Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Apr. 06, 2017 | Mar. 16, 2017 | |
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, 2016 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 1,746,516 | ||
Entity Common Stock, Shares Outstanding | 28,617,597 | ||
Trading Symbol | GETH | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,016 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
CURRENT ASSETS | ||
Cash | $ 94,664 | $ 8,076 |
Deposits | 38,012 | |
Prepaid expenses | 177,169 | |
Other current assets | 2,284 | 6,426 |
Total current assets | 312,129 | 14,502 |
OTHER ASSETS | ||
Carbon equipment , not in use | 459,935 | |
Construction in Progress | 262,980 | |
Total other assets | 722,915 | |
TOTAL ASSETS | 1,035,044 | 14,502 |
CURRENT LIABILITIES | ||
Accounts payable | 630,719 | 641,371 |
Accounts payable-related party | 6,625 | |
Accrued expenses | 382,715 | 2,449,012 |
Secured debentures payable | 305,000 | 305,000 |
Loan Payable-related party-convertible | 1,433,937 | |
Loan Payable-other-convertible | 149,295 | |
Loan payable-other-non-convertible | 170,000 | 594,082 |
Total current liabilities | 3,071,666 | 3,996,090 |
TOTAL LIABILITIES | 3,071,666 | 3,996,090 |
STOCKHOLDERS' 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, 28,517,597 and 23,926,757 shares issued and outstanding | 28,518 | 23,927 |
Additional paid in capital | 20,799,102 | 16,589,838 |
Accumulated deficit | (22,818,208) | (20,595,353) |
Total GreenEnvirotech Holdings Corp. Stockholders' deficit | (1,990,588) | (3,981,588) |
Noncontrolling interest | (46,034) | |
Total stockholders' deficit | (2,036,622) | (3,981,588) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 1,035,044 | $ 14,502 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
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 | 28,517,597 | 23,926,757 |
Common stock, shares outstanding | 28,517,597 | 23,926,757 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
OPERATING EXPENSES | ||
Wages and professional fees | $ 1,801,941 | $ 611,248 |
General and administrative | 265,057 | 79,145 |
Total operating expenses | 2,066,998 | 690,393 |
Loss from operations | (2,066,998) | (690,393) |
OTHER INCOME (EXPENSES) | ||
Interest expense | (145,983) | (84,123) |
Vendor judgement award | (42,111) | |
Loss on debt conversion | (67,282) | (15,000) |
Territorial Licencee Fee-Plants | 120,028 | |
Total other income (expense) | (213,265) | (21,206) |
NET LOSS | (2,280,263) | (711,599) |
Loss attributable to noncontrolling interest | (57,408) | |
Loss attributable to controlling interest | $ (2,222,855) | $ (711,599) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED | 24,871,369 | 20,422,966 |
NET LOSS PER SHARE-BASIC AND DILUTED | $ (0.09) | $ (0.03) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Deficit - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total Green Envirotech Holdings Corp Stockholders' Deficit [Member] | Noncontrolling Interests [Member] | Total |
Balance at Dec. 31, 2014 | $ 17,503 | $ 15,447,308 | $ (19,883,754) | $ (4,418,943) | $ (4,418,943) | ||
Balance, shares at Dec. 31, 2014 | 17,503,432 | ||||||
Common shares issued to related party for note conversion | $ 1,500 | $ 43,500 | 45,000 | $ 45,000 | |||
Common shares issued to related party for note conversion, shares | 1,500,000 | ||||||
Conversion of accounts payable and accruals to common shares | $ 1,299 | $ 54,876 | 56,175 | $ 56,175 | |||
Conversion of accounts payable and accruals to common shares, shares | 1,298,325 | ||||||
Common shares issued for related party accrued debt | $ 3,625 | $ 141,375 | 145,000 | $ 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 | $ 721,749 | ||||
Gain on conversion of accounts payable | (6,529) | (6,529) | (6,529) | ||||
Loss on debt conversion | 15,000 | 15,000 | 15,000 | ||||
Warrants issued for service | 172,559 | 172,559 | 172,559 | ||||
Common shares issued for services | |||||||
Conversion of loans payable for common stock | $ 56,175 | ||||||
Conversion of loans payable for common stock, shares | 1,298,325 | ||||||
Debt discount from convertible loan payable | |||||||
Warrants issued for services | 172,559 | ||||||
Net loss | (711,599) | (711,599) | (711,599) | ||||
Balance at Dec. 31, 2015 | $ 23,927 | 16,589,838 | (20,595,353) | (3,981,588) | (3,981,588) | ||
Balance, shares at Dec. 31, 2015 | 23,926,757 | ||||||
Common shares issued for services | $ 819 | 171,073 | 171,892 | 171,892 | |||
Common shares issued for services, shares | 818,636 | ||||||
Conversion of loans payable for common stock | $ 2,683 | 531,861 | 534,544 | $ 534,544 | |||
Conversion of loans payable for common stock, shares | 2,683,134 | 967,254 | |||||
Conversion of accounts payable for common stock | $ 439 | 126,847 | 127,286 | $ 127,286 | |||
Conversion of accounts payable for common stock, shares | 439,070 | ||||||
Common shares issued for prepaid expenses | $ 650 | 187,785 | 188,435 | 188,435 | |||
Common shares issued for prepaid expenses, shares | 650,000 | ||||||
Debt discount from convertible loan payable | 105,600 | 105,600 | 105,600 | ||||
Warrants issued for services | 931,963 | 931,963 | 931,963 | ||||
Warrants issued to related party for accrued salary | 417,100 | 417,100 | 417,100 | ||||
Warrants issued to employees for accrued salary | 1,737,035 | 1,737,035 | 1,737,035 | ||||
Minority investment into Smart Fuel Solutions | 11,374 | 11,374 | |||||
Net loss | (2,222,855) | (2,222,855) | (57,408) | (2,280,263) | |||
Balance at Dec. 31, 2016 | $ 28,518 | $ 20,799,102 | $ (22,818,208) | $ (1,990,588) | $ (46,034) | $ (2,036,622) | |
Balance, shares at Dec. 31, 2016 | 28,517,597 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (2,280,263) | $ (711,599) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Common stock issued for services | 171,892 | |
Loss on debt conversion | 67,282 | 15,000 |
Amortization of debt discount | 8,800 | |
Gain on settlement of accounts payable & accrued salaries | (6,529) | |
Company liabilities paid direct | 2,400 | |
Debt increase as a result of a consulting agreement | 60,000 | 60,000 |
Warrants issued for services | 783,011 | 172,559 |
Warrants issued for services, related party | 148,952 | |
Note and accrued interest extinguished for territorial licenses fees-plants | (95,028) | |
Change in assets and liabilities | ||
(Increase) in deposits and other current assets | (17,604) | |
Accounts payable-related party | (6,625) | 6,625 |
Increase in accounts payable and accrued expenses | 187,123 | 435,721 |
Net cash (used in) operating activities | (877,432) | (120,851) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Construction in Progress | (262,980) | |
Net cash used in investing activities | (262,980) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds received from loan payable - other | 121,700 | |
Loan Payable-related party-convertible notes | 1,280,500 | |
Payments on loan payable - related party | (53,500) | |
Net cash provided by financing activities | 1,227,000 | 121,700 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 86,588 | 849 |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 8,076 | 7,227 |
CASH AND CASH EQUIVALENTS - END OF PERIOD | 94,664 | 8,076 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest | 44,000 | |
Income Taxes | ||
NON-CASH SUPPLEMENTAL INFORMATION: | ||
Conversion of loans payable for common stock | 365,013 | |
Accrued liability settled by note payable | 74,295 | |
Conversion of related party debt for common stock | 190,000 | |
Reclassify related party accrued salary relinguished | 721,749 | |
Conversion of accounts payable for common stock | 229,535 | 56,175 |
Common shares issued for prepaid expense | 188,435 | |
Investment in Smart Fuel Solutions, Inc. | 53,710 | |
Debt received from investment in Smart Fuel Solutions, Inc. | 134,000 | |
Accrued liability assigned to related party convertible note | 76,060 | 70,000 |
Warrants issued for Related party accrued salary | 417,100 | |
Warrants issued for Employees accrued salary | 1,737,035 | |
Debt transferred from related party to third party | 210,000 | |
Debt transferred to related party convertible debt | (20,000) | |
Debt discount from convertible loan payable | $ 105,600 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [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. formed 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 subsidiaries from October 6, 2008 to current. 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, 2016, the Company had a net loss. The Company also had a working capital deficit and an accumulated deficit. Further losses are anticipated in the development of the Company’s 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, 2016 | |
