Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 13, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | Ystrategies Corp. | |
Entity Central Index Key | 1,510,891 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 17,113,728 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,017 |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash | $ 2,500 | $ 834 |
Prepaid expenses | 54,502 | 2,934 |
Total Current Assets | 57,002 | 3,768 |
Long term assets | ||
Prepaid expenses, non-current | 50,314 | 8,231 |
Total long-term assets | 50,314 | 8,231 |
Total assets | 107,316 | 11,999 |
Current liabilities | ||
Accounts payable and accrued liabilities | 85,005 | 69,211 |
Due to related parties | 156,099 | 77,385 |
Total current liabilities | 241,104 | 146,596 |
Long term liabilities | ||
Convertible notes payable-related parties, net | 3,500 | 23,420 |
Convertible note payable-net | 4,144 | |
Total long term liabilities | 7,644 | 23,420 |
Total liabilities | 248,748 | 170,016 |
Stockholders' deficit | ||
Common stock, $0.001 par value; 75,000,000 shares authorized; 17,113,728 and 14,837,915 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively | 17,114 | 14,838 |
Additional paid-in capital | 3,312,059 | 2,678,728 |
Stock payable | 1,700 | |
Accumulated deficit | (3,472,305) | (2,851,583) |
Total stockholders' deficit | (141,432) | (158,017) |
Total liabilities and stockholders' deficit | $ 107,316 | $ 11,999 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, par value per share | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 17,113,728 | 14,837,915 |
Common Stock, shares outstanding | 17,113,728 | 14,837,915 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Statement [Abstract] | ||||
Revenues | $ 8,580 | |||
Costs of Revenue | ||||
Gross margin | 8,580 | |||
Operating expenses | ||||
Cost of revenues | 3,966 | |||
General and administrative | 169,133 | 22,213 | 598,370 | 1,973,343 |
Total operating expenses | 169,133 | 22,213 | 598,370 | 1,977,309 |
Loss from operations | (169,133) | (22,213) | (598,370) | (1,968,729) |
Other expense | ||||
Interest expense | 13,934 | 845 | 49,352 | 1,770 |
Gain on settlement of accrued liabilities | 27,000 | |||
Total other income (expense) | 13,934 | 845 | 22,352 | 1,770 |
Net loss | $ (183,067) | $ (23,058) | $ (620,722) | $ (1,970,499) |
Net loss per common share: basic and diluted | $ (0.01) | $ 0 | $ (0.04) | $ (0.21) |
Weighted average common shares outstanding - basic and diluted | 16,668,214 | 13,589,654 | 16,080,415 | 9,174,138 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash Flows from Operating Activities | ||
Net loss | $ (620,722) | $ (1,970,499) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Amortization of debt discount | 38,380 | 60 |
Expenses paid by related party on behalf of Company | 52,314 | |
Gain on settlement of accrued liabilites | (27,000) | |
Common stock and warrants issued for services | 253,435 | 1,901,677 |
Depreciation | 357 | |
Changes in assets and liabilities | ||
Prepaid expenses | 48,885 | (165) |
Accounts receivable | 7,090 | |
Accounts payable and accrued liabilities | 199,674 | 21,855 |
Net cash from operating activities | (55,034) | (39,625) |
Cash Flows from Financing Activities | ||
Proceeds from the sale of common stock | 1,700 | 30,000 |
Proceeds from convertible notes payable | 50,000 | 10,000 |
Proceeds from convertible notes payable; related party | 5,000 | |
Net cash from financing activities | 56,700 | 40,000 |
Net increase in cash | 1,666 | 375 |
Cash, beginning of period | 834 | 1,766 |
Cash, end of period | 2,500 | 2,141 |
Beneficial conversion feature | 58,450 | 945 |
Shares issued for prepaid expenses | 77,550 | 12,000 |
Warrants issued for prepaid expenses | 64,986 | |
Conversion of accrued comp to convertible note | $ 108,600 | |
Common stock issued for conversion of convertible note | 160,186 | |
Common stock issued for conversion of accrued comp | 21,000 |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS | NOTE 1 – DESCRIPTION OF BUSINESS Ystrategies Corp., located in Pittsburgh PA, was incorporated, on January 19, 2011, as India Ecommerce Corporation (the "Company") under the laws of the State of Nevada. On March 9, 2016, India Ecommerce Corporation completed a merger with its wholly owned subsidiary, Ystrategies Corp., a Nevada corporation, which was incorporated solely to effect a change of name. As a result, the Company changed its name from India Ecommerce Corporation to Ystrategies Corp. The Company has modified its business model to include the management of interests in technology platforms and growth businesses with a focus on long term ownership in strong intellectual property positions. |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements of Ystrategies have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2016 contained in the Company's Form 10-K originally filed with the Securities and Exchange Commission on April 21, 2017. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements for year ended December 31, 2016 as reported in the Company's Form 10-K have been omitted. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. A change in managements' estimates or assumptions could have a material impact on the Company's financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. The Company's financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented. Cash and Cash Equivalents For purposes of the statements of cash flows, cash equivalents include all highly liquid investments with original maturities of three months or less which are not securing any corporate obligations. