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2017-12-31
Astika Holdings Inc.
Florida
274601693
Level 1
725 Rosebank Road
Avondale
Auckland
1348
New Zealand
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<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><u><font style='border:none'>NOTE 1 - BASIS OF PRESENTATION</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>Astika Holdings, Inc. (the “Company”, “we”, “us”, “our”), Astika Holdings, Inc., a Florida corporation, is refocusing and preparing to relaunch the Company through a variety of strategic acquisitions in the textile, service, and industrial sectors to complement and capture the next wave of growth companies from Asia and New Zealand.  </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On September 26, 2014 the Company dissolved its subsidiary Astika Music Entertainment, Inc.  The dissolution was in response to the change in the nature of business operations.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><u><font style='border:none'>NOTE </font></u><u><font style='border:none'>2</font></u><u><font style='border:none'>- GOING CONCERN</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  </font><font style='border:none'>The Company has an accumulated deficit and a working capital deficit at December 31, 2017. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and allow it to continue as a going concern.  </font><font style='border:none'>The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.  These factors raise substantial doubt about the Company’s ability to continue as a going concern.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans focus is on a variety of strategic acquisitions in service, agriculture and industrial companies to compliment and grow Astika Holdings, Inc.’s business.  The Company is positioning to capture the next wave of growth companies from Asia. As the centerpieces for Astika Holdings in Asia, the focus is on rapid economic growth and increased foreign investment sector companies which management believes is poised for accelerated economic growth with national modernization.  Astika’s planned focus is also on adding value through successful project development, efficient operations, and opportunistic acquisitions while maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions. Management’s plan to obtain such resources for the Company include (i) obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses; (ii) obtaining funding from outside sources through the sale of its debt and/or equity securities; and (iii) completing a merger with or acquisition of an existing operating company.  However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.  The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;border:none'><u><font style='border:none'>NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;border:none'><i><u><font style='border:none'>Basis of Presentation</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The accompanying financial statements have been prepared by the Company.  The Company’s financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Cash and Cash Equivalents</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents.  At December 31, 2017 and 2016, the Company has no cash equivalents.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Use of Estimates</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Earnings (Loss) Per Share</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company computes earnings per share in accordance with ASC 260, “Earnings Per Share” (ASC 260). Under the provisions of ASC 260, basic earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potentially dilutive common shares outstanding during the period. The Company </font><font style='border:none'>had net losses as of December 31, 2017 and 2016, as such, the diluted earnings per share excludes all dilutive potential shares because their effect is anti-dilutive.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Stock-Based Compensation</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>We recognize compensation cost for stock-based awards to employees in accordance with ASC Topic 718, over the requisite service period for each separately vesting tranche, as if multiple awards were granted. Compensation cost is based on grant-date fair value using quoted market prices for our common stock. We recognize compensation cost for stock-based awards to nonemployees in accordance with ASC Topic 505.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Income Taxes</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Accounting for Derivative Instruments</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:12.0pt;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:12.0pt;border:none'><font style='border:none'>The Company accounts for derivative instruments in accordance with ASC Topic 815, </font><font style='border:none'>“</font><font style='border:none'>Derivatives and Hedging</font><font style='border:none'>”</font><font style='border:none'> (ASC 815)</font><font style='border:none'> and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;text-autospace:none;border:none'><font style='border:none'>The Company uses estimates of fair value to value its derivative instruments. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. In general, the Company's policy in estimating fair values is to first look at observable market prices for identical assets and liabilities in active markets, where available. When these are not available, other inputs are used to model fair value such as prices of similar instruments, yield curves, volatilities, prepayment speeds, default rates and credit spreads (including for the Company's liabilities), relying first on observable data from active markets. Additional adjustments may be made for factors including liquidity, credit, bid/offer spreads, etc., depending on current market conditions. Transaction costs are not included in the determination of fair value. When possible, the Company seeks to validate the model's output to market transactions. Depending on the availability of observable inputs and prices, different valuation models could produce materially different fair value estimates. The values presented may not represent future fair values and may not be realizable. The Company categorizes its fair value estimates in accordance with ASC 820 based on the hierarchical framework associated with the three levels of price transparency utilized in measuring financial instruments at fair value as discussed above. Changes in fair value are recognized in the period incurred as either gains or losses.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>ASC 820, “Fair Value Measurements” (ASC 820) and ASC 825, “Financial Instruments” (ASC 825)<i>, </i>requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><i><font style='border:none'>Level 1 - </font></i><font style='border:none'>Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><i><font style='border:none'>Level 2 - </font></i><font style='border:none'>Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><i><font style='border:none'>Level 3 </font></i><font style='border:none'>- Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The carrying values of cash, accounts payable, and accrued liabilities approximate fair value. Pursuant to ASC 820 and 825, the fair value of cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The following table sets forth by level within the fair value hierarchy the Company's financial assets and liabilities that are measured at fair value on a recurring basis:</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="619" style='width:464.0pt;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>December 31, 2017:</b></p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 1</b></p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 2</b></p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 3</b></p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Total</b></p> </td> </tr> <tr style='height:14.5pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Liabilities:</p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Derivative financial instruments</p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="20" style='width:14.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>December 31, 2016:</b></p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:14.5pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Liabilities:</p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Derivative financial instruments</p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="20" style='width:14.