Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 18, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Monster Arts Inc. | ' |
Entity Central Index Key | '0001423746 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 968,498,328 |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
Balance_Sheets
Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Current Assets | ' | ' |
Cash | $194,677 | $46,234 |
Accounts receivable, net of allowance for doubtful accounts of $1,250 | 7,775 | 4,173 |
Loan receivable to related party | 287,130 | 290,532 |
Interest receivable to related party | 21,083 | 15,577 |
Prepaid expenses | ' | 139,996 |
Total Current Assets | 510,665 | 496,512 |
Fixed Assets | ' | ' |
Property and equipment,net | 66 | 460 |
Total Fixed Assets | 66 | 460 |
Other Assets | ' | ' |
Available-for-sale securities | 40,200 | 6,000 |
Total Other Assets | 40,200 | 6,000 |
Total Assets | 550,931 | 502,972 |
Current Liabilities | ' | ' |
Accounts payable & accured expenses | 19,468 | 67,586 |
Accounts payable & accrued expenses to related parties | 164,879 | 169,577 |
Accrued interest | 33,854 | 11,659 |
Deferred revenues | 18,605 | 18,359 |
Loan from officer | 14,004 | 17,021 |
Notes payable | 10,183 | 10,161 |
Notes payable to related party | 55,980 | 57,480 |
Convertible notes payable | 699,295 | 261,945 |
Derivative Liability | 10,047,485 | 21,876,947 |
Total Liabilities | 11,063,753 | 22,490,735 |
Stockholders' Equity: | ' | ' |
Preferred stock, $.001 par value 10,000,000 shares authorized, 0 shares issued and outstanding, respectively. Series A preferred stock, $.001 par value 10,000,000 shares authorized, 0 shares issued and outstanding, respectively | ' | ' |
Common stock, $0.001 par value 730,000,000 shares authorized, 539,310,446 and 29,201,615 shares issued and outstanding, respectively | 539,310 | 29,202 |
Additional paid in capital | 19,579,655 | 6,121,441 |
Stock subscription payable | 476,469 | 493,673 |
Accumulated Comprehensive Gain / (Loss) | 30,200 | -4,000 |
Deficit accumulated during the development stage | 31,158,456 | 28,628,079 |
Total stockholders' equity (deficit) | -10,512,822 | -21,987,763 |
Total Liabilities and Stockholders' Equity | 550,931 | 502,972 |
Series A Preferred Stock | ' | ' |
Stockholders' Equity: | ' | ' |
Preferred stock, $.001 par value 10,000,000 shares authorized, 0 shares issued and outstanding, respectively. Series A preferred stock, $.001 par value 10,000,000 shares authorized, 0 shares issued and outstanding, respectively | 20,000 | 20,000 |
Total Liabilities and Stockholders' Equity | ' | ' |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Allowance for doubtfull accounts | $1,250 | $1,250 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 730,000,000 | 730,000,000 |
Common stock, shares issued | 539,310,446 | 29,201,615 |
Common stock, shares outstanding | 539,310,446 | 29,201,615 |
Series A Preferred Stock | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 20,000,000 | 20,000,000 |
Preferred stock, shares outstanding | 20,000,000 | 20,000,000 |
Statements_Of_Operations
Statements Of Operations (USD $) | 3 Months Ended | 6 Months Ended | 88 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Income Statement [Abstract] | ' | ' | ' | ' | ' |
Commissions | ' | $2,500 | ' | $13,750 | $207,385 |
Commissions - related parties | ' | ' | ' | ' | 337,717 |
License revenues | ' | ' | ' | ' | 100,000 |
Services | 40,144 | 3,500 | 97,463 | 3,500 | 109,174 |
Services- related party | 964 | ' | 1,227 | 3,200 | 79,815 |
Total revenues | 41,108 | 6,000 | 98,690 | 20,450 | 834,091 |
Cost of services | ' | ' | ' | ' | 266,860 |
Gross Profit | 41,108 | 6,000 | 98,690 | 20,450 | 567,231 |
Operating expenses: | ' | ' | ' | ' | ' |
General and administration | 69,081 | 48,898 | 98,694 | 59,650 | 761,577 |
Consulting | 403,374 | 21,716 | 622,256 | 314,684 | 2,653,203 |
Wages | 41,940 | 42,218 | 80,833 | 100,568 | 518,131 |
Marketing and promotions | 25,059 | 4,883 | 25,355 | 6,086 | 78,353 |
Depreciation and amortization | 197 | 11,609 | 394 | 23,218 | 69,933 |
Professional fees | 73,533 | 54,830 | 90,016 | 85,035 | 633,115 |
Total operating expenses | 613,184 | 184,154 | 917,548 | 589,241 | 4,714,312 |
Income (Loss) from operations | -572,076 | -178,154 | -818,858 | -568,791 | -4,147,081 |
Other income and (expenses): | ' | ' | ' | ' | ' |
Interest expense | 17,555 | 1,916 | 26,797 | 4,587 | 122,638 |
Interest expense - derivative | 1,689,122 | 621,935 | 1,689,122 | 621,935 | 23,566,069 |
Interest income | 2,200 | 2,263 | 4,400 | 5,243 | 19,202 |
Financing expense | ' | ' | ' | ' | 160,987 |
Loss on debt settlement | ' | ' | ' | ' | -2,700,000 |
Debt forgiveness | ' | ' | ' | ' | -10,552 |
Refund on expenses | ' | ' | ' | ' | 34,000 |
Impairment expense | ' | ' | ' | ' | 525,435 |
Total other income and (expenses) | -1,704,477 | -621,588 | -1,711,519 | -621,279 | -27,011,375 |
Net loss before taxes | -2,276,553 | -799,742 | -2,530,377 | -1,190,070 | -31,158,456 |
Tax provisions | ' | ' | ' | ' | ' |
Net loss after taxes | -2,276,553 | -799,742 | -2,530,377 | -1,190,070 | -31,158,456 |
Gain (Loss) on Available-for-Sale Securities | -43,800 | ' | 34,200 | ' | 30,200 |
Other Comprehensive Income (Loss) | ($2,320,353) | ($799,742) | ($2,496,177) | ($1,190,070) | ($31,128,256) |
Basic & diluted loss per share | ($0.01) | ($0.16) | ($0.01) | ($0.26) | ' |
Weighted average shares outstanding | 415,099,852 | 4,968,186 | 376,552,316 | 4,628,095 | ' |
Statements_Of_Cash_Flows
Statements Of Cash Flows (USD $) | 6 Months Ended | 88 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Net Loss for the period | ($2,530,377) | ($1,190,070) | ($31,158,456) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' | ' |
Impairment loss | ' | ' | 525,435 |
License revenues- non cash | ' | ' | 100,000 |
Available-for-sale securities revenues | 9,423 | ' | 12,473 |
Non-cash compensation | ' | ' | 8,400 |
Forgiveness of debt | ' | ' | -846 |
Financing fees | ' | ' | 160,987 |
Derivative expense | 1,689,122 | 621,935 | 23,566,069 |
Stock for services | 157,858 | 193,492 | 2,030,967 |
Stock options for services | ' | ' | 134,291 |
Stock for note extension | ' | ' | -15,000 |
Convertible note issued for consulting services | 127,900 | ' | 127,900 |
Bad debt | ' | ' | -1,250 |
Discount on notes payable | ' | ' | 15,000 |
Loss on debt settlement | ' | -30,000 | -2,700,000 |
Strategic alliance costs | ' | ' | 45,878 |
Effect from share exchange | ' | ' | -24,618 |
Master purchase agreement | ' | 298,745 | 298,745 |
Depreciation and amortization | 394 | 394 | 77,738 |
Changes in Operated Assets and Liabilities: | ' | ' | ' |
(Increase) decrease in prepaids | -139,996 | -262 | -139,996 |
(Increase) decrease in accounts receivable | 3,602 | 1,000 | 9,025 |
Increase in interest receivable | 5,506 | 2,350 | 21,083 |
Decrease in unamortized financing fees | ' | ' | 2,875 |
Increase (decrease) in loan receivable to related party | 3,402 | 163,562 | 293,934 |
Increase in unearned revenues | 246 | ' | 18,605 |
