7. STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 7 – STOCKHOLDERS’ EQUITY

Preferred Stock

At September 30, 2018 and December 31, 2017, the number of authorized shares of our preferred stock was 10,000,000. The par value of the preferred stock is $0.0001.

At September 30, 2018 and December 31, 2017, there is one share of Series A Preferred Stock outstanding.

Common Stock

As of January 1, 2018, the number of authorized shares of our common stock was 3,900,000,000. As of June 30, 2018 the number of authorized shares was increased to 8,000,000,000. The par value of the common stock is $0.0001.

During the 9 months ended September 30, 2017, we issued 50,000,000 unregistered restricted shares of common stock respectively to a funding source so that the funding source can pay for future expenses on our behalf. The shares are issued to the funding source to cover the amount of future expenses plus a fee of 15% of such future expenses. At the time of the future payment of the expenses incurred by us, the common stock and additional paid in capital are credited for the amount of the future payment plus 15%. During the period ending September 30, 2018, there is no accounting impact from this transaction because the shares remain in our possession.

During 2018, we issued 4,400,000 shares of common stock to a consultant of the Company. The shares were issued at fair market value of approximately $3,000 on the date of the issuance.

During 2018, we issued 353,351,835 shares of common stock to CEO Kevin Schewe as he converted loans into shares of common stock as allowed under an agreement he has with us as discussed in Note 5. During 2018, we issued 127,691,910 shares of common stock to Director Haris Basit as he converted loans into shares of common stock as allowed under an agreement he has with us as discussed in Note 5.

As of September 30, 2018, there were 3,887,958,192 shares of common stock issued and 3,787,958,192 shares of common stock outstanding.