10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2017

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to __________

Commission file number: 000-55066

CHESS SUPERSITE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	46-3621499
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

1131A Leslie Street, Suite 101 Toronto, Ontario, Canada	M3C 3L8
(Address of principal executive officers)	(Zip Code)

+1 647-927-4644

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days. Yes x       No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x       No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer ¨	Accelerated filer ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)	Smaller reporting company x
	Emerging growth company  x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ¨.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨       No x

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date:

3,883,647,339 (3,883,648 – post reverse split) common stock outstanding as of November 3, 2017. 

TABLE OF CONTENTS

PART I FINANCIAL INFORMATION
Item 1.	Condensed Financial Statements (Unaudited)	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	9
Item 4.	Controls and Procedures	9
PART II OTHER INFORMATION
Item 1.	Legal Proceedings	9
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	9
Item 3.	Defaults Upon Senior Securities	10
Item 4.	Mine Safety Disclosures	10
Item 5.	Other Information	10
Item 6.	Exhibits	11

2

PART I – FINANCIAL INFORMATION

ITEM 1. CONDENSED FINANCIAL STATEMENTS.

CHESS SUPERSITE CORPORATION

CONDENSED FINANCIAL STATEMENTS

INDEX

Condensed Balance Sheets as of September 30, 2017 (Unaudited) and December 31, 2016	F-1
Condensed Statements of Operations for the three and nine months ended September 30, 2017 and 2016 (Unaudited)	F-2
Condensed Statements of Cash Flows for the nine months ended September 30, 2017 and 2016 (Unaudited)	F-3
Notes to Condensed Financial Statements (Unaudited)	F-4 – F-9

3

CHESS SUPERSITE CORPORATION

CONDENSED BALANCE SHEETS

	(Unaudited)
	September 30,			December 31,
	2017			2016
	$			$
ASSETS
Current assets
Cash		302			16,262
Accounts Receivable		13,882			—
Prepaid asset [Note 5]		-			140,000
		14,184			156,262
Long term assets
Intangible assets - net		127,546			137,611
Total long term assets		127,546			137,611
Total assets		141,730			293,873
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable and accrued liabilities		111,001			277,518
Payable to related parties [Note 3]		148,697			514,697
Shareholder advances [Note 4]		280,907			144,474
Convertible Promissory notes, net [Note 5]		546,096			701,519
Derivative liability [Note 5]		808,830			475,372
Total current liabilities		1,895,531			2,113,580
Total liabilities		1,895,531			2,113,580
Contingencies and commitments		—			—
Stockholders' deficit
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; 1,000,000 shares issued and outstanding as at September 30, 2017 (1,000,000 shares outstanding as at December 31, 2016) [Note 6]		100			100
Common stock, $0.0001 par value, 20,000,000,000 shares authorized, 3,883,647,339 (3,883,648 – post reverse split) common shares outstanding as at September 30, 2017 (35,644,874 (35,645 – post reverse split) common shares outstanding as at December 31, 2016) [Note 6]		388			4
Shares to be issued [Note 6]		73,000			52,000
Additional paid-in capital		4,680,864			3,580,120
Accumulated deficit		(6,508,153	)		(5,451,931	)
Total stockholders' deficit		(1,753,801	)		(1,819,707	)
Total liabilities and stockholders' deficit		141,730			293,873

The accompanying notes are an integral part of these unaudited condensed financial statements.

F-1

CHESS SUPERSITE CORPORATION

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the			For the			For the			For the
	three months ended			three months ended			nine months ended			nine months ended
	September 30, 2017			September 30,  2016			September 30, 2017			September 30,  2016
	$			$			$			$
REVENUE		188			519			15,343			5,019
OPERATING EXPENSES
Commitment fee [Note 5]		140,000			—			140,000			—
Advisory and consultancy fee		—			712,900			36,000			978,991
Management services fee to related parties [Note 3]		75,000			75,000			225,000			225,000
Legal and professional fees		34,706			26,696			91,107			78,880
Software development expense		17,359			10,000			70,246			134,990
Donation		—			—			—			45,000
Website development and marketing expenses		13,691			35,649			74,695			77,316
Rent and Utilities		5,152			5,733			15,029			13,263
Travel expenses		1,990			—			11,873			18,000
Amortization on intangibles		3,271			—			10,065			—
Office and general		199			19,924			402			13,061
Total operating expenses		291,368			885,902			674,417			1,584,501
OTHER INCOME AND EXPENSES
Change in fair value of derivative liability		136,764			590,387			543,202			590,387
Net (gain) loss on settlement of liability		-			34,290			(226,306	)		34,290
Interest and bank charges		22,593			25,167			80,520			45,314
Exchange (gain) loss		(918	)		414			(268	)		1,004
Net loss before income taxes		(449,619	)		(1,535,641	)		(1,056,222	)		(2,250,477	)
Income taxes		—			—			—			—
Net loss		(449,619	)		(1,535,641	)		(1,056,222	)		(2,250,477	)
Loss per share, basic and diluted		(0.291	)		(49.825	)		(1.695	)		(91.245	)
Weighted average shares - basic and diluted		1,544,411			30,821			623,314			24,664

The accompanying notes are an integral part of these unaudited condensed financial statements.

F-2

CHESS SUPERSITE CORPORATION

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the			For the
	nine months ended			nine months ended
	September 30, 2017			September 30, 2016
	$			$
OPERATING ACTIVITIES
Net loss for the period		(1,056,222	)		(2,250,477	)
Adjustment for non-cash items
Net (gain) loss on settlement of liability		(226,306	)		34,920
Change in fair value of derivative		543,202			590,387
Amortization expense		10.065			—
Shares issued/to be issued for advisory and other services		646,612			1,390,400
Changes in operating assets and liabilities:
Change in accounts payable and accrued liabilities		(248,862	)		(177,717	)
Change in accounts receivable		(13,882	)		(519	)
Change in prepaid asset		140,000			—
Net cash used in operating activities		(205,393	)		(413,006	)
FINANCING ACTIVITIES
Repayment of shareholder advances		(5,802	)		(167,043	)
Shareholder advances		142,235			102,633
Proceeds from issuance of promissory notes		53,000			480,000
Proceeds from issuance of common stock		—			20,000
Net cash provided by financing activities		189,433			435,590
Net increase (decrease) in cash during the period		(15,960	)		22,584
Cash, beginning of period		16,262			838
Cash, end of period		302			23,422
NON CASH INVESTING AND FINANCING ACTIVITIES
Shares issued on conversion of debt		254,384			43,481
Shares issued as consideration for acquisition of intangible		—			—
Cash paid for interest		—			36,000
Cash paid for taxes		—			—

The accompanying notes are an integral part of these unaudited condensed financial statements.

F-3

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

1. Organization, Nature of Business, Going Concern and Management Plans

Organization and Nature of Business

Chess Supersite Corporation ("Chess Supersite" or "the Company") was incorporated on July 2, 2013 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company’s current business comprises the operation of an extensive Chess gaming website. This comprehensive user friendly web site www.chessstars.com, is currently offering a state-of-the-art playing zone, broadcasts of the major tournaments, intuitive mega database, chess skilled contests and much more.

In May, 2014, the Company effected a change in control by the redemption of the stock held by its original shareholders, the issuance of shares of its common stock to new shareholders, the resignation of its original officers and directors and the appointment of new officers and directors.

On July 6, 2015, the Company filed its form S-1/A, to amend its form S-1 previously filed on January 26, 2015 and December 11, 2014. The prospectus relates to the offer and sale of 1,500,000 shares of common stock (the “Shares”) of the Company, $0.0001 par value per share, offered by the holders thereof (the “Selling Shareholder Shares”), who are deemed to be statutory underwriters. The selling shareholders will offer their shares at a price of $0.50 per share, until the Company’s common stock is listed on a national securities exchange or is quoted on the OTC Bulletin Board (or a successor); after which, the selling shareholders may sell their shares at prevailing market or privately negotiated prices, including (without limitation) in one or more transactions that may take place by ordinary broker’s transactions, privately-negotiated transactions or through sales to one or more dealers for resale.

On July 13, 2015, the Company received a notice of effectiveness from the SEC for the registration of its shares.

