Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 08, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Entity Registrant Name | 'FOREVERGREEN WORLDWIDE CORP | ' |
Entity Central Index Key | '0001091983 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 16,352,141 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $200,075 | $89,253 |
Accounts Receivable | 989,801 | 273,366 |
Prepaid expenses | 182,548 | 47,364 |
Inventory | 695,946 | 532,166 |
Total Current Assets | 2,068,370 | 942,149 |
PROPERTY AND EQUIPMENT, net | 253,840 | 85,139 |
OTHER ASSETS | ' | ' |
Deposits and other assets | 75,792 | 68,393 |
Trademarks, net | 44,903 | 50,193 |
Customer base, net | 278,168 | 342,360 |
Total Other Assets | 398,863 | 460,946 |
TOTAL ASSETS | 2,721,073 | 1,488,234 |
CURRENT LIABILITIES | ' | ' |
Bank overdraft | 91,959 | 49,875 |
Accounts payable | 822,257 | 874,659 |
Accrued expenses | 3,341,309 | 2,507,885 |
Deferred revenue | 207,897 | 113,085 |
Due to related parties | 34,407 | 54,494 |
Banking line of credit | ' | 97,039 |
Current portion of long-term debt | 2,175 | 2,096 |
Notes payable, related parties | 922,478 | 922,478 |
Convertible notes payable, related parties | 245,000 | 245,000 |
Convertible notes payable, unrelated parties net discount ($18,254 and $9,805, respectively) | 858,464 | 1,023,670 |
Total Current Liabilities | 6,525,946 | 5,890,281 |
LONG-TERM DEBT | ' | ' |
Notes payable | 17,920 | 18,001 |
Total Long-Term Debt | 17,920 | 18,001 |
Total Liabilities | 6,543,866 | 5,908,282 |
STOCKHOLDERS' DEFICIT | ' | ' |
Preferred stock; no stated par value; authorized 10,000,000 shares; no shares issued or outstanding | ' | ' |
Common stock, par value $0.001 per share; authorized 100,000,000 shares;16,352,141 and 15,212,141 shares respectively issued and outstanding | 16,352 | 15,212 |
Additional paid-in capital | 31,445,090 | 30,973,230 |
Other comprehensive income (loss) | -30,632 | -44,796 |
Accumulated deficit | -35,253,603 | -35,363,694 |
Total Stockholders' Deficit | -3,822,793 | -4,420,048 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $2,721,073 | $1,488,234 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Condensed Consolidated Balance Sheets [Abstract] | ' | ' |
Debt discount | $18,254 | $9,805 |
Preferred stock, no stated par value per share | $0 | $0 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 16,352,141 | 15,212,141 |
Common stock, shares outstanding | 16,352,141 | 15,212,141 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statement of Operations and Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Condensed Consolidated Statement of Operations and Comprehensive Loss [Abstract] | ' | ' | ' | ' |
REVENUES, net | $4,793,782 | $3,060,736 | $11,495,871 | $9,781,990 |
COST OF SALES, net | 3,266,623 | 2,086,174 | 7,822,105 | 6,784,215 |
GROSS PROFIT | 1,527,159 | 974,562 | 3,673,766 | 2,997,775 |
OPERATING EXPENSES | ' | ' | ' | ' |
Salaries and wages | 747,595 | 548,280 | 2,069,502 | 1,651,207 |
Professional fees | 187,729 | 116,224 | 502,943 | 377,203 |
General and administrative | 290,216 | 347,299 | 802,741 | 1,047,130 |
Total Operating Expenses | 1,225,540 | 1,011,803 | 3,375,186 | 3,075,540 |
NET OPERATING INCOME (LOSS) | 301,619 | -37,241 | 298,580 | -77,765 |
OTHER EXPENSE | ' | ' | ' | ' |
Gain on conversion of convertible notes payable | 226,230 | ' | 226,230 | ' |
Interest expense | -195,656 | -70,344 | -405,030 | -195,537 |
Other Income (Expense) | -5,264 | ' | -9,690 | 54 |
Total Other Expense | 25,310 | -70,344 | -188,490 | -195,483 |
Loss from continuing operations before income tax provision | 326,929 | -107,585 | 110,090 | -273,248 |
Income Tax Benefit | ' | ' | ' | ' |
NET INCOME (LOSS) | 326,929 | -107,585 | 110,090 | -273,248 |
BASIC AND DILUTED LOSS PER COMMON SHARE | $0.02 | ($0.01) | $0.01 | ($0.02) |
BASIC WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 15,549,967 | 14,892,141 | 15,325,987 | 14,892,141 |
DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 16,729,794 | 14,892,141 | 16,504,514 | 14,892,141 |
COMPREHENSIVE INCOME (LOSS) A Summary of the components of other comprehensive income (loss) for the periods ended September 30, 2013 and 2012 are as follows: | ' | ' | ' | ' |
Net loss | 326,929 | -107,585 | 110,090 | -273,248 |
Other Comprehensive Income (Loss) | 29,888 | -31,984 | 14,164 | 20,487 |
Comprehensive Income (Loss) | $356,817 | ($139,569) | $124,254 | ($252,761) |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net Loss | $110,090 | ($273,248) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 107,713 | 131,570 |
Debt discount amortization | 56,551 | ' |
Expenses paid on behalf of the company | 13,240 | ' |
Gain on conversion of debt | -226,230 | ' |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -717,119 | -44,767 |
Prepaid expenses | -79,872 | -10,384 |
Inventory | -164,216 | 274,887 |
Deposits | -7,431 | -138 |
Accounts payable-related parties | -21,636 | ' |
Accounts payable | -43,215 | -305,938 |
Accrued expenses | 921,953 | 216,691 |
Deferred revenue | 94,812 | ' |
