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Convertible Notes Payable and Notes Payable (Tables)
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Convertible Notes Payable

 

 

Issue Maturity   December 31,     Interest     Conversion  
Date Date   2015     Rate     Rate  
Convertible notes payable:                    
April 20, 2015 April 20, 2016   $ 38,000       6.00 %     0.00320  
September 18, 2015 March 18, 2016     25,000       6.00 %     0.00200  
Unamortized discounts       17,295                  
Balance     $ 45,705                  

 

Convertible notes payable – related party                    
July 14, 2015 January 14, 2016   $ 9,000       6.00 %     0.00300  
                           
Convertible notes payable, in default                          
 October 31, 2012 April 30, 2013   $ 8,000       6.00 %     0.0040  
July 16, 2012 July 30, 2013     5,000       6.00 %     0.0050  
November 20, 2012 May 20, 2013     50,000       6.00 %     0.0050  
January 19, 2013 July 30, 2013     5,000       6.00 %     0.0040  
February 11, 2013 August 11, 2013     9,000       6.00 %     0.0060  
September 25, 2013 March 25, 2014     10,000       6.00 %     0.0125  
August 28, 2009 November 1, 2009     4,300       10.00 %     0.0150  
April 7, 2010 November 7, 2010     70,000       6.00 %     0.0080  
November 12, 2010 November 7, 2011     40,000       6.00 %     0.0050  
October 4, 2013 April 4, 2014     50,000       6.00 %     0.0125  
October 30, 2013 October 30, 2014     50,000       6.00 %     0.0125  
May 15, 2014 November 15, 2014     40,000       6.00 %     0.0070  
October 13, 2014 April 13, 2015     25,000       6.00 %     0.0050  
June 29, 2015 December 29, 2015     25,000       6.00 %     0.0050  
Balance     $ 391,300                  
                           
Convertible notes payable - related party, in default                        
January 19, 2013 July 30, 2013   $ 15,000       6.00 %     0.0040  
January 9, 2009 January 9, 2010     10,000       10.00 %     0.0150  
January 25, 2010 January 25, 2011     6,000       6.00 %     0.0050  
January 18, 2012 July 18, 2012     50,000       8.00 %     0.0040  
July 26, 2013 January 26, 2014     10,000       6.00 %     0.0100  
January 17, 2014 July 17, 2014     31,500       6.00 %     0.0060  
May 27, 2014 November 27, 2014     7,000       6.00 %     0.0070  
July 21, 2014 January 25, 2015     17,000       6.00 %     0.0080  
October 16, 2014 April 16, 2015     21,000       6.00 %     0.0045  
Balance     $ 167,500                  

 

Aggregate allocation of Notes Payable

 

 

    2015     2014  
Face value of convertible notes payable   $ 63,000     $ 151,500  
                 
Beneficial conversion feature     (17,295 )     (29,212 )
                 
Carrying value   $ 45,705     $ 122,288  

Notes Payable

 

Issue Date

Maturity Date   2015     2014     Interest Rate  
Notes payable, in default –related parties:              
February 24, 2010 February 24, 2011   $ 7,500     $ 7,500       6.00 %
October 6, 2015 November 11, 2015     10,000       --       6.00 %
                           
      17,500       7,500          
Notes payable, in default:                        
June 23, 2011 August 23, 2011     25,000       25,000       6.00 %
April 27, 2011 April 27, 2012     5,000       5,000       6.00 %
        30,000       30,000          
                           
      $ 47,500     $ 37,500          

Summary of effect on earnings

 

 

Face value of the convertible notes payable   $ 137,000  
Interest expense to record the convertible notes at        
fair value on the date of issuance     93,479  
Interest income to mark to market the convertible notes on December 31, 2015     80,597  
December 31, 2015 fair value   $ 311,076