Common Stock

12 Months Ended

Dec. 31, 2016

Common Stock [Abstract]

COMMON STOCK

NOTE 8 – COMMON STOCK

On April 27, 2015, the Company completed a 3,000 to 1 reverse split of its issued and outstanding shares of common stock and on August 8, 2016 completed a 19,000 to 1 reverse split of its issued and outstanding shares of common stock. All shares and per share information in the accompanying consolidated financial statements has been retroactively restated to reflect these two reverse stock splits.

During the year ended December 31, 2016, the Company issued shares of its common stock as follows:

● 1,001 shares of common stock to consultants as compensation for services valued at $3,975,653. The value was based on the market price of the Company’s common stock at the date of issuance;

● 1,202 shares of common stock under the September 3, 2015 acquisition agreement valued at $2,280,331. The value was based on the market price of the Company’s common stock at the date of issuance;

● 2,317,304 shares of common stock for the conversion of $90,962 in debt;

● 263 shares of common stock for financing costs valued at $10,500. The value was based on the market price of the Company’s common stock at the date of issuance;

● 249 shares of common stock for the conversion of 0 shares of preferred stock;

● 6,500,000 shares of common stock for the exercise of stock options;

● 85,065 shares of common stock for the cashless exercise of warrants; and

● 100,000,000 shares of common stock to Mr. John Fleming as compensation for services rendered valued at $100,000. The value approximates the value of the services rendered was based on the par value of the Company’s common stock.