Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 16, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | IASO BIOMED, INC. | |
Entity Central Index Key | 1,662,907 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 33,587,632 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,017 |
CONDENSED BALANCE SHEETS (UNAUD
CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash | $ 43,323 | $ 13,191 |
Prepaid expenses | 2,590 | 1,393 |
Total current assets | 45,913 | 14,584 |
Total Assets | 45,913 | 14,584 |
Current Liabilities: | ||
Accounts payable | 193,501 | 28,797 |
Note payable, related party | 25,000 | 25,000 |
Accrued salaries | 18,750 | |
Accrued interest, related party | 567 | 197 |
Total current liabilities | 237,818 | 53,994 |
Total Liabilities | 237,818 | 53,994 |
Stockholders' Deficit: | ||
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding | ||
Common stock, $0.0001 par value; 100,000,000 shares authorized, 33,562,632 and 33,427,632 shares issued and outstanding | 3,356 | 3,343 |
Additional paid-in capital | 835,936 | 644,762 |
Accumulated deficit | (1,031,197) | (687,515) |
Total stockholders' deficit | (191,905) | (39,410) |
Total Liabilities and Stockholders' Deficit | $ 45,913 | $ 14,584 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 |
Stockholders' Deficit: | ||
Preferred stock,shares authorized | 10,000,000 | 10,000,000 |
Preferred stock,shares par value | $ 0.0001 | $ 0.0001 |
Preferred stock, Issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock,shares authorized | 100,000,000 | 100,000,000 |
Common stock,shares par value | $ 0.0001 | $ 0.0001 |
Common stock,shares outstanding | 33,562,632 | 33,427,632 |
Common stock,shares issued | 33,562,632 | 33,427,632 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Condensed Statements Of Operations | ||
Revenues | ||
Operating Expenses: | ||
General and administrative | 203,731 | 73,226 |
Research and development | 139,581 | 295,263 |
Total operating expenses | 343,312 | 368,489 |
Loss from Operations | (343,312) | (368,489) |
Other Expenses: | ||
Interest expense, related party | 370 | |
Total other expenses | 370 | |
Net Loss | $ (343,682) | $ (368,489) |
Earnings per Common Share: | ||
Basic and diluted | $ (.01) | $ (.01) |
Weighted Average number of common Shares outstanding: | ||
Basic and diluted | 33,493,250 | 30,044,110 |
CONDENSED STATEMENT OF STOCKHOL
CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - 3 months ended Mar. 31, 2017 - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning Balance, Amount at Dec. 31, 2016 | 3,343 | 644,762 | (687,515) | (39,410) |
Beginning Balance, Shares at Dec. 31, 2016 | $ 33,427,632 | |||
Sale of common stock, Amount | $ 13 | $ 53,987 | $ 54,000 | |
Sale of common stock, Shares | 135,000 | |||
Share-based compensation | $ 132,187 | $ 132,187 | ||
Contributed services | 5,000 | 5,000 | ||
Net loss | $ (343,682) | $ (343,682) | ||
Beginning Balance, Amount at Mar. 31, 2017 | 3,356 | 835,936 | (1,031,197) | (191,905) |
Beginning Balance, Shares at Mar. 31, 2017 | $ 33,562,632 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (343,682) | $ (368,489) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Issuance of stock for license fees | 165,263 | |
Share-based compensation | 132,187 | |
Contributed services | 5,000 | |
Changes in assets and liabilities: | ||
Prepaid expenses | (1,197) | |
Accounts payable | 164,704 | 60,269 |
Accrued salaries | 18,750 | |
Accrued interest, related party | 370 | |
Net cash used in operating activities | (23,868) | (142,957) |
Cash Flows from Financing Activities: | ||
Proceeds from sale of common stock | 54,000 | 145,000 |
Net cash provided by financing activities | 54,000 | 145,000 |
Net Increase in Cash | 30,132 | 2,043 |
Cash, beginning of period | 13,191 | 113,313 |
Cash, end of period | $ 43,323 | $ 115,356 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
1. Nature of Operations and Summary of Significant Accounting Policies | Nature of Operations Basis of presentation In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary to provide a fair presentation of operating results for the interim periods presented have been made. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the year. Cash and Cash Equivalents Use of Estimates Research and Development Costs Share-based Compensation The Company uses the Black-Scholes option-pricing model to estimate the fair value of warrants and the market price of our common stock on the date of grant for the fair value. Our determination of fair value of share-based awards is affected by our stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, and certain other market variables such as the risk-free interest rate. Income Taxes Fair Value of Financial Instruments Earnings Per Share Recently Issued Accounting Pronouncements Leases In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force), |
