Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Jun. 30, 2017 | Apr. 16, 2017 | |
Document And Entity Information | |||
Entity Registrant Name | 2050 MOTORS, INC. | ||
Entity Central Index Key | 867,028 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity a Well-known Seasoned Issuer | No | ||
Entity a Voluntary Filer | No | ||
Entity's Reporting Status Current | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 1,455,763 | ||
Entity Common Stock, Shares Outstanding | 82,813,975 | ||
Trading Symbol | ETFM | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,017 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash | $ 499 | $ 11,766 |
Other prepaid expenses | 20,000 | |
Total current assets | 499 | 31,766 |
Property and equipment, net | 31,676 | 64,950 |
Other assets: | ||
Vehicle deposits | 24,405 | 24,405 |
Other deposits | 2,200 | 2,200 |
Deferred equity offering costs, net | 18,750 | 56,250 |
License | 50,000 | 50,000 |
Total other assets | 95,355 | 132,855 |
Total assets | 127,530 | 229,571 |
Liabilities | ||
Accounts payable | 42,817 | 38,629 |
Tax payable | 3,664 | |
Accrued interest on loans payable | 60,087 | 27,751 |
Accounts payable due to related parties | 7,750 | |
Loans payable due to related parties, net | 44,600 | 36,050 |
Loans payable due to non-related parties, net | 233,328 | 129,861 |
Revolving line of credit from related party | 63,354 | 101,400 |
Deferred rent | 244 | |
Derivative liability | 1,030,132 | 270,075 |
Total current liabilities | 1,477,982 | 611,760 |
Stockholders' deficit | ||
Common stock; no par value Authorized: 300,000,000 shares at December 31, 2017, and 100,000,000 shares at December 31, 2016 Issued and outstanding: 47,860,512 at December 31, 2017 and 37,148,599 at December 31, 2016 | 2,474,146 | 2,260,476 |
Preferred stock; no par value Authorized: 10,000,000 shares at December 31, 2017, and 0 shares at December 31, 2016 Issued and outstanding: 0 shares at December 31, 2017, and December 31, 2016 | ||
Additional paid-in-capital | 94,650 | 41,250 |
Accumulated deficit | (4,059,248) | (2,808,915) |
Common stock issuable | 140,000 | 125,000 |
Total stockholders' deficit | (1,350,452) | (382,189) |
Total liabilities and stockholders' deficit | $ 127,530 | $ 229,571 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | ||
Common stock, shares authorized | 300,000,000 | 100,000,000 |
Common stock, shares issued | 47,860,512 | 37,148,599 |
Common stock, shares outstanding | 47,860,512 | 37,148,599 |
Preferred stock, par value | ||
Preferred stock, shares authorized | 10,000,000 | 0 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement [Abstract] | ||
Operating revenue | ||
Operating expenses: | ||
Research and development costs | 28,400 | 66,126 |
General & administrative | 270,574 | 709,530 |
Total operating expenses | 298,974 | 775,656 |
Net loss from operations | (298,974) | (775,656) |
Interest expense | (908,501) | (230,962) |
Gain on sale of equiment | 1,126 | |
Derivative liability gain/(loss) | (42,058) | (27,625) |
Loss before income taxes | (1,249,533) | (1,033,117) |
Provision for income taxes | (800) | |
Net loss | $ (1,250,333) | $ (1,033,117) |
Net loss per share, basic and diluted | $ (0.03) | $ (0.03) |
Weighted average common equivalent shares outstanding, basic and diluted | 39,431,012 | 34,687,943 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit - USD ($) | Common Stock [Member] | Common Stock Issuable [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Dec. 31, 2015 | $ 1,993,996 | $ (1,775,798) | $ 218,198 | ||
Balance, shares at Dec. 31, 2015 | 33,748,599 | ||||
Equity offering costs | (18,750) | (18,750) | |||
Capitalization of unpaid officer salary | 44,000 | 44,000 | |||
Warrants and options attached to convertible debt | 16,000 | 16,000 | |||
Shares issued for cash | $ 10,000 | 10,000 | |||
Shares issued for cash, shares | 200,000 | ||||
Shares issued for services | $ 256,480 | 125,000 | 381,480 | ||
Shares issued for services, shares | 3,200,000 | ||||
Net loss | (1,033,117) | (1,033,117) | |||
Balance at Dec. 31, 2016 | $ 2,260,476 | 125,000 | 41,250 | (2,808,915) | (382,189) |
Balance, shares at Dec. 31, 2016 | 37,148,599 | ||||
Equity offering costs | (37,500) | (37,500) | |||
Capitalization of unpaid officer salary | 48,000 | 48,000 | |||
Warrants and options attached to convertible debt | 42,900 | 42,900 | |||
Shares issued for cash | $ 2,250 | 15,000 | 17,250 | ||
Shares issued for cash, shares | 36,885 | ||||
Shares issued for services | $ 10,840 | 10,840 | |||
Shares issued for services, shares | 177,694 | ||||
Shares issued for reduction of debt | $ 200,580 | 200,580 | |||
Shares issued for reduction of debt, shares | 10,497,334 | ||||
Net loss | (1,250,333) | (1,250,333) | |||
Balance at Dec. 31, 2017 | $ 2,474,146 | $ 140,000 | $ 94,650 | $ (4,059,248) | $ (1,350,452) |
Balance, shares at Dec. 31, 2017 | 47,860,512 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows provided by (used for) operating activities: | ||
Net loss | $ (1,250,333) | $ (1,033,117) |
Adjustments to reconcile net loss to net cash provided by (used for) operating activities: | ||
Depreciation | 33,274 | 39,258 |
Amortization of prepaid expenses from stock for services transactions | 156,480 | |
Amortization of debt discount | 302,567 | 18,750 |
Amortization of deferred finance costs | 58,239 | 2,141 |
Capitalization of unpaid officer salaries | 48,000 | 44,000 |
Issuance of common stock for services | 10,840 | 225,000 |
Gain on sale of property | (1,126) | |
Reduction of interest expense from debt | (55,500) | |
Derivative liability adjustment | 42,058 | 27,625 |
Interest expense from initial derivative liability | 447,343 | 242,810 |
Changes in assets and liabilities: Increase (decrease) in assets and liabilities: | ||
Prepaid rent | ||
Other prepaid expenses | 20,000 | 5,000 |
Deposits | 5,200 | |
Accounts payable | 4,188 | 35,114 |
Income tax payable | 3,664 | |
Accrued interest on loans payable | 46,756 | 22,771 |
Related party payable | 7,750 | |
Deferred expenses | (244) | (734) |
Net cash used for operating activities | (233,648) | (258,938) |
Cash flows provided (used) for investing activities: | ||
Sale of property and equipment | 2,300 | |
Net cash provided by (used for) investing activities | 2,300 | |
Cash flows provided by (used for) by financing activities: | ||
Proceeds from related party advances | 28,200 | |
Payments made on related party advances | (36,050) | (30,450) |
Proceeds from non-related loans | 241,181 | 105,470 |
Payments made on non-related loans | (28,200) | |
Proceeds from revolving line of credit from related party | 102,550 | |
Payments made on revolving line of credit from related party | (1,150) | |
Proceeds from issuance of common stock | 17,250 | 10,000 |
Net cash provided by (used for) financing activities | 222,381 | 186,420 |
Net (decrease) in cash | (11,267) | (70,218) |
Cash, beginning of year | 11,766 | 81,984 |
Cash, end of period | 499 | 11,766 |
Supplemental disclosure of cash flow information - | ||
Deferred equity issuance cost from non-cash transaction, net | 56,250 | |
Amortization of deferred finance cost from non-cash transaction | 37,500 | |
Common stock issued for debt | 160,771 | |
Debt discount from convertible loan | 42,900 | 16,000 |
Interest paid | $ 20,305 |
Basis of Presentation and Organ
Basis of Presentation and Organization | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Organization | Note 1 – BASIS OF PRESENTATION AND ORGANIZATION 2050 Motors, Inc., (the “Company”) was incorporated on October 9, 2012, in the state of Nevada to import, market, and sell electric cars manufactured in China. On October 25, 2012, 2050 Motors, Inc., entered into an agreement with Jiangsu Aoxin New Energy Automobile Co., Ltd., (“Aoxin”), located in Jiangsu, China, for the distribution in the United States of a new electric automobile, known as the e-Go EV. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”). Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include collectability of accounts receivable, accounts payable, sales returns and recoverability of long-term assets. Cash Cash consists of deposits in one large national bank. At December 31, 2017 and 2016, the Company had $499 and $11,766 in cash in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. Property, Plant & Equipment Property, plant and equipment is stated at cost and depreciated using the straight-line method over the estimated useful life of the asset; lease hold improvements are depreciated over the shorter of estimated useful life of the asset or over the lease term. The estimated useful lives of our property and equipment are generally as follows: tools and equipment, five years; vehicles and parts, three years; leasehold improvements, lesser of lease term or life of related asset; and furniture and fixtures, seven years. As of December 31, 2017 and 2016, Property, plant and equipment consisted of the following: 2017 2016 Furniture and furnishings $ 14,303 $ 14,303 Leasehold improvements 18,184 18,184 Vehicle and parts 76,045 76,045 Tools and equipment 22,494 22,494 Total 131,026 131,026 Less: Accumulated depreciation (99,350 ) (66,076 ) Property, plant and equipment, net $ 31,676 $ 64,950 Depreciation expense was $33,274 and $39,258 for the years ended December 31, 2017 and 2016, respectively. Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. We have recorded the conversion option on few notes as a derivative liability as a result of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. We recognize derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of December 31, 2017: Total Level 1 Level 2 Level 3 Liabilities Derivative liability $ 1,030,132 $ - $ - $ 1,030,132 Total liabilities measured at fair value $ 1,030,132 $ - $ - $ 1,030,132 Assets and liabilities measured at fair value are as follows as of December 31, 2016: Total Level 1 Level 2 Level 3 Liabilities Derivative liability $ 270,075 $ - $ - $ 270,075 Total liabilities measured at fair value $ 270,075 $ - $ - $ 270,075 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of December 31, 2015 $ - Fair value of derivative liabilities issued 242,450 Loss on change in derivative liabilities 27,625 Balance as of December 31, 2016 270,075 Fair value of derivative liabilities issued 719,999 Gain on change in derivative liabilities 42,058 Balance as of December 31, 2017 $ 1,032,132 Earnings Per Share (EPS) Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the years ended December 31, 2017 and 2016, the Company incurred losses. Therefore, the effect of any common stock equivalents is anti- dilutive during those periods. The following table sets for the computation of basic and diluted earnings per share for years ended December 31, 2017 and 2016: 2017 2016 Basic and diluted Net loss $ (1,250,333 ) $ (1,033,117 ) Weighted average number of shares in computing basic and diluted net loss Basic 39,431,012 34,687,943 Diluted 39,431,012 34,687,943 Net loss per share basic and diluted Basic and diluted $ (0.03 ) $ (0.03 ) Revenue Recognition Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable. Revenue generally is recognized net of allowances for returns and any taxes collected from customers and subsequently remitted to governmental authorities. Cost of Sales Cost of sales consists primarily of inventory costs, as well as warehousing costs (including the cost of warehouse labor), shipping, importation duties and charges, third party royalties, and product sampling. Advertising and Marketing Costs Costs incurred for producing and communicating advertising and marketing are expensed when incurred and included in selling general and administrative expenses. Advertising and marketing expense amounted to $0 and $172,841 for the years ended December 31, 2017 and 2016, respectively Operating Overhead Expense Operating overhead expense consists primarily of payroll and benefit related costs, rent, depreciation and amortization, professional services, and meetings and travel. Income Taxes The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of income. At December 31, 2017 and 2016, the Company had not taken any significant uncertain tax positions on its tax returns for period ended December 31, 2017 and prior years or in computing its tax provision for 2017. Management has considered its tax positions and believes that all of the positions taken by the Company in its Federal and State tax returns are more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. Concentration of Credit Risk Cash is mainly maintained by one highly qualified institution in the United States. At various times, such amounts are in excess of federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash. . Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations. In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606) “ASU 2014-09”. ASU 2014-09 was subsequently amended by ASU No. 2016-10 and 2016-12. As amended, Topic 606 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, the amendments create a new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers . Reclassification Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flow. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3 – GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate the continuation of the Company as a going concern. The Company reported accumulated deficit of $4,059,248 as of December 31, 2017. The Company also incurred net losses of $1,250,333 and $1,033,117 for the years ended December 31, 2017 and 2016, respectively and had negative working capital for the years ended December 31, 2017 and 2016. To date, these losses and deficiencies have been financed principally through the issuance of common stock, loans from related parties and from third parties. In view of the matters described, there is substantial doubt as to the Company’s ability to continue as a going concern without a significant infusion of capital. We anticipate that we will have to raise additional capital to fund operations over the next 12 months. To the extent that we are required to raise additional funds to acquire properties, and to cover costs of operations, we intend to do so through additional offerings of debt or equity securities. There are no commitments or arrangements for other offerings in place, no guaranties that any such financings would be forthcoming, or as to the terms of any such financings. Any future financing will involve substantial dilution to existing investors. |
Vehicle Deposits
Vehicle Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Deposits [Abstract] | |
Vehicle Deposits | Note 4 – VEHICLE DEPOSITS Vehicle deposit of $24,405, as of December 31, 2017 and 2016, represents one prototype test model for delivery into the United States when the specifications are completed for an advanced crash test known in the Automobile Safety Industry as the “overlap crash test”. The estimated date set for this test is mid-2018. |
License Agreement
License Agreement | 12 Months Ended |
Dec. 31, 2017 | |
License Agreement | |
License Agreement | Note 5 – LICENSE AGREEMENT In 2012 and 2013, the Company made a total payment of $50,000 and signed an exclusive license agreement with Aoxin to import, assemble and manufacture the advanced carbon fiber electric vehicle, the eGo EV model. The cost of this license agreement has been recognized as a longterm asset and is evaluated, by management, for impairment losses at each reporting period. As of December 31, 2017, no such impairment losses have been identified by the management. |
Accounts Payable Due to Related
Accounts Payable Due to Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Payables and Accruals [Abstract] | |
Accounts Payable Due to Related Parties | Note 6 – ACCOUNTS PAYABLE DUE TO RELATED PARTIES A related party of the Company paid $7,750 cash on behalf of the Company during the second quarter of 2016. The cash advance is non interest bearing and was due on August 1, 2016. The Company defaulted on the payment and the payable accrued penalties on it. During the year ended December 31, 2017, the Company issued 140,808 shares of common stock, having a fair market value of the shares was $8,589, for payment of the principal and penalties. |
Loans Payable Due to Related Pa
Loans Payable Due to Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Loans Payable Due to Related Parties | Note 7 – LOANS PAYABLE DUE TO RELATED PARTIES During the year ended December 31, 2014, the Company raised two loans for a total amount of $100,000 due to a shareholder. The loans bear 12% interest and matured on February 28, 2015 and March 30, 2015, respectively. Subsequently, the loans were combined and the maturity date was extended to April 1, 2018. The outstanding balance as of December 31, 2017 and 2016 was $0 and $36,050, respectively. During the years ended December 31 2017 and 2016, the Company recorded interest expense of $979 and $7,381, respectively, on the note On July 1, 2017, the Company entered into an unsecured loan payable agreement with a related party for $14,100, due on September 15, 2017. The Company granted the related party an option to purchase up to 1,000,000 shares of common stock at an exercise price of $0.015 per share. The Company valued the options using the black scholes options pricing model. The fair market value of the options was $26,746. The value was restricted to the face value of the note and hence, $14,100 was recorded as a debt discount which is being amortized over the term of the loan. The Company also agreed to pay $1,500 as an interest on the loan. On September 27, 2017, the Company entered into a note amendment, whereby, the term of the note was extended until November 1, 2017, in exchange for an additional $1,500 finance fee and $1,500 late fee. The Company recorded the same as interest expense in the accompanying financials. During the year ended December 31, 2017, the Company amortized the debt discount of $14,100. During the year ended December 31, 2017, the Company recorded $1,500 of interest expense for amortization of and another $1,500 of interest expense for the excess derivative. As of December 31, 2017, the loan is in default and the outstanding balance of the loan, as of December 31, 2017 was $17,100. The Company accrued a penalty of $1,750 plus $100 per day of default, aggregating to $7,750 in the accompanying financial statements. On September 27, 2017, the Company entered into another unsecured loan payable agreement with the same related party for $17,500, due on November 1, 2017. The loan holder charged $1,750 as funding fee and $1,650 as processing fee for the loan, which were recorded as debt discount, with net loan proceeds of $14,100. The Company also granted the related party an option to purchase up to 1,000,000 shares of common stock at an exercise price of $0.015 per share. The Company valued the options using the black scholes options pricing model. The fair market value of the options was $22,945. The value was restricted to the net proceeds of the note and hence, $14,100 was recorded as a debt discount which is being amortized over the term of the loan. During the year ended December 31, 2017, the Company amortized the debt discount of $14,100 and the finance fee of $3,400. As of December 31, 2017, the loan is in default and the outstanding balance of the loan, as of December 31, 2017 was $17,500. The Company accrued a penalty of $1,750 plus $100 per day of default, aggregating to $7,750 in the accompanying financial statements. The Company determined the fair value of the options using the Black – Scholes model. The variables used for the Black –Scholes model are as listed below: ● Volatility: 253% - 286% ● Risk free rate of return: 1.24% - 1.53% ● Expected term: 1 -3 years The Company received an unsecured $10,000 loan during the third quarter of 2016 from a related party. The loan bears 12% interest and on March 16, 2017, the original maturity date, an extension was granted to April 1, 2018. The outstanding balance on the loan as of December 31, 2017 was $10,000. The Company accrued an interest of $1,201 and $348, on the loan during the years ended December 31, 2017 and 2016. |
Convertible Note Payables
Convertible Note Payables | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Convertible Note Payables | Note 8 – CONVERTIBLE NOTE PAYABLES (A) On November 1, 2016, the Company entered into four unsecured convertible promissory notes with three unrelated parties. The principle amount is $10,000 for each note and carries interest of 12% annum. All four notes mature on April 30, 2017. The notes may be converted into common stock of the Company at any time by the election of the lender at a conversion price of $0.075 per share. The Company recorded a debt discount of $16,000 for the difference in the conversion price and the fair market value on the date of agreement. The debt discount is being amortized over the term of the notes. On April 30, 2017, the Company extended the term of the four notes by 90 days until July 29, 2017. The remaining debt discount is being amortized over the extended term. During the years ended December 31, 2017 and 2016, respectively, Company amortized $10,668 and $5,332, respectively, of the debt discount. During the years ended December 31, 2017 and 2016, respectively. Company accrued an interest of $4,800 and $787 on the four notes. As of December 31, 2017 and 2016, the outstanding balance on the note amounted to $40,000. (B) On October 26, 2016, the Company entered into an unsecured convertible note agreement, with an accredited investor, for $65,000. The note bears interest at 12% per annum and is due and payable on July 26, 2017. The note has financing cost of $9,500 associated with it. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The Company may prepay the note in full together with any accrued and unpaid interest plus any applicable pre-payment premium set forth in the note. Until the Ninetieth (90th) day after the Issuance Date the Company may pay the principal at a cash redemption premium of 135%, in addition to outstanding interest, which can be paid without the Holder’s consent; from the 90th day to the One Hundred and Twentieth (120th) day after the Issuance Date, the Company may pay the principal at a cash redemption premium of 140%, in addition to outstanding interest, which can be paid without the Holder’s consent; from the 12th day to the One Hundred and Eightieth (180th) day after the Issuance Date, the Company may pay the principal at a cash redemption premium of 145%, in addition to outstanding interest, which can be paid without the Holder’s consent. After the 180th day up to the Maturity Date this Note shall have a cash redemption premium of 150% of the then outstanding principal amount of the Note, plus accrued interest and Default Interest if any, which may only be paid by the Company upon Holder’s prior written consent The note is convertible into fully paid and non-assessable shares of common stock, after 180 days from the date of the note, at a conversion price which is lower of: (i) a 50% discount to the lowest trading price during the previous twenty trading days prior to the date of a conversion notice; or (ii) a 50% discount to the lowest trading price during the previous twenty trading days before the date that this note was executed. Since the conversion price of the note is variable, the conversion option has been treated as a derivative liability. The derivative liability on the note was calculated, using the Binomial model, to be $242,450, of which $55,500 was recorded as a debt discount and the balance $186,950 was recorded as an interest expense, at inception. On April 25, 2017, the Company entered into a note amendment whereby, the maturity of the note was extended to January 26, 2018 and the principal was increased by $7,800 to $72,800. The Company wired $33,118 to the note holder as loan extension fee. The additional finance fee of $7,800 is being amortized over the remaining term of the note. During the year ended December 31, 2017, the note holder converted $23,600 of the note pursuant to two separate conversion notices. The Company issued 2,911,195 shares of common stock to effect the conversions and recorded a loss on debt settlement of $5,786 for the shares issued in excess of the agreed conversion price. The Company amortized a debt discount of $37,880 and $13,418, respectively, during the years ended December 31, 2017 and 2016. The Company amortized the finance fee of $12,320 and $2,111, respectively, during the years ended December 31, 2017 and 2016. Interest expense of $8,110 and $1,410 was accrued on the convertible note respectively, during the years ended December 31, 2017 and 2016. During the year ended December 31, 2016, the Company recorded $186,950 of additional interest for the derivative liability expense. Additional interest of $33,118 was paid in cash on April 25, 2017, pursuant to the amended note terms. The derivative liability was recalculated on December 31, 2017 as $174,932 and the difference in the value was recorded as a change in derivative liability in the income statement. As of December 31, 2017 and 2016, the outstanding balance on the convertible note payable amounted to $49,200 and $65,000, respectively. Subsequent to the year ended December 31, 2017, the note holder converted more balance for 12,681,921 shares of the Company’s common stock. The variables used for the Binomial model are as listed below: ● Volatility: 286% ● Risk free rate of return: 1.20% ● Expected term: 118 days (C) On January 6, 2017, the Company entered into an unsecured convertible note agreement with a third party for $78,750. The Company received $70,000, net of the financing fee of $8,750. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The note is due on October 6, 2017 and carries interest at the rate of 12% per annum. The note is convertible at the lower of ; (i) a 50% discount to the lowest trading price during the previous twenty five trading days prior to the date of a conversion notice; or (ii) a 50% discount to the lowest trading price during the previous twenty five trading days before the date that this note was executed. Since the conversion price of the note is variable, the conversion option has been treated as a derivative liability. The derivative liability on the note was calculated, using the Binomial model, to be $137,118, of which $70,000 was recorded as a debt discount and the balance $67,118 was recorded as an interest expense, at inception. On June 30, 2017, the Company entered into a note amendment agreement to increase the principal balance of the note by $14,100 to $92,850. The Company paid the $14,100 to the holder on July 6, 2017, to delay conversion option until September 5, 2017, pursuant to the amended terms. On September 27, 2017, the Company entered into another note amendment agreement to increase the principal balance of the note by $21,100 to $99,850. The Company wired $14,100 on September 27, 2017, to reduce the principal balance of the note to $85,750. The note holder effected conversion of accrued interest of $7,006 into 1,946,000 shares of common stock. The Company recorded a loss on debt settlement of $34,837 for the shares issued in excess of the agreed conversion price. The Company amortized a debt discount of $69,466 during the year ended December 31, 2017. The Company amortized the finance fee of $38,705 during the year ended December 31, 2017. Interest expense of $11,571 was accrued on the convertible note during the year ended December 31, 2017. The Company recorded $67,118 as interest expense for the excess derivative liability on the convertible note during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the loan was $85,750. The loan was due on October 6, 2017. The Company was in default of the loan and default interest was being accrued at the rate of 22%. Subsequent to the year ended December 31, 2017, the note holder converted the balance for 9,836,100 shares of the Company’s common stock. The variables used for the Binomial model are as listed below: January 6, 2017 December 31, 2017 ● Volatility: 206% Volatility: 286% ● Risk free rate of return: 1.03% Risk free rate of return: 1.28% ● Expected term: 98 days Expected term: 37 days (D) On April 21, 2017, the Company entered into an unsecured convertible note agreement with a third party for $58,000. The Company received $55,000, net of the financing fee of $3,000. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The note is due on January 30, 2018 and carries at the rate of 12% per annum. The note is convertible at any time starting after the first 180 days of the note and ending on the later of the maturity date or the date of payment. The note is convertible at 61% of the Market Price. Market price shall mean the average of the lowest two trading prices during the last fifteen trading day period completed on the latest trading day prior to the conversion. During the year ended December31, 2017, the note holder converted $35,000 of the note for 3,106,274 shares of common stock. The Company recorded a gain on settlement of $1,528, for the difference in the conversion price. The derivative liability was recalculated on December 31, 2017 as $21,366 and the difference in the value was recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $52,677 during the year ended December 31, 2017. The Company amortized the finance fee of $2,809, during the year ended December 31, 2017. Interest expense of $4,354, was accrued on the convertible note during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the loan was $23,000. The loan was due on January 30, 2018. Subsequent to the year ended December 31, 2017, the note holder converted balance of the note with accrued interest into shares of the Company’s common stock and the loan was paid off. The variables used for the Binomial model are as listed below: April 21, 2017 December 31, 2017 ● Volatility: 160% Volatility : 253% ● Risk free rate of return: 1.2% Risk free rate of return : 1.28% ● Expected term: 284 days Expected term: 30 days (E) On May 31, 2017, the Company entered into an unsecured convertible note agreement with a third party for $28,000. The Company received $25,000, net of the financing fee of $3,000. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The note is due on March 15, 2018 and carries at the rate of 12% per annum. The note is convertible at any time starting after the first 180 days of the note and ending on the later of the maturity date or the date of payment. The note is convertible at 61% of the Market Price. Market price shall mean the average of the lowest two trading prices during the last fifteen trading day period completed on the latest trading day prior to the conversion. The derivative liability was recalculated on December 31, 2017 as $21,421 and the difference in the value was recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $18,576 during the year ended December 31, 2017. The Company amortized the finance fee of $2,229 during the year ended December 31, 2017. Interest expense of $1,970 was accrued on the convertible note during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the loan was $28,000. The loan was due on March 15, 2018. Subsequent to the year ended December 31, 2017, the note holder converted the note and interest accrued on the same into for shares of the Company’s common stock and the note was fully paid off before the maturity date. The variables used for the Binomial model are as listed below: May 31, 2017 December 31, 2017 ● Volatility: 189% Volatility: 253% ● Risk free rate of return: 1.17% Risk free rate of return: 1.39% ● Expected term: 288 days Expected term: 74 days (F) On July 25, 2017, the Company entered into an unsecured convertible note agreement with a third party for $28,000. The Company received $25,000, net of the financing fee of $3,000. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The note is due on April 30, 2018 and carries interest at the rate of 12% per annum. The note is convertible at any time starting after the first 180 days of the note and ending on the later of the maturity date or the date of payment. The note is convertible at 51% of the Market Price. Market price shall mean the average of the lowest two trading prices during the last fifteen trading day period completed on the latest trading day prior to the conversion. Since the conversion price of the note is variable, the conversion option has been treated as a derivative liability. The derivative liability on the note was calculated, using the Binomial model, to be $48,934, of which $25,000 was recorded as a debt discount and the balance $23,934 was recorded as an interest expense, at inception. The derivative liability was recalculated on December 31, 2017 as $42,700 and the difference in the value was recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $14,247 during the year ended December 31, 2017. The Company amortized the finance fee of $1,710 during the year ended December 31, 2017. Interest expense of $1,464 was accrued on the convertible note during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the loan was $28,000. The loan is due on April 30, 2018. The variables used for the Binomial model are as listed below: July 25, 2017 December 31, 2017 ● Volatility: 189% Volatility: 253% ● Risk free rate of return: 1.24% Risk free rate of return: 1.39% ● Expected term: 279 days Expected term: 120 days (G) On November 13, 2017, the Company entered into an unsecured convertible note agreement with a third party for $19,181. The Company received $18,681, net of the financing fee of $500. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The note is due on August 30, 2018 and carries interest at the rate of 12% per annum. The note is convertible at any time starting after the first 180 days of the note and ending on the later of the maturity date or the date of payment. The note is convertible at 51% of the Market Price. Market price shall mean the average of the lowest two trading prices during the last fifteen trading day period completed on the latest trading day prior to the conversion. Since the conversion price of the note is variable, the conversion option has been treated as a derivative liability. The derivative liability on the note was calculated, using the Binomial model, to be $41,653, of which $18,681 was recorded as a debt discount and the balance $22,954 was recorded as an interest expense, at inception. The derivative liability was recalculated on December 31, 2017 as $26,7445 and the difference in the value was recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $3,092 during the year ended December 31, 2017. The Company amortized the finance fee of $83 during the year ended December 31, 2017. Interest expense of $303 was accrued on the convertible note during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the loan was $19,181. The loan is due on August 30, 2018. The variables used for the Binomial model are as listed below: November 13, 2017 December 31, 2017 ● Volatility: 309% Volatility: 253% ● Risk free rate of return: 1.55% Risk free rate of return: 1.76% ● Expected term: 290 days Expected term: 242 days (H) On September 15, 2017, the Company entered into an unsecured convertible note agreement with a third party for $25,000. The Company received $22,500, net of the financing fee of $2,500. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The note is due on September 15, 2018 and carries interest at the rate of 10% per annum. The Company also granted a warrant with the convertible note to buy 250,000 shares of common stock of the Company at an exercise price of $0.10 per share. The Company valued the warrants using the black scholes option pricing model at $14,700, which was recorded as a debt discount. The note is convertible at any time starting after the first 180 days of the note and ending on the later of the maturity date or the date of payment. The note is convertible at 61% of the Market Price. Market price shall mean the average of the lowest two trading prices during the last fifteen trading day period completed on the latest trading day prior to the conversion. Since the conversion price of the note is variable, the conversion option has been treated as a derivative liability. The derivative liability on the note was calculated, using the Binomial model, to be $113,636, of which $7,800 was recorded as a debt discount and the balance $105,836 was recorded as an interest expense, at inception. The derivative liability was recalculated on December 31, 2017 as $59,596 and the difference in the value was recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $6,596 during the year ended December 31, 2017. The Company amortized the finance fee of $733 during the year ended December 31, 2017. Interest expense of $733 was accrued on the convertible note during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the loan was $25,000. The loan is due on September 15, 2018. The variables used for the Binomial model are as listed below: September 15, 2017 December 31, 2017 ● Volatility: 286% Volatility: 253% ● Risk free rate of return: 1.17% Risk free rate of return: 1.76% ● Expected term: 137 days Expected term: 258 days (I) On November 14, 2017, the Company entered into an unsecured convertible note agreement with a third party for $27,000. The Company received $25,000, net of the financing fee of $2,000. This deferred financing fee has been deducted directly from the carrying value of the note, pursuant to ASU 2015-03. The deferred financing fee is being amortized over the term of the convertible note payable. The note is due on November 14, 2018 and carries interest at the rate of 12% per annum. The note is convertible at 50% of the Market Price. Market price shall mean the lowest trading price during the last fifteen trading day period prior to the conversion. Since the conversion price of the note is variable, the conversion option has been treated as a derivative liability. The derivative liability on the note was calculated, using the Binomial model, to be $65,378, of which $25,000 was recorded as a debt discount and the balance $40,378 was recorded as an interest expense, at inception. The derivative liability was recalculated on December 31, 2017 as $73,800 and the difference in the value was recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $3,219 during the year ended December 31, 2017. The Company amortized the finance fee of $258 during the year ended December 31, 2017. Interest expense of $417 was accrued on the convertible note during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the loan was $27,000. The loan is due on November 14, 2018. The variables used for the Binomial model are as listed below: November 14, 2017 December 31, 2017 ● Volatility: 253% Volatility: 253% ● Risk free rate of return: 1.55% Risk free rate of return: 1.76% ● Expected term: 365 days Expected term: 318 days |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9 – COMMITMENTS AND CONTINGENCIES Effective March 1, 2014, the Company signed a lease for four thousand square feet of industrial space in North Las Vegas. The term of the lease is for three years and cost $2,200 per month. The lease expired on April 30, 2017 and the Company is now on a month to month lease Effective September 16, 2015, the Company renewed its residential lease agreement in California for its traveling consultants. Effective September 2015, the Company extended the lease agreement for one more year with a new monthly amount of $2,300. As of June 30, 2016, the Company discontinued its lease, which was assumed by a consultant of the Company. Rent expense amounted to $26,156 and $47,717 for the years ended December 31, 2017 and 2016, respectively. According to the license agreement signed between the Company and Aoxin, in order to maintain exclusive rights for the United States (US), the Company is required to purchase and sell certain amount of eGo EV model vehicles per year for a certain period of time starting from the completion of the requirements established by the United States Department of Transportation’s protocols for the eGo EV model. The table below demonstrates the required amount of vehicles that the company needs to sell per year. First year 2,000 Second year 6,000 Third year 12,000 Fourth year 24,000 Fifth year 48,000 92,000 As part of the license agreement, the Company is committed to pay expenses related to any required airbag testing procedures. The cost of these airbags could be as little as $500,000 or as much as $2 million. The Company may from time to time, become a party to various legal proceedings, arising in the ordinary course of business. The Company investigates these claims as they arise. Management does not believe, based on current knowledge, that there were any such claims outstanding as of December 31, 2017. |
Revolving Line of Credit- Relat
Revolving Line of Credit- Related Party | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Revolving Line of Credit- Related Party | Note 10 – REVOLVING LINE OF CREDIT- RELATED PARTY On February 12, 2016, the Company signed a twelve months revolving line of credit agreement with a related party. The line amount is $100,000 and carries interest at 12% per annum. In January 2017, the Company signed an amendment to extend the due date of the loan to June 30, 2018 for a conversion option for the restricted common stock of the Company. The note carries interest at the rate of 12% per annum and is convertible at any time starting from January 18, 2017 and ending on the later of the maturity date or the date of payment. The note is convertible at 50% of the Average Market Price for the 15 previous trading days before the conversion notice date. The derivative liability on the note was calculated, using the Binomial model, to be $227,760, of which $101,400 was recorded as a debt discount and the balance $126,360 was recorded as an interest expense, at inception. During the year ended December 31, 2017, the related party assigned $30,000 of the loan to an unrelated third party on the same terms. The third party opted to convert $5,000 of the principal balance into 892,857 shares of common stock of the Company. The Company recorded a loss on settlement of debt of $714, on the excess shares issued to the note holder. The derivative liability was recalculated on December 31, 2017 as $62,222 on the loan assigned and the proportionate difference in the value was recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $21,430 during the year ended December 31, 2017. Interest expense of $3,600 was accrued on the assigned convertible loan during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the assigned loan was $25,000. The loan is due on June 30, 2018. The derivative liability was recalculated on December 31, 2017 as $177,707 on the balance related party loan and the difference in the value recorded as a change in derivative liability in the income statement. The Company amortized a debt discount of $46,924 during the year ended December 31, 2017. Interest expense of $8,568 was accrued on the remaining related party convertible loan during the year ended December 31, 2017. As of December 31, 2017, the balance outstanding on the related party loan was $71,400. The loan is due on June 30, 2018. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 11 – INCOME TAXES The Company did not file its federal tax returns for fiscal years from 2012 through 2017. Management believes that it should not have any material impact on the Company’s financials because the Company did not have any tax liabilities due to net loss incurred during these years. Based on the available information and other factors, management believes it is more likely than not that the net deferred tax assets at December 31, 2017 and 2016 will not be fully realizable. Accordingly, management has recorded a full valuation allowance against its net deferred tax assets at December 31, 2017 and 2016. At December 31, 2017 and 2016, the Company had federal net operating loss carry-forwards of approximately $4,000,000 and $2,800,000, respectively, expiring beginning in 2032. Deferred tax assets consist of the following components: 2017 2016 Net loss carryforward $ 1,100,000 $ 780,000 Valuation allowance (1,100,000 ) (780,000 ) Total deferred tax assets $ - $ - |
Promissory Note and Equity Purc