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>23,347</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>23,347</p> </td> </tr> </table> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:120%;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:120%;border:none'><i><u><font style='border:none'>Recently Issued Accounting Standards</font></u></i><u><font style='border:none'> </font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'>In January 2017, FASB issued ASU 2017-01, "Business Combinations (Topic 805) - Clarifying the Definition of a Business". The Board is issuing the amendments in this ASU to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses.  The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments in this ASU affect all reporting entities that must determine whether they have acquired or sold a business.  Public business entities should apply the amendments in this ASU to annual periods beginning after December 15, 2017, including interim periods within those periods. However, early application of the amendments in this ASU if 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance, or 2) for  transactions  in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in  financials. The Company will evaluate the potential impact of adopting this new standard on its financial statements and related disclosures when the acquisition plan is executed in future.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'>In May 10, 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718) - Scope of Modification. ASU 2017-09 clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. Regardless of whether the change to the terms or conditions of the award requires modification accounting, the existing disclosure requirements and other aspects of GAAP associated with modifications, such as earnings per share, continue to apply. The guidance is effective prospectively for all companies for annual periods beginning on or after December 15, 2017. Early adoption is permitted. The Company is evaluating the potential impact of adopting this new standard on its financial statements and related disclosures and believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'>In December 2017, the Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 118 (the “Bulletin”), which provides accounting guidance regarding accounting for income taxes for the reporting period that includes the enactment of the Tax Act. The Bulletin provides guidance in those situations where the accounting for certain income tax effects of the Tax Act will be incomplete by the time financial statements are issued for the reporting period that includes the enactment date. For those elements of the Tax Act that cannot be reasonably<font style='line-height:120%;border:none'> </font>The SEC has provided in the Bulletin that in situations where the accounting is incomplete for certain effects of the Tax Act, a measurement period which begins in the reporting period that includes the enactment of the Tax Act and ends when the entity has obtained, prepared and analyzed the information is needed in order to complete the accounting requirements. The measurement period shall not exceed one year from enactment. estimated, no effect will be recorded. The Company is evaluating the potential impact of adopting this new standard on its financial statements and related disclosures and believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;border:none'><i><u><font style='border:none'>Basis of Presentation</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The accompanying financial statements have been prepared by the Company.  The Company’s financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Cash and Cash Equivalents</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents.  At December 31, 2017 and 2016, the Company has no cash equivalents.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Use of Estimates</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Earnings (Loss) Per Share</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company computes earnings per share in accordance with ASC 260, “Earnings Per Share” (ASC 260). Under the provisions of ASC 260, basic earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potentially dilutive common shares outstanding during the period. The Company </font><font style='border:none'>had net losses as of December 31, 2017 and 2016, as such, the diluted earnings per share excludes all dilutive potential shares because their effect is anti-dilutive.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Stock-Based Compensation</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>We recognize compensation cost for stock-based awards to employees in accordance with ASC Topic 718, over the requisite service period for each separately vesting tranche, as if multiple awards were granted. Compensation cost is based on grant-date fair value using quoted market prices for our common stock. We recognize compensation cost for stock-based awards to nonemployees in accordance with ASC Topic 505.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Income Taxes</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><i><u><font style='border:none'>Accounting for Derivative Instruments</font></u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:12.0pt;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:12.0pt;border:none'><font style='border:none'>The Company accounts for derivative instruments in accordance with ASC Topic 815, </font><font style='border:none'>“</font><font style='border:none'>Derivatives and Hedging</font><font style='border:none'>”</font><font style='border:none'> (ASC 815)</font><font style='border:none'> and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;text-autospace:none;border:none'><font style='border:none'>The Company uses estimates of fair value to value its derivative instruments. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. In general, the Company's policy in estimating fair values is to first look at observable market prices for identical assets and liabilities in active markets, where available. When these are not available, other inputs are used to model fair value such as prices of similar instruments, yield curves, volatilities, prepayment speeds, default rates and credit spreads (including for the Company's liabilities), relying first on observable data from active markets. Additional adjustments may be made for factors including liquidity, credit, bid/offer spreads, etc., depending on current market conditions. Transaction costs are not included in the determination of fair value. When possible, the Company seeks to validate the model's output to market transactions. Depending on the availability of observable inputs and prices, different valuation models could produce materially different fair value estimates. The values presented may not represent future fair values and may not be realizable. The Company categorizes its fair value estimates in accordance with ASC 820 based on the hierarchical framework associated with the three levels of price transparency utilized in measuring financial instruments at fair value as discussed above. Changes in fair value are recognized in the period incurred as either gains or losses.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>ASC 820, “Fair Value Measurements” (ASC 820) and ASC 825, “Financial Instruments” (ASC 825)<i>, </i>requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><i><font style='border:none'>Level 1 - </font></i><font style='border:none'>Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><i><font style='border:none'>Level 2 - </font></i><font style='border:none'>Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><i><font style='border:none'>Level 3 </font></i><font style='border:none'>- Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The carrying values of cash, accounts payable, and accrued liabilities approximate fair value. Pursuant to ASC 820 and 825, the fair value of cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The following table sets forth by level within the fair value hierarchy the Company's financial assets and liabilities that are measured at fair value on a recurring basis:</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="619" style='width:464.0pt;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>December 31, 2017:</b></p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 1</b></p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 2</b></p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 3</b></p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Total</b></p> </td> </tr> <tr style='height:14.5pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Liabilities:</p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Derivative financial instruments</p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="20" style='width:14.