10-Q/A Filing

OCTAGON 88 RESOURCES, INC. CIK: 1444837 Q3 2014

Filing Information

Form Type	10-Q/A
Accession Number	`0001594062-14-000202`
Period End Date	20140331
Filing Date	20140612
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	octx-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 36 Income Statement 83 Cash Flow Statement 96

Balance Sheet 36 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
Cash	`Cash`	$503.77K	USD	Point-in-time
Cash	`Cash`	$108.59K	USD	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
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$366.00	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	26.93M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$504.14K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$108.59K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	26.93M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	26.55M	shares	Point-in-time
Long-term investments accounted for under the equity method (Note 3)	`EquityMethodInvestments`	$61.15M	USD	Point-in-time
Long-term investments accounted for under the equity method (Note 3)	`EquityMethodInvestments`	$61.21M	USD	Point-in-time
Total assets	`Assets`	$61.71M	USD	Point-in-time
Total assets	`Assets`	$61.26M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$67.96K	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 deposits	`InvestorDepositCurrent`	-	USD	Point-in-time
Investor deposits	`InvestorDepositCurrent`	$122.98K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$150.11K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$87.13K	USD	Point-in-time
Common stock, $0.001 par value, 400,000,000 authorized, 26,932,342 and 26,545,473 shares issued and outstanding as at March 31, 2014 and June 30, 2013, respectively	`CommonStockValue`	$2.69K	USD	Point-in-time
Common stock, $0.001 par value, 400,000,000 authorized, 26,932,342 and 26,545,473 shares issued and outstanding as at March 31, 2014 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`	$68.61M	USD	Point-in-time
(Deficit) accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-6.99M	USD	Point-in-time
(Deficit) accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-650.12K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$61.11M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$61.62M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$61.71M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$61.26M	USD	Point-in-time

Income Statement 83 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	23 Qtrs
Exploration expenses	`ExplorationExpense`	$1.64K	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	-	USD	3 Qtrs
Exploration expenses	`ExplorationExpense`	$30.71K	USD	23 Qtrs
Exploration expenses	`ExplorationExpense`	$30.71K	USD	3 Qtrs
Exploration expenses	`ExplorationExpense`	-	USD	1 Quarter
Services contributed by officers	`NonCashContributionExpense`	$13.20K	USD	23 Qtrs
Services contributed by officers	`NonCashContributionExpense`	-	USD	3 Qtrs
Services contributed by officers	`NonCashContributionExpense`	-	USD	1 Quarter
Services contributed by officers	`NonCashContributionExpense`	-	USD	3 Qtrs
Services contributed by officers	`NonCashContributionExpense`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$136.47K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$276.92K	USD	23 Qtrs
Professional fees	`ProfessionalFees`	$1.46K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$20.10K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$42.32K	USD	1 Quarter
Investor relations fees	`InvestorRelationsFees`	-	USD	3 Qtrs
Investor relations fees	`InvestorRelationsFees`	$93.14K	USD	1 Quarter
Investor relations fees	`InvestorRelationsFees`	$161.19K	USD	3 Qtrs
Investor relations fees	`InvestorRelationsFees`	$161.19K	USD	23 Qtrs
Investor relations fees	`InvestorRelationsFees`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	3 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	$15.00K	USD	23 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$5.55M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$5.55M	USD	23 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$566.67K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$41.88K	USD	23 Qtrs
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$29.27K	USD	3 Qtrs
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.24K	USD	3 Qtrs
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$449.00	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$16.01K	USD	1 Quarter
Losses (gain) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$430.34K	USD	3 Qtrs
Losses (gain) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$263.88K	USD	1 Quarter
Losses (gain) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$16.35K	USD	3 Qtrs
Losses (gain) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$16.35K	USD	1 Quarter
Losses (gain) equity investments, net	`IncomeLossFromEquityMethodInvestments`	$899.21K	USD	23 Qtrs
Total operating expenses	`OperatingExpenses`	$6.34M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$37.68K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$18.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$983.66K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.99M	USD	23 Qtrs
Interest expense	`InterestExpense`	$-1.71K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	3 Qtrs
Interest expense	`InterestExpense`	$-1.71K	USD	23 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$-1.71K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.71K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.71K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.71K	USD	23 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.34M	USD	3 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.99M	USD	23 Qtrs
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.25K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-985.37K	USD	1 Quarter
(Loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-37.68K	USD	3 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	23 Qtrs
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision (credit) for taxes on income:	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-6.34M	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-6.99M	USD	23 Qtrs
Net (loss)	`NetIncomeLoss`	$-985.37K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-37.68K	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-18.25K	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	3 Qtrs
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted earnings (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.83M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.60M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.64M	shares	3 Qtrs
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.24M	shares	3 Qtrs

