DEBT AND DUE TO RELATED PARTY	9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT AND DUE TO RELATED PARTY	NOTE 3—DEBT AND DUE TO RELATED PARTY From May, 2016, through July, 2016, as part of the AAA Century Group Transaction, the Company entered into settlement agreements with all debt holders of the Company. As a result of the settlement agreements, the Company recognized a gain on debt settlement in the amount of $164,670. As of September 30, 2016, all previous debt holders have settled with the Company, and there are no liabilities owed to any of these former debt holders. On April 8, 2011, the Company entered into a Promissory note with Doug Brackin (a related party) for a total of $62,500. From time to time, Doug Brackin advanced to the Company funds to cover operating expenses. On April 25, 2015, the Company entered into a definitive agreement to sell all of the membership interests in Brackin O’Connor, LLC to the original members of Brackin O’Connor, LLC for $25,000 which was used to fully pay the remaining Note Payable principal balance and reduced accrued interest. As of December 31, 2015, Brackin was owed $25,720 in accrued interest. On June 30, 2016, the company wrote off the interest in complete fulfillment of all outstanding obligations. From time to time, Cardiff Partners, LLC (a related party) had advanced to the Company funds to cover operating expenses. The advance bears interest at a rate of 1% per month. The Company entered into a settlement agreement with Cardiff Partners, LLC for the balance of $11,309 and accrued interest of $16,231 and settled both amounts for a total of $25,648 resulting in gain of $1,893 during the quarter ended September 30, 2016. Interest expense totaled $332 and $2,108 for the nine months ended September 30, 2016 and 2015, respectively. On September 14, 2013, the Company entered into various promissory notes (“Notes”) for a total of $215,000 due on December 31, 2014. The Notes accrued interest at a rate of 1.0% per month. The Company entered into settlement agreements with the promissory noteholders. The total amount owed for principal was $215,000, of which $190,000 was paid off at the change in ownership. The remaining amount plus accrued interest was extinguished, resulting in a gain of $87,308. Interest expense totaled $5,360 and $16,081 for the nine months ended September 30, 2016 and 2015, respectively. On February 7, 2015, the Company issued and sold a $12,000 Note due May 7, 2015. The proceeds to the Company were $8,000 and the Company recorded an Original Issue Discount (“OID”) of $4,000 which will be amortized over the life of the note. As noted above, the Company entered into a settlement agreements with the noteholder resulting in the pay off and extinguishment of the note. Interest expense totaled $0 and $4,000 for the nine months ended September 30, 2016 and 2015, respectively. A total gain of $2,000 was recognized as a result of this debt settlement.

DEBT AND DUE TO RELATED PARTY

9 Months Ended

Sep. 30, 2016

NOTE 3—DEBT AND DUE TO RELATED PARTY

From May, 2016, through July, 2016, as part of the AAA Century Group Transaction, the Company entered into settlement agreements with all debt holders of the Company. As a result of the settlement agreements, the Company recognized a gain on debt settlement in the amount of $164,670. As of September 30, 2016, all previous debt holders have settled with the Company, and there are no liabilities owed to any of these former debt holders.

On April 8, 2011, the Company entered into a Promissory note with Doug Brackin (a related party) for a total of $62,500. From time to time, Doug Brackin advanced to the Company funds to cover operating expenses. On April 25, 2015, the Company entered into a definitive agreement to sell all of the membership interests in Brackin O’Connor, LLC to the original members of Brackin O’Connor, LLC for $25,000 which was used to fully pay the remaining Note Payable principal balance and reduced accrued interest. As of December 31, 2015, Brackin was owed $25,720 in accrued interest. On June 30, 2016, the company wrote off the interest in complete fulfillment of all outstanding obligations.

From time to time, Cardiff Partners, LLC (a related party) had advanced to the Company funds to cover operating expenses. The advance bears interest at a rate of 1% per month. The Company entered into a settlement agreement with Cardiff Partners, LLC for the balance of $11,309 and accrued interest of $16,231 and settled both amounts for a total of $25,648 resulting in gain of $1,893 during the quarter ended September 30, 2016. Interest expense totaled $332 and $2,108 for the nine months ended September 30, 2016 and 2015, respectively.

On September 14, 2013, the Company entered into various promissory notes (“Notes”) for a total of $215,000 due on December 31, 2014. The Notes accrued interest at a rate of 1.0% per month. The Company entered into settlement agreements with the promissory noteholders. The total amount owed for principal was $215,000, of which $190,000 was paid off at the change in ownership. The remaining amount plus accrued interest was extinguished, resulting in a gain of $87,308. Interest expense totaled $5,360 and $16,081 for the nine months ended September 30, 2016 and 2015, respectively.

On February 7, 2015, the Company issued and sold a $12,000 Note due May 7, 2015. The proceeds to the Company were $8,000 and the Company recorded an Original Issue Discount (“OID”) of $4,000 which will be amortized over the life of the note. As noted above, the Company entered into a settlement agreements with the noteholder resulting in the pay off and extinguishment of the note. Interest expense totaled $0 and $4,000 for the nine months ended September 30, 2016 and 2015, respectively. A total gain of $2,000 was recognized as a result of this debt settlement.

AAA CENTURY GROUP USA, INC. 10-Q