Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 14, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | EAST COAST DIVERSIFIED CORP | |
Entity Central Index Key | 1,256,540 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 12,409,117,071 | |
Trading Symbol | ECDC | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,015 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash | $ 16,334 | |
Accounts receivable, net | $ 334,263 | 185,342 |
Inventory | 183,038 | 250,643 |
Prepaid license fees | 12,500 | 37,500 |
Prepaid expenses | 1,177 | 90,956 |
Total current assets | 530,978 | 580,775 |
Property and equipment, net | 23,722 | 25,827 |
Other assets | ||
Intangible assets | 700,000 | 150,000 |
Security deposits | 20,000 | 20,000 |
Total other assets | 720,000 | 170,000 |
Total assets | 1,274,700 | 776,602 |
Current liabilities | ||
Bank overdraft | 4,124 | 5,725 |
Loans payable, current | 1,248,387 | 861,296 |
Loans payable - related parties, current | 738,837 | $ 721,075 |
Due to related party | 368,617 | |
Accounts payable and accrued expenses | 837,156 | $ 1,034,734 |
Accrued payroll and related liabilities | 3,782,331 | 2,919,505 |
Deferred revenue | 73,328 | 83,330 |
Total current liabilities | $ 7,052,780 | $ 5,625,665 |
Other liabilities | ||
Total liabilities | $ 7,052,780 | $ 5,625,665 |
Commitments and contingencies: | ||
Amounts payable in common stock | $ 2,925 | $ 2,925 |
Derivative liability | 1,575 | 1,575 |
Stockholders' deficit | ||
Common stock, $0.001 par value, 24,400,000,000 shares authorized, 12,409,117,071 and 12,409,117,071 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively | 12,409,117 | 12,409,117 |
Additional paid-in capital | 5,714,716 | 5,714,716 |
Preferred stock issuable | 17,500 | 17,500 |
Preferred stock subscriptions receivable | (1,087,498) | (1,087,498) |
Accumulated deficit | (22,820,162) | (21,926,354) |
Total East Coast Diversified stockholders' deficit | (5,342,888) | (4,449,080) |
Noncontrolling interest | (439,692) | (404,483) |
Total stockholders' deficit | (5,782,580) | (4,853,563) |
Total liabilities and stockholders' deficit | 1,274,700 | 776,602 |
Series A Preferred Stock [Member] | ||
Stockholders' deficit | ||
Preferred stock | 423,437 | 423,437 |
Series B Preferred Stock [Member] | ||
Stockholders' deficit | ||
Preferred stock | $ 2 | $ 2 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2015 | Dec. 31, 2014 |
Preferred stock par value | $ 0.001 | |
Preferred stock shares authorized | 600,000,000 | |
Common stock par value | $ 0.001 | |
Common stock shares authorized | 24,400,000,000 | |
Common stock shares issued | 12,409,117,071 | 12,409,117,071 |
Common stock shares oustanding | 12,409,117,071 | 12,409,117,071 |
Series A Preferred Stock [Member] | ||
Preferred stock shares issued | 423,437,090 | |
Preferred stock shares outstanding | 423,437,090 | |
Series B Preferred Stock [Member] | ||
Preferred stock shares issued | 2,169 | |
Preferred stock shares outstanding | 2,169 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenues: | ||||
Product sales | $ 72,312 | $ 45,858 | $ 204,906 | $ 54,627 |
License Fees | 5,001 | $ 5,001 | 10,002 | $ 6,668 |
Consulting and development | 70,000 | 120,000 | ||
Advertising revenue | 1,022 | |||
User fees | 9,606 | $ 7,441 | 19,086 | $ 15,112 |
Total revenues | 156,919 | 58,300 | 355,016 | 76,407 |
Cost of revenues: | ||||
Product sales | 37,100 | 28,071 | 118,366 | 31,660 |
User fees | 10,634 | 9,645 | 17,803 | 13,075 |
Selling, general and administrative expense | 416,168 | 318,072 | 1,056,636 | 732,731 |
Total operating expenses | 463,902 | 355,788 | 1,192,805 | 777,466 |
Loss from operations | (306,983) | (297,488) | (837,789) | (701,059) |
Other income (expense) | ||||
Interest expense | $ (36,273) | (107,522) | $ (91,228) | (216,320) |
Change in derivative liability | 63,700 | 63,700 | ||
Total other income (expense) | $ (36,273) | (43,822) | $ (91,228) | (152,620) |
Net loss from continuing operations | (343,256) | (341,310) | (929,017) | (853,679) |
Net loss attributable to noncontrolling interests | 6,451 | 4,245 | 35,209 | 8,737 |
Net loss attributable to East Coast Diversified Corporation | $ (336,805) | $ (337,065) | $ (893,808) | (844,942) |
Net income from discontinued operations, net of tax | 984,115 | |||
Total net loss after discontinued operations | $ (336,805) | $ (337,065) | $ (893,808) | $ 139,173 |
Net loss per share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding during the period - basic and diluted | 12,409,117,071 | 10,510,546,241 | 12,409,117,071 | 7,248,045,703 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (893,808) | $ 139,173 |
Adjustments to reconcile net income (loss) to net cash used in operations: | ||
Noncontrolling interests | (35,209) | (8,737) |
Depreciation and amortization | $ 6,651 | 1,391 |
Stock issued for services and compensation | 2,096 | |
Amortization of prepaid license fee | $ 25,000 | 25,000 |
Gain on disposal of discontinued operations | (984,115) | |
Accretion of beneficial conversion feature on convertible notes payable as interest | $ 27,340 | 188,303 |
Change in derivative liability | 63,700 | |
Interest accrued on loans payable | $ 38,902 | 28,018 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (196,921) | (75,912) |
Inventory | 67,605 | 7,573 |
Prepaid expenses | $ 89,779 | (603) |
Security deposits | 4,592 | |
Bank overdraft, net | $ (1,601) | 4,777 |
Due to related party | (10,120) | |
Accounts payable and accrued expenses | $ (197,578) | 14,651 |
Accrued payroll and related liabilities | 862,826 | $ 228,714 |
Due to related party | (181,383) | |
Deferred revenue | (10,002) | $ 93,332 |
Net cash used in operating activities | (398,399) | $ (405,567) |
Cash flows from investing activities: | ||
Capital expenditures | (4,546) | |
Net cash used in investing activities | $ (4,546) | |
Cash flows from financing activities: | ||
Proceeds from issuance of preferred stock | $ 95,000 | |
Proceeds from preferred stock subscriptions | 64,000 | |
Proceeds from loans payable | $ 385,800 | 97,850 |
Proceeds from loans payable - related party | 811 | 152,142 |
Net cash from financing activities | 386,611 | 408,992 |
Net increase (decrease) in cash | (16,334) | 3,425 |
Cash at beginning of period | $ 16,334 | 241 |
Cash at end of period | $ 3,666 | |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | ||
Cash paid for taxes | ||
Non-cash investing and financing activities: | ||
Renewal of perpetual technology license agreement | $ 550,000 | |
Issuance of 7,674,970,146 shares of common stock in conversion of loans payable, respectively | $ 428,418 | |
Issuance of 17,000,000 shares of Series A preferred stock in conversion of loans payable | 34,000 | |
Issuance of 675,304,000 shares of common stock in conversion of loans payable - related parties | 20,808 | |
Issuance of 15,000,000 shares of common stock previously held as common stock issuable | 4,500 | |
Issuance of 63,449,999 shares of Series A preferred stock previously held as preferred stock issuable | 147,000 | |
Issuance of 1,820,000,000 shares of common stock in settlement of loans and accounts payable converted to Amounts payable in common stock, respectively | 118,300 | |
Beneficial conversion feature of convertible notes payable | $ 215,390 |
Consolidated Statements of Cas6
Consolidated Statements of Cash Flows (Parenthetical) - shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Number of common stock issuance in convertible loan payable | 1,820,000,000 | |
Number of stock issuance in convertible loan payable to related parties | 675,304,000 | |
Number of common stock held as common stock issuable | 15,000,000 | |
Number of shares held as preferred stock issuable | 63,449,999 | |
Common Stock [Member] | ||
Number of common stock issuance in convertible loan payable | 7,674,970,146 | |
Series A Preferred Stock [Member] | ||
Number of common stock issuance in convertible loan payable | 17,000,000 | |
Number of stock issuance in convertible loan payable to related parties |
Organiztion, Presentation, and
