Equity Transactions | The Company has 37,503,000,000 common shares authorized with a par value of $ 0.001 per share. The Company has 10,000,000 preferred shares authorized with a par value of $ 0.001 per share. On July 18, 2013, the Company designated, from the 10,000,000 authorized shares of preferred stock, 6,000,000 shares of Series A Preferred Stock. The Series A Preferred Stock has voting rights of 100 votes per share and votes with common shares as a single class. On July 18, 2013, the Company granted 6,000,000 Series A Preferred shares and 82,767,038 common shares for the intellectual property. The common and preferred shares were valued at a total of $123,973. On July 19, 2013, our new officer/director agreed to cancel 500,255,434 common shares and returned them to treasury. Certain other shareholders also agreed to cancel 262,521,000 common shares. On September 5, 2013, the Company increased the authorized common shares from 90,000,000 to 37,503,000,000. Correspondingly, the Company affirmed a forward split of 416.7 for 1 in which each shareholder was issued 416.7 common shares for each share held. All share and per share date included in these financial statements has been retrospectively adjusted to account for the stock split. On October 29, 2013, the Company granted 250,000 units at $0.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.50 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On December 11, 2013, the Company granted 250,000 units at $0.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.50 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On March 10, 2014, the Company issued 83,334 units at $0.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.50 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. The following is a summary of the inputs used to determine the value of the warrants issued in connection with common stock using the Black-Scholes option pricing model. Date October 29, 2013 December 11, 2013 March 10, 2014 Warrants 250,000 250,000 83,334 Stock price on grant date $0.30 $0.02 $0.02 Exercise price $0.50 $0.50 $0.50 Expected life 1 year 1 year 1 year Volatility 147% 64% 65% Risk-free rate 0.12% 0.11% 0.13% Calculated value $10,473 $0 $0 Fair value allocation of proceeds $7,381 $0 $0 On April 4, 2014, the Company issued 83,334 units at $0.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.50 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On April 24, 2014, the Company issued 1,000,000 units at $0.25 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.35 and a three year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On July 10, 2014, the Company issued 700,000 units at $0.043 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.15 and a three year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On July 29, 2014, the Company issued 700,000 units at $0.05 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.15 and a three year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On June 9, 2014, the Company issued 90,000,000 units at $0.0002 per unit. Each unit consisted of one common stock warrant with an exercise price of $0.0002 and a five year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. The following is a summary of the inputs used to determine the value of the warrants issued in connection with common stock using the Black-Scholes option pricing model. Date April 4, 2014 April 24, 2014 July 10, 2014 July 29, 2014 June 9, 2015 Warrants 83,334 1,000,000 700,000 700,000 90,000,000 Stock price on grant date $0.199 $0.252 $0.037 $0.037 $0.0002 Exercise price $0.50 $0.35 $0.15 $0.15 $0.0002 Expected life 1 year 3 year 3 year 3 year 5 year Volatility 113% 76% 119% 119% 98% Risk-free rate 0.12% 0.84% 0.96% 0.98% 1.74% Calculated value $3,181 $104,416 $12,130 $12,102 $13,259 Fair value allocation of proceeds $2,822 $73,653 $8,637 $8,992 $13,259 The following is a summary of the warrant activity for the period from April 1, 2013 to September 30, 2015: Number of warrants Weighted average exercise price Outstanding, April 1, 2013 - $0.00 Granted 583,334 $0.50 Exercised - - Outstanding, March 31, 2014 583,334 $0.50 Granted 2,483,334 $0.24 Exercised - - Outstanding, March 31, 2015 3,066,668 $0.29 Granted 90,000,000 $0.0002 Exercised - - Outstanding, September 30, 2015 93,066,668 $0.0097 On May 7, 2014, the Company granted 2,500,000 shares to a consultant for prior services rendered. The Company had accrued $300,000 for these services as of March 31, 2014. On June 16, 2014, the Company issued 1,469,000 shares of common stock for stock deposits of $147,050. The Company had received the deposits during the year ended March 31, 2014. On July 1, 2014, the Company granted 1,000,000 shares to a professional for prior