Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2015shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Ecolocap Solutions Inc. |
Document Type | 10-Q |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 4,327,026 |
Amendment Flag | false |
Entity Central Index Key | 1,290,506 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Smaller Reporting Company |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Jun. 30, 2015 |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q2 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
CURRENT LIABILITIES: | ||
Customer deposits | $ 175,000 | $ 175,000 |
Note Payable | 999,325 | 973,206 |
Note payable-stockholders | 1,686,136 | 1,370,760 |
Derivative liabilities | 1,383,151 | 1,483,205 |
Accrued expenses and sundry current liabilities related party | 107,351 | 86,117 |
Accrued expenses and sundry current liabilities | 1,409,513 | 1,221,995 |
TOTAL CURRENT LIABILITIES AND TOTAL LIABILITIES | 5,760,476 | 5,310,283 |
STOCKHOLDERS' DEFICIT | ||
Common stock 10,000,000,000 shares authorized, par value $0.00001, 4,327,026 and 3,934,026 Shares, respectively issued and outstanding | 43 | 39 |
Additional paid in capital | 36,443,039 | 36,404,899 |
Accumulated Deficit | (45,433,384) | (45,130,843) |
TOTAL STOCKHOLDERS' DEFICIT-Ecolocap Solutions Inc. | (8,990,302) | (8,725,905) |
Less Non-controlling interest | 3,229,826 | 3,415,622 |
TOTAL STOCKHOLDERS' DEFICIT | $ (5,760,476) | $ (5,310,283) |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2015 | Dec. 31, 2014 |
Common stock, authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, par value (in Dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, issued | 4,327,026 | 3,934,026 |
Common stock, outstanding | 4,327,026 | 3,934,026 |
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 | |
Selling, general and administrative | $ (216,638) | $ (182,466) | $ (424,096) | $ (349,607) |
TOTAL COSTS AND EXPENSES | (216,638) | (182,466) | (424,096) | (349,607) |
OTHER INCOME (EXPENSES) | ||||
Interest income | 36,666 | 73,332 | ||
Gain (loss) on derivatives at market | 98,624 | 103,201 | 98,097 | 161,567 |
Interest expense-related party | (28,541) | (21,886) | (55,448) | (48,577) |
Interest | (51,949) | (207,883) | (106,890) | (458,757) |
TOTAL OTHER INCOME (EXPENSES) | 18,134 | (89,902) | (64,241) | (272,435) |
Loss from continuing operations | (198,504) | (272,368) | (488,337) | (622,042) |
Ecolocap Solutions Inc | (101,321) | (202,011) | (302,541) | (483,369) |
Non-controlling interest | $ (97,183) | $ (70,357) | $ (185,796) | $ (138,673) |
Loss Per Common Share-Continuing operations-basic and diluted (in Dollars per share) | $ (0.05) | $ (0.07) | $ (0.12) | $ (0.19) |
Loss Per Common Share -basic and diluted (in Dollars per share) | $ (0.05) | $ (0.07) | $ (0.12) | $ (0.19) |
Average weighted Number of Shares-basic and diluted (in Shares) | 4,327,998 | 3,887,273 | 4,159,881 | 3,286,022 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net loss | $ (198,504) | $ (272,368) | $ (488,337) | $ (622,042) | |
Imputed interests of shareholders loans | 34,214 | 26,126 | |||
Loss (Gain) on derivatives liabilities at market | (98,624) | (103,201) | (98,097) | (161,567) | |
Interest expense on derivatives | 28,092 | 378,748 | |||
Interests accrued in note receivable | (73,332) | ||||
Prepaid expenses and sundry current assets | 16,666 | ||||
Accrued expenses and sundry current liabilities | 388,752 | 196,053 | |||
Net cash (used in) operating activities | (135,376) | (239,348) | |||
Proceeds of loans payable | 135,377 | 50,340 | |||
Proceeds of loans from shareholder | 135,376 | 187,771 | |||
Net cash provided by (used in) financing activities | 135,376 | 238,111 | |||
Decrease in cash | (1,237) | ||||
Cash-beginning of period | 1,237 | ||||
Cash-end of period | $ 0 | $ 0 | $ 0 | 0 | 0 |
Conversion of current liabilities, convertible notes payable, notes payable stockholders to common stock | 1,973 | $ 268,402 | |||
Reclassification of derivative to APIC | $ (1,957) | (1,957) | |||
Non cash additions of loans from shareholders | $ 179,999 |
NOTE 1 - NATURE OF BUSINESS AND
NOTE 1 - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2015 | |
Natureof Businessand Summaryof Significant Accounting Policies [Abstract] | |
Nature of Business and Summary of Significant Accounting Policies | NOTE 1 – NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company was an active business from 2005 through 2006 and was involved in the artificial sport surface. From 2007 through September 2010, the Company was looking for new business and commenced the Carbon Credits (CER'S) business. In the 2009, the Company acquired a participation in Micro Bubble Technologies Inc. and became an integrated and complementary network of environmentally focused technology company. The Company EcoloCap Solutions Inc. is an integrated and complementary network of environmentally focused technology companies that utilize advanced nanotechnology to design, develop and sell cleaner alternative energy products. We bring together the technology, engineering, and operational management for the successful development of environmentally significant products and projects. Our business approach combines science, innovation, and market-ready solutions to achieve environmentally sustainable and economically advantageous, power and energy management practices in the following areas: M-Fuel EcoloCap Solutions Inc., through its subsidiary Micro Bubble Technologies Inc. (MBT), developed M-Fuel, an innovative suspension fuel that far exceeds all conventional fuels' costs and efficiencies. This environmentally-friendly and economical product is designed to offer fully scalable and customizable fuel solutions that will increase efficiency, lower operating costs, and reduce emissions. M -Fuel is a suspension mixture of 60% heavy oil, 40% H plus O2 molecules, and a 0.3% stabilizing additive. The production of M-Fuel takes place in our Nano Processing Units (NPU), a self-contained device that is sized for output. The NPU's can be configured to operate in conjunction with an engine or burner to sully M-Fuel on demand, or pre-manufactured for delivery. M-Fuels unique burning process facilitates increased efficiency, resulting in reduced emissions by 60%, reduced fuel consumption by 40%, and cut costs by up to 25%. ECOS/BIO-ART ECOS/Bio-ART is a patented air injected high-speed aerobic biological fermentation technology, utilizing uniquely cultured Bacillus, and incorporated into a specifically designed in-vessel unit. The remediation process takes seven days and reduces moisture content to an average between 12%-25% on an output equal to 1/3 the input. The output can be used as organic fertilizer, animal feed, animal bedding or biomass. The computer controlled process monitors the temperature on 3 different levels. The technology reduces the costs associated with food waste disposal and in the process reduces the environmental impact or methane greenhouse gas production, provide a healthier life for all and create viable organic byproducts. |
NOTE 2 - BASIS OF PRESENTATION
NOTE 2 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 2 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited interim financial statements of EcoloCap Solutions Inc Going Concern The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which contemplates continuation of the Company as a going concern. The Company has had recurring losses, large accumulated deficits, is dependent on the shareholder to provide additional funding for operating expenses and has no recurring revenues. These items raise substantial doubts about the Company's ability to continue as a going concern. |
NOTE 3 - ACCRUED EXPENSES AND S
NOTE 3 - ACCRUED EXPENSES AND SUNDRY CURRENT LIABILITIES | 6 Months Ended |
