Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2016shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | POWERDYNE INTERNATIONAL, INC. |
Entity Central Index Key | 1,435,617 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2016 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2,016 |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 1,527,930,584 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash | $ 133 | $ 1,922 |
Accounts receivable | 224 | |
Advances to stockholder | 11,321 | |
Total current assets | 357 | 13,243 |
Property and Equipment | ||
Property and equipment, net | 69,089 | 79,031 |
Total Assets | 69,446 | 92,274 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 132,182 | 68,877 |
Due to related parties | 25,000 | 25,000 |
Notes payable-related parties | 263,147 | 371,605 |
Income tax payable | 500 | 500 |
Total Current Liabilities | 420,829 | 465,982 |
Long Term Liabilities | ||
Notes payable-related parties | 137,663 | |
Total Long Term Liabilities | 137,663 | |
Total Liabilities | 558,492 | 465,982 |
Stockholders' Deficit: | ||
Common stock; $0.0001 par value; 2,000,000,000 shares authorized, 1,527,930,584 shares issued and outstanding as of September 30, 2016 and 1,379,430,584 shares issued and outstanding as of December 31, 2015 | 152,793 | 137,943 |
Additional paid-in capital | 2,693,266 | 2,678,066 |
Accumulated deficit | (3,335,105) | (3,189,717) |
Total Stockholders' Deficit | (489,045) | (373,708) |
Total Liabilities and Stockholders' Deficit | $ 69,446 | $ 92,274 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 |
Balance Sheets [Abstract] | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 1,527,930,584 | 1,379,430,584 |
Common stock, shares outstanding | 1,527,930,584 | 1,379,430,584 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statements of Operations [Abstract] | ||||
Revenues | $ 224 | $ 470 | $ 488 | $ 470 |
Cost of revenues | ||||
Gross profit | 224 | 470 | 488 | 470 |
Operating expenses | 21,127 | 201,735 | 145,876 | 350,773 |
Loss from operations | (20,903) | (201,265) | (145,388) | (350,303) |
Other (Income) Expense | ||||
Derivative expense | 43,877 | |||
Change in fair value of derivative | (2,518) | (50,345) | ||
Amortization of debt discount | 5,000 | 138,260 | ||
Total Other (Income) Expense | 2,482 | 131,792 | ||
Income (loss) before income tax expense | (20,903) | (203,747) | (145,388) | (482,095) |
Income tax (income) expense | 875 | 419 | ||
Net income (loss) | $ (20,903) | $ (204,622) | $ (145,388) | $ (482,514) |
Basic and diluted loss per common share | $ 0 | $ 0 | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding | 1,513,928,759 | 1,287,787,652 | 1,527,930,584 | 822,683,837 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Activities: | ||
Net income (loss) | $ (145,388) | $ (482,514) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 9,942 | 7,604 |
Bad Debt expense | 11,321 | |
Common stock issued for service and stock compensation | 30,050 | 139,800 |
Derivative and interest expense | 56,764 | |
Change in FV of derivatives | (50,345) | |
Amortization of debt discounts | 138,260 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (224) | (470) |
Other receivable | (673) | |
Accrued expenses | 63,305 | (3,297) |
Due to related party | (8,425) | |
Taxes payable | (956) | |
Net cash used in operating activities | (30,994) | (204,252) |
Investing Activities: | ||
Purchase of property and equipment | (39,544) | |
Net cash used in investing activities | (39,544) | |
Financing Activities: | ||
Principal paid on Notes payable related parties | (1,899) | |
Proceeds from Notes payable | 26,500 | |
Proceeds from Notes payable related parties | 29,205 | 228,000 |
Net cash provided by financing activities | 29,205 | 252,601 |
Net increase (decrease) in cash | (1,789) | 8,805 |
Cash, beginning of period | 1,922 | 2,265 |
Cash, end of period | 133 | 11,070 |
Non-cash investing and financing activities: | ||
Common stock issued in settlement for debt | 14,850 | 199,761 |
Settlement of derivative liability through conversion of notes payable. | 454,267 | |
Supplemental disclosure if cash flow information | ||
Cash paid for interest | ||
Cash paid for taxes | $ 1,375 |
Organization
Organization | 9 Months Ended |
Sep. 30, 2016 | |
Organization and Basis of Presentation [Abstract] | |
ORGANIZATION | 1. ORGANIZATION Powerdyne, Inc., was incorporated on February 2, 2010 in Nevada, and is registered to do business in Rhode Island and Massachusetts. On February 7, 2011, Powerdyne, Inc. merged with Powerdyne International, Inc., formerly Greenmark Acquisition Corporation, a publicly held Delaware corporation. On December 13, 2010, Powerdyne International, Inc., formerly Greenmark Acquisition Corporation, filed an Amended and Restated Articles of Incorporation in order to, among other things, increase the authorized capital stock to 300,000,000 common shares, par value $0.0001 per share. Unless the context specifies otherwise, as discussed in Note 2, references to the “Company” refers to Powerdyne International, Inc. and Powerdyne, Inc. after the merger. At the closing of the merger, each share of Powerdyne, Inc.’s common stock issued and outstanding immediately prior to the closing of the Merger was exchanged for the right to receive 7,520 shares of common stock of Powerdyne International, Inc. Accordingly, an aggregate of 188,000,000 shares of common stock of Powerdyne International, Inc. were issued to the holders of Powerdyne, Inc.’s common stock. In 2014, Powerdyne International, Inc. filed an amendment to its Articles of Incorporation which increased the authorized capital stock to 550,000,000 common shares, par value $0.0001 per share. On January 26, 2015, Powerdyne International, Inc. filed an amendment to its Articles of Incorporation which increased the authorized capital stock to 2,020,000,000 shares consisting of 2,000,000,000 common shares, par value $0.0001 per share and 20,000,000 shares which may be designated as common or preferred stock, par value $0.0001 per share. In March 2014 Company began production and distribution of completely packaged independent electrical generator units that run on environmentally-friendly fuel sources, such as natural gas and propane. |
Reverse Merger Accounting
Reverse Merger Accounting | 9 Months Ended |
Sep. 30, 2016 | |
Reverse Merger Accounting [Abstract] | |
