10-Q Filing

OCTAGON 88 RESOURCES, INC. CIK: 1444837 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001524777-13-000072`
Period End Date	20121231
Filing Date	20130219
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	octx-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 32 Income Statement 63 Cash Flow Statement 69

Balance Sheet 32 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
Common stock, shares issued	`CommonStockSharesIssued`	21.24M	shares	Point-in-time
Cash	`Cash`	$7.26K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.14M	shares	Point-in-time
Cash	`Cash`	$355.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.26K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$355.00	USD	Point-in-time
Investment in North Star (Note 4)	`OtherInvestments`	$44.10M	USD	Point-in-time
Investment in North Star (Note 4)	`OtherInvestments`	-	USD	Point-in-time
Total assets	`Assets`	$355.00	USD	Point-in-time
Total assets	`Assets`	$44.11M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$22.55K	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`	-	USD	Point-in-time
Advances from third party	`AdvancesThirdPartyBS`	$7.00K	USD	Point-in-time
Advances from third party	`AdvancesThirdPartyBS`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.69K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.55K	USD	Point-in-time
Common stock, $0.0001 par value, 400,000,000 authorized, 21,235,473 and 39,142,000 shares issued and outstanding as at December 31, 2012 and June 30, 2012 respectively	`CommonStockValue`	$3.91K	USD	Point-in-time
Common stock, $0.0001 par value, 400,000,000 authorized, 21,235,473 and 39,142,000 shares issued and outstanding as at December 31, 2012 and June 30, 2012 respectively	`CommonStockValue`	$2.12K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$44.24M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$100.35K	USD	Point-in-time
(Deficit) accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$162.03K	USD	Point-in-time
(Deficit) accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$142.59K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$44.08M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-38.34K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$44.11M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$355.00	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	18 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	2 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	18 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$18.64K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$18.10K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$21.77K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$122.27K	USD	18 Qtrs
Professional fees	`ProfessionalFees`	$7.86K	USD	1 Quarter
Loss on undeveloped , unproven properties	`AssetImpairmentCharges`	$15.00K	USD	18 Qtrs
Loss on undeveloped , unproven properties	`AssetImpairmentCharges`	-	USD	2 Qtrs
Loss on undeveloped , unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped , unproven properties	`AssetImpairmentCharges`	-	USD	2 Qtrs
Loss on undeveloped , unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$11.56K	USD	18 Qtrs
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$787.00	USD	2 Qtrs
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$906.00	USD	2 Qtrs
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$285.00	USD	1 Quarter
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$630.00	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$8.49K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$162.03K	USD	18 Qtrs
Total operating expenses	`CostsAndExpenses`	$18.39K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$19.43K	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$22.68K	USD	2 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-22.68K	USD	2 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-162.03K	USD	18 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-8.49K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-19.43K	USD	2 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-18.39K	USD	1 Quarter
Other income (expense):	`OtherExpenses`	-	USD	2 Qtrs
Other income (expense):	`OtherExpenses`	-	USD	2 Qtrs
Other income (expense):	`OtherExpenses`	-	USD	18 Qtrs
Other income (expense):	`OtherExpenses`	-	USD	1 Quarter
Other income (expense):	`OtherExpenses`	-	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-22.68K	USD	2 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-18.39K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-19.43K	USD	2 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-8.49K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-162.03K	USD	18 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	18 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-19.43K	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-162.03K	USD	18 Qtrs
Net (loss)	`NetIncomeLoss`	$-22.68K	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-8.49K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-18.39K	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Basic and diluted earnings (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Basic and diluted earnings (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.14M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.77M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.96M	shares	2 Qtrs
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.14M	shares	2 Qtrs

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-19.43K	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-162.03K	USD	18 Qtrs
Net (loss)	`NetIncomeLoss`	$-22.68K	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-8.49K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-18.39K	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	-	USD	2 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	18 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	2 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	$15.00K	USD	18 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	2 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	2 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$7.57K	USD	2 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$19.25K	USD	2 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$28.47K	USD	18 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-5.91K	USD	2 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$23.56K	USD	18 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$15.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.09K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-81.80K	USD	18 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-102.00	USD	2 Qtrs
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	2 Qtrs
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	$-15.00K	USD	18 Qtrs
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	2 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.00K	USD	18 Qtrs
Advances from third party	`AdvancesThirdParty`	$13.00K	USD	18 Qtrs
Advances from third party	`AdvancesThirdParty`	-	USD	2 Qtrs
Advances from third party	`AdvancesThirdParty`	$13.00K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$106.06K	USD	18 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	2 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-15.00K	USD	18 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.00K	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$104.06K	USD	18 Qtrs
Net cash flows	`CashPeriodIncreaseDecrease`	$-102.00	USD	2 Qtrs
Net cash flows	`CashPeriodIncreaseDecrease`	$7.26K	USD	18 Qtrs
Net cash flows	`CashPeriodIncreaseDecrease`	$6.91K	USD	2 Qtrs
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$7.26K	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$524.00	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$422.00	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$7.26K	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$524.00	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$422.00	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	18 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	18 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Accounts payable settled by issuance of shares (note 5)	`AccountsPayableSettledWithShares`	-	USD	2 Qtrs
Accounts payable settled by issuance of shares (note 5)	`AccountsPayableSettledWithShares`	$35.47K	USD	2 Qtrs
Accounts payable settled by issuance of shares (note 5)	`AccountsPayableSettledWithShares`	$35.47K	USD	18 Qtrs
Shares issued to acquire interest North Star (note 3)	`SharesIssuedToAcquireNorthStar`	$44.10M	USD	2 Qtrs
Shares issued to acquire interest North Star (note 3)	`SharesIssuedToAcquireNorthStar`	-	USD	2 Qtrs
Shares issued to acquire interest North Star (note 3)	`SharesIssuedToAcquireNorthStar`	$44.10M	USD	18 Qtrs
Total Non Cash Transactions	`TotalNonCashTransactions`	$44.14M	USD	18 Qtrs
Total Non Cash Transactions	`TotalNonCashTransactions`	$44.14M	USD	2 Qtrs

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