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. Property and Equipment Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period. Depreciation is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets. The estimated useful lives of depreciable assets are: Classification Estimated Useful Lives Furniture and fixtures 5-7 years Computers and office equipment 3-5 years Revenue Recognition The Company recognizes revenue for its professional services and product sales when persuasive evidence of an arrangement exists, performance of services has occurred or the product has been delivered, and the sales price is fixed or determinable and collectability is probable. During the nine months ended September 30, 2017 the Company did not earn any fees for consulting services or from commissions. Impairment of Long-lived Assets Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. The Company also follows the guidance related to accounting for income tax uncertainties. In accounting for uncertainty in income taxes, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. No liability for unrecognized tax benefits was recorded as of September30, 2017 or December 31, 2016. Fair Value Measurements The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or inputs that are corroborated by market data Level 3: Unobservable inputs that are not corroborated by market data Stock-Based Compensation The Company records stock-based compensation at fair value as of the date of grant and recognizes the corresponding expense over the requisite service period. Compensation expense is generally recognized on a straight line basis over the service period. Loss per Common Share Basic earnings per share are calculated dividing income available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share are based on the assumption that all dilutive convertible shares and stock options and warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, warrants and options are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There were 2,462,535 dilutive shares outstanding as of September 30, 2017. Research and Development Costs The Company has and will continue to enter into participation contracts with third party entities that will require funding for the development and production of various products. Each contract will be analyzed and reviewed based on its specific content, to determine its specific disclosure with regard to ASC 350-30. The Company has reviewed the existing agreements and has determined that it is not economically feasible, at this time, to determine, for any of the products being developed, the economic benefit to be received, nor their future useful life and therefore has expensed $40,027 previous to the current nine months and $0, as research and development costs, during the nine months ended September 30, 2017. Recently Adopted Accounting Pronouncements The Company has evaluated recent accounting pronouncements, through September 30, 2017, and believes that none are expected to have a material effect on the Company's financial statements. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2017 | |
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, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. Since its inception, the Company has been engaged substantially in financing activities, developing its business plan and marketing. As a result, the Company incurred accumulated net losses through September 30, 2017 of $3,466,805. In addition, the Company's development activities since inception have been financially sustained through the sale of capital stock and capital contributions from note holders. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock or through debt financing and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. |
PREPAID EXPENSES
PREPAID EXPENSES | 9 Months Ended |
Sep. 30, 2017 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
PREPAID EXPENSES | NOTE 4 – PREPAID EXPENSES Prepaid Expenses During the nine months ended September 30, 2017 the Company issued 580,000 shares and 500,000 warrants for prepaid expenses of $142,536 for consulting services and are being amortized over the life of the contracts. As of September 30, 2017 and December 31, 2016, there were prepaid expenses of $104,816 and $154,827, respectively. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended |
Sep. 30, 2017 | |
Property, Plant and Equipment, Net [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following as of September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 Computer and office equipment $ 8,614 $ 8,614 Less accumulated depreciation (8,614) (8,614) Equipment-net $ — $ — Depreciation expense was $0 and $0 and $0 and $357 for three and nine months ended September 30, 2017 and 2016, respectively. |
CONVERTIBLE NOTES PAYABLE