Organiztion, Presentation, and Going Concern | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organiztion, Presentation, and Going Concern | Note 1 Organization, Presentation, and Going Concern Organization East Coast Diversified Corp. (the Company) was incorporated in Florida on May 27, 1994 as Plantastic Corp. In June 2003, the Company changed its name to East Coast Diversified Corporation from Lifekeepers International, Inc. and changed its domicile to Nevada. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America (U.S. GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and footnotes required in annual financial statements. In the opinion of management, the unaudited financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the financial position and results of operations and cash flows. All intercompany transactions and accounts have been eliminated in consolidation. The results of operations presented are not necessarily indicative of the results to be expected for any other interim period or for the entire year. These unaudited consolidated financial statements should be read in conjunction with our 2014 audited annual financial statements included in our annual report on Form 10-K, filed with the SEC on April 15, 2015. Going Concern The accompanying unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the accompanying unaudited consolidated financial statements, the Company had an accumulated deficit of $22,820,162 at June 30, 2015, a net loss and net cash used in operations of $893,808 and $398,399, respectively, for the six months ended June 30, 2015. These conditions raise substantial doubt about the Companys ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the Companys ability to further implement its business plan, generate revenues, and continue to raise additional investment capital. No assurance can be given that the Company will be successful in these efforts. The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans will afford the Company the opportunity to continue as a going concern. |
Loans Payable
Loans Payable | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Loans Payable | Note 2 Loans Payable Loans payable at June 30, 2015 and December 31, 2014 consist of the following: June 30, 2015 December 31, 2014 On February 17, 2012, Panache Capital, LLC entered into an agreement to purchase $50,000 of the note payable to Azfar Haque. The Company exchanged the original note to Mr. Haque with a new note to Pananche which bears interest at 10% per annum and was due February 17, 2013. During the year ended December 31, 2012, $44,348 of the note was converted to common stock. Accrued interest is equal to $2,242 and $1,962 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 7,894 7,614 Unsecured $70,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and due was October 24 2013. Accrued interest is equal to $28,837 and $24,672 at June 30, 2015 and December 31, 2014, resepctively. This note is in default at June 30, 2015. 98,837 94,672 June 30, 2015 December 31, 2014 Unsecured $16,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due May 3, 2013. Accrued interest is equal to $6,196 and $5,244 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 22,196 21,244 Unsecured $12,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due February 5, 2013. During the year ended December 31, 2013, $6,210 of the note was converted to common stock. Accrued interest is equal to $3,011 and $2,667 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 8,801 8,457 Unsecured $15,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due March 26, 2013. Accrued interest is equal to $5,363 and $4,470 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 20,363 19,470 Unsecured $39,647 note payable to Azfar Hague, which bears interest at 9% per annum and was due April 25, 2013. $20,000 of this note was purchased by Tangiers Investment Group, LLC on July 26, 2013. During the year ended December 31, 2014, $9,000 of the note was converted to common stock. Accrued interest is equal to $4,918 and $4,443 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 15,565 15,090 Unsecured $3,000 note payable to Andre Fluellen, which calls for flat interest of $500 at maturity and was due December 1, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 3,500 Unsecured $3,000 note payable to Andre Fluellen, which calls for flat interest of $150 at maturity and was due February 22, 2014. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 3,150 Unsecured $14,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and is due May 5, 2014. The note is discounted for its unamortized beneficial conversion feature of $6,202 at December 31, 2013. Accrued interest is equal to $2,195 and $1,620 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 16,695 16,120 Unsecured $8,500 note payable to Bulldog Insurance, which bears interest at 5% per annum and due February 28, 2014. During the year ended December 31, 2014, $3,000 of the note was converted to common stock. Accrued interest is equal to $574 and $437 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 6,074 5,937 Unsecured $5,000 convertible note payable to WHC Capital, LLC., which bears interest at 8% per annum and was due August 12, 2014. The note is discounted for its unamortized beneficial conversion feature of $3,068 at December 31, 2013. Accrued interest is equal to $756 and $557 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 5,756 5,557 June 30, 2015 December 31, 2014 Unsecured $7,700 convertible note payable to Andre Fluellen, which calls for flat interest of $770 due at maturity and was due June 21, 2014. Accrued interest is equal to $1,177 at December 31, 2014. This note, including accrued interest of $1,559, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,877 Unsecured $3,450 non-interest bearing note payable to Azfar Hague due September 20, 2014. This note is in default at June 30, 2015. 3,450 3,450 Unsecured $2,000 non-interest bearing note payable to Bulldog Insurance due September 26, 2014. This note is in default at June 30, 2015. 2,000 2,000 Unsecured $29,000 convertible note payable to LG Capital Funding, LLC., which bears interest at 8% per annum and was due March 17, 2015. The note is discounted for its unamortized beneficial conversion feature of $6,039 at December 31, 2014. Accrued interest is equal to $2,987 and $1,837 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 31,987 24,798 Unsecured $18,000 convertible note payable to Tangiers Investment Group, LLC., which bears interest at 8% per annum and is due March 27, 2015. The note is discounted for its unamortized beneficial conversion feature of $4,241 at December 31, 2014. Accrued interest is equal to $1,815 and $1,101 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 19,815 14,860 Unsecured $6,000 note payable to Andre Fluellen, which bears interest at 10% per annum and is due June 21, 2015. Accrued interest is equal to and $317 at December 31, 2014. This note, including accrued interest of $615, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 6,317 Unsecured $10,000 note payable to Falmouth Street Holdings, LLC, which bears interest at 10% per annum and is due on demand. Accrued interest is equal to $1,222 and $726 at June 30, 2015 and December 31, 2014, respectively. 11,222 10,726 On April 9, 2014, GEL Properties, LLC entered into an agreement to purchase $24,000 of notes payable to Frank Russo. The note bears interest at 8% per annum and is due April 9, 2015. During the year ended December 31, 2014, $16,500 of the note was converted to common stock. The note is discounted for its unamortized beneficial conversion feature of $2,015 at December 31, 2014. Accrued interest is equal to $1,031 and $733 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 8,531 6,218 Unsecured $5,000 note payable to Israek Idonije, which is noninterest bearing and was due July 3, 2014. During the year ended December 31, 2014, $2,800 was repaid on the loan and $3,674 and $1,986 of penalty interest was accrued at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 4,404 4,186 June 30, 2015 December 31, 2014 Unsecured $35,000 convertible note payable to Lucosky Brookman LLP, which bears interest at 12% per annum and due on demand. Accrued interest is equal to $9,676 and $7,593 at June 30, 2105 and December 31, 2014, respectively. 44,676 42,593 Unsecured $43,922 convertible note payable to Lucosky Brookman LLP, which bears interest at 12% per annum and due on demand. Accrued interest is equal to $12,140 and $9,526 at June 30, 2015 and December 31, 2014, respectively. 56,062 53,448 Unsecured $32,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and was due January 31, 2014. During the year ended December 31, 2014, $7,988 of the note was converted to common stock. Accrued interest is equal to $4,932 and $3,959 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 29,444 28,471 Unsecured $7,000 note payable to Andre Fluellen, which calls for flat interest of $1,500 at maturity and was due October 30, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,500 Unsecured $20,000 convertible note payable to WHC Capital, LLC., which bears interest at 8% per annum and was due March 9, 2014. Accrued interest is equal to $3,433 and $2,639 at June 30, 2015 and December 31, 2014. This note is in default at June 30, 2015. 23,433 22,639 Unsecured $32,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and was due March 3, 2014. During the year ended December 31, 2014, $7,500 of the note was converted to common stock. Accrued interest is equal to $4,754 and $3,762 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 29,754 28,762 Unsecured $7,500 note payable to Andre Fluellen, which calls for flat interest of $1,400 at maturity and was due December 1, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,900 On May 7, 2014, LG Capital Funding, LLC entered into an agreement to purchase $40,000 of notes payable to Frank Russo. The note bears interest at 8% per annum and is due May 7, 2015. The note is discounted for its unamortized beneficial conversion feature of $13,917 at December 31, 2014. Accrued interest is equal to $3,674 and $2,087 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 43,674 28,170 Unsecured $12,5000 convertible note payable to Microcap Equity Group LLC, which bears interest at 12% per annum and was due October 8, 2014. Accrued interest is equal to $1,841 and $1,097 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 14,341 13,597 June 30, 2015 December 31,2014 Unsecured $4,200 convertible note payable to Tangiers Investment Group, LLC., which bears interest at 8% per annum and is due April 8, 2015. The note is discounted for its unamortized beneficial conversion feature of $1,128 at December 31, 2014. Accrued interest is equal to $413 and $246 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 4,613 3,318 Unsecured loan advances payable to Health Information Systems Fund, LLC, which bear no interest and are due on demand. 718,800 333,000 Unsecured $5,000 note payable to Andre Fluellen, which bears interest at 10% per annum and is due September 9, 2015. Accrued interest is equal to $155 at and December 31, 2014. This note, including accrued interest of $403, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 5,155 Unsecured $2,500 note payable to Andre Fluellen, which bears interest at 10% per annum and is due October 20, 2015. This note, including accrued interest of $173, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 2,500 Total Loans Payable $ 1,248,387 $ 861,296 The Company accrued interest expense of $21,951 and $14,261 for the six months ended June 30, 2015 and 2014, respectively, on the above loans. Accrued interest is included in the loan balances. The Company borrowed $385,800 and $97,850 during the six months ended June 30, 2015 and 2014, respectively. During the six months ended June 30, 2015, the Company settled $48,000 of loans payable against outstanding accounts receivable. During the six months ended June 30, 2014, the Company converted $428,418 of loans payable into 7,674,970,146 shares of the Companys common stock and $34,000 of loans payable into 17,000,000 shares of the Companys Series A preferred stock. |
Related Parties
Related Parties | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Parties | Note 3 Related Parties Loans payable related parties at June 30, 2015 and December 31, 2014 consist of the following: June 30, 2015 December 31, 2014 Unsecured non-interest bearing notes payable, due on demand, to Frank Russo, a shareholder and former Director of the Company. During the year ended December 31, 2014, Mr. Russo loaned the Company an additional $28,800, $20,808 of the note was converted to common stock, and $144,000 was purchased by four unrelated parties. $ 165,421 $ 165,421 Unsecured notes payable to Edward Eppel, a shareholder and Director of the Company, which bears interest at 10% per annum and is due on demand. During the six months ended June 30, 2015, Mr Eppel loaned the Company an additional $811. Accrued interest is equal to $81,070 and $73,803, respectively. 264,481 256,403 Unsecured $20,000 note payable to Robert Saidel, a shareholder of the Company, which bears interest at 7% per annum and due December 1, 2013. Accrued interest is equal to $2,947 and $2,253 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 22,947 22,253 June 30, 2015 December 31, 2014 Unsecured $7,500 note payable to Robert Saidel, which bears interest at 7% per annum and due January 8, 2014. Accrued interest is equal to $1,039 and $779 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 8,539 8,279 Unsecured $10,000 note payable to Robert Saidel, which bears interest at 7% per annum and due February 16, 2014. Accrued interest is equal to $1,312 and $964 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 11,312 10,964 Unsecured $4,000 note payable to Robert Saidel, which bears interest at 7% per annum and due March 9, 2014. Accrued interest is equal to $508 and $369 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 4,508 4,369 Unsecured $137,833 note payable to Robert Saidel, which bears interest at 7% per annum and due April 25, 2014. Accrued interest is equal to $16,000 and $11,216 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 153,833 149,049 Unsecured $10,000 note payable to Robert Saidel, which bears interest at 7% per annum and due February 28, 2015. Accrued interest is equal to $929 and $581 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 10,929 10,581 Unsecured $20,000 note payable to Frank Russo, which bears interest at 7% per annum and was due April 3, 2015. Accrued interest is equal to $2,172 and $1,304 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 27,172 26,304 Unsecured $63,250 notes payable to Frank Russo, which bear interest at 7% per annum and was due May 1, 2015 through June 25, 2015. Accrued interest is equal to $5,024 and $2,828 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 68,274 66,078 Unsecured $1,350 note payable to Frank Russo, which bears interest at 7% per annum and was due May 30, 2015. Accrued interest is equal to $71 and $24 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 1,421 1,374 Total loans payable - related parties $ 738,837 $ 721,075 The Company accrued interest expense of $16,951 and $13,757 for the six months ended June 30, 2015 and 2014, respectively, on the above loans. Accrued interest is included in the loan balances. The Company borrowed $811 and $63,313 from related parties during the six months ended June 30, 2015 and 2014, respectively. During the six months ended June 30, 2014, the Company converted $20,808 of loans payable to related parties into 675,304,000 shares of the Companys common stock. On October 5, 2011, the Company entered into a license with BBGN&K LLC (BBGN&K) for the rights to use certain patented technologies of which BBGN&K owns the patents. Mr. Aladesuyi is the managing member of BBGN&K. The license agreement calls for royalty payments beginning in 2012 of 8% of the Companys revenues to be paid quarterly. Royalty fees were $37,689 and $3,236 for the six months ended June 30, 2015 and 2014, respectively. On May 14, 2015, the Company and BBGN&K agreed to extend the license agreement under the following terms: a) the term of the agreement is in perpetuity, b) royalties shall be 8% of the Companys revenue in the continental Unites States and 30% of revenue outside the continental Unites States, and c) the Company shall pay a one-time renewal fee of $550,000. As of June 30, 2015, the Company has paid $181,383 of the renewal fee leaving a balance of $368,617 as due to related party. |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses; Accrued Payroll and Related Liabilities | 6 Months Ended |
Jun. 30, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Expenses; Accrued Payroll and Related Liabilities | Note 4 Accounts Payable and Accrued Expenses; Accrued Payroll and Related Liabilities Accounts payable and accrued expenses consisted of the following at June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 Trade accounts payable $ 594,747 $ 554,475 Interest payable 32,781 291,400 Accrued expenses 209,628 188,859 $ 837,156 $ 1,034,734 $12,504 and $-0- of interest was accrued on payroll tax liabilities during the six months ended June 30, 2015 and 2014, respectively. Accrued payroll and related liabilities consisted of the following at June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 Accrued payroll $ 878,629 $ 658,629 Accrued directors compensation 530,000 470,000 Accrued payroll taxes 2,373,702 1,790,876 $ 3,782,331 $ 2,919,505 |
Amounts Payable in Common Stock
Amounts Payable in Common Stock and Derivative Liability | 6 Months Ended |
Jun. 30, 2015 | |
Amounts Payable In Common Stock And Derivative Liability | |
Amounts Payable in Common Stock and Derivative Liability | Note 5 Amounts Payable in Common Stock and Derivative Liability During the year ended December 31, 2012, Ironridge Global IV, Ltd. (Ironridge) purchased $826,367 of accounts payable and $241,978 of loans payable, for a total of $1,068,345, from certain creditors of the Company. On April 20, 2012, the Superior Court of the State of California for the County of Los Angeles, Central District approved a Stipulation for Settlement of Claims (the Settlement of Claims) in the favor of Ironridge. The Settlement of Claims calls for the amount to be paid by issuance of the Companys common stock. The number of shares of the common stock is to be calculated based on the volume weighted average price (VWAP) of the common stock over the calculation period, not to exceed the arithmetic average of the individual daily VWAPs of any five trading days during the calculation period, less a discount of 35%. The calculation period is defined as the period from the approval of the Settlement of Claims until the settlement is completed. As the terms of the settlement include issuing common stock at a 35% discount to the conversion price, a derivative liability for the discount was established at the time of the Settlement of Claims of $575,263. The derivative liability is revalued at the end of each reporting period with any change in the liability being charged to operations. As common stock is issued in installments on the settlement, the Amounts Payable in Common Stock and the Derivative Liability will be reduced accordingly. No common stock was issued on the settlement during the six months ended June 30, 2015. During the six months ended June 30, 2014, 1,820,000,000 shares of common stock, with a market value of $182,000, were issued to Ironridge in settlement of $118,300 of the liability, resulting in the reduction of the derivative liability of $63,700. |
Stockholders' Deficit
Stockholders' Deficit | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Stockholders' Deficit | Note 6 Stockholders Deficit Authorized Capital The Company has 24,400,000,000 authorized shares of Common Stock at $0.001 par value and 600,000,000 authorized shares of Preferred Stock at par value of $0.001 per share. On September 17, 2010, the Board authorized the creation of a common stock incentive plan (the 2010 Stock Incentive Plan) for our management and consultants. The Company registered twenty five million (25,000,000) shares of its common stock pursuant to the 2010 Stock Incentive Plan on Form S-8 filed with the Commission on September 27, 2010. As of June 30, 2015, no options have been granted under the plan. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 7 Commitments and Contingencies Operating Leases The Company leases its office facilities in Marietta, Georgia. The term of the lease is 66 months with escalating lease payments beginning at $2,163 per month. At June 30, 2015, future minimum lease payments under the lease are as follows: 2015 14,183 2016 29,219 2017 15,054 $ 58,456 Rent expense was $17,191 and $15,078 for the six months ended June 30, 2015 and 2014, respectively. License Agreements On October 5, 2011, the Company entered into a license with BBGN&K LLC (BBGN&K) for the rights to use certain patented technologies of BBGN&K. The license agreement calls for royalty payments beginning in 2012 of 8% of the revenue generated from the use of the license, to be paid quarterly. Royalty expense was $37,689 and $3,236 for the six months ended June 30, 2015 and 2014, respectively. On May 14, 2015, the Company and BBGN&K agreed to extend the license agreement under the following terms: a) the term of the agreement is in perpetuity, b) royalties shall be 8% of the Companys revenue in the continental Unites States and 30% of revenue outside the continental Unites States, and c) the Company shall pay a one-time renewal fee of $550,000. On August 5, 2012, the Company entered into a license agreement with Web Asset, LLC (Web Asset) for the rights to use certain social media concept and idea created by Mr. Kayode Aladesuyi. The license agreement calls for royalty payments of 49% of the revenues earned by the Company in its use of the social media concept after the Company has earned its first $2,000,000 of revenue, payable quarterly. No royalty payments have been made as of June 30, 2015. On March 27, 2014, Student Connect entered into an indefinite term master licensing agreement with Location Solutions Telematics LLC (LST), a Dubai based corporation. Under the terms of the agreement, LST is appointed a Master Distributor of the Companys products and granted an exclusive license to sell the products to the private school market in the country of the United Arab Emirates. All advertisement revenue generated will be shared, net of communication costs, 60% to Student Connect and 40% to LST. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 8 Subsequent Events From April 1, 2015 through May 14, 2015, the Company received $64,000 of advances from Health Information Systems Fund, LLC, which bear no interest and are due on demand. The Company has evaluated subsequent events through the date the financial statements were issued and filed with Securities and Exchange Commission. The Company has determined that there are no other events that warrant disclosure or recognition in the financial statements. |
Organization, Presentation, and
Organization, Presentation, and Going Concern (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | Organization East Coast Diversified Corp. (the Company) was incorporated in Florida on May 27, 1994 as Plantastic Corp. In June 2003, the Company changed its name to East Coast Diversified Corporation from Lifekeepers International, Inc. and changed its domicile to Nevada. |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America (U.S. GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and footnotes required in annual financial statements. In the opinion of management, the unaudited financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the financial position and results of operations and cash flows. All intercompany transactions and accounts have been eliminated in consolidation. The results of operations presented are not necessarily indicative of the results to be expected for any other interim period or for the entire year. These unaudited consolidated financial statements should be read in conjunction with our 2014 audited annual financial statements included in our annual report on Form 10-K, filed with the SEC on April 15, 2015. |
Going Concern | Going Concern The accompanying unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the accompanying unaudited consolidated financial statements, the Company had an accumulated deficit of $22,820,162 at June 30, 2015, a net loss and net cash used in operations of $893,808 and $398,399, respectively, for the six months ended June 30, 2015. These conditions raise substantial doubt about the Companys ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the Companys ability to further implement its business plan, generate revenues, and continue to raise additional investment capital. No assurance can be given that the Company will be successful in these efforts. The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans will afford the Company the opportunity to continue as a going concern. |
Loans Payable (Tables)
Loans Payable (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Loan Payable | Loans payable at June 30, 2015 and December 31, 2014 consist of the following: June 30, 2015 December 31, 2014 On February 17, 2012, Panache Capital, LLC entered into an agreement to purchase $50,000 of the note payable to Azfar Haque. The Company exchanged the original note to Mr. Haque with a new note to Pananche which bears interest at 10% per annum and was due February 17, 2013. During the year ended December 31, 2012, $44,348 of the note was converted to common stock. Accrued interest is equal to $2,242 and $1,962 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 7,894 7,614 Unsecured $70,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and due was October 24 2013. Accrued interest is equal to $28,837 and $24,672 at June 30, 2015 and December 31, 2014, resepctively. This note is in default at June 30, 2015. 98,837 94,672 June 30, 2015 December 31, 2014 Unsecured $16,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due May 3, 2013. Accrued interest is equal to $6,196 and $5,244 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 22,196 21,244 Unsecured $12,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due February 5, 2013. During the year ended December 31, 2013, $6,210 of the note was converted to common stock. Accrued interest is equal to $3,011 and $2,667 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 8,801 8,457 Unsecured $15,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due March 26, 2013. Accrued interest is equal to $5,363 and $4,470 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 20,363 19,470 Unsecured $39,647 note payable to Azfar Hague, which bears interest at 9% per annum and was due April 25, 2013. $20,000 of this note was purchased by Tangiers Investment Group, LLC on July 26, 2013. During the year ended December 31, 2014, $9,000 of the note was converted to common stock. Accrued interest is equal to $4,918 and $4,443 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 15,565 15,090 Unsecured $3,000 note payable to Andre Fluellen, which calls for flat interest of $500 at maturity and was due December 1, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 3,500 Unsecured $3,000 note payable to Andre Fluellen, which calls for flat interest of $150 at maturity and was due February 22, 2014. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 3,150 Unsecured $14,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and is due May 5, 2014. The note is discounted for its unamortized beneficial conversion feature of $6,202 at December 31, 2013. Accrued interest is equal to $2,195 and $1,620 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 16,695 16,120 Unsecured $8,500 note payable to Bulldog Insurance, which bears interest at 5% per annum and due February 28, 2014. During the year ended December 31, 2014, $3,000 of the note was converted to common stock. Accrued interest is equal to $574 and $437 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 6,074 5,937 Unsecured $5,000 convertible note payable to WHC Capital, LLC., which bears interest at 8% per annum and was due August 12, 2014. The note is discounted for its unamortized beneficial conversion feature of $3,068 at December 31, 2013. Accrued interest is equal to $756 and $557 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 5,756 5,557 June 30, 2015 December 31, 2014 Unsecured $7,700 convertible note payable to Andre Fluellen, which calls for flat interest of $770 due at maturity and was due June 21, 2014. Accrued interest is equal to $1,177 at December 31, 2014. This note, including accrued interest of $1,559, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,877 Unsecured $3,450 non-interest bearing note payable to Azfar Hague due September 20, 2014. This note is in default at June 30, 2015. 3,450 3,450 Unsecured $2,000 non-interest bearing note payable to Bulldog Insurance due September 26, 2014. This note is in default at June 30, 2015. 2,000 2,000 Unsecured $29,000 convertible note payable to LG Capital Funding, LLC., which bears interest at 8% per annum and was due March 17, 2015. The note is discounted for its unamortized beneficial conversion feature of $6,039 at December 31, 2014. Accrued interest is equal to $2,987 and $1,837 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 31,987 24,798 Unsecured $18,000 convertible note payable to Tangiers Investment Group, LLC., which bears interest at 8% per annum and is due March 27, 2015. The note is discounted for its unamortized beneficial conversion feature of $4,241 at December 31, 2014. Accrued interest is equal to $1,815 and $1,101 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 19,815 14,860 Unsecured $6,000 note payable to Andre Fluellen, which bears interest at 10% per annum and is due June 21, 2015. Accrued interest is equal to and $317 at December 31, 2014. This note, including accrued interest of $615, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 6,317 Unsecured $10,000 note payable to Falmouth Street Holdings, LLC, which bears interest at 10% per annum and is due on demand. Accrued interest is equal to $1,222 and $726 at June 30, 2015 and December 31, 2014, respectively. 11,222 10,726 On April 9, 2014, GEL Properties, LLC entered into an agreement to purchase $24,000 of notes payable to Frank Russo. The note bears interest at 8% per annum and is due April 9, 2015. During the year ended December 31, 2014, $16,500 of the note was converted to common stock. The note is discounted for its unamortized beneficial conversion feature of $2,015 at December 31, 2014. Accrued interest is equal to $1,031 and $733 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 8,531 6,218 Unsecured $5,000 note payable to Israek Idonije, which is noninterest bearing and was due July 3, 2014. During the year ended December 31, 2014, $2,800 was repaid on the loan and $3,674 and $1,986 of penalty interest was accrued at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 4,404 4,186 June 30, 2015 December 31, 2014 Unsecured $35,000 convertible note payable to Lucosky Brookman LLP, which bears interest at 12% per annum and due on demand. Accrued interest is equal to $9,676 and $7,593 at June 30, 2105 and December 31, 2014, respectively. 44,676 42,593 Unsecured $43,922 convertible note payable to Lucosky Brookman LLP, which bears interest at 12% per annum and due on demand. Accrued interest is equal to $12,140 and $9,526 at June 30, 2015 and December 31, 2014, respectively. 56,062 53,448 Unsecured $32,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and was due January 31, 2014. During the year ended December 31, 2014, $7,988 of the note was converted to common stock. Accrued interest is equal to $4,932 and $3,959 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 29,444 28,471 Unsecured $7,000 note payable to Andre Fluellen, which calls for flat interest of $1,500 at maturity and was due October 30, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,500 Unsecured $20,000 convertible note payable to WHC Capital, LLC., which bears interest at 8% per annum and was due March 9, 2014. Accrued interest is equal to $3,433 and $2,639 at June 30, 2015 and December 31, 2014. This note is in default at June 30, 2015. 23,433 22,639 Unsecured $32,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and was due March 3, 2014. During the year ended December 31, 2014, $7,500 of the note was converted to common stock. Accrued interest is equal to $4,754 and $3,762 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 29,754 28,762 Unsecured $7,500 note payable to Andre Fluellen, which calls for flat interest of $1,400 at maturity and was due December 1, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,900 On May 7, 2014, LG Capital Funding, LLC entered into an agreement to purchase $40,000 of notes payable to Frank Russo. The note bears interest at 8% per annum and is due May 7, 2015. The note is discounted for its unamortized beneficial conversion feature of $13,917 at December 31, 2014. Accrued interest is equal to $3,674 and $2,087 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 43,674 28,170 Unsecured $12,5000 convertible note payable to Microcap Equity Group LLC, which bears interest at 12% per annum and was due October 8, 2014. Accrued interest is equal to $1,841 and $1,097 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 14,341 13,597 June 30, 2015 December 31,2014 Unsecured $4,200 convertible note payable to Tangiers Investment Group, LLC., which bears interest at 8% per annum and is due April 8, 2015. The note is discounted for its unamortized beneficial conversion feature of $1,128 at December 31, 2014. Accrued interest is equal to $413 and $246 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 4,613 3,318 Unsecured loan advances payable to Health Information Systems Fund, LLC, which bear no interest and are due on demand. 718,800 333,000 Unsecured $5,000 note payable to Andre Fluellen, which bears interest at 10% per annum and is due September 9, 2015. Accrued interest is equal to $155 at and December 31, 2014. This note, including accrued interest of $403, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 5,155 Unsecured $2,500 note payable to Andre Fluellen, which bears interest at 10% per annum and is due October 20, 2015. This note, including accrued interest of $173, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 2,500 Total Loans Payable $ 1,248,387 $ 861,296 |