Net Cash Provided by (Used in) Operating Activities | 44,640 | -11,327 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Purchase of intangibles | -1,114 | 2,121 |
Purchases of property and equipment | -207,410 | ' |
Net Cash Provided by (Used in) Investing Activities | -208,524 | 2,121 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Bank overdraft | 42,085 | -11,647 |
Net proceeds (payments) from revolving bank line of credit | -97,039 | -46,918 |
Payments on notes payable | ' | -2,245 |
Payments on notes payable - related parties | ' | -145,113 |
Proceeds from notes payable - related parties | ' | 100,000 |
Proceeds from sale of common stock | 300,000 | ' |
Proceeds from convertible note payable | 111,760 | ' |
Net Cash Provided by (Used in) Financing Activities | 356,806 | -105,923 |
Effect of Foreign Currency on Cash | -82,100 | 16,245 |
NET INCREASE (DECREASE) IN CASH | 110,822 | -98,884 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 89,253 | 223,099 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 200,075 | 124,215 |
SUPPLEMENTAL CASH FLOW INFORMATION | ' | ' |
Cash paid for interest | 8,716 | 5,072 |
Cash paid for income taxes | ' | ' |
SUPPLEMENTAL DISCLOSURES ON NON-CASH INVESTING AND FINANCING ACTIVITIES | ' | ' |
Debt discount on convertible notes | $65,000 | ' |
CONDENSED_CONSOLIDATED_FINANCI
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | 9 Months Ended |
Sep. 30, 2013 | |
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS [Abstract] | ' |
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | ' |
NOTE 1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | |
The accompanying consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the period ended September 30, 2013 and for all periods presented have been made. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2012 audited financial statements as reported in its Form 10-K. The results of operations for the nine month period ended September 30, 2013 are not necessarily indicative of the operating results for the full year ended December 31, 2013. |
GOING_CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2013 | |
GOING CONCERN [Abstract] | ' |
GOING CONCERN | ' |
NOTE 2 - GOING CONCERN | |
The Company's financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern. The Company has an accumulated net loss totaling $35,253,603. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. | |
In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. | |
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2013 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | |
The accompanying consolidated financial statements are prepared on the basis of accounting principles generally accepted in the United States of America. | |
Principles of Consolidation | |
The consolidated balance sheets and statement of operations at September 30, 2013 include the books of ForeverGreen Worldwide Corporation (Nevada) and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in the consolidation. | |
Foreign Currency Translation | |
The Company's functional currency is recorded in various currencies, corresponding to the various foreign subsidiaries and its reporting currency is the United States dollar. Management has adopted ASC 830-20, "Foreign Currency Matters - Foreign Currency Transactions". All assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. For revenues and expenses, the weighted average exchange rate for the period is used. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in other comprehensive loss. | |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Fair Value of Financial Instruments | |
The carrying amounts reported in the balance sheets for accounts receivable, accounts payable and accrued liabilities approximate fair value because of the immediate or short-term nature of these financial instruments. The carrying amounts reported for notes payable approximate fair value because the underlying instruments are at interest rates which approximate current market rates. | |
Basic and Diluted Earnings and Loss Per Share | |
For the current year basic earnings per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. For the prior year the basic loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted loss per share is computed by dividing net loss by the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Our potentially dilutive shares, which include outstanding convertible debentures, have not been included in the computation of diluted net loss per share for 2012, as the results would be anti-dilutive. For 2013 these dilutive potential shares were included in the computation of diluted earnings per share. Accordingly there were 1,178,832 such potentially dilutive shares included as of September 30, 2013 and 6,353,275 such potentially dilutive shares excluded in 2012. | |
Revenue Recognition | |
