10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2016

or

¨   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to __________

Commission file number: 000-55066

CHESS SUPERSITE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	46-3621499
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

1131A Leslie Street, Suite 101 Toronto, Ontario, Canada	M3C 3L8
(Address of principal executive officers)	(Zip Code)

+1 647-927-4644

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

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 last 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 (§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 x      No ¨

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:

Large accelerated filer ¨	Accelerated filer ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)	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

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date:

35,060,000 common stock outstanding as of November 14, 2016. 

EXPLANATORY NOTE

This Form 10-Q/A amends the Quarterly Report on Form 10-Q of Chess Supersite Corporation for the quarterly period ended September 30, 2016 (the “Form 10-Q”), as filed with the Securities and Exchange Commission (the “SEC”) on November 14, 2016, for the sole purpose of adding certain detail in the Financial Statements which provides the reader with a clearer understanding of the Company’s revenue (Note 2), it’s Derivative liabilities (Note 2) and it’s outstanding shares of common stock (Note 6). The Form 10-Q/A also corrects the amount of interest accrued reported in Note 5 of the Financial Statements. These modifications, although processed by the management and reviewed by the independent accountant before the original filing date, were not present in the filed version due to error.

No other changes have been made to the Form 10-Q. This Form 10-Q/A speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the Form 10-Q.

TABLE OF CONTENTS

PART I FINANCIAL INFORMATION
Item 1.	Condensed Financial Statements (Unaudited)	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	8
Item 4.	Controls and Procedures	8
PART II OTHER INFORMATION
Item 1.	Legal Proceedings	8
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	8
Item 3.	Defaults Upon Senior Securities	8
Item 4.	Mine Safety Disclosures	8
Item 5.	Other Information	8
Item 6.	Exhibits	9

2

PART I – FINANCIAL INFORMATION

ITEM 1. CONDENSED FINANCIAL STATEMENTS.

CHESS SUPERSITE CORPORATION

CONDENSED FINANCIAL STATEMENTS

INDEX

Condensed Balance Sheets as of September 30, 2016 (Unaudited) and December 31, 2015	F-1
Condensed Statements of Operations for the three months and nine months ended September 30, 2016 and 2015 (Unaudited)	F-2
Condensed Statements of Cash Flows for the nine months ended September 30, 2016 and 2015 (Unaudited)	F-3
Notes to Condensed Financial Statements (Unaudited)	F-4 – F-8

3

CHESS SUPERSITE CORPORATION

CONDENSED BALANCE SHEETS

	September 30,			December 31,
	2016			2015
	(Unaudited)
	$			$
ASSETS
Current assets
Cash		23,422			838
Accounts receivable		519			—
Total current assets		23,941			838
Total assets		23,941			838
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accounts payable and accrued liabilities		219,285			480,919
Payable to related parties [Note 3]		469,697			400,000
Shareholder advances [Note 4]		131,026			195,436
Shares to be issued		—			12,500
Convertible promissory notes, net [Note 5]		441,750			—
Derivative liability [Note 5]		482,339			—
Total current liabilities		1,744,097			1,088,855
Total liabilities		1,744,097			1,088,855
Stockholders' deficit
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and outstanding		—			—
Common stock, $0.0001 par value, 100,000,000 shares authorized, 33,180,000 common shares outstanding  as of September 30, 2016 (20,650,000 common shares outstanding as of December 31, 2015) [Note 6]		3,318			2,065
Shares to be issued		247,550			—
Additional paid-in capital		3,386,716			2,017,181
Accumulated deficit		(5,357,740	)		(3,107,263	)
Total stockholders' deficit		(1,720,156	)		(1,088,017	)
Total liabilities and stockholders' deficit		23,941			838

The accompanying notes are an integral part of these unaudited condensed financial statements.

F - 1

CHESS SUPERSITE CORPORATION

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the						For the
	Three months ended						Nine months ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
	$			$			$			$
REVENUE		519			—			5,019			—
OPERATING EXPENSES
Advisory and consultancy fee		712,900			—			978,991			—
Management services fee to related parties		75,000			75,000			225,000			225,000
Donation		—			—			45,000			—
Legal and professional fees		26,696			23,024			78,880			52,415
Software development expense		10,000			88,402			134,990			108,402
Website development and marketing expenses		35,649			15,899			77,316			29,549
Rent and utilities		5,733			3,000			13,263			9,000
Office and general		19,924			1,808			13,061			6,150
Total operating expenses		885,902			207,133			1,584,501			430,516
OTHER INCOME AND EXPENSES
Day one derivative expense [Note 5]		849,431						849,431
Change in fair value of derivative liability [Note 5]		(259,044	)					(259,044	)
Net loss on settlement		34,290			—			34,290			—
Interest and bank charges		25,167			368			45,314			1,213
Exchange loss		414			—			8,840			—
Net loss before income taxes		(1,535,641	)		(207,501	)		(2,250,477	)		(431,729	)
Income taxes		—			—			—			—
Net loss		(1,535,641	)		(207,501	)		(2,250,477	)		(431,729	)
Loss  per share, basic and diluted		(0.05	)		(0.03	)		(0.09	)		(0.06	)
Weighted average shares - basic and diluted		30,820,549			6,900,000			24,663,681			6,900,000

The accompanying notes are an integral part of these unaudited condensed financial statements.

F - 2

CHESS SUPERSITE CORPORATION

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the			For the
	Nine months ended			Nine months ended
	September 30, 2016			September 30, 2015
	$			$
OPERATING ACTIVITIES
Net loss for the period		(2,250,477	)		(431,729	)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:
Day one derivative loss [Note 5]		849,431
Change in fair value of derivative liability [Note 5]		(259,044	)
Loss on settlement of liability		34,290
Shares issued/to be issued for advisory and other services		1,390,400			—
Changes in operating assets and liabilities:
Change in accounts receivable		(519	)		—
Change in accounts payable and accrued liabilities		(177,087	)		303,646
Net cash used in operating activities		(413,006	)		(128,083	)
FINANCING ACTIVITIES
Repayment of shareholder advances		(167,043	)		—
Advances received from shareholders		102,633			129,222
Proceeds from issuance of convertible promissory notes		480,000			—
Proceeds from issuance of common stock		20,000			—
Net cash provided by financing activities		435,590			129,222
Net increase in cash during the period		22,584			1,139
Cash, beginning of period		838			1,084
Cash, end of period		23,422			2,223
Cash paid for interest		36,000			nil
Cash paid for taxes		nil			nil

The accompanying notes are an integral part of these unaudited condensed financial statements.

F - 3

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

1. Organization, Nature of Business, Going Concern and Management Plans

Organization and Nature of Business

Chess Supersite Corporation ("Chess Supersite" or "the Company") was incorporated on July 2, 2013 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company’s current business comprises the operation of an extensive Chess gaming website. This comprehensive user friendly web site www.chessstars.com, is currently offering a state-of-the-art playing zone, broadcasts of the major tournaments, intuitive mega database, chess skilled contests and much more.

