Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Jun. 17, 2016 | Jun. 05, 2016 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | GREEN ENVIROTECH HOLDINGS CORP. | ||
Entity Central Index Key | 1,428,765 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filer | No | ||
Entity Current Reporting Status | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 1,606,255 | ||
Entity Common Stock, Shares Outstanding | 23,926,757 | ||
Trading Symbol | GETH | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,015 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
CURRENT ASSETS | ||
Cash | $ 8,076 | $ 7,227 |
Other current assets | 6,426 | 6,426 |
Total current assets | 14,502 | 13,653 |
TOTAL ASSETS | 14,502 | 13,653 |
CURRENT LIABILITIES | ||
Accounts payable | 641,371 | $ 575,417 |
Accounts payable-related party | 6,625 | |
Accrued expenses | 2,449,012 | $ 3,007,197 |
Secured debentures payable | 305,000 | 395,000 |
Loan payable - other | 594,082 | 454,982 |
Total current liabilities | 3,996,090 | 4,432,596 |
TOTAL LIABILITIES | $ 3,996,090 | $ 4,432,596 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Preferred stock, $0.001 par value, 25,000,000 shares authorized, 0 shares issued and outstanding | ||
Common stock, $0.001 par value, 250,000,000 shares authorized, 23,926,757 and 17,503,432 shares issued and outstanding | $ 23,927 | $ 17,503 |
Additional paid in capital | 16,589,838 | 15,447,308 |
Deficit accumulated during development stage | (20,595,353) | (19,883,754) |
Total stockholders' equity (deficit) | (3,981,588) | (4,418,943) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 14,502 | $ 13,653 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 23,926,757 | 17,503,432 |
Common stock, shares outstanding | 23,926,757 | 17,503,432 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING EXPENSES | ||
Wages and professional fees | $ 611,248 | $ 1,997,615 |
General and administrative | 79,145 | 366,416 |
Total operating expenses | 690,393 | 2,364,031 |
NET (LOSS) FROM OPERATIONS | 690,393 | 2,364,031 |
OTHER (INCOME) EXPENSES: | ||
Interest expense | 84,123 | $ 109,715 |
Vendor judgement award | $ 42,111 | |
(Gain) Loss on settlement of payable | $ 25,706 | |
(Gain) or Loss on debt conversion | $ 15,000 | $ 1,171,121 |
Territorial Licencee Fee-Plants | (120,028) | |
Total other (income) loss: | 21,206 | $ 1,306,542 |
NET (LOSS) | $ (711,599) | $ (3,670,573) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 20,422,966 | 11,025,066 |
NET (LOSS) PER SHARE | $ (0.03) | $ (0.33) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Deficit) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Dec. 31, 2013 | $ 5,905 | $ 11,009,932 | $ (16,213,181) | $ (5,197,344) | |
Balance, shares at Dec. 31, 2013 | 5,904,688 | ||||
Common shares issued for services | $ 680 | 251,815 | $ 252,495 | ||
Common shares issued for services, shares | 680,000 | 680,000 | |||
Common shares issued for services-related party | $ 1,910 | 633,950 | $ 635,860 | ||
Common shares issued for services-related party, shares | 1,910,000 | ||||
Conversion of notes payable & accrued salary related party to common shares | $ 821 | 820,287 | 821,108 | ||
Conversion of notes payable & accrued salary related party to common shares, shares | 821,108 | ||||
Conversion of accounts payable and accruals to common shares | $ 1,773 | 512,352 | 514,125 | ||
Conversion of accounts payable and accruals to common shares, shares | 1,773,620 | ||||
Conversion of notes payable to common shares | $ 6,299 | 960,955 | $ 967,254 | ||
Conversion of notes payable to common shares, shares | 6,299,016 | 6,299,016 | |||
Common shares issued as sweeteners for debt | $ 100 | 12,900 | $ 13,000 | ||
Common shares issued as sweeteners for debt. shares | 100,000 | ||||
Exercise of warrants | $ 15 | 14,985 | 15,000 | ||
Exercise of warrants, shares | 15,000 | ||||
Warrants issued to consultants for fees | 59,011 | 59,011 | |||
Loss on debt conversion | $ 1,171,121 | 1,171,121 | |||
Net loss | $ (3,670,573) | (3,670,573) | |||
Balance at Dec. 31, 2014 | $ 17,503 | $ 15,447,308 | $ (19,883,754) | $ (4,418,943) | |
Balance, shares at Dec. 31, 2014 | 17,503,432 | ||||
Common shares issued for services | |||||
Conversion of accounts payable and accruals to common shares | $ 1,299 | $ 54,876 | $ 56,175 | ||
Conversion of accounts payable and accruals to common shares, shares | 1,298,325 | ||||
Warrants issued to consultants for fees | |||||
Loss on debt conversion | $ 15,000 | $ 15,000 | |||
Common shares issued to related party for note conversion | $ 1,500 | $ 43,500 | $ 45,000 | ||
Common shares issued to related party for note conversion, shares | 1,500,000 | ||||
Common shares issued for related party accrued debt | $ 3,625 | $ 141,375 | $ 145,000 | ||
Common shares issued for related party accrued debt, shares | 3,625,000 | ||||
Agreed write off of accrued salary of an officer considered beneficial owner | $ 721,749 | $ 721,749 | |||
Gain on conversion of accounts payable | (6,529) | (6,529) | |||
Warrants issued for service | $ 172,559 | 172,559 | |||
Net loss | $ (711,599) | (711,599) | |||
Balance at Dec. 31, 2015 | $ 23,927 | $ 16,589,838 | $ (20,595,353) | $ (3,981,588) | |
Balance, shares at Dec. 31, 2015 | 23,926,757 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net (loss) | $ (711,599) | $ (3,670,573) |
Adjustments to reconcile net (loss) to net cash used in operating activities: | ||
Common stock issued for services | 252,495 | |
Common stock issued for services-related party | 635,860 | |
Common stock issued as sweetners for debt | 13,000 | |
Impairment expense | 33,333 | |
Loss on debt conversion | $ 15,000 | 1,171,121 |
(Gain) Loss on conversion of accounts payables and accruals | (6,529) | 122,349 |
Company liabilities paid direct | 2,400 | 19,510 |
Debt increase as a result of a consulting agreement | 60,000 | 60,000 |
Warrants issued for services | 172,559 | $ 59,011 |
Note and accrued interest extinguished for territorial licenses fees-plants | $ (95,028) | |
Change in assets and liabilities | ||
(Increase) in deposits and other current assets | $ 1,193 | |
Accounts payable-related party | $ 6,625 | |
Increase in accounts payable and accrued expenses | 435,721 | $ 1,049,043 |
Net cash (used in) operating activities | (120,851) | (253,658) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds received from loan payable - other | 121,700 | 170,700 |
Proceeds received from secured debentures | 90,000 | |
Net cash provided by financing activities | 121,700 | 260,700 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 849 | 7,042 |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 7,227 | 185 |
CASH AND CASH EQUIVALENTS - END OF PERIOD | $ 8,076 | $ 7,227 |
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES | ||
Common stock issued for subscriptions receivable | ||
Cash paid during the period for: | ||
Interest | ||
NON-CASH SUPPLEMENTAL INFORMATION: | ||
Conversion of loans payable for common stock | $ 967,254 | |
Exercise of warrants for accounts payable | 15,000 | |
Reclassify from accounts payable | 53,000 | |
Debt assigned to a third party | $ 70,000 | 445,000 |
Shares issued for accounts payable and accruals | 56,175 | 417,482 |
Conversion of related party debt for common stock | 190,000 | $ 821,108 |
Reclassify related party accrued salary relinguished | $ 721,749 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Basis of Presentation | NOTE 1- ORGANIZATION AND BASIS OF PRESENTATION Green EnviroTech Holdings Corp. (the Company) was incorporated on June 26, 2007 under the name Wolfe Creek Mining, Inc. under the laws of the State of Delaware. On November 20, 2009, the Company completed a reverse merger transaction pursuant to which it acquired Green EnviroTech Corp., a Nevada corporation. Wolfe Creek Mining, Inc. up until November 20, 2009 was primarily engaged in the acquisition and exploration of mining properties. Green EnviroTech Corp was incorporated on October 6, 2008 and was engaged in plastics recovery. The financial statements included herein are the financials of Green EnviroTech Holdings Corp. and subsidiary from October 6, 2008 to current. Green EnviroTech Holdings Corp. is an innovative pre revenue-stage technology company that has developed a high grade oil conversion process utilizing a mixture of plastic and tires earmarked for disposal. The GETH Process revolutionizes the recapture of waste tires and plastic and cleans up our landfills. The proprietary conversion process uses established pyrolysis technology with additional distillation applications. We have already received a contract from Conoco for the oil produced from our first plant. Going Concern These consolidated financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. For the year ended December 31, 2015, the Company had a net loss of $711,599. The Company also had a working capital deficit of $3,981,588 and it had accumulated a deficit of $20,595,353. Further losses are anticipated in the development of the Companys business of raising substantial doubt and its ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities when they come due from normal business operations. Management intends to finance operating costs over the next twelve months with loans and/or private placement of common stock. The continuation of the Company as a going concern is dependent upon the continued financial support from our shareholders and our ability to obtain necessary equity financing to continue toward funding our first operation. The Company has had very little operating history to date. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. These factors raise substantial doubt regarding its ability to continue as a going concern. Besides generating revenues from proposed operations, the Company may need to raise additional funds to expand operations to the point at which it can achieve profitability. The terms of new debt or equity that may be raised may not be on terms acceptable to the Company. If it fails to raise adequate funds from unrelated third parties, its officers and directors may need to contribute additional funds to sustain operations. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements include the accounts of the Company and its interest in Green EnviroTech CA1, LLC, joint venture, which had no operations for the year. Intercompany balances and transactions were eliminated between the Company and the joint venture. The Company owns 99% of the Joint Venture. There is no specific operational use for the Joint Venture at present. Reclassification-Certain reclassifications have been made to the prior periods financial statements to conform to the current periods presentation. Use of Estimates The preparation of consolidated 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 disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We consider cash equivalents when purchased to be all highly liquid debt instruments and other short-term investments with maturity of three months or less. We maintain cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation. We do not have any cash equivalents as of December 31, 2015 and 2014, respectively. Fixed Assets Fixed assets are stated at cost, less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the related assets. Costs of maintenance and repairs will be charged to expense as incurred. Recoverability of Long-Lived Assets We will review long-lived assets on a periodic basis whenever events and changes in circumstances have occurred which may indicate a possible impairment. The assessment for potential impairment will be based primarily on our ability to recover the carrying value of our long-lived assets from expected future cash flows from our operations on an undiscounted basis. If such assets are determined to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the fair value of the assets. Fixed assets to be disposed of by sale will be carried at the lower of the then current carrying value or fair value less estimated costs to sell. Income Taxes We account for income taxes in accordance with Accounting Standards Codification (ASC) 740, Income Taxes A valuation allowance is established when, based on an evaluation of objective verifiable evidence, it is more likely than not that some portion or all of deferred tax assets will not be realized. ASC 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken or expected to be taken on a tax return. Under ASC 740-10, a tax benefit from an uncertain tax position taken or expected to be taken may be recognized only if it is more likely than not that the position is sustainable upon examination, based on its technical merits. The tax benefit of a qualifying position under ASC 740-10 would equal the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority having full knowledge of all the relevant information. A liability (including interest and penalties, if applicable) is established to the extent a current benefit has been recognized on a tax return for matters that are considered contingent upon the outcome of an uncertain tax position. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable. As of January 1, 2016, we have analyzed filing positions in each of the federal and state jurisdictions where we are required to file income tax returns, as well as all open tax years in these jurisdictions. We have identified the U.S. federal and California as our major tax jurisdictions. Generally, we remain subject to Internal Revenue Service examination of our 2009 through 2015 California Franchise Tax Returns. However, we have certain tax attribute carry forwards, which will remain subject to review and adjustment by the relevant tax authorities until the statute of limitations closes with respect to the year in which such attributes are utilized. We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our financial position. Therefore, no reserves for uncertain income tax position have been recorded pursuant to ASC 740. In addition, we did not record a cumulative effect adjustment related to the adoption of ASC 740. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable. (Loss) Per Share of Common Stock We follow ASC 260, Earnings per Share tock equivalents from warrants in the amount of 3,012,800 shares at December 31, 2015 were not included in the computation of diluted earnings per share. We are reporting a loss, to include stock equivalents would be anti-dilutive for periods presented. Intangible Assets ASC 350 requires that intangible assets with finite useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC 360, Accounting for the Impairment or Disposal of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of. Our assessment for impairment of assets involves estimating the undiscounted cash flows expected to result from use of the asset and its eventual disposition. An impairment loss recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset, and considers year-end the date for its annual impairment testing, unless information during the year becomes available that requires an earlier evaluation of impairment testing. We had no impairment charges for the year ended December 31, 2015. For the ended December 31, 2014, we incurred impairment charges in the amount of $33,333 when we wrote off the engineering costs in the amount of $30,833 which were associated with the building permits for a plant to be built in San Francisco. The building permits would expire before funding of the plant could be consummated. We also wrote down a Sniff Machine used for detecting vapors and odors to fair market value. The write down was for $2,500. Stock-Based Awards ASC 718 Compensation Stock Compensation We account for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, Equity Based Payments to Non-Employees. We measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the grant-date fair value of the award and recognizes it as compensation expense over the period the employee is required to provide service in exchange for the award, usually the vesting period. We estimate the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in our statement of operations. The forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the fiscal periods ended December 31, 2015 and 2014, we estimated our forfeiture rate to be 0% based on the Companys historical experience. There were 0 stock options granted to employees during the years ended December 31, 2015 and 2014. During the fiscal periods ended December 31, 2015 and 2014, we granted common stock warrants to investors, lenders, consultants and certain officers as discussed in Note 3. The fair value of stock warrants issued in conjunction with the sale of common stock is recorded against common stock as stock issuance cost. The fair value of stock warrants issued in conjunction with notes payable is recognized as a discount on the related debt and amortized to interest expense over the term to maturity. The fair value of stock-based awards to consultants, employees and directors is calculated using the Black-Scholes-Merton pricing model. The Black-Scholes-Merton model requires subjective assumptions regarding future stock price volatility and expected time to exercise, which greatly affect the calculated values. The expected term of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior. The risk-free rate selected to value any particular grant is based on the U.S. Treasury rate that corresponds to the pricing term of the grant effective as of the date of the grant. The expected volatility is based on the historical volatility of the common stock of comparable publicly traded companies. In making this determination and finding another similar company, we have considered the industry, stage of life cycle, size and financial leverage of such other entities. These factors could change in the future, affecting the determination of stock-based compensation expense in future periods. Fair Value Measurements We have adopted certain provisions of ASC Topic 820. ASC 820 defines fair value, provides a consistent framework for measuring fair value under generally accepted accounting principles and expands fair value financial statement disclosure requirements. ASC 820s valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. ASC 820 classifies these inputs into the following hierarchy: ● Level 1 inputs: Quoted prices for identical instruments in active markets. ● Level 2 inputs: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. ● Level 3 inputs: Instruments with primarily unobservable value drivers. Recently Issued Accounting Standards There were recently issued updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our financial position, results of operations or cash flows. |