CONVERTIBLE NOTES PAYABLE | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | NOTE 6– CONVERTIBLE NOTES PAYABLE The components of notes payable at September 30, 2017 and December 31, 2016 are summarized in the following tables. September 30, 2017 December 31, 2016 Note Payable - 5% interest, unsecured and due January 2013 25,000 — Less: unamortized discount (20,856) — Balance - September 30, 2017 $ 4,144 $ — On March 14, 2017 the Company issued a convertible promissory note in the amount of $25,000 with principal and interest due and payable on or before January 1, 2019, bearing interest of 5% per annum and convertible into common shares at $0.1333 per share after 180 days, at the holder's option. Due to the fact that the trading price of the Company's stock was less than the stated conversion rate of the note, there was no beneficial conversion feature. On July 7, 2017 the Company issued a convertible promissory note in the amount of $25,000 with principal and interest due and payable on or before January 1, 2019, bearing interest of 5% per annum and convertible into common shares at $0.1333 per share after 180 days, at the holder's option. Due to the fact that the trading price of the Company's stock was greater than the stated conversion rate of the note, the Company calculated the effective conversion price of the note based on the relative fair value allocated to the debt to determine the fair value of any beneficial conversion feature, in accordance with ASC 470-20-30. A discount of $25,000 for the relative fair value for the warrant valued at $17,187 and the beneficial conversion feature valued at $7,813 was recorded against the note and will be amortized over the life of the note to interest expense. As of September 30, 2017 interest expense of $4,144 was recorded as part of the amortization of the beneficial conversion feature of the notes. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2017 | |
Related Party Transactions [Abstract] | |
RELATED PARTY NOTE PAYABLE | NOTE 7 – RELATED PARTY TRANSACTIONS On February 29, 2016, the Company resolved to sell 600,000 post-split common shares to, each of, two individuals, for a total consideration of $30,000 cash, which was received on March 3, 2016. On March 10, 2016, the Board of Directors appointed Messrs. Jim Kiles and Paul Overby to the two vacant positions on the Company's Board of Directors. Mr. Kiles was also appointed President and Chief Executive Officer in the place of Ashish Badjatia, who resigned as President and CEO. Mr. Overby was appointed Chief Strategy Officer. On June 3, 2016 the Company issued 7,249,999 of its common restricted shares to seven individuals for past services provided as directors, officers and employees. The shares were recorded at a cost of $0.26, each, for a total cost of $1,885,000. On April 1, 2016, the Board of Directors passed a resolution to pay Ashish Badjatia, a director and operating officer, $3,000 per month as compensation for services to be rendered. On October 1, 2016 the Company entered into a new contract with Mr. Badjatia to compensate him at the rate of $8,000 per month plus out of pocket expenses. Unpaid compensation under the later contract is convertible, quarterly, into restricted common shares, at a cost of $0.1333 per share. On December 31, 2016, Mr. Badjatia was owed, as a result of both contracts, a total of $36,000 in unpaid compensation. In addition, the Company owed Mr. Badjatia $36,548, for accrued but unpaid consulting fees of $24,500 and $12,048 for a convertible note and accrued interest. On December 31, 2016 the Company and Mr. Badjatia agreed to cancel that debt and issue 73,096 common stock warrants to Mr. Badjatia to be exercised, any time after thirty days but within five years from the date of issuance, at $0.50 per share. On October 1, 2016 the Company entered into a consulting contract with James Kiles to compensate him at the rate of $8,000 per month plus out of pocket expenses. Unpaid compensation under the consulting contract is convertible into restricted common shares quarterly at the cost of $0.1333 per share. On January 1, 2016, per the consulting contract terms, the Company issued Mr. Kiles a convertible note, which included unpaid compensation for the previous quarter of $24,000 plus out of pocket expenses of $17,385. During the year ended December 31, 2016 two directors and two affiliates were issued convertible promissory notes repayable on or before January 1, 2019, bearing interest of 5% per annum and convertible into common shares at a cost of $0.135 per share after 180 days, at the holder's option. On January 1, 2017 a director was issued a convertible promissory note, convertible at $0.13333 per share after 180 days at the holder's option, bearing interest of 5% per annum, principal and interest due, in full if not paid sooner, on January 1, 2019, in the amount of $41,385, of which $17,385 was to pay overhead items and $24,000 was to pay accrued salary owing under a consulting agreement . On January 20, 2017 the Company issued, to a director, a $5,000 convertible promissory note to secure a cash advance, principal and interest repayable on or before January 1, 2019, bearing interest of 5% per annum and convertible into common shares at a cost of $0.135 per share after 180 days, at the holder's option. Because the trading price of the Company's stock was less than the stated conversion rate of the note, there was no beneficial conversion feature. On April 24, 2017 the Company issued 932,523 common shares to one director for conversion of notes payable and advance through March 31, 2017 amounting to $123,372. On July 27, 2017 the Company issued 77,665 of its common restricted shares to note holders in settlement of notes payable and accrued interest amounting to $10,463 . The components of notes payable -related party at September 30, 2017 and December 31, 2016 are summarized in the following tables. September 30, 2017 December 31, 2016 Related party convertible notes payable - 5% interest;due January 1, 2019 3,500 $ 24,796 Less: unamortized discount — (786) Balance - September 30, 2017 $ 3,500 $ 23,420 |
STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT | 9 Months Ended |
