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6. Issuance of Common Stock
 3 Months Ended
Mar. 31, 2017
Text Block [Abstract]  
6. Issuance of Common Stock

During the three months ended March 31, 2017, the Company issued a total of 48,428,125 shares of $0.001 par value Common Stock. Of these 42,428,125 shares valued at $128,451 were issued upon conversion of outstanding notes payable, reducing the debt by $48,500 and interest payable by $3,022 and generating a loss on conversion of $76,929.

 

In addition, the Company issued 6,000,000 shares of $0.001 par value Common Stock valued at $14,400 for $15,000 Canadian ($11,278 US). The $15,000 Canadian was paid directly to a firm which was engaged to conduct a valuation of the Company’s patents. The difference of $3,122 was recorded as a consulting expense.

 

In connection with its convertible notes payable, the Company has 204,918,033 shares of its common stock reserved for issuance at March 31, 2017.

 

The Company declared no dividends through March 31, 2017.