Stockholders' Equity (Deficit)
Stockholders' Equity (Deficit) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Stockholders' Equity (Deficit) | NOTE 3- STOCKHOLDERS EQUITY (DEFICIT) Preferred Stock The Company has 25,000,000 preferred shares of $0.001 par value stock authorized. The Company has no preferred stock issued and outstanding. Common Stock The Company has 250,000,000 common shares of $0.001 par value stock authorized. On December 31, 2015, we had 23,926,757 common shares outstanding as compared to 17,503,432 common shares outstanding on December 31, 2014. Warrants The Company uses the Black-Scholes option pricing model in valuing options and warrants. The inputs for the valuation analysis of the options and warrants include the market value of the Companys common stock, the estimated volatility of the Companys common stock, the exercise price and the risk free interest rate. The key inputs in determining grant date fair value are as follows: Period Ended December 31, 2015 2014 Risk-free interest rate 1.25 % 1.25 % Dividend yield 0.00 % 0.00 % Expected volatility 110.24 % 110.24 % Expected term (in years) 5.0 5.0 Weighted average grant date fair value of warrants granted during the period $ 0.12 $ 0.34 The following table presents the warrant activity during 2015 and 2014: Weighted Average Warrants Exercise Price Outstanding - December 31, 2013 19,519 $ 5.64 Granted-Oct 10, 2014 650,000 $ 0.10 Forfeited/canceled - - Exercised-Feb 19, 2014 (15,000 ) $ (1.00 ) Exercisable as of December 31, 2014 394,519 $ 0.34 Outstanding - December 31, 2014 654,519 $ 0.24 Granted-Jan 1, 2015 3,000,000 $ 0.10 Granted-Feb 20, 2015 875,171 $ 0.08 Granted-Feb 24, 2015 875,171 $ 0.08 Exercisable as of December 31, 2015 3,012,800 $ 0.12 Outstanding - December 31, 2015 5,404,861 $ 0.09 The weighted average remaining life of the outstanding common stock warrants as of December 31, 2015and 2014 was 4.52 and 4.75 years. The aggregate intrinsic value of the outstanding common stock warrants as of December 31, 2015 and 2014 was $0 for both years. During the year ended December 31, 2014: ● the Company issued 680,000 common shares for services valued at $252,495 and additional 1,910,000 common shares for services valued at $635,860 were issued to related parties. ● the Company issued 6,299,016 common shares to convert $967,254 of principal and interest on notes payable into equity, ● the Company issued 650,000 common stock warrants to an attorney, the warrants convert within 5 years of issuance $0.10 per warrant. 130,000 warrants vested when issued and 130,000 vested the 10th of the following four months after issue date. These warrants were valued at $59,011 at December 31, 2014 by the Black-Sholes method. ● the Company issued 821,108 shares valued at $821,108 to a related party for accrued salary and conversion of note payable, 42,871 of these shares were issued to the CEO for the payoff of his note with a principal balance of $12,287 and accrued interest of $30,584 ● the Company issued 1,773,620 common shares to convert $417,482 of accounts payable and accruals which resulted in an operating loss of $96,643. ● the Company issued 100,000 shares as a sweetener for debt holders valued at $13,000. ● the Company issued 15,000 common shares valued at $15,000 to convert warrants. The transaction converted $15,000 in payables. ● the Company recognized a loss on conversion of debt in the amount of $1,171,121. During the year ended December 31, 2015: ● the Company issued 1,500,000 common shares to a related party for a note conversion in the amount of $45,000. ● the Company issued 1,298,325 common shares to convert $56,175 of accounts payable and accruals. There was a gain of $6,529 on the transactions. ● the Company issued 1,500,000 common stock warrants to an engineer in January 2015. These warrants convert within 5 years of issuance $0.10 per warrant. 62,500 warrants vest monthly starting the month after issuance. There were 687,500 warrants fully vested at the end of the year. These warrants were valued at $34,926 at December 31, 2015 by the Black-Sholes method. ● the Company issued 1,500,000 common stock warrants to a consultant in January 2015. These warrants convert within 5 years of issuance $0.10 per warrant. All of these warrants vest on February 1, 2016. These warrants were valued at $27,588 at December 31, 2015 by the Black-Sholes method. ● the Company issued 875,171 common stock warrants to the engineer in February 2015. These warrants convert within 5 years of issuance $0.08 per warrant. 79,561 warrants vest monthly starting the month after issuance. There were 795,610 warrants fully vested at the end of the year. These warrants were valued at $36,766 at December 31, 2015 by the Black-Sholes method. ● the Company issued 875,171 common stock warrants to an attorney, the warrants convert within 5 years of issuance $0.08 per warrant. 175,034 warrants vested when issued and 175,034 vested the next four months after issue date. These warrants were totally vested and valued at $46,189 at December 31, 2015 by the Black-Sholes method. ● the Company issued 650,000 warrants in October of 2014 to an attorney, 390,000 of these warrants vested in 2014 and were valued at $59,011. The 260,000 remaining warrants vested in 2015 and were valued at $27,090 by the Black-Sholes method. ● the Company issued 3,625,000 common shares to a related party to convert $145,000 in accrued salary. On January 30, 2015, in conjunction with the execution of the agreement between us and Cenco Leasing Company, Inc. (Cenco), see note 8. we entered into a mutual release agreement with a former employee who claimed to have certain technology rights of the Company. It was agreed wherein the employee would release to the company any claim to any and all rights to certain technology concerning the pyrolysis and refining of certain materials into oil. Included in the agreement was a provision in which the former employee would forfeit all of their accrued salary in the amount of $721,749 the Company was carrying as a liability to the former employee. The Company will recognize an equity adjustment from the write off of the accrued salary. In exchange for the forfeiture of the accrued salary, Cenco had entered into a separate agreement with the former employee wherein the former employee would receive certain licensed territorial rights given to Cenco. |
Loan Payable - Related Party
Loan Payable - Related Party | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Loan Payable - Related Party | NOTE 4- LOAN PAYABLE RELATED PARTY The Company had an unsecured, loan payable in the form of a line of credit with its CEO. The CEO had provided a line of credit up to $1,000,000 at 4% interest per annum to the Company to cover various expenses and working capital infusions until the Company received sufficient other funding. This loan was extended to December 31, 2015. The loan was paid in full when it was converted on April 16, 2014 by issuing 42,871 shares of restricted common stock of the Company at a conversion rate of $1.00 per share The shares represented $12,287 of principal and $30,584 of accrued interest. |
Loan Payable - Other
