Eastgate Biotech (ETBI) 10-K 18 Nov 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Oct. 31, 2016	Jun. 30, 2015
Document and Entity Information:
Entity Registrant Name	EASTGATE BIOTECH CORP
Entity Central Index Key	1,099,574
Trading Symbol	etbi
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		306,822,175
Entity Public Float			$ 3,694,442
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current
Cash	$ 19,241	$ 286,481
Deposits	14,595
Sales tax recoverable	79,681	53,208
Total current assets	113,517	339,689
Other assets
Property & Equipment, net	184,402	143,246
Total other assets	184,402	143,246
Total assets	297,919	482,935
Current liabilities
Accounts payable and accrued liabilities	361,094	299,099
Deferred revenue	23,847
Accrued liabilities related party	732,125	388,675
Deferred rent	2,064	4,200
Capital lease obligation Current portion	8,130
Accrued interest - related parties	292,769	182,845
Notes payable - related parties	1,308,585	1,006,391
Total current liabilities	2,728,614	1,881,210
Long term liabilities
Capital lease obligation long term	50,386
Total long term liabilities	50,386
Total Liabilities	2,779,000	1,881,210
Stockholders' equity (deficit)
Preferred stock:50,000,000 shares authorized at $0.00001 par value no shares issued at December 31, 2015 and December 31, 2014
Common stock: 450,000,000 shares authorized at $0.00001 par value 282,872,175 and 89,635,234 shares issued and outstanding at December 31, 2015 and December 31, 2014 respectively	2,829	896
Additional paid-in capital	9,137,764	5,957,771
Accumulated other comprehensive income	31,846	15,268
Deficit accumulated during the development stage	(11,653,520)	(7,372,210)
Total stockholders' Equity (Deficit)	(2,481,081)	(1,398,275)
Total liabilities and stockholders' equity (deficit)	$ 297,919	$ 482,935

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares issued	0	0
Common stock, shares authorized	450,000,000	450,000,000
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, issued	282,872,175	89,635,234
Common stock, outstanding	282,872,175	89,635,234

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
REVENUES	$ 132,025
Cost of goods sold	19,195
Gross (loss) profit	112,830
OPERATING EXPENSES
Professional fees	137,066	$ 177,679
Research & development	1,118,150	840,240
General and administrative	2,541,586	3,724,648
Marketing and selling	487,414	76,240
Total Operating Expenses	4,284,216	4,818,807
LOSS FROM OPERATIONS	(4,171,386)	(4,818,807)
Other items
Interest expense	(109,924)	(88,879)
Total other items	(109,924)	(88,879)
LOSS BEFORE INCOME TAXES	(4,281,310)	(4,907,686)
PROVISION FOR INCOME TAXES
NET LOSS	$ (4,281,310)	$ (4,907,686)
BASIC LOSS PER SHARE	$ (0.02)	$ (0.10)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	191,504,169	49,526,133
A summary of the components of other comprehensive loss for the periods ended is as follows:
Net Income(Loss)	$ (4,281,310)	$ (4,907,686)
Other Comprehensive Income(Loss) - foreign currency translation	16,578	15,121
Comprehensive Loss	$ (4,264,732)	$ (4,892,565)

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid-In Capital	Subscription Payable	Accumulated other comprehensive income	Accumulated Deficit	Total
Balance at Dec. 31, 2013	$ 316	$ 134,884	$ 2,000	$ 147	$ (2,464,524)	$ (2,327,177)
Balance (in shares) at Dec. 31, 2013	31,625,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued in conversion of accrued compensation	$ 252	834,377				834,629
Shares issued in conversion of accrued compensation (in shares)	25,167,355
Shares issued for services	$ 103	1,477,776				1,477,879
Shares issued for services (in shares)	10,322,233
Shares issued in conversion of accrued accounts payable	$ 8	114,351				114,359
Shares issued in conversion of accrued accounts payable (in shares)	819,246
Private placement shares and warrants issued for cash	$ 133	1,548,367	(2,000)			1,546,500
Private placement shares and warrants issued for cash (in shares)	13,309,000
Shares and warrants (units) issued for accrued compensation	$ 74	1,848,026				1,848,100
Shares and warrants (units) issued for accrued compensation (in shares)	7,392,400
Stock issued for placement services	$ 10	(10)
Stock issued for placement services (in shares)	1,000,000
Foreign Currency Translation adjustments				15,121		15,121
Net loss for the period					(4,907,686)	(4,907,686)
Balance at Dec. 31, 2014	$ 896	5,957,771		15,268	(7,372,210)	$ (1,398,275)
Balance (in shares) at Dec. 31, 2014	89,635,234					89,635,234
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued in conversion of accrued compensation	$ 1,179	1,236,151				$ 1,237,330
Shares issued in conversion of accrued compensation (in shares)	117,898,608
Shares issued for services	$ 243	560,351				560,594
Shares issued for services (in shares)	24,253,333
Stock options and warrants issued		488,351				488,351
Shares issued for Acquisition of Assets/Lease	$ 15	20,985				21,000
Shares issued for Acquisition of Assets/Lease (in shares)	1,500,000
Private placement shares and warrants issued for cash	$ 3	24,997				25,000
Private placement shares and warrants issued for cash (in shares)	335,000
Shares and warrants (units) issued for accrued compensation
Shares and warrants (units) issued for accrued compensation (in shares)
Shares issued for bonus	$ 493	849,158				849,651
Shares issued for bonus (in shares)	49,250,000
Foreign Currency Translation adjustments				16,578		16,578
Net loss for the period					(4,281,310)	(4,281,310)
Balance at Dec. 31, 2015	$ 2,829	$ 9,137,764		$ 31,846	$ (11,653,520)	$ (2,481,081)
Balance (in shares) at Dec. 31, 2015	282,872,175					282,872,175

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (4,281,310)	$ (4,907,686)
Adjustments to reconcile net loss to net cash used in operating activities:
Expenses paid on the Company's behalf by a related party	(5,431)	4,937
Common stock issued for services	560,594	1,477,879
Depreciation	44,245	27,875
Stock options and warrants issued	488,351
Changes in operating assets and liabilities:
Accrued interest	109,924	87,840
Prepaid asset	(14,595)
Accounts payable	99,963	47,364
Accrued liabilities related party	2,443,595	2,069,912
Sales tax recoverable	(38,108)	(56,054)
Deferred rent	(1,583)	4,425
Deferred revenue	25,911
Cash flows from operating activities	(568,444)	(1,243,510)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment		(99,823)
Cash flows from investing activities		(99,823)
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of capital lease obligation	(5,885)	(24,380)
Proceeds from notes payable related party	310,825	190,880
Payments on notes payable related party	(3,199)	(87,536)
Common stock issued for cash	25,000	1,546,500
Cash flows from financing activities	326,741	1,625,464
NET INCREASE (DECREASE) IN CASH	(241,703)	282,131
Effect of foreign currency translation adjustments	(25,537)	3,892
Cash, beginning of the period	286,481	458
Cash, end of the period	19,241	286,481
Supplemental disclosures of cash flow information:
Cash paid for income taxes
Cash paid for interest	4,898	1,175
Non Cash Financing activities:
Common stock issued to convert liabilities	2,086,981	2,797,088
Common stock issued - subscription payable		2,000
Equipment Purchased for Capital Lease obligation and common Stock	$ 85,401
Common stock issued for placement fees		$ 10

