2014
Dec. 17, 2013
Debt Settlement Agreement          
Restricted Common shares issued to Chief Executive Officer and President         5,000,000fil_RestrictedCommonSharesIssuedToChiefExecutiveOfficerAndPresident
Restricted Common shares per share       $ 0.04fil_RestrictedCommonSharesPerValue1 $ 0.04fil_RestrictedCommonSharesPerValue1
Restricted common shares total value       $ 50,000fil_RestrictedCommonSharesTotalValue $ 200,000fil_RestrictedCommonSharesTotalValue
Discount to the closing price of the Company's freely-traded shares on the OTC.BB     33.30%fil_DiscountToTheClosingPriceOfTheCompanySFreelyTradedSharesOnTheOtcBb 33.30%fil_DiscountToTheClosingPriceOfTheCompanySFreelyTradedSharesOnTheOtcBb 33.30%fil_DiscountToTheClosingPriceOfTheCompanySFreelyTradedSharesOnTheOtcBb
Restricted Common shares issued to Aruba Capital Partners Limited, a company owned by its Chairman       1,250,000fil_RestrictedCommonSharesIssuedToArubaCapitalPartnersLimitedACompanyOwnedByItsChairman  
Company sold Restricted Common shares 66,667fil_CompanySoldRestrictedCommonShares 505,000fil_CompanySoldRestrictedCommonShares 25,000fil_CompanySoldRestrictedCommonShares    
Company sold Restricted Common shares per share value $ 0.075fil_CompanySoldRestrictedCommonSharesPerShareValue $ 0.04fil_CompanySoldRestrictedCommonSharesPerShareValue $ 0.04fil_CompanySoldRestrictedCommonSharesPerShareValue    
Accounts payable owed to the vendor   $ 20,200fil_AccountsPayableOwedToTheVendor      
XML 39 R24.htm IDEA: XBRL DOCUMENT v2.4.1.9
Non Interest Bearing Loans.(Tables)
12 Months Ended
Dec. 31, 2014
Non-interest bearing loans  
Non Interest Bearing Loans
                                                  December 31,      December 31,
                                                     2014              2013
                                                   --------          --------
Non-interest bearing to Loans:
  Non-Officer/Director                             $ 22,000          $ 22,000
  Chairman Of Board and Officer                       4,850             4,850
                                                   --------          --------
      Total                                        $ 26,850          $ 26,850
                                                   ========          ========
XML 40 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 41 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Cash Flows Parentheticals (Expressed in U.S. Dollars) (Audited)
12 Months Ended
Jan. 31, 2014
Dec. 17, 2013
Oct. 25, 2013
Jun. 24, 2013
Exchange of shares        
Common stock share exchangedfor expenses incurred 1,250,000fil_CommonStockShareExchangedforExpensesIncurred 5,000,000fil_CommonStockShareExchangedforExpensesIncurred 3,800,000fil_CommonStockShareExchangedforExpensesIncurred 11,033,333fil_CommonStockShareExchangedforExpensesIncurred
XML 42 R3.htm IDEA: XBRL DOCUMENT v2.4.1.9
Balance Sheets Parentheticals (USD $)
Dec. 31, 2014
Dec. 31, 2013
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures    
Preferred Stock, par value $ 0.001us-gaap_PreferredStockParOrStatedValuePerShare $ 0.001us-gaap_PreferredStockParOrStatedValuePerShare
Preferred Stock, shares authorized 10,000,000us-gaap_PreferredStockSharesAuthorized 10,000,000us-gaap_PreferredStockSharesAuthorized
Common Stock, par value $ 0.001us-gaap_CommonStockParOrStatedValuePerShare $ 0.001us-gaap_CommonStockParOrStatedValuePerShare
Common Stock, shares authorized 250,000,000us-gaap_CommonStockSharesAuthorized 250,000,000us-gaap_CommonStockSharesAuthorized
Common Stock, shares issued 94,771,701us-gaap_CommonStockSharesIssued 92,700,034us-gaap_CommonStockSharesIssued
Common Stock, shares outstanding 94,771,701us-gaap_CommonStockSharesOutstanding 92,700,034us-gaap_CommonStockSharesOutstanding
XML 43 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
INTEREST BEARING LOAN
12 Months Ended
Dec. 31, 2014
INTEREST BEARING LOAN  
INTEREST BEARING LOAN
10. INTEREST BEARING LOANS
On August 12 and 19, 2011, a nonrelated party loaned the Company $15,000, in an
interest bearing Promissory Note at 8% per annum and a one-time financing fee of
$9,900. The loan, one-time financing fee and unpaid accrued interest is due upon
the Company's receipt of equity capital from an investor group. The full amounts
are unsecured and not in default.
On August 27, 2012, the Company borrowed $40,000 in a ninety-day non-interest
bearing Promissory Note and a one-time financing fee of $10,000, which was
expensed, from a non-related party. The loans, one-time financing fees and
accrued interest is due upon the Company's receipt of equity capital from an
investor group. The loan is unsecured and has a maturity date of December 31,
2013. The Company has not raised equity capital from any investor group.
On November 17, 2014, the a company controlled by the Chairman assumed an
interest-bearing loan, with principal and cumulative accrued interest totaling
$28,647.08 from a Non-Related Party (see Note 6 "Related Party Transactions).