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>December 31, 2016:</b></p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:14.5pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Liabilities:</p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Derivative financial instruments</p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="20" style='width:14.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>23,347</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>23,347</p> </td> </tr> </table>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="619" style='width:464.0pt;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>December 31, 2017:</b></p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 1</b></p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 2</b></p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Level 3</b></p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>Total</b></p> </td> </tr> <tr style='height:14.5pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Liabilities:</p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Derivative financial instruments</p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="20" style='width:14.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>December 31, 2016:</b></p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="84" colspan="2" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="85" colspan="2" style='width:63.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:14.5pt'> <td width="224" style='width:167.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Liabilities:</p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="62" style='width:46.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="20" style='width:14.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="64" style='width:47.65pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="224" style='width:167.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Derivative financial instruments</p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="62" style='width:46.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>--</p> </td> <td width="20" style='width:14.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>23,347</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="64" style='width:47.65pt;border:none;border-bottom:double black 2.25pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>23,347</p> </td> </tr> </table>
0
0
0
0
0
23347
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:120%;border:none'><i><u><font style='border:none'>Recently Issued Accounting Standards</font></u></i><u><font style='border:none'> </font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'>In January 2017, FASB issued ASU 2017-01, "Business Combinations (Topic 805) - Clarifying the Definition of a Business". The Board is issuing the amendments in this ASU to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses.  The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments in this ASU affect all reporting entities that must determine whether they have acquired or sold a business.  Public business entities should apply the amendments in this ASU to annual periods beginning after December 15, 2017, including interim periods within those periods. However, early application of the amendments in this ASU if 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance, or 2) for  transactions  in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in  financials. The Company will evaluate the potential impact of adopting this new standard on its financial statements and related disclosures when the acquisition plan is executed in future.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'>In May 10, 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718) - Scope of Modification. ASU 2017-09 clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. Regardless of whether the change to the terms or conditions of the award requires modification accounting, the existing disclosure requirements and other aspects of GAAP associated with modifications, such as earnings per share, continue to apply. The guidance is effective prospectively for all companies for annual periods beginning on or after December 15, 2017. Early adoption is permitted. The Company is evaluating the potential impact of adopting this new standard on its financial statements and related disclosures and believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:120%'>In December 2017, the Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 118 (the “Bulletin”), which provides accounting guidance regarding accounting for income taxes for the reporting period that includes the enactment of the Tax Act. The Bulletin provides guidance in those situations where the accounting for certain income tax effects of the Tax Act will be incomplete by the time financial statements are issued for the reporting period that includes the enactment date. For those elements of the Tax Act that cannot be reasonably<font style='line-height:120%;border:none'> </font>The SEC has provided in the Bulletin that in situations where the accounting is incomplete for certain effects of the Tax Act, a measurement period which begins in the reporting period that includes the enactment of the Tax Act and ends when the entity has obtained, prepared and analyzed the information is needed in order to complete the accounting requirements. The measurement period shall not exceed one year from enactment. estimated, no effect will be recorded. The Company is evaluating the potential impact of adopting this new standard on its financial statements and related disclosures and believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'><u><font style='border:none'>NOTE 4 -   CONVERTIBLE NOTE PAYABLE</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>During October 2014, the Company issued an 8.0% convertible debenture for </font><font style='border:none'>$31,500</font><font style='border:none'> in cash.  The convertible debenture accrues interest at 8.0% per annum, is unsecured, due in one year from the date of issuance and is convertible into shares of the Company’s common stock after 180 days at the option of the holder at a rate equal to 55% of the lowest trading price of the Company’s common stock out of the last 20 trading trades including the date of conversion. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The balance of the convertible debenture at December 31, 2016 was $24,500.  The amount of accrued interest due at December 31, 2016 was $4,321.  Per the convertible agreement, upon an event of default, interest shall accrue at a default rate of 24% per annum or, if that rate is exorbitant or not permitted by current law, then at the highest rate of interest permitted by law. As of December 31, 2016, the loan was in default.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On March 21, 2017, the Company issued </font><font style='border:none'>572,476</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$2,000</font><font style='border:none'> principal and </font><font style='border:none'>$834</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00495</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On June 8, 2017, the Company issued </font><font style='border:none'>603,038</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$700</font><font style='border:none'> principal and </font><font style='border:none'>$328</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00171</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On June 13, 2017, the Company issued </font><font style='border:none'>638,926</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$740</font><font style='border:none'> principal and </font><font style='border:none'>$350</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00171</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On June 27, 2017, the Company issued </font><font style='border:none'>670,334</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,245</font><font style='border:none'> principal and </font><font style='border:none'>$598</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00275</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On July 18, 2017, the Company issued </font><font style='border:none'>701,519</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$800</font><font style='border:none'> principal and </font><font style='border:none'>$396</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00171</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On July 24, 2017, the Company issued </font><font style='border:none'>735,903</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$810</font><font style='border:none'> principal and </font><font style='border:none'>$404</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00165</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 3, 2017, the Company issued </font><font style='border:none'>775,636</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$850</font><font style='border:none'> principal