Convertible Notes Payable | Note 6. Convertible Notes Payable Convertible notes payable consists of the following as of July 31, 2018 and January 31, 2018: July 31, 2018 January 31, 2018 Convertible note, dated July 31, 2015, bearing interest at 10% per annum, maturing on July 31, 2017 and convertible into shares of common stock at $0.01 per share, in default 72,640 72,640 Convertible note, dated October 31, 2015, bearing interest at 10% per annum, maturing on October 31, 2018 and convertible into shares of common stock at $0.50 per share 156,976 156,976 Convertible note, dated January 31, 2016, bearing interest at 10% per annum, maturing on January 31, 2019 and convertible into shares of common stock at a 60% discount to the market price 82,735 82,735 Convertible note, dated March 14, 2016, bearing interest at 8% per annum, maturing on March 14, 2017, and convertible into shares of common stock at a4 5% discount to the market price, in default 1,217 1,217 Convertible note, dated May 26, 2016, bearing interest at 8% per annum, maturing on May 26, 2017, and convertible into shares of common stock at a 45% discount to the market price, in default 67,986 67,986 Convertible note, dated September 6, 2016, bearing interest at 8% per annum, maturing September 6, 2017, and convertible into shares of common stock at a 45% discount to the lowest trading price in the 20 days prior to conversion with a floor on the conversion price of $0.00005 — 18,000 Convertible note, dated September 6, 2016, bearing interest at 8% per annum, maturing September 6, 2017, and convertible into shares of common stock at a 45% discount to the lowest trading price in the 20 days prior to conversion with a floor on the conversion price of $0.00005, in default 40,000 40,000 Convertible note, dated February 6, 2018, bearing interest at 8% per annum, maturing November 6, 2018, and convertible into shares of common stock at a 45% discount to the lowest trading price in the 20 days prior to conversion with a floor on the conversion price of $0.00005 150,000 — Total convertible notes payable $ 571,554 $ 439,554 Less: current portion of convertible notes payable (571,554 ) (371,569 ) Less: discount on noncurrent convertible notes payable — (50,800 ) Convertible notes payable - non-current, net of discount $ — $ 17,185 Current portion of convertible notes payable $ 571,554 $ 371,569 Less: discount on current convertible notes payable (306,152 ) (224,861 ) Convertible notes payable, net of discount $ 265,402 $ 146,708 Issuance of Convertible Promissory Notes During the six months ended July 31, 2018 and 2017, we issued Convertible Promissory Notes. The Convertible Promissory Notes bear interest and are payable at maturity along with accrued interest. The Convertible Promissory Notes and unpaid accrued interest are convertible into common stock at the option of the holder. Date Issued Maturity Date Interest Rate Conversion Rate Amount of Note February 6, 2018 November 6, 2018 8% 45% discount $ 150,000 Date Issued Maturity Date Interest Rate Conversion Rate Amount of Note March 14, 2016 March 14, 2017 8% 55% discount $ 65,000 April 30, 2016 April 30, 2019 10% 60% discount 67,986 We evaluated the terms of the new notes in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity’s Own Stock Convertible Promissory Notes Issued for Cash On February 6, 2018, we issued a convertible promissory note to a third party for cash. The note (the “front-end note”) was in the amount of $150,000, and it matures on November 6, 2018. The note bears interest at 8% per year and is convertible into shares of our common stock at a 45% discount to our lowest trading price over the preceding 20 days with a floor on the conversion price of $0.00005. We evaluated the terms of the note in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity’s Own Stock Conversions to Common Stock During six months ended July 31, 2017, the holders of our convertible promissory notes converted $211,615 of principal and accrued interest into 2,904,086 shares of our common stock. See Note 7. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement which provided for conversion. During six months ended July 31, 2018, the holders of our convertible promissory notes converted $18,904 of principal and accrued interest into 343,709 shares of our common stock. See Note 7. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement which provided for conversion. |