On September 22, 2015, the Company was able to secure an OTC Bulletin Board symbol CHZP from Financial Industry Regulatory Authority (FINRA).

Going Concern and Management Plans

The Company has not yet generated significant revenue since inception to date and has sustained operating losses during the nine months ended September 30, 2017. The Company had working capital deficit of $1,881,347 and an accumulated deficit of $6,508,153 as of September 30, 2017. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required.

The unaudited condensed interim financial statements have been prepared assuming that the Company will continue as a going concern up-to at least 12 months from the balance sheet date; however, the above condition raises substantial doubt about the Company's ability to do so. The condensed unaudited financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations.

F-4

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

2. Summary of Significant Accounting Policies

Basis of Presentation

The unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited condensed interim financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited condensed interim financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2017 or for any other interim period. The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2016.  

Reclassification of comparative figures

Certain of the prior period figures have been reclassified to align with Management’s current view of the Company’s operations.

Use of Estimates

The preparation of the unaudited condensed interim financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates.

Intangible Assets

Identifiable intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever facts and circumstances indicate that their carrying values may not be fully recoverable. The intangible assets with definite lives are being amortized over its estimated useful lives of 10 years using the straight-line method.

Revenue recognition

In accordance with ASC 605, revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

Recently Issued Accounting Standards

The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

F-5

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

3. Related Party Transactions and Balances

During the nine months ended September 30, 2017, $225,000 (September 30, 2016: $225,000) was recorded as management services fee payable to Rubin Schindermann and Alexander Starr, who are shareholders and officers in the Company. The amount is included in the related party balance as at September 30, 2017.

4. Shareholder Advances

Shareholder advances represent expenses paid by the owners from personal funds. The amount is non-interest bearing, unsecured and due on demand. The amount of advance as at September 30, 2017 and December 31, 2016 was $280,907 and $144,474, respectively. The amounts repaid during the nine months ended September 30, 2017 and 2016 were $nil and $167,043, respectively.

5. Convertible Promissory Notes

During the nine months ended September 30, 2017, the Company issued convertible promissory notes, details of which are as follows:

Convertible promissory note issued on May 5, 2017 amounting to $23,000 (Note J).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the note is February 20, 2018
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 12% per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 58% of the average of the three (3) lowest closing bid price of the Company’s common stock for the fifteen (15) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before six months from the date of the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory note issued on January 31, 2017 amounting to $33,000 (Note I).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the note is November 5, 2017
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 12% per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 58% of the average of the three (3) lowest closing bid price of the Company’s common stock for the fifteen (15) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before six months from the date of the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

During the year ended December 31, 2016, the Company issued convertible promissory notes, details of which are as follows:

Convertible Redeemable note issued on October 18, 2016, amounting to $140,000 (Note H), representing commitment fee owed by the Company pursuant to Securities Purchase Agreement entered into by the Company dated October 18, 2016. The commitment fee was considered a prepaid asset. During the three months ended September 30, 2017, the pending S1 registration statement was withdrawn, removing the benefit associated with the prepaid asset. The amount was therefore written off as commitment fee in the statement of operations.

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is July 18, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 7 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 80% of the lowest trading price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.

4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 9.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible Redeemable notes issued on October 18, 2016, amounting to $100,000 and $25,000 (Notes F and G).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is July 18, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 7 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 57.5% of the lowest trading price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 9.99% of the Company’s then issued and outstanding common stock after the conversion.

F-6

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

Convertible promissory note issued on September 15, 2016, amounting to $30,000 (Note E).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the note is September 15, 2017.
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 55% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion. If lowest closing bid price is equal to or less than $0.01, then the conversion price will be 45% of the bid price.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory note issued on May 13, 2016, amounting to $75,000 (Note D).

The key terms/features of the convertible note are as follows:

1.	The maturity dates of the note was May 13, 2017.
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory notes issued on March 1, 2016 amounting to $150,000 each to two investors (Notes B and C).

The key terms/features of the convertible notes are as follows:

1.	The Holders have the right from six months after the date of issuance, and until any time until the Notes are fully paid, to convert any outstanding and unpaid principal portion of the Notes, into fully paid and non–assessable shares of Common Stock (par value $.0001).
2.	The Notes are convertible at a fixed conversion price of 45% of the lowest trading price of the Common Stock as reported on the OTC Pink maintained by the OTC Markets Group, Inc. upon which the Company’s shares are currently quoted, for the four (4) prior trading days including the day upon which a Notice of Conversion is received by the Company.
3.	Interest on the unpaid principal balance of this Note shall accrue at the rate of twenty-four (24 %) per annum.
4.	Beneficial ownership is limited to 4.99%.
5.	The Notes may be prepaid in whole or in part, at any time during the period beginning on the issue date and ending on the maturity date September 1, 2016, beginning at 100% of the outstanding principal, accrued interest and certain other amounts that may be due and owing under the Notes.

Convertible Redeemable note issued on May 19, 2016, amounting to $75,000 (Note A).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is May 19, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

F-7

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

Derivative liability

During the three and nine months ended September 30, 2017, holders of convertible promissory notes converted principal and interest amounting to $46,729 and $254,384, respectively. The Company recorded and fair valued the derivative liability as follows:

	Derivative liability as at December 31, 2016		Conversions during the period			Fair value adjustment		Derivative liability as at September 30, 2017
Note A		92,963		(100,471	)		7,508		-
Note B and C		382,409		(44,996	)		122,625		460,038
Note D and E		-		(64,277	)		126,972		62,695
Note F		-		-			78,094		78,094
Note G		-		-			20,157		20,157
Note H		-		-			164,915		164,915
Note I		-		-			22,931		22,931
		475,372		(209,744	)		543,202		808,830

6. Stockholders’ Deficit

On July 3, 2017, the Company filed an amended Certificate of Incorporation in Delaware to increase its authorized common stock to 20,000,000,000 shares. The Company’s authorized preferred stock remained at 20,000,000 shares. 1,000,000 shares of Preferred Stock having a par value of $0.0001 per share shall be designated as Series A Preferred Stock (“Series A Stock”). Dividends shall be declared and set aside for any shares of Series A Stock in the same manner and amount as for the Common Stock. Series A Stock, as a class, shall have voting rights equal to a multiple of 2X the number of shares of Common Stock issued and outstanding that are entitled to vote on any matter requiring shareholder approval.

The Company, as authorized by its Board of Directors and stockholders, has approved a Reverse Split whereby record owners of the Company’s Common Stock as of the Effective Date, shall, after the Effective Date, own one share of Common Stock for every one thousand (1,000) held as of the Effective Date. As a result, an aggregate of $387,978 was reclassified from common stock to additional paid in capital, see further Note 9. The Effective Date of this amendment was November 1, 2017.

The Company’s authorized capital stock consists of 20,000,000,000 shares of common stock and 20,000,000 shares of preferred stock. At September 30, 2017, there were 3,883,647,339 (3,883,648 – post reverse split) shares of common stock issued and outstanding (at December 31, 2016: 35,644,874 (35,645 – post reverse split) shares of common stock issued and outstanding).

Capitalization

The Company is authorized to issue 20,000,000,000 shares of common stock, par value $0.0001, of which 3,883,647,339 (3,883,648 – post reverse split) shares are outstanding as at September 30, 2017. The Company is also authorized to issue 20,000,000 shares of preferred stock, par value $0.0001, of which 1,000,000 shares were outstanding as at September 30, 2017.

Common Stock

Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights.

F-8

CHESS SUPERSITE CORPORATION

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

Subject to preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the board of directors in its discretion from funds legally available therefor.

Holders of common stock have no pre-emptive rights to purchase the Company’s common stock. There are no conversion or redemption rights or sinking fund provisions with respect to the common stock. The Company may issue additional shares of common stock which could dilute its current shareholder's share value.

During the quarter ended March 31, 2017, the Company issued 4,000,000 (4,000 – post reverse split) shares of common stock to individuals as consideration for advisory and consultancy services amounting to $36,000 which were recorded at fair value.

During the quarter ended March 31, 2017, the Company issued 13,916,741 (13,917 – post reverse split) shares of common stock to individuals on conversion of convertible promissory notes amounting to $26,126, respectively.

