World Moto (FARE) 10-Q 7 Sep 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	World Moto, Inc.
Entity Central Index Key	1,492,151
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,490,145,045

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 3,405	$ 3,432
Prepaid expenses and other current assets	15,009	16,810
Total current assets	18,414	20,242
Property and equipment, net of accumulated depreciation	11,576	19,204
Deposits	7,080	6,520
TOTAL ASSETS	37,070	45,966
Current liabilities:
Accounts payable and accrued expenses	507,854	514,076
Convertible notes payable, net of discount	580,001	535,231
Derivative note liabilities	2,885,439	1,488,828
Short-term debt - related party	19,613	18,554
Unearned revenues	58,089	56,354
Total current liabilities	4,050,996	2,613,043
Long term convertible notes payable	308,282	55,011
Long-term derivative liabilities
Total liabilities	4,359,278	2,668,054
Stockholders' deficit:
Preferred stock, $0.0001 par value; 50,000,000 shares authorized including 5,000,000 shares authorized as Series A Convertible preferred shares; 5,000,000 shares of Series A Convertible preferred shares issued and outstanding	500	500
Common stock, $0.0001 par value, 2,000,000,000 shares authorized; 1,490,145,045 shares issued and outstanding, respectively	149,014	149,014
Additional paid-in capital	4,779,267	4,779,267
Accumulated deficit	(9,276,734)	(7,526,250)
Other comprehensive loss	16,506	(24,619)
Total stockholders' deficit	(4,331,447)	(2,622,088)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 37,070	$ 45,966

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	2,000,000,000	2,000,000,000
Common stock, shares issued	1,490,145,045	1,490,145,045
Common stock, shares outstanding	1,490,145,045	1,490,145,045
Series A Convertible preferred shares
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	5,000,000	5,000,000
Preferred stock, shares outstanding	5,000,000	5,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Operations [Abstract]
Revenues
Operating expenses
Research and development		29,236		83,395
General and administrative	48,390	68,261	55,442	158,973
Total operating expense	48,390	97,497	55,442	242,368
Loss from operations	(48,390)	(97,497)	(55,442)	(242,368)
Other income (expense):
Interest expense	(150,461)	(141,069)	(437,303)	(426,926)
Interest income		354		6,254
Change in fair value of derivative liabilities	(835,292)	(537,098)	(1,257,739)	(397,064)
Loss on debt settlement		(13,921)		(23,691)
Total other income (expense)	(985,753)	(691,734)	(1,695,042)	(841,427)
Net loss	(1,034,143)	(789,231)	(1,750,484)	(1,083,795)
Other comprehensive income (loss):
Foreign currency translations	92,025	(51)	41,126	(312)
Comprehensive loss	$ (942,118)	$ (789,282)	$ (1,709,358)	$ (1,084,107)
Net loss per common share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding - basic and diluted	1,490,145,045	459,543,354	1,490,145,045	437,598,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,750,484)	$ (1,083,795)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,884	4,483
Fair value of derivative in excess of debts	87,391	67,711
Amortization of debt discount and deferred financing cost	301,815	338,616
Change in fair value of derivative liability	1,257,739	397,064
Loss on settlement of debt		23,691
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,241	(5,935)
Accounts payable and accrued expenses	60,508	31,993
Net cash provided by (used in) operating activities	(39,906)	(226,172)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of related party debt		(17,346)
Payments on debt settlement		(49,139)
Proceeds from related party advance		6,104
Proceeds from convertible notes, net of financing costs	47,991	273,789
Net cash provided by financing activities	47,991	213,408
EFFECT OF FOREIGN CURRENCY TRANSLATIONS	(8,112)	(312)
Net change in cash and cash equivalents	(27)	(13,076)
Cash and cash equivalent at beginning of the period	3,432	14,772
Cash and cash equivalent at end of the period	3,405	1,696
Cash paid for:
Income tax
Interest
NONCASH INVESTING AND FINANCING ACTIVITIES:
Shares issued for conversion of debt		413,187
Derivative liabilities from issuance of convertible debt	138,872	369,903
Increases to convertible debt for debt issue costs		$ 36,746