In May, 2014, the Company effected a change in control by the redemption of the stock held by its original shareholders, the issuance of shares of its common stock to new shareholders, the resignation of its original officers and directors and the appointment of new officers and directors.

On July 6, 2015, the Company filed its form S-1/A, to amend its form S-1 previously filed on January 26, 2015 and December 11, 2014. The prospectus relates to the offer and sale of 1,500,000 shares of common stock (the “Shares”) of the Company, $0.0001 par value per share, offered by the holders thereof (the “Selling Shareholder Shares”), who are deemed to be statutory underwriters. The selling shareholders will offer their shares at a price of $0.50 per share for the duration of the offering.

The maximum number of Shares that can be sold pursuant to the terms of this offering by the selling shareholders is (in aggregate) 1,500,000 Shares. Funds received by the selling shareholders will be immediately available to such selling shareholders for use by them. The Company will not receive any proceeds from the sale of the Selling Shareholder Shares.

On July 13, 2015, the Company received a notice of effectiveness from the SEC for the registration of its shares.

On September 22, 2015, the Company was able to secure an OTC Bulletin Board symbol CHZP from Financial Industry Regulatory Authority (FINRA).

Going Concern and Management Plans

The Company has not yet generated significant revenue since inception to date and has sustained operating losses during the nine months ended September 30, 2016. The Company had working capital deficit of $1,720,156 and an accumulated deficit of $5,357,740 as of September 30, 2016. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required.

The unaudited condensed interim financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The condensed unaudited financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations. The Company has, however, managed to raise financing in the amount of $480,000 during the period and is using these funds towards the development, operation and marketing of its Chess gaming website.

F - 4

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

2. Summary of Significant Accounting Policies

Basis of Presentation

The unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited condensed interim financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited condensed interim financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2016 or for any other interim period. The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2015. 

Reclassification of comparative figures

Certain of the prior period figures have been reclassified to align with Management’s current view of the Company’s operations.

Use of Estimates

The preparation of the unaudited condensed interim financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates.

Revenue recognition

In accordance with ASC 605, revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

During the period ended September 30, 2016, the Company earned revenue of $5,019, which comprises an amount of $4,500, as consideration for the arrangement of equipment and personnel to setup and produce a live streaming internet chess show and $519 as membership fee for the Company’s chess gaming website.

Fair Value of Financial Instruments

ASC 825-10 defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The Company considers the carrying amount of cash, accounts receivable, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization.

The Company also analyzes all financial instruments with features of both liabilities and equity under ASC 480-10, ASC 815-10 and ASC 815-40.

The Company adopted ASC 820-10 on January 1, 2008. ASC 820-10 defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

· Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets;

· Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments; and

· Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.

The Company used Level 3 inputs for its valuation methodology for the conversion option liability in determining the fair value using the Black-Scholes option-pricing model with the following assumption inputs:

	September 30, 2015
Annual dividend yield		-
Expected life (years)		0.5
Risk-free interest rate		0.52	%
Expected volatility		260	%

	Carrying Value		Fair Value Measurements at
	As of		September 30, 2016
	September 30,		Using Fair Value Hierarchy
	2016		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		482,339		-		-		482,339
Total	$	482,339	$	-	$	-	$	482,339

	Carrying Value		Fair Value Measurements at
	As of		December 31, 2015
	December 31,		Using Fair Value Hierarchy
	2015		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		Nil		-		-		-
Total	$	Nil	$	-	$	-	$	-

For a roll-forward analysis of embedded derivative liabilities refer to Note 5.

At September 30, 2015, the Company had derivative liabilities of $482,339. For the nine months ended September 30, 2016, the Company had gains on the fair valuation of derivative liabilities of $259,044. As of September 30, 2016, the Company did not identify any other assets or liabilities that are required to be presented on the balance sheet at fair value in accordance with ASC 825-10.

Recently Issued Accounting Standards

The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

F - 5

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

3. Related Party Transactions and Balances

During the nine months ended September 30, 2016, $225,000 (September 30, 2015: $225,000) was recorded as management services fee payable to Rubin Schindermann and Alexander Starr, who are shareholders in the Company. The amount is included in the related party balance as at September 30, 2016.

4. Shareholder Advances

Shareholder advances represent expenses paid by the owners from personal funds. The amount is non-interest bearing, unsecured and due on demand. The amount of advance as at September 30, 2016 and December 31, 2015 was $131,026 and $195,436, respectively. The amounts repaid during the nine months ended September 30, 2016 and 2015 were $167,043 and $nil, respectively.

5. Convertible Promissory Notes

During the nine months ended September 30, 2016, the Company issued convertible promissory notes, details of which are as follows:

Convertible promissory notes issued on July 14, 2016 and September 15, 2016, amounting to $75,000 (Note 4) and $30,000 (Note 5), respectively.

The key terms/features of the convertible notes are as follows:

1.	The maturity date of the note is November 19, 2016
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before six months from the date of the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory notes issued on March 1, 2016 amounting to $150,000 each to two investors (Notes 2 and 3).

The key terms/features of the convertible notes are as follows:

1. The Holders have the right from six months after the date of issuance, and until any time until the Notes are fully paid, to convert any outstanding and unpaid principal portion of the Notes, into fully paid and non–assessable shares of Common Stock (par value $.0001).

2. The Notes are convertible at a fixed conversion price of 45% of the lowest trading price of the Common Stock as reported on the OTC Pink maintained by the OTC Markets Group, Inc. upon which the Company’s shares are currently quoted, for the four (4) prior trading days including the day upon which a Notice of Conversion is received by the Company.

3. Interest on the unpaid principal balance of this Note shall accrue at the rate of twenty-four (24 %) per annum.

4. Beneficial ownership is limited to 4.99%.

5. The Notes may be prepaid in whole or in part, at any time during the period beginning on the issue date and ending on the maturity date September 1, 2016, beginning at 100% of the outstanding principal, accrued interest and certain other amounts that may be due and owing under the Notes.

Convertible Redeemable note issued on May 19, 2016, amounting to $75,000 (Note 1).

F - 6

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is May 19, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before November 19, 2016 (six months from the date of the note).
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Interest amounting to $49,336  was accrued for the nine months ended September 30, 2016.

Derivative liability

The Notes 2 and 3 amounting to $150,000, issued on March 1, 2016 matured on September 1, 2016, thereby resulting in the conversion option becoming exercisable to the holders. On September 2, 2016, the holder of Note 2 amounting to $150,000, exercised their right to convert principal amount of $38,250 into shares of the Company, as a result, the Company recorded a derivative liability as follows:

	September 1, 2016		September 2, 2016			September 30, 2016
Initial valuation of derivative liability	$	849,431
Derivate liability		849,431		739,393			482,339
Effect of conversion				(108,048	)
Change in fair value				(1,990	)		(257,054	)

6. Stockholders’ Deficit

The Company’s authorized capital stock consists of 100,000,000 shares of common stock and 20,000,000 shares of preferred stock. At September 30, 2016, there were 33,180,000 shares of common stock issued and outstanding (at December 31, 2015: 20,650,000 shares of common stock issued and outstanding) out of which 24,565,000 are restricted shares.

