Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Jun. 30, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | Genethera Inc | |
Document Type | 10-K | |
Document Period End Date | Dec. 31, 2016 | |
Trading Symbol | gnth | |
Amendment Flag | false | |
Entity Central Index Key | 1,017,110 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 40,064,983 | |
Entity Public Float | $ 40,064 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | FY |
Statement of Financial Position
Statement of Financial Position - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Assets, Current | ||
Cash and Cash Equivalents, at Carrying Value | $ 94 | |
Accounts Receivable, Net, Current | 22,492 | |
Assets, Current | 22,492 | |
Assets, Noncurrent | ||
Property Plant And Equipment Other | 13,000 | |
Other Assets, Noncurrent | 110,620 | |
Assets, Noncurrent | 123,620 | |
Assets | 146,112 | |
Liabilities, Current | ||
BankOverdrafts | $ 348 | 33 |
Accounts Payable, Current | 724,582 | 925,652 |
Accrued Liabilities, Current | 3,661,473 | 3,216,564 |
Due To Related Parties Current | 1,029,237 | 929,151 |
Notes Payable, Current | 10,800 | 10,800 |
Loans Payable, Current | 1,369,121 | 1,262,002 |
Other Liabilities, Current | 325,886 | 325,886 |
Liabilities, Current | 7,121,447 | 6,670,088 |
Liabilities, Noncurrent | ||
Liabilities | 7,121,447 | 6,670,088 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ||
Preferred Stock, Value, Issued | 15,415 | 15,415 |
Common Stock, Value, Issued | 93,636 | 90,183 |
Additional Paid in Capital, Common Stock | 18,583,242 | 18,405,246 |
Retained Earnings (Accumulated Deficit) | (25,813,740) | (25,034,820) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (7,121,447) | (6,523,976) |
Liabilities and Equity | $ 146,112 |
Statement of Financial Positio3
Statement of Financial Position - Parenthetical - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Balance Sheets | ||
Preferred Stock, Par Value | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Issued | 15,414,600 | 15,414,600 |
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 300,000,000 | 300,000,000 |
Common Stock, Shares Issued | 40,064,983 | 36,610,636 |
Common Stock, Shares Outstanding | 40,064,983 | 36,610,636 |
Statement of Income
Statement of Income - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Expenses | ||
General and Administrative Expense | $ 680,067 | $ 900,898 |
Operating Expenses | 680,067 | 900,898 |
Operating Income (Loss) | (680,067) | (900,898) |
Nonoperating Income (Expense) | ||
Other Nonoperating Income (Expense) | 38,852 | |
Nonoperating Income (Expense) | 38,852 | |
Interest and Debt Expense | ||
Interest Expense | (137,705) | (184,573) |
Interest and Debt Expense | (137,705) | (184,573) |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | (778,920) | (1,085,471) |
IncomeTaxExpenseBenefitContinuingOperationsAbstract | ||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | (778,920) | (1,085,471) |
Net Income (Loss) Attributable to Parent | (778,920) | (1,085,471) |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract | ||
ComprehensiveIncomeNetOfTax | $ (778,920) | $ (1,085,471) |
Earnings Per Share | ||
Earnings Per Share, Basic | $ (0.02) | $ (0.03) |
Weighted Average Number of Shares Outstanding, Basic | 36,610,636 | 36,558,258 |
Earnings Per Share, Diluted | $ (0.02) | $ (0.03) |
Weighted Average Number of Shares Outstanding, Diluted | 36,610,636 | 36,558,258 |
Statement of Shareholders' Equi
Statement of Shareholders' Equity - USD ($) | Common Stock | Additional Paid-in Capital | Preferred Stock | Retained Earnings | Total |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2014 | $ 34,473 | $ 18,160,622 | $ 15,415 | $ (23,949,350) | $ (5,738,840) |
Shares, Outstanding at Dec. 31, 2014 | 34,473,056 | 15,414,600 | |||
Stock Issued During Period, Value, New Issues | $ 2,137 | 244,624 | $ 246,761 | ||
Stock Issued During Period, Shares, New Issues | 2,137,580 | 2,137,580 | |||
Adjustments to Additional Paid in Capital, Other | 1 | $ 1 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (1,085,471) | (1,085,471) | |||
Stockholders' Equity, Other | $ 53,573 | 53,573 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2015 | $ 90,183 | 18,405,246 | $ 15,415 | (25,034,820) | $ (6,523,976) |
Shares, Outstanding at Dec. 31, 2015 | 36,664,209 | 15,414,600 | 52,078,809 | ||
Stock Issued During Period, Value, New Issues | $ 3,453 | 177,996 | $ 181,449 | ||
Stock Issued During Period, Shares, New Issues | 3,454,347 | 3,454,347 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (778,920) | $ (778,920) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2016 | $ 93,636 | $ 18,583,242 | $ 15,415 | $ (25,813,740) | $ (7,121,447) |
Shares, Outstanding at Dec. 31, 2016 | 40,118,556 | 15,414,600 | 55,533,156 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Net Cash Provided by (Used in) Operating Activities | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ (778,920) | $ (1,085,471) |