legal services rendered. The Company had accrued $30,000 for these services as of June 30, 2014. The shares were valued on the grant date at the fair market value of $60,000 resulting in a loss on the issuance of shares of $30,000. On October 6, 2014, the Company entered into an Asset Assignment Agreement (the Assignment Agreement) with Imagic, LLC, a related party, and its principals to acquire certain assets including a US Patent entitled Compositions and methods of use of Phorbol Esters for the treatment of Hodgkins Lymphoma, and all related intellectual property, inventions and trade secrets, data and clinical study results. In consideration for the intellectual property the Company issued 220,792,028 common shares. These shares were valued at a total of $7,904,355; however, since the asset was acquired from a related party the Company valued the asset at the cost of the asset to the related party, $82,120, and treated the excess value of $7,822,235 as a deemed dividend reducing additional paid in capital. Also on October 6, 2014, the Board of Directors approved the issuance of 8,000,000 shares of common stock to the CEO and 4,000,000 shares of common stock to the Companys attorney as bonuses. The shares were valued based on the closing stock price on the grant date for a total value of $429,600. On November 19, 2014, the Company entered into an agreement with an unrelated vendor to provide six months of consulting services in exchange for 500,000 shares of common stock. The shares were valued based on the closing stock price on the grant date for a total value of $6,450. The entire contract was expensed as of March 31, 2015. On August 13, 2014, the Company entered into an investment agreement with an investor to invest up to $4,000,000 to purchase the Companys common stock. The price per share for each investment is determined by the lesser of: (1) 65% of the lowest traded price of the Companys common stock during the ten consecutive trading days prior to the drawdown notice date or (2) 65% of the closing bid price on the day before the drawdown notice is submitted. During the year ended March 31, 2015, the Company issued 79,961,892 shares of common stock to this investor for total proceeds of $220,000. On April 22, 2015, the Company sold 10,038,108 shares of common stock for $5,405 in cash, which was paid directly to a vendor for accounts payable. On June 25, 2015, the Company sold 154,245,477 shares of common stock for $10,797 in cash, of which $3,750 was paid directly to professionals in connection with the expenses of that sale, and $7,047 was retained by the Company. On July 7, 2015, the Company sold 161,942,326 shares of common stock for $11,336 in cash, of which $3,750 was paid directly to a vendor for professional services. On July 15, 2015, the Company sold 143,928,240 shares of common stock for $10,075 in cash. During the year ended March 31, 2015 and the period ended September 30, 2015, the Company received, as listed, conversion notices from various note holders. The Company issued the following common shares to satisfy the conversion of the following debt and interest: Date Debt/Interest Converted Common Stock Issued Price per Share September 22, 2014 $12,000 550,459 $0.0218 October 1, 2014 $12,000 648,649 $0.0185 October 8, 2014 $9,000 505,618 $0.0178 October 16, 2014 $6,000 454,545 $0.0132 October 29, 2014 $15,000 1,250,000 $0.0120 November 3, 2014 $10,000 819,672 $0.0122 November 7, 2014 $12,000 1,188,119 $0.0101 November 19, 2014 $18,120 2,831,250 $0.0064 December 8, 2014 $15,000 3,488,372 $0.0043 December 15, 2014 $12,000 4,285,714 $0.0028 December 26, 2014 $17,200 7,478,261 $0.0023 February 11, 2015 $29,900 74,750,000 $0.0004 February 12, 2015 $17,333 37,356,055 $0.00046 February 13, 2015 $17,894 37,280,000 $0.00048 February 15, 2015 $35,730 73,924,324 $0.00048 February 17, 2015 $17,003 36,643,945 $0.00046 February 23, 2015 $20,603 47,090,000 $0.00044 February 23, 2015 $17,003 36,643,945 $0.00046 February 24, 2015 $9,488 20,447,291 $0.00046 February 26, 2015 $42,030 105,075,000 $0.0004 February 27, 2015 $26,880 56,000,000 $0.00048 March 2, 2015 $56,402 121,555,062 $0.00046 March 9, 2015 $33,900 47,518,166 $0.00071 March 10, 2015 $25,200 70,000,000 $0.00036 March 20, 2015 $10,000 18,181,818 $0.00006 March 31, 2015 Total $498,686 805,966,265 Date Debt/Interest Converted Common Stock Issued Price per Share April 1, 2015 $16,650 41,111,111 $0.00041 April 6, 2015 $10,000 20,964,361 $0.00048 April 8, 2015 $15,309 45,356,111 $0.00034 April 8, 2015 $20,001 45,454,545 $0.00044 April 9, 2015 $14,320 32,545,455 $0.00044 April 14, 2015 $10,000 23,696,682 $0.00042 April 16, 2015 $1,918 5,300,000 $0.00036 April 21, 2015 $10,000 25,974,026 $0.00039 April 29, 2015 $15,000 