Equity Transactions | The Company has 4,000,000,000 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 827,670 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 5,002,554 common shares and returned them to treasury. Certain other shareholders also agreed to cancel 2,625,210 common shares. On September 5, 2013, the Company increased the authorized common shares from 900,000 to 375,030,000. Correspondingly, the Company affirmed a forward split of 4.167 for 1 in which each shareholder was issued 4.167 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 2,500 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 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 2,500 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 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 June 9, 2015, the Company issued 900,000 units at $0.02 per unit. Each unit consisted of one common stock warrant with an exercise price of $0.02 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 On December 15, 2015, the Company issued 4,000,000 units at $0.01 per unit. Each unit consisted of one common stock warrant with an exercise price of $0.01 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 June 9, 2015 Dec 15,2015 Warrants 900,000 4,000,000 Stock price on grant date $0.02 $0.01 Exercise price $0.02 $0.01 Expected life 5 year 5 year Volatility 98% 98% Risk-free rate 1.74% 1.71% Calculated value $13,259 $29,612 Fair value allocation of proceeds $13,259 $29,612 The following is a summary of the warrant activity for the period March 31, 2016 to September 30, 2016: Number of warrants Weighted average exercise price Outstanding, March 31, 2016 4,930,666 $ 0.192 Granted $ Exercised Outstanding, September 30, 2016 4,930,666 $ 0.192 On April 22, 2015, the Company sold 100,381 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 1,542,455 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 1,619,423 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 1,439,282 shares of common stock for $10,075 in cash. On October 27, 2015, the Company sold 1,648,840 shares of common stock for $11,542 in cash. During the periods ended September 30, 2016 and March 31, 2016, 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: On February 8, 2016, the Company approved a change in the authorized shares of common stock to 4,000,000,000 shares. Effective February 11, 2016, the Company approved a reverse stock split of the common stock, par value $0.001 per share at a ratio of 1 for 100 of each share issued and outstanding on the effective date. These financial statements retroactively reflect the reverse stock split for all periods. 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 475,033 stock options to officers, directors, employees and consultants. During the year ended March 31, 2015, the Company granted 197,500 stock options to officers, directors, employees and consultants. During the period ended March 31, 2016, the Company granted 3,900,003 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 672,533 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $1.91984 per share and $30.0 per share, to $0.17 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. Date Debt/Interest Converted Common Stock Issued Price per Share April 1, 2015 $16,650 411,111 $0.04050 April 6, 2015 $10,000 209,644 $0.04770 April 8, 2015 $15,309 453,561 $0.03375 April 8, 2015 $20,001 454,545 $0.04400 April 9, 2015 $14,320 325,455 $0.04400 April 14, 2015 $10,000 236,967 $0.04220 April 16, 2015 $1,918 53,000 $0.03619 April 21, 2015 $10,000 259,740 $0.03850 April 29, 2015 $15,000 389,610 $0.03850 May 4, 2015 $5,083 131,464 $0.03866 May 12, 2015 $28,456 903,380 $0.03150 May 20, 2015 $20,199 947,645 $0.02131 May 20, 015 $17,240 783,636 $0.02200 May 27, 2015 $13,568 701,801 $0.01933 May 29, 2015 $15,000 882,353 $0.01700 June 11, 2015 $9,897 942,609 $0.01050 June 16, 2015 $14,100 1,175,000 $0.01200 June 16, 2015 $13,565 1,130,417 $0.01200 June 22, 2015 $7,415 1,235,833 $0.00600 