DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 13, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Entity Registrant Name | UAS Drone Corp. | |
Entity Central Index Key | 0001638911 | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Common Stock, Shares Outstanding | 1,172,544 | |
Entity Interactive Data Current | Yes | |
Entity Current Reporting Status | Yes | |
Entity Incorporation, State or Country Code | NV | |
Entity File Number | 000-55504 | |
Document Quarterly Report | true | |
Document Transition Report | false |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
CURRENT ASSETS: | ||
Cash | $ 35,319 | $ 61 |
Prepaid expenses | 26,250 | |
Total current assets | 35,319 | 26,311 |
Total assets | 35,319 | 26,311 |
CURRENT LIABILITIES: | ||
Accounts payable | 40,867 | 29,172 |
Accrued interest and expenses | 149,987 | 122,825 |
Note payable | 25,407 | |
Advances from stockholder | 199,611 | 146,357 |
Convertible notes payable | 450,015 | 450,015 |
Total current liabilities | 835,480 | 773,776 |
LONG TERM LIABILITIES: | ||
Promissory note payable | 35,000 | |
Total liabilities | 870,480 | 773,776 |
STOCKHOLDERS' DEFICIT: | ||
Common stock, $0.0001 par value: 100,000,000 shares authorized; 1,172,544 shares issued and outstanding at September 30, 2019 and December 31, 2018 | 117 | 117 |
Additional paid-in capital | 143,046 | 143,046 |
Accumulated deficit | (983,324) | (890,628) |
Total stockholders' deficit | (835,161) | (747,465) |
Total liabilities and stockholders' deficit | $ 35,319 | $ 26,311 |
CONDENSED BALANCE SHEETS (Una_2
CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock par value | $ 0.0001 | $ 0.0001 |
Common stock authorized | 100,000,000 | 100,000,000 |
Common stock issued | 1,172,544 | 1,172,544 |
Common stock outstanding | 1,172,544 | 1,172,544 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
OPERATING EXPENSES | ||||
General and administrative | $ 9,295 | $ 19,886 | $ 28,682 | $ 41,847 |
Professional fees | 9,422 | 14,040 | 36,308 | 39,417 |
Total operating expenses | 13,717 | 33,926 | 59,990 | 81,264 |
LOSS FROM OPERATIONS | (13,717) | (33,926) | (59,990) | (81,264) |
OTHER EXPENSE: | ||||
Interest expense | (9,177) | (9,013) | (27,706) | (27,368) |
Total other expense | (9,177) | (9,013) | (27,706) | (27,368) |
LOSS BEFORE INCOME TAXES | (27,894) | (42,939) | (92,696) | (108,632) |
INCOME TAXES | ||||
NET LOSS | $ (27,894) | $ (42,939) | $ (92,696) | $ (108,632) |
BASIC AND DILUTED LOSS PER COMMON SHARE | $ (0.02) | $ (0.04) | $ (0.07) | $ (0.09) |
BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 1,172,544 | 1,172,544 | 1,172,544 | 1,172,544 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Cash Flows from Operating Activities | |||||
Net loss | $ (27,894) | $ (42,939) | $ (92,696) | $ (108,632) | |
Change in assets and liabilities: | |||||
Prepaid expenses | 26,250 | 28,823 | |||
Accounts payable | 11,695 | (6,254) | |||
Accrued interest and expenses | 27,162 | 27,001 | |||
Net Cash Used in Operating Activities | (27,589) | (59,062) | |||
Cash Flows from Financing Activities: | |||||
Proceeds from promissory note payable | 35,000 | ||||
Payments on note payable | (25,407) | (19,804) | |||
Advances from stockholder | 53,254 | 78,761 | |||
Net Cash Provided by Financing Activities | 62,847 | 58,957 | |||
Net Increase in Cash | 35,258 | (105) | |||
Cash at Beginning of Period | 61 | 343 | $ 343 | ||
Cash at End of Period | $ 35,319 | $ 238 | 35,319 | 238 | $ 61 |
Cash paid during the periods for: | |||||
Interest | 544 | 367 | |||
Income taxes |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS | NOTE 1 DESCRIPTION OF BUSINESS UAS Drone Corp. (the Company) was incorporated under the laws of the State of Nevada on February 4, 2015. The Company began limited operations on February 11, 2015. Prior to the Companys formation, the operations were functioning under Unlimited Aerial Systems, LLP (UAS LLP). UAS LLP was formed under the laws of the State of Louisiana on August 22, 2014. Effective March 31, 2015, the Company completed a reverse merger with UAS LLP. The reverse merger was accounted for as a reverse capitalization. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting These condensed financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. The Companys financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 fiscal year end. Interim Financial Statements The accompanying unaudited condensed financial statements have been prepared in accordance with Generally Accepted Accounting Principles (GAAP) in the United States of America (U.S.) as promulgated by the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) and with the rules and regulations of the U.S Securities and Exchange Commission (SEC) for interim financial information. The unaudited condensed financial statements reflect all normal recurring adjustments, which, in the opinion of management, are considered necessary for a fair presentation of the results for the periods shown. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year or for any future period. The information included in these unaudited condensed financial statements should be read in conjunction with Managements Discussion and Analysis and Results of Operations contained in this report and the audited financial statements and accompanying notes for the period ended December 31, 2018, as filed with the SEC on March 29, 2019. Use of Estimates and Assumptions 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 an original maturity date of three months or less when purchased to be cash equivalents. At September 30, 2019 and December 31, 2018, The Company held no cash equivalents. At September 30, 2019 and December 31, 2018, the Company had no cash balance in excess of federally insured limits. Fair Value of Financial Instruments The carrying value of the Companys financial instruments, consisting of accounts payable, accrued expense, promissory note payable and convertible notes payable approximate their fair value due to the short-term maturity of such instruments. Unless otherwise noted, it is managements opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial statements. Revenue Recognition On January 1, 2018, we adopted the Financial Accounting Standards Board's (FASB) new revenue recognition standard using the modified retrospective method applied to those contracts not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under the new standard, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting. The Company is in the business of selling unmanned aerial systems (drones). The sale of drones is recognized upon shipment of the product which is the point in time the Companys performance obligation is complete. The Company had no revenues during the nine months ended September 30, 2019 and 2018. 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 We recognize interest and penalties related to unrecognized tax benefits on the interest expense line and other expense line, respectively, in the accompanying statement of operations. Accrued interest and penalties are included on the related liability lines in the unaudited condensed balance sheet. As of September 30, 2019, the Company does not believe it has any uncertain tax positions that would result in the Company having a liability to the taxing authorities. Loss per Share The basic loss per share is calculated by dividing our net loss by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing our net loss by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. As of September 30, 2019, 1,358,003 shares underlying the convertible debt and 25,000 shares underlying stock options have been excluded from the calculation of diluted loss per share because their impact was anti-dilutive. As of September 30, 2018, 1,277,533 shares underlying the convertible debt and 45,000 shares underlying stock options have been excluded from the calculation of diluted loss per share because their impact was anti-dilutive. Recently Issued Accounting Pronouncements Recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Companys present or future financial statements. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2019 | |
Going Concern | |
GOING CONCERN | NOTE 3 GOING CONCERN The accompanying condensed financial statements have been prepared assuming that the Company will continue as a going concern. The Company has net losses for the year ended December 31, 2018 and for the nine months ended September 30, 2019, and a working capital deficit. This condition raises substantial doubt about the Companys ability to continue as a going concern. The Companys continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Management is planning to raise additional funds through debt or equity offerings. There is no guarantee that the Company will be successful in these efforts. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 RELATED PARTY TRANSACTIONS During 2018, a stockholder of the Company advanced $98,349 to the Company. During the first nine months of 2019, a stockholder of the Company advanced $53,254 to the Company. The advances bear no interest or maturity. The balance due to the stockholder is $199,611 and $146,357, as of September 30, 2019 and December 31, 2018, respectively, and has been presented on the accompanying balance sheets as advances from stockholder. During the first nine months of 2019, the Company paid our Chief Executive Officer and Chairman of the Board $7,500 for his services on the Board. Further, our accounts payable include $32,500 and $25,000 due to this individual as of September 30, 2019 and December 31, 2018, respectively. |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | NOTE 5 NOTES PAYABLE On April 1, 2015, the Company closed a Subscription Agreement by which one institutional investor purchased an 8% Convertible Debenture having a total principal amount of $300,000, convertible into common shares of the Company at $0.33 per share and maturing April 1, 2017. The maturity date of the note was extended to December 31, 2019. The Company determined that the embedded conversion option did not require bifurcation and liability treatment because the underlying shares were not readily convertible to cash. The Company estimated the fair value of the underlying common stock and determined that the convertible note did not include a beneficial conversion feature. As of September 30, 2019, and December 31, 2018, the balance of the convertible note payable was $300,000. On April 1, 2016, the Company closed an Additional Advance Agreement by which one institutional investor purchased an 8% Convertible Debenture having a total principal amount of $100,010, convertible into common shares of the Company at $1.55 per share and maturing April 1, 2017. The maturity date of the note was extended to December 31, 2019. The Company determined that the embedded conversion option did not require bifurcation and liability treatment because the underlying shares were not readily convertible to cash. The Company estimated the fair value of the underlying common stock and determined that the convertible note did not include a beneficial conversion feature. As of September 30, 2019, and December 31, 2018, the balance of this convertible note payable was $100,010. On January 27, 2017, the Company