REVERSE MERGER ACCOUNTING | 2. REVERSE MERGER ACCOUNTING On February 7, 2011, Greenmark Acquisition Corporation, which was a publicly held Delaware corporation, merged with Powerdyne, Inc. Upon closing of the transaction, Greenmark Acquisition Corporation, the surviving corporation in the merger, changed its name to Powerdyne International, Inc. The merger was accounted for as a reverse-merger, and recapitalization in accordance with generally accepted accounting principles in the United States (“GAAP”). Powerdyne, Inc. was the acquirer for financial reporting purposes and the Company was the acquired company. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements prior to the merger are those of Powerdyne, Inc. and have been recorded at the historical cost basis of Powerdyne, Inc., and the financial statements after completion of the merger include the assets and liabilities of the Company and Powerdyne, Inc., historical operations of Powerdyne, Inc. and operations of the Company from the closing date of the merger. Common stock and the corresponding capital amounts of the Company pre-merger were retroactively restated as capital stock shares reflecting the exchange ratio in the merger. In conjunction with the merger, the Company received no cash and assumed no liabilities from Greenmark Acquisition Corporation. |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
Organization and Basis of Presentation [Abstract] | |
BASIS OF PRESENTATION | 3. BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include all the notes required by generally accepted accounting principles for complete financial statements. Accordingly, certain information and footnote disclosures, normally included in financial statements prepared in accordance with generally accepted accounting principles, have been condensed or omitted pursuant to such rules and regulations. The statements presented as of September 30, 2016 and for the three and nine months ended September 30, 2016 and 2015 are unaudited. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation of the financial statements have been included. Certain information and footnote disclosure normally included in financial statements in accordance with generally accepted accounting principles have been omitted pursuant to the rules of the United States Securities and Exchange Commission (“SEC”). These unaudited financial statements should be read in conjunction with our audited financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed on April 14, 2016. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Summary of Significant Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements. Going Concern Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company has not generated significant revenues from its principal operations, and there is no assurance of future revenues. As of September 30, 2016, the Company had an accumulated deficit of $3,335,105. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required. The Company’s activities will necessitate significant uses of working capital beyond September 30, 2016. Additionally, the Company’s capital requirements will depend on many factors, including the success of the Company’s continued research and development efforts and the status of competitive products. The Company plans to continue financing its operations with cash received from financing activities. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. Use of Estimates In preparing these audited financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Fair Value of Financial Instruments The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company monitors the market conditions and evaluates the fair value hierarchy levels at least quarterly. For any transfers in and out of the levels of the fair value hierarchy, the Company elects to disclose the fair value measurement at the beginning of the reporting period during which the transfer occurred. The Company's financial instruments consisted of cash, accounts payable and accrued liabilities, advances to stockholders, notes payable and convertible debt. The estimated fair value of cash, accounts payable and accrued liabilities, advances to stockholders, and notes payable approximates its carrying amount due to the short maturity of these instruments. The recognition of the derivative values of convertible debt are based on the weighted-average Black-Scholes option pricing model. Revenue recognition The Company recognizes its revenue in accordance with ASC Topic 605, “ Revenue Recognition Cash The Company considers all highly-liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of September 30, 2016 and December 31, 2015, respectively. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions. From time to time, the Company may maintain cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. The Company has not incurred any loss from this risk. Property and Equipment Property and equipment is stated at cost. Capital expenditures for improvements and upgrades to existing equipment are also capitalized. Maintenance and repairs are expensed as incurred. The equipment is depreciated over 10 years on a straight-line basis. Depreciation expense for the nine months ended September 30, 2016 and 2015 was $9,942 and $7,604, respectively. Derivatives and Hedging In April 2008, the FASB issued a pronouncement that provides guidance on determining what types of instruments or embedded features in an instrument held by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in the pronouncement on accounting for derivatives. This pronouncement was effective for financial statements issued for fiscal years beginning after December 15, 2008. The adoption of these requirements can affect the accounting for many convertible instruments with provisions that protect holders from a decline in the stock price. Each reporting period, the Company evaluates whether convertible debt to acquire stock of the Company contain provisions that protect holders from declines in the stock price or otherwise could result in modification of the exercise price under the respective convertible debt agreements. The Company determined that the conversion features in the convertible notes issued during the second, third, and fourth quarters of 2014, contained such provisions and recorded such instruments as derivative liabilities. Long-Lived Assets In accordance with ASC 350-30 (formerly SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets Income Taxes As a result of the implementation of certain provisions of ASC 740, Income Taxes Accounting for Uncertainty in Income Taxes – An Interpretation of FASB Statement No. 109), In 2010, the Company adopted Accounting for Uncertain Income Taxes under the provisions of ASC 740. ASC 740 clarifies the accounting for income taxes by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. It also provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company did not recognize any additional liability for unrecognized tax benefits as a result of the adoption of ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material change to its financial position. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to ASC 740. In addition, we did not record a cumulative effect adjustment related to the adoption of ASC 740. The Company’s policy for recording interest and penalties associated with income-based tax audits is to record such items as a component of income taxes. The Company’s tax provision is determined using an estimate of its annual effective tax rate using enacted tax rates expected to apply to taxable income in the years in which they are earned, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, we make a cumulative adjustment. Income taxes payable as of September 30, 2016 and December 31, 2015 were $500 and $500, respectively. Loss per Common Share Basic loss per common share excludes dilutive securities and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company has only incurred losses, basic and diluted loss per share is the same. As of September 30, 2016 and December 31, 2015, there were no outstanding dilutive securities. The following table represents the computation of basic and diluted losses per share: Nine months ended September 30, 2016 Nine months ended September 30, 2015 Three months ended September 30, 2016 Three months ended September 30, 2015 (Income) Loss available for common shareholder $ (145,388 ) $ (482,514 ) $ (20,904 ) $ (204,622 ) Basic and fully diluted loss per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) Weighted average common shares outstanding - basic and diluted 1,527,930,584 822,683,837 1,513,928,759 1,287,787,652 Net loss per share is based upon the weighted average shares of common stock outstanding. Recent Accounting Pronouncements There are no recently issued accounting pronouncements that the Company has yet to adopt that are expected to have a material effect on its financial position results of operations, or cash flows. |
Property and Equipment - Net
Property and Equipment - Net | 9 Months Ended |
Sep. 30, 2016 | |
Property and Equipment - Net [Abstract] | |
PROPERTY AND EQUIPMENT - NET | 5. PROPERTY AND EQUIPMENT - NET Equipment consists of the following as of September 30, 2016 and December 31, 2015: September 30, December 31, 2016 2015 Machinery and equipment $ 171,043 $ 171,043 Less impairment of equipment (38,484 ) (38,484 ) 132,559 132,559 Less accumulated depreciation (63,470 ) (53,528 ) Total Property and Equipment $ 69,089 $ 79,031 Equipment is stated at cost and depreciated on a straight-line basis over the assets’ estimated useful lives: machinery and equipment 10 years. Total depreciation expense for the periods ended September 30, 2016 and 2015 was $9,942 and $7,604, respectively. |
Lease
Lease | 9 Months Ended |
Sep. 30, 2016 | |
Lease [Abstract] | |
LEASE | 6. LEASE On March 11, 2015 the Company finalized its negotiations with Farmacia Brisas del Mar, a corporation organized under the laws of Puerto Rico (the “Lessee”), and the Company and the Lessee have entered into a five-year contract to lease power generating equipment to Lessee based upon power consumption. In addition, the custom designed system will also provide cogeneration capabilities with the addition of chillers to support the air conditioning demands. The agreement provides for a payment to the Company of a monthly fee equal to the greater of a set monthly base rate or a monthly base rate plus an additional amount based on kilowatt wattage. The agreement provides for termination by the Company only in the event of nonperformance by the Lessee unless Lessee pays all payments due for the remainder of the term. The agreement contains representation and warranties, default provisions and indemnification provisions typical for agreements of this type. |
Common Stock
Common Stock | 9 Months Ended |
Sep. 30, 2016 | |
Common Stock [Abstract] | |
COMMON STOCK | 7. COMMON STOCK Stock issued for services On January 19, 2016 the Company issued 3,000,000 shares to a consultant as compensation for services rendered. The Company valued the stock at $0.0003, for a total of $900. On January 19, 2016 the Company issued 500,000 shares to a consultant as compensation for services rendered. The Company valued the stock at $0.0003, for a total of $150. On January 25, 2016 the Company issued 30,000,000 shares to stockholder as compensation for services rendered. The Company valued the stock at $0.0002, for a total of 6,000. On January 25, 2016 the Company issued 75,000,000 shares to stockholder as compensation for services rendered. The Company valued the stock at $0.0002, for a total of $15,000. On January 25, 2016 the Company issued 40,000,000 shares to a consultant as compensation for services rendered. The Company valued the stock at $0.0002, for a total of $8,000. |
Related Party - Promissory Note
Related Party - Promissory Note | 9 Months Ended |
Sep. 30, 2016 | |
Related Party - Promissory Note [Abstract] | |
