10-Q Filing

OCTAGON 88 RESOURCES, INC. CIK: 1444837 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001524777-12-000426`
Period End Date	20120930
Filing Date	20121114
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	octx-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 28 Income Statement 34 Cash Flow Statement 61

Balance Sheet 28 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Cash	`Cash`	$355.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.14M	shares	Point-in-time
Cash	`Cash`	$5.78K	USD	Point-in-time
Total assets	`Assets`	$5.78K	USD	Point-in-time
Total assets	`Assets`	$355.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.29K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.75K	USD	Point-in-time
Accounts payable, related parties	`AccountsPayableRelatedPartiesCurrent`	$35.94K	USD	Point-in-time
Accounts payable, related parties	`AccountsPayableRelatedPartiesCurrent`	$5.38K	USD	Point-in-time
Advances payable	`AdvancesPayable`	-	USD	Point-in-time
Advances payable	`AdvancesPayable`	$5.91K	USD	Point-in-time
Total current liabilities:	`LiabilitiesCurrent`	$38.69K	USD	Point-in-time
Total current liabilities:	`LiabilitiesCurrent`	$19.59K	USD	Point-in-time
Common stock, $0.0001 par value, 400,000,000 authorized, 39,177,473 and 39,142,000 shares issued and outstanding as at September 30, 2012 and June 30, 2012, respectively	`CommonStockValue`	$3.92K	USD	Point-in-time
Common stock, $0.0001 par value, 400,000,000 authorized, 39,177,473 and 39,142,000 shares issued and outstanding as at September 30, 2012 and June 30, 2012, respectively	`CommonStockValue`	$3.91K	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$135.81K	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$100.35K	USD	Point-in-time
(Deficit) accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$142.59K	USD	Point-in-time
(Deficit) accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$153.54K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-38.34K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-13.80K	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.78K	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$355.00	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	17 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	$13.20K	USD	17 Qtrs
Professional fees	`ProfessionalFees`	$10.78K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$3.67K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$114.41K	USD	17 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	$15.00K	USD	17 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$621.00	USD	1 Quarter
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$10.93K	USD	17 Qtrs
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$158.00	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$10.94K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$153.54K	USD	17 Qtrs
Total operating expenses	`CostsAndExpenses`	$4.29K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-10.94K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-153.54K	USD	17 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-4.29K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-10.94K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-153.54K	USD	17 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-4.29K	USD	1 Quarter
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	17 Qtrs
Net (loss)	`NetIncomeLoss`	$-10.94K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-4.29K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-153.54K	USD	17 Qtrs
Basic earnings (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic earnings (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.16M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.14M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-10.94K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-4.29K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-153.54K	USD	17 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	$13.20K	USD	17 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	$15.00K	USD	17 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	17 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-6.13K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$5.54K	USD	1 Quarter
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$378.00	USD	1 Quarter
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$8.29K	USD	17 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$4.92K	USD	1 Quarter
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$40.86K	USD	17 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$10.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-41.00	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-76.19K	USD	17 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-486.00	USD	1 Quarter
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	1 Quarter
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	1 Quarter
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	$-15.00K	USD	17 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.00K	USD	17 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$106.06K	USD	17 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	1 Quarter
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-15.00K	USD	17 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	1 Quarter
Advances payable	`IncreaseDecreaseAdvancesPayable`	$5.91K	USD	1 Quarter
Advances payable	`IncreaseDecreaseAdvancesPayable`	-	USD	1 Quarter
Advances payable	`IncreaseDecreaseAdvancesPayable`	$5.91K	USD	17 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.91K	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$96.97K	USD	17 Qtrs
Net cash flows	`CashPeriodIncreaseDecrease`	$5.43K	USD	1 Quarter
Net cash flows	`CashPeriodIncreaseDecrease`	$5.78K	USD	17 Qtrs
Net cash flows	`CashPeriodIncreaseDecrease`	$-41.00	USD	1 Quarter
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$5.78K	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$524.00	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$483.00	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$5.78K	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$524.00	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$483.00	USD	Point-in-time
Cash paid for Interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for Interest	`InterestPaid`	-	USD	17 Qtrs
Cash paid for Interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	17 Qtrs
Stock paid to settle debt	`StockIssuedToSettleDebt`	$35.47K	USD	17 Qtrs
Stock paid to settle debt	`StockIssuedToSettleDebt`	-	USD	1 Quarter
Stock paid to settle debt	`StockIssuedToSettleDebt`	$35.47K	USD	1 Quarter

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