Capitalization

The Company is authorized to issue 100,000,000 shares of common stock, par value $0.0001, of which 35,060,000 shares are outstanding as of the date of this report. The Company is also authorized to issue 20,000,000 shares of preferred stock, par value $0.0001, of which no shares were outstanding as of the date of filing of this report.

Common Stock

Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights.

F - 7

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

Subject to preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the board of directors in its discretion from funds legally available therefor.

Holders of common stock have no pre-emptive rights to purchase the Company’s common stock. There are no conversion or redemption rights or sinking fund provisions with respect to the common stock. The Company may issue additional shares of common stock which could dilute its current shareholder's share value.

On March 17, 2016, the Company issued 65,000 shares of common stock at a price of $0.50 per share for an aggregate price of $32,500 in cash. Proceeds of $12,500 were received during the year ended December 31, 2015 and proceeds of $20,000 were received during the nine months ended September 30, 2016.

On November 25, 2015, the Company filed a registration statement on Form S-8 for 10,000,000 shares of common stock to be issued as compensation to officers, directors, employees, advisers and consultants. During the nine months ended September 30, 2016, the Company issued 12,465,000 shares of common stock to individuals as consideration for advisory and consultancy services amounting to $1,338,288 which were recorded at fair value. All services have been performed as of September 30, 2016.  

Shares to be issued represent 1,960,000 shares of common stock to be issued as compensation to advisers and consultants. These were recorded at fair value. The Company issued 1,880,000 of these shares in October 2016.

Preferred Stock

Shares of preferred stock may be issued from time to time in one or more series as may be determined by the board of directors. The board of directors may fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof without any further vote or action by the stockholders of the Company, except that no holder of preferred stock shall have pre-emptive rights. Any shares of preferred stock so issued would typically have priority over the common stock with respect to dividend or liquidation rights. The board of directors does not at present intend to seek stockholder approval prior to any issuance of currently authorized stock, unless otherwise required by law or otherwise.

7. Loss Per Share

FASB ASC 260, Earnings Per Share provides for calculations of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.

8. Subsequent Events

The Company’s management has evaluated subsequent events up to November 14, 2016, the date the financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following material subsequent event:

In October 2016, the Company issued 1,580,000 shares of common stock to individuals as consideration for advisory and consultancy services, which were recorded at fair value.

F - 8

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information and financial data discussed below is derived from the unaudited condensed interim financial statements of the Chess Supersite Corporation (“we,” “us” or the “Company”) for the nine months ended September 30, 2016 and were prepared and presented in accordance with generally accepted accounting principles in the United States.

Forward Looking Statements

Some of the statements contained in this Quarterly Report on Form 10-Q that are not historical facts are “forward -looking statements” which can be identified by the use of the 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 Quarterly Report, 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 to differ materially from those contemplated by such forward-looking statements include without limitation: 

· Our ability to raise capital when needed and on acceptable terms and conditions;

· Our ability to attract and retain management;

· Our ability to enter in to long-term supply agreements for the mineralized material;

· General economic conditions; and

· Other factors discussed in Risk Factors.

All forward looking statements made in connection with this Quarterly Report 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.

Overview

Chess Supersite Corporation ("Chess Supersite" or "the Company") was incorporated on July 2, 2013 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has limited operations to date. The company was formed to provide a method for a foreign or domestic private company to become a reporting company with a class of securities registered under the Securities Exchange Act of 1934.

The Company registered its common stock on a Form 10 registration statement filed pursuant to the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 12(g) thereof. The Company files with the Securities and Exchange Commission periodic and current reports under Rule 13(a) of the Exchange Act, including quarterly reports on Form 10-Q and annual reports Form 10-K.

In May, 2014, the Company effected a change in control by the redemption of the stock held by its original shareholders, the issuance of shares of its common stock to new shareholders, the resignation of its original officers and directors and the appointment of new officers and directors.

The Company issued 1,000,000 shares of its common stock pursuant to Section 4(2) of the Securities Act of 1933 at par representing 66.7% of the total outstanding 1,500,000 shares of common stock as follows:

500,000	Rubin Schinderman
500,000	Alexander Starr

With the issuance of the 1,000,000 shares of stock and the redemption of 20,000,000 shares of stock, the Company effected a change in its control and the shareholder(s) elected new management of the Company. The Company changed its name as part of the change in control.

4

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Business and Plan of Operations

The Company is designed to become an online chess site featuring sophisticated playing zone, game broadcasts with software analyses and top analysts' commentaries, education and other chess oriented resources. With the availability of global high speed Internet access, the Company anticipates that it will be able to deliver a high quality product featuring broadcasts of top worldwide games, education, interactivity, playing and other services.

The Company believes that chess players have two major needs: (1) to play against each other and (2) to watch games of top players including Grandmasters. The viewing of chess games is particularly adaptable to the Internet to allow for real time or archived viewing while enjoying the comments, announcements and analyses of top experts. The Company anticipates that the playing zone will utilize two-level architecture allowing thousands of users to watch and play as individuals and/or as teams. Web-based services designed for browsers and table computers will be the project's centerpiece and main point of focus. The Company anticipates that such an Internet site will have a great appeal to the vast worldwide chess playing population.

The Company, acquired certain assets (the “Acquisition”) of Chess Supersite, Inc., a corporation existing under the laws of Ontario, Canada. The Acquisition was consummated pursuant to the terms of the Asset Purchase Agreement (the “Agreement”) dated July 23, 2014 and in exchange for the issuance of 5,000,000 shares of common stock to Chess Supersite, Inc. The purpose of the Acquisition was to develop the Company’s business and build substantive operations from this initial base of assets, as well as to facilitate and prepare the Company for a registration statement and/or public offering of securities. On December 11, 2014 the Company filed a form 8-K, changing the status of the company from shell to operating.

During the current period, the Company has started to generate revenues. There is currently no income or cash flows from operations, however due to the high initial costs. The Company's independent auditors have substantial doubt about the Company's ability to continue as a going concern. At present, continuation of the Company as a going concern is dependent upon financial support from its stockholders and its ability to obtain necessary equity financing to continue its operations.

