Annual report pursuant to Section 13 and 15(d)

Derivative Liabilities (Tables)

v3.7.0.1
Derivative Liabilities (Tables)
 12 Months Ended
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Conversion Feature Derivative Liability

    Conversion
feature
derivative
liability 		    Warrant
liability 		    Total  
Balance at January 1, 2015   $ -     $ -     $ -  
Recapitalization on February 19, 2015     -       4,936       4,936  
Convertible notes payable – December 28, 2015     550,001       -       550,001  
Change in fair value recorded in earnings     64,035       (581 )     63,454  
Balance at December 31, 2015     614,035       4,356       618,391  
                         
Change in fair value included in earnings     (422,974 )     (3,119 )     (426,093 )
Net effect on additional paid in capital     (191,062 )     -       (191,062 )
Balance at December 31, 2016   $ -     $ 1,237     $ 1,237  

Schedule of Assumptions for Fair Value of Convertible Instruments Granted Under Black-scholes Option Pricing Model

The Company used the following assumptions for determining the fair value of the convertible instruments granted under the Black-Scholes option pricing model:

 

    December 31, 2016     December 31, 2015  
Expected volatility     263.35 %     318 %
Expected term - years     0.35       1.36  
Risk-free interest rate     1.22 %     1.06 %
Expected dividend yield     - %     - %