Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2014 | Sep. 25, 2015 | Jun. 30, 2014 | |
Document and Entity Information | |||
Entity Registrant Name | Monster Arts Inc. | ||
Entity Central Index Key | 1,423,746 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2014 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,014 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 8,786,209 | ||
Entity Common Stock, Shares Outstanding | 838,736,347 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Current Assets | ||
Cash | $ 16,116 | $ 46,234 |
Accounts receivable, net of allowance for doubtful accounts of $1,250 | 4,173 | |
Loan receivable to related party | $ 284,943 | 290,532 |
Interest receivable to related party | 26,715 | 15,577 |
Prepaid expenses | 53,240 | 139,996 |
Total Current Assets | $ 381,014 | 496,512 |
Fixed Assets | ||
Property and equipment, net | 460 | |
Total Fixed Assets | 460 | |
Other Assets | ||
Available-for-sale securities | $ 1,619 | 6,000 |
Total Other Assets | 1,619 | 6,000 |
Total Assets | 382,633 | 502,972 |
Current Liabilities | ||
Accounts payable & accrued expenses | 53,834 | 67,586 |
Accounts payable & accrued expenses to related parties | 68,156 | 165,913 |
Accrued interest | 67,907 | 11,659 |
Deferred revenues | 34,709 | 18,359 |
Loan from officer | $ 2,500 | 17,021 |
Notes payable | 10,161 | |
Notes payable to related party | $ 15,494 | 57,480 |
Convertible notes payable, net of discounts of $339,934 and $113,361 | 556,116 | 148,584 |
Derivative Liability | 1,564,098 | 994,778 |
Total Liabilities | 2,362,814 | $ 1,491,541 |
Stockholders' Equity: | ||
Preferred stock value | 20,000 | |
Common stock, $0.001 par value 5,000,000,000 shares authorized, 2,182,007,174 and 29,201,615 shares issued and outstanding, respectively | 2,182,007 | $ 29,202 |
Additional paid in capital | $ 5,144,377 | 6,126,501 |
Stock subscription payable | 488,613 | |
Accumulated Comprehensive Gain / (Loss) | $ (1,966) | (4,000) |
Deficit accumulated during the development stage | (9,324,599) | (7,628,885) |
Total stockholders' equity (deficit) | (1,980,181) | (988,569) |
Total Liabilities and Stockholders' Equity | $ 382,633 | $ 502,972 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity: | ||
Preferred stock value |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Allowance for doubtful accounts | $ 1,250 | $ 1,250 |
Convertible notes payable, net of discounts | $ 339,934 | $ 113,361 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 80,000,000 | 80,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
Common stock, shares issued | 2,182,007,174 | 29,201,615 |
Common stock, shares outstanding | 2,182,007,174 | 29,201,615 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | ||
Commissions | $ 13,750 | |
License revenues | $ 16,485 | 18,163 |
Services | 96,523 | 14,097 |
Services- related party | 8,700 | $ 5,387 |
Other revenues | 34,895 | |
Total revenues | 156,603 | $ 51,397 |
Cost of revenues | 101,449 | 4,838 |
Gross Profit | 55,154 | 46,559 |
Operating expenses: | ||
General and administration | 202,183 | 179,858 |
Consulting | 774,984 | 993,343 |
Wages | 155,837 | 177,642 |
Marketing and promotions | 25,156 | 5,000 |
Depreciation | 460 | 470 |
Professional fees | 142,925 | 91,855 |
Total operating expenses | 1,301,545 | 1,448,168 |
Income (Loss) from operations | (1,246,391) | (1,401,609) |
Other income and (expenses): | ||
Interest expense | (1,029,050) | (270,120) |
Interest expense - derivative | (1,842,184) | (3,947,092) |
Interest income | 15,934 | 9,643 |
Gain/(Loss) on derivative adjustment | $ 2,405,977 | 3,372,238 |
Debt forgiveness | 4,096 | |
Total other income and (expenses) | $ (449,323) | (831,235) |
Net loss before taxes | $ (1,695,714) | $ (2,232,844) |
Tax provisions | ||
Net loss after taxes | $ (1,695,714) | $ (2,232,844) |
Other Comprehensive Income: | ||
Unrealized loss/(gain) on available-for-sale securities | (2,034) | 4,000 |
Other Comprehensive Income (Loss) | $ (1,693,680) | $ (2,236,844) |
Basic & diluted loss per share | $ 0 | $ (0.31) |
Weighted average shares outstanding | 1,630,676,984 | 7,102,414 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity (Deficit) - USD ($) | Total | Preferred Stock | Common Stock | Additional Paid in Capital | Common Stock Receivable | Common Stock Payable | Other Comprehensive Income (Loss) | Accumulated Deficit |
Beginning balance at Feb. 01, 2007 | ||||||||
Beginning balance, shares at Feb. 01, 2007 | ||||||||
Contributed Capital, February 2007 | $ 400 | $ 400 | ||||||
Founder shares issued for services | $ 11,250 | $ 56 | $ 11,194 | |||||
Founder shares issued for services, shares | 56,250 | |||||||
Contributed Capital | $ 585 | $ 585 | ||||||
Tropical PC spin off shares | $ 4 | $ (4) | ||||||
Tropical PC spin off shares, shares | 4,050 | |||||||
Shares returned to Company | $ (3) | $ 3 | ||||||
Shares returned to Company, shares | (3,000) | |||||||
Shares issued pursuant to offer | $ 33,750 | $ 38 | $ 33,712 | |||||
Shares issued pursuant to offer, shares | 37,500 | |||||||
Net loss | $ (6,595) | $ (6,595) | ||||||
Ending balance at Dec. 31, 2007 | $ 39,390 | $ 95 | $ 45,890 | $ (6,595) | ||||
Ending balance, shares at Dec. 31, 2007 | 94,800 | |||||||
Net loss | $ (41,556) | $ (41,556) | ||||||
Ending balance at Dec. 31, 2008 | $ (2,166) | $ 95 | $ 45,890 | $ (48,151) | ||||
Ending balance, shares at Dec. 31, 2008 | 94,800 | |||||||
Private placement | $ 12,499 | $ 67 | $ 13,432 | $ (1,000) | ||||
Private placement, shares | 67,500 | |||||||
Net loss | $ 8,741 | $ 8,741 | ||||||
Ending balance at Dec. 31, 2009 | $ 19,074 | $ 162 | $ 59,322 | $ (1,000) | $ (39,410) | |||
Ending balance, shares at Dec. 31, 2009 | 162,300 | |||||||
Cancellation of unearned shares | $ (5) | $ (995) | $ 1,000 | |||||
Cancellation of unearned shares, shares | (5,000) | |||||||
Shares issued for cash | $ 40 | $ 7,960 | $ (8,000) | |||||
Shares issued for cash, shares | 40,000 | |||||||
Shares issued for services | $ 462,437 | $ 4 | $ 462,833 | $ (400) | ||||
Shares issued for services, shares | 3,662 | |||||||
Net loss | $ (494,195) | $ (494,195) | ||||||
Ending balance at Dec. 31, 2010 | $ (12,684) | $ 201 | $ 529,120 | $ (8,400) | $ (533,605) | |||
Ending balance, shares at Dec. 31, 2010 | 200,962 | |||||||
Shares issued for services | $ 156,750 | $ 2 | $ 155,998 | $ 750 | ||||
Shares issued for services, shares | 2,000 | |||||||
Shares issued for license | 450,000 | $ 450,000 | ||||||
Shares issued for license, shares | ||||||||
Issuance of stock options for services | 14,302 | $ 14,302 | ||||||
Shares issued as part of strategic Alliance | $ 35,825 | $ 35,825 | ||||||
Shares issued as part of strategic Alliance, shares | ||||||||
Shares issued for conversion of notes payable\convertible debt | $ 16 | |||||||
Shares issued for conversion of notes payable\convertible debt, shares | 202,792 | 16,296 | 202,776 | |||||
Sale of stock at 3% discount | $ 13,191 | $ 1 | $ 13,190 | |||||
Sale of stock at 3% discount, shares | 1,309 | |||||||
Financing fees incurred on sale of Stock | (5,000) | $ (5,000) | ||||||
Write off of stock receivable | 8,400 | $ 8,400 | ||||||
Net loss | (998,876) | $ (998,876) | ||||||
Ending balance at Dec. 31, 2011 | (135,300) | $ 220 | $ 910,386 | $ 486,575 | $ (1,532,481) | |||
Ending balance, shares at Dec. 31, 2011 | 220,567 | |||||||
Shares issued for services | 258,414 | $ 430 | 226,710 | $ 31,274 | ||||
Shares issued for services, shares | 430,000 | |||||||
Issuance of stock options for services | $ 134,291 | 134,291 | ||||||
Shares issued as part of strategic Alliance | $ 1 | 35,824 | $ (35,825) | |||||
Shares issued as part of strategic Alliance, shares | 834 | |||||||
Shares issued for debt settlement | $ 2,950,842 | $ 2,732 | 2,948,110 | |||||
Shares issued for debt settlement, shares | 2,732,156 | |||||||
Shares issued for note extension | 15,000 | $ 5 | $ 14,995 | |||||
Shares issued for note extension, shares | 5,000 | |||||||
Stock split adjustment | 1 | $ 1 | ||||||
Stock split adjustment, shares | 803 | |||||||
Effect from share exchange agreement with Ad Shark, Inc. | 254,684 | $ 662,598 | $ 27,940 | $ (435,854) | ||||
Effect from share exchange agreement with Ad Shark, Inc, Shares | ||||||||
Stock subscription payable | 278,425 | $ 278,425 | ||||||
Net loss | (3,427,706) | $ (3,427,706) | ||||||
Ending balance at Dec. 31, 2012 | 328,651 | $ 3,389 | $ 4,932,914 | $ 788,389 | $ (5,396,041) | |||
Ending balance, shares at Dec. 31, 2012 | 3,389,360 | |||||||
Shares issued for cash | 175,875 | $ 862 | 446,438 | (271,425) | ||||
Shares issued for cash, shares | 861,751 | |||||||
Shares issued for services | 998,568 | $ 7,356 | 1,019,413 | $ (28,201) | ||||
Shares issued for services, shares | 7,355,667 | |||||||
Shares issued for conversion of notes payable\convertible debt | 133,225 | $ 14,775 | $ 118,450 | |||||
Shares issued for conversion of notes payable\convertible debt, shares | 14,775,358 | |||||||
Stock subscription payable | 1,940 | $ 1,940 | ||||||
Cancellation of shares | (92,292) | $ (323) | $ (91,969) | |||||
Cancellation of shares, shares | (323,832) | |||||||
Asset purchase of TAVG | 1,053 | $ 1,053 | ||||||
Master Purchase Agreement with Iconosys (Note 11) | $ (298,745) | $ (298,745) | ||||||
Stock issued from converted Ad Shark, Inc. shareholders | $ 3,143 | $ (3,143) | ||||||
Stock issued from converted Ad Shark, Inc. shareholders, shares | 3,143,311 | |||||||
Gain\Loss on available for sale securities | $ (4,000) | $ (4,000) | ||||||
Net loss | (2,232,844) | $ (2,232,844) | ||||||
Ending balance at Dec. 31, 2013 | (988,569) | $ 29,202 | $ 6,126,501 | $ 488,613 | $ (4,000) | $ (7,628,885) | ||
Ending balance, shares at Dec. 31, 2013 | 29,201,615 | |||||||
Preferred shares issued for services | 20,000 | $ 20,000 | ||||||
Preferred shares issued for services, shares | 20,000,000 | |||||||
Shares issued for services | 224,847 | $ 413,811 | (188,964) | |||||
Shares issued for services, shares | 413,811,693 | |||||||
Shares issued for conversion of notes payable\convertible debt | $ 457,221 | $ 1,713,995 | $ (1,256,774) | |||||
Shares issued for conversion of notes payable\convertible debt, shares | 1,713,994,987 | |||||||
Stock issued from converted Ad Shark, Inc. shareholders | $ 24,999 | $ (24,999) | ||||||
Stock issued from converted Ad Shark, Inc. shareholders, shares | 24,998,879 | |||||||
Write off stock payable for services | $ 463,614 | $ (463,614) | ||||||
Gain\Loss on available for sale securities | $ 2,034 | $ 2,034 | ||||||
Net loss | (1,695,714) | $ (1,695,714) | ||||||
Ending balance at Dec. 31, 2014 | $ (1,980,181) | $ 20,000 | $ 2,182,007 | $ 5,144,377 | $ (1,966) | $ (9,324,599) | ||
Ending balance, shares at Dec. 31, 2014 | 20,000,000 | 2,182,007,174 |
Statements of Stockholders' Eq6
Statements of Stockholders' Equity (Parenthetical) (Deficit) | 12 Months Ended |
Dec. 31, 2011 | |
Statement of Stockholders' Equity [Abstract] | |
Sale of stock, Discount rate | 3.00% |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Loss for the period | $ (1,695,714) | $ (2,232,844) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Available-for-sale securities revenues | (3,050) | |
Debt discount | $ 906,525 | 255,230 |
(Gain)/loss on change in derivative adjustment | (569,320) | 574,854 |
Stock for services expense | 244,847 | $ 998,568 |
Convertible note issued for consulting services | $ 127,900 | |
Master purchase agreement | $ (298,745) | |
Depreciation and amortization | $ 460 | $ 44,974 |
Changes in Operated Assets and Liabilities: | ||
(Increase) decrease in accounts receivable | 4,173 | |
Increase in interest receivable | (11,138) | $ (6,737) |
Increase (decrease) in loan receivable to related party | 5,589 | 18,356 |
Increase in deferred revenues | 16,350 | 18,359 |
Increase (decrease) in accounts payable and accrued expenses | (13,252) | 54,218 |
Increase (decrease) in accounts payable to related parties | (28,273) | 42,358 |
Increase (decrease) in accrued interest | 55,748 | 9,847 |
Net cash (used) in operating activities | $ (956,105) | (524,612) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from sale of stock | 168,875 | |
Stock subscription payable | 7,000 | |
Proceeds from officer loan | 18,165 | |
Payments on officer loan | $ (14,521) | (102,270) |
Proceeds from convertible notes | $ 1,010,023 | $ 286,865 |
Payments on convertible notes | ||
Proceeds from notes payable | $ 10,161 | |
Payments on notes payable | $ (17,370) | |
Proceeds from notes payable to related party | $ (770) | |
Payments on notes payable to related party | $ (52,145) | |
Contributed Capital | ||
Net Cash Provided by Financing Activities | $ 925,987 | $ 388,026 |
Net (Decrease) Increase in Cash | (30,118) | (136,586) |
Cash at Beginning of Period | 46,234 | 182,820 |
Cash (Overdraft) at End of Period | $ 16,116 | $ 46,234 |
SUPPLEMENTAL DISCLOSURES: | ||
Income Taxes Paid | ||
Interest Paid | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Stock issued for conversion of convertible notes payable | $ 455,693 | $ 128,165 |
Stock issued for debt settlement | $ 87,500 |
Organization & Business Descrip
Organization & Business Description | 12 Months Ended |
Dec. 31, 2014 | |
Organization & Business Description [Abstract] | |
ORGANIZATION & BUSINESS DESCRIPTION | NOTE 1 – ORGANIZATION & BUSINESS DESCRIPTION On May 2, 2013, Monster Arts, Inc. (the “Company”) amended its articles of incorporation to change its name from Monster Offers to Monster Arts, Inc. The Company was incorporated under the laws of the State of Nevada, as Tropical PC Acquisition Corporation on February 23, 2007 ("Inception"). On December 11, 2007, the Company amended its Articles of Incorporation changing its name from Tropical PC Acquisition Corporation to Monster Offers. On November 9, 2012 the Company executed a share exchange agreement with Ad Shark, Inc., a privately-held California corporation incorporated April 12, 2011. As a result of the share exchange agreement, Ad Shark, Inc. became a wholly owned subsidiary of the Company. In February of 2014, Ad Shark, Inc. was dissolved as a California corporation. The Company organizes advertising sales efforts by constructing media and advertising delivery systems for Smartphone and Tablet application developers including the delivery of mobile banners, mobile video, mobile text messaging, and mobile email advertising. On March 4, 2013, the Company entered into a Master Purchase Agreement with Iconosys, Inc., a private California corporation whom shares a common officer with the Company, whereby the Company acquired a 10% interest in Iconosys, Inc. (Referenced in Note 9). On August 8, 2013, the Company approved the execution of an asset purchase agreement with Iconosys, Inc., a private California corporation which shares an officer with the Company, for the rights to domain names, web site content and trademark assignments of Travel America Visitor Guide (“TAVG”) which is a division of Iconosys. On April 25, 2014, the Company entered into a subscription agreement to buy 53,000 shares of common stock of Candor Homes Corporation, (“CH, Inc.”) for $10,000 which represents 53% of the equity interest in CH, Inc. As of December 31, 2014, there has been no activity with CH, Inc. and the Company has recorded accounts payable to related party balance of $10,000. The only two directors of CH, Inc. are our chief executive officer, Wayne Irving II and his sister Tisha Lawton. CH, Inc. is activity analyzing potential land investments in Central Iowa where new homes could be built. On August 28, 2014, our Board of Directors and majority shareholders, approved a reverse stock split upon receipt of all necessary regulatory approvals and the passage of all necessary waiting periods. The reverse split would reduce the number of outstanding shares of our common stock at a ratio of 200 to 1 but have no effect on the number of authorized shares of Common Stock or Preferred Stock. Authorized Shares On July 19, 2013, the Company amended its articles of incorporation to increase its authorized shares from 75,000,000 to 750,000,000 of which 730,000,000 were designated as common stock and 20,000,000 were designated as preferred stock. The shares have a par value of $0.001. In August of 2014, the Company amended is articles of incorporation to increase the number of authorized common shares from 730,000,000 to 5,000,000,000 with a par value of $0.001. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2014 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2 - GOING CONCERN These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. Since inception (February 23, 2007) through December 31, 2014, the Company incurred an accumulated deficit during development stage of approximately $9,324,599. The Company's ability to continue as a going concern is contingent upon its ability to achieve and maintain profitable operations and its ability to raise additional capital as required. Management plans to raise equity capital to finance the operating and capital requirements of the Company, and also plans to pursue acquisition opportunities of other revenue-generating companies that provide complementary capabilities to that of the Company. Amounts raised will be used for further development of the Company's products and services, to provide financing for marketing and promotion, to secure additional property and equipment, and for other working capital purposes. While the Company is devoting its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be available for operations. These conditions raise substantial doubt about the Company's ability to 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 result from this uncertainty. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Significant Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting These financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). Principles of consolidation The accompanying consolidated financial statements include all of the accounts of the Company and Candor Homes Corporation as of December 31, 2014 and December 31, 2013. The Company has an equity interest in the following entities; ● The Company has accounted for the non-controlling interest using GAAP accounting standards. All intercompany balances and transactions have been eliminated. Development Stage Company The Company is currently a development stage enterprise reporting under the provisions of FASB ASC Topic 915 , Development Stage Entity Reclassification On April 9, 2012, the Company executed a 300 to 1 reverse stock split, which was retrospectively applied to our financial statements. On August 28, 2014, the Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for 200 hundred (1:200) of the Company's total issued and outstanding shares of common stock. The reverse stock split was effective on January 16, 2015 based upon the filing of appropriate documentation with FINRA. The Company did not record any effects of the reverse stock split in the financial statements presented herein as the effective date was subsequent to reporting date, December 31, 2014. See Subsequent Events footnote for additional disclosure. Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less at the date of purchase to be cash equivalents. As of December 31, 2014 and December 31, 2013, there are no cash equivalents. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition In accordance with ASC 605 and SEC Staff Accounting Bulletin 104, fee revenue is recognized in the period that the Company's advertiser customer generates a sale or other agreed-upon action on the Company's affiliate marketing networks or as a result of the Company's other services, provided that no significant Company obligations remain, collection of the resulting receivable is reasonably assured, and the fees are fixed or determinable. All transactional services revenues are recognized on a gross basis in accordance with the provisions of ASC Subtopic 605-45, due to the fact that the Company is the primary obligor, and bears all credit risk to its customer, and publisher expenses that are directly related to a revenue-generating event are recorded as a component of commission paid. Earnings per Share Historical net (loss) per common share is computed using the weighted average number of common shares outstanding. Diluted earnings per share include additional dilution from common stock equivalents, such as stock issuable pursuant to the exercise of securities or other contracts to issue common stock that were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the entity. Accounts receivable Accounts receivable are stated at the amount management expects to collect from balances outstanding at year end. Management provides for probable uncollectible amounts through a charge to earnings and a credit to an allowance based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance. As of December 31, 2014 and December 31, 2013, we have $1,250 and 5,423, respectively, in accounts receivable and $1,250 charged to allowance for doubtful accounts. Equipment Equipment is stated at cost, less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which consist of computer equipment, which is 3 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for equipment betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in other income or expense. The Company will periodically evaluate whether events and circumstances have occurred that may warrant revision of the estimated useful lives of equipment and website development costs or whether the remaining balance of equipment should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the equipment in measuring their recoverability. Website Development Costs The Company recognizes the costs associated with developing a website in accordance with FASB ASC 350-50 “ Website Development Costs”. Fair Value of Financial Instruments The carrying amounts of the financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities, approximate fair value due to the short maturities of these financial instruments. The notes payable are also considered financial instruments whose carrying amounts approximate fair values. Intangible assets The Company follows Financial Accounting Standard Board’s (FASB) Codification Topic 350-10 (“ASC 350-10”), “Intangibles - Goodwill and Other” to determine the method of amortization of its intangible assets. The Company’s intangible assets are capitalized at historical cost and are amortized over their useful lives. The Company amortizes its license of SSL5 intellectual property using the straight-line method over an estimated useful life of 10 years. Stock-based compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non-employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505. Income Taxes The Company accounts for its income taxes in accordance with Income Taxes Topic of the FASB ASC 740, which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Recent Accounting Pronouncements Company management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements. |
Available For Sale Securities
Available For Sale Securities | 12 Months Ended |
Dec. 31, 2014 | |
Available For Sale Securities [Abstract] | |
AVAILABLE FOR SALE SECURITIES | NOTE 4 – AVAILABLE FOR SALE SECURITIES On November 1, 2013, the Company executed a joint venture agreement (JVA) with Intelligent Living, Inc. (“ILIV”). You can read the full agreement in the registrant’s SEC Form 8-K filing on November 5, 2013. The Company will provide ILIV comprehensive and end-to-end turnkey business function through its development of smartphone and tablet apps. The Company’s revenue sharing will be 35% of gross payments from app sales from Google Play and 50% of gross payments from app sales through Amazon, Nook, iTunes, and others. The Company will be paid in the form of stock by ILIV which is a publically traded company trading on the OTCQB under the symbol “ILIV”. The Company will be issued 10,000,000 shares of ILIV upon execution of the JVA. The Company will also be issued 4,000,000 shares of ILIV in quarterly installments over a period of 2 years from the date of the agreement. The Company was issued the initial 10,000,000 shares of ILIV upon closing of the agreement which were valued at the closing price of ILIV stock on November 1, 2013, which resulted in the Company recording an available-for-sale securities asset of $10,000. Pursuant to the consulting agreement with Mind Solutions, Inc. (referenced in Note 9 herein), in the year ended December 31, 2014, the Company received 50,000,000 shares of Mind Solutions, Inc. common stock. In the year ended December 31, 2014, the Company sold 47,855,085 shares of Mind Solutions, Inc. stock of which the Company received net proceeds of $34,895. As of December 31, 2014, the Company holds 2,144,915 shares of Mind Solutions, Inc. and 6,593,500 shares of ILIV which based on the closing share prices resulted in the Company recording an available-for-sale securities balance of $1,619 and $6,000. |
Fixed assets
Fixed assets | 12 Months Ended |
Dec. 31, 2014 | |
Fixed Assets [Abstract] | |
FIXED ASSETS | NOTE 5 – FIXED ASSETS Property and equipment consists of the following at December 31, 2014 and December 31, 2013: December 31, December 31, Property and equipment, net $ 2,364 $ 2,364 Less: accumulated depreciation 2,364 1,904 Property and equipment, net $ - $ 460 The Company acquired the property and equipment through the share exchange agreement with Ad Shark, Inc. on November 9, 2012. Therefore the Company only recognized depreciation on the equipment after the share exchange date. Depreciation expense for the years ended December 31, 2014 and 2013 was $460. |
Asset Purchase Agreement With I
Asset Purchase Agreement With Iconosys (TAVG) | 12 Months Ended |
Dec. 31, 2014 | |
Asset Purchase Agreement With Iconosys (TAVG) [Abstract] | |
ASSET PURCHASE AGREEMENT WITH ICONOSYS (TAVG) | NOTE 6 – ASSET PURCHASE AGREEMENT WITH ICONOSYS (TAVG) On August 8, 2013, the Company approved the execution of an asset purchase agreement with Iconosys, Inc., a private California corporation which shares an officer with the Company for the rights to domain names, web site content and trademark assignments of Travel America Visitor Guide (“TAVG”) which is a division of Iconosys. Iconosys shall sell, convey, transfer and assign to the Company and the Company shall purchase all right, title and interest in and to the assets of Iconosys as follows: (i) the Iconosys trademarks (the "Trademarks"); (ii) the Iconosys domain name (the "Domain Name") together with all associated service marks, copyrights, trade names and other intellectual property associated with the Domain Name; (iii) the Iconsys web site content (the "Web Site"), together with all associated intellectual property rights to the Web Site. In accordance with the terms and provisions of the Asset Purchase Agreement, the Company shall pay to Iconosys a purchase price of $250,000 as follows: (i) $50,000 of the Purchase Price shall be paid in cash with a cash payment of $5,000 and $45,000 to be satisfied with the issuance of a promissory note dated August 8, 2013, due August 7, 2014, and with annum interest of 4%. The remaining $200,000 of the purchase price shall be paid in stock through a stock purchase agreement dated August 8, 2013 whereby the Company will issue Iconosys 1,052,632 common shares with a fair market price of $.0.19 (based on the closing trading price of the Company's shares of common stock on the OTCQB as of August 8, 2013. As of December 31, 2014, the Company has a note payable balance of $2,244 balance of $0 pursuant to the note with Iconosys. Deferred Revenues In the year ended December 31, 2014 and 2013, the Company recognized $41,845 and $14,097 in services income relating to the TAVG asset. As of December 31, 2014 and 2013 the Company recorded deferred revenues of $34,709 and $18,359 relating to TAVG membership sales. The Company recognizes revenues over each member’s respective one year subscription term. |
Convertible Notes Payable
Convertible Notes Payable | 12 Months Ended |
Dec. 31, 2014 | |
Convertible Notes Payable [Abstract] | |
Convertible Notes Payable | NOTE 7 - CONVERTIBLE NOTES PAYABLE Asher Enterprises, Inc. On April 11, 2013, the Company entered into a Convertible Note Agreement with Asher Enterprises Inc. for a $42,500 convertible note payable with interest of 8% per annum, unsecured, and due January 14, 2014. The note is convertible into common shares of the Company at a conversion rate of 55% of the market price, calculated as the average of the three lowest trading prices in the previous 10 days leading up to the date of conversion. The entire principle balance of $42,500 was converted into 5,606,783 common shares of the Company. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On May 13, 2013, the Company entered into a Convertible Note Agreement with Asher Enterprises Inc. for a $63,000 convertible note payable with interest of 8% per annum, unsecured, and due February 17, 2014. The note is convertible into common shares of the Company at a conversion rate of 55% of the market price, calculated as the average of the three lowest trading prices in the previous 10 days leading up to the date of conversion. The entire principle balance of $63,000 was converted into 38,283,516 common shares of the Company. On June 14, 2013, the Company entered into a Convertible Note Agreement with Asher Enterprises Inc. for a $37,500 convertible note payable with interest of 8% per annum, unsecured, and due March 18, 2014. The note is convertible into common shares of the Company at a conversion rate of 55% of the market price, calculated as the average of the three lowest trading prices in the previous 10 days leading up to the date of conversion. The entire principle balance of $37,500 was converted into 25,333,333 common shares of the Company. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On July 10, 2013, the Company, entered into a Securities Purchase Agreement whereby the Company sold a Convertible Promissory Note to Asher Enterprises, Inc., a Delaware corporation, in the original principal amount of $37,500, and accruing interest at eight percent (8%) per annum. The Note is convertible into the Company’s common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note’s issuance. As of December 31, 2014, the entire principle balance of $37,500 was converted into 34,210,025 shares of common stock in the Company. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On September 12, 2013, the Company, entered into a Securities Purchase Agreement whereby the Company sold a Convertible Promissory Note to Asher Enterprises, Inc., a Delaware corporation, in the original principal amount of $32,500, and accruing interest at eight percent (8%) per annum. The Note is convertible into the Company’s common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note’s issuance. As of December 31, 2014, the entire principle balance of $32,500 was converted into 43,779,046 shares of common stock in the Company. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On December 23, 2013, the Company, entered into a Securities Purchase Agreement whereby the Company sold a Convertible Promissory Note to Asher Enterprises, Inc., a Delaware corporation, in the original principal amount of $60,000, and accruing interest at eight percent (8%) per annum. The Note is convertible into the Company’s common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note’s issuance. As of December 31, 2014, the entire principle balance of $60,000 was converted into 110,567,623 shares of common stock. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On February 14, 2014, the Company, entered into a Securities Purchase Agreement whereby the Company sold a Convertible Promissory Note to Asher Enterprises, Inc., a Delaware corporation, in the original principal amount of $22,500, and accruing interest at eight percent (8%) per annum. The Note is convertible into the Company’s common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note’s issuance. As of December 31, 2014, Asher has converted $22,200 of principle debt into 192,975,045 shares of common stock, leaving a balance remaining on the convertible note of $300. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. In the year ended December 31, 2014, Asher converted $250,710 of convertible debt and $5,900 of accrued interest into 477,381,748 common shares of the Company. In the year ended December 31, 2013, Asher Enterprises converted $44,490 of convertible notes payable into 7,265,116 common shares. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. Premier Venture Partners, LLC (“Premier”) On October 24, 2013, the Company entered into a court ordered settlement with Premier Venture Partners, LLC in the amount of $63,063. Premier Venture Partners, LLC purchased bona fide accounts payable vendor accounts of the Company in the amount of $63,063 which pursuant to the courts judgment will be settled in the form of common stock of the Company. Premier’s entitled to receive the number of common shares equal to a number, “with an aggregate value equity to (i) the sum of the claim amount plus a 10% settlement fee and plaintiff’s reasonable attorney fees and expense, (ii) divided by the lower of the following: (1) fifty percent of the closing bid price for the trading day immediately preceding the order date or (2) fifty percent of the arithmetic average of the individual daily VWAPs for any five trading days within the calculation period”. The sum of the claim amount plus a 10% settlement fee and plaintiff’s reasonable attorney fees and expenses were calculated as follows: Claim amount $ 63,063 10% settlement fee 6,306 Attorney fees 5,770 Total $ 75,139 Management calculates the conversion price to be $0.00114 using fifty percent of the arithmetic average of the individual daily VWAPs for any five trading days within the calculation period. Accordingly, Premier is entitled to receive 65,911,456 common shares of the Company as part of the settlement. In the year ended December 31, 2014, the Company issued 48,637,933 common shares to Premier pursuant to the court ordered settlement. As of December 31, 2014, the Company issued 58,637,933 shares of common stock to Premier to settle the court ordered liability, leaving a $0 balance owed. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. Dennis Pieczarka On May 22, 2013 the Company executed a convertible debenture agreement with Dennis Pieczarka for a $2,500 convertible note payable with interest of 9% per annum, unsecured and due on May 22, 2014. The holder has the right to convert the principle plus interest into common shares of the Company at a conversion rate of $0.15 per share. Christopher Thompson On April 1, 2013, the Company entered into a Securities Purchase Agreement with Christopher Thompson for a $10,000 convertible note payable due interest at 9% per annum, unsecured, and due April 1, 2014. The note is convertible into common shares of the Company at a conversion rate of $.10per share. On May 27, 2014, Christopher Thompson assigned his $10,000 note with accrued interest of $1,025 to WHC Capital, LLC leaving a $0 balance remaining on this note. On May 1, 2014, the Company entered into a Securities Purchase Agreement and convertible promissory note with Christopher Thompson in the amount of $15,000. The convertible promissory note has interest at 9.9% per annum, unsecured, and due May 1, 2015. The convertible note’s principle and accrued interest may at any time be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. On July 1, 2014, the Company entered into a convertible promissory note with Christopher Thompson in the amount of $15,000. The convertible promissory note has interest at 9.9% per annum, unsecured, and due July 1, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. On August 1, 2014, the Company entered into a convertible promissory note with Christopher Thompson in the amount of $30,000. The convertible promissory note has interest at 9.9% per annum, unsecured, and due February 1, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. On September 29, 2014, the Company entered into a convertible promissory note with Christopher Thompson in the amount of $30,000. The convertible promissory note has interest at 9.9% per annum, unsecured, and due March 29, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. James Ault On July 1, 2013, the Company entered into a Securities Purchase Agreement and convertible note payable with James Ault in the amount of $2,565. The note payable bears interest at 9% per annum, unsecured, and due July 1, 2014. The note is convertible into common shares of the Company at a conversion rate of $.095 per share. Charles Knoop On July 9, 2013, the Company entered into a Securities Purchase Agreement with Charles Knoop for a $1,000 note payable due interest at 9% per annum, unsecured, and due July 9, 2014. The note is convertible into common shares of the Company at a conversion rate of $.095 per share. LG Capital Funding On March 7, 2014, the Company entered into a convertible promissory note with LG Capital Funding, LLC for an amount of $32,000 with 8% per annum and a maturity date of March 7, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the fifteen days prior to conversion. As of December 31, 2014, there has been $15,445 of principle converted into 200,667,134 shares of common stock on this note leaving a balance of $16,555. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On June 16, 2014, the Company entered into a convertible promissory note with LG Capital Funding, LLC for an amount of $42,000 with 8% per annum and a maturity date of June 16, 2015. The convertible note’s principle and accrued interest be converted into shares of the Company’s stock at a conversion rate equal to 55% of the lowest closing bid price in the fifteen days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. JMJ Financial On March 15, 2014, the Company entered into a convertible promissory note with JMJ Financial for up to $500,000 with interest of 12% per annum. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the twenty-five days prior to conversion. In March of 2014, the Company received $30,000 with $7,333 of original issue discount. In June of 2014, the Company received an additional $30,000 with $7,333 of original issue discount. In September of 2014, the Company received an additional $30,000 with $7,333 of original issue discount. As of December 31, 2014, the Company has received $90,000 cash and recorded $22,000 of original issue discount pursuant to this convertible promissory note with JMJ Financial. As of December 31, 2014, JMJ Financial has converted $13,980 of principle into 233,000,000 common shares resulting in a balance of $98,020. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. IBC Funds, LLC On April 24, 2014, IBC Funds, LLC, a Nevada limited liability company, acquired by assignment, debts owed by Monster Arts, Inc. to fourteen (14) creditors in the amount of $208,321. Likewise, on April 24, 2014, IBC Funds and Monster Arts, Inc. executed that certain Settlement Agreement and Stipulation, whereby Monster Arts, Inc. agreed to settle the debt of $208,321, and to pay the debt by the issuance of shares pursuant to Section 3(a)(10) of the Securities Act, which provides that the issuance of shares are exempt from the registration requirement of Section 5 of the Securities Act. In relevant part, Section 3(a)(10) of the Securities Act provides an exemption from the registration requirement for securities: (i) which are issued in exchange for a bona fide claim, (ii) where the terms of the issuance and exchange are found by a court to be fair to those receiving shares, (iii) notice of the hearing is provided to those to receive shares and they are afforded the opportunity to be heard, (iv) the issuer must advise the court prior to its hearing that it intends to rely on the exemption provided in Section 3(a)(10) of the Securities Act, and (v) there cannot be any impediments to the appearance of interested parties at the hearing. On April 25, 2014, in a court proceeding styled IBC Funds, LLC, a Nevada limited Liability Company, Plaintiff vs. ., a Nevada corporation, Defendant, bearing Civil Action in the Circuit Court in the Twelfth Judicial Circuit in and for Sarasota County, Florida As set forth in the order, the court found that the terms and conditions of the exchange were fair to Monster Arts, Inc. and IBC Funds within the meaning of Section 3(a)(10) of the Securities Act, and that the exchange of the debt for our securities was not made under Title 11 of the United States Code. As of December 31, 2014, as permitted by the court order and the Settlement Agreement and Stipulation, the Company has issued 590,000,000 shares to IBC LLC for the conversion of $137,000, leaving a balance of $71,071. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. WHC Capital, LLC On May 27, 2014, Christopher Thompson assigned his $10,000 convertible note payable with accrued interest of $1,025 to WHC Capital, LLC. The original convertible note payable and securities purchase agreement is dated April 1, 2013,in the amount of $10,000 with interest of 9% per annum, unsecured, and due April 1, 2014. As of December 31, 2014, there has been $10,000 of principle and $1,051 of accrued interest converted into 22,325,475 shares of our common stock, leaving a balance of $0 on the this note. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On April 30, 2014, the Company entered into a convertible promissory note with WHC Capital, LLC in the amount of $22,000 , with interest of 12% per annum, unsecured, and due April 30, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 55% of the lowest closing bid price in the fifteen days prior to conversion. As of December 31, 2014, there has been $6,033 of principle converted into 18,282,697 shares of our common stock, leaving a balance of $15,967. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On July 11, 2014, the Company entered into a Securities Exchange and Settlement Agreement (SE&S) with WHC Capital, LLC (WHC, LLC), whereby WHC, LLC purchased $5,161 of note payables debt due to Jennifer Salwender pursuant to an Assignment of Debt Agreement. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 55% of the lowest closing bid price in the fifteen days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. Jennifer Salwender On May 15, 2014, the Company entered into a convertible promissory note with Jennifer Salwender in the amount of $20,000 with 9.9% interest per annum and a maturity date of May 15, 2015. The convertible note’s principle and accrued interest may be converted into common shares of the Company’s after 180 days from the issuance date at a discount of 40% off the lowest closing traded price during the prior 10 trading days to a notice of conversion. As of December 31, 2014, there has been no debt converted on this note. On June 14, 2014, the Company entered into a convertible promissory note with Jennifer Salwender in the amount of $20,000 with 9.9% interest per annum and a maturity date of June 14, 2015. The convertible note’s principle and accrued interest may be converted into common shares of the Company’s after 180 days from the issuance date at a discount of 40% off the lowest closing traded price during the prior 10 trading days to a notice of conversion. As of December 31, 2014, there has been no debt converted on this note. ADAR BAYS, LLC On May 2, 2014, the Company entered into a convertible promissory note with ADAR BAYS, LLC in an amount of $30,000 with 8% per annum and a maturity date of May 2, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 50% of the lowest closing bid price in the fifteen days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. Brent Denlinger On April 16, 2014, the Company entered into a convertible promissory note with Brent Denlinger in an amount of $15,000 with 9.9% per annum and a maturity date of April 16, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. KBM Worldwide, Inc. On June 13, 2014, the Company entered into a convertible promissory note with KBM Worldwide, Inc. in an amount of $63,000 with 8% per annum and a maturity date of March 17, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 55% of the lowest closing bid price in the ten days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. Jessie Redmayne On April 4, 2014, the Company entered into a convertible promissory note with Jessie Redmayne in an amount of $5,000 with 9.9% per annum and a maturity date of April 4, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. Anubis Capital Partners On April 1, 2014, the Company executed a convertible promissory note with Anubis Capital Partners in the amount of $127,900 with interest of 10% per annum and a maturity date of April 1, 2015. The convertible promissory note was executed in return for consulting services provided to the Company. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty days prior to conversion. On June 27, 2014, Anubis Capital Partners entered into a purchase and assumption agreement with Beaufort Capital Partners, LLC whereby Anubis Capital Partners assigned a $63,950 of their note balance to Beaufort Capital Partners, LLC. As of December 31, 2014, Anubis Capital Partners has a balance on this note of $63,950. On October 1, 2014, the Company executed a convertible promissory note with Anubis Capital Partners in the amount of $83,950 with interest of 8% per annum and a maturity date of October 1, 2015. The convertible promissory note was executed in return for three (3) months of consulting services provided to the Company. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty days prior to conversion. There has been no conversion or payments against this note, leaving a balance of $83,950. Beaufort Capital Partners, LLC On June 27, 2014, the Company entered into a convertible promissory note with Beaufort Capital Partners LLC in the amount of $75,000, includes $25,000 of original issue discount, with 12% interest per annum and a maturity date of December 27, 2014. The convertible note’s principle and accrued interest may be converted into common shares of the Company’s after the maturity date at a discount of 50% off the lowest traded price during the prior 20 trading days to a notice of conversion. As of December 31, 2014, Beaufort has converted $1,137 of debt on this note into 113,700,000 shares of common stock, leaving a balance $73,863. The shares were issued free of any restrictions as permitted by Section 3(a)(10) of the Securities Act. On June 27, 2014, Beaufort Capital Partners, LLC (“Beaufort”) entered into a purchase and assumption agreement whereby Beaufort would purchase a portion of a convertible promissory note originally issued to Anubis Capital Partners on April 1, 2014 in the amount of $127,900 with interest of 10% per annum and a maturity date of April 1, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty days prior to conversion. Sojourn Investments, LP On July 14, 2014, the Company entered into a Debt Purchase Agreement with Sojourn Investments, LP whereby the Company issued a convertible promissory note in the amount of $37,500 which included $12,500 of original issue discount and due on June 14, 2015. The convertible note has interest of 12% per annum and is convertible into common shares of the Company at a conversion rate of 50% off the lowest trading market price for 20 days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. On November 15, 2014, the Company entered into a convertible promissory note with Sojourn Investments, LP in the amount of $7,500 which included $1,500 of original issue discount and due on November 15, 2015. The convertible note has interest of 12% per annum and is convertible into common shares of the Company at a conversion rate of 50% off the lowest trading market price for 20 days prior to conversion. As of December 31, 2014, there has been no debt converted on this note. Ambrosial Consulting Group On October 15, 2014, the Company executed a convertible promissory note with Ambrosial Consulting Group in the amount of $67,250 with interest of 8% per annum and a maturity date of October 15, 2015. The convertible promissory note was executed in return for six (6) months of consulting services to be provided to the Company. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty (20) days prior to conversion. As of December 31, 2014, there have been no conversions and the note has a balance of $67,250. The following table summarizes the total outstanding principle on convertible notes payable: December 31, December 31, Convertible Notes Payable- Asher Enterprises, Inc. $ 300 $ 228,510 Convertible Notes Payable - Tangier Investors, LLP - - Convertible Note Payable- Premier Venture Partners LLC - 17,370 Convertible Note Payable- Dennis Pieczarka 2,500 2,500 Convertible Note payable - Christopher Thompson 90,000 10,000 Convertible Note payable - James Ault 2,565 2,565 Convertible Note payable - Charles Knoop 1,000 1,000 Convertible Note payable - LG Capital Funding 58,555 - Convertible Note payable - JMJ Financial 98,020 - Convertible Note payable - IBC Funds, LLC 71,071 - Convertible Note payable - WHC Capital, LLC 21,077 - Convertible Note payable - ADAR BAYS, LLC 30,000 - Convertible Note payable - Brent Delinger 15,000 - Convertible Note payable - Jessie Redmayne 5,000 - Convertible Note payable - Jennifer Salwender 40,000 - Convertible Note payable - Anibus Capital Partners 147,900 - Convertible Note payable - Beaufort Capital Partners, LLC 137,812 - Convertible Note payable - KBM Worldwide 63,000 - Convertible Note payable - Sojourn Investments, LP 45,000 - Convertible Note payable - Ambrosial Consulting Group 67,250 Less: Debt discount (339,934 ) (113,361 ) Total Convertible Notes Payable, net of discounts $ 556,116 $ 148,584 Debt Discount In the years ended December 31, 2014 and 2014, the Company recorded interest expense pertaining to debt discount on our convertible note in the amounts of $906,525 and $255,230. As of December 31, 2014 and 2013, the Company has a debt discount balance in the amounts of $339,934 and $113,361. Accrued Interest As of December 31, 2014 and 2013, the Company has an accrued interest balance pertaining to its outstanding liabilities in the amounts $67,907 and $11,695, respectively. Derivative liability The conversion feature included in our outstanding convertible promissory notes constitute a derivative and have been bifurcated from the note and recorded as a derivative liability, with a corresponding discount recorded to the associated debt on the accompany balance sheet. The Company calculates the derivative liability using the Black Scholes Model which takes into consideration the stock price on the grant date, exercise price with discount to market conversion rate, stock volatility, expected life of the note, risk-free rate, annual rate of quarterly dividends, call option value and put option value. As of December 31, 2014 and December 31, 2013, the Company had $1,564,098 and $994,778 in derivative liability pertaining to the outstanding convertible notes. The following is the range of variables used in revaluing the derivative liabilities at December 31, 2014 and December 31, 2013: December 31, December 31, Annual dividend yield 0 0 Expected life (years) of 0.01 – .95 0.01 – .90 Risk-free interest rate 10 % 10 % Expected volatility 563.9 % 373.4 % |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2014 | |
Stockholders' Deficit [Abstract] | |
STOCKHOLDERS' DEFICIT | NOTE 8 - STOCKHOLDERS' DEFICIT Reverse Stock Split (See Note 13 – Subsequent Events) On August 28, 2014, the Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for two hundred (1:200) of the Company's total issued and outstanding shares of common stock. The reverse stock split went effective with FINRA on January 16, 2015 which makes it a subsequent event in this Form 10-K filing. The Company has not made any adjustments to its financial statement regarding the reverse stock split in this filing. The reverse stock split can be further referenced in our Form 8-K filing on January 16, 2015. Authorized Common Stock On July 19, 2013, the Company amended its articles of incorporation to increase its authorized shares from 75,000,000 to 750,000,000 of which 730,000,000 were designated as common stock and 20,000,000 were designated as preferred stock. The shares have a par value of $0.001. In August of 2014, the Company amended is articles of incorporation to increase the number of authorized common shares from 730,000,000 to 5,000,000,000 with a par value of $0.001. Authorized Preferred Stock The Company has designated 20,000,000 preferred shares as Series A Preferred Stock, par value $0.001. Each share of Series A Preferred Stock can vote equal to 100 shares of common stock and can be converted to common stock at a rate of 1 to 1. Issuance of Preferred Stock The Company has 20,000,000 Series A preferred shares issued and outstanding as of December 31, 2014 all of which were issued to the Company’s chief executive officer, Wayne Irving II, for services rendered. The preferred shares were valued at par $0.001 which resulted in recording compensation expense of $20,000. Issuance of Common Stock In the year ended December 31, 2013, the Company issued 26,136,087 common shares of which 861,751 shares were for $454,300 cash ($278,425 received in 2012), 7,355,667 shares were to consultants for services, 14,775,358 shares were for the reduction of $128,083 in convertible debt and $82 of accrued interest, and 3,143,311 shares were for the conversion of 13,767,684 shares of Ad Shark. The shares to consultants were valued at the closing stock price on the date of the executed agreement. This resulted in a consulting expense of $814,275 being recorded for the year ended December 31, 2013. The uncompleted portions of the consulting contracts for future services were recorded as prepaid expenses (See Note 4 for further details). At December 31, 2013, the Company recorded $139,996 in prepaid expenses pursuant to future consulting services to be performed in 2014 pursuant to contract obligations. Of the 7,355,667 shares issued to consultants, 323,833 shares were incorrectly issued and later returned and cancelled. In the year ended December 31, 2014, the Company issued 2,152,805,559 common shares of which 477,381,748 shares were issued to Asher Enterprises, Inc. for the conversion of $250,710 of principle and $5,900 of accrued interest, 58,637,933 shares were issued to Premier Venture Partners, LLC pursuant to the court ordered settlement, 590,000,000 shares were issued to IBC Funds, LLC for the conversion of $81,000 of convertible debt, 40,608,172 shares to WHC Capital, LLC for the conversion of $17,084 in convertible debt, 233,000,000 shares to JMJ Financial for the conversion of $13,980 of convertible debt, 113,700,000 shares to Beaufort Capital for the conversion of $1,137 of convertible debt, 200,667,134 shares were issued to LG Capital, LLC for the conversion of $15,445 of convertible debt, 24,998,879 shares were issued to Ad Shark, Inc. shareholders for the conversion of their Ad Shark, Inc. shares at a ratio of 4.38 Ad Shark shares to Monster Arts Inc. shares, 350,000,000 shares were issued to our chief executive officer, Wayne Irving, for the reduction of $87,500 in accrued payroll liability, and 63,811,693 shares were to consultants for services rendered to the Company. The Company valued the 413,811,693 shares to consultants at the closing share price on the date of issuance which resulted in the Company recording a non-cash consulting expense of $244,847. |
Contingency Agreements
Contingency Agreements | 12 Months Ended |
Dec. 31, 2014 | |
Contingency Agreements [Abstract] | |
CONTINGENCY AGREEMENTS | NOTE 9 – CONTINGENCY AGREEMENTS Master Purchase Agreement with Iconosys On March 4, 2013, the Company and Iconosys, a privately held corporation, which shares an officer with the Company, entered into a Master Purchase Agreements in order for the Company to purchase, and for Iconosys to sell, certain intellectual property assets, including, without limitation, domain names, trademarks, smart phone apps. In addition, the Company received 15,046,078 shares of Iconosys common stock, $0.001 par value, as consideration for the cancellation of $295,862 in advances to Iconosys and $2,884 in accrued interest receivable. The Iconosys stock received accounts for approximately 10% of the 150,460,781 shares of Iconosys issued and outstanding as of December 31, 2014. Management Service Agreement with Iconosys On July 16, 2013, the Company executed a management service agreement with a subdivision of Iconosys called Text Kills. Iconosys shares an officer with the Company. The Company will provide service and management support for Text Kills events which includes but is not limited to raising awareness, public education campaigns, and managing the Text Kills tour bus. In the years ended December 31, 2014 and 2013 the Company recognized $250 and $5,387 in commission revenues from related parties relating to Text Kills. Joint Venture agreement with Intelligent Living Inc. On November 1, 2013, the Company executed a joint venture agreement with Intelligent Living, Inc. (“ILIV”). You can read the full agreement in the registrant’s SEC Form 8-K filing on November 5, 2013. The Company will provide ILIV comprehensive and end-to-end turnkey business function through its development of smartphone and tablet apps. The Company’s revenue sharing will be 35% of gross payments from app sales from Google Play and 50% of gross payments from app sales through Amazon, Nook, iTunes, and others. The Company will be paid in the form of stock by ILIV which is a publically traded company trading on the OTCQB under the symbol “ILIV”. The Company will be paid 36,600,000 common shares of ILIV in quarterly installments over a period of 2 years from the date of the agreement. The Company has been paid an initial 10,000,000 common shares upon closing of the agreement which were valued at the closing price of ILIV stock on November 1, 2013 which was $0.001. This resulted in the Company recording an available-for-sale securities asset of $10,000. The available-for-sale securities asset was revalued at December 31, 2014 using the closing price of ILIV of $0.0006 per share which resulted in the Company recording an unrealized gain on available-for-sale securities of $2,034. Employment Agreement with Chief Executive Officer, Wayne Irving On August 1, 2011, the Company’s wholly owned subsidiary, Ad Shark, entered into an employment agreement with its President Wayne Irving. The term of employment shall be three (3) years, commencing on the August 1, 2011 and terminating on July 31, 2014, or at a later mutually agreeable date. Salary compensation is to be paid at the rate of $88,500 annually, payable on a monthly basis. On the anniversary of employment, this rate will increase 5% annually. Monster Arts, Inc. absorbed the employment agreement when Ad Shark was dissolved in early 2014. As of December 31, 2014 and December 31, 2013, the Company had accrued wages of $46,800 and $155,706, respectively which are included in accounts payable and accrued expenses to related party balance. In the year ended December 31, 2014, the Company entered into a debt settlement agreement with its chief executive officer, Wayne Irving, whereby the Company issued 350,000,000 shares of common stock for the reduction of $87,500 in accrued payroll liability. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 12 – RELATED PARTY TRANSACTIONS Issuance of Preferred Stock The Company has 20,000,000 Series A preferred shares issued and outstanding as of December 31, 2014 which were issued to the Company’s chief executive officer, Wayne Irving II, for services rendered. Debt Settlement Agreement Chief Executive Officer On June 15, 2014, the Company entered into a debt settlement agreement with its chief executive officer, Wayne Irving, whereby the Company issued 100,000,000 shares of common stock for the reduction of $25,000 in accrued payroll liability. On July 30, 2014, the Board of Directors of the Company authorized and approved the execution of a settlement agreement with the Company’s chief executive officer, Wayne Irving II, whereby the Company will issue 250,000,000 restricted common shares in return for the reduction in $62,500 in accrued liabilities payable to Mr. Irving pursuant to an employment agreement. Appointment of Chief Financial Officer In August of 2014, the Company appointed Tisha Lawton as the Secretary, Treasurer and Chief Financial Officer of the Company. Ms. Lawton is a sibling of our Chief Executive Officer, Wayne Irving II. Tisha Lawton resigned as Secretary, Treasure and Chief Financial Officer of the Company in December of 2014. Wayne Irving II assumed her title as Chief Financial Officer. Equity interest in Candor Homes Corporation On April 25, 2014, the Company entered into a subscription agreement to buy 53,000 shares of common stock of Candor Homes Corporation, (“CH, Inc.”) for $10,000 which represents 53% of the equity interest in CH, Inc. As of December 31, 2014, there has been no activity with CH, Inc. and the Company has recorded accounts payable to related party balance of $10,000. The only two directors of CH, Inc. are our chief executive officer, Wayne Irving II and his sister. CH, Inc. is activity analyzing potential land investments in Central Iowa where new homes could be built. As of December 31, 2014, there are no assets, liabilities or activity in CH, Inc. Asset Purchase Agreement with Iconosys for TAVG The Company approved the execution of certain asset purchase and domain name, web site content and trademark assignment agreement dated August 8, 2013 with Iconosys, Inc., a private California corporation which shares an officer with the Company. See footnote 6 for additional details. Management Service Agreement with Iconosys On July 16, 2013, the Company executed a management service agreement with a subdivision of Iconosys called Text Kills. Iconosys shares an officer with the Company. The Company will provide service and management support for Text Kills events which includes but is not limited to raising awareness, public education campaigns, and managing the Text Kills tour bus. In the years ended December 31, 2014 and 2013 the Company recognized $1,750 and $5,387 of commission revenues from related parties relating to Text Kills. Notes Payable to Related Parties In 2012, the Company had certain debts paid directly by Iconosys, a private California corporation which shares an officer with the Company. The amounts paid on behalf of the Company totaled $13,250 as of December 31, 2014 and December 31, 2013. They were recorded as a note payable to related party. The note payable has terms of 0% interest and is payable on demand. Pursuant to the asset purchase agreement with Iconosys executed on August 8, 2013, further described in Note 6, the Company issued a promissory note to Iconosys in the amount of $45,000, due August 7, 2014, with annum interest of 4% for the purchase of TAVG (see Note 6). As of December 31, 2014, the note to Iconosys has a balance of $2,244. At December 31, 2014 and December 31, 2013, the Company had notes payable to related parties balance of $15,494 and $57,480. Loan receivable to related party The Company’s subsidiary, Ad Shark Inc., has a $300,000 line of credit agreement with Iconosys. The line of credit agreement has terms of 4%, payable on demand. Iconosys is a private California corporation which shares an officer with the Company. Mr. Irving was appointed CFO in May of 2012 and then appointed CEO in late 2012. Iconosys was at one time the parent company to Ad Shark, Inc. At December 31, 2014 and December 31, 2013, the total loan receivable balance advanced to Iconosys is $284,943 and $290,532, respectively. At December 31, 2014 and December 31, 2013, the accrued interest receivable to related party balance was $26,715 and $15,577, respectively. Employment Agreement with Chief Executive Officer, Wayne Irving On August 1, 2011, the Company’s wholly owned subsidiary, Ad Shark, entered into an employment agreement with its President Wayne Irving. The term of employment shall be three (3) years, commencing on the August 1, 2011 and terminating on July 31, 2014, or at a later mutually agreeable date. Salary compensation is to be paid at the rate of $88,500 annually, payable on a monthly basis. On the anniversary of employment, this rate will increase 5% annually. Monster Arts, Inc. absorbed the employment agreement when Ad Shark was dissolved in early 2014. As of December 31, 2014 and December 31, 2013, the Company had accrued wages owed to Wayne Irving II in the amounts of $46,800 and $155,706. Employment Agreement with Chief Financial Officer, Tisha Lawton In August of 2014, the Company appointed Tisha Lawton as the Secretary, Treasurer and Chief Financial Officer of the Company. The Company will pay Mrs. Lawton a yearly salary of $10,000. As additional compensation, Mrs Lawton will be paid 5,000,000 shares of restricted common stock per calendar quarter or the equivalent of $12,000, whichever is less. In the year ended December 31, 2014, the Company issued 5,000,000 common shares to Mrs. Lawton. In December of 2014, Mrs. Lawton resigned as the Secretary, Treasurer and Chief Financial Officer of the Company. Her employment agreement was cancelled in December of 2014. Loan from Officer The Company was loaned money by Wayne Irving, the chief executive officer of the Company, with 0% interest and payable on demand. At December 31, 2014 and 2013 the loan from officer balance was $2,500 and $17,021. Master Purchase Agreement with Iconosys On March 4, 2013, the Company and Iconosys, a privately held corporation, which shares an officer with the Company, entered into a Master Purchase Agreements in order for the Company to purchase, and for Iconosys to sell, certain intellectual property assets, including, without limitation, domain names, trademarks, smart phone apps. In addition, the Company received 15,046,078 shares of Iconosys common stock, $0.001 par value, as consideration for the cancellation of $295,862 in advances to Iconosys and $2,884 in accrued interest receivable. The Iconosys stock received accounts for approximately 10% of the 150,460,781 shares of Iconosys issued and outstanding as of December 31, 2014. Ad Shark Acquisition The Chairman, Chief Executive Officer and Chief Financial Officer of Monster Offers is Wayne Irving II; Mr. Irving has been an officer and director of the Company since May 15, 2012. On November 9, 2012, Monster Offers entered into an Acquisition Agreement and Plan of Merger to acquire Ad Shark. At the time of this transaction, Wayne Irving II was also the Chief Executive Officer and a director of Ad Shark. He is also the Chief Executive Officer, Director and majority shareholder of Iconosys, Inc. (“Iconosys”), which owned Ad Shark prior to Iconosys’ spinoff (the “Spinoff”) of its shareholdings in Ad Shark to its shareholders. Subsequent to the Spinoff, Ad Shark merged with Monster Offers (the “Merger”). As a result of the Merger, Mr. Irving became the director, Chairman, Chief Executive Officer and Chief Financial Officer of the Company, which was the surviving entity of the Merger, and remains the largest shareholder of the Company. As a condition of the Merger between Monster Offers and Ad Shark, Monster Offers agreed to keep in full force and effect a three-year Employment Agreement between Ad Shark and Mr. Irving which was entered into on August 1, 2012. As a condition of the Merger between Monster Offers and Ad Shark, Monster Offers agreed to keep in full force and effect and to honor an ISO (Independent Sales Organization) Agreement between Ad Shark and Iconosys for the duration of the agreement, which terminates in June, 2013. At the time that subject agreement was entered into by the parties, Wayne Irving II was a principal executive officer and director for both Ad Shark and Iconosys. This Agreement allows Ad Shark to receive compensation from Iconosys in exchange for services rendered by Ad Shark in connection with its acting as Iconosys’ Independent Sales Organization. Under the terms of this Agreement, at the time of the Merger, Iconosys currently had an obligation to pay Ad Shark approximately $75,000. As a condition of the Merger between Monster Offers and Ad Shark, Monster Offers agreed to keep in full and effect and to honor the Engagement Agreement dated March 19, 2011 between the Law Office of Brandon S. Chabner, a Professional Corporation, and Ad Shark. Brandon S. Chabner, Esq., is a director and corporate officer of Iconosys and 5%-plus shareholder of Monster Offers. The above-referenced Engagement Agreement provides for the provision of discounted cash rate legal services in exchange for equity-based compensation. As a condition of the Merger between Monster Offers and Ad Shark, Monster Offers agreed to keep in full and effect and to honor a Line of Credit Agreement dated June 19, 2012 (the “LOC Agreement”) between Ad Shark, as “Lender,”, and Iconosys, as “Borrower.” This is a $300,000 revolving line of credit, pursuant to which, as of the effective time of the Merger, Iconosys has an obligation to repay Ad Shark approximately $271,000 in borrowings. This represents funds borrowed by Iconosys from Ad Shark on various dates during the period June 19, 2012 through October 9, 2012. Monster Offers agreed to assume Ad Shark’s rights and obligations under the LOC Agreement as an integral part of this Merger. As of the Effective Time of the Merger, Monster Offers also owed Iconosys approximately $75,000 in repayments of monies previously borrowed by Monster Offers from Iconosys, and which obligation, as agreed to by Monster Offers and Ad Shark in the Merger Agreement, may be offset by Iconosys against Iconosys’ repayment obligations to Monster Offers under the LOC Agreement. As a condition of the Merger between Monster Offers and Ad Shark, Monster Offers agreed to keep in full effect two separate Consulting Agreements, each dated June 1, 2012, between Ad Shark and Paul Gain, a former officer and director of Monster Offers, and between Ad Shark and Paul West. Under each of these Consulting Agreements, Ad Shark paid grants of Common Stock of Five Million (5,000,000) and One Million Five Hundred Thousand (1,500,000) of restricted Ad Shark shares to Mr. Gain and Mr. West, respectively, for past consulting services rendered to Ad Shark. As part of these Consulting Agreements, each of |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 13 - SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that other than mentioned below no other material subsequent events exist. 1. On August 28, 2014, the Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for 200 hundred (1:200) of the Company's total issued and outstanding shares of common stock. The Stock Split was effected on January 16, 2015 based upon the filing of appropriate documentation with FINRA. The Stock Split decreased the Company's total issued and outstanding shares of common stock from approximately 2,182,007,174 shares to 10,910,194 shares of common stock. 2. From January 1, 2015 through the date of this filing, the Company issued 827,826,153 post reverse stock split shares of common stock of which 827,626,153 shares were for the reduction of $75,992 in principle convertible debt and $4,674 in accrued interest and 200,000 shares were for services valued at $4,000. 3. On March 12, 2015, the Company entered into the Equity Purchase Agreement with Premier Venture. Pursuant to the terms and provisions of the Equity Purchase Agreement, for a period of thirty-six (36) months commencing on the date of effectiveness of the Registration Statement. Premier Venture shall commit to purchase up to $5,000,000 of the Company's common stock, $.001 par value (the "Shares"), pursuant to Puts (as defined below) covering the Registrable Securities (as defined below). The Purchase Price for the Shares for each Put shall be the put amount multiplied by seventy percent (70%) of the lowest individual daily VWAP of the Shares during the pricing period less six hundred dollars ($600.00). The maximum number of Shares that the Company shall be entitled to Put to Premier Venture per any applicable Put Notice (the “Put Amount”) shall not exceed the lesser of (i) 200% of the average daily trading volume of Company’s common stock on the five trading days prior to the date the Put Notice is received by Premier Venture; and (ii) 120% of the highest put amount on any put notice delivered under the Equity Purchase Agreement (the amount shall never be less than 1,000,000 shares). Notwithstanding the preceding sentence, the Put Amount cannot exceed 4.99% of the outstanding shares of the Company. 4. On March 12, 2015, the Company entered into the Registration Rights Agreement with Premier Venture. Pursuant to the terms and provisions of the Registration Rights Agreement, the Company is obligated to file a registration statement (the "Registration Statement") with the Securities and Exchange Commission to cover the Registrable Securities within thirty (30) days from the date of execution of the Registration Rights Agreement. The Company must use its commercially reasonable efforts to cause the Registration Statement to be declared effective by the Securities and Exchange Commission. 5. On March 13, 2015, Carebourn Capital, L.P. entered into a purchase and assignment agreement with Brent Denlinger, holder of a $15,000 convertible promissory note with the Company, to purchase and assign the note in full which included accrued interest of $1,554. The original note bears interest of 9.9% per annum and has a maturity date of April 16, 2015. The convertible note’s principle and accrued interest may be converted into shares of the Company’s stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. 6. On March 19, 2015 the Company entered into a securities purchase agreement and convertible promissory note with Carebourn Capital, L.P., a Delaware limited partnership, for the sum of $41,500. The Company received $35,000 cash with the remaining $6,500 being classified as original issue discount. The note bears interest of 12% per annum, matures on December 19, 2015 and may be converted into shares of the Company at a conversion rate of 50% multiplied by average of the lowest three (3) trading prices ten (10) trading days prior to the conversion date. 7. On April 1, 2015, the Company issued a replacement convertible promissory note to Darling Capital, LLC in the amount of $33,000 plus accrued interest of $3,119. Darling Capital, LLC purchased a portion of a convertible promissory note dated April 1, 2014 issued to Anibus Capital Partners in the original amount of $127,900. The replacement convertible promissory note bears interest of 10% per annum and is due on July 12, 2015. |
Restated Financial Statements
Restated Financial Statements | 12 Months Ended |
Dec. 31, 2014 | |
Restated Financial Statements [Abstract] | |
RESTATED FINANCIAL STATEMENTS | NOTE 14 – RESTATED FINANCIAL STATEMENTS The Company has restated its consolidated balance sheet as of December 31, 2013, its consolidated statement of operations for the year ended December 31, 2013 and its consolidated statement of cash flows for the year ended December 31, 2013 for the following; 1. Recalculation of derivative liability and debt discount relating to the Company’s outstanding convertible debentures. The following are previously recorded and restated balances as of December 31, 2013, for the year ended December 31, 2013. December 31, 2013 Originally Reported Restated Difference Cash $ 46,234 $ 46,234 $ - Accounts receivable, net of allowance for doubtful accounts of $1,250 4,173 4,173 - Loan receivable to related party 290,532 290,532 - Interest receivable to related party 15,577 15,577 - Prepaid expenses 139,996 139,996 - Total Current Assets 496,512 496,512 - Fixed Assets Property and equipment, net 460 460 - Total Fixed Assets 460 460 - Other Assets Available-for-sale securities 6,000 6,000 - Total Other Assets 6,000 6,000 - Total Assets $ 502,972 $ 502,972 $ - Liabilities and Stockholders' Equity: Current Liabilities Accounts payable & accrued expenses $ 67,586 $ 67,586 $ - Accounts payable & accrued expenses to related parties 169,577 165,913 3,664 Accrued interest 11,659 11,659 - Deferred revenues 18,359 18,359 - Loan from officer 17,021 17,021 - Notes payable 10,161 10,161 - Notes payable to related party 57,480 57,480 - Convertible notes payable, net of discounts 261,945 148,584 113,361 Derivative Liability 21,876,947 994,778 20,882,169 Total Liabilities 22,490,735 1,491,541 20,999,194 Stockholders' Equity: Common stock, $0.001 par value 5,000,000,000 shares authorized, 2,182,007,174 and 29,201,615 shares issued and outstanding, respectively 29,202 29,202 - Additional paid in capital 6,121,441 6,126,501 (5,060 ) Stock subscription payable 493,673 488,613 5,060 Accumulated Comprehensive Gain / (Loss) (4,000 ) (4,000 ) - Deficit accumulated during the development stage (28,628,079 ) (7,628,885 ) (20,999,194 ) Total stockholders' equity (deficit) (21,987,763 ) (988,569 ) (20,999,194 ) Total Liabilities and Stockholders' Equity $ 502,972 $ 502,972 $ - For the Year ended December 31, 2013 Originally Reported Restated Difference Commissions $ 13,750 $ 13,750 $ - Commissions- related parties 11,470 - 11,470 License revenues - 18,163 (18,163 ) Services 1,961 14,097 (12,136 ) Services- related party 5,387 5,387 - Other revenues - - - 32,568 51,397 (18,829 ) Cost of services 12,627 4,838 7,789 Gross Profit 19,941 46,559 (26,618 ) Operating expenses: General and administration 80,399 1,090,191 (1,009,792 ) Consulting 991,122 192,635 798,487 Wages 177,642 68,017 109,625 Marketing and promotions 17,097 5,000 12,097 Depreciation and amortization 44,974 470 44,504 Professional fess 121,519 91,855 29,664 Total operating expenses 1,432,753 1,448,168 (15,415 ) Income (Loss) from operations (1,412,812 ) (1,401,609 ) (11,203 ) Other income and (expenses): - Interest expense (14,950 ) (270,120 ) 255,170 Interest expense- derivative (21,876,947 ) (3,947,092 ) (17,929,855 ) Interest income 9,643 9,643 - Gain/(Loss) on derivative adjustment - 3,372,238 (3,372,238 ) Loss on debt settlement - - - Debt forgiveness 4,096 4,096 - Refund on expenses - - - Impairment expense - - - Total other income and (expenses) (21,878,158 ) (831,235 ) (21,046,923 ) Net loss before taxes $ (23,290,970 ) $ (2,232,844 ) $ (21,058,126 ) - Tax provisions - - - Net loss after taxes $ (23,290,970 ) $ (2,232,844 ) $ (21,058,126 ) Other Comprehensive Income: Unrealized loss/(gain) on available-for-sale securities 4,000 4,000 - Other Comprehensive Income (Loss) $ (23,294,970 ) $ (2,236,844 ) $ (21,058,126 ) Basic & diluted loss per share $ (3.28 ) (0.31 ) $ (3 ) Weighted average shares outstanding 7,102,414 7,102,414 - For the Year Ended December 31, 2013 Originally Reported Restated Difference CASH FLOWS FROM OPERATING ACTIVITIES: Net Loss for the period $ (23,290,970 ) $ (2,232,844 ) $ (21,058,126 ) Adjustments to reconcile net loss to net cash provided by operating activities: Impairment loss - - - License revenues- non cash - - - Available-for-sale securities revenues (3,050 ) (3,050 ) - Debt discount - 255,230 (255,230 ) Non-cash compensation - - - Forgiveness of debt - - - Financing fees - - - (Gain)/loss on change in derivative adjustment 21,876,947 574,854 21,302,093 Stock for services expense 998,568 998,568 - Stock options for services - - - Stock for note extension - - - Convertible note issued for consulting services - - - Bad debt - - - Loss on debt settlement - - - Strategic alliance costs - - - Effect from share exchange - - - Master purchase agreement (298,745 ) (298,745 ) - Depreciation and amortization 44,974 44,974 - Changes in Operated Assets and Liabilities: (Increase) decrease in prepaids - - - (Increase) decrease in accounts receivable - - - Increase in interest receivable (6,737 ) (6,737 ) - Increase (decrease) in loan receivable to related party 18,356 18,356 - Increase in deferred revenues 18,359 18,359 - Increase (decrease) in accounts payable and accrued expenses 65,480 54,217 11,263 Increase in accounts payable to related parties 42,358 42,358 - Increase (decrease) in accrued interest 9,847 9,847 - Net cash (used) in operating activities (524,613 ) (524,613 ) - CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sale of stock 168,875 168,875 - Stock subscription payable 7,000 7,000 - Proceeds from officer loan 18,165 18,165 - Payments on officer loan (102,270 ) (102,270 ) - Proceeds from convertible notes 286,865 286,865 - Payments on convertible notes - - - Proceeds from notes payable 10,161 10,161 - Payments on notes payable - - - Proceeds from notes payable to related party (770 ) (770 ) - Payments on notes payable to related party - - - Contributed Capital - - - Net Cash Provided by Financing Activities 388,026 388,026 - Net (Decrease) Increase in Cash (136,586 ) (136,586 ) - Cash at Beginning of Period 182,820 182,820 - Cash at End of Period $ 46,234 $ 46,234 $ - SUPPLEMENTAL DISCLOSURES: Income Taxes Paid - - - Interest Paid - - - NON-CASH INVESTING AND FINANCING ACTIVITIES: Stock issued for purchase of license - - - Stock issued for conversion of convertible notes payable 128,165 128,165 - Stock issued for debt settlement - - - Increase in prepaid stock compensation - - - |