Sep. 30, 2017 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' DEFICIT | NOTE 8 – STOCKHOLDERS' DEFICIT The total number of common shares authorized that may be issued by the Company is 75,000,000 shares with a par value of $0.001 per share. There are no preferred shares authorized to be issued. There were 17,113,728 and 14,837,915 shares of post-split common stock issued and outstanding at September 30, 2017 and December 31, 2016. On September 30, 2017, the Company's Board unanimously authorized the Company to buy back its own stock in the open market within compliance of Rule 10b-18 of the US Securities and Exchange Commission, and authorizes these repurchases for a period of one year commencing on October 1, 2018. As of the date of this filing the Company has not purchased any of it’s own stock. On March 3, 2016 the Company received a cash payment of $30,000, for the sale of 12,000,000 pre-reverse split shares at a cost of $0.0025 per share or 1,200,000 post-reverse common shares, at a cost of $0.025 per share. On September 3, 2016, the Company issued 7,249,999 common restricted shares to seven individuals, officers and directors, to compensate them for past services. The shares were recorded, based on the fair market value of the stock on that date, at $0.26 per share for a total cost of $1,885,000. On September 3, 2016, the Company approved the issuance of 50,000 common restricted shares to a consultant for services provided and to be provided. The shares were recorded, based on the fair market value of the stock on that date, at $0.26 per share, for a total cost of $13,000. On September 30, 2016 the Company issued 25,000 common restricted shares to the same consultant for services rendered, based on the fair market value of the stock on that date, at $0.1051 per share or a total cost of $2,628. On September 27, 2016 the Company issued 700,000 and 500,000 shares, respectively, to two consultants for services to be provided, based on the fair market value of the stock on that date of $0.01 per share or a total cost of $12,000. The 700,000 common shares were recorded at $0.01per share, based on the fair market value of the stock on September 27, 2016, and were recorded as a prepaid expense, of $7,000, to be amortized, over the term of the contract. In addition, this consultant will accrue $8,000 in fees with the consultant having the option to convert the accrued fees into 25,000 shares of common stock each quarter. Similarly, the 500,000 common shares were valued at $0.01, based on the fair market value of the stock on September 27, 2016, and were recorded as a prepaid expense, of $5,000, to be amortized, over the term of the contract. The contracts contained a commitment to issue an additional 300,000 and 250,000 shares, respectively, by September30, 2017. On September 27, 2016 the Company also issued 105,000 common shares to seven consultants in return for the Company's right to utilize the consultants' images and profiles in marketing and other materials to be disseminated from time to time. The shares were recorded at a cost of $0.10 per share for a total cost of $10,500. On January 19, 2017 and March 27, 2017 the Company issued 30,000 and 10,000 restricted common shares pursuant to a consulting agreement, recorded at a cost of $0.1281 and $0.17 per share for a total cost of $5,543. On February 6, 2017 the Company issued 15,000 common shares to one consultant in return for the Company's right to utilize the consultants' images and profiles in marketing and other materials to be disseminated from time to time. The shares were recorded at a cost of $0.1281 per share for a total cost of $1,922. On February 17, 2017 the Company issued 105,000 common shares to seven consultants in return for the Company's right to utilize the consultants' images and profiles in marketing and other materials to be disseminated from time to time. The shares were recorded at a cost of $0.1285 per share for a total cost of $13,493. On February 28, 2017 the Company issued 15,000 common shares to one consultant in return for the Company's right to utilize the consultants' images and profiles in marketing and other materials to be disseminated from time to time. The shares were recorded at a cost of $0.13 per share for a total cost of $1,950. On March 26, 2017, the Company issued 10,000 common shares to a consultant for services rendered. Based on the fair market value of the stock on that day the shares were recorded at a cost of $0.17 per share or a total cost of $1,700. As of September 30, 2017, the shares have not been issued and have been recorded as stock payable. On March 31, 2017 the Company issued 550,000 common shares to two consultants as payment for their services. The shares were recorded at a cost of $0.141 per share or a total of $77,000 and charged to prepaid expense, to be amortized over 42 months, which is the remaining term of the consulting agreements. On April 24, 2017 the Company issued 150,000 common shares to one consultant as payment for their services. The shares were recorded at a cost of $0.17 per share or a total of $25,485 and charged to prepaid expense, to be amortizedover 42 months, which is the remaining term of the consulting agreements. On April 24, 2017 the Company issued 932,523 common shares to one director for conversion of notes payable and advance through March 31, 2017 amounting to $123,372. On July 27, 2017 the Company issued 268,290 common shares to various note holders director for conversion of convertible notes payable – related parties and advances amounting to $35,880. On July 5, 2017, the Company issued 25,000 common shares to a consultant for services rendered valued as of the date of the agreement at $5,500. On July 17, 2017, the Company issued 100,000 common shares to a consultant for services rendered valued as of the date of the agreement at $22,000. On September 20, 2017, the Company issued 100,000 common shares to a consultant for services rendered valued as of the date of the agreement at $12,100 . |