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | ||
Paid-in-Kind Interest | 102,030 | |
Other Noncash Income (Expense) | 0 | 0 |
Gain (Loss) on Disposition of Intangible Assets | 13,000 | |
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | 110,620 | |
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | (476,220) | (785,135) |
Increase (Decrease) in Operating Assets | ||
Increase Decrease In Receivables | 22,492 | (7,162) |
Increase (Decrease) in Other Operating Assets | ||
Increase (Decrease) in Operating Assets | 22,492 | (7,162) |
Increase (Decrease) in Operating Liabilities | ||
Increase (Decrease) in Accounts Payable | 41,008 | 598,517 |
Increase (Decrease) in Accrued Liabilities | 243,473 | 6,465 |
Increase (Decrease) in Operating Capital | 284,481 | 604,982 |
Net Cash Provided by (Used in) Operating Activities | (169,247) | (187,315) |
Net Cash Provided by (Used in) Investing Activities | ||
Payments to Acquire Property, Plant, and Equipment | (13,000) | |
Payments to Acquire Held-to-maturity Securities | (110,620) | |
Net Cash Provided by (Used in) Investing Activities | (123,620) | |
Net Cash Provided by (Used in) Financing Activities | ||
ProceedsFromRepaymentsOfBankOverdrafts | 689 | |
Proceeds from (Repayments of) Related Party Debt | 168,558 | 310,841 |
Net Cash Provided by (Used in) Financing Activities | 169,247 | 310,841 |
Cash and Cash Equivalents, Period Increase (Decrease) | (94) | |
Cash and Cash Equivalents, at Carrying Value | $ 94 | $ 94 |
Organization, Consolidation and
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies | Note 1 Organization, nature of operations and summary of significant accounting policies Organization and nature of operations The consolidated financial statements include GeneThera, Inc. and its wholly owned subsidiary GeneThera, Inc. (Colorado) (collectively GeneThera or the Company). GeneThera has a long standing research collaboration with GTI Research. GTI Research is assisting GeneThera in managing the robotic technology project. Our CEO is also collaborating with this project in order for our research and development to finally become commercial in order to generate revenues. GeneThera is a biotechnology company that develops molecular assays for the detection of food contaminating pathogens, veterinary diseases and genetically modified organisms. Use of estimates The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and cash equivalents Cash equivalents are highly liquid investments with an original maturity of three months or less. Principles of consolidation The consolidated financial statements include the accounts of the Company, it is a controlled subsidiary. Intercompany accounts are eliminated upon consolidation. Property and Equipment, Net Property and equipment consists primarily of office and laboratory equipment and leasehold improvements and is stated at cost. Depreciation is computed on a straight-line basis over the estimated useful lives ranging from five to seven years. Leasehold improvements are amortized over the shorter of their economic lives or lease terms. Impairment of Long-Lived Assets The Company reviews the recoverability of its long-lived assets to determine whether events or changes in circumstances occurred that indicate the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the ability to recover the carrying value of the asset from the expected future cash flows of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between the estimated fair value and carrying value. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations. Revenue Recognition Research and development contracts are on a pre-paid basis in order to reflect milestones during research investigation. Revenues are recognized when services are completed. There were no revenues during the years ended December 31, 2016 and 2015. Stock-Based Compensation Stock-based compensation is accounted for under FASB ASC Topic No. 718 Compensation Stock Compensation Income Taxes Income taxes are accounted for in accordance with the provisions of FASB ASC Topic No. 740 - Income Taxes Basic and Diluted Net Loss per Common Share Basic and diluted net loss per share calculations are presented in accordance with FASB ASC Topic No. 260 Earnings per Share Fair Value of Financial Instruments The carrying value of cash, accounts payable and accrued expenses approximates fair value due to the short term nature of these accounts. Recently Issued Accounting Pronouncements The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant effect on its consolidated financial position or results of operations. The following are being evaluated for any potential impact: 2017-09 Stock Compensation 2016-12 Revenue from contracts with customers |
Substantial Doubt about Going C
