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Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2013
Apr. 04, 2014
Jun. 30, 2013
Document And Entity Information      
Entity Registrant Name EMPIRE GLOBAL CORP.    
Entity Central Index Key 0001080319    
Document Type 10-K    
Document Period End Date Dec. 31, 2013    
Amendment Flag false    
Current Fiscal Year End Date --12-31    
Is Entity a Well-known Seasoned Issuer? No    
Is Entity a Voluntary Filer? No    
Is Entity's Reporting Status Current? Yes    
Entity Filer Category Smaller Reporting Company    
Entity Public Float     $ 186,758dei_EntityPublicFloat
Entity Common Stock, Shares Outstanding   18,675,800dei_EntityCommonStockSharesOutstanding  
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2013    
Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets    
Cash      
Current Assets      
Total Assets 0us-gaap_Assets 0us-gaap_Assets
Current Liabilities    
Accounts payable and accrued liabilities 8,265us-gaap_AccruedLiabilitiesCurrent 6,250us-gaap_AccruedLiabilitiesCurrent
Advances from stockholders 165,971us-gaap_DueToRelatedPartiesCurrent 159,575us-gaap_DueToRelatedPartiesCurrent
Total Current Liabilities 174,236us-gaap_LiabilitiesCurrent 165,825us-gaap_LiabilitiesCurrent
Commitments and Contingencies     
Stockholders Deficiency    
Preferred Stock, $0.0001 par value, 20,000,000 shares authorized, none issued      
Capital Stock, $0.0001 par value, 80,000,000 shares authorized; 18,675,800 shares issued and outstanding, 1,868us-gaap_CommonStockValue 1,868us-gaap_CommonStockValue
Additional paid-in capital 4,924,844us-gaap_AdditionalPaidInCapital 4,916,600us-gaap_AdditionalPaidInCapital
Deficit accumulated during the development stage (142,668)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (126,013)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Accumulated Deficit (4,958,280)us-gaap_RetainedEarningsAccumulatedDeficit (4,958,280)us-gaap_RetainedEarningsAccumulatedDeficit
Total Stockholders' Deficiency (174,236)us-gaap_StockholdersEquity (165,825)us-gaap_StockholdersEquity
Total Liabilities and Stockholder' Equity $ 0us-gaap_LiabilitiesAndStockholdersEquity $ 0us-gaap_LiabilitiesAndStockholdersEquity
Balance Sheets (Parenthetical) (USD $)
Dec. 31, 2013
Dec. 31, 2012
STOCKHOLDERS' EQUITY    
Preferred stock - par value $ 0.0001us-gaap_PreferredStockParOrStatedValuePerShare $ 0.0001us-gaap_PreferredStockParOrStatedValuePerShare
Preferred stock - authorized 20,000,000us-gaap_PreferredStockSharesAuthorized 20,000,000us-gaap_PreferredStockSharesAuthorized
Preferred stock - issued      
Capital stock - par value $ 0.0001us-gaap_CommonStockParOrStatedValuePerShare $ 0.0001us-gaap_CommonStockParOrStatedValuePerShare
Capital stock - authorized 80,000,000us-gaap_CommonStockSharesAuthorized 80,000,000us-gaap_CommonStockSharesAuthorized
Capital stock - issued 18,675,800us-gaap_CommonStockSharesIssued 18,675,800us-gaap_CommonStockSharesIssued
Statements of Operations (USD $)
12 Months Ended 48 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Income Statement [Abstract]      
Revenue         
General and administrative expenses 8,411us-gaap_GeneralAndAdministrativeExpense 15,825us-gaap_GeneralAndAdministrativeExpense 120,279us-gaap_GeneralAndAdministrativeExpense
Interest expense - stockholders 8,244us-gaap_InterestExpenseRelatedParty 7,598us-gaap_InterestExpenseRelatedParty 22,389us-gaap_InterestExpenseRelatedParty
Loss from continuing operations (16,655)us-gaap_IncomeLossFromContinuingOperations (23,423)us-gaap_IncomeLossFromContinuingOperations (142,668)us-gaap_IncomeLossFromContinuingOperations
Discontinued operation: Loss on disposal of discontinued operations     (6,458)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net Loss $ (16,655)us-gaap_NetIncomeLoss $ (23,423)us-gaap_NetIncomeLoss $ (149,126)us-gaap_NetIncomeLoss
Basic and fully diluted loss per share $ (0.001)us-gaap_EarningsPerShareBasicAndDiluted $ (0.001)us-gaap_EarningsPerShareBasicAndDiluted  
Basic and fully diluted weighted average number of shares 18,675,800us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 18,675,800us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted  
Shareholders Equity (USD $)
Common Stock
Additional Paid-In Capital
Accumlated Other Comprehensive Loss
Accumulated Deficit
Total
Beginning Balance, Amount at Jan. 04, 2010 $ 1,868us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 4,902,455us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (7,832)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
$ (4,943,990)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ (47,499)us-gaap_StockholdersEquity
Beginning Balance, Shares at Jan. 04, 2010 18,675,800us-gaap_SharesIssued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
       