Significant Accounting Polici20
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Significant Accounting Policies [Abstract] | |
Basis of Accounting | Basis of Accounting These financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). |
Principles of consolidation | Principles of consolidation The accompanying consolidated financial statements include all of the accounts of the Company and Candor Homes Corporation as of December 31, 2014 and December 31, 2013. The Company has an equity interest in the following entities; ● The Company has accounted for the non-controlling interest using GAAP accounting standards. All intercompany balances and transactions have been eliminated. |
Development Stage Company | Development Stage Company The Company is currently a development stage enterprise reporting under the provisions of FASB ASC Topic 915 , Development Stage Entity |
Reclassification | Reclassification On April 9, 2012, the Company executed a 300 to 1 reverse stock split, which was retrospectively applied to our financial statements. On August 28, 2014, the Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for 200 hundred (1:200) of the Company's total issued and outstanding shares of common stock. The reverse stock split was effective on January 16, 2015 based upon the filing of appropriate documentation with FINRA. The Company did not record any effects of the reverse stock split in the financial statements presented herein as the effective date was subsequent to reporting date, December 31, 2014. See Subsequent Events footnote for additional disclosure. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less at the date of purchase to be cash equivalents. As of December 31, 2014 and December 31, 2013, there are no cash equivalents. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition In accordance with ASC 605 and SEC Staff Accounting Bulletin 104, fee revenue is recognized in the period that the Company's advertiser customer generates a sale or other agreed-upon action on the Company's affiliate marketing networks or as a result of the Company's other services, provided that no significant Company obligations remain, collection of the resulting receivable is reasonably assured, and the fees are fixed or determinable. All transactional services revenues are recognized on a gross basis in accordance with the provisions of ASC Subtopic 605-45, due to the fact that the Company is the primary obligor, and bears all credit risk to its customer, and publisher expenses that are directly related to a revenue-generating event are recorded as a component of commission paid. |
Earnings per Share | Earnings per Share Historical net (loss) per common share is computed using the weighted average number of common shares outstanding. Diluted earnings per share include additional dilution from common stock equivalents, such as stock issuable pursuant to the exercise of securities or other contracts to issue common stock that were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the entity. |
Accounts receivable | Accounts receivable Accounts receivable are stated at the amount management expects to collect from balances outstanding at year end. Management provides for probable uncollectible amounts through a charge to earnings and a credit to an allowance based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance. As of December 31, 2014 and December 31, 2013, we have $1,250 and 5,423, respectively, in accounts receivable and $1,250 charged to allowance for doubtful accounts. |
Equipment | Equipment Equipment is stated at cost, less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which consist of computer equipment, which is 3 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for equipment betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in other income or expense. The Company will periodically evaluate whether events and circumstances have occurred that may warrant revision of the estimated useful lives of equipment and website development costs or whether the remaining balance of equipment should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the equipment in measuring their recoverability. |
Website Development Costs | Website Development Costs The Company recognizes the costs associated with developing a website in accordance with FASB ASC 350-50 “ Website Development Costs”. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying amounts of the financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities, approximate fair value due to the short maturities of these financial instruments. The notes payable are also considered financial instruments whose carrying amounts approximate fair values. |
Intangible assets | Intangible assets The Company follows Financial Accounting Standard Board’s (FASB) Codification Topic 350-10 (“ASC 350-10”), “Intangibles - Goodwill and Other” to determine the method of amortization of its intangible assets. The Company’s intangible assets are capitalized at historical cost and are amortized over their useful lives. The Company amortizes its license of SSL5 intellectual property using the straight-line method over an estimated useful life of 10 years. |
Stock-based compensation | Stock-based compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non-employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505. |
Income Taxes | Income Taxes The Company accounts for its income taxes in accordance with Income Taxes Topic of the FASB ASC 740, which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Company management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements. |
Fixed assets (Tables)
Fixed assets (Tables) | 12 Months Ended |
Dec. 31, 2014 | |
Fixed Assets [Abstract] | |
Schedule of property and equipment | December 31, December 31, Property and equipment, net $ 2,364 $ 2,364 Less: accumulated depreciation 2,364 1,904 Property and equipment, net $ - $ 460 |
Convertible Notes Payable (Tabl
Convertible Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2014 | |
Convertible Notes Payable [Abstract] | |
Schedule of total amount of claim | Claim amount $ 63,063 10% settlement fee 6,306 Attorney fees 5,770 Total $ 75,139 |
Schedule of total outstanding principle on convertible notes payable | December 31, December 31, Convertible Notes Payable- Asher Enterprises, Inc. $ 300 $ 228,510 Convertible Notes Payable - Tangier Investors, LLP - - Convertible Note Payable- Premier Venture Partners LLC - 17,370 Convertible Note Payable- Dennis Pieczarka 2,500 2,500 Convertible Note payable - Christopher Thompson 90,000 10,000 Convertible Note payable - James Ault 2,565 2,565 Convertible Note payable - Charles Knoop 1,000 1,000 Convertible Note payable - LG Capital Funding 58,555 - Convertible Note payable - JMJ Financial 98,020 - Convertible Note payable - IBC Funds, LLC 71,071 - Convertible Note payable - WHC Capital, LLC 21,077 - Convertible Note payable - ADAR BAYS, LLC 30,000 - Convertible Note payable - Brent Delinger 15,000 - Convertible Note payable - Jessie Redmayne 5,000 - Convertible Note payable - Jennifer Salwender 40,000 - Convertible Note payable - Anibus Capital Partners 147,900 - Convertible Note payable - Beaufort Capital Partners, LLC 137,812 - Convertible Note payable - KBM Worldwide 63,000 - Convertible Note payable - Sojourn Investments, LP 45,000 - Convertible Note payable - Ambrosial Consulting Group 67,250 Less: Debt discount (339,934 ) (113,361 ) Total Convertible Notes Payable, net of discounts $ 556,116 $ 148,584 |
Schedule of the range of variables used in revaluing the derivative liability | December 31, December 31, Annual dividend yield 0 0 Expected life (years) of 0.01 – .95 0.01 – .90 Risk-free interest rate 10 % 10 % Expected volatility 563.9 % 373.4 % |
Restated Financial Statements (
Restated Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2014 | |
Restated Financial Statements [Abstract] | |
Consolidated Balance Sheets | December 31, 2013 Originally Reported Restated Difference Cash $ 46,234 $ 46,234 $ - Accounts receivable, net of allowance for doubtful accounts of $1,250 4,173 4,173 - Loan receivable to related party 290,532 290,532 - Interest receivable to related party 15,577 15,577 - Prepaid expenses 139,996 139,996 - Total Current Assets 496,512 496,512 - Fixed Assets Property and equipment, net 460 460 - Total Fixed Assets 460 460 - Other Assets Available-for-sale securities 6,000 6,000 - Total Other Assets 6,000 6,000 - Total Assets $ 502,972 $ 502,972 $ - Liabilities and Stockholders' Equity: Current Liabilities Accounts payable & accrued expenses $ 67,586 $ 67,586 $ - Accounts payable & accrued expenses to related parties 169,577 165,913 3,664 Accrued interest 11,659 11,659 - Deferred revenues 18,359 18,359 - Loan from officer 17,021 17,021 - Notes payable 10,161 10,161 - Notes payable to related party 57,480 57,480 - Convertible notes payable, net of discounts 261,945 148,584 113,361 Derivative Liability 21,876,947 994,778 20,882,169 Total Liabilities 22,490,735 1,491,541 20,999,194 Stockholders' Equity: Common stock, $0.001 par value 5,000,000,000 shares authorized, 2,182,007,174 and 29,201,615 shares issued and outstanding, respectively 29,202 29,202 - Additional paid in capital 6,121,441 6,126,501 (5,060 ) Stock subscription payable 493,673 488,613 5,060 Accumulated Comprehensive Gain / (Loss) (4,000 ) (4,000 ) - Deficit accumulated during the development stage (28,628,079 ) (7,628,885 ) (20,999,194 ) Total stockholders' equity (deficit) (21,987,763 ) (988,569 ) (20,999,194 ) Total Liabilities and Stockholders' Equity $ 502,972 $ 502,972 $ - |
Consolidated Statements of Operations | For the Year ended December 31, 2013 Originally Reported Restated Difference Commissions $ 13,750 $ 13,750 $ - Commissions- related parties 11,470 - 11,470 License revenues - 18,163 (18,163 ) Services 1,961 14,097 (12,136 ) Services- related party 5,387 5,387 - Other revenues - - - 32,568 51,397 (18,829 ) Cost of services 12,627 4,838 7,789 Gross Profit 19,941 46,559 (26,618 ) Operating expenses: General and administration 80,399 1,090,191 (1,009,792 ) Consulting 991,122 192,635 798,487 Wages 177,642 68,017 109,625 Marketing and promotions 17,097 5,000 12,097 Depreciation and amortization 44,974 470 44,504 Professional fess 121,519 91,855 29,664 Total operating expenses 1,432,753 1,448,168 (15,415 ) Income (Loss) from operations (1,412,812 ) (1,401,609 ) (11,203 ) Other income and (expenses): - Interest expense (14,950 ) (270,120 ) 255,170 Interest expense- derivative (21,876,947 ) (3,947,092 ) (17,929,855 ) Interest income 9,643 9,643 - Gain/(Loss) on derivative adjustment - 3,372,238 (3,372,238 ) Loss on debt settlement - - - Debt forgiveness 4,096 4,096 - Refund on expenses - - - Impairment expense - - - Total other income and (expenses) (21,878,158 ) (831,235 ) (21,046,923 ) Net loss before taxes $ (23,290,970 ) $ (2,232,844 ) $ (21,058,126 ) - Tax provisions - - - Net loss after taxes $ (23,290,970 ) $ (2,232,844 ) $ (21,058,126 ) Other Comprehensive Income: Unrealized loss/(gain) on available-for-sale securities 4,000 4,000 - Other Comprehensive Income (Loss) $ (23,294,970 ) $ (2,236,844 ) $ (21,058,126 ) Basic & diluted loss per share $ (3.28 ) (0.31 ) $ (3 ) Weighted average shares outstanding 7,102,414 7,102,414 - |
Consolidated Statements of Cash Flows | For the Year Ended December 31, 2013 Originally Reported Restated Difference CASH FLOWS FROM OPERATING ACTIVITIES: Net Loss for the period $ (23,290,970 ) $ (2,232,844 ) $ (21,058,126 ) Adjustments to reconcile net loss to net cash provided by operating activities: Impairment loss - - - License revenues- non cash - - - Available-for-sale securities revenues (3,050 ) (3,050 ) - Debt discount - 255,230 (255,230 ) Non-cash compensation - - - Forgiveness of debt - - - Financing fees - - - (Gain)/loss on change in derivative adjustment 21,876,947 574,854 21,302,093 Stock for services expense 998,568 998,568 - Stock options for services - - - Stock for note extension - - - Convertible note issued for consulting services - - - Bad debt - - - Loss on debt settlement - - - Strategic alliance costs - - - Effect from share exchange - - - Master purchase agreement (298,745 ) (298,745 ) - Depreciation and amortization 44,974 44,974 - Changes in Operated Assets and Liabilities: (Increase) decrease in prepaids - - - (Increase) decrease in accounts receivable - - - Increase in interest receivable (6,737 ) (6,737 ) - Increase (decrease) in loan receivable to related party 18,356 18,356 - Increase in deferred revenues 18,359 18,359 - Increase (decrease) in accounts payable and accrued expenses 65,480 54,217 11,263 Increase in accounts payable to related parties 42,358 42,358 - Increase (decrease) in accrued interest 9,847 9,847 - Net cash (used) in operating activities (524,613 ) (524,613 ) - CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sale of stock 168,875 168,875 - Stock subscription payable 7,000 7,000 - Proceeds from officer loan 18,165 18,165 - Payments on officer loan (102,270 ) (102,270 ) - Proceeds from convertible notes 286,865 286,865 - Payments on convertible notes - - - Proceeds from notes payable 10,161 10,161 - Payments on notes payable - - - Proceeds from notes payable to related party (770 ) (770 ) - Payments on notes payable to related party - - - Contributed Capital - - - Net Cash Provided by Financing Activities 388,026 388,026 - Net (Decrease) Increase in Cash (136,586 ) (136,586 ) - Cash at Beginning of Period 182,820 182,820 - Cash at End of Period $ 46,234 $ 46,234 $ - SUPPLEMENTAL DISCLOSURES: Income Taxes Paid - - - Interest Paid - - - NON-CASH INVESTING AND FINANCING ACTIVITIES: Stock issued for purchase of license - - - Stock issued for conversion of convertible notes payable 128,165 128,165 - Stock issued for debt settlement - - - Increase in prepaid stock compensation - - - |
Organization & Business Descr24
Organization & Business Description (Details) | Aug. 28, 2014 | Apr. 25, 2014USD ($)directorsshares | Apr. 09, 2012 | Dec. 31, 2013USD ($)$ / sharesshares | Dec. 31, 2010USD ($)shares | Dec. 31, 2014USD ($)$ / sharesshares | Aug. 31, 2014shares | Jul. 19, 2013shares | Mar. 04, 2013 |
Organization & Business Description (Textual) | |||||||||
Interest acquired | 10.00% | ||||||||
Purchase of common stock | $ | $ 175,875 | ||||||||
Purchase of common stock, Share | |||||||||
Equity interest percentage | 51.00% | ||||||||
Reverse stock split | The Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for two hundred (1:200) of the Company's total issued and outstanding shares of common stock. | The Company executed a 300 to 1 reverse stock split, which was retrospectively applied to our financial statements. | |||||||
Preferred Stock, Shares Authorized | 80,000,000 | 80,000,000 | 20,000,000 | ||||||
Common Stock, Shares Authorized | 5,000,000,000 | 5,000,000,000 | 730,000,000 | ||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | |||||||
Maximum [Member] | |||||||||
Organization & Business Description (Textual) | |||||||||
Common Stock, Shares Authorized | 5,000,000,000 | 750,000,000 | |||||||
Minimum [Member] | |||||||||
Organization & Business Description (Textual) | |||||||||
Common Stock, Shares Authorized | 730,000,000 | 75,000,000 | |||||||
Board of Directors [Member] | |||||||||
Organization & Business Description (Textual) | |||||||||
Reverse stock split | 200 to 1 | ||||||||
Candor Homes Corporation [Member] | |||||||||
Organization & Business Description (Textual) | |||||||||
Purchase of common stock | $ | $ 10,000 | ||||||||
Purchase of common stock, Share | 53,000 | ||||||||
Equity interest percentage | 53.00% | ||||||||
Accounts payable to related party | $ | $ 10,000 | ||||||||
Number of directors | directors | 2 |
Going Concern (Details)
Going Concern (Details) | Dec. 31, 2014USD ($) |
Going Concern (Textual) | |
Accumulated deficit during development stage | $ 9,324,599 |
Significant Accounting Polici26
Significant Accounting Policies (Details) - USD ($) | Aug. 28, 2014 | Apr. 09, 2012 | Dec. 31, 2014 | Dec. 31, 2013 |
Significant accounting policies (Textual) | ||||
Equity interest percentage | 51.00% | |||
Descripition of reverse stock split | The Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for two hundred (1:200) of the Company's total issued and outstanding shares of common stock. | The Company executed a 300 to 1 reverse stock split, which was retrospectively applied to our financial statements. | ||
Accounts receivable | $ 1,250 | $ 5,423 | ||
Allowance for doubtful accounts | $ 1,250 | $ 1,250 | ||
Estimated useful life of equipment | 3 years | |||
Intangible assets useful life | 10 years | |||
Intangible assets useful life description | The Company amortizes its license of SSL5 intellectual property using the straight-line method over an estimated useful life of 10 years. |
Available For Sale Securities (
Available For Sale Securities (Details) - USD ($) | Nov. 01, 2013 | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2010 | Sep. 30, 2014 | Dec. 31, 2013 |
Available For Sale Securities (Textual) | ||||||
Shares issued upon execution of the JVA | ||||||
Available-for-sale securities | $ 1,619 | $ 6,000 | ||||
Net proceeds from sale of stock | $ 12,000 | $ 7,000 | ||||
Corporate Joint Venture [Member] | ||||||
Available For Sale Securities (Textual) | ||||||
Joint venture agreement terms | The Company's revenue sharing will be 35% of gross payments from app sales from Google Play and 50% of gross payments from app sales through Amazon, Nook, iTunes, and others. | |||||
Shares issued upon execution of the JVA | 10,000,000 | |||||
Shares issued on quarterly installments | 4,000,000 | |||||
Shares issued upon closing of joint venture agreement | 10,000,000 | |||||
Available-for-sale securities | $ 10,000 | |||||
Number of shares hold by the company | 6,593,500 | |||||
Mind Solutions, Inc [Member] | ||||||
Available For Sale Securities (Textual) | ||||||
Common stock received under consulting agreement | 50,000,000 | |||||
Number of shares sold | 47,855,085 | |||||
Net proceeds from sale of stock | $ 34,895 | |||||
Number of shares hold by the company | 2,144,915 |
Fixed assets (Details)
Fixed assets (Details) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Fixed Assets [Abstract] | ||
Property and equipment, net | $ 2,364 | $ 2,364 |
Less : accumulated depreciation | $ 2,364 | 1,904 |
Property and equipment, net | $ 460 |
Fixed assets (Details Textual)
Fixed assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Fixed assets (Textual) | ||
Depreciation expense | $ 460 | $ 460 |
Asset Purchase Agreement With30
Asset Purchase Agreement With Iconosys (TAVG) (Details) - USD ($) | Aug. 08, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 |
Asset Purchase Agreement With Iconosys (TAVG) (Textual) | ||||