Substantial Doubt about Going Concern | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Substantial Doubt about Going Concern | Note 2- Going Concern As reflected in the accompanying consolidated financial statements, the Company has an accumulated deficit of $25,813,740 and negative working capital of $7,121,447 as of December 31, 2016. This raises substantial doubt about the Companys ability to continue as a going concern. The Companys ability to continue as a going concern is dependent on its ability to raise additional capital and implement its business plan. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern. |
Short-term Debt, Description
Short-term Debt, Description | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Short-term Debt, Description | Note 3 Accrued Expenses The following is the breakdown of the Companys accrued expenses as of December 31, 2016 and 2015: 2016 2015 Accrued officer salaries $ 3,574,419 $ 2,943,904 Accrued interest 71,205 31,282 Accrued expenses- other 15,849 241,378 Total accrued expenses $ 3,661,473 $ 3,216,564 |
Debt Disclosure
Debt Disclosure | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Debt Disclosure | Note 4 Related party transactions The Company has an outstanding loan payable to Antonio Milici, its CEO and shareholder amounting to $676,796 as of December 31, 2016 and 2015, respectively. This outstanding loan to the Company is unsecured with a 2.41% interest bearing. The Company has an outstanding loan payable to Tannya Irizarry its COO and shareholder amounting to $90,356 as December 31,2016. This outstanding loan to the Company is unsecured. The Company had a receivable from GTI in the amount of $27,094.82 in 2015 and $0 in 2016. The Company had a loss of $27,094.82 forgiving the receivable for GTI. The Company had a receivable from Kalos Holding in the amount of $14,026 in 2015 and $0 in 2016. The Company had a loss of $14,026 forgiving the receivable for Kalos Holdings. The Company had payable for Elia Holdings in the amount of $625 in 2015 and was forgiving the payable in 2016. The Company had a gain of $625 in 2016. The Company had payable for Setna Holdings in amount of $989,003 in 2015 and $262,085 in 2016. The Company was forgiving the part of the payable in 2016 and had a gain of $76,378. Note 5 Extinguishment of Debt The Company has written off (Write-Off Accounts) $314,596 from Accounts Payable for a gain on extinguishment of Debt. Note 6 Convertible notes payable During fiscal 2016, the Company borrowed money from investors and issued convertible notes in the aggregate principal amount of $108,500 due on demand, bearing interest at an annual rate of 8%. The notes are convertible into shares of Company common stock at a conversion price between $0.01 to $0.05 per share. During fiscal 2015, the Company borrowed money from investors and issued convertible notes in the aggregate principal amount of $417,960 due on demand, bearing interest at an annual rate of 8%. The notes are convertible into shares of Company common stock at a conversion price between $0.015 through $0.04 per share. |
Stockholders' Equity Note Discl
Stockholders' Equity Note Disclosure | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Stockholders' Equity Note Disclosure | Note 7- Shareholders Equity Convertible preferred stock rights Preferred Stock (Series A) shall be convertible into common stock any time at the holders sole discretion at a fixed conversion stipulated by the parties. NO Reissuance of Preferred Stock. Any shares of Series A Preferred Stock acquired by the Corporation by reason of purchase, conversion or otherwise shall be cancelled, retired and eliminated from the shares of Series A Preferred Stock that the Corporation shall be authorized to issue. All such shares shall, upon their cancellation, become authorized but unissued shares of Preferred Stock and may be reissued as part of a new series of Preferred Stock, subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of Determination creating a series of Preferred Stock or any similar stock or as otherwise required by law. Preferred Stock (Series A) shall be convertible into common stock any time at the holders sole discretion at a ratio of 1:1 of common shares. Preferred A Stock are entitled to 5 common share votes per such preferred share. There are three (3) criteria for mandatory conversion: 1) IPO of a minimum of twenty million ($20,000,000); 2) Closing at more than $6.00 per share for twenty (20) days; and 3) as of March 31, 2014, all with the caveat that an effective registration be on file. Preferred Stock (Series B) shall be convertible into ten common shares at any time and holders are entitled to 20 common share votes per such preferred share. As of December 31, 2016, there were shares of Series A issued and 4,600 outstanding, convertible into shares of common stock. An additional 5,500 shares will be issued and 15,410,000 shares of Series B issued and outstanding, convertible into shares of common stock. Common Stock The Company has authorized 300,000,000 shares of of common stock, $.001 par value. The Company had issued and outstanding 40,064,983 and 36,610,636 shares as of December 31, 2016 and 2015, respectively. During the twelve months ended December 31, 2016, the Company issued 3,454,347 shares of common stock valued at $117,050 in exchange for services and property: · · · As of December 31, 2016 an additional 1,783,332 shares valued at $53,572 were yet to be issued pursuant to convertible notes payable that were converted. |