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business World Moto, Inc. (the "Company") was incorporated in the State of Nevada on March 24, 2008 under the name Net Profits Ten Inc. The original purpose of the Company was to market and distribute user-friendly interactive yearbook software for the military. The Company was reclassified as a shell company until the completion of its acquisition of the World Moto Assets, which was consummated on November 14, 2012, and discussed in Note 3. Effective November 12, 2012, the Company amended its Articles of Incorporation to change its name from "Net Profits Ten Inc." to "World Moto, Inc." On January 30, 2013, World Moto, Inc. established two wholly owned subsidiaries that were incorporated in the State of Nevada. World Moto Technologies, Inc. and World Moto Holdings, Inc. were both established, but have no activity to report to date. On February 4, 2013, World Moto Technologies Ltd, a wholly owned subsidiary of the Company, was organized under the laws of the Kingdom of Thailand and the name of this company was later changed to World Moto Co., Ltd. World Moto Co., Ltd. is owned in its entirety by World Moto, Inc., World Moto Technologies, Inc. and World Moto Holdings, Inc. and it is an operating entity of the Company in Thailand for the purposes of research and development in the Southeast Asia region. The Company design, manufacture, market and sell Moto-Meter products and services, including the Moto-Meter and its related smartphone application, the Yes service and HailYes™ app, and Wheelies. The Company seek to address the need for fare metering and mobile commerce for motor scooters and motorcycle taxis. The use of these taxis is increasingly common in the developing world. The Company planned products, however, will have increased functionalities over a standard fare meter commonly used in an enclosed taxicab. Basis of Presentation The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information in accordance with Securities and Exchange Commission ("SEC") Regulation S-X rule 8-03 and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's last Annual Report filed with the SEC on Form 10-K for the year ended December 31, 2016. In the opinion of management, the unaudited consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include normal recurring adjustments, necessary to present fairly the financial position as of March 31, 2016 and the results of operations and cash flows for the periods then ended. The financial data and other information disclosed in these notes to the interim consolidated financial statements related to the period are unaudited. The results for the three-month period ended March 31, 2016 are not necessarily indicative of the results to be expected for any subsequent quarters or for the entire year ending December 31, 2016. Notes to the unaudited interim consolidated financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Form 10-K have been omitted. Principal of Consolidation The consolidated financial statements include the accounts of World Moto Technologies, Inc., World Moto Holdings, Inc., and World Moto Co. Ltd, all 100% owned subsidiaries. All significant intercompany balances and transactions have been eliminated upon consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. June 30, 2017 Level 1 Level 2 Level 3 Total Liabilities Derivative liability $ - $ - $ 2,885,439 $ 2,885,439 Level 1 Level 2 Level 3 Total Liabilities Derivative liability $ - $ - $ 1,488,828 $ 1,488,828 Subsequent Event The Company evaluated subsequent events through the date when financial statements are issued for disclosure consideration.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2017
Going Concern [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. However, the Company has an accumulated deficit of $9,163,910 as of June 30, 2017, has limited liquidity, and has not established a reliable source of revenues sufficient to cover operating costs over an extended period of time. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management's efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Unearned Revenues

Unearned Revenues	6 Months Ended
	Jun. 30, 2017
Unearned Revenues [Abstract]
UNEARNED REVENUES	NOTE 3 – UNEARNED REVENUES On December 2, 2013, WM Co. Thailand entered into a Purchase and Licensing Agreement (the "PL Agreement") with Mobile Advertising Ventures Ltd. ("MAV"). Pursuant to the terms of the PL Agreement, MAV will purchase 10 initial "Wheelies" from WM Co. Thailand at a total purchase price of $35,000, and will have an option to purchase an additional 190 Wheelies at a purchase price of $3,500 per unit. WM Co. Thailand also grants a non-exclusive license to MAV for the use of its software in connection with the operation of the Wheelies in consideration for a fee based on net revenue per quarter from advertising sales relating to the use of the Wheelies. The Company received $35,000 from MAV before December 31, 2013 and has been recorded unearned as revenues. On March 10, 2014, the Company entered into a Fleet Franchise Agreement ("the Franchise Agreement") with Mobile Advertising Ventures, Ltd. ("MAV"). MAV paid the Company $21,985 for the right to utilize the Yes software and all other trademarks of the Company, including but not limited to "Yes", "World Moto" and "Wheelies" (collectively, the "Marks") in the Federal Territory of Kuala Lumpur, Malaysia. Initial training has been completed for the Franchisee; however, the Franchisee has not begun operations. This revenue will be reclassified as earned when MAV completes its first sale using the Yes software.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS At June 30, 2017 and December 31, 2016, the Company has short-term debt of $19,613 and $18,554, respectively, due to one of its majority shareholders. The loan is accruing interest at a rate of 0%.