Common shares issued for purchase of asset, value | $ 1,053 | $ 450,000 | ||
Note payable balance | $ 2,244 | |||
Services income relating to TAVG assets | 96,523 | 14,097 | ||
Deferred revenue relating to TAVG membership sales | 34,709 | 18,359 | ||
Iconosys [Member] | ||||
Asset Purchase Agreement With Iconosys (TAVG) (Textual) | ||||
Interest rate of promissory note | 4.00% | |||
Note maturity date | Aug. 7, 2014 | |||
TAVG [Member] | ||||
Asset Purchase Agreement With Iconosys (TAVG) (Textual) | ||||
Services income relating to TAVG assets | 41,845 | 14,097 | ||
Deferred revenue relating to TAVG membership sales | 34,709 | $ 18,359 | ||
Asset Purchase Agreement [Member] | Iconosys [Member] | ||||
Asset Purchase Agreement With Iconosys (TAVG) (Textual) | ||||
Purchase price of asset | $ 250,000 | |||
Purchase price paid in cash under asset purchase agreement | 50,000 | |||
Cash payment under asset purchase agreement | 5,000 | |||
Promissory note issued for purchase of asset | $ 45,000 | |||
Interest rate of promissory note | 4.00% | |||
Note issuance date | Aug. 8, 2013 | |||
Note maturity date | Aug. 7, 2014 | |||
Common shares issued for purchase of asset, shares | 1,052,632 | |||
Common shares issued for purchase of asset, value | $ 200,000 | |||
Fair market price | $ 0.19 | |||
Note payable balance | $ 0 |
Convertible Notes Payable (Deta
Convertible Notes Payable (Details) | Oct. 24, 2013USD ($) |
Schedule of total amount of claim | |
Claim amount | $ 63,063 |
10% settlement fee | 6,306 |
Attorney fees | 5,770 |
Total | $ 75,139 |
Convertible Notes Payable (De32
Convertible Notes Payable (Details 1) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule of total outstanding principle on convertible notes payable | ||
Less: Debt discount | $ 339,934 | $ 113,361 |
Total Convertible Notes Payable, net of discounts | 556,116 | 148,584 |
Convertible Notes Payable- Asher Enterprises, Inc [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | $ 300 | $ 228,510 |
Convertible Note Payable - Tangier Investors LLP [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | ||
Convertible Note Payable- Premier Venture Partners LLC [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | $ 17,370 | |
Convertible Note Payable- Dennis Pieczarka [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | $ 2,500 | 2,500 |
Convertible Note payable - Christopher Thompson [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 90,000 | 10,000 |
Convertible Note payable - James Ault [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 2,565 | 2,565 |
Convertible Note payable - Charles Knoop [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 1,000 | $ 1,000 |
Convertible Note payable - LG Capital Funding [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 58,555 | |
Convertible Note payable - JMJ Financial [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 98,020 | |
Convertible Note payable - IBC Funds, LLC [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 71,071 | |
Convertible Note payable - WHC Capital, LLC [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 21,077 | |
Convertible Note payable - ADAR BAYS, LLC [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 30,000 | |
Convertible Note payable - Brent Delinger [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 15,000 | |
Convertible Note payable - Jessie Redmayne [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 5,000 | |
Convertible Note payable - Jennifer Salwender [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 40,000 | |
Convertible Note payable - Anibus Capital Partners [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 147,900 | |
Convertible Note payable - Beaufort Capital Partners, LLC [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 137,812 | |
Convertible Note payable - KBM Worldwide [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 63,000 | |
Convertible Note payable - Sojourn Investments, LP [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | 45,000 | |
Convertible Note payable - Ambrosial Consulting Group [Member] | ||
Schedule of total outstanding principle on convertible notes payable | ||
Total Convertible Notes Payable, net of discounts | $ 67,250 |
Convertible Notes Payable (De33
Convertible Notes Payable (Details 2) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of the range of variables used in revaluing the derivative liability | ||
Annual dividend yield | 0.00% | 0.00% |
Risk-free interest rate | 10.00% | 10.00% |
Expected volatility | 563.90% | 373.50% |
Minimum [Member] | ||
Schedule of the range of variables used in revaluing the derivative liability | ||
Expected life (years) of | 4 days | 4 days |
Maximum [Member] | ||
Schedule of the range of variables used in revaluing the derivative liability | ||
Expected life (years) of | 11 months 12 days | 10 months 24 days |
Convertible Notes Payable (De34
Convertible Notes Payable (Details Textual) - USD ($) | Sep. 29, 2014 | Aug. 01, 2014 | Jul. 01, 2014 | Jun. 16, 2014 | May. 27, 2014 | May. 01, 2014 | Mar. 07, 2014 | Feb. 14, 2014 | Dec. 23, 2013 | Oct. 24, 2013 | Sep. 12, 2013 | Jul. 10, 2013 | Jul. 09, 2013 | Jul. 01, 2013 | Jun. 14, 2013 | May. 22, 2013 | May. 13, 2013 | Apr. 11, 2013 | Apr. 01, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Common stock shares issued | 2,182,007,174 | 29,201,615 | |||||||||||||||||||
Common stock, value | $ 2,182,007 | $ 29,202 | |||||||||||||||||||
Asher Enterprises Inc [Member] | Convertible Note Agreement [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 42,500 | ||||||||||||||||||||
Convertible note payable interest rate | 8.00% | ||||||||||||||||||||
Convertible note payable due date | Jan. 14, 2014 | ||||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | ||||||||||||||||||||
Debt Conversion, Description | The note is convertible into common shares of the Company at a conversion rate of 55% of the market price, calculated as the average of the three lowest trading prices in the previous 10 days leading up to the date of conversion. | ||||||||||||||||||||
Conversion of debt into common stock | $ 42,500 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 5,606,783 | ||||||||||||||||||||
Asher Enterprises Inc [Member] | Convertible Note Agreement One [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 63,000 | ||||||||||||||||||||
Convertible note payable interest rate | 8.00% | ||||||||||||||||||||
Convertible note payable due date | Feb. 17, 2014 | ||||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | ||||||||||||||||||||
Debt Conversion, Description | The note is convertible into common shares of the Company at a conversion rate of 55% of the market price, calculated as the average of the three lowest trading prices in the previous 10 days leading up to the date of conversion. | ||||||||||||||||||||
Conversion of debt into common stock | $ 63,000 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 38,283,516 | ||||||||||||||||||||
Asher Enterprises Inc [Member] | Convertible Note Agreement Two [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 37,500 | ||||||||||||||||||||
Convertible note payable interest rate | 8.00% | ||||||||||||||||||||
Convertible note payable due date | Mar. 18, 2014 | ||||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | ||||||||||||||||||||
Debt Conversion, Description | The note is convertible into common shares of the Company at a conversion rate of 55% of the market price, calculated as the average of the three lowest trading prices in the previous 10 days leading up to the date of conversion. | ||||||||||||||||||||
Conversion of debt into common stock | $ 37,500 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 25,333,333 | ||||||||||||||||||||
Asher Enterprises Inc [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 37,500 | ||||||||||||||||||||
Convertible note payable interest rate | 8.00% | ||||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | ||||||||||||||||||||
Debt Conversion, Description | The Note is convertible into the Company's common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note's issuance. | ||||||||||||||||||||
Conversion of debt into common stock | $ 37,500 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 34,210,025 | ||||||||||||||||||||
Asher Enterprises Inc [Member] | Securities Purchase Agreement One [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 32,500 | ||||||||||||||||||||
Convertible note payable interest rate | 8.00% | ||||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | ||||||||||||||||||||
Debt Conversion, Description | The Note is convertible into the Company's common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note's issuance. | ||||||||||||||||||||
Conversion of debt into common stock | $ 32,500 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 43,779,046 | ||||||||||||||||||||
Asher Enterprises Inc [Member] | Securities Purchase Agreement Two [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 60,000 | ||||||||||||||||||||
Convertible note payable interest rate | 8.00% | ||||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | ||||||||||||||||||||
Debt Conversion, Description | The Note is convertible into the Company's common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note's issuance. | ||||||||||||||||||||
Conversion of debt into common stock | $ 60,000 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 110,567,623 | ||||||||||||||||||||
Asher Enterprises Inc [Member] | Securities Purchase Agreement Three [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 22,500 | ||||||||||||||||||||
Convertible note payable interest rate | 8.00% | ||||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | ||||||||||||||||||||
Debt Conversion, Description | The Note is convertible into the Company's common stock at a conversion price equal to fifty-five percent (55%) of the then-prevailing market price, beginning one hundred eighty (180) days from the date of the Note's issuance. | ||||||||||||||||||||
Conversion of debt into common stock | $ 22,200 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 192,975,045 | ||||||||||||||||||||
Premier Venture Partners Llc [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Debt Conversion, Description | Management calculates the conversion price to be $0.00114 using fifty percent of the arithmetic average of the individual daily VWAPs for any five trading days within the calculation period. | ||||||||||||||||||||
Legal settlements amount | $ 63,063 | ||||||||||||||||||||
Settlement order description | Premier's entitled to receive the number of common shares equal to a number, "with an aggregate value equity to (i) the sum of the claim amount plus a 10% settlement fee and plaintiff's reasonable attorney fees and expense, (ii) divided by the lower of the following: (1) fifty percent of the closing bid price for the trading day immediately preceding the order date or (2) fifty percent of the arithmetic average of the individual daily VWAPs for any five trading days within the calculation period". | ||||||||||||||||||||
Settlement fee percentage | 10.00% | ||||||||||||||||||||
Conversion price | $ 0.00114 | ||||||||||||||||||||
Common stock shares issued | 58,637,933 | ||||||||||||||||||||
Common stock, value | $ 0 | ||||||||||||||||||||
Stock issued for debt settlement | 65,911,456 | 48,637,933 | |||||||||||||||||||
Christopher Thompson [Member] | Convertible Note Agreement [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 15,000 | ||||||||||||||||||||
Convertible note payable interest rate | 9.90% | ||||||||||||||||||||
Convertible note payable due date | Jul. 1, 2015 | ||||||||||||||||||||
Convertible notes payable, conversion rate | 60.00% | ||||||||||||||||||||
Debt Conversion, Description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. | ||||||||||||||||||||
Christopher Thompson [Member] | Convertible Note Agreement One [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 30,000 | $ 15,000 | |||||||||||||||||||
Convertible note payable interest rate | 9.90% | 9.90% | |||||||||||||||||||
Convertible note payable due date | Feb. 1, 2015 | May 1, 2015 | |||||||||||||||||||
Convertible notes payable, conversion rate | 60.00% | 60.00% | |||||||||||||||||||
Debt Conversion, Description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. | The convertible note's principle and accrued interest may at any time be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. | |||||||||||||||||||
Christopher Thompson [Member] | Convertible Note Agreement Two [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 30,000 | ||||||||||||||||||||
Convertible note payable interest rate | 9.90% | ||||||||||||||||||||
Convertible note payable due date | Mar. 29, 2015 | ||||||||||||||||||||
Convertible notes payable, conversion rate | 60.00% | ||||||||||||||||||||
Debt Conversion, Description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. | ||||||||||||||||||||
Christopher Thompson [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 10,000 | $ 10,000 | |||||||||||||||||||
Convertible note payable interest rate | 9.00% | ||||||||||||||||||||
Convertible note payable due date | Apr. 1, 2014 | ||||||||||||||||||||
Accrued interest | 1,025 | ||||||||||||||||||||
Conversion price | $ 0.10 | ||||||||||||||||||||
Debt instrument carrying amount | $ 0 | ||||||||||||||||||||
James Ault [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 2,565 | ||||||||||||||||||||
Convertible note payable interest rate | 9.00% | ||||||||||||||||||||
Convertible note payable due date | Jul. 1, 2014 | ||||||||||||||||||||
Conversion price | $ 0.095 | ||||||||||||||||||||
Charles Knoop [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 1,000 | ||||||||||||||||||||
Convertible note payable interest rate | 9.00% | ||||||||||||||||||||
Convertible note payable due date | Jul. 9, 2014 | ||||||||||||||||||||
Conversion price | $ 0.095 | ||||||||||||||||||||
Convertible Debt [Member] | Asher Enterprises Inc [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Conversion of debt into common stock | $ 250,710 | $ 44,490 | |||||||||||||||||||
Conversion of debt into common stock, Shares | 477,381,748 | 7,265,116 | |||||||||||||||||||
Accrued interest | $ 5,900 | ||||||||||||||||||||
Convertible Debt [Member] | Dennis Pieczarka [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 2,500 | ||||||||||||||||||||
Convertible note payable interest rate | 9.00% | ||||||||||||||||||||
Convertible note payable due date | May 22, 2014 | ||||||||||||||||||||
Conversion price | $ 0.15 | ||||||||||||||||||||
Convertible Debt [Member] | Lg Capital Funding [Member] | |||||||||||||||||||||
Convertible Notes Payable (Textual) | |||||||||||||||||||||
Convertible note | $ 42,000 | $ 32,000 | |||||||||||||||||||
Convertible note payable interest rate | 8.00% | 8.00% | |||||||||||||||||||
Convertible note payable due date | Jun. 16, 2015 | Mar. 7, 2015 | |||||||||||||||||||
Convertible notes payable, conversion rate | 55.00% | 60.00% | |||||||||||||||||||
Debt Conversion, Description | The convertible note's principle and accrued interest be converted into shares of the Company's stock at a conversion rate equal to 55% of the lowest closing bid price in the fifteen days prior to conversion. | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the fifteen days prior to conversion. | |||||||||||||||||||
Conversion of debt into common stock | $ 15,445 | ||||||||||||||||||||
Conversion of debt into common stock, Shares | 200,667,134 | ||||||||||||||||||||
Debt instrument carrying amount | $ 16,555 |
Convertible Notes Payable (De35
Convertible Notes Payable (Details Textual 1) - USD ($) | Nov. 15, 2014 | Oct. 15, 2014 | Oct. 01, 2014 | Jul. 14, 2014 | Jul. 11, 2014 | Jun. 27, 2014 | Jun. 14, 2014 | Jun. 13, 2014 | May. 27, 2014 | May. 15, 2014 | May. 02, 2014 | Apr. 30, 2014 | Apr. 25, 2014 | Apr. 24, 2014 | Apr. 16, 2014 | Apr. 04, 2014 | Apr. 01, 2014 | Mar. 15, 2014 | Apr. 01, 2013 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Proceeds from convertible notes | $ 1,010,023 | $ 286,865 | ||||||||||||||||||||||
Accrued interest balance outstanding liabilities | 67,907 | 11,659 | ||||||||||||||||||||||
Debt Instrument, Unamortized Discount | 339,934 | 113,361 | ||||||||||||||||||||||
Derivative liability | 1,564,098 | 994,778 | ||||||||||||||||||||||
Debt discount | 906,525 | $ 255,230 | ||||||||||||||||||||||
IBC Funds, LLC [Member] | Settlement Agreement And Stipulation [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Conversion of debt into common stock | $ 208,321 | $ 137,000 | ||||||||||||||||||||||
Shares issued for conversion of debt | 590,000,000 | |||||||||||||||||||||||
Debt instrument carrying amount | $ 71,071 | |||||||||||||||||||||||
Settlement order description | In satisfaction of the debt, we agreed to issue shares of our common stock in one or more tranches to IBC Funds in the manner contemplated in the Settlement Agreement and Stipulation at a conversion price of 50% discount to market as calculated as the lowest closing trading price in the 15 (15) days prior to a conversion notice. | |||||||||||||||||||||||
WHC Capital, LLC [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 10,000 | $ 10,000 | ||||||||||||||||||||||
Convertible note payable due date | Apr. 1, 2014 | |||||||||||||||||||||||
Convertible note payable interest rate | 9.00% | |||||||||||||||||||||||
Shares issued for conversion of debt | 22,325,475 | |||||||||||||||||||||||
Debt instrument carrying amount | $ 0 | |||||||||||||||||||||||
Accrued interest | $ 1,025 | 1,051 | ||||||||||||||||||||||
Principle amount | 10,000 | |||||||||||||||||||||||
WHC Capital, LLC [Member] | Securities Exchange And Settlement Agreement [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 5,161 | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 55% of the lowest closing bid price in the fifteen days prior to conversion. | |||||||||||||||||||||||
Anubis Capital Partners [Member] | Purchase And Assumption Agreement [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 63,950 | 63,950 | ||||||||||||||||||||||
Beaufort Capital Partners, LLC [Member] | Purchase And Assumption Agreement [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 127,900 | |||||||||||||||||||||||
Convertible note payable due date | Apr. 1, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 10.00% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty days prior to conversion. | |||||||||||||||||||||||
Sojourn Investments, LP [Member] | Debt Purchase Agreement [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 37,500 | |||||||||||||||||||||||
Convertible note payable due date | Jun. 14, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 12.00% | |||||||||||||||||||||||
Conversion note description | The convertible note has interest of 12% per annum and is convertible into common shares of the Company at a conversion rate of 50% off the lowest trading market price for 20 days prior to conversion. | |||||||||||||||||||||||
Original issue discount | $ 12,500 | |||||||||||||||||||||||
Convertible Debt [Member] | JMJ Financial [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 500,000 | |||||||||||||||||||||||
Convertible note payable interest rate | 12.00% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the twenty-five days prior to conversion. | |||||||||||||||||||||||
Proceeds from convertible notes | $ 30,000 | $ 30,000 | $ 30,000 | 90,000 | ||||||||||||||||||||
Original issue discount | $ 7,333 | $ 7,333 | $ 7,333 | 22,000 | ||||||||||||||||||||
Conversion of debt into common stock | $ 13,980 | |||||||||||||||||||||||
Shares issued for conversion of debt | 233,000,000 | |||||||||||||||||||||||
Debt instrument carrying amount | $ 98,020 | |||||||||||||||||||||||
Convertible Debt [Member] | WHC Capital, LLC [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 22,000 | |||||||||||||||||||||||
Convertible note payable due date | Apr. 30, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 12.00% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 55% of the lowest closing bid price in the fifteen days prior to conversion. | |||||||||||||||||||||||