During the quarter ended March 31, 2017, the Company issued 20,000,000 (20,000 – post reverse split) shares of common stock each to Rubin Schindermann and Alexander Starr as consideration to settle outstanding management fee in the amount of $50,000 each, which were recorded at fair value.

During the quarter ended June 30, 2017, the Company issued 234,458,494 (234,458 – post reverse split) shares of common stock to individuals on conversion of convertible promissory notes amounting to $181,530.

During the quarter ended June 30, 2017, the Company issued 40,000,000 (40,000 – post reverse split) shares of common stock each to Rubin Schindermann and Alexander Starr as consideration to settle outstanding management fee in the amount of $108,000 each, which were recorded at fair value.

During the quarter ended September 30, 2017, the Company issued 675,627,230 (675,627 – post reverse split) shares of common stock to individuals on conversion of convertible promissory notes amounting to $51,729. Of these shares, the Company issued 533,348,384 shares at $30,779 and as a result of the contractual conversion price adjustments, these shares were issued below par value, with the offsetting balance recorded as a reduction in additional paid-in capital in the amount of $22,556 during the three months ended September 30, 2017.

During the quarter ended September 30, 2017, the Company issued 1,400,000,000 (1,400,000 – post reverse split) shares of common stock each to Rubin Schindermann and Alexander Starr as consideration to settle outstanding management fee in the amount of $140,000 each, which were recorded at fair value.

Shares to be issued include the following:

80,000 shares of common stock to be issued as compensation to advisers and consultants. These were recorded at fair value of $52,000, based on the market price of the Company’s stock on the date of issue.

35,000,000 shares (35,000 – post reverse split) to be issued as settlement of amount due for website development services amounting to $247,306. The fair value of the shares on the date of settlement was $21,000, resulting in gain on settlement amounting to $226,306.

Preferred Stock

Shares of preferred stock may be issued from time to time in one or more series as may be determined by the board of directors. The board of directors may fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof without any further vote or action by the stockholders of the Company, except that no holder of preferred stock shall have pre-emptive rights. Any shares of preferred stock so issued would typically have priority over the common stock with respect to dividend or liquidation rights. The board of directors does not at present intend to seek stockholder approval prior to any issuance of currently authorized stock, unless otherwise required by law or otherwise.

7. Loss Per Share

FASB ASC 260, Earnings Per Share provides for calculations of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.

As at September 30, 2017, holders of convertible promissory notes may be issued 6,149,850,000 (6,149,850 – post reverse split) shares assuming a conversion price equal to the current market price of $0.0001 per share.

8. Contingencies and commitments

The Company is party to a website and software development services agreement under which the Company is to arrange weekly payments amounting to $1,250 as consideration for such services, which are indefinite.

9. Subsequent Events

The Company’s management has evaluated subsequent events up to November 3, 2017, the date the financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following material subsequent events:

The Company, as authorized by its Board of Directors and stockholders, has approved a Reverse Split whereby record owners of the Company’s Common Stock as of the Effective Date, shall, after the Effective Date, own one share of Common Stock for every one thousand (1,000) held as of the Effective Date. The Effective Date of this amendment was November 1, 2017 and is retrospectively reflected in these financial statements.

F-9

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information and financial data discussed below is derived from the unaudited condensed interim financial statements of the Chess Supersite Corporation (“we,” “us” or the “Company”) for the nine months ended September 30, 2017 and were prepared and presented in accordance with generally accepted accounting principles in the United States.

Forward Looking Statements

Some of the statements contained in this Quarterly Report on Form 10-Q that are not historical facts are “forward -looking statements” which can be identified by the use of the terminology such as “estimates,” “projects,” “plans,” “believes,” “expects,” “anticipates,” “intends,” or the negative or other variations, or by discussions of strategy that involve risks and uncertainties. We urge you to be cautious of the forward-looking statements, that such statements, which are contained in this Quarterly Report, reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors affecting our operations, market growth, services, products and licenses. No assurances can be given regarding the achievement of future results, as actual results may differ materially as a result of the risks we face, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events. Factors that may cause actual results, our performance or achievements to differ materially from those contemplated by such forward-looking statements include without limitation: 

· Our ability to raise capital when needed and on acceptable terms and conditions;

· Our ability to attract and retain management;

· Our ability to enter in to long-term supply agreements for the mineralized material;

· General economic conditions; and

· Other factors discussed in Risk Factors.

All forward looking statements made in connection with this Quarterly Report that are attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given the uncertainties that surround such statements you are cautioned not to place undue reliance on such forward looking statements.

Overview

Chess Supersite Corporation ("Chess Supersite" or "the Company") was incorporated on July 2, 2013 under the laws of the state of Delaware to operate an online chess site featuring sophisticated playing zones, game broadcasts with software analyses and top analysts' commentaries, education and other chess oriented resources.

The Company registered its common stock on a Form 10 registration statement filed pursuant to the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 12(g) thereof. The Company files with the Securities and Exchange Commission periodic and current reports under Rule 13(a) of the Exchange Act, including quarterly reports on Form 10-Q and annual reports Form 10-K.

In May, 2014, the Company effected a change in control by the redemption of the stock held by its original shareholders, the issuance of shares of its common stock to new shareholders, the resignation of its original officers and directors and the appointment of new officers and directors.

The Company issued 1,000,000 (1,000 – post reverse split) shares of its common stock pursuant to Section 4(2) of the Securities Act of 1933 at par representing 66.7% of the total outstanding 1,500,000 (1,500 – post reverse split) shares of common stock as follows:

500,000 (500 – post reverse split)	Rubin Schinderman
500,000 (500 – post reverse split)	Alexander Starr

With the issuance of the 1,000,000 (1,000 – post reverse split) shares of stock and the redemption of 20,000,000 (20,000 – post reverse split) shares of stock, the Company effected a change in its control and the shareholder(s) elected new management of the Company. The Company changed its name as part of the change in control.

4

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Business and Plan of Operations

The Company operates an online chess site featuring sophisticated playing zones, game broadcasts with software analyses and top analysts' commentaries, education and other chess oriented resources. We believe that chess players have two major needs: (i) to play against each other and (ii) to watch chess matches between two players including Grandmasters. To meet that need, we have developed “Chess Stars” as an interactive and educational website that allows chess players to play online, watch broadcasted chess tournaments, learn to play and improve their skills and to participate in our patent-pending “Choose Your Moves and Win” contests. Utilizing advanced two-tier architecture, “Chess Stars” can support virtually an unlimited range of content and services designed to attract viewers. With a model similar to that of TV poker, viewers are able to see an odds matrix for any position on the chess board. Percentage of success for each move is based on statistics, computer analysis and our proprietary value calculations. The viewing of chess games is particularly adaptable to the Internet to allow for real time or archival viewing while enjoying the comments, announcements and analyses of top chess experts. We anticipate we will be able to deliver high quality viewing and game-playing experiences featuring broadcasts of top worldwide games, education, interactivity, playing and other services and facilitate the emergence of chess as a mainstream sport.

In October 2016, we started our Chess Stars Club Membership Program. Club members enjoy free entry to all events, including our cash prize events. Club membership costs $12.95 per month or $99.00 per year. At the present time, we have sold 93 Club memberships. We have derived our revenues at date from the sale of Club memberships and our live events such as Chess Stars Camps, live chess tournaments and Chess Festivals with attendees paying on the average of $50.00 per person.

We have spent approximately $554k on software development and have issued shares fair valued at approximately $1.9mn to consultants and advisors. These expenses have been partially capitalized as Intangible Assets and the remaining part has been reported by us on the statement of operations as website development, software development and advisory and consulting expenses, and represent a major value to the Company and its investors.

The Company, acquired certain assets (the “Acquisition”) of Chess Supersite, Inc., a corporation existing under the laws of Ontario, Canada. The Acquisition was consummated pursuant to the terms of the Asset Purchase Agreement (the “Agreement”) dated July 23, 2014 and in exchange for the issuance of 5,000,000 (5,000 – post reverse split) shares of common stock to Chess Supersite, Inc. The purpose of the Acquisition was to develop the Company’s business and build substantive operations from this initial base of assets, as well as to facilitate and prepare the Company for a registration statement and/or public offering of securities. On December 11, 2014 the Company filed a form 8-K, changing the status of the company from shell to operating.