and </font><font style='border:none'>$430</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00165</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 18, 2017, the Company issued </font><font style='border:none'>812,860</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$885</font><font style='border:none'> principal and </font><font style='border:none'>$456</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00165</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 25, 2017, the Company issued </font><font style='border:none'>852,841</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,080</font><font style='border:none'> principal and </font><font style='border:none'>$562</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00193</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 31, 2017, the Company issued </font><font style='border:none'>897,810</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$810</font><font style='border:none'> principal and </font><font style='border:none'>$424</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00138</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On September 13, 2017, the Company issued </font><font style='border:none'>941,854</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$845</font><font style='border:none'> principal and </font><font style='border:none'>$450</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00138</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On September 20, 2017, the Company issued </font><font style='border:none'>989,403</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$885</font><font style='border:none'> principal and </font><font style='border:none'>$475</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00138</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On October </font><font style='border:none'>3</font><font style='border:none'>, 2017,</font><font style='border:none'> </font><font style='border:none'>the Company issued </font><font style='border:none'>1,038,870</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,035</font><font style='border:none'> principal and </font><font style='border:none'>$565</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On October 16, 2017, the Company issued </font><font style='border:none'>1,090,032</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,080</font><font style='border:none'> principal and </font><font style='border:none'>$599</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On October 19, 2017, the Company issued </font><font style='border:none'>1,141,941</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,130</font><font style='border:none'> principal and </font><font style='border:none'>$629</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On November 6, 2017, the Company issued </font><font style='border:none'>1,201,538</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,180</font><font style='border:none'> principal and </font><font style='border:none'>$670</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On November 28, 2017, the Company issued </font><font style='border:none'>1,262,260</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$2,325</font><font style='border:none'> principal and </font><font style='border:none'>$1,354</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00292</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On December 6, 2017, the Company issued </font><font style='border:none'>1,326,373</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$2,435</font><font style='border:none'> principal and </font><font style='border:none'>$1,431</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00292</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On December 22, 2017, the Company issued </font><font style='border:none'>2,009,595</font><font style='border:none'> common shares in the conversion of the remaining </font><font style='border:none'>$3,665</font><font style='border:none'> in principal and </font><font style='border:none'>$2,193</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00292</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The balance of the convertible debenture at December 31, 2017 and December 31, 2016 was </font><font style='border:none'>$0</font><font style='border:none'> and </font><font style='border:none'>$24,500</font><font style='border:none'>, respectively.  The amount of accrued interest due at December 31, 2017 is </font><font style='border:none'>$0</font><font style='border:none'>, with </font><font style='border:none'>$4,321</font><font style='border:none'> at December 31, 2016.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p>
31500
0
24500
0
4321
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'><u><font style='border:none'>NOTE 5 -   DERIVATIVE LIABILITY</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>The Company analyzed the conversion option embedded in the convertible debenture for derivative accounting consideration under ASC 815 and determined that the embedded instrument should be classified as a liability and recorded at fair value due to the variable conversion prices. The fair value of the conversion options was determined to be $52,267 as of the issuance date using a Black-Scholes option-pricing model. Upon the date of issuance of the convertible debenture, $31,500 was recorded as debt discount and $20,767 was recorded as day one loss on derivative liability. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>Between March and December 2017, the holder of the convertible debenture elected to convert all </font><font style='border:none'>$24,500</font><font style='border:none'> in principal of the convertible debenture into </font><font style='border:none'>18,263,209</font><font style='border:none'> shares of the Company’s common stock. As a result of debt conversions, </font><font style='border:none'>$96,692</font><font style='border:none'> of derivative liability was extinguished through a charge to paid-in capital. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>As the convertible debt with the conversion option requiring derivative accounting was fully converted during the year ended December 31, 2017, the Company recorded the retirement of the derivative liability of </font><font style='border:none'>$9,526</font><font style='border:none'> to additional paid-in capital.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>During the years ended December 31, 2017 and 2016, $82,871 and $3,122 was recorded as a loss on mark-to-market of the conversion options, respectively. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>The following table summarizes the derivative liability included in the balance sheet at December 31, 2017 and December 31, 2016:</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> <table border="0" cellspacing="0" cellpadding="0"> <tr align="left"> <td width="491" style='width:368.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> </td> <td width="29" style='width:21.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> </td> <td width="105" style='width:79.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Balance, December 31, 2015</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>$</p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>20,225</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Loss on change in fair value</p> </td> <td width="29" valign="bottom" style='width:21.75pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>3,122</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Balance, December 31, 2016</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>23,347</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Reclassification of derivative liability to paid-in capital</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>(96,691)</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Loss on change in fair value</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>82,871</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Extinguishment of liability to equity due to release from ASC 815</p> </td> <td width="29" valign="bottom" style='width:21.75pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>(9,526)</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Balance, December 31, 2017</p> </td> <td width="29" valign="bottom" style='width:21.75pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> $</p> </td> <td width="105" valign="bottom" style='width:79.0pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>-</p> </td> </tr> </table> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char'>The Company estimated the fair value of the derivative liabilities using the Black-Scholes option pricing model and the following key assumptions during the year ended December 31, 2017: </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char'> </p> <table border="0" cellspacing="0" cellpadding="0" width="679" style='width:509.5pt;border-collapse:collapse'> <tr style='height:14.7pt'> <td width="288" valign="bottom" style='width:215.