Note 13. Convertible Debt | NOTE 13. CONVERTIBLE DEBT On January 27, 2017, The Company executed a convertible promissory note with Power Up Lending Group, Ltd. The note carries a principal balance of $43,000 together with an interest rate of eight percent (8%) per annum and a maturity date of November 2, 2017. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share in accordance with the terms of the note agreement shall be made in lawful money of the United States of America. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is paid. The holder shall have the right from time to time, and at any time during the period beginning on the date which is one hundred eighty (180) days following the date of this note, to convert all or any part of the outstanding and unpaid principal amount into Common Stock. The conversion shall equal sixty-one percent (58%) of the e of the lowest trading price for the Common Stock during the fifteen-day trading period ending on the latest complete trading day prior to the conversion date, representing a discount rate of forty-two percent (42%). The Company accounts for this beneficial conversion feature as a derivative under ASC 815-10-15-83 and valued separately from the note at fair value. The beneficial conversion feature of the note is revalued at each subsequent reporting date at fair value and any changes in fair value will result in a gain or loss in those periods. At June 30, 2017, the fair value of beneficial conversion feature was $92,742. The Company recorded the fair value of beneficial conversion feature as debt discount. For the 6 months ended June 30, 2017 the total interest expense recorded was $36,789 resulting in a debt discount balance of $(6,211) . June 30, 2017 December 31, 2016 Power Up Lending Group, Ltd., a non-related party convertible promissory note: $43,000 $ 0 Debt discount (6,211) 0 Convertible notes payable net of debt discount 36,789 0 Accrued interest 1,451 0 Current portion of convertible note payable and interest $38,240 $0 On February 14, 2017, The Company executed a convertible promissory note with Auctus Fund, LLC. The note carries a principal balance of $68,750 together with an interest rate of eight percent (12%) per annum and a maturity date of November 14, 2017. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share in accordance with the terms of the note agreement shall be made in lawful money of the United States of America. The holder shall have the right from time to time, and at any time during the period beginning on the date of this note, to convert all or any part of the outstanding and unpaid principal amount into Common Stock. The conversion shall equal sixty-one percent (55%) of the e of the lowest trading price for the Common Stock during the fifteen-day trading period ending on the latest complete trading day prior to the conversion date, representing a discount rate of forty-two percent (45%). The Company accounts for this beneficial conversion feature as a derivative under ASC 815-10-15-83 and valued separately from the note at fair value. The beneficial conversion feature of the note is revalued at each subsequent reporting date at fair value and any changes in fair value will result in a gain or loss in those periods. At June 30, 2017, the fair value of beneficial conversion feature was $48,453. The Company recorded the fair value of beneficial conversion feature as debt discount. For the 6 months ended June 30, 2017 the total interest expense recorded was $51,944 resulting in a debt discount balance of $16,806. Convertible Note payable consisted of the following as of June 30, 2017: June 30, 2017 December 31, 2016 Auctus Fund, LLC, a non-related party convertible promissory note: 68,750 0 Debt discount (16,806) 0 Convertible notes payable net of debt discount 51,944 0 Accrued interest 3,074 0 Current portion of convertible note payable and interest 55,018 0 On April 24 2017, The Company executed a convertible promissory note with Crown Bridge Partners, LLC. The note carries a principal balance of $30,000 together with an interest rate of twelve percent (12%) per annum and a maturity date of April 23, 2018. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share in accordance with the terms of the note agreement shall be made in lawful money of the United States of America. The holder shall have the right from time to time, and at any time during the period beginning on the date of this note, to convert all or any part of the outstanding and unpaid principal amount into Common Stock. The conversion shall equal fifty-five percent (55%) of the of the lowest trading price for the Common Stock during the fifteen-day trading period ending on the latest complete trading day prior to the conversion date, representing a discount rate of forty-two percent (45%). The Company accounts for this beneficial conversion feature as a derivative under ASC 815-10-15-83 and valued separately from the note at fair value. The beneficial conversion feature of the note is revalued at each subsequent reporting date at fair value and any changes in fair value will result in a gain or loss in those periods. At June 30, 2017, the fair value of beneficial conversion feature was $55,798. The Company recorded the fair value of beneficial conversion feature as debt discount. For the 6 months ended June 30, 2017 the total interest expense recorded was $5,507 resulting in a debt discount balance of $(24,496). Convertible Note payable consisted of the following as of June 30, 2017: June 30, 2017 December 31, 2016 Crown Bridge Partners, LLC, a non-related party convertible promissory note: 30,000 0 Debt discount (24,493) 0 Convertible notes payable net of debt discount 5,507 0 Accrued interest 661 0 Current portion of convertible note payable and interest 6,168 0 On May 19, 2017, The Company executed a convertible promissory note with Eagle Equities, LLC. The note carries a principal balance of $30,000 together with an interest rate of twelve percent (8%) per annum and a maturity date of January 12, 2018. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share in accordance with the terms of the note agreement shall be made in lawful money of the United States of America. The holder shall have the right from time to time, and at any time during the period beginning on the date of this note, to convert all or any part of the outstanding and unpaid principal amount into Common Stock. The conversion shall equal fifty-five percent (55%) of the of the lowest trading price for the Common Stock during the fifteen-day trading period ending on the latest complete trading day prior to the conversion date, representing a discount rate of forty-two percent (45%). The Company accounts for this beneficial conversion feature as a derivative under ASC 815-10-15-83 and valued separately from the note at fair value. The beneficial conversion feature of the note is revalued at each subsequent reporting date at fair value and any changes in fair value will result in a gain or loss in those periods. At June 30, 2017, the fair value of beneficial conversion feature was $55,629. The Company recorded the fair value of beneficial conversion feature as debt discount. For the 6 months ended June 30, 2017 the total interest expense recorded was $7,000 resulting in a debt discount balance of $(23,000). Convertible Note payable consisted of the following as of June 30, 2017: June 30, 2017 December 31, 2016 Eagle Equities, LLC, a non-related party convertible promissory note: 30,000 0 Debt discount (23,000) 0 Convertible notes payable net of debt discount 7,000 0 Accrued interest 276 0 Current portion of convertible note payable and interest 7,276 0 On June 26, 2017, The Company executed a convertible promissory note with GS Capital Partners, LLC. The note carries a principal balance of $42,000 together with an interest rate of twelve percent (8%) per annum and a maturity date of June 25, 2018. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share in accordance with the terms of the note agreement shall be made in lawful money of the United States of America. The holder shall have the right from time to time, and at any time during the period beginning on the date of this note, to convert all or any part of the outstanding and unpaid principal amount into Common Stock. The conversion shall equal fifty-five percent (40%) of the of the lowest trading price for the Common Stock during the fifteen-day trading period ending on the latest complete trading day prior to the conversion date, representing a discount rate of forty-two percent (60%). The Company accounts for this beneficial conversion feature as a derivative under ASC 815-10-15-83 and valued separately from the note at fair value. The beneficial conversion feature of the note is revalued at each subsequent reporting date at fair value and any changes in fair value will result in a gain or loss in those periods. At June 30, 2017, the fair value of beneficial conversion feature was $57,517. The Company recorded the fair value of beneficial conversion feature as debt discount. For the 6 months ended June 30, 2017 the total interest expense recorded was $933 resulting in a debt discount balance of $(24,496). Convertible Note payable consisted of the following as of June 30, 2017: June 30, 2017 December 31, 2016 GS Capital Partners, LLC, a non-related party convertible promissory note: 42,000 0 Debt discount (41,067) 0 Convertible notes payable net of debt discount 933 0 Accrued interest 37 0 Current portion of convertible note payable and interest 970 0 On June 2, 2017, The Company executed a convertible promissory note with LG Capital Funding, LLC. The note carries a principal balance of $30,000 together with an interest rate of twelve percent (8%) per annum and a maturity date of February 2, 2018. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share in accordance with the terms of the note agreement shall be made in lawful money of the United States of America. The holder shall have the right from time to time, and at any time during the period beginning on the date of this note, to convert all or any part of the outstanding and unpaid principal amount into Common Stock. The conversion shall equal fifty-five percent (55%) of the of the lowest trading price for the Common Stock during the fifteen-day trading period ending on the latest complete trading day prior to the conversion date, representing a discount rate of forty-two percent (45%). The Company accounts for this beneficial conversion feature as a derivative under ASC 815-10-15-83 and valued separately from the note at fair value. The beneficial conversion feature of the note is revalued at each subsequent reporting date at fair value and any changes in fair value will result in a gain or loss in those periods. At June 30, 2017, the fair value of beneficial conversion feature was $71,807. The Company recorded the fair value of beneficial conversion feature as debt discount. For the 6 months ended June 30, 2017 the total interest expense recorded was $6,222 resulting in a debt discount balance of $(33,778). Convertible Note payable consisted of the following as of June 30, 2017: June 30, 2017 December 31, 2016 LG Capital Funding, LLC, a non-related party convertible promissory note: 40,000 0 Debt discount (33,778) 0 Convertible notes payable net of debt discount 6,222 0 Accrued interest 245 0 Current portion of convertible note payable and interest 6,467 0 On June 30, 2017, The Company executed a convertible promissory note with Peak One Opportunity Fund, L.P. The note carries a principal balance of $50,000 together with an interest rate of twelve percent (-0-%) per annum and a maturity date of June 30, 2020. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share in accordance with the terms of the note agreement shall be made in lawful money of the United States of America. The holder shall have the right from time to time, and at any time during the period beginning on the date of this note, to convert all or any part of the outstanding and unpaid principal amount into Common Stock. The conversion shall equal fifty-five percent (45%) of the of the lowest trading price for the Common Stock during the fifteen-day trading period ending on the latest complete trading day prior to the conversion date, representing a discount rate of forty-two percent (55%). The Company accounts for this beneficial conversion feature as a derivative under ASC 815-10-15-83 and valued separately from the note at fair value. The beneficial conversion feature of the note is revalued at each subsequent reporting date at fair value and any changes in fair value will result in a gain or loss in those periods. At June 30, 2017, the fair value of beneficial conversion feature was $83,475. The Company recorded the fair value of beneficial conversion feature as debt discount. For the 6 months ended June 30, 2017 the total interest expense recorded was $0 resulting in a debt discount balance of $10,000. Convertible Note payable consisted of the following as of June 30, 2017: June 30, 2017 December 31, 2016 Peak One Opportunity Fund, LLC, a non-related party convertible promissory note: 50,000 0 Debt discount (10,000) 0 Convertible notes payable net of debt discount 40,000 0 Accrued interest 0 0 Current portion of convertible note payable and interest 40,000 0 |