Promissory Note and Equity Purchase Agreement | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Promissory Note and Equity Purchase Agreement | Note 12 – PROMISSORY NOTE AND EQUITY PURCHASE AGREEMENT On June 24, 2016, the Company issued a $75,000 nonrefundable Promissory Note to an investor as a pre condition to an Equity Purchase Agreement. The promissory note bears 10% interest per annum with a one year maturity date. The note is recognized as a deferred finance charge and is being amortized over the contract period. The Equity Purchase Agreement allows the Company to issue Put Notices and the right to sell up to $10,000,000 of its no par value common stock at 88% of its market value. The market value is based on a ten day valuation period immediately preceding the Put Notice. The right to sell the shares becomes an obligation to sell as of the closing date after the Put Notice has been issued to the investor. The investor at no time can own more than 9.99% of the Company’s common stock outstanding as of the closing date. During the year ended December 31, 2017, the Company issued 1,500,000 shares (See Note 13) to the note holder to convert the outstanding principal balance of $75,000 and accrued interest of $6,574. As of December 31, 2017, the outstanding balance of the note was $0. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Equity | Note 13 – EQUITY During the year ended December 31, 2016, the Company agreed to issue 3,200,000 shares for services at a price between $0.157 to $0.075, for a total of $256,480. Additionally, the Company agreed to issue 825,000 shares of common stock for marketing services at a per share price of $0.1497 for a total consideration of $125,000. As of December 31, 2017, these shares are yet to be issued and have been recorded as common stock issuable. The Company also agreed to issue 200,000 shares of its common stock a $0.05 per share for $10,000 cash, during the year ended December 31, 2016. The shares were issued during the year ended December 31, 2017. During the year ended December 31, 2016, the Company recorded $44,000 as capital contribution for the fair market value of services provided by the officer of the Company. During the year ended December 31, 2016, the Company recorded $16,000 as additional paid in capital for the beneficial conversion feature on four convertible notes of $10,000 each. (See Note 8) On June 24, 2016, the Company issued a $75,000 nonrefundable Promissory Note to an investor as a pre condition to an Equity Purchase Agreement. The promissory note bears 10% interest per annum with a one year maturity date. This note resulted in a $75,000 deferred equity issuance cost and is being amortized over the contract period. During the year ended December 31, 2017 and 2016, respectively, the Company recorded $37,500 and $18,750 in amortization of the deferred equity issuance costs for the Equity Purchase Agreement (See Note 13). During the year ended December 31, 2017, the Company issued 1,500,000 shares for the conversion of the promissory note along with interest accrued on the same of $6,574. The shares issued were recorded at the fair market value of $0.054 on the date of conversion notice. During the year ended December 31, 2017, the Company increased the authorized share capital for common stock of the Company from 100 million to 300 million. During the year ended December 31, 2017, the Company increased the authorized share capital for preferred stock of the Company from 0 to 10 million. During the year ended December 31, 2017, the Company issued 36,885 shares of company’s common stock, to a third party for $2,250 cash. During the year ended December 31, 2017, the Company issued 140,808 shares of company’s common stock, for payment of a related party accounts payable totaling $8,589, including penalties. During the year ended December 31, 2017, the Company issued 177,694 shares of company’s common stock in exchange for consulting and advisory services, valued at $10,840. During the year ended December 31, 2017, the Company issued 2,911,195 shares of company’s common stock, to partially convert $23,600 of a convertible note payable. During the year ended December 31, 2017, the Company issued 1,946,200 shares of common stock to effect conversion of accrued interest on a convertible note of $7,006. During the year ended December 31, 2017, one of the note holder converted $35,000 of the note for 3,106,274 shares of common stock. During the year ended December 31, 2017, the Company issued 892,857 shares of company’s common stock, to partially convert $5,000 of a convertible note payable. During the year ended December 31, 2017, the Company agreed to issue 1,000,000 shares of common stock to a third party for $15,000 cash. The shares were not issued as of December 31, 2017 and have been recorded as shares to be issued in the accompanying financial statements. During the year ended December 31, 2017, the Company capitalized $48,000 as capital contribution by prior president of the Company, for the accrued salary due to the prior president. During the year ended December 31, 2017, the Company entered into an unsecured loan payable agreement with a related party for $14,100, due on September 15, 2017. The Company granted the related party an option to purchase up to 1,000,000 shares of common stock at an exercise price of $0.015 per share. The Company valued the options using the black scholes options pricing model. The fair market value of the options was $26,746. The value was restricted to the face value of the note and hence, $14,100 was recorded as a debt discount and credited as additional paid in capital in the accompanying financials (See Note 7). During the year ended December 31, 2017, the Company entered into another unsecured loan payable agreement with the same related party for $17,500, with net loan proceeds of $14,100. The Company also granted the related party an option to purchase up to 1,000,000 shares of common stock at an exercise price of $0.015 per share. The Company valued the options using the black scholes options pricing model. The fair market value of the options was $22,945. The value was restricted to the net proceeds of the note and hence, $14,100 was recorded as a debt discount and credited as additional paid in capital in the accompanying financials (See Note 7). During the year ended December 31, 2017, the Company entered into an unsecured convertible note agreement with a third party for $25,000. The Company received $22,500, net of the financing fee of $2,500. The Company also granted a warrant with the convertible note to buy 250,000 shares of common stock of the Company at an exercise price of $0.10 per share. The Company valued the warrants using the black scholes option pricing model at $14,700, which was recorded as a debt discount and credited as additional paid in capital in the accompanying financials (See Note 8). |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 14 – SUBSEQUENT EVENTS Subsequent to the year ended December 31, 2017, the Company issued 45,625,214 shares of Common stock to effect conversion of various note payables. Subsequent to the year ended December 31, 2017, the Company increased the authorized share capital of the Company from 300 million to 1 billion shares of common stock. Subsequent to the year ended December 31, 2017, the Company issued 3 million shares of preferred stock to the prior president of the Company. |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”). |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include collectability of accounts receivable, accounts payable, sales returns and recoverability of long-term assets. |
Cash | Cash Cash consists of deposits in one large national bank. At December 31, 2017 and 2016, the Company had $499 and $11,766 in cash in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. |
Property, Plant & Equipment | Property, Plant & Equipment Property, plant and equipment is stated at cost and depreciated using the straight-line method over the estimated useful life of the asset; lease hold improvements are depreciated over the shorter of estimated useful life of the asset or over the lease term. The estimated useful lives of our property and equipment are generally as follows: tools and equipment, five years; vehicles and parts, three years; leasehold improvements, lesser of lease term or life of related asset; and furniture and fixtures, seven years. As of December 31, 2017 and 2016, Property, plant and equipment consisted of the following: 2017 2016 Furniture and furnishings $ 14,303 $ 14,303 Leasehold improvements 18,184 18,184 Vehicle and parts 76,045 76,045 Tools and equipment 22,494 22,494 Total 131,026 131,026 Less: Accumulated depreciation (99,350 ) (66,076 ) Property, plant and equipment, net $ 31,676 $ 64,950 Depreciation expense was $33,274 and $39,258 for the years ended December 31, 2017 and 2016, respectively. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. We have recorded the conversion option on few notes as a derivative liability as a result of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. We recognize derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of December 31, 2017: Total Level 1 Level 2 Level 3 Liabilities Derivative liability $ 1,030,132 $ - $ - $ 1,030,132 Total liabilities measured at fair value $ 1,030,132 $ - $ - $ 1,030,132 Assets and liabilities measured at fair value are as follows as of December 31, 2016: Total Level 1 Level 2 Level 3 Liabilities Derivative liability $ 270,075 $ - $ - $ 270,075 Total liabilities measured at fair value $ 270,075 $ - $ - $ 270,075 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of December 31, 2015 $ - Fair value of derivative liabilities issued 242,450 Loss on change in derivative liabilities 27,625 Balance as of December 31, 2016 270,075 Fair value of derivative liabilities issued 719,999 Gain on change in derivative liabilities 42,058 Balance as of December 31, 2017 $ 1,032,132 |
Earnings Per Share (EPS) | Earnings Per Share (EPS) Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the years ended December 31, 2017 and 2016, the Company incurred losses. Therefore, the effect of any common stock equivalents is anti- dilutive during those periods. The following table sets for the computation of basic and diluted earnings per share for years ended December 31, 2017 and 2016: 2017 2016 Basic and diluted Net loss $ (1,250,333 ) $ (1,033,117 ) Weighted average number of shares in computing basic and diluted net loss Basic 39,431,012 34,687,943 Diluted 39,431,012 34,687,943 Net loss per share basic and diluted Basic and diluted $ (0.03 ) $ (0.03 ) |
Revenue Recognition | Revenue Recognition Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable. Revenue generally is recognized net of allowances for returns and any taxes collected from customers and subsequently remitted to governmental authorities. |
Cost of Sales | Cost of Sales Cost of sales consists primarily of inventory costs, as well as warehousing costs (including the cost of warehouse labor), shipping, importation duties and charges, third party royalties, and product sampling. |