The amounts of all interest bearing loans outstanding at December 31, 2014 and
2013, respectively, are not in default, are not secured and accrued interest has
been recorded in the respective years, follows:
                                                  December 31,      December 31,
                                                     2014              2013
                                                   --------          --------
Interest bearing to Related and
Non-Related Parties:
  Related Party - principal                        $ 24,900          $ 24,900
                cumulative interest accrued           4,049             2,849
  Non-Related Party - principal                      50,000            50,000
                cumulative interest accrued           4,932                --
                                                   --------          --------
      Total                                        $ 83,881          $ 77,749
                                                   ========          ========
XML 44 R1.htm IDEA: XBRL DOCUMENT v2.4.1.9
Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2014
Mar. 27, 2015
Document and Entity Information    
Entity Registrant Name Snoogoo Corp.  
Entity Trading Symbol SOON  
Document Type 10-K  
Document Period End Date Dec. 31, 2014  
Amendment Flag false  
Entity Central Index Key 0001387998  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   154,939,701dei_EntityCommonStockSharesOutstanding
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 2014  
Document Fiscal Period Focus FY  
Entity Public Float   $ 6,197,588dei_EntityPublicFloat
XML 45 R18.htm IDEA: XBRL DOCUMENT v2.4.1.9
ARUBA BRANDS CORP. STOCK PURCHASE AGREEMENT
12 Months Ended
Dec. 31, 2014
ARUBA BRANDS CORP. STOCK PURCHASE AGREEMENT  
ARUBA BRANDS CORP. STOCK PURCHASE AGREEMENT
11. ARUBA BRANDS CORP. STOCK PURCHASE AGREEMENT
On September 18, 2013, the Company entered into a Stock Purchase Agreement
("Agreement") with Aruba Brands Corp ("Aruba"), whereby Aruba would acquire for
$1.5 million, 19.9% in Restricted Common shares, based upon the total of the
Company's issued and outstanding shares upon completion of the funding of this
Agreement. The Company filed a Form 8-K with the SEC on September 24, 2013. The
funding has not occurred as of December 31, 2014.
XML 46 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Statements of Operations (Expressed in U.S. Dollars) (Audited) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
REVENUES:    
Revenues $ 0us-gaap_SalesRevenueNet $ 0us-gaap_SalesRevenueNet
Total Revenues 0us-gaap_Revenues 0us-gaap_Revenues
Operating Expenses    
General and administrative 274,576us-gaap_GeneralAndAdministrativeExpense 600,226us-gaap_GeneralAndAdministrativeExpense
Total Operating Expenses 274,576us-gaap_OperatingExpenses 600,226us-gaap_OperatingExpenses
Other Expenses    
Interest 6,132us-gaap_InterestExpense 776us-gaap_InterestExpense
Total Other Expenses 6,132us-gaap_OtherExpenses 776us-gaap_OtherExpenses
PROVISION FOR INCOME TAXES:.    
Income Tax Benefit 0us-gaap_IncomeTaxExpenseBenefit 0us-gaap_IncomeTaxExpenseBenefit
Net Income (Loss) for the period $ (280,708)us-gaap_NetIncomeLoss $ (601,002)us-gaap_NetIncomeLoss
Basic and Diluted Earnings Per Common Share. $ 0us-gaap_EarningsPerShareBasicAndDiluted $ (0.01)us-gaap_EarningsPerShareBasicAndDiluted
Weighted Average number of Common Shares used in per share calculations 94,448,130us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 76,512,135us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
XML 47 R12.htm IDEA: XBRL DOCUMENT v2.4.1.9
STOCKHOLDERS' EQUITY
12 Months Ended
Dec. 31, 2014
STOCKHOLDERS' EQUITY  
STOCKHOLDERS' EQUITY
5. STOCKHOLDERS' EQUITY
At December 31, 2014 and 2013, the Company has 10,000,000 Preferred shares
authorized with a par value of $0.001 per share and 250,000,000 Common shares
authorized with a par value of $0.001 per share. At December 31, 2014 and 2013,
the Company had 94,771,701 and 92,700,034 Common shares issued and outstanding,
respectively.
On January 15, 2013, the Company entered into a Rescission Agreement regarding
the August 30, 2012 and December 12, 2012 issuances of 300,000 restricted Common
shares and 150,000 restricted Common shares, respectively, due to the Company's
inability to utilize the Consultant's services as expected during the terms of
each of the two consulting and investor relations service agreements. The
Company reversed the $72,000 and $33,000 originally recorded in the quarters
ending September 30, 2012 and December 31, 2012, respectively.
On February 13, 2013, the Company signed a Consulting Agreement with the same
group and issued a total of 450,000 restricted Common shares at $0.15 per share,
the closing price of the Company's Common shares on the OTC.BB. The Company
expensed $67,500 in the quarter ending March 31, 2013.
On April 17, 2013, the Company signed two Agreements To Serve On Board Of
Directors with two new independent Board of Director members and issued a total
of 600,000 restricted Common shares, 300,000 to each, at $0.10 per share, the
closing price of the Company's common shares on the OTC.BB. The Company expensed
$60,000 in the quarter ending June 30, 2013.
On May 20, 2013, the Company signed a Debt Settlement Agreement and issued
1,000,000 restricted Common shares in exchange for $50,000 in Accounts Payable
due to a creditor, at $0.05 per share, a 28.6% discount from the closing price
of the Company's freely-traded Common shares of $0.07 on the OTC.BB.
