Commitments and Contingencies

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 11. Commitments and Contingencies

Material Definitive Agreement

Issuance of Series E Preferred Stock for outstanding shares of Omni Shrimp, Inc.

On June 23, 2016 (the "Effective Date"), all of the shareholders of Omni entered into a Share Exchange Agreement (the "Exchange Agreement") with NaturalNano, Inc. (OTC PK: NNAN) , pursuant to which the shareholders exchanged with the Company all of the outstanding shares of stock of Omni and Omni thereupon became a wholly owned subsidiary of NNAN. In consideration for the exchange of those OMNI shares, the Company issued 28,500 shares of a newly created Series E Preferred Stock of NNAN(the "Series E Preferred Stock").

The transaction closed on June 23, 2016.

Assumption of Liabilities upon Acquisition

Pursuant to the Share Exchange Agreement, the Company accepted the following liabilities:

Debt from the Surrender and Exchange Agreement	$	1,430,005	(See Note 6: Convertible Notes Payable)
Debt owed to Cape One Master Fund II, LP		344,000	(See Note 6: Convertible Notes Payable)
Derivative Liability		618,833
Accrued Wages		343,720
Accounts Payable		103,254
Accrued interest		28,563
Impariment of Acquisition	$	2,868,374