Increase (decrease) in accounts payable and accrued expenses | -13,017 | 77,068 | 54,569 |
Increase in accounts payable to related parties | -14,698 | 14,721 | 154,879 |
Increase (decrease) in accrued interest | 22,195 | -454 | 33,854 |
Net cash (used) in operating activities | -435,510 | -391,185 | -1,474,133 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from sale of stock | ' | 168,875 | 515,845 |
Stock subscription payable | ' | 12,000 | 7,000 |
Proceeds from officer loan | ' | 14,565 | 119,290 |
Payments on officer loan | 3,107 | 102,269 | 105,376 |
Proceeds from convertible notes | 593,721 | 119,800 | 1,121,086 |
Payments on convertible notes | ' | ' | 6,000 |
Proceeds from note payable | ' | ' | 10,161 |
Payments on notes payable | 5,161 | ' | 5,161 |
Payments on notes payable to related party | 1,500 | ' | -10,980 |
Contributed capital | ' | ' | 985 |
Net Cash Provided by Financing Activities | 583,953 | 212,971 | 1,668,810 |
Net (Decrease) Increase in Cash | 148,443 | -178,214 | 194,677 |
Cash at Beginning of Period | 46,234 | 182,820 | ' |
Cash (Overdraft) at End of Period | 194,677 | 4,606 | 194,677 |
SUPPLEMENTAL DISCLOSURES: | ' | ' | ' |
Income Taxes Paid | ' | ' | ' |
Interest Paid | ' | ' | ' |
NON-CASH INVESTING AND FINANCNG ACTIVITIES: | ' | ' | ' |
Convertible note payable issued for consulting services | 127,900 | ' | 127,900 |
Stock issued for purchase of license | ' | ' | 450,000 |
Stock issued for conversion of convertible notes payable | 279,088 | 15,000 | 839,495 |
Stock issued for debt settlement | ' | ' | 2,700,000 |
Increase in prepaid stock compensation | ' | ' | $257,419 |
Organization_Business_Descript
Organization & Business Description | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [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 the Master Purchase Agreement in Note 14). | |
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 June 30, 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. | |
Going_Concern
Going Concern | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [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 June 30, 2014, the Company incurred an accumulated deficit during development stage of approximately $31,138,456. 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_Policie
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
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”). | |
The accompanying unaudited quarterly financial statements have been prepared on a basis consistent with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and pursuant to the rules of the Securities and Exchange Commission (“SEC”). In the opinion of management, the accompanying unaudited financial statements reflect all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. The results of operations for the periods are not necessarily indicative of the results expected for the full year or any future period. These statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 as filed with the SEC on April 15, 2014 (the “2013 Annual Report”). | |
Development Stage Company | |
The Company is currently a development stage enterprise reporting under the provisions of FASB ASC Topic 915, Development Stage Entity. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. | |
Reclassification | |
On April 9, 2012, the Company executed a 300 to 1 reverse stock split, which was retrospectively applied to the financial statements. | |
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 June 30, 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. | |
At June 30, 2014, the Company had multiple convertible debentures outstanding that if-converted would result in 190,425,090 new common shares being issued. | |
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 June 30, 2014 and December 31, 2013, we have $9,025 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”. Accordingly costs associated with the website consist primarily of website development costs paid to a third party. These capitalized costs are amortized based on their estimated useful life over two years upon the website becoming operational. Internal costs related to the development of website content will be charged to operations as incurred. | |
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 | 6 Months Ended |
Jun. 30, 2014 | |
Available For Sale Securities | ' |
Available for Sale Securities | ' |
NOTE 4 - AVAILABLE FOR SALE SECURITIES | |
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 June 30, 2014 using the ILIV closing stock price of $0.0012 per share which resulted in the Company recording an unrealized loss on available-for-sale securities of $34,200 for the three months ended June 30, 2014. In the six months ended June 30, 2014, the Company recorded $12,000 as revenues earned pursuant to the agreement. As of June 30, 2014 and December 31, 2013, the Company had an available-for-sale securities asset balance of $840,200 and $6,000. |
Property_Equipment
Property & Equipment | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Fixed Assets | ' | ||||||||
Property & Equipment | ' | ||||||||
NOTE 5 - PROPERTY & EQUIPMENT | |||||||||
Property and equipment consists of the following at June 30, 2014 and December 31, 2013: | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
Property and equipment, net | $ | 2,364 | $ | 2,364 | |||||
Less: accumulated depreciation | 2,298 | 1,904 | |||||||
Property and equipment, net | $ | 66 | $ | 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 six months ended June 30, 2014 and 2013 was $394. |
Asset_Purchase_Agreement_With_
Asset Purchase Agreement With Iconosys (TAVG) | 6 Months Ended |
Jun. 30, 2014 | |
Asset Purchase Agreement With Iconosys Tavg | ' |
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. | |
Being Iconosys is a related party to the Company, it was management’s decision to not record an intangible asset related to the asset purchase. As of December 31, 2013, the Company has not yet issued the 1,052,632 shares and has recorded them as a stock payable. | |
In the six months ended June 30, 2014, the Company recognized $26,419 in services income relating to the TAVG asset. The Company also recorded deferred revenues of $13,423 relating to TAVG membership sales which will be recognized over the one year subscription term. |
Convertible_Notes_Payable
Convertible Notes Payable | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Convertible Notes Payable | ' | ||||||||
NOTE 7 - CONVERTIBLE NOTES PAYABLE | |||||||||
Asher Enterprises, Inc. | |||||||||
As of June 30, 2014, the Company has four convertible notes outstanding to Asher Enterprises, Inc. with a combined principle balance of $152,500. | |||||||||
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. | |||||||||
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. | |||||||||
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 June 30, 2014, the entire principle balance of $37,500 was converted into 34,210,025 shares of common stock in the Company. | |||||||||
