Basis of Presentation and Business
|12 Months Ended|
Dec. 31, 2015
|Accounting Policies [Abstract]|
|Basis of Presentation and Business||
Basis of presentation
The accompanying consolidated financial statements include the accounts of KSIX Media Holdings, Inc. (Holdings), a Nevada corporation, and its wholly owned subsidiaries, Ksix Media, Inc. (Media), a Nevada corporation, Ksix, LLC (KSIX), a Nevada limited liability company that was formed on September 14, 2011, Blvd. Media Group, LLC (BMG), a Nevada limited liability company that was formed on January 29, 2009, DigitizeIQ, LLC (DIQ) an Illinois limited liability company that was formed on July 23, 2014 and North American Exploration, Inc. (NAE), a Nevada corporation that was incorporated on August 18, 2006 (collectively the Company). All significant intercompany balances and transactions have been eliminated in consolidation.
On October 12, 2015, the Company entered into an Agreement for the Exchange of Common Stock (Agreement) with DIQ and its sole owner. DIQ is a full service digital advertising agency which became a wholly owned subsidiary of the Company.
On or about April 27, 2015, KSIX Media Holdings, Inc. (formerly North American Energy Resources, Inc. the Registrant) (the Company) entered into a Share Exchange Agreement (the Agreement) with all of the shareholders of KSIX Media, Inc. whose primary business is the operation of a diverse advertising network through its wholly-owned subsidiaries KSIX and BMG. Pursuant to the Agreement, the Company acquired all of the issued and outstanding shares (22,600,000 shares) of the common stock of KSIX Media, Inc. from its shareholders in exchange for 28,000,000 restricted shares of its common stock. In July 2015, the Company completed the change of its name from North American Energy Resources, Inc. to KSIX Media Holdings, Inc.
The share exchange agreement was accounted for as a reverse merger, whereby KSIX Media, Inc. is the accounting acquirer and KSIX Media Holdings, Inc. is the legal surviving reporting company. The historical financial statements represent those of KSIX Media, Inc. which was formed on November 5, 2014.
On December 23, 2014, Media acquired the membership interests of KSIX and BMG, as described in Note 6.
Prior to the consummation of the stock exchange agreement, North American Energy Resources, Inc. had an April 30 year end and KSIX Media, Inc. had a December 31 year end. The board of directors elected to change the year end to December 31 and assumed the fiscal year end of KSIX Media, Inc.
KSIX and BMG are internet marketing companies. KSIX is an advertising network designed to create revenue streams for their affiliates and to provide advertisers with increased measurable audience. KSIX provides performance based marketing solutions to drive traffic and conversions within a Cost-Per-Action (CPA) business model. KSIX has an online advertising network that works directly with advertisers and other networks to promote advertiser campaigns and manages offer tracking, reporting and distribution.
BMG provides the tools for web publishers to drive traffic and increase revenue. BMGs mission is to monetize the Internet; promoting incentive based advertisements resulting in more clicks, greater lead generation and increased revenues. KSIX and BMG are both Las Vegas based technology companies, advertising networks, and SaaS (Software as a Service) developers that monetize web based content using custom developed enterprise software applications.
DIQ is a full service digital advertising agency specializing in survey generation and landing page optimization specifically designed for mass tort action lawsuits.
The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
No definition available.