Related Parties (Tables)
Related Parties (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Parties Loan Payable | Loans payable related parties at June 30, 2015 and December 31, 2014 consist of the following: June 30, 2015 December 31, 2014 Unsecured non-interest bearing notes payable, due on demand, to Frank Russo, a shareholder and former Director of the Company. During the year ended December 31, 2014, Mr. Russo loaned the Company an additional $28,800, $20,808 of the note was converted to common stock, and $144,000 was purchased by four unrelated parties. $ 165,421 $ 165,421 Unsecured notes payable to Edward Eppel, a shareholder and Director of the Company, which bears interest at 10% per annum and is due on demand. During the six months ended June 30, 2015, Mr Eppel loaned the Company an additional $811. Accrued interest is equal to $81,070 and $73,803, respectively. 264,481 256,403 Unsecured $20,000 note payable to Robert Saidel, a shareholder of the Company, which bears interest at 7% per annum and due December 1, 2013. Accrued interest is equal to $2,947 and $2,253 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 22,947 22,253 June 30, 2015 December 31, 2014 Unsecured $7,500 note payable to Robert Saidel, which bears interest at 7% per annum and due January 8, 2014. Accrued interest is equal to $1,039 and $779 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 8,539 8,279 Unsecured $10,000 note payable to Robert Saidel, which bears interest at 7% per annum and due February 16, 2014. Accrued interest is equal to $1,312 and $964 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 11,312 10,964 Unsecured $4,000 note payable to Robert Saidel, which bears interest at 7% per annum and due March 9, 2014. Accrued interest is equal to $508 and $369 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 4,508 4,369 Unsecured $137,833 note payable to Robert Saidel, which bears interest at 7% per annum and due April 25, 2014. Accrued interest is equal to $16,000 and $11,216 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 153,833 149,049 Unsecured $10,000 note payable to Robert Saidel, which bears interest at 7% per annum and due February 28, 2015. Accrued interest is equal to $929 and $581 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 10,929 10,581 Unsecured $20,000 note payable to Frank Russo, which bears interest at 7% per annum and was due April 3, 2015. Accrued interest is equal to $2,172 and $1,304 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 27,172 26,304 Unsecured $63,250 notes payable to Frank Russo, which bear interest at 7% per annum and was due May 1, 2015 through June 25, 2015. Accrued interest is equal to $5,024 and $2,828 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 68,274 66,078 Unsecured $1,350 note payable to Frank Russo, which bears interest at 7% per annum and was due May 30, 2015. Accrued interest is equal to $71 and $24 at June 30, 2015 and December 31, 2014, respectively. This note is in default at June 30, 2015. 1,421 1,374 Total loans payable - related parties $ 738,837 $ 721,075 |
Accounts Payable and Accrued 18
Accounts Payable and Accrued Expenses; Accrued Payroll and Related Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Expense | Accounts payable and accrued expenses consisted of the following at June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 Trade accounts payable $ 594,747 $ 554,475 Interest payable 32,781 291,400 Accrued expenses 209,628 188,859 $ 837,156 $ 1,034,734 |
Schedule of Accrued Payroll and Related Liabilities | Accrued payroll and related liabilities consisted of the following at June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 Accrued payroll $ 878,629 $ 658,629 Accrued directors compensation 530,000 470,000 Accrued payroll taxes 2,373,702 1,790,876 $ 3,782,331 $ 2,919,505 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments | The Company leases its office facilities in Marietta, Georgia. The term of the lease is 66 months with escalating lease payments beginning at $2,163 per month. At June 30, 2015, future minimum lease payments under the lease are as follows: 2015 14,183 2016 29,219 2017 15,054 $ 58,456 |
Organiztion, Presentation, an20
Organiztion, Presentation, and Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Accumulated deficit | $ (22,820,162) | $ (22,820,162) | $ (21,926,354) | |
Net cash used in operating activities | $ 893,808 | $ (398,399) | $ (405,567) |
Loan Payable (Details Narrative
Loan Payable (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Accrued interest expense | $ 21,951 | $ 14,261 |
Borrowed | 385,800 | 97,850 |
Settelment of debt | 48,000 | |
Loans Payable [Member] | ||
Converted of loans payable value | $ 20,808 | |
Converted of loans payable shares | 675,304,000 | |
Loans Payable [Member] | Common Stock [Member] | ||
Converted of loans payable value | $ 428,418 | |
Converted of loans payable shares | 7,674,970,146 | |
Loans Payable [Member] | Series A Preferred Stock [Member] | ||
Converted of loans payable value | $ 34,000 | |
Converted of loans payable shares | 17,000,000 |
Loans Payable - Schedule of Loa
Loans Payable - Schedule of Loan Payable (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Loan payable | $ 1,248,387 | $ 861,296 |
Loans Payable One [Member] | ||
Loan payable | 7,894 | 7,614 |
Loans Payable Two [Member] | ||
Loan payable | 98,837 | 94,672 |
Loans Payable Three [Member] | ||
Loan payable | 22,196 | 21,244 |
Loans Payable Four [Member] | ||
Loan payable | 8,801 | 8,457 |
Loans Payable Five [Member] | ||
Loan payable | 20,363 | 19,470 |
Loans Payable Six [Member] | ||
Loan payable | $ 15,565 | 15,090 |
Loans Payable Seven [Member] | ||
Loan payable | 3,500 | |
Loans Payable Eight [Member] | ||
Loan payable | 3,150 | |
Loans Payable Nine [Member] | ||
Loan payable | $ 16,695 | 16,120 |
Loans Payable Ten [Member] | ||
Loan payable | 6,074 | 5,937 |
Loans Payable Eleven [Member] | ||
Loan payable | $ 5,756 | 5,557 |
Loans Payable Twelve [Member] | ||
Loan payable | 8,877 | |
Loans Payable Thirteen [Member] | ||
Loan payable | $ 3,450 | 3,450 |
Loans Payable Fourteen [Member] | ||
Loan payable | 2,000 | 2,000 |
Loans Payable Fifteen [Member] | ||
Loan payable | 31,987 | 24,798 |
Loans Payable Sixteen [Member] | ||
Loan payable | $ 19,815 | 14,860 |
Loans Payable Seventeen [Member] | ||
Loan payable | 6,317 | |
Loans Payable Eighteen [Member] | ||
Loan payable | $ 11,222 | 10,726 |
Loans Payable Nineteen [Member] | ||
Loan payable | 8,531 | 6,218 |
Loans Payable Twenty [Member] | ||
Loan payable | 4,404 | 4,186 |
Loans Payable Twenty One [Member] | ||
Loan payable | 44,676 | 42,593 |
Loans Payable Twenty Two [Member] | ||
Loan payable | 56,062 | 53,448 |
Loans Payable Twenty Three [Member] | ||
Loan payable | $ 29,444 | 28,471 |
Loans Payable Twenty Four [Member] | ||
Loan payable | 8,500 | |
Loans Payable Twenty Five [Member] | ||
Loan payable | $ 23,433 | 22,639 |
Loans Payable Twenty Six [Member] | ||
Loan payable | $ 29,754 | 28,762 |
Loans Payable Twenty Seven [Member] | ||
Loan payable | 8,900 | |
Loans Payable Twenty Eight [Member] | ||
Loan payable | $ 43,674 | 28,170 |
Loans Payable Twenty Nine [Member] | ||
Loan payable | 14,341 | 13,597 |
Loans Payable Thirty [Member] | ||
Loan payable | 4,613 | 3,318 |
Loans Payable Thirty One [Member] | ||
Loan payable | $ 718,800 | 333,000 |
Loans Payable Thirty Two [Member] | ||
Loan payable | 5,155 | |
Loans Payable Thirty Three [Member] | ||
Loan payable | $ 2,500 |
Loans Payable - Schedule of L23
Loans Payable - Schedule of Loan Payable (Details) (Parenthetical) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Accrued interest | $ 12,504 | $ 0 | |
Loans Payable One [Member] | |||
Note payable | $ 50,000 | $ 50,000 | |
Percentage of bears interest per annum | 10.00% | 10.00% | |
Debt due date | Feb. 17, 2013 | Feb. 17, 2013 | |
Convertible notes | $ 44,348 | ||
Accrued interest | $ 2,242 | $ 1,962 | |
Loans Payable Two [Member] | |||
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | Oct. 24, 2013 | Oct. 24, 2013 | |
Unsecured notes | $ 70,000 | $ 70,000 | |
Accrued interest | $ 28,837 | $ 24,672 | |
Loans Payable Three [Member] | |||
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | May 3, 2013 | May 3, 2013 | |
Unsecured notes | $ 16,000 | $ 16,000 | |
Accrued interest | $ 6,196 | $ 5,244 | |
Loans Payable Four [Member] | |||
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | Feb. 5, 2013 | Feb. 5, 2013 | |
