v3.8.0.1
Stockholders' Deficit (Tables)
12 Months Ended
Dec. 31, 2017
Stockholders' Deficit [Abstract]  
Summary of stockholders' equity transactions

Date Securities Issued Securities Title Issued To Number of Securities Issued Price per share Consideration Footnotes
Common Stock Issuances
Sale of Common Shares for Cash
Year ended December 31, 2017 Restricted Common Stock Private Purchasers  34,550,000  $0.010  $345,500   1 
                     
Issuance of Common Shares for Amounts Owed                  
Year ended December 31, 2017 Restricted Common Stock Private Investor  600,000  $0.010  $6,000   2 
                     
Issued of Common Shares for Compensation to Contractor                  
Year ended December 31, 2017 Restricted Common Stock Independent Consultant  1,264,400   Varied (3)  $24,024   3 

 

 

We relied in each case for these unregistered sales on the private offering exemption of Section 4(a)(2) of the Securities Act and/or the private offering safe harbor provision of Rule 506 of Regulation D promulgated thereunder based on the following factors: (i) the number of offerees or purchasers, as applicable, (ii) the absence of general solicitation, (iii) representations obtained from the acquirer’s relative to their accreditation and/or sophistication (or from offeree or purchaser representatives, as applicable), (iv) the provision of appropriate disclosure, and (v) the placement of restrictive legends on the certificates reflecting the securities coupled with investment representations obtained from the acquirer’s.
  
(1) These subscriptions by individual investors were part of a private offering of securities. The purchase price was $0.01 per share, and the aggregate proceeds amounted to $345,500, all of which was paid in cash.  
 
(2) This subscription by a private investor was part of a private offering of securities. The purchase price was $0.01 per share, which represented a total value of $6,000, and all of which was paid for in exchange for the amounts owed to the private investor by the Company.
  
(3) This subscription by an individual investor was part of a private offering of securities. The purchase price, which represented a total value of $24,024, and all of which was paid for in the form of business development services previously performed for the benefit of the Company, was established for purposes of valuation on the basis of the closing price of the Company common stock on those days during which such services were performed.
 
Date Securities Issued Securities Title Issued To Number of Securities Issued Price per share Consideration Footnotes
Common Stock Issuances
Sale of Common Shares for Cash
Year ended December 31, 2016 Restricted Common Stock Private Purchasers  5,000,000  $0.010  $50,000   1 
Year ended December 31, 2016 Restricted Common Stock Private Purchaser  3,500,000  $0.006  $21,000   2 
                     
Issuance of Common Shares for Converted Note Payable                  
Year ended December 31, 2016 Restricted Common Stock Private Investor  2,613,963  $0.004  $10,456   3 
                     
Issued of Common Shares for Compensation to Contractor                  
Year ended December 31, 2016 Restricted Common Stock Independent Consultant  1,639,490   Varied (4)  $8,512   4 

 

We relied in each case for these unregistered sales on the private offering exemption of Section 4(a)(2) of the Securities Act and/or the private offering safe harbor provision of Rule 506 of Regulation D promulgated thereunder based on the following factors: (i) the number of offerees or purchasers, as applicable, (ii) the absence of general solicitation, (iii) representations obtained from the acquirer’s relative to their accreditation and/or sophistication (or from offeree or purchaser representatives, as applicable), (iv) the provision of appropriate disclosure, and (v) the placement of restrictive legends on the certificates reflecting the securities coupled with investment representations obtained from the acquirer’s.
 
(1) These subscriptions by individual investors were part of a private offering of securities. The purchase price was $0.01 per share, and the aggregate proceeds amounted to $50,000, all of which was paid in cash.  
 
(2) This subscription by an individual investor was part of a private offering of securities. The purchase price was $0.006 per share, and the aggregate proceeds amounted to $21,000, all of which was paid in cash.
 
(3) Issued upon election by an investor to convert an outstanding note to equity at a price equal to $0.004 per share.  Inclusive of accrued interest, the note totaled $10,456 as of the date of conversion. See Note 7.
 
(4) This subscription by an individual investor was part of a private offering of securities. The purchase price, which represented a total value of $8,512, and all of which was paid for in the form of business development services previously performed for the benefit of the Company, was established for purposes of valuation on the basis of the closing price of the Company common stock on those days during which such services were performed.