Jun. 30, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 3 ACCRUED EXPENSES AND SUNDRY CURRENT LIABILITIES Accrued expenses consisted of the following at: June 30, 2015 December 31, 2014 Accrued interest $ 209,600 $ 111,436 Accrued interest-related party 107,351 86,117 Accrued compensation 490,616 425,517 Accounts payable 240,000 240,000 Accrued operating expenses 469,297 445,042 $ 1,516,864 $ 1,308,112 |
NOTE 4 - CONVERTIBLE NOTE PAYAB
NOTE 4 - CONVERTIBLE NOTE PAYABLE | 6 Months Ended |
Jun. 30, 2015 | |
Convertible Note Payable [Abstract] | |
Convertible Note Payable | NOTE 4 NOTES PAYABLE During the six month period ended June 30, 2015, the Company did not receive any proceeds of loans and for the year ended December 31, 2014, the Company received the proceeds of various loans which are convertible at amounts ranging from 40% to 60% of the market price of the common shares of the Company at the time of conversion and bear interest at rates ranging from 8% to 22% per annum. The amounts received during the year ended December 31, 2014 are $86,500 in cash, $140,000 in non-cash borrowings related to the default on Tonaquint loans in 2014, respectively. The convertible feature of these loans, due to their potential settlement in an indeterminable number of shares of the Company's common stock has been identified as a derivative. The derivative component is fair value at the date of issuance of the obligation and this amount is allocated between the derivative and the underlying obligation. The difference is recorded as a debt discount and amortized over the life of the debt. The Redwood Management, LLC and Tonaquint notes are in default as of June 30, 2015. During the six month period ended June 30, 2015 and the year ended December 31, 2014 other convertible debts were converted into common shares of the Company. During the six month period ended June 30, 2015 and the year ended December 31, 2014, total loan conversions of $1,973 were made into 393,000 shares respectively and total loan conversions of $186,312 plus accrued interests of $28,547 were made into 1,841,012 shares respectively. A summary of the amounts outstanding as of June 30, 2015 and December 31, 2014 are as follows: Loans 2015 Debt discount 2015 Balance June 30, 2015 Balance December 31, 2014 Tonaquint $ 552,693 $ 8,360 $ 544,333 $ 521,640 Redwood Management, LLC 372,992 - 372,992 372,992 LG Capital 19,500 - 19,500 19,500 Proteus Capital 32,500 - 32,500 - Asher Enterprises Inc - - - 32,500 GSM Capital Group LLC 30,000 - 30,000 26,574 $ 1,007,685 $ 8,360 $ 999,325 $ 973,206 |
NOTE 5 - NOTE PAYABLE - STOCKHO
NOTE 5 - NOTE PAYABLE - STOCKHOLDERS | 6 Months Ended |
Jun. 30, 2015 | |
Payable Stockholder [Abstract] | |
Note Payable Stockholder | NOTE 5 – NOTE PAYABLE – STOCKHOLDERS The stockholders increase of $179,999, are additions for accrued salaries. These were not actual cash proceeds. The amount owed to stockholders at June 30, 2015 is $1,491,179. These loans are non interest bearing but interest is being imputed at 5.00% per annum and are payable on demand. An amount of $34,214 has been imputed in 2015 and $56,589 was imputed in 2014. During the six month period ended June 30, 2015, the Company received $135,377 in loans from Hanscom Inc. The amount owed to Hanscom K. Inc. at June 30, 2015 is $166,457. These loans are non-interest bearing and are payable on demand. The amount owed to RCO Group Inc. at June 30, 2015 is $28,500. These loans are non-interest bearing and are payable on demand. These loans bear at 8.00% per annum and are payable on demand. During the six month period ended June 30, 2015 and the year ended December 31, 2014, the Company received the proceeds of various loans which are convertible at amounts of 50% of the market price of the common shares of the Company at the time of conversion and bear interest at 8% per annum. The amounts received during period ended June 