Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 11, 2016 | |
Document and Entity Information | ||
Entity Registrant Name | CANNASYS INC | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Entity Central Index Key | 1,417,028 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 25,050,522 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Entity Incorporation, Date of Incorporation | Aug. 25, 1999 | |
Trading Symbol | mjtk |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash | $ 1,860 | $ 7,720 |
Accounts receivable | 4,550 | |
Total Current Assets | 1,860 | 12,270 |
Property & equipment, net | 208,588 | 5,178 |
Software license | 255,000 | |
Available for sale securities | 32,500 | 32,500 |
Equity investment in MHB, Inc., net of impairment of $2,445,990 | 450,000 | 1,049,475 |
Deposit | 1,500 | |
Total Assets | 694,448 | 1,354,423 |
Current Liabilities: | ||
Accounts payable | 339,870 | 123,676 |
Accrued expenses | 136,565 | 51,274 |
Notes payable | 179,717 | 200,000 |
Convertible notes payable, net of discount of $42,797 and $122,084, respectively | 456,094 | 152,966 |
Total Current Liabilities | 1,112,246 | 527,916 |
Total Liabilities | 1,112,246 | 527,916 |
Stockholders' Equity: | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized, 1,515,000 and no shares issued and outstanding, respectively | 1,515 | |
Common stock, $0.001 par value, 2,000,000,000 shares authorized, 3,420,551 and 1,058,802 shares issued and outstanding, respectively | 3,421 | 1,059 |
Additional paid-in capital | 8,710,096 | 6,442,134 |
Accumulated deficit | (9,132,830) | (5,616,686) |
Total Stockholders' Equity (Deficit) | (417,798) | 826,507 |
Total Liabilities and Stockholders' Equity | $ 694,448 | $ 1,354,423 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position | ||
Common Stock, par or stated value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 75,000,000 | 75,000,000 |
Common Stock, shares issued | 3,420,551 | 1,058,802 |
Common Stock, shares outstanding | 3,420,551 | 1,058,802 |
Preferred Stock, par or stated value | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred Stock, shares issued | 1,515,000 | 0 |
Preferred Stock, shares outstanding | 1,515,000 | 0 |
Impairment of equity investment in MHB, Inc. | $ 2,445,990 | |
Convertible notes payable, discount | $ 42,797 | $ 122,084 |
Condensed Statements of Operati
Condensed Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Income Statement | ||||
Sales revenue | $ 499 | $ 48,156 | $ 59,150 | $ 76,404 |
Cost of goods sold | 6,800 | 24,260 | 10,018 | |
Gross Margin | 499 | 41,356 | 34,890 | 66,386 |
Operating Expenses: | ||||
Stock-based compensation expense | 119,125 | 604,592 | ||
Professional fees | 95,286 | 58,847 | 307,713 | 155,827 |
Salary and wage expense | 49,092 | 335,297 | 183,793 | 572,151 |
General and administrative | 68,240 | 96,394 | 198,261 | 200,585 |
Total Operating Expenses | 331,743 | 490,538 | 1,294,359 | 928,563 |
Loss from Operations | (331,244) | (449,182) | (1,259,469) | (862,177) |
Other income (expense): | ||||
Interest expense | (12,749) | (1,410) | (29,204) | (2,088) |
Interest expense-debt discount and loan financing fees | (86,291) | (502,140) | ||
Impairment loss on investment | (599,475) | (599,475) | ||
Loss on fixed and intangible assets | (258,766) | (258,766) | ||
Loss on issuance of convertible debt | (418,079) | (907,090) | ||
Gain on forgiveness of debt | 40,000 | 40,000 | ||
Total other expense | (1,335,360) | (1,410) | (2,256,675) | (2,088) |
Loss before provision for income taxes | (1,666,604) | (450,592) | (3,516,144) | (864,265) |
Provision for income taxes | ||||
Net loss | $ (1,666,604) | $ (450,592) | $ (3,516,144) | $ (864,265) |
Basic and diluted loss per common share | $ (0.50) | $ (0.80) | $ (1.77) | $ 0 |
Weighted average number of common shares outstanding | 3,365,342 | 563,703 | 1,990,980 | 556,780 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flow from operating activities | ||
Net loss | $ (3,516,144) | $ (864,265) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 13,824 | 2,103 |
Stock-based compensation | 604,592 | 208,000 |
Amortization of debt discount | 502,140 | |
Severance expense | 33,717 | |
Impairment loss on investment | 599,475 | |
Loss on issuance of convertible debt | 907,090 | |
Loss on fixed and intangible assets | 258,766 | |
Gain on forgiveness of debt | (40,000) | |
Change in operating assets and liabilities: | ||
Accounts receivable | 4,550 | 1,424 |
Prepaids | 2,828 | |
Other assets | (1,500) | (96,750) |
Related-party payable | (1,320) | |
Accounts payable | 237,799 | 33,590 |
Accrued expenses | 87,831 | 8,051 |
Net cash used in operating activities | (307,860) | (706,339) |
Cash flows provided by investing activities | ||
Cash flows from financing activities: | ||
Proceeds from loans | 315,500 | 200,000 |
Payments on loans | (13,500) | |
Net cash provided by financing activities | 302,000 | 200,000 |
Net increase (decrease)in cash | (5,860) | (506,339) |
Cash at beginning of the period | 7,720 | 525,720 |
Cash at end of the period | 1,860 | 19,381 |
Supplemental Disclosures: | ||
Interest paid | ||
Income taxes paid | ||
Supplemental disclosure of noncash activities | ||
Common stock issued for software license | $ 83,249 | |
Common stock issued for services | 117,500 | |
Issuance of convertible notes payable | 1,269,193 | |
Common stock issued for software | $ 221,000 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 1 - Organization and Description of Business | NOTE 1ORGANIZATION AND DESCRIPTION OF BUSINESS Organization We were organized as a Nevada corporation on August 25, 1999. On August 15, 2014, we entered into an Agreement and Plan of Merger to combine our business and activities (the "Merger") with CannaSys, Inc., a privately held Colorado corporation focused on providing services to the cannabis industry ("CannaSys-Colorado"). CannaSys-Colorado was originally formed on October 4, 2013, as a limited liability company, and converted to a corporation on June 26, 2014. Under the terms of the merger agreement, our wholly owned subsidiary formed to effectuate the Merger was merged with and into CannaSys-Colorado, the surviving entity, which then became our wholly owned subsidiary. Due to the CannaSys-Colorado shareholders controlling us after the Merger, CannaSys-Colorado was considered the accounting acquirer. The transaction was therefore recognized as a reverse acquisition of us by CannaSys-Colorado. The accompanying condensed financial statements are those of CannaSys-Colorado for all periods prior to the Merger. In connection with the closing of the Merger and after meeting the requirements of the Securities Exchange Act of 1934, as amended ("Exchange Act"), on November 12, 2014, we filed amended and restated articles of incorporation with the Nevada Secretary of State that: (i) changed our name to CannaSys, Inc.; (ii) increased our authorized capital stock to 80,000,000 shares, consisting of 75,000,000 shares of common stock and 5,000,000 shares of preferred stock; (iii) authorized 5,000,000 shares of preferred stock; and (iv) made other modernizing, nonmaterial changes to our articles of incorporation. Changing our corporate name to CannaSys, Inc. was a condition to the Merger transaction. The name change better reflects the nature of our principal business operations and it became effective in the OTC market on December 2, 2014, when FINRA announced the name change. We have also received a new CUSIP number and our trading symbol was changed to "MJTK." Nature of Business We provide technology services in the ancillary space of the cannabis industry. We do not produce, sell, or handle in any manner cannabis products. As the current cannabis industry grows and gains momentum around the country, technology needs for the industry have been largely underserved. Our focus on this niche element of the industry creates many efficient and profitable tools for both industry owners and consumers. Since inception, we have developed, refined, and introduced branded products, membership loyalty programs, text-message-based platforms for customer engagement, and laboratory management systems into the cannabis industry. To support marketing and delivery of our principal products and to access other products and services, we are expanding a network of strategic alliances within the industry to build an array of product and service offerings and to increase use of our distribution channels. Most of our active strategic relationships were only recently initiated and are yet to generate revenue. We seek funding to launch our integrated cannabis-industry product and service suite. Our primary business objectives are to generate stable revenues and cash flows through the development of vertically integrated distribution centers and to collect and monetize cannabis consumer data. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | NOTE 2SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Unaudited Interim Financial Information The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These financial statements should be read in conjunction with the audited financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2015. The results of the nine months ended September 30, 2016, are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control, and preventing and detecting fraud. Our system of internal accounting control is designed to assure, among other items, that: (i) recorded transactions are valid; (ii) valid transactions are recorded; and (iii) transactions are recorded in the proper period in a timely manner to produce financial statements that present fairly our financial condition, results of operations, and cash flows for the respective periods being presented. Revenue Recognition We follow Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 605-10-S99-1, Revenue Recognition, Recently Issued Accounting Pronouncements In September 2015, the FASB issued Accounting Standards Update ("ASU") No. 2015-16, Business Combinations (Topic 805). In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Leases (FAS 13) We have reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on our results of operations, financial position, and cash flows. Based on that review, these pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and we do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations. |
Note 3 - Going Concern
Note 3 - Going Concern | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 3 - Going Concern | NOTE 3GOING CONCERN As reflected in the accompanying financial statements, we had a net loss of $3,516,144 and used cash in operating activities of $307,860 for the nine months ended September 30, 2016. We had an accumulated deficit of $9,132,830 as of September 30, 2016. These factors raise substantial doubt about our ability to continue as a going concern. The financial statements have been prepared assuming that we will continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern. While we are attempting to increase operations and revenues, our cash position may not be significant enough to support our daily operations. Management intends to raise additional funds by way of debt and equity financing. Management believes that the actions presently being taken to further implement our business plan and generate increased revenues provide the opportunity for us to continue as a going concern. While we believe in the viability of our strategy to generate increased revenues and in our ability to raise additional funds, there can be no assurances to that effect. Our ability to continue as a going concern is dependent upon our ability to further implement our business plan and generate increased revenues. The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 4 - Property and Equipment | NOTE 4PROPERTY AND EQUIPMENT Furniture, fixtures, and equipment, stated at cost, less accumulated depreciation, consisted of the following: September 30, 2016 December 31, 2015 Furniture, fixtures, and equipment $- $8,403 Software 221,000 - Less: accumulated depreciation (12,412) (3,225) Fixed assets, net $208,588 $5,178 During the nine months ended September 30, 2016, we disposed of $8,403 of office furniture we were no longer using, resulting in a loss on disposal of $3,766. Depreciation Expense Depreciation expense for the nine months ended September 30, 2016 and 2015, was $13,824 and $2,103, respectively. |
