Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 01, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | Franchise Holdings International, Inc. | |
Entity Central Index Key | 1,096,275 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
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 Common Stock, Shares Outstanding | 67,288,142 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,016 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 32,252 | $ 14,466 |
Accounts receivable | 11,887 | 95,563 |
Inventory | 89,117 | 129,006 |
Related party receivable (note 7) | 11,105 | 8,950 |
Prepaid expenses and deposits (note 11) | 37,668 | 4,606 |
Total Current Assets | 182,029 | 252,591 |
Property and Equipment, Net | 39,089 | 39,401 |
Intangible Assets, Net | 10,626 | 10,780 |
Total Assets | 231,744 | 302,772 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 293,644 | 248,300 |
Income taxes payable | 4,985 | 4,653 |
Current portion of promissory note payable (note 3) | 45,449 | 41,456 |
Convertible promissory note payable (note 4) | 70,496 | |
Derivative liability (note 5) | 137,353 | |
Total Current Liabilities | 551,927 | 294,409 |
Promissory Note Payable, Net of Current Portion (note 3) | 4,644 | |
Total Liabilities | 551,927 | 299,053 |
Comittments and Contingencies | ||
Shareholders' Equity (Deficit) | ||
Common stock, $0.0001 par value, 100,000,000 shares authorized, 67,288,142 and 66,885,082 shares issued and outstanding as of June 30, 2016 and December 31, 2015 respectively | 6,729 | 6,689 |
Additional paid in capital | 4,072,637 | 3,984,662 |
Cumulative translation adjustment | (10,728) | (6,212) |
Share subscriptions payable | 88,015 | |
Share subscriptions receivable | (7,600) | (17,500) |
Accumulated deficit | (4,381,221) | (4,051,935) |
Total Shareholders' Equity (Deficit) | (320,183) | 3,719 |
Total Liabilities and Shareholders' Equity (Deficit) | $ 231,744 | $ 302,772 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
Condensed Consolidated Balance Sheets | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, authorized | 100,000,000 | 100,000,000 |
Common stock, issued | 67,288,142 | 66,885,082 |
Common stock, outstanding | 67,288,142 | 66,885,082 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Statements Of Operations | ||||
Net Sales | $ 25,867 | $ 192,096 | $ 119,375 | $ 270,272 |
Cost of Goods Sold | 15,369 | 155,721 | 102,586 | 218,007 |
Gross Profit | 10,498 | 36,375 | 16,789 | 52,265 |
Operating Expenses | ||||
General and administrative | 19,215 | 84,437 | 49,044 | 102,504 |
Sales and marketing | 17,207 | 101,142 | 38,588 | 109,507 |
Professional fees | 63,518 | 632,836 | 97,889 | 646,820 |
Loss (gain) on foreign exchange | 7,753 | (2,051) | 6,385 | (1,601) |
Total operating expenses | 107,693 | 816,364 | 191,906 | 857,230 |
Loss from operations | (97,195) | (779,989) | (175,117) | (804,965) |
Other Income (Expense) | ||||
Interest expense | (7,385) | (3,905) | (16,816) | (4,615) |
Gain (loss) on derivative (note 5) | (137,353) | (137,353) | ||
Transaction costs | (38,280) | (38,280) | ||
Total other income (expense) | (144,738) | (42,185) | (154,169) | (42,895) |
Net Loss for the period | (241,933) | (822,174) | (329,286) | (847,860) |
Other Comprehensive Income (Loss) | ||||
Foreign currency translation adjustment | 4,090 | (17,802) | (4,516) | (23,339) |
Comprehensive Loss for the period | $ (237,843) | $ (839,976) | $ (333,802) | $ (871,199) |
Weighted Average Number of Shares (basic and diluted) | 67,288,142 | 23,662,690 | 27,279,284 | 13,556,886 |
Loss per Weighted Average Share (basic and diluted) | $ (0.04) | $ (0.01) | $ (0.06) |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash Flows from Operating Activities | ||
Net Loss | $ (329,286) | $ (847,860) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 712 | 417 |
Accretion of debt discount | 8,314 | |
Professional fees paid in shares | 517,664 | |
Sales and marketing fees paid in shares | 73,500 | |
Transaction costs | 38,280 | |
Loss on derivative | 137,353 | |
Total Items not involving cash flows from operating activities | (182,907) | (217,999) |
Changes in operating assets and liabilities: | ||
Decrease (increase) in accounts receivable | 83,676 | (67,968) |
Decrease (increase) in inventory | 39,889 | (161,194) |
Decrease (increase) in prepaid expenses and deposits | (33,062) | 1,116 |
Decrease (increase) in related party receivables | (2,155) | 288 |
Decrease (increase) in other receivables | (28,140) | |
Increase (decrease) in income taxes payable | 332 | (396) |
Increase (decrease) in accounts payable and accrued liabilities | 45,344 | 96,431 |
Net changes in non cash working capital | 134,024 | (159,863) |
Net cash used in operating activities | (48,883) | (377,862) |
Cash Flows from Investing Activities | ||
Purchase of property and equipment | (29,260) | |
Transaction costs | (69,870) | |
Purchase of intangible assets | (3,500) | |
Net cash used in investing activities | (102,630) | |
Cash Flows from Financing Activities | ||
Share subscription proceeds | 9,900 | 439,800 |
Repayments of promissory notes payable | (8,965) | |
Proceeds from convertible promissory note payable, net of debt issuance costs | 77,750 | |
Debt issuance costs | (7,500) | |
Net cash (used in) provided by financing activities | 71,185 | 439,800 |
