DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 10, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Entity Registrant Name | UAS Drone Corp. | |
Entity Central Index Key | 1,638,911 | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 | |
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 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
CURRENT ASSETS: | ||
Cash | $ 238 | $ 343 |
Inventories, net | 5,111 | 5,111 |
Prepaid expense | 28,824 | |
Total current assets | 5,349 | 34,278 |
Total assets | 5,349 | 34,278 |
CURRENT LIABILITIES: | ||
Accounts payable | 16,331 | 22,586 |
Accrued expenses | 113,825 | 86,824 |
Note payable | 19,804 | |
Note payable related party, net | 138,951 | 60,190 |
Convertible notes payable | 450,015 | 450,015 |
Total current liabilities | 719,122 | 639,419 |
Total liabilities | 719,122 | 639,419 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' DEFICIT: | ||
Common stock, $0.0001 par value: 100,000,000 shares authorized; 1,172,544 shares issued and outstanding at September 30, 2018, and December 31, 2017 | 117 | 117 |
Additional paid-in capital | 143,046 | 143,046 |
Accumulated deficit | (856,936) | (748,304) |
Total stockholders' deficit | (713,773) | (605,141) |
Total liabilities and stockholders' deficit | $ 5,349 | $ 34,278 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
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 CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement [Abstract] | ||||
Net revenue | $ 5,000 | |||
Cost of sales | 4,741 | |||
Gross profit | 259 | |||
OPERATING EXPENSES | ||||
General and administrative | 19,886 | 11,843 | 41,847 | 33,360 |
Professional fees | 14,040 | 15,571 | 39,417 | 52,331 |
Total operating expenses | 33,926 | 27,414 | 81,264 | 85,691 |
LOSS FROM OPERATIONS | (33,926) | (27,414) | (81,264) | (85,432) |
OTHER EXPENSE: | ||||
Interest expense | (9,013) | (9,356) | (27,368) | (28,382) |
Total other expense | (9,013) | (9,356) | (27,368) | (28,382) |
LOSS BEFORE INCOME TAXES | (42,939) | (36,770) | (108,632) | (113,814) |
INCOME TAXES | ||||
NET LOSS | $ (42,939) | $ (36,770) | $ (108,632) | $ (113,814) |
BASIC AND DILUTED LOSS PER COMMON SHARE | $ (0.04) | $ (0.03) | $ (0.09) | $ (0.10) |
BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 1,172,544 | 1,172,544 | 1,172,544 | 1,172,544 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Cash Flows from Operating Activities | |||||
Net loss | $ (42,939) | $ (36,770) | $ (108,632) | $ (113,814) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||
Issuance of stock options for board services | 14,138 | ||||
Imputed interest expense | 1,025 | ||||
Change in assets and liabilities: | |||||
Prepaid expenses | 28,823 | 14,250 | |||
Inventory | 4,741 | ||||
Accounts payable | (6,254) | 5,458 | |||
Accrued expense | 27,001 | 26,700 | |||
Net Cash Used in Operating Activities | (59,062) | (47,502) | |||
Cash Flows from Financing Activities: | |||||
Overdraft on bank account | (13) | ||||
Payments on insurance financing | (19,804) | (19,803) | |||
Proceeds from convertible note payable | 50,005 | ||||
Advances from stockholder | 78,761 | 32,773 | |||
Re-payment of advances from stockholder | (15,000) | ||||
Net Cash Provided by (Used In) Financing Activities | 58,957 | 47,962 | |||
Net Increase (Decrease) in Cash | (105) | 460 | |||
Cash at Beginning of Period | 343 | ||||
Cash at End of Period | $ 238 | $ 460 | 238 | 460 | $ 343 |
Cash paid during the periods for: | |||||
Interest | 367 | 655 | |||
Income taxes |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 9 Months Ended |
Sep. 30, 2018 | |
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 UASLLP. The reverse merger was accounted for as a reverse capitalization. Accordingly, the accompanying consolidated financial statements represent the historical assets, liabilities, and results of operations of UAS LLP. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting These condensed consolidated 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. Principles of consolidation The accompanying consolidated financial presented reflect the accounts of UAS Drone Corp. Interim Financial Statements The accompanying unaudited condensed consolidated 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 consolidated 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 consolidated financial statements should be read in conjunction with Managements Discussion and Analysis and Results of Operations contained in this report and the audited consolidated financial statements and accompanying notes for the period ended December 31, 2017, as filed with the SEC on March 28, 2018. 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. Significant estimates include evaluation of obsolete inventory, valuation of stock options granted and valuation for awards of common stock. 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, 2018, the Company had no cash balance in excess of federally insured limits. Inventory Inventory consist of the Companys finished goods and raw materials, and is stated as the lower of cost or market, using the FIFO method of inventory, net of reserves for excess, obsolete, damaged, or slow moving items. Inventory consists of the following: September 30, 2018 December 31, 2017 Raw materials $ 4,320 $ 4,320 Finished goods 10,452 10,452 Allowance for obsolescence (9,661) (9,661) Total inventory $ 5,111 $ 5,111 Fair Value of Financial Instruments The carrying value of the Companys financial instruments, consisting of accounts payable, notes 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 The Company is in the business of selling unmanned aerial systems (drones). The sale of drones are recognized upon shipment of the product which is the point in time the Companys performance obligation is complete. 