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="186" colspan="3" style='width:139.25pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b><font style='quot,serif'>2017</font></b></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="165" colspan="3" style='width:123.55pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b><font style='quot,serif'>2016</font></b></p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Expected dividends</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="145" style='width:108.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>-%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="124" style='width:92.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>-%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Expected term (years)</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="145" style='width:108.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.12</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="124" style='width:92.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.12</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Volatility</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="145" style='width:108.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>78% - 235%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="124" style='width:92.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>52% - 292%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Risk-free rate</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="145" style='width:108.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.74% - 1.33%</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="124" style='width:92.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.25% - 0.74%</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> </tr> </table> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;layout-grid-mode:char'> </p>
31500
20767
24500
18263209
96692
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> <table border="0" cellspacing="0" cellpadding="0"> <tr align="left"> <td width="491" style='width:368.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> </td> <td width="29" style='width:21.75pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> </td> <td width="105" style='width:79.0pt;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Balance, December 31, 2015</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>$</p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>20,225</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Loss on change in fair value</p> </td> <td width="29" valign="bottom" style='width:21.75pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>3,122</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Balance, December 31, 2016</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>23,347</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Reclassification of derivative liability to paid-in capital</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>(96,691)</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Loss on change in fair value</p> </td> <td width="29" valign="bottom" style='width:21.75pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>82,871</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Extinguishment of liability to equity due to release from ASC 815</p> </td> <td width="29" valign="bottom" style='width:21.75pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> </p> </td> <td width="105" valign="bottom" style='width:79.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>(9,526)</p> </td> </tr> <tr align="left"> <td width="491" valign="bottom" style='width:368.0pt;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'>Balance, December 31, 2017</p> </td> <td width="29" valign="bottom" style='width:21.75pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 6.75pt 0in 6.75pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char'> $</p> </td> <td width="105" valign="bottom" style='width:79.0pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 6.75pt 0in 6.75pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;layout-grid-mode:char'>-</p> </td> </tr> </table>
20225
3122
23347
-96691
82871
-9526
0
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char'> </p> <table border="0" cellspacing="0" cellpadding="0" width="679" style='width:509.5pt;border-collapse:collapse'> <tr style='height:14.7pt'> <td width="288" valign="bottom" style='width:215.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="186" colspan="3" style='width:139.25pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b><font style='quot,serif'>2017</font></b></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="165" colspan="3" style='width:123.55pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.7pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b><font style='quot,serif'>2016</font></b></p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Expected dividends</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="145" style='width:108.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>-%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="124" style='width:92.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>-%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Expected term (years)</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="145" style='width:108.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.12</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="124" style='width:92.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.12</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Volatility</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="145" style='width:108.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>78% - 235%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> <td width="124" style='width:92.7pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>52% - 292%</font></p> </td> <td width="21" style='width:15.4pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'> </font></p> </td> </tr> <tr style='height:14.2pt'> <td width="288" style='width:215.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font style='quot,serif'>Risk-free rate</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="145" style='width:108.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.74% - 1.33%</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="124" style='width:92.7pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font style='quot,serif'>0.25% - 0.74%</font></p> </td> <td width="21" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.2pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> </tr> </table> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;layout-grid-mode:char'> </p>
P1M13D
P1M13D
0.7800
2.3500
0.5200
2.9200
0.0074
0.0133
0.0025
0.0074
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><u><font style='border:none'>NOTE 6 - LOAN TRANSACTION</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The Company purchased a recorded music compilation from EuGene Gant for a purchase price of </font><font style='border:none'>$5,000</font><font style='border:none'> pursuant to a Bill of Sale and Assignment dated June 15, 2012, an Exclusive Songwriter Agreement dated June 15, 2012, and a Promissory Note that the Company concurrently executed and delivered to him on the same date.  The Company made a payment to Mr. Gant in the amount of </font><font style='border:none'>$1,000</font><font style='border:none'> on June 15, 2012 and </font><font style='border:none'>$2,000</font><font style='border:none'> on October 1, 2012, and </font><font style='border:none'>$1,000</font><font style='border:none'> on June 15, 2013, and the remaining $1,000 principal amount under Promissory Note bears interest at five percent (5%) per annum, and there is one remaining principal installment payment in the amount of $1,162 due.  Accrued and unpaid interest on the Promissory Note is also due in the amount of $69 for the year ended December 31, 2017, and $188 for the year ended December 31, 2016.  As of December 31, 2017 and December 31, 2016, total outstanding short-term debt is </font><font style='border:none'>$1,419</font><font style='border:none'> and </font><font style='border:none'>$1,350</font><font style='border:none'>, respectively.  The note matured on June 15, 2013 and the loan is currently in default.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The songwriter agreement expired on June 15, 2014 and the Company did not renew.  </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On October 22, 2015, Artfield Investment paid $2,100 in expenses on behalf of the Company. This loan is unsecured, due on demand, and carries no interest. At December 31, 2017 and December 31, 2016, the total amount owed was </font><font style='border:none'>$2,100</font><font style='border:none'> and </font><font style='border:none'>$2,100</font><font style='border:none'>, respectively.</font></p>