Convertible Notes Payable

Convertible Notes Payable	6 Months Ended
	Jun. 30, 2017
Convertible Notes Payable [Abstract]
CONVERTIBLE NOTES PAYABLE	NOTE 5 – CONVERTIBLE NOTES PAYABLE The Company regularly issues notes payable which are convertible at a discount of the trading price of the Company's common stock. Due to these provisions, the embedded conversion option qualified for derivative accounting under ASC 815-15, Derivatives and Hedging . Convertible notes payable dated December 11, 2014, with Redwood Management, LLC and Dominion Capital, LLC (the "Holder") in the aggregate principal amount of $608,696 for a purchase price of $500,000 (8% original issue discount). The Holder is guaranteed interest at the rate of 12% and the notes have a maturity date of December 11, 2015. The Company began making amortization payments on May 11, 2015 and continuing monthly thereafter. The Debentures are convertible into shares of common stock of the Company at any time at the discretion of the Investors at a conversion price equal to the lesser of (i) $0.10 or (ii) 70% of the lowest traded price per share of the common stock during the twenty-five (25) trading days prior to the date of conversion. Convertible note with the Vires Group dated July 10, 2015 for an aggregate principal amount of $69,000 with $4,000 in deferred financing costs for broker fees. The note earns an interest rate equal to 8% per annum and is due on April 30, 2016. The note is convertible any time after 180 days from issuance at 62% of the average of the lowest 3 trading prices of the Company's common stock during the 30 trading days prior to the conversion date. Convertible note with LG Capital dated July 27, 2015 for an aggregate principal amount of $45,000 with $2,250 in deferred financing costs for broker fees. The note earns an interest rate equal to 8% per annum and matures on July 27, 2016. The note is convertible at 62% of the lowest trading price of the Company's common stock during the 15 trading days prior to the conversion date. Convertible note with JMJ dated August 31, 2015 for an aggregate principal amount of $44,000 with a $4,000 original issue discount . The note earns an interest rate equal to 12% per annum and matures on August 31, 2017. The note is convertible at 60% of the lowest trading price of the Company's common stock during the 20 trading days prior to the conversion date. Convertible notes payable with Union Capital with an aggregate principal amount of $342,996. T he Company recorded debt discounts totaling $255,961, resulting from the bifurcation of the derivative liability and determined that the fair value of the conversion feature was $264,562 at the issuance date. The notes are convertible at 60% of the lowest trading price of the Company's common stock during the 20 trading days prior to the date of conversion. Convertible notes payable with GW Holding Group with an aggregate principal amount of $135,827. The notes bear interest at 10% per annum and mature at various dates from March through September of 2017. The notes are convertible at 52% of the lowest trading price of the Company's common stock during the 20 trading days prior to the conversion date. Pursuant to these notes, the Company recorded a debt discount of $169,086, resulting from the bifurcation of the derivative liability. The Company determined that the fair value of the conversion feature was 151,392 at the issuance date. Convertible notes payable as of June 30, 2017 and December 31, 2015, consisted of the following: Lender Interest Rate Issue Year Maturity Year Principal June 30, 2017 Principal December 31, 2016 Redwood/Dominion Capital 12 % 2014 2015 $ 148,164 $ 148,164 JMJ 12 % 2015 2017 33,000 33,000 Union Capital 8 % 2015 2016 316,447 316,447 GW Holdings 10 % 2015 2016 35,000 35,000 Union Capital 8 % 2016 2017 388,544 343,863 GW Holdings 8 % 2016 2017 142,693 129,851 Total principal 1,063,848 1,006,325 Less debt discount (169,705 ) (400,579 ) Deferred financing costs (5,890 ) (15,504 ) Net convertible debt 888,253 590,242 Current maturities 580,001 535,231 Long term, net $ 308,282 $ 55,011 As summary of value changes to the notes for the six months ended June 30, 2017 is as follows: Carrying value of Convertible Notes at December 31, 2016 $ 590,242 Additional principal 49,472 Total principal 639,714 Less: conversion of principal - Less: discount related to fair value of the embedded conversion feature (47,991 ) Less: deferred financing cost related to debt issuances (1,500 ) Less: discount related to original issue discount (3,786 ) Add: amortization of deferred financing cost 9,929 Add: amortization of discount 291,887 Carrying value of Convertible Notes at June 30, 2017 $ 888,253