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 June 30, 2014, the entire principle balance of $32,500 was converted into 43,779,046 shares of common stock in the Company. | |||||||||
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 June 30, 2014, Asher converted $23,440 of debt into 53,875,000 shares of common stock, 28,250,000 shares were not issued till July of 2014 and recorded as a stock payable. This left a balance remaining on this note of $36,560 as of June 30, 2014. | |||||||||
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 June 30, 2014, there has been no conversion of debt pertaining to this outstanding convertible promissory note. | |||||||||
In the six months ended June 30, 2014, Asher converted $191,950 of convertible debt and $5,900 of accrued interest into 166,111,049 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. | |||||||||
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 six months ended June 30, 2014, the Company issued 48,637,933 common shares to Premier pursuant to the court ordered settlement. As of June 30, 2014, the Company must issue approximately 10,030,106 additional common shares to Premier to settle the court order. | |||||||||
In the year ended December 31, 2013, the Company has issued 7,243,417 common shares to Premier and was required to issue an additional 58,668,039 shares of common stock in the Company. | |||||||||
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. | |||||||||
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 June 30, 2014, there has been no debt converted on this note. | |||||||||
Michael Lace | |||||||||
On June 26, 2013, the Company entered into a Securities Purchase Agreement with Michael Lace for a $2,800 note payable due interest at 9% per annum, unsecured, and due June 26, 2014. The note is convertible into common shares of the Company at a conversion rate of $.05per share. In the year ended December 31, 2013, Mr. Lace exercised his conversion rights to convert $2,800 of convertible debt and $11 of accrued interest into 56,221 common shares. | |||||||||
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 $.095per share. | |||||||||
Balamurugan Shanmugam | |||||||||
On August 8, 2013, the Company entered into a Securities Purchase Agreement with Balamurugan Shanmugam for a $5,000 note payable due interest at 9% per annum, unsecured, and due August 8, 2014. The note is convertible into common shares of the Company at a conversion rate of $.10per share. On September 26, 2013, Balamurugan exercised his right to convert his $5,000 of convertible debt and $60 of accrued interest into 50,604 common shares. | |||||||||
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 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 fifteen days prior to conversion. As of June 30, 2014, there has been no debt converted on this note. | |||||||||
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 may at any time 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 June 30, 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 0% for the first three months, then 12% per annum thereafter. 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 twenty-five days prior to conversion. In March of 2014, the Company received $30,000 pursuant to the convertible promissory note with JMJ Financial. In June of 2014, the Company received an additional $30,000 pursuant to the convertible promissory note with JMJ Financial. As of June 30, 2014, the Company has received only $60,000 pursuant to this convertible promissory note. There has been no principle converted as of June 30, 2014. | |||||||||
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. Monster Arts, Inc., a Nevada corporation, Defendant, bearing Civil Action in the Circuit Court in the Twelfth Judicial Circuit in and for Sarasota County, Florida, after due notice, the court entered an order approving the Settlement Agreement and Stipulation. 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. In accordance with the terms of the Settlement Agreement and Stipulation, the court was advised of our intention to rely upon the exception to registration set forth in Section 3(a)(l0) of the Securities Act to support the issuance of the shares. | |||||||||
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 June 30, 2014, as permitted by the court order and the Settlement Agreement and Stipulation, the Company has issued 95,000,000 shares to IBC LLC for the conversion of $56,000. 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 June 30, 2014, there has been $10,000 of principle and $1,051 in accrued interest converted on this note leaving a remaining balance of $0 on this note. | |||||||||
On April 30, 2014, the Company entered into a convertible promissory note with WHC Capital, LLC in the amount of $220,000 , with interest of 12% per annum, unsecured, and due April 30, 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 55% of the lowest closing bid price in the fifteen days prior to conversion. As of June 30, 2014, there has been no debt converted on this note. | |||||||||
Beaufort Capital | |||||||||
On June 27, 2014, the Company entered into a convertible promissory note with Beaufort Capital Partners LLC in the amount of $50,000 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 June 30, 2014, there has been no debt converted on this note. | |||||||||
Jennifer Salwender | |||||||||
On May 1, 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 1, 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 June 30, 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 at any time 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 June 30, 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 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 June 30, 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 at any time 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 June 30, 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 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 June 30, 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 at any time 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. As of June 30, 2014, there has been no debt converted on this note. | |||||||||
The following table summarizes the total outstanding principle on convertible notes payable: | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
Convertible Notes Payable- Asher Enterprises, Inc. | $ | 59,060 | $ | 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 | 15,000 | 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 | 74,000 | — | |||||||
Convertible Note payable - JMJ Financial | 60,000 | — | |||||||
Convertible Note payable - IBC Funds, LLC | 152,321 | — | |||||||
Convertible Note payable - WHC Capital, LLC | 21,949 | — | |||||||
Convertible Note payable - ADAR BAYS, LLC | 30,000 | — | |||||||
Convertible Note payable - Beaufort Capital | 50,000 | — | |||||||
Convertible Note payable - Brent Denlinger | 15,000 | — | |||||||
Convertible Note payable - Jessie Redmayne | 5,000 | — | |||||||