Convertible notes | $ 6,210 | $ 6,210 | |
Unsecured notes | 12,000 | 12,000 | |
Accrued interest | $ 3,011 | $ 2,667 | |
Loans Payable Five [Member] | |||
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | Mar. 26, 2013 | Mar. 26, 2013 | |
Convertible notes | $ 15,000 | $ 15,000 | |
Accrued interest | 5,363 | 4,470 | |
Loans Payable Six [Member] | |||
Note payable | $ 20,000 | $ 20,000 | |
Percentage of bears interest per annum | 9.00% | 9.00% | |
Debt due date | Aug. 25, 2013 | Aug. 25, 2013 | |
Convertible notes | $ 9,000 | ||
Unsecured notes | $ 39,647 | ||
Accrued interest | $ 4,918 | $ 4,443 | |
Loans Payable Seven [Member] | |||
Debt due date | Dec. 1, 2013 | Dec. 1, 2013 | |
Unsecured notes | $ 3,000 | $ 3,000 | |
Accrued interest | $ 500 | $ 500 | |
Loans Payable Eight [Member] | |||
Debt due date | Feb. 22, 2014 | Feb. 22, 2014 | |
Unsecured notes | $ 3,000 | $ 3,000 | |
Accrued interest | $ 150 | $ 150 | |
Loans Payable Nine [Member] | |||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | May 5, 2014 | May 5, 2014 | |
Unsecured notes | $ 14,500 | ||
Unamortized beneficial conversion feature | 6,202 | ||
Accrued interest | $ 2,195 | $ 1,620 | |
Loans Payable Ten [Member] | |||
Percentage of bears interest per annum | 5.00% | 5.00% | |
Debt due date | Feb. 28, 2014 | Feb. 28, 2014 | |
Convertible notes | $ 3,000 | ||
Unsecured notes | $ 8,500 | 8,500 | |
Accrued interest | $ 574 | $ 437 | |
Loans Payable Eleven [Member] | |||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | Aug. 12, 2014 | Aug. 12, 2014 | |
Unsecured notes | $ 5,000 | $ 5,000 | |
Unamortized beneficial conversion feature | 3,068 | ||
Accrued interest | $ 756 | $ 557 | |
Loans Payable Twelve [Member] | |||
Debt due date | Jun. 21, 2014 | Jun. 21, 2014 | |
Unsecured notes | $ 7,700 | $ 7,700 | |
Accrued interest | $ 1,559 | $ 1,177 | |
Loans Payable Thirteen [Member] | |||
Debt due date | Sep. 20, 2014 | Sep. 20, 2014 | |
Unsecured notes | $ 3,450 | ||
Loans Payable Fourteen [Member] | |||
Debt due date | Sep. 26, 2014 | Sep. 26, 2014 | |
Unsecured notes | $ 2,000 | ||
Loans Payable Fifteen [Member] | |||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | Mar. 17, 2015 | Mar. 17, 2015 | |
Unsecured notes | $ 29,000 | $ 29,000 | |
Unamortized beneficial conversion feature | 6,039 | ||
Accrued interest | $ 2,987 | $ 1,837 | |
Loans Payable Sixteen [Member] | |||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | Mar. 27, 2015 | Mar. 27, 2015 | |
Unsecured notes | $ 18,000 | $ 18,000 | |
Unamortized beneficial conversion feature | 4,241 | ||
Accrued interest | $ 1,815 | $ 1,101 | |
Loans Payable Seventeen [Member] | |||
Percentage of bears interest per annum | 10.00% | 10.00% | |
Debt due date | Jun. 21, 2015 | Jun. 21, 2015 | |
Unsecured notes | $ 6,000 | $ 6,000 | |
Accrued interest | $ 615 | $ 317 | |
Loans Payable Eighteen [Member] | |||
Percentage of bears interest per annum | 10.00% | 10.00% | |
Unsecured notes | $ 10,000 | $ 10,000 | |
Accrued interest | 1,222 | 726 | |
Loans Payable Nineteen [Member] | |||
Note payable | $ 24,000 | $ 24,000 | |
Percentage of bears interest per annum | 8.00% | 8.00% | |
Convertible notes | $ 16,500 | ||
Unamortized beneficial conversion feature | 2,015 | ||
Accrued interest | $ 1,031 | $ 733 | |
Loans Payable Twenty [Member] | |||
Debt due date | Jul. 3, 2014 | Jul. 3, 2014 | |
Unsecured notes | $ 5,000 | $ 5,000 | |
Repaid on loan amount | 2,800 | ||
Accrued interest | $ 3,674 | $ 1,986 | |
Loans Payable Twenty One [Member] | |||
Percentage of bears interest per annum | 12.00% | 12.00% | |
Unsecured notes | $ 35,000 | $ 35,000 | |
Accrued interest | $ 9,676 | $ 7,593 | |
Loans Payable Twenty Two [Member] | |||
Percentage of bears interest per annum | 12.00% | 12.00% | |
Unsecured notes | $ 43,922 | $ 43,922 | |
Accrued interest | $ 12,140 | $ 9,526 | |
Loans Payable Twenty Three [Member] | |||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | Jan. 31, 2014 | Jan. 31, 2014 | |
Convertible notes | $ 7,988 | $ 7,988 | |
Unsecured notes | 32,500 | 32,500 | |
Accrued interest | $ 4,932 | $ 3,959 | |
Loans Payable Twenty Four [Member] | |||
Debt due date | Oct. 30, 2013 | Oct. 30, 2013 | |
Unsecured notes | $ 7,000 | $ 7,000 | |
Accrued interest | $ 1,500 | $ 1,500 | |
Loans Payable Twenty Five [Member] | |||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | Mar. 9, 2014 | Mar. 9, 2014 | |
Unsecured notes | $ 20,000 | $ 20,000 | |
Accrued interest | $ 3,433 | $ 2,639 | |
Loans Payable Twenty Six [Member] | |||
Debt due date | Mar. 3, 2014 | Mar. 3, 2014 | |
Convertible notes | $ 7,500 | ||
Unsecured notes | $ 32,500 | 32,500 | |
Accrued interest | $ 4,754 | $ 3,762 | |
Loans Payable Twenty Seven [Member] | |||
Debt due date | Dec. 1, 2013 | Dec. 1, 2013 | |
Unsecured notes | $ 7,500 | $ 7,500 | |
Accrued interest | 1,400 | 1,400 | |
Loans Payable Twenty Eight [Member] | |||
Note payable | $ 40,000 | $ 40,000 | |
Debt due date | May 7, 2015 | May 7, 2015 | |
Unamortized beneficial conversion feature | $ 4,054 | ||
Accrued interest | $ 3,674 | $ 2,087 | |
Loans Payable Twenty Nine [Member] | |||
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | Oct. 8, 2014 | Oct. 8, 2014 | |
Unsecured notes | $ 125,000 | $ 125,000 | |
Accrued interest | $ 1,841 | $ 1,097 | |
Loans Payable Thirty [Member] | |||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | Apr. 8, 2015 | Apr. 8, 2015 | |
Unsecured notes | $ 4,200 | $ 4,200 | |
Unamortized beneficial conversion feature | 1,128 | ||
Accrued interest | $ 413 | $ 246 | |
Loans Payable Thirty Two [Member] | |||
Percentage of bears interest per annum | 10.00% | 10.00% | |
Debt due date | Sep. 9, 2015 | Sep. 9, 2015 | |
Unsecured notes | $ 5,000 | $ 5,000 | |
Accrued interest | $ 403 | $ 155 | |
Loans Payable Thirty Three [Member] | |||
Percentage of bears interest per annum | 10.00% | 10.00% | |
Debt due date | Oct. 20, 2015 | Oct. 20, 2015 | |
Unsecured notes | $ 2,500 | $ 2,500 | |
Accrued interest | $ 173 |
Releated Parties (Details Narra
Releated Parties (Details Narrative) - USD ($) | May. 14, 2015 | Oct. 05, 2011 | Jun. 30, 2015 | Jun. 30, 2014 |
Accured interest expense | $ 16,951 | $ 13,757 | ||
Borrowed | 811 | 63,313 | ||
Royalty fees | 37,689 | 3,236 | ||
One-time license renewal fee | $ 550,000 | |||
Prepaid license fees | 181,383 | |||
Outstaning license fee | $ 368,617 | |||
Continental Unites States [Member] | ||||
Percentage of royalty on revenue | 8.00% | |||
Outside Continental Unites States [Member] | ||||
Percentage of royalty on revenue | 30.00% | |||
BBGN&K LLC [Member] | ||||
Percentage of royalty payments beginning in related party revenues | 8.00% | |||
Loans Payable [Member] | ||||
Converted of loans payable value | $ 20,808 | |||
Converted of loans payable shares | 675,304,000 |
Related Parties - Schedule of R
Related Parties - Schedule of Related Parties Loan Payable (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Loan payable realted parties | $ 738,837 | $ 721,075 |
Loans Payable One [Member] | ||
Loan payable realted parties | 165,421 | 165,421 |
Loans Payable Two [Member] | ||
Loan payable realted parties | 264,481 | 256,403 |
Loans Payable Three [Member] | ||
Loan payable realted parties | 22,947 | 22,253 |
Loans Payable Four [Member] | ||
Loan payable realted parties | 8,539 | 8,279 |
Loans Payable Five [Member] | ||
Loan payable realted parties | 11,312 | 10,964 |
Loans Payable Six [Member] | ||
Loan payable realted parties | 4,508 | 4,369 |
Loans Payable Seven [Member] | ||
Loan payable realted parties | 153,833 | 149,049 |
Loans Payable Eight [Member] | ||
Loan payable realted parties | 10,929 | 10,581 |
Loans Payable Nine [Member] | ||
Loan payable realted parties | 27,172 | 26,304 |
Loans Payable Ten [Member] | ||
Loan payable realted parties | 68,274 | 66,078 |
Loans Payable Eleven [Member] | ||
Loan payable realted parties | $ 1,421 | $ 1,374 |
Related Parties - Schedule of26
Related Parties - Schedule of Related Parties Loan Payable (Details) (Parenthetical) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Accrued interest | $ 12,504 | $ 0 | |
Loans Payable One [Member] | |||
Convertible notes | $ 44,348 | ||
Percentage of bears interest per annum | 10.00% | 10.00% | |
Debt due date | Feb. 17, 2013 | Feb. 17, 2013 | |
Accrued interest | $ 2,242 | $ 1,962 | |
Loans Payable One [Member] | Robert Saidel [Member] | |||
Unsecured notes | 28,800 | ||
Converted of loans payable value | 144,000 | ||
Convertible notes | 28,800 | ||
Loans Payable Two [Member] | |||