During the current period, the Company has started to generate revenues. There is currently no income or cash flows from operations, however due to the high initial costs. The Company's independent auditors have substantial doubt about the Company's ability to continue as a going concern. At present, continuation of the Company as a going concern is dependent upon financial support from its stockholders and its ability to obtain necessary equity financing to continue its operations.

On July 6, 2015, the Company filed its form S-1/A, to amend its form S-1 previously filed on January 26, 2015 and December 11, 2014. This prospectus relates to the offer and sale of 1,500,000 (1,500 – post reverse split) shares of common stock (the “Shares”) of Chess Supersite Corporation. (the “Company”), $0.0001 par value per share, offered by the holders thereof (the “Selling Shareholder Shares”), who are deemed to be statutory underwriters. The selling shareholders will sell the shares offered herein at the fixed price of $0.50 per share for the duration of the offering.

The maximum number of Shares that can be sold pursuant to the terms of this offering by the selling shareholders is (in aggregate) 1,500,000 (1,500 – post reverse split) Shares. Funds received by the selling shareholders will be immediately available to such selling shareholders for use by them. The Company will not receive any proceeds from the sale of the Selling Shareholder Shares.

On July 13, 2015, the Company received a notice of effectiveness from the SEC for the registration of its shares.

On September 22, 2015, the Company was able to secure a OTC Bulletin Board symbol CHZP from Financial Industry Regulatory Authority (FINRA).

5

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Results of Operations

We have not generated significant revenue to date and consequently our operations are subject to all of the risks inherent in the establishment of a new business enterprise. Our analysis on the performance of the Company is as follows:

Balance sheet – As at September 30, 2017 and December 31, 2016

Cash

At September 30, 2017 we had cash of $302 compared to $16,262 as at December 31, 2016. The decrease is due to payments of software development, consulting, professional and legal expenses during the period.

Prepaid asset

Prepaid asset amounting to $140,000 represented commitment fee owed by us to a certain investor in respect of a drawdown facility which is not yet active. The asset was written off in the statement of operations during the three months ended September 30, 2017 because the benefit associated in form of the equity line of credit no longer exists.

Intangible assets

Intangible assets represents the amount incurred by the Company related to the development of the online chess gaming website. During the quarter ended September 30, 2017, intangible assets amounting to $nil were capitalized as compared to $137,611 during the year ended December 31, 2016.

Accounts payable and accrued liabilities

At September 30, 2017 we had $111,001 of accounts payable and accrued liabilities as compared to $277,518 as at December 31, 2016. The balance primarily represents interest on promissory notes amounting to $64,211, advertising and promotion services amounting to $14,214, marketing services cost amounting to $13,650, accounting fee accrual of $2,500, and review fee accrual of $3,000.

Payable to related parties

At September 30, 2017 we had $148,697 of amount payable to related parties as compared to $514,697 as at December 31, 2016. The balance represents management services fee outstanding to the two shareholder/managers of the Company.

Shareholder advances

At September 30, 2017 we had $280,907 of shareholder advances as compared to $144,474 as at December 31, 2016. The balance represents Company expenses personally paid by shareholders.

Convertible promissory notes payable

In January 2016, we entered into an agreement with an investor and issued them a convertible promissory note amounting to $33,000. The outstanding amount under the note is due on or before November 5, 2017. In May 2017, we entered into an agreement with an investor and issued them a convertible promissory note amounting to $23,000. The outstanding amount under the note is due on or before February 20, 2018. We accrued net interest on promissory notes during the three and nine months ended September 30, 2017 amounting to $22,406 and $79,762, respectively.

6

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Statement of Operations – For the three months September 30, 2017 and 2016:

Revenue

Revenue of $188 represents membership fee for the Company’s chess gaming website, and cash sales from hosting a chess tournament in association with Florida Chess Club.

Expenses

Our expenses are classified primarily into advisory and consultancy fee, salaries and wages, legal and professional fees, software development expense and website development and marketing expense. The significant decrease in overall expenses for the three months ended September 30, 2017 compared to 2016 is due to lower advisory and consultancy fee during the period. This was due to the fact that the work on the website was significantly complete and did not require many services during the 2017 period.

Expenses for the three months ended September 30, 2017 primarily represented commitment fee amounting to $140,000, salary for two employees amounting in total to $75,000, legal and professional charges of $34,706 comprising audit, accounting and Edgar agent fee, software development expense of $17,359, website development and marketing expense amounting to $13,691 for the development of the Company’s website Chessstars.com and its marketing and publicity, rent and utilities amounting to $5,152, travel expenses amounting to $1,990, amortization expense of $3,271, office and general expenses amounting to $199.

Other income and expenses comprised, change in fair value of derivative liability amounting to $136,764, net gain on settlement of an account payable amounting to $nil and interest and bank charges amounting to $22,593.

Statement of Operations – For the nine months September 30, 2017 and 2016:

Revenue

Revenue of $15,343 represents membership fee for the Company’s chess gaming website, and cash sales from hosting a chess tournament in association with Florida Chess Club.

Expenses

Our expenses are classified primarily into advisory and consultancy fee, salaries and wages, legal and professional fees, software development expense and website development and marketing expense. The significant decrease in overall expenses for the nine months ended September 30, 2017 compared to 2016 is due to lower advisory and consultancy fee during the period. This was due to the fact that the work on the website was significantly complete and did not require many services during the 2017 period.

Expenses for the nine months ended September 30, 2017 primarily represented commitment fee amounting to $140,000, Advisory and consultancy fee amounting to $36,000, salary for two employees amounting in total to $225,000, legal and professional charges of $91,107 comprising audit, accounting and Edgar agent fee, software development expense of $70,246, website development and marketing expense amounting to $74,695 for the development of the Company’s website Chessstars.com and its marketing and publicity, rent and utilities amounting to $15,029, travel expenses amounting to $11,873, amortization expense of $10,065, office and general expenses amounting to $402.

Other income and expenses comprised, change in fair value of derivative liability amounting to $543,202, net gain on settlement of an account payable amounting to $226,306 and interest and bank charges amounting to $80,520.

7

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Liquidity and Capital Resources

At September 30, 2017, we had a working capital deficit of $1,881,347. We are actively seeking various financing operations to meet the working capital requirements.

To date we have relied on third parties to provide financing for our operations by way of private placements. The proceeds may not be sufficient to effectively develop our business to the fullest extent to allow us to maximize our revenue potential, in which case, we will need additional capital.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

Critical Accounting Policies

Revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

Other critical accounting policies are described in the Company’s Form 10-K for the year ended December 31, 2016.

Subsequent Events

Our Board of Directors and stockholders have approved a Reverse Split whereby record owners of the Company’s Common Stock as of the Effective Date, shall, after the Effective Date, own one share of Common Stock for every one thousand (1,000) held as of the Effective Date. The Effective Date of this amendment was November 1, 2017.

Description of Property

Our principal executive office is located at 1131A Leslie Street, Suite 101, Toronto, Ontario, Canada, M3C 3L8.

8

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Smaller reporting companies are not required to provide the information required by this item. 

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures

Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s principal executive officer and principal financial officer of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon that evaluation, the Company’s principal executive officer and principal financial officer concluded that the Company’s disclosure controls and procedures were not effective as of September 30, 2017 to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

It should be noted that any system of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system are met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events. Because of these and other inherent limitations of control systems, there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Changes in internal controls

No change in our system of internal control over financial reporting occurred during the nine months ended September 30, 2017 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no legal proceedings against the Company and the Company is unaware of such proceedings contemplated against it.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On June 27, 2017, the Company issued 20,000,000 (20,000 – post reverse split) shares of common stock to one person in consideration of services rendered under the terms of a consulting agreement previously entered into by the Company. The shares were issued at a price of $0.0004 per share.

On September 7, 2017, the Company issued 1,400,000 (1,400 – post reverse split) shares of common stock to Rubin Schindermann and 1,400,000 (1,400 – post reverse split) shares to Alexander Starr in consideration of previously unpaid management compensation. The shares were issued at a price of $0.0001 per share.

The foregoing securities were issued in reliance upon the exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, for transactions not involving a public offering and/or in reliance upon Regulation S adopted pursuant to the Securities Act of 1933, as amended, for offers and sales made outside the United States. 

