Twentyfour/seven Ventures Form 10-Q

0001014897-13-000408.txt : 20131114 0001014897-13-000408.hdr.sgml : 20131114 20131114134454 ACCESSION NUMBER: 0001014897-13-000408 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20130930 FILED AS OF DATE: 20131114 DATE AS OF CHANGE: 20131114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Twentyfour/seven Ventures, Inc. CENTRAL INDEX KEY: 0001565700 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 208594615 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-186068 FILM NUMBER: 131218682 BUSINESS ADDRESS: STREET 1: 132 W. 11TH AVENUE CITY: DENVER STATE: CO ZIP: 80204 BUSINESS PHONE: 720-266-6996 MAIL ADDRESS: STREET 1: 132 W. 11TH AVENUE CITY: DENVER STATE: CO ZIP: 80204 10-Q 1 f24710q3q13v1.htm FORM 10-Q Twentyfour/seven Ventures Form 10-Q

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

[x] Quarterly Report Pursuant to Section 13 or 15(d) Securities Exchange Act of 1934 for Quarterly Period Ended September 30, 2013

-OR-

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

Commission File Number 333-186068

Twentyfour/seven Ventures, Inc.

(Exact name of registrant as specified in its charter)



Colorado		20-8594615
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification Number)



132 W. 11^th Avenue, Denver Colorado		80204
(Address of principal executive offices)		(Zip Code)

(720) 266-6996

(Registrant's telephone number, including area code)

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [x] No [ ]

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

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



Large accelerated filer [ ]		Non-accelerated filer [ ]
Accelerated filer [ ]		Smaller reporting company [x]

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

The number of outstanding shares of the registrant's common stock as of

November 14, 2013: Common Stock – 10,000,000

TWENTYFOUR/SEVEN VENTURES, INC.

FORM 10-Q

For the quarterly period ended September 30, 2013

INDEX

PART I – FINANCIAL INFORMATION



		Page
Item 1. Financial Statements (Unaudited)		4
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations		9
Item 3. Quantitative and Qualitative Disclosure About Market Risk		10
Item 4. Controls and Procedures		10

PART II – OTHER INFORMATION



Item 1. Legal Proceedings		12
Item 1A. Risk Factors		12
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		12
Item 3. Defaults upon Senior Securities		12
Item 4. Mine Safety Disclosures		12
Item 5. Other Information		12
Item 6. Exhibits		12

SIGNATURES		13

Twentyfour/seven Ventures, Inc.

Condensed Balance Sheets


		Sept. 30, 2013
	Dec. 31, 2012	(Unaudited)
ASSETS
Current assets
Cash	$ 24,579	$ 24,468
Accounts receivable	3,858	27,551
Customer deposits - held	23,100	37,048
Total current assets	51,537	89,067

Fixed assets	23,862	24,534
Accumulated depreciation	(20,670)	(22,184)
Restricted cash reserves	184,253	198,445
Other assets	650	3,324
	188,095	204,119

Total Assets	$239,632	$293,186

LIABILITIES & STOCKHOLDERS' EQUITY

Current liabilities
Accounts payable	$ 10,379	$ 9,569
Related party payables	479	28,479
Interest payable	10,477	14,977
Taxes payable	1,210	1,832
Customer deposits - owed	23,100	37,048
Notes payable - current portion	75,000	75,000
Total current liabilities	120,645	166,905

Notes payable	-	-
Total Liabilities	120,645	166,905

Stockholders' Equity
Common stock, $.001 par value;
100,000,000 shares authorized;
9,990,000 shares issued and outstanding	9,990	9,990
Additional paid in capital	73,219	73,219
Retained earnings	35,778	43,072

Total Stockholders' Equity	118,987	126,281
Total Liabilities and Stockholders' Equity	$239,632	$293,186

The accompanying notes are an integral part of the consolidated financial statements.

Twentyfour/seven Ventures, Inc.