Going Concern
Going Concern | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
2. Going Concern | At March 31, 2017 and December 31, 2016, the Company had cash of $45,323 and $13,191, respectively. It also had working capital deficit of $191,905 and $39,410, respectively and an accumulated deficit of $1,031,197 and $687,515, respectively. This raises substantial doubt about the Company's ability to continue as a going concern. Management is taking action to ensure the Company will continue as a going concern for at least one year beyond the date of the issuance of the Companys financial statements. Through March 31, 2017, the Company has sold $384,002 in common stock through the continuation of a private placement offering. Additionally, the Company received approval for its Form S-1 Registration Statement with the Securities and Exchange Commission, through which it will offer for sale additional shares of its common stock. These fundraising efforts may not be successful. While there can be no assurances, management believes that these actions will enable the Company to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Note Payable - Related Party
Note Payable - Related Party | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
3. Note Payable - Related Party | In October 2016, the Company signed an unsecured note payable to Richard Schell, the Companys Chief Executive officer, founder and stockholder for $25,000 bearing interest at 6% per annum, which remained outstanding at March 31, 2017 and December 31, 2016 with accrued interest payable of $567 and $197, respectively. |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
4. Stockholders' Equity | The Company has the authority to issue 110,000,000 shares of $.0001 par value stock, of which 100,000,000 shares are common stock and 10,000,000 shares are preferred stock. As of March 31, 2017 and December 31, 2016 there were 33,562,632 and 33,427,632 common stock shares issued and outstanding. For the three months ended March 31, 2017, the Company sold $54,000 in its private placement, issuing 135,000 shares of our common stock at $0.40 per share that included warrants to purchase up to 135,000 shares of our common stock exercisable at $0.75 per share for a period of three years from issuance. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
5. Commitments and Contingencies | Royalties · CAD $5,000 on the issuance of the first US patent · CAD $25,000 on the filing of an investigational new drug application or regulatory filing · CAD $50,000 on the initiation of the first Phase II clinical study · CAD $100,000 on the initiation of the first Phase III clinical study · CAD $300,000 on receipt of regulatory approval The Company must also pay milestone payments as follows for the out of body test to identify Alzheimers disease as follows: · CAD $5,000 on the issuance of the first US patent · CAD $50,000 on the filing of a 510(k) or PMA application · CAD $200,000 on receipt of regulatory approval In addition, the Company issued 5% of the total number of issued and outstanding shares in the Companys Series A financing to the same institution, or 1,652,632 shares in March 2016. This agreement, payable in Canadian dollars, exposes the Company to foreign exchange transaction gains and losses. In August 2016, the Company issued an additional 300,000 shares of the Companys common stock to McGill in lieu of the pre-existing anti-dilution provision. As McGill owns more than 5% of the Companys outstanding common stock, it is considered a related party. Research Agreement Employment Agreements In March 2017 the Company entered into an employment agreement with its CFO for a two-year term. The CFO will assume his responsibilities on a part time basis until requested by the Board of Directors to become a full-time executive. The base salary of $75,000 per annum is payable to the CFO only upon the Companys raising of an additional $750,000. When the CFO becomes a full-time executive, his salary will be increased to $125,000 per annum. The CFO also received warrants to purchase 500,000 shares of the Companys common stock at $0.40 per share for a period of five years after issuance. 250,000 warrants vested upon signing the agreement and the remaining 250,000 vest in March 2018. The CFO will also be eligible to earn discretionary annual performance bonuses upon meeting certain objectives as determined by the Board of Directors. The agreement provides for severance payments. The Company accrued $18,750 in salaries related to these agreements for the three months ended March 31, 2017. Contributed Services |
