Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document and Entity Information: | ' |
Entity Registrant Name | 'FULLNET COMMUNICATIONS INC |
Document Type | '10-Q |
Document Period End Date | 30-Sep-14 |
Amendment Flag | 'false |
Entity Central Index Key | '0001092570 |
Current Fiscal Year End Date | '--12-31 |
Entity Common Stock, Shares Outstanding | 9,118,161 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'No |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q3 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
ASSETS | ' | ' | ||
Cash | $7,214 | $30,072 | ||
Accounts receivable, net | 9,532 | 17,540 | ||
Prepaid expenses and other current assets | 12,751 | 8,728 | ||
Total current assets | 29,497 | 56,340 | ||
PROPERTY AND EQUIPMENT, net | 115,551 | 44,635 | ||
OTHER ASSETS AND INTANGIBLE ASSETS | 6,516 | 10,948 | ||
TOTAL ASSETS | 151,564 | 111,923 | ||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | ' | ||
Accounts payable | 193,723 | 127,077 | ||
Accrued and other liabilities | 482,033 | 410,763 | ||
Convertible notes payable, related party - current portion | 46,811 | 45,060 | ||
Deferred revenue | 347,696 | 302,129 | ||
Total current liabilities | 1,070,263 | 885,029 | ||
CONVERTIBLE NOTES PAYABLE, related party - less current portion | 206,998 | 230,129 | ||
Total liabilities | 1,227,261 | 1,115,158 | ||
STOCKHOLDERS' DEFICIT | ' | ' | ||
Preferred stock | 475,775 | [1] | 430,382 | [1] |
Common stock | 91 | [2] | 91 | [2] |
Additional paid-in capital | 8,688,318 | 8,716,803 | ||
Accumulated deficit | -10,289,881 | -10,150,511 | ||
Total stockholders' deficit | -1,125,697 | -1,003,235 | ||
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT | $151,564 | $111,923 | ||
[1] | $.001 par value; authorized, 10,000,000 shares; Series A convertible issued and outstanding, 987,102 shares | |||
[2] | $.00001 par value; authorized, 40,000,000 shares; issued and outstanding, 9,118,161 shares |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Statement of Financial Position Parenthetical | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock Series A convertible, shares outstanding | 987,102 | 987,102 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares outstanding | 9,118,161 | 9,118,161 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Statement | ' | ' | ' | ' |
Access service revenues | $22,705 | $29,640 | $65,773 | $95,936 |
Co-location and other revenues | 393,357 | 391,881 | 1,231,799 | 1,128,891 |
Total revenues | 416,062 | 421,521 | 1,297,572 | 1,224,827 |
Cost of access service revenues | 24,563 | 27,817 | 76,180 | 83,825 |
Cost of co-location and other revenues | 87,458 | 90,816 | 259,953 | 267,693 |
Selling, general and administrative expenses | 357,411 | 343,556 | 1,059,405 | 1,013,649 |
Depreciation and amortization | 10,597 | 6,969 | 29,427 | 22,372 |
Total operating costs and expenses | 480,029 | 469,158 | 1,424,965 | 1,387,539 |
LOSS FROM OPERATIONS | -63,967 | -47,637 | -127,393 | -162,712 |
GAIN ON SERIES A CONVERTIBLE PREFERRED STOCK ISSUED IN EXCHANGE FOR INDEBTEDNESS | 0 | 0 | 0 | 401,004 |
INTEREST EXPENSE | -3,886 | -4,289 | -11,977 | -15,396 |
NET INCOME (LOSS) | -67,853 | -51,926 | -139,370 | 222,896 |
Preferred stock dividends | -15,131 | -29,002 | -45,393 | -37,607 |
Net income (loss) available to common stockholders | ($82,984) | ($80,928) | ($184,763) | $185,289 |
Net income (loss) per share - basic | ($0.01) | ($0.01) | ($0.02) | $0.02 |
Net income (loss) per share - assuming dilution | ($0.01) | ($0.01) | ($0.02) | $0.02 |
Weighted average shares outstanding - basic | 9,118,161 | 9,118,161 | 9,118,161 | 9,118,161 |
Weighted average shares outstanding - assuming dilution | 9,118,161 | 9,118,161 | 9,118,161 | 11,610,390 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $) | Common Stock | Preferred Stock | Additional Paid In Capital | Accumulated Deficit | Total |
Stockholders' deficit at Dec. 31, 2013 | $91 | $430,382 | $8,716,803 | ($10,150,511) | ($1,003,235) |
Shares outstanding at Dec. 31, 2013 | 9,118,161 | 987,102 | ' | ' | 10,105,263 |
Stock options compensation | ' | ' | 16,908 | ' | 16,908 |
Amortization of increasing dividend rate preferred stock discount | ' | 45,393 | -45,393 | ' | 45,393 |
Net income (loss) | ' | ' | ' | -139,370 | -139,370 |
Stockholders' deficit at Sep. 30, 2014 | $91 | $475,775 | $8,688,318 | ($10,289,881) | ($1,125,697) |
