Document and Entity Information
Document and Entity Information - USD ($) | May 09, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Details | |||
Registrant Name | TYG Solutions Corp. | ||
Registrant CIK | 1,615,999 | ||
SEC Form | 10-K | ||
Period End date | Dec. 31, 2017 | ||
Fiscal Year End | --12-31 | ||
Trading Symbol | tygs | ||
Tax Identification Number (TIN) | 462,645,343 | ||
Number of common stock shares outstanding | 9,530,000 | ||
Public Float | $ 0 | ||
Filer Category | Smaller Reporting Company | ||
Current with reporting | Yes | ||
Voluntary filer | No | ||
Well-known Seasoned Issuer | No | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Entity Incorporation, State Country Name | Delaware | ||
Entity Address, Address Line One | 550 West C Street, Suite 2040 | ||
Entity Address, City or Town | San Diego | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 92,101 | ||
City Area Code | 858 | ||
Local Phone Number | 883-2642 | ||
Entity Listing, Par Value Per Share | $ 0.0001 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash | $ 1,757 | $ 28 |
Accounts receivable | 0 | 10,000 |
Receivable related party | 130 | 0 |
Total current assets | 1,887 | 10,028 |
Total assets | 1,887 | 10,028 |
Current Liabilities: | ||
Loan and advances payable - related party | 44,590 | 19,585 |
Accounts payable | 1,115 | 16,818 |
Other current liability | 5,000 | 0 |
Total current liabilities | 50,705 | 36,403 |
Stockholders' Deficit: | ||
Common Stock, Value | 953 | 953 |
Additional paid in capital | 34,797 | 34,797 |
Accumulated Deficit | (84,568) | (62,125) |
Total stockholders' deficit | (48,818) | (26,375) |
Total liabilities and stockholders' deficit | $ 1,887 | $ 10,028 |
Balance Sheets - Parenthetical
Balance Sheets - Parenthetical - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Details | ||
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares, Issued | 9,530,000 | 9,530,000 |
Common Stock, Shares, Outstanding | 9,530,000 | 9,530,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Details | ||
Revenue | $ 1,154 | $ 34,970 |
Cost of revenues | 0 | 21,000 |
Gross profit | 1,154 | 13,970 |
Sales and Marketing expenses | 0 | 15,730 |
General and Administrative expenses | 23,597 | 30,264 |
Total operating expenses | 23,597 | 45,994 |
Operating loss | (22,443) | (32,024) |
Loss before income taxes | (22,443) | (32,024) |
Provision for Income Taxes | 0 | 0 |
Net Loss | $ (22,443) | $ (32,024) |
Earnings (Loss) Per Common Share | $ 0 | $ 0 |
Common Shares Outstanding | 9,530,000 | 9,530,000 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Total | Common Stock |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2015 | $ 953 | |
Shares, Outstanding, Beginning Balance at Dec. 31, 2015 | 9,530,000 | |
Net Loss | $ (32,024) | $ 0 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2016 | $ 953 | |
Shares, Outstanding, Ending Balance at Dec. 31, 2016 | 9,530,000 | |
Net Loss | $ (22,443) | $ 0 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2017 | $ 953 | |
Shares, Outstanding, Ending Balance at Dec. 31, 2017 | 9,530,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (22,443) | $ (32,024) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Decrease (increase) in accounts receivable | 10,000 | (10,000) |
Increase in related party receivable | (130) | 0 |
Increase (decrease) in accounts payable | (15,703) | 16,818 |
Increase in other current liability | 5,000 | 0 |
Decrease in customer advances | 0 | (24,970) |
Net cash used in operating activities | (23,276) | (50,176) |
FINANCING ACTIVITIES: | ||
Proceeds from related party loans | 25,005 | 2,378 |
Cash provided by financing activities | 25,005 | 2,378 |
Net change in cash | 1,729 | (47,798) |
Cash, Beginning of Period | 28 | 47,826 |
Cash, End of Period | 1,757 | 28 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest | 0 | 0 |
Income taxes | $ 0 | $ 0 |
Note 1 - General Organization a
Note 1 - General Organization and Business | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 1 - General Organization and Business | NOTE 1. GENERAL ORGANIZATION AND BUSINESS TYG Solutions Corp (the Company) was incorporated under the laws of the state of Delaware on March 25, 2013. The Company began limited operations on May 30, 2013. The Company is engaged in mobile app development and corporate website design. The Companys activities are subject to significant risks and uncertainties including failure to increase sales revenue and secure additional funding to properly execute the companys business plan. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES Basis of Presentation The accompanying financial statements have been prepared in accordance with GAAP. The Companys year-end is December 31. Use of Estimates The preparation of financial statements in conformity 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 revenue 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 maturity of three months or less when purchased to be cash equivalents. Accounts Receivable Credit is extended to customers based upon an evaluation of the customers financial condition. Accounts receivable are recorded at net realizable value. The Company utilizes a specific identification accounts receivable reserve methodology based on a review of outstanding balances and previous activities to determine the allowance for doubtful accounts. The Company charges off uncollectible receivables at the time the Company determines the receivable is no longer collectible. The Company does not require collateral or other security to support financial instruments subject to credit risk. As of December 31, 2017 and 2016, the carrying value of loans approximated fair value due to the short-term nature and maturity of these instruments. Revenue recognition The Company recognizes revenues in accordance with ASC No. 605-10-S99, (SEC Staff Accounting Bulletin (SAB) No. 104, Revenue Recognition), when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered to the customer, (iii) the fee is fixed or determinable, and (iv) collectability is reasonably assured. In situations with multiple deliverables, the Company recognizes revenue upon the delivery of the separate elements to the customer and when the Company receives customer acceptance or is otherwise released from its customer acceptance obligations. The Company allocates revenue consideration, based on the relative selling prices of the separate units of accounting contained within an arrangement containing multiple deliverables. Relative selling prices are determined using vendor specific objective evidence, if it exists; otherwise third-party evidence or the Companys best estimate of selling price is used for each deliverable. Sales and Marketing The Company recognizes sales and marketing expense as it is incurred. For the years ended December 31, 2017 and 2016, the Company incurred zero and $15,730, respectively, of sales and marketing expense. Income Taxes A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. When required, the Company records a liability for unrecognized tax positions, defined as the aggregate tax effect of differences between positions taken on tax returns and the benefits recognized in the financial statements. Tax positions are measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. No tax benefits are recognized for positions that do not meet this threshold. The Company has no uncertain tax positions that require the Company to record a liability. The federal income tax returns of the Company are subject to examination by the IRS, generally for three years after they are filed. The Company recognizes penalties and interest associated with tax matters as part of the income tax provision and includes accrued interest and penalties with the related tax liability in the balance sheet. The Company had no accrued penalties and interest as of December 31, 2017 or 2016. Earnings ( Loss) per Share The basic earnings (loss) per share is calculated by dividing our net income available to common shareholders by the number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing our net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. The Company has not issued any potentially dilutive debt or equity securities. Recently issued accounting pronouncements The Company will adopt Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) as of January 1, 2018. ASU 2014-09 will replace most existing revenue recognition guidance in US GAAP when it becomes effective. Management has evaluated the impact of the Companys adoption of ASU 2014-09 on its financial statements and does not expect the new standard to have a significant impact on its financial position, results of operations and related disclosures. To make this determination, management has identified the contract with its customer, identified the performance obligations, determined the transaction price, allocated the transaction price to the performance obligations in the contract, and recognized revenue when the Company satisfies the performance obligation. |
Note 3 - Income Taxes