9

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None. 

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

10

ITEM 6. EXHIBITS

Exhibits:

31.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).*
32.1	Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.*
101.INS	XBRL Instance Document*
101.SCH	XBRL Taxonomy Extension Schema*
101.CAL	XBRL Taxonomy Extension Calculation Linkbase*
101.DEF	XBRL Taxonomy Extension Definition Linkbase*
101.LAB	XBRL Taxonomy Extension Label Linkbase*
101.PRE	XBRL Taxonomy Extension Presentation Linkbase*

* Filed herewith.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CHESS SUPERSITE CORPORATION
Dated: November 3, 2017	By:	/s/ Rubin Schindermann
		Rubin Schindermann
		Chief Executive Officer and Chief Financial Officer

11

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO SECTION 302

I, Rubin Schindermann, certify that:

1. I have reviewed this Form 10-Q of Chess Supersite Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluations; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 3, 2017	/s/ Rubin Schindermann
	Chief Executive Officer and
	Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO SECTION 906

Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, the undersigned officer of Chess Supersite Corporation (the "Company"), hereby certify to my knowledge that:

The Report on Form 10-Q for the period ended September 30, 2017 of the Company fully complies, in all material respects, with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and the information contained in the Report fairly represents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

	/s/ Rubin Schindermann
	Chief Executive Officer
	Chief Financial Officer
Date: November 3, 2017

XML

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Entity Registrant Name	Chess Supersite Corp
Entity Central Index Key	0001586554
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CHZP
Entity Common Stock, Shares Outstanding		3,883,647,339

XML

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash	$ 302	$ 16,262
Accounts Receivable	13,882	0
Prepaid asset [Note 5]	0	140,000
Total current assets	14,184	156,262
Long term assets
Intangible assets - net	127,546	137,611
Total long term assets	127,546	137,611
Total assets	141,730	293,873
Current liabilities
Accounts payable and accrued liabilities	111,001	277,518
Payable to related parties [Note 3]	148,697	514,697
Shareholder advances [Note 4]	280,907	144,474
Convertible Promissory notes, net [Note 5]	546,096	701,519
Derivative liability [Note 5]	808,830	475,372
Total current liabilities	1,895,531	2,113,580
Total liabilities	1,895,531	2,113,580
Contingencies and commitments
Stockholders' deficit
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; 1,000,000 shares issued and outstanding as at September 30, 2017 (1,000,000 shares outstanding as at December 31, 2016) [Note 6]	100	100
Common stock, $0.0001 par value, 20,000,000,000 shares authorized, 3,883,647,339 (3,883,648 - post reverse split) common shares outstanding as at September 30, 2017 (35,644,874 (35,645 - post reverse split) common shares outstanding as at December 31, 2016) [Note 6]	388	4
Shares to be issued [Note 6]	73,000	52,000
Additional paid-in capital	4,680,864	3,580,120
Accumulated deficit	(6,508,153)	(5,451,931)
Total stockholders' deficit	(1,753,801)	(1,819,707)
Total liabilities and stockholders' deficit	$ 141,730	$ 293,873

XML

CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	1,000,000	1,000,000
Preferred Stock, Shares Outstanding	1,000,000	1,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	20,000,000,000	20,000,000,000
Common Stock, Shares, Issued	3,883,647,339	35,644,874
Common Stock, Shares, Outstanding	3,883,647,339	35,644,874
Stockholders' Equity, Post Reverse Stock Split	3,883,648	35,645

XML

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
REVENUE	$ 188	$ 519	$ 15,343	$ 5,019
OPERATING EXPENSES
Commitment fee [Note 5]	140,000	0	140,000	0
Advisory and consultancy fee	0	712,900	36,000	978,991
Management services fee to related parties [Note 3]	75,000	75,000	225,000	225,000
Legal and professional fees	34,706	26,696	91,107	78,880
Software development expense	17,359	10,000	70,246	134,990
Donation	0	0	0	45,000
Website development and marketing expenses	13,691	35,649	74,695	77,316
Rent and Utilities	5,152	5,733	15,029	13,263
Travel expenses	1,990	0	11,873	18,000
Amortization on intangibles	3,271	0	10,065	0
Office and general	199	19,924	402	13,061
Total operating expenses	291,368	885,902	674,417	1,584,501
OTHER INCOME AND EXPENSES
Change in fair value of derivative liability	136,764	590,387	543,202	590,387
Net (gain) loss on settlement of liability	0	34,290	(226,306)	34,290
Interest and bank charges	22,593	25,167	80,520	45,314
Exchange (gain) loss	(918)	414	(268)	1,004
Net loss before income taxes	(449,619)	(1,535,641)	(1,056,222)	(2,250,477)
Income taxes	0	0	0	0
Net loss	$ (449,619)	$ (1,535,641)	$ (1,056,222)	$ (2,250,477)
Loss per share, basic and diluted (in dollars per share)	$ (0.291)	$ (49.825)	$ (1.695)	$ (91.245)
Weighted average shares - basic and diluted (in shares)	1,544,411	30,821	623,314	24,664

XML

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES
Net loss for the period	$ (1,056,222)	$ (2,250,477)
Adjustment for non-cash items
Net (gain) loss on settlement of liability	(226,306)	34,920
Change in fair value of derivative	543,202	590,387
Amortization expense	10,065	0
Shares issued/to be issued for advisory and other services	646,612	1,390,400
Changes in operating assets and liabilities:
Change in accounts payable and accrued liabilities	(248,862)	(177,717)
Change in accounts receivable	(13,882)	(519)
Change in prepaid asset	140,000	0
Net cash used in operating activities	(205,393)	(413,006)
FINANCING ACTIVITIES
Repayment of shareholder advances	(5,802)	(167,043)
Shareholder advances	142,235	102,633
Proceeds from issuance of promissory notes	53,000	480,000
Proceeds from issuance of common stock	0	20,000
Net cash provided by financing activities	189,433	435,590
Net increase (decrease) in cash during the period	(15,960)	22,584
Cash, beginning of period	16,262	838
Cash, end of period	302	23,422
NON CASH INVESTING AND FINANCING ACTIVITIES
Shares issued on conversion of debt	254,384	43,481
Shares issued as consideration for acquisition of intangible	0	0
Cash paid for interest	0	36,000
Cash paid for taxes	$ 0	$ 0

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Organization, Nature of Business, Going Concern and Management Plans

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. Organization, Nature of Business, Going Concern and Management Plans

Organization and Nature of Business

Chess Supersite Corporation ("Chess Supersite" or "the Company") was incorporated on July 2, 2013 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company’s current business comprises the operation of an extensive Chess gaming website. This comprehensive user friendly web site www.chessstars.com, is currently offering a state-of-the-art playing zone, broadcasts of the major tournaments, intuitive mega database, chess skilled contests and much more.

In May, 2014, the Company effected a change in control by the redemption of the stock held by its original shareholders, the issuance of shares of its common stock to new shareholders, the resignation of its original officers and directors and the appointment of new officers and directors.

On July 6, 2015, the Company filed its form S-1/A, to amend its form S-1 previously filed on January 26, 2015 and December 11, 2014. The prospectus relates to the offer and sale of 1,500,000 shares of common stock (the “Shares”) of the Company, $0.0001 par value per share, offered by the holders thereof (the “Selling Shareholder Shares”), who are deemed to be statutory underwriters. The selling shareholders will offer their shares at a price of $0.50 per share, until the Company’s common stock is listed on a national securities exchange or is quoted on the OTC Bulletin Board (or a successor); after which, the selling shareholders may sell their shares at prevailing market or privately negotiated prices, including (without limitation) in one or more transactions that may take place by ordinary broker’s transactions, privately-negotiated transactions or through sales to one or more dealers for resale.

On July 13, 2015, the Company received a notice of effectiveness from the SEC for the registration of its shares.

On September 22, 2015, the Company was able to secure an OTC Bulletin Board symbol CHZP from Financial Industry Regulatory Authority (FINRA).

Going Concern and Management Plans

The Company has not yet generated significant revenue since inception to date and has sustained operating losses during the nine months ended September 30, 2017. The Company had working capital deficit of $1,881,347 and an accumulated deficit of $6,508,153 as of September 30, 2017. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required.

