Oncolix 10-Q 12 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 20, 2016
Document and Entity Information:
Entity Central Index Key	1,584,137
Entity Registrant Name	Advanced Environmental Petroleum Producers Inc.
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Trading Symbol	aepp
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		94,381,633
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Assets, Current
Cash and Cash Equivalents
Total current assets
Intangible assets, net accumulated amortization of $0 and $0, respectively	3,502	3,502
TOTAL ASSETS	3,502	3,502
Current Liabilities
Accounts payable	159,794	127,699
Accrued interest	56,547	50,324
Notes payable	88,800	126,300
Total current liabilities	305,141	304,323
TOTAL LIABILITIES	305,141	304,323
Stockholders' Deficit
Common stock: $0.0001 par value 500,000,000 authorized; 92,781,633 and 80,331,633 shares issued and outstanding, respectively	9,278	8,033
Common stock held in escrow	(7,052)	(6,560)
Additional paid-in capital	299,174	258,427
Accumulated Deficit	(603,039)	(560,721)
Total Stockholders' deficit	(301,639)	(300,821)
Total Liabilities and Stockholders' Deficit	$ 3,502	$ 3,502

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Condensed Balance Sheets Parenthetical
Net accumulated amortization	$ 0	$ 0
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares Issued	92,781,633	80,331,633
Common Stock, Shares Outstanding	92,781,633	80,331,633

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Statements Of Operations
Revenues
Operating Expenses
Research and Development Expense		59		2,969
Professional fees	15,506	7,202	26,014	29,534
Selling, general and administrative expense		1,461	10,081	8,604
Total operating Expenses	15,506	8,722	36,095	41,107
Net loss from Operations	(15,506)	(8,722)	(36,095)	(41,107)
Other income (expense)
Interest expense	(3,030)	(5,050)	(6,223)	(10,045)
Net loss before income taxes	(18,536)	(13,772)	(42,318)	(51,152)
Income taxes
Net loss	$ (18,536)	$ (13,772)	$ (42,318)	$ (51,152)
Basic and diluted loss per share	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding	86,484,929	31,635,598	84,746,907	31,635,598

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (42,318)	$ (51,152)
Changes in assets and liabilities:
Prepaid expense		2,000
Increase in accounts payable	32,095	27,155
Increase in accrued interest	6,223	10,045
Net Cash (used in) operating activities	(4,000)	(11,952)
CASH FLOWS FROM INVESTING ACTIVITIES:
Development of intangible assets		(3,502)
Net cash (used in) investing activities		(3,502)
CASH FLOWS FROM FINANCING ACTIVITIES:
Reduction of notes payable	(37,500)
Conversion of note payable into common stock	41,500
Net Cash provided by financing activities	4,000
Net increase (decrease) in cash and cash equivalents		(15,454)
Cash and cash equivalents Beginning of Period		15,454
Cash and cash equivalents End of Period
Supplemental disclosure of cash flow information
Cash paid for interest
Cash paid for taxes

Note 1. Nature of Business

Note 1. Nature of Business	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 1. Nature of Business	ORGANIZATION Advanced Environmental Petroleum Producers Inc., f/k/a Electric Vehicle Research Corporation (hereinafter "AEPP") is a company incorporated in the State of Florida in June 2013. We were formed as a consultant to the electric vehicle research and technologies industry. The electric vehicle research and technologies industry is subject to constant change due to market trends, thereby making it extremely competitive. The electric vehicle research and technologies industry is complex, because several segments are regulated by both federal and state governments. AEPP's approach assists general business operations with the growth and development, international expansion and marketing aspects of their business, allowing our potential customers to focus on the business aspects of operations. By using the services provided by AEPP, our clients are free to focus on compliance with regulations within their industry, and to complete their primary business goals.