Foreign currency     7,832us-gaap_TemporaryEquityForeignCurrencyTranslationAdjustments
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
  7,832us-gaap_TemporaryEquityForeignCurrencyTranslationAdjustments
Net Loss       (85,136)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(85,136)us-gaap_ProfitLoss
Ending Balance, Amount at Dec. 31, 2010 1,868us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
4,902,455us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
   (5,029,126)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(124,803)us-gaap_StockholdersEquity
Ending Balance, Shares at Dec. 31, 2010 18,675,800us-gaap_SharesIssued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
       
Imputed interest   6,547us-gaap_TemporaryEquityAccretionOfInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
    6,547us-gaap_TemporaryEquityAccretionOfInterest
Net Loss       (31,744)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(31,744)us-gaap_ProfitLoss
Ending Balance, Amount at Dec. 31, 2011 1,868us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
4,909,002us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
  (5,060,870)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(150,000)us-gaap_StockholdersEquity
Ending Balance, Shares at Dec. 31, 2011 18,675,800us-gaap_SharesIssued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
       
Imputed interest   7,598us-gaap_TemporaryEquityAccretionOfInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
    7,598us-gaap_TemporaryEquityAccretionOfInterest
Net Loss       (23,423)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(23,423)us-gaap_ProfitLoss
Ending Balance, Amount at Dec. 31, 2012 1,868us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
4,916,600us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
  (5,084,293)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(165,825)us-gaap_StockholdersEquity
Ending Balance, Shares at Dec. 31, 2012 18,675,800us-gaap_SharesIssued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
       
Imputed interest   8,244us-gaap_TemporaryEquityAccretionOfInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
    8,244us-gaap_TemporaryEquityAccretionOfInterest
Net Loss       (16,655)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(16,655)us-gaap_ProfitLoss
Ending Balance, Amount at Dec. 31, 2013 $ 1,868us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 4,924,844us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
  $ (5,100,948)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ (174,236)us-gaap_StockholdersEquity
Ending Balance, Shares at Dec. 31, 2013 18,675,800us-gaap_SharesIssued
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
       
Statements of Cash Flows (USD $)
12 Months Ended 48 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Cash Flows from Operating Activities      
Net loss from continuing operations $ (16,655)us-gaap_IncomeLossFromContinuingOperations $ (23,423)us-gaap_IncomeLossFromContinuingOperations $ (142,668)us-gaap_IncomeLossFromContinuingOperations
Net loss from discontinued operations     (6,458)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net loss (16,655)us-gaap_NetIncomeLoss (23,423)us-gaap_NetIncomeLoss (149,126)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation       879us-gaap_DepreciationDepletionAndAmortization
Imputed interest 8,244us-gaap_InterestExpenseRelatedParty 7,598us-gaap_InterestExpenseRelatedParty 22,389us-gaap_InterestExpenseRelatedParty
Disposal of equipment     2,785us-gaap_AssetImpairmentCharges
Loss on disposal of discontinued operations     6,458us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Changes in operating assets and liabilities      
Accounts payable and accrued liabilities 2,015us-gaap_IncreaseDecreaseInAccruedLiabilities 6,250us-gaap_IncreaseDecreaseInAccruedLiabilities 8,265us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities (6,396)us-gaap_NetCashProvidedByUsedInOperatingActivities (9,575)us-gaap_NetCashProvidedByUsedInOperatingActivities (108,350)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash Flows from Financing Activities      
Advances from stockholders 6,396us-gaap_ProceedsFromRelatedPartyDebt 9,575us-gaap_ProceedsFromRelatedPartyDebt 108,350us-gaap_ProceedsFromRelatedPartyDebt
Net cash provided by financing activities 6,396us-gaap_NetCashProvidedByUsedInFinancingActivities 9,575us-gaap_NetCashProvidedByUsedInFinancingActivities 108,350us-gaap_NetCashProvidedByUsedInFinancingActivities
Net (decrease) increase in cash        
Cash - beginning of period        
Cash - end of period         
Supplemental disclosure of cash flow information:      
Cash paid during the year for: Interest        
Cash paid during the year for: Income taxes        
Nature of Business and Operations
12 Months Ended
Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Business and Operations

1. Nature of Business and Operations

 

Empire Global Corp. ("Empire" or "the Company") was incorporated in the state of Delaware on August 26, 1998 as Pender International Inc. and maintains its principal executive office headquartered in Canada. On September 30, 2005 contemporaneously with a change in management and business plan changed its name to Empire Global Corp.