Effects of Foreign Currency Translation | (4,516) | (23,339) |
Change in cash | 17,786 | (64,031) |
Cash and cash equivalents beginning of period | 14,466 | 155,735 |
Cash and cash equivalents end of period | 32,252 | 91,704 |
Significant Non Cash Transactions Not Disclosed Above | ||
Common Shares issued to service providers | $ 2,660,964 |
Basis of Presentation and Going
Basis of Presentation and Going Concern | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 1 - Basis of Presentation and Going Concern | a) Interim Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments and reclassifications considered necessary in order to make the financial statements not misleading and for a fair and comparable presentation have been included and are of a normal recurring nature. Operating results for the six month period ended June 30, 2016 are not necessarily indicated of the results that may be expected for the year ending December 31, 2016. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10 K for the year ended December 31, 2015 filed with the SEC on May 9, 2016. b) Functional and Presentation Currency These interim financial statements are presented in United States Dollars. The functional currency of the Company is the Canadian Dollar. c) Use of Estimates The preparation of condensed unaudited financial statements in conformity with accounting principles generally accepted in the United States 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 interim financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. d) Going Concern These condensed unaudited financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. During the six month period ended June 30, 2016, the Company incurred a net loss of $329,286, and as of that date, the Company's accumulated deficit was $4,381,22 While the Company has demonstrated the ability to generate revenue, there are no assurances that it will be able to achieve level of revenues adequate to generate sufficient cash flow from operations or obtain additional financing through private placements, public offerings and/or bank financing necessary to support our working capital requirements. To the extent that funds generated from any private placements, public offerings and/or bank financing are insufficient, we will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on acceptable terms. These conditions raise substantial doubt about our ability to continue as a going concern. If adequate working capital is not available we may be forced to discontinue operations, which would cause investors to lose their entire investment. e) Reclassification Certain comparative figures have been re classified to conform to the current period's presentation. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 2 - Significant Accounting Policies | The accounting polices used in the preparation of these interim unaudited consolidated financial statements are consistent with those of the Company's audited financial statements for the year ended December 31, 2015, with the exception of the following: Derivative Financial Instruments During the period ended June 30, 2016, the Company issued a convertible promissory note payable with such terms that require the Company to account for the transaction as a derivative financial instrument. The Company is accounting for this transaction in acoredance with FASB Accounting Standards Codification ("ASC") Topic 815, Derivatives and Hedging, which requires that every derivative instrument is recorded on the balance sheet as an asset or liability measured at its fair value as of the reporting date. ASC 815 also require changes in the derivatives' fair value to be recognized in earnings for the period. The Company has recorded the effective portion of the loss on derivatives in comprehensive loss for the three and six months ended June 30, 2016 in the accompanying balance sheets and statements of operations and comprehensive loss. |
Promissory Notes Payable
Promissory Notes Payable | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 3 - Promissory Notes Payable | In October 2015, the Company entered into a secured promissory note with an investor in the principal amount of 102,000 Canadian Dollars ($79,768). The Company received proceeds of 75,000 Canadian Dollars ($58,653) and 27,000 Canadian Dollars ($21,115) was recorded as an original issue discount which will be accreted over the life of the note to interest expense. The promissory note requires a daily payment of 324 Canadian Dollars ($249) until January 26, 2017 and carries a 40.0% interest rate. The promissory note is secured by all assets of the Company. The outstanding principal balance on the note at June 30, 2016 was 71,312 Canadian Dollars ($55,208) and the carrying amount of the original issue discount was 12,065 Canadian Dollars ($9,759). The outstanding principal balance on the note at December 31, 2015 was 87,480 Canadian Dollars ($63,208) and the carrying amount of the original issue discount was 23,677 Canadian Dollars ($17,108). The amounts repayable under the secured promissory note as at June 30, 2016 were as follows: Balance owing, June 30, 2016 $ 45,449 Less amounts due within one year (45,449 ) $ - The amounts repayable under the secured promissory note as at December 31, 2015 were as follows: Balance owing, December 31, 2015 $ 46,100 Less amounts due within one year (41,456 ) $ 4,644 |
