Current Portion - Convertible Debt - Related and Unrelated Parties (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Summary of Carrying Value of Convertible Debt

The following is a summary of current portion - convertible debt - related and unrelated parties as of December 31, 2018 and December 31, 2017:

		2018		2017
Face value of notes – related party	(a)	$	95,000	$	50,000
Face value of notes – unrelated parties	(a)		98,077		118,077
Excess of the fair value of shares issuable over the face value of the convertible notes	(a)		48,257		42,007
Unamortized discount	(a)		-		(10,127	)
		$	241,334	$	199,957

(a) In connection with the reverse merger in July 2017, the Company and two stockholders, who had provided related party advances to the Company, agreed to exchange their related party advances for 6% Convertible Promissory Notes that were originally due on January 15, 2018 (the “Notes”) in the amount of $68,077. From August 2017 through November 2017, the Company issued additional notes to four different parties (two of which were related parties) in the principal amount of $100,000 ($70,000 to related parties). In January 2018, the holders of the Notes agreed to extend the maturity to April 30, 2018, and in April 2018, agreed to further extend the maturity of certain notes to June or July 2018. During the year ended December 31, 2018, the maturity of the notes were further extended to March 31, 2019. The Notes bear simple interest at 6% unless the Company defaults, which increases the interest rate to 10%. The Holders, at their option, can elect to convert the principal plus any accrued interest, into shares of the Company’s common stock at a conversion rate equal to eighty percent (80%) of the average closing share price as quoted on the OTC Markets for the five (5) trading days prior to the date of conversion.