Quarterly report pursuant to Section 13 or 15(d)

Convertible Notes Payable (Details Textual)

v3.19.3
Convertible Notes Payable (Details Textual) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended
Sep. 06, 2019
Aug. 31, 2019
Apr. 26, 2019
Sep. 30, 2019
May 15, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Convertible Notes Payable (Textual)
Gain on debt extinguishment $ 31,009 $ 31,009 $ (383,475)
Aggregate derivative expense 603,725 603,725
Amortization of debt discount 49,042 40,691
Interest expense $ 58,421 $ 171,060 49,003
Convertible Promissory Notes [Member]
Convertible Notes Payable (Textual)
Maturity date Apr. 26, 2020
Weighted average interest rate 12.80% 12.80%
Interest rate 4.00%
Received net proceeds $ 25,000
Net proceeds value 222,720
Embedded conversion option as derivative liabilities $ 593,823 $ 593,823
Aggregate derivative expense 381,005 381,005
Fair value of the warrants 44,530
Amortization of debt discount 116,555 0
Interest expense 106,465 $ 40,691
Current period operations as initial derivative expense $ 371,103 $ 371,103
Securities Purchase Agreements [Member] | Convertible Promissory Notes [Member]
Convertible Notes Payable (Textual)
Convertible promissory note $ 300,000 $ 244,800
Debt conversion, description (i) the lowest Trading Price (as defined below) during the previous twenty-five Trading Day period ending on the latest complete Trading Day prior to the date of this Note, and (ii) the Variable Conversion Price (as defined below) (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Company). The "Variable Conversion Price" shall mean 60% multiplied by the Market Price (as defined herein) (representing a discount rate of 40%). "Market Price" means the lowest Trading Price (as defined below) for the Company's common stock during the twenty-five Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. The Notes may be converted by the Investor after six months into shares of the Company's common stock (as determined in the Note) at a price equal to 81% of the average of the lowest two closing bid prices of the common stock as reported on the OTC Link ATS owned by OTC Markets Group for the 10 prior trading days. The Company may prepay the Notes at any time prior to the six-month anniversary, subject to pre-payment charges as detailed in the Notes. The SPAs and Notes contain customary representations, warranties and covenants, including certain restrictions on the Company's ability to sell, lease or otherwise dispose of any significant portion of its assets. Investor also has the right of first refusal with respect to any future equity (or debt with an equity component) offerings of less than $100,000 conducted by the Company until the six-month anniversary of the Note.
Maturity date Jun. 06, 2020 May 30, 2020
Interest rate 12.00%
Original issue discount $ 30,000 $ 40,800
Received net proceeds 192,000
Origination fees, net 12,000
Debt premium $ 57,423
Conversion of principal balance $ 12,000
Issued shares of common stock 295,567
Accrued interest for cash payment 238,080
Gain on debt extinguishment $ 31,009
Warrant to purchase shares of common stock 750,000
Warrant initial exercise price $ 0.10
Net proceeds value $ 267,250
Net of origination fees $ 2,750
Securities Purchase Agreements [Member] | Convertible Promissory Notes [Member] | Maximum [Member]
Convertible Notes Payable (Textual)
Interest rate 81.00%
Securities Purchase Agreements [Member] | Convertible Promissory Notes [Member] | Minimum [Member]
Convertible Notes Payable (Textual)
Interest rate 12.00%