 

The Company has been looking for potential acquisitions. Accordingly, the Company's activities have been accounted for as those of a Development Stage Enterprise starting from January 5, 2010. The Company's financial statements are identified as those of a development stage company, and the statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception.

 

Going Concern
12 Months Ended
Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

2. Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

 

As shown in the accompanying financial statements, the Company has no assets,has incurred significant losses from operations since its inception and has not yet established any source of revenues. These conditions, among others, raise substantial doubt about the Company's ability to continue as a going concern. Management plans to mitigate its losses in future years by significantly reducing its operating expenses and seeking out new business opportunities. However, there is no assurance that the Company will be able to obtain additional financing, reduce its operating expenses or be successful in locating or acquiring a viable business.

 

The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

Summary of Significant Accounting Policies
12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

3. Summary of Significant Accounting Policies

 

a) Basis of Presentation and Consolidation

 

The Company is considered to be in the development stage as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC")915-10-05. This standard requires companies to report their operations,shareholders equity and cash flows from inception through the reporting date. The Company will continue to be reported as a development stage entity until,among other factors, revenues are generated from management's intended operations. Management has provided financial data since inception (January 5, 2010).

 

The accompanying financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in US dollars. The consolidated financial statements include the accounts of the Company and its subsidiary.

 

b) Cash

 

Cash consists of cash on hand and cash deposited with financial institutions, including money market accounts, and commercial paper purchased with an original maturity of three months or less.

 

c) Use of Estimates

 

In preparing the Company's financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.

 

Significant estimates made by management are, among others, realizable of long-lived assets, and deferred taxes. Management reviews its estimates on a quarterly basis and, where necessary, makes adjustments prospectively.

 

d) Property, Plant and Equipment

 

Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses.

 

Depreciation is computed using the straight-line method over the useful lives of the assets. Major renewals and betterments are capitalized and depreciated; maintenance and repairs that do not extend the life of the respective assets are expensed as incurred. Upon disposal of assets, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the statements of income and comprehensive income.

 

e) Impairment of Long Lived Assets

 

In accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 360-10, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets, such as property, plant and equipment and purchased intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable, or it is reasonably possible that these assets could become impaired as a result of technological or other industrial changes. The determination of recoverability of assets to be held and used is made by comparing the carrying amount of an asset to future undiscounted cash flows to be generated by the assets.

 

If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. During the reporting periods there was no impairment loss of long-lived assets recognized.

 

f) Earnings Per Share

 

FASB ASC 260, "Earnings Per Share" provides for calculation of "basic" and "diluted" earnings per share. Basic net earnings per common share are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net earnings per common share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period.

 

Basic and diluted loss per share was the same, at December 31, 2013 and 2012, as there were no common stock equivalents outstanding.

 

g) Income Taxes

 

We use the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, "Income Taxes." Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity's financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.

 

ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented.

 

h) Fair Value of Financial Instruments

 

We measure our financial assets and liabilities in accordance with accounting principles generally accepted in the United States of America. The carrying value of the Company's short term investments, prepaid and sundry assets, accounts payable and accrued charges, and advances from shareholder approximate fair value because of the short term maturity of these financial instruments.

 

The Company adopted accounting guidance for financial assets and liabilities (ASC 820). The adoption did not have a material impact on our results of operations, financial position or liquidity. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

 

Level 1: Observable inputs such as quoted prices (unadjusted) in active market for identical assets or liabilities.

 

Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

 

Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.

 

The Company has no assets or liabilities measured at fair value or at recurring basis.

 

i) Comprehensive Income

 

The Company adopted FASB ASC 220-10-45, "Reporting Comprehensive Income.", ASC 220-10-45 establishes standards for reporting and presentation of comprehensive income and its components in a full set of financial statements. Comprehensive income is presented in the statements of operations, and consists of net income and unrealized gains (losses) on available for sale marketable securities; foreign currency translation adjustments and changes in market value of future contracts that qualify as a hedge; and negative equity adjustments.

