STOCKHOLDERS' EQUITY | 5. STOCKHOLDERS' EQUITY At December 31, 2015 and 2014, the Company has 10,000,000 Preferred shares authorized with a par value of $0.001 per share and 1,000,000,000 and 250,000,000 Common shares authorized (see Note 1"Description Of Business" above) with a par value of $0.001 per share. At December 31, 2015 and 2014, the Company had 162,989,701 and 94,771,701 Common shares issued and outstanding, respectively. On January 31, 2014, the Company signed a Debt Settlement Agreement with Aruba Capital Partners Limited, a company owned by its Chairman, whereby 1,250,000 Restricted Common shares at $0.04 per share were issued in exchange for $50,000 of unpaid expenses incurred on behalf of the Company and a non-interest bearing loan made to the Company, which represents a 33.3% discount to the closing price of the Company's freely-traded shares on the OTC.BB (see Note 6 "Related Party Transactions:). On April 3, 2014, the Company sold 250,000 Restricted Common shares at $0.04 per share for cash to a non-related party who's also a vendor (see April 4, 2014 transaction below), which represents a 33.3% discount to the closing price of $0.06 per share of the Company's freely-traded shares on the OTC.BB. On April 4, 2014, the Company signed a Debt Settlement Agreement with a non-related vendor, whereby the Company issued 505,000 Restricted Common shares at $0.04 per share in exchange for $20,200 of accounts payable owed to the vendor, which represents a 33.3% discount to the closing price of $0.06 per share of the Company's freely-traded shares on the OTC.BB. On April 10, 2014, the Company sold 66,667 Restricted Common shares at $0.075 per share for cash to a non-related party, which represents a 25% discount to the closing price of $0.10 per share of the Company's freely-traded shares on the OTC.BB. On January 6, 2015, the Company executed three Debt Settlement Agreements, whereby the Company issued twenty million Restricted Common shares to its Chairman, one million Restricted Common shares to a non-officer Director and five million Restricted Common shares to a vendor, at $0.01 per share, the closing price of the Company's freely-traded shares being $0.012 per share, in exchange for accounts payable and loans of $200,000, $10,000 and $50,000, respectively. On January 27, 2015, the Company executed a Debt Settlement Agreement with its CEO, President and CFO, whereby the Company issued 6.5 million Restricted Common shares at $0.02 per share, the closing price of the Company's freely-traded shares being $0.025 per share, in exchange for $195,000 of accounts payable owed. On February 9, 2015, the Company sold for cash $25,000 for one million Restricted Common shares at $0.025 to a non-related party. The closing price of the Company's freely-traded shares was $0.05 per share. On February 10, 2015, the Company filed a Certificate of Amendment to its Articles of Incorporation with the State of Nevada increasing the number of its authorized Common shares from 250,000,000 to 1,000,000,000. On February 10, 2015, the Company entered into four Consulting Agreements with non-related parties, issuing a total of 16 million shares of its Restricted Common shares at $0.05 per share, the closing price of its freely-traded shares. On February 11, 2015, the Company signed a Debt Settlement Agreement with its CEO, President and CFO, whereby the Company issued 6,668,000 Restricted Common shares at $0.05 per share, the closing price of the Company's freely-traded shares, in exchange for $200,040 of accounts payable owed. On February 17, 2015, the Company signed Amendments to the Agreement to serve on the Board of Directors with its two independent Directors, whereby the Company issued four million shares of Restricted Common Shares (two million to each Director) at $0.06, the closing price of the Company's freely-traded shares. On April 21, 2015, the Company issued 1,100,000 shares of its Restricted Common stock pursuant to a Debt Settlement Agreement with Aruba Capital Management, Inc., a related party, in exchange for $33,000 of accounts payable owed by the Company for expenses paid on its behalf. On May 12, 2015, the Company issued 500,000 shares of its Restricted Common stock to an unrelated party in exchange for $5,000. On May 13, 2015, the Company issued 750,000 shares of its Restricted Common stock to an unrelated party in exchange for $7,500. On May 14, 2015, the Company issued 250,000 shares of its Restricted Common stock to an unrelated party in exchange for $2,500. On June 10, 2015, the Company issued 1,000,000 shares of its Restricted Common stock to an unrelated party in exchange for $10,000. As of June 30, 2015, the Company had received $2,500 and recorded a Subscription receivable of $7,500, which was collected in July 2015. On August 25, 2015, the Company issued 1,000,000 shares of its Restricted Common stock at $0.01 per share, the closing price of the Company's freely-traded shares being $0.022 per share, in settlement of $10,000 owed by the Company. The Company recorded a net loss of $164,860 resulting from settlement of $665,040 of debt for 40,168,000 Restricted Common shares during the nine-months ended September 30, 2015. On October 4, 2015, the Company issued 500,000 shares of its Restricted Common stock to an unrelated party at $0.01 per share in exchange for $5,000. On October 10, 2015, the Company issued 250,000 shares of its Restricted Common stock to an unrelated party at $0.01 per share in exchange for $2,500. On October 27, 2015, the Company entered into a Consulting Agreement and issued 4,000,000 shares of its Restricted Common Shares at $0.01 per share. On November 15, 2015, the Company issued 1,200,000 shares of its Restricted Common Shares at $0.01 per share for $12,000. On December 3, 2015, the Company issued 1,000,000 shares of its Restricted Common Shares at $0.01 per share for $10,000. On December 18, 2015, the Company voided the October 27, 2015 Consulting Agreement at the request of the Consultant. The original stock certificate was retired by the Company's transfer agent on May 16, 2016. |