Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 15, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'EHOUSEGLOBAL, INC. | ' |
Entity Central Index Key | '0001452580 | ' |
Trading Symbol | 'ehos | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 99,800,000 |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Balance_Sheets_Unaudited
Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Current Assets: | ' | ' | ||
Cash | $56,207 | $1,606 | ||
Other current assets | 6,204 | 8,370 | ||
Total current assets | 62,411 | 9,976 | ||
Other Assets | 4,026 | ' | ||
TOTAL ASSETS | 66,437 | 9,976 | ||
Current Liabilities: | ' | ' | ||
Notes payable | 162,000 | ' | ||
Accounts payable | ' | 17,709 | ||
Accrued expenses | 29,040 | 8,512 | ||
Total current liabilities | 191,040 | 26,221 | ||
Stockholders' (Deficit): | ' | ' | ||
Preferred stock: $0.001 par value; 1,000,000 shares authorized; no shares issued or outstanding | ' | ' | ||
Common stock: $0.001 par value; 250,000,000 shares authorized; 99,800,000 and 98,800,000 shares issued and outstanding | 99,800 | [1] | 98,800 | [1] |
Additional paid-in capital | 20,000 | 20,000 | ||
Accumulated deficit | -244,403 | -135,045 | ||
Total stockholders' (deficit) | -124,603 | -16,245 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) | $66,437 | $9,976 | ||
[1] | Gives retroactive effect to 34 for 1 forward stock split declared in January 2013 and the reverse merger that took place on June 30, 2013. |
Balance_Sheets_Unaudited_Paren
Balance Sheets (Unaudited) (Parentheticals) (USD $) | 1 Months Ended | ||
Jan. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Statement of Financial Position [Abstract] | ' | ' | ' |
Preferred stock, par value (in dollars per share) | ' | $0.00 | $0.00 |
Preferred stock, shares authorized | ' | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' |
Common stock, par value (in dollars per share) | ' | $0.00 | $0.00 |
Common stock, shares authorized | ' | 250,000,000 | 250,000,000 |
Common stock, shares issued | ' | 99,800,000 | 98,800,000 |
Common stock, shares outstanding | ' | 99,800,000 | 98,800,000 |
Stock split description | '34 for 1 forward stock split | ' | ' |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | 104 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |||||
Income Statement [Abstract] | ' | ' | ' | ' | ' | ||||
Revenue | ' | ' | ' | ' | $2,812 | ||||
Cost of sales | ' | ' | ' | ' | 1,012 | ||||
Gross profit | ' | ' | ' | ' | 1,800 | ||||
Expenses | ' | ' | ' | ' | ' | ||||
Management and administrative | 98,018 | ' | 98,018 | ' | 98,018 | ||||
Development costs | 15,000 | ' | 15,000 | 16,875 | 31,875 | ||||
Other | ' | ' | 3,639 | 2,492 | 16,297 | ||||
Total Operating Expense | -113,018 | ' | 116,657 | 19,367 | 146,190 | ||||
Other - net | ' | ' | 11,632 | ' | 11,632 | ||||
Corporate expenses prior to reverse merger | ' | ' | ' | ' | -107,312 | ||||
Income (loss) before interest and taxes | 113,018 | ' | -105,025 | -19,367 | -240,070 | ||||
Interest | 4,333 | ' | 4,333 | ' | 4,333 | ||||
Income taxes | ' | ' | ' | ' | ' | ||||
Net Income (loss) | ($117,351) | ' | ($109,358) | ($19,367) | ($244,403) | ||||
Net income (loss) per common share - basic and diluted (in dollars per share) | $0 | $0 | $0 | $0 | ' | ||||
Weighted average number of common shares outstanding - basic and diluted (in shares) | 99,800,000 | [1] | 98,800,000 | [1] | 99,133,333 | [1] | 98,800,000 | [1] | ' |
[1] | Gives retroactive effect to 34 for 1 forward stock split declared in January 2013 and the reverse merger that took place on June 30, 2013. |
Statements_of_Operations_Unaud1
Statements of Operations (Unaudited) (Parentheticals) | 1 Months Ended |
Jan. 31, 2013 | |
Income Statement [Abstract] | ' |
Stock split description | '34 for 1 forward stock split |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | 104 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income (loss) | ($109,358) | ($19,367) | ($244,403) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Change in net operating assets | 5,985 | 51 | 22,836 |
Net Cash Used in Operating Activities | -103,373 | -19,316 | -221,567 |
CASH FROM INVESTING ACTIVITIES- Purchase of Other Assets | -4,026 | ' | -4,026 |
CASH FROM FINANCING ACTIVITIES: | ' | ' | ' |
Capital contributions | ' | 20,000 | 119,800 |
Proceeds from loans | 162,000 | ' | 162,000 |
Net Cash Used in Financing Activities | 162,000 | 20,000 | 281,800 |
CHANGE IN CASH | 54,601 | 684 | 56,207 |
CASH AT BEGINNING OF PERIOD | 1,606 | 113 | ' |
CASH AT END OF PERIOD | 56,207 | 797 | 56,207 |
NONCASH TRANSACTIONS: | ' | ' | ' |
Issuance of shares in connection with loan | $1,000 | ' | ' |
Statement_of_Stockholders_Equi
Statement of Stockholders' Equity (USD $) | Common Shares | Additional Paid-in Capital | Accumulated (Deficit) during the Development Stage | Total | |||