Currently, the Company is in the process of completing its comprehensive user friendly web site www.chessstars.com. The portal is going through extensive testing by our professionals and public-at-large. The website is currently offering a state-of-the-art playing zone, broadcasts of the major tournaments, intuitive mega database, chess skilled contests and much more. It is expected to be fully tested by the year end 2016, including the program for the opening date (matches, tournaments, chess skilled contests), incentives for the public (such as 1 year free Platinum Membership to those registered under their real names) etc. The Company has also involved World’s top Grandmasters as members of the advisory board, commentators, and as event programming managers, etc. Design, operation and continuous improvement of the website has been possible at the cost of significant time and expense. These expenses have been reported by us on the statement of operations as website development and software development expenses, and represent a major value to the Company and its investors. On July 11, 2016, the Company successfully filed an international patent protection for its online chess competition entitled “Choose Your Moves and Win” which utilizes an interface mechanics developed by the Company based on live chess broadcasts. The nature of the Company’s patent is to create a practical, educational yet enjoyable mechanism helping students to understand the selection of moves by strong grand masters who play a match online. Besides the game itself, students see on their screens 3 hints (best moves) selected by one of the strongest computer programs, while listening to grand master commentary, all in real time. Once the game is over, all students/spectators are invited to participate in an analysis of the game just played, along with the players and commentators.

On July 6, 2015, the Company filed its form S-1/A, to amend its form S-1 previously filed on January 26, 2015 and December 11, 2014. This prospectus relates to the offer and sale of 1,500,000 shares of common stock (the “Shares”) of Chess Supersite Corporation. (the “Company”), $0.0001 par value per share, offered by the holders thereof (the “Selling Shareholder Shares”), who are deemed to be statutory underwriters. The selling shareholders will sell the shares offered herein at the fixed price of $0.50 per share for the duration of the offering.

The maximum number of Shares that can be sold pursuant to the terms of this offering by the selling shareholders is (in aggregate) 1,500,000 Shares. Funds received by the selling shareholders will be immediately available to such selling shareholders for use by them. The Company will not receive any proceeds from the sale of the Selling Shareholder Shares.

On July 13, 2015, the Company received a notice of effectiveness from the SEC for the registration of its shares.

On September 22, 2015, the Company was able to secure a OTC Bulletin Board symbol CHZP from Financial Industry Regulatory Authority (FINRA).

5

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Results of Operations

We have not generated significant revenue to date and consequently our operations are subject to all of the risks inherent in the establishment of a new business enterprise. Our analysis on the performance of the Company is as follows:

Balance sheet – As at September 30, 2016 and December 31, 2015

Cash

At September 30, 2016 we had cash of $23,422 compared to $838 as at December 31, 2015. The increase is due to funds contributed by investors and shareholders offset by payment of software development and consulting expenses and professional and legal expenses during the period.

Accounts payable and accrued liabilities

At September 30, 2016 we had $214,121 of accounts payable and accrued liabilities as compared to $480,919 as at December 31, 2015. The balance primarily represents software development charges amounting to $164,308, marketing services cost amounting to $13,650, rent amounting to $18,000, legal fee amounting to $5,000 and interest on promissory notes amounting to $8,173.

Payable to related parties

At September 30, 2016 we had $469,697 of amount payable to related parties as compared to $400,000 as at December 31, 2015. The balance represents management services fee outstanding to the two shareholder/managers of the Company.

Shareholder advances

At September 30, 2016 we had $131,026 of shareholder advances as compared to $195,436 as at December 31, 2015. The balance represents Company expenses personally paid by shareholders.

Convertible promissory notes payable

In March, 2016, we entered into agreements with two investors and issued them convertible promissory notes amounting to $150,000 each. The outstanding amounts under these notes are due on or before September 1, 2016. In May, 2016, we entered into an agreement with an investor and issued them a convertible promissory note amounting to $75,000. The outstanding amount under the note is due on or before May 19, 2017. In July and September 2016, we entered into agreements with investors and issued them convertible promissory notes amounting to $75,000 and $30,000, respectively. The outstanding amount under the notes is due on or before November 19, 2016. We accrued interest on these notes during the nine months ended September 30, 2016 amounting to $8,173.

Statement of Operations – For the three months September 30, 2016 and 2015:

Revenue

Revenue of $519 represents membership fee for the Company’s chess gaming website.

Expenses

Our expenses are classified primarily into advisory and consultancy fee, salaries and wages, legal and professional fees, software development expense and website development and marketing expense. The significant increase in overall expenses for the three months ended September 30, 2016 compared to 2015 is due to the company’s limited operations in the comparative period. During the period, we also hired several independent consultants to provide us services with respect to our chess gaming website.

Expenses for the three months ended September 30, 2016 primarily represented Advisory and consultancy fee amounting to $712,900, salary for two employees amounting in total to $75,000, legal and professional charges of $26,696 comprising audit, accounting and Edgar agent fee, software development expense of $10,000 for the development of the online chess gaming system, website development and marketing expense amounting to $35,649 for the development of the Company’s website Chessstars.com and its marketing and publicity, rent and utilities amounting to $5,733, office and general expenses amounting to $19,924 and interest and bank charges amounting to $25,167. We also recorded a day one derivative expense amounting to $849,431, a net loss on settlement of a supplier invoice amounting to $34,290 and a fair valuation impact of our derivative liability amounting to $(259,044).

6

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Statement of Operations – For the nine months September 30, 2016 and 2015:

Revenue

Revenue of $5,019 comprises an amount of $4,500, which we invoiced and received as consideration for the supply of equipment and personnel to setup and produce a live streaming internet chess show from Marshall Chess Club and $519 as membership fee for the Company’s chess gaming website.

Expenses

Our expenses are classified primarily into advisory and consultancy fee, salaries and wages, legal and professional fees, software development expense and website development and marketing expense. The significant increase in overall expenses for the nine months ended September 30, 2016 compared to 2015 is due to the company’s limited operations in the comparative period. During the period, we also hired several independent consultants to provide us services with respect to our chess gaming website.

Expenses for the nine months ended September 30, 2016 primarily represented Advisory and consultancy fee amounting to $965,991, salary for two employees amounting in total to $225,000, donation of $45,000, legal and professional charges of $78,880 comprising audit, accounting and Edgar agent fee, software development expense of $134,990 for the development of the online chess gaming system, website development and marketing expense amounting to $77,316 for the development of the Company’s website Chessstars.com and its marketing and publicity, rent amounting to $13,263, office and general expenses amounting to $31,061 and interest and bank charges amounting to $50,478. We also recorded a day one derivative expense amounting to $849,431, a net loss on settlement of a supplier invoice amounting to $34,290 and a fair valuation impact of our derivative liability amounting to $(259,044). 

Liquidity and Capital Resources

At September 30, 2016, we had a working capital deficit of $1,720,156. We are actively seeking various financing operations to meet the working capital requirements.

To date we have relied on third parties to provide financing for our operations by way of private placements. The proceeds may not be sufficient to effectively develop our business to the fullest extent to allow us to maximize our revenue potential, in which case, we will need additional capital.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

Critical Accounting Policies

Revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

Other critical accounting policies are described in the Company’s Form 10-K for the year ended December 31, 2015.