RELATED PARTY - PROMISSORY NOTE | 8. RELATED PARTY – Promissory Note The Company obtained short-term financing from five different related parties from 2012 through September 30, 2016. As of September 30, 2016, 82.61% of the short-term financing is from one related party. The accrued interest payable to such related party is $39,109. The following are breakdowns for the promissory notes issued to these five different related parties. The Company obtained short-term cash flow from a related party in the form of three demand notes in the aggregate principal amount of $10,000 which have been outstanding since the year ended December 31, 2012. Two notes were amended and extended during 2014, and one note was amended and extended during the quarter ended September 30, 2015, changing the maturity date to one year later than what was on original notes. Note 1 was amended and extended during the quarter ended September 30, 2016, changing the maturity date to two years later than what was on original note. The notes bear an interest rate of 7% per annum and are unsecured. Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 6,000 7 % $ 1,710 $ 1,395 9/4/2018 Promissory note 2 $ 2,000 7 % $ 559 $ 454 10/1/2017 Promissory note 3 $ 2,000 7 % $ 535 $ 430 12/3/2017 Total $ 10,000 $ 2,804 $ 2,279 The Company obtained short-term cash flow from a related party in the form of nine demand notes in the aggregate principal amount of $70,953 during the period from 2012 through December 31, 2014. During the quarters ended September 30, 2015, June 30, 2015 and March 31, 2015 the Company borrowed $53,000, $115,000 and $60,000, respectively, in the form of eight demand notes. The Company repaid the principal amount of $453 during the year ended December 31, 2014, and $1,199 during the quarter ended March 31, 2015, and $700 during the quarter ended June 30, 2015. Notes 1 through 6 were amended and extended during 2014, changing the maturity date to one year later than what was on original notes. Notes 1 and 6 were amended again during the quarter ended September 30, 2015, changing the maturity date to one year later than what was on original notes. Note 7 was amended during the quarter ended June 30, 2016, changing the maturity date to one year later than what was on original note. Notes 1 and 6 were amended during the quarter ended September 30, 2016, changing the maturity dates to two years later than what was on original notes. The notes bear an interest rate of 7% per annum and are unsecured. Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 5,000 7 % $ 1,434 $ 1,171 7/25/2018 Promissory note 2 $ 11,000 7 % $ 3,034 $ 2,456 10/22/2017 Promissory note 3 $ 15,000 7 % $ 4,042 $ 3,254 11/24/2017 Promissory note 4 $ 102 7 % $ 28 $ 23 10/22/2017 Promissory note 5 $ 879 7 % $ 237 $ 191 11/24/2017 Promissory note 6 $ 973 7 % $ 279 $ 228 7/25/2018 Promissory note 7 $ 22,147 7 % $ 3,914 $ 2,750 5/4/2017 Promissory note 8 $ 7,000 7 % $ 886 $ 518 12/11/2016 Promissory note 9 $ 6,000 7 % $ 747 $ 432 12/22/2016 Promissory note 10 $ 25,000 7 % $ 3,030 $ 1,716 1/8/2017 Promissory note 11 $ 35,000 7 % $ 4,054 $ 2,215 2/5/2017 Promissory note 12 $ 40,000 7 % $ 4,158 $ 2,056 4/8/2017 Promissory note 13 $ 30,000 7 % $ 2,963 $ 1,387 5/5/2017 Promissory note 14 $ 45,000 7 % $ 4,013 $ 1,648 6/24/2017 Promissory note 15 $ 25,000 7 % $ 2,066 $ 753 7/28/2017 Promissory note 16 $ 15,000 7 % $ 1,174 $ 385 8/20/2017 Promissory note 17 $ 13,000 7 % $ 937 $ 254 9/21/2017 Promissory note 18 $ 5,000 7 % $ 351 $ 88 10/13/2017 Promissory note 19 $ 10,000 7 % $ 646 $ 121 10/30/2017 Promissory note 20 $ 3,000 7 % $ 167 $ 10 12/15/2017 Promissory note 21 $ 17,000 7 % $ 949 $ 55 12/15/2017 Total $ 331,101 $ 39,109 $ 21,711 The Company obtained short-term cash flow from a related party in the form of four demand notes in the aggregate principal amount of $6,504 during the period from 2012 through March 31, 2013, one demand note in the principal amount of $1,780 during the quarter ended March 31, 2016, and one demand note in the amount of $1,125 during the quarter ended June 30, 2016. Notes 1 and 2 were amended and extended during 2014, changing the maturity date to one year later than what was on original notes. Notes 3 and 4 were amended and extended during the quarter ended March 31, 2015, changing the maturity date to one year later than what was on original notes, and then amended and extended during the quarter ended March 31, 2016 changing the maturity date to two years later than what was on amended notes. The notes bear an interest rate of 7% per annum and are unsecured. Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 234 7 % $ 62 $ 50 12/5/2017 Promissory note 2 $ 170 7 % $ 46 $ 37 11/18/2017 Promissory note 3 $ 4,100 7 % $ 1,048 $ 833 2/5/2018 Promissory note 4 $ 2,000 7 % $ 511 $ 405 2/7/2018 Promissory note 5 $ 1,780 7 % $ 63 $ - 3/29/2018 Promissory note 6 $ 1,125 7 % $ 20 $ - 6/30/2018 Total $ 9,409 $ 1,750 $ 1,325 The Company obtained short-term cash flow from a related party in the form of two demand notes in the aggregate principal amount of $18,000 during the year of 2013. Both notes were amended and extended during the quarter ended March 31, 2015, changing the maturity date to one year later than what was on original notes, and amended and extended during the quarter ended March 31, 2016 changing the maturity date to two years later than what was on amended notes. The notes bear an interest rate of 7% per annum and are unsecured. Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 10,000 7 % $ 2,526 $ 2,000 2/21/2018 Promissory note 2 $ 8,000 7 % $ 1,982 $ 1,562 3/18/2018 Total $ 18,000 $ 4,508 $ 3,562 The Company obtained short-term cash flow from a related party in the form of one demand note in the principal amount of $6,000 during the year of 2014, three demand notes in the aggregate principal amount of $9,700 during the quarter ended March 31, 2016, one demand note in the principal amount of $11,500 during the quarter ended June 30, 2016, and one demand note in the principal amount of $5,100 during the quarter ended September 30, 2016. The notes bears an interest rate of 7% per annum and is unsecured. Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 6,000 7 % $ 906 $ 590 8/6/2018 Promissory note 2 $ 2,500 7 % $ 130 $ - 1/4/2018 Promissory note 3 $ 4,200 7 % $ 168 $ - 2/5/2018 Promissory note 4 $ 3,000 7 % $ 112 $ - 3/20/2018 Promissory note 5 $ 11,500 7 % $ 203 $ - 6/30/2018 Promissory note 6 $ 5,100 7 % $ 53 $ - 8/8/2018 Total $ 32,300 $ 1,571 $ 590 During the nine months ended September 30, 2016 the total amount of related party loan proceeds was $29,205. The total interest accrued on related party loans at September 30, 2016 and December 31, 2015 was $49,742 and $29,467, respectively. From time to time, the Company advances amounts to stockholders, as well as receives payments from stockholders in the form of cash and/or out-of-pocket expenditures for the benefit of the Company, which are business in nature. The balance of advances to stockholder as of September 30, 2016 and December 31, 2015 was $-0- and $11,321, respectively. Amounts accrued, but not yet paid as due to related party at September 30, 2016 and December 31, 2015 was $25,000 and $25,000, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 10. COMMITMENTS AND CONTINGENCIES Litigation There are no pending, threatened or actual legal proceedings in which the Company or any subsidiary is a party. |