Share-based Compensation
Share-based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
6. Share-based Compensation | In March 2017, the Company issued 750,000 warrants to the Companys officers to purchase shares of our common stock at $0.40 per share. Estimated fair values of warrants granted have been determined using the Black-Scholes option pricing model with the following average assumptions: Risk-free interest rate 1.55 % Expected term 3 years Volatility 154 % Dividend yield Fair value $ 0.33 Expected term represents the period that the Companys stock-based awards are expected to be outstanding. The Companys historical stock warrant exercise experience does not provide a reasonable basis upon which to estimate expected term. As such, the simplified method was used to calculate the expected term. The Company calculated volatility based on the volatilities of comparable public companies. Total share based compensation was $132,187 and $0 for the three months ended March 31, 2017 and 2016, respectively. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
7. Subsequent Events | In April 2017, we issued 25,000 shares of our common stock in a private placement for $10,000, or $0.40 per share, that included the issuance of a warrant to purchase up to 25,000 shares of our common stock for a period of three years at an exercise price of $0.75 per share. Management has determined that there are no further events subsequent to the balance sheet date that should be disclosed in these financial statements. |
Nature of Operations and Summ14
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Nature Of Operations And Summary Of Significant Accounting Policies Policies | |
Nature of Operations | IASO BioMed, Inc. (IASO or the Company) is a developmental stage biotechnology company focusing on researching and developing drugs and diagnostic tests for products with a large commercial market potential as well as drugs that may qualify for orphan drug status. The Company is developing a unique, first in class drug that it believes will be a safer alternative to currently available testosterone replacement therapy by stimulating the bodys own production rather than using synthetic hormones and steroids. It is also developing a process, or method, which the Company believes will be the basis for developing an early stage blood or fluid test for Alzheimers disease. There is no assurance that these research and development activities will result in products that can be sold. The Company was incorporated as a C-corporation in the state of Colorado on March 11, 2015. It has its primary place of business in Denver, Colorado. |
Basis of presentation | The interim unaudited financial statements presented herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for the three month periods ended March 31, 2017 and 2016. The December 31, 2016 Condensed Balance Sheet included herein was derived from the audited year-end financial statements of the Company. Certain information and footnote disclosures normally included in unaudited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The interim unaudited financial statements should be read in conjunction with the Companys annual financial statements for the year ended December 31, 2016, notes and accounting policies thereto included in the Companys Registration Statement on Form S-1. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary to provide a fair presentation of operating results for the interim periods presented have been made. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the year. |
Cash and Cash Equivalents | For purposes of the statements of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. |
Use of Estimates | The preparation of the Companys financial statements, in conformity with generally accepted accounting principles, requires the Companys management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates. Significant items subject to such estimates include but are not limited to the valuation of share-based awards. |