Conversion of debt into common stock | $ 6,033 | |||||||||||||||||||||||
Shares issued for conversion of debt | 18,282,697 | |||||||||||||||||||||||
Debt instrument carrying amount | $ 15,967 | |||||||||||||||||||||||
Convertible Debt [Member] | Jennifer Salwender [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 20,000 | $ 22,000 | ||||||||||||||||||||||
Convertible note payable due date | Jun. 14, 2015 | May 5, 2015 | ||||||||||||||||||||||
Convertible note payable interest rate | 9.90% | 9.90% | ||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into common shares of the Company's after 180 days from the issuance date at a discount of 40% off the lowest closing traded price during the prior 10 trading days to a notice of conversion. | The convertible note's principle and accrued interest may be converted into common shares of the Company's after 180 days from the issuance date at a discount of 40% off the lowest closing traded price during the prior 10 trading days to a notice of conversion. | ||||||||||||||||||||||
Convertible Debt [Member] | ADAR BAYS, LLC [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 30,000 | |||||||||||||||||||||||
Convertible note payable due date | May 2, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 8.00% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 50% of the lowest closing bid price in the fifteen days prior to conversion. | |||||||||||||||||||||||
Convertible Debt [Member] | Brent Denlinger [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 15,000 | |||||||||||||||||||||||
Convertible note payable due date | Apr. 16, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 9.90% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. | |||||||||||||||||||||||
Convertible Debt [Member] | KBM Worldwide, Inc [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 63,000 | |||||||||||||||||||||||
Convertible note payable due date | Mar. 17, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 8.00% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 55% of the lowest closing bid price in the ten days prior to conversion. | |||||||||||||||||||||||
Convertible Debt [Member] | Jessie Redmayne [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 5,000 | |||||||||||||||||||||||
Convertible note payable due date | Apr. 4, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 9.90% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 60% of the lowest closing bid price in the ten days prior to conversion. | |||||||||||||||||||||||
Convertible Debt [Member] | Anubis Capital Partners [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 83,950 | $ 127,900 | ||||||||||||||||||||||
Convertible note payable due date | Oct. 1, 2015 | Apr. 1, 2015 | ||||||||||||||||||||||
Convertible note payable interest rate | 8.00% | 10.00% | ||||||||||||||||||||||
Conversion note description | The convertible promissory note was executed in return for three (3) months of consulting services provided to the Company. The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty days prior to conversion. | The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty days prior to conversion. | ||||||||||||||||||||||
Debt instrument carrying amount | $ 83,950 | |||||||||||||||||||||||
Convertible Debt [Member] | Beaufort Capital Partners, LLC [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 75,000 | |||||||||||||||||||||||
Convertible note payable due date | Dec. 27, 2014 | |||||||||||||||||||||||
Convertible note payable interest rate | 12.00% | |||||||||||||||||||||||
Conversion note description | The convertible note's principle and accrued interest may be converted into common shares of the Company's after the maturity date at a discount of 50% off the lowest traded price during the prior 20 trading days to a notice of conversion. | |||||||||||||||||||||||
Original issue discount | $ 25,000 | |||||||||||||||||||||||
Conversion of debt into common stock | $ 1,137 | |||||||||||||||||||||||
Shares issued for conversion of debt | 113,700,000 | |||||||||||||||||||||||
Debt instrument carrying amount | $ 73,863 | |||||||||||||||||||||||
Convertible Debt [Member] | Sojourn Investments, LP [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 7,500 | |||||||||||||||||||||||
Convertible note payable due date | Nov. 15, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 12.00% | |||||||||||||||||||||||
Conversion note description | The convertible note has interest of 12% per annum and is convertible into common shares of the Company at a conversion rate of 50% off the lowest trading market price for 20 days prior to conversion. | |||||||||||||||||||||||
Original issue discount | $ 1,500 | |||||||||||||||||||||||
Convertible Debt [Member] | Ambrosial Consulting Group [Member] | ||||||||||||||||||||||||
Convertible Notes Payable (Textual) | ||||||||||||||||||||||||
Convertible note | $ 67,250 | |||||||||||||||||||||||
Convertible note payable due date | Oct. 15, 2015 | |||||||||||||||||||||||
Convertible note payable interest rate | 8.00% | |||||||||||||||||||||||
Conversion note description | The convertible promissory note was executed in return for six (6) months of consulting services to be provided to the Company. The convertible note's principle and accrued interest may be converted into shares of the Company's stock at a conversion rate equal to 50% of the lowest closing bid price in the twenty (20) days prior to conversion. | |||||||||||||||||||||||
Debt instrument carrying amount | $ 67,250 |
Stockholders' Deficit (Details)
Stockholders' Deficit (Details) | Aug. 28, 2014 | Jun. 15, 2014USD ($) | Apr. 09, 2012 | Sep. 30, 2013USD ($) | Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2013USD ($)$ / sharesshares | Dec. 31, 2012USD ($)shares | Dec. 31, 2011shares | Dec. 31, 2010shares | Sep. 30, 2014USD ($) | Aug. 31, 2014shares | Jul. 19, 2013shares |
Reverse stock split ratio | The Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for two hundred (1:200) of the Company's total issued and outstanding shares of common stock. | The Company executed a 300 to 1 reverse stock split, which was retrospectively applied to our financial statements. | ||||||||||
Common stock, authorized | 5,000,000,000 | 5,000,000,000 | 730,000,000 | |||||||||
Preferred Stock, shares authorized | 80,000,000 | 80,000,000 | 20,000,000 | |||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | ||||||||||
Stock issued for services, Shares | ||||||||||||
Compensation expense | $ | $ 8,400 | |||||||||||
Common shares | 2,152,805,559 | |||||||||||
Stock issued for convertible debt | 202,792 | |||||||||||
Accrued interest | $ | $ 155,706 | $ 46,800 | ||||||||||
Consulting expense | $ | 814,275 | |||||||||||
Stock for services | $ | $ 244,847 | $ 998,568 | ||||||||||
Convertible Notes Payable- Asher Enterprises, Inc [Member] | ||||||||||||
Common shares | 477,381,748 | |||||||||||
Accrued interest | $ | $ 5,900 | |||||||||||
Conversion of principle amount | $ | $ 250,710 | |||||||||||
Convertible Note Payable- Premier Venture Partners LLC [Member] | ||||||||||||
Shares issued for conversion of debt | 58,637,933 | |||||||||||
Convertible Note payable - IBC Funds, LLC [Member] | ||||||||||||
Debt conversion converted instrument amount | $ | $ 81,000 | |||||||||||
Shares issued for conversion of debt | 590,000,000 | |||||||||||
Convertible Note payable - WHC Capital, LLC [Member] | ||||||||||||
Debt conversion converted instrument amount | $ | $ 17,084 | |||||||||||
Shares issued for conversion of debt | 40,608,172 | |||||||||||
Convertible Note payable - JMJ Financial [Member] | ||||||||||||
Debt conversion converted instrument amount | $ | $ 13,980 | |||||||||||
Shares issued for conversion of debt | 233,000,000 | |||||||||||
Beaufort Capital | ||||||||||||
Debt conversion converted instrument amount | $ | $ 1,137 | |||||||||||
Shares issued for conversion of debt | 113,700,000 | |||||||||||
Convertible Note payable - LG Capital Funding [Member] | ||||||||||||
Debt conversion converted instrument amount | $ | $ 15,445 | |||||||||||
Shares issued for conversion of debt | 200,667,134 | |||||||||||
Ad Shark Inc [Member] | ||||||||||||
Shares issued for conversion of debt | 24,998,879 | |||||||||||
Shares ratio | 4.38 | |||||||||||
Common Stock [Member] | ||||||||||||
Stock issued for services, Shares | 413,811,693 | 7,355,667 | 430,000 | 2,000 | 3,662 | |||||||
Common shares | 26,136,087 | |||||||||||
Stock issued during period shares Issued for Cash One | 861,751 | |||||||||||
Stock issued during period value issued for cash | $ | $ 454,300 | $ 278,425 | ||||||||||
Stock issued for convertible debt | 1,713,994,987 | 14,775,358 | 16,296 | |||||||||
Reduction of convertible debt | $ | $ 128,083 | |||||||||||
Debt conversion converted instrument amount | $ | $ 25,000 | |||||||||||
Accrued interest | $ | $ 82 | |||||||||||
Shares issued for conversion of debt | 3,143,311 | |||||||||||
Conversion of common stock | 13,767,684 | |||||||||||
Prepaid expense | $ | $ 139,996 | |||||||||||
Shares returned and cancelled | 323,833 | |||||||||||
Wayne Irving [Member] | ||||||||||||
Stock issued for services, Shares | 63,811,693 | |||||||||||
Common shares | 413,811,693 | |||||||||||
Shares issued for conversion of debt | 350,000,000 | |||||||||||
Accrued payroll liability | $ | $ 87,500 | |||||||||||
Series A Preferred Stock [Member] | ||||||||||||
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 | ||||||||||
Preferred stock voting rights | Each share of Series A Preferred Stock can vote equal to 100 shares of common stock and can be converted to common stock at a rate of 1 to 1. | |||||||||||
Series A Preferred Stock [Member] | Wayne Irving [Member] | ||||||||||||
Common stock, par value | $ / shares | $ 0.001 | |||||||||||
Stock issued for services, Shares | 20,000,000 | |||||||||||
Compensation expense | $ | $ 20,000 | |||||||||||
Maximum [Member] | ||||||||||||
Common stock, authorized | 5,000,000,000 | 750,000,000 | ||||||||||
Minimum [Member] | ||||||||||||
Common stock, authorized | 730,000,000 | 75,000,000 |
Contingency Agreements (Details
Contingency Agreements (Details) - USD ($) | Nov. 01, 2013 | Mar. 04, 2013 | Aug. 01, 2011 | Dec. 31, 2014 | Dec. 31, 2013 |
Contingency agreements (Textual) | |||||
Common stock, par value | $ 0.001 | $ 0.001 | |||
Increase in interest receivable | $ 11,138 | $ 6,737 | |||
Commission revenues from related party | 5,387 | 250 | |||
Unrealized loss/(gain) on available-for-sale securities | (2,034) | 4,000 | |||
Available-for-sale securities | 1,619 | 6,000 | |||
Accrued wages | $ 155,706 | $ 46,800 | |||
Intelligent Living Inc [Member] | |||||
Contingency agreements (Textual) | |||||
Gross payments from app sales | The Company's revenue sharing will be 35% of gross payments from app sales from Google Play and 50% of gross payments from app sales through Amazon, Nook, iTunes, and others. The Company will be paid in the form of stock by ILIV which is a publically traded company trading on the OTCQB under the symbol "ILIV". | ||||
Common shares | 36,600,000 | ||||
Installments term | 2 years | ||||
Closing price per share | $ 0.0006 | ||||
Iconosys [Member] | |||||
Contingency agreements (Textual) | |||||
Common stock, par value | $ 0.001 | ||||
Corporate Joint Venture [Member] | |||||
Contingency agreements (Textual) | |||||
Sale of stock, consideration | $ 0.001 | ||||
Shares issued upon closing of joint venture agreement | 10,000,000 | ||||
Available-for-sale securities | $ 10,000 | ||||
Chief Executive Officer [Member] | |||||
Contingency agreements (Textual) | |||||
Common shares | 350,000,000 | ||||
Salary compensation | $ 88,500 | ||||
Term of employment | 3 years | ||||
Accrued payroll liability | $ 87,500 | ||||
Master purchase [Member] | Iconosys [Member] | |||||
Contingency agreements (Textual) | |||||
Common stock received under agreement | 15,046,078 | ||||
Common stock, par value | $ 0.001 | ||||
Sale of stock, consideration | $ 295,862 | ||||
Increase in interest receivable | $ 2,884 | ||||
Shares of Iconosys issued and outstanding | 150,460,781 | ||||
Sale of stock, description of transaction | The Iconosys stock received accounts for approximately 10 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Apr. 25, 2014 | Aug. 08, 2013 | Mar. 04, 2013 | Jun. 01, 2012 | Aug. 01, 2011 | Aug. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2010 | Jul. 30, 2014 | Jul. 15, 2014 |
Related Party Transaction [Line Items] | |||||||||||
Series A preferred shares issued | 0 | 0 | |||||||||
Series A preferred shares outstanding | 0 | 0 | |||||||||
Purchase of common stock, Share | |||||||||||
Purchase of common stock | $ 175,875 | ||||||||||
Notes payable to related party | $ 15,494 | 57,480 | |||||||||
Line of credit agreement with Iconosys | 300,000 | ||||||||||
Loan receivable balance | 284,943 | 290,532 | |||||||||
Accrued interest receivable | 26,715 | 15,577 | |||||||||
Salary | 155,837 | 177,642 | |||||||||
Loan from officer | $ 2,500 | $ 17,021 | |||||||||
Common stock, par value | $ 0.001 | $ 0.001 | |||||||||
Common stock, shares issued | 2,182,007,174 | 29,201,615 | |||||||||
Common stock, shares outstanding | 2,182,007,174 | 29,201,615 | |||||||||
Obligation to pay merger cost | $ 75,000 | ||||||||||
Merger, description | As a condition of the Merger between Monster Offers and Ad Shark, Monster Offers agreed to keep in full and effect and to honor the Engagement Agreement dated March 19, 2011 between the Law Office of Brandon S. Chabner, a Professional Corporation, and Ad Shark. Brandon S. Chabner, Esq., is a director and corporate officer of Iconosys and 5%-plus shareholder of Monster Offers. | ||||||||||
Repayment of borrowings | $ 271,000 | ||||||||||
Common stock issued for consulting services, shares | |||||||||||
Series A Preferred Stock [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Series A preferred shares issued | 0 | 0 | |||||||||
Series A preferred shares outstanding | 0 | 0 | |||||||||
Candor Homes Corporation [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Purchase of common stock, Share | 53,000 | ||||||||||
Purchase of common stock | $ 10,000 | ||||||||||
Equity interest | $ 53 | ||||||||||
Accounts payable to related party | $ 10,000 | ||||||||||
Wayne Irving [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Accrued payroll liability | $ 25,000 | ||||||||||
Accrued liabilities payable | $ 62,500 | ||||||||||
Salary | $ 88,500 | ||||||||||
Salary increment percentage | 5.00% | ||||||||||
Accrued wages | $ 46,800 | $ 155,706 | |||||||||
Common stock, shares issued | 100,000,000 | ||||||||||
Term of employment | 3 years | ||||||||||
Wayne Irving [Member] | Restricted Stock [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Common stock, shares issued | 250,000,000 | ||||||||||
Wayne Irving [Member] | Series A Preferred Stock [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Series A preferred shares issued | 20,000,000 | ||||||||||
Series A preferred shares outstanding | 20,000,000 | ||||||||||
Tisha Lawton [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Salary | $ 10,000 | ||||||||||
Salary description | As additional compensation, Mrs Lawton will be paid 5,000,000 shares of restricted common stock per calendar quarter or the equivalent of $12,000, whichever is less. | ||||||||||
Common stock, shares issued | 5,000,000 | ||||||||||
Tisha Lawton [Member] | Restricted Stock [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Common stock, shares issued | 5,000,000 | ||||||||||
Iconosys [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Commission revenues related party | $ 1,750 | 5,387 | |||||||||
Notes payable to related party | $ 13,250 | $ 13,250 | |||||||||
Notes payable interest term | The note payable has terms of 0% interest and is payable on demand. | ||||||||||
Promissory note | $ 45,000 | ||||||||||
Promissory note due date | Aug. 7, 2014 | ||||||||||
Interest rate of promissory note | 4.00% | ||||||||||
Promissory note balance | $ 2,244 | ||||||||||
Accrued interest receivable | $ 2,884 | ||||||||||
Advances to Affiliate | $ 295,862 | ||||||||||
Common stock received | 15,046,078 | ||||||||||
Common stock, par value | $ 0.001 | ||||||||||
Common stock, shares issued | 150,460,781 | ||||||||||
Common stock, shares outstanding | 150,460,781 | ||||||||||
Stock received | 10.00% | ||||||||||
Ad Shark Inc [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Notes payable interest term | The line of credit agreement has terms of 4%, payable on demand. | ||||||||||
Line of credit agreement with Iconosys | $ 300,000 | ||||||||||
Merger, description | As part of these Consulting Agreements, each of Messrs. Gain and West entered into a Confidentially Agreement pursuant to which (i) they each agreed to keep Ad Shark proprietary information confidential, and (ii) for a period of twelve (12) months immediately following the termination of their applicable Consulting Agreement, they each agreed not to solicit Ad Shark employees or independent contractors. | ||||||||||
Gain [Member] | Restricted Stock [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Common stock issued for consulting services, shares | 5,000,000 | ||||||||||
West [Member] | Restricted Stock [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Common stock issued for consulting services, shares | 1,500,000 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | Apr. 01, 2015 | Mar. 13, 2015 | Mar. 12, 2015 | Aug. 28, 2014 | Jun. 15, 2014 | Apr. 09, 2012 | Mar. 19, 2015 | Jan. 16, 2015 | Sep. 25, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Subsequent Events (Textuals) | ||||||||||||||
Descripition of reverse stock split | The Board of Directors and majority shareholders of Monster Arts Inc., approved a reverse stock split of one for two hundred (1:200) of the Company's total issued and outstanding shares of common stock. | The Company executed a 300 to 1 reverse stock split, which was retrospectively applied to our financial statements. | ||||||||||||
Common stock shares issued | 2,182,007,174 | 29,201,615 | ||||||||||||
Stock issued for services, Shares | ||||||||||||||
Stock issued for services, value | $ 224,847 | $ 998,568 | $ 258,414 | $ 156,750 | $ 462,437 | |||||||||
Common stock, value | $ 2,182,007 | $ 29,202 | ||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | ||||||||||||
Debt instrument, issue discount | $ 339,934 | $ 113,361 | ||||||||||||
Premier Venture [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Common stock shares issued | 58,637,933 | |||||||||||||
Common stock, value | $ 0 | |||||||||||||
Common Stock [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Shares issued for conversion of debt | 3,143,311 | |||||||||||||
Debt conversion converted instrument debt amount | $ 25,000 | |||||||||||||
Stock issued for services, Shares | 413,811,693 | 7,355,667 | 430,000 | 2,000 | 3,662 | |||||||||
Stock issued for services, value | $ 413,811 | $ 7,356 | $ 430 | $ 2 | $ 4 | |||||||||
Subsequent Event [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Common stock issued, post reverse stock split | 827,826,153 | |||||||||||||
Shares issued for conversion of debt | 827,626,153 | |||||||||||||
Debt conversion converted instrument debt amount | $ 75,992 | |||||||||||||
Debt instrument, accrued interest | $ 4,674 | |||||||||||||
Stock issued for services, Shares | 200,000 | |||||||||||||
Stock issued for services, value | $ 4,000 | |||||||||||||
Subsequent Event [Member] | Premier Venture [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Common stock, value | $ 5,000,000 | |||||||||||||
Common stock, par value | $ 0.001 | |||||||||||||