Derivative Liabilities

Derivative Liabilities	6 Months Ended
	Jun. 30, 2017
Derivative Liabilities [Abstract]
DERIVATIVE LIABILITIES	NOTE 6 – DERIVATIVE LIABILITIES The Company has determined that the variable conversion prices under its convertible notes caused the embedded conversation feature to be a financial derivative. The Company may not have enough authorized common stock to settle its obligation if the note holder elects to convert the note into common shares when the trading price is lower than a certain threshold. The derivative instruments were valued at loan origination date, date of debt conversion and at March 31, 2017, The fair values of the derivative liabilities related to the conversion options of these notes was estimated on the transaction dates (loan original date and date of debt conversion) using the Multinomial Lattice option pricing model, under the following assumptions: December 31, June 30, 2016 Issuances New 2017 Shares of common stock issuable upon exercise of debt 1,490,145,048 68,225,427 1,608,700,221 Estimated market value of common stock on measurement date $ 0.0014 - 0.05 $ 0.0008-0.0016 $ 0.0196 Exercise price $ 0.0008-0.0016 $ 0.0004 - 0.0014 Risk free interest rate (1) 0.14% - 1.54 % 1.03%-1.18 % 0.05% - 1.03 % Expected dividend yield (2) 0.00 % - 0.00 % Expected volatility (3) 228.5 % 196.8%-205.9 % 222.29 % Expected exercise term in years (4) 0.25 - 1.00 1.00 0.08 - 1.00 (1) The risk –free interest rate was determined by management using the one month Treasury bill yield as of the valuation dates. (2) The expected dividend yield is based on the Company's current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments. (3) The volatility was determined by referring to the average historical volatility of a peer group of public companies because we do not have sufficient trade history to determine our historical volatility. (4) The exercise term is the remaining contractual term of the convertible instrument at the valuation date. The change in fair values of the derivative liabilities related to the Convertible Notes for the six months ended June 30, 2017 is summarized as: Fair value of derivatives December 31, 2016 $ 1,488,829 Addition of new derivative liabilities (notes) 138,872 Addition of new derivative liabilities (warrants) - Derecognition of derivative liability upon settlement of convertible note - Change in fair value of derivative liability (notes) 1,254,700 Change in fair value of derivative liability (warrants) 3,038 Fair value of derivative liabilities at June 30, 2017 $ 2,885,439