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. The joint venture was dissolved effective December 31, 2016. Also included in the consolidated financial statements is Smart Fuel Solutions, Inc. formed under the laws of the state of Florida. We acquired 82.5% of Smart Fuel Solutions, Inc. on September 28, 2016; please refer to Note 8 for more detail. Intercompany balances and transactions were eliminated between the entities. Reclassifications Certain reclassifications have been made to the prior period’s financial statements to conform to the current period’s 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, 2016 and 2015, 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. During the year end December 31, 2016, we incurred engineering and design costs on our first planned GEN 1 End of Life Tire Processing Plant. The engineering and design includes process flow diagrams, equipment specifications, building layout and piping and instrument drawings. These costs are carried in Construction in Progress. We invested in a new subsidiary during the year, Smart Fuel Solutions, Inc. (SFS). SFS acquired carbon equipment at a cost of $190,000 for our first carbon plant. When we acquired 82.5% ownership of SFS on September 28, 2016, we adjusted the value of the carbon equipment to $459,935 as a result of treating the acquisition as an asset purchase. We absorbed SFS’s liabilities and SFS’s assets which were based upon present value; please refer to Note 8 Acquisitions for more detail. The carbon equipment was not in service during the year, nor was it in service on December 31, 2016. Since the carbon equipment was not in service, there was no depreciation taken. Construction in Progress Construction in progress is stated at cost, which includes the costs of construction and other direct costs attributable to the construction. No provision for depreciation is made on construction in progress until such time as the relevant assets are completed and put into use. Interest on the borrowing related to construction is capitalized in accordance with ASC 835-20 Capitalization of Interest. 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 2016 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 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. There are no intangible assets and as such we had no impairment charges for the years ended December 31, 2016 and 2015. 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 recognize 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, 2016 and 2015, we estimated our forfeiture rate to be 0% based on the Company’s historical experience. There were no stock options granted to employees during the years ended December 31, 2016 and 2015. During the fiscal periods ended December 31, 2016 and 2015, 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 issuance 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 820’s 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. Related Party The Company follows ASC 850, “ Related Party Disclosures,” |
Loan Payable - Related Party an
Loan Payable - Related Party and Convertible | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Loan Payable - Related Party and Convertible | NOTE 3- LOAN PAYABLE – RELATED PARTY AND CONVERTIBLE 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 Company’s 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. This note was assigned back to H. E. Capital on .October 1, 2016. The Company at the beginning of the year 2016 had a Line of Credit with H. E. Capital, S. A. This Line of Credit accrues interest at the rate of 8% per annum and is convertible at $0.10 per share. The due date of the loan was extended to December 31, 2017. During the year December 31, 2016, H. E. Capital, S. A., assigned to an entity $200,000 of its debt, who converted $100,000 of the assignment amount at $0.10 per share. The entity is still holding $100,000 of the convertible debt at December 31, 2016. H. E. Capital also assigned to a third party $10,000, who converted the assigned amount at $0.10 per share. H. E. Capital was assigned a $7,500 note from a different third party debt holder and $12,500 from a related party debt holder Total net of the assignments to H.E. capital from debt holders was $190,000 and $70,000 during December 31, 2016 and 2015; respectively. During the year December 31, 2016 and 2015 H.E. Capital converted $42,905 of the debt into 720,721 common shares of which H.E. capital assigned 54,054 common shares directly to a third party. The Company borrowed $352,000 and $121,700, during December 31, 2016 and 2015, respectively. The Company approved the assignment of $76,060 of the Company accounts payable and accrued interest to the H.E. Capital line of credit. During December 31, 2015, H.E. Capital paid $2,400 of expenses on behalf of the Company and increased the line of credit $121,700. During the year ended December 31, 2015, H. E. Capital assigned $70,000 of its debt. $45,000 was assigned to Black Lion Oil Limited, a related party, who converted the assignment into 1,500,000 shares of the Company’s common stock. $12,500 was assigned to Value Corp Trading Company and $12,500 was assigned to another third party. For these and other financial services H.E. Capital charged the Company $60,000 during December 31, 2016 and December 31, 2015; respectively. The balance of the loan at December 31, 2016 was $496,737 with accrued interest in the amount of $125,625 as compared to $241,582 with accrued interest in the amount of $99,719 for the year ended December 31, 2015. History of the H. E. Capital loans is as follows: December 31, 2016 December 31, 2015 Beginning Balance $ 241,582 $ 127,482 Proceeds 352,000 121,700 Vendors paid direct on behalf of the Company - 2,400 Reclassification from accounts payable & accruals 76,060 - Consulting fees 60,000 60,000 Assignments (190,000 ) (70,000 ) Non-cash conversion (42,905 ) - Ending Balance $ 496,737 $ 241,582 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 during December 31, 2015. On July 17, 2015, we approved the assignment of $45,000 of H. E. Capital LOC loan to Black Lion Oil Limited, a related party, who converted the debt into 1,500,000 shares of the Company’s common stock at a loss of $15,000. On February 1, 2016, we issued an 8%, $134,000 Note Payable to our now, new CEO Chris Bowers for funds received. We wired these same funds to Smart Fuel Solutions, Inc. (SFS) for a promissory note for the same amount at eight percent (8%). The funds are intended for the use of Smart Fuel Solutions. We intend to be a majority owner SFS in the future by issuing licensing agreements for the use of our technology. In March 2016, we requested and SFS agreed to be totally responsible for the $134,000 note. The note was assigned and accepted by SFS. The funds were used for working capital in SFS. On September 28, 2016 when we acquired controlling interest in SFS (see Note 5) we assumed the note. The note is convertible at $0.50 per share. As of December 31, 2016, the accrued interest on this note was $4,604. On July 29, 2016, we approved the assignment of a Chris Bowers 8% convertible note in the amount of $12,500 to H.E. Capital under the 2016 line of credit. On August 15, 2016, we accepted a Line of Credit (LOC) in the amount of $500,000 from our new CEO Chris Bowers. On November 14, 2016, we accepted a second Line of Credit (LOC) in the amount of $500,000 from our CEO. As of the December 31, 2016, these two LOCs had an outstanding balance in the amount of $900,000 with no accrued interest. These LOCs accrue interest at the rate of 1% per month based upon $1,000,000 total balance. We have been paying $10,000 per month in interest on the two LOCs. The due date of the two loans is December 31, 2017. The funds were used for working capital of the Company. The first LOC has two Addendums attached to it. Addendum A clarifies debt conversion rights attached to the LOC at $0.20 per share of common stock. Addendum B clarifies other rights attached to the LOC. These other rights are numbered below. (The second LOC has the same rights as that of the first LOC). The Company evaluated these convertible LOCs for Beneficial Conversion Features (BCF) and concluded that the second LOC incurred a Beneficial Conversion Features (BCF) when it was issued on November 14, 2016. The BCF resulted in a debt discount in the amount of $105,600 of which $8,800 was amortized for the year ended December 31, 2016. These certain other rights in Addendum B provide for the following: 1. LOC has Repayment rights: The LOC has priority principal and interest repayment rights from other sources of capital received by the Company. 2. LOC has Warrant rights: Bowers has the right to receive 500,000 (five hundred thousand) $0.10 warrants for providing the LOC and 250,000 (two hundred fifty thousand) $0.10 warrants per $100,000 drawn against the $500,000 LOC. This would be a total of 1,750,000 $0.10 warrants to be issued to Bowers and/or Assigns for providing the funding and the Company using all $500,000 LOC. 3. LOC has Additional Stock Conversion rights: At any time while the LOC is outstanding, Bowers has the right to convert per $100,000 of the LOC for 500,000 shares of duly paid and non-assessable common stock of the Company at a conversion price of $0.20 per share (subject to adjustment in the event of stock splits or stock dividends) by providing a notice of conversion in a form reasonably acceptable to the Company. The full conversion of the LOC would be 2,500,000 shares of the Company common stock. The Company evaluated the addendums under ASC 470-50 and concluded that these addendums did not qualify for debt modification. On May 18, 2016, the Company issued an eight percent (8%) Note Payable to Smart Fuel Solutions, Inc. for the $53,500. This note was not convertible. 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. The Company analyzed the conversion options in the convertible loan payables for derivative accounting consideration under ASC 815, Derivative and Hedging, and determines that the transactions do not qualify for derivative treatment. |
Loan Payable - Other - Non-Conv
Loan Payable - Other - Non-Convertible | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Loan Payable - Other - Non-Convertible | NOTE 4- LOAN PAYABLE – OTHER – NON-CONVERTIBLE On February 25, 2010, we 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 was extended to December 31, 2016. On October 1, 2016, the balance of this note of $7,500 with its accrued interest in the amount of $6,533 was assigned to H.E. Capital S.A. On November 15, 2012, we issued a promissory note to an individual in the amount of $170,000 at 8% interest. The note was extended to December 31, 2017. The Company used the funds to pay off the convertible notes held by Asher Enterprise, Inc. As of December 31, 2016 and 2015 the loan has an outstanding balance of $170,000 and accrued interest in the amount of $6,856 and $42,514 respectively. The accrued interest in the amount of $49,295 reported for the $170,000 on June 30, 2016 was converted into a new note dated July 1, 2016 with $0.50 per share conversion rights and accruing interest at 8%. The accrued interest on this new note on December 31, 2016 was $1,988. The $170,000 balance is not convertible only the $49,295 is convertible at $0.50 per share. |
Loan Payable - Other -Convertib
