Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

Note 14 - Subsequent Events

Management has evaluated events that occurred subsequent to the end of the reporting period shown herein:

The Patch PCT (Patent Cooptation treaty) was published July 13, 2017 as International Application Publication No. WO/2017/119947.

During June 2017, the Company entered into agreements and issued 4 notes in total to 3 investors. and the issuance of the Notes issuance were part of a funding plan where the 3 investors committed to fund up to $750,000 in tranches. Some or all of the investors defaulted on the second tranche, which has created a major liquidity and going concern issues that the Company trying to mitigate, but there is no assurance it will be successful. The Company is in intensive negotiations with Guardian LLC to reinstate funding Company overhead and expenses.

Effective August 15, 2017, Reko Holdings, LLC converted 6,000 shares of its Series D Preferred Stock into 6,000,000 restricted common shares. 

On or around April 4, 2017 the Company entered into a consulting agreement with a third party (“Consultant”) where, on a best-efforts basis, the Consultant will provide the Company with introductions to investment advisors, analysts, funding sources and other members of the financial community with whom it has established relationships, and will generally assist the Company in its efforts to enhance its visibility in the financial community. 

1. During the term of the Agreement the Company will pay the Consultant $2,000 per month to cover expenses. Consultant will accrue monthly cash fees until Company closes a qualified financing.

2. Upon execution of the Agreement, the Company will issue 25,000 shares (the first three months compensation) of the Company’s restricted common stock. In addition, the Company will issue further installments of 25,000 shares every three months while the Agreement remains in effect.

On July 5, 2017, the Company terminated the Consultant.

On or about August 10, 2017, the Company received certification for its Guardian Orb Tracker technology by Arrow Technologies, which the Company anticipates should boost the Company’s campaign’s visibility on Indiegogo, which recently approved the Company’s crowdfunding campaign on that platform.