Condensed Statements of Operations

For the Three and Nine Months Ended September 30, 2013 and 2012

(Unaudited)


	Three Months	Three Months	Nine Months	Nine Months
	Ended	Ended	Ended	Ended
	Sept. 30, 2012	Sept. 30, 2013	Sept. 30, 2012	Sept. 30, 2013

Revenues	$136,503	$144,760	$372,345	$447,533
Cost of sales	50,544	84,970	247,989	319,746

Gross profit	85,959	59,790	124,356	127,787

Operating expenses:
Amortization & depreciation	680	264	1,928	1,514
General and administrative	37,302	40,024	99,150	112,647
	37,982	40,288	101,078	114,161

Gain (loss) from operations	47,977	19,502	23,278	13,626

Other income (expense):
Interest expense	(1,144)	(1,500)	(2,144)	(4,500)
	(1,144)	(1,500)	(2,144)	(4,500)

Income (loss) before
provision for income taxes	46,833	18,002	21,134	9,126

Provision for income tax	6,780	1,832	3,460	1,832

Net income (loss)	$ 40,053	$16,170	$17,674	$ 7,294

Net income (loss) per share
(Basic and fully diluted)	$ 0.00	$ 0.00	$ 0.00	$ 0.00

Weighted average number of
common shares outstanding	9,982,222	9,990,000	9,982,222	9,990,000

The accompanying notes are an integral part of the consolidated financial statements.

Twentyfour/seven Ventures, Inc.

Condensed Statements of Cash Flows

(Unaudited)


	Nine Months	Nine Months
	Ended	Ended
	Sept. 30, 2012	Sept. 30, 2013
Cash Flows From Operating Activities:
Net income (loss)	$ 17,674	$ 7,294
Adjustments to reconcile net loss to
net cash provided by (used for)
operating activities:
Amortization & depreciation	1,928	1,514
Accounts receivable	(6,608)	(23,693)
Accounts payable	859	(810)
Interest payable	2,144	4,500
Taxes payable	3,460	622
Compensatory stock issuances	150	-
Deposits	-	(2,674)
Net cash provided by (used for)
operating activities	19,607	(13,247)

Cash Flows From Investing Activities:
Fixed asset purchases	(2,115)	(672)
Restricted cash reserves	(34,545)	(14,192)
Net cash provided by (used for)
investing activities	(36,660)	(14,864)

Cash Flows From Financing Activities:
Related party payables	2,091	28,000
Notes payable - borrowings	50,000	-
Net cash provided by (used for)
financing activities	52,091	28,000

Net Increase (Decrease) In Cash	35,038	(111)

Cash At The Beginning Of The Period	2,641	24,579
Cash At The End Of The Period	$ 37,679	$ 24,468

Schedule Of Non-Cash Investing And Financing Activities
In 2012 a shareholder contributed $10,726 in debt to the capital of the Company.

Supplemental Disclosure
Cash paid for interest	$ -	$ -
Cash paid for income taxes	$ -	$ -

The accompanying notes are an integral part of the consolidated financial statements.

TWENTYFOUR/SEVEN VENTURES, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Twentyfour/seven Ventures, Inc. (the “Company”) was incorporated in the State of Colorado on March 8, 2007. The Company is engaged in the bail bond business.

Principles of consolidation

The accompanying consolidated financial statements include the accounts of Twentyfour/seven Ventures, Inc. and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation.

Basis of Presentation

The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim periods are not necessarily indicative of operations for a full year.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect 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.

Cash and cash equivalents

The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.

Accounts receivable

The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary.

Property and equipment

Property and equipment are recorded at cost and depreciated under accelerated or straight line methods over each item's estimated useful life.

Revenue recognition

Revenue is recognized on an accrual basis after services have been performed under contract terms, the service price to the client is fixed or determinable, and collectibility is reasonably assured.

Income tax

The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Net income (loss) per share

The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.

Financial Instruments

The carrying value of the Company’s financial instruments, as reported in the accompanying balance sheets, approximates fair value.

Long-Lived Assets

In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.

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

Trends and Uncertainties.

There are no known trends, events or uncertainties that have or are reasonably likely to have a material impact on the registrant’s short term or long term liquidity. Sources of liquidity both internal and external will come from the sale of the registrant’s services and products as well as the private sale of the registrant’s stock. There are no trends, events or uncertainties that have had or are reasonably expected to have a material impact on the net sales or revenues or income from continuing operations. There are no significant elements of income or loss that do not arise from the registrant’s continuing operations. There are no known causes for any material changes from period to period in one or more line items of the registrant’s financial statements.

Capital Resources and Source of Liquidity:

Our cash balance is 24,468 as of September 30, 2013. We believe that our cash balance will be sufficient to fund our operations for the fiscal year ended December 31, 2013 and has no current plans to raise additional equity. We have two notes payable to shareholders for a total of $75,000 due on June 1, 2014.

For the nine months ended September 30, 2013, we spent $672 on fixed asset purchases and $14,192 on restricted cash reserves. As a result, we had net cash used for investing activities of $14,864 for the nine months ended September 30, 2013.