Balance at Dec. 31, 2010 | [1] | $98,800 | ' | ($107,312) | ($8,512) | ||
Balance (in shares) at Dec. 31, 2010 | [1] | 98,800,000 | ' | ' | ' | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | |||
Net income (loss) | ' | [1] | ' | [1] | -9,047 | -9,047 | |
Balance at Dec. 31, 2011 | 98,800 | [1] | ' | [1] | -116,359 | -17,559 | |
Balance (in shares) at Dec. 31, 2011 | [1] | 98,800,000 | ' | ' | ' | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | |||
Capital contribution | ' | [1] | 20,000 | [1] | ' | 20,000 | |
Net income (loss) | ' | ' | [1] | -18,686 | -18,686 | ||
Balance at Dec. 31, 2012 | 98,800 | [1] | 20,000 | [1] | -135,045 | -16,245 | |
Balance (in shares) at Dec. 31, 2012 | 98,800,000 | [1] | ' | ' | 98,800,000 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | |||
Issuance of shares in connection with Senior Note | 1,000 | [1] | ' | [1] | ' | 1,000 | |
Issuance of shares in connection with Senior Note (in shares) | 1,000,000 | [1] | ' | ' | ' | ||
Net income (loss) | ' | [1] | ' | [1] | -109,358 | -109,358 | |
Balance at Sep. 30, 2013 | $99,800 | [1] | $20,000 | [1] | ($244,403) | ($124,603) | |
Balance (in shares) at Sep. 30, 2013 | 99,800,000 | [1] | ' | ' | 99,800,000 | ||
[1] | Gives retroactive effect to 34 for 1 forward stock split declared in January 2013 and the reverse merger that took place on June 30, 2013. |
Statement_of_Stockholders_Equi1
Statement of Stockholders' Equity (Parentheticals) | 1 Months Ended |
Jan. 31, 2013 | |
Statement of Stockholders' Equity [Abstract] | ' |
Stock split description | '34 for 1 forward stock split |
ACCOUNTING_POLICIES_AND_BASIS_
ACCOUNTING POLICIES AND BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies And Basis Of Presentation [Abstract] | ' |
ACCOUNTING POLICIES AND BASIS OF PRESENTATION | ' |
NOTE 1 – ACCOUNTING POLICIES AND BASIS OF PRESENTATION | |
Veterans In Packaging, Inc. was incorporated under the laws of the Commonwealth of Massachusetts on February 11, 2005 and became a corporation in the State of Nevada on January 7, 2009. It changed its name to Ehouse Global, Inc. (“Ehouse” or the “Company”) in January 2013. The Company sold protective packaging solutions for product shipment principally to defense contractors in New England. | |
The Company declared a 34 for 1 forward split of its common stock in January 2013. All share and per share amounts in these financial statements and notes thereto give retroactive effect to the forward split | |
Reverse Merger and Spinoff | |
Effective June 30, 2013, Ehouse entered into a Share Exchange Agreement (the “Exchange Agreement”) by and among (i) Ehouse (ii) NutraLiquids, LLC and (iii) the shareholders of NutraLiquids, pursuant to which the holders of 100% of the outstanding units of NutraLiquids transferred to Ehouse all of the units of NutraLiquids in exchange for the issuance of 52,000,000 shares (the “Shares”) of Ehouse common stock (the “Share Exchange”). As a result of the Share Exchange, NutraLiquids became a wholly-owned subsidiary of Ehouse. | |
Effective June 30, 2013, Ehouse entered into a Spinoff Agreement with Scott Corlett, its former President and largest shareholder, under which Ehouse assigned and transferred to Mr. Peplinski all of Ehouse’s rights, title and interest in and to the operating assets specifically associated with its packaging business in exchange for which Mr. Corlett agreed to assume the operating liabilities specifically associated with the packaging business as defined in the Agreement and return 198,000,000 shares of Ehouse’s common stock owned by him. | |
As a result of the Spinoff Agreement, Ehouse ceased to be a company engaged in the commercial packaging market. Ehouse’s operations are now conducted through NutraLiquids and primarily consist of development of and plan to sell liquid nutritional beverages. | |
The merger was accounted for as a reverse acquisition and recapitalization. NutraLiquids is the acquirer for accounting purposes, and Ehouse is the issuer. Accordingly, NutraLiquids' historical financial statements for periods prior to the acquisition become those of the acquirer retroactively restated for the equivalent number of shares issued in the merger. Reported operations prior to the merger are those of NutraLiquids. No Ehouse operating results from prior to the merger date are included in reported financial statements of operations. Earnings per share for the period prior to the merger are restated to reflect the equivalent number of shares outstanding. | |
Presentation | |
The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and six-month periods ended June 30, 2013 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2013. | |