Convertible Note payable - Jennifer Salwender | 20,000 | — | |||||||
Convertible Note payable - Anubis Capital Partners | 127,900 | — | |||||||
Convertible Note payable - KBM Worldwide | 63,000 | — | |||||||
Total | $ | 699,295 | $ | 261,945 | |||||
The accrued interest on convertible notes payable at June 30, 2014 and December 31, 2013 was $33,854 and 11,695, respectively. | |||||||||
Derivative liability | |||||||||
At June 30, 2014 and December 31, 2013, the Company had $10,047,485 and 21,876,947 in derivative liability pertaining to the outstanding convertible notes. 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. |
Stockholders_Deficit
Stockholders' Deficit | 6 Months Ended |
Jun. 30, 2014 | |
Equity [Abstract] | ' |
Stockholders' Deficit | ' |
NOTE 8 - STOCKHOLDERS' DEFICIT | |
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 stocks have 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 June 30, 2014 all of which were issued to the Company’s chief executive officer, Wayne Irving II, for services rendered. | |
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 six months ended June 30, 2014, the Company issued 510,108,831 common shares of which 166,111,049 were issued to Asher Enterprises, Inc. for the conversion of $191,950 in convertible debt and $5,900 in accrued interest, 48,637,933 shares were issued to Premier Venture Partners, LLC pursuant to the court ordered settlement, 95,000,000 shares to IBC, LLC for the conversion of $56,000, 100,000,000 shares to our chief executive officer, Wayne Irving, for the reduction of $25,000 in accrued payroll liability, 22,325,475 to WHC Capital, LLC for the conversion of $11,051 in convertible dent, 19,222,681 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 and 84,055,110 shares were to consultants for services by June 30, 2014. The Company valued the 84,055,110 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 $137,858. | |
Contingency_Agreements
Contingency Agreements | 6 Months Ended |
Jun. 30, 2014 | |
Contingency Agreements | ' |
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 June 30, 2014. Since this agreement was between related parties, being the two company’s share an officer, the Company did not record an asset for the excess consideration received but recorded the debit to additional paid in capital. | |
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 six months ended June 30, 2014 and in the year ended December 31, 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 June 30, 2014 using the closing price of ILIV of $0.0012 per share which resulted in the Company recording an unrealized gain on available-for-sale securities of $34,200. | |
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 June 30, 2014 and December 31, 2013, the Company had accrued wages of $151,039 and $155,706, respectively which are included in accounts payable and accrued expenses to related party balance. In the six months ended June 30, 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. | |
Consulting Agreement with Mind Solutions, Inc. | |
On February 19, 2014, the Company entered into a consulting agreement with Mind Solutions, Inc., whereby Mind Solutions, Inc. will provide the Company with thought controlled software development services over a one year term. The Company will pay Mind Solutions, Inc. four quarterly payments of $50,000 in restricted common stock of the Company. In the six months ended June 30, 2014, the Company issued 39,583,333 shares of common stock. |
Related_Party_Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
NOTE 10 - RELATED PARTY TRANSACTIONS | |
Issuance of Preferred Stock | |
The Company has 10,000,000 Series A preferred shares issued and outstanding as of June 30, 2014 which were issued to the Company’s chief executive officer, Wayne Irving II, for services rendered. | |
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. | |
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 June 30, 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. | |
Debt Settlement Agreement with Wayne Irving, II | |
In the six months ended June 30, 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. | |
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. | |
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 six months ended June 30, 2014 and for the year ended December 31, 2013 the Company recognized $250 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 June 30, 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 7, the Company issued a promissory note to Iconosys in the amount of $45,000, due August 7, 2014, with annum interest of 4%. | |
At June 30, 2014 and December 31, 2013, the Company had notes payable to related parties balance of $55,980 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 June 30, 2014 and December 31, 2013, the total loan receivable balance advanced to Iconosys is $313,333 and $290,532, respectively. At June 30, 2014 and December 31, 2013, the accrued interest receivable to related party balance was $21,083 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 June 30, 2014 and December 31, 2013, the Company had accrued wages of $151,039 and $155,706, respectively which are included in accounts payable and accrued expenses to related party balance. | |
The accounts payable to related parties balance at June 30, 2014 and December 31, 2013 was $154,879 and $169,577. | |
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 June 30, 2013 and December 31, 2013 the loan from officer balance was $14,004 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 June 30, 2014. Since this agreement was between related parties, being the two company’s share an officer, the Company did not record an asset for the excess consideration received but recorded the debit to additional paid in capital. | |
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 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. |
Subsequent_Events
Subsequent Events | 6 Months Ended | ||
Jun. 30, 2014 | |||
Subsequent Events [Abstract] | ' | ||
Subsequent Events | ' | ||
NOTE 11 - 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 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. | ||
2 | On July 14, 2014, the Company entered into a Debt Purchase Agreement with Sojourn Investments, LP whereby the Company issued an aggregate principle amount of $37,500 in convertible debt for a purchase price of $25,000. 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. | ||
3 | 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. | ||
4 | From July 1, 2014 to the date of this filing, the Company issued 419,187,882 additional common shares of the Company of which 158,411,684 shares were for the reduction of $57,883 in convertible debt from four unrelated third parties, 10,776,198 shares for consulting services and 250,000,000 shares to our chief executive officer for the reduction of $25,000 of accrued payroll liabilities. | ||