Note 2. Going Concern

Note 2. Going Concern	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 2. Going Concern	The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating cost and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan to obtain such resources for the Company include, obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Note 3. Summary of Significant

Note 3. Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 3. Summary of Significant Accounting Policies	UNAUDITED INTERIM FINANCIAL STATEMENTS The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles, for complete financial statements please refer to our 2015 Annual Report on Form 10-K, filed on April 14, 2016. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. USE OF ESTIMATES The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. CASH AND CASH EQUIVALENTS The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents totaled $0 at June 30, 2016 and $0 at December 31, 2015. CASH FLOWS REPORTING The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method ("Indirect method") as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period. FINANCIAL INSTRUMENTS The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures · Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities · Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. · Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2016 and December 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. INTANGIBLE ASSETS The Company is in the process of applying for patent protection for its products and technologies. The Company has applied the provision of ASC topic 350 – Intangible – goodwill and other, in accounting for its intangible assets. Due to the early stages of the process the Company has not capitalized the full cost of the provisional patent application process. Therefore, Intangible assets are currently not being amortized. As of June 30, 2016 and December 31, 2015 Intangible assets totaled $3,502 and $3,502, respectively. REVENUE RECOGNITION The Company follows ASC 605, Revenue Recognition The Company derives revenue from consulting arrangements with clients. Revenue is generated by hourly fee structure or fixed contract costs, based on expected time to complete, additionally, costs incurred may be billed, as defined by the contractual arrangements. RESEARCH AND DEVELOPMENT The Company expenses research and development costs when incurred. Research and development costs include engineering and testing of product and outputs. Indirect costs related to research and developments are allocated based on percentage usage to the research and development. We spent $0 and $59 in research and development costs for the three months ended June 30, 2016 and 2015, respectively and $0 and $2,969 in research and development costs for the six months ended June 30, 2016 and 2015, respectively. DEFERRED INCOME TAXES AND VALUATION ALLOWANCE The Company accounts for income taxes under ASC 740, Income Taxes NET INCOME (LOSS) PER COMMON SHARE Net income (loss) per share is calculated in accordance with ASC 260, "Earnings Per Share." The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share. Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding at June 30, 2016 and December 31, 2015. As of June 30, 2016, the Company had no dilutive potential common shares. RECENT ACCOUNTING PRONOUNCEMENTS Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ We have reviewed the FASB issued Accounting Standard Update ("ASU 2014-10") and have applied the standard as of the dates during the periods reported. We have reviewed the FASB issued Accounting Standard Update ("ASU 2014-09"). The Company does not believe that the new or modified principal will not have a material effect on these financial statements. We have reviewed the FASB issued Accounting Standards Update ("ASU") accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation's reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

Note 4. Income Taxes

Note 4. Income Taxes	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 4. Income Taxes	At June 30, 2016, the Company had a net operating loss carry–forward for Federal income tax purposes of $603,039 that may be offset against future taxable income through 2033. No tax benefit has been reported with respect to these net operating loss carry-forwards in the accompanying financial statements because the Company believes that the realization of the Company's net deferred tax assets of approximately $227,000, calculated at an effective tax rate of 34%, federal and 3.6% state, was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are fully offset by the valuation allowance of $227,000. Deferred tax assets consist primarily of the tax effect of NOL carry-forwards. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realizability. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service for the period from inception ended December 31, 2013 through the year ended December 31, 2015. The Company recognizes interest and penalties related to income taxes in income tax expense. The Company had incurred no penalties and interest for the period from inception ended December 31, 2013 through the year ended December 31, 2015. The open tax years are 2013, 2014 and 2015.

Note 5. Shareholders' Equity

Note 5. Shareholders' Equity	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 5. Shareholders' Equity	The Company, through approval of its Board of Directors, authorized common shares of 500,000,000 with a par value of $0.0001. On September 10, 2015, the majority shareholders of the Company approved a reverse stock split of one for 1,000 (1:1000) of the Company's total issued and outstanding shares of common stock. Pursuant to the Company's Bylaws and the Florida Division of Corporations, a vote by the holders of at least a majority of the Company's outstanding votes is required to affect the Stock Split. The Company's articles of incorporation do not authorize cumulative voting. As of the record date of September 10, 2015, the Company had 31,635,598 voting shares of common stock issued and outstanding. The consenting stockholders of the shares of common stock are entitled to 30,000,000 votes, which represents approximately 99% of the voting rights associated with the Company's shares of common stock. The consenting stockholders voted in favor of the Stock Split by unanimous written consent dated September 10, 2015. On October 9, 2015 FINRA approved the stock split to be effective October 13, 2015 and filed with the Securities and Exchange Commission on October 16, 2015. COMMON STOCK On January 6, 2016 the Company issued 30,000 shares of common stock to non-related parties in exchange for the extinguishment of $4,000 of accounts payable. The shares were issued at $0.005 per share. On February 11, 2016 the Company issued 4,920,000 shares of common stock to non-related parties. The shares were issued and are being held in escrow in addition to the shares issued as a part of the Share Purchase Agreement dated October 24, 2015. The shares were issued at $0.005 per share. During the period ending June 30, 2016 the Company issued 7,500,000 shares of common stock to several non-related parties in exchange for the extinguishment of $37,500 of notes payable. The shares were issued at $0.005 per share. There were 92,781,633 shares of common stock issued and outstanding at June 30, 2016 and 80,331,633 shares of common stock issued and outstanding at December 31, 2015. All issued and outstanding shares and per share prices are reflective of the one to one thousand (1:1,000) revere split effective October 13, 2015.