For the nine months ended September 30, 2012, we spent $2,115 on fixed asset purchase and $34,545 on restricted cash reserves. As a result, we had net cash used for investing activities of $36,660 for the nine months ended September 30, 2012.

For the nine months ended September 30, 2013, we received $28,000 from related party payables. As a result, we had net cash provided by financing activities of $28,000 for the nine months ended September 30, 2013.

For the nine months ended September 30, 2012, we received $2,091 from related party payables and $50,000 from notes payable – borrowings. As a result, we had net cash provided by financing activities of $52,091 for the nine months ended September 2012.

Results of Operations

For the three months ended September 30, 2013, we earned revenues of $144,760. Our cost of sales was $84,970, resulting in a gross profit of $59,790. We paid amortization and depreciation expenses of $264 and general and administrative expenses of $40,024. We paid interest expense of $1,500, and paid a provision for income tax of $1,832. As a result, we had a net income of $16,170 for the three months ended September 30, 2013.

Comparatively, for the three months ended September 30, 2012, we earned revenues of $136,503. We had a cost of sales of $50,544, resulting in a gross profit of $85,959. We paid amortization and depreciation expenses of $680, and general and administrative expenses of $37,302. We paid interest expenses of $1,144 and paid a provision for income taxes of $6,780. As a result, we had a net income of $40,053 for the three months ended September 30, 2012.

Our revenues increased by $8,257, or 5.7%, during the three months ended September 30, 2013 compared to the three months ended September 30, 2012. Our costs of sale increased by $34,426, or 40.5% for the same period. Our costs of sale increased due to the increased number of agents working under us during the three months ended September 30, 2013 compared to the three months ended September 30, 2012.

For the nine months ended September 30, 2013, we earned revenues of $447,533. Our cost of sales was $319,746, resulting in a gross profit of $127,787. We had amortization and depreciation expenses of $1,514 and general and administrative expenses of $112,647. We paid interest expenses of $4,500, and paid a provision for income taxes of $1,832. As a result, we had a net income of $7,294 for the nine months ended September 30, 2013.

Comparatively, for the nine months ended September 30, 2012, we earned revenues of $372,345. Our cost of sales was $247,989, resulting in a gross profit of $124,356. We had amortization and depreciation expenses of $1,928, and general and administrative expenses of $99,150. We paid interest expenses of $2,144, and paid a provision for income tax of $3,460. As a result, we had a net income of $17,674 for the nine months ended September 30, 2012.

Our revenues increased by $75,188, or 16.8%, from the nine months ended September 30, 2013 compared to September 30, 2012. Our cost of sales increased by $71,757, or 22.4%, for the same period. The increase in cost of sales is primarily due to adding new agents during the nine months ended September 30, 2013.

Off-Balance Sheet Arrangements

The registrant had no material off-balance sheet arrangements as of September 30, 2013.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not applicable for smaller reporting companies.

Item 4. Controls and Procedures

During the period ended September 30, 2013, there were no changes in our internal controls over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our chief executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended, as of September 30, 2013. Based on this evaluation, our chief executive officer and principal financial officers have concluded such controls and procedures to be effective as of September 30, 2013 to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms and to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A. Risk Factors

Not applicable for smaller reporting companies

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

None

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures

Not Applicable

Item 5. Other Information

None

Item 6. Exhibits

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

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

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* Filed herewith

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

SIGNATURES

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

Dated: November 14, 2013

TWENTYFOUR/SEVEN VENTURES, INC.

By: /s/Robert M. Copley, Jr.

Robert M. Copley Jr.

Chief Executive Officer

Chief Financial Officer

EX-31 2 f24710q3q13ex31.htm EXHIBIT 31 302 Certification

302 CERTIFICATION

I, Robert M. Copley, Jr., certify that:

1. I have reviewed this quarterly report on Form 10-Q of Twentyfour/seven Ventures, Inc.;

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

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

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

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

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

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

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

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

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

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

Date: November 14, 2013

/s/Robert M. Copley, Jr.

Robert M. Copley, Jr.

