Quarterly report pursuant to Section 13 or 15(d)

Convertible Notes Payable (Tables)

v3.4.0.3
Convertible Notes Payable (Tables)
 3 Months Ended
Mar. 31, 2016
Notes Payable and Convertible Notes Payable [Abstract]  
Schedule of convertible notes payable
Convertible Note   Issuance Date   Maturity Date   Interest 
Rate		     Original Borrowing     Balance at March 31, 2016     Balance at December 31, 2015  
                                 
Note 1   October 2, 2014   December 31, 2015     5.0 %   $ 100,000     $ 100,000     $ 100,000  
Note 2   December 23, 2015   September 23, 2016     8.0 %   $ 21,000     $ 21,000     $ 21,000  
                                         
Total                             121,000       121,000  
                                         
Debt Discount                             (1,983 )     (9,333 )
                                         
Net balance                             119,017     $ 111,667  
Schedule of fair value embedded derivative movement

The following table represents fair value of embedded derivative movement from the date of issuance to March 31, 2016:

 

Embedded Derivative Liabilities   Fair Value at Date of Issuance     Changes in Fair Value     Fair Value at March 31, 2016  
                   
Note 1 – Issued in 2014   $ 70,334     $ (31,815 )   $ 38,519  
Note 2 – Issued in 2015   $ 20,000     $ (20,000 )   $ -  
Note 3 – Issued in 2015   $ 10,500     $ 219,800     $ 230,300  
                         
Total           $ 167,985     $ 268,819  

 

The following table represents fair value of embedded derivative movement from the date of issuance to December 31, 2015:

 

Embedded Derivative Liabilities   Fair Value at Date of Issuance     Changes in Fair Value     Fair Value at March 31, 2016  
                   
Note 1 – Issued in 2014   $ 70,334     $ 5,856     $ 76,190  
Note 2 – Issued in 2015   $ 20,000     $ (20,000 )   $ -  
Note 3 – Issued in 2015   $ 10,500     $ 21,000     $ 31,500  
                         
Total           $ 6,856     $ 107,690