Note 6. Notes Payable

Note 6. Notes Payable	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 6. Notes Payable	Notes payable consisted of the following: June 30, 2016 December 31, 2015 New Opportunity Business Solutions, Inc., a non-related party for consulting services to the Company. Advanced Environmental Petroleum Producers Inc. (AEPP) is a client of New Opportunity Business Solutions, Inc. The original amount of the note payable was $199,800. The note states a 10% interest rate with no set maturity date and is due on demand. Payment of principal and interest is due on demand and is not contingent. However, to the extent that the Company incurs expense to accomplish the goal of the consulting agreement, the obligation of the company shall be reduced an equal amount. The note is as support for the consulting fee which was owed by AEPP but not paid as required. The loan is in default. Accrued interest at June 30, 2016 and December 31, 2015 was $56,547 and $50,324, respectively. $ 88,800 $ 126,300 Total notes payable $ 88,800 $ 126,300 Current portion $ 88,800 $ 126,300

Note 7. Commitments and Conting

Note 7. Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 7. Commitments and Contingencies	On October 24, 2015, the Company announced that it had entered into an agreement to acquire 100% of the issued and outstanding shares of 1923285 Alberta Ltd. ("Alberta") for 65,600,000 shares of the Company's common stock. Both the Company's 65,600,000 and 100% of the issued and outstanding Alberta Shares will be held in escrow until Alberta provides the Company with firstly, required audited financial statements, secondly, a certificate that the leases held by Alberta from Peru Petro (an entity owned by the Government of Peru) are unencumbered and are in good standing. It is anticipated that the audited financial statements and the report confirming the reserves and the potential reserves was to be completed before December 31, 2015 however due to unforeseen circumstances has been delayed but is still pending. Alberta was incorporated in 2015 in the province of Alberta. Alberta has ownership interests in a lease that encompasses 10,100 square Kilometers of oil and gas and mineral leases in the country of Peru known as "Block 19". From time to time the Company may be a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company's financial position or results of operations.

Note 8. Warrants and Options

Note 8. Warrants and Options	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 8. Warrants and Options	There are no warrants or options outstanding to acquire any additional shares of common stock of the Company as of June 30, 2016.

Note 9. Subsequent Events

Note 9. Subsequent Events	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Note 9. Subsequent Events	On July 6, 2016 the Company announced it had acquired the Technical Evaluation Agreement from 1923285 Alberta Ltd. resulting in the shares held in escrow to be released On July 8, 2016 issued 1,600,000 shares of common stock to a non-related parties in exchange for the extinguishment of $8,000 of notes payable. The shares were issued at $0.005 per share. On July 16, 2016, the Company announced that it has entered into a verbal final agreement to retire all of the outstanding past due liabilities as stated on the 10Q filed with the Securities and Exchange Commission dated May 20, 2016. Per the terms of the agreement there will be 4,920,000 common shares cancelled from the shares issued in escrow in October 2015 and the new issuance of 4,450,000 common shares resulting in a reduction of 470,000 current issued and outstanding common shares. This agreement brings the total issued and outstanding to 93,911,633 of which 28,311,633 are considered issued without restriction due to rule 144 exemption.