Research and Development Costs | Research and development costs are charged to operations in the period incurred. For the three months ended March 31, 2017 and 2016, the Company incurred $139,581 and $295,263 in research and development costs, respectively. |
Share-based Compensation | Share-based payments are measured at their estimated fair value on the date of grant. Share-based awards to non-employees are re-measured at fair value each financial reporting date until performance is completed. Share-based compensation expense recognized during a period is based on the estimated number of awards that are ultimately expected to vest. For warrants that do not vest immediately but which contain only a service vesting feature, we recognize compensation cost on the unvested warrants on a straight-line basis over the remaining vesting period. The Company uses the Black-Scholes option-pricing model to estimate the fair value of warrants and the market price of our common stock on the date of grant for the fair value. Our determination of fair value of share-based awards is affected by our stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, and certain other market variables such as the risk-free interest rate. |
Income Taxes | The Company accounts for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. |
Fair Value of Financial Instruments | The carrying value of cash and cash equivalents and trade accounts payable are considered to approximate fair value due to the short-term nature of these instruments. |
Earnings Per Share | Basic loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding during the period. Diluted loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding, plus the impact of common shares, if dilutive, resulting from the exercise of outstanding stock options and warrants, plus the conversion of convertible notes. There were 8,825,000 and 8,000,000, respectively, shares excluded as they were anti-dilutive at March 31, 2017 and 2016. |
Recently Issued Accounting Pronouncements | In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force), |
Share-based Compensation (Table
Share-based Compensation (Table) | 3 Months Ended |
Mar. 31, 2017 | |
Share-based Compensation Table | |
Warrants to the Company's officers | Risk-free interest rate 1.55 % Expected term 3 years Volatility 154 % Dividend yield Fair value $ 0.33 |
Nature of Operations and Summ16
Nature of Operations and Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Nature Of Operations And Summary Of Significant Accounting Policies Policies | ||
State of Incorporation | Colorado | |
Date of incorporation | Mar. 11, 2015 | |
Research and development | $ 139,581 | $ 295,263 |
Antidilutive securities excluded from computation of earnings per share, amount | 8,825,000 | 8,000,000 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | |||
Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Cash | $ 43,323 | $ 13,191 | $ 115,356 | $ 113,313 |
Working capital deficit | (191,905) | (39,410) | ||
Accumulated deficit | (1,031,197) | $ (687,515) | ||
Private Placement [Member] | ||||
Sale of stock, value | $ 384,002 |
Note Payable Related Party (Det
Note Payable Related Party (Details Narrative) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Note payable, related party | $ 25,000 | $ 25,000 |
Accrued interest, related party | 567 | 197 |
Chief Executive Officer [Member] | ||
Note payable, related party | $ 25,000 | $ 25,000 |
Interest rate | 6.00% | 6.00% |
Accrued interest, related party | $ 567 | $ 197 |
Stockholders' Equity (Details N
Stockholders' Equity (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Shares authorized to issue | 110,000,000 | |
Stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares outstanding | 33,562,632 | 33,427,632 |
Common stock, shares issued | 33,562,632 | 33,427,632 |
Sale of common stock, Amount | $ 54,000 | |
Sale of common stock, Shares | ||
Private Placement [Member] | ||
Sale of common stock, Amount | $ 54,000 | |
Sale of common stock, Shares | 135,000 | |
Sale of common stock, per share price | $ 0.40 | |
Private Placement [Member] | Warrant [Member] | ||
Common stock shares reserved for issuance | 135,000 | |
Exercise price | $ 0.75 | |
Warrant expiration period | 3 years |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) | 1 Months Ended | 3 Months Ended | |||||||||||