Loan Payable - Other | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Loan Payable - Other | NOTE 5- LOAN PAYABLE OTHER The Company at the beginning of the year 2015 had a Line of Credit with H. E. Capital, S. A. This Line of Credit accrues interest at the rate of 8% per annum. The due date of the loan was extended to December 31, 2016. Balance of the loan at December 31, 2015 was $241,582 with accrued interest in the amount of $99,719 as compared to $127,482 with accrued interest in the amount of $85,031 for the year ended December 31, 2014 History of the H. E. Capital loans is as follows: December 31, 2015 December 31, 2014 Beginning Balance $ 127,482 $ 616,772 Proceeds 121,700 170,700 Vendors paid direct on behalf of the Company 2,400 19,510 Reclassification from accounts payable - 53,000 Consulting fees 60,000 60,000 Assignments (70,000 ) (445,000 ) Non-cash conversion - (347,500 ) Ending Balance $ 241,582 $ 127,482 The Company on February 25, 2010 issued a promissory note to an individual in the amount of $20,000 at 10% interest due on demand. This interest rate was increased to 12% beginning in 2012. The Company repaid $10,000 of this note on August 10, 2010. The Company also repaid $2,500 of this note on April 13, 2011. The note is extended to December 31, 2016. As of December 31, 2015 and 2014 the loan has an outstanding balance of $7,500 and accrued interest in the amount of $5,857 and $4,957, respectively. The Company issued a promissory note on November 15, 2012 to an individual in the amount of $170,000 at 8% interest. The note was extended to December 31, 2016. The Company used the funds to pay off the convertible notes held by Asher Enterprise, Inc. As of December 31, 2015 and 2014 the loan has an outstanding balance of $170,000 and accrued interest in the amount of $42,514 and $28,914 respectively. The Company issued a promissory note on March 19, 2013 to an individual in the amount of $150,000 at 8% interest due on March 18, 2014. This note is extended to December 31, 2016. The Company used the funds for working capital. As of December 31, 2015 and 2014 the loan has an outstanding balance of $150,000 and accrued interest in the amount of $34,356 and 19,356 respectively. The Company issued a promissory note in the amount of $171,300 on October 1, 2013 to a vendor in exchange for converting accounts payable. The note accrues interest at 8% and is due on September 30, 2014. As of December 31, 2013 this note had an outstanding balance of $171,300 and accrued interest in the amount of $3,454. On February 18, 2014, the note was converted into 685,200 shares of common stock. There was a conversion loss in the amount of $246,672. During the fourth quarter 2014, the Company was faced with satisfying a disputed obligation with one of its vendors by issuing 150,000 free trading shares of the Company. The debt had not matured for the amount of time required for the obligation to receive free trading shares. In order to satisfy the debt, the Company entered into an agreement with H. E. Capital, S.A. to convert $30,000 of its Line of Credit Note with the Company into 150,000 free trading shares of the Company. H. E. Capital S.A. converted the required portion of its debt from the Company into the shares needed and issued 25,000 free trading shares in December 2014 and the balance of 125,000 free trading shares in February 2015. The Company was contingently liable for the vendor debt on December 31, 2014 and until it was totally satisfied in February 2015. The Company incurred an operating loss of $25,706 as a result of the transaction in 2014. On May 18, 2015, we approved the Debt Assignment Agreement dated 5/18/2015 between H.E. Capital S.A. (HEC) and Valuecorp Trading Company. We also approved the Debt Settlement Agreement dated 5/19/2015 between the Company and Valuecorp Trading Company. We will issue 833,333 shares of common stock to Valuecorp Trading Company at $0.03 per share to satisfy $25,000 of the debt dated 12/3/2010. However, on June 8, 2015 Valuecorp only paid $12,500 of the assignment to HEC and a note was issued to Valuecorp in the amount of $12,500 and HEC letter of credit note was reduced by the same amount. It is approved for Valuecorp to receive only 416,667 shares of the Companys common stock for the conversion of its $12,500 note when presented to the Company for conversion. To date, this note has not been presented. This note was outstanding at December 31, 2015 with $567 in accrued interest. On December 29, 2015, we approved H.E. Capital S.A.s (HEC) request to assign to a private individual $12,500 of its Line of Credit Note. This approval was requested to fulfill the $25,000 assignment to Valuecorp Trading Company requested and approved on May 18, 2016, but Valuecorp only paid H.E. Capital $12,500. We approved the conversion of the $12,500 into shares of the Companys common stock at the rate of $0.03 per share. When completed the conversion would be a total of 416,667 shares of free trading stock and the HEC Line of Credit Note will be reduced by $12,500. We issued to the individual a note in the amount of $12,500 and reduced the HEC Line of Credit Note by the same amount. To date these shares have not been issued. This note was outstanding at December 31, 2015 with $8 in accrued interest. |
Secured Debentures
Secured Debentures | 12 Months Ended |
Dec. 31, 2015 | |
Secured Debt [Abstract] | |
Secured Debentures | NOTE 6- SECURED DEBENTURES On January 24, 2011, the Company entered into a series of securities purchase agreements with accredited investors (the Investors), pursuant to which the Company sold an aggregate of $380,000 in 12% secured debentures (the Debentures). Legend Securities, Inc. a broker dealer which is a member of FINRA, received a commission of $45,600 and 19,000 warrants at an exercise price of $0.40 in connection with the sale of the Debentures. The Debentures were initially due at the earlier of 6 months from the date of issuance or upon the Company receiving gross proceeds from subsequent financings in the aggregate amount of $1,000,000. The Debentures bear interest at the rate of 12% per annum, payable upon maturity. The Debentures are secured by the assets of the Company pursuant to security agreements entered into between the Company and the Investors. As a result of the 1 for 100 reverse common stock split on March 27, 2013, the warrants issued to Legend Securities, Inc. are exercisable for 190 common shares at a price of $40.00 per share. The Company also issued to the Investors on January 24, 2011 five-year warrants to purchase an aggregate of 190,000 shares of common stock at an exercise price of $0.40, which may be exercised on a cashless basis. As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,900 common shares at a price of $40.00 per share. On February 2, 2012, the Company issued 10,001 shares of common stock valued at $30,000 to the Secured Debenture Holders for extending the maturity date of the debentures to September 24, 2012. The Company by direction of Legend Securities, Inc. also issued to the holders of the Secured Debentures five-year warrants to purchase 100,000 shares of common stock at an exercise price of $0.10 per share which said warrants were originally issued to certain employees of Legend Securities, Inc. per a previous Legend Agreement. The warrants were issued to the holders of the Secured Debentures simultaneously with the issuance of the above mentioned stock and were valued at $2,998. As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,000 common shares at a price of $10.00 per share. The balance of these Debentures on December 31, 2015 and 2014 was $305,000. The accrued interest for the years ended December 31, 2015 and 2014 were $200,010 and $162,902 respectively. These notes are in negotiation for extension. The Company entered into two new note agreements with Cenco Leasing Company during the second quarter of 2014 and these notes were secured by the assets of the Company and common stock of the Company. Both notes are for one year at 8% interest. The first note was issued on May 5, 2014 for $50,000 and the second note was issued on June 2, 2014 for $40,000. These notes were satisfied on January 30, 2015 in the Cenco licenses agreement. Please refer to the commitment note 8. |
Provision for Income Taxes
Provision for Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Taxes | NOTE 7- PROVISION FOR INCOME TAXES Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Companys assets and liabilities. Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Companys tax return. Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. Availability of loss usage is subject to change of ownership limitations under Internal Revenue Code 382. Net Deferred Tax Assets consisted of the following components as of December 31, 2015 and 2014: 2015 2014 Deferred Tax Assets: NOL Carryover Tax Advantage $ 3,479,500 $ 3,394,400 Valuation allowance (3,479,500 ) (3,394,400 ) $ - $ - The income tax provision differs from the amount of income tax determined by applying the U.S. Federal Income tax rate to pretax income from continuing operations for the years ended December 31, 2015 and 2014. At December 31, 2015, the Company had a net operating loss carry forward in the amount of approximately $10,234,000 available to offset future taxable income through 2033. The Company established valuation allowances equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | NOTE 8- COMMITMENTS During 2013, the Company entered into an agreement with Black Lion Oil Limited (Black Lion) whose primary focus is on emerging energy technology with broad applications. Under the agreement, the Company granted to Black Lion exclusive rights to the waste to oil process in specific territories outside of the United States. In return Black Lion paid $100,000 in cash to the Company as a fee and agreed to pay the Company royalties amounting to ten percent (10.0%) of Black Lions gross sales. The Company used the fee for working capital. As of December 31, 2015, Black Lion has not opened its first plant. On June 1, 2013 the Company signed a three-year lease for office space and opened its corporate offices in Oakdale, CA. The