Commitments and Contingencies D
Commitments and Contingencies Disclosure | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Commitments and Contingencies Disclosure | Note 8 Commitments and contingencies Operating leases No operating leases. The only entity with operating leases is GTI Research, Inc., our scientific robotic technology collaborator. Employment Agreements On January 8, 2012, the Company entered into an employment agreement with its chief executive officer and scientific officer for a five year term and providing for a compensation of $18,000 per month, which the salary was deferred due to lack of reliable funding. The Company also entered into an employment agreement with its chief administrative and financial officer for a five year term and providing for a compensation of $14,000 per month, which was also deferred. On January 8, 2017, the Company entered into an employment agreement with its chief executive officer and scientific officer for a five year term and providing for a compensation of $18,750 per month. On the same date, the Company also entered into an employment agreement with its chief administrative and financial officer for a five year term and providing for a compensation of $17,333 per month. Both compensations continue to be on deferred salaries status and employment contracts expire on January 31, 2022. Legal Contingencies The Company is involved in claims arising during the ordinary course of business resulting from disputes with vendors and shareholders over various contracts and agreements. Other than those outstanding judgments previously mentioned in this filing, and those disclosed, no other legal claims have been made or are known at this time. |
Income Tax Disclosure
Income Tax Disclosure | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Income Tax Disclosure | Note 9 Income Taxes We are subject to taxation in the U.S. and the State of Colorado. The Company is not current on its tax filings and is subject to examination until those filings take place. The Company has no current or deferred income tax liability due to its operating losses. The Company has federal net operating loss carryforwards totaling $11,854,914 and 11,144,428 at December 31, 2016 and 2015, respectively. Subject to certain limitations (including limitations under Section 382 of the Internal Revenue Code), the carryforwards are available to offset future taxable income through 2035. The amount of change in the deferred tax asset and the related valuation allowance was approximately $191,486 during the year ending December 31, 2016, compared to approximately $313,326 in the year ending December 31,2015. Estimated deferred tax assets totaled $4,092,036 and $3,900,550 at December 31, 2016 and 2015, respectively. A 100% valuation allowance has been recorded to offset the deferred tax assets, due to uncertainty of the Companys ability to generate future taxable income, in the amount of $4,092,036, resulting in a net deferred tax asset of $0. We have analyzed the filing positions in all jurisdictions where we are required to file income tax returns and found no positions that would require a liability for unrecognized income tax positions be recognized. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Notes | |
Subsequent Events | Note 10 Subsequent Events On February 13, 2017, the Company received a loan from Lance C. Elliott in the amount of $10,000. No Convertible Promissory Note was issued. In November 2017, we entered into a letter of intent with FOGT LLC and memorialized this agreement in a Milestones Investment Agreement in March 2018, pursuant to which FOGT has agreed to invest and purchase $5 million of Series A Preferred Stock pending completion of certain milestones. To date, FOGT has invested $550,000, was authorized 5,500 shares of Series A, and has agreed to invest additional amounts as follows: (i) $1,200,000 upon the Company effecting all filings with the SEC as required pursuant to the Exchange Act; (ii) $1,500,000 upon completion of design, assembly and validation of an advanced robotic system; and (iii) $1,750,000 upon entering into a commercial agreement with a government organization or private entity. FOGT is an affiliate of Fred Oeschger, a director. On December 19, 2017, GTI Research, Inc., the Companys collaborator with Robotic Technology, signed a six year lease agreement commencing on January 1, 2018. The lab space is located in Denver, Colorado. The space is approximately 7,990 square feet. The security deposit was $12,000. The monthly rent during the first year is $12,000. The first three months of this six year lease is no rent. However, the landlord requested for the Company to pay the triple net in the amount of $2,337. The lease expires on March 31, 2024. |