Unsecured notes | $ 70,000 | $ 70,000 | |
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | Oct. 24, 2013 | Oct. 24, 2013 | |
Accrued interest | $ 28,837 | $ 24,672 | |
Loans Payable Two [Member] | Robert Saidel [Member] | |||
Convertible notes | $ 811 | ||
Percentage of bears interest per annum | 10.00% | 10.00% | |
Accrued interest | $ 81,070 | $ 73,803 | |
Loans Payable Three [Member] | |||
Unsecured notes | $ 16,000 | $ 16,000 | |
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | May 3, 2013 | May 3, 2013 | |
Accrued interest | $ 6,196 | $ 5,244 | |
Loans Payable Three [Member] | Robert Saidel [Member] | |||
Unsecured notes | $ 20,000 | $ 20,000 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | Dec. 1, 2013 | Dec. 1, 2013 | |
Accrued interest | $ 2,947 | $ 2,253 | |
Loans Payable Four [Member] | |||
Unsecured notes | 12,000 | 12,000 | |
Convertible notes | $ 6,210 | $ 6,210 | |
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | Feb. 5, 2013 | Feb. 5, 2013 | |
Accrued interest | $ 3,011 | $ 2,667 | |
Loans Payable Four [Member] | Robert Saidel [Member] | |||
Unsecured notes | $ 7,500 | $ 7,500 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | Jan. 8, 2014 | Jan. 8, 2014 | |
Accrued interest | $ 1,039 | $ 779 | |
Loans Payable Five [Member] | |||
Convertible notes | $ 15,000 | $ 15,000 | |
Percentage of bears interest per annum | 12.00% | 12.00% | |
Debt due date | Mar. 26, 2013 | Mar. 26, 2013 | |
Accrued interest | $ 5,363 | $ 4,470 | |
Loans Payable Five [Member] | Robert Saidel [Member] | |||
Unsecured notes | $ 10,000 | $ 10,000 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | Feb. 16, 2014 | Feb. 16, 2014 | |
Accrued interest | $ 1,312 | $ 964 | |
Loans Payable Six [Member] | |||
Unsecured notes | $ 39,647 | ||
Convertible notes | $ 9,000 | ||
Percentage of bears interest per annum | 9.00% | 9.00% | |
Debt due date | Aug. 25, 2013 | Aug. 25, 2013 | |
Accrued interest | $ 4,918 | $ 4,443 | |
Loans Payable Six [Member] | Frank Russo [Member] | |||
Unsecured notes | $ 4,000 | $ 4,000 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | Mar. 9, 2014 | Mar. 9, 2014 | |
Accrued interest | $ 508 | $ 369 | |
Loans Payable Seven [Member] | |||
Unsecured notes | $ 3,000 | $ 3,000 | |
Debt due date | Dec. 1, 2013 | Dec. 1, 2013 | |
Accrued interest | $ 500 | $ 500 | |
Loans Payable Seven [Member] | Frank Russo [Member] | |||
Unsecured notes | $ 137,833 | $ 137,833 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | Apr. 25, 2014 | Apr. 25, 2014 | |
Accrued interest | $ 16,000 | $ 11,216 | |
Loans Payable Eight [Member] | |||
Unsecured notes | $ 3,000 | $ 3,000 | |
Debt due date | Feb. 22, 2014 | Feb. 22, 2014 | |
Accrued interest | $ 150 | $ 150 | |
Loans Payable Eight [Member] | Frank Russo [Member] | |||
Unsecured notes | $ 10,000 | $ 10,000 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | Feb. 28, 2015 | Feb. 28, 2015 | |
Accrued interest | $ 929 | $ 581 | |
Loans Payable Nine [Member] | |||
Unsecured notes | $ 14,500 | ||
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | May 5, 2014 | May 5, 2014 | |
Accrued interest | $ 2,195 | $ 1,620 | |
Loans Payable Nine [Member] | Robert Saidel [Member] | |||
Unsecured notes | $ 20,000 | $ 20,000 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | Apr. 3, 2015 | Apr. 3, 2015 | |
Accrued interest | $ 2,172 | $ 1,304 | |
Loans Payable Ten [Member] | |||
Unsecured notes | $ 8,500 | 8,500 | |
Convertible notes | $ 3,000 | ||
Percentage of bears interest per annum | 5.00% | 5.00% | |
Debt due date | Feb. 28, 2014 | Feb. 28, 2014 | |
Accrued interest | $ 574 | $ 437 | |
Loans Payable Ten [Member] | Robert Saidel [Member] | |||
Unsecured notes | $ 63,250 | $ 63,250 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due term | May 1, 2015 through June 25, 2015 | May 1, 2015 through June 25, 2015 | |
Accrued interest | $ 5,024 | $ 2,828 | |
Loans Payable Eleven [Member] | |||
Unsecured notes | $ 5,000 | $ 5,000 | |
Percentage of bears interest per annum | 8.00% | 8.00% | |
Debt due date | Aug. 12, 2014 | Aug. 12, 2014 | |
Accrued interest | $ 756 | $ 557 | |
Loans Payable Eleven [Member] | Robert Saidel [Member] | |||
Unsecured notes | $ 1,350 | $ 1,350 | |
Percentage of bears interest per annum | 7.00% | 7.00% | |
Debt due date | May 30, 2015 | May 30, 2015 | |
Accrued interest | $ 71 | $ 24 |
Accounts Payable and Accrued 27
Accounts Payable and Accrued Expenses; Accrued Payroll and Related Liabilities (Details Narrative) - USD ($) | Jun. 30, 2015 | Jun. 30, 2014 |
Payables and Accruals [Abstract] | ||
Accrued interest | $ 12,504 | $ 0 |
Accounts Payable and Accrued 28
Accounts Payable and Accrued Expenses; Accrued Payroll and Related Liabilities - Schedule of Accounts Payable and Accrued Expense (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Payables and Accruals [Abstract] | ||
Trade accounts payable | $ 594,747 | $ 554,475 |
Interest payable | 32,781 | 291,400 |
Accrued expenses | 209,628 | 188,859 |
Total accounts payable and accrued expenses | $ 837,156 | $ 1,034,734 |
Accounts Payable and Accrued 29
Accounts Payable and Accrued Expenses; Accrued Payroll and Related Liabilities - Schedule of Accrued Payroll and Related Liabilities (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Payables and Accruals [Abstract] | ||
Accrued payroll | $ 878,629 | $ 658,629 |
Accrued directors' compensation | 530,000 | 470,000 |
Accrued payroll taxes | 2,373,702 | 1,790,876 |
Accrued payroll and related liabilities | $ 3,782,331 | $ 2,919,505 |
Amounts Payable in Common Sto30
Amounts Payable in Common Stock and Derivative Liability (Details Narrative) - USD ($) | Apr. 20, 2012 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2012 |
Number of common stock issued on settlement during period | |||||||
Common stock shares issued | 12,409,117,071 | 12,409,117,071 | 12,409,117,071 | ||||
Common stock issued value | $ 12,409,117 | $ 12,409,117 | $ 12,409,117 | ||||
Settlement of loans | $ 118,300 | ||||||
Reduction in derivative liability | $ 63,700 | $ 63,700 | |||||
Ironridge Global IV Ltd [Member] | |||||||
Common stock shares issued | 1,820,000,000 | 1,820,000,000 | |||||
Common stock issued value | $ 182,000 | $ 182,000 | |||||
Reduction in derivative liability | $ 63,700 | ||||||
Ironridge Global IV Ltd [Member] | |||||||
Accounts payable | $ 826,367 | ||||||
Loans payable | 241,978 | ||||||
Aggregate accounts and notes payable | $ 1,068,345 | ||||||
Percentage of during period discount rate | 35.00% | 35.00% | |||||
Derivative liability for discount settlement of claims | $ 575,263 |
Stockholders' Deficit (Details
Stockholders' Deficit (Details Narrative) - $ / shares | Sep. 17, 2010 | Jun. 30, 2015 |
Common stock shares authorized | 24,400,000,000 | |
Common stock par value | $ 0.001 | |
Preferred stock shares authorized | 600,000,000 | |
Preferred stock par value | $ 0.001 | |
Options granted under the plan during period | ||
Management And Consultants [Member] | ||
Number of common stock authorized to related party | 25,000,000 |
Commitments and Contingencies32
Commitments and Contingencies (Details Narrative) - USD ($) | May. 14, 2015 | Mar. 27, 2014 | Aug. 05, 2012 | Oct. 05, 2011 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 |
Lease term | 66 months | |||||||
Lease payments beginning per month | $ 2,163 | |||||||
Rent expense | 17,191 | $ 15,078 | ||||||
Royalty expense | 37,689 | 3,236 | ||||||
One-time license renewal fee | $ 550,000 | |||||||
Revenue | $ 5,001 | $ 5,001 | $ 10,002 | $ 6,668 | ||||
Continental Unites States [Member] | ||||||||
Percentage of royalty on revenue | 8.00% | |||||||
Outside Continental Unites States [Member] | ||||||||
Percentage of royalty on revenue | 30.00% | |||||||
BBGN&K LLC [Member] | ||||||||
Percentage of royalty payments beginning in related party revenues | 8.00% | |||||||
Web Asset LLC [Member] | ||||||||
Percentage of royalty on revenue | 49.00% | |||||||
Revenue | $ 2,000,000 | |||||||
Student Connect [Member] | ||||||||
Percentage of communication costs | 60.00% | |||||||
LST [Member] | ||||||||
Percentage of communication costs | 40.00% |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) | Jun. 30, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,015 | $ 14,183 |
2,016 | 29,219 |
2,017 | 15,054 |
Total | $ 58,456 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | |
May. 14, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | |
Received advance form related party | $ 811 | $ 152,142 | |
Health Information Systems Fund LLC [Member] | |||
Received advance form related party | $ 64,000 |