The Company cannot take advantage of being an emerging growth company under the JOBS Act because it had gone public prior to December 8, 2011. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Development Stage Company | |
The Company is a development stage company as defined by section 915-10-20 of the FASB Accounting Standards Codification. The Company is still devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. | |
Estimates and Assumptions | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Cash Equivalents | |
The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |
Fair Value of Financial Instruments | |
The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable approximates the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2012 and 2011. | |
The Company does not have any assets or liabilities measured at fair value on a recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at June 30, 2013 or December 31, 2012. | |
Revenue Recognition | |
The Company will follow paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. | |
Net Income (Loss) Per Common Share | |
Basic Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of September 30, 2013. | |
Commitments and Contingencies | |
The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. | |
Subsequent Events | |
The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company evaluates subsequent events from the date of the balance sheet through the date when the financial statements are issued. The Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them with the SEC on the EDGAR system. | |
Impact of New Accounting Standards | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations |
GOING_CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2013 | |
Going Concern [Abstract] | ' |
GOING CONCERN | ' |
NOTE 3 – GOING CONCERN | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying financial statements, the Company is in the development stage and had not begun generating revenues at September 30, 2013. It has no source of ongoing debt or equity financing and has working capital and net capital deficiencies. | |
While the Company is emphasizing new product lines involving the sale liquid nutritional beverages, there are uncertainties as to whether the Company will obtain sufficient financing to introduce and distribute the planned product or, if distributed, there will be sufficient market demand for the products. | |
The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
NOTES_PAYABLE
NOTES PAYABLE | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
NOTES PAYABLE | ' |
NOTE 4 – NOTES PAYABLE | |
Senior Note | |
On June 30, 2013, the Company entered into a senior loan agreement with Realty Capital Management Limited (the “Note”) for a loan of $100,000. The loan, which becomes due 365 days after cash proceeds are received by the Company, bears interest at 12% per annum with interest payable in four quarterly payments commencing 90 days after cash proceeds from the loan is received by the Company. The Company received the proceeds from the loan on July 11, 2013. | |
The Note is senior to all other notes or obligations that the Company may enter into in the future before the Note is repaid. It also places limits on the number of common shares or instruments convertible into common shares that the Company may issue. | |
The Company also agreed to issue 1,000,000 newly-issued shares of its common stock to the lender. These shares have piggyback registration rights. These shares were issued on July 26, 2013 at which time there were 99,800,000 shares of common stock outstanding The Company recorded interest expense of $1,000 at the time of issuance of these shares. The interest expense was calculated for this issuance based on the par value of the shares issued or $0.001 per share. At the time of issuance, the Company had a stockholders’ deficit, no shares had been purchased for cash and there was no market in the shares. | |
The President of the Company has pledged 42,900,000 shares of his common stock of the Company as collateral for the loan. In the event of an Event of Default that is not remedied as defined in the Loan Agreement, the lender would also have the right to convert the principal balance of the loan into common shares of the Company at the rate of $0.001 per share (for up to 100 million shares). | |
If an Event of Default occurs and the lender converts the Note, the lender will have a controlling interest in the Company. | |
Related Party Loan | |
The Company’s President has made a loan of $62,000 to the Company. The loan is interest-free and due on demand. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 5 – SUBSEQUENT EVENTS | |