5 | On August 8, 2014, our Board of Directors and majority shareholders, believing it to be in the best interests of the Company and its shareholders, approved the amendment to the Company's Articles to increase the shares of blank check preferred stock, $0.001 par value per share, from 20,000,000 to 100,000,000 shares (the "Preferred Stock”). | ||
6 | On August 8, 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 100 to 1 but have no effect on the number of authorized shares of Common Stock or Preferred Stock. | ||
7 | 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. | ||
8 | 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. | ||
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
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”). | |
The accompanying unaudited quarterly financial statements have been prepared on a basis consistent with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and pursuant to the rules of the Securities and Exchange Commission (“SEC”). In the opinion of management, the accompanying unaudited financial statements reflect all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. The results of operations for the periods are not necessarily indicative of the results expected for the full year or any future period. These statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 as filed with the SEC on April 15, 2014 (the “2013 Annual Report”). | |
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. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. | |
Reclassification | ' |
Reclassification | |
On April 9, 2012, the Company executed a 300 to 1 reverse stock split, which was retrospectively applied to the financial statements. | |
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 June 30, 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. | |
At June 30, 2014, the Company had multiple convertible debentures outstanding that if-converted would result in 190,425,090 new common shares being issued. | |
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 June 30, 2014 and December 31, 2013, we have $9,025 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”. Accordingly costs associated with the website consist primarily of website development costs paid to a third party. These capitalized costs are amortized based on their estimated useful life over two years upon the website becoming operational. Internal costs related to the development of website content will be charged to operations as incurred. | |
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. |
Property_Equipment_Tables
Property & Equipment (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Fixed Assets | ' | ||||||||
Schedule of Property & Equipment | ' | ||||||||
Property and equipment consists of the following at June 30, 2014 and December 31, 2013: | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
Property and equipment, net | $ | 2,364 | $ | 2,364 | |||||
Less: accumulated depreciation | 2,298 | 1,904 | |||||||
Property and equipment, net | $ | 66 | $ | 460 |
Convertible_Notes_Payable_Tabl
Convertible Notes Payable (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Convertible Notes Payable Tables | ' | ||||||||
Schedule of Total Outstanding Principle on Convertible Notes Payable | ' | ||||||||
The following table summarizes the total outstanding principle on convertible notes payable: | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
Convertible Notes Payable- Asher Enterprises, Inc. | $ | 59,060 | $ | 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 | 15,000 | 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 | 74,000 | — | |||||||
Convertible Note payable - JMJ Financial | 60,000 | — | |||||||
Convertible Note payable - IBC Funds, LLC | 152,321 | — | |||||||
Convertible Note payable - WHC Capital, LLC | 21,949 | — | |||||||
Convertible Note payable - ADAR BAYS, LLC | 30,000 | — | |||||||
Convertible Note payable - Beaufort Capital | 50,000 | — | |||||||
Convertible Note payable - Brent Denlinger | 15,000 | — | |||||||
Convertible Note payable - Jessie Redmayne | 5,000 | — | |||||||
Convertible Note payable - Jennifer Salwender | 20,000 | — | |||||||
Convertible Note payable - Anubis Capital Partners | 127,900 | — | |||||||
Convertible Note payable - KBM Worldwide | 63,000 | — | |||||||
Total | $ | 699,295 | $ | 261,945 |
Property_Equipment_Details
Property & Equipment (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Property Equipment Details | ' | ' |
Property and equipment, net | $2,364 | $2,364 |
Less : accumulated depreciation | 2,298 | 1,904 |
Property and equipment, net | $66 | $460 |
Convertible_Notes_Payable_Deta
Convertible Notes Payable (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | $699,295 | $261,945 |
Convertible Note Payable - Asher Enterprises Inc | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 59,060 | 228,510 |
Convertible Note Payable - Tangier Investors LLP | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | ' | ' |
Convertible Notes Payable - Premier Venture Partners LLC | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | ' | 17,370 |
Convertible Note Payable - Dennis Pieczarka | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 2,500 | 2,500 |
Convertible Note Payable - Christopher Thompson | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 15,000 | 10,000 |
Convertible Note Payable - James Ault | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 2,565 | 2,565 |
Convertible Note Payable - Charles Knoop | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 1,000 | 1,000 |
Convertible Note Payable - LG Capital Funding | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 74,000 | ' |
Convertible Note Payable - JMJ Financial | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 60,000 | ' |
Convertible Note Payable - IBC Funds, LLC | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 152,321 | ' |
Convertible Note Payable - WHC Capital, LLC | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 21,949 | ' |
Convertible Note Payable - ADAR BAYS, LLC | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 30,000 | ' |
Convertible Note Payable - Beaufort Capital | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 50,000 | ' |
Convertible Note Payable - Brent Denlinger | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 15,000 | ' |
Convertible Note Payable - Jessie Redmayne | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 5,000 | ' |
Convertible Note Payable - Jennifer Salwender | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 20,000 | ' |
Convertible Note Payable - Anubis Capital Partners | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | 127,900 | ' |
Convertible Note Payable - KBM Worldwide | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Convertible notes payable, outstanding amount | $63,000 | ' |
Significant_Accounting_Policie2
Significant Accounting Policies (Narrative) (Details) (USD $) | 0 Months Ended | 6 Months Ended | |
Apr. 09, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | |
Significant Accounting Policies Narrative Details | ' | ' | ' |
Reverse stock split | '300 to 1 | ' | ' |