Revenues and costs of revenues are recognized during the period in which the products are provided. The Company applies the provisions of FASB Accounting Standards Codification ("ASC") 605-10, Revenue Recognition in Financial Statements ASC 605-10, which provides guidance on the recognition, presentation, and disclosure of revenue in financial statements filed with the SEC. ASC 605-10 outlines the basic criteria that must be met to recognize revenue and provides guidance for disclosure related to revenue recognition policies. In general, the Company recognizes revenue for sale of products when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed or determinable, and (iv) collectability is reasonably assured. | |
The Company's source of revenue is from the sale of various food and other natural products. The Company recognizes the sale upon shipment of such goods. The Company offers a 100% satisfaction guarantee against defects for 30 days after the sale of their product except for a few circumstances. The Company extends this return policy to its distributors for a 30 day period and the consumer has the same return policy in effect against the distributor. All conditions of ASC 605-10 are met and the revenue is recorded upon sale, with an estimated allowance for returns where material. | |
Inventory | |
Inventory is recorded at the lower of cost or market and valued on a first-in, first-out basis. Inventory consists primarily of consumable food products and ingredients. Food products are discarded as they reach the expiration dates, because the food products are made with natural foods containing a minimum of preservatives. Non-food products are reviewed periodically to determine any obsolescence and a reserve is booked when appropriate. The products have expiration dates that range from 3 months on some of the food products to 2 years for non-food products. On September 30, 2013 and December 31, 2012 an allowance for obsolete inventory has been recorded in the amount of $5,660 and $45,660, respectively. | |
Accounts Receivable | |
Accounts receivable arise from doing business with third party distributor centers in various locations throughout South America and Korea. In South America the accounts receivable are made up of fees owed by the distribution centers to the Company for the right to do business in our name. In Korea the accounts receivable are for products sold to a third party. The Company evaluates the need for an allowance for doubtful accounts when it is determined that collection amounts owed is unlikely. No allowance has been recorded at September 30, 2013 and December 31, 2012, accordingly. | |
Distributors are required to pay for products prior to shipment. Distributors typically pay for products in cash, by wire transfer or by credit card. Accordingly, the Company seldom carries accounts receivable from distributors that are not distribution centers and any balances carried would be minimal. | |
Valuation of Long-lived Assets | |
In accordance with ASC 360-10, the carrying values of the Company's long-lived assets are reviewed for impairment annually and whenever events or changes in circumstances indicate that they may not be recoverable. The Company records impairment of long-lived assets to be held and used or to be disposed of when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount. The Company's analysis did not indicate any impairment of assets as of September 30, 2013 and 2012. | |
Intangible Assets | |
Intangible assets consist of patent costs, trademark costs and the customer base. Patent costs are costs incurred to develop and file patent applications. Trademark costs are costs incurred to develop and file trademark applications. If the patents or trademarks are approved, the costs are amortized using the straight-line method over the estimated lives of 7 years for patents and 10 years for trademarks. Unsuccessful patent and trademark application costs are expensed at the time the application is denied. Management assesses the carrying values of intangible assets for impairment when circumstances warrant such a review. In performing this assessment, management considers current market analysis of the technology and future cash flows. | |
The Company recognizes impairment losses when undiscounted cash flows estimated to be generated from intangible assets are less than the net carrying amount of intangible assets. No impairment was recognized accordingly, during the periods ended September 30, 2013 and 2012. | |
New Accounting Pronouncements | |
After evaluating the recent accounting pronouncements through the date of this filing, the Company has concluded that application of these pronouncements will have no material impact on the Company's financial results. |
NOTES_PAYABLE
NOTES PAYABLE | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
NOTES PAYABLE [Abstract] | ' | ||||||||||
NOTES PAYABLE | ' | ||||||||||
NOTE 4 - NOTES PAYABLE | |||||||||||
Long-term notes payable | |||||||||||
Long term liabilities are detailed in the following schedules as of September 30, 2013 and December 2012: | |||||||||||
Sept. 30, 2013 | Dec. 31, 2012 | ||||||||||
Note payable to financial institution bearing interest at 7%, principle and interest due monthly, matures August, 2019, secured by equipment | $ | 20,095 | $ | 20,097 | |||||||