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business Eastgate Biotech Corp. (The Company) was organized on September 8, 1999, under the laws of the State of Nevada. The Company is a start-up company which has limited history of operations is engaged in the research and development of drug delivery innovations for developing of improved novel formulations and alternative dosage forms of existing biologically active molecules. During the year ended December 31, 2012 the Company formed Eastgate Pharmaceuticals, Inc. as a wholly-owned subsidiary of the Company. Principles of Consolidation The consolidated financial statements include the accounts of Eastgate Biotech Corp. and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. Property and Equipment Property and equipment are recorded at cost and are depreciated when placed into service using the straight-line method based on their estimated useful lives of five year. Equipment under capital leases are stated at the lower of fair market value or net present value of the minimum lease payments at the inception of the leases. Research and Development Costs The Company expenses research and development costs to operations as incurred. Research and development expenses are comprised of costs incurred in performing research and development activities, including employee-related expenses; laboratory supplies and other direct expenses; third-party contractual costs relating to nonclinical studies and related contract manufacturing expenses, development of manufacturing processes and regulatory registration. Impairment of Long-Lived Assets The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. Fair Value of Financial Instruments The Company uses fair value measurements to record fair value adjustments to certain financial and non-financial assets and liabilities to determine fair value disclosures. The accounting standards define fair value, establish a framework for measuring fair value, and require disclosures about fair value measurements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the principal or most advantageous market in which the Company would transact are considered along with assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The accounting standard for fair value establishes a fair value hierarchy based on three levels of inputs, the first two of which are considered observable and the last unobservable, that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value are as follows: Level 1 — Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Valuations based on unobservable inputs to the valuation methodology and including data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. Revenue Recognition We recognize revenue when the following criteria are met: persuasive evidence of a sales arrangement exists; delivery has occurred; the price is fixed or determinable; and collectability is reasonably assured. During the year ended December 31, 2015, we received revenue through various sources, such as product sales and royalty agreements. We recognize royalty revenue and revenue from product sales only when all revenue recognition criteria have been satisfied. Stock Based Compensation The Company has equity incentive plans under which various types of equity-based awards including, but not limited to, incentive stock options, non-qualified stock options, and warrants, may be granted to employees, non-employee directors, and non-employee consultants. For stock options and warrants granted, the Company recognizes compensation expense based on the estimated grant-date fair values, net of an estimated forfeiture rate. The value of the portion of the award that is ultimately expected to vest is recognized as expense ratably over the requisite service period. The fair value of stock options and warrants is determined using the Black-Scholes option pricing model. The Company estimates its forfeiture rate based on an analysis of its actual forfeitures and will continue to evaluate the adequacy of the forfeiture rate assumption based on actual forfeitures, analysis of employee turnover, and other related factors. Income Taxes The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 39% to net the loss before provision for income taxes for the following reasons: December 31, December 31, 2015 2014 Income tax expense at statutory rate $ (1,669,711 ) $ (1,913,997 ) Contributed services Stock issued for services 218,584 576,373 Depreciation and amortization 17,256 10,871 Change in valuation allowance 1,433,871 1,326,753 Income tax expense per books $ -0- $ -0- Net deferred tax assets consist of the following components as of: December 31, December 31, 2015 2014 NOL carryover $ 4,544,810 $ 2,875,099 Common stock issued for services (794,957 ) (576,373 ) Depreciation (33,789 ) (16,533 ) Valuation allowance (3,716,064 ) (2,282,193 ) Net deferred tax asset $ -0- $ -0- Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of $4,544,810 for federal income tax reporting purposes are subject to annual limitations. When a change in ownership occurs, net operating loss carry forwards may be limited as to use in future years. Earnings (Loss) per Share The Company has adopted ASC 260, “Earnings Per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures, and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. The Company has potentially dilutive securities, comprised of 41,715,152 warrants and 10,375,000 options issued as of December 31, 2015. Only 17,272,300 warrants were outstanding on December 31, 2014. Comprehensive Loss Other comprehensive loss, which includes only foreign currency translation adjustments, is shown in the Statement of Changes in Stockholder’s Equity. Foreign Currency Translation Foreign denominated assets and liabilities of the Company are translated into U.S. dollars at the prevailing exchange rates in effect at the end of the reporting period. Income statement accounts are translated at a weighted average of exchange rates which were in effect during the period. Translation adjustments that arise from translating the foreign subsidiary’s financial statements from local currency to U.S. currency are recorded in the other comprehensive loss component of stockholders’ equity. Recent Accounting Pronouncements The Company has evaluated recent accounting pronouncements and their adoption has not had nor is not expected to have a material impact on the Company’s financial position or statements. Accounting Basis The basis is accounting principles generally accepted in the United States of America. The Company has adopted a December 31 fiscal year end.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2015
Going Concern [Abstract]
GOING CONCERN	NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. However, the Company has accumulated deficit of $11,653,520 as of December 31, 2015, compared to $7,372,210 in 2014. The Company currently has limited liquidity, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time, raising substantial doubt about its ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS	NOTE 3 - RELATED-PARTY TRANSACTIONS Notes payable – related parties The Company has recorded loans from shareholders, amounts due to shareholders for expenses paid on its behalf by shareholders as Notes payable - related parties on the balance sheet. The amounts comprising Notes payable – related parties bear interest ranging from 5 percent per annum to 10 percent per annum, are unsecured and are due and payable upon demand. During the year ended December 31, 2015 the CEO and companies owned by the CEO as well as a company owned by a related party shareholder have paid for expenses on behalf of the Company of $2,337advanced cash to the Company of $310,825 During the year ended December 31, 2014 the CEO and companies owned by the CEO as well as a company owned by a related party shareholder have paid for expenses on behalf of the Company of $4,938, advanced cash to the Company of $190,880. As of December 31, 2015 and 2014, the Company owed $292,769 and $182,845 of accrued interest to related parties, respectively, resulting from interest expense of $109,954 and $88,879, respectively. Officer Compensation In the year ended December 31, 2015 the Company recorded executive compensation expense to the CEO of $424,550 which was recorded in accrued liabilities-related party. In addition, services provided by other officers and management of the Company amounting to an expense of $831,250 was recorded in accrued liabilities related party. Some of the balances accumulated in accrued liabilities related party were converted to common stock at the then prevailing market price ranging from $0.0286 to $0.01 per share. In the year ended December 31, 2014 the Company recorded compensation expense to the CEO of $359,749 which is recorded in accrued liabilities related party. In addition, services provided by other officers and management of the Company amounting to an expense of $1,382,207 was recorded in accrued liabilities related party. Lease payable – related parties The Company has entered into a lease agreement on July 1, 2012 for the use of operating space owned by our President, which expires on June 30, 2017. The lease agreement is for the use of the office space at a monthly rate of approximately $2,742 per month. (See Note 6.)

PROPERTY & EQUIPMENT AND CAPITA

PROPERTY & EQUIPMENT AND CAPITAL LEASE OBLIGATION	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
PROPERTY & EQUIPMENT AND CAPITAL LEASE OBLIGATION	NOTE 4 - PROPERTY & EQUIPMENT AND CAPITAL LEASE OBLIGATION On August 25, 2015 the Company entered into a capital lease agreement to purchase equipment. The lease had a term of 60 months starting August 25, 2015 with the final payment due on June 25, 2020 and advance payment of $21,000 in stock. The lease specified a monthly payment of $1,797. The lease required minimum lease payments of $107,822. The lease was recorded at $64,401, which is present value of minimum lease payment using the company’s incremental borrowing rate of $24.46%. During the twelve months ended December 31, 2015 the company paid principal of $5,885, leaving an amount owing at the end of the period of $58,516. During the twelve months ending December 31, 2015, the Company purchased no additional equipment except the capital lease agreement above. The estimated useful life of equipment purchased during the year ended December 31, 2015 is 5 years. During the twelve months ending December 31, 2014, the Company purchased additional equipment for cash of $99,823. The estimated useful life of all equipment purchased during the year ended December 31, 2014 is also 5 years. Depreciation expense of $44,245 and $27,874 was recorded during the year ended December 31, 2015 and December 31, 2014, leaving a net balance in Property & Equipment of $184,402 and $143,246 at December 31, 2015 and December 31, 2014, respectively. The costs and accumulated depreciation of property and equipment are summarized as follows: December 31, December 31, 2015 2014 Lab Equipment $ 271,040 $ 185,639 Less: Accumulated Depreciation (86,638 ) (42,393 ) Property and Equipment, Net $ 184,402 $ 143,246