STOCK PURCHASE WARRANTS
STOCK PURCHASE WARRANTS | 9 Months Ended |
Sep. 30, 2017 | |
Other Liabilities Disclosure [Abstract] | |
STOCK PURCHASE WARRANTS | NOTE 9 – STOCK PURCHASE WARRANTS On March 14, 2017, 500,000 warrants were issued, to a consultant, in consideration of consulting services to be provided during the ensuing year . The value of these warrants of $64,986 have been recorded as prepaid expenses (See Note 4). On June 27, 2017, the Company granted stock warrants for 932,523 shares of common stock in association with a consulting agreement with a director. These warrants have a term of five years, and were valued using the Black Scholes Valuation Model, the stock price at the grant date was $0.20/share, the exercise price is $0.50/share, the value of the issuance is $186,276 . On July 27, 2017, the Company granted stock warrants for 47,656 shares of common stock in association with a the conversion of a convertible note. These warrants have a term of five years, and were valued using the Black Scholes Valuation Model, the stock price at the grant date was $0.18/share, the exercise price is $0.13333/share, the value of the issuance is $8,521. In applying the Black-Scholes options pricing model to the options and warrant grants, the fair value of our share-based awards granted were estimated using the following assumptions for the periods indicated below: September 30, 2017 Risk-free interest rate 1.06 - 2.32% Expected options life 5.00 Expected dividend yield — Expected price volatility 313-330.11% A summary of the status of the Company's stock options as of September 30, 2017 and changes during the nine months ended September 30, 2017 is presented below: Number of Warrants Outstanding at December 31, 2016 1,739,763 Warrants granted during the nine months ended September 30, 2017 1,480,179 Warrants exercised — Warrants forfeited or expired — Outstanding at September 30, 2017 3,219,942 Exercisable at September 30, 2017 3,219,942 The following table summarizes information about options and warrants as of September 30, 2017: Warrants Outstanding Warrants Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.06 1,666,667 2.17 $ 0.06 1,666,667 $ 0.06 $ 0.50 1,005,619 4.50 $ 0.50 1,005,619 $ 0.50 $ 0.1333 547,656 4.64 $ 0.1333 547,656 $ 0.1333 |
BASIS OF PRESENTATION AND SIG15
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited interim financial statements of Ystrategies have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2016 contained in the Company's Form 10-K originally filed with the Securities and Exchange Commission on April 21, 2017. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements for year ended December 31, 2016 as reported in the Company's Form 10-K have been omitted. |
Use of Estimates | Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. A change in managements' estimates or assumptions could have a material impact on the Company's financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. The Company's financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the statements of cash flows, cash equivalents include all highly liquid investments with original maturities of three months or less which are not securing any corporate obligations. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. |
Property and Equipment | Property and Equipment Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period. Depreciation is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets. The estimated useful lives of depreciable assets are: Classification Estimated Useful Lives Furniture and fixtures 5-7 years Computers and office equipment 3-5 years |
Revenue Recognition | Revenue Recognition The Company recognizes revenue for its professional services and product sales when persuasive evidence of an arrangement exists, performance of services has occurred or the product has been delivered, and the sales price is fixed or determinable and collectability is probable. During the nine months ended September 30, 2017 the Company did not earn any fees for consulting services or from commissions. |
Impairment of Long-Lived Assets | Impairment of Long-lived Assets |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. The Company also follows the guidance related to accounting for income tax uncertainties. In accounting for uncertainty in income taxes, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. No liability for unrecognized tax benefits was recorded as of September 30, 2017 or December 31, 2016. |
Fair Value of Financial Instruments | Fair Value Measurements The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or inputs that are corroborated by market data Level 3: Unobservable inputs that are not corroborated by market data |
Stock-based Compensation | Stock-Based Compensation The Company records stock-based compensation at fair value as of the date of grant and recognizes the corresponding expense over the requisite service period. Compensation expense is generally recognized on a straight line basis over the service period. |
Loss per Common Share | Loss per Common Share Basic earnings per share are calculated dividing income available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share are based on the assumption that all dilutive convertible shares and stock options and warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, warrants and options are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There were 2,462,535 dilutive shares outstanding as of September 30, 2017. |
