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Secured Promissory Notes
 9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Secured Promissory Notes

NOTE 5 – SECURED PROMISSORY NOTES

 

Secured notes payable consists of the following at periods ended:

 

    As of
September 30, 2018		     As of
December 31, 2017		  
             
Secured Promissory Note -$100,000 in August 10, 2016 bearing interest of 12% per annum compounded annually, together with a five-year warrant to purchase up to one million shares of the Company’s common stock at an exercise price of $0.12 per share, and payable upon maturity in 2021 and secured by a security interest in substantially all of the assets of the Company and its subsidiaries.   $ 126,386     $ 115,802  
                 
Total     126,386       115,802  
Less: current portion     -       -  
Secured promissory notes   $ 126,386     $ 115,802  

 

Continuity of Secured Promissory Notes   As of
September 30, 2018		     As of
December 31, 2017		  
Face value of August 10, 2016 secured note payable   $ 100,000     $ 100,000  
Total face value of promissory notes payable     100,000       100,000  
Discount on August 10, 2016 secured notes payable (100,000 warrants)     (2,000 )     (2,000 )
Accretion of discount on secured notes payable ($100,000 secured note payable)     833       533  
Interest on secured notes payable     27,553       17,269  
Carrying value of Secured Promissory Notes   $ 126,386     $ 115,802  

 

The following annual payments of principal and interest are required over the next five years in respect to these secured notes payable:

 

Years Ending December 31,     Annual Payments  
2017     $ -  
2018       -  
2019       -  
2020       -  
2021       126,386  
Total     $ 126,386