Subsequent Events

In October 2016, we issued 1,880,000 shares of common stock to individuals as consideration for advisory and consultancy services, which were recorded at fair value.

Description of Property

Our principal executive office is located at 1131A Leslie Street, Suite 101, Toronto, Ontario, Canada, M3C 3L8.

7

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Smaller reporting companies are not required to provide the information required by this item. 

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures

Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s principal executive officer and principal financial officer of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon that evaluation, the Company’s principal executive officer and principal financial officer concluded that the Company’s disclosure controls and procedures were not effective as of September 30, 2016 to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

It should be noted that any system of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system are met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events. Because of these and other inherent limitations of control systems, there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Changes in internal controls

No change in our system of internal control over financial reporting occurred during the nine months ended September 30, 2016 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no legal proceedings against the Company and the Company is unaware of such proceedings contemplated against it.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On March 7, 2016, the Company issued an aggregate of 65,000 shares of common stock to two person at a price of $0.50 per share for an aggregate consideration of $32,500. The shares were issued pursuant to Regulation S under the Securities Act of 1933, as amended, because the two purchasers were each non-US persons residing abroad. The Company received $12,500 in advance during the year ended December 31, 2015.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None. 

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

8

ITEM 6. EXHIBITS

Exhibits:

31.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).*
32.1	Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.*
101.INS	XBRL Instance Document*
101.SCH	XBRL Taxonomy Extension Schema*
101.CAL	XBRL Taxonomy Extension Calculation Linkbase*
101.DEF	XBRL Taxonomy Extension Definition Linkbase*
101.LAB	XBRL Taxonomy Extension Label Linkbase*
101.PRE	XBRL Taxonomy Extension Presentation Linkbase*

* Filed herewith.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CHESS SUPERSITE CORPORATION
Dated: November 16, 2016	By:	/s/ Rubin Schindermann
		Rubin Schindermann
		Chief Executive Officer and Chief Financial Officer

9

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO SECTION 302

I, Rubin Schindermann, certify that:

1. I have reviewed this Form 10-Q of Chess Supersite Corporation;

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(s) 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 evaluations; 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(s) and I have disclosed, based on our most recent evaluation, 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 control over financial reporting.

Date: November 16, 2016	/s/ Rubin Schindermann
	Chief Executive Officer and
	Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO SECTION 906

Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, the undersigned officer of Chess Supersite Corporation (the "Company"), hereby certify to my knowledge that:

The Report on Form 10-Q for the period ended September 30, 2016 of the Company fully complies, in all material respects, with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and the information contained in the Report fairly represents, in all material respects, the financial condition and results of operations of the Company.

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.

	/s/ Rubin Schindermann
	Chief Executive Officer
	Chief Financial Officer
Date: November 16, 2016

XML

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 14, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	true
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Entity Registrant Name	Chess Supersite Corp
Entity Central Index Key	0001586554
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CHZP
Entity Common Stock, Shares Outstanding		35,060,000
Amendment Description	This Form 10-Q/A amends the Quarterly Report on Form 10-Q of Chess Supersite Corporation for the quarterly period ended September 30, 2016 (the “Form 10-Q”), as filed with the Securities and Exchange Commission (the “SEC”) on November 14, 2016, for the sole purpose of adding certain detail in the Financial Statements which provides the reader with a clearer understanding of the Company’s revenue (Note 2), it’s Derivative liabilities (Note 2) and it’s outstanding shares of common stock (Note 6). The Form 10-Q/A also corrects the amount of interest accrued reported in Note 5 of the Financial Statements. These modifications, although processed by the management and reviewed by the independent accountant before the original filing date, were not present in the filed version due to error. No other changes have been made to the Form 10-Q. This Form 10-Q/A speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the Form 10-Q.

XML

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets
Cash	$ 23,422	$ 838
Accounts receivable	519	0
Total current assets	23,941	838
Total assets	23,941	838
Current liabilities
Accounts payable and accrued liabilities	219,285	480,919
Payable to related parties [Note 3]	469,697	400,000
Shareholder advances [Note 4]	131,026	195,436
Shares to be issued	0	12,500
Convertible promissory notes, net [Note 5]	441,750	0
Derivative liability [Note 5]	482,339	0
Total current liabilities	1,744,097	1,088,855
Total liabilities	1,744,097	1,088,855
Stockholders' deficit
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.0001 par value, 100,000,000 shares authorized, 33,180,000 common shares outstanding as of September 30, 2016 (20,650,000 common shares outstanding as of December 31, 2015) [Note 6]	3,318	2,065
Shares to be issued	247,550	0
Additional paid-in capital	3,386,716	2,017,181
Accumulated deficit	(5,357,740)	(3,107,263)
Total stockholders' deficit	(1,720,156)	(1,088,017)
Total liabilities and stockholders' deficit	$ 23,941	$ 838

XML

CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Outstanding	33,180,000	20,650,000

XML

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUE	$ 519	$ 0	$ 5,019	$ 0
OPERATING EXPENSES
Advisory and consultancy fee	712,900	0	978,991	0
Management services fee to related parties	75,000	75,000	225,000	225,000
Donation	0	0	45,000	0
Legal and professional fees	26,696	23,024	78,880	52,415
Software development expense	10,000	88,402	134,990	108,402
Website development and marketing expenses	35,649	15,899	77,316	29,549
Rent and utilities	5,733	3,000	13,263	9,000
Office and general	19,924	1,808	13,061	6,150
Total operating expenses	885,902	207,133	1,584,501	430,516
OTHER INCOME AND EXPENSES
Day one derivative expense [Note 5]	849,431		849,431
Change in fair value of derivative liability [Note 5]	(259,044)		(259,044)
Net loss on settlement	34,290	0	34,290	0
Interest and bank charges	25,167	368	45,314	1,213
Exchange loss	414	0	8,840	0
Net loss before income taxes	(1,535,641)	(207,501)	(2,250,477)	(431,729)
Income taxes	0	0	0	0
Net loss	$ (1,535,641)	$ (207,501)	$ (2,250,477)	$ (431,729)
Loss per share, basic and diluted (in dollars per share)	$ (0.05)	$ (0.03)	$ (0.09)	$ (0.06)
Weighted average shares - basic and diluted (in shares)	30,820,549	6,900,000	24,663,681	6,900,000

XML

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES
Net loss for the period	$ (2,250,477)	$ (431,729)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:
Day one derivative loss [Note 5]	849,431
Change in fair value of derivative liability [Note 5]	(259,044)
Loss on settlement of liability	34,290	0
Shares issued/to be issued for advisory and other services	1,390,400	0
Changes in operating assets and liabilities:
Change in accounts receivable	(519)	0
Change in accounts payable and accrued liabilities	(177,087)	303,646
Net cash used in operating activities	(413,006)	(128,083)
FINANCING ACTIVITIES
Repayment of shareholder advances	(167,043)	0
Advances received from shareholders	102,633	129,222
Proceeds from issuance of convertible promissory notes	480,000	0
Proceeds from issuance of common stock	20,000	0
Net cash provided by financing activities	435,590	129,222
Net increase in cash during the period	22,584	1,139
Cash, beginning of period	838	1,084
Cash, end of period	23,422	2,223
Cash paid for interest	36,000
Cash paid for taxes

XML

Organization, Nature of Business, Going Concern and Management Plans

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. Organization, Nature of Business, Going Concern and Management Plans

Organization and Nature of Business

Chess Supersite Corporation ("Chess Supersite" or "the Company") was incorporated on July 2, 2013 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company’s current business comprises the operation of an extensive Chess gaming website. This comprehensive user friendly web site www.chessstars.com, is currently offering a state-of-the-art playing zone, broadcasts of the major tournaments, intuitive mega database, chess skilled contests and much more.