June 22, 2015 $14,384 2,479,924 $0.00580 June 23, 2015 $7,752 1,292,000 $0.00600 September 16, 2015 $7,974 1,772,033 $0.00450 September 28, 2015 $10,000 1,666,667 $0.00600 September 29, 2015 $10,620 1,770,000 $0.00600 October 7, 2015 $2,250 375,000 $0.00600 October 7, 2015 $8,400 1,400,000 $0.00600 October 19, 2015 $9,720 1,620,000 $0.00600 November 2, 2015 $4,424 1,966,124 $0.00225 November 23, 2015 $10,000 1,666,667 $0.00600 November 30, 2015 $16,844 2,591,323 $0.00650 December 9, 2015 $1,746 775,991 $0.00225 December 17, 2015 $5,332 919,319 $0.00580 December 28, 2015 $1,341 596,200 $0.00225 December 28, 2015 $17,700 2,950,000 $0.00600 December 28, 2015 $14,305 2,384,167 $0.00600 December 28, 2015 $14,963 2,579,916 $0.00580 December 29, 2015 $8,395 1,399,167 $0.00600 December 29, 2015 $7,670 1,278,333 $0.00600 December 30, 2015 $6,651 2,956,248 $0.00225 January 1, 2016 $28,500 4,384,615 $0.00650 January 4, 2016 $19,339 3,223,213 $0.00600 January 5, 2016 $8,107 3,603,227 $0.00225 January 6, 2016 $16,070 2,678,333 $0.00600 January 6, 2016 $16,597 2,861,607 $0.00580 February 16 ,2016 $1,424 4,220,400 $0.00034 February 17, 2016 $12,800 8,443,272 $0.00152 February 23, 2016 $4,640 4,218,182 $0.00110 February 23, 2016 $3,086 4,200,871 $0.00073 February 24, 2016 $1,492 4,419,970 $0.00034 February 25, 2016 $3,000 2,638,987 $0.00114 February 25, 2016 $4,640 4,218,182 $0.00110 March 1, 2016 $1,313 5,834,458 $0.00022 March 2, 2016 $4,600 5,831,643 $0.00079 March 2, 2016 $1,650 2,586,410 $0.00064 March 2, 2016 $9,332 11,650,000 $0.00080 March 7, 2016 $2,799 6,546,292 $0.00043 March 11, 2016 $1,924 4,147,500 $0.00046 March 14, 2016 $2,245 7,125,777 $0.00032 March 15, 2016 $3,329 7,454,098 $0.00045 March 15, 2016 $5,210 11,450,000 $0.00046 March 22, 2016 $2,419 8,957,888 $0.00027 March 22, 2016 $2,367 7,200,486 $0.00033 March 22, 2016 $5,315 11,682,000 $0.00046 March 28, 2016 $1,986 8,958,779 $0.00022 March 31, 2016 Total $602,376 194,603,040 Date Debt/Interest Converted Common Stock Issued Price per Share April 1, 2016 $2,197 9,766,311 $0.000225 April 4, 2016 $4,847 17,250,000 $0.000281 April 7, 2016 $1,750 9,722,222 $0.000180 April 14, 2016 $4,158 19,250,000 $0.000216 April 15, 2016 $1,318 9,766,222 $0.000135 April 26, 2016 $1,705 12,629,776 $0.000135 May 4, 2016 $2,067 9,718,025 $0.000213 May 31, 2016 $ 828 4,600,055 $0.000180 June 2, 2016 $9,120 30,000,000 $0.000304 June 2, 2016 $4,401 29,340,333 $0.000150 June 14, 2016 $5,847 29,235,900 $.0.000200 June 17,2016 $5,691 28,456,150 $0.000200 June 29, 2016 $6,580 21,270,355 $0.000309 August 23, 2016 $2,567 22,129,741 $0.000116 August 29, 2016 $2,570 22,156,120 $0.000116 September 6, 2016 $2,547 21,952,672 $0.000116 September 20, 2016 $2,443 25,267,655 $0.000097 September 26, 2016 $2,946 25,393,448 $0.000116 September 28, 2016 $2,947 25,403,448 $0.000116 September 30, 2016 $3,949 51,066,724 $0.000077 September 30, 2016 Total $70,478 424,375,157 (2) Effective April 6, 2015, the Company approved the re-pricing of all 2,712,535 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $.08 per share and $0.17 per share, to $0.08 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 3,712,535 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $.08 per share and $0.02 per share, to $0.02 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 April 6, 2015 June 9, 2015 December 15, 2015 Options 2,040,003 1,000,000 860,000 Stock price grant date $0.08 $0.02 $0.01 Initial Exercise price $0.08 $0.02 $0.01 Modified Exercise price $0.01 $0.01 $0.01 Expected life 5.0 5.0 5.0 Volatility 99% 99% 84% Risk-free rate 1.31% 1.74% 1.70% Calculated value $120,778 $14,838 $5,736 Modified value $151,221 $16,347 $5,736 The following is a summary of the option activity for the period March 31, 2015 through September 30, 2016: Number of options Weighted average exercise price Outstanding, March 31, 2015 672,533 $0.01 Granted 3,900,003 $0.01 Exercised - - Expired - - Outstanding, September 30, 2016 4,572,536 $0.01 |