Loan Payable - Other -Convertible | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Loan Payable - Other -Convertible | NOTE 5- LOAN PAYABLE – OTHER –CONVERTIBLE On March 19, 2013, we issued a promissory note to an individual in the amount of $150,000 at 8% interest due on March 18, 2014. This note was extended to December 31, 2016. We used the funds for working capital. On December 1, 2016, this note with its accrued interest in the amount of $48,123 was converted into 396,246 shares of our common stock. On May 18, 2015, we approved the Debt Assignment Agreement dated March 18, 2015 between H.E. Capital S.A. (HEC) and Valuecorp Trading Company. We also approved the Debt Settlement Agreement dated March 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 December 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 Company’s common stock for the conversion of its $12,500 note when presented to the Company for conversion. This note was converted on December 7, 2016. On May 16, 2016, we approved H.E. Capital S.A.’s (HEC) request to assign to a private company $200,000 of its Line of Credit Note. We approved the request and reduced HEC’s Line of Credit Note for that amount and record a new note. On July 19, 2016, the private company converted $100,000 of its note into 1,000,000 common shares of the Company’s stock. The note bears interest at 8%, is convertible at $0.10 per share and is due on December 31, 2016. The note was extended to December 31, 2017. As of December 31, 2016, the balance of this loan is $100,000 with accrued interest in the amount of $6,422. On July 1, 216, we issued a convertible promissory note to an individual in the amount of $49,295 at 8% interest due on December 31, 2016. This note is convertible at $0.50 per share. This note was extended to December 31, 2017. This note represents the accrued interest on the $170,000 note we owe the individual. This note was generated at their request. On December 31, 2016, this note had accrued interest in the amount of $1,988. On August 16, 2016, we approved H.E. Capital S.A.’s (HEC) request to assign to an individual $10,000 of its Line of Credit Note. We approved the request and reduced HEC’s Line of Credit Note for that amount and record a new note. On August 16, 2016, the individual converted the $10,000 into 100,000 common shares of the Company’s stock. The Company analyzed the conversion options in the convertible loan payables for derivative accounting consideration under ASC 815, Derivative and Hedging, and determines that the transactions do not qualify for derivative treatment. The Company then analyzed these convertible notes for Beneficial Conversion Features (BCF) and concluded there were no BCF on these loan payable convertible notes. |
Secured Debentures
Secured Debentures | 12 Months Ended |
Dec. 31, 2016 | |
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. These warrants expired during the year ended December 31, 2016. 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. These warrants are set to expire on February 2, 2017. The balance of these Debentures on December 31, 2016 and 2015 was $305,000. The accrued interest for the years ended December 31, 2016 and 2015 were $237,220 and $200,010 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. |
Stockholders_ Equity (Deficit)
Stockholders’ Equity (Deficit) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Stockholders' Equity (Deficit) | NOTE 7- 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, 2016, we had 28,517,597 common shares outstanding as compared to 23,926,757 common shares outstanding on December 31, 2015. Effective March 27, 2013, the Company effected a 100-for-1 reverse split of its common stock. The financial statements were adjusted to reflect the reverse stock split for all periods as of the first day of the first period presented. 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 Company’s common stock, the estimated volatility of the Company’s common stock, the exercise price and the risk free interest rate. As of December 31, 2016 and 2015 total unrecognized compensation expense related to non-vested share-based compensation arrangements was $0. The key inputs in determining grant date fair value are as follows: Period Ended December 31, 2016 2015 Risk-free interest rate 1.28 % 1.25 % Dividend yield 0.00 % 0.00 % Expected volatility 276.00 % 110.24 % Expected term (in years) 3.0 5.0 Weighted average grant date fair value of warrants granted during the period $ 0.10 $ 0.10 The following table presents the warrant activity during 2016 and 2015: Weighted Average Warrants Exercise Price 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 $ 0.12 Exercisable as of December 31, 2015 3,012,800 $ 0.12 Outstanding - December 31, 2015 5,404,861 $ 0.10 Expired-Jan 24, 2016 (2,090 ) $ 24.16 Granted-Feb 1, 2016 1,500,000 $ 0.10 Expired-Aug 1, 2016 (1,429 ) $ 24.16 Granted-Aug 1, 2016 4,675,000 $ 0.10 Granted-Aug 28, 2016 1,860,000 $ 0.10 Granted-Aug 31, 2016 600,000 $ 0.10 Granted-Sept 2, 2016 1,380,000 $ 0.10 Granted-Sept 28, 2016 2,493,000 $ 0.10 Granted-Oct 7, 2016 1,000,000 $ 0.10 Granted-Nov 15, 2016 50,000 $ 0.50 Exercisable as of December 31, 2016 18,959,342 $ 0.10 Outstanding - December 31, 2016 18,959,342 $ 0.10 The weighted average remaining life of the outstanding common stock warrants as of December 31, 2016 and 2015 was 2.92 and 4.52 years. The aggregate intrinsic value of the outstanding common stock warrants as of December 31, 2016 and 2015 was $2,713,758 and $0 respectively. Stock and Warrant issues during the year ended December 31, 2015: Stock Issues: ● we issued 1,500,000 common shares to a related party for a note conversion in the amount of $45,000. ● we 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. ● we issued 3,625,000 common shares to a related party to convert $145,000 in accrued salary. Warrant Issues: ● we 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. ● we 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. ● we 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. ● we 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. ● We 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. Stock and Warrant issues during the year ended December 31, 2016: Stock Issues: ● we issued 1,000,000 common shares in July at $0.10 a share to settle a note in the amount of $100,000. There was a loss of $50,000 on this conversion. ● we issued 820,721 common shares in August to settle $52,905 of debt including which, 720,721 shares were issued to a related party H.E. Capital. There was a loss of $76,870 on the conversion. ● we issued 125,000 common shares in August for consulting services valued at $18,750. ● we issued 439,070 common shares in December to convert $229,535 of accounts payable. There was a gain of $102,249 on the transactions. ● we issued 693,636 common shares during October 2016-December 2016 for consulting services valued at $153,143. ● we issued 650,000 common shares in December for future consulting services valued at $188,435 and recorded as prepaid expenses which is being amortized over six months. ● we issued 862,413 common shares in December to settle $162,500 of debt and $49,608 of accrued interest. There was a loss of $42,661 on the conversion. Warrant Issues: ● we issued 1,500,000 common stock warrants in February for services rendered valued at $30,000 by the Black-Sholes method. These warrants were fully vested and have an exercise price of $0.10 per share, and expire on February 1, 2021. ● we had 3,519 common stock warrants expire in July 2016. ● we issued an aggregate of 3,675,000 common stock warrants in August including which 2,000,000 warrants were issued to Chris Bowers, the current CEO, for providing lines of credit and for services rendered and 1,500,000 warrants were issued to other related parties; HE Capital received 1,250,000 warrants for services rendered and Wayne Leggett received 250,000 warrants for services rendered. The rest of the warrants were also issued to entities for services rendered. All of the warrants issued were valued at $584,289 by the Black-Sholes method. All of these warrants were fully vested. 3,625,000 of these warrants have an exercise price of $0.10 per share, and expire on December 31, 2019. 50,000 of these warrants have an exercise price of $0.50 per share, and expire on August 15, 2019. ● we issued 1,000,000 common stock warrants in August to Gary DeLaurentiis, our former CEO and a related party, for his service as a director in 2016. These warrants were valued at $148,952 by the Black-Sholes method. These warrants were fully vested and have an exercise price of $0.10 per share, and expire on December 31, 2019. ● we issued an aggregate of 3,840,000 common stock warrants during August and September to a total of five current and former employees settle $2,154,135 in accrued and unpaid salary. This included 600,000 warrants to Gary DeLaurentiis for $417,100 in accrued and unpaid salary. These warrants were fully vested and have an exercise price of $0.10 per share, and expire on December 31, 2019. ● we issued 1,050,000 common stock warrants in October and November for services rendered valued at $168,722 by the Black-Sholes method. 50,000 of these warrants were fully vested when issued and have an exercise price of $0.50 per warrant expiring on November 15, 2019. The remaining warrants in the amount of 1,000,000 were fully vested when issued and have an exercise price of $0.10 per warrant expiring on December 31, 2019. A recap of our common shares issued for the year ended December 31, 2016; we issued 818,636 common shares for services rendered valued at $171,892 and we issued 2,683,134 common shares to convert $315,405 of debt and $49,608 of accrued interest. We issued 439,070 common shares to convert $229,535 of accounts payable. We also issued 650,000 common shares for future consulting services valued at $188,435 and recorded as prepaid expenses. A recap of our common stock warrants issued for the year ended December 31, 2016; we issued 6,225,000 warrants for services valued at $783,011. Of this amount Chris Bowers our new CEO received 2,000,000 for making loans to the Company and providing services in the capacity as a financial consultant. These warrants were valued at $300,000. Gary DeLaurentiis, our former CEO, received 1,000,000 for services as a director valued at $148,952. Other related parties received 1,500,000 valued at $225,000. We also issued 3,840,000 warrants to convert $2,154,135 in accrued salaries to former and current employees which included $417,100 accrued salary to Gary DeLaurentiis our former CEO. Mr. DeLaurentiis received 600,000 warrants valued at $59,266. Smart Fuel Solutions, Inc. (SFS) issued 2,493,000 warrants on September 28, 2016 for services rendered in the amount of $249,300. 