Summary of Significant Accoun15
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Summary of Significant Accounting Policies [Abstract] | |
Going Concern | Going Concern Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company has not generated significant revenues from its principal operations, and there is no assurance of future revenues. As of September 30, 2016, the Company had an accumulated deficit of $3,335,105. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required. The Company’s activities will necessitate significant uses of working capital beyond September 30, 2016. Additionally, the Company’s capital requirements will depend on many factors, including the success of the Company’s continued research and development efforts and the status of competitive products. The Company plans to continue financing its operations with cash received from financing activities. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. |
Use of Estimates | Use of Estimates In preparing these audited financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company monitors the market conditions and evaluates the fair value hierarchy levels at least quarterly. For any transfers in and out of the levels of the fair value hierarchy, the Company elects to disclose the fair value measurement at the beginning of the reporting period during which the transfer occurred. The Company's financial instruments consisted of cash, accounts payable and accrued liabilities, advances to stockholders, notes payable and convertible debt. The estimated fair value of cash, accounts payable and accrued liabilities, advances to stockholders, and notes payable approximates its carrying amount due to the short maturity of these instruments. The recognition of the derivative values of convertible debt are based on the weighted-average Black-Scholes option pricing model. |
Revenue recognition | Revenue recognition The Company recognizes its revenue in accordance with ASC Topic 605, “ Revenue Recognition |
Cash | Cash The Company considers all highly-liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of September 30, 2016 and December 31, 2015, respectively. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions. From time to time, the Company may maintain cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. The Company has not incurred any loss from this risk. |
Property and Equipment | Property and Equipment Property and equipment is stated at cost. Capital expenditures for improvements and upgrades to existing equipment are also capitalized. Maintenance and repairs are expensed as incurred. The equipment is depreciated over 10 years on a straight-line basis. Depreciation expense for the nine months ended September 30, 2016 and 2015 was $9,942 and $7,604, respectively. |
Derivatives and Hedging | Derivatives and Hedging In April 2008, the FASB issued a pronouncement that provides guidance on determining what types of instruments or embedded features in an instrument held by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in the pronouncement on accounting for derivatives. This pronouncement was effective for financial statements issued for fiscal years beginning after December 15, 2008. The adoption of these requirements can affect the accounting for many convertible instruments with provisions that protect holders from a decline in the stock price. Each reporting period, the Company evaluates whether convertible debt to acquire stock of the Company contain provisions that protect holders from declines in the stock price or otherwise could result in modification of the exercise price under the respective convertible debt agreements. The Company determined that the conversion features in the convertible notes issued during the second, third, and fourth quarters of 2014, contained such provisions and recorded such instruments as derivative liabilities. |
Long-Lived Assets | Long-Lived Assets In accordance with ASC 350-30 (formerly SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets |
Income Taxes | Income Taxes As a result of the implementation of certain provisions of ASC 740, Income Taxes Accounting for Uncertainty in Income Taxes – An Interpretation of FASB Statement No. 109), In 2010, the Company adopted Accounting for Uncertain Income Taxes under the provisions of ASC 740. ASC 740 clarifies the accounting for income taxes by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. It also provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company did not recognize any additional liability for unrecognized tax benefits as a result of the adoption of ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material change to its financial position. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to ASC 740. In addition, we did not record a cumulative effect adjustment related to the adoption of ASC 740. The Company’s policy for recording interest and penalties associated with income-based tax audits is to record such items as a component of income taxes. The Company’s tax provision is determined using an estimate of its annual effective tax rate using enacted tax rates expected to apply to taxable income in the years in which they are earned, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, we make a cumulative adjustment. Income taxes payable as of September 30, 2016 and December 31, 2015 were $500 and $500, respectively. |
Loss per Common Share | Loss per Common Share Basic loss per common share excludes dilutive securities and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company has only incurred losses, basic and diluted loss per share is the same. As of September 30, 2016 and December 31, 2015, there were no outstanding dilutive securities. The following table represents the computation of basic and diluted losses per share: Nine months ended September 30, 2016 Nine months ended September 30, 2015 Three months ended September 30, 2016 Three months ended September 30, 2015 (Income) Loss available for common shareholder $ (145,388 ) $ (482,514 ) $ (20,904 ) $ (204,622 ) Basic and fully diluted loss per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) Weighted average common shares outstanding - basic and diluted 1,527,930,584 822,683,837 1,513,928,759 1,287,787,652 Net loss per share is based upon the weighted average shares of common stock outstanding. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements There are no recently issued accounting pronouncements that the Company has yet to adopt that are expected to have a material effect on its financial position results of operations, or cash flows. |