Shares outstanding at Sep. 30, 2014 | 9,118,161 | 987,102 | ' | ' | 10,105,263 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Cash Flow Statement | ' | ' |
Net income (loss) | ($139,370) | $222,896 |
Depreciation and amortization | 29,427 | 22,372 |
Stock options compensation | 16,908 | 45,880 |
Stock warrants issued for services | 0 | 6,182 |
Provision for uncollectible accounts receivable | -11,002 | 15,453 |
(Gain) on Series A convertible preferred stock issued in exchange for indebtedness | 0 | -401,004 |
Net (increase) decrease in Accounts receivable | 19,010 | -14,870 |
Net (increase) decrease in Prepaid expenses and other current assets | -4,023 | -5,526 |
Net increase (decrease) in Accounts payable | 30,114 | 25,081 |
Net increase (decrease) in Accrued and other liabilities | 71,270 | 82,122 |
Net increase (decrease) in Deferred revenue | 45,567 | 32,417 |
Net cash provided by operating activities | 57,901 | 31,003 |
Purchases of property and equipment | -59,379 | -5,634 |
Net cash used in investing activities | -59,379 | -5,634 |
Principal payments on borrowings under notes payable - related party | -21,380 | -17,558 |
Net cash used in financing activities | -21,380 | -17,558 |
Net increase (decrease) in cash | -22,858 | 7,811 |
Cash at beginning of period | 30,072 | 10,847 |
Cash at end of period | 7,214 | 18,658 |
Cash paid for interest | 11,977 | 14,005 |
Property and equipment purchased on accounts | 36,532 | ' |
Amortization of increasing dividend rate preferred stock discount | 45,393 | 37,607 |
Series A convertible preferred stock issued for settlement of debt and accrued interest | ' | 59,637 |
Series A convertible preferree stock issued for settlement of accounts payable | ' | 317,961 |
Series A convertible preferred stock issued for settlement of deferred compensation | ' | 656,133 |
Increasing dividend rate preferred stock discount | ' | -309,337 |
Reclassification of accounts payable to convertible debt - related party | ' | $50,000 |
Unaudited_Interim_Financial_St
Unaudited Interim Financial Statements | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Notes | ' | |||
Unaudited Interim Financial Statements | ' | |||
1 | UNAUDITED INTERIM FINANCIAL STATEMENTS | |||
The unaudited condensed consolidated financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto for the year ended December 31, 2013. | ||||
The information furnished reflects, in the opinion of management, all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the results of the interim periods presented. Operating results of the interim period are not necessarily indicative of the amounts that will be reported for the year ending December 31, 2014. Certain reclassifications have been made to prior period balances to conform with the presentation for the current period. |
Going_Concern_And_Managements_
Going Concern And Management's Plans | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
Going Concern And Management's Plans | ' | ||
2 | GOING CONCERN AND MANAGEMENT’S PLANS | ||
At September 30, 2014, current liabilities exceed current assets by $1,040,766. The Company does not have a line of credit or credit facility to serve as an additional source of liquidity. Historically the Company has relied on shareholder loans as an additional source of funds. These factors raise substantial doubts about the Company’s ability to continue as a going concern. | |||
The ability of the Company to continue as a going concern is dependent upon continued operations of the Company that in turn is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, to maintain present financing, to achieve the objectives of its business plan and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. | |||
The Company’s business plan includes, among other things, expansion through mergers and acquisitions and the development of its co-location and advanced voice and data solutions. Execution of the Company’s business plan will require significant capital to fund capital expenditures, working capital needs and debt service. Current cash balances will not be sufficient to fund the Company’s current business plan beyond the next few months. As a consequence, the Company is currently focusing on revenue enhancement and cost cutting opportunities as well as working to sell non-core assets and to extend vendor payment terms. The Company continues to seek additional convertible debt or equity financing as well as the placement of a credit facility to fund the Company’s liquidity. There can be no assurance that the Company will be able to obtain additional capital on satisfactory terms, or at all, or on terms that will not dilute the shareholders’ interests. |