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 consolidated statement of operations. Accrued interest and penalties are included on the related liability lines in the unaudited condensed consolidated balance sheet. 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, 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 In February 2016, the FASB issued changes to the accounting for leases that primarily affect presentation and disclosure requirements. The new standard will require the recognition of a right to use asset and underlying lease liability for operating leases with an initial life in excess of one year. This standard is effective for us beginning in the first quarter of 2019. We have not yet determined the impact of the new standard on our consolidated financial statements. 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, 2018 | |
Going Concern | |
GOING CONCERN | NOTE 3 GOING CONCERN The accompanying condensed consolidated 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, 2017 and for the nine months ended September 30, 2018 and has a working capital deficit. These conditions raise 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, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 RELATED PARTY TRANSACTIONS During 2016, a stockholder of the Company loaned $37,182 to the company. During 2017, a stockholder of the Company loaned $23,008 to the company. During the first nine months of 2018, a stockholder of the Company advanced $78,761 to the Company. The advances bear no interest or maturity. The balance due to the shareholder is $138,951, as of September 30, 2018. |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Sep. 30, 2018 | |
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 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, 2018, the balance of the convertible note payable was $300,000. On April 1, 2016, the Company closed a convertible debenture 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 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, 2018, the balance of these 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 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, 2018, the balance of this convertible note payable was $50,005. On September 23, 2017, the Company financed the premium for directors and officers insurance. The Company borrowed $28,098 at 5.54% interest, and the note will be repaid in 10 equal installments of $2,882 through July 2018. As of September 30, 2018, the balance of the note payable was $0. |
EQUITY
EQUITY | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018, 1,172,544 shares were issued and outstanding. As of September 30, 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, 2018. A summary of the status of options granted as of September 30, 2018, and changes during the period then ended are as follows: As of September 30, 2018 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at beginning of period 45,000 $ 1.50 1.96 years $ Outstanding at end of period 45,000 1.50 1.21 years Exercisable at end of period 45,000 1.50 1.21 years The Company had 45,000 vested options at the beginning of the period. At September 30, 2018, the Company had 45,000 vested options with a weighted average exercise price of $1.50. The total intrinsic value of options exercised during the nine months ended September 30, 2018 was $0. Intrinsic value is measured using the fair market value at the date of exercise (for shares exercised) or at September 30, 2018 (for outstanding options), less the applicable exercise price. |
CONFLICTS OF INTEREST
CONFLICTS OF INTEREST | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting | Basis of Accounting These condensed consolidated 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. |
Principles of consolidation | Principles of consolidation The accompanying consolidated financial presented reflect the accounts of UAS Drone Corp. |
Interim Financial Statements | Interim Financial Statements The accompanying unaudited condensed consolidated 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 consolidated 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 consolidated financial statements should be read in conjunction with Managements Discussion and Analysis and Results of Operations contained in this report and the audited consolidated financial statements and accompanying notes for the period ended December 31, 2017, as filed with the SEC on March 28, 2018. |
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. Significant estimates include evaluation of obsolete inventory, valuation of stock options granted and valuation for awards of common stock. |
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, 2018, the Company had no cash balance in excess of federally insured limits. |
