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Stockholders' Deficit
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Stockholders' Deficit

Note 9 – Stockholders’ Deficit

 

The total number of shares of all classes of capital stock which the Company is authorized to issue is 75,000,000 shares of common stock with $0.00001 par value. On July 30, 2014, the Company’s board of directors approved an increase of the Company’s authorized common stock from 75,000,000 to 300,000,000 shares. Such increase shall be subject to the approval of the Company’s shareholders prior to its implementation.

 

During the three months ended March 31, 2015, the Company issued 4,595,187 shares of its common stock upon exercise of the ST Warrant at an aggregate exercise price of $1.00 in connection with the Loan Agreement (see note1).

 

During the three months ended March 31, 2015, the Company issued 400,000 shares of its common stock to a note holder in a note conversion at $0.25 per share. At the time of conversion, the note was valued at $100,000 for outstanding principal.

 

As of March 31, 2015, there are 67,095,187 shares of the Company’s common stock issued and outstanding.