Note 5 - Software License
Note 5 - Software License | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 5 - Software License | NOTE 5SOFTWARE LICENSE Effective February 12, 2015, we entered into an exclusive licensing agreement with Loyl.Me LLC, an established provider of automated marketing and customer relationship management software. The licensing agreement allows us the opportunity for perpetual and exclusive rights and ability to provide the cannabis community a convenient, cost-effective, and streamlined technology that is widely used in the non-cannabis industry. The technology is being branded as "BumpUp Rewards." The term of the agreement is perpetual; therefore, no amortization is being recognized. However, the value of the license will undergo an annual impairment test as required by ASC 350, IntangiblesGoodwill and Other The agreement requires nine installment payments of $25,000 each to be paid with a combination of cash and stock and 8% of revenue from the use of the licensed technology . A On October 3, 2016, we entered into an agreement to terminate the license agreement as it was no longer a core part of our daily business operations. Because of the termination, the software license is fully impaired resulting in a loss of $255,000. |
Note 6 - Available For Sale Sec
Note 6 - Available For Sale Securities | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 6 - Available For Sale Securities | NOTE 6AVAILABLE-FOR-SALE SECURITIES On December 10, 2015, we acquired a 1.083% interest in Duby, LLC for $32,500. Duby is a social media application focused on cannabis consumers. As part of the acquisition, Duby plans to assist in the promotion of our products and services on its platform. We purchased the interest in Duby as part of ongoing negotiations for the joint marketing and promotion of our respective products. The purchase is being accounted for according to ASC 320, Debt and Equity Securities |
Note 7 - Investment in Mile Hig
Note 7 - Investment in Mile High Brands | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 7 - Investment in Mile High Brands | NOTE 7INVESTMENT IN MHB On November 10, 2015, we entered into an agreement to exchange 500,000 shares of our common stock for 10 million shares of MHB, Inc., doing business as Mile High Brands ("MHB"). The shares were valued at $5.80 per share, the closing stock price on the date of grant, for a total of $2,900,000 . Debt and Equity Securities A The impact to our financial statements for the nine months ended September 30, 2016, is immaterial as evidenced by the following financial information provided by MHB for the nine months ended September 30, 2016: Nine Months Ended September 30, 2016 Sales revenue $41,629 Cost of sales 15,897 Gross margin 25,372 Operating Expenses: General and administrative 9,466 Total operating expenses 9,466 Income from operations 15,906 Other expense: Interest expense - Total other expense - Net income $15,906 Net income attributed to Cannasys, Inc. $7,794 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 8 - Commitments and Contingencies | NOTE 8COMMITMENTS AND CONTINGENCIES We currently sublease office space in Denver, Colorado. We signed a month-to-month lease starting January 1, 2016. Current lease payments are based on the number of desks occupied not to exceed $1,500 per month. The sublease required a deposit of $1,500, which was paid on January 25, 2016. |
Note 9 - Notes Payable in Defau
Note 9 - Notes Payable in Default | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 9 - Notes Payable in Default | NOTE 9NOTE PAYABLE On February 16, 2016, MHB, Inc. advanced to us $7,500 to pay for certain operating expenses. The loan is unsecured, due on demand, and accrues interest at 10%. As of September 30, 2016, this loan remains outstanding and has accrued interest of $464. Effective March 24, 2016, we issued a promissory note for $33,717 with a former employee pursuant to the terms of the employment separation agreement. The note is unsecured, non-interest-bearing, and repayable according to a specific schedule by September 19, 2016. As of September 30, 2016, the note is past due with a balance of $20,217. On April 27, 2016, we issued a promissory note for $27,000 with Jeff Holmes in conjunction with Mr. Holmes assignment of his note dated June 26, 2015, to Blackbridge Capital, LLC (Note 10). The note included a $25,000 cash payment and a $2,000 original issue discount. The note is unsecured, accrues interest at 1% per annum, and is due and payable on October 26, 2016. In connection with the execution of the promissory note, we also issued a warrant to purchase 5,000 shares of common stock (Note 12). As of September 30, 2016, this note remains outstanding and has accrued interest of $115. |
Note 10 - Notes Payable in Defa
Note 10 - Notes Payable in Default | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 10 - Notes Payable in Default | NOTE 10NOTES PAYABLE IN DEFAULT During the year ended December 31, 2015, we issued four unsecured promissory notes to two accredited investors, B44, LLC and Jeff Holmes, for a total of $200,000 in a private placement of our securities. The notes accrue interest at 1% per annum and were due and payable on March 1, 2016. On April 27, 2016, Jeff Holmes entered into a Note Purchase and Assignment Agreement whereby he assigned his full interest in one of the notes for $50,000 to Blackbridge Capital, LLC. On May 23, 2016, B44, LLC, entered into a Note Purchase and Assignment Agreement whereby it assigned its full interest in one of the notes for $50,000 to Kodiak Capital Group, LLC. On May 31, 2016 B44, LLC, entered into a Note Purchase and Assignment Agreement whereby it assigned its full interest in one of the notes for $50,000 to Black Forest Capital, LLC. As of September 30, 2016, one note for $50,000 remains in default. On January 13, 2016, we issued a promissory note for $75,000 with B44, LLC. The note is unsecured, accrues interest at 1% per annum, and is due and payable on June 30, 2016. In connection with the execution of the promissory note, we also issued a warrant to purchase 11,250 shares of common stock. This note is currently in default. |
Note 11 - Convertible Notes Pay
Note 11 - Convertible Notes Payable | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 11 - Convertible Notes Payable | NOTE 11CONVERTIBLE NOTES PAYABLE The following is a summary of outstanding convertible promissory notes as of December 31, 2015: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 12/31/2015 EMA Financial, LLC 10/14/2015 10/14/2016 10% $ 30,800 Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 60,000 Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 50,000 Auctus Fund, LLC 12/03/2015 09/03/2016 10% 49,250 Adar Bays, LLC 12/10/2015 12/10/2016 8% 35,000 Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 275,050 Less debt discount (122,084) $ 152,966 The following is a summary of outstanding convertible promissory notes as of September 30, 2016: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 9/30/2016 EMA Financial, LLC 10/14/2015 10/14/2016 12% $ 13,736 (1) Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 35,941 (2) Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 46,283 (8) Auctus Fund, LLC 12/03/2015 09/03/2016 10% 35,646 (3) Adar Bays, LLC 12/16/2015 12/16/2016 8% 27,510 (4) Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 Colonial Stock Transfer 01/14/2016 01/14/2017 10% 6,605 Kodiak Capital Group, LLC 03/18/2016 03/18/2017 12% 25,000 (7) Blackbridge Capital, LLC 04/27/2016 10/27/2016 1% 4,500 (5) EMA Financial, LLC 05/05/2016 05/05/2017 12% 53,500 Kodiak Capital Group, LLC 05/23/2016 08/30/2016 1% 50,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 8% 30,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 2% 14,420 (6) Adar Bays, LLC 07/12/2016 04/12/2017 8% 35,000 Auctus Fund, LLC 07/20/2016 04/20/2017 10% 45,750 Kodiak Capital Group, LLC 08/18/2016 08/18/2017 12% 25,000 498,891 Less debt discount (42,797) $456,094 _______________ (1) Converted $19,564 of principal to common stock. (2) Converted $24,059 of principal to common stock. (3) Converted $13,604 of principal to common stock. (4) Converted $7,790 of principal to common stock. (5) Converted $45,500 of principal to common stock. (6) Converted $35,580 of principal to common stock. (7) Principal reduced to $25,000 per agreement dated August 18, 2016. (8) Converted $3,717 of principal to common stock. Accrued interest on the above notes was $24,661 and $6,210 as of September 30, 2016, and December 31, 2015, respectively. Debt discount expense including original issue discounts for the three and nine months ended September 30, 2016, was $86,291 and $502,140, respectively. Carrying value of all convertible notes, net of debt discounts, as of September 30, 2016, and December 31, 2015, is $463,594 and $152,966, respectively. Based on the fair value of the embedded conversion options on the day of issuance, a loss of $418,079 and $907,090 for the three and nine months ended September 30, 2016, was recorded in the statement of operations. |
Note 12 - Stock Warrants
Note 12 - Stock Warrants | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 12 - Stock Warrants | NOTE 12STOCK WARRANTS The warrants issued by us are classified as equity. The fair value of the warrants calculated at the time of vesting was recorded as an increase to additional paid-in-capital. On December 20, 2015, pursuant to the terms of an arrangement with National Concessions Group, Inc., we agreed to issue warrants to purchase 2,500 shares of our common stock per quarter, at a price per share equal to the trailing 60-day volume weighted average price per share of our common stock, every quarter during the six quarters the services were to be provided. As of December 31, 2015, we had issued one warrant for 2,500 shares, with an aggregate fair value of $16,000 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $1.00, stock price of $6.40, 0.8% risk free rate, 848.1% volatility, and expected life of the warrant of 1.4 years. On December 24, 2015, we issued a warrant to purchase 150,000 shares of common stock to Michael Tew, our chief executive officer. As of December 31, 2015, the warrant had vested for 87,500 shares, with an aggregate fair value of $612,500. As of September 30, 2016, the warrant vested for another 25,000 shares, with an aggregate fair value of $175,000. The aggregate fair value is based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $1.00, stock price of $7.00, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On December 24, 2015, we issued a warrant to purchase 25,000 shares of common stock to Brandon Jennewine, our director. The aggregate fair value of the warrant totaled $175,000 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $1.00, stock price of $7.00, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On December 