10-Q Filing

OCTAGON 88 RESOURCES, INC. CIK: 1444837 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001524777-13-000504`
Period End Date	20130930
Filing Date	20131113
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	octx-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 33 Income Statement 42 Cash Flow Statement 73

Balance Sheet 33 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`	26.55M	shares	Point-in-time
Cash	`Cash`	$108.59K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.55M	shares	Point-in-time
Cash	`Cash`	$59.74K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$108.59K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$59.74K	USD	Point-in-time
Long-term investments accounted for under the equity method (Note 3)	`EquityMethodInvestments`	$61.09M	USD	Point-in-time
Long-term investments accounted for under the equity method (Note 3)	`EquityMethodInvestments`	$60.99M	USD	Point-in-time
Long-term investments accounted for under the equity method (Note 3)	`EquityMethodInvestments`	-	USD	Point-in-time
Total assets	`Assets`	$61.05M	USD	Point-in-time
Total assets	`Assets`	$61.20M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$20.57K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.97K	USD	Point-in-time
Advances from shareholders	`DueToRelatedPartiesCurrent`	$19.17K	USD	Point-in-time
Advances from shareholders	`DueToRelatedPartiesCurrent`	$19.17K	USD	Point-in-time
Investor deposit	`InvestorDepositCurrent`	$122.98K	USD	Point-in-time
Investor deposit	`InvestorDepositCurrent`	$167.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$207.61K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$150.11K	USD	Point-in-time
Common stock, $0.0001 par value, 400,000,000 authorized, 26,545,473 shares issued and outstanding as at September 30, 2013 and June 30, 2013 respectively	`CommonStockValue`	$2.65K	USD	Point-in-time
Common stock, $0.0001 par value, 400,000,000 authorized, 26,545,473 shares issued and outstanding as at September 30, 2013 and June 30, 2013 respectively	`CommonStockValue`	$2.65K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$61.76M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$61.76M	USD	Point-in-time
(Deficit) accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$714.61K	USD	Point-in-time
(Deficit) accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$924.55K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$60.84M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$61.05M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$61.20M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$61.05M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	21 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$29.07K	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	-	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$29.07K	USD	21 Qtrs
Services contributed by officers	`NoncashContributionExpense`	$13.20K	USD	21 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$10.78K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$18.80K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$159.24K	USD	21 Qtrs
Investor relations fees	`InvestorRelationsFees`	$51.45K	USD	21 Qtrs
Investor relations fees	`InvestorRelationsFees`	$51.45K	USD	1 Quarter
Investor relations fees	`InvestorRelationsFees`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	$15.00K	USD	21 Qtrs
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$7.04K	USD	1 Quarter
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$158.00	USD	1 Quarter
Other general and administrative expenses	`GeneralAndAdministrativeExpense`	$19.65K	USD	21 Qtrs
Total operating expenses	`CostsAndExpenses`	$10.94K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$287.61K	USD	21 Qtrs
Total operating expenses	`CostsAndExpenses`	$106.35K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-106.35K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-287.61K	USD	21 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-10.94K	USD	1 Quarter
Gain (losses) equity investments, net	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Gain (losses) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$-103.59K	USD	1 Quarter
Gain (losses) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$-636.95K	USD	21 Qtrs
Gain (losses) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$-533.36K	USD	Annual
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-10.94K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-209.94K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-924.55K	USD	21 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	21 Qtrs
Net (loss)	`NetIncomeLoss`	$-209.94K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-10.94K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-924.55K	USD	21 Qtrs
Basic and diluted earnings (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.55M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.16M	shares	1 Quarter

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-209.94K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-10.94K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-924.55K	USD	21 Qtrs
Services contributed by officers	`NoncashContributionExpense`	$13.20K	USD	21 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Services contributed by officers	`NoncashContributionExpense`	-	USD	1 Quarter
Share of (loss) of equity accounted investees	`GainLossOnInvestments`	$636.95K	USD	21 Qtrs
Share of (loss) of equity accounted investees	`GainLossOnInvestments`	-	USD	1 Quarter
Share of (loss) of equity accounted investees	`GainLossOnInvestments`	$103.59K	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	$15.00K	USD	21 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$26.48K	USD	21 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$5.54K	USD	1 Quarter
Accounts payable, trade	`IncreaseDecreaseInAccountsPayable`	$12.60K	USD	1 Quarter
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$23.56K	USD	21 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$4.92K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-486.00	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-209.37K	USD	21 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-93.75K	USD	1 Quarter
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	1 Quarter
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	$-15.00K	USD	21 Qtrs
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.00K	USD	21 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Advances from shareholders	`IncreaseDecreaseInDueToRelatedParties`	$19.17K	USD	21 Qtrs
Advances from shareholders	`IncreaseDecreaseInDueToRelatedParties`	$5.91K	USD	1 Quarter
Advances from shareholders	`IncreaseDecreaseInDueToRelatedParties`	-	USD	1 Quarter
Advances from third party	`AdvancesThirdParty`	$6.00K	USD	21 Qtrs
Advances from third party	`AdvancesThirdParty`	-	USD	1 Quarter
Advances from third party	`AdvancesThirdParty`	-	USD	1 Quarter
Investor deposit	`IncreaseDecreaseInvestorDeposits`	$44.90K	USD	1 Quarter
Investor deposit	`IncreaseDecreaseInvestorDeposits`	-	USD	1 Quarter
Investor deposit	`IncreaseDecreaseInvestorDeposits`	$167.88K	USD	21 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$106.06K	USD	21 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-15.00K	USD	21 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	1 Quarter
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$44.90K	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.91K	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$284.10K	USD	21 Qtrs
Net cash flows	`CashPeriodIncreaseDecrease`	$5.43K	USD	1 Quarter
Net cash flows	`CashPeriodIncreaseDecrease`	$-48.86K	USD	1 Quarter
Net cash flows	`CashPeriodIncreaseDecrease`	$59.74K	USD	21 Qtrs
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$59.74K	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$108.59K	USD	Point-in-time
Cash and equivalent, beginning of period	`CashEquivalentsAtCarryingValue`	$5.78K	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$59.74K	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$108.59K	USD	Point-in-time
Cash and equivalent, end of period	`CashEquivalentsAtCarryingValue`	$5.78K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	21 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	21 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Accounts payable settled by issuance of shares (note 5)	`AccountsPayableSettledWithShares`	-	USD	1 Quarter
Accounts payable settled by issuance of shares (note 5)	`AccountsPayableSettledWithShares`	$35.47K	USD	1 Quarter
Accounts payable settled by issuance of shares (note 5)	`AccountsPayableSettledWithShares`	$35.47K	USD	21 Qtrs
Shares issued to acquire interest North Star (note 3)	`SharesIssuedToAcquireNorthStar`	$61.62M	USD	21 Qtrs
Shares issued to acquire interest North Star (note 3)	`SharesIssuedToAcquireNorthStar`	-	USD	1 Quarter
Shares issued to acquire interest North Star (note 3)	`SharesIssuedToAcquireNorthStar`	-	USD	1 Quarter
Total Non Cash Transactions	`TotalNonCashTransactions`	$61.66M	USD	21 Qtrs
Total Non Cash Transactions	`TotalNonCashTransactions`	-	USD	1 Quarter
Total Non Cash Transactions	`TotalNonCashTransactions`	$35.47K	USD	1 Quarter

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