Purchase agreement, Description | The Purchase Price for the Shares for each Put shall be the put amount multiplied by seventy percent (70%) of the lowest individual daily VWAP of the Shares during the pricing period less six hundred dollars ($600.00). The maximum number of Shares that the Company shall be entitled to Put to Premier Venture per any applicable Put Notice (the "Put Amount") shall not exceed the lesser of (i) 200% of the average daily trading volume of Company's common stock on the five trading days prior to the date the Put Notice is received by Premier Venture; and (ii) 120% of the highest put amount on any put notice delivered under the Equity Purchase Agreement (the amount shall never be less than 1,000,000 shares). Notwithstanding the preceding sentence, the Put Amount cannot exceed 4.99% of the outstanding shares of the Company. | |||||||||||||
Subsequent Event [Member] | Carebourn Capital Lp [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Debt conversion converted instrument debt amount | $ 15,000 | $ 41,500 | ||||||||||||
Debt instrument, accrued interest | $ 1,554 | |||||||||||||
Interest rate of promissory note | 9.90% | 12.00% | ||||||||||||
Promissory note maturity date | Apr. 16, 2015 | Dec. 19, 2015 | ||||||||||||
Company's stock, conversion rate | 60.00% | 50.00% | ||||||||||||
Cash received upon convertible promissory note | $ 35,000 | |||||||||||||
Debt instrument, issue discount | $ 6,500 | |||||||||||||
Description of convertible promissory note | Conversion rate of 50% multiplied by average of the lowest three (3) trading prices ten (10) trading days prior to the conversion date. | |||||||||||||
Subsequent Event [Member] | Darling Capital Llc [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Debt conversion converted instrument debt amount | $ 33,000 | |||||||||||||
Debt instrument, accrued interest | $ 3,119 | |||||||||||||
Interest rate of promissory note | 10.00% | |||||||||||||
Promissory note maturity date | Jul. 12, 2015 | |||||||||||||
Subsequent Event [Member] | Anibus Capital Partners [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Debt conversion converted instrument debt amount | $ 127,900 | |||||||||||||
Subsequent Event [Member] | Common Stock [Member] | ||||||||||||||
Subsequent Events (Textuals) | ||||||||||||||
Stock issued during period, shares, reverse stock splits | 10,910,194 |
Restated Financial Statements40
Restated Financial Statements (Details) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Feb. 01, 2007 |
Cash | $ 16,116 | $ 46,234 | $ 182,820 | ||||||
Accounts receivable, net of allowance for doubtful accounts of $1,250 | 4,173 | ||||||||
Loan receivable to related party | $ 284,943 | 290,532 | |||||||
Interest receivable to related party | 26,715 | 15,577 | |||||||
Prepaid expenses | 53,240 | 139,996 | |||||||
Total Current Assets | $ 381,014 | 496,512 | |||||||
Fixed Assets | |||||||||
Property and equipment, net | 460 | ||||||||
Total Fixed Assets | 460 | ||||||||
Other Assets | |||||||||
Available-for-sale securities | $ 1,619 | 6,000 | |||||||
Total Other Assets | 1,619 | 6,000 | |||||||
Total Assets | 382,633 | 502,972 | |||||||
Current Liabilities | |||||||||
Accounts payable & accrued expenses | 53,834 | 67,586 | |||||||
Accounts payable & accrued expenses to related parties | 68,156 | 165,913 | |||||||
Accrued interest | 67,907 | 11,659 | |||||||
Deferred revenues | 34,709 | 18,359 | |||||||
Loan from officer | $ 2,500 | 17,021 | |||||||
Notes payable | 10,161 | ||||||||
Notes payable to related party | $ 15,494 | 57,480 | |||||||
Total Convertible Notes Payable, net of discounts | 556,116 | 148,584 | |||||||
Derivative Liability | 1,564,098 | 994,778 | |||||||
Total Liabilities | 2,362,814 | 1,491,541 | |||||||
Stockholders' Equity: | |||||||||
Common stock, $0.001 par value 5,000,000,000 shares authorized, 2,182,007,174 and 29,201,615 shares issued and outstanding, respectively | 2,182,007 | 29,202 | |||||||
Additional paid in capital | $ 5,144,377 | 6,126,501 | |||||||
Stock subscription payable | 488,613 | ||||||||
Accumulated Comprehensive Gain / (Loss) | $ (1,966) | (4,000) | |||||||
Deficit accumulated during the development stage | (9,324,599) | (7,628,885) | |||||||
Total stockholders' equity (deficit) | (1,980,181) | (988,569) | 328,651 | $ (135,300) | $ (12,684) | $ 19,074 | $ (2,166) | $ 39,390 | |
Total Liabilities and Stockholders' Equity | $ 382,633 | 502,972 | |||||||
Originally Reported [Member] | |||||||||
Cash | 46,234 | 182,820 | |||||||
Accounts receivable, net of allowance for doubtful accounts of $1,250 | 4,173 | ||||||||
Loan receivable to related party | 290,532 | ||||||||
Interest receivable to related party | 15,577 | ||||||||
Prepaid expenses | 139,996 | ||||||||
Total Current Assets | 496,512 | ||||||||
Fixed Assets | |||||||||
Property and equipment, net | 460 | ||||||||
Total Fixed Assets | 460 | ||||||||
Other Assets | |||||||||
Available-for-sale securities | 6,000 | ||||||||
Total Other Assets | 6,000 | ||||||||
Total Assets | 502,972 | ||||||||
Current Liabilities | |||||||||
Accounts payable & accrued expenses | 67,586 | ||||||||
Accounts payable & accrued expenses to related parties | 169,577 | ||||||||
Accrued interest | 11,659 | ||||||||
Deferred revenues | 18,359 | ||||||||
Loan from officer | 17,021 | ||||||||
Notes payable | 10,161 | ||||||||
Notes payable to related party | 57,480 | ||||||||
Total Convertible Notes Payable, net of discounts | 261,945 | ||||||||
Derivative Liability | 21,876,947 | ||||||||
Total Liabilities | 22,490,735 | ||||||||
Stockholders' Equity: | |||||||||
Common stock, $0.001 par value 5,000,000,000 shares authorized, 2,182,007,174 and 29,201,615 shares issued and outstanding, respectively | 29,202 | ||||||||
Additional paid in capital | 6,121,441 | ||||||||
Stock subscription payable | 493,673 | ||||||||
Accumulated Comprehensive Gain / (Loss) | (4,000) | ||||||||
Deficit accumulated during the development stage | (28,628,079) | ||||||||
Total stockholders' equity (deficit) | (21,987,763) | ||||||||
Total Liabilities and Stockholders' Equity | 502,972 | ||||||||
Restated [Member] | |||||||||
Cash | 46,234 | $ 182,820 | |||||||
Accounts receivable, net of allowance for doubtful accounts of $1,250 | 4,173 | ||||||||
Loan receivable to related party | 290,532 | ||||||||
Interest receivable to related party | 15,577 | ||||||||
Prepaid expenses | 139,996 | ||||||||
Total Current Assets | 496,512 | ||||||||
Fixed Assets | |||||||||
Property and equipment, net | 460 | ||||||||
Total Fixed Assets | 460 | ||||||||
Other Assets | |||||||||
Available-for-sale securities | 6,000 | ||||||||
Total Other Assets | 6,000 | ||||||||
Total Assets | 502,972 | ||||||||
Current Liabilities | |||||||||
Accounts payable & accrued expenses | 67,586 | ||||||||
Accounts payable & accrued expenses to related parties | 165,913 | ||||||||
Accrued interest | 11,659 | ||||||||
Deferred revenues | 18,359 | ||||||||
Loan from officer | 17,021 | ||||||||
Notes payable | 10,161 | ||||||||
Notes payable to related party | 57,480 | ||||||||
Total Convertible Notes Payable, net of discounts | 148,584 | ||||||||
Derivative Liability | 994,778 | ||||||||
Total Liabilities | 1,491,541 | ||||||||
Stockholders' Equity: | |||||||||
Common stock, $0.001 par value 5,000,000,000 shares authorized, 2,182,007,174 and 29,201,615 shares issued and outstanding, respectively | 29,202 | ||||||||
Additional paid in capital | 6,126,501 | ||||||||
Stock subscription payable | 488,613 | ||||||||
Accumulated Comprehensive Gain / (Loss) | (4,000) | ||||||||
Deficit accumulated during the development stage | (7,628,885) | ||||||||
Total stockholders' equity (deficit) | (988,569) | ||||||||
Total Liabilities and Stockholders' Equity | $ 502,972 |
Restated Financial Statements41
Restated Financial Statements (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Commissions | $ 13,750 | |
Commissions- related parties | ||
License revenues | $ 16,485 | $ 18,163 |
Services | 96,523 | 14,097 |
Related Party Transaction, Other Revenues from Transactions with Related Party | 8,700 | $ 5,387 |
Other revenues | 34,895 | |
Total revenues | 156,603 | $ 51,397 |
Cost of services | 101,449 | 4,838 |
Gross Profit | 55,154 | 46,559 |
Operating expenses: | ||
General and Administrative Expense | 202,183 | 179,858 |
Consulting | 774,984 | 993,343 |
Wages | 155,837 | 177,642 |
Marketing and promotions | 25,156 | 5,000 |
Depreciation and amortization | 460 | 470 |
Professional fees | 142,925 | 91,855 |
Total operating expenses | 1,301,545 | 1,448,168 |
Income (Loss) from operations | (1,246,391) | (1,401,609) |
Net loss before taxes | $ (1,695,714) | $ (2,232,844) |
Tax provisions | ||
Net loss after taxes | $ (1,695,714) | $ (2,232,844) |
Other income and (expenses): | ||
Interest expense | 1,029,050 | 270,120 |
Interest expense - derivative | 1,842,184 | 3,947,092 |
Interest Income, Others | 15,934 | 9,643 |
Gain/(Loss) on derivative adjustment | $ 2,405,977 | $ 3,372,238 |
Loss on debt settlement | ||
Debt forgiveness | $ 4,096 | |
Refund of expense | ||
Impairment loss | ||
Total other income and (expenses) | $ (449,323) | $ (831,235) |
Other Comprehensive Income: | ||
Unrealized loss/(gain) on available-for-sale securities | (2,034) | 4,000 |
Other Comprehensive Income (Loss) | $ (1,693,680) | $ (2,236,844) |
Basic & diluted loss per share | $ 0 | $ (0.31) |
Weighted average shares outstanding | 1,630,676,984 | 7,102,414 |
Originally Reported [Member] | ||
Commissions | $ 13,750 | |
Commissions- related parties | $ 11,470 | |
License revenues | ||
Services | $ 1,961 | |
Related Party Transaction, Other Revenues from Transactions with Related Party | $ 5,387 | |
Other revenues | ||
Total revenues | $ 32,568 | |
Cost of services | 12,627 | |
Gross Profit | 19,941 | |
Operating expenses: | ||
General and Administrative Expense | 80,399 | |
Consulting | 991,122 | |
Wages | 177,642 | |
Marketing and promotions | 17,097 | |
Depreciation and amortization | 44,974 | |
Professional fees | 121,519 | |
Total operating expenses | 1,432,753 | |
Income (Loss) from operations | (1,412,812) | |
Net loss before taxes | $ (23,290,970) | |
Tax provisions | ||
Net loss after taxes | $ (23,290,970) | |
Other income and (expenses): | ||
Interest expense | (14,950) | |
Interest expense - derivative | (21,876,947) | |
Interest Income, Others | $ 9,643 | |
Gain/(Loss) on derivative adjustment | ||
Loss on debt settlement | ||
Debt forgiveness | $ 4,096 | |
Refund of expense | ||
Impairment loss | ||
Total other income and (expenses) | $ (21,878,158) | |
Other Comprehensive Income: | ||
Unrealized loss/(gain) on available-for-sale securities | 4,000 | |
Other Comprehensive Income (Loss) | $ (23,294,970) | |
Basic & diluted loss per share | $ (3.28) | |
Weighted average shares outstanding | 7,102,414 | |
Restated [Member] | ||
Commissions | $ 13,750 | |
Commissions- related parties | ||
License revenues | $ 18,163 | |
Services | 14,097 | |
Related Party Transaction, Other Revenues from Transactions with Related Party | $ 5,387 | |
Other revenues | ||
Total revenues | $ 51,397 | |
Cost of services | 4,838 | |
Gross Profit | 46,559 | |
Operating expenses: | ||
General and Administrative Expense | 1,090,191 | |
Consulting | 192,635 | |
Wages | 68,017 | |
Marketing and promotions | 5,000 | |
Depreciation and amortization | 470 | |
Professional fees | 91,855 | |
Total operating expenses | 1,448,168 | |
Income (Loss) from operations | (1,401,609) | |
Net loss before taxes | $ (2,232,844) | |
Tax provisions | ||
Net loss after taxes | $ (2,232,844) | |
Other income and (expenses): | ||
Interest expense | (270,120) | |
Interest expense - derivative | (3,947,092) | |
Interest Income, Others | 9,643 | |
Gain/(Loss) on derivative adjustment | $ 3,372,238 | |
Loss on debt settlement | ||
Debt forgiveness | $ 4,096 | |
Refund of expense | ||
Impairment loss | ||
Total other income and (expenses) | $ (831,235) | |
Other Comprehensive Income: | ||
Unrealized loss/(gain) on available-for-sale securities | 4,000 | |
Other Comprehensive Income (Loss) | $ (2,236,844) | |
Basic & diluted loss per share | $ (0.31) | |
Weighted average shares outstanding | 7,102,414 |
Restated Financial Statements42
Restated Financial Statements (Details 2) - USD ($) | 9 Months Ended | 12 Months Ended | 91 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net Loss for the period | $ (1,695,714) | $ (2,232,844) | ||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Impairment loss | ||||
License revenues- non cash | $ 16,485 | $ 18,163 | ||
Available-for-sale securities revenues | 3,050 | |||
Debt discount | $ 906,525 | $ 255,230 | ||
Non-cash compensation | $ 8,400 | |||
Forgiveness of debt | ||||
Financing fees | ||||
(Gain)/loss on change in derivative adjustment | $ (569,320) | $ 574,854 | ||
Stock for services expense | 244,847 | $ 998,568 | ||
Stock options for services | ||||
Stock for note extension | ||||
Convertible note issued for consulting services | $ 127,900 | |||
Bad debt | ||||
Loss on debt settlement | ||||
Strategic alliance costs | ||||
Effect from share exchange | ||||
Master purchase agreement | $ (298,745) | |||
Depreciation and amortization | $ 460 | $ 44,974 | ||
Changes in Operated Assets and Liabilities: | ||||
(Increase) decrease in prepaids | ||||
(Increase) decrease in accounts receivable | (4,173) | |||
Increase in interest receivable | (11,138) | $ (6,737) | ||
Increase (decrease) in loan receivable to related party | 5,589 | 18,356 | ||
Increase in deferred revenues | 16,350 | 18,359 | ||
Increase (decrease) in accounts payable and accrued expenses | (13,252) | 54,218 | ||
Increase (Decrease) in Accounts Payable, Related Parties | (28,273) | 42,358 | ||
Increase (decrease) in accrued interest | 55,748 | 9,847 | ||
Net cash (used) in operating activities | $ (956,105) | (524,612) | ||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Proceeds from sale of stock | 168,875 | |||
Stock subscription payable | 7,000 | |||
Proceeds from officer loan | 18,165 | |||
Payments on officer loan | $ (14,521) | (102,270) | ||
Proceeds from convertible notes | $ 1,010,023 | $ 286,865 | ||
Payments on convertible notes | ||||
Proceeds from notes payable | $ 10,161 | |||
Payments on notes payable | $ (17,370) | |||
Proceeds from notes payable to related party | $ (770) | |||
Payments on notes payable to related party | $ 52,145 | |||
Contributed Capital | ||||
Net Cash Provided by Financing Activities | $ 925,987 | $ 388,026 | ||
Net (Decrease) Increase in Cash | (30,118) | (136,586) | ||
Cash at Beginning of Period | $ 182,820 | 46,234 | 182,820 | |
Cash (Overdraft) at End of Period | $ 16,116 | $ 46,234 | ||
SUPPLEMENTAL DISCLOSURES: | ||||
Income Taxes Paid | ||||
Interest Paid | ||||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||
Stock issued for purchase of license | $ 1,053 | $ 450,000 | ||
Stock issued for conversion of convertible notes payable | $ 455,693 | $ 128,165 | ||
Stock issued for debt settlement | 87,500 | |||
Increase in prepaid stock compensation | ||||
Originally Reported [Member] | ||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net Loss for the period | $ (23,290,970) | |||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Impairment loss | ||||
License revenues- non cash | ||||
Available-for-sale securities revenues | $ (3,050) | |||
Debt discount | ||||
Non-cash compensation | ||||
Forgiveness of debt | ||||
Financing fees | ||||
(Gain)/loss on change in derivative adjustment | $ 21,876,947 | |||
Stock for services expense | $ 998,568 | |||
Stock options for services | ||||
Stock for note extension | ||||
Convertible note issued for consulting services | ||||
Bad debt | ||||
Loss on debt settlement | ||||
Strategic alliance costs | ||||
Effect from share exchange | ||||
Master purchase agreement | $ (298,745) | |||
Depreciation and amortization | $ 44,974 | |||
Changes in Operated Assets and Liabilities: | ||||
(Increase) decrease in prepaids | ||||
(Increase) decrease in accounts receivable | ||||
Increase in interest receivable | $ (6,737) | |||
Increase (decrease) in loan receivable to related party | 18,356 | |||
Increase in deferred revenues | 18,359 | |||
Increase (decrease) in accounts payable and accrued expenses | 65,480 | |||
Increase (Decrease) in Accounts Payable, Related Parties | 42,358 | |||
Increase (decrease) in accrued interest | 9,847 | |||
Net cash (used) in operating activities | (524,613) | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Proceeds from sale of stock | 168,875 | |||
Stock subscription payable | 7,000 | |||
Proceeds from officer loan | 18,165 | |||
Payments on officer loan | (102,270) | |||
Proceeds from convertible notes | $ 286,865 | |||
Payments on convertible notes | ||||
Proceeds from notes payable | $ 10,161 | |||
Payments on notes payable | ||||
Proceeds from notes payable to related party | $ (770) | |||
Payments on notes payable to related party | ||||
Contributed Capital | ||||
Net Cash Provided by Financing Activities | $ 388,026 | |||
Net (Decrease) Increase in Cash | (136,586) | |||
Cash at Beginning of Period | 182,820 | 46,234 | 182,820 | |
Cash (Overdraft) at End of Period | $ 46,234 | |||
SUPPLEMENTAL DISCLOSURES: | ||||
Income Taxes Paid | ||||
Interest Paid | ||||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||
Stock issued for purchase of license | ||||
Stock issued for conversion of convertible notes payable | $ 128,165 | |||
Stock issued for debt settlement | ||||
Increase in prepaid stock compensation | ||||
Restated [Member] | ||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net Loss for the period | $ (2,232,844) | |||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Impairment loss | ||||
License revenues- non cash | $ 18,163 | |||
Available-for-sale securities revenues | (3,050) | |||
Debt discount | $ 255,230 | |||
Non-cash compensation | ||||
Forgiveness of debt | ||||
Financing fees | ||||
(Gain)/loss on change in derivative adjustment | $ 574,854 | |||
Stock for services expense | $ 998,568 | |||
Stock options for services | ||||
Stock for note extension | ||||
Convertible note issued for consulting services | ||||
Bad debt | ||||
Loss on debt settlement | ||||
Strategic alliance costs | ||||
Effect from share exchange | ||||
Master purchase agreement | $ (298,745) | |||
Depreciation and amortization | $ 44,974 | |||
Changes in Operated Assets and Liabilities: | ||||
(Increase) decrease in prepaids | ||||
(Increase) decrease in accounts receivable | ||||
Increase in interest receivable | $ (6,737) | |||
Increase (decrease) in loan receivable to related party | 18,356 | |||
Increase in deferred revenues | 18,359 | |||
Increase (decrease) in accounts payable and accrued expenses | 54,217 | |||
Increase (Decrease) in Accounts Payable, Related Parties | 42,358 | |||
Increase (decrease) in accrued interest | 9,847 | |||
Net cash (used) in operating activities | (524,613) | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Proceeds from sale of stock | 168,875 | |||
Stock subscription payable | 7,000 | |||
Proceeds from officer loan | 18,165 | |||
Payments on officer loan | (102,270) | |||
Proceeds from convertible notes | $ 286,865 | |||
Payments on convertible notes | ||||
Proceeds from notes payable | $ 10,161 | |||
Payments on notes payable | ||||
Proceeds from notes payable to related party | $ (770) | |||
Payments on notes payable to related party | ||||
Contributed Capital | ||||
Net Cash Provided by Financing Activities | $ 388,026 | |||
Net (Decrease) Increase in Cash | (136,586) | |||
Cash at Beginning of Period | $ 182,820 | $ 46,234 | 182,820 | |
Cash (Overdraft) at End of Period | $ 46,234 | |||
SUPPLEMENTAL DISCLOSURES: | ||||
Income Taxes Paid | ||||
Interest Paid | ||||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||
Stock issued for purchase of license | ||||
Stock issued for conversion of convertible notes payable | $ 128,165 | |||
Stock issued for debt settlement | ||||
Increase in prepaid stock compensation |
Restated Financial Statements43
Restated Financial Statements (Details Textual) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 | Jul. 19, 2013 |
Restated Financial Statements (Textual) | |||
Allowance for doubtful accounts | $ 1,250 | $ 1,250 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, authorized | 5,000,000,000 | 5,000,000,000 | 730,000,000 |
Common stock, shares issued | 2,182,007,174 | 29,201,615 | |
Common stock, shares outstanding | 2,182,007,174 | 29,201,615 |