In May, 2014, the Company effected a change in control by the redemption of the stock held by its original shareholders, the issuance of shares of its common stock to new shareholders, the resignation of its original officers and directors and the appointment of new officers and directors.

On July 6, 2015, the Company filed its form S-1/A, to amend its form S-1 previously filed on January 26, 2015 and December 11, 2014. The prospectus relates to the offer and sale of 1,500,000 shares of common stock (the “Shares”) of the Company, $0.0001 par value per share, offered by the holders thereof (the “Selling Shareholder Shares”), who are deemed to be statutory underwriters. The selling shareholders will offer their shares at a price of $0.50 per share for the duration of the offering.

The maximum number of Shares that can be sold pursuant to the terms of this offering by the selling shareholders is (in aggregate) 1,500,000 Shares. Funds received by the selling shareholders will be immediately available to such selling shareholders for use by them. The Company will not receive any proceeds from the sale of the Selling Shareholder Shares.

On July 13, 2015, the Company received a notice of effectiveness from the SEC for the registration of its shares.

On September 22, 2015, the Company was able to secure an OTC Bulletin Board symbol CHZP from Financial Industry Regulatory Authority (FINRA).

Going Concern and Management Plans

The Company has not yet generated significant revenue since inception to date and has sustained operating losses during the nine months ended September 30, 2016. The Company had working capital deficit of $1,720,156 and an accumulated deficit of $5,357,740 as of September 30, 2016. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required.

The unaudited condensed interim financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The condensed unaudited financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations. The Company has, however, managed to raise financing in the amount of $480,000 during the period and is using these funds towards the development, operation and marketing of its Chess gaming website.

XML

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

2. Summary of Significant Accounting Policies

Basis of Presentation

The unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited condensed interim financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited condensed interim financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2016 or for any other interim period. The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2015. 

Reclassification of comparative figures

Certain of the prior period figures have been reclassified to align with Management’s current view of the Company’s operations.

Use of Estimates

The preparation of the unaudited condensed interim financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates.

Revenue recognition

In accordance with ASC 605, revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

During the period ended September 30, 2016, the Company earned revenue of $5,019, which comprises an amount of $4,500, as consideration for the arrangement of equipment and personnel to setup and produce a live streaming internet chess show and $519 as membership fee for the Company’s chess gaming website.

Fair Value of Financial Instruments

ASC 825-10 defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The Company considers the carrying amount of cash, accounts receivable, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization.

The Company also analyzes all financial instruments with features of both liabilities and equity under ASC 480-10, ASC 815-10 and ASC 815-40.

The Company adopted ASC 820-10 on January 1, 2008. ASC 820-10 defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

⋅ Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets;

⋅ Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments; and

⋅ Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.

The Company used Level 3 inputs for its valuation methodology for the conversion option liability in determining the fair value using the Black-Scholes option-pricing model with the following assumption inputs:

	September 30, 2015
Annual dividend yield		-
Expected life (years)		0.5
Risk-free interest rate		0.52	%
Expected volatility		260	%

	Carrying Value		Fair Value Measurements at
	As of		September 30, 2016
	September 30,		Using Fair Value Hierarchy
	2016		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		482,339		-		-		482,339
Total	$	482,339	$	-	$	-	$	482,339

	Carrying Value		Fair Value Measurements at
	As of		December 31, 2015
	December 31,		Using Fair Value Hierarchy
	2015		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		Nil		-		-		-
Total	$	Nil	$	-	$	-	$	-

For a roll-forward analysis of embedded derivative liabilities refer to Note 5.

At September 30, 2015, the Company had derivative liabilities of $482,339. For the nine months ended September 30, 2016, the Company had gains on the fair valuation of derivative liabilities of $259,044. As of September 30, 2016, the Company did not identify any other assets or liabilities that are required to be presented on the balance sheet at fair value in accordance with ASC 825-10.

Recently Issued Accounting Standards

The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

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Related Party Transactions and Balances

9 Months Ended

Sep. 30, 2016

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

3. Related Party Transactions and Balances

During the nine months ended September 30, 2016, $225,000 (September 30, 2015: $225,000) was recorded as management services fee payable to Rubin Schindermann and Alexander Starr, who are shareholders in the Company. The amount is included in the related party balance as at September 30, 2016.

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Shareholder Advances

9 Months Ended

Sep. 30, 2016

Shareholder Advances [Abstract]

Shareholder Advances [Text Block]

4. Shareholder Advances

Shareholder advances represent expenses paid by the owners from personal funds. The amount is non-interest bearing, unsecured and due on demand. The amount of advance as at September 30, 2016 and December 31, 2015 was $131,026 and $195,436, respectively. The amounts repaid during the nine months ended September 30, 2016 and 2015 were $167,043 and $nil, respectively.

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Convertible Promissory Notes

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

5. Convertible Promissory Notes

During the nine months ended September 30, 2016, the Company issued convertible promissory notes, details of which are as follows:

Convertible promissory notes issued on July 14, 2016 and September 15, 2016, amounting to $75,000 (Note 4) and $30,000 (Note 5), respectively.

The key terms/features of the convertible notes are as follows:

1.	The maturity date of the note is November 19, 2016
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before six months from the date of the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory notes issued on March 1, 2016 amounting to $150,000 each to two investors (Notes 2 and 3).

The key terms/features of the convertible notes are as follows:

1. The Holders have the right from six months after the date of issuance, and until any time until the Notes are fully paid, to convert any outstanding and unpaid principal portion of the Notes, into fully paid and non–assessable shares of Common Stock (par value $.0001).

2. The Notes are convertible at a fixed conversion price of 45% of the lowest trading price of the Common Stock as reported on the OTC Pink maintained by the OTC Markets Group, Inc. upon which the Company’s shares are currently quoted, for the four (4) prior trading days including the day upon which a Notice of Conversion is received by the Company.

3. Interest on the unpaid principal balance of this Note shall accrue at the rate of twenty-four (24 %) per annum.

4. Beneficial ownership is limited to 4.99%.

5. The Notes may be prepaid in whole or in part, at any time during the period beginning on the issue date and ending on the maturity date September 1, 2016, beginning at 100% of the outstanding principal, accrued interest and certain other amounts that may be due and owing under the Notes.