5000
1000
2000
1000
1419
1350
2100
2100
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><u><font style='border:none'>NOTE 7 – RELATED PARTY TRANSACTIONS</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The Company has entered into transactions with the related party, IQ Acquisition (NY), Ltd, owned by Mr. Richards, the CEO of the Company. IQ Acquisition (NY), Ltd, the major shareholder of the Company, has paid expenses on behalf of the Company in the amount of </font><font style='border:none'>$135,015</font><font style='border:none'> during the year ended December 31, 2017 and </font><font style='border:none'>$23,945</font><font style='border:none'> during the year ended December 31, 2016.  The Company reimbursed IQ acquisition (NY) in the amount of </font><font style='border:none'>$142,779</font><font style='border:none'> and </font><font style='border:none'>$0</font><font style='border:none'> during the years ended December 31, 2017 and 2016. The balance due to related party as of December 31, 2017 and December 31, 2016 was </font><font style='border:none'>$15,000</font><font style='border:none'>, and </font><font style='border:none'>$45,264</font><font style='border:none'>, respectively.  The advances are unsecured, payable on demand, and carry no interest.</font></p>
135015
23945
142779
0
15000
45264
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><u><font style='border:none'>NOTE 8 – MATERIAL CONTRACTS</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'><font style='border:none'>On June 15, 2012, the Company entered into a songwriter agreement with Eugene Gant, a songwriter, which provides for Mr. Gant’s employment as a staff writer on an exclusive basis to write musical compositions as works for hire for a period of two years from the date of the agreement. This agreement expired on June 15, 2014. The exclusive songwriter agreement with Eugene B. Settler dated June 16, 2012, provides for Mr. Settler’s employment as a staff writer on an exclusive basis to write musical compositions as works for hire for a period of five years from the date of the agreement. This agreement expires on June 16, 2017. During Mr. Gant’s and Mr. Settler’s tenure as songwriters for the Company, the copyrights on their entire work product will belong to the Company, in exchange for our assistance in exploiting and marketing these compositions and the payment of a writer’s fee to them ranging from 10% to 50% of the net amounts that we collect on these musical compositions. The Company is entitled to the royalties for a period of 50 years from the date of the creation of any work for hire pursuant to such agreements. After the expiration of such 50-year period, the copyright on a musical composition reverts to the songwriter or his heirs or assigns.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'><font style='border:none'>On June 4, 2015, Artfield Investment RD, Inc. was contracted to provide restructuring consulting services to the Company for $45,000. Consultation fee shall be payable </font><font style='border:none'>$22,500</font><font style='border:none'> in cash at the time of signing (6/4/2015), and the remaining fee of </font><font style='border:none'>$22,500</font><font style='border:none'> to be paid through unrestricted shares.  The entire $45,000 was due upon signing the agreement and was recorded as a liability.  The shares have not been issued as of the date of this filing.</font></p>
22500
22500
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><u><font style='border:none'>NOTE 9 - EQUITY TRANSACTIONS</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>The Company has authorized </font><font style='border:none'>10,000,000</font><font style='border:none'> shares of Preferred Stock and </font><font style='border:none'>140,000,000</font><font style='border:none'> shares of Common Stock at par value of </font><font style='border:none'>$0.001</font><font style='border:none'>.  At </font><font style='border:none'>December 31, 2017 and December 31, 2016, the Company had </font><font style='border:none'>29,890,066</font><font style='border:none'> and </font><font style='border:none'>11,626,857</font><font style='border:none'> shares of common stock, and </font><font style='border:none'>2,090,000</font><font style='border:none'> and </font><font style='border:none'>zero</font><font style='border:none'> preferred shares, issued and outstanding, respectively.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On March 10, 2016, the Company filed an Amendment to the Articles of Incorporation breaking out the Preferred Stock into Series A, B, C, D, E, F, G, H, I, J, K, and L, with the series designation of each issuance of preferred stock set forth by the Board of Directors at the time of issuance.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On March 21, 2017, the Company issued </font><font style='border:none'>572,476</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$2,000</font><font style='border:none'> principal and </font><font style='border:none'>$834</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00495</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On June 8, 2017, the Company issued </font><font style='border:none'>603,038</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$700</font><font style='border:none'> principal and </font><font style='border:none'>$328</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00171</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On June 13, 2017, the Company issued </font><font style='border:none'>638,926</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$740</font><font style='border:none'> principal and </font><font style='border:none'>$350</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00171</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On June 27, 2017, the Company issued </font><font style='border:none'>670,334</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,245</font><font style='border:none'> principal and </font><font style='border:none'>$598</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00275</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On July 18, 2017, the Company issued </font><font style='border:none'>701,519</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$800</font><font style='border:none'> principal and </font><font style='border:none'>$396</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00171</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On July 24, 2017, the Company issued </font><font style='border:none'>735,903</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$810</font><font style='border:none'> principal and </font><font style='border:none'>$404</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00165</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 3, 2017, the Company issued </font><font style='border:none'>775,636</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$850</font><font style='border:none'> principal and </font><font style='border:none'>$430</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00165</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 18, 2017, the Company issued </font><font style='border:none'>812,860</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$885</font><font style='border:none'> principal and </font><font style='border:none'>$456</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00165</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 25, 2017, the Company issued </font><font style='border:none'>852,841</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,080</font><font style='border:none'> principal and </font><font style='border:none'>$562</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00193</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On August 31, 2017, the Company issued </font><font style='border:none'>897,810</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$810</font><font style='border:none'> principal and </font><font style='border:none'>$424</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00138</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On September 13, 2017, the Company issued </font><font style='border:none'>941,854</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$845</font><font style='border:none'> principal and </font><font style='border:none'>$450</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00138</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On September 20, 2017, the Company issued </font><font style='border:none'>989,403</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$885</font><font