Estimated useful life of equipment | ' | '3 years | ' |
Intangible assets useful life | ' | '10 years | ' |
Accounts receivable gross | ' | $9,025 | $5,423 |
Shares issued for conversion of debt | ' | 190,425,090 | ' |
Available_For_Sale_Securities_
Available For Sale Securities (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 88 Months Ended | 0 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Nov. 01, 2013 | Jun. 30, 2014 | |
Equity Securities | Equity Securities | |||||||
Intelligent Living Inc | Intelligent Living Inc | |||||||
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. 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. | ||||||||
Common shares received upon closing of the agreement | ' | ' | ' | ' | ' | ' | 10,000,000 | ' |
Shares closing price | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 |
Available-for-sale securities | $40,200 | ' | $40,200 | ' | $40,200 | $6,000 | $10,000 | ' |
Revenues earned pursuant to the agreement | $41,108 | $6,000 | $98,690 | $20,450 | $834,091 | ' | ' | $12,000 |
Property_And_Equipment_Narrati
Property And Equipment (Narrative) (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Property And Equipment Narrative Details | ' | ' |
Depreciation expenses | $394 | $394 |
Asset_Purchase_Agreement_With_1
Asset Purchase Agreement With Iconosys (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 88 Months Ended | 0 Months Ended | 6 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Aug. 08, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | |
Asset Purchase Agreement | Asset Purchase Agreement | Asset Purchase Agreement | |||||||
Agreement with Officer Company of Iconosys, Inc., | Agreement with Officer Company of Iconosys, Inc., | Agreement with Officer Company of Iconosys, Inc., | |||||||
Description of asset purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 | |||||||||
No of shares recorded as stock payable | ' | ' | ' | ' | ' | ' | ' | ' | 1,052,632 |
Service Revenue - relating to TAVG assets | $40,144 | $3,500 | $97,463 | $3,500 | $109,174 | ' | ' | $26,419 | ' |
Deferred Revenue - relating to TAVG membership sales | $18,605 | ' | $18,605 | ' | $18,605 | $18,359 | ' | $13,423 | ' |
Convertible_Notes_Payable_Narr
Convertible Notes Payable (Narrative) (Details) (USD $) | 6 Months Ended | 88 Months Ended | 0 Months Ended | 1 Months Ended | 6 Months Ended | 0 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | 1-May-14 | Jun. 16, 2014 | Mar. 15, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | 27-May-14 | Jun. 30, 2014 | Apr. 30, 2014 | Jun. 27, 2014 | 1-May-14 | 2-May-14 | Apr. 16, 2014 | Jun. 13, 2014 | Apr. 04, 2014 | Apr. 02, 2014 | Oct. 24, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 11, 2013 | Jun. 30, 2014 | 13-May-13 | Jun. 30, 2014 | Jun. 14, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jul. 10, 2013 | Jun. 30, 2014 | Sep. 12, 2013 | Jun. 30, 2014 | Dec. 23, 2013 | Feb. 14, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | 22-May-13 | 27-May-14 | Apr. 02, 2013 | 1-May-14 | Jun. 26, 2013 | Dec. 31, 2013 | Jul. 09, 2013 | Sep. 26, 2013 | Aug. 08, 2013 | Mar. 07, 2014 | Apr. 24, 2014 | Jun. 30, 2014 | |
Convertible Note Payable Issued on May 1, 2014 - Christopher Thompson | Convertible Note Payable Issued on June 16, 2014 - LG Capital Funding | Convertible Note Payable Issued on March 15, 2014 - JMJ Financial | Convertible Note Payable Issued on March 15, 2014 - JMJ Financial | Convertible Note Payable Issued on March 15, 2014 - JMJ Financial | Convertible Note Payable Issued on March 15, 2014 - JMJ Financial | Convertible Note Payable Assigned on May 27, 2014 to WHC Capital, LLC | Convertible Note Payable Assigned on May 27, 2014 to WHC Capital, LLC | Convertible Note Payable Issued on April 30, 2014 - WHC Capital, LLC | Convertible Note Payable Issued on June 27, 2014 - Beaufort Capital | Convertible Note Payable Issued on May 1, 2014 - Jennifer Salwender | Convertible Note Payable Issued on May 2, 2014 - Adar Bays, LLC | Convertible Note Payable Issued on April 16, 2014 - Brent Denlinger | Convertible Note Payable Issued on June 13, 2014 - KBM Worldwide, Inc. | Convertible Note Payable Issued on April 04, 2014 - Jessie Redmayne | Convertible Note Payable Issued on April 1, 2014 - Anubis Capital Partners | Premier Venture Partners LLC | Premier Venture Partners LLC | Premier Venture Partners LLC | Common Stock | Convertible Note Payable Issued on April 11, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on April 11, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on May 13, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on May 13, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on June 14, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on June 14, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on July 10, 2013- Asher Enterprises Inc | Convertible Note Payable Issued on July 10, 2013- Asher Enterprises Inc | Convertible Note Payable Issued on September 12, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on September 12, 2013 - Asher Enterprises Inc | Convertible Note Payable Issued on December 23, 2013 - Asher Enterprises, Inc. | Convertible Note Payable Issued on December 23, 2013 - Asher Enterprises, Inc. | Convertible Note Payable Issued on February 14, 2014 - Asher Enterprises Inc | Convertible Note Payable - Asher Enterprises Inc | Convertible Note Payable - Asher Enterprises Inc | Convertible Note Payable Issued on May 22, 2013 - Dennis Pieczarka | Convertible Note Payable Issued on April 1, 2013 - Christopher Thompson | Convertible Note Payable Issued on April 1, 2013 - Christopher Thompson | Convertible Note Payable Issued on May 1, 2014 - Christopher Thompson | Convertible Note Payable Issued on June 26, 2013 - Michael Lace | Convertible Note Payable Issued on June 26, 2013 - Michael Lace | Convertible Note Payable Issued on July 9, 2013 - Charles Knoop | Convertible Note Payable Issued on August 8, 2013 - Balamurugan Shanmugam | Convertible Note Payable Issued on August 8, 2013 - Balamurugan Shanmugam | Convertible Note Payable Issued on March 07, 2014 - LG Capital Funding | Convertible Note Payable - IBC Funds, LLC | Convertible Note Payable - IBC Funds, LLC | ||||
Common Stock | Common Stock | IBC Funds LLC vs Monster Arts, Inc | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face value of note payable | ' | ' | ' | $15,000 | $42,000 | $500,000 | ' | ' | ' | ' | ' | $220,000 | $50,000 | $20,000 | $30,000 | $15,000 | $63,000 | $5,000 | $127,900 | ' | ' | ' | ' | $42,500 | ' | $63,000 | ' | $37,500 | ' | ' | $37,500 | ' | $32,500 | ' | $60,000 | $22,500 | ' | ' | $2,500 | ' | $10,000 | ' | $2,800 | ' | $1,000 | ' | $5,000 | $32,000 | ' | ' |
Interest term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
0% for the first three months, then 12% per annum thereafter | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest percent | ' | ' | ' | 9.90% | 8.00% | ' | ' | ' | ' | ' | ' | 12.00% | 12.00% | 9.00% | 8.00% | 9.90% | 8.00% | 9.90% | 10.00% | ' | ' | ' | ' | 8.00% | ' | 8.00% | ' | 8.00% | ' | ' | 8.00% | ' | 8.00% | ' | 8.00% | 8.00% | ' | ' | 9.00% | ' | 9.00% | ' | 9.00% | ' | 9.00% | ' | 9.00% | 8.00% | ' | ' |