Convertible Promissory Notes Pa
Convertible Promissory Notes Payable | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 4 - Convertible Promissory Notes Payable | In June 2016, the Company entered into a convertible promissory note in the principal amount of $77,750. The convertible promissory note bears interest at a rate of 10.0% per annum from the date of issue until the principal becomes due and payable whether at maturity or upon acceleration or by prepayment or otherwise. Any amount of principal or interest that is not paid when it becomes due shall bear interest at a rate of 24.0% per annum from the due date thereof until the outstanding amounts are paid. No amounts under the convertible promissory note can be prepaid in whole or in part except as otherwise explicitly set out in the terms of the convetible promissary note with the written consent of the Holder. The Holder has the right to convert any unpaid principal amount into shares of the Company's common stock at any time from the date of the issuance of the convertible promissory note to the later of (i) maturity or (ii) the date the outstanding principal and interest is paid. The price at which the conversion is to occur is the lesser of (i) 45% multiplied by the Trading Price (representing a discount rate of 55%) during the previous trading day period ending on the latest complete trading day prior to the date of the convertible promissory note and (ii) the Variable Conversion Price, which shall mean 45% multiplied by the Market Price which shall be the lowest Trading Price for the Company's Stock during the 25 day Trading Period ending on the last complete Trading Day prior to the Conversion Date. In connection with the issuance of the convertible promissory note, the Company incurred debt issuance costs of $7,500 which are being amortized over the maturity period of the convertible promissory note. Included in interest expense for the three and six months ended June 30, 2016, is $246 related to the amortization of the debt issuance costs. The amounts repayable under the convertible promissory note as at June 30, 2016 were as follows: Principal amount, June 30, 2016 $ 77,750 Less unamortized debt issuance costs (7,254 ) 70,496 Less amounts due within one year (70,496 ) $ - |
Derivative Liability
Derivative Liability | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 5 -Derivative Liability | The Company adopoted ASC 815 which defines the determination of whether an instrument (or embedded feature) is solely indexed to an entity's own stock. During the period ended June 30, 2016, the Company issued a convertible promissory note payable, as described in note 4, which contains a feature that entitles the holder to convert any outstanding amounts payable under the convertible promissory note into a shares of the common stock of the Company, the number of which is dependent on several factors. As such, ASC 815 determines the convertible promissory note to be a hybrid financial instrument that includes an embedded derivative that requires separation from the main financial instrument and recognition at fair value. At origination, the Company valued the conversion feature of the convertible promissory note using the following assumptions: Expected volatility 226 % Share price $ 0.0675 The Company determined that at origination, the fair value of the derivative liability related to the conversion feature was $136,479 which was expensed at the time of origination. At June 30, 2016, the Company revalued the conversion feature of the convertible promissory note using the following assumptions: Expected volatility 234 % Share price $ 0.0675 The Company determined that, from the time of inception to June 30, 2016, the value of the derivative liability increased to $137,353. The corresponding loss of $874 has been recognized during the period ended June 30, 2016, and has the effect of increasing the original loss recorded at the time of origination. |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 6 - Common Stock | The Company is authorized to issue 100,000,000 shares of its common stock with a par value of $0.0001. All shares are ranked equally with regards to the Company's residual assets. During the six months ended June 30, 2016, the Company issued 403,060 common shares, the proceeds of which were received during the year ended December 31, 2015. During the period ended June 30, 2016, the Company entered into a Equity Purchase Agreement (the "Agreement") pursuant to which the Company will issue up to $1,000,000 of the Company's common stock. All sales of the Company's stock pursuant to the Agreement are subject to the Company fulfilling certain conditions contained therein, including the filing and effectiveness of a registration document with the SEC to register the shares of the common stock to be sold. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 7 - Related Party Transactions | During the six month period ended June 30, 2016, the Company recorded salaries expense of $12,956 (2015 $0) office and general expenses of $0 (2015 $30,673) related to services rendered to the Company by its major shareholder. During the three month period ended June 30, 2016, the Company recorded salaries expense of $7,148 (2015 $0) office and general expenses of $0 (2015 $20,601) related to services rendered to the Company by its major shareholder. |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 8 - Financial Instruments | Credit Risk The Company is exposed to credit risk on the accounts receivable from its customers. In order to reduce its credit risk, the Company has adopted credit policies which include the analysis of the financial position of its customers and the regular review of their credit balances. The Company incurred bad debt expense of $0 during the period ended June 30, 2016 (2015 $0). Currency Risk The Company is exposed to currency risk on its sales and purchases denominated in Canadian Dollars. The Company actively manages these risks by adjusting its pricing to reflect currency fluctuations and purchasing foreign currency at advantageous rates. Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its obligations associated with financial liabilities. The Company relies on cash flows generated from operations, as well as injections of capital through the issuance of the Company's capital stock to settle its liabilities when they become due. Concentration of Supplier Risk The Company purchases all of its inventory from one supplier source in Asia. The Company carries significant strategic inventories of these materials to reduce the risk associated with this concentration of suppliers. Strategic inventories are managed based on demand. To date, the Company has been able to obtain adequate supplies of the materials used in the production of its products in a timely manner from existing sources. The loss of this key supplier or a delay in shipments could have an adverse effect on its business. Concentration of Customer Risk The following table includes the percentage of the Company's sales to significant customers for the six months ended June 30, 2016 and 2015, as well as the balance included in accounts receivable for each significant customer as at June 30, 2016 and 2015. A customer is considered to be significant if they account for greater than 10% of the Company's sales for the reporting period. 2016 2015 $ % $ % Customer A 2,541 42.7 36,845 30.6 Customer B 3,313 16.1 8,337 6.5 Customer C 994 1.1 21,134 34.4 6,848 59.9 66,316 71.5 The loss of any of these key customers could have an adverse effect on the Company's business. |
Reclassification
Reclassification | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 9 - Reclassification | Certain comparative figures have been re classified to conform to the current period's presentation. |
Evaluation of Subsequent Events
Evaluation of Subsequent Events | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
NOTE 10 - Evaluation of Subsequent Events | The Company evaluated all subsequent events after the balance sheet date through August 25, 2016, the date the financial statements were available to be issued, and concluded there were no events or transactions occurring during this period that required recognition or disclosure in the financial statements other than that mentioned above. |
Significant Accounting Polici16
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Significant Accounting Policies Policies | |
Interim Financial Information | The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments and reclassifications considered necessary in order to make the financial statements not misleading and for a fair and comparable presentation have been included and are of a normal recurring nature. Operating results for the six month period ended June 30, 2016 are not necessarily indicated of the results that may be expected for the year ending December 31, 2016. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10 K for the year ended December 31, 2015 filed with the SEC on May 9, 2016. |
Functional and Presentation Currency | These interim financial statements are presented in United States Dollars. The functional currency of the Company is the Canadian Dollar. |
Use of Estimates | The preparation of condensed unaudited financial statements in conformity with accounting principles generally accepted in the United States 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 interim financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. |
Going Concern | These condensed unaudited financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. During the six month period ended June 30, 2016, the Company incurred a net loss of $329,286, and as of that date, the Company's accumulated deficit was $4,381,22 While the Company has demonstrated the ability to generate revenue, there are no assurances that it will be able to achieve level of revenues adequate to generate sufficient cash flow from operations or obtain additional financing through private placements, public offerings and/or bank financing necessary to support our working capital requirements. To the extent that funds generated from any private placements, public offerings and/or bank financing are insufficient, we will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on acceptable terms. These conditions raise substantial doubt about our ability to continue as a going concern. If adequate working capital is not available we may be forced to discontinue operations, which would cause investors to lose their entire investment. |
Reclassification | Certain comparative figures have been re classified to conform to the current period's presentation. |