Summary of Significant Accoun16
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of computation of basic and diluted losses per share | Nine months ended September 30, 2016 Nine months ended September 30, 2015 Three months ended September 30, 2016 Three months ended September 30, 2015 (Income) Loss available for common shareholder $ (145,388 ) $ (482,514 ) $ (20,904 ) $ (204,622 ) Basic and fully diluted loss per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) Weighted average common shares outstanding - basic and diluted 1,527,930,584 822,683,837 1,513,928,759 1,287,787,652 |
Property and Equipment - Net (T
Property and Equipment - Net (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Property and Equipment - Net [Abstract] | |
Summary of equipment | September 30, December 31, 2016 2015 Machinery and equipment $ 171,043 $ 171,043 Less impairment of equipment (38,484 ) (38,484 ) 132,559 132,559 Less accumulated depreciation (63,470 ) (53,528 ) Total Property and Equipment $ 69,089 $ 79,031 |
Related Party - Promissory No18
Related Party - Promissory Note (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Aggregate amount of $10,000 [Member] | |
Related Party Transaction [Line Items] | |
Schedule of related party demand notes payable | Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 6,000 7 % $ 1,710 $ 1,395 9/4/2018 Promissory note 2 $ 2,000 7 % $ 559 $ 454 10/1/2017 Promissory note 3 $ 2,000 7 % $ 535 $ 430 12/3/2017 Total $ 10,000 $ 2,804 $ 2,279 |
Aggregate amount of $ 331,101 [Member] | |
Related Party Transaction [Line Items] | |
Schedule of related party demand notes payable | Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 5,000 7 % $ 1,434 $ 1,171 7/25/2018 Promissory note 2 $ 11,000 7 % $ 3,034 $ 2,456 10/22/2017 Promissory note 3 $ 15,000 7 % $ 4,042 $ 3,254 11/24/2017 Promissory note 4 $ 102 7 % $ 28 $ 23 10/22/2017 Promissory note 5 $ 879 7 % $ 237 $ 191 11/24/2017 Promissory note 6 $ 973 7 % $ 279 $ 228 7/25/2018 Promissory note 7 $ 22,147 7 % $ 3,914 $ 2,750 5/4/2017 Promissory note 8 $ 7,000 7 % $ 886 $ 518 12/11/2016 Promissory note 9 $ 6,000 7 % $ 747 $ 432 12/22/2016 Promissory note 10 $ 25,000 7 % $ 3,030 $ 1,716 1/8/2017 Promissory note 11 $ 35,000 7 % $ 4,054 $ 2,215 2/5/2017 Promissory note 12 $ 40,000 7 % $ 4,158 $ 2,056 4/8/2017 Promissory note 13 $ 30,000 7 % $ 2,963 $ 1,387 5/5/2017 Promissory note 14 $ 45,000 7 % $ 4,013 $ 1,648 6/24/2017 Promissory note 15 $ 25,000 7 % $ 2,066 $ 753 7/28/2017 Promissory note 16 $ 15,000 7 % $ 1,174 $ 385 8/20/2017 Promissory note 17 $ 13,000 7 % $ 937 $ 254 9/21/2017 Promissory note 18 $ 5,000 7 % $ 351 $ 88 10/13/2017 Promissory note 19 $ 10,000 7 % $ 646 $ 121 10/30/2017 Promissory note 20 $ 3,000 7 % $ 167 $ 10 12/15/2017 Promissory note 21 $ 17,000 7 % $ 949 $ 55 12/15/2017 Total $ 331,101 $ 39,109 $ 21,711 |
Aggregate amount of $9,409 [Member] | |
Related Party Transaction [Line Items] | |
Schedule of related party demand notes payable | Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 234 7 % $ 62 $ 50 12/5/2017 Promissory note 2 $ 170 7 % $ 46 $ 37 11/18/2017 Promissory note 3 $ 4,100 7 % $ 1,048 $ 833 2/5/2018 Promissory note 4 $ 2,000 7 % $ 511 $ 405 2/7/2018 Promissory note 5 $ 1,780 7 % $ 63 $ - 3/29/2018 Promissory note 6 $ 1,125 7 % $ 20 $ - 6/30/2018 Total $ 9,409 $ 1,750 $ 1,325 |
Aggregate amount of $18,000 [Member] | |
Related Party Transaction [Line Items] | |
Schedule of related party demand notes payable | Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 10,000 7 % $ 2,526 $ 2,000 2/21/2018 Promissory note 2 $ 8,000 7 % $ 1,982 $ 1,562 3/18/2018 Total $ 18,000 $ 4,508 $ 3,562 |
Aggregate amount of $32,300 [Member] | |
Related Party Transaction [Line Items] | |
Schedule of related party demand notes payable | Note Principal Rate Accrued interest Maturity 9/30/16 12/31/15 Promissory note 1 $ 6,000 7 % $ 906 $ 590 8/6/2018 Promissory note 2 $ 2,500 7 % $ 130 $ - 1/4/2018 Promissory note 3 $ 4,200 7 % $ 168 $ - 2/5/2018 Promissory note 4 $ 3,000 7 % $ 112 $ - 3/20/2018 Promissory note 5 $ 11,500 7 % $ 203 $ - 6/30/2018 Promissory note 6 $ 5,100 7 % $ 53 $ - 8/8/2018 Total $ 32,300 $ 1,571 $ 590 |
Organization (Details)
Organization (Details) - $ / shares | Dec. 13, 2010 | Jan. 26, 2015 | Dec. 31, 2014 | Sep. 30, 2016 | Dec. 31, 2015 |
Organization (Textual) | |||||
Common stock, par value | $ 0.0001 | $ 0.0001 | |||
Common Stock [Member] | |||||
Organization (Textual) | |||||
Increase in authorized capital stock | 300,000,000 | 2,020,000,000 | 550,000,000 | ||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Common stock, shares authorized | 2,000,000,000 | ||||
Number of shares right to receive in exchange | 7,520 | ||||
Number of shares issued to the holders of Powerdyne, Inc. | 188,000,000 | ||||
Preferred Stock [Member] | |||||
Organization (Textual) | |||||
Preferred stock, par value | $ 0.0001 | ||||
Preferred stock, shares | 20,000,000 |
Summary of Significant Accoun20
Summary of Significant Accounting Policies (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Summary of computation of basic and diluted losses per share | ||||
(Income) Loss available for common shareholder | $ (20,904) | $ (204,622) | $ (145,388) | $ (482,514) |
Basic and fully diluted loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average common shares outstanding - basic and diluted | 1,513,928,759 | 1,287,787,652 | 1,527,930,584 | 822,683,837 |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Summary of Significant Accounting Policies (Textual) | |||
Accumulated deficit | $ (3,335,105) | $ (3,189,717) | |
Depreciation expense | 9,942 | $ 7,604 | |
Income tax payable | $ 500 | $ 500 | |
Outstanding dilutive securities | |||
Equipment [Member] | |||
Summary of Significant Accounting Policies (Textual) | |||
Estimated useful life | 10 years |
Property and Equipment - Net (D
Property and Equipment - Net (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Property and Equipment | ||
Machinery and equipment | $ 171,043 | $ 171,043 |
