Annual report pursuant to Section 13 and 15(d)

Convertible Notes Payable (Tables)

v3.7.0.1
Convertible Notes Payable (Tables)
12 Months Ended
Dec. 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 December 31, 2016  
                           
Note 1   October 2, 2014   December 31, 2015     7.0 %   $ 100,000     $ 100,000  
Note 2   June 10, 2015   March 13, 2016     8.0 %   $ 28,000       -  
Note 3   December 23, 2015   September 23, 2016     16.0 %     21,000       21,000  
                                 
Total                             121,000  
                                 
Debt Discount                             -  
                                 
Net balance                           $ 121,000  
Schedule of fair value embedded derivative movement

 

Beneficial Conversion Feature Liability   Fair Value at Date of Issuance     Changes in Fair Value 
2016
    Fair Value at December 31, 2016  
                   
Note 1 – Issued in 2014   $ 70,334     $ (34,778 )   $ 35,556  
Note 2 – Issued in 2015   $ 20,000       (20,000 )     -  
Note 3 – Issued in 2015   $ 21,000       (17,800 )     3,200  
                         
Total           $ (72,578 )   $ 38,756  


 

Beneficial Conversion Feature Liability   Fair Value at Date of Issuance     Changes in Fair Value 
2015
    Fair Value at December 31, 2015  
                   
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