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Organization, Consolidation and Presentation of Financial Statements
 12 Months Ended
Dec. 31, 2011
Organization, Consolidation and Presentation of Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

NOTE 1 - Summary of Significant Accounting Policies

 

a.         Organization & Summary of Significant Accounting Policies

 

Globalwise Investments, Inc. (the Company) was incorporated October 3, 1997 as a Utah corporation. On July 12, 2000, the Company changed its domicile to Nevada. 

 

b.         Cash and Cash Equivalents

 

The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents.

 

c.         Use of estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

 

            d.         Fair Value of Notes Payable

 

It is not practicable to estimate the fair value of notes payable because there is no established market for these loans and it is inappropriate to estimate future cash flows, which are largely dependent on the Company establishing or acquiring operations at some future point.  No financial instruments are held for trading purposes.

 

            e.         Reclassification

 

Certain amounts in prior-year financial statements have been reclassified for comparative purposes to conform to the presentation in the current year financial statements.

 

            f.          Earnings Per Share

 

The computation of earnings per share of common stock is based on the weighted average number of shares outstanding at the date of the financial statements.

 

 

 

 

 

For the Years Ended

December 31,

 

2011

2010

Net Loss (numerator)

$        (15,812)

$          (6,262)

Weighted Average Number of Shares  

Outstanding (denominator)

 

4,556,000 

 

4,556,000 

Basic Loss per Common Share

$            (0.00)

$            (0.00)

 

For the years ended December 31, 2011 and 2010, the Company had no potentially dilutive common stock equivalents issued.

 

NOTE 2 - Going Concern

 

            The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  The Company has current liabilities in excess of current assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.  It is management’s plan to acquire or merge with other operating companies.