Advertising and Marketing Costs | Advertising and Marketing Costs Costs incurred for producing and communicating advertising and marketing are expensed when incurred and included in selling general and administrative expenses. Advertising and marketing expense amounted to $0 and $172,841 for the years ended December 31, 2017 and 2016, respectively |
Operating Overhead Expense | Operating Overhead Expense Operating overhead expense consists primarily of payroll and benefit related costs, rent, depreciation and amortization, professional services, and meetings and travel. |
Income Taxes | Income Taxes The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of income. At December 31, 2017 and 2016, the Company had not taken any significant uncertain tax positions on its tax returns for period ended December 31, 2017 and prior years or in computing its tax provision for 2017. Management has considered its tax positions and believes that all of the positions taken by the Company in its Federal and State tax returns are more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. |
Concentration of Credit Risk | Concentration of Credit Risk Cash is mainly maintained by one highly qualified institution in the United States. At various times, such amounts are in excess of federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash. |
Risks and Uncertainties | Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations. In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606) “ASU 2014-09”. ASU 2014-09 was subsequently amended by ASU No. 2016-10 and 2016-12. As amended, Topic 606 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, the amendments create a new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers . |
Reclassification | Reclassification Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flow. |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Schedule of Property and Equipment | As of December 31, 2017 and 2016, Property, plant and equipment consisted of the following: 2017 2016 Furniture and furnishings $ 14,303 $ 14,303 Leasehold improvements 18,184 18,184 Vehicle and parts 76,045 76,045 Tools and equipment 22,494 22,494 Total 131,026 131,026 Less: Accumulated depreciation (99,350 ) (66,076 ) Property, plant and equipment, net $ 31,676 $ 64,950 |
Schedule of Fair Value of Assets and Liabilities | Assets and liabilities measured at fair value are as follows as of December 31, 2017: Total Level 1 Level 2 Level 3 Liabilities Derivative liability $ 1,030,132 $ - $ - $ 1,030,132 Total liabilities measured at fair value $ 1,030,132 $ - $ - $ 1,030,132 Assets and liabilities measured at fair value are as follows as of December 31, 2016: Total Level 1 Level 2 Level 3 Liabilities Derivative liability $ 270,075 $ - $ - $ 270,075 Total liabilities measured at fair value $ 270,075 $ - $ - $ 270,075 |
Schedule of Derivative Liability | The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of December 31, 2015 $ - Fair value of derivative liabilities issued 242,450 Loss on change in derivative liabilities 27,625 Balance as of December 31, 2016 270,075 Fair value of derivative liabilities issued 719,999 Gain on change in derivative liabilities 42,058 Balance as of December 31, 2017 $ 1,032,132 |
Schedule of Basic and Diluted Earnings Per Share | The following table sets for the computation of basic and diluted earnings per share for years ended December 31, 2017 and 2016: 2017 2016 Basic and diluted Net loss $ (1,250,333 ) $ (1,033,117 ) Weighted average number of shares in computing basic and diluted net loss Basic 39,431,012 34,687,943 Diluted 39,431,012 34,687,943 Net loss per share basic and diluted Basic and diluted $ (0.03 ) $ (0.03 ) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Amount of Vehicles Per Year | The table below demonstrates the required amount of vehicles that the company needs to sell per year. First year 2,000 Second year 6,000 Third year 12,000 Fourth year 24,000 Fifth year 48,000 92,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets | Deferred tax assets consist of the following components: 2017 2016 Net loss carryforward $ 1,100,000 $ 780,000 Valuation allowance (1,100,000 ) (780,000 ) Total deferred tax assets $ - $ - |
Summary of Significant Accoun25
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash | $ 499 | $ 11,766 |
Depreciation expense | 33,274 | 39,258 |
Advertising and marketing expense | $ 0 | $ 172,841 |
Tools and Equipment [Member] | ||
Property, estimated useful lives | 5 years | |
Vehicles and Parts [Member] | ||
Property, estimated useful lives | 3 years | |
Leasehold Improvements [Member] | ||
Property, plant and equipment, estimated useful lives | Lessor of lease term or life of related asset | |
Furniture and Fixtures [Member] | ||
Property, estimated useful lives | 7 years |
Summary of Significant Accoun26
Summary of Significant Accounting Policies - Schedule of Property and Equipment (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Total | $ 131,026 | $ 131,026 |
Less: Accumulated depreciation | (99,350) | (66,076) |
Property, plant and equipment, net | 31,676 | 64,950 |
Furniture and Furnishings [Member] | ||
Total | 14,303 | 14,303 |
Leasehold Improvements [Member] | ||
Total | 18,184 | 18,184 |
Vehicle and Parts [Member] | ||
Total | 76,045 | 76,045 |
Tools and Equipment [Member] | ||
Total | $ 22,494 | $ 22,494 |
Summary of Significant Accoun27
Summary of Significant Accounting Policies - Schedule of Fair Value of Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative liability | $ 1,030,132 | $ 270,075 | |
Total liabilities measured at fair value | 1,030,132 | 270,075 | |
Level 1 [Member] | |||
Derivative liability | |||
Total liabilities measured at fair value | |||
Level 2 [Member] | |||
Derivative liability | |||
Total liabilities measured at fair value | |||
Level 3 [Member] | |||
Derivative liability | 1,030,132 | 270,075 | |
Total liabilities measured at fair value | $ 1,030,132 | $ 270,075 |
Summary of Significant Accoun28
Summary of Significant Accounting Policies - Schedule of Derivative Liability (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | ||
Balance, beginning | $ 270,075 | |
Fair value of derivative liabilities issued | 719,999 | 242,450 |
Gain Loss on change in derivative liabilities | 42,058 | 27,625 |
Balance, ending | $ 1,030,132 | $ 270,075 |
Summary of Significant Accoun29
Summary of Significant Accounting Policies - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | ||
Net loss | $ (1,250,333) | $ (1,033,117) |
Weighted average number of shares in computing basic and diluted net loss, basic | 39,431,012 | 34,687,943 |
Weighted average number of shares in computing basic and diluted net loss, diluted | 39,431,012 | 34,687,943 |
Net loss per share basic and diluted | $ (0.03) | $ (0.03) |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 4,059,248 | $ 2,808,915 |
Net loss | 1,250,333 | 1,033,117 |
Working capital |
Vehicle Deposits (Details Narra
Vehicle Deposits (Details Narrative) | 12 Months Ended | |
Dec. 31, 2017USD ($)Integer | Dec. 31, 2016USD ($) | |
Deposits [Abstract] | ||
Vehicle deposits | $ | $ 24,405 | $ 24,405 |
Number of prototype test models | Integer | 1 |
License Agreement (Details Narr
License Agreement (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
License Agreement | ||
Total payment incurred for license agreement | $ 50,000 | $ 50,000 |
Accounts Payable Due to Relat33
Accounts Payable Due to Related Parties (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Payables and Accruals [Abstract] | |||
Accounts payable due to related parties | $ 7,750 | $ 7,750 | |
Due date | Aug. 1, 2016 | ||
Number of common stock issued, shares | 140,808 | ||
Number of common stock issued | $ 8,589 |
Loans Payable Due to Related 34
Loans Payable Due to Related Parties (Details Narrative) - USD ($) | Sep. 27, 2017 | Jul. 02, 2017 | Sep. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2014 | Jun. 30, 2016 |
Outstanding balance | $ 0 | $ 36,050 | |||||
Interest expense | 979 | 7,381 | |||||
Amortization of debt discount | 302,567 | 18,750 | |||||
Proceeds from related party debt | 28,200 | ||||||
Loans payable due to related parties | $ 7,750 | $ 7,750 | |||||
Unrelated Party [Member] | |||||||
Loan bears interest rate | 12.00% | ||||||
Loan maturity date | Mar. 16, 2017 | ||||||
Outstanding balance | 10,000 | ||||||
Interest expense | $ 1,201 | $ 348 | |||||
Debt instrument, maturity date, description | The loan bears 12% interest and on March 16, 2017, the original maturity date, an extension was granted to April 1, 2018. | ||||||
Proceeds from related party debt | $ 10,000 | ||||||
Minimum [Member] | |||||||
Volatility | 253.00% | ||||||
Risk free rate of return | 1.24% | ||||||
Expected term | 1 year | ||||||
Maximum [Member] | |||||||
Volatility | 286.00% | ||||||
Risk free rate of return | 1.53% | ||||||
Expected term | 3 years | ||||||
Loan Payable Agreement [Member] | |||||||
Loan maturity date | Sep. 15, 2017 | Sep. 15, 2017 | |||||
Outstanding balance | $ 17,100 | ||||||
Interest expense | $ 1,500 | 1,500 | |||||
Loan payable related party | $ 14,100 | $ 14,100 | |||||
Option to purchase shares of common stock | 1,000,000 | 1,000,000 | |||||
Option exercise price per share | $ 0.015 | $ 0.015 | |||||
Fair value of options | $ 26,746 | $ 26,746 | |||||
Amortization of debt discount | $ 14,100 | 14,100 | |||||
Accrued penalty | 1,750 | ||||||
Penalty per day | 100 | ||||||
Loans payable due to related parties | 7,750 | ||||||
Loan Payable Agreement [Member] | Derivative [Member] | |||||||
Interest expense | 1,500 | ||||||
Note Amendment [Member] | |||||||
Debt instrument, maturity date, description | On September 27, 2017, the Company entered into a note amendment, whereby, the term of the note was extended until November 1, 2017 | ||||||
Finance fee amount | $ 1,500 | ||||||
Late fee amount | $ 1,500 | ||||||
Loan Payable Agreement 1 [Member] | |||||||
Loan maturity date | Nov. 1, 2017 | ||||||
Outstanding balance | 17,500 | ||||||
Loan payable related party | $ 17,500 | $ 17,500 | |||||
Option to purchase shares of common stock | 1,000,000 | 1,000,000 | |||||
Option exercise price per share | $ 0.015 | $ 0.015 | |||||
Fair value of options | $ 22,945 | $ 22,945 | |||||
Amortization of debt discount | 14,100 | 14,100 | |||||
Finance fee amount | 3,400 | ||||||
Accrued penalty | 1,750 | ||||||
Penalty per day | 100 | ||||||
Proceeds from related party debt | 14,100 | 14,100 | |||||
Loans payable due to related parties | $ 7,750 | ||||||
Loan funding fee | 1,750 | ||||||
Loan processing fee | $ 1,650 | ||||||
Loan One [Member] | |||||||
Due to a shareholder | $ 100,000 | ||||||
Loan bears interest rate | 12.00% | ||||||
Loan maturity date | Feb. 28, 2015 | ||||||
Loan Two [Member] | |||||||
Due to a shareholder | $ 100,000 | ||||||
Loan bears interest rate | 12.00% | ||||||
Loan maturity date | Mar. 30, 2015 | ||||||
Loan [Member] | |||||||
Loan maturity date | Apr. 1, 2018 |
Convertible Note Payables (Deta
