NOTE 6 - DEBT DISCOUNT

9 Months Ended

Sep. 30, 2015

Note 6 - Debt Discount

NOTE 6 - DEBT DISCOUNT

NOTE 6 - DEBT DISCOUNT

The debt discount was recorded in 2015 and pertains to convertible debt issued that contains ratchet features that are required to be reported at fair value.

Debt discount is summarized as follows: 

	September 30, 2015
Debt discount as of December 31, 2014	$	13,822
Amortization due to settlement		(13,822	)
Debt discount as of March 31, 2015		—
Debt discount on May 8, 2015 Convertible note payable	$	300,000
Accumulated amortization		(196,158	)
Debt discount on notes payable	$	103,482

Amortization of debt discount on notes payable for the nine months ended September 30, 2015 and September 30, 2014 was $196,158 and $289,345, respectively.