24, 2015, we issued a warrant to purchase 12,500 shares of common stock to Daniel J. Rogers, our director. The aggregate fair value of the warrant totaled $87,500 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $1.00, stock price of $7.00, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On December 24, 2015, we issued a warrant to purchase 7,500 shares of common stock to David Wollins, a former director. As of December 31, 2015, the warrant had vested for 1,875 shares. The aggregate fair value of the vested warrant totaled $13,125 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $1.00, stock price of $7.00, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On March 22, 2016, we accepted the resignation of Mr. Wollins resulting in the cancellation of the warrant for the remaining 5,625 shares. On January 13, 2016, pursuant to the terms of a promissory note with B44, LLC, we issued a warrant to purchase 11,250 shares of common stock. The aggregate fair value of the warrant totaled $69,750 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $1.00, stock price of $6.20, 1.15% risk free rate, 600% volatility, and expected life of the warrant of three years. On February 10, 2016, B44 exercised its right to a cashless conversion of its warrant, for which it received 8,804 shares of common stock. On January 21, 2016, we issued a warrant to purchase 15,625 shares of common stock to KiwiTech, LLC. The aggregate fair value of the warrant totaled $71,875 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $8.00, stock price of $4.60, 2.02% risk free rate, 600% volatility, and expected life of the warrant of 10 years. On January 24, 2016, pursuant to the terms of a consulting agreement, we issued a warrant to purchase 5,000 shares of common stock to Consigliere Inc., with an exercise price of $4.60 per share, that expires January 23, 2017. The aggregate fair value of the warrant totaled $28,967 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $4.60, stock price of $5.80, 0.47% risk free rate, 638% volatility, and expected life of the warrant of one year. On April 28, 2016, pursuant to the terms of a promissory note with Jeff Holmes, we issued a warrant to purchase 5,000 shares of common stock. The aggregate fair value of the warrant totaled $27,000 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $1.00, stock price of $5.40, 0.91% risk free rate, 1,177% volatility, and expected life of the warrant of 2.68 years. Shares Available to Purchase with Warrants Weighted Average Price Weighted Average Fair Value Outstanding, December 31, 2015 210,000 $1.00 $7.00 Issued 36,875 5.60 5.40 Exercised (11,250) - - Cancelled (5,625) - - Expired - - - Outstanding, September 30, 2016 230,000 $1.60 $6.80 Exercisable, September 30, 2016 200,000 $1.80 $6.60 Range of Exercise Prices Number Outstanding 9/30/2016 Weighted Average Remaining Contractual Life Weighted Average Exercise Price $1.00 - $8.00 230,000 2.6 years $1.80 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (deficit) | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 13 - Stockholders' Equity (deficit) | NOTE 13STOCKHOLDERS' EQUITY (DEFICIT) On February 9, 2015, we authorized the issuance of 1,250 shares of common stock per the terms of the licensing agreement with Loyl.Me LLC. The shares were valued at $40.00 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $50,000. On April 10, 2015, we authorized the issuance of 281 shares of common stock per the terms of the licensing agreement with Loyl.Me. The shares were valued at $29.36 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $8,250. On July 10, 2015, we authorized the issuance of 1,202 shares of common stock per the terms of the licensing agreement with Loyl.Me. The shares were valued at $20.80 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $25,000. On October 10, 2015, we authorized the issuance of 3,882 shares of common stock per the terms of the licensing agreement with Loyl.Me. The shares were valued at $6.44 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $25,000. On November 10, 2015, we entered into an agreement to exchange 500,000 shares of our common stock for 10 million shares of MHB, Inc. Through this transaction, we acquired 49% of the issued and outstanding common shares of MHB, Inc. The shares were valued at $5.80 per share, the closing stock price on the date of grant, for a total of $2,900,000 . On January 14, 2016, we granted 2,500 shares of common stock to Convurge, LLC, the successor-in-interest to Loyl.Me LLC, in connection with an amendment to the license agreement. The shares were valued at $5.60 per share, the closing stock price on the date of grant, for a total noncash expense of $14,000 . On February 8, 2016, we issued 1,250 shares of common stock in consideration for accounting services rendered. The shares were valued at $5.00 per share, the closing stock price on the date of grant, for a total noncash expense of $6,250 . On February 11, 2016, we issued 3,125 shares of common stock in consideration for consulting services rendered. The shares were valued at $5.00 per share, the closing stock price on the date of grant, for a total noncash expense of $15,625 . On March 31, 2016, we entered into an Agreement of Termination, Compromise, Settlement and Mutual Release of Claims, with LuvBuds, LLC, Brett Harris, and Tag Distributing LLC, doing business as Consigliere Inc., to resolve, compromise, settle, and dispose of and any and all disputes and claims that existed or may exist among the parties. Pursuant to the terms of the agreement, Mr. Harris retained the stock grant for 15,000 shares of common stock. The shares were valued at $4.40 per share, the closing stock price on the date of grant, for a total noncash expense of $66,000 . On May 23, 2016, we entered into Amendment No. 1 to 10% Convertible Promissory Note of CannaSys to amend the terms of the 10% Convertible Promissory Note of CannaSys, Inc. dated November 18, 2015, with Tangiers Investment Group, LLC. In consideration of Tangiers Investment Group's agreement not to submit a notice of conversion prior to June 10, 2016, we issued a stock grant of 5,000 restricted shares of common stock to Tangiers Investment Group. The shares were valued at $1.20 per share, the closing stock price on the date of grant, for a total noncash expense of $6,000 . The following table reflects the amounts of principal converted, and the corresponding number of shares issued, in connection with outstanding convertible promissory notes during the quarter ended September 30, 2016: Shares Amount Converted Date Note Holder Price Issued Principal Interest 04/29/16 Blackbridge Capital $1.38 16,667 $25,000.00 $ - 05/03/16 EMA Financial LLC 1.50 3,500 5,250.00 - 05/19/16 Blackbridge Capital, LLC 0.02 6,061 (1) - 05/27/16 Blackbridge Capital, LLC 0.02 102,273 (1) - 05/27/16 EMA Financial LLC 0.12 50,000 5,500.00 - 06/03/16 Black Forest Capital. LLC 0.20 50,000 10,000.00 - 06/06/16 Auctus Fund, LLC 0.22 54,703 9,592.30 2,442 06/08/16 Blackbridge Capital, LLC 0.08 100,000 10,000.00 - 06/08/16 EMA Financial LLC 0.06 63,630 3,744.63 - 06/09/16 EMA Financial LLC 0.04 74,330 2,861.69 - 06/09/16 Tangiers Investment Group, LLC 0.08 135,065 10,400.00 - 06/10/16 Auctus Fund 0.08 53,370 4,011.67 98 06/10/16 Black Forest Capital. LLC 0.06 71,429 5,000.00 - 06/10/16 Blackbridge Capital, LLC 0.06 142,857 10,000.00 - 06/13/16 EMA Financial LLC 0.02 100,331 2,207.27 - 06/14/16 Blackbridge Capital, LLC 0.02 81,818 (2) - 06/14/16 Tangiers Investment Group, LLC 0.06 184,298 11,150.00 - 06/15/16 Black Forest Capital. LLC 0.06 90,909 5,000.00 - 06/16/16 Tangiers Investment Group, LLC 0.04 55,632 2,509.00 - 06/17/16 Black Forest Capital. LLC 0.04 122,500 5,022.50 - 06/17/16 Blackbridge Capital, LLC 0.02 101,045 (3) - 06/20/16 Adar Bays LLC 0.04 107,692 4,415.39 - 06/20/16 Blackbridge Capital, LLC 0.02 62,084 (2) - 06/21/16 Black Forest Capital. LLC 0.04 122,500 5,022.50 - 06/22/16 Black Forest Capital. LLC 0.04 135,000 5,535.00 - 06/27/16 Blackbridge Capital, LLC 0.04 12,195 500.00 - 07/08/16 Adar Bays LLC 0.04 75,000 3,075.00 - 07/15/16 Kodiak Capital Group LLC 0.02 158,183 3,717.00 - 2,333,072 $149,513.95 $2,540 _______________ (1) Additional shares issued for the April 29, 2016, conversion. (2) Additional shares issued for the June 8, 2016, conversion. (3) Additional shares issued for the June 10, 2016, conversion. |
Note 14- Preferred Stock
Note 14- Preferred Stock | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 14- Preferred Stock | NOTE 14PREFERRED STOCK On July 27, 2016, we entered into a Share Exchange Agreement to exchange 1,515,000 pre-reverse-split shares of our common stock owned by F-Squared Enterprises, LLC, for 1,515,000 shares of our Series A Preferred Stock. Brandon C. Jennewine, our director, is the sole member of F-Squared Enterprises, LLC. As provided in the terms of the Series A Preferred Stock, upon October 17, 2016, the effective date of our recapitalization, the Series A Preferred Stock was automatically converted into 75,750 shares of common stock. On July 29, 2016, we filed an Amendment to the Articles of Incorporation Designating Rights, Privileges, and Preferences of Series A Preferred Stock with the Nevada Secretary of State respecting 1,515,000 shares of Series A Preferred Stock. The Series A Preferred Stock ranks equal to our common stock respecting the payment of dividends and distribution of assets upon liquidation, dissolution, or winding up. Each share is entitled to 50 votes, voting with the common stock as a single class. |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 9 Months Ended |
Sep. 30, 2016 | |
Notes | |
Note 15 - Subsequent Events | NOTE 15SUBSEQUENT EVENTS In accordance with ASC 855-10, Subsequent Events On October 17, 2016, we completed a recapitalization of our company, consisting of a 20-to-one reverse split and an increase of authorized capitalization to 2,000,000,000 shares of common stock and 5,000,000 shares of preferred stock, par value $0.001. This recapitalization triggered the automatic conversion of the 1,515,000 shares of Series A Preferred Stock to 75,750 shares of common stock. Our amended and restated articles of incorporation authorize us to issue 2,500,000,000 shares of capital stock, consisting of 2,000,000,000 shares of common stock, par value $0.001, and 5,000,000 shares of preferred stock, par value $0.001. On November 1, 2016, we issued 50,000 shares of our common stock to Patrick G. Burke pursuant to a consulting agreement to engage his services as our chief operating officer. The consulting agreement also provides for the issuance of 50,000 shares on January 1, 2017, and 50,000 shares on March 1, 2017. On November 4, 2016, pursuant to a note purchase and assignment agreement dated October 31, 2016, B44 LLC agreed to assign its two promissory notes ($50,000 issued on September 6, 2015 and $75,000 issued on January 13, 2016) to an unaffiliated accredited investor. Under the note purchase and assignment agreement, the accredited investor paid $25,000 to B44 and has the option to purchase B44's remaining interest in the notes in four additional tranches of $25,000 each in its sole discretion. As part of this transaction, we issued a replacement convertible promissory note to the accredited investor that provides for interest at 2% per annum and conversion of any amounts funded by the replacement note into shares of CannaSys common stock in accordance with its terms. The principal sum and related interest due to the holder shall be prorated based on the number of tranches actually acquired by the holder from B44. On November 4, 2016, an accredited investor