30, 2015 and the year ended December 31, 2014 are $0 and $23,528, respectively. The convertible feature of these loans, due to their potential settlement in an indeterminable number of shares of the Company's common stock has been identified as a derivative. The derivative component is fair valued at the date of issuance of the obligation and this amount is allocated between the derivative and the underlying obligation. The difference is recorded as a debt discount and amortized over the life of the debt. During the six month period ended June 30, 2015 and the year ended December 31, 2014 other convertible debts were converted into common shares of the Company. During the period ended June 30, 2015 and the year ended December 31, 2014, total loan conversions of $0 plus accrued interests of $0 and $48,616 plus accrued interests of $4,927 were made into 0 and 655,621 shares respectively. A summary of the amounts outstanding as of June 30, 2015 and December 31, 2014 are as follows: Loans 2015 Debt discount 2015 Balance June 30, 2015 Balance December 31, 2014 Stockholders $ 1,491,179 $ - $ 1,491,179 $ 1,311,180 Hanscom K. Inc. 166,457 - 166,457 31,080 RCO Group Inc. 28,500 - 28,500 28,500 $ 1,686,136 $ - $ 1,686,136 $ 1,370,760 |
NOTE 6 - DERIVATIVE LIABILITIES
NOTE 6 - DERIVATIVE LIABILITIES | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 6 – DERIVATIVE LIABILITIES During the six month period ended June 30, 2015, the Company recorded various derivative liabilities associated with the convertible debts discussed in Notes 4 and 5. The Company computes the value of the derivative liability at the issuance of the related obligation using the Black Scholes Method using a risk free rate of 0.14%, volatility rates ranging between 814.00% and 1,306.00% and a forfeiture rate of 0.00%. The derivative liability at June 30, 2015 and December 31, 2014 are as follows: 2015 2014 Asher Enterprises Inc $ - $ 72,222 Tonaquint 785,347 924,437 Proteus Capital Group LLC 86,319 - LG Capital 58,500 46,887 GSM Fund 79,991 66,665 Redwood Management, LLC 372,994 372,994 Total $ 1,383,151 $ 1,483,205 Financial assets and liabilities recorded at fair value in our balance sheets are categorized based upon a fair value hierarchy established by GAAP, which prioritizes the inputs used to measure fair value into the following levels: Fair Value of Financial Instruments Level 1— Quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2— Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3— Inputs reflecting management's best estimates and assumptions of what market participants would use in pricing assets or liabilities at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Financial assets and liabilities measured at fair value on a recurring basis are summarized below for the period ended June 30, 2015. Level 1 Level 2 Level 3 Total Derivative Financial Instruments $ - $ - $ 1,383,151 $ 1,383,151 Financial assets and liabilities measured at fair value on a recurring basis are summarized below for the year ended December 31, 2014. Level 1 Level 2 Level 3 Total Derivative Financial Instruments $ - $ - $ 1,483,205 $ 1,483,205 The following table summarizes the derivatives liability from January 1 st Derivative liabilities Balance December 31, 2014 $ 1,483,205 Addition of new derivative - Day one loss due to derivative - Loss on change in fair value of the derivative (98,097 ) Settled upon conversion of debt (1,957 ) Balance June 30, 2015 $ 1,383,151 |
NOTE 7 - CAPITAL STOCK
NOTE 7 - CAPITAL STOCK | 6 Months Ended |