On June 24, 2013, the Company signed three Debt Settlement Agreements and issued
a total of 11, 033,333 restricted Common shares in exchange for a total of
$662,000 in amounts Due To Related Parties and Non-Interest Bearing Loans From
Related Parties, of which $92,000 was owed to its Chairman ($41,750 Due to
Related Parties and $50,250 Non-Interest Bearing Loans From Related Parties),
$510,000 was owed to its Chief Executive Officer and President ($510,000 Due To
Related Parties) and $60,000 owed to its Vice President of Sales and Technical
Services ($18,000 in Due To Related Parties and $42,000 in Non-Interest Bearing
Loans From Related Parties). The debt settlement was at $0.06 per share, a 14.3%
discount from the closing price of its freely-traded shares of $0.07 on the
OTC.BB.
On July 20, 2013, the Company sold 400,000 restricted Common shares to
non-related parties at $0.05 per share for cash of $20,000, at a 28.6% discount
from the closing price of the Company's freely-traded Common shares of $0.07 on
the OTC.BB on July 19, 2013.
On July 22, 2013, the Company issued 100,000 restricted Common shares at $0.08
per share, for a total of $8,000, for services from a non-related party
consultant. The $8,000 was expensed in the quarter ending September 30, 2013.
On August 27, 2013, the Company rescinded and canceled 300,000 restricted Common
shares at $0.06 per share, for a total of $18,000, from its Vice President of
Sales and Technical Services, who on June 24, 2013 (see above) signed a Debt
Settlement Agreement for $60,000.
On September 26, 2013, the Company signed a Debt Settlement Agreement with its
Chief Executive Officer and President for 300,000 restricted Common shares at
$0.06 per share, for a total of $18,000, a 25% discount from the closing price
of the Company's freely-traded Common shares of $0.08 on the OTC.BB.
On October 1, 2013, the Company signed a Consulting Agreement with a non-related
party to provide investor relations services, providing for the issuance of
200,000 restricted Common shares at $0.08 per share, for a total of $16,000, the
closing price of the Company's freely-traded Common shares on the OTC.BB and
expensed in the quarter.
On October 25, 2013, the Company signed Debt Settlement Agreements with its
Chairman and Chief Executive Officer and President for 1,300,000 and 2,500,000
restricted Common shares at $0.06 per share, respectively, for a total of
$78,000 and $150,000, respectively, a 33.3% discount from the closing price of
the Company's freely-traded Common shares of $0.09 on the OTC.BB.
On November 26, 2013, the Company signed a Debt Settlement Agreement with a
non-related party consultant for 1,000,000 restricted Common shares at $0.03 per
share, respectively, for a total of $30,000, a 40% discount from the closing
price of the Company's freely-traded Common shares of $0.05 per share on the
OTC.BB.
On December 17, 2013, the Company signed a Debt Settlement Agreement with its
Chief Executive Officer and President for 5,000,000 restricted Common shares at
$0.04 per share for a total of $200,000, a 33.3% discount from the closing price
of the Company's freely-traded Common shares of $0.06 per share on the OTC.BB.
On January 31, 2014, the Company signed a Debt Settlement Agreement with Aruba
Capital Partners Limited, a company owned by its Chairman, whereby 1,250,000
Restricted Common shares at $0.04 per share were issued in exchange for $50,000
of unpaid expenses incurred on behalf of the Company and a non-interest bearing
loan made to the Company, which represents a 33.3% discount to the closing price
of the Company's freely-traded shares on the OTC.BB (see Note 6 "Related Party
Transactions:).
On April 3, 2014, the Company sold 250,00 Restricted Common shares at $0.04 per
share for cash to a non-related party who's also a vendor (see April 4, 2014
transaction below), which represents a 33.3% discount to the closing price of
$0.06 per share of the Company's freely-traded shares on the OTC.BB.
On April 4, 2014, the Company signed a Debt Settlement Agreement with a
non-related vendor, whereby the Company issued 505,000 Restricted Common shares
at $0.04 per share in exchange for $20,200 of accounts payable owed to the
vendor, which represents a 33.3% discount to the closing price of $0.06 per
share of the Company's freely-traded shares on the OTC.BB.
On April 10, 2014, the Company sold 66,667 Restricted Common shares at $0.075
per share for cash to a non-related party, which represents a 25% discount to
the closing price of $0.10 per share of the Company's freely-traded shares on
the OTC.BB.
XML 48 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
INTANGIBLES
12 Months Ended
Dec. 31, 2014
INTANGIBLES  
INTANGIBLES
4. INTANGIBLES
The Company's accounting policy for Long-Lived Assets requires it to review on a
regular basis for facts or circumstances that may suggest impairment. The
Company recorded an asset Contract Rights for $18,379 as disclosed in Note 5
Stockholders' Equity at December 31, 2010. The Product Purchase Agreement
("PPA") is between the Company and Taste of Aruba (U.S.), Inc., a related party
(see Note 5 "Stockholders' Equity" and Note 6 "Related Party Transactions"). The
PPA does not provide a performance guaranty to purchase the Company's products.
If there isn't substantial performance the Company's option would be to seek
damages in a lawsuit, but there is no guaranty damages would be awarded or that
any awarded damages would be collected. The Company determined the Contract
Rights are impaired and expensed the full amount of $18,379 in 2010.