Advances from Stockholders
12 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Advances from Stockholders

4. Advances from stockholders


Advances from stockholders are non-interest bearing and are due on demand. Interest was imputed at 5% per annum. The Company recorded an interest expense of $8,244 and $7,598 for the year ended December 31, 2013 and December 31, 2012 respectively. Advances from stockholders as of December 31, 2013 and December 31, 2012 are as follows:

 

   December 31,  December 31,
   2013  2012
       
Braydon Capital Corp.  $31,314   $31,314 
Gold Street Capital   134,657    128,261 
Total advances from related parties:  $165,971   $159,575 
           
Income Taxes
12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Income Taxes

5. Income Taxes

 

The Company is incorporated in the United States of America and is subject to United States federal taxation. No provisions for income taxes have been made, as the Company had no U.S. taxable income for the year ended December 31, 2013.


The Company's deferred tax assets as of December 31, 2013 and 2012 are as follows:

 

 

   December 31, 2013  December 31, 2012
Net loss carryforward  $1,785,000   $1,779,000 
Valuation allowance   (1,785,000)   (1,779,000)
Deferred tax assets  $—     $—   


The Company has accumulated a net operating loss carryforward ("NOL") of approximately $5 million as of December 31, 2013. This NOL may be offset against future taxable income through the year 2033. The use of these losses to reduce future income taxes will depend on the generation of sufficient taxable income prior to the expiration of the NOL. No tax benefit has been reported in the financial statements for the nine months ended December 31, 2013 and 2012 because it has been fully offset by a valuation reserve. The use of future tax benefit is undetermined because we presently have no operations.

NOL incurred are subject to limitation due to any ownership change (as defined under Section 382 of the Internal Revenue Code of 1986) which resulted in a change in business direction. Unused limitations may be carried over to future years until the NOLs expire. Utilization of NOLs may also be limited in any one year by alternative minimum tax rules.

Subsequent Events
12 Months Ended
Dec. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events

6. Subsequent Events

 

The Company has evaluated all events or transactions that occurred subsequent to December 31, 2013 through the date these financial statements were issued, and has disclosed as follows:

 

On January 1, 2014 Empire Global Corp. entered into a Lease Assignment Agreement (the "Agreement") with Finca Zephir Veintitre S.A. ("Finca") to Lease with Option to Buy the El Sabanero Beach Hotel and Casino (the "property") situated on Flamingo Beach, in Santa Cruz, Guanacaste, Costa Rica. The Company and the property owners were unable to reach an agreement on purchase option terms, therefore the Agreement was rescinded on March 31, 2014 retroactive to the effective date of the Agreement on January 1, 2014.

 

On January 31, 2014, Empire Global Corp. signed a letter of intent to acquire Multigioco Srl a licenced gaming operator organized in 2011 based in Rome, Italy.

 

On the closing date the company will acquire 70% of the issued and outstanding shares of the yet to be named Maltese company and an additional 15% at the end of year 2 plus the remaining 15% at the end of year 3 which acquisition includes all of the assets, intellectual property, operations and licences governed under the Amministrazione Autonoma Monopoli di Stato (AAMS) in Italy.

 

Multigioco has over 750 venues under its licence mainly situated throughout Central and South Italy, with an extensive current on-line platform and certified for PosteItalia, MasterCard, Visa and Skrill Gaming Card use and with mobile applications on the horizon.

Summary of Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Basis of Presentation and Consolidation

a) Basis of Presentation and Consolidation

 

The Company is considered to be in the development stage as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC")915-10-05. This standard requires companies to report their operations,shareholders equity and cash flows from inception through the reporting date. The Company will continue to be reported as a development stage entity until,among other factors, revenues are generated from management's intended operations. Management has provided financial data since inception (January 5, 2010).

 

The accompanying financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in US dollars. The consolidated financial statements include the accounts of the Company and its subsidiary.

Cash

b) Cash

 

Cash consists of cash on hand and cash deposited with financial institutions, including money market accounts, and commercial paper purchased with an original maturity of three months or less.

Use of Estimates

c) Use of Estimates

 

In preparing the Company's financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.

 

Significant estimates made by management are, among others, realizability of long-lived assets, and deferred taxes. Management reviews its estimates on a quarterly basis and, where necessary, makes adjustments prospectively.

Property, Plant and Equipment

d) Property, Plant and Equipment

 

Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. Depreciation is computed using the straight-line method over the useful lives of the assets. Major renewals and betterments are capitalized and depreciated; maintenance and repairs that do not extend the life of the respective assets are expensed as incurred. Upon disposal of assets, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the statements of income and comprehensive income.

Impairment of Long Lived Assets

e) Impairment of Long Lived Assets

 

In accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 360-10, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets, such as property, plant and equipment and purchased intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable, or it is reasonably possible that these assets could become impaired as a result of technological or other industrial changes. The determination of recoverability of assets to be held and used is made by comparing the carrying amount of an asset to future undiscounted cash flows to be generated by the assets.