Convertible Redeemable note issued on May 19, 2016, amounting to $75,000 (Note 1).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is May 19, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before November 19, 2016 (six months from the date of the note).
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Interest amounting to $49,336 was accrued for the nine months ended September 30, 2016.

  

Derivative liability

The Notes 2 and 3 amounting to $150,000, issued on March 1, 2016 matured on September 1, 2016, thereby resulting in the conversion option becoming exercisable to the holders. On September 2, 2016, the holder of Note 2 amounting to $150,000, exercised their right to convert principal amount of $38,250 into shares of the Company, as a result, the Company recorded a derivative liability as follows:

	September 1, 2016		September 2, 2016		September 30, 2016
Initial valuation of derivative liability	$	849,431
Derivate liability		849,431		739,393		482,339
Effect of conversion				(108,048)
Change in fair value				(1,990)		(257,054)

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Stockholders' Deficit

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

6. Stockholders’ Deficit

The Company’s authorized capital stock consists of 100,000,000 shares of common stock and 20,000,000 shares of preferred stock. At September 30, 2016, there were 33,180,000 shares of common stock issued and outstanding (at December 31, 2015: 20,650,000 shares of common stock issued and outstanding) out of which 24,565,000 are restricted shares.

Capitalization

The Company is authorized to issue 100,000,000 shares of common stock, par value $0.0001, of which 35,060,000 shares are outstanding as of the date of this report. The Company is also authorized to issue 20,000,000 shares of preferred stock, par value $0.0001, of which no shares were outstanding as of the date of filing of this report.

Common Stock

Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights.

Subject to preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the board of directors in its discretion from funds legally available therefor.

Holders of common stock have no pre-emptive rights to purchase the Company’s common stock. There are no conversion or redemption rights or sinking fund provisions with respect to the common stock. The Company may issue additional shares of common stock which could dilute its current shareholder's share value.

On March 17, 2016, the Company issued 65,000 shares of common stock at a price of $0.50 per share for an aggregate price of $32,500 in cash. Proceeds of $12,500 were received during the year ended December 31, 2015 and proceeds of $20,000 were received during the nine months ended September 30, 2016.

On November 25, 2015, the Company filed a registration statement on Form S-8 for 10,000,000 shares of common stock to be issued as compensation to officers, directors, employees, advisers and consultants. During the nine months ended September 30, 2016, the Company issued 12,465,000 shares of common stock to individuals as consideration for advisory and consultancy services amounting to $1,338,288 which were recorded at fair value. All services have been performed as of September 30, 2016.

Shares to be issued represent 1,960,000 shares of common stock to be issued as compensation to advisers and consultants. These were recorded at fair value. The Company issued 1,880,000 of these shares in October 2016.

Preferred Stock

Shares of preferred stock may be issued from time to time in one or more series as may be determined by the board of directors. The board of directors may fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof without any further vote or action by the stockholders of the Company, except that no holder of preferred stock shall have pre-emptive rights. Any shares of preferred stock so issued would typically have priority over the common stock with respect to dividend or liquidation rights. The board of directors does not at present intend to seek stockholder approval prior to any issuance of currently authorized stock, unless otherwise required by law or otherwise.

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Loss Per Share

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. Loss Per Share

FASB ASC 260, Earnings Per Share provides for calculations of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.

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Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Events [Text Block]

8. Subsequent Events

The Company’s management has evaluated subsequent events up to November 14, 2016, the date the financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following material subsequent event:

In October 2016, the Company issued 1,580,000 shares of common stock to individuals as consideration for advisory and consultancy services, which were recorded at fair value.

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

The unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited condensed interim financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited condensed interim financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2016 or for any other interim period. The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2015. 

Reclassification, Policy [Policy Text Block]

Reclassification of comparative figures

Certain of the prior period figures have been reclassified to align with Management’s current view of the Company’s operations.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of the unaudited condensed interim financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates.

Revenue Recognition, Policy [Policy Text Block]

Revenue recognition

In accordance with ASC 605, revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

During the period ended September 30, 2016, the Company earned revenue of $5,019, which comprises an amount of $4,500, as consideration for the arrangement of equipment and personnel to setup and produce a live streaming internet chess show and $519 as membership fee for the Company’s chess gaming website.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

ASC 825-10 defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The Company considers the carrying amount of cash, accounts receivable, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization.

The Company also analyzes all financial instruments with features of both liabilities and equity under ASC 480-10, ASC 815-10 and ASC 815-40.

The Company adopted ASC 820-10 on January 1, 2008. ASC 820-10 defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

⋅ Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets;

⋅ Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments; and

⋅ Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.

The Company used Level 3 inputs for its valuation methodology for the conversion option liability in determining the fair value using the Black-Scholes option-pricing model with the following assumption inputs:

	September 30, 2015
Annual dividend yield		-
Expected life (years)		0.5
Risk-free interest rate		0.52	%
Expected volatility		260	%

	Carrying Value		Fair Value Measurements at
	As of		September 30, 2016
	September 30,		Using Fair Value Hierarchy
	2016		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		482,339		-		-		482,339
Total	$	482,339	$	-	$	-	$	482,339

	Carrying Value		Fair Value Measurements at
	As of		December 31, 2015
	December 31,		Using Fair Value Hierarchy
	2015		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		Nil		-		-		-
Total	$	Nil	$	-	$	-	$	-

For a roll-forward analysis of embedded derivative liabilities refer to Note 5.

At September 30, 2015, the Company had derivative liabilities of $482,339. For the nine months ended September 30, 2016, the Company had gains on the fair valuation of derivative liabilities of $259,044. As of September 30, 2016, the Company did not identify any other assets or liabilities that are required to be presented on the balance sheet at fair value in accordance with ASC 825-10.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

482,339

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

	Carrying Value		Fair Value Measurements at
	As of		September 30, 2016
	September 30,		Using Fair Value Hierarchy
	2016		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		482,339		-		-		482,339
Total	$	482,339	$	-	$	-	$	482,339

	Carrying Value		Fair Value Measurements at
	As of		December 31, 2015
	December 31,		Using Fair Value Hierarchy
	2015		Level 1		Level 2		Level 3
Liabilities
Embedded derivative liabilities		Nil		-		-		-
Total	$	Nil	$	-	$	-	$	-

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Convertible Promissory Notes (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Derivative Instruments [Table Text Block]

On September 2, 2016, the holder of Note 2 amounting to $150,000, exercised their right to convert principal amount of $38,250 into shares of the Company, as a result, the Company recorded a derivative liability as follows:

	September 1, 2016		September 2, 2016		September 30, 2016
Initial valuation of derivative liability	$	849,431
Derivate liability		849,431		739,393		482,339
Effect of conversion				(108,048)
Change in fair value				(1,990)		(257,054)