1,568,000 of these warrants were to related parties. We included $2,730 of this amount in our general and administrative expenses as a result of our consolidating SFS operations on December 31, 2016. On January 30, 2015, in conjunction with the execution of the agreement between us and Cenco, 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 territorial rights given to Cenco. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 8 Related Party Transactions On July 17, 2015, the Company issued 1,500,000 common shares to a related party for a note conversion in the amount of $45,000. On July 20, 2015, the Company issued 3,625,000 common shares to a related party to convert $145,000 in accrued salary. On August 1, 2016, we issued warrants valued at $148,952 to purchase 1,000,000 shares of the Company’s common stock to our then CEO for his service as a director in 2016. On August 1, 2016, we issued warrants valued at $300,000 to purchase 2,000,000 shares of the Company’s common stock to Chris Bowers our now current CEO for providing the credit line and services rendered as a financial consultant. Chris Bowers became our new CEO and board member on December 12, 2016. On August 31, 2016, we issued warrants to purchase 600,000 shares of the Company’s common stock to Gary DeLaurentiis, our then CEO for him converting $417,100 of his accrued salary. The warrants had a fair value of $59,266. The Company recorded the gain on conversion of $357,734 as additional paid in capital. On September 30, 2016, we were carrying in accounts payable $917 payable to our CEO for business expenses. The payable was paid in full during the fourth quarter ended December 31, 2016. For the year ended December 31, 2016, we have issued 1,250,000 warrants to related parties for services valued at $187,500. 2,000,000 warrants were issued to our new CEO for loans to the Company and for services as a financial consultant. We also issued 3,240,000 warrants to convert $1,737,032 in accrued salaries to former and current employees. The fair value was $393,505, the Company record a gain on settlement of $1,351,502 the gain was recognized as additional paid in capital. The Company’s offices are currently located at 14699 Holman Mtn Rd, Jamestown, CA 95327. The space is provided by the Chairman of the Company at no cost. |
Asset Acquisition
Asset Acquisition | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Asset Acquisition | Note 9- Asset Acquisition On September 28, 2016 we received 17,000,000 shares of common stock of Smart Fuel Solutions, Inc. (Smart Fuel Solutions), a Florida Corporation formed on November 20, 2015. We received the shares in exchange for providing technology for use in the US and $53,710 decrease in Smart Fuel liability to us. Our affiliate, Black Lion Oil Limited, received 3,000,000 shares of Smart Fuel on the same date for granting licenses to use the Green EnviroTech technology in countries outside the US. Smart Fuel Solutions also issued on September 28, 2016 600,000 shares to an individual for an equity injection of $600,000. Smart Fuel Solutions is a staffed service corporation working with the Company to undertake operational responsibilities, research and development, engineering, and development of operational facilities. Smart Fuel Solutions will provide the staffing, maintenance and management of the facilities. Smart Fuel Solutions will also secure feedstock for, and sell the end products from, the Processing Plants and Finishing Plants. On September 28, 2016 we received our shares from Smart Fuel Solutions which represents the majority of the outstanding shares of Smart Fuel Solutions. The Company valued each of the assets acquired (cash, accounts receivable, and property, plant and equipment) and liabilities assumed (accounts payable and accruals and notes payable) at their cost as of the acquisition date. The acquisition was considered that of assets under FASB ASC 805-50. Since Smart Fuel Solutions was not considered a business under ASC 805 at the date of acquisition. The Company acquired the following assets and assumed the following liabilities in the acquisition of Smart Fuel Solutions, Inc.: Cash $ 40,671 Deposits 5,000 Other assets-carbon equipment 459,935 Accounts payable and accrued expenses (40,761 ) Due to related party: Green EnviroTech Holdings Corp. (265,761 ) Note Payable (134,000 ) Total Net Assets (Liabilities) before non-controlling interest $ 65,084 Less: non-controlling interest $ 11,374 Decrease of Smart Fuel’s liability to Green EnviorTech $ 53,710 As on September 28, 2016, the date of the Company’s acquisition of its interest in Smart Fuel Solutions, Inc. (Smart Fuel), it was determined the acquisition of the Smart Fuel met the criteria for the acquisition of assets under FASB ASC 805-50. Therefore, we recorded the acquisition as the purchase of equipment. The combined result of the Company’s operations with Smart Fuel Solutions, Inc. is part of the Company’s combined proforma financials as if the acquisition had been completed as of the beginning of the reporting period. Adjustments were made to eliminate any inter-company transactions in the periods presented. |
Provision for Income Taxes
Provision for Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Taxes | NOTE 10- 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 Company’s 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 Company’s 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. Availability of loss usage is also subject to audit by the Internal Revenue Service (IRS). The IRS, when they do audits, normally go back three years, but this can be extended three more years if it can be proven income was understated by 25% or more. Years from 2012 through 2015 remain subject to review by the IRS. Net Deferred Tax Assets consisted of the following components as of December 31, 2016 and 2015: Deferred Tax Assets: 2016 2015 NOL Carryover Tax Advantage $ 3,792,000 $ 3,479,500 Valuation allowance (3,792,000 ) (3,479,500 ) $ - $ - 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, 2016 and 2015. At December 31, 2016, the Company had a net operating loss carry forward in the amount of approximately $11,153,000 available to offset future taxable income through 2036. 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, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | NOTE 11- 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 (5.0%) of Black Lion’s gross sales. The Company used the fee for working capital. As of December 31, 2016, 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. Microcap’s position was that what was delivered was unsellable as the Company had not made timely filings of its Securities and Exchange Commission filings. Presently, the Company is current with all of its filings with the SEC. 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 as of December 31, 2016 and December 31, 2015. On January 30, 2015, we 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 during the 12 months ended December 31, 2015. 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 December 30, 2015. 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 wherein 350,000 shares currently issued to EraStar for services, GETH may cancel and reissue a total of 370,000 shares to EraStar or assigns as directed for full consideration of contractual obligations. On December 1, 2016, the Company settled with the vendor by issuing 20,000 shares of the Company’s common stock. 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 Company’s 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. This Limited Liability Company was finalized on December 31, 2016 with no operational activity. On July 14, 2016, we received the Process Certification for our GEN 1 End of Life Tire Processing Solution from BHP Engineering & Construction, L.P. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 12 SUBSEQUENT EVENTS On January 12, 2017, we appointed Mr. Chris Smith, 47, to serve as a member of our Board of Directors. Mr. Smith was a principal of HE Capital S.A. upon its founding in 2000 until he resigned in 2014, but remains as a consultant. He is a licensed financial consultant to an international clientele and is on the Board of Black Lion Oil Ltd. On January 25, 2017, we issued 100,000 restricted common shares valued at $21,400 for services rendered. On January 31, 2017, we received the final installment of $100,000 from the $500,000 LOC2 we have with Chris Bowers our CEO. The funds were used for working capital. On February 9, 2017, we established GETH CFP, Inc., a wholly owned subsidiary, formed in Delaware. This subsidiary will be our new carbon finishing plant to be located in Ohio. On February 22, 2017, we approved the debt conversion request from H. E. Capital to convert $175,000 of our debt to H. E. Capital into 1,750,000 shares of our common stock at $0.10 per share. On March 8, 2017, at the request of H. E. Capital, we vacated the original agreement to convert $175,000 of our debt to H. E. Capital and entered into a new debt conversion agreement in the amount of $130,000 to convert 1,300,000 shares of our common stock at $0.10 per share. As of the date of this filing, the shares have not been issued by the transfer agent. On March 3, 2017, we approved a new working capital loan with Chris Bowers in the amount up to $150,000 at 8% due December 31, 2017. The note has conversion rights into our common shares at $0.10 per share. On March 8, 2017, we received $100,000 of this loan. To date the remaining balance of $50,000 has not been received. On March 29, 2017, we entered into a lease and working capital credit facility with Caliber Capital & Leasing LLC and its assignee, Real Estate Acquisition Development Sales, LLC (“READS”). Under the agreements, READS is providing an initial commitment of up to $2.5 million for the construction of our first processing line in our centralized Carbon Finishing Plant in Ohio. The loan is dated for April 4, 2017 and to date we have not received our first draw. On March 29, 2017, we also signed the Master Equipment and Building Related Lease Agreement. The lease will have an initial term of seven years, after which we will have the option to purchase the facility from READS or renew the lease under the same terms. The commencement date is April 4, 2017. |