Organization, Consolidation a15
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Use of Estimates, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Use of Estimates, Policy | Use of estimates The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Organization, Consolidation a16
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Cash and Cash Equivalents, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Cash and Cash Equivalents, Policy | Cash and cash equivalents Cash equivalents are highly liquid investments with an original maturity of three months or less. |
Organization, Consolidation a17
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Basis of Accounting, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Basis of Accounting, Policy | Principles of consolidation The consolidated financial statements include the accounts of the Company, it is a controlled subsidiary. Intercompany accounts are eliminated upon consolidation. |
Organization, Consolidation a18
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Property, Plant and Equipment, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Property, Plant and Equipment, Policy | Property and Equipment, Net Property and equipment consists primarily of office and laboratory equipment and leasehold improvements and is stated at cost. Depreciation is computed on a straight-line basis over the estimated useful lives ranging from five to seven years. Leasehold improvements are amortized over the shorter of their economic lives or lease terms. |
Organization, Consolidation a19
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy | Impairment of Long-Lived Assets The Company reviews the recoverability of its long-lived assets to determine whether events or changes in circumstances occurred that indicate the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the ability to recover the carrying value of the asset from the expected future cash flows of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between the estimated fair value and carrying value. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations. |
Organization, Consolidation a20
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Revenue Recognition, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Revenue Recognition, Policy | Revenue Recognition Research and development contracts are on a pre-paid basis in order to reflect milestones during research investigation. Revenues are recognized when services are completed. There were no revenues during the years ended December 31, 2016 and 2015. |
Organization, Consolidation a21
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Compensation Related Costs, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Compensation Related Costs, Policy | Stock-Based Compensation Stock-based compensation is accounted for under FASB ASC Topic No. 718 Compensation Stock Compensation |
Organization, Consolidation a22
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Income Tax, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Income Tax, Policy | Income Taxes Income taxes are accounted for in accordance with the provisions of FASB ASC Topic No. 740 - Income Taxes |
Organization, Consolidation a23
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Earnings Per Share, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Earnings Per Share, Policy | Basic and Diluted Net Loss per Common Share Basic and diluted net loss per share calculations are presented in accordance with FASB ASC Topic No. 260 Earnings per Share |
Organization, Consolidation a24
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Fair Value Measurement, Policy (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Fair Value Measurement, Policy | Fair Value of Financial Instruments The carrying value of cash, accounts payable and accrued expenses approximates fair value due to the short term nature of these accounts. |
Organization, Consolidation a25
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Recently Issued Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Policies | |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant effect on its consolidated financial position or results of operations. The following are being evaluated for any potential impact: 2017-09 Stock Compensation 2016-12 Revenue from contracts with customers |
Short-term Debt, Description_ S
Short-term Debt, Description: Schedule of Short-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Tables/Schedules | |
Schedule of Short-term Debt | 2016 2015 Accrued officer salaries $ 3,574,419 $ 2,943,904 Accrued interest 71,205 31,282 Accrued expenses- other 15,849 241,378 Total accrued expenses $ 3,661,473 $ 3,216,564 |
Short-term Debt, Description_27
Short-term Debt, Description: Schedule of Short-term Debt (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Details | ||
Accrued Liabilities, Current | $ 3,661,473 | $ 3,216,564 |