Research and Development Costs | Research and Development Costs The Company has and will continue to enter into participation contracts with third party entities that will require funding for the development and production of various products. Each contract will be analyzed and reviewed based on its specific content, to determine its specific disclosure with regard to ASC 350-30. The Company has reviewed the existing agreements and has determined that it is not economically feasible, at this time, to determine, for any of the products being developed, the economic benefit to be received, nor their future useful life and therefore has expensed $40,027 previous to the current nine months and $0, as research and development costs, during the nine months ended September 30, 2017. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements The Company has evaluated recent accounting pronouncements, through September 30, 2017, and believes that none are expected to have a material effect on the Company's financial statements. |
BASIS OF PRESENTATION AND SIG16
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Schedule of Useful Lives | Classification Estimated Useful Lives Furniture and fixtures 5-7 years Computers and office equipment 3-5 years |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Property, Plant and Equipment, Net [Abstract] | |
Schedule of Property and Equipment | September 30, 2017 December 31, 2016 Computer and office equipment $ 8,614 $ 8,614 Less accumulated depreciation (8,614) (8,614) Equipment-net $ — $ — |
CONVERTIBLE NOTES PAYABLE (Tabl
CONVERTIBLE NOTES PAYABLE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Convertible Notes Payable | September 30, 2017 December 31, 2016 Note Payable - 5% interest, unsecured and due January 2013 25,000 — Less: unamortized discount (20,856) — Balance - September 30, 2017 $ 4,144 $ — |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Related Party Transactions [Abstract] | |
Notes Payable - Related Party | September 30, 2017 December 31, 2016 Related party convertible notes payable - 5% interest;due January 1, 2019 3,500 $ 24,796 Less: unamortized discount — (786) Balance - September 30, 2017 $ 3,500 $ 23,420 |
STOCK PURCHASE WARRANTS (Tables
STOCK PURCHASE WARRANTS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Fair value assumptions | September 30, 2017 Risk-free interest rate 1.06 - 2.32% Expected options life 5.00 Expected dividend yield — Expected price volatility 313-330.11% |
Changes and status of options | Number of Warrants Outstanding at December 31, 2016 1,739,763 Warrants granted during the nine months ended September 30, 2017 1,480,179 Warrants exercised — Warrants forfeited or expired — Outstanding at September 30, 2017 3,219,942 Exercisable at September 30, 2017 3,219,942 |
Summary of options and warrants | Warrants Outstanding Warrants Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.06 1,666,667 2.17 $ 0.06 1,666,667 $ 0.06 $ 0.50 1,005,619 4.50 $ 0.50 1,005,619 $ 0.50 $ 0.1333 547,656 4.64 $ 0.1333 547,656 $ 0.1333 |
DESCRIPTION OF BUSINESS (Detail
DESCRIPTION OF BUSINESS (Details Narrative) | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Date of Incorporation | Jan. 19, 2011 |
Date of Merger | Mar. 9, 2016 |
BASIS OF PRESENTATION AND SIG22
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) | 9 Months Ended |
Sep. 30, 2017 | |
Maximum [Member] | |
Estimated useful life - Furniture and fixtures | 7 years |
Estimated useful life - Computers and office equipment | 5 years |
Minimum [Member] | |
Estimated useful life - Furniture and fixtures | 5 years |
Estimated useful life - Computers and office equipment | 3 years |
BASIS OF PRESENTATION AND SIG23
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 9 Months Ended | 77 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Accounting Policies [Abstract] | ||
Dilutive Shares Outstanding | 2,462,535 | |
Research and Development costs | $ 0 | $ 40,027 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) | Sep. 30, 2017USD ($) |
GOING CONCERN [Abstract] | |
Accumulated net loss | $ 3,466,805 |
PREPAID EXPENSES (Details Narra
PREPAID EXPENSES (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Shares issued for prepaid expenses | 580,000 | |
Warrants issued for prepaid expenses | 500,000 | |
Prepaid Expenses | $ 104,816 | $ 154,827 |
Prepaid Expenses Consulting Services | $ 142,536 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Property, Plant and Equipment, Net [Abstract] | |||
Computer and office equipment | $ 8,614 | $ 8,614 | |
Accumulated depreciation | (8,614) | (8,614) | |
Property and equipment, net | |||
Depreciation | $ 357 |
PROPERTY AND EQUIPMENT (Detai27
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation Expense | $ 0 | $ 0 | $ 0 | $ 357 |
CONVERTIBLE NOTES PAYABLE (Deta
CONVERTIBLE NOTES PAYABLE (Details) | Sep. 30, 2017USD ($) |
Debt Disclosure [Abstract] | |
Note payable - 24% interest, unsecured and due January 2019 | $ 25,000 |
Unamortized Discount | 20,856 |
Balance - June 30, 2017 | $ 4,144 |
CONVERTIBLE NOTES PAYABLE (De29
CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($) | 9 Months Ended | ||
Sep. 30, 2017 | Jul. 07, 2017 | Mar. 14, 2017 | |
Holders option, number of days | 180 days | ||
Convertible Notes Payable 1 [Member] | |||
Convertible Promissory Note Issued | 25,000 | ||
Convertible Prommisory Note, Interest Rate | 5.00% | ||
Convertible Promissory Note. Conversion Rate | 13.33% | ||
Convertible Notes Payable 2 [Member] | |||