SALES TAX RECOVERABLE

SALES TAX RECOVERABLE	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Sales tax recoverable	NOTE 5 - SALES TAX RECOVERABLE Sales tax receivable The Company recovers sales tax paid, for which returns are filed on annual basis. At December 31, 2015, $79,681 was claimed as recoverable compared to the December 31, 2014 balance of $53,208. Sales tax recoverable is a result of sales tax paid on eligible expenses.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 6 - COMMITMENTS AND CONTINGENT LIABILITIES Operating Lease The Company has assumed a lease agreement from a company controlled by the CEO on October 31, 2012 for the use of operating space owned by a third party, which expires on May 16, 2017. The Company has entered into a lease agreement on July 1, 2012 for the use of operating space owned by President, which expires on June 30, 2017. Aggregate minimum annual lease commitments of the Company under non-cancelable operating leases as of December 31, 2015 are as follows: Year Amount 2016 $ 79,598 2017 35,690 Thereafter 0 Total Minimum Lease Payments $ 115,288 Lease expense amounted to $84,904 and $123,319 for the years ended December 31, 2015 and 2014, respectively. The preceding data reflects existing leases and does not include replacements upon their expiration. In the normal course of business, operating leases are generally renewed or replaced by other leases. Patent Assignment Agreement In 2014, the Company entered into a Patent Assignment Agreement with two affiliated shareholders (“the Affiliates”) related to four patent applications that are an integral part of the Company’s R&D activities. On October 14, 2016, the Company amended the Patent Assignment Agreement (“the Amendment”) to expire on March 1, 2017 and to include additional specific financial and performance milestones that, if not met, can be considered grounds for an earlier termination and loss of the rights to the patents. In addition, as of October 14, 2016 the Company owed $376,400 to the Affiliates (approximately $170,000 of which was owed as of December 31, 2015 and has been recorded in Accrued liabilities related party on the balance sheet). The Amendment altered the terms of repayment of the $376,400 to bear 10% annual interest and to be paid monthly over 48 months starting January 1, 2017.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 7 - STOCKHOLDERS’ EQUITY On September 15, 2014, the board of directors and the shareholders holding a majority of our common stock approved amending our Restated Articles of Incorporation to 1) change our name to "Eastgate Biotech Corp." from "Eastgate Acquisitions Corporation" and 2) increase our total number of shares of authorized capital stock to 500,000,000 shares consisting of (i) 450,000,000 shares of common stock and (ii) 50,000,000 shares of preferred stock. Also on September 15, 2014 shareholders holding a majority of our common stock approved the Company's 2014 Equity Incentive Plan, which was previously approved by the board of directors on May 20, 2014. The name change and increase in authorized shares will become effective when we amended the Restated Articles of Incorporation by filing a Certificate of Amendment with the Secretary of State of Nevada on November 20, 2014. Common Stock Issuances During the quarter ended March 31, 2015, the Company issued 8,146,225 units of its securities in satisfaction of accrued liabilities comprised of $325,849 of compensation owed to eight directors and members of management at the price of $0.04 per share. Each unit consisted of one share of common stock and a five year warrant to purchase one share of common stock at an exercise price of $0.04 per share. As a result of this transaction, the Company issued 8,146,225 shares of common stock and 8,146,225 warrants to purchase our common stock. Also during the quarter ended March 31, 2015, the Company issued a total of 3,700,000 shares of common stock to consultants for services rendered at the price of $0.035 per share. Also during the quarter ended March 31, 2015, the Company issued a total of 15,250,000 shares of common stock to employees and consultants for services rendered at the price of $0.0286 per share. In March 2015, the Company issued a total of 8,683,333 shares of common stock to consultants for services rendered at the price of $0.033 per share. During the quarter ended June 30, 2015 the Company issued 62,285,718 shares of common stock in satisfaction of accrued liabilities comprised of $436,000 of compensation owed to the eight who are directors, officers and members of management at the market price of $0.007 per share. During the quarter ended June 30, 2015 the Company issued 15,000,000 shares of common stock to a director and two officers in recognition of the progress made in the development platform being used in various pharmaceutical and natural products. The shares were issued at the price of $0.0149 per shares. During the quarter ended September 30, 2015 the Company sold 125,000 units at a purchase price of $0.04 per unit in a private placement of its securities to accredited investors for total proceeds of $5,000. Each unit consisted of one share of common stock and a five year warrant to purchase one share at an exercise price of $0.04 per share During the quarter ended September 30, 2015 the Company issued 870,000 shares of common stock to a consultant for services at a price of $0.014 per share. During the quarter ended September 30, 2015 the Company issued 1,500,000 shares at closing price of $0.014 as a partial payment for acquisition of equipment. During the quarter ended September 30, 2015 the Company awarded the issue 5,000,000 shares of common stock to a director and officer in recognition of the progress made in the natural product division. The shares were issued at the price of $0.01 per shares. During the quarter ended September 30, 2015, the Company issued 17,000,000 shares of common stock to two officers and one employee as part of their annual compensation at the price of $0.01 per shares. During the quarter ended September 30, 2015 the Company issued 41,666,666 shares of common stock in satisfaction of accrued liabilities comprised of $416,667 of compensation owed to directors, officers and members of management at the market price of $0.01 per share. During the quarter ended September 30, 2015 the Company issued 8,000,000 shares of common stock to consultants for services at a price of $0.013 per share. During the quarter ended December 31, 2015 the Company sold 200,000 shares at a purchase price of $0.10 per share in a private placement of its securities to accredited investors for total proceeds of $20,000. The company issued 10,000 shares as finder’s fee in connection with this transaction. Warrants As of December 31, 2015, the Company had 41,715,152 warrants to purchase common stock compared to 17,272,300 warrants outstanding at the end of 2014. As stated above, the Company issued 8,146,225 warrants in conjunction with conversion of accounts payable and accrued liabilities to common stock units. The Company also issued 125,000 warrants in connection with private placement and 16,171,627 warrants in conjunction to a consulting agreement entered into in October 2015. The following table summarizes warrants that are issued, outstanding and exercisable Number of Weighted Weighted Expiration Date (years) Value if Balance Dec 31, 2014 17,272,300 $ 0.149 $ 0.101 4.38 $ 2,581,825 Granted 24,442,852 0.014 0.016 4.25 $ 381,011 Exercised - - 0.18 - - Cancelled/Expired - - - - - Outstanding as of Dec 31, 2015 41,715,152 $ 0.070 $ 0.051 4.14 $ 2,912,836 The details of the warrants outstanding are as follows: Warrants Issued & Outstanding Exercise Expiration December 31, December 31, Price Date 2015 2014 $ 0.25 March 14, 2019 3,495,000 3,495,000 $ 0.25 March 21, 2019 3,480,000 3,480,000 $ 0.25 June 6, 2019 2,022,300 2,022,300 $ 0.05 October 16, 2019 150,000 150,000 $ 0.04 December 29, 2019 8,125,000 8,125,000 $ 0.04 January 05, 2020 8,146,225 - $ 0.04 August 19, 2020 125,000 - $ 0.00001 October 6, 2020 16,171,627 - 41,715,152 17,272,300 Options During February 2015, the Company issued a total of 10,375,000 options to purchase shares of common stock to employees and consultants as compensation at the exercise price of $0.0286 per share. The total fair value of the options at the date of the grant was $291,427. The options vested immediately and a charge of $291,427 was recorded as of grant date. The fair value was estimated using the Black-Scholes option pricing model, taking into account the grant date exercise price of $0.0286, an expected life of the option of 2.5 years, an expected volatility of 211.1%, expected dividends on the stock of 0 and the risk-free interest rate for the term of the option of 1.02%. As of December 31, 2015, all options remain outstanding and have a remaining life of 4.08 years.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 - SUBSEQUENT EVENTS In accordance with ASC 855 Company management reviewed all material events through the date of this report. In February of 2016 the Company issued 23,400,000 shares of common stock to consultants for services at a price of $0.03 per share. On July 16, 2016 two of the warrant holders have exercised a total of 550,251 warrants using cashless exercise provision. The Company did not receive any proceeds from this transaction that resulted in 550,000 shares being issued in total.