Summary of Significant Accoun19
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
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. The joint venture was dissolved effective December 31, 2016. Also included in the consolidated financial statements is Smart Fuel Solutions, Inc. formed under the laws of the state of Florida. We acquired 82.5% of Smart Fuel Solutions, Inc. on September 28, 2016; please refer to Note 8 for more detail. Intercompany balances and transactions were eliminated between the entities. |
Reclassifications | Reclassifications Certain reclassifications have been made to the prior period’s financial statements to conform to the current period’s 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, 2016 and 2015, 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. During the year end December 31, 2016, we incurred engineering and design costs on our first planned GEN 1 End of Life Tire Processing Plant. The engineering and design includes process flow diagrams, equipment specifications, building layout and piping and instrument drawings. These costs are carried in Construction in Progress. We invested in a new subsidiary during the year, Smart Fuel Solutions, Inc. (SFS). SFS acquired carbon equipment at a cost of $190,000 for our first carbon plant. When we acquired 82.5% ownership of SFS on September 28, 2016, we adjusted the value of the carbon equipment to $459,935 as a result of treating the acquisition as an asset purchase. We absorbed SFS’s liabilities and SFS’s assets which were based upon present value; please refer to Note 8 Acquisitions for more detail. The carbon equipment was not in service during the year, nor was it in service on December 31, 2016. Since the carbon equipment was not in service, there was no depreciation taken. |
Construction in Progress | Construction in Progress Construction in progress is stated at cost, which includes the costs of construction and other direct costs attributable to the construction. No provision for depreciation is made on construction in progress until such time as the relevant assets are completed and put into use. Interest on the borrowing related to construction is capitalized in accordance with ASC 835-20 Capitalization of Interest. |
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 2016 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 |
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. There are no intangible assets and as such we had no impairment charges for the years ended December 31, 2016 and 2015. |
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 recognize 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, 2016 and 2015, we estimated our forfeiture rate to be 0% based on the Company’s historical experience. There were no stock options granted to employees during the years ended December 31, 2016 and 2015. During the fiscal periods ended December 31, 2016 and 2015, 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 issuance 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 820’s 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. |
Related Party | Related Party The Company follows ASC 850, “ Related Party Disclosures,” |
Loan Payable - Related Party 20
Loan Payable - Related Party and Convertible (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of H E Capital Loans Activity | History of the H. E. Capital loans is as follows: December 31, 2016 December 31, 2015 Beginning Balance $ 241,582 $ 127,482 Proceeds 352,000 121,700 Vendors paid direct on behalf of the Company - 2,400 Reclassification from accounts payable & accruals 76,060 - Consulting fees 60,000 60,000 Assignments (190,000 ) (70,000 ) Non-cash conversion (42,905 ) - Ending Balance $ 496,737 $ 241,582 |
Stockholders' Equity (Deficit)
Stockholders' Equity (Deficit) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 Risk-free interest rate 1.28 % 1.25 % Dividend yield 0.00 % 0.00 % Expected volatility 276.00 % 110.24 % Expected term (in years) 3.0 5.0 Weighted average grant date fair value of warrants granted during the period $ 0.12 $ 0.10 |
Schedule of Warrants | The following table presents the warrant activity during 2016 and 2015: Weighted Average Warrants Exercise Price 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 $ 0.12 Exercisable as of December 31, 2015 3,012,800 $ 0.12 Outstanding - December 31, 2015 5,404,861 $ 0.10 Expired-Jan 24, 2016 (2,090 ) $ 24.16 Granted-Feb 1, 2016 1,500,000 $ 0.10 Expired-Aug 1, 2016 (1,429 ) $ 24.16 Granted-Aug 1, 2016 4,675,000 $ 0.10 Granted-Aug 28, 2016 1,860,000 $ 0.10 Granted-Aug 31, 2016 600,000 $ 0.10 Granted-Sept 2, 2016 1,380,000 $ 0.10 Granted-Sept 28, 2016 2,493,000 $ 0.10 Granted-Oct 7, 2016 1,000,000 $ 0.10 Granted-Nov 15, 2016 50,000 $ 0.50 Exercisable as of December 31, 2016 18,959,341 $ 0.10 Outstanding - December 31, 2016 18,959,341 $ 0.10 |
Asset Acquisition (Tables)
Asset Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The Company acquired the following assets and assumed the following liabilities in the acquisition of Smart Fuel Solutions, Inc.: Cash $ 40,671 Deposits 5,000 Other assets-carbon equipment 459,935 Accounts payable and accrued expenses (40,761 ) Due to related party: Green EnviroTech Holdings Corp. (265,761 ) Note Payable (134,000 ) Total Net Assets (Liabilities) before non-controlling interest $ 65,084 Less: non-controlling interest $ 11,374 Decrease of Smart Fuel’s liability to Green EnviorTech $ 53,710 |
Provision for Income Taxes (Tab
Provision for Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Net Deferred Tax Assets | Net Deferred Tax Assets consisted of the following components as of December 31, 2016 and 2015: Deferred Tax Assets: 2016 2015 NOL Carryover Tax Advantage $ 3,792,000 $ 3,479,500 Valuation allowance (3,792,000 ) (3,479,500 ) $ - $ - |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Feb. 29, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 28, 2016 | |
Interest costs capitalized | $ 980 | $ 0 | ||
Construction in progress | $ 262,980 | |||
Tax benefit that is greater than percentage | 50.00% | |||
Warrant rights exercise price | $ 0.10 | $ 0.10 | ||
Warrant expire date | Feb. 1, 2021 | Dec. 31, 2019 | ||
Convertible debt to related parties | $ 1,433,937 | |||
Debt discount amount | 900,000 | |||
Convertible debt | $ 149,295 | |||
Estimated forfeiture rate | 0.00% | 0.00% | ||
Convertible Debt One[Member] | ||||
Convertible debt | $ 96,800 | |||
Conversion price | $ 0.20 | |||
Convertible Debt Two[Member] | ||||
Convertible debt | $ 134,000 | |||
Conversion price | $ 0.50 | |||
Convertible Debt Three[Member] | ||||
Convertible debt | $ 496,737 | |||
Conversion price | $ 0.10 | |||
Convertible Debt Four[Member] | ||||
Convertible debt | $ 100,000 | |||
Conversion price | $ 0.10 | |||
Convertible Debt Five [Member] | ||||
Convertible debt | $ 49,295 | |||
Conversion price | $ 0.50 | |||
Warrants [Member] | ||||
Common stock warrants outstanding | 18,959,341 | 5,404,861 | ||
Common stock warrants convertible | 17,157,999 | |||
Warrant rights exercise price | $ 0.10 | $ 0.08 | ||
Warrant One[Member] | ||||
Common stock warrants convertible | 50,000 | |||
Warrant rights exercise price | $ 0.50 | |||
Warrants Two[Member] | ||||
Common stock warrants convertible | 1,000 | |||
Warrant rights exercise price | $ 10 | |||
Warrant expire date | Feb. 9, 2017 | |||
Warrants Three [Member] | ||||
Common stock warrants convertible | 1,750,342 | |||
Warrant rights exercise price | $ 0.08 | |||
Smart Fuel Solutions, Inc [Member] | ||||
Acquired percentage | 82.50% | |||
Acquired carbon equipment, cost | $ 190,000 | |||
Adjusted value of carbon equipment | $ 459,935 |
Loan Payable - Related Party 25
Loan Payable - Related Party and Convertible (Details Narrative) - USD ($) | Dec. 07, 2016 | Dec. 29, 2015 | Jul. 20, 2015 | Jul. 17, 2015 | Dec. 03, 2010 | Nov. 30, 2016 | Oct. 31, 2016 | Feb. 28, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Nov. 14, 2016 | Oct. 02, 2016 | Sep. 28, 2016 | Aug. 16, 2016 | Jul. 30, 2016 | May 18, 2016 | Mar. 31, 2016 | Feb. 29, 2016 | Feb. 02, 2016 |
Short-term Debt [Line Items] | ||||||||||||||||||||||
Conversion of loans payable for common stock | $ 45,000 | $ 534,544 | $ 56,175 | |||||||||||||||||||
Debt instruments converted into shares | 3,625,000 | 1,500,000 | 967,254 | 1,298,325 | ||||||||||||||||||
Convertible debt | $ 149,295 | |||||||||||||||||||||
Loan payable-related party | 1,433,937 | |||||||||||||||||||||
Accrued interest | $ 49,608 | |||||||||||||||||||||
Number of shares issued | 1,050,000 | 1,050,000 | 862,413 | |||||||||||||||||||
Operating loss | $ (2,066,998) | (690,393) | ||||||||||||||||||||
Debt discount amount | 900,000 | |||||||||||||||||||||
Debt discount amortized | $ 8,800 | |||||||||||||||||||||
Warrant rights exercise price | $ 0.10 | $ 0.10 | ||||||||||||||||||||
Line of Credit [Member] | Additional Stock Conversion Rights [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Conversion of loans payable for common stock | $ 100,000 | |||||||||||||||||||||
Debt conversion price per share | $ 0.20 | |||||||||||||||||||||
Debt instruments converted into shares | 500,000 | |||||||||||||||||||||
Conversion of stock, shares issued | 2,500,000 | |||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Line of credit | $ 12,500 | |||||||||||||||||||||
Notes payable, related parties | $ 134,000 | |||||||||||||||||||||