Less current portion of notes payable | -2,175 | (2,096) | |||||||||
Net Long-Term Liabilities | $ | 17,920 | $ | 18,001 | |||||||
Current notes payable | |||||||||||
AMOUNT | TYPE | CONVERSION RATE PER SHARE | ORIGINATION DATE | INTEREST | DUE DATE | ||||||
RATE | |||||||||||
$485,000 | Related party | NA | 12/9/08 | 10% | 12/31/15 | ||||||
$437,478 | Related party | NA | 7/31/09 | 10% | 12/31/2015 | ||||||
$45,000 | Convertible, | 0.15 | 10/7/10 | 10% | 12/31/15 | ||||||
Related party | |||||||||||
$200,000 | Convertible, | 0.2 | 1/19/11 | 10% | 12/31/15 | ||||||
Related party | |||||||||||
$394,962 | Convertible, | 0.2 | 1/19/11 | 10% | 12/31/15 | ||||||
Non-related | |||||||||||
$100,000 | Convertible, | 0.2 | 3/14/11 | 10% | 12/31/2015 | ||||||
Non-related | |||||||||||
$231,756 | Convertible, | 0.2 | 3/9/10 | 15% | 12/31/15 | ||||||
Non-related | |||||||||||
$200,000 | Convertible, | 0.08 | 12/28/12 | 10% | 12/31/13 | ||||||
Non-related | see below for details | ||||||||||
On December 28, 2012 the Company entered into a line of credit promissory note agreement for a maximum line of $200,000. The note included an interest rate of 10% and a stock conversion price of $.08. Below are the details of the draws against that line of credit. | |||||||||||
On December 28, 2012 the Company entered into a promissory note agreement of $25,000, under the terms of the $200,000 line of credit to fund its operations. The Company recognized a beneficial conversion feature discount of $12,500 of which $12,305 and $195 have been recognized as interest expense during the periods ending September 30, 2013 and December 31, 2012, respectively. | |||||||||||
On January 11, 2013, the Company entered into a convertible promissory note agreement of $25,000, under the terms of the $200,000 line of credit to fund its operations. The Company recognized a beneficial conversion feature discount of $12,500 of which $12,500 has been recognized as interest expense during the period ending September 30, 2013. | |||||||||||
On February 19, 2013, the Company entered into a convertible promissory note agreement of $28,740, under the terms of the $200,000 line of credit in exchange for expenses of $3,740 paid on behalf of the Company and cash of $25,000. The Company recognized a beneficial conversion feature discount of $12,500 of which $12,500 has been recognized as interest expense during the period ending September 30, 2013. | |||||||||||
On April 18, 2013, the Company entered into a convertible promissory note agreement of $21,205, under the terms of the $200,000 line of credit in exchange for expenses of $9,445 paid on behalf of the Company and cash of $11,760. The Company recognized a beneficial conversion feature discount of $12,500 of which $12,500 has been recognized as interest expense during the period ending September 30, 2013. | |||||||||||
On August 27, 2013 the Company entered into a convertible promissory note agreement of $50,000 under the terms of the $200,000 line of credit in exchange for cash of $50,000. The Company recognized a beneficial conversion feature discount of $25,000 of which $6,746 has been recognized as interest expense during the period ending September 30, 2013. | |||||||||||
On May 26, 2011, the Company entered into a convertible promissory note for $281,758 with a conversion price of $.20 per share. On September 9, 2013 the creditor converted the principle note of $281,758 and accrued interest of $52,472 totaling $334,230 for 540,000 shares of common stock at a share price of $.62 per share. Because the note holder agreed to the increased conversion price, the Company realized a gain of $226,230 on the conversion. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2013 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 5 - COMMITMENTS AND CONTINGENCIES | |
On June 13, 2012, Environmental Research Center, a non-profit corporation, filed a complaint in the Superior Court of California, County of Orange, against ForeverGreen Worldwide Corporation and ForeverGreen International, LLC. ForeverGreen Worldwide received service of the complaint on July 29, 2012. The complaint alleges that the Company failed to provide health hazard warnings related to lead to consumers of its products in California. | |
Environmental Research Center is seeking injunctive relief, an order compelling the Company to provide the health hazard warnings to past consumers and unspecified civil penalties. The Complaint contains two alleged causes of action. Both allege violations of Health and Safety Code §25249.5 and seek injunctive relief as well as damages of $2,500 per day for each violation alleged. The Company has engaged legal counsel to vigorously defend against these allegations. The parties have reached a tentative settlement. A settlement conference is scheduled for November 2013, at which time the Judge will either accept or reject the settlement offer. |
INVENTORY
INVENTORY | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
INVENTORY [Abstract] | ' | ||||