style='border:none'> principal and </font><font style='border:none'>$475</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00138</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On October </font><font style='border:none'>3</font><font style='border:none'>, 2017,</font><font style='border:none'> </font><font style='border:none'>the Company issued </font><font style='border:none'>1,038,870</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,035</font><font style='border:none'> principal and </font><font style='border:none'>$565</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On October 16, 2017, the Company issued </font><font style='border:none'>1,090,032</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,080</font><font style='border:none'> principal and </font><font style='border:none'>$599</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On October 19, 2017, the Company issued </font><font style='border:none'>1,141,941</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,130</font><font style='border:none'> principal and </font><font style='border:none'>$629</font><font style='border:none'> in interest due to LG Capital Funding, LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On November 6, 2017, the Company issued </font><font style='border:none'>1,201,538</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$1,180</font><font style='border:none'> principal and </font><font style='border:none'>$670</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00154</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On November 28, 2017, the Company issued </font><font style='border:none'>1,262,260</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$2,325</font><font style='border:none'> principal and </font><font style='border:none'>$1,354</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00292</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On December 6, 2017, the Company issued </font><font style='border:none'>1,326,373</font><font style='border:none'> common shares in the conversion of </font><font style='border:none'>$2,435</font><font style='border:none'> principal and </font><font style='border:none'>$1,431</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00292</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>On December 14, 2017, in accordance with the Company's share subscription agreements with the Series B subscribers, the Company issued </font><font style='border:none'>2,090,000</font><font style='border:none'> shares of Series B preferred stock to twenty-two (22) individual subscribers for a total cash proceed of </font><font style='border:none'>$569,773</font><font style='border:none'>. Of the total 2,090,000 shares, 1,210,000 shares were issued at $0.30 per share, 380,000 shares were issued at $0.40 per share, and the remaining 500,000 shares were issued for the services provided by an individual subscriber as compensation.    </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;border:none'><font style='border:none'>On December 22, 2017, the Company issued </font><font style='border:none'>2,009,595</font><font style='border:none'> common shares in the conversion of the remaining </font><font style='border:none'>$3,665</font><font style='border:none'> in principal and </font><font style='border:none'>$2,193</font><font style='border:none'> in interest due to LG Capital Funding. LLC at </font><font style='border:none'>$0.00292</font><font style='border:none'> per share, as calculated per the loan agreement.</font></p>
10000000
10000000
140000000
140000000
0.001
0.001
0.001
0.001
29890066
29890066
11626857
11626857
0
0
572476
2000
834
0.00495
603038
700
328
0.00171
638926
740
350
0.00171
670334
1245
598
0.00275
701519
800
396
0.00171
735903
810
404
0.00165
775636
850
430
0.00165
812860
885
456
0.00165
852841
1080
562
0.00193
897810
810
424
0.00138
941854
845
450
0.00138
989403
885
475
0.00138
1038870
1035
565
0.00154
1090032
1080
599
0.00154
1141941
1130
629
0.00154
1201538
1180
670
0.00154
1262260
2325
1354
0.00292
1326373
2435
1431
0.00292
569773
2009595
3665
2193
0.00292
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u>NOTE 10 - CONVERTIBLE PREFERRED STOCK </u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'>In December 2017, the Company issued 1,210,000 shares of its Series B convertible preferred stock at a price per share of $0.30 for gross proceeds of $363,000 and issued 380,000 shares of its Series B convertible preferred stock at a price per share of $0.40 for gross proceeds of $145,200. The net proceeds, after deducting the issuing cost, from issuing the Series B convertible preferred stock in December 2017 was $201,809. In December 2017, the Company also issued 500,000 shares of its Series B convertible preferred stock to a third party as compensation, totally $160,000, for his consulting services. The Series B shareholders are entitled, at their option, at any time after the issuance of the Series B convertible preferred stock, to convert all or any lesser portion of their shares into the Company’s common stock at a conversion ratio 0.2 and at price of $1.59 per share.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;border:none'><font style='border:none'>The holders of the Series B convertible preferred stock </font><font style='border:none'>have the following rights and privileges: </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i>Optional Conversion Rights </i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'>Each share of Series B convertible preferred stock is convertible at the option of the holder into 0.2 share of common stock and at price of $1.59 per share. The conversion price per share for the convertible preferred stock shall be adjusted for certain recapitalizations, splits, combinations, common stock dividends or as set forth in the Company’s amended and restated certificate of incorporation. At December 31, 2017, none of the Series B convertible preferred stock has been converted to common stock.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i>Voting Rights </i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'>Each share of convertible preferred stock has 0.2 votes equal to the number of shares of common stock into which it is convertible. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i>Redemption Rights </i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'>There are no redemption rights afforded to the holders of convertible preferred stock. Upon certain change in control events that are outside of the Company’s control, including liquidation, sale or transfer of control of the Company, the convertible preferred stock is contingently redeemable. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The holders of the Series B convertible preferred stock are not entitled to receive dividends and have same liquidation rights that are possessed by the holders of the Company’s common stock.  </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The Company evaluated whether or not the Series B convertible preferred stock above contained embedded conversion options, which meet the definition of derivatives under ASC Topic 815. The Company concluded that since the above convertible preferred shares had a fixed conversion rate, the convertible preferred shares were not derivative instruments.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'>The convertible preferred shares were analyzed to determine if the convertible preferred shares have an embedded beneficial conversion feature (BCF). Based on this analysis, the Company concluded that the effective conversion price was greater than the fair value of the Company’s common stock on the issuance dates and therefore no BCF was recorded.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company recorded its convertible preferred stock at fair value on the dates of issuance, net of issuance costs. The total fair value of the convertible preferred stock on the date of issuance, net of issuance costs, was $361,809. As of December 31, 2017, total </font><font style='border:none'>2,090,000</font><font style='border:none'> shares of Series B convertible preferred stock authorized, issued and outstanding.  </font></p>
1210000
363000
380000
145200
500000
160000
2090000
2090000
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><u><font style='border:none'>NOTE 11 – FOREIGN CURRENCY LOSS </font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The foreign currency loss of </font><font style='border:none'>$26,085</font><font style='border:none'> arises from the transaction of issuing B Series Preferred Stock. The proceeds were collected in RMB and the payout of the proceed were either in RMB or USD.  In both circumstances, the collection and payout were recorded in USD and the conversion of RMB to USD were in accordance with the foreign exchange rates on the proceed collection date and payout date.  Due to the fluctuation of the foreign exchange rates, the foreign exchange rates on the proceed collection date and the payment date were different. The difference caused that the same amount of RMB were converted to less USD on the payment date than on the collection date due to depreciation of the RMB. </font></p>