Less impairment of equipment | (38,484) | (38,484) |
Equipment, gross | 132,559 | 132,559 |
Less accumulated depreciation | (63,470) | (53,528) |
Total Property and Equipment | $ 69,089 | $ 79,031 |
Property and Equipment - Net 23
Property and Equipment - Net (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Property and equipment net (Textual) | ||
Depreciation expense | $ 9,942 | $ 7,604 |
Machinery and equipment [Member] | ||
Property and equipment net (Textual) | ||
Estimated useful life | 10 years |
Common Stock (Details)
Common Stock (Details) - USD ($) | Jan. 25, 2016 | Jan. 19, 2016 |
Consultants [Member] | ||
Common Stock (Textual) | ||
Number of shares of common stock issued for services | 3,000,000 | |
Per share value of stock issued for services | $ 0.0003 | |
Stock issued for services, Value | $ 900 | |
Consultant One [Member] | ||
Common Stock (Textual) | ||
Number of shares of common stock issued for services | 500,000 | |
Per share value of stock issued for services | $ 0.0003 | |
Stock issued for services, Value | $ 150 | |
Consultant Two [Member] | ||
Common Stock (Textual) | ||
Number of shares of common stock issued for services | 40,000,000 | |
Per share value of stock issued for services | $ 0.0002 | |
Stock issued for services, Value | $ 8,000 | |
Stockholder [Member] | ||
Common Stock (Textual) | ||
Number of shares of common stock issued for services | 30,000,000 | |
Per share value of stock issued for services | $ 0.0002 | |
Stock issued for services, Value | $ 6,000 | |
Stockholder One [Member] | ||
Common Stock (Textual) | ||
Number of shares of common stock issued for services | 75,000,000 | |
Per share value of stock issued for services | $ 0.0002 | |
Stock issued for services, Value | $ 15,000 |
Related Party - Promissory No25
Related Party - Promissory Note (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Schedule of demand notes payable | ||
Principal | $ 263,147 | $ 371,605 |
Aggregate amount of $10,000 [Member] | ||
Schedule of demand notes payable | ||
Principal | 10,000 | |
Accrued interest | 2,804 | 2,279 |
Promissory note 1 [Member] | Aggregate amount of $10,000 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 6,000 | |
Rate | 7.00% | |
Accrued interest | $ 1,710 | 1,395 |
Maturity | Apr. 9, 2018 | |
Promissory note 2 [Member] | Aggregate amount of $10,000 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 2,000 | |
Rate | 7.00% | |
Accrued interest | $ 559 | 454 |
Maturity | Oct. 1, 2017 | |
Promissory note 3 [Member] | Aggregate amount of $10,000 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 2,000 | |
Rate | 7.00% | |
Accrued interest | $ 535 | $ 430 |
Maturity | Dec. 3, 2017 |
Related Party - Promissory No26
Related Party - Promissory Note (Details 1) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Schedule of demand notes payable | ||
Principal | $ 263,147 | $ 371,605 |
Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | 331,101 | |
Accrued interest | 39,109 | 21,711 |
Promissory note 1 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 5,000 | |
Rate | 7.00% | |
Accrued interest | $ 1,434 | 1,171 |
Maturity | Jul. 25, 2018 | |
Promissory note 2 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 11,000 | |
Rate | 7.00% | |
Accrued interest | $ 3,034 | 2,456 |
Maturity | Oct. 22, 2017 | |
Promissory note 3 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 15,000 | |
Rate | 7.00% | |
Accrued interest | $ 4,042 | 3,254 |
Maturity | Nov. 24, 2017 | |
Promissory note 4 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 102 | |
Rate | 7.00% | |
Accrued interest | $ 28 | 23 |
Maturity | Oct. 22, 2017 | |
Promissory note 5 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 879 | |
Rate | 7.00% | |
Accrued interest | $ 237 | 191 |
Maturity | Nov. 24, 2017 | |
Promissory note 6 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 973 | |
Rate | 7.00% | |
Accrued interest | $ 279 | 228 |
Maturity | Jul. 25, 2018 | |
Promissory note 7 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 22,147 | |
Rate | 7.00% | |
Accrued interest | $ 3,914 | 2,750 |
Maturity | May 4, 2017 | |
Promissory note 8 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 7,000 | |
Rate | 7.00% | |
Accrued interest | $ 886 | 518 |
Maturity | Dec. 11, 2016 | |
Promissory note 9 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 6,000 | |
Rate | 7.00% | |
Accrued interest | $ 747 | 432 |
Maturity | Dec. 22, 2016 | |
Promissory note 10 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 25,000 | |
Rate | 7.00% | |
Accrued interest | $ 3,030 | 1,716 |
Maturity | Jan. 8, 2017 | |
Promissory note 11 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 35,000 | |
Rate | 7.00% | |
Accrued interest | $ 4,054 | 2,215 |
Maturity | Feb. 5, 2017 | |
Promissory note 12 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 40,000 | |
Rate | 7.00% | |
Accrued interest | $ 4,158 | 2,056 |
Maturity | Apr. 8, 2017 | |
Promissory note 13 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 30,000 | |
Rate | 7.00% | |
Accrued interest | $ 2,963 | 1,387 |
Maturity | May 5, 2017 | |
Promissory note 14 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 45,000 | |
Rate | 7.00% | |
Accrued interest | $ 4,013 | 1,648 |
Maturity | Jun. 24, 2017 | |
Promissory note 15 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 25,000 | |
Rate | 7.00% | |
Accrued interest | $ 2,066 | 753 |
Maturity | Jul. 28, 2017 | |
Promissory note 16 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 15,000 | |
Rate | 7.00% | |
Accrued interest | $ 1,174 | 385 |
Maturity | Aug. 20, 2017 | |
Promissory note 17 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 13,000 | |
Rate | 7.00% | |
Accrued interest | $ 937 | 254 |
Maturity | Sep. 21, 2017 | |
Promissory note 18 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 5,000 | |
Rate | 7.00% | |
Accrued interest | $ 351 | 88 |
Maturity | Oct. 13, 2017 | |
Promissory note 19 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 10,000 | |
Rate | 7.00% | |
Accrued interest | $ 646 | 121 |
Maturity | Oct. 30, 2017 | |
Promissory note 20 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 3,000 | |
Rate | 7.00% | |
Accrued interest | $ 167 | 10 |
Maturity | Dec. 15, 2017 | |
Promissory note 21 [Member] | Aggregate amount of $ 331,101 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 17,000 | |
Rate | 7.00% | |
Accrued interest | $ 949 | $ 55 |