INVENTORY | ' | ||||
NOTE 6 - INVENTORY | |||||
Inventories for September 30, 2013 and December 2012 were classified as follows: | |||||
September 30, | December 31, | ||||
2013 | 2012 | ||||
Raw Materials | $ | 212,969 | $ | 100,788 | |
Finished Goods | 488,637 | 477,038 | |||
Total Inventory | 701,606 | 577,826 | |||
Less Reserve for Obsolete Inventory | -5,660 | -45,660 | |||
Total Inventory (net of reserve) | $ | 695,946 | $ | 532,166 |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2013 | |
RELATED PARTY TRANSACTIONS [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 7 - RELATED PARTY TRANSACTIONS | |
Company officers have paid for expenses on behalf of the Company from time to time, which amounts are non-interest bearing and are due on demand. These amounts are recorded as due to related parties amounting to $34,407 and $54,494 at September 30, 2013 and December 31, 2012, respectively. |
FIXED_ASSETS
FIXED ASSETS | 9 Months Ended |
Sep. 30, 2013 | |
FIXED ASSETS [Abstract] | ' |
FIXED ASSETS | ' |
NOTE 8 - FIXED ASSETS | |
On August 1, 2013 the Company began the Application Development Stage of a new POS software system. Through the third quarter of 2013 the Company has capitalized $184,867 of the software project. |
ISSUANCE_OF_COMMON_STOCK
ISSUANCE OF COMMON STOCK | 9 Months Ended |
Sep. 30, 2013 | |
ISSUANCE OF COMMON STOCK [Abstract] | ' |
ISSUANCE OF COMMON STOCK | ' |
NOTE 9 - ISSUANCE OF COMMON STOCK | |
On August 30, 2013 the Company agreed to issue 600,000 shares of common stock at .50 per share in exchange for $300,000 cash with an unrelated third party. | |
On May 26, 2011, the Company entered into a convertible promissory note for $281,758 with a conversion price of $.20 per share. On September 9, 2013 the creditor converted the principle note of $281,758 and accrued interest of $52,472 totaling $334,230 for 540,000 shares of common stock at a share price of $.62 per share. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
SUBSEQUENT EVENTS [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 10 - SUBSEQUENT EVENTS | |
On October 4, 2013 the Company entered into a convertible promissory note agreement of $50,000, under the terms of the $200,000 line of credit in exchange for expenses of $6,189 paid on behalf of the Company and cash of $43,811. The Company will record a beneficial conversion feature discount of $25,000, which will be amortized over the life of the note. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy) | 9 Months Ended |
Sep. 30, 2013 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying consolidated financial statements are prepared on the basis of accounting principles generally accepted in the United States of America. | |
Principles of Consolidation | ' |
Principles of Consolidation | |
The consolidated balance sheets and statement of operations at September 30, 2013 include the books of ForeverGreen Worldwide Corporation (Nevada) and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in the consolidation. | |
Foreign Currency Translation | ' |
Foreign Currency Translation | |
The Company's functional currency is recorded in various currencies, corresponding to the various foreign subsidiaries and its reporting currency is the United States dollar. Management has adopted ASC 830-20, "Foreign Currency Matters - Foreign Currency Transactions". All assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. For revenues and expenses, the weighted average exchange rate for the period is used. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in other comprehensive loss. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The carrying amounts reported in the balance sheets for accounts receivable, accounts payable and accrued liabilities approximate fair value because of the immediate or short-term nature of these financial instruments. The carrying amounts reported for notes payable approximate fair value because the underlying instruments are at interest rates which approximate current market rates. | |
Basic and Diluted Loss Per Share | ' |
Basic and Diluted Earnings and Loss Per Share | |
For the current year basic earnings per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. For the prior year the basic loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted loss per share is computed by dividing net loss by the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Our potentially dilutive shares, which include outstanding convertible debentures, have not been included in the computation of diluted net loss per share for 2012, as the results would be anti-dilutive. For 2013 these dilutive potential shares were included in the computation of diluted earnings per share. Accordingly there were 1,178,832 such potentially dilutive shares included as of September 30, 2013 and 6,353,275 such potentially dilutive shares excluded in 2012. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenues and costs of revenues are recognized during the period in which the products are provided. The Company applies the provisions of FASB Accounting Standards Codification ("ASC") 605-10, Revenue Recognition in Financial Statements ASC 605-10, which provides guidance on the recognition, presentation, and disclosure of revenue in financial statements filed with the SEC. ASC 605-10 outlines the basic criteria that must be met to recognize revenue and provides guidance for disclosure related to revenue recognition policies. In general, the Company recognizes revenue for sale of products when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed or determinable, and (iv) collectability is reasonably assured. | |