closed a convertible debenture by which one institutional investor purchased an 8% Convertible Debenture having a total principal amount of $50,005, convertible into common shares of the Company at $1.55 per share and maturing August 1, 2018. The maturity date of the note was extended to December 31, 2019. The Company determined that the embedded conversion option did not require bifurcation and liability treatment because the underlying shares were not readily convertible to cash. The Company estimated the fair value of the underlying common stock and determined that the convertible note did not include a beneficial conversion feature. As of September 30, 2019, and December 31, 2018, the balance of this convertible note payable was $50,005. On October 1, 2018, the Company financed the premium for directors and officers insurance. The Company borrowed $30,610 at 5.68% interest, and the note will be repaid in 10 equal installments of $3,244. As of September 30, 2019, and December 31, 2018, the balance of the note payable was $0 and $25,407, respectively. On September 2, 2019, the Company executed a promissory note having a total principal amount of $35,000 bearing interest at 6% per annum and maturing September 2, 2021. The note is non-recourse and carries no personal guarantees. As of September 30, 2019, the balance of this note payable was $35,000. |
EQUITY
EQUITY | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
EQUITY | NOTE 6 EQUITY Common Stock The Company has authorized 100,000,000 shares of common stock, $0.0001 par value. As of September 30, 2019, and December 31, 2018, 1,172,544 shares were issued and outstanding. As of September 30, 2019, and December 31, 2018, the Company accrued liabilities of $3,300 for refunds that will be returned to prospective investors. Stock Options No options were granted during the nine months ended September 30, 2019. A summary of the status of options granted as of September 30, 2019, and changes during the period then ended are as follows: For the Nine Months Ended September 30, 2019 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2019 35,000 $ 1.50 1.25 years $ Granted - $ - - Expired 10,000 $ 1.50 - Outstanding at September 30, 2019 25,000 $ 1.50 0.75 years Exercisable at September 30, 2019 25,000 $ 1.50 0.75 years The Company had 35,000 vested options at the beginning of the period. At September 30, 2019, the Company had 25,000 vested options with a weighted average exercise price of $1.50. The total intrinsic value of options during the nine months ended September 30, 2019 was $0. Intrinsic value is measured using the fair market value at the date of exercise (for shares exercised) or at September 30, 2019 (for outstanding options), less the applicable exercise price. |
CONFLICTS OF INTEREST
CONFLICTS OF INTEREST | 9 Months Ended |
Sep. 30, 2019 | |
CONFLICTS OF INTEREST [Abstract] | |
CONFLICTS OF INTEREST | NOTE 7 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 person(s) may face a conflict in selecting between the Company and his other business interests. The Company has not formulated a policy for the resolution of such conflicts. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting | Basis of Accounting These condensed financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. The Companys financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 fiscal year end. |
Interim Financial Statements | Interim Financial Statements The accompanying unaudited condensed financial statements have been prepared in accordance with Generally Accepted Accounting Principles (GAAP) in the United States of America (U.S.) as promulgated by the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) and with the rules and regulations of the U.S Securities and Exchange Commission (SEC) for interim financial information. The unaudited condensed financial statements reflect all normal recurring adjustments, which, in the opinion of management, are considered necessary for a fair presentation of the results for the periods shown. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year or for any future period. The information included in these unaudited condensed financial statements should be read in conjunction with Managements Discussion and Analysis and Results of Operations contained in this report and the audited financial statements and accompanying notes for the period ended December 31, 2018, as filed with the SEC on March 29, 2019. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions 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 | Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity date of three months or less when purchased to be cash equivalents. At September 30, 2019 and December 31, 2018, The Company held no cash equivalents. At September 30, 2019 and December 31, 2018, the Company had no cash balance in excess of federally insured limits. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying value of the Companys financial instruments, consisting of accounts payable, accrued expense, promissory note payable and convertible notes payable approximate their fair value due to the short-term maturity of such instruments. Unless otherwise noted, it is managements opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial statements. |
Revenue Recognition | Revenue Recognition On January 1, 2018, we adopted the Financial Accounting Standards Board's (FASB) new revenue recognition standard using the modified retrospective method applied to those contracts not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under the new standard, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting. The Company is in the business of selling unmanned aerial systems (drones). The sale of drones is recognized upon shipment of the product which is the point in time the Companys performance obligation is complete. The Company had no revenues during the nine months ended September 30, 2019 and 2018. |