38,961,039 $0.00039 May 4, 2015 $5,083 13,146,439 $0.00039 May 12, 2015 $28,456 90,337,960 $0.00031 May 20, 2015 $20,199 94,764,514 $0.00021 May 20, 015 $17,240 78,363,636 $0.00022 May 27, 2015 $13,568 70,180,137 $0.00019 May 29, 2015 $15,000 88,235,295 $0.00017 June 11, 2015 $9,897 94,260,947 $0.00010 June 16, 2015 $14,100 117,500,000 $0.00012 June 16, 2015 $13,565 113,041,667 $0.00012 June 22, 2015 $7,415 123,583,333 $0.00006 June 22, 2015 $14,384 247,992,413 $0.00006 June 23, 2015 $7,752 129,200,000 $0.00006 September 16, 2015 $7,974 177,203,333 $0.000045 September 28, 2015 $10,000 166,666,667 $0.00006 September 29, 2015 $10,620 177,000,000 $0.00006 Sept 30, 2015 Total $308,451 2,060,840 The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718: Compensation - Stock Compensation, which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. The Company follows ASC Topic 505-50, formerly EITF 96-18, Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services, for stock options and warrants issued to consultants and other non-employees. In accordance with ASC Topic 505-50, these stock options issued as compensation for services provided to the Company are accounted for based upon the fair value of the services provided or the estimated fair market value of the option, whichever can be more clearly determined. During the year ended March 31, 2014, the Company granted 47,503,280 stock options to officers, directors, employees and consultants. During the year ended March 31, 2015, the Company granted 19,750,000 stock options to officers, directors, employees and consultants. During the period ended September 30, 2015, the Company granted 304,000,250 stock options to officers, directors, employees and consultants The options have been re-priced twice as follows: (1) Effective January 12, 2015, the Company approved the re-pricing of all 67,253,280 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $.0191984 per share and $0.30 per share, to $0.0017 per share which was the closing price of the Companys common stock on January 9, 2015. All of the other terms of the options remained unchanged. (2) Effective April 6, 2015, the Company approved the re-pricing of all 271,253,530 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $.0008 per share and $0.0017 per share, to $0.0008 per share which was the closing price of the Companys common stock on April 6, 2015. All of the other terms of the options remained unchanged. (3) Effective August 4, 2015, the Company approved the re-pricing of all 371,253,530 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $.0008 per share and $0.0002 per share, to $0.0002 per share which was the closing price of the Companys common stock on August 4, 2015. All of the other terms of the options remained unchanged. The Company revalued all existing options on January 12, 2015 and again on April 6, 2015, and again on August 4, 2015 using the Black-Scholes option pricing model using the initial terms of the options and the modified terms of the options. The difference in the valuations was recorded as additional expense. The re-pricing of the options resulted in the recognition of an additional $50,448 on January 9, 2015 and an additional $9,316 on April 6, 2015, and an additional $47,463 on August 4, 2015 in related stock based compensation expense for those periods. The following is a summary of the inputs used to determine the value of the options using the Black-Scholes option pricing model. Date September 6, 2013 February 7, 2014 March 14, 2014 May 7, 2014 July 23, 2014 October 6, 2014 April 6, 2015 June 9, 2015 Options 41,003,280 1,500,000 5,000,000 3,500,000 750,000 15,500,000 204,000,250 100,000,000 Stock price grant date $0.02 $0.02 $0.30 $0.12 $0.069 $.0358 $0.0008 $0.0002 Initial Exercise price $0.0191984 $0.0191984 $0.30 $0.12 $0.069 $0.0191984 $0.0008 $0.0002 Modified Exercise price $0.0001 $0.0001 $0.0001 $0.0001 $0.0001 $0.0001 $0.0001 $0.0001 Expected life 10.00 10.00 10.00 10.00 10.00 5.0 5.0 5.0 Volatility 76% 74% 74% 73% 88% 101% 99% 99% Risk-free rate 2.94% 2.71% 2.65% 2.56% 2.53% 1.04% 1.31% 1.74% Calculated value $663,307 $23,825 $1,182,141 $315,772 $45,109 $454,798 $120,778 $14,838 Modified value $83,850 $3,069 $10,232 $7,164 $1,537 $31,408 $151,221 $16,347 The following is a summary of the option activity for the period April 1, 2013 through September 30, 2015: Number of options Weighted average exercise price Outstanding, April 1, 2013 - $0.00 Granted 47,503,280 $0.0001 Exercised - - Outstanding, March 31, 2014 47,503,280 $0.0001 Granted 19,750,000 $0.0001 Exercised - - Expired - - Outstanding, March 31, 2015 67,253,280 $0.0001 Granted 304,000,250 $0.0001 Exercised - - Expired - - Outstanding, September 30, 2015 371,253,530 $0.0001 |