Stockholders' Deficit

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Stockholders' Deficit

Note 8 - Stockholders’ Deficit

In January 2016, the Company increased the number of authorized shares of common stock from 100,000,000 to 5,000,000,000 and the number of shares of its preferred stock from 10,000,000 to 50,000,000, the rights and preferences of which to be determined by the Board of Directors.

Issuance of Preferred Stock

In June 2016, the Company issued 5,000,000 of Preferred A shares and 1,000,000 of Preferred B shares to Mr. Tarek Kirschen, former Chief Executive Officer, as settlement for advances made by him to the Company during the period ended June 30, 2016 amounting to $354,000 and accrued payroll of $85,000 for a total of $439,000. The Preferred A shares is entitled to 100 votes per 1 share with no dividend rights and is not convertible to common shares. The Preferred B shares is convertible to 2 common shares per 1 preferred share and is entitled to 1 vote per 1 share with no dividend rights.

Concurrent with the settlement, Mr. Kirschen sold the 5 million Preferred A shares issued to him to an unrelated individual, Mr. David Cohen, for $150,000. As a result of this sale, Mr. Cohen gained control of the Company and became its Chief Executive Officer.

Common Shares Issued for Conversion of Notes Payable

During the six months ended June 30, 2016, the Company issued 230,416,166 common shares upon conversion of convertible notes, accrued interest and convertible notes – related party in the aggregate of $100,000.

Summary of the Company’s Stock Warrant Activities

The following table summarizes information concerning outstanding and exercisable warrants as of June 30, 2016:

	Warrants		Weighted Average Price
January 1, 2016	$	2,952,600	$	0.08
Granted		-
Exercised		-		-
Forfeited		-		-
June 30, 2016		2,952,600	$	0.08