The Company's source of revenue is from the sale of various food and other natural products. The Company recognizes the sale upon shipment of such goods. The Company offers a 100% satisfaction guarantee against defects for 30 days after the sale of their product except for a few circumstances. The Company extends this return policy to its distributors for a 30 day period and the consumer has the same return policy in effect against the distributor. All conditions of ASC 605-10 are met and the revenue is recorded upon sale, with an estimated allowance for returns where material. | |
Inventory | ' |
Inventory | |
Inventory is recorded at the lower of cost or market and valued on a first-in, first-out basis. Inventory consists primarily of consumable food products and ingredients. Food products are discarded as they reach the expiration dates, because the food products are made with natural foods containing a minimum of preservatives. Non-food products are reviewed periodically to determine any obsolescence and a reserve is booked when appropriate. The products have expiration dates that range from 3 months on some of the food products to 2 years for non-food products. On September 30, 2013 and December 31, 2012 an allowance for obsolete inventory has been recorded in the amount of $5,660 and $45,660, respectively. | |
Accounts Receivable | ' |
Accounts Receivable | |
Accounts receivable arise from doing business with third party distributor centers in various locations throughout South America and Korea. In South America the accounts receivable are made up of fees owed by the distribution centers to the Company for the right to do business in our name. In Korea the accounts receivable are for products sold to a third party. The Company evaluates the need for an allowance for doubtful accounts when it is determined that collection amounts owed is unlikely. No allowance has been recorded at September 30, 2013 and December 31, 2012, accordingly. | |
Distributors are required to pay for products prior to shipment. Distributors typically pay for products in cash, by wire transfer or by credit card. Accordingly, the Company seldom carries accounts receivable from distributors that are not distribution centers and any balances carried would be minimal. | |
Valuation of Long-lived Assets | ' |
Valuation of Long-lived Assets | |
In accordance with ASC 360-10, the carrying values of the Company's long-lived assets are reviewed for impairment annually and whenever events or changes in circumstances indicate that they may not be recoverable. The Company records impairment of long-lived assets to be held and used or to be disposed of when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount. The Company's analysis did not indicate any impairment of assets as of September 30, 2013 and 2012. | |
Intangible Assets | ' |
Intangible Assets | |
Intangible assets consist of patent costs, trademark costs and the customer base. Patent costs are costs incurred to develop and file patent applications. Trademark costs are costs incurred to develop and file trademark applications. If the patents or trademarks are approved, the costs are amortized using the straight-line method over the estimated lives of 7 years for patents and 10 years for trademarks. Unsuccessful patent and trademark application costs are expensed at the time the application is denied. Management assesses the carrying values of intangible assets for impairment when circumstances warrant such a review. In performing this assessment, management considers current market analysis of the technology and future cash flows. | |
The Company recognizes impairment losses when undiscounted cash flows estimated to be generated from intangible assets are less than the net carrying amount of intangible assets. No impairment was recognized accordingly, during the periods ended September 30, 2013 and 2012. | |
New Accounting Pronouncements | ' |
New Accounting Pronouncements | |
After evaluating the recent accounting pronouncements through the date of this filing, the Company has concluded that application of these pronouncements will have no material impact on the Company's financial results. |
NOTES_PAYABLE_Tables
NOTES PAYABLE (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
NOTES PAYABLE [Abstract] | ' | ||||||||||
Schedule of Long Term Liabilities | ' | ||||||||||
Long-term notes payable | |||||||||||
Long term liabilities are detailed in the following schedules as of September 30, 2013 and December 2012: | |||||||||||