Debt conversion terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
The convertible notes principle and accrued interest may at any time 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 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 twenty-five 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 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 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. | 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 at any time 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. | 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. | 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 55% 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. | 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 50% of the lowest closing bid price in the twenty days prior to conversion. | 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. | 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. | The convertible notes 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 fifteen days prior to conversion | ||||||||||||||||||||||||||||||||||||||
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 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 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 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. | 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. | 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. | |||||||||||||||||||||||||||||||||||||||||||||
Note maturity date | ' | ' | ' | ' | 16-Jun-15 | ' | ' | ' | ' | ' | ' | 30-Apr-15 | 27-Dec-14 | 1-May-15 | 2-May-15 | 16-Apr-15 | 17-Mar-15 | 4-Apr-15 | 1-Apr-15 | ' | ' | ' | ' | 14-Jan-14 | ' | 17-Feb-14 | ' | 18-Mar-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22-May-14 | ' | 1-Apr-14 | 1-May-15 | 26-Jun-14 | ' | 9-Jul-14 | ' | 8-Aug-14 | 7-Mar-15 | ' | ' |
Proceeds from Note | 593,721 | 119,800 | 1,121,086 | ' | ' | ' | 30,000 | 30,000 | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion converted instrument debt amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 128,083 | ' | 42,500 | ' | 63,000 | ' | 37,500 | 37,500 | ' | 32,500 | ' | 23,440 | ' | ' | 191,950 | 44,490 | ' | ' | ' | ' | ' | 2,800 | ' | 5,000 | ' | ' | ' | 56,000 |
Shares issued for conversion of debt | 190,425,090 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,775,358 | ' | 5,606,783 | ' | 38,283,516 | ' | 25,333,333 | 34,210,025 | ' | 43,779,046 | ' | 53,875,000 | ' | ' | 166,111,049 | 7,265,116 | ' | ' | ' | ' | ' | 56,221 | ' | 50,604 | ' | ' | ' | 95,000,000 |
Debt instrument carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,560 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | $0.10 | ' | $0.05 | ' | $0.10 | ' | $0.10 | ' | ' | ' |
Notes assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | 208,321 | ' |
Interest portion of the notes assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,051 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,025 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,900 | ' | ' | ' | ' | ' | ' | 11 | ' | 60 | ' | ' | ' | ' |
Claim amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -63,063 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
10% settlement fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,306 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Attorney fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,770 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total settlement amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $75,139 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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. In accordance with the terms of the Settlement Agreement and Stipulation, the court was advised of our intention to rely upon the exception to registration set forth in Section 3(a)(l0) of the Securities Act to support the issuance of the shares. | ||||||||||||||||||||||||||||||||||||||||||||||||||
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”. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Stock conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Shaes to be issued as per court settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,911,456 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued as per court settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,637,933 | 7,243,417 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional common shares to be issued to settle the court order | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,030,106 | 58,668,039 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Deficit_Stock_iss
Stockholders' Deficit (Stock issued) (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 88 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jul. 19, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | |
Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | |||||||
Convertible Note Payable Assigned on May 27, 2014 to WHC Capital, LLC | Wayne Irving | Ad Shark, Inc., | Ad Shark, Inc., | Consultant for Services | Consultant for Services | ||||||||||
Changes in capital structure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 stocks have a par value of $0.001. The Company then designated 10,000,000 preferred shares as Series A Preferred Stock. 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. | |||||||||||||||
Shares issued for conversion of debt | ' | ' | ' | 190,425,090 | ' | ' | ' | 14,775,358 | ' | 22,325,475 | ' | ' | ' | ' | ' |
Debt conversion converted instrument original debt amount | ' | ' | ' | ' | ' | ' | ' | $128,083 | ' | $11,051 | ' | ' | ' | ' | ' |
Shares issued for services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 76,811,693 | 7,355,667 |
Consulting expense | ' | 403,374 | 21,716 | 622,256 | 314,684 | 2,653,203 | ' | ' | ' | ' | ' | ' | ' | 137,858 | 814,275 |
Total shares issued during period | ' | ' | ' | ' | ' | ' | 510,108,831 | 26,136,087 | ' | ' | ' | ' | ' | ' | ' |
Shares issued for cash, shares | ' | ' | ' | ' | ' | ' | ' | 861,751 | ' | ' | ' | ' | ' | ' | ' |
Shares issued for cash, value | ' | ' | ' | ' | ' | ' | ' | 454,300 | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of stock | ' | ' | ' | ' | 168,875 | 515,845 | ' | ' | 278,425 | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | 82 | ' | ' | ' | ' | ' | ' | ' |
Shares issued for reduction of accrued payroll liability, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' |
Shares issued for reduction of accrued payroll liability, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,000 | ' | ' | ' | ' |
Cancellation of shares issued to consultants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 323,833 |
Conversion of Ad Shark Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,767,684 | ' | ' |
Shares issued to Ad Shark on conversion of their shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,222,681 | 3,143,311 | ' | ' |