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Eastgate Biotech Corp. and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost and are depreciated when placed into service using the straight-line method based on their estimated useful lives of five year. Equipment under capital leases are stated at the lower of fair market value or net present value of the minimum lease payments at the inception of the leases.
Research and Development Costs	Research and Development Costs The Company expenses research and development costs to operations as incurred. Research and development expenses are comprised of costs incurred in performing research and development activities, including employee-related expenses; laboratory supplies and other direct expenses; third-party contractual costs relating to nonclinical studies and related contract manufacturing expenses, development of manufacturing processes and regulatory registration.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company uses fair value measurements to record fair value adjustments to certain financial and non-financial assets and liabilities to determine fair value disclosures. The accounting standards define fair value, establish a framework for measuring fair value, and require disclosures about fair value measurements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the principal or most advantageous market in which the Company would transact are considered along with assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The accounting standard for fair value establishes a fair value hierarchy based on three levels of inputs, the first two of which are considered observable and the last unobservable, that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value are as follows: Level 1 — Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Valuations based on unobservable inputs to the valuation methodology and including data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances.
Revenue Recognition	Revenue Recognition We recognize revenue when the following criteria are met: persuasive evidence of a sales arrangement exists; delivery has occurred; the price is fixed or determinable; and collectability is reasonably assured. During the year ended December 31, 2015, we received revenue through various sources, such as product sales and royalty agreements. We recognize royalty revenue and revenue from product sales only when all revenue recognition criteria have been satisfied.
Stock Based Compensation	Stock Based Compensation The Company has equity incentive plans under which various types of equity-based awards including, but not limited to, incentive stock options, non-qualified stock options, and warrants, may be granted to employees, non-employee directors, and non-employee consultants.
Income Taxes	Income Taxes The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 39% to net the loss before provision for income taxes for the following reasons: December 31, December 31, 2015 2014 Income tax expense at statutory rate $ (1,669,711 ) $ (1,913,997 ) Contributed services Stock issued for services 218,584 576,373 Depreciation and amortization 17,256 10,871 Change in valuation allowance 1,433,871 1,326,753 Income tax expense per books $ -0- $ -0- Net deferred tax assets consist of the following components as of: December 31, December 31, 2015 2014 NOL carryover $ 4,544,810 $ 2,875,099 Common stock issued for services (794,957 ) (576,373 ) Depreciation (33,789 ) (16,533 ) Valuation allowance (3,716,064 ) (2,282,193 ) Net deferred tax asset $ -0- $ -0- Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of $4,544,810 for federal income tax reporting purposes are subject to annual limitations. When a change in ownership occurs, net operating loss carry forwards may be limited as to use in future years.
Earnings (Loss) per Share	Earnings (Loss) per Share The Company has adopted ASC 260, “Earnings Per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures, and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. The Company has potentially dilutive securities, comprised of 41,715,152 warrants and 10,375,000 options issued as of December 31, 2015. Only 17,272,300 warrants were outstanding on December 31, 2014.
Comprehensive Loss	Comprehensive Loss Other comprehensive loss, which includes only foreign currency translation adjustments, is shown in the Statement of Changes in Stockholder’s Equity.
Foreign Currency Translation	Foreign Currency Translation Foreign denominated assets and liabilities of the Company are translated into U.S. dollars at the prevailing exchange rates in effect at the end of the reporting period. Income statement accounts are translated at a weighted average of exchange rates which were in effect during the period. Translation adjustments that arise from translating the foreign subsidiary’s financial statements from local currency to U.S. currency are recorded in the other comprehensive loss component of stockholders’ equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has evaluated recent accounting pronouncements and their adoption has not had nor is not expected to have a material impact on the Company’s financial position or statements.
Accounting Basis	Accounting Basis The basis is accounting principles generally accepted in the United States of America. The Company has adopted a December 31 fiscal year end.

