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3. Adoption of ASU 2017-11
 9 Months Ended
Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]  
Adoption of ASU 2017-11

Note 3 – Adoption of ASU 2017-11

 

The Company changed its method of accounting for its convertible note through the adoption of ASU 2017-11 on January 1, 2019 on a modified retrospective basis. Accordingly, the outstanding derivative liability of $14,730 associated with a convertible note payable was eliminated as an adjustment to the beginning accumulated deficit. The following table provides a reconciliation of the derivative liability and accumulated deficit upon adoption on January 1 2019:

 

   Derivative
Liability		   Accumulated
Deficit		 
Balance January 1, 2019 (before adoption of ASU 2017-11)  $14,730   $(9,255,432)
Reclassified derivative liability and cumulative effect of adoption   (14,730)   14,730 
Balance January 1, 2019 (after adoption of ASU 2017-11)  $–   $(9,240,702)