Sept. 30, 2013 | Dec. 31, 2012 | ||||||||||
Note payable to financial institution bearing interest at 7%, principle and interest due monthly, matures August, 2019, secured by equipment | $ | 20,095 | $ | 20,097 | |||||||
Less current portion of notes payable | -2,175 | (2,096) | |||||||||
Net Long-Term Liabilities | $ | 17,920 | $ | 18,001 | |||||||
Schedule of Current Notes Payable | ' | ||||||||||
Current notes payable | |||||||||||
AMOUNT | TYPE | CONVERSION RATE PER SHARE | ORIGINATION DATE | INTEREST | DUE DATE | ||||||
RATE | |||||||||||
$485,000 | Related party | NA | 12/9/08 | 10% | 12/31/15 | ||||||
$437,478 | Related party | NA | 7/31/09 | 10% | 12/31/2015 | ||||||
$45,000 | Convertible, | 0.15 | 10/7/10 | 10% | 12/31/15 | ||||||
Related party | |||||||||||
$200,000 | Convertible, | 0.2 | 1/19/11 | 10% | 12/31/15 | ||||||
Related party | |||||||||||
$394,962 | Convertible, | 0.2 | 1/19/11 | 10% | 12/31/15 | ||||||
Non-related | |||||||||||
$100,000 | Convertible, | 0.2 | 3/14/11 | 10% | 12/31/2015 | ||||||
Non-related | |||||||||||
$231,756 | Convertible, | 0.2 | 3/9/10 | 15% | 12/31/15 | ||||||
Non-related | |||||||||||
$200,000 | Convertible, | 0.08 | 12/28/12 | 10% | 12/31/13 | ||||||
Non-related | see below for details |
INVENTORY_Tables
INVENTORY (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
INVENTORY [Abstract] | ' | ||||
Schedule of Inventories | ' | ||||
Inventories for September 30, 2013 and December 2012 were classified as follows: | |||||
September 30, | December 31, | ||||
2013 | 2012 | ||||
Raw Materials | $ | 212,969 | $ | 100,788 | |
Finished Goods | 488,637 | 477,038 | |||
Total Inventory | 701,606 | 577,826 | |||
Less Reserve for Obsolete Inventory | -5,660 | -45,660 | |||
Total Inventory (net of reserve) | $ | 695,946 | $ | 532,166 |
GOING_CONCERN_Details
GOING CONCERN (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
GOING CONCERN [Abstract] | ' | ' |
Accumulated deficit | ($35,253,603) | ($35,363,694) |
SUMMARY_OF_SIGNIFICANT_ACCOUNT2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Basic and Diluted Loss Per Share | ' | ' | ' |
Potentially dilutive shares excluded from computation of diluted net loss per share | 1,178,832 | 6,353,275 | ' |
Inventory | ' | ' | ' |
Allowance for obsolete inventory | $5,660 | ' | $45,660 |
Patents [Member] | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' |
Amortization Period (Estimated Lives) | '7 years | ' | ' |
Trademarks [Member] | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' |
Amortization Period (Estimated Lives) | '10 years | ' | ' |
NOTES_PAYABLE_Schedule_of_Long
NOTES PAYABLE (Schedule of Long-term Liabilities) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
NOTES PAYABLE [Abstract] | ' | ' |
Note payable to financial institution bearing interest at 7%, principle and interest due monthly, matures August, 2019, secured by equipment | $20,095 | $20,097 |
Less current portion of Notes payable | -2,175 | -2,096 |
Net Long-Term Liabilities | $17,920 | $18,001 |
Interest rate | 7.00% | 7.00% |
Maturity date | 31-Aug-19 | 31-Aug-19 |
NOTES_PAYABLE_Schedule_of_Note
NOTES PAYABLE (Schedule of Notes Payable) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 28, 2012 | Jan. 31, 2013 | Sep. 30, 2013 | Jan. 11, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Feb. 19, 2013 | Apr. 30, 2013 | Sep. 30, 2013 | Apr. 18, 2013 | Aug. 31, 2013 | Sep. 30, 2013 | Aug. 27, 2013 | Sep. 30, 2013 | Sep. 09, 2013 | 26-May-11 | Oct. 04, 2013 | Aug. 27, 2013 | Apr. 18, 2013 | Feb. 19, 2013 | Jan. 11, 2013 | Dec. 28, 2012 | |
Debt Instrument One [Member] | Debt Instrument Two [Member] | Debt Instrument Three [Member] | Debt Instrument Four [Member] | Debt Instrument Five [Member] | Debt Instrument Six [Member] | Debt Instrument Seven [Member] | Debt Instrument Eight [Member] | Promissory Note Agreement [Member] | Promissory Note Agreement [Member] | Promissory Note Agreement [Member] | Promissory Note Agreement [Member] | Convertible Promissory Note Agreement, January 11, 2013 [Member] | Convertible Promissory Note Agreement, January 11, 2013 [Member] | Convertible Promissory Note Agreement, January 11, 2013 [Member] | Convertible Promissory Note Agreement, February 19, 2013 [Member] | Convertible Promissory Note Agreement, February 19, 2013 [Member] | Convertible Promissory Note Agreement, February 19, 2013 [Member] | Convertible Promissory Note Agreement, April 18, 2013 [Member] | Convertible Promissory Note Agreement, April 18, 2013 [Member] | Convertible Promissory Note Agreement, April 18, 2013 [Member] | Convertible Promissory Note Agreement, August 27, 2013 [Member] | Convertible Promissory Note Agreement, August 27, 2013 [Member] | Convertible Promissory Note Agreement, August 27, 2013 [Member] | Convertible Promissory Note [Member] | Convertible Promissory Note [Member] | Convertible Promissory Note [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible notes payable, related parties | $245,000 | ' | $245,000 | ' | $245,000 | ' | ' | $45,000 | $200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable, related parties | 922,478 | ' | 922,478 | ' | 922,478 | 485,000 | 437,478 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible notes payable, unrelated parties | 858,464 | ' | 858,464 | ' | 1,023,670 | ' | ' | ' | ' | 394,962 | 100,000 | 231,756 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion, price per share | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.20 | $0.20 | $0.20 | $0.20 | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | ' | ' | ' | $0.08 |