SUMMARY OF SIGNIFICANT ACCOUN16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of provision for income taxes	December 31, December 31, 2015 2014 Income tax expense at statutory rate $ (1,669,711 ) $ (1,913,997 ) Contributed services Stock issued for services 218,584 576,373 Depreciation and amortization 17,256 10,871 Change in valuation allowance 1,433,871 1,326,753 Income tax expense per books $ -0- $ -0-
Schedule of Components of net deferred tax assets	December 31, December 31, 2015 2014 NOL carryover $ 4,544,810 $ 2,875,099 Common stock issued for services (794,957 ) (576,373 ) Depreciation (33,789 ) (16,533 ) Valuation allowance (3,716,064 ) (2,282,193 ) Net deferred tax asset $ -0- $ -0-

PROPERTY & EQUIPMENT AND CAPI17

PROPERTY & EQUIPMENT AND CAPITAL LEASE OBLIGATION (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	December 31, December 31, 2015 2014 Lab Equipment $ 271,040 $ 185,639 Less: Accumulated Depreciation (86,638 ) (42,393 ) Property and Equipment, Net $ 184,402 $ 143,246

COMMITMENTS AND CONTINGENT LI18

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of minimum annual lease commitments under non-cancelable operating leases	Year Amount 2016 $ 79,598 2017 35,690 Thereafter 0 Total Minimum Lease Payments $ 115,288

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Summarizes warrants that are issued, outstanding and exercisable	Number of Weighted Weighted Expiration Date (years) Value if Balance Dec 31, 2014 17,272,300 $ 0.149 $ 0.101 4.38 $ 2,581,825 Granted 24,442,852 0.014 0.016 4.25 $ 381,011 Exercised - - 0.18 - - Cancelled/Expired - - - - - Outstanding as of Dec 31, 2015 41,715,152 $ 0.070 $ 0.051 4.14 $ 2,912,836 Warrants Issued & Outstanding Exercise Expiration December 31, December 31, Price Date 2015 2014 $ 0.25 March 14, 2019 3,495,000 3,495,000 $ 0.25 March 21, 2019 3,480,000 3,480,000 $ 0.25 June 6, 2019 2,022,300 2,022,300 $ 0.05 October 16, 2019 150,000 150,000 $ 0.04 December 29, 2019 8,125,000 8,125,000 $ 0.04 January 05, 2020 8,146,225 - $ 0.04 August 19, 2020 125,000 - $ 0.00001 October 6, 2020 16,171,627 - 41,715,152 17,272,300

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Income tax expense at statutory rate	$ (1,669,711)	$ (1,913,997)
Contributed services
Stock issued for services	218,584	576,373
Depreciation and amortization	17,256	10,871
Change in valuation allowance	1,433,871	1,326,753
Income tax expense per books

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
NOL carryover	$ 4,544,810	$ 2,875,099
Common stock issued for services	(794,957)	(576,373)
Depreciation	(33,789)	(16,533)
Valuation allowance	(3,716,064)	(2,282,193)
Net deferred tax asset	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Depreciation method	Straight-line method
Estimated useful life of equipment	5 years
Statutory federal income tax rate	39.00%
Net operating loss carry forwards for federal tax purposes	$ 4,544,810
Potentially dilutive securities comprised warrant issued	41,715,152
Potentially dilutive securities comprised options issued	10,375,000
Warrants Issued & Outstanding	41,715,152	17,272,300