Equity Transactions

Equity Transactions	6 Months Ended
	Jun. 30, 2017
Equity Transactions [Abstract]
EQUITY TRANSACTIONS	NOTE 7 – EQUITY TRANSACTIONS During the six months ended June 30, 2017, the Company did not issue any shares of common stock for the conversion of notes payable and accrued interest.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 – COMMITMENTS AND CONTINGENCIES On April 16, 2013, the Company entered into a lease agreement with National Science and Technology Development Agency for 665 square feet of office space at 131 Thailand Science Park INC -1 # 214, Pathum Thani, Thailand. This office includes its executive offices and engineering facilities. On December 25, 2013, the Company entered into another lease agreement with National Science and Technology Development Agency for additional office space in the science park and the lease matures on November 30, 2016. Rent for the offices is approximately $22,000 per year. On December 25, 2013, the Company entered into an office maintenance service agreement with National Science and Technology Development Agency, the service agreement expires on the same date as the lease agreement. The annual service fee is approximately $21,000 per year. The Company has shared office space in New York City, located at 55 Broad Street, 28th Floor, New York, NY 10004. The annual rent for this location is currently being gifted to the Company. As of March 31, 2016, the Company ceased making lease payments to the National Science and Technology Development Agency. The Company does not have any outstanding lease payments obligation to National Science Technology Development Agency. The Company is currently negotiating a new office space lease.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Nature of Business	Nature of Business World Moto, Inc. (the "Company") was incorporated in the State of Nevada on March 24, 2008 under the name Net Profits Ten Inc. The original purpose of the Company was to market and distribute user-friendly interactive yearbook software for the military. The Company was reclassified as a shell company until the completion of its acquisition of the World Moto Assets, which was consummated on November 14, 2012, and discussed in Note 3. Effective November 12, 2012, the Company amended its Articles of Incorporation to change its name from "Net Profits Ten Inc." to "World Moto, Inc." On January 30, 2013, World Moto, Inc. established two wholly owned subsidiaries that were incorporated in the State of Nevada. World Moto Technologies, Inc. and World Moto Holdings, Inc. were both established, but have no activity to report to date. On February 4, 2013, World Moto Technologies Ltd, a wholly owned subsidiary of the Company, was organized under the laws of the Kingdom of Thailand and the name of this company was later changed to World Moto Co., Ltd. World Moto Co., Ltd. is owned in its entirety by World Moto, Inc., World Moto Technologies, Inc. and World Moto Holdings, Inc. and it is an operating entity of the Company in Thailand for the purposes of research and development in the Southeast Asia region. The Company design, manufacture, market and sell Moto-Meter products and services, including the Moto-Meter and its related smartphone application, the Yes service and HailYes™ app, and Wheelies. The Company seek to address the need for fare metering and mobile commerce for motor scooters and motorcycle taxis. The use of these taxis is increasingly common in the developing world. The Company planned products, however, will have increased functionalities over a standard fare meter commonly used in an enclosed taxicab.
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information in accordance with Securities and Exchange Commission ("SEC") Regulation S-X rule 8-03 and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's last Annual Report filed with the SEC on Form 10-K for the year ended December 31, 2016. In the opinion of management, the unaudited consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include normal recurring adjustments, necessary to present fairly the financial position as of March 31, 2016 and the results of operations and cash flows for the periods then ended. The financial data and other information disclosed in these notes to the interim consolidated financial statements related to the period are unaudited. The results for the three-month period ended March 31, 2016 are not necessarily indicative of the results to be expected for any subsequent quarters or for the entire year ending December 31, 2016. Notes to the unaudited interim consolidated financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Form 10-K have been omitted.
Principal of Consolidation	Principal of Consolidation The consolidated financial statements include the accounts of World Moto Technologies, Inc., World Moto Holdings, Inc., and World Moto Co. Ltd, all 100% owned subsidiaries. All significant intercompany balances and transactions have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. June 30, 2017 Level 1 Level 2 Level 3 Total Liabilities Derivative liability $ - $ - $ 2,885,439 $ 2,885,439 Level 1 Level 2 Level 3 Total Liabilities Derivative liability $ - $ - $ 1,488,828 $ 1,488,828
Subsequent Event	Subsequent Event The Company evaluated subsequent events through the date when financial statements are issued for disclosure consideration.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Schedule of fair value hierarchy company's financial assets and liabilities	Level 1 Level 2 Level 3 Total Liabilities Derivative liability $ - $ - $ 2,885,439 $ 2,885,439 Level 1 Level 2 Level 3 Total Liabilities Derivative liability $ - $ - $ 1,488,828 $ 1,488,828