Debt accrued interest rate | 8.00% | 8.00% | ||||||||||||||||||||
Chief Executive Officer [Member] | Line of Credit One [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Line of credit | $ 500,000 | |||||||||||||||||||||
Chief Executive Officer [Member] | Line of Credit Two [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Line of credit | $ 500,000 | |||||||||||||||||||||
Chief Executive Officer [Member] | Line of Credit [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Line of credit | $ 900,000 | |||||||||||||||||||||
Debt conversion price per share | $ 0.20 | |||||||||||||||||||||
Debt extended due date | Dec. 31, 2017 | |||||||||||||||||||||
Accrued interest | $ 1,000,000 | |||||||||||||||||||||
Debt accrued interest rate | 1.00% | |||||||||||||||||||||
Interest expense | $ 10,000 | |||||||||||||||||||||
Debt discount amount | 105,600 | |||||||||||||||||||||
Debt discount amortized | 8,800 | |||||||||||||||||||||
H. E. Capital S.A [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Line of credit | $ 12,500 | |||||||||||||||||||||
Debt face amount | 12,500 | |||||||||||||||||||||
Conversion of loans payable for common stock | $ 12,500 | $ 42,905 | $ 30,000 | |||||||||||||||||||
Debt conversion price per share | $ 0.03 | $ 0.10 | ||||||||||||||||||||
Debt instruments converted into shares | 416,667 | |||||||||||||||||||||
Line of credit note reduced | $ 12,500 | $ 12,500 | ||||||||||||||||||||
Line of credit accrues interest rate | 8.00% | |||||||||||||||||||||
Debt extended due date | Dec. 31, 2017 | |||||||||||||||||||||
Financial services costs | $ 60,000 | 60,000 | ||||||||||||||||||||
Notes payable, related parties | 496,737 | 241,582 | ||||||||||||||||||||
Accrued interest | 125,625 | 99,719 | ||||||||||||||||||||
Operating loss | 25,706 | |||||||||||||||||||||
H. E. Capital S.A [Member] | Third Partie One [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Debt face amount | $ 10,000 | |||||||||||||||||||||
Debt conversion price per share | $ 0.10 | |||||||||||||||||||||
H. E. Capital S.A [Member] | Third Partie Two [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Debt face amount | $ 7,500 | |||||||||||||||||||||
H. E. Capital S.A [Member] | Related Party [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Debt face amount | $ 12,500 | |||||||||||||||||||||
Debt instruments converted into shares | 54,054 | |||||||||||||||||||||
H. E. Capital S.A [Member] | Debt Holder [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Conversion of loans payable for common stock | $ 42,905 | |||||||||||||||||||||
Debt instruments converted into shares | 720,721 | |||||||||||||||||||||
Convertible debt | $ 190,000 | 70,000 | ||||||||||||||||||||
Loan payable-related party | 352,000 | 121,700 | ||||||||||||||||||||
Accounts payable and accrued interest | 76,060 | 2,400 | ||||||||||||||||||||
Line of credit maximum borrowing | $ 121,700 | |||||||||||||||||||||
Valuecorp Trading Company [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Debt face amount | $ 25,000 | |||||||||||||||||||||
Entity One [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Debt face amount | 200,000 | |||||||||||||||||||||
Conversion of loans payable for common stock | $ 100,000 | |||||||||||||||||||||
Debt conversion price per share | $ 0.10 | |||||||||||||||||||||
Convertible debt | $ 100,000 | |||||||||||||||||||||
Black Lion Oil Limited [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Line of credit | $ 45,000 | |||||||||||||||||||||
Conversion of loans payable for common stock | $ 15,000 | |||||||||||||||||||||
Debt instruments converted into shares | 1,500,000 | 1,500,000 | ||||||||||||||||||||
Convertible debt | $ 45,000 | |||||||||||||||||||||
Valuecorp Trading [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Conversion of loans payable for common stock | $ 12,500 | |||||||||||||||||||||
Debt instruments converted into shares | 416,667 | |||||||||||||||||||||
Convertible debt | 12,500 | |||||||||||||||||||||
Number of shares issued | 833,333 | |||||||||||||||||||||
Third Partie Two [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Convertible debt | $ 12,500 | |||||||||||||||||||||
Vendor [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Number of shares issued | 125,000 | 25,000 | 150,000 | |||||||||||||||||||
Smart Fuel Solutions, Inc [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Debt conversion price per share | $ 0.50 | |||||||||||||||||||||
Notes payable, related parties | $ 134,000 | |||||||||||||||||||||
Accrued interest | 4,604 | $ 53,500 | ||||||||||||||||||||
Debt accrued interest rate | 8.00% | |||||||||||||||||||||
Bowers [Member] | Line of Credit [Member] | ||||||||||||||||||||||
Short-term Debt [Line Items] | ||||||||||||||||||||||
Line of credit | 250,000 | |||||||||||||||||||||
Line of credit maximum borrowing | $ 500,000 | |||||||||||||||||||||
Warrant rights | 500,000 | |||||||||||||||||||||
Warrant rights exercise price | $ 0.10 | |||||||||||||||||||||
Value of warrats drawn against line of credit | $ 100,000 |
Loan Payable - Related Party 26
Loan Payable - Related Party and Convertible - Schedule of H E Capital Loans Activity (Details) - USD ($) | Dec. 29, 2015 | Jul. 17, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Non-cash conversion | $ (45,000) | $ (534,544) | $ (56,175) | ||
H. E. Capital S.A [Member] | |||||
Beginning Balance | 241,582 | 127,482 | |||
Proceeds | 352,000 | 121,700 | |||
Vendors paid direct on behalf of the Company | 2,400 | ||||
Reclassification from accounts payable & accruals | 76,060 | ||||
Consulting fees | 60,000 | 60,000 | |||
Assignments | (190,000) | (70,000) | |||
Non-cash conversion | $ (12,500) | (42,905) | $ (30,000) | ||
Ending Balance | $ 496,737 | $ 241,582 | $ 127,482 |
Loan Payable - Other - Non-Co27
Loan Payable - Other - Non-Convertible (Details Narrative) - USD ($) | Jul. 02, 2016 | Dec. 29, 2015 | Jul. 17, 2015 | Mar. 19, 2013 | Nov. 15, 2012 | Apr. 13, 2011 | Aug. 10, 2010 | Feb. 25, 2010 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Oct. 02, 2016 | Jun. 30, 2016 | Dec. 31, 2012 | Nov. 16, 2012 |
Short-term Debt [Line Items] | |||||||||||||||
Debt conversion | $ 45,000 | $ 534,544 | $ 56,175 | ||||||||||||
H. E. Capital S.A [Member] | |||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||
Debt face amount | $ 12,500 | ||||||||||||||
Debt extended due date | Dec. 31, 2017 | ||||||||||||||
Debt conversion price per share | $ 0.03 | $ 0.10 | |||||||||||||
Debt conversion | $ 12,500 | $ 42,905 | $ 30,000 | ||||||||||||
Promissory Note On Individual One [Member] | |||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||
Debt face amount | $ 49,295 | $ 150,000 | $ 170,000 | $ 20,000 | |||||||||||
Debt accrued interest rate | 8.00% | 8.00% | 8.00% | 10.00% | |||||||||||
Repayment of debt | $ 2,500 | $ 10,000 | |||||||||||||
Debt extended due date | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |||||||||||
Debt conversion price per share | $ 0.50 | ||||||||||||||
Promissory Note On Individual One [Member] | Maximum [Member] | |||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||
Debt accrued interest rate | 12.00% | ||||||||||||||
Note One [Member] | |||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||
Loans payable | $ 7,500 | ||||||||||||||
Note One [Member] | H. E. Capital S.A [Member] | |||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||
Accrued interest, current | $ 6,533 | ||||||||||||||
Note Two [Member] | |||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||
Loans payable | $ 170,000 | ||||||||||||||
Accrued interest, current | 6,856 | $ 42,514 | |||||||||||||
New Note [Member] | |||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||
Debt accrued interest rate | 8.00% | ||||||||||||||
Loans payable | 170,000 | $ 170,000 | |||||||||||||
Accrued interest, current | $ 1,988 | $ 49,295 | |||||||||||||
Debt conversion price per share | $ 0.50 | $ 0.50 | |||||||||||||
Debt conversion | $ 49,295 |
Loan Payable - Other -Convert28
Loan Payable - Other -Convertible (Details Narrative) - USD ($) | Dec. 07, 2016 | Aug. 16, 2016 | Jul. 19, 2016 | Jul. 02, 2016 | May 16, 2016 | Dec. 29, 2015 | Jul. 20, 2015 | Jul. 17, 2015 | Jun. 08, 2015 | Mar. 19, 2013 | Nov. 15, 2012 | Apr. 13, 2011 | Dec. 03, 2010 | Aug. 10, 2010 | Feb. 25, 2010 | Nov. 30, 2016 | Oct. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Accrued interest | $ 49,608 | |||||||||||||||||||
Debt instruments converted into shares | 3,625,000 | 1,500,000 | 967,254 | 1,298,325 | ||||||||||||||||
Stock issued during period, shares, new issues | 1,050,000 | 1,050,000 | 862,413 | |||||||||||||||||
Stock issued during period, value, new issues | $ 168,722 | $ 168,722 | $ 162,500 | |||||||||||||||||
Debt conversion | $ 45,000 | 534,544 | $ 56,175 | |||||||||||||||||
Individual [Member] | ||||||||||||||||||||
Debt instruments converted into shares | 100,000 | |||||||||||||||||||
Debt conversion | $ 10,000 | |||||||||||||||||||
Private Company [Member] | ||||||||||||||||||||
Debt accrued interest rate | 8.00% | |||||||||||||||||||
Debt instrument, maturity date | Dec. 31, 2016 | |||||||||||||||||||
Debt extended due date | Dec. 31, 2017 | |||||||||||||||||||
Accrued interest | 6,422 | |||||||||||||||||||
Debt instruments converted into shares | 1,000,000 | |||||||||||||||||||
Debt conversion | $ 100,000 | |||||||||||||||||||
Debt conversion price per share | $ 0.10 | |||||||||||||||||||
Loans payable | $ 100,000 | |||||||||||||||||||
Valuecorp Trading [Member] | ||||||||||||||||||||
Debt instruments converted into shares | 416,667 | |||||||||||||||||||
Stock issued during period, shares, new issues | 833,333 | |||||||||||||||||||
Shares issued, price per share | $ 0.03 | |||||||||||||||||||
Stock issued during period, value, new issues | $ 25,000 | |||||||||||||||||||
Debt conversion | $ 12,500 | |||||||||||||||||||
Valuecorp Trading [Member] | H. E. Capital S.A [Member] | ||||||||||||||||||||
Payment of debt | $ 12,500 | |||||||||||||||||||
Line of credit | $ 12,500 | |||||||||||||||||||
H. E. Capital S.A [Member] | ||||||||||||||||||||
Debt face amount | $ 12,500 | |||||||||||||||||||