Note 3. Summary of Significan15

Note 3. Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Note 3. Summary Of Significant Accounting Policies Policies
Unaudited Interim Finanical Statements	The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles, for complete financial statements please refer to our 2015 Annual Report on Form 10-K, filed on April 14, 2016. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year.
Use of Estimates	The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents totaled $0 at June 30, 2016 and $0 at December 31, 2015.
Cash Flows Reporting	The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method ("Indirect method") as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period.
Financial Instruments	The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures · Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities · Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. · Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2016 and December 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
Intangible Assets	The Company is in the process of applying for patent protection for its products and technologies. The Company has applied the provision of ASC topic 350 – Intangible – goodwill and other, in accounting for its intangible assets. Due to the early stages of the process the Company has not capitalized the full cost of the provisional patent application process. Therefore, Intangible assets are currently not being amortized. As of June 30, 2016 and December 31, 2015 Intangible assets totaled $3,502 and $3,502, respectively.
Revenue Recognition	The Company follows ASC 605, Revenue Recognition The Company derives revenue from consulting arrangements with clients. Revenue is generated by hourly fee structure or fixed contract costs, based on expected time to complete, additionally, costs incurred may be billed, as defined by the contractual arrangements.
Research and Development	The Company expenses research and development costs when incurred. Research and development costs include engineering and testing of product and outputs. Indirect costs related to research and developments are allocated based on percentage usage to the research and development. We spent $0 and $59 in research and development costs for the three months ended June 30, 2016 and 2015, respectively and $0 and $2,969 in research and development costs for the six months ended June 30, 2016 and 2015, respectively.
Deferred Income Taxes and Valuation Allowance	The Company accounts for income taxes under ASC 740, Income Taxes
Net Income (Loss) Per Common Share	Net income (loss) per share is calculated in accordance with ASC 260, "Earnings Per Share." The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share. Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding at June 30, 2016 and December 31, 2015. As of June 30, 2016, the Company had no dilutive potential common shares.
Recent Accounting Pronouncements	Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ We have reviewed the FASB issued Accounting Standard Update ("ASU 2014-10") and have applied the standard as of the dates during the periods reported. We have reviewed the FASB issued Accounting Standard Update ("ASU 2014-09"). The Company does not believe that the new or modified principal will not have a material effect on these financial statements. We have reviewed the FASB issued Accounting Standards Update ("ASU") accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation's reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

Note 6. Notes Payable (Tables)

Note 6. Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2016
Note 6. Notes Payable Tables
Notes Payable	Notes payable consisted of the following: June 30, 2016 December 31, 2015 New Opportunity Business Solutions, Inc., a non-related party for consulting services to the Company. Advanced Environmental Petroleum Producers Inc. (AEPP) is a client of New Opportunity Business Solutions, Inc. The original amount of the note payable was $199,800. The note states a 10% interest rate with no set maturity date and is due on demand. Payment of principal and interest is due on demand and is not contingent. However, to the extent that the Company incurs expense to accomplish the goal of the consulting agreement, the obligation of the company shall be reduced an equal amount. The note is as support for the consulting fee which was owed by AEPP but not paid as required. The loan is in default. Accrued interest at June 30, 2016 and December 31, 2015 was $56,547 and $50,324, respectively. $ 88,800 $ 126,300 Total notes payable $ 88,800 $ 126,300 Current portion $ 88,800 $ 126,300

Note 3. Summary of Significan17

Note 3. Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Note 3. Summary Of Significant Accounting Policies Details Narrative
Cash and Cash Equivalents
Intangible assets, net	3,502		3,502		$ 3,502
Research and Development Expense		$ 59		$ 2,969

Note 4. Income Taxes (Details N

Note 4. Income Taxes (Details Narrative)	6 Months Ended
	Jun. 30, 2016USD ($)
Note 4. Income Taxes Details Narrative
Operating Loss Carryforwards	$ 603,039
Net operating loss carryforward, expiration dates	2,033
Deferred Tax Assets, Net	$ 227,000
Effective Income Tax Rate Reconciliation, Federal, Percent	34.00%
Effective Income Tax Rate Reconciliation, State, Percent	3.60%
Valuation Allowance	$ 227,000

Note 5. Shareholders' Equity (D

Note 5. Shareholders' Equity (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Note 5. Shareholders Equity Details Narrative
Common Stock, Shares Issued	92,781,633	80,331,633
Common Stock, Shares Outstanding	92,781,633	80,331,633
Stock issued for non related parties	7,500,000
Extinguishment of notes payable	$ 37,500
Stock price per share	$ 0.005

Note 6. Notes Payable (Details)

Note 6. Notes Payable (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Note 6. Notes Payable Details
Note Payable	$ 88,800	$ 126,300
Total notes payable	88,800	126,300
Current portion	$ 88,800	$ 126,300

Note 6. Notes Payable (Details

Note 6. Notes Payable (Details Narrative) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Note 6. Notes Payable Details Narrative
Accrued interest	$ 56,547	$ 50,324