Jun. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 7 – CAPITAL STOCK The Company is authorized to issue 10,000,000,000 shares of common stock (par value $0.00001) of which 4,327,026 were issued and outstanding as of June 30, 2015 and 3,934,026 shares of common stock issued and outstanding as of December 31, 2014. FINRA advised us that 1-for-2,000 reverse-stock split would be announced on February 17, 2015 on FINRA's daily list and the reverse split would take effect at the opening of business on February 18, 2015. The new symbol will be ECOSD. The D will be removed in 20 business days. Accordingly, the market price of our common stock now reflects the 1-for-2,000 share reverse-stock split. The reverse-stock split has been retroactively applied to all shares amount in this filing. During 2015, the following convertible debt owners converted loans plus accrued interests into common shares of the Company. Loans Interest Common shares converted converted Of the Company Tonaquint (note 4) $ 1,973 $ - $ 393,000 Total $ 1,973 $ - $ 393,000 During 2014, the following convertible debt owners converted loans plus accrued interests into common shares of the Company. Loans Interests Common shares converted converted Of the Company Asher Enterprises Inc (note 4) $ 34,900 $ 2,200 $ 371,000 Tonaquint (note 4) 102,396 15,302 853,563 AES Capital Corp. (note 4) 24,016 5,949 299,646 AGS Capital Group LLC (note 5) 42,323 3,827 573,528 JMJ Financial (note 4) 25,000 5,096 316,803 Panache Capital LLC (note 5) 6,293 1,100 82,093 Total $ 234,928 $ 33,474 $ 2,496,633 |
NOTE 8 - RELATED PARTY TRANSACT
NOTE 8 - RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 8 RELATED PARTY TRANSACTIONS The stockholders increase of $179,999, are additions for accrued salaries. These were not actual cash proceeds. These loans carry an interest of 5.00% and are payable on demand. For the periods ended June 30, 2015 and 2014, interest paid to related party totaled $28,541 and $21,886. |
NOTE 9 - SUBSEQUENT EVENTS
NOTE 9 - SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 9 – SUBSEQUENT EVENTS On December 19, 2016, we entered into a Supply Agreement (the "Supply Agreement") with Lakeshore Recycling Systems LLC wherein we agreed to manufacture and supply equipment and products to LLC for resale or lease to Lakeshore and LLC's customers. In March 2017, the Company signed a common stock purchase agreement where a purchaser will purchase restricted stock of the Company for an aggregate purchase price of $50,000. |
NOTE 3 - ACCRUED EXPENSES AND15
NOTE 3 - ACCRUED EXPENSES AND SUNDRY CURRENT LIABILITIES (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | June 30, 2015 December 31, 2014 Accrued interest $ 209,600 $ 111,436 Accrued interest-related party 107,351 86,117 Accrued compensation 490,616 425,517 Accounts payable 240,000 240,000 Accrued operating expenses 469,297 445,042 $ 1,516,864 $ 1,308,112 |
NOTE 4 - CONVERTIBLE NOTE PAY16
NOTE 4 - CONVERTIBLE NOTE PAYABLE (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Convertible Note Payable [Abstract] | |
Convertible Debt [Table Text Block] | Loans 2015 Debt discount 2015 Balance June 30, 2015 Balance December 31, 2014 Tonaquint $ 552,693 $ 8,360 $ 544,333 $ 521,640 Redwood Management, LLC 372,992 - 372,992 372,992 LG Capital 19,500 - 19,500 19,500 Proteus Capital 32,500 - 32,500 - Asher Enterprises Inc - - - 32,500 GSM Capital Group LLC 30,000 - 30,000 26,574 $ 1,007,685 $ 8,360 $ 999,325 $ 973,206 |
NOTE 5 - NOTE PAYABLE - STOCK17
NOTE 5 - NOTE PAYABLE - STOCKHOLDERS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Payable Stockholder [Abstract] | |
Schedule of Payable Stockholder | Loans 2015 Debt discount 2015 Balance June 30, 2015 Balance December 31, 2014 Stockholders $ 1,491,179 $ - $ 1,491,179 $ 1,311,180 Hanscom K. Inc. 166,457 - 166,457 31,080 RCO Group Inc. 28,500 - 28,500 28,500 $ 1,686,136 $ - $ 1,686,136 $ 1,370,760 |
NOTE 6 - DERIVATIVE LIABILITI18
NOTE 6 - DERIVATIVE LIABILITIES (Tables) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Schedule of Derivative Instruments [Table Text Block] | 2015 2014 Asher Enterprises Inc $ - $ 72,222 Tonaquint 785,347 924,437 Proteus Capital Group LLC 86,319 - LG Capital 58,500 46,887 GSM Fund 79,991 66,665 Redwood Management, LLC 372,994 372,994 Total $ 1,383,151 $ 1,483,205 | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total Derivative Financial Instruments $ - $ - $ 1,383,151 $ 1,383,151 | Level 1 Level 2 Level 3 Total Derivative Financial Instruments $ - $ - $ 1,483,205 $ 1,483,205 |