Convertible Note Payables (Details Narrative) | Nov. 14, 2017USD ($) | Nov. 13, 2017USD ($) | Sep. 27, 2017USD ($)shares | Sep. 15, 2017USD ($)$ / sharesshares | Jul. 25, 2017USD ($) | Apr. 25, 2017USD ($) | Jan. 06, 2017USD ($) | Jan. 06, 2017USD ($)Integer | Nov. 01, 2016USD ($)$ / shares | Oct. 26, 2016USD ($)Integer | May 31, 2017USD ($) | Apr. 30, 2017 | Apr. 21, 2017USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | Jun. 30, 2017USD ($) |
Amortized of debt discount | $ 302,567 | $ 18,750 | ||||||||||||||
Interest expense debt | 979 | 7,381 | ||||||||||||||
Proceeds from related party debt | $ 28,200 | |||||||||||||||
Minimum [Member] | ||||||||||||||||
Volatility | 253.00% | |||||||||||||||
Risk free rate of return | 1.24% | |||||||||||||||
Expected term | 1 year | |||||||||||||||
Maximum [Member] | ||||||||||||||||
Volatility | 286.00% | |||||||||||||||
Risk free rate of return | 1.53% | |||||||||||||||
Expected term | 3 years | |||||||||||||||
Note Holder [Member] | ||||||||||||||||
Convertible note payables | $ 49,200 | 65,000 | ||||||||||||||
Debt instrument, maturity date, description | The Company entered into a note amendment whereby, the maturity of the note was extended to January 26, 2018 | |||||||||||||||
Amortized of debt discount | 37,880 | 13,418 | ||||||||||||||
Interest expense debt | $ 33,118 | 8,110 | 1,410 | |||||||||||||
Derivative liability | 174,932 | |||||||||||||||
Amortized of finance fee | 7,800 | 12,320 | 2,111 | |||||||||||||
Cash payment | 33,118 | |||||||||||||||
Debt conversion value | $ 23,600 | |||||||||||||||
Number of shares issued on conversion | shares | 2,911,195 | |||||||||||||||
Gain loss on debt settlement | $ 5,786 | |||||||||||||||
Volatility | 286.00% | |||||||||||||||
Risk free rate of return | 1.20% | |||||||||||||||
Expected term | 118 days | |||||||||||||||
Note Holder [Member] | Common Stock [Member] | ||||||||||||||||
Number of shares issued on conversion | shares | 12,681,921 | |||||||||||||||
Note Holder [Member] | Derivative Liability [Member] | ||||||||||||||||
Interest expense debt | 186,950 | |||||||||||||||
Note Holder [Member] | Minimum [Member] | ||||||||||||||||
Debt principal amount | 7,800 | |||||||||||||||
Note Holder [Member] | Maximum [Member] | ||||||||||||||||
Debt principal amount | $ 72,800 | |||||||||||||||
Convertible Note Agreement [Member] | ||||||||||||||||
Debt discount | $ 14,700 | |||||||||||||||
Exercise price per share | $ / shares | $ 0.10 | |||||||||||||||
Convertible Note Agreement [Member] | Convertible Promissory Note [Member] | Conversion Price [Member] | ||||||||||||||||
Debt discount lowest trading days | Integer | 25 | 20 | ||||||||||||||
Percentage of debt discount lowest trading price | 50.00% | 50.00% | ||||||||||||||
Convertible Note Agreement [Member] | Convertible Promissory Note [Member] | Conversion Price 1[Member] | ||||||||||||||||
Debt discount lowest trading days | Integer | 25 | 20 | ||||||||||||||
Percentage of debt discount lowest trading price | 50.00% | 50.00% | ||||||||||||||
Convertible Note Agreement [Member] | Convertible Promissory Note [Member] | Until Ninetieth (90) day after the Issuance Date [Member] | ||||||||||||||||
Debt redemption price percentage | 135.00% | |||||||||||||||
Convertible Note Agreement [Member] | Convertible Promissory Note [Member] | 90 Day One Hundred and Twentieth (120) Day after Issuance Date [Member] | ||||||||||||||||
Debt redemption price percentage | 140.00% | |||||||||||||||
Convertible Note Agreement [Member] | Convertible Promissory Note [Member] | From 12th day One Hundred and Eightieth (180) Day After Issuance Date [Member] | ||||||||||||||||
Debt redemption price percentage | 145.00% | |||||||||||||||
Equity Purchase Agreement[Member] | Convertible Promissory Note [Member] | After the 180th day up to the Maturity Date [Member] | ||||||||||||||||
Debt redemption price percentage | 150.00% | |||||||||||||||
Note Amendment Agreement [Member] | ||||||||||||||||
Convertible note payables | $ 85,750 | |||||||||||||||
Notes maturity date | Oct. 6, 2017 | |||||||||||||||
Amortized of debt discount | $ 69,466 | |||||||||||||||
Interest expense debt | 11,571 | |||||||||||||||
Amortized of finance fee | $ 38,705 | |||||||||||||||
Cash payment | $ 14,100 | |||||||||||||||
Number of shares issued on conversion | shares | 9,836,100 | |||||||||||||||
Volatility | 206.00% | 286.00% | ||||||||||||||
Risk free rate of return | 1.03% | 1.28% | ||||||||||||||
Expected term | 98 days | 37 days | ||||||||||||||
Default interest rate | 22.00% | |||||||||||||||
Note Amendment Agreement [Member] | Derivative Liability [Member] | ||||||||||||||||
Interest expense debt | $ 67,118 | |||||||||||||||
Note Amendment Agreement [Member] | Minimum [Member] | ||||||||||||||||
Debt principal amount | $ 14,100 | |||||||||||||||
Note Amendment Agreement [Member] | Maximum [Member] | ||||||||||||||||
Debt principal amount | $ 92,850 | |||||||||||||||
Second Note Amendment Agreement [Member] | ||||||||||||||||
Interest expense debt | $ 7,006 | |||||||||||||||
Cash payment | $ 14,100 | |||||||||||||||
Number of shares issued on conversion | shares | 1,946,000 | |||||||||||||||
Gain loss on debt settlement | $ 34,837 | |||||||||||||||
Debt reduced principal amount | 85,750 | |||||||||||||||
Second Note Amendment Agreement [Member] | Minimum [Member] | ||||||||||||||||
Debt principal amount | 21,100 | |||||||||||||||
Second Note Amendment Agreement [Member] | Maximum [Member] | ||||||||||||||||
Debt principal amount | $ 99,850 | |||||||||||||||
Three Unrelated Parties [Member] | ||||||||||||||||
Convertible note payables | $ 10,000 | 40,000 | ||||||||||||||
Promissory note rate of interest per annum | 12.00% | |||||||||||||||
Notes maturity date | Apr. 30, 2017 | |||||||||||||||
Conversion price per share | $ / shares | $ 0.075 | |||||||||||||||
Debt discount | $ 16,000 | |||||||||||||||
Debt instrument, maturity date, description | Company extended the term of the four notes by 90 days until July 29, 2017. | |||||||||||||||
Amortized of debt discount | 10,668 | 5,332 | ||||||||||||||
Interest expense debt | $ 4,800 | $ 787 | ||||||||||||||
Accredited Investor [Member] | ||||||||||||||||
Conversion of note, description | The Company may prepay the note in full together with any accrued and unpaid interest plus any applicable pre-payment premium set forth in the note. Until the Ninetieth (90th) day after the Issuance Date the Company may pay the principal at a cash redemption premium of 135%, in addition to outstanding interest, which can be paid without the Holders consent; from the 90th day to the One Hundred and Twentieth (120th) day after the Issuance Date, the Company may pay the principal at a cash redemption premium of 140%, in addition to outstanding interest, which can be paid without the Holders consent; from the 12th day to the One Hundred and Eightieth (180th) day after the Issuance Date, the Company may pay the principal at a cash redemption premium of 145%, in addition to outstanding interest, which can be paid without the Holders consent. After the 180th day up to the Maturity Date this Note shall have a cash redemption premium of 150% of the then outstanding principal amount of the Note, plus accrued interest and Default Interest if any, which may only be paid by the Company upon Holders prior written consent The note is convertible into fully paid and non-assessable shares of common stock, after 180 days from the date of the note, at a conversion price which is lower of: (i) a 50% discount to the lowest trading price during the previous twenty trading days prior to the date of a conversion notice; or (ii) a 50% discount to the lowest trading price during the previous twenty trading days before the date that this note was executed. Since the conversion price of the note is variable, the conversion option has been treated as a derivative liability. | |||||||||||||||
Accredited Investor [Member] | Convertible Note Agreement [Member] | ||||||||||||||||
Convertible note payables | $ 65,000 | |||||||||||||||
Promissory note rate of interest per annum | 12.00% | |||||||||||||||
Notes maturity date | Jul. 26, 2017 | |||||||||||||||
Debt discount | $ 55,500 | |||||||||||||||
Interest expense debt | 186,950 | |||||||||||||||
Note financing cost | 9,500 | |||||||||||||||
Derivative liability | $ 242,450 | |||||||||||||||
Third Party [Member] | Convertible Note Agreement [Member] | ||||||||||||||||
Convertible note payables | $ 27,000 | $ 19,181 | $ 25,000 | $ 28,000 | $ 78,750 | $ 78,750 | $ 28,000 | $ 58,000 | $ 23,000 | |||||||
Promissory note rate of interest per annum | 12.00% | 12.00% | 10.00% | 12.00% | 12.00% | 12.00% | 12.00% | 12.00% | ||||||||
Notes maturity date | Nov. 14, 2018 | Aug. 30, 2018 | Sep. 15, 2018 | Apr. 30, 2018 | Oct. 6, 2017 | Mar. 15, 2018 | Jan. 30, 2018 | Jan. 30, 2018 | ||||||||
Debt discount | $ 18,681 | $ 14,700 | $ 25,000 | $ 70,000 | $ 70,000 | $ 25,000 | $ 55,000 | |||||||||
Amortized of debt discount | $ 25,000 | 7,800 | $ 52,677 | |||||||||||||
Interest expense debt | 40,378 | 22,954 | 105,836 | 23,934 | 67,118 | 12,967 | 30,380 | 4,354 | ||||||||
Note financing cost | $ 2,000 | $ 500 | $ 2,500 | $ 3,000 | 8,750 | 8,750 | $ 3,000 | $ 3,000 | ||||||||
Percentage of debt discount lowest trading price | 50.00% | 51.00% | 61.00% | 51.00% | 61.00% | 61.00% | ||||||||||
Derivative liability | $ 65,378 | $ 41,653 | $ 113,636 | $ 48,934 | $ 137,118 | 137,118 | $ 37,967 | $ 85,380 | 21,366 | |||||||
Amortized of finance fee | 2,809 | |||||||||||||||
Debt conversion value | $ 35,000 | |||||||||||||||
Number of shares issued on conversion | shares | 3,106,274 | |||||||||||||||
Gain loss on debt settlement | $ 1,528 | |||||||||||||||
Convertible shares of common stock | shares | 250,000 | |||||||||||||||
Volatility | 253.00% | 309.00% | 286.00% | 189.00% | 189.00% | 160.00% | 253.00% | |||||||||
Risk free rate of return | 1.55% | 1.55% | 1.17% | 1.24% | 1.17% | 1.20% | 1.28% | |||||||||
Expected term | 365 days | 290 days | 137 days | 279 days | 288 days | 284 days | 30 days | |||||||||
Proceeds from related party debt | $ 25,000 | $ 18,681 | $ 22,500 | $ 25,000 | $ 70,000 | $ 25,000 | $ 55,000 | |||||||||
Exercise price per share | $ / shares | $ 0.10 | |||||||||||||||
Third Party [Member] | Convertible Note Agreement One [Member] | ||||||||||||||||
Convertible note payables | $ 28,000 | |||||||||||||||
Notes maturity date | Mar. 15, 2018 | |||||||||||||||
Amortized of debt discount | $ 18,576 | |||||||||||||||
Interest expense debt | 1,970 | |||||||||||||||
Derivative liability | 21,421 | |||||||||||||||
Amortized of finance fee | $ 2,229 | |||||||||||||||
Volatility | 253.00% | |||||||||||||||
Risk free rate of return | 1.39% | |||||||||||||||
Expected term | 74 days | |||||||||||||||
Third Party [Member] | Convertible Note Agreement Two [Member] | ||||||||||||||||
Convertible note payables | $ 28,000 | |||||||||||||||
Notes maturity date | Apr. 30, 2018 | |||||||||||||||
Amortized of debt discount | $ 14,247 | |||||||||||||||
Interest expense debt | 1,464 | |||||||||||||||
Derivative liability | 42,700 | |||||||||||||||
Amortized of finance fee | $ 1,710 | |||||||||||||||
Volatility | 253.00% | |||||||||||||||
Risk free rate of return | 1.39% | |||||||||||||||