office was staffed by the CEO, COO and two office personnel. The office space was approximately 3,300 sq. ft. The lease calls for lease payments in the amount of $3,300 per month the first year, $3,738 per month the 2 nd rd The Company on September 30, 2014 settled a claim in New York courts from a vendor for unpaid fees, MicroCap vs Green EnviroTech, by agreeing to deliver 25,000 shares a month for six months to the plaintiff. All the shares were delivered. On or about June 18, 2015, Microcap asked the court for a judgment alleging a default of the stipulation of settlement. Microcaps position was that what was delivered was unsellable as the Company had not made timely filings of its Securities and Exchange Commission filings. The Company filed a Statement in opposition on June 23, 2015. On June 29, 2015, the Court entered a judgment in the amount of $42,111 in favor of Microcap. The Company recorded the judgment as a liability. The Company has the right to appeal this judgment for a period of one year from the date of judgment and is reserving its right to appeal. On January 30, 2015, the Company entered into a license agreement with Cenco Leasing Company, Inc. (Cenco) wherein the Company has given exclusive license rights to Cenco for the states of California, Oklahoma, Kansas, Arkansas, Nebraska, Missouri, Colorado, North Dakota, South Dakota, Iowa, New Mexico, Nevada, Utah and the entire country of Mexico. The agreement gives exclusive rights to Cenco to utilize certain technology of the Company to design, construct, own and operate pyrolysis and refining plants in the above defined territories. The agreement calls for Cenco over certain periods of time as detailed in the agreement to construct plants in these territories. The agreement also calls for Cenco to pay royalties from the revenues generated from these plants. Such royalties in some states are calculated at a three percent (3%) rate and other states at a five and one half percent (5.5%). As part of the agreement, the two notes to Cenco in the amount of $90,000 with accrued interest in the amount of $5,028 were returned to us. Cenco also paid us an additional $25,000 as a license fee for another state. The total amount of $120,028 was recorded in the statement of operations as a territorial license fee. On June 12, 2015, the Company and Cenco Leasing Company, Inc. agreed to an extension to the performance clause in the agreement between the Company and Cenco dated January 30, 2015 by executing an amendment to that agreement. The original agreement called for Cenco to demonstrate to the Company that it had obtained funding in the amount of $2,800,000 on or before June 30, 2015. The performance date was extended to July 31, 2015 in the amendment. The amendment also provided the failure to demonstrate the benchmark dollar amount by the extended due date, the territorial exclusivity rights in the original agreement would be lost. It was agreed in the amendment for Cenco to assign all of its rights and obligations in the license agreement to GEN2 WTE, LLC. (GEN2). Neither Cenco nor GEN2 performed before the extension due date. The exclusive right was lost for non-performance. On May 13, 2015, we agreed with EraStar, one of our vendors, to resolve the outstanding balance of $120,000 owed to EraStar by us for an amount of $20,000 or issue 20,000 free trading shares on or before 12/30/15. The due date for the issue of the free trading shares was extended to December 31, 2016. On October 1, 2015, the Company and EraStar agreed to an amendment to the May 13, 2015 Settlement Agreement. The amendment was requested by EraStar in order for EraStar to assign all of its 350,000 shares it is currently holding including the 20,000 shares we will issue to settle the payable. EraStar will turn in the shares it is currently holding and we will issue a total of 370,000 shares to EraStars assignee on or before December 31, 2016. On July 1, 2015, we accepted a 98% interest in a California Limited Liability Company which will operate as a partnership. We previously owned 1% of the LLC, but will now own 99%. The Companys CEO previously owned 99%, but will now retain 1% ownership. The purpose of the LLC is for future operational purposes. To date there are no operating activities in the LLC. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 9- SUBSEQUENT EVENTS During the first quarter 2016, the Company issued 1,500,000 warrants to another consultant for Companys stock at $0.10 per share for services rendered for the past eighteen months. These warrants fully vested on the date of issuance. During the first quarter of 2016, the Company issued a Note Payable to an individual in the amount of $134,000 at an interest rate of eight percent (8%). for the amount the individual wired into the Company account. The Company forwarded these funds to a third party company for a promissory note for the same amount at eight percent (8%). The funds are intended for the use of the third party company. The Company intends to be a majority owner of this third party company in the future by issuing licensing agreements for the use of our technology. In March 2016, we requested and the third party company agreed to be totally responsible for the $134,000 note to the individual and the note was assigned and accepted by the third party company with the individual note holders approval. On May 18, 2016, the Company issued an eight percent (8%) Note Payable to a private company for the $53,500 funds it received on the same date. These funds were used for working capital. This note was paid in full on June 2, 2016 from an increase in the line of credit from H. E. Capital, S.A. |
Summary of Significant Accoun16
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its interest in Green EnviroTech CA1, LLC, joint venture, which had no operations for the year. Intercompany balances and transactions were eliminated between the Company and the joint venture. The Company owns 99% of the Joint Venture. There is no specific operational use for the Joint Venture at present. Reclassification-Certain reclassifications have been made to the prior periods financial statements to conform to the current periods presentation. |
Use of Estimates | Use of Estimates The preparation of consolidated 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 disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents We consider cash equivalents when purchased to be all highly liquid debt instruments and other short-term investments with maturity of three months or less. We maintain cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation. We do not have any cash equivalents as of December 31, 2015 and 2014, respectively. |
Fixed Assets | Fixed Assets Fixed assets are stated at cost, less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the related assets. Costs of maintenance and repairs will be charged to expense as incurred. |
Recoverability of Long-Lived Assets | Recoverability of Long-Lived Assets We will review long-lived assets on a periodic basis whenever events and changes in circumstances have occurred which may indicate a possible impairment. The assessment for potential impairment will be based primarily on our ability to recover the carrying value of our long-lived assets from expected future cash flows from our operations on an undiscounted basis. If such assets are determined to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the fair value of the assets. Fixed assets to be disposed of by sale will be carried at the lower of the then current carrying value or fair value less estimated costs to sell. |
Income Taxes | Income Taxes We account for income taxes in accordance with Accounting Standards Codification (ASC) 740, Income Taxes A valuation allowance is established when, based on an evaluation of objective verifiable evidence, it is more likely than not that some portion or all of deferred tax assets will not be realized. ASC 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken or expected to be taken on a tax return. Under ASC 740-10, a tax benefit from an uncertain tax position taken or expected to be taken may be recognized only if it is more likely than not that the position is sustainable upon examination, based on its technical merits. The tax benefit of a qualifying position under ASC 740-10 would equal the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority having full knowledge of all the relevant information. A liability (including interest and penalties, if applicable) is established to the extent a current benefit has been recognized on a tax return for matters that are considered contingent upon the outcome of an uncertain tax position. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable. As of January 1, 2016, we have analyzed filing positions in each of the federal and state jurisdictions where we are required to file income tax returns, as well as all open tax years in these jurisdictions. We have identified the U.S. federal and California as our major tax jurisdictions. Generally, we remain subject to Internal Revenue Service examination of our 2009 through 2015 California Franchise Tax Returns. However, we have certain tax attribute carry forwards, which will remain subject to review and adjustment by the relevant tax authorities until the statute of limitations closes with respect to the year in which such attributes are utilized. We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our financial position. Therefore, no reserves for uncertain income tax position have been recorded pursuant to ASC 740. In addition, we did not record a cumulative effect adjustment related to the adoption of ASC 740. Related interest and penalties, if any, are included as components of income tax expense and income taxes payable. |
