NOTE 3 - CONVERTIBLE NOTE | On July 1, 2014, the Company issued a USD $57,773 (CAD $75,000) convertible note for cash. The note bears an interest rate of 9.5% and matured on December 31, 2015. The note, plus accrued interest, is convertible by the holder, in part or whole, until the date of maturity into common stock of the Company at CAD one cent ($0.01) per share. The note is in default. The Company by resolution has elected to allow conversion of any and all the notes outstanding principal and interest until the note is fully paid. On October 20, 2014, the Company issued a USD $20,000 (CAD $22,454) convertible note for cash. The note bears an interest rate of 9.5% and matured on December 31, 2016. The note, plus accrued interest, is convertible by the holder, in part or whole, until the date of maturity into common stock of the Company at CAD one cent ($0.01) per share. On June 30, 2017, the principal and interest of the note was forgiven by its holders resulting in a gain of $24,625 consisting of principal of $20,000 (CAD $22,454) and interest of $4,625 (CAD $6,039). On December 31, 2014, the Company issued to a related party, who is an officer and director of the Company, a convertible note for USD $2,157 (CAD $2,800). The note bears an interest rate of 5% per annum and matured on December 31, 2015. The note holder may until the date of maturity convert the principal and accrued interest into common stock of the Company at the rate of $0.025 CAD per share. The note is in default. The Company by resolution has elected to allow conversion of any and all the notes outstanding principal and interest until the note is fully paid. As of June 30, 2017, the convertible debt outstanding was USD $57,773 plus accrued interest of USD $15,955 for a total liability of USD $73,728. The Company analyzed the conversion option under ASC for Derivatives and Hedging and Convertible Securities with Beneficial Conversion Features and concluded that none applied. |