 

If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. During the reporting periods there was no impairment loss of long-lived assets recognized.

Earnings Per Share

f) Earnings Per Share

 

FASB ASC 260, "Earnings Per Share" provides for calculation of "basic" and "diluted" earnings per share. Basic net earnings per common share are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net earnings per common share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period.

 

Basic and diluted loss per share was the same, at December 31, 2013 and 2012, as there were no common stock equivalents outstanding.

Income Taxes

g) Income Taxes

 

We use the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, "Income Taxes." Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity's financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.

 

ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented.

Fair Value of Financial Instruments

h) Fair Value of Financial Instruments

 

We measure our financial assets and liabilities in accordance with accounting principles generally accepted in the United States of America. The carrying value of the Company's short term investments, prepaid and sundry assets, accounts payable and accrued charges, and advances from shareholder approximate fair value because of the short term maturity of these financial instruments.

 

The Company adopted accounting guidance for financial assets and liabilities (ASC 820). The adoption did not have a material impact on our results of operations, financial position or liquidity. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

 

Level 1: Observable inputs such as quoted prices (unadjusted) in active market for identical assets or liabilities.

 

Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

 

Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.

 

The Company has no assets or liabilities measured at fair value or at recurring basis.

Comprehensive Income

i) Comprehensive Income

 

The Company adopted FASB ASC 220-10-45, "Reporting Comprehensive Income.", ASC 220-10-45 establishes standards for reporting and presentation of comprehensive income and its components in a full set of financial statements. Comprehensive income is presented in the statements of operations, and consists of net income and unrealized gains (losses) on available for sale marketable securities; foreign currency translation adjustments and changes in market value of future contracts that qualify as a hedge; and negative equity adjustments.

Advances from Stockholders (Tables)
12 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related party

 

   December 31,  December 31,
   2013  2012
       
Braydon Capital Corp.  $31,314   $31,314 
Gold Street Capital   134,657    128,261 
Total advances from related parties:  $165,971   $159,575 
           

Income Taxes (Tables)
12 Months Ended
Dec. 31, 2013
Income Taxes Tables  
Deferred tax assets

 

   December 31, 2013  December 31, 2012
Net loss carryforward  $1,785,000   $1,779,000 
Valuation allowance   (1,785,000)   (1,779,000)
Deferred tax assets  $—     $—   

Advances from Stockholders - Related party (Details) (USD $)
Dec. 31, 2013
Dec. 31, 2012
Related Party Transaction [Line Items]    
Advances from stockholders $ 165,971us-gaap_DueToRelatedPartiesCurrent $ 159,575us-gaap_DueToRelatedPartiesCurrent
Braydon Capital Corp. [Member]    
Related Party Transaction [Line Items]    
Advances from stockholders 31,314us-gaap_DueToRelatedPartiesCurrent
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= EMGL_BraydonCapitalCorpMember
31,314us-gaap_DueToRelatedPartiesCurrent
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= EMGL_BraydonCapitalCorpMember
Gold Street Capital [Member]    
Related Party Transaction [Line Items]    
Advances from stockholders $ 134,657us-gaap_DueToRelatedPartiesCurrent
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= EMGL_GoldStreetCapitalCorpMember
$ 128,261us-gaap_DueToRelatedPartiesCurrent
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= EMGL_GoldStreetCapitalCorpMember
Advances from Stockholders (Details Narrative) (USD $)
12 Months Ended 48 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Related Party Transactions [Abstract]      
Interest rate 5.00%us-gaap_RelatedPartyTransactionRate    
Interest expense - stockholders $ 8,244us-gaap_InterestExpenseRelatedParty $ 7,598us-gaap_InterestExpenseRelatedParty $ 22,389us-gaap_InterestExpenseRelatedParty
Income Taxes (Details) (USD $)
Dec. 31, 2013
Dec. 31, 2012
Income Tax Disclosure [Abstract]    
Net loss carryforward $ 1,785,000us-gaap_DeferredTaxAssetsOperatingLossCarryforwards $ 1,779,000us-gaap_DeferredTaxAssetsOperatingLossCarryforwards
Valuation allowance (1,785,000)us-gaap_OperatingLossCarryforwardsValuationAllowance (1,779,000)us-gaap_OperatingLossCarryforwardsValuationAllowance
Deferred tax assets      
Income Taxes (Details Narrative) (USD $)
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Net operating loss carryforward $ 5,000,000us-gaap_OperatingLossCarryforwards