funded $25,000, the first tranche of an 8% Convertible Promissory Note up to $137,500 under the Securities Purchase Agreement with an accredited investor. We received $23,000, less $2,000 retained by the accredited investor for its legal fees and expenses. The Securities Purchase Agreement and Convertible Promissory Note provide for funding up to $137,500, in tranches of $25,000 each, with additional tranches in the sole discretion of the accredited investor, resulting in funding up to $125,000 with total original issue discounts of $12,500 pro rated per tranche under the note. The outstanding amounts funded under the convertible note are convertible into shares of our common stock in accordance with its terms. Subsequent to September 30, 2016, we issued shares of common stock in conversion of principal on our outstanding convertible notes as follows: Amount Converted Date Note Holder Price Shares Issued Principal Interest 10/07/2016 Kodiak Capital Group LLC $0.007 163,044 $ 222.82 10/17/2016 Auctus Fund LLC 0.000 166,039 2,374.35 10/17/2016 Black Forest Capital, LLC 0.013 174,000 2,262.00 10/18/2016 EMA Financial LLC 0.005 179,800 934.60 10/20/2016 Black Forest Capital, LLC 0.013 190,770 2,480.00 10/21/2016 Black Forest Capital, LLC 0.013 210,000 2,730.00 10/20/2016 Auctus Fund LLC 0.014 174,170 2,490.63 10/21/2016 EMA Financial LLC 0.005 216,450 1,125.54 10/19/2016 Microcap Equity Group LLC 0.013 174,153 2,264.00 10/20/2016 Colonial Stock Transfer 0.012 205,128 2,400.00 10/24/2016 Black Forest Capital, LLC 0.013 239,000 3,107.00 10/24/2016 Microcap Equity Group LLC 0.013 239,230 3,110.00 10/24/2016 Auctus Fund LLC 0.010 239,600 2,491.84 10/25/2016 Black Forest Capital, LLC 0.013 259,000 3,367.00 10/26/2016 Microcap Equity Group LLC 0.013 260,153 3,382.00 10/26/2016 Adar Bays LLC 0.020 250,000 5,000.00 10/26/2016 Auctus Fund LLC 0.010 284,100 2,954.64 10/26/2016 EMA Financial LLC 0.005 293,300 1,525.16 10/27/2016 Microcap Equity Group LLC 0.013 260,153 3,382.00 10/28/2016 Black Forest Capital, LLC 0.013 311,285 4,000.00 10/28/2016 Adar Bays LLC 0.012 342,412 4,150.00 10/28/2016 Microcap Equity Group LLC 0.012 373,913 4,300.00 10/31/2016 Kodiak Capital Group LLC 0.000 171,000 1,453.50 10/31/2016 EMA Financial LLC 0.005 429,213 1,974.38 10/31/2016 Auctus Fund LLC 0.009 374,500 3,445.40 10/31/2016 Adar Bays LLC 0.011 373,913 4,050.00 10/31/2016 Microcap Equity Group LLC 0.012 414,956 4,772.00 10/31/2016 Kodiak Capital Group LLC 0.000 824,694 309.26 11/1/2016 Adar Bays LLC 0.011 469,565 5,150.00 11/2/2016 Black Forest Capital, LLC 0.011 370,000 3,977.50 11/2/2016 EMA Financial LLC 0.004 530,500 2,153.83 11/2/2016 Microcap Equity Group LLC 0.010 512,315 5,200.00 11/2/2016 Adar Bays LLC 0.010 465,116 4,750.00 11/3/2016 Auctus Fund LLC 0.008 374,500 3,040.94 11/3/2016 Adar Bays LLC 0.005 462,264 2,200.00 11/3/2016 Microcap Equity Group LLC 0.000 497,767 (1) 11/4/2016 Tangiers Investment Group, LLC 0.005 1,381,761 6,591.00 11/4/2016 Adar Bays LLC 0.003 664,528 1,750.00 11/4/2016 Black Forest Capital, LLC 0.003 690,000 2,090.33 $1,566.77 11/7/2016 Adar Bays LLC 0.005 513,585 2,472.00 - 11/8/2016 Auctus Fund LLC 0.005 867,000 3,960.91 61.97 11/8/2016 EMA Financial LLC 0.002 895,500 1,898.46 - 11/8/2106 Black Forest Capital, LLC 0.005 301,436 1,593.77 3.84 16,789,813 $122,886.86 $1,632.58 _______________ (1) Additional shares issued for adjustment to prior conversion price. |
Note 2 - Summary of Significa21
Note 2 - Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Policies | |
Basis of Unaudited Interim Financial Information | Basis of Unaudited Interim Financial Information The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These financial statements should be read in conjunction with the audited financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2015. The results of the nine months ended September 30, 2016, are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control, and preventing and detecting fraud. Our system of internal accounting control is designed to assure, among other items, that: (i) recorded transactions are valid; (ii) valid transactions are recorded; and (iii) transactions are recorded in the proper period in a timely manner to produce financial statements that present fairly our financial condition, results of operations, and cash flows for the respective periods being presented. |
Revenue Recognition | Revenue Recognition We follow Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 605-10-S99-1, Revenue Recognition, |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In September 2015, the FASB issued Accounting Standards Update ("ASU") No. 2015-16, Business Combinations (Topic 805). In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Leases (FAS 13) We have reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on our results of operations, financial position, and cash flows. Based on that review, these pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and we do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations. |
Note 4 - Property and Equipme22
Note 4 - Property and Equipment: Schedule of Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Tables/Schedules | |
Schedule of Property and Equipment | Furniture, fixtures, and equipment, stated at cost, less accumulated depreciation, consisted of the following: September 30, 2016 December 31, 2015 Furniture, fixtures, and equipment $- $8,403 Software 221,000 - Less: accumulated depreciation (12,412) (3,225) Fixed assets, net $208,588 $5,178 |
Note 7 - Investment in Mile H23
Note 7 - Investment in Mile High Brands: Schedule of Financial Statements of MHB (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Tables/Schedules | |
Schedule of Financial Statements of MHB | Nine Months Ended September 30, 2016 Sales revenue $41,629 Cost of sales 15,897 Gross margin 25,372 Operating Expenses: General and administrative 9,466 Total operating expenses 9,466 Income from operations 15,906 Other expense: Interest expense - Total other expense - Net income $15,906 Net income attributed to Cannasys, Inc. $7,794 |
Note 11 - Convertible Notes P24
Note 11 - Convertible Notes Payable: Schedule of Short Term Debt and Maturities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Tables/Schedules | |
Schedule of Short Term Debt and Maturities | The following is a summary of outstanding convertible promissory notes as of December 31, 2015: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 12/31/2015 EMA Financial, LLC 10/14/2015 10/14/2016 10% $ 30,800 Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 60,000 Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 50,000 Auctus Fund, LLC 12/03/2015 09/03/2016 10% 49,250 Adar Bays, LLC 12/10/2015 12/10/2016 8% 35,000 Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 275,050 Less debt discount (122,084) $ 152,966 The following is a summary of outstanding convertible promissory notes as of September 30, 2016: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 9/30/2016 EMA Financial, LLC 10/14/2015 10/14/2016 12% $ 13,736 (1) Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 35,941 (2) Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 46,283 (8) Auctus Fund, LLC 12/03/2015 09/03/2016 10% 35,646 (3) Adar Bays, LLC 12/16/2015 12/16/2016 8% 27,510 (4) Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 Colonial Stock Transfer 01/14/2016 01/14/2017 10% 6,605 Kodiak Capital Group, LLC 03/18/2016 03/18/2017 12% 25,000 (7) Blackbridge Capital, LLC 04/27/2016 10/27/2016 1% 4,500 (5) EMA Financial, LLC 05/05/2016 05/05/2017 12% 53,500 Kodiak Capital Group, LLC 05/23/2016 08/30/2016 1% 50,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 8% 30,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 2% 14,420 (6) Adar Bays, LLC 07/12/2016 04/12/2017 8% 35,000 Auctus Fund, LLC 07/20/2016 04/20/2017 10% 45,750 Kodiak Capital Group, LLC 08/18/2016 08/18/2017 12% 25,000 498,891 Less debt discount (42,797) $456,094 _______________ (1) Converted $19,564 of principal to common stock. (2) Converted $24,059 of principal to common stock. (3) Converted $13,604 of principal to common stock. (4) Converted $7,790 of principal to common stock. (5) Converted $45,500 of principal to common stock. (6) Converted $35,580 of principal to common stock. (7) Principal reduced to $25,000 per agreement dated August 18, 2016. (8) Converted $3,717 of principal to common stock. |
Note 12 - Stock Warrants_ Sched
Note 12 - Stock Warrants: Schedule of Warrants, Activity (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Tables/Schedules | |
Schedule of Warrants, Activity | Shares Available to Purchase with Warrants Weighted Average Price Weighted Average Fair Value Outstanding, December 31, 2015 210,000 $1.00 $7.00 Issued 36,875 5.60 5.40 Exercised (11,250) - - Cancelled (5,625) - - Expired - - - Outstanding, September 30, 2016 230,000 $1.60 $6.80 Exercisable, September 30, 2016 200,000 $1.80 $6.60 Range of Exercise Prices Number Outstanding 9/30/2016 Weighted Average Remaining Contractual Life Weighted Average Exercise Price |
Note 13 - Stockholders' Equit26
Note 13 - Stockholders' Equity (deficit): Schedule of Debt Conversions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Tables/Schedules | |
Schedule of Debt Conversions | The following table reflects the amounts of principal converted, and the corresponding number of shares issued, in connection with outstanding convertible promissory notes during the quarter ended September 30, 2016: Shares Amount Converted Date Note Holder Price Issued Principal Interest 04/29/16 Blackbridge Capital $1.38 16,667 $25,000.00 $ - 05/03/16 EMA Financial LLC 1.50 3,500 5,250.00 - 05/19/16 Blackbridge Capital, LLC 0.02 6,061 (1) - 05/27/16 Blackbridge Capital, LLC 0.02 102,273 (1) - 05/27/16 EMA Financial LLC 0.12 50,000 5,500.00 - 06/03/16 Black Forest Capital. LLC 0.20 50,000 10,000.00 - 06/06/16 Auctus Fund, LLC 0.22 54,703 9,592.30 2,442 06/08/16 Blackbridge Capital, LLC 0.08 100,000 10,000.00 - 06/08/16 EMA Financial LLC 0.06 63,630 3,744.63 - 06/09/16 EMA Financial LLC 0.04 74,330 2,861.69 - 06/09/16 Tangiers Investment Group, LLC 0.08 135,065 10,400.00 - 06/10/16 Auctus Fund 0.08 53,370 4,011.67 98 06/10/16 Black Forest Capital. LLC 0.06 71,429 5,000.00 - 06/10/16 Blackbridge Capital, LLC 0.06 142,857 10,000.00 - 06/13/16 EMA Financial LLC 0.02 100,331 2,207.27 - 06/14/16 Blackbridge Capital, LLC 0.02 81,818 (2) - 06/14/16 Tangiers Investment Group, LLC 0.06 184,298 11,150.00 - 06/15/16 Black Forest Capital. LLC 0.06 90,909 5,000.00 - 06/16/16 Tangiers Investment Group, LLC 0.04 55,632 2,509.00 - 06/17/16 Black Forest Capital. LLC 0.04 122,500 5,022.50 - 06/17/16 Blackbridge Capital, LLC 0.02 101,045 (3) - 06/20/16 Adar Bays LLC 0.04 107,692 4,415.39 - 06/20/16 Blackbridge Capital, LLC 0.02 62,084 (2) - 06/21/16 Black Forest Capital. LLC 0.04 122,500 5,022.50 - 06/22/16 Black Forest Capital. LLC 0.04 135,000 5,535.00 - 06/27/16 Blackbridge Capital, LLC 0.04 12,195 500.00 - 07/08/16 Adar Bays LLC 0.04 75,000 3,075.00 - 07/15/16 Kodiak Capital Group LLC 0.02 158,183 3,717.00 - 2,333,072 $149,513.95 $2,540 _______________ (1) Additional shares issued for the April 29, 2016, conversion. (2) Additional shares issued for the June 8, 2016, conversion. (3) Additional shares issued for the June 10, 2016, conversion. |
Note 15 - Subsequent Events_ Sc