Description of Derivative Activity Volume | Derivative liabilities Balance December 31, 2014 $ 1,483,205 Addition of new derivative - Day one loss due to derivative - Loss on change in fair value of the derivative (98,097 ) Settled upon conversion of debt (1,957 ) Balance June 30, 2015 $ 1,383,151 |
NOTE 7 - CAPITAL STOCK (Tables)
NOTE 7 - CAPITAL STOCK (Tables) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Stockholders' Equity Note [Abstract] | ||
Schedule of Debt Conversions [Table Text Block] | Loans Interest Common shares converted converted Of the Company Tonaquint (note 4) $ 1,973 $ - $ 393,000 Total $ 1,973 $ - $ 393,000 | Loans Interests Common shares converted converted Of the Company Asher Enterprises Inc (note 4) $ 34,900 $ 2,200 $ 371,000 Tonaquint (note 4) 102,396 15,302 853,563 AES Capital Corp. (note 4) 24,016 5,949 299,646 AGS Capital Group LLC (note 5) 42,323 3,827 573,528 JMJ Financial (note 4) 25,000 5,096 316,803 Panache Capital LLC (note 5) 6,293 1,100 82,093 Total $ 234,928 $ 33,474 $ 2,496,633 |
NOTE 3 - ACCRUED EXPENSES AND20
NOTE 3 - ACCRUED EXPENSES AND SUNDRY CURRENT LIABILITIES (Details) - Accrued Expenses - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Accrued Expenses [Abstract] | ||
Accrued interest | $ 209,600 | $ 111,436 |
Accrued interest-related party | 107,351 | 86,117 |
Accrued compensation | 490,616 | 425,517 |
Accounts payable | 240,000 | 240,000 |
Accrued operating expenses | 469,297 | 445,042 |
$ 1,516,864 | $ 1,308,112 |
NOTE 4 - CONVERTIBLE NOTE PAY21
NOTE 4 - CONVERTIBLE NOTE PAYABLE (Details) - USD ($) | Dec. 31, 2014 | Jun. 30, 2015 | Dec. 31, 2014 |
Convertible Note Payable [Abstract] | |||
Debt Instrument, Convertible, Minimum Conversion Ratio | 40.00% | ||
Debt Instrument, Convertible, Maximum Conversion Ratio | 60.00% | ||
Debt Instrument, Interest Rate, Effective Percentage, Minimum | 8.00% | ||
Debt Instrument, Interest Rate, Effective Percentage, Maximum | 22.00% | ||
Proceeds from Convertible Debt (in Dollars) | $ 86,500 | ||
Debt Instrument, Default Amount (in Dollars) | $ 140,000 | $ 140,000 | |
Debt Conversion, Converted Instrument, Amount (in Dollars) | $ 186,312 | $ 1,973 | |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 393,000 | 1,841,012 | |
Debt Instrument, Interest Rate During Period | 8.00% | 28547.00% |
NOTE 4 - CONVERTIBLE NOTE PAY22
NOTE 4 - CONVERTIBLE NOTE PAYABLE (Details) - Summary of Convertible Notes Payable - USD ($) | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Summary of Convertible Notes Payable [Abstract] | |||
$ 552,693 | |||
8,360 | |||
$ 544,333 | |||
$ 521,640 | |||
Loans | 1,007,685 | ||
Debt discount | $ 8,360 | ||
Balance, June 30, 2015 | $ 999,325 | ||
Balance, December 31, 2014 | $ 973,206 |
NOTE 5 - NOTE PAYABLE - STOCK23
NOTE 5 - NOTE PAYABLE - STOCKHOLDERS (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Payable Stockholder [Abstract] | |||
Increase (Decrease) in Accrued Salaries | $ 179,999 | ||
Due to Officers or Stockholders | $ 1,491,179 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||
Accrued Interest, Stockholders | $ 34,214 | $ 56,589 | |
Proceeds from Notes Payable | 135,377 | $ 50,340 | |
Notes Payable | 166,457 | ||
Proceeds from Loans | $ 28,500 | ||
Debt Instrument, Interest Rate During Period | 8.00% | 28547.00% | |
Debt Instrument, Convertible, Conversion Ratio | 0.50 | ||
Proceeds from Convertible Debt, Shareholder | $ 0 | $ 23,528 | |
Debt Conversion, Converted Instrument, Amount, Shareholder | 0 | 48,616 | |
Interest Payable | $ 0 | $ 4,927 | |
Debt Instrument, Converted Instrument, Shares Issued, Shareholder (in Shares) | 0 | 655,621 |