Mar. 31, 2018shares | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Apr. 30, 2017USD ($) | Mar. 31, 2017USD ($)$ / sharesshares | May 31, 2016USD ($) | Jan. 31, 2016USD ($) | Jan. 31, 2016CAD | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($)shares | Dec. 31, 2016USD ($)shares | Aug. 31, 2016shares | Jan. 31, 2016CAD | |
Percentage of royalty | 3.00% | 3.00% | |||||||||||
Minimum royalty | CAD | CAD 5,000 | ||||||||||||
Additional shares issued for milestone payment | shares | (191,905) | (191,905) | (39,410) | ||||||||||
Research and development | $ 139,581 | $ 295,263 | |||||||||||
Accrued salaries | $ 18,750 | 18,750 | |||||||||||
Compensation expenses | 5,000 | ||||||||||||
Testosterone Replacement Therapy [Member] | Milestone One [Member] | |||||||||||||
Milestone payments | CAD | CAD 5,000 | ||||||||||||
Testosterone Replacement Therapy [Member] | Milestone Two [Member] | |||||||||||||
Milestone payments | CAD | 25,000 | ||||||||||||
Testosterone Replacement Therapy [Member] | Milestone Three [Member] | |||||||||||||
Milestone payments | CAD | 50,000 | ||||||||||||
Testosterone Replacement Therapy [Member] | Milestone Four [Member] | |||||||||||||
Milestone payments | CAD | 100,000 | ||||||||||||
Testosterone Replacement Therapy [Member] | Milestone Five [Member] | |||||||||||||
Milestone payments | CAD | 300,000 | ||||||||||||
Alzheimer Disease [Member] | Milestone One [Member] | |||||||||||||
Milestone payments | CAD | 5,000 | ||||||||||||
Alzheimer Disease [Member] | Milestone Two [Member] | |||||||||||||
Milestone payments | CAD | 50,000 | ||||||||||||
Alzheimer Disease [Member] | Milestone Three [Member] | |||||||||||||
Milestone payments | CAD | CAD 200,000 | ||||||||||||
Employment Agreements [Member] | CFO [Member] | |||||||||||||
Period of agreement | 2 years | ||||||||||||
Salary payable | $ 75,000 | ||||||||||||
Additional capital to be raised as target | 750,000 | ||||||||||||
Warrants issued, amount | $ 500,000 | 500,000 | |||||||||||
Price per share | $ / shares | $ 0.40 | ||||||||||||
Shares holding period | 5 years | ||||||||||||
Warrants vested | shares | 250,000 | 250,000 | |||||||||||
Increased salary | $ 125,000 | ||||||||||||
Employment Agreements [Member] | Chief Executive Officer [Member] | |||||||||||||
Period of agreement | 2 years | ||||||||||||
Salary payable | $ 150,000 | ||||||||||||
Additional capital to be raised as target | 750,000 | ||||||||||||
Warrants issued, amount | $ 250,000 | $ 250,000 | |||||||||||
Price per share | $ / shares | $ 0.40 | ||||||||||||
Shares holding period | 5 years | ||||||||||||
Warrants vested | shares | 125,000 | 125,000 | |||||||||||
Research Agreement [Member] | |||||||||||||
Amount payable under agreement | $ 130,000 | $ 130,000 | |||||||||||
Research and development | $ 55,000 | $ 55,000 | $ 20,000 | ||||||||||
Period of agreement | 1 year | 1 year | 1 year | ||||||||||
Research Agreement [Member] | Transaction Two [Member] | |||||||||||||
Research and development | $ 65,000 | ||||||||||||
Research Agreement [Member] | Transaction One [Member] | |||||||||||||
Research and development | $ 65,000 | ||||||||||||
McGill [Member] | |||||||||||||
Additional shares issued for milestone payment | shares | 300,000 | ||||||||||||
Ownership percentage | 5.00% | ||||||||||||
Series A financing [Member] | |||||||||||||
Percentage of issued and outstanding shares issued as milestone payment | 5.00% | ||||||||||||
Common stock shares issued for milestone payment | shares | 1,652,632 |
Share-based Compensation (Detai
Share-based Compensation (Details) | 3 Months Ended |
Mar. 31, 2017$ / shares | |
Share-based Compensation Details | |
Risk-free interest rate | 1.55% |
Expected term | 3 years |
Volatility | 154.00% |
Dividend yield | 0.00% |
Fair value | $ 0.33 |
Share-based Compensation (Det22
Share-based Compensation (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based compensation | $ 132,187 | |
Officer [Member] | ||
Warrants issued, amount | 750,000 | |
Warrant exercisable | $ 0.40 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended |
Apr. 30, 2017 | Mar. 31, 2017 | |
Sale of common stock, amount | $ 54,000 | |
Sale of common stock, shares | ||
Private Placement [Member] | ||
Sale of common stock, amount | $ 54,000 | |
Sale of common stock, shares | 135,000 | |
Subsequent Event [Member] | Private Placement [Member] | ||
Sale of common stock, amount | $ 10,000 | |
Sale of common stock, shares | 25,000 | |
Sale of common stock, per share | $ 0.40 | |
Warrants issued, amount | 25,000 | |
Warrant exercisable | $ 0.75 | |
Warrant expiration period | 3 years |