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Related Party Transactions | 12 Months Ended
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Dec. 31, 2014
Related Party Transactions |
Related Party Transactions | NOTE 6 - RELATED PARTY TRANSACTIONS Notes Payable On February 1, 2013, the Company executed a convertible promissory note for $65,000 with Finiks Capital LLC. The note bears interest at a rate of 5% per annum, is unsecured and matures in two years. The loan is convertible at any time into shares of common stock at $0.0065 per share. The Company recorded a discount in the amount of $65,000 in connection with the initial valuation of the beneficial conversion feature of the note to be amortized utilizing the interest method of accretion over the term of the note. As a result of the conversion feature the Company has recorded a debt discount of $65,000, $27,318 of which had been amortized to interest expense as of December 31, 2013. On January 19, 2014, Finiks Capital transferred its rights to the $65,000 promissory note and $3,879 of accrued interest to Strategic IR, Inc. During the year ended December 31, 2014, Strategic IR, Inc. converted the $65,000 note payable it had assumed from Finiks Capital into 10,000,000 shares of common stock at $0.0065 per share per the terms of the original Note. The remaining discount was amortized in 2014. On January 27, 2014, the Company executed a convertible promissory note for $40,000 with Darren Magot, a member of the Board of Directors. The note includes a $2,500 loan origination fee, accrues interest at 8% and matures in 180 days. As of December 31, 2014 $3,000 has been repaid on the note and there is $2,983 of accrued interest. The note was reviewed for a beneficial conversion feature and it was determined that none existed as the fair market price of the stock was in excess of the conversion price on the date of the note. In addition, the note required the issuance of warrants to purchase 10,000,000 shares of common stock. The aggregate fair value of these warrants totaled $36,127 based on the Black Scholes Merton pricing model, which was recorded as a discount on the loan and amortized over the life of the loan. On October 6, 2014, the Company executed with its controlling shareholder, MCKEA Holdings, LLC a Convertible Promissory Note for $198,930 in exchange for the assignment and assumption of debt due from the Company and its subsidiary, Co-Signer.com, Inc. The debt includes a total of $110,803 due to third-party service suppliers and debt due to MCKEA for $88,127. The Note is secured by the issuance of 1,000,000 shares of Preferred Class B stock that has a non-diluting feature, and convertible into the Company’s shares of common stock, as consideration. On the same day the full $198,930 was converted into the 1,000,000 shares of Preferred Class B stock. As of December 31, 2014, the Company owed various employees and other related parties a total of $6,398 for expense reimbursement and short term loans. All amounts are non-secured, non-interest bearing and due on demand. Stock Issuances On January 11, 2014, the Company granted 5,350,000 shares of common stock to various employees and consultants. The shares were issued at $0.0383 based on the market value of the common stock on the date of authorization for total non-cash expense of $204,905. On January 2, 2014 and February 13, 2014, the Company issued 250,000 shares of common stock to a member of the Board of Directors and 1,000,000 shares of common stock to its CEO for services rendered, respectively. The shares were issued at $.028 and $0.04, respectively, based on the market value of the common stock on the date of authorization for total non-cash expense of $47,000. Revenue During the year ended December 31, 2014, the Company recognized total revenue of $190,863 from Avalanche International, Corp and its subsidiary Smith and Ramsay Brands, LLC. This accounts for approximately 58.6% of total revenue. MCKEA Holdings, LLC is the controlling shareholder of Cross Click Media, Inc. MCKEA Holdings, LLC is also the majority member of Philou Ventures, LLC, which is the controlling shareholder of Avalanche International, Corp. The Company also recognized revenue of $73,706 from Foundation for a Greater America, Inc. (“FFAGA”). The Chairman of the Board for FFAGA is married to the managing member of MCKEA Holdings, LLC and two directors of FFAGA are members of MCKEA Holdings, LLC, the controlling shareholder of CrossClick Media, Inc.

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