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Organization, Nature of Business, Going Concern and Management Plans (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jul. 06, 2015
Organization, Nature of Business, Going Concern and Management Plans [Line Items]
Entity Incorporation, Date of Incorporation	Jul. 02, 2013
Working Capital Deficit	$ 1,720,156
Common Stock Shares Offered				1,500,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001		$ 0.0001	$ 0.0001
Share Price				$ 0.50
Accumulated deficit	$ 5,357,740		$ 3,107,263
Proceeds from Convertible Debt	$ 480,000	$ 0

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Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2015
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Annual dividend yield	0.00%
Expected life (years)	6 months
Risk-free interest rate	0.52%
Expected volatility	260.00%

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Summary of Significant Accounting Policies (Details 1) - USD ($)	Sep. 30, 2016	Sep. 02, 2016	Sep. 01, 2016	Dec. 31, 2015	Sep. 30, 2015
Liabilities
Embedded derivative liabilities	$ 482,339
Total	482,339	$ 739,393	$ 849,431	0	$ 482,339
Fair Value, Inputs, Level 1 [Member]
Liabilities
Embedded derivative liabilities	0			0
Total	0			0
Fair Value, Inputs, Level 2 [Member]
Liabilities
Embedded derivative liabilities	0			0
Total	0			0
Fair Value, Inputs, Level 3 [Member]
Liabilities
Embedded derivative liabilities	482,339			0
Total	$ 482,339			$ 0

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Summary of Significant Accounting Policies (Details Textual) - USD ($)		3 Months Ended		9 Months Ended
	Sep. 02, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 01, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Change In Fair Value of Derivative Liability	$ (1,990)	$ (259,044)		$ (259,044)
Revenues		519	$ 0	5,019	$ 0
Derivative Liability, Current	$ 739,393	$ 482,339	$ 482,339	482,339	$ 482,339	$ 849,431	$ 0
Internet Chess Show [Member]
Finite-Lived Intangible Assets [Line Items]
Revenues				4,500
Annual Membership Fees [Member]
Finite-Lived Intangible Assets [Line Items]
Revenues				$ 519

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Related Party Transactions and Balances (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Related Party Transaction [Line Items]
Management Fee Expense	$ 75,000	$ 75,000	$ 225,000	$ 225,000
Majority Shareholder [Member]
Related Party Transaction [Line Items]
Management Fee Expense			$ 225,000	$ 225,000

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Shareholder Advances (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Shareholder Advances [Line Items]
Due to Officers or Stockholders, Current	$ 131,026		$ 195,436
Repayments of Related Party Debt	$ 167,043	$ 0

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Convertible Promissory Notes (Details) - USD ($)			3 Months Ended	9 Months Ended
	Sep. 02, 2016	Sep. 01, 2016	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Initial valuation of derivative liability		$ 849,431	$ 849,431	$ 849,431
Derivate liability	$ 739,393	$ 849,431	482,339	482,339	$ 0	$ 482,339
Effect of conversion	(108,048)
Change in fair value	$ (1,990)		$ (259,044)	$ (259,044)

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Convertible Promissory Notes (Details Textual) - USD ($)				9 Months Ended
	Sep. 02, 2016	Sep. 01, 2016	Jul. 14, 2016	Sep. 30, 2016	Sep. 15, 2016	Mar. 01, 2016	Dec. 31, 2015	Jul. 06, 2015
Common Stock, Par or Stated Value Per Share				$ 0.0001			$ 0.0001	$ 0.0001
Convertible Promissory Notes [Member]
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger			52.00%	45.00%
Debt Instrument, Interest Rate, Stated Percentage			8.00%	24.00%
Interest Expense, Debt				$ 49,336
Common Stock, Par or Stated Value Per Share				$ 0.0001
Debt Conversion Beneficial Ownership Percentage			4.99%	4.99%
Debt Instrument, Maturity Date			Nov. 19, 2016	Sep. 01, 2016
Redeemable Convertible Debt [Member]
Convertible Notes Payable				$ 75,000
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger				52.00%
Debt Instrument, Interest Rate, Stated Percentage				8.00%
Debt Conversion Beneficial Ownership Percentage				4.99%
Debt Instrument, Maturity Date				May 19, 2017
Convertible Note Two [Member]
Convertible Notes Payable	$ 150,000					$ 150,000
Debt Instrument, Maturity Date	Sep. 01, 2016
Debt Conversion, Original Debt, Amount		$ 38,250
Convertible Note Three [Member]
Convertible Notes Payable						$ 150,000
Debt Instrument, Maturity Date		Sep. 01, 2016
Convertible Note Four [Member]
Convertible Notes Payable			$ 75,000
Convertible Note Five [Member]
Convertible Notes Payable					$ 30,000

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Stockholders' Deficit (Details Textual) - USD ($)	1 Months Ended		9 Months Ended		12 Months Ended
	Oct. 31, 2016	May 17, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Nov. 25, 2015	Jul. 06, 2015
Stockholders' Deficit [Line Items]
Common Stock, Shares Authorized			100,000,000		100,000,000
Common Stock, Shares, Issued			33,180,000		20,650,000
Common Stock, Shares, Outstanding			33,180,000		20,650,000
Stock Issued During Period, Shares, New Issues		65,000
Common Stock, Par or Stated Value Per Share			$ 0.0001		$ 0.0001		$ 0.0001
Preferred Stock, Shares Authorized			20,000,000		20,000,000
Preferred Stock, Par or Stated Value Per Share			$ 0.0001		$ 0.0001
Equity Issuance Per Share		$ 0.50
Stock Issued During Period, Value, New Issues		$ 32,500
Proceeds from Issuance of Common Stock			$ 20,000	$ 0	$ 12,500
Restricted Stock [Member]
Stockholders' Deficit [Line Items]
Common Stock, Shares, Issued			24,565,000
Common Stock, Shares, Outstanding			24,565,000
Management Services [Member]
Stockholders' Deficit [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance			1,960,000
Management Services [Member] | Subsequent Event [Member]
Stockholders' Deficit [Line Items]
Stock Issued During Period, Shares, Issued for Services	1,880,000
Capitalization [Member]
Stockholders' Deficit [Line Items]
Common Stock, Shares Authorized			100,000,000
Common Stock, Shares, Outstanding			35,060,000
Common Stock, Par or Stated Value Per Share			$ 0.0001
Preferred Stock, Shares Authorized			20,000,000
Preferred Stock, Par or Stated Value Per Share			$ 0.0001
Directors and Officers [Member] | Management Services [Member]
Stockholders' Deficit [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross			12,465,000
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 1,338,288
Common Stock, Capital Shares Reserved for Future Issuance						10,000,000

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Subsequent Events (Details Textual)	1 Months Ended
	Oct. 31, 2016 shares
Advisory And Other Services [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Issued for Services	1,580,000