Maturity | Dec. 15, 2017 |
Related Party - Promissory No27
Related Party - Promissory Note (Details 2) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Schedule of demand notes payable | ||
Principal | $ 263,147 | $ 371,605 |
Aggregate amount of $9,409 [Member] | ||
Schedule of demand notes payable | ||
Principal | 9,409 | |
Accrued interest | 1,750 | 1,325 |
Promissory note 1 [Member] | Aggregate amount of $9,409 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 234 | |
Rate | 7.00% | |
Accrued interest | $ 62 | 50 |
Maturity | Dec. 5, 2017 | |
Promissory note 2 [Member] | Aggregate amount of $9,409 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 170 | |
Rate | 7.00% | |
Accrued interest | $ 46 | 37 |
Maturity | Nov. 18, 2017 | |
Promissory note 3 [Member] | Aggregate amount of $9,409 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 4,100 | |
Rate | 7.00% | |
Accrued interest | $ 1,048 | 833 |
Maturity | Feb. 5, 2018 | |
Promissory note 4 [Member] | Aggregate amount of $9,409 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 2,000 | |
Rate | 7.00% | |
Accrued interest | $ 511 | 405 |
Maturity | Feb. 7, 2018 | |
Promissory note 5 [Member] | Aggregate amount of $9,409 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 1,780 | |
Rate | 7.00% | |
Accrued interest | $ 63 | |
Maturity | Mar. 29, 2018 | |
Promissory note 6 [Member] | Aggregate amount of $9,409 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 1,125 | |
Rate | 7.00% | |
Accrued interest | $ 20 | |
Maturity | Jun. 30, 2018 |
Related Party - Promissory No28
Related Party - Promissory Note (Details 3) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Schedule of demand notes payable | ||
Principal | $ 263,147 | $ 371,605 |
Aggregate amount of $18,000 [Member] | ||
Schedule of demand notes payable | ||
Principal | 18,000 | |
Accrued interest | 4,508 | 3,562 |
Promissory note 1 [Member] | Aggregate amount of $18,000 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 10,000 | |
Rate | 7.00% | |
Accrued interest | $ 2,526 | 2,000 |
Maturity | Feb. 21, 2018 | |
Promissory note 2 [Member] | Aggregate amount of $18,000 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 8,000 | |
Rate | 7.00% | |
Accrued interest | $ 1,982 | $ 1,562 |
Maturity | Mar. 18, 2018 |
Related Party - Promissory No29
Related Party - Promissory Note (Details 4) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Schedule of demand notes payable | ||
Principal | $ 263,147 | $ 371,605 |
Aggregate amount of $32,300 [Member] | ||
Schedule of demand notes payable | ||
Principal | 32,300 | |
Accrued interest | 1,571 | 590 |
Promissory note 1 [Member] | Aggregate amount of $32,300 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 6,000 | |
Rate | 7.00% | |
Accrued interest | $ 906 | 590 |
Maturity | Aug. 6, 2016 | |
Promissory note 2 [Member] | Aggregate amount of $32,300 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 2,500 | |
Rate | 7.00% | |
Accrued interest | $ 130 | |
Maturity | Jan. 4, 2018 | |
Promissory note 3 [Member] | Aggregate amount of $32,300 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 4,200 | |
Rate | 7.00% | |
Accrued interest | $ 168 | |
Maturity | Feb. 5, 2018 | |
Promissory note 4 [Member] | Aggregate amount of $32,300 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 3,000 | |
Rate | 7.00% | |
Accrued interest | $ 112 | |
Maturity | Mar. 20, 2018 | |
Promissory note 5 [Member] | Aggregate amount of $32,300 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 11,500 | |
Rate | 7.00% | |
Accrued interest | $ 203 | |
Maturity | Jun. 30, 2018 | |
Promissory note 6 [Member] | Aggregate amount of $32,300 [Member] | ||
Schedule of demand notes payable | ||
Principal | $ 5,100 | |
Rate | 7.00% | |
Accrued interest | $ 53 | |
Maturity | Aug. 8, 2018 |
Related Party - Promissory No30
Related Party - Promissory Note (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Sep. 30, 2016USD ($)Notes | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($)Notes | Jun. 30, 2016USD ($)Notes | Mar. 31, 2016USD ($)Notes | Dec. 31, 2015USD ($) | Mar. 31, 2013USD ($)Notes | |
Related Party (Textual) | ||||||||||
Proceeds from Notes payable | $ 26,500 | |||||||||
Amounts accrued, but not yet paid as due to related party | 25,000 | $ 25,000 | ||||||||
Total interest accrued on related party loans | 49,742 | 29,467 | ||||||||
Advances to stockholder | 11,321 | |||||||||
Notes payable to related parties | 263,147 | $ 371,605 | ||||||||
Borrowings from related party | 29,205 | $ 228,000 | ||||||||
Aggregate amount of $10,000 [Member] | ||||||||||
Related Party (Textual) | ||||||||||
Repayment of principal amount | $ 700 | $ 1,199 | $ 453 | |||||||
Notes payable to related parties | $ 10,000 | |||||||||
Number of demand notes payable | Notes | 3 | |||||||||
Notes bear an interest rate | 7.00% | |||||||||
Aggregate amount of $ 331,101 [Member] | ||||||||||
Related Party (Textual) | ||||||||||
Notes payable to related parties | $ 331,101 | |||||||||
Number of demand notes payable | Notes | 8 | |||||||||
Notes bear an interest rate | 7.00% | |||||||||
Borrowings from related party | $ 53,000 | $ 115,000 | $ 60,000 | |||||||
Aggregate amount of $ 331,101 [Member] | Note Payable [Member] | ||||||||||
Related Party (Textual) | ||||||||||
Notes payable to related parties | $ 70,953 | |||||||||
Number of demand notes payable | Notes | 9 | |||||||||
Aggregate amount of $6,504 [Member] | ||||||||||
Related Party (Textual) | ||||||||||
Notes payable to related parties | $ 1,125 | $ 1,780 | $ 6,504 | |||||||
Number of demand notes payable | Notes | 1 | 1 | 4 | |||||||
Notes bear an interest rate | 7.00% | |||||||||
Aggregate amount of $18,000 [Member] | ||||||||||
Related Party (Textual) | ||||||||||
Notes payable to related parties | $ 18,000 | |||||||||
Number of demand notes payable | Notes | 2 | |||||||||
Notes bear an interest rate | 7.00% | |||||||||
Aggregate amount of $6,000 [Member] | ||||||||||
Related Party (Textual) | ||||||||||
Notes payable to related parties | $ 5,100 | $ 6,000 | $ 11,500 | $ 9,700 | ||||||
Number of demand notes payable | Notes | 1 | 1 | 1 | 3 | ||||||
Notes bear an interest rate | 7.00% | |||||||||
Financing from Related Parties [Member] | ||||||||||
Related Party (Textual) | ||||||||||
Amounts accrued, but not yet paid as due to related party | $ 39,109 | |||||||||
Shot term debt from related party, percentage | 82.61% |