Origination date | ' | ' | ' | ' | ' | 9-Dec-08 | 31-Jul-09 | 7-Oct-10 | 19-Jan-11 | 19-Jan-11 | 14-Mar-11 | 9-Mar-10 | 28-Dec-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | 7.00% | ' | 7.00% | ' | 7.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 15.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% |
Maturity date | ' | ' | 31-Aug-19 | ' | 31-Aug-19 | 31-Dec-15 | 31-Dec-15 | 31-Dec-15 | 31-Dec-15 | 31-Dec-15 | 31-Dec-15 | 31-Dec-15 | 31-Dec-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, maximum borrowing amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 |
Debt instrument, convertible, beneficial conversion feature | ' | ' | 65,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,500 | ' | ' | ' | 12,500 | ' | ' | 12,500 | ' | ' | 12,500 | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,305 | 195 | ' | ' | 12,500 | ' | ' | 12,500 | ' | ' | 12,500 | ' | ' | 6,746 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | 25,000 | ' | ' | 28,740 | ' | ' | 21,205 | ' | ' | 50,000 | ' | 281,758 | 281,758 | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,472 | ' | ' | ' | ' | ' | ' | ' |
Amount converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 334,230 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued in conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 540,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued, price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.62 | ' | ' | ' | ' | ' | ' | ' |
Gain on conversion of convertible notes payable | 226,230 | ' | 226,230 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 226,230 | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses paid on behalf of the company | ' | ' | 13,240 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,740 | ' | ' | 9,445 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from convertible note payable | ' | ' | $111,760 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,000 | ' | ' | $11,760 | ' | ' | $50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 1 Months Ended |
Jul. 31, 2012 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' |
Damages being sought in litigation matter | $2,500 |
INVENTORY_Details
INVENTORY (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
INVENTORY [Abstract] | ' | ' |
Raw Materials | $212,969 | $100,788 |
Finished Goods | 488,637 | 477,038 |
Total Inventory | 701,606 | 577,826 |
Less Reserve for Obsolete Inventory | -5,660 | -45,660 |
Total Inventory (net of reserve) | $695,946 | $532,166 |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
RELATED PARTY TRANSACTIONS [Abstract] | ' | ' |
Due to related parties | $34,407 | $54,494 |
FIXED_ASSETS_Details
FIXED ASSETS (Details) (USD $) | 2 Months Ended |
Sep. 30, 2013 | |
FIXED ASSETS [Abstract] | ' |
Amount of software project capitalized | $184,867 |
ISSUANCE_OF_COMMON_STOCK_Detai
ISSUANCE OF COMMON STOCK (Details) (USD $) | Aug. 30, 2013 | Sep. 30, 2013 | Sep. 09, 2013 | 26-May-11 |
Convertible Promissory Note [Member] | Convertible Promissory Note [Member] | Convertible Promissory Note [Member] | ||
ISSUANCE OF COMMON STOCK [Abstract] | ' | ' | ' | ' |
Shares to be issued, shares | 600,000 | ' | ' | ' |
Shares to be issued, price per share | $0.50 | ' | ' | ' |
Shares to be issued, value | $300,000 | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Original amount | ' | ' | 281,758 | 281,758 |
Debt conversion, price per share | ' | ' | ' | $0.20 |
Accrued interest | ' | ' | 52,472 | ' |
Amount converted | ' | $334,230 | ' | ' |
Shares issued in conversion | ' | 540,000 | ' | ' |
Shares issued, price per share | ' | ' | $0.62 | ' |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | 9 Months Ended | 1 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2013 | Oct. 04, 2013 | Oct. 04, 2013 | Aug. 27, 2013 | Apr. 18, 2013 | Feb. 19, 2013 | Jan. 11, 2013 | Dec. 28, 2012 | |
Convertible Promissory Note Agreement, October 4, 2013 [Member] | Convertible Promissory Note Agreement, October 4, 2013 [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original amount | ' | ' | ' | $50,000 | ' | ' | ' | ' | ' | ' |
Line of credit, maximum borrowing amount | ' | ' | ' | ' | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 |
Expenses paid on behalf of the company | 13,240 | ' | 6,189 | ' | ' | ' | ' | ' | ' | ' |
Proceeds from convertible note payable | 111,760 | ' | 43,811 | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, convertible, beneficial conversion feature | $65,000 | ' | $25,000 | ' | ' | ' | ' | ' | ' | ' |