Note 3 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 3 - Income Taxes | NOTE 3. INCOME TAXES There is no current or deferred income tax expense or benefit allocated to continuing operations for the years ended December 31, 2017 and 2016. The Company uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. As of December 31, 2017 and 2016, applying the statutory income tax rate the Company had deferred tax assets of approximately $28,753 and $21,122 related to net operating losses, respectively. A valuation allowance was recorded against the tax assets to reduce the carrying value to zero. As of December 31, 2017, the Company had net operating loss carry-forwards totaling approximately $84,568 which will begin expiring in 2037. The Company has no uncertain tax positions that require the Company to record a liability. The Company had no accrued penalties and interest related to taxes as of December 31, 2017 or 2016. |
Note 4 - Stockholders' Equity
Note 4 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 4 - Stockholders' Equity | NOTE 4. STOCKHOLDERS EQUITY The Company is authorized to issue 200,000,000 shares of $0.0001 par value common stock. All common stock shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company. |
Note 5 - Conflicts of Interest
Note 5 - Conflicts of Interest | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 5 - Conflicts of Interest | NOTE 5. CONFLICTS OF INTEREST The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts. |
Note 6 - Related Party Loans an
Note 6 - Related Party Loans and Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 6 - Related Party Loans and Transactions | NOTE 6 RELATED PARTY LOANS AND TRANSACTIONS As of December 31, 2017 and 2016, loans and advances from related parties amounted to $44,590 and $19,585, respectively. The loans represent working capital advances from shareholders, are unsecured, non-interest bearing, and due on demand. |
Note 7- Concentration Risks
Note 7- Concentration Risks | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 7- Concentration Risks | NOTE 7 CONCENTRATION RISKS The Company has generated revenues from three customers with costs of two subcontractors. It is considered at least reasonably possible that any customer or subcontractor will be lost in the near term. |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Notes | |
Note 8 - Subsequent Events | NOTE 8 SUBSEQUENT EVENTS On February 16, 2018 the Company issued a Convertible Note to a shareholder, face value $500,000, in exchange for $500,000 in cash. The Note is unsecured, bears interest at the rate of 3% per annum and matures on February 16, 2030. The Note is convertible into common stock of the Company at any time at the option of the holder subject to a 4.9% blocking provision which prohibits the holder from converting into common stock of the Company if such conversion results in the holder owning greater than 4.9% of the outstanding common stock of the Company after giving effect to the conversion. Amended and Restated Certificate of Incorporation Effective May 1, 2018, the Companys Certificate of Incorporation was amended and restated to: (i) increase the total stock the Company is authorized to issue to 1,015,000,000 shares consisting of (a) 1,000,000,000 shares of Common stock, $0.0001 par value per share (Common Stock), and (b) 15,000,000 shares of Preferred stock, $0.0001 par value per share (Preferred Stock); (ii) authorize the directors of the Company to designate the shares and series of the Preferred Stock; (iii) provide indemnification for representatives of the Company; and (iv) in the event that any stockholder owns more than 5% of any class of equity security of the Company, require the approval of 75% of the voting securities of the Company for any proposed merger, consolidation or sale of substantially all of the assets of the Company. The forgoing is a summary only. Please refer to the Amended and Restated Certificate of Incorporation for the Company attached as Exhibit 3.2 to this Report for the complete text of the amendment and restatement. Amended and Restated Bylawsa Effective May 1, 2018, the Companys Bylaws were amended and restated to amend the Companys stockholder voting procedures, increase the size of the Companys Board of Directors from two members to seven directors comprised of up to four Series A Directors and up to three Series B Directors, provide greater indemnification by the Company of its officers, directors and employees, and define procedures for any future amendments to the Companys Bylaws. The foregoing is a summary only. Please refer to the Amended and Restated Bylaws for the Company attached as Exhibit 3.5 to this Report for the complete text of the amendment and restatement. Certificate of Designation of Series A Preferred Stock Effective May 3, 2018, the Companys Board of Directors authorized and designated 75 shares of the Companys Preferred Stock as Series A Preferred Stock. Each share of the Series A Preferred Stock in entitled to a liquidation preference of $1,000 per share and is convertible into 1,000 shares of the Companys Common Stock. The holders of a majority of the Series A Preferred Stock are entitled to elect up to four (4) directors to the Companys board of directors and any annual or special meeting and have preferential rights in regard to the election of Series A directors. In all other voting matters, the holders of Series A Preferred Stock are entitled to cast 1,000 votes per share. The foregoing is a summary only. Please refer to the Certificate of Designation of Series A Preferred Stock attached as Exhibit 3.3 to this Report for the complete text of the certificate of designation. Certificate of Designation of Series B Preferred Stock Effective May 3, 2018, the Companys Board of Directors authorized and designated 75 shares of the Companys Preferred Stock as Series B Preferred Stock. Each share of the Series B Preferred Stock in entitled to a liquidation preference of $1,000 per share and is convertible into 1,000 shares of the Companys Common Stock. The holders of a majority of the Series B Preferred Stock are entitled to elect up to three (3) directors to the Companys board of directors and any annual or special meeting and have preferential rights in regard to the election of Series B directors. In all other voting matters, the holders of Series B Preferred Stock are entitled to cast 1,000 votes per share. The foregoing is a summary only. Please refer to the Certificate of Designation of Series B Preferred Stock attached as Exhibit 3.4 to this Report for the complete text of the certificate of designation |
Note 2 - Summary of Significa15
Note 2 - Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with GAAP. The Companys year-end is December 31. |
Note 2 - Summary of Significa16
Note 2 - Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Note 2 - Summary of Significa17
Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. |
Note 2 - Summary of Significa18
Note 2 - Summary of Significant Accounting Policies: Accounts Receivable (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Accounts Receivable | Accounts Receivable Credit is extended to customers based upon an evaluation of the customers financial condition. Accounts receivable are recorded at net realizable value. The Company utilizes a specific identification accounts receivable reserve methodology based on a review of outstanding balances and previous activities to determine the allowance for doubtful accounts. The Company charges off uncollectible receivables at the time the Company determines the receivable is no longer collectible. The Company does not require collateral or other security to support financial instruments subject to credit risk. As of December 31, 2017 and 2016, the carrying value of loans approximated fair value due to the short-term nature and maturity of these instruments. |
Note 2 - Summary of Significa19
Note 2 - Summary of Significant Accounting Policies: Revenue Recognition (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Revenue Recognition | Revenue recognition The Company recognizes revenues in accordance with ASC No. 605-10-S99, (SEC Staff Accounting Bulletin (SAB) No. 104, Revenue Recognition), when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered to the customer, (iii) the fee is fixed or determinable, and (iv) collectability is reasonably assured. In situations with multiple deliverables, the Company recognizes revenue upon the delivery of the separate elements to the customer and when the Company receives customer acceptance or is otherwise released from its customer acceptance obligations. The Company allocates revenue consideration, based on the relative selling prices of the separate units of accounting contained within an arrangement containing multiple deliverables. Relative selling prices are determined using vendor specific objective evidence, if it exists; otherwise third-party evidence or the Companys best estimate of selling price is used for each deliverable. |
Note 2 - Summary of Significa20
Note 2 - Summary of Significant Accounting Policies: Sales and Marketing (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Sales and Marketing | Sales and Marketing The Company recognizes sales and marketing expense as it is incurred. For the years ended December 31, 2017 and 2016, the Company incurred zero and $15,730, respectively, of sales and marketing expense. |
Note 2 - Summary of Significa21
Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Income Taxes | Income Taxes A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. When required, the Company records a liability for unrecognized tax positions, defined as the aggregate tax effect of differences between positions taken on tax returns and the benefits recognized in the financial statements. Tax positions are measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. No tax benefits are recognized for positions that do not meet this threshold. The Company has no uncertain tax positions that require the Company to record a liability. The federal income tax returns of the Company are subject to examination by the IRS, generally for three years after they are filed. The Company recognizes penalties and interest associated with tax matters as part of the income tax provision and includes accrued interest and penalties with the related tax liability in the balance sheet. The Company had no accrued penalties and interest as of December 31, 2017 or 2016. |
Note 2 - Summary of Significa22
Note 2 - Summary of Significant Accounting Policies: Earnings (Loss) per Share (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Earnings (Loss) per Share | Earnings ( Loss) per Share The basic earnings (loss) per share is calculated by dividing our net income available to common shareholders by the number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing our net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. The Company has not issued any potentially dilutive debt or equity securities. |
Note 2 - Summary of Significa23
Note 2 - Summary of Significant Accounting Policies: Recently Issued Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Policies | |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements The Company will adopt Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) as of January 1, 2018. ASU 2014-09 will replace most existing revenue recognition guidance in US GAAP when it becomes effective. Management has evaluated the impact of the Companys adoption of ASU 2014-09 on its financial statements and does not expect the new standard to have a significant impact on its financial position, results of operations and related disclosures. To make this determination, management has identified the contract with its customer, identified the performance obligations, determined the transaction price, allocated the transaction price to the performance obligations in the contract, and recognized revenue when the Company satisfies the performance obligation. |
Note 1 - General Organization24
Note 1 - General Organization and Business (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Details | |
Entity Incorporation, State Country Name | Delaware |
Entity Incorporation, Date of Incorporation | Mar. 25, 2013 |
Note 3 - Income Taxes (Details)
Note 3 - Income Taxes (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Details | ||
Deferred Tax Assets, Net of Valuation Allowance | $ 28,753 | $ 21,122 |
Operating Loss Carryforwards | 84,568 | |
Income Tax Examination, Penalties Accrued | 0 | 0 |
Income Tax Examination, Interest Accrued | $ 0 | $ 0 |
Note 4 - Stockholders' Equity (
Note 4 - Stockholders' Equity (Details) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Details | ||
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Note 6 - Related Party Loans 27
Note 6 - Related Party Loans and Transactions (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Details | ||
Due to Related Parties, Current | $ 44,590 | $ 19,585 |
Note 7- Concentration Risks (De
Note 7- Concentration Risks (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Details | |
Concentration Risk, Customer | It is considered at least reasonably possible that any customer or subcontractor will be lost in the near term. |
Note 8 - Subsequent Events (Det
Note 8 - Subsequent Events (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Event 1 | |
Subsequent Event, Date | Feb. 16, 2018 |
Debt Instrument, Issuance Date | Feb. 16, 2018 |
Subsequent Event, Description | Company issued a Convertible Note to a shareholder |
Debt Instrument, Issuer | Company |
Debt Instrument, Face Amount | $ 500,000 |
Long-term Debt, Fair Value | $ 500,000 |
Debt Instrument, Collateral | unsecured |
Debt Instrument, Interest Rate, Stated Percentage | 3.00% |
Debt Instrument, Maturity Date | Feb. 16, 2030 |
Debt Instrument, Convertible, Terms of Conversion Feature | convertible into common stock of the Company at any time at the option of the holder subject to a 4.9% blocking provision |
Event 2 | |
Subsequent Event, Date | May 1, 2018 |
Subsequent Event, Description | Company’s Certificate of Incorporation was amended and restated |
Event 3 | |
Subsequent Event, Date | May 1, 2018 |
Subsequent Event, Description | Company’s Bylaws were amended and restated |
Event 4 | |
Subsequent Event, Date | May 3, 2018 |
Subsequent Event, Description | Company’s Board of Directors authorized and designated 75 shares of the Company’s Preferred Stock as Series A Preferred Stock |
Event 5 | |
Subsequent Event, Date | May 3, 2018 |
Subsequent Event, Description | Company’s Board of Directors authorized and designated 75 shares of the Company’s Preferred Stock as Series B Preferred Stock |