Expected term | 120 days | |||||||||||||||
Third Party [Member] | Convertible Note Agreement Three [Member] | ||||||||||||||||
Convertible note payables | $ 19,181 | |||||||||||||||
Notes maturity date | Aug. 30, 2018 | |||||||||||||||
Debt discount | $ 18,681 | |||||||||||||||
Amortized of debt discount | 3,092 | |||||||||||||||
Interest expense debt | 303 | |||||||||||||||
Derivative liability | 267,445 | |||||||||||||||
Amortized of finance fee | $ 83 | |||||||||||||||
Volatility | 253.00% | |||||||||||||||
Risk free rate of return | 1.76% | |||||||||||||||
Expected term | 242 days | |||||||||||||||
Third Party [Member] | Convertible Note Agreement Four [Member] | ||||||||||||||||
Convertible note payables | $ 25,000 | |||||||||||||||
Notes maturity date | Sep. 15, 2018 | |||||||||||||||
Amortized of debt discount | $ 6,596 | |||||||||||||||
Interest expense debt | 733 | |||||||||||||||
Derivative liability | 59,596 | |||||||||||||||
Amortized of finance fee | $ 733 | |||||||||||||||
Volatility | 253.00% | |||||||||||||||
Risk free rate of return | 1.76% | |||||||||||||||
Expected term | 258 days | |||||||||||||||
Third Party [Member] | Convertible Note Agreement Five [Member] | ||||||||||||||||
Convertible note payables | $ 27,000 | |||||||||||||||
Notes maturity date | Nov. 14, 2018 | |||||||||||||||
Amortized of debt discount | $ 3,219 | |||||||||||||||
Interest expense debt | 417 | |||||||||||||||
Derivative liability | 73,800 | |||||||||||||||
Amortized of finance fee | $ 258 | |||||||||||||||
Volatility | 253.00% | |||||||||||||||
Risk free rate of return | 1.76% | |||||||||||||||
Expected term | 318 days |
Commitments and Contingencies36
Commitments and Contingencies (Details Narrative) - USD ($) | Sep. 16, 2015 | Mar. 01, 2014 | Dec. 31, 2017 | Dec. 31, 2016 |
Commitments and Contingencies Disclosure [Abstract] | ||||
Lease agreement period | 3 years | |||
Lease monthly payment | $ 2,300 | $ 2,200 | ||
Lease term expiration date | Apr. 30, 2017 | |||
Rent expenses | $ 26,156 | $ 47,717 | ||
Cost of airbag | 500,000 | |||
Maximum cost of airbag | $ 2,000,000 |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Amount of Vehicles Per Year (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Sale of vehicles per year | $ 92,000 |
First Year [Member] | |
Sale of vehicles per year | 2,000 |
Second Year [Member] | |
Sale of vehicles per year | 6,000 |
Third Year [Member] | |
Sale of vehicles per year | 12,000 |
Fourth Year [Member] | |
Sale of vehicles per year | 24,000 |
Fifth Year [Member] | |
Sale of vehicles per year | $ 48,000 |
Revolving Line of Credit- Rel38
Revolving Line of Credit- Related Party (Details Narrative) | Feb. 12, 2016USD ($)Integer | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) |
Line of credit amount | $ 100,000 | ||
Line of credit interest rate | 12.00% | ||
Line of credit due date | Jun. 30, 2018 | ||
Amortized of debt discount | $ 302,567 | $ 18,750 | |
Interest expense debt | 979 | 7,381 | |
Proceeds from related party debt | 28,200 | ||
Outstanding balance | $ 0 | $ 36,050 | |
Revolving Credit Facility [Member] | |||
Revolving line of credit agreement period | 12 months | ||
Debt discount lowest trading days | Integer | 15 | ||
Percentage of debt discount lowest trading price | 50.00% | ||
Derivative liability | $ 227,760 | ||
Debt discount | 101,400 | ||
Interest expense debt | $ 126,360 | ||
Revolving Credit Facility [Member] | Unrelated Third Party [Member] | |||
Line of credit due date | Jun. 30, 2018 | ||
Derivative liability | $ 62,222 | ||
Amortized of debt discount | 21,430 | ||
Interest expense debt | 3,600 | ||
Proceeds from related party debt | 30,000 | ||
Debt conversion value | $ 5,000 | ||
Number of shares issued on conversion | shares | 892,857 | ||
Loss on debt settlement | $ 714 | ||
Outstanding balance | $ 25,000 | ||
Revolving Credit Facility [Member] | Related Party [Member] | |||
Line of credit due date | Jun. 30, 2018 | ||
Derivative liability | $ 177,707 | ||
Amortized of debt discount | 46,924 | ||
Interest expense debt | 8,568 | ||
Outstanding balance | $ 71,400 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Federal net operating loss carry forwards | $ 4,000,000 | $ 2,800,000 |
Operating loss carryforward expiration date | expiring beginning in 2032 |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Income Tax Disclosure [Abstract] | ||
Net loss carryforward | $ 1,100,000 | $ 780,000 |
Valuation allowance | (1,100,000) | (780,000) |
Total deferred tax assets |
Promissory Note and Equity Pu41
Promissory Note and Equity Purchase Agreement (Details Narrative) - USD ($) | Jun. 24, 2016 | Dec. 31, 2017 |
Value of common stock issued | $ 8,589 | |
Equity Purchase Agreement[Member] | ||
Conversion of convertible securities, shares | 1,500,000 | |
Conversion of convertible securities, value | $ 75,000 | |
Accrued interest | $ 6,576 | |
Investor [Member] | Equity Purchase Agreement[Member] | ||
Non refundable promissory note issued | $ 75,000 | |
Promissory note rate of interest per annum | 10.00% | |
Debt instrument maturity term | 1 year | |
Value of common stock issued | $ 10,000,000 | |
Percentage of market value of common stock issued | 88.00% | |
Percentage of common stock outstanding | 9.99% | |
Outstanding balance | $ 0 |
Equity (Details Narrative)
Equity (Details Narrative) - USD ($) | Sep. 27, 2017 | Jul. 02, 2017 | Jun. 24, 2016 | Dec. 31, 2017 | Dec. 31, 2016 |
Shares issued during period for services, value | $ 10,840 | $ 381,480 | |||
Shares issued for cash | 17,250 | 10,000 | |||
Capital contribution fair market value | 44,000 | ||||
Additional paid in capital for beneficial conversion feature | $ 42,900 | $ 16,000 | |||
Common stock, shares authorized | 300,000,000 | 100,000,000 | |||
Preferred stock, shares authorized | 10,000,000 | 0 | |||
Stock issued during period, shares, new issues | 140,808 | ||||
Proceeds from related party debt | $ 28,200 | ||||
Convertible Note One [Member] | |||||
Additional paid in capital for beneficial conversion feature | $ 10,000 | ||||
Conversion of convertible securities, share | 1,946,200 | ||||
Accrued interest | $ 7,006 | ||||
Convertible Note Two [Member] | |||||
Additional paid in capital for beneficial conversion feature | 10,000 | ||||
Conversion of convertible securities, share | 892,857 | ||||
Conversion of convertible securities, value | $ 5,000 | ||||
Convertible Note Three [Member] | |||||
Additional paid in capital for beneficial conversion feature | 10,000 | ||||
Convertible Note Four [Member] | |||||
Additional paid in capital for beneficial conversion feature | 10,000 | ||||
Non-refundable Promissory Note [Member] | |||||
Non refundable promissory note | $ 75,000 | ||||
Conversion of convertible securities, share | 1,500,000 | ||||
Accrued interest | $ 6,574 | ||||
Conversion price | $ 0.054 | ||||
Convertible Note [Member] | |||||
Conversion of convertible securities, share | 2,911,195 | ||||
Conversion of convertible securities, value | $ 23,600 | ||||
Related Party [Member] | |||||
Stock issued during period, shares, new issues | 140,808 | ||||
Payment of a related party accounts payable and penalties | $ 8,589 | ||||
Note Holder [Member] | |||||
Conversion of convertible securities, share | 3,106,274 | ||||
Conversion of convertible securities, value | $ 35,000 | ||||
Equity Purchase Agreement[Member] | |||||
Conversion of convertible securities, share | 1,500,000 | ||||
Accrued interest | $ 6,576 | ||||
Conversion of convertible securities, value | $ 75,000 | ||||
Consulting Services [Member] | |||||
Shares issued during period for services | 177,694 | ||||
Shares issued during period for services, value | $ 10,840 | ||||
Loan Payable Agreement [Member] | |||||
Loan payable related party | $ 14,100 | $ 14,100 | |||
Loan maturity date | Sep. 15, 2017 | Sep. 15, 2017 | |||
Option to purchase shares of common stock | 1,000,000 | 1,000,000 | |||
Option exercise price per share | $ 0.015 | $ 0.015 | |||
Fair value of options | $ 26,746 | $ 26,746 | |||
Debt discount | 14,100 | ||||
Loan Payable Agreement 1 [Member] | |||||
Loan payable related party | $ 17,500 | $ 17,500 | |||
Loan maturity date | Nov. 1, 2017 | ||||
Option to purchase shares of common stock | 1,000,000 | 1,000,000 | |||
Option exercise price per share | $ 0.015 | $ 0.015 | |||
Fair value of options | $ 22,945 | $ 22,945 | |||
Debt discount | 14,100 | ||||
Proceeds from related party debt | $ 14,100 | 14,100 | |||
Finance fee amount | 3,400 | ||||
Convertible Note Agreement [Member] | |||||
Loan payable related party | 25,000 | ||||
Debt discount | 14,700 | ||||
Convertible notes | 22,500 | ||||
Finance fee amount | $ 2,500 | ||||
Warrant to purchase shares | 250,000 | ||||
Warrant exercise price | $ 0.10 | ||||
Investor [Member] | Equity Purchase Agreement[Member] | |||||
Promissory note rate of interest per annum | 10.00% | ||||
Debt instrument maturity term | 1 year | ||||
Non-refundable promissory note issued | $ 75,000 | ||||
Amortization of deferred equity issuance costs | $ 37,500 | $ 18,750 | |||
Prior President [Member] | |||||
Capital contribution fair market value | $ 48,000 | ||||
Minimum [Member] | |||||
Common stock, shares authorized | 100,000,000 | ||||
Preferred stock, shares authorized | 0 | ||||
Maximum [Member] | |||||
Common stock, shares authorized | 300,000,000 | ||||
Preferred stock, shares authorized | 10,000,000 | ||||
Issuance For Services [Member] | |||||
Shares issued during period for services | 3,200,000 | ||||
Shares issued during period for services, value | $ 256,480 | ||||
Issuance For Services [Member] | Minimum [Member] | |||||
Stock issued, per share | $ 0.157 | ||||
Issuance For Services [Member] | Maximum [Member] | |||||
Stock issued, per share | $ 0.075 | ||||
Issuance For Marketing Services [Member] | |||||
Shares issued during period for services | 825,000 | ||||
Shares issued during period for services, value | $ 125,000 | ||||
Stock issued, per share | $ 0.1497 | ||||
Issuance For Cash [Member] | |||||
Stock issued, per share | $ 0.05 | ||||
Shares issued for cash, shares | 200,000 | ||||
Shares issued for cash | $ 10,000 | ||||
Issuance For Cash [Member] | Third Party [Member] | |||||
Shares issued for cash, shares | 36,885 | ||||
Shares issued for cash | $ 2,250 | ||||
Issuance For Cash [Member] | Third Party One [Member] | |||||
Shares issued for cash, shares | 1,000,000 | ||||
Shares issued for cash | $ 15,000 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Common stock shares authorized | 300,000,000 | 100,000,000 |
Number of preferred stock shares issued | 140,808 | |
Minimum [Member] | ||
Common stock shares authorized | 100,000,000 | |
Maximum [Member] | ||
Common stock shares authorized | 300,000,000 | |
Subsequent Event [Member] | ||
Conversion of convertible securities, shares | 45,625,214 | |
Subsequent Event [Member] | President [Member] | ||
Number of preferred stock shares issued | 3,000,000 | |
Subsequent Event [Member] | Minimum [Member] | ||
Common stock shares authorized | 300,000,000 | |
Subsequent Event [Member] | Maximum [Member] | ||
Common stock shares authorized | 1,000,000,000 |