NOTE 5 - NOTE PAYABLE - STOCK24
NOTE 5 - NOTE PAYABLE - STOCKHOLDERS (Details) - Schedule of Note Payable Stockholder - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Note Payable Stockholder [Abstract] | ||
$ 1,491,179 | ||
1,491,179 | ||
$ 521,640 | ||
Loans | 1,686,136 | |
Balance, June 30, 2015 | $ 1,686,136 | |
Balance, December 31, 2014 | $ 1,370,760 |
NOTE 6 - DERIVATIVE LIABILITI25
NOTE 6 - DERIVATIVE LIABILITIES (Details) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value Assumptions, Risk Free Interest Rate | 0.14% |
Fair Value Assumptions, Minimum Expected Volatility Rate | 814.00% |
Fair Value Assumptions, Maximum Expected Volatility Rate | 1306.00% |
NOTE 6 - DERIVATIVE LIABILITI26
NOTE 6 - DERIVATIVE LIABILITIES (Details) - Derivative Liability - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative Liability [Abstract] | ||
$ 1,383,151 | $ 1,483,205 | |
Total | $ 1,383,151 | $ 1,483,205 |
NOTE 6 - DERIVATIVE LIABILITI27
NOTE 6 - DERIVATIVE LIABILITIES (Details) - Financial Assets and Liabilities, Measured at Fair Value on a Recurring Basis - USD ($) | 1 Months Ended | 5 Months Ended | 6 Months Ended | |
Dec. 31, 2015 | Dec. 03, 2015 | Jun. 03, 2014 | Jun. 30, 2014 | |
Financial Assets and Liabilities, Measured at Fair Value on a Recurring Basis [Abstract] | ||||
Derivative Financial Instruments | $ 1,383,151 | $ 1,383,151 | $ 1,483,205 | $ 1,483,205 |
NOTE 6 - DERIVATIVE LIABILITI28
NOTE 6 - DERIVATIVE LIABILITIES (Details) - Financial Assets and Liabilities, Measured at Fair Value on a Recurring Basis - USD ($) | 1 Months Ended | 5 Months Ended | 6 Months Ended | |
Dec. 31, 2015 | Dec. 03, 2015 | Jun. 03, 2014 | Jun. 30, 2014 | |
Financial Assets and Liabilities, Measured at Fair Value on a Recurring Basis [Abstract] | ||||
Derivative Financial Instruments | $ 1,383,151 | $ 1,383,151 | $ 1,483,205 | $ 1,483,205 |
NOTE 6 - DERIVATIVE LIABILITI29
NOTE 6 - DERIVATIVE LIABILITIES (Details) - Derivative Liability Activity - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | |
Derivative Liability Activity [Abstract] | |||||
Balance December 31, 2014 | $ 1,483,205 | ||||
Loss on change in fair value of the derivative | $ (98,624) | $ (103,201) | (98,097) | $ (161,567) | |
Settled upon conversion of debt | $ (1,957) | (1,957) | |||
Balance June 30, 2015 | $ 1,383,151 | $ 1,383,151 | $ 1,383,151 |
NOTE 7 - CAPITAL STOCK (Details
NOTE 7 - CAPITAL STOCK (Details) - $ / shares | Jun. 30, 2015 | Dec. 31, 2014 |
Stockholders' Equity Note [Abstract] | ||
Common Stock, Shares Authorized | 10,000,000,000 | 10,000,000,000 |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.00001 | $ 0.00001 |
Common Stock, Shares, Issued | 4,327,026 | 3,934,026 |
NOTE 7 - CAPITAL STOCK (Detai31
NOTE 7 - CAPITAL STOCK (Details) - Convertible Debt Activity 2015 - USD ($) | Dec. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 |
Convertible Debt Activity 2015 [Abstract] | |||
Tonaquint (note 4) | $ 1,973 | $ 268,402 | |
Tonaquint (note 4) | 393,000 | $ (371,000) | |
Total | $ 186,312 | 1,973 | |
Total | $ 393,000 |
NOTE 7 - CAPITAL STOCK (Detai32
NOTE 7 - CAPITAL STOCK (Details) - Convertible Debt Activity 2014 - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Convertible Debt Activity 2014 [Abstract] | ||
$ 1,973 | $ 268,402 | |
2,200 | ||
$ (393,000) | 371,000 | |
Loans converted | 234,928 | |
Interests converted | 33,474 | |
Common shares of the Company | $ 2,496,633 |
NOTE 8 - RELATED PARTY TRANSA33
NOTE 8 - RELATED PARTY TRANSACTIONS (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ||||
Accrued Salaries | $ 179,999 | $ 179,999 | ||
Debt Instrument, Interest Rate, Effective Percentage | 5.00% | 5.00% | ||
Interest Expense, Related Party | $ (28,541) | $ (21,886) | $ (55,448) | $ (48,577) |
NOTE 9 - SUBSEQUENT EVENTS (Det
NOTE 9 - SUBSEQUENT EVENTS (Details) | Mar. 31, 2017USD ($) |
Subsequent Events [Abstract] | |
Contractual Obligation | $ 50,000 |