Debt extended due date | Dec. 31, 2017 | |||||||||||||||||||
Accrued interest | $ 125,625 | 99,719 | ||||||||||||||||||
Debt instruments converted into shares | 416,667 | |||||||||||||||||||
Line of credit | $ 12,500 | |||||||||||||||||||
Debt conversion | $ 12,500 | $ 42,905 | $ 30,000 | |||||||||||||||||
Debt conversion price per share | $ 0.03 | $ 0.10 | ||||||||||||||||||
H. E. Capital S.A [Member] | Individual [Member] | ||||||||||||||||||||
Line of credit | $ 10,000 | |||||||||||||||||||
H. E. Capital S.A [Member] | Private Company [Member] | ||||||||||||||||||||
Line of credit | $ 200,000 | |||||||||||||||||||
Promissory Note On Individual One [Member] | ||||||||||||||||||||
Debt face amount | $ 49,295 | $ 150,000 | $ 170,000 | $ 20,000 | ||||||||||||||||
Debt accrued interest rate | 8.00% | 8.00% | 8.00% | 10.00% | ||||||||||||||||
Debt instrument, maturity date | Dec. 31, 2016 | Mar. 18, 2014 | ||||||||||||||||||
Debt extended due date | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | ||||||||||||||||
Accrued interest | $ 170,000 | $ 48,123 | $ 1,988 | |||||||||||||||||
Debt instruments converted into shares | 396,246 | |||||||||||||||||||
Payment of debt | $ 2,500 | $ 10,000 | ||||||||||||||||||
Debt conversion price per share | $ 0.50 |
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, 2016 | Feb. 29, 2016 | Dec. 31, 2015 | Jan. 24, 2012 |
Warrant rights exercise price | $ 0.10 | $ 0.10 | |||||||
Reverse stock split | 100-for-1 reverse split | ||||||||
Secured debentures payable | $ 305,000 | $ 305,000 | |||||||
Accrued interest | 49,608 | ||||||||
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 | ||||||||
Secured Debenture Holders [Member] | |||||||||
Warrant rights exercise price | $ 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 | $ 237,220 | $ 200,010 | |||||||
Securities Purchase Agreements [Member] | |||||||||
Warrant rights exercise price | $ 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 | ||||||||
Warrant rights exercise price | $ 0.40 | ||||||||
Gross proceeds from subsequent financings | $ 1,000,000 | ||||||||
Debt term | 6 months | ||||||||
Note Outstanding One [Member] | |||||||||
Debt term | 1 year |
Stockholders' Equity (Deficit30
Stockholders' Equity (Deficit) (Details Narrative) - USD ($) | Sep. 28, 2016 | Aug. 31, 2016 | Jul. 20, 2015 | Jul. 17, 2015 | Feb. 28, 2015 | Jan. 31, 2015 | Mar. 27, 2013 | Nov. 30, 2016 | Oct. 31, 2016 | Feb. 29, 2016 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 14, 2014 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 | 25,000,000 | |||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||
Preferred stock, shares issued | 0 | 0 | 0 | |||||||||||
Preferred stock, shares outstanding | 0 | 0 | 0 | |||||||||||
Common stock, shares authorized | 250,000,000 | 250,000,000 | 250,000,000 | |||||||||||
Common stock, par value per share | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||
Common stock, shares outstanding | 28,517,597 | 28,517,597 | 23,926,757 | |||||||||||
Common stock reserve split | 100-for-1 reverse split | |||||||||||||
Unrecognized compensation expenses | $ 0 | $ 0 | $ 0 | |||||||||||
Debt instruments converted into shares | 3,625,000 | 1,500,000 | 967,254 | 1,298,325 | ||||||||||
Conversion of loans payable for common stock | $ 45,000 | $ 534,544 | $ 56,175 | |||||||||||
Gain loss on transaction | $ 42,661 | $ 42,661 | 6,529 | |||||||||||
Warrant exercise price | $ 0.10 | $ 0.10 | $ 0.10 | |||||||||||
Warrants vested during year | 1,000,000 | |||||||||||||
Fair value of warrants | $ 584,289 | |||||||||||||
Stock issued during period, shares, issued for services | 693,636 | |||||||||||||
Number of common shares issued for services | $ 153,143 | $ 171,892 | ||||||||||||
Stock issued during period converted to accounts payable | 439,070 | |||||||||||||
Stock issued during period converted to accounts payable, value | $ 229,535 | |||||||||||||
Stock issued during period of new issues | 1,050,000 | 1,050,000 | 862,413 | |||||||||||
Stock issued during period of new issues,value | $ 168,722 | $ 168,722 | $ 162,500 | |||||||||||
Accrued interest | 49,608 | $ 49,608 | ||||||||||||
Number of warrants issued for services, shares | 1,500,000 | |||||||||||||
Number of warrants issued for services, value | $ 30,000 | |||||||||||||
Warrant expire date | Feb. 1, 2021 | Dec. 31, 2019 | ||||||||||||
Common stock warrant | 3,519 | |||||||||||||
General and administrative expenses | $ 265,057 | $ 79,145 | ||||||||||||
Accrued salary | 721,749 | $ 721,749 | ||||||||||||
Smart Fuel Solutions [Member] | ||||||||||||||
Number of warrants issued for services, shares | 2,493,000 | |||||||||||||
Number of warrants issued for services, value | $ 249,300 | |||||||||||||
General and administrative expenses | $ 2,730 | |||||||||||||
Common Share [Member] | ||||||||||||||
Debt instruments converted into shares | 2,683,134 | |||||||||||||
Conversion of loans payable for common stock | $ 49,608 | |||||||||||||
Stock issued during period, shares, issued for services | 818,636 | |||||||||||||
Number of common shares issued for services | $ 171,892 | |||||||||||||
Common Share [Member] | Consulting Services [Member] | ||||||||||||||
Stock issued during period, shares, issued for services | 650,000 | |||||||||||||
Number of common shares issued for services | $ 188,435 | |||||||||||||
Accounts Payable [Member] | ||||||||||||||
Gain loss on transaction | 102,249 | $ 102,249 | ||||||||||||
July [Member] | Note [Member] | ||||||||||||||
Debt instruments converted into shares | 1,000,000 | |||||||||||||
Conversion of loans payable for common stock | $ 100,000 | |||||||||||||
Gain loss on transaction | $ 50,000 | $ 50,000 | ||||||||||||
Shares issued price per share | $ 0.10 | $ 0.10 | ||||||||||||
August [Member] | ||||||||||||||
Stock issued during period, shares, issued for services | 125,000 | |||||||||||||
Number of common shares issued for services | $ 18,750 | |||||||||||||
August [Member] | Note [Member] | ||||||||||||||
Debt instruments converted into shares | 820,721 | |||||||||||||
Conversion of loans payable for common stock | $ 52,905 | |||||||||||||
In October And November [Member] | ||||||||||||||
Warrant exercise price | $ 0.50 | $ 0.50 | ||||||||||||
Warrants vested during year | 50,000 | |||||||||||||
Warrant expire date | Nov. 15, 2019 | |||||||||||||
Consulting Service [Member] | ||||||||||||||
Stock issued during period, shares, issued for services | 650,000 | |||||||||||||
Number of common shares issued for services | $ 188,435 | |||||||||||||
Stock amortization term | 6 months | |||||||||||||
CEO [Member] | Line of Credit [Member] | ||||||||||||||
Stock issued during period, shares, issued for services | 3,675,000 | |||||||||||||
Common stock warrant | 2,000,000 | |||||||||||||
Wayne Leggett [Member] | ||||||||||||||
Stock issued during period, shares, issued for services | 250,000 | |||||||||||||
Gary De Laurentiis [Member] | ||||||||||||||
Warrant exercise price | $ 0.10 | |||||||||||||
Fair value of warrants | $ 59,266 | $ 59,266 | ||||||||||||
Number of warrants issued for services, shares | 1,000,000 | |||||||||||||
Warrants received | 600,000 | 600,000 | ||||||||||||
Accrued salary | $ 417,100 | $ 417,100 | ||||||||||||
Five Current and Former Employees [Member] | During August And September [Member] | ||||||||||||||
Common stock warrant | 3,840,000 | 3,840,000 | ||||||||||||
Aggregate accrued and unpaid salary | $ 2,154,135 | |||||||||||||
Related Party [Member] | ||||||||||||||
Stock issued during period, shares, conversion of convertible securities | 15,000,000 | |||||||||||||
Stock issued during period, value, convertible securities | $ 45,000 | |||||||||||||
Conversion of shares into salaries | 3,625,000 | |||||||||||||
Conversion of shares into salaries, value | $ 145,000 | |||||||||||||
H. E. Capital [Member] | August [Member] | ||||||||||||||
Debt instruments converted into shares | 720,721 | |||||||||||||
Gain loss on transaction | $ 76,870 | $ 76,870 | ||||||||||||
Five Current and Former Employees [Member] | Gary De Laurentiis [Member] | During August And September [Member] | ||||||||||||||
Warrant exercise price | $ 0.10 | $ 0.10 | ||||||||||||
Warrant expire date | Dec. 31, 2019 | |||||||||||||
Common stock warrant | 6,000,000 | 6,000,000 | ||||||||||||
Aggregate accrued and unpaid salary | $ 417,100 | |||||||||||||
Related Parties [Member] | ||||||||||||||
Number of warrants issued for services, shares | 1,568,000 | |||||||||||||
Warrants [Member] | ||||||||||||||
Weighted average remaining contractual life | 2 years 11 months 1 day | 4 years 6 months 7 days | ||||||||||||
Aggregate intrinsic value of outstanding warrants | $ 2,713,758 | $ 2,713,758 | $ 0 | |||||||||||
Issuance of common stock warrants | 650,000 | |||||||||||||
Warrant exercise price | $ 0.10 | $ 0.10 | $ 0.08 | |||||||||||
Number of warrants issued for services, shares | 1,250,000 | |||||||||||||
Number of warrants issued for services, value | $ 187,500 | |||||||||||||
Warrants [Member] | Engineer [Member] | ||||||||||||||
Issuance of common stock warrants | 875,171 | 1,500,000 | ||||||||||||
Warrants term | 5 years | 5 years | ||||||||||||
Warrant exercise price | $ 0.08 | $ 0.10 | ||||||||||||
Issuance of warrants vest, per month | 62,500 | |||||||||||||
Warrants vested during year | 687,500 | |||||||||||||
Fair value of warrants | $ 34,926 | |||||||||||||
Number of warrants vest in month of starting | 79,561 | |||||||||||||
Number of warrants fully vested | 795,610 | |||||||||||||
Warrants [Member] | Engineer [Member] | In February 2015 [Member] | ||||||||||||||
Warrants vested during year | 36,766 | |||||||||||||
Warrants [Member] | Consultant [Member] | ||||||||||||||
Issuance of common stock warrants | 1,500,000 | |||||||||||||
Warrants term | 5 years | |||||||||||||
Warrant exercise price | $ 0.10 | |||||||||||||
Fair value of warrants | $ 27,588 | |||||||||||||
Warrants [Member] | Attorney [Member] | ||||||||||||||
Issuance of common stock warrants | 875,171 | 390,000 | ||||||||||||
Issuance of common stock, value | $ 59,011 | |||||||||||||
Warrants vested during year | 175,034 | 260,000 | ||||||||||||