Note 15 - Subsequent Events: Schedule of Debt Conversions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Schedule of Debt Conversions | The following table reflects the amounts of principal converted, and the corresponding number of shares issued, in connection with outstanding convertible promissory notes during the quarter ended September 30, 2016: Shares Amount Converted Date Note Holder Price Issued Principal Interest 04/29/16 Blackbridge Capital $1.38 16,667 $25,000.00 $ - 05/03/16 EMA Financial LLC 1.50 3,500 5,250.00 - 05/19/16 Blackbridge Capital, LLC 0.02 6,061 (1) - 05/27/16 Blackbridge Capital, LLC 0.02 102,273 (1) - 05/27/16 EMA Financial LLC 0.12 50,000 5,500.00 - 06/03/16 Black Forest Capital. LLC 0.20 50,000 10,000.00 - 06/06/16 Auctus Fund, LLC 0.22 54,703 9,592.30 2,442 06/08/16 Blackbridge Capital, LLC 0.08 100,000 10,000.00 - 06/08/16 EMA Financial LLC 0.06 63,630 3,744.63 - 06/09/16 EMA Financial LLC 0.04 74,330 2,861.69 - 06/09/16 Tangiers Investment Group, LLC 0.08 135,065 10,400.00 - 06/10/16 Auctus Fund 0.08 53,370 4,011.67 98 06/10/16 Black Forest Capital. LLC 0.06 71,429 5,000.00 - 06/10/16 Blackbridge Capital, LLC 0.06 142,857 10,000.00 - 06/13/16 EMA Financial LLC 0.02 100,331 2,207.27 - 06/14/16 Blackbridge Capital, LLC 0.02 81,818 (2) - 06/14/16 Tangiers Investment Group, LLC 0.06 184,298 11,150.00 - 06/15/16 Black Forest Capital. LLC 0.06 90,909 5,000.00 - 06/16/16 Tangiers Investment Group, LLC 0.04 55,632 2,509.00 - 06/17/16 Black Forest Capital. LLC 0.04 122,500 5,022.50 - 06/17/16 Blackbridge Capital, LLC 0.02 101,045 (3) - 06/20/16 Adar Bays LLC 0.04 107,692 4,415.39 - 06/20/16 Blackbridge Capital, LLC 0.02 62,084 (2) - 06/21/16 Black Forest Capital. LLC 0.04 122,500 5,022.50 - 06/22/16 Black Forest Capital. LLC 0.04 135,000 5,535.00 - 06/27/16 Blackbridge Capital, LLC 0.04 12,195 500.00 - 07/08/16 Adar Bays LLC 0.04 75,000 3,075.00 - 07/15/16 Kodiak Capital Group LLC 0.02 158,183 3,717.00 - 2,333,072 $149,513.95 $2,540 _______________ (1) Additional shares issued for the April 29, 2016, conversion. (2) Additional shares issued for the June 8, 2016, conversion. (3) Additional shares issued for the June 10, 2016, conversion. |
Subsequent Event | |
Schedule of Debt Conversions | Subsequent to September 30, 2016, we issued shares of common stock in conversion of principal on our outstanding convertible notes as follows: Amount Converted Date Note Holder Price Shares Issued Principal Interest 10/07/2016 Kodiak Capital Group LLC $0.007 163,044 $ 222.82 10/17/2016 Auctus Fund LLC 0.000 166,039 2,374.35 10/17/2016 Black Forest Capital, LLC 0.013 174,000 2,262.00 10/18/2016 EMA Financial LLC 0.005 179,800 934.60 10/20/2016 Black Forest Capital, LLC 0.013 190,770 2,480.00 10/21/2016 Black Forest Capital, LLC 0.013 210,000 2,730.00 10/20/2016 Auctus Fund LLC 0.014 174,170 2,490.63 10/21/2016 EMA Financial LLC 0.005 216,450 1,125.54 10/19/2016 Microcap Equity Group LLC 0.013 174,153 2,264.00 10/20/2016 Colonial Stock Transfer 0.012 205,128 2,400.00 10/24/2016 Black Forest Capital, LLC 0.013 239,000 3,107.00 10/24/2016 Microcap Equity Group LLC 0.013 239,230 3,110.00 10/24/2016 Auctus Fund LLC 0.010 239,600 2,491.84 10/25/2016 Black Forest Capital, LLC 0.013 259,000 3,367.00 10/26/2016 Microcap Equity Group LLC 0.013 260,153 3,382.00 10/26/2016 Adar Bays LLC 0.020 250,000 5,000.00 10/26/2016 Auctus Fund LLC 0.010 284,100 2,954.64 10/26/2016 EMA Financial LLC 0.005 293,300 1,525.16 10/27/2016 Microcap Equity Group LLC 0.013 260,153 3,382.00 10/28/2016 Black Forest Capital, LLC 0.013 311,285 4,000.00 10/28/2016 Adar Bays LLC 0.012 342,412 4,150.00 10/28/2016 Microcap Equity Group LLC 0.012 373,913 4,300.00 10/31/2016 Kodiak Capital Group LLC 0.000 171,000 1,453.50 10/31/2016 EMA Financial LLC 0.005 429,213 1,974.38 10/31/2016 Auctus Fund LLC 0.009 374,500 3,445.40 10/31/2016 Adar Bays LLC 0.011 373,913 4,050.00 10/31/2016 Microcap Equity Group LLC 0.012 414,956 4,772.00 10/31/2016 Kodiak Capital Group LLC 0.000 824,694 309.26 11/1/2016 Adar Bays LLC 0.011 469,565 5,150.00 11/2/2016 Black Forest Capital, LLC 0.011 370,000 3,977.50 11/2/2016 EMA Financial LLC 0.004 530,500 2,153.83 11/2/2016 Microcap Equity Group LLC 0.010 512,315 5,200.00 11/2/2016 Adar Bays LLC 0.010 465,116 4,750.00 11/3/2016 Auctus Fund LLC 0.008 374,500 3,040.94 11/3/2016 Adar Bays LLC 0.005 462,264 2,200.00 11/3/2016 Microcap Equity Group LLC 0.000 497,767 (1) 11/4/2016 Tangiers Investment Group, LLC 0.005 1,381,761 6,591.00 11/4/2016 Adar Bays LLC 0.003 664,528 1,750.00 11/4/2016 Black Forest Capital, LLC 0.003 690,000 2,090.33 $1,566.77 11/7/2016 Adar Bays LLC 0.005 513,585 2,472.00 - 11/8/2016 Auctus Fund LLC 0.005 867,000 3,960.91 61.97 11/8/2016 EMA Financial LLC 0.002 895,500 1,898.46 - 11/8/2106 Black Forest Capital, LLC 0.005 301,436 1,593.77 3.84 16,789,813 $122,886.86 $1,632.58 _______________ (1) Additional shares issued for adjustment to prior conversion price. |
Note 1 - Organization and Des28
Note 1 - Organization and Description of Business (Details) - shares | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Nov. 12, 2014 | |
Details | |||
Entity Incorporation, Date of Incorporation | Aug. 25, 1999 | ||
Authorized Capital Stock | 80,000,000 | ||
Common Stock, shares authorized | 75,000,000 | 75,000,000 | 75,000,000 |
Preferred Stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Details | |||||
Net loss | $ (1,666,604) | $ (450,592) | $ (3,516,144) | $ (864,265) | |
Net cash used in operating activities | (307,860) | $ (706,339) | |||
Accumulated deficit | $ (9,132,830) | $ (9,132,830) | $ (5,616,686) |
Note 4 - Property and Equipme30
Note 4 - Property and Equipment: Schedule of Property and Equipment (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Details | ||
Furniture, fixtures, and equipment | $ 0 | $ 8,403 |
Software | 221,000 | 0 |
Less: accumulated depreciation | (12,412) | (3,225) |
Fixed assets, net | $ 208,588 | $ 5,178 |
Note 4 - Property and Equipme31
Note 4 - Property and Equipment (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Office furniture disposed amount | $ 8,403 | |
Depreciation Expense | 13,824 | $ 2,103 |
Furniture and Fixtures | ||
Loss on Disposition of Property Plant Equipment | $ 3,766 |
Note 5 - Software License (Deta
Note 5 - Software License (Details) - Loyl.Me | 9 Months Ended |
Sep. 30, 2016USD ($) | |
License agreement payment terms | The agreement requires nine installment payments of $25,000 each to be paid with a combination of cash and stock and 8% of revenue from the use of the licensed technology |
Common Stock | |
Payments for Software | $ 255,000 |
Note 6 - Available For Sale S33
Note 6 - Available For Sale Securities (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Available for sale securities | $ 32,500 | $ 32,500 |
Duby, LLC | ||
Business Acquisition, Percentage of Voting Interests Acquired | 1.08% | |
Available for sale securities | $ 32,500 |
Note 7 - Investment in Mile H34
Note 7 - Investment in Mile High Brands (Details) - USD ($) | Nov. 10, 2015 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2016 | Nov. 11, 2015 |
Impairment loss on investment | $ (599,475) | ||||
Mile High Brands | |||||
Shares purchased | 10,000,000 | ||||
Stock price | $ 5.80 | $ 5.80 | |||
Value of Original Investment | $ 2,900,000 | $ 2,900,000 | |||
Business Acquisition, Percentage of Voting Interests Acquired | 49.00% | 49.00% | |||
Investment at fair value | 450,000 | $ 1,049,475 | $ 450,000 | ||
Impairment loss on investment | $ 599,475 | $ 1,846,515 | $ 2,445,990 | ||
Mile High Brands | Common Stock | |||||
Shares Issued | 500,000 |
Note 7 - Investment in Mile H35
Note 7 - Investment in Mile High Brands: Schedule of Financial Statements of MHB (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Sales revenue | $ 499 | $ 48,156 | $ 59,150 | $ 76,404 |
Cost of goods sold | 6,800 | 24,260 | 10,018 | |
Gross Margin | 499 | 41,356 | 34,890 | 66,386 |
Operating Expenses: | ||||
General and administrative | 68,240 | 96,394 | 198,261 | 200,585 |
Total Operating Expenses | 331,743 | 490,538 | 1,294,359 | 928,563 |
Loss from Operations | (331,244) | (449,182) | (1,259,469) | (862,177) |
Other Expenses | ||||
Interest expense | 12,749 | 1,410 | 29,204 | 2,088 |
Total other expense | 1,335,360 | 1,410 | 2,256,675 | 2,088 |
Net loss | $ (1,666,604) | $ (450,592) | (3,516,144) | $ (864,265) |
Mile High Brands | ||||
Sales revenue | 41,629 | |||
Cost of goods sold | 15,897 | |||
Gross Margin | 25,372 | |||
Operating Expenses: | ||||
General and administrative | 9,466 | |||
Total Operating Expenses | 9,466 | |||
Loss from Operations | 15,906 | |||
Other Expenses | ||||
Interest expense | 0 | |||
Total other expense | 0 | |||
Net loss | 15,906 | |||
Net income attributed to Cannasys, Inc. | $ 7,794 |
Note 8 - Commitments and Cont36
Note 8 - Commitments and Contingencies (Details) - Office Space | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Periodic Payment Amount | $ 1,500 |
Deposit Assets | $ 1,500 |
Note 9 - Notes Payable in Def37
Note 9 - Notes Payable in Default (Details) - USD ($) | 9 Months Ended | |||||
Sep. 30, 2016 | Apr. 28, 2016 | Apr. 27, 2016 | Mar. 24, 2016 | Feb. 16, 2016 | Dec. 31, 2015 | |
Interest Payable, Current | $ 24,661 | $ 6,210 | ||||
Convertible notes payable, discount | 42,797 | $ 122,084 | ||||
Mile High Brands | ||||||
Debt Instrument, Face Amount | $ 7,500 | |||||
Stated Interest Rate | 10.00% | |||||
Interest Payable, Current | 464 | |||||
Former Employee | ||||||
Debt Instrument, Face Amount | $ 33,717 | |||||
Principal Balance Outstanding | 20,217 | |||||
Jeff Holmes | ||||||
Debt Instrument, Face Amount | $ 27,000 | |||||
Stated Interest Rate | 1.00% | |||||
Interest Payable, Current | 115 | |||||
Proceeds from Notes Payable | $ 25,000 | |||||
Convertible notes payable, discount | $ 2,000 | |||||
Maturity Date | Oct. 26, 2016 | |||||
Class of Warrant, Outstanding | 5,000 | 5,000 |
Note 10 - Notes Payable in De38
Note 10 - Notes Payable in Default (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Jan. 13, 2016 | |
Blackbridge Capital LLC | ||
Stated Interest Rate | 1.00% | |
Maturity Date | Oct. 27, 2016 | |
B44 | ||
Stated Interest Rate | 1.00% | |
Maturity Date | Jun. 30, 2016 | |
Debt Instrument, Face Amount | $ 75,000 | |
Class of Warrant, Outstanding | 11,250 | |
Note Purchase and Assignment Agreement | Blackbridge Capital LLC | ||
Debt Conversion, Converted Instrument, Amount | $ 50,000 | |
Note Purchase and Assignment Agreement | Kodiak Capital | ||
Debt Conversion, Converted Instrument, Amount | 50,000 | |
Note Purchase and Assignment Agreement | Black Forest Capital LLC | ||
Debt Conversion, Converted Instrument, Amount | 50,000 | |
Note Purchase and Assignment Agreement | B44 | ||
Debt Default, Short-term Debt, Amount | 50,000 | |
Notes Payable in Default | ||
Debt Default, Short-term Debt, Amount | $ 200,000 | |
Stated Interest Rate | 1.00% | |
Maturity Date | Mar. 1, 2016 |
Note 11 - Convertible Notes P39
Note 11 - Convertible Notes Payable: Schedule of Short Term Debt and Maturities (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | Aug. 18, 2016 | |
Convertible Notes Payable Gross | $ 498,891 | $ 275,050 | |
Less debt discount | (42,797) | (122,084) | |
Convertible notes payable, net of discount of $42,797 and $122,084, respectively | $ 456,094 | $ 152,966 | |
EMA Financial, LLC | 10/14/2015 Note | |||
Issue Date | Oct. 14, 2015 | Oct. 14, 2015 | |
Maturity Date | Oct. 14, 2016 | Oct. 14, 2016 | |
Stated Interest Rate | 12.00% | 10.00% | |
Principal Balance Outstanding | $ 13,736 | $ 30,800 | |
Amount Converted | 19,564 | ||
Principal Balance Outstanding | $ 13,736 | $ 30,800 | |
EMA Financial, LLC | 5/5/2016 Note | |||
Issue Date | May 5, 2016 | ||
Maturity Date | May 5, 2017 | ||
Stated Interest Rate | 12.00% | ||
Principal Balance Outstanding | $ 53,500 | ||
Principal Balance Outstanding | $ 53,500 | ||
Tangiers Investment Group, LLC | |||
Issue Date | Nov. 18, 2015 | Nov. 18, 2015 | |