Conversion ratio description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of their Ad Shark, Inc. shares at a ratio of 4.38 Ad Shark shares to Monster Arts Inc. |
Contingency_Agreements_Narrati
Contingency Agreements (Narrative) (Details) (Restricted Common Stock, Mind Solution, Inc.,) | 0 Months Ended | 6 Months Ended |
Feb. 19, 2014 | Jun. 30, 2014 | |
Restricted Common Stock | Mind Solution, Inc., | ' | ' |
Consulting agreement terms | ' | ' |
The Company will pay Mind Solutions, Inc. four quarterly payments of $50,000 in restricted common stock of the Company. | ||
Common stock issued for consulting services, shares | ' | 39,583,333 |
Subsequent_Events_Narrative_De
Subsequent Events (Narrative) (Details) (USD $) | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 0 Months Ended | 2 Months Ended | 0 Months Ended | 2 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jul. 30, 2014 | Aug. 20, 2014 | Aug. 20, 2014 | Aug. 20, 2014 | Jul. 11, 2014 | Jul. 14, 2014 | Aug. 20, 2014 | |||
Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | ||||
Consultant for Services | Consultant for Services | Wayne Irving | Restricted Common Stock | Common Stock | Common Stock | Common Stock | Securities Exchange and Settlement Agreement with WHC Capital, LLC | Debt Purchase Agreement Entered on July 14, 2014 - Sojourn Investments, LP | Convertible Debt - Four Unrelated Third Parties | ||||||
Wayne Irving | Consultant for Services | Wayne Irving | Common Stock | ||||||||||||
Notes payable debt due to Jennifer Salwender | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,161 | ' | ' | ||
Face value of note payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,500 | ' | ||
Interest percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ||
Debt conversion terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
1 | 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. | ||||||||||||||
Debt purchase agreement purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ||
Additional common shares issued during period | ' | 510,108,831 | 26,136,087 | ' | ' | ' | ' | 419,187,882 | ' | ' | ' | ' | ' | ||
Stock issued for services, Shares | ' | ' | ' | 76,811,693 | 7,355,667 | ' | ' | ' | 10,776,198 | ' | ' | ' | ' | ||
Shares issued for conversion of debt | 190,425,090 | ' | 14,775,358 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 158,411,684 | ||
Debt conversion converted instrument reduction amount | ' | ' | 128,083 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,883 | ||
Accrued interest | ' | ' | 82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares issued for reduction of accrued payroll liability, shares | ' | ' | ' | ' | ' | 100,000,000 | 250,000,000 | ' | ' | 250,000,000 | ' | ' | ' | ||
Shares issued for reduction of accrued payroll liability, value | ' | ' | ' | ' | ' | $25,000 | $62,500 | ' | ' | $25,000 | ' | ' | ' |
Related_Party_Transactions_Not
Related Party Transactions (Notes Payable To Related Parties) (Narrative) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Aug. 08, 2013 |
Iconosys, Inc., | Iconosys, Inc., | Iconosys, Inc., | Agreement with Officer Company of Iconosys, Inc., | |||
Note Payable | Note Payable | Note Payable | Promissory Note | |||
Asset Purchase Agreement | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Notes payable to related party | $55,980 | $57,480 | ' | $13,250 | $13,250 | $45,000 |
Debt instrument description | ' | ' | ' | ' | ' | ' |
The note payable has terms of 0% interest and is payable on demand. | ||||||
Interest percent | ' | ' | ' | ' | ' | 4.00% |
Note maturity date | ' | ' | ' | ' | ' | 7-Aug-14 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 88 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Mar. 04, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Aug. 01, 2011 | Nov. 09, 2014 | Nov. 09, 2012 | Jun. 01, 2012 | Jun. 01, 2012 | Apr. 25, 2014 | Jun. 30, 2014 | |
Wayne Irving | Wayne Irving | Agreement with Officer Company of Iconosys, Inc., | Agreement with Officer Company of Iconosys, Inc., | Agreement with Officer Company of Iconosys, Inc., | Agreement with Officer Company of Iconosys, Inc., | Agreement with Officer Company of Iconosys, Inc., | Wayne Irving | Wayne Irving | Wayne Irving | CEO of Monster | CEO of Monster | Paul Gain | Paul West, Former Officer | Candor Homes Corporation - Subscription Agreement | Candor Homes Corporation - Subscription Agreement | |||||||
Master Purchase Agreement | Management Service Agreement with Iconosys | Management Service Agreement with Iconosys | Ad Shark, Inc., | Ad Shark, Inc., | Ad Shark, Inc., | Ad Shark, Inc., | Ad Shark, Inc., | Wayne Irving | Wayne Irving | |||||||||||||
Restricted Common Stock | Restricted Common Stock | |||||||||||||||||||||
Subscription agreement description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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. | ||||||||||||||||||||||
Equity interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53.00% | ' |
Commission revenues- related parties | ' | ' | ' | ' | $337,717 | ' | ' | ' | ' | ' | ' | $250 | $5,387 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit agreements with Iconosys | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' |
Line of credit description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
The line of credit agreement has terms of 4%, payable on demand. | ||||||||||||||||||||||
Loan receivable balance | 287,130 | ' | 287,130 | ' | 287,130 | 290,532 | ' | ' | 313,333 | 290,532 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest receivable | 21,083 | ' | 21,083 | ' | 21,083 | 15,577 | ' | ' | 18,341 | 15,577 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable to related party | 164,879 | ' | 164,879 | ' | 164,879 | 169,577 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 |
Shares received in exchange of advance owed to Iconosys | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15,046,078 shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description of shares received from Iconosys | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 June 30, 2014. | ||||||||||||||||||||||
Note payable interest | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' |
Loan from officer | 14,004 | ' | 14,004 | ' | 14,004 | 17,021 | 14,004 | 17,021 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Terms of employment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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. | ||||||||||||||||||||||
Accrued wages to officer | 19,468 | ' | 19,468 | ' | 19,468 | 67,586 | ' | ' | ' | ' | ' | ' | ' | 151,706 | 155,706 | ' | ' | ' | ' | ' | ' | ' |
Due from Iconosys | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | ' | ' | ' | ' |
Line of credit due from Iconosys | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 271,000 | ' | ' | ' | ' |
Due to Iconosys | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $75,000 | ' | ' | ' | ' |
Stock issued for services, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 1,500,000 | ' | ' |