Convertible Debenture - Related Party

12 Months Ended

Dec. 31, 2017

Convertible Debenture - Related Party [Abstract]

3. CONVERTIBLE DEBENTURE – RELATED PARTY

The Company entered into two 10% Secured Convertible Debentures with a significant shareholder in the amount of $50,000 on November 4, 2013 and $60,000 on December 17, 2013. The debentures carry a one-year term and are convertible into common stock at conversion price equal to the lower of $400.00 or 80% of the previous day’s closing price. $40,000 of the note was converted and $70,000 was repaid as of December 31, 2015. Convertible accrued interest remained outstanding under this note of $19,055 and $17,287 as of December 31, 2017 and 2016, respectively.

The changes in these outstanding convertible notes payable to related party consisted of the following during the years ended December 31, 2017 and 2016:

	December 31, 2017		December 31, 2016
Convertible debenture – related party at beginning of period	$	17,287	$	15,681
Conversion		-		-
Repayment		-		-
Accumulated interest		1,768		1,606
Convertible debenture – related party at end of period	$	19,055	$	17,287