Fair value of warrants | $ 27,090 | |||||||||||||
Warrants [Member] | Attorney [Member] | In February 2015 [Member] | ||||||||||||||
Fair value of warrants | $ 46,189 | |||||||||||||
Warrants [Member] | Gary De Laurentiis [Member] | ||||||||||||||
Fair value of warrants | $ 148,952 | |||||||||||||
Number of warrants issued for services, shares | 1,000,000 | |||||||||||||
Warrant expire date | Dec. 31, 2019 | |||||||||||||
Warrant One[Member] | ||||||||||||||
Warrant exercise price | 0.50 | $ 0.50 | ||||||||||||
Warrant One[Member] | CEO [Member] | ||||||||||||||
Warrant exercise price | $ 0.10 | $ 0.10 | ||||||||||||
Warrant expire date | Dec. 31, 2019 | |||||||||||||
Common stock warrant | 3,625,000 | 3,625,000 | ||||||||||||
Warrants Two[Member] | ||||||||||||||
Warrant exercise price | $ 10 | $ 10 | ||||||||||||
Warrant expire date | Feb. 9, 2017 | |||||||||||||
Warrants Two[Member] | CEO [Member] | ||||||||||||||
Warrant exercise price | $ 0.50 | $ 0.50 | ||||||||||||
Common stock warrant | 50,000 | 50,000 | ||||||||||||
Common Stock Warrants [Member] | ||||||||||||||
Number of warrants issued for services, shares | 6,225,000 | |||||||||||||
Number of warrants issued for services, value | $ 783,011 | |||||||||||||
Common Stock Warrants [Member] | CEO [Member] | ||||||||||||||
Number of warrants issued for services, shares | 2,000,000 | |||||||||||||
Common Stock Warrants [Member] | Gary De Laurentiis [Member] | ||||||||||||||
Number of warrants issued for services, shares | 1,000,000 | |||||||||||||
Number of warrants issued for services, value | $ 148,952 | |||||||||||||
Common Stock Warrants [Member] | Other Related Parties [Member] | ||||||||||||||
Number of warrants issued for services, shares | 1,500,000 | |||||||||||||
Number of warrants issued for services, value | $ 225,000 |
Stockholders' Equity (Deficit31
Stockholders' Equity (Deficit) - Schedule of Assumptions Used to Value Warrants (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Equity [Abstract] | ||
Risk-free interest rate | 1.28% | 1.25% |
Dividend yield | 0.00% | 0.00% |
Expected volatility | 276.00% | 110.24% |
Expected term (in years) | 3 years | 5 years |
Weighted average grant date fair value of warrants granted during the period | $ 0.10 | $ 0.10 |
Stockholders' Equity (Deficit32
Stockholders' Equity (Deficit) - Schedule of Warrants (Details) - Warrants [Member] - $ / shares | Nov. 15, 2016 | Oct. 07, 2016 | Sep. 28, 2016 | Sep. 02, 2016 | Aug. 31, 2016 | Aug. 28, 2016 | Aug. 01, 2016 | Feb. 02, 2016 | Jan. 24, 2016 | Feb. 24, 2015 | Feb. 20, 2015 | Jan. 02, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
Warrants Outstanding, beginning balance | 5,404,861 | 654,519 | ||||||||||||
Warrants, Granted | 50,000 | 1,000,000 | 2,493,000 | 1,380,000 | 6,000,000 | 1,860,000 | 4,675,000 | 1,500,000 | 875,171 | 875,171 | 3,000,000 | |||
Warrants, Expired | (1,429) | (2,090) | ||||||||||||
Warrants, Exercisable | 18,959,342 | 3,012,800 | ||||||||||||
Warrants Outstanding, ending balance | 18,959,342 | 5,404,861 | ||||||||||||
Weighted Average Exercise Price Outstanding, beginning balance | $ 0.10 | $ 0.24 | ||||||||||||
Weighted Average Exercise Price, Granted | $ 0.50 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.12 | $ 0.08 | $ 0.10 | |||
Weighted Average Exercise Price, Expired | $ 24.16 | $ 24.16 | ||||||||||||
Weighted Average Exercise Price Outstanding, Exercisable | 0.10 | 0.12 | ||||||||||||
Weighted Average Exercise Price Outstanding, ending balance | $ 0.10 | $ 0.10 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Aug. 31, 2016 | Aug. 02, 2016 | Jul. 20, 2015 | Jul. 17, 2015 | Feb. 29, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2016 |
Number of common shares issued for conversion, shares | 3,625,000 | 1,500,000 | 967,254 | 1,298,325 | ||||
Debt conversion | $ 45,000 | $ 534,544 | $ 56,175 | |||||
Number of common shares issued for accrued salary | $ 145,000 | |||||||
Fair value of warrant | $ 584,289 | |||||||
Accounts payable-related party | $ 6,625 | |||||||
Number of warrants issued for services, shares | 1,500,000 | |||||||
Number of warrants issued for services, value | $ 30,000 | |||||||
Warrants [Member] | ||||||||
Number of warrants issued for services, shares | 1,250,000 | |||||||
Number of warrants issued for services, value | $ 187,500 | |||||||
CEO [Member] | ||||||||
Number of warrant issued, shares | 2,000,000 | |||||||
Accounts payable-related party | $ 917 | |||||||
Chief Executive Officer [Member] | ||||||||
Number of warrants to purchase common stock, amount | $ 148,952 | |||||||
Number of warrants to purchase common stock, shares | 1,000,000 | |||||||
Chris Bowers [Member] | ||||||||
Number of warrants to purchase common stock, amount | $ 300,000 | |||||||
Number of warrants to purchase common stock, shares | 2,000,000 | |||||||
Gary DeLaurentiis [Member] | ||||||||
Number of warrant issued, shares | 600,000 | |||||||
Number of warrants converted into accrued salaries | $ 417,100 | |||||||
Fair value of warrant | 59,266 | $ 59,266 | ||||||
Gain on conversion of additional paid in capital | $ 357,734 | |||||||
Number of warrants issued for services, shares | 1,000,000 | |||||||
Gary DeLaurentiis [Member] | Warrants [Member] | ||||||||
Fair value of warrant | $ 148,952 | |||||||
Number of warrants issued for services, shares | 1,000,000 | |||||||
Former and Current Employees and CEO [Member] | ||||||||
Number of warrant issued, shares | 3,240,000 | |||||||
Number of warrants converted into accrued salaries | $ 1,737,032 | |||||||
Fair value of warrant | 393,505 | |||||||
Gain on conversion of additional paid in capital | $ 1,351,502 |
Asset Acquisition (Details Narr
Asset Acquisition (Details Narrative) | Sep. 28, 2016USD ($)shares |
Smart Fuel Solutions, Inc and Florida Corporation [Member] | |
Common stock received in acquisitions | 17,000,000 |
Smart Fuel liability [Member] | |
Amount decreased in acquisition | $ | $ 53,710 |
Smart Fuel Solutions, Inc and Black Lion Oil Limited [Member] | |
Common stock received in acquisitions | 3,000,000 |
Smart Fuel Solutions [Member] | |
Sales of shares, acquisitions | 600,000 |
Stock issued during period, value, acquisitions | $ | $ 600,000 |
Asset Acquisition - Schedule of
Asset Acquisition - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) | Dec. 31, 2016USD ($) |
Business Combinations [Abstract] | |
Cash | $ 40,671 |
Deposits | 5,000 |
Other assets-carbon equipment | 459,935 |
Accounts payable and accrued expenses | (40,761) |
Due to related party: Green EnviroTech Holdings Corp. | (265,761) |
Note Payable | (134,000) |
Total Net Assets (Liabilities) before non-controlling interest | 65,084 |
Less: non-controlling interest | 11,374 |
Decrease of Smart Fuel’s liability to Green EnviorTech | $ 53,710 |
Provision for Income Taxes (Det
Provision for Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Income Tax Disclosure [Abstract] | |
Income tax percentage | 25.00% |
Net operating loss carry-forwards | $ 11,153,000 |
Inocme tax expiration year | through 2,036 |
Provision for Income Taxes - Sc
Provision for Income Taxes - Schedule of Net Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||
NOL Carryover Tax Advantage | $ 3,792,000 | $ 3,479,500 |
Valuation allowance | (3,792,000) | (3,479,500) |
Net deferred tax assets |
Commitments (Details Narrative)
Commitments (Details Narrative) | Dec. 02, 2016shares | Jul. 02, 2015 | Jun. 29, 2015USD ($) | May 13, 2015USD ($)shares | Jan. 30, 2015USD ($) | Jun. 01, 2013USD ($)ft²shares | Sep. 30, 2014shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2013USD ($) | Jul. 01, 2015 |
Accrued interest | $ 49,608 | $ 49,608 | ||||||||||
License fee | $ (120,028) | |||||||||||
Number of common stock shares issued for services | shares | 693,636 | |||||||||||
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 assigned interest back to company | 98.00% | |||||||||||
Percentage of ownership of another company | 99.00% | |||||||||||
Vendor [Member] | ||||||||||||
Common shares issued to settle disputed obligation, shares | shares | 20,000 | |||||||||||
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 | |||||||||||
Black Lion Oil Limited [Member] | ||||||||||||
Payment of fees | $ 100,000 | |||||||||||
Percentage of royalties rate | 5.00% | |||||||||||
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] | 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 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | Mar. 29, 2017 | Mar. 08, 2017 | Mar. 03, 2017 | Feb. 22, 2017 | Jan. 25, 2017 | Jul. 20, 2015 | Jul. 17, 2015 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Jan. 31, 2017 |
Number of common stock shares issued for services | 693,636 | ||||||||||
Number of common shares issued for services | $ 153,143 | $ 171,892 | |||||||||
Convertible debt | $ 149,295 | $ 149,295 | |||||||||
Debt instruments converted into shares | 3,625,000 | 1,500,000 | 967,254 | 1,298,325 | |||||||
Conversion of loans payable for common stock | $ 45,000 | $ 534,544 | $ 56,175 | ||||||||
Subsequent Event [Member] | |||||||||||
Line of credit | $ 100,000 | ||||||||||
Debt face amount | $ 50,000 | ||||||||||
Loan receivable | 100,000 | ||||||||||
Subsequent Event [Member] | H. E. Capital [Member] | |||||||||||
Convertible debt | $ 175,000 | ||||||||||
Debt instruments converted into shares | 1,300,000 | 1,750,000 | |||||||||
Conversion of loans payable for common stock | $ 130,000 | $ 175,000 | |||||||||
Conversion price per share | $ 0.10 | $ 0.10 | |||||||||
Subsequent Event [Member] | Real Estate Acquisition Development Sales, LLC [Member] | |||||||||||
Construction cost | $ 2,500,000 | ||||||||||
Subsequent Event [Member] | Chris Bowers [Member] | |||||||||||
Line of credit | $ 500,000 | ||||||||||
Debt face amount | $ 150,000 | ||||||||||
Debt interest rate | 8.00% | ||||||||||
Debt maturity date | Dec. 31, 2017 | ||||||||||
Conversion price per share | $ 0.10 | ||||||||||
Subsequent Event [Member] | Restricted Stock [Member] | |||||||||||
Number of common stock shares issued for services | 100,000 | ||||||||||
Number of common shares issued for services | $ 21,400 |