(Loss) Per Share of Common Stock | (Loss) Per Share of Common Stock We follow ASC 260, Earnings per Share tock equivalents from warrants in the amount of 3,012,800 shares at December 31, 2015 were not included in the computation of diluted earnings per share. We are reporting a loss, to include stock equivalents would be anti-dilutive for periods presented. |
Intangible Assets | Intangible Assets ASC 350 requires that intangible assets with finite useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC 360, Accounting for the Impairment or Disposal of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of. Our assessment for impairment of assets involves estimating the undiscounted cash flows expected to result from use of the asset and its eventual disposition. An impairment loss recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset, and considers year-end the date for its annual impairment testing, unless information during the year becomes available that requires an earlier evaluation of impairment testing. We had no impairment charges for the year ended December 31, 2015. For the ended December 31, 2014, we incurred impairment charges in the amount of $33,333 when we wrote off the engineering costs in the amount of $30,833 which were associated with the building permits for a plant to be built in San Francisco. The building permits would expire before funding of the plant could be consummated. We also wrote down a Sniff Machine used for detecting vapors and odors to fair market value. The write down was for $2,500. |
Stock-Based Awards | Stock-Based Awards ASC 718 Compensation Stock Compensation We account for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, Equity Based Payments to Non-Employees. We measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the grant-date fair value of the award and recognizes it as compensation expense over the period the employee is required to provide service in exchange for the award, usually the vesting period. We estimate the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in our statement of operations. The forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the fiscal periods ended December 31, 2015 and 2014, we estimated our forfeiture rate to be 0% based on the Companys historical experience. There were 0 stock options granted to employees during the years ended December 31, 2015 and 2014. During the fiscal periods ended December 31, 2015 and 2014, we granted common stock warrants to investors, lenders, consultants and certain officers as discussed in Note 3. The fair value of stock warrants issued in conjunction with the sale of common stock is recorded against common stock as stock issuance cost. The fair value of stock warrants issued in conjunction with notes payable is recognized as a discount on the related debt and amortized to interest expense over the term to maturity. The fair value of stock-based awards to consultants, employees and directors is calculated using the Black-Scholes-Merton pricing model. The Black-Scholes-Merton model requires subjective assumptions regarding future stock price volatility and expected time to exercise, which greatly affect the calculated values. The expected term of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior. The risk-free rate selected to value any particular grant is based on the U.S. Treasury rate that corresponds to the pricing term of the grant effective as of the date of the grant. The expected volatility is based on the historical volatility of the common stock of comparable publicly traded companies. In making this determination and finding another similar company, we have considered the industry, stage of life cycle, size and financial leverage of such other entities. These factors could change in the future, affecting the determination of stock-based compensation expense in future periods. |
Fair Value Measurements | Fair Value Measurements We have adopted certain provisions of ASC Topic 820. ASC 820 defines fair value, provides a consistent framework for measuring fair value under generally accepted accounting principles and expands fair value financial statement disclosure requirements. ASC 820s valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. ASC 820 classifies these inputs into the following hierarchy: ● Level 1 inputs: Quoted prices for identical instruments in active markets. ● Level 2 inputs: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. ● Level 3 inputs: Instruments with primarily unobservable value drivers. |
Recently Issued Accounting Standards | Recently Issued Accounting Standards There were recently issued updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our financial position, results of operations or cash flows. |
Stockholders' Equity (Deficit)
Stockholders' Equity (Deficit) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Schedule of Assumptions Used to Value Warrants | The key inputs in determining grant date fair value are as follows: Period Ended December 31, 2015 2014 Risk-free interest rate 1.25 % 1.25 % Dividend yield 0.00 % 0.00 % Expected volatility 110.24 % 110.24 % Expected term (in years) 5.0 5.0 Weighted average grant date fair value of warrants granted during the period $ 0.12 $ 0.34 |
Schedule of Warrants | The following table presents the warrant activity during 2015 and 2014: Weighted Average Warrants Exercise Price Outstanding - December 31, 2013 19,519 $ 5.64 Granted-Oct 10, 2014 650,000 $ 0.10 Forfeited/canceled - - Exercised-Feb 19, 2014 (15,000 ) $ (1.00 ) Exercisable as of December 31, 2014 394,519 $ 0.34 Outstanding - December 31, 2014 654,519 $ 0.24 Granted-Jan 1, 2015 3,000,000 $ 0.10 Granted-Feb 20, 2015 875,171 $ 0.08 Granted-Feb 24, 2015 875,171 $ 0.08 Exercisable as of December 31, 2015 3,012,800 $ 0.12 Outstanding - December 31, 2015 5,404,861 $ 0.09 |
Loan Payable - Other (Tables)
Loan Payable - Other (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of H E Capital Loans Activity | History of the H. E. Capital loans is as follows: December 31, 2015 December 31, 2014 Beginning Balance $ 127,482 $ 616,772 Proceeds 121,700 170,700 Vendors paid direct on behalf of the Company 2,400 19,510 Reclassification from accounts payable - 53,000 Consulting fees 60,000 60,000 Assignments (70,000 ) (445,000 ) Non-cash conversion - (347,500 ) Ending Balance $ 241,582 $ 127,482 |
Provision for Income Taxes (Tab
Provision for Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Net Deferred Tax Assets | Net Deferred Tax Assets consisted of the following components as of December 31, 2015 and 2014: 2015 2014 Deferred Tax Assets: NOL Carryover Tax Advantage $ 3,479,500 $ 3,394,400 Valuation allowance (3,479,500 ) (3,394,400 ) $ - $ - |
Organization and Basis of Pre20
Organization and Basis of Presentation (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net loss | $ 711,599 | $ 3,670,573 |
Working capital deficit | 3,981,588 | |
Accumulated deficit | $ 20,595,353 | $ 19,883,754 |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Percetnage of joint venture owned | 99.00% | |
Cash equivalents | ||
Impairment charges wrote off | ||
Impairment charges | $ 33,333 | |
Wrote off the engineering costs | $ 30,833 | |
Tax benefit that is greater than percentage | 50.00% | |
Estimated forfeiture rate | 0.00% | |
Number of stock option granted | 0 | 0 |
Sniff Machine [Member] | ||
Impairment charges | $ 2,500 |
Stockholders' Equity (Deficit22
Stockholders' Equity (Deficit) (Details Narrative) - USD ($) | Feb. 02, 2015 | Jan. 02, 2015 | Oct. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 |
Preferred stock, par value | $ 0.001 | $ 0.001 | |||
Preferred stock, shares authorized | 25,000,000 | 25,000,000 | |||
Preferred stock, shares issued | 0 | 0 | |||
Preferred stock, shares outstanding | 0 | 0 | |||
Common stock, shares authorized | 250,000,000 | 250,000,000 | |||
Common stock, par value per share | $ 0.001 | $ 0.001 | |||
Common stock, shares outstanding | 23,926,757 | 17,503,432 | |||
Stock issued for services, shares | 680,000 | ||||
Stock issued for services | $ 252,495 | ||||
Issuance of common stock shares to converted of principal and interest on note payable into equity | 6,299,016 | ||||
