v3.6.0.2

Derivative Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure Text Block [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The Company recognized that the conversion feature embedded within its convertible debts is a financial derivative. The Generally Accepted Accounting Principles (GAAP) required that the Company’s embedded conversion option be accounted for at fair value. The following schedule shows the change in fair value of the derivative liabilities by September 30, 2016:

Description		Amount
Derivative liabilities - December 31, 2015		$	-0-
Add fair value at the commitment date for convertible notes issued during the current year			743,467
Fair value mark to market adjustment for derivatives from the first quarter			(344,451	)
Reduce fair value due to conversions			(23,141	)
Derivative liabilities - September 30, 2016			375,875
Less: current portion			332,517
Long-term derivative liabilities		$	43,358

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

Derivative liabilities incurred during the period ended September 30, 2016 were valued based upon the following assumptions and key inputs:

		Commitment				Re-measurement
Assumption		Date				Date
Expected dividends:			0	%			0	%
Expected volatility:			679%-783	%			264%-660	%
Expected term (years):		1-2 years				0.34-1.72 years
Risk free interest rate:			0.51%-0.87	%			0.29%-0.73	%

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- References

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- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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