Convertible Promissory Note Issued | 25,000 | ||
Convertible Prommisory Note, Interest Rate | 5.00% | ||
Convertible Promissory Note. Conversion Rate | 13.33% | ||
Relative Fair Value for Warrant | $ 17,187 | ||
Interest Expense | $ 4,144 | ||
Value of Beneficial Conversion Feature | 7,813 | ||
Discount | $ 25,000 | ||
Interest due and payable date | Jan. 1, 2019 | ||
Convertible Notes Payable 1 [Member] | |||
Interest due and payable date | Jan. 1, 2019 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Related Party Transactions [Abstract] | ||
Related party convertible notes payable -5% interest; due January 1, 2019 | $ 3,500 | $ 24,796 |
less: unamortized discount | (786) | |
Balance - September 30, 2017 | $ 3,500 | $ 23,420 |
RELATED PARTY TRANSACTIONS (D31
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 2 Months Ended | 9 Months Ended | ||||||||
Jan. 20, 2017 | Sep. 30, 2017 | Jul. 27, 2017 | Apr. 24, 2017 | Dec. 31, 2016 | Oct. 01, 2016 | Jun. 03, 2016 | Apr. 01, 2016 | Feb. 29, 2016 | Jan. 01, 2016 | |
Convertible Notes Issued Interest Rate | 5.00% | |||||||||
Conversion Cost per Share | $ 0.135 | |||||||||
Related Party 1 | ||||||||||
Shares Sold | 600,000 | |||||||||
Cash Consideration | $ 30,000 | |||||||||
Related Party 2 | ||||||||||
Shares Issued | 7,249,999 | |||||||||
Cost Per Share | $ 0.26 | |||||||||
Total Cost | $ 1,885,000 | |||||||||
Related Party 3 Ashish Badjatia | ||||||||||
Shares Issued | 73,096 | |||||||||
Cost Per Share | $ .50 | $ 0.1333 | ||||||||
Compensation per month | $ 8,000 | $ 3,000 | ||||||||
Owed in Unpaid Compensation | 36,000 | |||||||||
Accrued Unpaid Consulting Fees | $ 36,548 | |||||||||
Related Party 4 James Kiles | ||||||||||
Cost Per Share | $ 0.1333 | |||||||||
Compensation per month | $ 8,000 | |||||||||
Unpaid Compensation | $ 24,000 | |||||||||
Out of Pocket Expenses | $ 17,385 | |||||||||
Related Party 5 | ||||||||||
Convertible Notes Issued Interest Rate | 5.00% | |||||||||
Conversion Cost per Share | $ 0.13333 | |||||||||
Principal Due January 1, 2019 | $ 41,385 | |||||||||
Interest Due January 1, 2019 | $ 17,385 | |||||||||
Related Party 6 | ||||||||||
Convertible Promissory Note | $ 5,000 | |||||||||
Convertible Notes Issued Interest Rate | 5.00% | |||||||||
Conversion Cost per Share | $ .135 | |||||||||
Related Party 7 | ||||||||||
Shares Sold | 932,523 | |||||||||
Cash Consideration | $ 123,372 | |||||||||
Related Party 8 | ||||||||||
Shares Sold | 77,665 | |||||||||
Cash Consideration | $ 10,463 |
STOCKHOLDERS' DEFICIT (Details)
STOCKHOLDERS' DEFICIT (Details) - USD ($) | Jul. 05, 2017 | Feb. 06, 2017 | Sep. 03, 2016 | Mar. 03, 2016 | Sep. 20, 2017 | Jul. 27, 2017 | Jul. 17, 2017 | Apr. 24, 2017 | Mar. 31, 2017 | Mar. 27, 2017 | Mar. 26, 2017 | Feb. 28, 2017 | Feb. 17, 2017 | Sep. 30, 2016 | Sep. 27, 2016 | Jan. 19, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Common Shares Authorized | 75,000,000 | |||||||||||||||||
Par Value Per Share | 0.10% | |||||||||||||||||
Total Shares Issued and Outstanding | 17,113,728 | 14,837,915 | ||||||||||||||||
Equity 20 [Member] | ||||||||||||||||||
Number of shares issued/sold | 100,000 | |||||||||||||||||
Proceeds from shares sold | $ 12,100 | |||||||||||||||||
Equity 19 [Member] | ||||||||||||||||||
Number of shares issued/sold | 100,000 | |||||||||||||||||
Proceeds from shares sold | $ 22,000 | |||||||||||||||||
Equity 18 [Member] | ||||||||||||||||||
Number of shares issued/sold | 25,000 | |||||||||||||||||
Proceeds from shares sold | $ 5,500 | |||||||||||||||||
Equity 17 [Member] | ||||||||||||||||||
Number of shares issued/sold | 268,290 | |||||||||||||||||
Proceeds from shares sold | $ 35,880 | |||||||||||||||||
Equity 16 [Member] | ||||||||||||||||||
Number of shares issued/sold | 932,523 | |||||||||||||||||
Proceeds from shares sold | $ 123,372 | |||||||||||||||||
Equity 15 [Member] | ||||||||||||||||||
Number of shares issued/sold | 150,000 | |||||||||||||||||
Cost | $ 25,485 | |||||||||||||||||
Per share cost | $ .17 | |||||||||||||||||
Amortization Period | 42 months | |||||||||||||||||
Equity 12 [Member] | ||||||||||||||||||
Number of shares issued/sold | 550,000 | |||||||||||||||||
Cost | $ 77,000 | |||||||||||||||||
Per share cost | $ 0.141 | |||||||||||||||||
Equity 11 [Member] | ||||||||||||||||||
Number of shares issued/sold | 10,000 | |||||||||||||||||
Cost | $ 1,700 | |||||||||||||||||
Per share cost | $ 0.17 | |||||||||||||||||
Equity 10 [Member] | ||||||||||||||||||
Number of shares issued/sold | 15,000 | |||||||||||||||||
Cost | $ 1,950 | |||||||||||||||||
Per share cost | $ 0.13 | |||||||||||||||||
Equity 9 [Member] | ||||||||||||||||||
Number of shares issued/sold | 105,000 | |||||||||||||||||
Cost | $ 13,493 | |||||||||||||||||
Per share cost | $ 0.1285 | |||||||||||||||||
Equity 14 [Member] | ||||||||||||||||||
Number of shares issued/sold | 15,000 | |||||||||||||||||
Cost | $ 1,922 | |||||||||||||||||
Per share cost | $ 0.1281 | |||||||||||||||||
Equity 13 [Member] | ||||||||||||||||||
Number of shares issued/sold | 10,000 | |||||||||||||||||
Cost | $ 5,543 | |||||||||||||||||
Per share cost | $ 0.17 | |||||||||||||||||
Equity 8 [Member] | ||||||||||||||||||
Number of shares issued/sold | 30,000 | |||||||||||||||||
Cost | $ 5,543 | |||||||||||||||||
Per share cost | $ 0.1281 | |||||||||||||||||
Equity 7 [Member] | ||||||||||||||||||
Number of shares issued/sold | 105,000 | |||||||||||||||||
Per share value | $ 0.10 | |||||||||||||||||
Cost | $ 10,500 | |||||||||||||||||
Per share cost | $ 0.10 | |||||||||||||||||
Equity 6 [Member] | ||||||||||||||||||
Number of shares issued/sold | 500,000 | |||||||||||||||||