Maturity Date | Nov. 19, 2016 | Nov. 19, 2016 | |
Stated Interest Rate | 10.00% | 10.00% | |
Principal Balance Outstanding | $ 35,941 | $ 60,000 | |
Amount Converted | 24,059 | ||
Principal Balance Outstanding | $ 35,941 | $ 60,000 | |
Kodiak Capital | 11/30/2015 Note | |||
Issue Date | Nov. 30, 2015 | Nov. 30, 2015 | |
Maturity Date | Dec. 1, 2016 | Dec. 1, 2016 | |
Stated Interest Rate | 12.00% | 12.00% | |
Principal Balance Outstanding | $ 46,283 | $ 50,000 | |
Amount Converted | 3,717 | ||
Principal Balance Outstanding | $ 46,283 | $ 50,000 | |
Kodiak Capital | 12/15/2015 Note | |||
Issue Date | Dec. 15, 2015 | Dec. 15, 2015 | |
Maturity Date | Jul. 15, 2016 | Jul. 15, 2016 | |
Stated Interest Rate | 0.00% | 0.00% | |
Principal Balance Outstanding | $ 50,000 | $ 50,000 | |
Principal Balance Outstanding | $ 50,000 | $ 50,000 | |
Kodiak Capital | 3/18/2016 Note | |||
Issue Date | Mar. 18, 2016 | ||
Maturity Date | Mar. 18, 2017 | ||
Stated Interest Rate | 12.00% | ||
Principal Balance Outstanding | $ 25,000 | $ 25,000 | |
Principal Balance Outstanding | $ 25,000 | $ 25,000 | |
Kodiak Capital | 5/23/2016 Note | |||
Issue Date | May 23, 2016 | ||
Maturity Date | Aug. 30, 2016 | ||
Stated Interest Rate | 1.00% | ||
Principal Balance Outstanding | $ 50,000 | ||
Principal Balance Outstanding | $ 50,000 | ||
Kodiak Capital | 8/18/2016 Note | |||
Issue Date | Aug. 18, 2016 | ||
Maturity Date | Aug. 18, 2017 | ||
Stated Interest Rate | 12.00% | ||
Principal Balance Outstanding | $ 25,000 | ||
Principal Balance Outstanding | 25,000 | ||
Auctus Fund, LLC | |||
Amount Converted | $ 13,604 | ||
Auctus Fund, LLC | 12/3/2015 Note | |||
Issue Date | Dec. 3, 2015 | Dec. 3, 2015 | |
Maturity Date | Sep. 3, 2016 | Sep. 3, 2016 | |
Stated Interest Rate | 10.00% | 10.00% | |
Principal Balance Outstanding | $ 35,646 | $ 49,250 | |
Principal Balance Outstanding | $ 35,646 | $ 49,250 | |
Auctus Fund, LLC | 7/20/2016 Note | |||
Issue Date | Jul. 20, 2016 | ||
Maturity Date | Apr. 20, 2017 | ||
Stated Interest Rate | 10.00% | ||
Principal Balance Outstanding | $ 45,750 | ||
Principal Balance Outstanding | 45,750 | ||
Adar Bays, LLC | |||
Issue Date | Dec. 10, 2015 | ||
Maturity Date | Dec. 10, 2016 | ||
Stated Interest Rate | 8.00% | ||
Principal Balance Outstanding | $ 35,000 | ||
Amount Converted | $ 7,790 | ||
Principal Balance Outstanding | $ 35,000 | ||
Adar Bays, LLC | 12/16/2015 Note | |||
Issue Date | Dec. 16, 2015 | ||
Maturity Date | Dec. 16, 2016 | ||
Stated Interest Rate | 8.00% | ||
Principal Balance Outstanding | $ 27,510 | ||
Principal Balance Outstanding | $ 27,510 | ||
Adar Bays, LLC | 7/12/2016 Note | |||
Issue Date | Jul. 12, 2016 | ||
Maturity Date | Apr. 12, 2017 | ||
Stated Interest Rate | 8.00% | ||
Principal Balance Outstanding | $ 35,000 | ||
Principal Balance Outstanding | $ 35,000 | ||
Colonial Stock Transfer | |||
Issue Date | Jan. 14, 2016 | ||
Maturity Date | Jan. 14, 2017 | ||
Stated Interest Rate | 10.00% | ||
Principal Balance Outstanding | $ 6,605 | ||
Principal Balance Outstanding | $ 6,605 | ||
Blackbridge Capital LLC | |||
Issue Date | Apr. 27, 2016 | ||
Maturity Date | Oct. 27, 2016 | ||
Stated Interest Rate | 1.00% | ||
Principal Balance Outstanding | $ 4,500 | ||
Amount Converted | 45,500 | ||
Principal Balance Outstanding | $ 4,500 | ||
Black Forest Capital LLC | 5/31/2016 Note 1 | |||
Issue Date | May 31, 2016 | ||
Maturity Date | May 31, 2017 | ||
Stated Interest Rate | 8.00% | ||
Principal Balance Outstanding | $ 30,000 | ||
Principal Balance Outstanding | $ 30,000 | ||
Black Forest Capital LLC | 5/31/2016 Note 2 | |||
Issue Date | May 31, 2016 | ||
Maturity Date | May 31, 2017 | ||
Stated Interest Rate | 2.00% | ||
Principal Balance Outstanding | $ 14,420 | ||
Amount Converted | 35,580 | ||
Principal Balance Outstanding | $ 14,420 |
Note 11 - Convertible Notes P40
Note 11 - Convertible Notes Payable (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |
Details | |||
Interest Payable, Current | $ 24,661 | $ 24,661 | $ 6,210 |
Amortization of debt discount | 86,291 | 502,140 | |
Loss on issuance of convertible debt | $ (418,079) | $ (907,090) |
Note 12 - Stock Warrants (Detai
Note 12 - Stock Warrants (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Dec. 31, 2015 | Sep. 30, 2016 | Apr. 28, 2016 | Apr. 27, 2016 | Jan. 24, 2016 | Jan. 21, 2016 | Jan. 13, 2016 | Dec. 24, 2015 | Dec. 20, 2015 | |
Chief Executive Officer | |||||||||
Class of Warrant, Outstanding | 150,000 | ||||||||
Risk free rate | 1.33% | ||||||||
Director 1 | |||||||||
Class of Warrant, Outstanding | 25,000 | ||||||||
Director 2 | |||||||||
Class of Warrant, Outstanding | 12,500 | ||||||||
Director 3 | |||||||||
Class of Warrant, Outstanding | 7,500 | ||||||||
Warrant | |||||||||
Cancelled | 5,625 | ||||||||
Exercise Price Range, Lower Range Limit | $ 1 | ||||||||
Exercise Price Range, Upper Range Limit | $ 8 | ||||||||
Weighted Average Remaining Contractual Life | 2 years 7 months 6 days | ||||||||
Warrant | Chief Executive Officer | |||||||||
Warrants vested | 87,500 | 25,000 | |||||||
Fair value vested | $ 612,500 | $ 175,000 | |||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 1 | ||||||||
Stock price | $ 7 | ||||||||
Volatility rate | 842.00% | ||||||||
Warrant | Director 1 | |||||||||
Fair value vested | $ 175,000 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 1 | ||||||||
Stock price | $ 7 | ||||||||
Risk free rate | 1.33% | ||||||||
Volatility rate | 842.00% | ||||||||
Expected life | 3 years | ||||||||
Warrant | Director 2 | |||||||||
Fair value vested | $ 87,500 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 1 | ||||||||
Stock price | $ 7 | ||||||||
Risk free rate | 1.33% | ||||||||
Volatility rate | 842.00% | ||||||||
Expected life | 3 years | ||||||||
Warrant | Director 3 | |||||||||
Warrants vested | 1,875 | ||||||||
Fair value vested | $ 13,125 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 1 | ||||||||
Stock price | $ 7 | ||||||||
Risk free rate | 1.33% | ||||||||
Volatility rate | 842.00% | ||||||||
Expected life | 3 years | ||||||||
Cancelled | 5,625 | ||||||||
National Concessions Group, Inc | |||||||||
Class of Warrant, Outstanding | 2,500 | ||||||||
National Concessions Group, Inc | Warrant | |||||||||
Warrants vested | 2,500 | ||||||||
Fair value vested | $ 16,000 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 1 | ||||||||
Stock price | $ 6.40 | ||||||||
Risk free rate | 0.80% | ||||||||
Volatility rate | 848.10% | ||||||||
Expected life | 1 year 4 months 24 days | ||||||||
B44 | |||||||||
Class of Warrant, Outstanding | 11,250 | ||||||||
B44 | Warrant | |||||||||
Fair value vested | $ 69,750 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 1 | ||||||||
Stock price | $ 6.20 | ||||||||
Risk free rate | 1.15% | ||||||||
Volatility rate | 600.00% | ||||||||
Expected life | 3 years | ||||||||
B44 | Common Stock | |||||||||
Stock Issued During Period, Shares, New Issues | 8,804 | ||||||||
KiwiTech, LLC | |||||||||
Class of Warrant, Outstanding | 15,625 | ||||||||
KiwiTech, LLC | Warrant | |||||||||
Fair value vested | $ 71,875 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 8 | ||||||||
Stock price | $ 4.60 | ||||||||
Risk free rate | 2.02% | ||||||||
Volatility rate | 600.00% | ||||||||
Expected life | 10 years | ||||||||
Consigliere Inc | |||||||||
Class of Warrant, Outstanding | 5,000 | ||||||||
Consigliere Inc | Warrant | |||||||||
Fair value vested | $ 28,967 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 4.60 | ||||||||
Stock price | $ 5.80 | ||||||||
Risk free rate | 0.47% | ||||||||
Volatility rate | 638.00% | ||||||||
Expected life | 1 year | ||||||||
Jeff Holmes | |||||||||
Class of Warrant, Outstanding | 5,000 | 5,000 | |||||||
Jeff Holmes | Warrant | |||||||||
Fair value vested | $ 27,000 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 1 | ||||||||
Stock price | $ 5.40 | ||||||||
Risk free rate | 0.91% | ||||||||
Volatility rate | 1177.00% | ||||||||
Expected life | 2 years 8 months 5 days |
Note 12 - Stock Warrants_ Sch42
Note 12 - Stock Warrants: Schedule of Warrants, Activity (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016$ / sharesshares | Dec. 31, 2014$ / shares | |
Expired, Weighted Average Fair value | $ 0 | |
Warrant | ||
Warrants, Outstanding, Beginning Balance | shares | 210,000 | |
Outstanding, Weighted Average Exercise Price, Starting Balance | $ 1 | |
Outstanding, Weighted Average Fair Value | $ 6.80 | $ 7 |
Issued | shares | 36,875 | |
Issued, Weighted Average Exercise Price | $ 5.60 | |
Issued, Weighted Average Fair value | $ 5.40 | |
Exercised | shares | (11,250) | |
Exercised, Weighted Average Exercise Price | $ 0 | |
Exercised, Weighted Average Fair value | $ 0 | |
Cancelled | shares | (5,625) | |
Cancelled, Weighted Average Exercise Price | $ 0 | |
Cancelled, Weighted Average Fair value | $ 0 | |
Expired | shares | 0 | |
Expired, Weighted Average Exercise Price | $ 0 | |
Warrants, Outstanding, Ending Balance | shares | 230,000 | |
Outstanding, Weighted Average Exercise Price, Ending Balance | $ 1.60 | |
Exercisable | 200,000 | |
Exercisable, Weighted Average Exercise Price | $ 1.80 | |
Exercisable, Weighted Average Fair Value | $ 6.60 |
Note 13 - Stockholders' Equit43
Note 13 - Stockholders' Equity (deficit) (Details) - USD ($) | Nov. 10, 2015 | Oct. 31, 2015 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2016 | May 23, 2016 | Feb. 11, 2016 | Feb. 08, 2016 | Jan. 14, 2016 | Nov. 11, 2015 | Oct. 10, 2015 | Jul. 10, 2015 | Apr. 10, 2015 | Feb. 09, 2015 |
Stock-based compensation expense | $ 119,125 | $ 604,592 | ||||||||||||||||
Accounting Services Rendered | ||||||||||||||||||
Stock price | $ 5 | |||||||||||||||||
Stock-based compensation expense | $ 6,250 | |||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 1,250 | |||||||||||||||||
Consulting Services Rendered | ||||||||||||||||||
Stock price | $ 5 | |||||||||||||||||
Stock-based compensation expense | $ 15,625 | |||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 3,125 | |||||||||||||||||
Loyl.Me | ||||||||||||||||||
Stock price | $ 6.44 | $ 20.80 | $ 29.36 | $ 40 | ||||||||||||||
Stock-based compensation expense | $ 25,000 | $ 25,000 | $ 8,250 | $ 50,000 | ||||||||||||||
Loyl.Me | Common Stock | ||||||||||||||||||
Stock Issued During Period, Shares, License Agreement | 3,882 | 1,202 | 281 | 1,250 | ||||||||||||||
Mile High Brands | ||||||||||||||||||
Stock price | $ 5.80 | $ 5.80 | ||||||||||||||||
Shares purchased | 10,000,000 | |||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 49.00% | 49.00% | ||||||||||||||||
Value of Original Investment | $ 2,900,000 | $ 2,900,000 | ||||||||||||||||
Mile High Brands | Common Stock | ||||||||||||||||||
Shares Issued | 500,000 | |||||||||||||||||
Convurge, LLC | ||||||||||||||||||
Stock Issued During Period, Shares, License Agreement | 2,500 | |||||||||||||||||
Stock price | $ 5.60 | |||||||||||||||||
Stock-based compensation expense | $ 14,000 | |||||||||||||||||
Brett Harris | ||||||||||||||||||
Stock Issued During Period, Shares, License Agreement | 15,000 | |||||||||||||||||
Stock price | $ 4.40 | |||||||||||||||||
Stock-based compensation expense | $ 66,000 | |||||||||||||||||
Tangiers Investment Group, LLC | ||||||||||||||||||
Stock price | $ 1.20 | |||||||||||||||||
Stock-based compensation expense | $ 6,000 | |||||||||||||||||
Tangiers Investment Group, LLC | Common Stock | Delay of Debt Conversion | ||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 5,000 |
Note 13 - Stockholders' Equit44
Note 13 - Stockholders' Equity (deficit): Schedule of Debt Conversions (Details) | 9 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Principal | |
Amount Converted | $ 149,513.95 |
Interest | |