The unaudited condensed interim financial statements have been prepared assuming that the Company will continue as a going concern up-to at least 12 months from the balance sheet date; however, the above condition raises substantial doubt about the Company's ability to do so. The condensed unaudited financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations.

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Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

2. Summary of Significant Accounting Policies

Basis of Presentation

The unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited condensed interim financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited condensed interim financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2017 or for any other interim period. The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2016.  

Reclassification of comparative figures

Certain of the prior period figures have been reclassified to align with Management’s current view of the Company’s operations.

Use of Estimates

The preparation of the unaudited condensed interim financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates.

Intangible Assets

Identifiable intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever facts and circumstances indicate that their carrying values may not be fully recoverable. The intangible assets with definite lives are being amortized over its estimated useful lives of 10 years using the straight-line method.

Revenue recognition

In accordance with ASC 605, revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

Recently Issued Accounting Standards

The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

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Related Party Transactions and Balances

9 Months Ended

Sep. 30, 2017

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

3. Related Party Transactions and Balances

During the nine months ended September 30, 2017, $225,000 (September 30, 2016: $225,000) was recorded as management services fee payable to Rubin Schindermann and Alexander Starr, who are shareholders and officers in the Company. The amount is included in the related party balance as at September 30, 2017.

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Shareholder Advances

9 Months Ended

Sep. 30, 2017

Shareholder Advances [Abstract]

Shareholder Advances [Text Block]

4. Shareholder Advances

Shareholder advances represent expenses paid by the owners from personal funds. The amount is non-interest bearing, unsecured and due on demand. The amount of advance as at September 30, 2017 and December 31, 2016 was $280,907 and $144,474, respectively. The amounts repaid during the nine months ended September 30, 2017 and 2016 were $nil and $167,043, respectively.

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Convertible Promissory Notes

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

5. Convertible Promissory Notes

During the nine months ended September 30, 2017, the Company issued convertible promissory notes, details of which are as follows:

Convertible promissory note issued on May 5, 2017 amounting to $23,000 (Note J).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the note is February 20, 2018
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 12% per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 58% of the average of the three (3) lowest closing bid price of the Company’s common stock for the fifteen (15) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before six months from the date of the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory note issued on January 31, 2017 amounting to $33,000 (Note I).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the note is November 5, 2017
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 12% per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 58% of the average of the three (3) lowest closing bid price of the Company’s common stock for the fifteen (15) trading days prior to the date of conversion.
4.	The Company shall not be obligated to accept any conversion request before six months from the date of the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

During the year ended December 31, 2016, the Company issued convertible promissory notes, details of which are as follows:

Convertible Redeemable note issued on October 18, 2016, amounting to $140,000 (Note H), representing commitment fee owed by the Company pursuant to Securities Purchase Agreement entered into by the Company dated October 18, 2016. The commitment fee was considered a prepaid asset. During the three months ended September 30, 2017, the pending S1 registration statement was withdrawn, removing the benefit associated with the prepaid asset. The amount was therefore written off as commitment fee in the statement of operations.

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is July 18, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 7 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 80% of the lowest trading price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.

4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 9.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible Redeemable notes issued on October 18, 2016, amounting to $100,000 and $25,000 (Notes F and G).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is July 18, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 7 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 57.5% of the lowest trading price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 9.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory note issued on September 15, 2016, amounting to $30,000 (Note E).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the note is September 15, 2017.
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 55% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion. If lowest closing bid price is equal to or less than $0.01, then the conversion price will be 45% of the bid price.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory note issued on May 13, 2016, amounting to $75,000 (Note D).

The key terms/features of the convertible note are as follows:

1.	The maturity dates of the note was May 13, 2017.
2.	Interest on the unpaid principal balance of this note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Convertible promissory notes issued on March 1, 2016 amounting to $150,000 each to two investors (Notes B and C).

The key terms/features of the convertible notes are as follows:

1.	The Holders have the right from six months after the date of issuance, and until any time until the Notes are fully paid, to convert any outstanding and unpaid principal portion of the Notes, into fully paid and non–assessable shares of Common Stock (par value $.0001).
2.	The Notes are convertible at a fixed conversion price of 45% of the lowest trading price of the Common Stock as reported on the OTC Pink maintained by the OTC Markets Group, Inc. upon which the Company’s shares are currently quoted, for the four (4) prior trading days including the day upon which a Notice of Conversion is received by the Company.
3.	Interest on the unpaid principal balance of this Note shall accrue at the rate of twenty-four (24 %) per annum.
4.	Beneficial ownership is limited to 4.99%.
5.	The Notes may be prepaid in whole or in part, at any time during the period beginning on the issue date and ending on the maturity date September 1, 2016, beginning at 100% of the outstanding principal, accrued interest and certain other amounts that may be due and owing under the Notes.

Convertible Redeemable note issued on May 19, 2016, amounting to $75,000 (Note A).

The key terms/features of the convertible note are as follows:

1.	The maturity date of the Note is May 19, 2017.
2.	Interest on the unpaid principal balance of this Note shall accrue at the rate of 8 % per annum.
3.	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 52% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion.
4.	As maturity dates have passed, the Company is now obligated to accept all conversion requests on the note.
5.	Conversion is limited to the holder beneficially holding not more than 4.99% of the Company’s then issued and outstanding common stock after the conversion.

Derivative liability

During the three and nine months ended September 30, 2017, holders of convertible promissory notes converted principal and interest amounting to $46,729 and $254,384, respectively. The Company recorded and fair valued the derivative liability as follows:

	Derivative						Derivative
	liability as at		Conversions				liability as at
	December 31,		during the		Fair value		September 30,
	2016		period		adjustment		2017
Note A		92,963		(100,471)		7,508		-
Note B and C		382,409		(44,996)		122,625		460,038
Note D and E		-		(64,277)		126,972		62,695
Note F		-		-		78,094		78,094
Note G		-		-		20,157		20,157
Note H		-		-		164,915		164,915
Note I		-		-		22,931		22,931
		475,372		(209,744)		543,202		808,830

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Stockholders’ Deficit

9 Months Ended

Sep. 30, 2017

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

6. Stockholders’ Deficit

On July 3, 2017, the Company filed an amended Certificate of Incorporation in Delaware to increase its authorized common stock to 20,000,000,000 shares. The Company’s authorized preferred stock remained at 20,000,000 shares. 1,000,000 shares of Preferred Stock having a par value of $0.0001 per share shall be designated as Series A Preferred Stock (“Series A Stock”). Dividends shall be declared and set aside for any shares of Series A Stock in the same manner and amount as for the Common Stock. Series A Stock, as a class, shall have voting rights equal to a multiple of 2X the number of shares of Common Stock issued and outstanding that are entitled to vote on any matter requiring shareholder approval.

The Company, as authorized by its Board of Directors and stockholders, has approved a Reverse Split whereby record owners of the Company’s Common Stock as of the Effective Date, shall, after the Effective Date, own one share of Common Stock for every one thousand (1,000) held as of the Effective Date. As a result, an aggregate of $387,978 was reclassified from common stock to additional paid in capital, see further Note 9. The Effective Date of this amendment was November 1, 2017.

The Company’s authorized capital stock consists of 20,000,000,000 shares of common stock and 20,000,000 shares of preferred stock. At September 30, 2017, there were 3,883,647,339 (3,883,648 – post reverse split) shares of common stock issued and outstanding (at December 31, 2016: 35,644,874 (35,645 – post reverse split) shares of common stock issued and outstanding).

Capitalization

The Company is authorized to issue 20,000,000,000 shares of common stock, par value $0.0001, of which 3,883,647,339 (3,883,648 – post reverse split) shares are outstanding as at September 30, 2017. The Company is also authorized to issue 20,000,000 shares of preferred stock, par value $0.0001, of which 1,000,000 shares were outstanding as at September 30, 2017.

Common Stock

Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights.

Subject to preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the board of directors in its discretion from funds legally available therefor.

Holders of common stock have no pre-emptive rights to purchase the Company’s common stock. There are no conversion or redemption rights or sinking fund provisions with respect to the common stock. The Company may issue additional shares of common stock which could dilute its current shareholder's share value.

