10-Q Filing

TEXAS GULF ENERGY INC CIK: 1429627 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-047804`
Period End Date	20110630
Filing Date	20110816
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	bocl-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 45 Cash Flow Statement 40

Balance Sheet 41 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$877.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$989.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.19K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$877.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$989.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Assets	`Assets`	$989.00	USD	Point-in-time
Total Assets	`Assets`	$877.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	1.40B	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	1.40B	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	495.29M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	188.81M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.27K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$41.54K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	188.81M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	495.29M	shares	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$120.08K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$122.56K	USD	Point-in-time
Note payable to related party - current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$29.96K	USD	Point-in-time
Note payable to related party - current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$41.97K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$153.78K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$203.59K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$20.00K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$20.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$173.78K	USD	Point-in-time
Total Liabilities	`Liabilities`	$223.59K	USD	Point-in-time
Common Stock, $0.00001 par value, 1,400,000,000 shares authorized; 495,287,619 and 188,810,000 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$2.70K	USD	Point-in-time
Common Stock, $0.00001 par value, 1,400,000,000 shares authorized; 495,287,619 and 188,810,000 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$1.89K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$1.51M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$1.27M	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$1.74M	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$1.45M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-172.79K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-222.72K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$989.00	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$877.00	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	16 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$130.89K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.07K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.92K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$33.33K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$986.42K	USD	16 Qtrs
Compensation to officer for services	`OfficersCompensation`	$5.00K	USD	1 Quarter
Compensation to officer for services	`OfficersCompensation`	$168.25K	USD	16 Qtrs
Compensation to officer for services	`OfficersCompensation`	$156.25K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$287.14K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.15M	USD	16 Qtrs
Total Operating Expenses	`OperatingExpenses`	$12.07K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$35.92K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$33.33K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.10K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.98K	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.44K	USD	16 Qtrs
Impairment of investment in joint ventures	`AssetImpairmentCharges`	$577.00K	USD	16 Qtrs
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-1.98K	USD	2 Qtrs
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-1.10K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-579.44K	USD	16 Qtrs
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.73M	USD	16 Qtrs
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-37.02K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-289.12K	USD	2 Qtrs
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-12.07K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-33.33K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.60K	USD	16 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$800.00	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-289.92K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-33.33K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-37.02K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.74M	USD	16 Qtrs
Net Loss	`NetIncomeLoss`	$-12.07K	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	81.81M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	418.15M	shares	2 Qtrs
Weighted average number of common shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	515.85M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	81.81M	shares	2 Qtrs

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.74M	USD	16 Qtrs
Net loss	`NetIncomeLoss`	$-12.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-289.92K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-37.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-33.33K	USD	2 Qtrs
Impairment of stock issued for joint ventures	`AssetImpairmentCharges`	$577.00K	USD	16 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.33K	USD	2 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$41.54K	USD	16 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$40.28K	USD	2 Qtrs
Increase in advances from related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$202.99K	USD	16 Qtrs
Increase in advances from related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$33.19K	USD	2 Qtrs
Increase in advances from related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$50.48K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-112.00	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-73.12K	USD	16 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.19K	USD	2 Qtrs
CASH FLOWS FROM INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
CASH FLOWS FROM INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	16 Qtrs
CASH FLOWS FROM INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Cash proceeds from notes payable	`ProceedsFromNotesPayable`	$20.00K	USD	16 Qtrs
Cash proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$54.00K	USD	16 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$74.00K	USD	16 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.19K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-112.00	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$877.00	USD	16 Qtrs
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$877.00	USD	Point-in-time
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$989.00	USD	Point-in-time
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.19K	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$989.00	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.19K	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$877.00	USD	Point-in-time
Interest	`InterestPaid`	-	USD	16 Qtrs
Interest	`InterestPaid`	-	USD	2 Qtrs
Interest	`InterestPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	16 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Conversion of advances to demand note payable	`DebtConversionConvertedInstrumentAmount1`	$40.94K	USD	16 Qtrs
Conversion of advances to demand note payable	`DebtConversionConvertedInstrumentAmount1`	$40.94K	USD	2 Qtrs
Conversion of demand note payable to common stock	`IssuanceOfCommonStockInExchangeForConvertibleNotes`	$40.94K	USD	2 Qtrs
Conversion of demand note payable to common stock	`IssuanceOfCommonStockInExchangeForConvertibleNotes`	$40.94K	USD	16 Qtrs

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