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NATURE OF OPERATIONS, BASIS OF PRESENTATION, RECAPITALIZATION, AND GOING CONCERN
12 Months Ended
Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NATURE OF OPERATIONS, RECAPITALIZATION, AND GOING CONCERN

NOTE 1: NATURE OF OPERATIONS, RECAPITALIZATION, AND GOING CONCERN


Nature of Operations

Aegea, Inc., (“the Company”) began operations on February 3, 2012, and is a development stage company with the purpose of developing a mega-resort city in South Florida that will become an international community and leisure destination worldwide. The resort will offer residents and guests a unique living environment, integrating residential and hospitality with attractions and entertainment, and will include theme parks, a sports and education complex, and various venues for music and the arts. The character of the project will be marked by a network of canals and lagoons with authentic immersive architecture from around the world. Aegea’s shopping, dining and hospitality will become a global marketplace for domestic and international brands.


Recapitalization

On July 22, 2013, members of Aegea, LLC exchanged 100% of the membership interests in Aegea, LLC for 94,000,000 shares of Aegea, Inc. common stock, no par value per share, representing approximately 88.7% of Aegea, Inc.’s issued and outstanding shares of common stock (the “Exchange”).  The Exchange was made pursuant to the terms of the June 5, 2013 Amended and Restated Share Exchange Agreement by and among Aegea, LLC, its members, Aegea, Inc., Energis Petroleum, LLC, a Florida limited liability company (“Energis”) and the members of Energis.  The former members of Aegea, LLC obtained voting and management control of Aegea, Inc. upon completion of the Exchange.


Aegea, Inc.’s acquisition of Aegea, LLC was accounted for as a recapitalization of Aegea LLC since the members of Aegea, LLC obtained voting and managing control of Aegea, Inc.  Aegea, LLC was the acquirer for financial reporting purposes and Aegea, Inc. was the acquired company.  Consequently, the consolidated financial statements after completion of the acquisition include the assets and liabilities of both Aegea, LLC and Aegea, Inc., the historical operations of Aegea, LLC and their consolidated operations from the July 22, 2013 closing date of the acquisition.  Aegea, LLC retroactively applied its name change and recapitalization pursuant to the terms of the Share Exchange Agreement for all periods presented in the accompanying consolidated financial statements.


Development Stage

The Company has no revenues and is in the development stage.  Activities during the development stage consist of organizational activities, capital raising, recapitalization, and developing the business plan.


Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company, and its wholly-owned subsidiaries Florida Heartland EB-5 Regional Center LLC, and Aegea, LLC.  All inter-company balances and transactions have been eliminated in consolidation.


Net Earnings (Loss) per Share

The Company computes net earnings (loss) per share in accordance with ASC 260-10, “Earnings per Share.” ASC 260-10 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. At December 31, 2013, we excluded 1,000 shares of Series B Preferred Stock convertible into 1,000 shares of common stock and 827,273 shares of the Company’s common stock reserved for issuance upon conversion of convertible notes as their effect was anti-dilutive.


Going Concern

As reflected in the accompanying consolidated financial statements, the Company had a net loss and net cash used in operations of $1,618,348 and $389,211, respectively, for the year ended December 31, 2013 and a working capital deficit, stockholders’ deficit, and deficit accumulated during the development stage of $511,124, $511,124, and $2,013,756, respectively, at December 31, 2013 and is in the development stage with no revenues.  These matters raise substantial doubt about the Company’s ability to continue as a going concern.  The ability of the Company to continue as a going concern is dependent on the Company’s ability to further implement its business plan, raise additional capital, and generate revenues.  The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.