Issuance of common stock value to converted of principal and interest on note payable into equity | $ 967,254 | ||||
Number of warrants vested | 260,000 | 59,011 | |||
Warrant expences | $ 172,559 | $ 59,011 | |||
Issuance of common stock shares convert of accounts payable and accruals | 1,298,325 | 1,773,620 | |||
Issuance of common stock convert of accounts payable and accruals | $ 56,175 | $ 417,482 | |||
Gain loss on accounts payable and accruals | 6,529 | $ 96,643 | |||
Number of common stock shares issued as sweetener for debtholders | 100,000 | ||||
Number of common stock value issued as sweetener for debtholders | $ 13,000 | ||||
Issuance of common stock shares to convert warrants | 15,000 | ||||
Issuance of common stock value to convert warrants | 27,090 | $ 15,000 | |||
Notes payable | 15,000 | ||||
Loss on conversion of debt | (15,000) | $ (1,171,121) | |||
Reclass related party accrued salary relinguished | $ 721,749 | ||||
Chief Executive Officer [Member] | |||||
Issuance of common stock shares to converted of principal and interest on note payable into equity | 42,871 | ||||
Issuance of common stock value to converted of principal and interest on note payable into equity | $ 12,287 | ||||
Number of common stock shares issued for accrued salary | 821,108 | ||||
Number of common stock issued for accrued salary | $ 821,108 | ||||
Accrued interest | $ 30,584 | ||||
Related Parties [Member] | |||||
Stock issued for services, shares | 1,910,000 | ||||
Stock issued for services | $ 635,860 | ||||
Attorney [Member] | |||||
Number of warrants issued during the period | 650,000 | 875,171 | 650,000 | ||
Warrants term | 5 years | 5 years | |||
Warrants exercise per share | $ 0.08 | $ 0.10 | |||
Number of warrants vested | 175,034 | 130,000 | |||
Warrant expences | $ 46,189 | ||||
Related Party [Member] | |||||
Issuance of common stock shares to converted of principal and interest on note payable into equity | 1,500,000 | ||||
Issuance of common stock value to converted of principal and interest on note payable into equity | $ 45,000 | ||||
Number of common stock shares issued for accrued salary | 3,625,000 | ||||
Number of common stock issued for accrued salary | $ 145,000 | ||||
Engineer [Member] | |||||
Number of warrants issued during the period | 1,500,000 | ||||
Warrants term | 5 years | ||||
Warrants exercise per share | $ 0.10 | ||||
Number of warrants vested | 62,500 | 687,500 | |||
Warrant expences | $ 34,926 | ||||
Consultant [Member] | |||||
Number of warrants issued during the period | 1,500,000 | ||||
Warrants term | 5 years | ||||
Warrants exercise per share | $ 0.10 | ||||
Number of warrants vested | 62,500 | ||||
Warrant expences | $ 27,588 | ||||
Engineer One [Member] | |||||
Number of warrants issued during the period | 875,171 | ||||
Warrants term | 5 years | ||||
Warrants exercise per share | $ 0.08 | ||||
Number of warrants vested | 79,561 | 795,610 | |||
Warrant expences | $ 36,766 | ||||
Warrants [Member] | |||||
Weight average remaining life of outstanding common stock warrants | 4 years 6 months 7 days | 4 years 9 months | |||
Aggregate intrinsic value of outstanding common stock warrants | $ 0 | $ 0 |
Stockholders' Equity (Deficit23
Stockholders' Equity (Deficit) - Schedule of Assumptions Used to Value Warrants (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Equity [Abstract] | ||
Risk-free interest rate | 1.25% | 1.25% |
Dividend yield | 0.00% | 0.00% |
Expected volatility | 110.24% | 110.24% |
Expected term (in years) | 5 years | 5 years |
Weighted average grant date fair value of warrants granted during the period | $ 0.12 | $ 0.34 |
Stockholders' Equity (Deficit24
Stockholders' Equity (Deficit) - Schedule of Warrants (Details) - $ / shares | Feb. 24, 2015 | Feb. 20, 2015 | Jan. 02, 2015 | Oct. 10, 2014 | Feb. 19, 2014 | Dec. 31, 2015 | Dec. 31, 2014 |
Warrants, Granted | 650,000 | ||||||
Warrants, Exercised | (15,000) | ||||||
Weighted Average Exercise Price, Granted | $ 0.10 | ||||||
Weighted Average Exercise Price, Exercised | $ (1) | ||||||
Warrants [Member] | |||||||
Warrants Outstanding, beginning balance | 654,519 | 19,519 | |||||
Warrants, Granted | 875,171 | 875,171 | 3,000,000 | ||||
Warrants, Forfeited/canceled | |||||||
Warrants Outstanding, ending balance | 5,404,861 | 654,519 | |||||
Warrants, Exercisable | 3,012,800 | 394,519 | |||||
Weighted Average Exercise Price Outstanding, beginning balance | $ 0.24 | $ 5.64 | |||||
Weighted Average Exercise Price, Granted | $ 0.08 | $ 0.08 | $ 0.10 | ||||
Weighted Average Exercise Price, Forfeited/canceled | |||||||
Weighted Average Exercise Price, Exercised | |||||||
Weighted Average Exercise Price Outstanding, ending balance | $ 0.09 | $ 0.24 | |||||
Weighted Average Exercise Price Outstanding, Exercisable | $ 0.12 | $ 0.34 |
Loan Payable - Related Party (D
Loan Payable - Related Party (Details Narrative) - USD ($) | Dec. 29, 2015 | Jun. 08, 2015 | Apr. 16, 2014 | Dec. 03, 2010 | Dec. 31, 2015 | Dec. 31, 2014 |
Debt instruments converted into shares, value | $ 967,254 | |||||
Debt instruments converted into shares | 6,299,016 | |||||
Valuecorp Trading Company [Member] | ||||||
Debt face amount | $ 25,000 | |||||
Valuecorp Trading Company [Member] | Settlement Agreement [Member] | ||||||
Debt instruments converted into shares, value | $ 12,500 | $ 25,000 | ||||
Debt conversion price per share | $ 0.03 | |||||
Debt instruments converted into shares | 416,667 | 833,333 | ||||
Accrued interest | $ 567 | |||||
Resolve outstanding balance | 12,500 | |||||
Debt face amount | $ 12,500 | |||||
H. E. Capital S.A [Member] | ||||||
Line of credit interest rate | 8.00% | |||||
Debt instruments converted into shares, value | $ 416,667 | $ 30,000 | ||||
Debt conversion price per share | $ 0.03 | |||||
Debt instruments converted into shares | 12,500 | 150,000 | ||||
Accrued interest | $ 8 | |||||
Resolve outstanding balance | 12,500 | |||||
Debt face amount | $ 12,500 | |||||
Unsecured Loan Payable [Member] | CEO [Member] | ||||||
Line of credit maximum borrowing | $ 1,000,000 | |||||
Line of credit interest rate | 4.00% | |||||
Debt extended due date | Dec. 31, 2015 | |||||
Unsecured Loan Payable [Member] | CEO [Member] | Restricted Stock [Member] | ||||||
Debt instruments converted into shares, value | $ 42,871 | |||||
Debt conversion price per share | $ 1 | |||||
Debt instruments converted into shares | 12,287 | |||||
Accrued interest | $ 30,584 |
Loan Payable - Other (Details N
Loan Payable - Other (Details Narrative) - USD ($) | Dec. 29, 2015 | Feb. 14, 2015 | Oct. 01, 2013 | Mar. 19, 2013 | Nov. 15, 2012 | Apr. 13, 2011 | Aug. 10, 2010 | Feb. 25, 2010 | Feb. 28, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Short-term Debt [Line Items] | ||||||||||||||
Debt instruments converted into shares | 6,299,016 | |||||||||||||
Debt instruments converted into shares, value | $ 967,254 | |||||||||||||
Vendor [Member] | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Number of free trading shares issued for satisfying a disputed obligation | 150,000 | |||||||||||||
Promissory Note On Individual One [Member] | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Loans payable | $ 7,500 | $ 7,500 | 7,500 | |||||||||||
Accrued interest | 4,957 | 5,857 | 4,957 | |||||||||||
Debt face amount | $ 170,000 | $ 20,000 | ||||||||||||
Debt accrued interest rate | 8.00% | 10.00% | ||||||||||||
Repayment of debt | $ 2,500 | $ 10,000 | ||||||||||||
Debt extended due date | Dec. 31, 2016 | Dec. 31, 2016 | ||||||||||||
Promissory Note On Individual One [Member] | Maximum [Member] | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Debt accrued interest rate | 12.00% | |||||||||||||
Promissory Note On Individual Two [Member] | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Loans payable | 170,000 | 170,000 | 170,000 | |||||||||||
Accrued interest | 28,914 | 42,514 | 28,914 | |||||||||||
Promissory Note On Individual Three [Member] | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Loans payable | 150,000 | 150,000 | 150,000 | |||||||||||
Accrued interest | 19,356 | $ 34,356 | 19,356 | |||||||||||
Debt face amount | $ 150,000 | |||||||||||||
Debt accrued interest rate | 8.00% | |||||||||||||
Debt maturity date | Mar. 18, 2014 | |||||||||||||
Debt extended due date | Dec. 31, 2016 | |||||||||||||
Promissory Note On Individual Four [Member] | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Loans payable | $ 171,300 | |||||||||||||
Accrued interest | $ 3,454 | |||||||||||||
Debt face amount | $ 171,300 | |||||||||||||
Debt accrued interest rate | 8.00% | |||||||||||||
Debt maturity date | Sep. 30, 2014 | |||||||||||||
Debt instruments converted into shares | 685,200 | |||||||||||||
Debt instruments converted into shares, value | $ 246,672 | |||||||||||||
H. E. Capital S.A [Member] | ||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||
Line of credit accrues interest rate | 8.00% | |||||||||||||
Line of credit due date | Dec. 31, 2016 | |||||||||||||
Loans payable | 127,482 | $ 241,582 | 127,482 | |||||||||||
Accrued interest | $ 85,031 | $ 99,719 | $ 85,031 | |||||||||||