XML 49 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
Related Party Transactions Amounts Outstanding (Tables)
12 Months Ended
Dec. 31, 2014
Related Party Transactions Amounts Outstanding  
Related Party Transactions Amounts Outstanding
                                                  December 31,      December 31,
                                                     2014              2013
                                                   --------          --------
Unpaid expenses and fees to Officers/Directors     $599,287          $425,379
                                                   --------          --------
Non-interest and interest bearing loans to
 Related Parties:
   Chairman Of Board and Officer                   $ 33,800          $  4,850
                                                   ========          ========
XML 50 R19.htm IDEA: XBRL DOCUMENT v2.4.1.9
STOCK PURCHASE AGREEMENT
12 Months Ended
Dec. 31, 2014
STOCK PURCHASE AGREEMENT  
STOCK PURCHASE AGREEMENT
12. STOCK PURCHASE AGREEMENT
On April 3, 2014, the Company approved and signed a Stock Purchase Agreement
dated March 24, 2014 with an investor group for a total amount of $10 million.
For $5 million of the total, the investor will receive Restricted Common shares
equal to forty percent (40%) of the total number of Common shares issued and
outstanding on the date of funding and the investor would loan the Company $5
million at 6%, to be paid over a period of years, with a payment grace period of
interest and principal until January 1, 2016. The Company filed a Form 8-K with
the SEC on April 14, 2014. No funding has been received as of December 31, 2014
and the Company deems the transaction terminated.
XML 51 R15.htm IDEA: XBRL DOCUMENT v2.4.1.9
ADVERTISING
12 Months Ended
Dec. 31, 2014
ADVERTISING  
ADVERTISING
8. ADVERTISING
The Company expenses its advertising, which includes investor relations
services, as General and Administrative expenses, as incurred. The Company
incurred $ 6,425 and $21,000 as of December 31, 2014 and 2013, respectively.
XML 52 R13.htm IDEA: XBRL DOCUMENT v2.4.1.9
RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2014
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS
6. RELATED PARTY TRANSACTIONS
As of December 31, 2014 and 2013, $599,287 and $425,379 respectively is due to
Company officers for unpaid expenses and fees.
On January 28, 2011, a related party loaned the Company $20,000 in a
non-interest bearing note (see "Note 9 "Non-Interest Bearing Loans"). On
February 3, 2012, a related party made a non-interest bearing loan of $7,000, of
which $5,000 was repaid on May 23, 2012. See October 1, 2013 transaction below.
On May 21 and 30, 2012, the Chairman of the Board loaned the Company $12,000 and
$38,250, respectively, in a non-interest bearing loan.
On April 18 and May 17, 2012, a Vice President loaned the Company $38,000 and
$4,000, respectively, in a non-interest bearing loan (see Note 9, "Non-Interest
Bearing Loans").
On March 5, 2013, the Company borrowed $4,850 in a non-interest bearing loan
from a firm controlled by the Chairman of the Board.
On June 24, 2013, the Chairman, Chief Executive Officer and President and the
Vice President Sales and Technical Services signed Debt Settlements Agreements,
converting $92,000, $510,000 and $60,000 (reduced by $18,000 on August 27,
2013), respectively, of unpaid expenses, fees and loans into 1,533,333,
8,500,000 and 1,000,000, respectively of restricted Common Shares (see Note 5
"Stockholders' Equity") at $0.06 per share. On June 24, 2013, the closing price
of the Company's freely-traded shares on the OTC.BB was $0.07 per share,
representing a 14.3% discount. A Form 8-K was filed by the Company on July 1,
2013. The amounts outstanding to Related Parties at December 31, 2014 and 2013
are unsecured.
On October 1, 2013, a previously classified Related Party whom the Company owes
$22,000 in a non-interest bearing loan is no longer deemed a Related Party (see
Note 9 "Non-Interest Bearing Loans"), since the party ceased to be involved in
any and all of the Company's business affairs.
On January 31, 2014, the Chairman signed a Debt Settlement Agreement, converting
$50,000, respectively of unpaid expenses and loans into 1,250,000 Restricted
Common shares (see Note 5 Stockholders' Equity") at $0.04 per share,
representing a 33.3% discount to the closing price of the freely-traded shares
on the OTC.BB.
On November 17, 2014, the Chairman assumed an interest-bearing loan of
$28,647.08 from a Non-Related Party.
The amounts of all expenses paid on behalf of the Company by Officers/Directors
and non-interest bearing loans outstanding at December 31, 2014 and December 31,
2013, respectively, are to Related Parties and are all unsecured.
                                                  December 31,      December 31,
                                                     2014              2013
                                                   --------          --------
Unpaid expenses and fees to Officers/Directors     $599,287          $425,379
                                                   --------          --------
Non-interest and interest bearing loans to
 Related Parties:
   Chairman Of Board and Officer                   $ 33,800          $  4,850
                                                   ========          ========
XML 53 R14.htm IDEA: XBRL DOCUMENT v2.4.1.9
STOCK OPTIONS
12 Months Ended
Dec. 31, 2014
STOCK OPTIONS  
STOCK OPTIONS
7. STOCK OPTIONS
At December 31, 2014 and 2013, the Company does not have any stock options
outstanding, nor does it have any written or verbal agreements for the issuance
or distribution of stock options at any point in the future.
XML 54 R16.htm IDEA: XBRL DOCUMENT v2.4.1.9
NON-INTEREST BEARING LOANS
12 Months Ended
Dec. 31, 2014
NON-INTEREST BEARING LOANS  
NON-INTEREST BEARING LOANS
9. NON-INTEREST BEARING LOANS
On January 28, 2011 and February 3, 2012, Auspice Capital, a former related
party loaned the Company $27,000 in non-interest bearing loans of which $22,000
are outstanding as of December 31, 2014 and 2013.