During the quarter ended March 31, 2017, the Company issued 4,000,000 (4,000 – post reverse split) shares of common stock to individuals as consideration for advisory and consultancy services amounting to $36,000 which were recorded at fair value.

During the quarter ended March 31, 2017, the Company issued 13,916,741 (13,917 – post reverse split) shares of common stock to individuals on conversion of convertible promissory notes amounting to $26,126, respectively.

During the quarter ended March 31, 2017, the Company issued 20,000,000 (20,000 – post reverse split) shares of common stock each to Rubin Schindermann and Alexander Starr as consideration to settle outstanding management fee in the amount of $50,000 each, which were recorded at fair value.

During the quarter ended June 30, 2017, the Company issued 234,458,494 (234,458 – post reverse split) shares of common stock to individuals on conversion of convertible promissory notes amounting to $181,530.

During the quarter ended June 30, 2017, the Company issued 40,000,000 (40,000 – post reverse split) shares of common stock each to Rubin Schindermann and Alexander Starr as consideration to settle outstanding management fee in the amount of $108,000 each, which were recorded at fair value.

During the quarter ended September 30, 2017, the Company issued 675,627,230 (675,627 – post reverse split) shares of common stock to individuals on conversion of convertible promissory notes amounting to $51,729. Of these shares, the Company issued 533,348,384 shares at $30,779 and as a result of the contractual conversion price adjustments, these shares were issued below par value, with the offsetting balance recorded as a reduction in additional paid-in capital in the amount of $22,556 during the three months ended September 30, 2017.

During the quarter ended September 30, 2017, the Company issued 1,400,000,000 (1,400,000 – post reverse split) shares of common stock each to Rubin Schindermann and Alexander Starr as consideration to settle outstanding management fee in the amount of $140,000 each, which were recorded at fair value.

Shares to be issued include the following:

80,000 shares of common stock to be issued as compensation to advisers and consultants. These were recorded at fair value of $52,000, based on the market price of the Company’s stock on the date of issue.

35,000,000 shares (35,000 – post reverse split) to be issued as settlement of amount due for website development services amounting to $247,306. The fair value of the shares on the date of settlement was $21,000, resulting in gain on settlement amounting to $226,306.

Preferred Stock

Shares of preferred stock may be issued from time to time in one or more series as may be determined by the board of directors. The board of directors may fix the designation, powers, preferences and rights of the shares of each such series and the qualifications, limitations or restrictions thereof without any further vote or action by the stockholders of the Company, except that no holder of preferred stock shall have pre-emptive rights. Any shares of preferred stock so issued would typically have priority over the common stock with respect to dividend or liquidation rights. The board of directors does not at present intend to seek stockholder approval prior to any issuance of currently authorized stock, unless otherwise required by law or otherwise.

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Loss Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. Loss Per Share

FASB ASC 260, Earnings Per Share provides for calculations of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.

As at September 30, 2017, holders of convertible promissory notes may be issued 6,149,850,000 (6,149,850 – post reverse split) shares assuming a conversion price equal to the current market price of $0.0001 per share.

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Contingencies and commitments

9 Months Ended

Sep. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

8. Contingencies and commitments

The Company is party to a website and software development services agreement under which the Company is to arrange weekly payments amounting to $1,250 as consideration for such services, which are indefinite.

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Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events [Text Block]

9. Subsequent Events

The Company’s management has evaluated subsequent events up to November 3, 2017, the date the financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following material subsequent events:

The Company, as authorized by its Board of Directors and stockholders, has approved a Reverse Split whereby record owners of the Company’s Common Stock as of the Effective Date, shall, after the Effective Date, own one share of Common Stock for every one thousand (1,000) held as of the Effective Date. The Effective Date of this amendment was November 1, 2017 and is retrospectively reflected in these financial statements.

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

The unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited condensed interim financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited condensed interim financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2017 or for any other interim period. The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2016.  

Reclassification, Policy [Policy Text Block]

Reclassification of comparative figures

Certain of the prior period figures have been reclassified to align with Management’s current view of the Company’s operations.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of the unaudited condensed interim financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates.

Goodwill and Intangible Assets, Policy [Policy Text Block]

Intangible Assets

Identifiable intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever facts and circumstances indicate that their carrying values may not be fully recoverable. The intangible assets with definite lives are being amortized over its estimated useful lives of 10 years using the straight-line method.

Revenue Recognition, Policy [Policy Text Block]

Revenue recognition

In accordance with ASC 605, revenue is recognized when persuasive evidence of an arrangement exists, services have been performed, the amount is fixed and determinable, and collection is reasonably assured.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

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Convertible Promissory Notes (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Derivative Instruments [Table Text Block]

The Company recorded and fair valued the derivative liability as follows:

	Derivative						Derivative
	liability as at		Conversions				liability as at
	December 31,		during the		Fair value		September 30,
	2016		period		adjustment		2017
Note A		92,963		(100,471)		7,508		-
Note B and C		382,409		(44,996)		122,625		460,038
Note D and E		-		(64,277)		126,972		62,695
Note F		-		-		78,094		78,094
Note G		-		-		20,157		20,157
Note H		-		-		164,915		164,915
Note I		-		-		22,931		22,931
		475,372		(209,744)		543,202		808,830

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Organization, Nature of Business, Going Concern and Management Plans (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Jul. 06, 2015
Organization, Nature of Business, Going Concern and Management Plans [Line Items]
Entity Incorporation, Date of Incorporation	Jul. 02, 2013
Working Capital Deficit	$ 1,881,347
Common Stock Shares Offered			1,500,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Share Price			$ 0.50
Retained Earnings (Accumulated Deficit)	$ (6,508,153)	$ (5,451,931)

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Summary of Significant Accounting Policies (Details Textual)	9 Months Ended
	Sep. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years

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Related Party Transactions and Balances (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Related Party Transaction [Line Items]
Management Fee Expense	$ 75,000	$ 75,000	$ 225,000	$ 225,000
Majority Shareholder [Member]
Related Party Transaction [Line Items]
Management Fee Expense			$ 225,000	$ 225,000

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Shareholder Advances (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Shareholder Advances [Line Items]
Due to Officers or Stockholders, Current	$ 280,907		$ 144,474
Shareholder [Member]
Shareholder Advances [Line Items]
Due to Officers or Stockholders, Current	280,907		$ 144,474
Repayments of Related Party Debt	$ 0	$ 167,043

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Convertible Promissory Notes (Details)	9 Months Ended
	Sep. 30, 2017 USD ($)
Derivative liability as at December 31, 2016	$ 475,372
Conversions during the period	(209,744)
Fair value adjustment	543,202
Derivative liability as at September 30, 2017	808,830
Note A [Member]
Derivative liability as at December 31, 2016	92,963
Conversions during the period	(100,471)
Fair value adjustment	7,508
Derivative liability as at September 30, 2017	0
Note B and C [Member]
Derivative liability as at December 31, 2016	382,409
Conversions during the period	(44,996)
Fair value adjustment	122,625
Derivative liability as at September 30, 2017	460,038
Note D and E [Member]
Derivative liability as at December 31, 2016	0
Conversions during the period	(64,277)
Fair value adjustment	126,972
Derivative liability as at September 30, 2017	62,695
Note F [Member]
Derivative liability as at December 31, 2016	0
Conversions during the period	0
Fair value adjustment	78,094
Derivative liability as at September 30, 2017	78,094
Note G [Member]
Derivative liability as at December 31, 2016	0
Conversions during the period	0
Fair value adjustment	20,157
Derivative liability as at September 30, 2017	20,157
Note H [Member]
Derivative liability as at December 31, 2016	0
Conversions during the period	0
Fair value adjustment	164,915
Derivative liability as at September 30, 2017	164,915
Note I [Member]
Derivative liability as at December 31, 2016	0
Conversions during the period	0
Fair value adjustment	22,931
Derivative liability as at September 30, 2017	$ 22,931