26085
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;border:none'><u><font style='border:none'>NOTE 12 – INCOME TAXES</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company provides for income taxes under ASC 740, “Income Taxes”. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of </font><font style='border:none'>34%</font><font style='border:none'> to the net loss before provision for income taxes for the following reasons:</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="645" style='width:484.0pt;border-collapse:collapse'> <tr style='height:28.0pt'> <td width="333" valign="top" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="133" colspan="2" style='width:99.9pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>For the year ended</b></p> </td> <td width="18" rowspan="2" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="142" colspan="2" style='width:106.6pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>For the year ended</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="133" colspan="2" style='width:99.9pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>December 31, 2017</b></p> </td> <td width="142" colspan="2" style='width:106.6pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>December 31, 2016</b></p> </td> </tr> <tr style='height:14.5pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="111" style='width:83.6pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="120" style='width:90.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:18.5pt'> <td width="333" style='width:249.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Income tax expense (asset) at statutory rate</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="111" style='width:83.6pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>            (194,744)</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> $ </p> </td> <td width="120" style='width:90.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>               (103,080)</p> </td> </tr> <tr style='height:15.0pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Valuation allowance</p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="111" style='width:83.6pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>194,744</p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="120" style='width:90.3pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>103,080</p> </td> </tr> <tr style='height:14.5pt'> <td width="333" style='width:249.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="111" style='width:83.6pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="120" style='width:90.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Income tax expense per books</p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="111" style='width:83.6pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>                      -   </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="120" style='width:90.3pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>                         -   </p> </td> </tr> </table> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'><font style='border:none'>The net operating loss carry forwards for the year ended December 31, 2017 was </font><font style='border:none'>($572,775)</font><font style='border:none'>, and for the year ended December 31, 2016 was </font><font style='border:none'>($303,175)</font><font style='border:none'>, and for federal income tax reporting purposes is subject to annual limitations.  The Company’s tax returns for the 3 years prior are subject to IRS inspection.  The net federal operating loss carry forward will expire in 2037.  This carry forward may be limited upon the consummation of a business combination under IRC Section 381.  </font></p>
0.3400
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <table border="0" cellspacing="0" cellpadding="0" width="645" style='width:484.0pt;border-collapse:collapse'> <tr style='height:28.0pt'> <td width="333" valign="top" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="133" colspan="2" style='width:99.9pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>For the year ended</b></p> </td> <td width="18" rowspan="2" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="142" colspan="2" style='width:106.6pt;padding:0in 5.4pt 0in 5.4pt;height:28.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>For the year ended</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="133" colspan="2" style='width:99.9pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>December 31, 2017</b></p> </td> <td width="142" colspan="2" style='width:106.6pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><b>December 31, 2016</b></p> </td> </tr> <tr style='height:14.5pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="111" style='width:83.6pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="120" style='width:90.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:18.5pt'> <td width="333" style='width:249.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Income tax expense (asset) at statutory rate</p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="111" style='width:83.6pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>            (194,744)</p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> $ </p> </td> <td width="120" style='width:90.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:18.5pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>               (103,080)</p> </td> </tr> <tr style='height:15.0pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Valuation allowance</p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="111" style='width:83.6pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>194,744</p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="120" style='width:90.3pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>103,080</p> </td> </tr> <tr style='height:14.5pt'> <td width="333" style='width:249.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19" style='width:14.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="111" style='width:83.6pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="18" style='width:13.55pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="120" style='width:90.3pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:14.5pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> </tr> <tr style='height:15.0pt'> <td width="333" style='width:249.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Income tax expense per books</p> </td> <td width="19" style='width:14.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="111" style='width:83.6pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>                      -   </p> </td> <td width="18" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'> </p> </td> <td width="22" style='width:16.3pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="120" style='width:90.3pt;border:none;border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>                         -   </p> </td> </tr> </table>
-194744
194744
0
-572775
-303175
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'><u><font style='border:none'>NOTE 13 – SUBSEQUENT EVENTS</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;layout-grid-mode:char;text-autospace:none;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>On February 8, 2018, the Company entered into an Exclusivity Agreement and Non-Binding Letter of Intent ("LOI") to purchase 100% of a Chinese textile and home furnishings company, Jiangsu Ziyang Holiday Bedroom Articles Co. Ltd., (the "Acquisition"), and the parties intended to complete the purchase no later than July 31, 2018.  To date, no definitive purchase agreement has been executed.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;line-height:normal;border:none'><font style='border:none'>The Company intended to engage a registered investment dealer in the United States, Asia and Canada to raise sufficient capital to accomplish the purchase of the Acquisition and furnish working capital for the Company's growth.  However, the Company</font><font style='border:none'> </font><font style='border:none'>was not able to meet such capital raise target before the deadline under the LOI, and postponed the acquisition. The Company is still actively seeking financing resources for the acquisition but there can be no assurance that the acquisition will occur. </font></p>
0001511161
2017-01-01
2017-12-31
0001511161
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