On April 18 and May 17, 2012, a Vice President loaned the Company $38,000 and
$4,000, respectively, in a non-interest bearing loan (see Note 6 "Related Party
Transactions"). On June 24, 2013, the Vice President converted the $42,000 in
Non-Interest Bearing Loans into restricted Common Shares of the Company (see
Note 5 "Stockholders' Equity" and Note 6 "Related Party Transactions").
On May 21 and 30, 2012 and March 5, 2013, the Chairman of the Board loaned the
Company $12,000, $38,250 and $4,850 respectively, in a non-interest bearing
loans (see Note 6 "Related Party Transactions"). On June 24, 2013, the
Chairman converted the $50,250 in non-interest bearing loans in restricted
Common Shares of the Company (see Note 5 "Stockholders' Equity" and Note 6
"Related Party Transactions").
The amounts of all non-interest bearing loans outstanding at December 31, 2014
and December 31, 2013, respectively are unsecured (see Note 6, "Related Party
Transactions") follows:
                                                  December 31,      December 31,
                                                     2014              2013
                                                   --------          --------
Non-interest bearing to Loans:
  Non-Officer/Director                             $ 22,000          $ 22,000
  Chairman Of Board and Officer                       4,850             4,850
                                                   --------          --------
      Total                                        $ 26,850          $ 26,850
                                                   ========          ========
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M7```]]L"`!$`&````````0```*2!`````'-G;V\M,C`Q-#$R,S$N>&UL550% M``.U`Q0````(`$\P?T9I:JJ%(@L` M`!&&```5`!@```````$```"D@5MA``!S9V]O+3(P,30Q,C,Q7V1E9BYX;6Q5 M5`4``[5P&E5U>`L``00E#@``!#D!``!02P$"'@,4````"`!/,']&-WS@S$=2 M```\K`,`%0`8```````!````I(',;```&UL M550%``.U`Q0````(`$\P?T8!Y!&\ M9!@``$0.`0`1`!@```````$```"D@2'C``!S9V]O+3(P,30Q,C,Q+GAS9%54 L!0`#M7`:575X"P`!!"4.```$.0$``%!+!08`````!@`&`!H"``#0^P`````` ` end XML 56 R34.htm IDEA: XBRL DOCUMENT v2.4.1.9
Share transactions from June to December 2013 (Details) (USD $)
Dec. 17, 2013
Nov. 26, 2013
Oct. 25, 2013
Oct. 01, 2013
Sep. 26, 2013
Aug. 27, 2013
Jul. 22, 2013
Jul. 20, 2013
Share transactions from June to December 2013                
Company sold restricted Common shares to non related parties   1,000,000fil_CompanySoldRestrictedCommonSharesToNonRelatedParties         100,000fil_CompanySoldRestrictedCommonSharesToNonRelatedParties 400,000fil_CompanySoldRestrictedCommonSharesToNonRelatedParties
Per share value of restricted Common shares   $ 0.03fil_PerShareValueOfRestrictedCommonShares         $ 0.08fil_PerShareValueOfRestrictedCommonShares $ 0.05fil_PerShareValueOfRestrictedCommonShares
Value of restricted Common shares in total   $ 30,000fil_ValueOfRestrictedCommonSharesInTotal         $ 8,000fil_ValueOfRestrictedCommonSharesInTotal $ 20,000fil_ValueOfRestrictedCommonSharesInTotal
Percentage of discount from the closing price of the Company's freely-traded Common shares of $0.07 on the OTC.BB for restricted shares         25.00%fil_PercentageOfDiscountFromTheClosingPriceOfTheCompanySFreelyTradedCommonSharesOf007OnTheOtcBbForRestrictedShares     28.60%fil_PercentageOfDiscountFromTheClosingPriceOfTheCompanySFreelyTradedCommonSharesOf007OnTheOtcBbForRestrictedShares
Company rescinded and canceled restricted Common shares at $0.06 per share,from its Vice President of Sales and Technical Services           300,000fil_CompanyRescindedAndCanceledRestrictedCommonSharesAt006PerShareFromItsVicePresidentOfSalesAndTechnicalServices    
Value of shares rescinded           18,000fil_ValueOfSharesRescinded    
Vice President of Sales and Technical Services signed a Debt Settlement Agreement           60,000fil_VicePresidentOfSalesAndTechnicalServicesSignedADebtSettlementAgreement    
Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for restricted Common shares 5,000,000fil_CompanySignedADebtSettlementAgreementWithItsChiefExecutiveOfficerAndPresidentForRestrictedCommonShares   78,000fil_CompanySignedADebtSettlementAgreementWithItsChiefExecutiveOfficerAndPresidentForRestrictedCommonShares   300,000fil_CompanySignedADebtSettlementAgreementWithItsChiefExecutiveOfficerAndPresidentForRestrictedCommonShares      
Company signed a Debt Settlement Agreement with its Chief Executive Officer and President for an amount 200,000fil_CompanySignedADebtSettlementAgreementWithItsChiefExecutiveOfficerAndPresidentForAnAmount   150,000fil_CompanySignedADebtSettlementAgreementWithItsChiefExecutiveOfficerAndPresidentForAnAmount   18,000fil_CompanySignedADebtSettlementAgreementWithItsChiefExecutiveOfficerAndPresidentForAnAmount      
Company signed a Consulting Agreement with a non-related party to provide investor relations services for restricted Common shares       200,000fil_CompanySignedAConsultingAgreementWithANonRelatedPartyToProvideInvestorRelationsServicesForRestrictedCommonShares        
Company signed a Consulting Agreement with a non-related party to provide investor relations services for an amount       $ 16,000fil_CompanySignedAConsultingAgreementWithANonRelatedPartyToProvideInvestorRelationsServicesForAnAmount        
XML 57 R21.htm IDEA: XBRL DOCUMENT v2.4.1.9
ACCOUNTING POLICIES (Policies)
12 Months Ended
Dec. 31, 2014
ACCOUNTING POLICIES  
DESCRIPTION OF BUSINESS AND HISTORY
1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY - Snoogoo Corporation
(formerly Casey Container Corp. and formerly Sawadee Ventures Inc.), a Nevada
corporation, (hereinafter referred to as the "Company" or "Snoogoo Corp") was
incorporated in the State of Nevada on September 26, 2006. The Company's
year-end is December 31. The Company was originally formed in 2006 to engage in
the acquisition, exploration and development of natural resource properties of
merit.