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 We recognize interest and penalties related to unrecognized tax benefits on the interest expense line and other expense line, respectively, in the accompanying statement of operations. Accrued interest and penalties are included on the related liability lines in the unaudited condensed balance sheet. As of September 30, 2019, the Company does not believe it has any uncertain tax positions that would result in the Company having a liability to the taxing authorities. |
Loss per Share | Loss per Share The basic loss per share is calculated by dividing our net loss by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing our net loss by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. As of September 30, 2019, 1,358,003 shares underlying the convertible debt and 25,000 shares underlying stock options have been excluded from the calculation of diluted loss per share because their impact was anti-dilutive. As of September 30, 2018, 1,277,533 shares underlying the convertible debt and 45,000 shares underlying stock options have been excluded from the calculation of diluted loss per share because their impact was anti-dilutive. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Companys present or future financial statements. |
EQUITY (Tables)
EQUITY (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Schedule of Stock Option Activity | A summary of the status of options granted as of September 30, 2019, and changes during the period then ended are as follows: For the Nine Months Ended September 30, 2019 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2019 35,000 $ 1.50 1.25 years $ Granted - $ - - Expired 10,000 $ 1.50 - Outstanding at September 30, 2019 25,000 $ 1.50 0.75 years Exercisable at September 30, 2019 25,000 $ 1.50 0.75 years |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - shares | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Convertible Debt Securities [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive securities | 1,358,003 | 1,277,533 |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive securities | 25,000 | 45,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Advances from stockholder | $ 53,254 | $ 78,761 | |
Majority Shareholder [Member] | |||
Advances from stockholder | 53,254 | $ 98,349 | |
Due to related parties | 199,611 | 146,357 | |
Accounts payable | 32,500 | $ 25,000 | |
Compensation paid | $ 7,500 |
NOTES PAYABLE (Details)
NOTES PAYABLE (Details) - USD ($) | Sep. 02, 2019 | Jan. 27, 2017 | Apr. 02, 2016 | Apr. 01, 2015 | Oct. 31, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | Oct. 02, 2018 |
Debt Instrument [Line Items] | ||||||||
Convertible note payable, current | $ 450,015 | $ 450,015 | ||||||
Note payable, current | 25,407 | |||||||
Convertible Debt [Member] | Note One [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 8.00% | |||||||
Face amount | $ 300,000 | |||||||
Conversion price | $ 0.33 | |||||||
Maturity date | Dec. 31, 2019 | |||||||
Convertible note payable, current | 300,000 | 300,000 | ||||||
Convertible Debt [Member] | Note Two [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 8.00% | |||||||
Face amount | $ 100,010 | |||||||
Conversion price | $ 1.55 | |||||||
Maturity date | Dec. 31, 2019 | |||||||
Convertible note payable, current | 100,010 | 100,010 | ||||||
Convertible Debt [Member] | Note Three [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 8.00% | |||||||
Face amount | $ 50,005 | |||||||
Conversion price | $ 1.55 | |||||||
Maturity date | Dec. 31, 2019 | |||||||
Convertible note payable, noncurrent | 50,005 | $ 50,005 | ||||||
Notes Payable, Other Payables [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.00% | 5.68% | ||||||
Face amount | $ 35,000 | $ 30,610 | ||||||
Maturity date | Sep. 2, 2021 | |||||||
Installment term | 10 months | |||||||
Installment amount | $ 3,244 | |||||||
Note payable, current | $ 35,000 |
EQUITY (Narrative) (Details)
EQUITY (Narrative) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Equity [Abstract] | ||
Common stock authorized | 100,000,000 | 100,000,000 |
Common stock par value | $ 0.0001 | $ 0.0001 |
Common stock issued | 1,172,544 | 1,172,544 |
Common stock outstanding | 1,172,544 | 1,172,544 |
Vested, number of shares | 25,000 | |
Vested, exercise price | $ 1.50 | |
Exercised, intrinsic value | $ 0 | |
Granted | ||
Outstanding | 25,000 | 35,000 |
Accrued liabilities for refunds to prospective investors | $ 3,300 | $ 3,300 |
EQUITY (Schedule of Stock Optio
EQUITY (Schedule of Stock Option Activity) (Details) | 9 Months Ended |
Sep. 30, 2019USD ($)$ / sharesshares | |
Shares | |
Outstanding at beginning of period | shares | 35,000 |
Granted | shares | |
Expired | shares | 10,000 |
Outstanding at end of period | shares | 25,000 |
Exercisable at end of period | shares | 25,000 |
Weighted Average Exercise Price | |
Outstanding at beginning of period | $ / shares | $ 1.50 |
Granted | $ / shares | |
Expired | $ / shares | 1.50 |
Outstanding at end of period | $ / shares | 1.50 |
Exercisable at end of period | $ / shares | $ 1.50 |
Weighted Average Remaining Contractual Term | |
Outstanding | 1 year 2 months 30 days |
Outstanding at end of period | 9 months |
Exercisable at end of period | 9 months |
Aggregate Intrinsic Value | |
Outstanding | $ | |
Exercisable at end of period | $ |