Cash Flow Statement 96 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-6.99M	USD	23 Qtrs
Net (loss)	`ProfitLoss`	$-37.68K	USD	3 Qtrs
Net (loss)	`ProfitLoss`	$-6.34M	USD	3 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	3 Qtrs
Services contributed by officers	`NoncashContributionExpense`	-	USD	3 Qtrs
Services contributed by officers	`NoncashContributionExpense`	$13.20K	USD	23 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$5.55M	USD	3 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$16.35K	USD	3 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$5.55M	USD	23 Qtrs
Share of (loss) of equity accounted investees	`GainLossOnInvestments`	-	USD	3 Qtrs
Share of (loss) of equity accounted investees	`GainLossOnInvestments`	$430.34K	USD	3 Qtrs
Share of (loss) of equity accounted investees	`GainLossOnInvestments`	$899.21K	USD	23 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	3 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	$15.00K	USD	23 Qtrs
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on undeveloped, unproven properties	`AssetImpairmentCharges`	-	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-366.00	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-366.00	USD	23 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$73.88K	USD	23 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$59.99K	USD	3 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$8.96K	USD	3 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$23.56K	USD	23 Qtrs
Accounts payable, related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-5.91K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-299.72K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-415.33K	USD	23 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-18.29K	USD	3 Qtrs
Long-term investments	`PaymentsToAcquireLongtermInvestments`	$-483.64K	USD	23 Qtrs
Long-term investments	`PaymentsToAcquireLongtermInvestments`	-	USD	3 Qtrs
Long-term investments	`PaymentsToAcquireLongtermInvestments`	$-483.64K	USD	3 Qtrs
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	3 Qtrs
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	-	USD	3 Qtrs
Acquisition of undeveloped, unproved properties	`CostsIncurredAcquisitionOfUnprovedOilAndGasProperties`	$-15.00K	USD	23 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-483.64K	USD	3 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-498.64K	USD	23 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Advances from stockholders	`IncreaseDecreaseInDueToRelatedParties`	$19.17K	USD	3 Qtrs
Advances from stockholders	`IncreaseDecreaseInDueToRelatedParties`	-	USD	3 Qtrs
Advances from stockholders	`IncreaseDecreaseInDueToRelatedParties`	$19.17K	USD	23 Qtrs
Advances from third party	`AdvancesFromThirdParty`	$6.00K	USD	3 Qtrs
Advances from third party	`AdvancesFromThirdParty`	-	USD	3 Qtrs
Advances from third party	`AdvancesFromThirdParty`	$6.00K	USD	23 Qtrs
Loan from related party	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Loan from related party	`ProceedsFromRelatedPartyDebt`	$75.00K	USD	23 Qtrs
Loan from related party	`ProceedsFromRelatedPartyDebt`	$75.00K	USD	3 Qtrs
Repayment loan from related party	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayment loan from related party	`RepaymentsOfRelatedPartyDebt`	$-75.00K	USD	3 Qtrs
Repayment loan from related party	`RepaymentsOfRelatedPartyDebt`	$-75.00K	USD	23 Qtrs
Loan from third party	`ProceedsFromLoans`	$50.00K	USD	3 Qtrs
Loan from third party	`ProceedsFromLoans`	-	USD	3 Qtrs
Loan from third party	`ProceedsFromLoans`	$50.00K	USD	23 Qtrs
Repayment on loan from third party	`RepaymentsOfDebt`	$-50.00K	USD	23 Qtrs
Repayment on loan from third party	`RepaymentsOfDebt`	-	USD	3 Qtrs
Repayment on loan from third party	`RepaymentsOfDebt`	$-50.00K	USD	3 Qtrs
Investor deposit	`IncreaseDecreaseInvestorDeposits`	$-122.98K	USD	3 Qtrs
Investor deposit	`IncreaseDecreaseInvestorDeposits`	-	USD	3 Qtrs
Investor deposit	`IncreaseDecreaseInvestorDeposits`	-	USD	23 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.47M	USD	23 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.36M	USD	3 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-60.00K	USD	3 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-75.00K	USD	23 Qtrs
Less, Applicable offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	3 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.42M	USD	23 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.17K	USD	3 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.18M	USD	3 Qtrs
Net cash flows	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.88K	USD	3 Qtrs
Net cash flows	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$503.77K	USD	23 Qtrs
Net cash flows	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$395.18K	USD	3 Qtrs
Cash and equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$108.59K	USD	Point-in-time
Cash and equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$503.77K	USD	Point-in-time
Cash and equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.23K	USD	Point-in-time
Cash and equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash and equivalent, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalent, end of period	`CashAndCashEquivalentsAtCarryingValue`	$108.59K	USD	Point-in-time
Cash and equivalent, end of period	`CashAndCashEquivalentsAtCarryingValue`	$503.77K	USD	Point-in-time
Cash and equivalent, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.23K	USD	Point-in-time
Cash and equivalent, end of period	`CashAndCashEquivalentsAtCarryingValue`	$355.00	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.71K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$1.71K	USD	23 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	23 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Accounts payable settled by issuance of shares	`AccountsPayableSettledByIssuanceOfShares`	$35.47K	USD	3 Qtrs
Accounts payable settled by issuance of shares	`AccountsPayableSettledByIssuanceOfShares`	-	USD	3 Qtrs
Accounts payable settled by issuance of shares	`AccountsPayableSettledByIssuanceOfShares`	$35.47K	USD	23 Qtrs
Shares issued to acquire interest North Star	`SharesIssuedToAcquireNorthStar`	$61.62M	USD	23 Qtrs
Shares issued to acquire interest North Star	`SharesIssuedToAcquireNorthStar`	-	USD	3 Qtrs
Shares issued to acquire interest North Star	`SharesIssuedToAcquireNorthStar`	$61.62M	USD	3 Qtrs
Total Non-Cash Transactions	`TotalNonCashTransactions`	$61.66M	USD	3 Qtrs
Total Non-Cash Transactions	`TotalNonCashTransactions`	$61.66M	USD	23 Qtrs
Total Non-Cash Transactions	`TotalNonCashTransactions`	-	USD	3 Qtrs

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