SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Update on Series F Preferred Stock

As of November 10, 2017, an additional 30 shares of Series F Preferred Stock, with a value of $30,000, were converted into 33,333,333 shares of common stock.

Updates on Notes Payable

On October 23, 2017, the Company amended its promissory note with a vendor whose note is discussed in Note. 8. The note matured on October 23, 2017 and was due and payable as of this date. The amendment extended the note's maturity to November 6, 2017. As of the date of this filing, the Company is waiting to hear from the vendor on how they wish to proceed with payment.

Updates on Promissory Notes

On October 6, 2017, the Company and its investor entered into a Promissory Note Exchange Agreement to convert a promissory note with a principal balance of $103,000 and accrued interest of $5,233 in to common shares. Per the terms of the agreement the promissory note was canceled and 72,500,000 shares were issued.

On October 13, 2017, the Company made its first monthly redemption on the September 13, 2017 promissory note. This redemption was fulfilled in shares of common stock. The redemption amount of $116,390, consisting of $81,348 principal and $35,042 interest, resulted in the issuance of 93,786,866 shares of common stock.

On October 31, 2017, the Company issued a $250,000 promissory note to an accredited investor. On November 2, 2017, the Company received $250,000 of gross proceeds. The note matures on January 31, 2018, bears interest at a rate of 12% per annum, from date of funding, is unsecured and not convertible into shares of equity. All principal and interest on the note are payable upon maturity.

Update on St. George Convertible Note

On October 8, 2017 and November 8, 2017, the Company issued two cash payments of $95,833 each, in accordance with the terms of the St. George Convertible Note. Following this payment, the remaining principal balance on the note was $1,533,333.