January 26, 2016 Securities Purchase Agreement (Details) - USD ($)
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Sep. 30, 2016 |
Aug. 08, 2016 |
Jul. 25, 2016 |
Jan. 26, 2016 |
| January 26, 2016 Securities Purchase Agreement Details |
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| Entered into SPA for convertible note with an accredited investor |
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$ 180,000
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| Annual interest rate on the convertible note under SPA |
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7.00%
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| Note contains an OID |
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$ 18,000
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| Related legal costs |
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6,000
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| Net proceeds received |
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$ 156,000
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| Prior to the 30th day, the redemption will be of the unpaid principal amount and accrued interest |
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105.00%
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| 31st day up to and including the 60th day, the redemption will be of the unpaid principal amount and accrued interest |
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115.00%
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| 61st day up to and including the 120th day, the redemption will be of the unpaid principal amount and accrued interest |
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135.00%
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| 121st day up to and including the 180th day, the redemption will be of the unpaid principal amount and accrued interest |
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150.00%
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| The conversion price is equal to the lowest trading price of the Company's common stock as reported on the QTCQB for the ten prior trading days |
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55.00%
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| Agreed to reserve an initial number of shares of Common Stock for conversions under the Note |
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10,800,000
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| OID interest recorded as discount |
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$ 18,000
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| Related loan costs recorded as discount |
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$ 6,000
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| Company recognized the fair value of the embedded conversion feature as a derivative liability |
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$ 238,479
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| Value recorded as a discount to the note |
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167,898
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| Value recorded as a one day derivative loss |
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$ 70,581
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| The investor converted the principal balance into shares of restricted common stock |
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$ 180,000
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| The investor converted the accrued interest into shares of restricted common stock |
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$ 6,662
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| Shares of restricted common stock issued to the investor |
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9,506,619
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| Discount amortization of the January 26, 2016 note during the period |
$ 191,898
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