The Company has evaluated all events that occurred after the balance sheet date of September 30, 2013 through November 14, 2013, the date that these financial statements were issued. The Management of the Company determined that there were no reportable events that occurred during that subsequent period to be disclosed or recorded. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Development Stage Company | ' |
Development Stage Company | |
The Company is a development stage company as defined by section 915-10-20 of the FASB Accounting Standards Codification. The Company is still devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. | |
Estimates and Assumptions | ' |
Estimates and Assumptions | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Cash Equivalents | ' |
Cash Equivalents | |
The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable approximates the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2012 and 2011. | |
The Company does not have any assets or liabilities measured at fair value on a recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at June 30, 2013 or December 31, 2012. | |
Revenue Recognition | ' |
Revenue Recognition | |
The Company will follow paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. | |
Net Income (Loss) Per Common Share | ' |
Net Income (Loss) Per Common Share | |
Basic Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of September 30, 2013. | |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. | |
Subsequent Events | ' |
Subsequent Events | |
The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company evaluates subsequent events from the date of the balance sheet through the date when the financial statements are issued. The Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them with the SEC on the EDGAR system. | |
Impact of New Accounting Standards | ' |
Impact of New Accounting Standards | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations |
ACCOUNTING_POLICIES_AND_BASIS_1
ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Detail Textuals) | 1 Months Ended | ||
Jan. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | |
Share Exchange Agreement | Spinoff Agreement | ||
Nutra Liquids LLC | Scott Corlett | ||
Accounting Policies And Basis Of Presentation [Line Items] | ' | ' | ' |
Forward split ratio | 34 | ' | ' |
Stock split description | '34 for 1 forward stock split | ' | ' |
Percentage owned by parent | ' | 100.00% | ' |
Common stock shares issued in exchange for units transferred | ' | 52,000,000 | ' |
Number of shares received in exchange for operating liabilities | ' | ' | 198,000,000 |
NOTES_PAYABLE_Detail_Textuals
NOTES PAYABLE (Detail Textuals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Jul. 26, 2013 | Jul. 26, 2013 | Sep. 30, 2013 | Jul. 26, 2013 | Jun. 30, 2013 | ||||
President | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Realty Capital Management Limited | Realty Capital Management Limited | Senior loan agreement | Senior Note | Senior Note | |||||||
President | Common Stock | Realty Capital Management Limited | Senior loan agreement | Senior loan agreement | |||||||||||||
Common Stock | Realty Capital Management Limited | ||||||||||||||||
Installment | |||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Amount of loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ||||
Loan, interest rate percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ||||
Number of quarterly installments for interest payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ||||
Maturity period specified for loan after cash proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '365 days | ||||
Loan payment description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The loan, which becomes due 365 days after cash proceeds are received by the Company, bears interest at 12% per annum with interest payable in four quarterly payments commencing 90 days after cash proceeds from the loan is received by the Company. | ||||
Issuance of shares in connection with Senior Note (in shares) | ' | ' | ' | 1,000,000 | [1] | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | |||
Common stock, shares outstanding | 99,800,000 | 98,800,000 | ' | 99,800,000 | [1] | 98,800,000 | [1] | 98,800,000 | [1] | 98,800,000 | [1] | ' | 99,800,000 | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ||||
Issue price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ||||
Number of shares pledged as collateral | ' | ' | ' | ' | ' | ' | ' | 42,900,000 | ' | ' | ' | ' | ' | ||||
Conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ||||
Number of shares issued upon conversion of loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ||||
Related party loan | ' | ' | $62,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
[1] | Gives retroactive effect to 34 for 1 forward stock split declared in January 2013 and the reverse merger that took place on June 30, 2013. |