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Capital Stock
3 Months Ended
Mar. 31, 2015
Capital Stock [Abstract]  
CAPITAL STOCK

3. CAPITAL STOCK

 

During the three months ended March 31, 2015, the Company issued 2,923,624 shares of common stock for exercise of the purchase warrants in the amount of 2,923,624 for a price of $0.05 per share for cash in the amount of $146,181.

 

During the three months ended March 31, 2015, the Company issued 10,195,172 shares of common stock for the settlement of convertible promissory notes in an aggregate principal in the amount of $365,000, plus interest in the amount of $35,607, based upon conversion prices of $0.044 and $0.046.

 

During the three months ended March 31, 2015, the Company issued 4,350,721 shares of common stock for services at fair value of $334,395.

 

During the three months ended March 31, 2015, the Company issued 574,796 shares of common stock for supplemental shares based on an agreement entered into with the subscribers of the original subscription agreement. Under the terms of the supplemental agreement, if at any time within eighteen (18) months following the issuance of shares to the subscriber (the “Adjustment Period”) the market price (as defined below) of the Company's common stock is less than the price per share,  then the price per  share shall be reduced one time to the market price (the "Adjusted Price") such that the Company shall promptly issue additional shares of the Company's common stock to the Subscriber for no additional  consideration, in an amount sufficient that the aggregate purchase price, when divided by the total number of shares purchased thereunder plus those shares of common stock issued as a result of the dilutive Issuance will equal the adjusted price.  For the purposes hereof: the ''Market Price" shall mean the average closing price of the Company's common stock for any ten (10)  consecutive trading days during the Adjustment Period.