Effective January 6, 2010 Ms. Rachna Khanna tendered her resignation as the
President, CEO, CFO and Director. Effective January 12, 2010, James Casey, Terry
Neild and Robert Seaman were appointed as Directors of the Company. Mr. Casey
was elected President, Mr. Terry Neild was elected Chief Executive Officer,
Chief Financial Officer and Secretary and Mr. Seaman was elected Vice
President-Operations.
Effective January 12, 2010, the Company's Certificate of Incorporation was
changed and the name of the Company was changed to Casey Container Corp.
("Casey"). Casey designs and will custom manufacture biodegradable PET and other
polymer plastic preforms that become PET and other polymer plastic bottles and
containers, for such product lines as bottled water, bottled beverages and other
consumer products. Casey has a non-exclusive supply and license agreement with
Bio-Tec Environmental, LLC. Casey currently is considered a "shell" company
inasmuch as it is not in production and has no revenues, employees or material
assets.
Effective February 7, 2011, Martin R. Nason was elected President, Chief
Executive Officer and Chief Financial Officer. Mr. Neild remained Chairman of
the Board of Directors and Secretary, Mr. Casey as Vice President of Technical
Services and Sales and Mr. Seaman as Vice President Manufacturing. On January
31, 2014, Mr. Seaman resigned and Mr. Nason was elected as a Director.
On January 9, 2015 the Board Of Directors approved a Letter Of Understanding and
Term Sheet to purchase the assets, including, but not limited to patents,
intellectual property rights, logos and commercial symbols relating to an
Information Network technology software.
On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively,
resigned as Members of the Board Of Directors, which was approved by the
remaining Board Members on January 20, 2015. Mr. Nason remained as its Chief
Executive Officer, President and Chief Financial Officer.
On February 9, 2015, the Board of Directors of the Company resolved and approved
to change the Company's name to SnooGoo Corp. and to increase the authorized
Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par
value and on February 10, 2015, a Certificate of Amendment was accordingly filed
with the State of Nevada and the Company received a Nevada State Business
License for SnooGoo Corp. on February 11, 2015. On February 11, the Company
signed an Asset Purchase Agreement relative to the Letter Of Understanding and
Term Sheet per January 9, 2015 above, taking the Company in a completely new
business direction. The Company no longer will no pursue its previous business
venture in the biodegradable plastic industry. The Company filed for trademark
registration of the Snoogoo name and logo as identifying marks of the Snoogoo
Software products and Apps, including all applications (see Note 13, "Subsequent
Events").
BASIS OF PRESENTATION
BASIS OF PRESENTATION - In the opinion of management, the accompanying balance
sheets and related statements of operations, cash flows and stockholders' equity
include all adjustments, consisting only of normal recurring items, necessary
for their fair presentation in conformity with accounting principles generally
accepted in the United States of America ("U.S. GAAP"). Preparing financial
statements requires management to make estimates and assumptions that affect the
reported amounts of assets, liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amount of
revenue and expenses during the reporting period. Actual results and outcomes
may differ from managements' estimates and assumptions.
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - The Company considers all highly liquid investments
with maturity of three months or less to be cash equivalents.
INCOME TAXES
INCOME TAXES - The Company accounts for its income taxes by recognizing deferred
tax assets and liabilities for future tax consequences attributable to
differences between the financial statement carrying amounts of existing assets
and liabilities and their respective tax basis and tax credit carry forwards.
Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect on deferred tax
assets and liabilities of a change in tax rates is recognized in operations in
the period that includes the enactment date.
The Company has net operating loss carryovers of $4,537,713 and $4,257,005 for
the years ended December 31, 2014 and 2013 respectively, to be used to reduce
future year's taxable income. The Company has recorded a valuation allowance for
the full potential tax benefit of the operating loss carryovers due to the
uncertainty regarding realization.
                                                 December 31,      December 31,
                                                     2014              2013
                                                 ------------      ------------
Net operating loss carryovers                    $  4,537,713      $  4,257,005
                                                 ============      ============
Effective tax deferred asset (30% tax rate)      $  1,361,314      $  1,277,101
Impairment of tax deferred asset                 $ (1,361,314)     $ (1,277,101)
                                                 ------------      ------------
Net tax deferred asset                           $          0      $          0
                                                 ============      ============
NET LOSS PER COMMON SHARE
NET LOSS PER COMMON SHARE - Basic net loss per share is computed by dividing the
net loss available to common stockholders for the period by the weighted average
number of shares of common stock outstanding during the period. The calculation
of diluted net loss per share gives effect to common stock equivalents; however,
potential common shares are excluded if their effect is anti-dilutive. For the
period from September 26, 2006 (Date of Inception) through December 31, 2014,
the Company had no potentially dilutive securities. The basic and diluted net
loss per share was $(0.00) and $(0.01) for the years ended December 31, 2014 and
2013, respectively. For the years ended December 31, 2014 and 2013 the Net Loss
was $(280,708) and $(601,002), respectively. For the years ended December 31,
2014 and 2013, the Weighted Average Number of Common shares used in per share
calculations was 94,448,130 and 76,512,135 respectively.