Debt face amount | $ 12,500 | |||||||||||||
Repayment of debt | $ 12,500 | |||||||||||||
Debt instruments converted into shares | 12,500 | 150,000 | ||||||||||||
Debt instruments converted into shares, value | $ 416,667 | $ 30,000 | ||||||||||||
Number of free trading shares issued for satisfying a disputed obligation | 125,000 | 25,000 | 25,000 | |||||||||||
Loss on debt conversion | $ 25,706 |
Loan Payable - Other - Schedule
Loan Payable - Other - Schedule of H E Capital Loans Activity (Details) - H. E. Capital S.A [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Beginning Balance | $ 127,482 | $ 616,772 |
Proceeds | 121,700 | 170,700 |
Vendors paid direct on behalf of the Company | $ 2,400 | 19,510 |
Reclassification from accounts payable | 53,000 | |
Consulting fees | $ 60,000 | 60,000 |
Assignments | $ (70,000) | (445,000) |
Non-cash conversions | (347,500) | |
Ending Balance | $ 241,582 | $ 127,482 |
Secured Debentures (Details Nar
Secured Debentures (Details Narrative) - USD ($) | Jun. 02, 2014 | May 05, 2014 | Mar. 27, 2013 | Feb. 02, 2012 | Jan. 24, 2011 | Dec. 31, 2015 | Dec. 31, 2014 | Jan. 24, 2012 |
Secured debentures payable | $ 305,000 | $ 395,000 | ||||||
Note Outstanding One [Member] | ||||||||
Amount of debt | $ 50,000 | |||||||
Interest rate | 8.00% | |||||||
Note Outstanding Two [Member] | ||||||||
Amount of debt | $ 40,000 | |||||||
Interest rate | 8.00% | |||||||
Debt term | 1 year | |||||||
Investor One [Member] | ||||||||
Exercise price of warrants | $ 40 | $ 40 | ||||||
Reverse stock split | 1 for 100 | |||||||
Warrants issued for exercisable for common shares | 1,900 | 190,000 | ||||||
Warrant term | 5 years | |||||||
Secured Debenture Holders [Member] | ||||||||
Exercise price of warrants | $ 10 | $ 0.10 | ||||||
Reverse stock split | 1 for 100 | |||||||
Warrants issued for exercisable for common shares | 1,000 | 100,000 | ||||||
Warrant term | 5 years | |||||||
Common shares issued for debt extensions, shares | 10,001 | |||||||
Common shares issued for debt extensions | $ 30,000 | |||||||
Debt maturity date | Sep. 24, 2012 | |||||||
Number of warrants issued value | $ 2,998 | |||||||
Secured debentures payable | 305,000 | 305,000 | ||||||
Accrued interest | $ 200,010 | $ 162,902 | ||||||
Securities Purchase Agreements [Member] | ||||||||
Exercise price of warrants | $ 0.40 | |||||||
Reverse stock split | 1 for 100 | |||||||
Warrants issued for exercisable for common shares | 190 | |||||||
Securities Purchase Agreements [Member] | Debentures [Member] | ||||||||
Interest rate | 12.00% | |||||||
Securities Purchase Agreements [Member] | Investors [Member] | ||||||||
Amount of debt | $ 380,000 | |||||||
Interest rate | 12.00% | |||||||
Commission paid | $ 45,600 | |||||||
Number of warrants issued | 19,000 | |||||||
Exercise price of warrants | $ 0.40 | |||||||
Gross proceeds from subsequent financings | $ 1,000,000 | |||||||
Debt term | 6 months | |||||||
Note Outstanding One [Member] | ||||||||
Debt term | 1 year |
Provision for Income Taxes (Det
Provision for Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Income Tax Disclosure [Abstract] | |
Net operating loss carry-forwards | $ 10,234,000 |
Inocme tax expiration year | 2,033 |
Provision for Income Taxes - Sc
Provision for Income Taxes - Schedule of Net Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
NOL Carryover Tax Advantage | $ 3,479,500 | $ 3,394,400 |
Valuation allowance | $ (3,479,500) | $ (3,394,400) |
Net deferred tax assets |
Commitments (Details Narrative)
Commitments (Details Narrative) | Dec. 29, 2015USD ($)$ / sharesshares | Jul. 02, 2015 | Jun. 30, 2015USD ($) | Jun. 29, 2015USD ($) | Jun. 08, 2015USD ($)shares | May 13, 2015USD ($)shares | Jan. 30, 2015USD ($) | Jun. 01, 2013USD ($)ft²shares | Dec. 03, 2010USD ($)$ / sharesshares | Sep. 30, 2014shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($) | Jul. 01, 2015 |
License fee | $ (120,028) | |||||||||||||
Number of common stock shares issued for services | shares | 680,000 | |||||||||||||
Debt instruments converted into shares | shares | 6,299,016 | |||||||||||||
Debt instruments converted into shares, value | $ 967,254 | |||||||||||||
Percentage of ownership of another company | 99.00% | |||||||||||||
Ownership percentage description | On July 1, 2015, we accepted a 98% interest in a California Limited Liability Company which will operate as a partnership. We previously owned 1% of the LLC, but will now own 99%. The Companys CEO previously owned 99%, but will now retain 1% ownership. The purpose of the LLC is for future operational purposes. To date there are no operating activities in the LLC. | |||||||||||||
CEO [Member] | ||||||||||||||
Percentage of ownership of another company | 99.00% | |||||||||||||
Percentage of assigned interest back to company | 98.00% | |||||||||||||
Corporate Offices [Member] | ||||||||||||||
Lease term | 3 years | |||||||||||||
Office space | ft² | 3,300 | |||||||||||||
Lease payment due per month first year | $ 3,300 | |||||||||||||
Lease payment due per month second year | 3,738 | |||||||||||||
Lease payment due per month three year | $ 3,841 | |||||||||||||
Rent expense | $ 16,244 | $ 77,461 | ||||||||||||
Black Lion Oil Limited [Member] | ||||||||||||||
Payment of fees | $ 100,000 | |||||||||||||
Percentage of royalties rate | 10.00% | |||||||||||||
Landlord [Member] | ||||||||||||||
Common shares issued to settle disputed obligation, shares | shares | 1,233,031 | |||||||||||||
Common shares issued to settle lease obligation | $ 45,075 | |||||||||||||
MicroCap [Member] | ||||||||||||||
Common shares issued to settle disputed obligation, shares | shares | 25,000 | |||||||||||||
Common shares issued to settle lease obligation | $ 42,111 | |||||||||||||
Cenco Leasing Company, Inc [Member] | ||||||||||||||
Obtained funding amount | $ 2,800,000 | |||||||||||||
Cenco Leasing Company, Inc [Member] | License Agreement [Member] | ||||||||||||||
Accrued interest | $ 90,000 | |||||||||||||
Proceeds from note payable | 5,028 | |||||||||||||
License fee | $ 25,000 | |||||||||||||
Cenco Leasing Company, Inc [Member] | License Agreement [Member] | Some States [Member] | ||||||||||||||
Percentage of royalties rate | 3.00% | |||||||||||||
Cenco Leasing Company, Inc [Member] | License Agreement [Member] | Other States [Member] | ||||||||||||||
Percentage of royalties rate | 5.50% | |||||||||||||
Era Star [Member] | ||||||||||||||
Resolve outstanding balance | $ 120,000 | |||||||||||||
Due to related party | $ 20,000 | |||||||||||||
Issuance of free trading shares | shares | 20,000 | |||||||||||||
Debt extended due date | Dec. 31, 2016 | |||||||||||||
Era Star [Member] | Settlement Agreement [Member] | ||||||||||||||
Number of common stock shares issued for services | shares | 350,000 | |||||||||||||
Number of common stock shares issued for full consideration of contractual obligations | shares | 370,000 | |||||||||||||
H. E. Capital S.A [Member] | ||||||||||||||
Accrued interest | $ 8 | |||||||||||||
Resolve outstanding balance | $ 12,500 | |||||||||||||
Debt instruments converted into shares | shares | 12,500 | 150,000 | ||||||||||||
Debt conversion price per share | $ / shares | $ 0.03 | |||||||||||||
Debt instruments converted into shares, value | $ 416,667 | $ 30,000 | ||||||||||||
Debt face amount | 12,500 | |||||||||||||
Line of credit | 12,500 | |||||||||||||
Reduction of line of credit | 12,500 | |||||||||||||
Valuecorp Trading Company [Member] | ||||||||||||||
Debt face amount | $ 25,000 | |||||||||||||
Valuecorp Trading Company [Member] | Settlement Agreement [Member] | ||||||||||||||
Accrued interest | $ 567 | |||||||||||||
Resolve outstanding balance | $ 12,500 | |||||||||||||
Debt instruments converted into shares | shares | 416,667 | 833,333 | ||||||||||||
Debt conversion price per share | $ / shares | $ 0.03 | |||||||||||||
Debt instruments converted into shares, value | $ 12,500 | $ 25,000 | ||||||||||||
Debt face amount | $ 12,500 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | May 18, 2016 | Jan. 02, 2015 | Mar. 31, 2016 | Mar. 18, 2016 | Dec. 31, 2015 |
Subsequent Event [Line Items] | |||||
Note payable | $ 15,000 | ||||
Consultant [Member] | |||||
Subsequent Event [Line Items] | |||||
Warrants exercise price per share | $ 0.10 | ||||
Warrants term | 5 years | ||||
Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt interest rate | 8.00% | ||||
Proceeds from issuance of note payable | $ 53,500 | ||||
Debt maturity date | Jun. 2, 2016 | ||||
Subsequent Event [Member] | Consultant [Member] | |||||
Subsequent Event [Line Items] | |||||
Warrants issued for exercisable for common shares | 1,500,000 | ||||
Warrants exercise price per share | $ 0.10 | ||||
Warrants term | 18 months | ||||
Subsequent Event [Member] | Individual [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt face amount | $ 134,000 | ||||
Debt interest rate | 8.00% | ||||
Note payable | $ 134,000 | ||||
Subsequent Event [Member] | Third Party [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt interest rate | 8.00% |