Chief Executive Officer

Chief Financial Officer

EX-32 3 f24710q3q13ex32.htm EXHIBIT 32 906 Certifications

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Twentyfour/seven Ventures, Inc. (the "Company") on Form 10-Q for the quarter ended September 30, 2013 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Robert M. Copley, Jr., Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

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

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

/s/Robert M. Copley

Robert M. Copley

Chief Executive Officer

Chief Financial Officer

November 14, 2013

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NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   Twentyfour/seven Ventures, Inc. (the Company) was incorporated in the State of Colorado on March 8, 2007. The Company is engaged in the bail bond business.   Principles of consolidation   The accompanying consolidated financial statements include the accounts of Twentyfour/seven Ventures, Inc. and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation.   Basis of Presentation   The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim periods are not necessarily indicative of operations for a full year.   Use of Estimates   The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect 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.   Cash and cash equivalents   The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.   Accounts receivable   The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary.   Property and equipment   Property and equipment are recorded at cost and depreciated under accelerated or straight line methods over each item's estimated useful life.   Revenue recognition   Revenue is recognized on an accrual basis after services have been performed under contract terms, the service price to the client is fixed or determinable, and collectibility is reasonably assured.   Income tax   The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.   Net income (loss) per share   The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.   Financial Instruments   The carrying value of the Companys financial instruments, as reported in the accompanying balance sheets, approximates fair value.   Long-Lived Assets   In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.

Twentyfour/seven Ventures, Inc. (the Company) was incorporated in the State of Colorado on March 8, 2007. The Company is engaged in the bail bond business.

Principles of consolidation   The accompanying consolidated financial statements include the accounts of Twentyfour/seven Ventures, Inc. and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation.

Basis of Presentation   The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim periods are not necessarily indicative of operations for a full year.

Use of Estimates   The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect 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.

Cash and cash equivalents   The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.

Accounts receivable   The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary.

Property and equipment   Property and equipment are recorded at cost and depreciated under accelerated or straight line methods over each item's estimated useful life.

Revenue recognition   Revenue is recognized on an accrual basis after services have been performed under contract terms, the service price to the client is fixed or determinable, and collectibility is reasonably assured.

Income tax   The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Net income (loss) per share   The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.

Financial Instruments   The carrying value of the Companys financial instruments, as reported in the accompanying balance sheets, approximates fair value.

Long-Lived Assets   In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.

Note 1. Organization, Operations and Summary of Significant Accounting Policies: Long-lived Assets (Policies)	9 Months Ended
Sep. 30, 2013
Policies
Long-lived Assets	Long-Lived Assets In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.

Note 1. Organization, Operations and Summary of Significant Accounting Policies: Long-lived Assets (Policies)

Policies

Long-Lived Assets

Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.

+ References+ Details

Twentyfour/seven Ventures, Inc. - Consolidated Statement of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities
Net income (loss)	$ 7,294	$ 17,674
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:
Amortization & depreciation	1,514	1,928
Accounts receivable	(23,693)	(6,608)
Accounts payable	(810)	859
Interest payable	4,500	2,144
Taxes payable	622	3,460
Compensatory stock issuances	0	150
Deposits	(2,674)	0
Net cash provided by (used for) operating activities	(13,247)	19,607
Cash flows from investing activities
Fixed asset purchases	(672)	(2,115)
Restricted cash reserves	(14,192)	(34,545)
Net cash provided by (used for) investing activities	(14,864)	(36,660)
Cash flows from financing activities
Related party payables	28,000	2,091
Notes payable - borrowings	0	50,000
Net cash provided by financing activities	28,000	52,091
Net increase in cash	(111)	35,038
Cash at the Beginning of the Period	24,579	2,641
Cash at the End of the Period	24,468	37,679
Supplementary information:
Cash paid for Interest	0	0
Cash paid for Income taxes	$ 0	$ 0

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Note 1. Organization, Operations and Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)

9 Months Ended

Sep. 30, 2013

Policies

Cash and Cash Equivalents

Cash and cash equivalents

The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.

- Definition

Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.

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+ Details

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Note 1. Organization, Operations and Summary of Significant Accounting Policies: Business Description (Policies)	9 Months Ended
	Sep. 30, 2013
Policies
Business Description	Twentyfour/seven Ventures, Inc. (the “Company”) was incorporated in the State of Colorado on March 8, 2007. The Company is engaged in the bail bond business.

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9 Months Ended

Sep. 30, 2013

Policies

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9 Months Ended

Sep. 30, 2013

Policies

Accounts Receivable

Accounts receivable

The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary.

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Note 1. Organization, Operations and Summary of Significant Accounting Policies: Use of Estimates (Policies)

Policies

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References+ Details

Document and Entity Information (USD $)	9 Months Ended
Document and Entity Information (USD $)	Sep. 30, 2013
Document and Entity Information:
Entity Registrant Name	Twentyfour/seven Ventures, Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2013
Amendment Flag	false
Entity Central Index Key	0001565700
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	10,000,000
Entity Public Float	$ 0
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	Yes
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3