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Convertible Promissory Notes (Details Textual) - USD ($)					1 Months Ended				3 Months Ended	9 Months Ended
	Nov. 05, 2017	May 05, 2017	May 13, 2016	Mar. 01, 2016	Jan. 31, 2017	Oct. 18, 2016	Sep. 15, 2016	May 19, 2016	Sep. 30, 2017	Sep. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jul. 06, 2015
Debt Conversion Beneficial Ownership Percentage	4.99%
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	58.00%
Common Stock, Par or Stated Value Per Share									$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Debt Conversion, Original Debt, Amount									$ 51,729
Convertible Promissory Notes [Member]
Debt Conversion Beneficial Ownership Percentage		4.99%
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger		58.00%		45.00%
Common Stock, Par or Stated Value Per Share											$ 0,001
Debt Instrument, Maturity Date		Feb. 20, 2018
Debt Conversion, Original Debt, Amount									$ 46,729	$ 254,384
Redeemable Convertible Debt [Member]
Debt Instrument, Interest Rate, Stated Percentage						7.00%
Debt Conversion Beneficial Ownership Percentage			4.99%	4.99%		9.99%	4.99%	4.99%
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger			52.00%			57.50%	55.00%	52.00%
Debt Instrument, Maturity Date						Jul. 18, 2017
Convertible Notes Six [Member]
Convertible Notes Payable						$ 100,000
Convertible Notes Seven [Member]
Convertible Notes Payable						25,000
Convertible Note Two [Member]
Convertible Notes Payable				$ 150,000
Convertiable Note Eight [Member]
Convertible Notes Payable						$ 140,000
Debt Instrument, Interest Rate, Stated Percentage						7.00%
Debt Conversion Beneficial Ownership Percentage						9.99%
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger						80.00%
Debt Instrument, Maturity Date						Jul. 18, 2017
Convertible Note One [Member]
Convertible Notes Payable								$ 75,000
Debt Instrument, Interest Rate, Stated Percentage								8.00%
Debt Instrument, Maturity Date								May 19, 2017
Convertible Note Two and Three [Member]
Debt Instrument, Interest Rate, Stated Percentage				24.00%
Convertible Note Four [Member]
Convertible Notes Payable			$ 75,000
Debt Instrument, Interest Rate, Stated Percentage			8.00%
Debt Instrument, Maturity Date			May 13, 2017
Convertible Note Five [Member]
Convertible Notes Payable							$ 30,000
Debt Instrument, Interest Rate, Stated Percentage							8.00%
Debt Instrument, Maturity Date							Sep. 15, 2017
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger Description	In the event the Note holder exercises the right of conversion, the conversion price will be equal to 55% of the lowest closing bid price of the Company’s common stock for the twenty (20) trading days prior to the date of conversion. If lowest closing bid price is equal to or less than $0.01, then the conversion price will be 45% of the bid price.
Convertible Notes Nine [Member]
Convertible Notes Payable		$ 23,000			$ 33,000
Debt Instrument, Interest Rate, Stated Percentage					12.00%
Debt Instrument, Maturity Date					Nov. 05, 2017
Convertible Notes Ten [Member]
Debt Instrument, Interest Rate, Stated Percentage		12.00%

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Stockholders' Deficit (Details Textual) - USD ($)		3 Months Ended			9 Months Ended
	Nov. 01, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2017	Dec. 31, 2016	Jul. 06, 2015
Stockholders' Deficit [Line Items]
Common Stock, Shares Authorized		20,000,000,000			20,000,000,000	20,000,000,000
Common Stock, Shares, Issued		3,883,647,339			3,883,647,339	35,644,874
Common Stock, Shares, Outstanding		3,883,647,339			3,883,647,339	35,644,874
Common Stock, Par or Stated Value Per Share		$ 0.0001			$ 0.0001	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized		20,000,000			20,000,000	20,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.0001			$ 0.0001	$ 0.0001
Stock Issued During Period, Shares, Share-based Compensation, Gross		1,400,000,000
Stock Issued During Period, Value, Share-based Compensation, Gross		$ 140,000
Debt Conversion, Converted Instrument, Shares Issued		675,627,230			6,149,850,000
Debt Conversion, Original Debt, Amount		$ 51,729
Preferred Stock, Shares Outstanding		1,000,000			1,000,000	1,000,000
Stockholders' Equity, Post Reverse Stock Split		3,883,648			3,883,648	35,645
Stock Issued During Period, Shares, Conversion of Convertible Securities		533,348,384
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments		$ 30,779
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt, Subsequent Adjustments		22,556
Convertible Promissory Notes [Member]
Stockholders' Deficit [Line Items]
Common Stock, Par or Stated Value Per Share				$ 0,001
Debt Conversion, Original Debt, Amount		$ 46,729			$ 254,384
Stockholders' Equity, Post Reverse Stock Split		6,149,850			6,149,850
Series A Preferred Stock [Member]
Stockholders' Deficit [Line Items]
Preferred Stock, Par or Stated Value Per Share		$ 0.0001			$ 0.0001
Advisory And Consultancy services [Member]
Stockholders' Deficit [Line Items]
Stock Issued During Period, Value, New Issues				$ 36,000
Stock Issued During Period, Shares, New Issues				4,000,000
Subsequent Event [Member]
Stockholders' Deficit [Line Items]
Stockholders' Equity, Reverse Stock Split	own one share of Common Stock for every one thousand (1,000)
Adjustments to Additional Paid in Capital, Stock Split	$ 387,978
Management Services [Member]
Stockholders' Deficit [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross			40,000,000
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 108,000
Stock Issued During Period, Shares, Issued for Services		52,000
Stockholders' Equity, Post Reverse Stock Split			40,000
Advisory And Other Services [Member]
Stockholders' Deficit [Line Items]
Stockholders' Equity, Post Reverse Stock Split				4,000
Website Development Services [Member]
Stockholders' Deficit [Line Items]
Stock Issued During Period, Shares, Issued for Services		35,000,000
Stock Issued During Period, Value, Issued for Services		$ 247,306
Common Stock, Capital Shares Reserved for Future Issuance		80,000			80,000
Gain Loss On Settlement Of Website Development Service Cost		$ 226,306
Stockholders' Equity, Post Reverse Stock Split		35,000			35,000
Common Stock [Member] | Convertible Promissory Notes [Member]
Stockholders' Deficit [Line Items]
Debt Conversion, Converted Instrument, Shares Issued			234,458,494	13,916,741
Debt Conversion, Original Debt, Amount			$ 181,530	$ 26,126
Stockholders' Equity, Post Reverse Stock Split		675,627	234,458	13,917	675,627
Common Stock [Member] | Website Development Services [Member]
Stockholders' Deficit [Line Items]
Stock Issued During Period, Value, Issued for Services		$ 21,000
Capitalization [Member]
Stockholders' Deficit [Line Items]
Common Stock, Shares Authorized		20,000,000,000			20,000,000,000
Common Stock, Shares, Outstanding		3,883,647,339			3,883,647,339
Common Stock, Par or Stated Value Per Share		$ 0.0001			$ 0.0001
Preferred Stock, Shares Authorized		20,000,000			20,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.0001			$ 0.0001
Preferred Stock, Shares Outstanding		1,000,000			1,000,000
Rubin Schindermann [Member]
Stockholders' Deficit [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross				20,000,000
Stock Issued During Period, Value, Share-based Compensation, Gross				$ 50,000
Stockholders' Equity, Post Reverse Stock Split				20,000
Alexander Starr [Member]
Stockholders' Deficit [Line Items]
Stockholders' Equity, Post Reverse Stock Split		1,400,000			1,400,000

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Loss Per Share (Details Textual) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Loss Per Share [Line Items]
Debt Conversion, Converted Instrument, Shares Issued	675,627,230	6,149,850,000
Debt Instrument, Convertible, Conversion Price	$ 0.0001	$ 0.0001
Stockholders' Equity, Post Reverse Stock Split	3,883,648	3,883,648	35,645
Convertible Promissory Notes [Member]
Loss Per Share [Line Items]
Stockholders' Equity, Post Reverse Stock Split	6,149,850	6,149,850

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Contingencies and commitments (Details Textual)	Sep. 30, 2017 USD ($)
Website Development Services [Member]
Weekly Commitments	$ 1,250

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Subsequent Events (Details Textual)	Nov. 01, 2017
Subsequent Event [Member]
Subsequent Event [Line Items]
Stockholders' Equity, Reverse Stock Split	own one share of Common Stock for every one thousand (1,000)