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RELATED PARTY LOANS
3 Months Ended
Mar. 31, 2018
Related Party Transactions [Abstract]  
RELATED PARTY LOANS

NOTE 6 RELATED PARTY LOANS: according to ASC 850, an entity and its principal owners and members of their immediate families are considered related parties.

Convertible Notes Payable

On February 21, 2018 Crown Bridge Partners LLC, sold part of its potentially dilutive convertible advance to D&D Capital, Inc, a related party. Accrued interest related to this advance was $3 86 and $0 at March 31, 2018 and December 31, 2017 respectively, and is included in accrued interest on the Balance Sheets. Face value balance as of March 31, 2018 is $40,000. The Company valued this conversion feature using the Black Scholes valuation model with the following assumptions: (i) as of March 31, 2018 dividend yield of zero, 321 days term to maturity, risk free interest rate of 2.09% and annualized volatility of 61.32%, valued at $27,334. The value of the conversion feature was assigned to the derivative liability and created a debt discount to be amortized over the life of the convertible debt.

During the three months ended March 31, 2018, Kodiak Capital declared a default of the note payable to them invoking 22% retroactive interest and also put into effect a penalty of $2,000 per day for non-delivery of conversion for the shares according to the note agreement, which led to increasing the balance of the note to $142,633 (including $2,630 accrued interest on the Kodiak note) at March 31, 2018. On February 15, 2018, S&E Capital, LLC, a related party to Mining Power Group Inc., reached an agreement with Kodiak Capital to purchase the note. The Company valued this conversion feature using the Black Scholes valuation model with the following assumptions: (i) as of March 31, 2018 dividend yield of zero, 365 days term to maturity, risk free interest rate of 1.99% and annualized volatility of 36.38%, valued at $155,553. The value of the conversion feature was assigned to the derivative liability and created a debt discount to be amortized over the life of the convertible debt.

Other Loans

During the three months ended March 31, 2018, Mining Power borrowed $38,401 from Consultant Capital Group Inc. in a form of related party loan that bears no interest and due on demand.