Convertible_Notes_Payable_Rela
Convertible Notes Payable Related Party | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
Convertible Notes Payable Related Party | ' | ||
3 | CONVERTIBLE NOTES PAYABLE RELATED PARTY | ||
At December 31, 2013 the Company had a secured convertible promissory note from a shareholder with a balance of $225,189. During the nine months ended September 30, 2014, the Company made principal and interest payments totaling $29,706. The secured convertible promissory note had a balance of $205,221 at September 30, 2014. | |||
At December 31, 2013 the Company had a secured convertible promissory from a shareholder with a balance of $50,000. During the nine months ended September 30, 2014, the Company made principal and interest payments totaling $3,651. The secured convertible promissory note had a balance of $48,588 at September 30, 2014. |
Stock_Based_Compensation
Stock Based Compensation | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Notes | ' | ||||||||||
Stock Based Compensation | ' | ||||||||||
4 | STOCK BASED COMPENSATION | ||||||||||
The following table summarizes the Company’s employee stock option activity for the nine months ended September 30, 2014: | |||||||||||
Options | Weighted average | Weighted average remaining contractual life (yrs) | Aggregate intrinsic value | ||||||||
exercise price | |||||||||||
Options outstanding, December 31, 2013 | 3,202,882 | $ .030 | 9.1 | ||||||||
Options exercisable, December 31, 2013 | 1,755,882 | $0.027 | 8.75 | $ 42,261 | |||||||
Options granted during the period | 7,500 | $ 0.036 | |||||||||
Options expired during the period | (15,000) | $0.050 | |||||||||
Options forfeited during the period | (4,000) | $0.043 | |||||||||
Options outstanding, September 30, 2014 | 3,191,382 | $0.029 | 8.4 | ||||||||
Options exercisable, September 30, 2014 | 1,932,549 | $0.025 | 8.1 | $ 13,488 | |||||||
During the nine months ended September 30, 2014, 7,500 nonqualified employee stock options were granted with exercise prices ranging from $0.026 to $0.050 and 3,000 of those options with an exercise price of $.050 were forfeited. The options were valued using Black-Scholes option pricing model on the respective date of issuance and the fair value of the shares was determined to be $122 of which $10 was recognized as stock-based compensation expense for the nine months ended September 30, 2014. The stock options will vest one-third on each annual anniversary date of the grant and will expire ten years from the date of the grant. During the nine months ended September 30, 2014, 1,000 employee stock options were forfeited that were related to options granted in the prior year. | |||||||||||
Stock-based compensation expense for the three and nine months ended September 30, 2014 was $5,584 and $16,908, respectively. | |||||||||||
Stock-based compensation is measured at the grant date, based on the calculated fair value of the option, and is recognized as an expense on a straight-line basis over the requisite employee service period (generally the vesting period of the grant). | |||||||||||
The Black-Scholes option pricing model was used with the following weighted-average assumptions for options granted during the nine months ended September 30, 2014: | |||||||||||
Risk-free interest rate 1.41% - 1.70% | |||||||||||
Expected option life 5 years | |||||||||||
Expected volatility 225% - 234% | |||||||||||
Expected dividend yield 0% |
Series_A_Convertible_Preferred
Series A Convertible Preferred Stock | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
Series A Convertible Preferred Stock | ' | ||
5 | SERIES A CONVERTIBLE PREFERRED STOCK | ||
On March 31, 2014 the Company’s board of directors made the determination that it was in the best interest of the Company and its stockholders to conserve the Company’s working capital at this time and not make the annual dividend payment for the year ending December 31, 2013. As a result, pursuant to the Certificate of Designations, Preferences, and Rights of the Series A Convertible Preferred Stock, each share of the Series A Convertible Preferred Stock shall hereafter be entitled to two votes upon any matter that the holders of the Company’s common stock are entitled to vote. | |||