Convertible Notes Payable (Tabl

Convertible Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2017
Convertible Notes Payable [Abstract]
Schedule of convertible notes payable	Lender Interest Rate Issue Year Maturity Year Principal June 30, 2017 Principal December 31, 2016 Redwood/Dominion Capital 12 % 2014 2015 $ 148,164 $ 148,164 JMJ 12 % 2015 2017 33,000 33,000 Union Capital 8 % 2015 2016 316,447 316,447 GW Holdings 10 % 2015 2016 35,000 35,000 Union Capital 8 % 2016 2017 388,544 343,863 GW Holdings 8 % 2016 2017 142,693 129,851 Total principal 1,063,848 1,006,325 Less debt discount (169,705 ) (400,579 ) Deferred financing costs (5,890 ) (15,504 ) Net convertible debt 888,253 590,242 Current maturities 580,001 535,231 Long term, net $ 308,282 $ 55,011
Summary of value changes to notes	Carrying value of Convertible Notes at December 31, 2016 $ 590,242 Additional principal 49,472 Total principal 639,714 Less: conversion of principal - Less: discount related to fair value of the embedded conversion feature (47,991 ) Less: deferred financing cost related to debt issuances (1,500 ) Less: discount related to original issue discount (3,786 ) Add: amortization of deferred financing cost 9,929 Add: amortization of discount 291,887 Carrying value of Convertible Notes at June 30, 2017 $ 888,253

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Liabilities [Abstract]
Summary of fair values of derivative liabilities assumptions	December 31, June 30, 2016 Issuances New 2017 Shares of common stock issuable upon exercise of debt 1,490,145,048 68,225,427 1,608,700,221 Estimated market value of common stock on measurement date $ 0.0014 - 0.05 $ 0.0008-0.0016 $ 0.0196 Exercise price $ 0.0008-0.0016 $ 0.0004 - 0.0014 Risk free interest rate (1) 0.14% - 1.54 % 1.03%-1.18 % 0.05% - 1.03 % Expected dividend yield (2) 0.00 % - 0.00 % Expected volatility (3) 228.5 % 196.8%-205.9 % 222.29 % Expected exercise term in years (4) 0.25 - 1.00 1.00 0.08 - 1.00 (1) The risk –free interest rate was determined by management using the one month Treasury bill yield as of the valuation dates. (2) The expected dividend yield is based on the Company's current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments. (3) The volatility was determined by referring to the average historical volatility of a peer group of public companies because we do not have sufficient trade history to determine our historical volatility. (4) The exercise term is the remaining contractual term of the convertible instrument at the valuation date.
Summary of change in fair values of derivative liabilities	Fair value of derivatives December 31, 2016 $ 1,488,829 Addition of new derivative liabilities (notes) 138,872 Addition of new derivative liabilities (warrants) - Derecognition of derivative liability upon settlement of convertible note - Change in fair value of derivative liability (notes) 1,254,700 Change in fair value of derivative liability (warrants) 3,038 Fair value of derivative liabilities at June 30, 2017 $ 2,885,439

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Liabilities
Derivative liability	$ 2,885,439	$ 1,488,828
Level 1 [Member]
Liabilities
Derivative liability
Level 2 [Member]
Liabilities
Derivative liability
Level 3 [Member]
Liabilities
Derivative liability	$ 2,885,439	$ 1,488,828

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Details Textual)	Jun. 30, 2017
Summary of Significant Accounting Policies (Textual)
Percentage of owned subsidiaries	100.00%

Going Concern (Details)

Going Concern (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Going Concern (Textual)
Accumulated deficit	$ (9,276,734)	$ (7,526,250)

Unearned Revenues (Details)

Unearned Revenues (Details) - USD ($)	Mar. 10, 2014	Dec. 02, 2013	Dec. 31, 2013
Purchase and Licensing Agreement [Member]
Unearned Revenues (Textual)
Unearned revenues			$ 35,000
Unearned revenues, description		Pursuant to the terms of the PL Agreement, MAV will purchase 10 initial "Wheelies" from WM Co. Thailand at a total purchase price of $35,000, and will have an option to purchase an additional 190 Wheelies at a purchase price of $3,500 per unit.
Fleet Franchise Agreement [Member]
Unearned Revenues (Textual)
Payments to software and other trademarks	$ 21,985

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Related Party Transactions (Textual)
Short-term debt	$ 19,613		$ 18,554
Repaid of related party debt	$ 0	$ 0
Loan accruing interest rate	0.00%