Inventory | Inventory Inventory consist of the Companys finished goods and raw materials, and is stated as the lower of cost or market, using the FIFO method of inventory, net of reserves for excess, obsolete, damaged, or slow moving items. Inventory consists of the following: September 30, 2018 December 31, 2017 Raw materials $ 4,320 $ 4,320 Finished goods 10,452 10,452 Allowance for obsolescence (9,661) (9,661) Total inventory $ 5,111 $ 5,111 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying value of the Companys financial instruments, consisting of accounts payable, notes 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 The Company is in the business of selling unmanned aerial systems (drones). The sale of drones are recognized upon shipment of the product which is the point in time the Companys performance obligation is complete. |
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 consolidated statement of operations. Accrued interest and penalties are included on the related liability lines in the unaudited condensed consolidated balance sheet. |
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, 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 In February 2016, the FASB issued changes to the accounting for leases that primarily affect presentation and disclosure requirements. The new standard will require the recognition of a right to use asset and underlying lease liability for operating leases with an initial life in excess of one year. This standard is effective for us beginning in the first quarter of 2019. We have not yet determined the impact of the new standard on our consolidated financial statements. 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. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Inventory | Inventory consist of the Companys finished goods and raw materials, and is stated as the lower of cost or market, using the FIFO method of inventory, net of reserves for excess, obsolete, damaged, or slow moving items. Inventory consists of the following: September 30, 2018 December 31, 2017 Raw materials $ 4,320 $ 4,320 Finished goods 10,452 10,452 Allowance for obsolescence (9,661) (9,661) Total inventory $ 5,111 $ 5,111 |
EQUITY (Tables)
EQUITY (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Schedule of Stock Option Activity | No options were granted during the nine months ended September 30, 2018. A summary of the status of options granted as of September 30, 2018, and changes during the period then ended are as follows: As of September 30, 2018 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at beginning of period 45,000 $ 1.50 1.96 years $ Outstanding at end of period 45,000 1.50 1.21 years Exercisable at end of period 45,000 1.50 1.21 years |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2018shares | |
Convertible Debt Securities [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Anti-dilutive securities | 1,277,533 |
Employee Stock Option [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Anti-dilutive securities | 45,000 |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Inventory) (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Accounting Policies [Abstract] | ||
Raw materials | $ 4,320 | $ 4,320 |
Finished goods | 10,452 | 10,452 |
Allowance for obsolescence | (9,661) | (9,661) |
Total inventory | $ 5,111 | $ 5,111 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Advances from stockholder | $ 78,761 | $ 32,773 | ||
Majority Shareholder [Member] | ||||
Advances from stockholder | $ 23,008 | $ 37,182 | ||
Due to related parties | $ 138,951 |
NOTES PAYABLE (Details)
NOTES PAYABLE (Details) - USD ($) | 1 Months Ended | |||||
Sep. 23, 2017 | Jan. 27, 2017 | Apr. 02, 2016 | Apr. 01, 2015 | Sep. 30, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | ||||||
Convertible note payable, current | $ 450,015 | $ 450,015 | ||||
Note payable, current | $ 19,804 | |||||
Convertible Debt [Member] | Note One [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 8.00% | |||||
Face amount | $ 300,000 | |||||
Conversion price | $ 0.33 | |||||
Maturity date | Apr. 1, 2017 | |||||
Convertible note payable, current | 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 | Apr. 1, 2017 | |||||
Convertible note payable, current | 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 | Aug. 1, 2018 | |||||
Convertible note payable, noncurrent | 50,005 | |||||
Notes Payable, Other Payables [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 5.54% | |||||
Face amount | $ 28,098 | |||||
Installment term | 10 months | |||||
Installment amount | $ 2,882 | |||||
Note payable, current | $ 0 |
EQUITY (Narrative) (Details)
EQUITY (Narrative) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
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 | 45,000 | |
Vested, exercise price | $ 1.50 | |
Exercised, intrinsic value | $ 0 | |
Granted | ||
Outstanding | 45,000 | 45,000 |
Accrued liabilities for refunds to prospective investors | $ 3,300 |
EQUITY (Schedule of Stock Optio
EQUITY (Schedule of Stock Option Activity) (Details) | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Shares | |
Outstanding at beginning of period | shares | 45,000 |
Outstanding at end of period | shares | 45,000 |
Exercisable at end of period | shares | 45,000 |
Weighted Average Exercise Price | |
Outstanding at beginning of period | $ / 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 11 months 15 days |
Outstanding at end of period | 1 year 2 months 16 days |
Exercisable at end of period | 1 year 2 months 16 days |
Aggregate Intrinsic Value | |
Outstanding | $ | |
Exercisable at end of period | $ |