The amortization of the increasing dividend rate preferred stock discount for the three and nine months ended September 30, 2014 was $15,131 and $45,393, respectively. The amortization of the increasing dividend rate preferred stock discount for the three and nine months ended September 30, 2013 was $29,002 and $37,607, respectively. |
Property_and_Equipment_Disclos
Property and Equipment Disclosure | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
Property and Equipment Disclosure | ' | ||
6 | PROPERTY AND EQUIPMENT | ||
During the nine months ended September 30, 2014, $59,379 was paid for property and equipment and $36,532 was purchased on accounts. |
Subsequent_Events
Subsequent Events | 9 Months Ended | ||
Sep. 30, 2014 | |||
Notes | ' | ||
Subsequent Events | ' | ||
7 | SUBSEQUENT EVENTS | ||
In October 2014, the Company granted 120,000 employee stock options to one employee with an exercise price of $.026. The stock options shall vest one-third each year starting from October 1, 2015, and shall expire on October 1, 2024. |
Unaudited_Interim_Financial_St1
Unaudited Interim Financial Statements: Basis of Accounting, Policy (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Basis of Accounting, Policy | ' |
The unaudited condensed consolidated financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto for the year ended December 31, 2013. |
Stock_Based_Compensation_Share
Stock Based Compensation: Share-based Compensation, Option and Incentive Plans Policy (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Share-based Compensation, Option and Incentive Plans Policy | ' |
Stock-based compensation is measured at the grant date, based on the calculated fair value of the option, and is recognized as an expense on a straight-line basis over the requisite employee service period (generally the vesting period of the grant). |
Stock_Based_Compensation_Sched
Stock Based Compensation: Schedule of Share-based Compensation, Stock Options, Activity (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Tables/Schedules | ' | ||||||||||
Schedule of Share-based Compensation, Stock Options, Activity | ' | ||||||||||
Options | Weighted average | Weighted average remaining contractual life (yrs) | Aggregate intrinsic value | ||||||||
exercise price | |||||||||||
Options outstanding, December 31, 2013 | 3,202,882 | $ .030 | 9.1 | ||||||||
Options exercisable, December 31, 2013 | 1,755,882 | $0.027 | 8.75 | $ 42,261 | |||||||
Options granted during the period | 7,500 | $ 0.036 | |||||||||
Options expired during the period | (15,000) | $0.050 | |||||||||
Options forfeited during the period | (4,000) | $0.043 | |||||||||
Options outstanding, September 30, 2014 | 3,191,382 | $0.029 | 8.4 | ||||||||
Options exercisable, September 30, 2014 | 1,932,549 | $0.025 | 8.1 | $ 13,488 |
Going_Concern_And_Managements_1
Going Concern And Management's Plans (Details) | 9 Months Ended |
Sep. 30, 2014 | |
Details | ' |
Going Concern Note | 'At September 30, 2014, current liabilities exceed current assets by $1,040,766. The Company does not have a line of credit or credit facility to serve as an additional source of liquidity. Historically the Company has relied on shareholder loans as an additional source of funds. These factors raise substantial doubts about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon continued operations of the Company that in turn is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, to maintain present financing, to achieve the objectives of its business plan and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. The Company’s business plan includes, among other things, expansion through mergers and acquisitions and the development of its co-location and advanced voice and data solutions. Execution of the Company’s business plan will require significant capital to fund capital expenditures, working capital needs and debt service. Current cash balances will not be sufficient to fund the Company’s current business plan beyond the next few months. As a consequence, the Company is currently focusing on revenue enhancement and cost cutting opportunities as well as working to sell non-core assets and to extend vendor payment terms. The Company continues to seek additional convertible debt or equity financing as well as the placement of a credit facility to fund the Company’s liquidity. There can be no assurance that the Company will be able to obtain additional capital on satisfactory terms, or at all, or on terms that will not dilute the shareholders’ interests. |
