Notes Payable and Convertible Note

9 Months Ended

Oct. 31, 2016

Notes Payable and Convertible Note [Abstract]

NOTES PAYABLE AND CONVERTIBLE NOTE

NOTE 6: NOTES PAYABLE AND CONVERTIBLE NOTE

	Note 1			Note 2		Note 3		Total
Balance, January 31, 2016	$	232,450		$	-	$	-	$	232,450
Changes:
Converted to shares		(96,100	)		-		-		(96,100	)
Additions		-			229,180		14,930		244,110
Balance, October 31, 2016	$	136,350		$	229,180	$	14,930	$	380,460

Note 1:

On May 9, 2016 the Company issued 596,884 shares of common stock to an unrelated third party in respect to the assignment of the remaining balance of a convertible note in the principal amount of $96,100.   Upon assignment the conversion terms of the note were amended from $0.003 per share to a 40% discount to market based on the date immediately prior to the notice of conversion.  As a result, the shares were issued in full settlement of the principal value of the note at $0.161 per share.

As of October 31, 2016 an unsecured convertible promissory note in the remaining sum of $136,350 (January 31, 2016 - $232,450). The note bears interest at a rate of 6% per annum, is due January 31, 2017, and is convertible into the Company’s common stock at a rate of $0.003 per share.

As of October 31, 2016 and January 31, 2016, the Company has accrued $52,373 and $44,680, respectively, as interest on the convertible note payable

Note 2:

During the nine months ended October 31, 2016, the Company received an accumulated amount of $229,180 from a third party. The note bears interest at a rate of 1% per annum, and is due three months from issue date.

As of October 31, 2016, the Company has accrued $252, as interest on the convertible note payable. 

Note 3:

During the nine months ended October 31, 2016, the Company received an accumulated amount of $14,930 from a third party. The note bears interest at a rate of 1% per annum, and is due in three months from issue date.

As of October 31, 2016 the Company has accrued $66 as interest on the convertible note payable.