STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

STOCKHOLDERS' EQUITY

10 STOCKHOLDERS’ EQUITY

a) Common Stock

On March 5, 2018, in terms of an amendment to the Company’s Articles of Association, the authorized share capital was increased to 500,000,000 common shares with a par value of $0.001 each.

The company has authorized 500,000,000 common shares with a par value of $0.0001 each. The Company has issued and outstanding 77,223,966 and 56,207,424 shares of common stock as of March 31, 2018 and December 31, 2017.

In terms of various debt conversion notices received between January 17, 2018 and March 13, 2018, the Company issued an aggregate of 23,675,144 shares of common stock in settlement of $1,778,522 of convertible notes, resulting in a net loss on conversion of $2,477,791.

b) Preferred Stock

The Company has authorized 25,000,000 shares of preferred stock with a par value of $0.0001 authorized, no preferred stock is issued and outstanding as of March 31, 2018.

c) Warrants

The warrants outstanding and exercisable at March 31, 2018 are as follows:

	Warrants outstanding						Warrants exercisable
Exercise price	No. of shares		Weighted average remaining years		Weighted average exercise price		No. of shares		Weighted average exercise price
$0.625		6,219,200		2.51				6,219,200
$0.20		2,308,513		2.25				2,308,513
		8,527,713		2.44	$	0.51		8,527,713	$	0.51

The warrants outstanding have an intrinsic value of $0 and $0 as of March 31, 2018 and December 31, 2017, respectively.