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION - The Company has not adopted a stock option plan. In
the years ended December 31, 2014 and 2013, the Company issued none and 600,000
Restricted Common shares with a value of none and $60,000 respectively, which
represented the closing price of the Company's Common shares on the date of each
issuance.
REVENUE RECOGNITION
REVENUE RECOGNITION - The Company recognizes revenue when the following four
revenue recognition criteria are met (1) persuasive evidence of an arrangement
that exists; (2) delivery has occurred or services have been provided; (3) the
selling price is fixed or determinable and (4) collectability is reasonably
assured.
LONG-LIVED ASSETS - The carrying value of intangible assets and other long-lived
assets is reviewed on a regular basis for the existence of facts or
circumstances that may suggest impairment. The Company recognizes impairment
when the sum of the expected undiscounted future cash flows is less than the
carrying amount of the asset. Impairment losses, if any, are measured as the
excess of the carrying amount of the asset over its estimated fair value.
LONG-LIVED ASSETS
LONG-LIVED ASSETS - The carrying value of intangible assets and other long-lived
assets is reviewed on a regular basis for the existence of facts or
circumstances that may suggest impairment. The Company recognizes impairment
when the sum of the expected undiscounted future cash flows is less than the
carrying amount of the asset. Impairment losses, if any, are measured as the
excess of the carrying amount of the asset over its estimated fair value.
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair value estimates discussed herein are
based upon certain market assumptions and pertinent information available to
management, as of December 31, 2014 and 2013. These financial instruments
include cash, prepaid expenses and accounts payable. Fair values were assumed to
approximate carrying values for cash and payables because they are short term in
nature and their carrying amounts approximate fair values or they are payable on
demand.
Level 1: The preferred inputs to valuation efforts are "quoted prices in active
markets for identical assets or liabilities," with the caveat that the reporting
entity mush have access to that market. Information at this level is based on
direct observations of transactions involving the same assets and liabilities,
not assumptions, and thus offers superior reliability. However, relatively few
items, especially physical assets, actual trade in active markets.
Level 2: The Financial Accounting Standards Board ("FASB") acknowledged that
active markets for identical assets and liabilities are relatively uncommon and,
even when they do exist, they may be too thin to provide reliable information.
To deal with this shortage of direct data, FASB provided a second level of
inputs that can be applied in three situations.
Level 3: If inputs from Levels 1 and 2 are not available, FASB acknowledges that
fair value measures of many assets and liabilities are less precise. FASB
describes Level 3 inputs as "unobservable," and limits their use by saying they
"shall be used to measure fair value to the extent that observable inputs are
not available." This category allows "for situations in which there is little,
if any, market activity for the asset or liability at the measurement date."
Earlier in the standard, FASB explains that "observable inputs" are gathered
from sources other than the reporting company and that they are expected to
reflect assumptions made my market participants.
RECENT ACCOUNTING PRONOUNCEMENTS
RECENT ACCOUNTING PRONOUNCEMENTS - FASB issues various Accounting Standards
Updates relating to the treatment and recording of certain accounting
transactions. On June 10, 2014, the Financial Accounting Standards Board issued
Accounting Standards Update (ASU) No. 2014-10, DEVELOPMENT STAGE ENTITIES (TOPIC
915) - ELIMINATION OF CERTAIN FINANCIAL REPORTING REQUIREMENTS, INCLUDING AN
AMENDMENT TO VARIABLE INTEREST ENTITIES GUIDANCE IN TOPIC 810, CONSOLIDATION,
which eliminates the concept of a development stage entity (DSE) entirely from
current accounting guidance. The Company has elected adoption of this standard,
which eliminates the designation of DSEs and the requirement to disclose results
of operations and cash flows since inception.
XML 58 R26.htm IDEA: XBRL DOCUMENT v2.4.1.9
DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY (DETAILS) (USD $)
Feb. 09, 2015
DESCRIPTION OF BUSINESS, HISTORY AND COMPANY TODAY  
Increase in the authorized Common Shares 1,000,000,000fil_IncreaseInTheAuthorizedCommonShares
Increase in the par value $ 0.001fil_IncreaseInTheParValue
XML 59 R41.htm IDEA: XBRL DOCUMENT v2.4.1.9
ADVERTISING (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
ADVERTISING {2}    
General and Administrative expenses, as incurred $ 6,425fil_GeneralAndAdministrativeExpensesAsIncurred $ 21,000fil_GeneralAndAdministrativeExpensesAsIncurred
XML 60 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Statements of Stockholders' Equity (Deficit) (Expressed in U.S. Dollars) (Audited) (USD $)
Common Stock Shares
Common Stock Amount
Common Stock Issuable Shares
Common Stock Issuable Amount
Additional Paid-In Capital
Deficit Accumulated During Development Stage
USD ($)
Stockholders Equity
USD ($)
Balance at Dec. 31, 2012 69,566,701us-gaap_SharesOutstanding
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XML 61 R10.htm IDEA: XBRL DOCUMENT v2.4.1.9
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2014
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT
3. PROPERTY AND EQUIPMENT
As of December 31, 2014 and 2013, respectively, the Company does not own any
property and/or equipment.
XML 62 R27.htm IDEA: XBRL DOCUMENT v2.4.1.9
Components of deferred tax asset (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Components of deferred tax asset    
Net operating loss carryovers $ 4,537,713fil_NetOperatingLossCarryovers $ 4,257,005fil_NetOperatingLossCarryovers
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Impairment of tax deferred asset (1,361,314)fil_ImpairmentOfTaxDeferredAsset (1,277,101)fil_ImpairmentOfTaxDeferredAsset
Net tax deferred asset $ 0fil_NetTaxDeferredAsset $ 0fil_NetTaxDeferredAsset
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Amounts outstanding to Related Parties respectively as follows (Details) (USD $)
Nov. 17, 2014
Jan. 31, 2014
Oct. 01, 2013
Amounts outstanding to Related Parties respectively as follows      
Owes in a non-interest bearing loan is no longer deemed a Related Party     $ 22,000fil_OwesInANonInterestBearingLoanIsNoLongerDeemedARelatedParty
Debt Settlement Agreement, converting   50,000fil_DebtSettlementAgreementConverting  
Unpaid expenses and loans   1,250,000fil_UnpaidExpensesAndLoans  
Chairman assumed an interest-bearing loan $ 28,647.08fil_ChairmanAssumedAnInterestBearingLoan    
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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2014
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS
13.  SUBSEQUENT EVENTS
On January 6, 2015, the Company entered into three (3) Debt Settlement
Agreements to exchange a total of 26 million Restricted Common shares, at $0.01
per share, for debt owed to the Creditors totally $260,000, which was approved
at the January 9, 2015 Board Of Directors Meeting. The Chairman exchanged
$200,000 of debt for twenty (20) million Restricted Common shares, an
independent Director exchanged $10,000 of debt for one (1) million Restricted
Common shares and a creditor of the Company exchanged $50,000 of debt for five
(5) million Restricted Common Shares. Also at its January 9, 2015 Board Of
Directors Meeting, the Board approved a Letter Of Understanding and Term Sheet
to purchase the assets, including but not limited to patents, intellectual
property rights, logos and commercial symbols relating to the Information
Network technology software.
On January 14 and 16, 2015, James T. Casey and Martin R. Nason, respectively
resigned as Members of the Board Of Directors, which was approved by the
remaining Board Members on January 20, 2015. Mr. Nason will remain as its Chief
Executive Officer, President and Chief Financial Officer.
On January 27, 2015, the Company entered into a Debt Settlement Agreement to
exchange six million five hundred thousand (6,500,000) Restricted Common shares,
at $0.03 per share, for $195,000 of debt owed to a company controlled by its
Chief Executive Officer, President and Chief Financial Officer, which was
approved at the January 28, 2015 Board Of Directors Meeting.
On February 4, 2015, the Company sold for cash 1,000,000 Restricted Common
shares to a non-related party at $0.025 per share for $25,000.
On February 5, 2015, the Company filed a Form 8-K with the Securities and
Exchange Commission regarding the above events.
On February 9, 2015, the Board of Directors of the Company resolved and approved
to change the Company's name to SnooGoo Corp. and to increase the authorized
Common Shares from 250,000,000, $0.001 par value to 1,000,000,000, $0.001 par
value, which was approved by over fifty-one percent (51%) of the issued and
outstanding Common Shares. On February 10, 2015, a Certificate of Amendment was
accordingly filed with the State of Nevada and the Company received a Nevada
State Business License for SnooGoo Corp. on February 11, 2015.
On February 11, 2015, the Company filed a Form 8-K with the Securities and
Exchange Commission regarding the signing of the Asset Purchase Agreement, as
per January 9, 2015 above, along with a Debt Settlement Agreement to exchange
six million six hundred and sixty eight thousand (6,668,000) Restricted Common
shares, at $0.03 per share, for $200,040 of debt owed to a company controlled by
its Chief Executive Officer, President and Chief Financial Officer, which was
approved at the February 16, 2015 Board Of Directors Meeting.
On February 16, 2015, the Board of Directors of the Company resolved and
approved the Debt Settlement Agreement dated February 11, 2015, as per the
previous paragraph and approved Consulting Agreements with Kenny Consulting, LLC
dated February 3, 2015 for 4,000,000 Restricted Common shares at $0.03 per
share, Robert Egeland dated February 3, 2015 for 7,500,000 Restricted Common
shares at $0.03 per share, Michael Schifsky dated February 10, 2015 for
4,000,000 Restricted Common shares at $0.03 per share and Nishil Patel dated
February 10, 2015 for 500,000 Restricted Common shares at $0,03 per share.
On February 17, 2015, the Board of Directors of the Company resolved and
approved an Amendment to each Agreement to Serve on the Board of Directors with
the two independent Directors, Richard Truelick and Scott Campbell, for
2,000,000 Restricted Common shares at $0.03 per share to each independent
Director.
On February 23, 2015, the Board of Directors of the Company accepted the
resignation of Martin R. Nason as Company Treasurer and the appointment of
Michael Schifsky as Company Treasurer.
On February 23, 2015, the Company received approval from the Financial Industry
Regulatory Authority ("FINRA"), that it approved the name change from Casey
Container Corp. to Snoogoo Corp. and assigned the trading symbol "SGOO,"
effective the beginning of trading on February 24, 2015.