Proceeds from shares sold | $ 5,000 | |||||||||||||||||
Desription of transaction | On September 27, 2016 the Company issued 700,000 and 500,000 shares, respectively, to two consultants for services to be provided, based on the fair market value of the stock on that date of $0.01 per share or a total cost of $12,000. The 700,000 common shares were recorded at $0.01per share, based on the fair market value of the stock on September 27, 2016, and were recorded as a prepaid expense, of $7,000, to be amortized, over the term of the contract. In addition, this consultant will accrue $8,000 in fees with the consultant having the option to convert the accrued fees into 25,000 shares of common stock each quarter. Similarly, the 500,000 common shares were valued at $0.01, based on the fair market value of the stock on September 27, 2016, and were recorded as a prepaid expense, of $5,000, to be amortized, over the term of the contract. The contracts contained a commitment to issue an additional 300,000 and 250,000 shares, respectively, by March 31, 2017. | |||||||||||||||||
Per share value | $ 0.01 | |||||||||||||||||
Equity 5 [Member] | ||||||||||||||||||
Number of shares issued/sold | 700,000 | |||||||||||||||||
Proceeds from shares sold | $ 7,000 | |||||||||||||||||
Desription of transaction | On September 27, 2016 the Company issued 700,000 and 500,000 shares, respectively, to two consultants for services to be provided, based on the fair market value of the stock on that date of $0.01 per share or a total cost of $12,000. The 700,000 common shares were recorded at $0.01per share, based on the fair market value of the stock on September 27, 2016, and were recorded as a prepaid expense, of $7,000, to be amortized, over the term of the contract. In addition, this consultant will accrue $8,000 in fees with the consultant having the option to convert the accrued fees into 25,000 shares of common stock each quarter. Similarly, the 500,000 common shares were valued at $0.01, based on the fair market value of the stock on September 27, 2016, and were recorded as a prepaid expense, of $5,000, to be amortized, over the term of the contract. The contracts contained a commitment to issue an additional 300,000 and 250,000 shares, respectively, by March 31, 2017. | |||||||||||||||||
Per share value | $ 0.01 | |||||||||||||||||
Equity 4 [Member] | ||||||||||||||||||
Number of shares issued/sold | 25,000 | |||||||||||||||||
Per share value | $ 0.1051 | |||||||||||||||||
Cost | $ 2,628 | |||||||||||||||||
Per share cost | $ 0.1051 | |||||||||||||||||
Equity 3 [Member] | ||||||||||||||||||
Number of shares issued/sold | 50,000 | |||||||||||||||||
Per share value | $ 0.26 | |||||||||||||||||
Cost | $ 13,000 | |||||||||||||||||
Per share cost | $ 0.26 | |||||||||||||||||
Equity 2 [Member] | ||||||||||||||||||
Number of shares issued/sold | 7,249,999 | |||||||||||||||||
Per share value | $ 0.26 | |||||||||||||||||
Cost | $ 1,885,000 | |||||||||||||||||
Equity [Member] | ||||||||||||||||||
Number of shares issued/sold | 12,000,000 | |||||||||||||||||
Proceeds from shares sold | $ 30,000 | |||||||||||||||||
Per share value | $ 0.0025 | |||||||||||||||||
Per share cost | $ 0.025 |
STOCK PURCHASE WARRANTS - Fair
STOCK PURCHASE WARRANTS - Fair value assumptions (Details) | 9 Months Ended |
Sep. 30, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Risk-free interest rate minimum | 1.06% |
Risk-free interest rate maximum | 2.32% |
Expected options life | 5 years |
Expected price volatility minimum | 313.00% |
Expected price volatility maximum | 330.11% |
STOCK PURCHASE WARRANTS - Chang
STOCK PURCHASE WARRANTS - Changes and status of options (Details) | 9 Months Ended |
Sep. 30, 2017shares | |
Other Liabilities Disclosure [Abstract] | |
Outstanding at December 31, 2016 | 1,739,763 |
Warrants granted | 1,480,179 |
Outstanding at June 30, 2017 | 3,219,942 |
STOCK PURCHASE WARRANTS - Summa
STOCK PURCHASE WARRANTS - Summary of options and warrants (Details) | 9 Months Ended |
Sep. 30, 2017USD ($)$ / sharesshares | |
Warrant [Member] | |
Exercise Price | $ 0.06 |
Warrants Outstanding | $ | $ 1,666,667 |
Warrants Outstanding - Weighted Average Remaining Contractual Life (in years) | 2 years 2 months 2 days |
Warrants Outstanding - Weighted Average Exercise Price | $ 0.06 |
Warrants Exercisable | shares | 1,666,667 |
Warrants Exercisable - Weighted Average Exercise Price | $ 0.06 |
Warrant 2 [Member] | |
Exercise Price | $ 0.50 |
Warrants Outstanding | $ | $ 1,005,619 |
Warrants Outstanding - Weighted Average Remaining Contractual Life (in years) | 4 years 6 months |
Warrants Outstanding - Weighted Average Exercise Price | $ 0.50 |
Warrants Exercisable | shares | 1,005,619 |
Warrants Exercisable - Weighted Average Exercise Price | $ 0.50 |
Warrant 3 [Member] | |
Exercise Price | $ 0.1333 |
Warrants Outstanding | $ | $ 547,656 |
Warrants Outstanding - Weighted Average Remaining Contractual Life (in years) | 4 years 7 months 22 days |
Warrants Outstanding - Weighted Average Exercise Price | $ 0.1333 |
Warrants Exercisable | shares | 547,656 |
Warrants Exercisable - Weighted Average Exercise Price | $ 0.1333 |
STOCK PURCHASE WARRANTS (Detail
STOCK PURCHASE WARRANTS (Details Narrative) - USD ($) | 1 Months Ended | |||
Jul. 27, 2017 | Jun. 27, 2017 | Mar. 14, 2017 | Dec. 31, 2016 | |
Other Liabilities Disclosure [Abstract] | ||||
Warrants Issued | 47,656 | 932,523 | 500,000 | 73,096 |
Term of Warrants | 5 years | 5 years | ||
Stock price per share | 18.00% | 20.00% | ||
Exercise Price per share | $ 0.13333 | $ 0.50 | ||
Warrant, value | $ 8,521 | $ 186,276 | $ 64,986 |