Convertible Notes Payable (Deta

Convertible Notes Payable (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Short-term Debt [Line Items]
Total principal	$ 1,063,848	$ 1,006,325
Less debt discount	(169,705)	(400,579)
Deferred financing costs	(5,890)	(15,504)
Net convertible debt	888,253	590,242
Current maturities	580,001	535,231
Long term, net	308,282	55,011
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Net convertible debt	888,253	590,242
Convertible Notes Payable [Member] | Redwood/Dominion Capital [Member]
Short-term Debt [Line Items]
Total principal	$ 148,164	148,164
Interest Rate	12.00%
Issue Year	Jun. 30, 2014
Maturity Year	Jun. 30, 2015
Convertible Notes Payable [Member] | JMJ [Member]
Short-term Debt [Line Items]
Total principal	$ 33,000	33,000
Interest Rate	12.00%
Issue Year	Jun. 30, 2015
Maturity Year	Jun. 30, 2017
Convertible Notes Payable [Member] | Union Capital [Member]
Short-term Debt [Line Items]
Total principal	$ 316,447	316,447
Interest Rate	8.00%
Issue Year	Jun. 30, 2015
Maturity Year	Jun. 30, 2016
Convertible Notes Payable [Member] | GW Holdings [Member]
Short-term Debt [Line Items]
Total principal	$ 35,000	35,000
Interest Rate	10.00%
Issue Year	Jun. 30, 2015
Maturity Year	Jun. 30, 2016
Convertible Notes Payable [Member] | Union Capital One [Member]
Short-term Debt [Line Items]
Total principal	$ 388,544	343,863
Interest Rate	8.00%
Issue Year	Jun. 30, 2016
Maturity Year	Jun. 30, 2017
Convertible Notes Payable [Member] | GW Holdings One [Member]
Short-term Debt [Line Items]
Total principal	$ 142,693	$ 129,851
Interest Rate	8.00%
Issue Year	Jun. 30, 2016
Maturity Year	Jun. 30, 2017

Convertible Notes Payable (De24

Convertible Notes Payable (Details 1)	6 Months Ended
	Jun. 30, 2017USD ($)
Short-term Debt [Line Items]
Carrying value of Convertible Notes at December 31, 2016	$ 590,242
Carrying value of Convertible Notes at June 30, 2017	888,253
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Carrying value of Convertible Notes at December 31, 2016	590,242
Additional principal	49,472
Total principal	639,714
Less: conversion of principal
Less: discount related to fair value of the embedded conversion feature	(47,991)
Less: deferred financing cost related to debt issuances	(1,500)
Less: discount related to original issue discount	(3,786)
Add: amortization of deferred financing cost	9,929
Add: amortization of discount	291,887
Carrying value of Convertible Notes at June 30, 2017	$ 888,253

Convertible Notes Payable (De25

Convertible Notes Payable (Details Textual) - USD ($)	Jul. 10, 2015	Dec. 11, 2014	Aug. 31, 2015	Jul. 27, 2015	Jun. 30, 2017	Dec. 31, 2016
Convertible notes payable (Textual)
Deferred financing costs					$ 5,890	$ 15,504
RM-DC Convertible Notes [Member]
Convertible notes payable (Textual)
Aggregate principal amount		$ 608,696
Purchase price of convertible note		$ 500,000
Original issue discount, percentage		8.00%
Interest rate		12.00%
Maturity date		Dec. 11, 2015
Debt instrument, description		The Debentures are convertible into shares of common stock of the Company at any time at the discretion of the Investors at a conversion price equal to the lesser of (i) $0.10 or (ii) 70% of the lowest traded price per share of the common stock during the twenty-five (25) trading days prior to the date of conversion.
Convertible Note [Member] | Vires Group One [Member]
Convertible notes payable (Textual)
Aggregate principal amount	$ 69,000
Interest rate	8.00%
Maturity date	Apr. 30, 2016
Debt instrument, description	The note is convertible any time after 180 days from issuance at 62% of the average of the lowest 3 trading prices of the Company's common stock during the 30 trading days prior to the conversion date.
Deferred financing costs	$ 4,000
Convertible Note [Member] | LG Capital [Member]
Convertible notes payable (Textual)
Aggregate principal amount				$ 45,000
Interest rate				8.00%
Maturity date				Jul. 27, 2016
Debt instrument, description				The note is convertible at 62% of the lowest trading price of the Company's common stock during the 15 trading days prior to the conversion date.
Deferred financing costs				$ 2,250
Convertible Note [Member] | JMJ [Member]
Convertible notes payable (Textual)
Aggregate principal amount			$ 44,000
Interest rate			12.00%
Maturity date			Aug. 31, 2017
Debt instrument, description			The note is convertible at 60% of the lowest trading price of the Company's common stock during the 20 trading days prior to the conversion date.
Original issue discount			$ 4,000
Convertible Note [Member] | Union Caiptal [Member]
Convertible notes payable (Textual)
Aggregate principal amount					$ 342,996
Debt instrument, description					The notes are convertible at 60% of the lowest trading price of the Company's common stock during the 20 trading days prior to the date of conversion.
Fair value of conversion feature					$ 264,562
Original issue discount					255,961
Convertible Note [Member] | GW Holdings [Member]
Convertible notes payable (Textual)
Aggregate principal amount					$ 135,827
Interest rate					10.00%
Maturity date					Sep. 30, 2017
Debt instrument, description					The notes are convertible at 52% of the lowest trading price of the Company's common stock during the 20 trading days prior to the conversion date.
Fair value of conversion feature					$ 151,392
Original issue discount					$ 169,086