Convertible_Notes_Payable_Rela1
Convertible Notes Payable Related Party (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
Details | ' | ' |
Convertible Debt | $205,221 | $225,189 |
Repayments of Convertible Debt | 29,706 | ' |
Convertible Notes Payable | 48,588 | 50,000 |
Repayments of Debt | $3,651 | ' |
Stock_Based_Compensation_Sched1
Stock Based Compensation: Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended |
Oct. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Details | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | 3,191,382 | 3,202,882 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | ' | $0.03 | $0.03 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | 8.4 | 9.1 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | ' | 1,932,549 | 1,755,882 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | ' | $0.03 | $0.03 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | ' | 8.1 | 8.75 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | $13,488 | $42,261 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 120,000 | 7,500 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $0.03 | $0.04 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | ' | -15,000 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | ' | $0.05 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | ' | -4,000 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | ' | $0.04 | ' |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended |
Oct. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Details | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost | ' | ' | $10 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 'The stock options shall vest one-third each year starting from October 1, 2015 | ' | 'The stock options will vest one-third on each annual anniversary date of the grant |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | 'October 1, 2024 | ' | 'will expire ten years from the date of the grant. |
Allocated Share-based Compensation Expense | ' | $5,584 | $16,908 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | ' | ' | 1.41% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | ' | ' | 1.70% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | ' | ' | 5 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | ' | ' | 225.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | ' | ' | 234.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | 0.00% |
Series_A_Convertible_Preferred1
Series A Convertible Preferred Stock (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Details | ' | ' | ' | ' |
Preferred Stock, Voting Rights | ' | ' | 'On March 31, 2014 the Company’s board of directors made the determination that it was in the best interest of the Company and its stockholders to conserve the Company’s working capital at this time and not make the annual dividend payment for the year ending December 31, 2013. | ' |
Preferred Stock, Participation Rights | ' | ' | 'each share of the Series A Convertible Preferred Stock shall hereafter be entitled to two votes upon any matter that the holders of the Company’s common stock are entitled to vote. | ' |
Amortization of increasing dividend rate preferred stock discount | 15,131 | 29,002 | 45,393 | 37,607 |
Property_and_Equipment_Disclos1
Property and Equipment Disclosure (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Details | ' | ' |
Purchases of property and equipment | $59,379 | $5,634 |
Property and equipment purchased on accounts | 36,532 | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 1 Months Ended | 9 Months Ended |
Oct. 31, 2014 | Sep. 30, 2014 | |
Details | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 120,000 | 7,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $0.03 | $0.04 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 'The stock options shall vest one-third each year starting from October 1, 2015 | 'The stock options will vest one-third on each annual anniversary date of the grant |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | 'October 1, 2024 | 'will expire ten years from the date of the grant. |