Quarterly report pursuant to Section 13 or 15(d)

12. Subsequent Events

12. Subsequent Events
3 Months Ended
Mar. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events

Increase in Outstanding Shares 


In April, 2016, the Company issued a convertible note in the amount of $30,030 in exchange for cash of $27,300. This note is unsecured, convertible into 300,300 shares in common stock of the Company at a conversion price of $0.10 per share and mature in one year. In connection with this note, the Company also issued warrants to purchase 150,150 shares of common stock of the Company at an exercise price of $0.10 per share and expiring one year from the date of issuance. As a result, the Company will record a note discount of $30,030 to account for the relative fair value of the warrants, the note’s beneficial conversion feature and original issue discount, which will be amortized as interest expense over the life of the notes.


In April, 2016, Company issued 3,546,400 shares of common stock upon conversion of previously issued convertible notes in aggregate value of $354,640.