Derivative Liabilities (Details

Derivative Liabilities (Details) - $ / shares		6 Months Ended	12 Months Ended
		Jun. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Shares of common stock issuable upon exercise of debt		1,608,700,221	1,490,145,048
Estimated market value of common stock on measurement date		$ 0.0196
Expected dividend yield	[1]	0.00%	0.00%
Expected volatility	[2]	222.29%	228.50%
Issuances [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Shares of common stock issuable upon exercise of debt		68,225,427
Expected dividend yield	[1]
Expected exercise term in years	[3]	1 year
Minimum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimated market value of common stock on measurement date			$ 0.0014
Exercise price		$ 0.0004
Risk free interest rate	[4]	0.05%	0.14%
Expected exercise term in years	[3]	29 days	2 months 30 days
Minimum [Member] | Issuances [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimated market value of common stock on measurement date		$ 0.0008
Risk free interest rate	[4]	1.03%
Expected volatility	[2]	196.80%
Minimum [Member] | New [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Exercise price		$ 0.0008
Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimated market value of common stock on measurement date			$ 0.05
Exercise price		$ 0.0014
Risk free interest rate	[4]	1.03%	1.54%
Expected exercise term in years	[3]	1 year	1 year
Maximum [Member] | Issuances [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimated market value of common stock on measurement date		$ 0.0016
Risk free interest rate	[4]	1.18%
Expected volatility	[2]	205.90%
Maximum [Member] | New [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Exercise price		$ 0.0016
[1]	The expected dividend yield is based on the Company's current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
[2]	The volatility was determined by referring to the average historical volatility of a peer group of public companies because we do not have sufficient trade history to determine our historical volatility.
[3]	The exercise term is the remaining contractual term of the convertible instrument at the valuation date.
[4]	The risk free interest rate was determined by management using the one month Treasury bill yield as of the valuation dates.

Derivative Liabilities (Detai27

Derivative Liabilities (Details 1)	6 Months Ended
	Jun. 30, 2017USD ($)
Derivative Liabilities [Abstract]
Fair value of derivatives December 31, 2016	$ 1,488,829
Addition of new derivative liabilities (notes)	138,872
Addition of new derivative liabilities (warrants)
Derecognition of derivative liability upon settlement of convertible note
Change in fair value of derivative liability (notes)	1,254,700
Change in fair value of derivative liability (warrants)	3,038
Fair value of derivative liabilities at June 30, 2017	$ 2,885,439

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended	6 Months Ended
	Dec. 25, 2013USD ($)	Jun. 30, 2017USD ($)	Apr. 16, 2013ft²
Bangkok, Thailand [Member]
Commitments and Contingencies (Textual)
Annual rent		$ 700
National Science and Technology Development Agency [Member] | Lease agreement [Member]
Commitments and Contingencies (Textual)
Annual rent	$ 22,000
Area of land | ft²			665
Lease expiration, date	Nov. 30, 2016
National Science and Technology Development Agency [Member] | Service agreement [Member]
Commitments and Contingencies (Textual)
Annual service fee	$ 21,000
Lease expiration, date	Nov. 30, 2016