SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

16 SUBSEQUENT EVENTS

On July 10, 2017, the Company entered into a Convertible Promissory Note in the aggregate principal amount of $83,000. The Note has a maturity date of April 20, 2018 and a coupon of eight percent (8%) per annum. The Company has the right to prepay the Note, provided it makes a pre-payment penalty as specified in the Note. The outstanding principal amount of the Note is convertible at any time and from time to time at the election of the Holder into shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a conversion price equal to 58% of the average of the three (3) lowest trading bid prices during the previous ten (10) trading days to the date of conversion.

On July 26, 2017, the Company received a further advance of $109,165 from Strategic IR, the terms of this advance have not been determined as yet. The proceeds received from Strategic IR were used to repay the convertible note advanced by Labrys Fund, LP on July 26, 2017. The 150,000 shares of common stock issued to Labrys Fund as a commitment fee for the convertible loan advanced have been returned to the Company and have been cancelled.

Other than disclosed above, in accordance with ASC 855-10, the Company has analyzed its operations subsequent to June 30, 2017 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements.