10-K Filing

PLEDGE PETROLEUM CORP CIK: 1434110 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001144204-19-019899`
Period End Date	20181231
Filing Date	20190416
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	prop-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 22 Income Statement 14 Cash Flow Statement 17 Stockholders Equity 7

Balance Sheet 22 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$21.14K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$11.27K	USD	Point-in-time
Prepaid stock compensation related party	`EmployeePrepaidStockCompensation`	$133.33K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$165.74K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.88K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$1.75K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	484.26M	shares	Point-in-time
Total assets	`Assets`	$171.38K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	484.26M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$81.10K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$11.52K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$5.89K	USD	Point-in-time
Loan payable related party	`LoanPayableToRelatedPartyCurrent`	$5.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$103.51K	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, 484,256,464 shares issued and outstanding at December 31, 2018	`CommonStockValue`	$484.26K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-416.43K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.87K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$171.38K	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
Professional fees	`ProfessionalFees`	$7.32K	USD	1 Quarter
Directors fees	`DirectorFeesExpense`	$6.29K	USD	1 Quarter
Compensation related party	`CompensationExpenseRelatedParty`	$2.10K	USD	1 Quarter
Stock compensation related party	`ShareBasedCompensation`	$3.49K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.55K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$33.75K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-33.75K	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-33.75K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-33.75K	USD	1 Quarter
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$1.14K	USD	1 Quarter
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-34.89K	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.36M	shares	1 Quarter

Cash Flow Statement 17 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-33.75K	USD	1 Quarter
Depreciation	`Depreciation`	$421.00	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$3.49K	USD	1 Quarter
Cash acquired in merger	`CashAcquiredFromAcquisition`	$30.71K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.69K	USD	1 Quarter
Accounts payable and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.84K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$6.21K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.24K	USD	1 Quarter
Loans from a related party	`ProceedsFromRelatedPartyDebt`	$5.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.00K	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.24K	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.14K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.14K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.87K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Common stock sold for cash	`StockIssuedDuringPeriodValueNewIssues`	$100.00	USD	1 Quarter
Effects of recapitalization from reverse acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$101.52K	USD	1 Quarter
Net loss from August 22, 2018 (date of inception) through December 31, 2018	`NetIncomeLoss`	$-33.75K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.87K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.