Subsequent Events |
12 Months Ended |
|---|---|
Dec. 31, 2016 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 20 – SUBSEQUENT EVENTS
In January 2017, Advanced Nanofibers LLC decreased from 24.875% to 23.88% due to the addition of a new member to Advanced Nanofibers LLC.
In February 2017, five separate individual investors were part of a private offering of securities. The purchase price was $0.01 per share of common stock, and the aggregate proceeds amounted to a total of $88,000, all of which was paid in cash, and 8,800,000 restricted shares of Company common stock were committed to be issued.
In March 2017, three separate individual investors were part of a private offering of securities. The purchase price was $0.01 per share of common stock, and the aggregate proceeds amounted to a total of $50,000, all of which was paid in cash, and 5,000,000 restricted shares of Company common stock were committed to be issued.
In April 2017, an individual investor was part of a private offering of securities. The purchase price was $0.01 per share of common stock, and the aggregate proceeds amounted to a total of $10,000, all of which was paid in cash, and 1,000,000 restricted shares of Company common stock were committed to be issued.
For the period of January 2017 through March 2017, the Company committed to issue 568,616 restricted shares of Company common stock to an independent contractor for certain business development services provided. The agreement with the independent contractor calls for the contractor to be paid at an hourly rate of $100, half of which is payable in cash and half of which is payable in restricted shares of Company common stock, such shares to be valued at the closing price of Company common stock on the relevant service day(s). |