GOING CONCERN (Detail Textuals)

GOING CONCERN (Detail Textuals) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Going Concern [Abstract]
Accumulated deficit	$ 11,653,520	$ 7,372,210

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Expenses paid on the Company's behalf by a related party	$ (5,431)	$ 4,937
Advanced cash received	310,825	190,880
Repayment of related party loan	3,199	87,536
Accrued interest to related parties	292,769	182,845
Interest expense	109,924	88,879
Balance of accrued liabilities related party	732,125	388,675
Notes payable - related parties
Related Party Transaction [Line Items]
Expenses paid on the Company's behalf by a related party	2,337	4,938
Advanced cash received	310,825	190,880
Accrued interest to related parties	292,769	182,845
Interest expense	$ 109,954	88,879
Minimum
Related Party Transaction [Line Items]
Annual interest rate	5.00%
Market price (in dollars per share)	$ 0.0286
Maximum
Related Party Transaction [Line Items]
Annual interest rate	10.00%
Market price (in dollars per share)	$ 0.01
CEO
Related Party Transaction [Line Items]
Executive compensation expense	$ 424,550	359,749
Accrued liabilities related party	831,250	$ 1,382,207
President
Related Party Transaction [Line Items]
Office space monthly rate per month	$ 2,742

PROPERTY & EQUIPMENT AND CAPI25

PROPERTY & EQUIPMENT AND CAPITAL LEASE OBLIGATION (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Lab Equipment	$ 271,040	$ 185,639
Less: Accumulated Depreciation	(86,638)	(42,393)
Property and Equipment, Net	$ 184,402	$ 143,246

PROPERTY & EQUIPMENT AND CAPI26

PROPERTY & EQUIPMENT AND CAPITAL LEASE OBLIGATION (Detail textuals) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 25, 2015	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Capital lease term of agreement	60 months
Capital leases monthly rate	$ 1,797
Advance payment	21,000
Capital leases minimum lease payments	107,822
Present value of minimum lease payments	$ 64,401
Incremental borrowing rate	24.46%
Payment of principal for capital lease obligation		$ 5,885
Capital lease obligations		$ 58,516
Purchase of additional equipment for cash			$ 99,823
Estimated useful life of equipment		5 years
Depreciation expense		$ 44,245	27,875
Property & Equipment, net		$ 184,402	$ 143,246

SALES TAX RECOVERABLE (Detail T

SALES TAX RECOVERABLE (Detail Textuals) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Sales tax recoverable	$ 79,681	$ 53,208

COMMITMENTS AND CONTINGENT LI28

COMMITMENTS AND CONTINGENT LIABILITIES (Details)	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 79,598
2,017	35,690
Thereafter	0
Total Minimum Lease Payments	$ 115,288

COMMITMENTS AND CONTINGENT LI29

COMMITMENTS AND CONTINGENT LIABILITIES (Detail textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Oct. 14, 2016
Loss Contingencies [Line Items]
Lease expense	$ 84,904	$ 123,319
Affiliates | Patent Assignment Agreement
Loss Contingencies [Line Items]
Accrued liabilities related party	$ 170,000
Subsequent Event | Affiliates | Patent Assignment Agreement
Loss Contingencies [Line Items]
Accrued liabilities related party			$ 376,400
Annual interest rate			10.00%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Number of Warrants
Balance Dec 31, 2014	17,272,300
Granted	24,442,852
Exercised
Cancelled/Expired
Outstanding as of Dec 31, 2015	41,715,152	17,272,300
Weighted Average Exercise Price Granted
Balance Dec 31, 2014	$ 0.149
Granted	0.014
Exercised
Cancelled/Expired
Outstanding as of Dec 31, 2015	0.070	$ 0.149
Weighted Average Grant Date Fair Value
Balance Dec 31, 2014	0.101
Granted	0.016
Exercised	0.18
Cancelled/Expired
Outstanding as of Dec 31, 2015	$ 0.051	$ 0.101
Expiration Date (years) Outstanding	4 years 3 months	4 years 4 months 17 days
Expiration Date (years) Granted	4 years 1 month 21 days
Value if Exercised
Balance Dec 31, 2014	$ 2,581,825
Granted	381,011
Exercised
Cancelled/Expired
Outstanding as of Dec 31, 2015	$ 2,912,836	$ 2,581,825

STOCKHOLDERS' EQUITY (Detail 1)

STOCKHOLDERS' EQUITY (Detail 1) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Warrants Issued & Outstanding	41,715,152	17,272,300
March 14, 2019
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.25	$ 0.25
Warrants Issued & Outstanding	3,495,000	3,495,000
March 21, 2019
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.25	$ 0.25
Warrants Issued & Outstanding	3,480,000	3,480,000
June 6, 2019
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.25	$ 0.25
Warrants Issued & Outstanding	2,022,300	2,022,300
October 16, 2019
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.05	$ 0.05
Warrants Issued & Outstanding	150,000	150,000
December 29, 2019
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.04	$ 0.04
Warrants Issued & Outstanding	8,125,000	8,125,000
January 05, 2020
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.04	$ 0.04
Warrants Issued & Outstanding	8,146,225
August 19, 2020
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.04	$ 0.04
Warrants Issued & Outstanding	125,000
October 6, 2020
Class of Warrant or Right [Line Items]
Exercise Price	$ 0.00001	$ 0.00001
Warrants Issued & Outstanding	16,171,627

STOCKHOLDERS' EQUITY (Detail Te

STOCKHOLDERS' EQUITY (Detail Textuals)	3 Months Ended				12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)Officer$ / shares$ / CommonStock_Warrantshares	Jun. 30, 2015USD ($)OfficerDirector$ / sharesshares	Mar. 31, 2015USD ($)Director$ / shares$ / CommonStock_Warrantshares	Dec. 31, 2015$ / sharesshares	Dec. 31, 2014shares	Sep. 15, 2014shares
Stockholders Equity Note [Line Items]
Total number of shares of authorized capital stock							500,000,000
Common stock, shares authorized	450,000,000				450,000,000	450,000,000	450,000,000
Preferred stock, shares authorized	50,000,000				50,000,000	50,000,000	50,000,000
Shares issued for services rendered (in shares)		1,500,000
Price per share | $ / shares		$ 0.014
Employee and Consultant
Stockholders Equity Note [Line Items]
Shares issued for services rendered (in shares)				15,250,000
Price per share | $ / shares				$ 0.0286
Consultant
Stockholders Equity Note [Line Items]
Shares issued for services rendered (in shares)				3,700,000
Price per share | $ / shares				$ 0.035
Officer
Stockholders Equity Note [Line Items]
Shares issued for services rendered (in shares)		17,000,000
Price per share | $ / shares		$ 0.01
Entity Number of Employees | Officer		2
Consultants
Stockholders Equity Note [Line Items]
Shares issued for services rendered (in shares)				8,683,333
Price per share | $ / shares				$ 0.033
Accredited investors
Stockholders Equity Note [Line Items]
Units issue price | $ / CommonStock_Warrant		0.04
Number of common stock in each unit		1
Common stock shares issued		125,000
Weighted average life		5 years
Price per share | $ / shares		$ 0.04
Proceeds from issuance of private placement | $		$ 5,000
Common stock and warrant unit
Stockholders Equity Note [Line Items]
Number of units issued				8,146,225
Proceeds from issuance of warrants | $				$ 325,849
Number of directors and members | Director				8
Units issue price | $ / CommonStock_Warrant				0.04
Number of common stock in each unit				1
Common stock shares issued				8,146,225
Number of warrants to purchase common stock				8,146,225
Weighted average life				5 years
Common Stock
Stockholders Equity Note [Line Items]
Proceeds from issuance of warrants | $			$ 436,000
Number of directors and members | Director			8
Common stock shares issued	200,000	41,666,666
Shares issued for services rendered (in shares)	10,000		62,285,718		24,253,333	10,322,233
Price per share | $ / shares	$ 0.10	$ 0.01	$ 0.007		$ 0.10
Proceeds from issuance of private placement | $	$ 20,000	$ 416,667
Common Stock | Consultant
Stockholders Equity Note [Line Items]
Shares issued for services rendered (in shares)		870,000
Price per share | $ / shares		$ 0.014
Common Stock | Officer
Stockholders Equity Note [Line Items]
Shares issued for services rendered (in shares)		5,000,000
Price per share | $ / shares		$ 0.01
Common Stock | Consultants
Stockholders Equity Note [Line Items]
Shares issued for services rendered (in shares)		8,000,000
Price per share | $ / shares		$ 0.013
Common Stock | Director
Stockholders Equity Note [Line Items]
Number of directors and members | Director			1
Shares issued for services rendered (in shares)			15,000,000
Price per share | $ / shares			$ 0.0149
Entity Number of Employees | Officer			2

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textuals 1) - USD ($)	1 Months Ended
	Feb. 28, 2015	Dec. 31, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Warrants Issued & Outstanding		41,715,152	17,272,300
Employee and Consultant | Options
Class of Warrant or Right [Line Items]
Options issue to purchase shares of common stock	10,375,000
Exercise price	$ 0.0286
Total fair value of options at the date of the grant	$ 291,427
Fair value estimation method	Black-Scholes option pricing model
Expected life of option	2 years 6 months
Expected volatility	211.10%
Expected dividends	$ 0
Risk free interest rate	1.02%
Option outstanding remaining life	4 years 29 days
January 05, 2020
Class of Warrant or Right [Line Items]
Warrants Issued & Outstanding		8,146,225
August 19, 2020
Class of Warrant or Right [Line Items]
Warrants Issued & Outstanding		125,000
October 6, 2020
Class of Warrant or Right [Line Items]
Warrants Issued & Outstanding		16,171,627

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - $ / shares	1 Months Ended	3 Months Ended
	Feb. 29, 2016	Sep. 30, 2015	Mar. 31, 2015	Jul. 16, 2016
Subsequent Event [Line Items]
Shares issued for services rendered (in shares)		1,500,000
Price per share		$ 0.014
Consultant
Subsequent Event [Line Items]
Shares issued for services rendered (in shares)			3,700,000
Price per share			$ 0.035
Subsequent Event
Subsequent Event [Line Items]
Number of warrants to purchase common stock				550,251
Total shares issued				550,000
Subsequent Event | Consultant
Subsequent Event [Line Items]
Shares issued for services rendered (in shares)	23,400,000
Price per share	$ 0.03