Amount Converted | $ 2,540 |
Common Stock | |
Shares Issued | shares | 2,333,072 |
Blackbridge Capital LLC | |
Amount Converted | $ 45,500 |
Auctus Fund, LLC | |
Amount Converted | 13,604 |
Tangiers Investment Group, LLC | |
Amount Converted | 24,059 |
Adar Bays, LLC | |
Amount Converted | $ 7,790 |
4/29/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 1.38 |
4/29/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 25,000 |
4/29/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
4/29/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 16,667 |
5/19/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.02 |
5/19/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
5/19/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 6,061 |
5/19/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 1.50 |
5/19/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 5,250 |
5/19/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
5/19/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 3,500 |
5/27/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.02 |
5/27/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
5/27/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 102,273 |
5/27/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.12 |
5/27/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 5,500 |
5/27/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
5/27/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 50,000 |
6/3/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.20 |
6/3/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 10,000 |
6/3/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/3/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 50,000 |
6/6/2016 | Auctus Fund, LLC | |
Price | $ / shares | $ 0.22 |
6/6/2016 | Auctus Fund, LLC | Principal | |
Amount Converted | $ 9,592.30 |
6/6/2016 | Auctus Fund, LLC | Interest | |
Amount Converted | $ 2,442 |
6/6/2016 | Auctus Fund, LLC | Common Stock | |
Shares Issued | shares | 54,703 |
6/8/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.08 |
6/8/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 10,000 |
6/8/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/8/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 100,000 |
6/8/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.06 |
6/8/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 3,744.63 |
6/8/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
6/8/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 63,630 |
6/9/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.04 |
6/9/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 2,861.69 |
6/9/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
6/9/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 74,330 |
6/9/2016 | Tangiers Investment Group, LLC | |
Price | $ / shares | $ 0.08 |
6/9/2016 | Tangiers Investment Group, LLC | Principal | |
Amount Converted | $ 10,400 |
6/9/2016 | Tangiers Investment Group, LLC | Interest | |
Amount Converted | $ 0 |
6/9/2016 | Tangiers Investment Group, LLC | Common Stock | |
Shares Issued | shares | 135,065 |
6/10/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.06 |
6/10/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 10,000 |
6/10/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/10/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 142,857 |
6/10/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.06 |
6/10/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,000 |
6/10/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/10/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 71,429 |
6/10/2016 | Auctus Fund, LLC | |
Price | $ / shares | $ 0.08 |
6/10/2016 | Auctus Fund, LLC | Principal | |
Amount Converted | $ 4,011.67 |
6/10/2016 | Auctus Fund, LLC | Interest | |
Amount Converted | $ 98 |
6/10/2016 | Auctus Fund, LLC | Common Stock | |
Shares Issued | shares | 53,370 |
6/13/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.02 |
6/13/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 2,207.27 |
6/13/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
6/13/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 100,331 |
6/14/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.02 |
6/14/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/14/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 81,818 |
6/14/2016 | Tangiers Investment Group, LLC | |
Price | $ / shares | $ 0.06 |
6/14/2016 | Tangiers Investment Group, LLC | Principal | |
Amount Converted | $ 11,150 |
6/14/2016 | Tangiers Investment Group, LLC | Interest | |
Amount Converted | $ 0 |
6/14/2016 | Tangiers Investment Group, LLC | Common Stock | |
Shares Issued | shares | 184,298 |
6/15/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.06 |
6/15/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,000 |
6/15/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/15/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 90,909 |
6/16/2016 | Tangiers Investment Group, LLC | |
Price | $ / shares | $ 0.04 |
6/16/2016 | Tangiers Investment Group, LLC | Principal | |
Amount Converted | $ 2,509 |
6/16/2016 | Tangiers Investment Group, LLC | Interest | |
Amount Converted | $ 0 |
6/16/2016 | Tangiers Investment Group, LLC | Common Stock | |
Shares Issued | shares | 55,632 |
6/17/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.02 |
6/17/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/17/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 101,045 |
6/17/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.04 |
6/17/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,022.50 |
6/17/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/17/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 122,500 |
6/20/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.02 |
6/20/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/20/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 62,084 |
6/20/2016 | Adar Bays, LLC | |
Price | $ / shares | $ 0.04 |
6/20/2016 | Adar Bays, LLC | Principal | |
Amount Converted | $ 4,415.39 |
6/20/2016 | Adar Bays, LLC | Interest | |
Amount Converted | $ 0 |
6/20/2016 | Adar Bays, LLC | Common Stock | |
Shares Issued | shares | 107,692 |
6/21/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.04 |
6/21/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,022.50 |
6/21/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/21/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 122,500 |
6/22/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.04 |
6/22/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,535 |
6/22/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/22/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 135,000 |
6/27/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.04 |
6/27/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 500 |
6/27/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/27/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 12,195 |
7/8/2016 | Adar Bays, LLC | |
Price | $ / shares | $ 0.04 |
7/8/2016 | Adar Bays, LLC | Principal | |
Amount Converted | $ 3,075 |
7/8/2016 | Adar Bays, LLC | Interest | |
Amount Converted | $ 0 |
7/8/2016 | Adar Bays, LLC | Common Stock | |
Shares Issued | shares | 75,000 |
7/15/2016 | Kodiak Capital | |
Price | $ / shares | $ 0.02 |
7/15/2016 | Kodiak Capital | Principal | |
Amount Converted | $ 3,717 |
7/15/2016 | Kodiak Capital | Interest | |
Amount Converted | $ 0 |
7/15/2016 | Kodiak Capital | Common Stock | |
Shares Issued | shares | 158,183 |
Note 14- Preferred Stock (Detai
Note 14- Preferred Stock (Details) - F-Squared Enterprises LLC - shares | Oct. 17, 2016 | Jul. 27, 2016 |
Common Stock | ||
Conversion of Stock, Shares Converted | 1,515,000 | |
Conversion of Stock, Shares Issued | 75,750 | |
Series A Preferred Stock | ||
Conversion of Stock, Shares Issued | 1,515,000 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details) - USD ($) | Nov. 04, 2016 | Nov. 01, 2016 | Oct. 17, 2016 | Jul. 27, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Nov. 12, 2014 |
Common Stock, shares authorized | 75,000,000 | 75,000,000 | 75,000,000 | ||||
Preferred Stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | ||||
F-Squared Enterprises LLC | Common Stock | |||||||
Conversion of Stock, Shares Converted | 1,515,000 | ||||||
Conversion of Stock, Shares Issued | 75,750 | ||||||
Subsequent Event | |||||||
Stockholders' Equity, Reverse Stock Split | 20-to-one reverse split | ||||||
Common Stock, shares authorized | 2,000,000,000 | ||||||
Preferred Stock, shares authorized | 5,000,000 | ||||||
Stock Issued During Period, Shares, Issued for Services | 50,000 | ||||||
Subsequent Event | F-Squared Enterprises LLC | Common Stock | |||||||
Conversion of Stock, Shares Converted | 1,515,000 | ||||||
Conversion of Stock, Shares Issued | 75,750 | ||||||
Subsequent Event | Accredited Investor Note Purchase | |||||||
Debt Instrument, Convertible, Terms of Conversion Feature | On November 4, 2016, pursuant to a note purchase and assignment agreement dated October 31, 2016, B44 LLC agreed to assign its two promissory notes ($50,000 issued on September 6, 2015 and $75,000 issued on January 13, 2016) to an unaffiliated accredited investor. Under the note purchase and assignment agreement, the accredited investor paid $25,000 to B44 and has the option to purchase B44's remaining interest in the notes in four additional tranches of $25,000 each in its sole discretion. As part of this transaction, we issued a replacement convertible promissory note to the accredited investor that provides for interest at 2% per annum and conversion of any amounts funded by the replacement note into shares of CannaSys common stock in accordance with its terms. The principal sum and related interest due to the holder shall be prorated based on the number of tranches actually acquired by the holder from B44. | ||||||
Subsequent Event | Accredited Investor | |||||||
Proceeds from Issuance of Debt | $ 25,000 | ||||||
Stated Interest Rate | 8.00% | ||||||
Debt Instrument, Face Amount | $ 137,500 | ||||||
Debt Instrument, Description | We received $23,000, less $2,000 retained by the accredited investor for its legal fees and expenses. The Securities Purchase Agreement and Convertible Promissory Note provide for funding up to $137,500, in tranches of $25,000 each, with additional tranches in the sole discretion of the accredited investor, resulting in funding up to $125,000 with total original issue discounts of $12,500 pro rated per tranche under the note. The outstanding amounts funded under the convertible note are convertible into shares of our common stock in accordance with its terms. |
Note 15 - Subsequent Events_ 47
Note 15 - Subsequent Events: Schedule of Debt Conversions (Details) - USD ($) | 2 Months Ended | 9 Months Ended |
Nov. 18, 2016 | Sep. 30, 2016 | |
Principal | ||
Amount Converted | $ 149,513.95 | |
Interest | ||
Amount Converted | $ 2,540 | |
Common Stock | ||
Shares Issued | 2,333,072 | |
Auctus Fund, LLC | ||
Amount Converted | $ 13,604 | |
Adar Bays, LLC | ||
Amount Converted | 7,790 | |
Tangiers Investment Group, LLC | ||
Amount Converted | $ 24,059 | |
Subsequent Event | Principal | ||
Amount Converted | $ 122,886.86 | |
Subsequent Event | Interest | ||
Amount Converted | $ 1,632.58 | |
Subsequent Event | Common Stock | ||
Shares Issued | 16,789,813 | |
Subsequent Event | 10/7/2016 | Kodiak Capital | ||
Price | $ 0.007 | |
Subsequent Event | 10/7/2016 | Kodiak Capital | Principal | ||
Amount Converted | $ 222.82 | |
Subsequent Event | 10/7/2016 | Kodiak Capital | Common Stock | ||
Shares Issued | 163,044 | |
Subsequent Event | 10/17/2016 | Auctus Fund, LLC | ||