Derivative Financial Instruments | During the period ended June 30, 2016, the Company issued a convertible promissory note payable with such terms that require the Company to account for the transaction as a derivative financial instrument. The Company is accounting for this transaction in acoredance with FASB Accounting Standards Codification ("ASC") Topic 815, Derivatives and Hedging, which requires that every derivative instrument is recorded on the balance sheet as an asset or liability measured at its fair value as of the reporting date. ASC 815 also require changes in the derivatives' fair value to be recognized in earnings for the period. The Company has recorded the effective portion of the loss on derivatives in comprehensive loss for the three and six months ended June 30, 2016 in the accompanying balance sheets and statements of operations and comprehensive loss. |
Promissory Notes Payable (Table
Promissory Notes Payable (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Promissory Notes Payable Tables | |
Summary of promissory note | The amounts repayable under the secured promissory note as at June 30, 2016 were as follows: Balance owing, June 30, 2016 $ 45,449 Less amounts due within one year (45,449 ) $ - The amounts repayable under the secured promissory note as at December 31, 2015 were as follows: Balance owing, December 31, 2015 $ 46,100 Less amounts due within one year (41,456 ) $ 4,644 |
Convertible Promissory Notes 18
Convertible Promissory Notes Payable (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Convertible Promissory Notes Payable Tables | |
Schedule of convertible promissory note | Principal amount, June 30, 2016 $ 77,750 Less unamortized debt issuance costs (7,254 ) 70,496 Less amounts due within one year (70,496 ) $ - |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Financial Instruments Tables | |
Concentration of sales | 2016 2015 $ % $ % Customer A 2,541 42.7 36,845 30.6 Customer B 3,313 16.1 8,337 6.5 Customer C 994 1.1 21,134 34.4 6,848 59.9 66,316 71.5 |
Basis of Presentation and Goi20
Basis of Presentation and Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Basis Of Presentation And Going Concern Details Narrative | |||||
Net Loss for the year | $ (241,933) | $ (822,174) | $ (329,286) | $ (847,860) | |
Accumulated deficit | $ (4,381,221) | $ (4,381,221) | $ (4,051,935) |
Promissory Notes Payable (Detai
Promissory Notes Payable (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Promissory Notes Payable Details | ||
Balance owing | $ 45,449 | $ 46,100 |
Less amounts due within one year | (45,449) | (41,456) |
Promissory Note Payable | $ 4,644 |
Promissory Notes Payable (Det22
Promissory Notes Payable (Details Narrative) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Promissory Notes Payable Details Narrative | ||
Outstanding principal balance | $ 55,208 | $ 63,208 |
Carrying amount of the original issue discount | $ 9,759 | $ 17,108 |
Convertible Promissory Notes 23
Convertible Promissory Notes Payable (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Convertible Promissory Notes Payable Details | ||
Principal amount, June 30, 2016 | $ 77,750 | |
Less unamortized debt issuance costs | (7,254) | |
convertible promissory note, Gross | 70,496 | |
Less amounts due within one year | (70,496) | |
convertible promissory note, Net |
Convertible Promissory Notes 24
Convertible Promissory Notes Payable (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | |
Convertible Promissory Notes Payable Details Narrative | |||
Debt issuance costs | $ (7,500) | ||
Interest expense related to the amortization of the debt issuance costs | $ 246 | 246 | |
Principal amount | $ 77,750 | $ 77,750 |
Derivative Liability (Details)
Derivative Liability (Details) | 6 Months Ended |
Jun. 30, 2016$ / shares | |
Expected volatility | 234.00% |
Share price | $ 0.0675 |
Origination [Member] | |
Expected volatility | 226.00% |
Share price | $ 0.0675 |
Derivative Liability (Details N
Derivative Liability (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Derivative Liability Details Narrative | ||||
Increase in derivative liability | $ 137,353 | $ 137,353 | ||
Loss on derivative liability | $ 874 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Common Stock Details Narrative | ||
Common stock issued during period | 403,060 | |
Common stock, authorized | 100,000,000 | 100,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Related Party Transactions Details Narrative | ||||
Office and general expenses | $ 0 | $ 20,601 | $ 0 | $ 30,673 |
Salaries expense | $ 7,148 | $ 0 | $ 12,956 | $ 0 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Concentration of Revenues | 59.90% | 71.50% |
Concentration of accounts receivable | $ 6,848 | $ 66,316 |
Customer A [Member] | ||
Concentration of Revenues | 42.70% | 30.60% |
Concentration of accounts receivable | $ 2,541 | $ 36,845 |
Customer B [Member] | ||
Concentration of Revenues | 16.10% | 6.50% |
Concentration of accounts receivable | $ 3,313 | $ 8,337 |
Customer C [Member] | ||
Concentration of Revenues | 1.10% | 34.40% |
Concentration of accounts receivable | $ 994 | $ 21,134 |
Financial Instruments (Details
Financial Instruments (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Financial Instruments Details Narrative | ||
Bad debt expense | $ 0 | $ 0 |