Price | $ 0 | |
Subsequent Event | 10/17/2016 | Auctus Fund, LLC | Principal | ||
Amount Converted | $ 2,374.35 | |
Subsequent Event | 10/17/2016 | Auctus Fund, LLC | Common Stock | ||
Shares Issued | 166,039 | |
Subsequent Event | 10/17/2016 | Black Forest Capital LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/17/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 2,262 | |
Subsequent Event | 10/17/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 174,000 | |
Subsequent Event | 10/18/2016 | EMA Financial, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 10/18/2016 | EMA Financial, LLC | Principal | ||
Amount Converted | $ 934.60 | |
Subsequent Event | 10/18/2016 | EMA Financial, LLC | Common Stock | ||
Shares Issued | 179,800 | |
Subsequent Event | 10/20/2016 | Auctus Fund, LLC | ||
Price | $ 0.014 | |
Subsequent Event | 10/20/2016 | Auctus Fund, LLC | Principal | ||
Amount Converted | $ 2,490.63 | |
Subsequent Event | 10/20/2016 | Auctus Fund, LLC | Common Stock | ||
Shares Issued | 174,170 | |
Subsequent Event | 10/20/2016 | Black Forest Capital LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/20/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 2,480 | |
Subsequent Event | 10/20/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 190,770 | |
Subsequent Event | 10/20/2016 | Colonial Stock Transfer | ||
Price | $ 0.012 | |
Subsequent Event | 10/20/2016 | Colonial Stock Transfer | Principal | ||
Amount Converted | $ 2,400 | |
Subsequent Event | 10/20/2016 | Colonial Stock Transfer | Common Stock | ||
Shares Issued | 205,128 | |
Subsequent Event | 10/21/2016 | Black Forest Capital LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/21/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 2,730 | |
Subsequent Event | 10/21/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 210,000 | |
Subsequent Event | 10/21/2016 | EMA Financial, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 10/21/2016 | EMA Financial, LLC | Principal | ||
Amount Converted | $ 1,125.54 | |
Subsequent Event | 10/21/2016 | EMA Financial, LLC | Common Stock | ||
Shares Issued | 216,450 | |
Subsequent Event | 10/19/2016 | Microcap Equity Group LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/19/2016 | Microcap Equity Group LLC | Principal | ||
Amount Converted | $ 2,264 | |
Subsequent Event | 10/19/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 174,153 | |
Subsequent Event | 10/24/2016 | Auctus Fund, LLC | ||
Price | $ 0.010 | |
Subsequent Event | 10/24/2016 | Auctus Fund, LLC | Principal | ||
Amount Converted | $ 2,491.84 | |
Subsequent Event | 10/24/2016 | Auctus Fund, LLC | Common Stock | ||
Shares Issued | 239,600 | |
Subsequent Event | 10/24/2016 | Black Forest Capital LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/24/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 3,107 | |
Subsequent Event | 10/24/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 239,000 | |
Subsequent Event | 10/24/2016 | Microcap Equity Group LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/24/2016 | Microcap Equity Group LLC | Principal | ||
Amount Converted | $ 3,110 | |
Subsequent Event | 10/24/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 239,230 | |
Subsequent Event | 10/25/2016 | Black Forest Capital LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/25/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 3,367 | |
Subsequent Event | 10/25/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 259,000 | |
Subsequent Event | 10/26/2016 | Auctus Fund, LLC | ||
Price | $ 0.010 | |
Subsequent Event | 10/26/2016 | Auctus Fund, LLC | Principal | ||
Amount Converted | $ 2,954.64 | |
Subsequent Event | 10/26/2016 | Auctus Fund, LLC | Common Stock | ||
Shares Issued | 284,100 | |
Subsequent Event | 10/26/2016 | EMA Financial, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 10/26/2016 | EMA Financial, LLC | Principal | ||
Amount Converted | $ 1,525.16 | |
Subsequent Event | 10/26/2016 | EMA Financial, LLC | Common Stock | ||
Shares Issued | 293,300 | |
Subsequent Event | 10/26/2016 | Microcap Equity Group LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/26/2016 | Microcap Equity Group LLC | Principal | ||
Amount Converted | $ 3,382 | |
Subsequent Event | 10/26/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 260,153 | |
Subsequent Event | 10/26/2016 | Adar Bays, LLC | ||
Price | $ 0.020 | |
Subsequent Event | 10/26/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 5,000 | |
Subsequent Event | 10/26/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 250,000 | |
Subsequent Event | 10/27/2016 | Microcap Equity Group LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/27/2016 | Microcap Equity Group LLC | Principal | ||
Amount Converted | $ 3,382 | |
Subsequent Event | 10/27/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 260,153 | |
Subsequent Event | 10/28/2016 | Black Forest Capital LLC | ||
Price | $ 0.013 | |
Subsequent Event | 10/28/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 4,000 | |
Subsequent Event | 10/28/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 311,285 | |
Subsequent Event | 10/28/2016 | Microcap Equity Group LLC | ||
Price | $ 0.012 | |
Subsequent Event | 10/28/2016 | Microcap Equity Group LLC | Principal | ||
Amount Converted | $ 4,300 | |
Subsequent Event | 10/28/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 373,913 | |
Subsequent Event | 10/28/2016 | Adar Bays, LLC | ||
Price | $ 0.012 | |
Subsequent Event | 10/28/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 4,150 | |
Subsequent Event | 10/28/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 342,412 | |
Subsequent Event | 10/31/2016 | Kodiak Capital | ||
Price | $ 0 | |
Subsequent Event | 10/31/2016 | Kodiak Capital | Principal | ||
Amount Converted | $ 1,453.50 | |
Subsequent Event | 10/31/2016 | Kodiak Capital | Common Stock | ||
Shares Issued | 171,000 | |
Subsequent Event | 10/31/2016 | Auctus Fund, LLC | ||
Price | $ 0.009 | |
Subsequent Event | 10/31/2016 | Auctus Fund, LLC | Principal | ||
Amount Converted | $ 3,445.40 | |
Subsequent Event | 10/31/2016 | Auctus Fund, LLC | Common Stock | ||
Shares Issued | 374,500 | |
Subsequent Event | 10/31/2016 | EMA Financial, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 10/31/2016 | EMA Financial, LLC | Principal | ||
Amount Converted | $ 1,974.38 | |
Subsequent Event | 10/31/2016 | EMA Financial, LLC | Common Stock | ||
Shares Issued | 429,213 | |
Subsequent Event | 10/31/2016 | Microcap Equity Group LLC | ||
Price | $ 0.012 | |
Subsequent Event | 10/31/2016 | Microcap Equity Group LLC | Principal | ||
Amount Converted | $ 4,772 | |
Subsequent Event | 10/31/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 414,956 | |
Subsequent Event | 10/31/2016 | Adar Bays, LLC | ||
Price | $ 0.011 | |
Subsequent Event | 10/31/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 4,050 | |
Subsequent Event | 10/31/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 373,913 | |
Subsequent Event | 10/31/2016 -2 | Kodiak Capital | ||
Price | $ 0 | |
Subsequent Event | 10/31/2016 -2 | Kodiak Capital | Principal | ||
Amount Converted | $ 309.26 | |
Subsequent Event | 10/31/2016 -2 | Kodiak Capital | Common Stock | ||
Shares Issued | 824,694 | |
Subsequent Event | 11/1/2016 | Adar Bays, LLC | ||
Price | $ 0.011 | |
Subsequent Event | 11/1/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 5,150 | |
Subsequent Event | 11/1/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 469,565 | |
Subsequent Event | 11/2/2016 | Black Forest Capital LLC | ||
Price | $ 0.011 | |
Subsequent Event | 11/2/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 3,977.50 | |
Subsequent Event | 11/2/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 370,000 | |
Subsequent Event | 11/2/2016 | EMA Financial, LLC | ||
Price | $ 0.004 | |
Subsequent Event | 11/2/2016 | EMA Financial, LLC | Principal | ||
Amount Converted | $ 2,153.83 | |
Subsequent Event | 11/2/2016 | EMA Financial, LLC | Common Stock | ||
Shares Issued | 530,500 | |
Subsequent Event | 11/2/2016 | Microcap Equity Group LLC | ||
Price | $ 0.010 | |
Subsequent Event | 11/2/2016 | Microcap Equity Group LLC | Principal | ||
Amount Converted | $ 5,200 | |
Subsequent Event | 11/2/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 512,315 | |
Subsequent Event | 11/2/2016 | Adar Bays, LLC | ||
Price | $ 0.010 | |
Subsequent Event | 11/2/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 4,750 | |
Subsequent Event | 11/2/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 465,116 | |
Subsequent Event | 11/3/2016 | Auctus Fund, LLC | ||
Price | $ 0.008 | |
Subsequent Event | 11/3/2016 | Auctus Fund, LLC | Principal | ||
Amount Converted | $ 3,040.94 | |
Subsequent Event | 11/3/2016 | Auctus Fund, LLC | Common Stock | ||
Shares Issued | 374,500 | |
Subsequent Event | 11/3/2016 | Microcap Equity Group LLC | ||
Price | $ 0 | |
Subsequent Event | 11/3/2016 | Microcap Equity Group LLC | Common Stock | ||
Shares Issued | 497,767 | |
Subsequent Event | 11/3/2016 | Adar Bays, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 11/3/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 2,200 | |
Subsequent Event | 11/3/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 462,264 | |
Subsequent Event | 11/4/2016 | Black Forest Capital LLC | ||
Price | $ 0.003 | |
Subsequent Event | 11/4/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 2,090.33 | |
Subsequent Event | 11/4/2016 | Black Forest Capital LLC | Interest | ||
Amount Converted | $ 1,566.77 | |
Subsequent Event | 11/4/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 690,000 | |
Subsequent Event | 11/4/2016 | Adar Bays, LLC | ||
Price | $ 0.003 | |
Subsequent Event | 11/4/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 1,750 | |
Subsequent Event | 11/4/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 664,528 | |
Subsequent Event | 11/4/2016 | Tangiers Investment Group, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 11/4/2016 | Tangiers Investment Group, LLC | Principal | ||
Amount Converted | $ 6,591 | |
Subsequent Event | 11/4/2016 | Tangiers Investment Group, LLC | Common Stock | ||
Shares Issued | 1,381,761 | |
Subsequent Event | 11/7/2016 | Adar Bays, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 11/7/2016 | Adar Bays, LLC | Principal | ||
Amount Converted | $ 2,472 | |
Subsequent Event | 11/7/2016 | Adar Bays, LLC | Interest | ||
Amount Converted | $ 0 | |
Subsequent Event | 11/7/2016 | Adar Bays, LLC | Common Stock | ||
Shares Issued | 513,585 | |
Subsequent Event | 11/8/2016 | Auctus Fund, LLC | ||
Price | $ 0.005 | |
Subsequent Event | 11/8/2016 | Auctus Fund, LLC | Principal | ||
Amount Converted | $ 3,960.91 | |
Subsequent Event | 11/8/2016 | Auctus Fund, LLC | Interest | ||
Amount Converted | $ 61.97 | |
Subsequent Event | 11/8/2016 | Auctus Fund, LLC | Common Stock | ||
Shares Issued | 867,000 | |
Subsequent Event | 11/8/2016 | Black Forest Capital LLC | ||
Price | $ 0.005 | |
Subsequent Event | 11/8/2016 | Black Forest Capital LLC | Principal | ||
Amount Converted | $ 1,593.77 | |
Subsequent Event | 11/8/2016 | Black Forest Capital LLC | Interest | ||
Amount Converted | $ 3.84 | |
Subsequent Event | 11/8/2016 | Black Forest Capital LLC | Common Stock | ||
Shares Issued | 301,436 | |
Subsequent Event | 11/8/2016 | EMA Financial, LLC | ||
Price | $ 0.002 | |
Subsequent Event | 11/8/2016 | EMA Financial, LLC | Principal | ||
Amount Converted | $ 1,898.46 | |
Subsequent Event | 11/8/2016 | EMA Financial, LLC | Interest | ||
Amount Converted | $ 0 | |
Subsequent Event | 11/8/2016 | EMA Financial, LLC | Common Stock | ||
Shares Issued | 895,500 |